"I Will Teach You To Be Poor" by Ramit Sethi

[michalo]

keep away from the books that have in titel "how to make money fast" or whatever mostly it's shit and there is so many valuable books that can you help you to think different. Even biographies of some self made Mio.

 

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[GMSI7D]

So after just finishing "TMFL" today i was on the hunt for more literature to stimulate my entrepreneurial mind . At first i was going to purchase "Cashvetising" (which i should have) but they only have the physical copy and i wanted something i could purchase from iBooks. So anyway i looked on my list of 100 books entrepreneurs should read and came across "I Will Teach You To Be Rich" now ive heard of Ramit b4 and people like to give him credit for being a great email list guy Plus it had the "New Your Times Best Seller" sticker on the cover. So i was like F*ck it i might be able to learn a few things from this book.

Purchased the book...

Read the intro .....

And notice IMMEDIATELY the lies of the whole book

IWTYTBR is a whole book about getting rich in 30 years by saving money and investing in 401k and other stupid slowlane concepts

IM PISSED . Total waste of my $9.99

Dose anyone know how to refund a purchase on ibooks b4 they charge you? Im deff going digging in the forums for a REAL book for entrepreneurs , I just wanted to place this rant here for anyone thinking about purchasing this book.

sadly, 80 % of success books out there are like this book you talk about.

this is pareto law: 80 % books are waste of time and 20 % are important.

 

[JokerCrazyBeatz]

sadly, 80 % of success books out there are like this book you talk about.

this is pareto law: 80 % books are waste of time and 20 % are important.

It's sad lol , really super sad

 

[MakeItHappen]

If your looking for a book with a similar title but fastlane content, check out How to get Rich by Felix Dennis

100% agree

No need to buy a book from a person making money by telling you how to make money when you can buy a book from a self made billionaire (hint: he didn't became a billionaire by telling people how to get rich) who calls his book an anti self help book for a reason...

btw: just to make sure what "rich" means according to Felix dennis

£1m - £2m The comfortable poor

£3m - £4m The comfortably off

£5m - £15m The comfortably wealthy

£16m - £39m The lesser rich

£40m - £74m The comfortably rich

£75m - £99m The rich

£100m - £199m The seriously rich

£200m - £399m The truly rich

£400m - £999m The filthy rich

Over £1bn The super rich

To get the equivalent U.S. dollars figure multiple by 1.4359.


Talk about thinking big.

 

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[JokerCrazyBeatz]

100% agree

No need to buy a book from a person making money by telling you how to make money when you can buy a book from a self made billionaire (hint: he didn't became a billionaire by telling people how to get rich) who calls his book an anti self help book for a reason...

btw: just to make sure what "rich" means according to Felix dennis

£1m - £2m The comfortable poor

£3m - £4m The comfortably off

£5m - £15m The comfortably wealthy

£16m - £39m The lesser rich

£40m - £74m The comfortably rich

£75m - £99m The rich

£100m - £199m The seriously rich

£200m - £399m The truly rich

£400m - £999m The filthy rich

Over £1bn The super rich

To get the equivalent U.S. dollars figure multiple by 1.4359.


Talk about thinking big.

Sheesh

 

[nradam123]

You know what, stop reading books. I will give you my notes everyday.

Take this - https://www.evernote.com/shard/s697...f966e140dd48/f6f46321b42187a78aa04827ad3ad12f
And this - https://www.evernote.com/shard/s697...d68c020308e0/28a652d86ce0ee7f9aff838b7b7fbded

Want more? Its all the golden nuggets you need and you can read it while having coffee.

In college it was me who used to borrow others notes. How life has changed :/

 

[SteveO]

Those who pick you up and those who pull you down

No, no, no... "Those that pick you up and those that add weight to your strength training"

 

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[nradam123]

No, no, no... "Those that pick you up and those that add weight to your strength training"

Man, I want to frame this quote.

 

[Formless]

"keep away from the books that have in titel how to make money fast"

"The Millionaire Fastlane ."

...what a terrible book, right?

(It's just a prank bro, no hard feelings.)

 

[T-K]

When I saw that book, I 'looked inside', a good feature on Amazon. When I saw 401k, I knew what I was looking at. You are right, the book is all about long-term savings and whatnot.

People love to support each other with a belittleling attitude towards one dude (usually OP), this is the second or third thread I have seen recently. People love to use big words and fancy motivational quotes, anyways...

 

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[jesseissorude]

The principles of I Will Teach You To Be Rich are completely applicable to the Fastlane - he is just addressing it within a slowlane mentality.

This!

I've had friends ask me how to get their finances in order, and I give them IWTYTBR. Seriously, I've probably given out 5 copies to friends.

No, it won't make you a millionaire overnight, but it's what most people need to hear.

Don't have debt, automate all your bill paying, automate your saving/investing, then whatever is left over you can spend guilt-free. Back when I had a job, that book got me to the secure financial footing that eventually allowed me to start my business.

EDIT: I should add, the friends that I'm giving this book to are not aspiring entrepreneurs. They are just normal folks who need to figure out how to take control of their finances and start saving money each month.

 

[michalo]

This!

