Earn and Burn
Last week, the blogosphere erupted with the release of the book “I”ll teach you to be rich.”
My gut reaction was “Great, another book on how you can make the author rich.”
Undoubtedly, Ramit is going to make money. His book briefly hit #1 on Amazon. When Tim endorsed it, via Twitter, I decided to give it a second glance.
This book is targeted for the twenty-something crowd. A demographic I left behind long ago. It’s a simple manifesto on how to control your finances and begin building wealth. This isn’t anything new except in one aspect: it’s written by a twenty something guy.
I seem to recall these television shows about people speaking about wealth. Typically, what comes to mind? For some reason, I always envision some clueless reporter asking questions to some grey-haired, Warren Buffet type and talking about concepts and plans I could never do. My reaction was “This person hasn’t seen 25 in 50 years. How can they possibly understand me?”
With that in mind, I think there’s something to be said for someone who is twenty-something ,teaching other twenty-somethings about money. But only if the advice is valid.
I read over the generous amount of pages he offers for free on his site. His ideas are right in align with what I’ve learned over the years. In some aspects, it’s funny how his suggestions mirror my own.
His talk about an automatic savings plan into ING reflects my Bread Crumb Savings Plan.
His talk about automating the bill paying process mirrors my own.
His discussion of how credit cards work is reflected in my treatise here.
While I have no designs to purchase his book, I do think this may be something twenty-somethings can grab onto. When you read over the comments on Ramit’s blog, and Tim’s, you can see how many twenty-somethings are starving for this type of knowledge. And if something like this can help them, how can it be a bad thing? Especially if it’s someone they can relate to.
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