I Will Teach You To Be Rich

Introduction: Would You Rather Be Sexy or Rich?

Why do people get fat after college? The eerily similar guilt about spending and not working out. • Counterintuitive but true: We need less personal-finance information • Common excuses for not managing money • Stop debating minutiae and get something done • The key messages of I Will Teach You to Be Rich • “Rich” isn’t just about money: What does it mean to you?

Chapter 1: Optimize Your Credit Cards: How to beat the credit card companies at their own game

Why Indian people love negotiating • How credit can help you be rich • Picking the best credit card for airline miles, cash back, and rewards • Getting a card when you have no income • The six commandments of credit cards • How to negotiate with your credit card company to get fees waived and receive lower rates • Why you should always buy electronics, travel, and furniture on your credit card • What not to do with your cards • The burden of student loans • When credit cards go bad • Five steps to ridding yourself of debt • Week One: Action Steps

Chapter 2: Beat the Banks: Open high-interest, low-hassle accounts and negotiate fees like an Indian

Why old people are afraid of online banks—even though they offer the best new accounts you can get • How banks rake it in • Why you really need a separate savings account • Opening high-interest, no-fee accounts • Five marketing tactics banks use to trick you • My personal favorite accounts • Negotiate out of fees with your current bank (use my script) • Week Two: Action Steps

Chapter 3: Get Ready to Invest: Open your 401(k) and Roth IRA—even with just $50

Why your friends probably haven’t invested a cent yet • Investing is the single best way to get rich • The ladder of personal finance •  Everything you need to know about your 401(k) •  The importance of crushing your debt •  Why everyone should have a Roth IRA • Week Three: Action Steps
Chapter 4: Conscious Spending: How to save hundreds per month (and still buy what your love)

Spend less—without making a detailed, irritating budget • The difference between cheap and frugal • Conscious spending: how my friend spends $21,000 per year going out—guilt-free • Using psychology against yourself to save • The four buckets: fixed costs, savings, investments, and guilt-free spending money • The envelope system for not overspending • How to make more money • Handling unexpected expenses • Week Four: Action Steps

Chapter 5: Save While Sleeping: Making your accounts work together—automatically

The power of defaults: Give yourself fewer choices • How to spend only three hours a month managing your money • Where does your next $100 go? • Setting up a bill-pay and transfer system that works for you • Consultants and freelancers: What about irregular income? • Week Five: Action Steps

Chapter 6: The Myth of Financial Expertise: Why professional wine tasters and stock pickers are clueless—and how you can beat them

We’ve been tricked by “expertise”—why financial “experts” can’t even match the market • You can’t time the market • How experts hide their poor performance • You don’t need a financial advisor • Pundits worth reading • Most mutual fund managers fail to beat the market • Why I love index funds

Chapter 7: Investing Isn’t Only for Rich People: Spend the afternoon picking a simple portfolio that will make you rich

What’s your investor profile? • The beauty of automatic investing • Asset allocation: more important than the “best stock of the year!” • Convenience or control?  You choose  • The many flavors of stocks and bonds • Creating your own portfolio: How to handpick your investments • Investing the easy way: lifecycle funds • Feeding your 401(k) and Roth IRA • The Swenson model of asset allocation • Week Six: Action Steps

Chapter 8: Easy Maintenance: You’ve done the hard work: Here’s how to maintain (and optimize) your financial infrastructure

Feed your system—the more you put in, the more you’ll get out • Ignore the noise • The tricky part of managing your own portfolio: rebalancing your investments • Don’t let fear of taxes guide your investment decisions • When to sell • For high achievers: a ten-year plan • Giving back—an important part of being rich

Chapter 9: A Rich Life: The finances of relationships, weddings, buying a car, and your first house

Student loans—pay them down or invest? • Don’t let your parents manage your money • Role reversal: How to help when it’s your parents who are in debt • The big conversation: talking about money with your significant other • Why we’re all hypocrites about our weddings (and how to pay for yours) • Negotiating your salary, I Will Teach You to Be Rich style • The smart person’s guide to buying a car • The biggest big-ticket item of them all: a house • The benefits of renting • Is real estate really a good investment? • Planning for future purchases • Parting words (cue the violins)

Index