I've had friends ask me how to get their finances in order, and I give them IWTYTBR. Seriously, I've probably given out 5 copies to friends.

No, it won't make you a millionaire overnight, but it's what most people need to hear.

Don't have debt, automate all your bill paying, automate your saving/investing, then whatever is left over you can spend guilt-free. Back when I had a job, that book got me to the secure financial footing that eventually allowed me to start my business.

EDIT: I should add, the friends that I'm giving this book to are not aspiring entrepreneurs. They are just normal folks who need to figure out how to take control of their finances and start saving money each month.

Sorry but this "don't have debt" doesn't talk with me. If I can make from one dollar two in one year than why should I care about paying five to ten cents to bank? It's risky? F* breathing is risky. Who cares? You will be king or broke but hey you are already broke than not really going to change a thing. I have a debt - investing with debt and trying to make bigger debt. It'S just stupid to fear it. What is stupid is never try. BTW I have better score on ratings that people without any fraking debt. Funny right?
btw. In my opinion what is really risky is just being stupid. Rest is piece of cake. Under "stupid" I mean for example buying sth for 1.000$ that is worth 20 bucks.

 

[Owlman]

So after just finishing "TMFL" today i was on the hunt for more literature to stimulate my entrepreneurial mind . At first i was going to purchase "Cashvetising" (which i should have) but they only have the physical copy and i wanted something i could purchase from iBooks. So anyway i looked on my list of 100 books entrepreneurs should read and came across "I Will Teach You To Be Rich" now ive heard of Ramit b4 and people like to give him credit for being a great email list guy Plus it had the "New Your Times Best Seller" sticker on the cover. So i was like f*ck it i might be able to learn a few things from this book.

Purchased the book...

Read the intro .....

And notice IMMEDIATELY the lies of the whole book

IWTYTBR is a whole book about getting rich in 30 years by saving money and investing in 401k and other stupid slowlane concepts

IM PISSED . Total waste of my $9.99

Dose anyone know how to refund a purchase on ibooks b4 they charge you? Im deff going digging in the forums for a REAL book for entrepreneurs , I just wanted to place this rant here for anyone thinking about purchasing this book.

A tragedy I must say.

 

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[Late Bloomer]

i looked on my list of 100 books entrepreneurs should read

In some really bizarre coincidence and oversight, your list seems to be a little different than the books most recommended by Fastlane Forum members. For example, when I did a forum search for posts with the title "Ramit teach you," the discussion of this very book from a couple of months ago popped right up. As I reread that discussion, I remembered why forum members generally don't recommend the book. I also remembered how my saying it was silly to dislike the book just because of its title, gave way to respect for those who pointed out the content's not very helpful.

Maybe "I will teach you how to do a forum search" should be next on your list?

 

[Miorin]

He got rich by selling. I honestly risk saying that he is one of the most persuasive guys out there.

I'm in his e-mail list and I get a lot of golden nuggets about negotiation/sales, while I ignore job/career advice.

Just see how he writes.

He's just providing value to risk-averse people, while providing the risk-takers some gold too.

To business and life advice I prefer WSP's, FL, you know, the efficient process forging guys.

 

[Late Bloomer]

I just cringe every time i see the "get rich slow , invest in 401ks" talk

The title of the book isn't "I will teach you how to be rich right away." The implied subtitle is "I will teach you how to be rich... eventually." And he does delivery that.

As his mailing lists, webinars etc. show, he has some different ideas about how to get rich right away. They involve using mailing lists, webinars, etc. to sell people info packaged much more attractively than just in a book.

As Miorin pointed out, you can learn about marketing from Ramit. He's very talented at pushing hot buttons of urgency, while still feeling like a nice, easygoing friend. What copywriting techniques did he use to set up those feelings? Those are faster techniques to build wealth. Sooner than another half percent in your 401k for a few more decades.

 

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[Late Bloomer]

If your looking for a book with a similar title but fastlane content, check out How to get Rich by Felix Dennis

One of the most fun, interesting, unique, inspiring business books I've ever read. His description of what a Board does when you're an absentee owner, is the best road map I've ever seen to get a successful business into sellable shape. That's an exit-stage road map right there. Even though the rest of my journey will probably be a lot different than his, he's shown exactly how, when, and why to safely pull off from the fastlane once you've made your pile. That's my endgame vision right there. His discussion of how he wishes he'd done this earlier, when there were still more years left for forests, poems, and wine, is so poignantly moving.

 

[Late Bloomer]

You know what, stop reading books. I will give you my notes everyday.

Take this - Purple Cow
And this - Innovators Dilemma

Want more? Its all the golden nuggets you need and you can read it while having coffee.

In college it was me who used to borrow others notes. How life has changed :/

Great notes Adam, thank you! Looks like these are on Seth Godin's "Purple Cow" and Geoffrey Moore's "Crossing the Chasm" or maybe Clayton Christensen's "Innovator's Dilemma?" I've read the last two books. I never got around to reading Purple Cow but it looks like it combines great marketing advice from other people I have read.

It looks like Ramit's success comes from how he can take these ideas and put them in friendly little bite size pieces. He guides his audience by the hand.