Ramit Sethi - "I TEACH YOU TO BE RICH" - how legitimate?

[ProcessPro]

I found a book called I TEACH YOU TO BE RICH.

Is that another Dave Ramsey replica or legitimate?

The Amazon book preview mentions some truth about diet: Discipline, no magic pill.

If you've read TMF and Unscripted , may I ask what else you're looking for?
If you haven't, then I say start there, and that's all you need in terms of understanding how to get rich. Once you've finished those books and understand how to get rich, the rest of learning takes place while on the journey to riches.

 

[Scot]

So when you ask if a book called “I teach you to be rich” is legit, it sounds like you want someone to teach you to be rich.

So, I’ll teach you to be rich.

Lesson 1. Get rid of that mindset. No one can teach you to be rich.

 

[Cashflow Queen]

I found a book called I TEACH YOU TO BE RICH.

Is that another Dave Ramsey replica or legitimate?

The Amazon book preview mentions some truth about diet: Discipline, no magic pill.

I read “I will teach you to be rich” and loved it! It teaches some great real life personal finance management skills, such as budgeting, saving, opening separate bank accounts, phone negotiation, and stuff you actually use in every day life. ultimately I saved $800/year through some of the negotiation tactics with credit card and other companies that he teaches. It’s much better than Dave Ramsay’s book which teaches mostly common sense and discipline. But it does NOT cover entrepreneurship or anything about wealth mindset. It doesn’t overlap at all with Millionaire Fast lane.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[jpn]

For a slow-lane book its pretty good, I liked it. But it is slow lane, it will teach you to be rich. In 40 years. But if you read unscripted you'll recognise, that isn't how Ramit got rich. He's selling courses for 2-5k a pop. He's a marketing machine.

Anyway...

The advice that stuck with me (and that I still apply) is to decide which things in life are important to you and spend there. If you like going out to dinner (or gourmet coffee), spend money on that, life is to be enjoyed. But you might not care that much about furniture, so don't try to keep up with the Joneses for things that don't matter to your personal happiness.

 

[Raoul Duke]

I found a book called I TEACH YOU TO BE RICH.

Is that another Dave Ramsey replica or legitimate?

The Amazon book preview mentions some truth about diet: Discipline, no magic pill.

 

[Late Bloomer]

I see a lot of people who apparently haven't read the book, or seen anything from Ramit, judge it harshly based solely on what they assume from the title. C'mon, the same thing could be said, and probably has been said by quite a few, about "The Millionaire Fastlane ." If someone has read Ramit's book and it's crap, that would be useful information. Assumptions based on the title alone, don't actually add any value or understanding about the content. Also, I think there are 100% more Lambos on MJ's cover art than on Ramit's, if that helps people decide what books to buy for business advice.

 

[DeletedUser052]

Read the book two years ago.

It's a must-read for anyone who wants to be in the Slowlane till the last second of their lives.

 

[Mr.Brandtastic]

Read it. It's trash. It's like a slowlane swan song. Full of compound interest tables and "saving your income for 40 years" blather.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Deleted52409]

Well I definitely don't like the title.....

 

[DVU]

If you glance at the content page you can see its about saving and opening your Roth IRAs and 401(k)s.

Read the Millionaire Fastlane and Unscripted and the answer to your question will be crystal clear.

 

[Late Bloomer]

I didn't buy from Ramit but I was on his marketing pitch list for a while. It looks to me like he's a sincere guy with his head screwed on straight, offering a perspective on small business that actually is compatible with MJ's mindset and tactics. I wouldn't recommend Ramit's material ahead of MJ's, but it seems that it could be a very nice addition for further guidance that could help you steer more precisely into the Fastlane. If you get his material, I think a review of it might be helpful for this forum.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Raoul Duke]

So when you ask if a book called “I teach you to be rich” is legit, it sounds like you want someone to teach you to be rich.

So, I’ll teach you to be rich.

Lesson 1. Get rid of that mindset. No one can teach you to be rich.

 

[Argue]

I never read the book before so I can’t comment. There’s one book I always suggest to my friends and that’s “The Richest Man in Babylon.”

The Millionaire Fastlane + The Richest Man in Babylon literally changed my life. Without these books, I’d still be wandering in the world a clueless clown.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[roguehillbilly]

I found a book called I TEACH YOU TO BE RICH.

Is that another Dave Ramsey replica or legitimate?

The Amazon book preview mentions some truth about diet: Discipline, no magic pill.

I've read it. I read it at 19 and bought a house at 21. Not that it made me rich, I just grew up very quickly. I found it really useful. It might be a 'slowlaner' book but being in the slowlane is better than the sidewalk. Where I'm from in the US, most people are sidewalking it up and financially illiterate. I think that the book presents concepts simply and helps make more people aware that you get what you negotiate -- not what you deserve.

Sure, the fastlane is ideal, but having a solid foundation and never having to worry about money too much gives you some free cash to throw at side businesses and ventures while you learn. That beats the hell out of having money tied up.

