I Will Teach You to Be Rich
Ratings59
Average rating3.9
The book is not exactly bad but I've read a lot in this genre and this is not in my top 5, when judging by simplicity, clarity, completeness, and correctness. I would refer potential readers to Simple Path to Wealth by JL Collins instead as a starting point.
5 stars if you're an American
4.5 because while the majority of the book is actually directed to American citizens the rest is really good and eye opener
Picked it up again after a long time. Useful insights for inexperienced investors, even though some of them are specific to US residents.
I appreciate that, despite the hacky title, this book is quite literally the opposite of a “get rich quick” scheme. Gives very specific practical advice about all the aspects of personal finance: picking good checking and savings accounts, good credit cards and the importance of paying them off every month, taking full advantage of your company's 401(k), setting up a personal Roth IRA and contributing a hundred or 2 to it every month so later in life its compounded interest will be huge, and how (and why) to diversify your investments and minimize fees, taxes and penalties on them. Definitely recommend to all 20-somethings.
A fantastic book, written with honesty, humour, and no BS advice. Only knock against it is that about 25-30% is US-only focussed. However, the principles explained in the book are valuable no matter what country you happen to live in. A fantastic resource for anyone wanting to get serious about personal finance without any pain.
Even if though seems like he's trying to sell you the book while you're reading it, and sometimes you feel like “man, don't worry I've bought it and I'll read it, don't create unnecessary suspense! Even though if you're not a U.S. citizen some stuff may sound strange (but hey, you can take the principle and adapt it to your reality and even though you may not agree with his philosophy about credit cards, it's a really brilliant pack of advice, I really like the simplicity, the long term view and the automaticity of the system proposed. I wish everyone could read something like this in his life before his career, highly suggested lecture!
Would be 4 or maybe even 5 stars if I lived in the US - the content and tips in the book, although a lot of them applicable anywhere, are written with an American reader in mind.
Repetitive AF. As most of these books it can be distilled to almost nothing. Yeah the advice is 5 stars but it doesn't mean the book is