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Tuesday, December 28, 2010

For Financially Illiterate Professionals

Next month, more than 10,000 boomers/day turn 65 (your day is coming) and they are not ready for retirement. Why? They didn't save and invest enough.

How can a young couple learn to save and invest? They can get an expensive financial advisor. Or, they can listen to the 28-year-old that their 401k provider sends as a counselor. Or, they can read Ramit Sethi.

On the left is a chart from "I Will Teach You To Be Rich" by Ramit Sethi ( p. 72).

In my opinion, Sethi's book is one of the best that a young professional can read. It would also make a great gift for a young married couple (hint: great use for that Border's gift card). It teaches in a way that young people relate to.

If you don't have a gift card, get a library card.

Here is a link to a YouTube video by Sethi detailing how to automate your accounts - an important step in setting up a saving program.

In the book, Sethi covers all the bases from credit cards to investing with a huge dose of inspiration and an appreciation of how busy young professionals are. This is a no -excuses, 5week program.


  1. I haven't read Ramit's book, but I post his video on my blog a while back. I've been doing what he recommends for years, since back in the 80's. It works.

  2. Re: The Grouch He has a number of good videos. His writing I think speaks well to young people and is very energetic.

  3. Save now watch 'The Hills' when you retire! You'll have all the time in the world! :)

  4. Re: MoneyCone You have to admit it's a good line.