10/10 book, I disagree with most of the people in this thread.

Look out for SmartPassiveIncome. His main schtick is niche web site building and affiliate marketing.

Pat has some really great stuff out there. His income reports are especially interesting: Income Reports Archive - The Smart Passive Income Blog

He has certainly learned to use leverage to his advantage and I think genuinely wants to share what he's learned.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Tommo]

I read it a long time ago and have given it to my kids to give them a decent grounding in personal finance. It has a bit more than the typical save for 40 years-compound interest bollocks to it. My kids are not ready for Fastlane yet but I hope to set a good example. Ramit is a mate of Tim Ferriss btw.

 

[jpanarra]

Read it, its a 'decent' start for somemone who needs to change from the sidewalk to the slowlane. I get why its out there.

However, there was some good takeaways from it like automating your cashflow through automatic deposits and have a system in place to transfer to certian savings accounts. I acutally use this, I have a 'savings' account that I use instead of investing in mutal funds or the stock market, I invest right back into myself via courses or my business.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[masterneme]

Ramit Sethi wasn't a millionaire before the book and his teachings didn't make him one...

But selling it did!

I've read a lot of guru stuff in the past and the best source for learning is the feedback gotten from continuously executing and applying Fastlane principles.

Slowlane material will screw your progress up.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[Marian Diop]

I did Dave Ramsey's course a few years ago and it got my hubs and I out of debt which is fantastic. Then I started reading Ramit's blog and then book and I found both of them helpful (and yes, basic, like others have said). But a somewhat different point from Dave Ramsey. And then I found Millionare Fastlane/Unscripted and my mindset shifted again (in an even cooler way!!) I've found that different truths come across differently as your thinking grows and changes. Dave/Ramit will be great for some people and give them a good and "safe" quality of life. If you want to read it, I would always recommend the library because its free haha and you can breeze through a ton of books (or not even finish them if they suck). I 2nd reading the richest man in babylon book. I've also gotten a lot of value from Brian Buffini's podcasts.

 

[barman]

The title of the book should have been "I Will Teach You Pretty Decent Financial Literacy" but it wouldn't have sold as many copies.

I read it a long time ago shortly after it came out. It's a great book for basic financial literacy. He wrote it when he was young and its targeted towards young people which separates it from most finance books written by grey haired white men. It should be required reading for the general populous as it will get you off the Sidewalk into the Slowlane.

It helps people that are bad with money become less bad with money: Getting out of debt, automatic saving, advantages of employer 401k matching, saving up before buying something instead of using credit, and so on. "Common sense" if you will.

I think everyone's mad at the OP because he's looking for a shortcut to get rich, which this book is not.

I get why a lot of Fastlaners would trash it, but for the average person its better to jump into the Fastlane from a literate, debt-free position than to not know what the F*ck you're doing with money. Let's be honest- mot everyone is going to get rich so there's no downside in knowing how to stay on your feet financially.

 

[ProcessPro]

That books of course never copes with the MJ DeMarco masterpieces, but I was just curious about that spontaneous title.

Well I understand that such books could be appealing, tempting even. I experience it myself.
That said, I think MJ's books are comprehensive, and there isn't much new to learn in terms of the principles of wealth. Your time might be better spent ensuring that you've really understood the concepts and have them in your head in a usable form (rather than forgetting like after cramming for an exam.) Alternatively, you can start supplementing PROCESS with new knowledge/skills relevant to your productocracy.

 

[Deleted52409]

The Amazon book preview mentions some truth about diet: Discipline, no magic pill.

"I WILL TEACH YOU TO BE RICH"

The book itself sounds like it's being marketed as a magic pill.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[million$$$smile]

I found a book called I TEACH YOU TO BE RICH.

Yawn...

I'm hungry...

 

[Cashflow Queen]

I read “I will teach you to be rich” and loved it! It teaches some great real life personal finance management skills, such as budgeting, saving, opening separate bank accounts, phone negotiation, and stuff you actually use in every day life. ultimately I saved $800/year through some of the negotiation tactics with credit card and other companies that he teaches. It’s much better than Dave Ramsay’s book which teaches mostly common sense and discipline. But it does NOT cover entrepreneurship or anything about wealth mindset. It doesn’t overlap at all with Millionaire Fast lane.

PS I was so happy with the book I emailed Ramit to thank him and he is very sincere guy

 

[ay47]

Ramit’s book “I will teach you to be rich” is a very simple personal finance book. It’s meant for slowlaners.

Ramit is pretty much a Tier 1 Guru these days. Check @SinisterLex Guru thread. He has a lot of high ticket courses and you can see the content increasingly getting more commercialised.

