Follow Friday – I Will Teach You To Be Rich

Lately I have been quite the personal finance blog stalker. Not only are they thought-provoking but some of them are funny and some pretty much habit-changing.

So, I thought why should I limit such amazing resources to myself. I shall now share one blogger per week with you on Fridays for binge-reading pleasure when you can’t wait for the work day to finish in office. Along with that I will also talk in detail about one blog post of theirs which turned out to be a learning for me and share links to two more of my favourite posts on their web site.

Let’s start with a blog very interestingly called I Will Teach You To Be Rich. It is run by this guy called Ramit Sethi.

What I love about it: The focus is clearly on thinking rich and a mindset change required to become rich. Mind you the language can come across as brash because this is one guy who does not believe in sugar coating, at all. It also helps you really understand that you need to negotiate for your worth and is a big promoter of earn money with less time.  If you are looking for some great ways to harness this internet economy, this is the guy to go to as he now also has a lot of online courses to start an online business.

The best part about his website? 5 very enlightening e-books for free download. His email newsletters are also pretty good.

 

Retail investors can often beat professionals with long-term investing

One big post: The one post which really stuck with me is the one titled – Dumb: Don’t invest, you can’t beat the pros.

He very effectively drives home the point that as an individual investor with long-term investment in direct stocks, you can beat the performance of mutual funds. With a stock you are really owning a piece of a company. Companies are a long term bet and even with some small hiccups, a good company will always find its’ way back. You as an individual investor can afford to keep stocks of good companies for long durations and benefit from them whereas the frequent trading in a mutual fund leads to obvious inefficiencies.

Personally, I choose to keep a portfolio with a mix of mutual funds and direct stocks. Direct stocks will not always be a hit but the movement in those is much faster (up and down) and more visible than mutual funds which will probably creep up or down much slower.

Other 2 personal favourite posts from I Will Teach You To Be Rich:

    1. Letting your parents manage your money is dumb
    2. Why personal finance “experts” keep giving worthless advice

Here are his other coordinates:

Email, Facebook, Twitter

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