I Will Teach You to Be Rich

Library · Personal finance

• Author: Ramit Sethi
• FinSimLab rating: 3/5
• Reading: Easy
• Finance level: Beginner
• Published: 2009

An automated system of accounts, saving and investing so finances take little of your time.

What it covers

Sethi structures the book as a six-week programme: sort out your accounts, automate transfers, invest in low-cost funds and spend guilt-free on what matters to you. It is written for the US market, so the specific accounts and credit card advice may not apply elsewhere, but the automation method does.

What you will learn

• How to automate saving and investing on payday.
• Why low-cost index funds fit a simple plan.
• How to decide what to spend on without guilt.

Who it is for

Young people with a steady income who want a practical system rather than theory.

Concepts

Automation, Budgeting, Index investing

What you will not learn

Products and tax rules outside the US: the accounts, cards and retirement plans are American.

Already read a book on this?

• It shares automating so you do not rely on willpower with Atomic Habits. If you have read Atomic Habits, this one mainly adds the system applied to your accounts and investing. Atomic Habits

We suggest you continue with

• The Total Money Makeover (in the "I want better money habits" path)

Related Academy guides

• The 50/30/20 rule: how to budget your money
• What is an ETF and how to invest in one
• What is Dollar Cost Averaging (DCA) and why it works

Put it into practice

• Compound interest calculator
• Investment planner

More personal finance books

• The Richest Man in Babylon
• Your Money or Your Life
• The Total Money Makeover
• The Millionaire Next Door
• Rich Dad Poor Dad
• Die With Zero

Descriptions written by FinSimLab for educational purposes. They do not summarise the books and are not investment advice.