Summary of I Will Teach You To Be Rich: by Ramit Sethi | Includes Analysis
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Summary of I Will Teach You To Be Rich by Ramit Sethi | Includes Analysis
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I Will Teach You to Be Rich is a do-it-yourself guide to building wealth over the course of one’s lifetime with no quick fixes
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- Rating: 4 out of 5 stars4/5This is an excellent alternative to read if you have read the book and feel like you missed some of the main aspects because the key takeaways are accurate and simple to understand.
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Summary of I Will Teach You To Be Rich - Instaread Summaries
Overview
I Will Teach You to Be Rich is a do-it-yourself guide to building wealth over the course of one’s lifetime with no quick fixes or special tricks. This 2009 New York Times bestseller provides helpful and sensible advice—particularly aimed at millennials—to help anyone get out of debt, build their credit, and grow their net worth to reach whatever goals they have in mind for themselves and their future.
Structured as a six-week plan, I Will Teach You to Be Rich offers no get-rich-quick schemes or stock tips. Instead, the book focuses on long-term, personal finance strategies that build wealth over the course of decades, making the twenty-something reader a perfect target audience. The plan also urges its adherents to forego the small changes, like nixing the daily Starbucks latte, to set their sights on far bigger goals that they can achieve over the long term.
In week one, readers should focus on their credit history. In week two, readers should select a bank account with the highest possible annual rates of return. In week three, they should begin opening investment accounts, as investing will be the best possible way to ensure wealth growth over time. In week four, they should begin engaging in a conscious spending plan.
Unlike a budget,