I don’t recall exactly how I came to discover Ramit Sethi’s I Will Teach You To Be Rich in it’s first edition back in 2012. But I do remember how I felt when I started to read it: like a series of doors were unlocking to me… including some that I didn’t even know existed. It was pretty amazing, and I owe a large debt to Sethi’s tome for starting me down the path to FI.

I quickly opened an online savings account to access an interest rate that was far, far, far greater than the frankly pathetic rate I was getting from Chase. A short while later, I opened a Roth IRA with Vanguard and set up automatic transfers to start making regular contributions.

Honestly, just the savings account interest gains in the first month or two probably paid for the book itself and then some!

Sethi has a very distinct sense of humor that weaves its way throughout the book. While this might be a bit off-putting to more sensitive readers, I really enjoy the no-nonsense, fairly laid back tone that this presents to the reader. It also helps take ideas that can sometimes be presented in a fairly dry way and freshen them up (this is extra helpful for younger readers, who I think would really connect with and appreciate the lighter tone).

If I did have to critique anything Sethi covers, it’s his distain for budgeting. While I agree with his ideas about spending on things you love, and cutting out spending on things that don’t, I think a solid budget can do wonders to keep you honest, on track and out of debt.

I also thought that his referencing of specific interest rates would likely date the book, which ultimately ended up being the case. A second issue of the book was published in 2019 that removes these specific references. As someone that’s read both editions cover to cover, I will say that while the second issue is a small improvement over the first, it’s certainly not essential reading for those that have already read the first, and doesn’t change any of its main themes.

If you are new to personal finance, this is an essential read.

Highly Recommended