cover image for I Will Teach You To Be Rich

I Will Teach You To Be Rich

Ramit Sethi

8/10
I good sum of the major do's and don't of personal finance as an adult. I knew a lot of these already but doesn't hurt repeating and I definielty learned a few things
  • Create systems to pay bills and invest automatically and then just spend the rest of your money as you please (this is a concious spending plan and is a lot easier than traditional budgeting)
  • Don't nit pick, instead knock out the most valuble things and then call it good
  • Negotiate with banks all over the place
  • Use credit cards for their insuance benefits, always pay them off
  • High interest savings accounts are good
  • Max out your retirement accounts
  • You want to keep a diversification not only between various stocks but also across sectors (with more intention, like REITS, Large caps, Small caps, Foreign, Growth Value) and across asset classes (stocks, bonds, real estate) -> if you manage yourself will require rebalancing. Lifecycle funds do this for you and adjust over time
;