Review of “I Will Teach You To Be Rich” by Ramit Sethi;

The sub-heading of this financial handbook is “no guilt, no excuses, no b.s.” Sethi delivers on the promise with solid financial tips and long term habits to grow your wealth. Most people have heard the contained strategy for becoming wealthy; first, live on as little as possible, save for the future, and then repeat every day your entire life. This system is a low risk way to become rich, but Sethi fails to espouse any alternative.

My qualm with this book lies primarily in the title, as it calls back to a book that Sethi has no doubt read, Think and Grow Rich by Napoleon Hill. In Hill’s classic work, he details the common threads that lead to personal success and fulfillment. Hill’s work is filled with advise from spectacularly successful human beings; their advise is completely different than Sethi.

You can group the methods for achieving wealth in two. One option is to reduce your costs of living relative to your income, and invest the difference. This option is discussed in depth in I Will Teach You To Be Rich. The other option, which is left unmentioned in the book, is to increase your income.

One idea is all it takes to change your life. Sethi himself has changed his material wealth substantially by offering financial advice on his blog, writing books, and working to become a reference for financial advise in his generation. I Will Teach You To Be Rich should really be I will lay out your financial priorities and teach you how to not ruin your retirement. It’s not a big issue, but the author does under deliver.

The advise in these two books is not at odds. Sethi’s book is the handbook for your money and retirement; it is full of advise that will help you maintain your wealth. If you have found your calling in life, maybe you should spend some time reading it. If you are still wandering, consider finding your way before settling for a life on the road you are on.