Opinion

IWTYTBR

IWTYTBR is the first personal finance book I’ve read and I must say, I am not disappointed. A bold name that’s hard to forget, simple and easily relatable content; the book is full of relevant real world examples.

I Will Teach You To Be Rich (Buy on amazon)

Ramit (author, IWTYTBR) has created a comprehensive money management guide for people who are in their late teens to late twenties. IWTYTBR is a must-read for fresh grads who have just started collecting their pay-checks and don’t really know what to do with this money. Of course, buying an expensive car, going out every night and frequent mindless shopping spree is one way to blow it but unfortunately, IWTYTBR suggests otherwise.

IWTYTBR lays out a rational six-week plan, one can/should follow to lead to a hassle free retirement and all this, without “cutting back on Lattes”. (Yes, Ramit is big on not compromising on Lattes.)

http://www.iwillteachyoutoberich.com/blog/save-on-coffee/

If retirement seems too far-sighted for you to digest at the moment, IWTYTBR also lays out a monthly budget for you that will allow you to spend your money, guilt free!!

Monthly Money Management Automation (Read more on this)

What if your saving is already under control? IWTYTBR also presents a wide variety of resources for readers to invest and grow their saved cash. There is a detailed description of different mediums to invest, like 401K, IRA, Roth IRA etc. Also, the book gets down to the nitty-gritty of the investment choices one can make depending on their investing style (IWTYTBR also teaches how to select your style and build your profile)

Quick Lessons:

Automate and forget about it
60-40 (60% of your pay-check for daily expenses – 40% save and invest)
Leave one and a half months of living expenses in your checking account
“Frugality, quite simply, is about choosing the things you love enough to spend extravagantly on—and then cutting costs mercilessly on the things you don’t love”

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