It’s pretty much all the same thing though. He just applies it to different fields: free lancing, copy writing, starting your web business, finding a job

1) Be brutally with yourself (this line will appear like 50 times in 1 course, and in every single piece of his content it seems.)
2) Break up your actions. Test and gather analytics on each step.
3) Go out, talk to your customers, listen to their words, put yourself in their shoes, write with their words and address their problems

 

[NLRDesign]

Because of the high reviews, I read/listened to this book a few months ago knowing nothing about this guy (I was surprised to find out he is good friends with and supported by Pat Flynn.) I will say that info was great for "slow-lane" wealth building. Also, if you listen to it on Audible he is a great speaker. HOWEVER, I did not care for the comparisons to "choosing between two hot blonde twins" and other such comments in literally every chapter. It was exhausting to me and made me feel like I was back in high school. It just sounded like he was marketing to young, single men (to put it nicely), and I'm sure he was, but it really put me off. Being that the quality of his content was great and it was clear and well read, I just don't understand the need for the continuous comments - I should have counted, but it was way more than one or two. Obviously, it didn't seem to effect his sales or his ratings, and clearly there are women that this didn't bother at all, but I ended up returning the book because I would not personally be able to listen to it again and I had honestly learned most of this information between a number of other books and blogs. If you disagree with me that is fine, I am definitely not looking to start a debate, but I think it is a lesson that perhaps your audience is wider than you realize, and it is worth considering that in any content you choose to put out there.

 

[ApeRunner]

I read “I will teach you to be rich” and loved it! It teaches some great real life personal finance management skills, such as budgeting, saving, opening separate bank accounts, phone negotiation, and stuff you actually use in every day life. ultimately I saved $800/year through some of the negotiation tactics with credit card and other companies that he teaches. It’s much better than Dave Ramsay’s book which teaches mostly common sense and discipline. But it does NOT cover entrepreneurship or anything about wealth mindset. It doesn’t overlap at all with Millionaire Fast lane.

No. His book I teach you how to be rich is all about saving and investing. His book is totally different from the products he sells. His products teach how to build a business. I’ve never bought a course by him. They are all overpriced in my opinion like 2000 or more for each course.


Sent from my iPhone using Tapatalk

I've read it. I read it at 19 and bought a house at 21. Not that it made me rich, I just grew up very quickly. I found it really useful. It might be a 'slowlaner' book but being in the slowlane is better than the sidewalk. Where I'm from in the US, most people are sidewalking it up and financially illiterate. I think that the book presents concepts simply and helps make more people aware that you get what you negotiate -- not what you deserve.

Sure, the fastlane is ideal, but having a solid foundation and never having to worry about money too much gives you some free cash to throw at side businesses and ventures while you learn. That beats the hell out of having money tied up.

10/10 book, I disagree with most of the people in this thread.



Pat has some really great stuff out there. His income reports are especially interesting: Income Reports Archive - The Smart Passive Income Blog

He has certainly learned to use leverage to his advantage and I think genuinely wants to share what he's learned.

Thank you all of you for your inputs. I want to read it anyway.

Because I want to get better at financial literacy, I think this will be a good book for me. (thanks @roguehillbilly )

 

[Guest6814]

I’ll say one more thing about I Will Teach You To Be Rich and Ramit Sethi. He’s an interesting character who moved on to focus more on promoting entrepreneurship in recent years. His first book was published about nine years ago. Since then, besides doing courses and the like, he’s written another book, Your Move, about entrepreneurship. I haven’t read it, because I don’t think I need it.

Still, Sethi hasn’t stopped giving out slowlane advice, because he knows that plenty of people want it. So he still gives courses with names like “Dream Job” and “Earn 1K on the Side,” even while also teaching an online course called “Zero to Launch,” about how to make an online course.

So there’s a level of complexity to the guy. Some of his stuff can be fastlane, yet it’s easy to get enticed (or distracted) by his slowlane material, too.

I used to read his stuff, and did sometimes learn from it, but I’ve lost interest and stopped.

 

[Galaxy16]

I found a book called I TEACH YOU TO BE RICH.

Is that another Dave Ramsey replica or legitimate?

The Amazon book preview mentions some truth about diet: Discipline, no magic pill.

 

Dislike ads? Remove them and support the forum: Subscribe to Fastlane Insiders.

[RyanSki]

Hmm, maybe he was pitching a different book in the ads I saw. It looked like it was pep talks + many examples of some simple inexpensive local testing to prove a market, doing things that don't scale until you find what sells, then make it efficient, then scale it up. That's not what "I teach you" is about?

No. His book I teach you how to be rich is all about saving and investing. His book is totally different from the products he sells. His products teach how to build a business. I’ve never bought a course by him. They are all overpriced in my opinion like 2000 or more for each course.


Sent from my iPhone using Tapatalk

 

[Paul Weese]

I also read it and did a little more with his material. I found it useful for sure. It has wisdom that can enhance Fastlane process, especially when caring for excess capital on hand. As well, I don't stop reading books that may be helpful. On the Fastlane bookstore page, I've read half of the titles and am consistently looking for something for me to grow personally a professionally with. If I didn't read, I'd go stale.