When I started Get Rich Slowly in 2006, I had no idea other money blogs existed. I'd been blogging about cats, computers, and comic books since 1997 — before blog was even a word! — and I thought my new venture might be the first blog about personal finance.
I was wrong.
I learned quickly that there were already dozens (dozens!) of people blogging about money on the interwebs. For instance:
- Harlan Landes was writing at Consumerism Commentary. He now runs the Plutus Foundation, a financial literacy non-profit.
- Jim Wang — a ginormous money nerd then, a ginormous money nerd now — was writing at Blueprint for Financial Prosperity. He now runs Wallet Hacks.
- John was writing at Free Money Finance (a front for selling Moose Tracks ice cream!). He now runs ESI Money.
- Ramit Sethi was writing at I Will Teach You to Be Rich. He still runs the site, but his focus has shifted from personal finance to entrepreneurship and marketing.
All four of these folks built and grew successful sites because they produced quality content. But Ramit might be the most successful of all. Nowadays, he produces helpful courses on a variety of personal development subjects. He hosts conferences. He wrote a best-selling book. And he never sold his website.
Instead, I Will Teach You to Be Rich has evolved as he's evolved. In recent years, Ramit has distanced himself from the world of personal finance. Nowadays, he's focused on the many different ways his readers can build a Rich Life.
In fact, “how to live a Rich Life” is the core theme of the brand-new second edition of I Will Teach You to Be Rich, the book. In 2009, Ramit wrote, “I Will Teach You to Be Rich is about sensible, banking, budgeting, saving, and investing.” In the 2019 edition, that's been changed to, “I Will Teach You to Be Rich is about using money to design your Rich Life.” I think you'll agree that this is a much more compelling theme.
If you've read my other book reviews, you'll note that I sometimes shy away from giving an overall evaluation, opting instead to talk about some aspect of the book I liked (or didn't). When this happens, it's usually because I don't think the book is that great.
I won't be coy today. I Will Teach You to Be Rich is one of the best personal-finance books on the market. It's great.
Let's take a closer look at why I like it so much. [Read more…]