I Will Teach You to Be Rich, Second Edition: No Guilt. No Excuses. No B.S. Just a 6-Week Program That Works

by Ramit Sethi

Overview

Notes From Your Bookseller

The kind of financial advice that will emblazon itself onto your mind and become a part of your money mantra. This is an action-oriented guide to reconfiguring your spending habits.

The inspiration for the Netflix TV series!

The groundbreaking New York Times bestseller that taught a generation how to earn more, save more, and live a rich life—now in a revised 2nd edition.

Personal finance expert Ramit Sethi has been called a “wealth wizard” by Forbes and the “new guru on the block” by Fortune. Now he’s updated and expanded his modern money classic for a new age, delivering a simple, powerful, no-BS 6-week program.

I Will Teach You to Be Rich will show you:

• How to crush your debt and student loans faster than you thought possible
• How to set up no-fee, high-interest bank accounts that won’t gouge you for every penny
• How Ramit automates his finances so his money goes exactly where he wants it to—and how you can do it too
• How to talk your way out of late fees (with word-for-word scripts)
• How to save hundreds or even thousands per month (and still buy what you love)
• And so much more!

Plus, this 10th anniversary edition features over 80 new pages, including:

• New tools
• New tools on money and psychology
• Amazing stories of how previous readers used the book to create their rich lives

Master your money—and then get on with your life.

Product Details

ISBN-13:	9781523505746
Publisher:	Workman Publishing Company
Publication date:	05/14/2019
Edition description:	Revised
Pages:	352
Product dimensions:	5.90(w) x 8.50(h) x 0.40(d)

About the Author

Ramit Sethi writes about money, business, and psychology for a million readers each month at iwillteachyoutoberich.com. He’s been featured in Fortune, the New York Times, the Tim Ferris podcast, and the Wall Street Journal. He studied technology and psychology at Stanford and lives in New York.
 

Table of Contents

An Open Letter to New Readers 1

Introduction: Would You Rather Be Sexy or Rich? 6

Why do people gain weight after college? The similarities between money and food

Counterintuitive but true: We need less personal-finance information

Common excuses for not managing money

You're not a victim-you're in control

Stop debating minutiae and focus on the Big Wins

The key messages of I Will Teach You to Be Rich

"Rich" isn't just about money: What does it mean to you?

Chapter 1 Optimize Your Credit Cards 23

How to beat the credit card companies at their own game

Why Indian people love negotiating

Stop being intimidated by your credit cards

Picking the best card for airline miles, cash back, and rewards

The six commandments of credit cards

How to negotiate with your credit card company to get fees waived and receive lower rates

Secret perks your card offers

Why you should always buy electronics, travel, and furniture on your credit card

What not to do with your cards

The burden of student loans

When credit cards go bad

Five steps to getting rid of debt

Week One: Action Steps

Chapter 2 Beat the Banks 69

Open high-interest, low-hassle accounts and negotiate fees like an Indian

How banks rake it in

The bank accounts I use

Why you really need a separate savings account

Opening high-interest, no-fee accounts

Why people stick with terrible bank accounts

Five marketing tactics banks use to trick you

Negotiate out of fees with your current bank (use my script)

Week Two: Action Steps

Chapter 3 Get Ready to Invest 94

Open your 401(k) and Roth IRA-even with just $50

Start investing, step by step

Why your friends are scared of investing

Investing is the single most effective way to get rich

Where should your money go? Introducing the ladder of personal finance

Mastering your 401(k)

Crush your debt

The beauty of Roth IRAs

What about robo-advisors?

The exact account I use

Feed your investment account

HSAs

Beyond retirement accounts

Week Three: Action Steps

Chapter 4 Conscious Spending 126

How to save hundreds per month (and still buy what you love)

How to spend extravagantly on the things you love and cut costs mercilessly on the things you don't-without making an annoying budget

The difference between cheap people and conscious spenders

How my friend spends $21,000 per year going out-guilt-free

Using psychology against yourself to save

The four buckets: fixed costs, savings, investments, and guilt-free spending money

The envelope system for not overspending

What if you don't make enough money to save?

How to make more money

Handling unexpected expenses

Week Four: Action Steps

Chapter 5 Save While Sleeping 167

Making your accounts work together-automatically

The power of defaults

How to spend only 90 minutes a month managing your money

Ways to use psychology to help you save money

Create your automatic money flow

Using your automated finances to fuel your rich life

Week Five: Action Steps

Chapter 6 The Myth of Financial Expertise 188

Why professional wine tasters and stock pickers are clueless-and how you can beat them

Who should you trust?

Experts can't guess where the market is going

How experts hide poor performance

You don't need a financial adviser

Behind the scenes: When two wealth managers tried to recruit me

Active vs. passive management

Chapter 7 Investing Isn't Only for Rich People 212

Spend the afternoon picking a simple portfolio that will make you rich

The beauty of automatic investing

Asset allocation: more important than the "best stock of the year!"

Retiring in your 30s or 40s: The FIRE movement

Convenience or control? You choose

The many flavors of stocks and bonds

Creating your own portfolio: How to handpick your investments

Investing the easy way: target-date funds

Feeding your 401(k) and IRA

The Swensen model of asset allocation

Insane crypto "investments"

Week Six: Action Steps

Chapter 8 How to Maintain and Grow Your System 260

You've done the hard work: Here's how to maintain (and optimize) your financial infrastructure

Feed your system-the more you put in, the more you'll get out

Ignore the noise

The tricky part of managing your own portfolio: rebalancing your investments

Nutty beliefs about taxes

When to sell

For high achievers: a ten-year plan

Giving back-an important part of being rich

Chapter 9 A Rich Life 282

The finances of relationships, weddings, buying a car, and your first house

Student loans-Pay them down or invest?

How to help parents who are in debt

The big conversation: talking about money with your significant other

Should you sign a prenup?

Why we're all hypocrites about our weddings (and how to pay for yours)

Negotiating your salary, I Will Teach You to Be Rich style

The smart person's guide to buying a car

The biggest big-ticket item of all: a house

The benefits of renting

Is real estate really a good investment?

Planning for future purchases

Your Rich Life: Going beyond the day to day

Acknowledgments 335

Index 336

Editorial Reviews

“Don’t let the breezy, irreverent style of this book fool you. It contains serious advice on personal-finance decisions from budgeting and savings to spending and investing.” —Burton G. Malkiel, author of A Random Walk Down Wall Street

 “Ramit Sethi is a rising star in the world of personal finance writing . . . one singularly attuned to the sensibilities of his generation . . . His style is part frat boy and part Silicon Valley geek, with a little bit of San Francisco hipster thrown in.”—San Francisco Chronicle

“The easiest way to get rich is to inherit. This is the second best way—knowledge and some discipline. If you’re bold enough to do the right thing, Ramit will show you how. Highly recommended.” —Seth Godin

“Particularly appealing to the younger generation with its easy-to-read, no-holds-barred language.”—Business Insider

“Ramit’s like the guy you wish you knew in college who would sit you down over a beer and fill you in on what you really need to know about money—no sales pitch, just good advice.” —Christopher Stevenson, Credit Union Executives Society

“Smart, bold, and practical. I Will Teach You to Be Rich is packed with tips that actually work. This is a great guide to money management for twentysomethings—and everybody else.” —J. D. Roth, Editor, GetRichSlowly.org

“. . . one of our favorite personal finance sites.” —Lifehacker



 

From the Publisher