Book Notes: I Will Teach You to be Rich

If there’s one thing I know how to do it is stay in my lane while focusing on my own passions. I am a realtor. That is my passion.

I’m not a lender.

I’m not credit repair.

I’m not your financial advisor.

I am a realtor

..but not a monetarily rich one (I wake up confused by that part daily 🙄 ). So I read this book because I needed to see if this author could make good on his title for the betterment of us all!

A lot of my clients - who now have successfully become homeowners - originally came to me with credit and/or financial impediments. This isn’t by accident. My passion is to help people with these stressors in particular, so somehow the universe makes sure we find one another. To be of help, I’ve curated relationships with professionals in fields that aid my clients in their fractured places. Collectively, we get them from where they are to inside of their new home.

Even while staying in my lane, I seek knowledge on my own to help me better identify how to point people in the right direction. This weeks read was I Will Teach You to be Rich by Ramit Sethi and here’s four of my take away notes on purposefully saving and compounding money.

NOTED

1. Automate, Automate, Automate
   Set it and forget it! Automate your savings so that you’re consistently putting money away without thinking about it. Set up automatic transfers to your house fund /retirement /savings etc. Just automate it!

2. Focus on the Big Wins
   Stop stressing over tiny expenses. Instead, focus on the big stuff: negotiate your salary, reduce major monthly expenses, and cut unnecessary costs. Small changes won’t cut it for big goals.
   

3. Invest Early (Even for Your Down Payment!)
   Investing isn’t just for the stock market gurus. Put your savings to work by investing in low-cost index funds if you can. It’s a decent way to make your money grow faster (with a bit of patience). Use Hugh yield savings over a traditional one.

4. Create Your own "Rich Life"
   Define what YOUR “rich life” looks like—this is about building a future that aligns with what you truly want. It’s not about cutting everything out. Thank God, because my new addiction is the brown sugar cortado at roughly 5.00 /8 oz. 🥴 It is small but MIGHTY! Anyway, this isn’t about chasing the American dream. It’s about funding your dream. Making sure your money is going toward the things that matter most to YOU. If buying a home is the goal, cut back on or eradicate the bills of things that aren’t the goal. Maybe traveling is your “rich life”, so living in a tiny affordable apartment and only driving older car note free cars are what you do to ensure your money goes to your travel fund and not your landlord of a home you barley spend time in. The point is conscious spending. Do a self evaluation of what matters most to you. You may find that you are wasting your money on portions of living that you’ve been conditioned to believe you are suppose to care about when you could be using it to do more of what you truly care about.

All in all I think this book is worth a read. It has actionable steps that walks you through if needed. If you are someone who feels they don’t know anything more about money other than work, pay my bills and TRY to save, get the book. It’s not going to put a million in your bank account by tomorrow, but I can say it has useful strategies and insight.