I didn't like this book - I loved it. I hardly love anything and find most books covering finances and 'how to be better off' to usually be a bit contrived and poorly written. They hype complicated methods that are guaranteed to get results and it doesn't seem to apply to those who aren't making a lot of money. That's not the case for 'I Will Teach You to be Rich'. Sethi has written a book that not only offers great advice for people of every income level but he seems to crafted a book on finances and improving your condition that goes against the usual recommendations and advice you get from financial experts and gurus. As a young adult who is pretty early in his career and who is interested in investing in his future, this book was perfect for me. This book covers it all - from looking at your monthly expenses and creating a spending/allocation plan, investing and tons of more.
The Good: This book covers a lot ground in a short amount of pages. Unlike a lot of books, I liked that Sethi didn't waste time or pages repeating himself. From the first chapter, he hits the ground running and does a great job of describing his plan to make you rich. His plan really isn't a gimmick or ridiculous because it's basically all about educating you about how to manage your money, showing and describing how to do it and then giving you steps and a plan to actually get it done. Even though I'd heard of some of the things he mentioned in the book (Roth IRAs, high yield savings accounts, 401(k)), he explained each a step further than anybody or piece of literature I've heard before. I liked that the book is structured in a way to really take you from knowing little about managing your money to leaving you feeling more confident and inspired to get your financial life in order. By following his simple suggestions, I took a hard look at my own budget and where my money goes and managed to restructure my spending habits so that I will (hopefully) manage to save twice as much as planned, start investing and start aggressively paying down my student loan debts - all on my salary which isn't by any means huge. That's what I liked about the book - it was written more so for those with time on their side who are younger and haven't made too many mistakes. Yes, if you're 30 and older, you can still pick up this book and get some great advice but I feel some of the advice and tips offered would be scoffed at by older readers while younger ones would be more willing and inclined to follow Ramit Sethi's advice.
The Bad: There really isn't much to complain about. His snarky/casual tone throughout the book can be a bit annoying or eye-roll inducing (he takes on the tone of a frat guy at times with countless references to hot babes and dining at Taco Bell), but once you get into the book, you get used to his style and look past this annoyance. As I said, I felt the book was written more for those in their 20s and early 30s than the older crowd. This isn't necessarily bad but I think an older audience isn't going to like some of his advice. Some may take it as being overly frugal and being young and a bit foolish (such as his statement about how investing in real estate or buying a house is a bit of an old school, outdated, belief). I'd caution some readers that this isn't for the financial faint of heart - there's a lot of great advice offered but if you read this with the belief that you're an expert or have little room for improvement, you're not going to get much out of this book and will argue with him in each chapter.
In all, if you're looking for a book that's all about getting your financial life in order, this book is for you. The book covers a variety of topics including (but not limited to) investing, savings accounts, restructuring your spending habits to save for things you want to buy or enjoy, how to negotiate a raise, getting a deal on a new car, then really, you should pick up this book. It was very easy to get through but far more informative than most finance 'get rich' books out there on the market. A must-read for anyone serious about their money.
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Great for recent grads; If you only read one - read this!
This is a straight-forward and relatively short book that will give you great advice. Highly recommended. I already consider myself financially stable, but needed to make sure I'm doing all the right things to prepare for the future. I've read a couple of other finance books about investing. The other books I've read were mostly written about retirement planning, IRAs, mutual funds, and index funds. So I was looking for a book that covered personal finance from a broader perspective. This book was exactly what I was looking for! Ramit covers all the important financial areas of someone's life - reducing debt (credit cards and student loans), bank accounts, conscious spending, short and long term investing, negotiating, buying a car or a house, and paying for a wedding. The book is filled with great advice that is backed up by financial experts. And, the book is written in an easy-to-read tone with lots of jokes. I also liked that the advice is targeted to a young generation who is comfortable working with computers.
Top reviews from the United States
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- Reviewed in the United States on February 24, 2010
- Reviewed in the United States on October 1, 2009
Top reviews from other countries
- solarisfowlReviewed in Canada on September 15, 2015
Essential book for everyone in thier twenties and early thirties. Fun to read but eye opening. You don't have to suffer be rich.
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