His Personal Finance Blogs Receive Millions of Views
|Net Worth:||$ 25 Million|
|Source of Wealth:||Entrepreneur|
|Born:||June 30, 1982|
|Birth Name:||Ramit Singh Sethi|
|Height:||6 ft 0 in (1.86m)|
“I often see people quit their job with meager savings and venture into entrepreneurship. It is not easy to do business and to go from 0 to 1 ..it is incredibly hard” – Ramit Sethi.
Ramit Sethi is an American financial advisor and entrepreneur who wrote the New York Times bestseller, named “I Will Teach You To Be Rich”. He is the owner of the multiple websites that focus on the wealth creation and money saving niches with a combines readership of over 1,000,000 people each month.
Ramit Sethi was born in California on 30th June 1982 in Fair Oaks, California. His parents were Indian immigrants who sent him to Bella Vista High School. After graduation he went to Stanford University where he earned his Bachelor’s degree in Arts in Information and society. He continued his education and earned a Master’s degree in arts in social psychology from Oxford University in 2005.
Sethi has become a household name in the marketing industry and he teaches others about creating and scaling businesses.
Understanding the importance of money - Most people are unable to understand its value. Often teenagers will casually spend the money given by their parents and don’t think about their future. Ramit Sethi understood the importance of money from an early age. At the age of 20, he first invested his scholarship money. He lost half of his scholarship money in the stock market but learned important lessons.
Then he decided to start to take classes and teach peers about personal finance, but he quickly felt let down. No one felt the importance in the same way he did. But he didn’t stop. He was determined to build his career in the financial field. At first, he failed to do this because of a lack of guidance. But after graduation, he got a mentor. Seth Godin guided him in the e-learning and digital marketing process. With him, Sethi started an internship and began earning good money. Sethi now owns blogs ang companies which regularly see over 250,000 views each month.
Once he lost his scholarship, he decided there was no more room for mistakes. He reflected on what had happened and began writing about simple mistakes that are costly to make, and how to avoid them. He details these findings in his book, ‘I Will Teach You To Be Rich’ and published it with Workman Publishers in 2009. The book was popular due to its intuitive explanations of human psychology and Sethi’s unique ability to hold the readers interest. Each chapter had a practical to each of the problems he outlines.
If you want to build and grow your wealth Sethi proposes 4 pillars – Saving, Budgeting, Banking, Investing.
The book is so motivational too. He goes into detail on the difference between being frugal and being cheap and the relation between money and food. This book also includes a taste of being a CEO of a company.
Though the sales of his book and his two main websites (I Will Teach You to Be Rich and Growth Lab) Ramit Seth has accumulated a net worth of ~$25 million. He also does some consultancy for large businesses.
Ramit makes it clear that you don’t need any kind of god-given power to be financially strong. Dr. APJ Abdul Kalam used to say,”If you are born poor it is not your fault but if you die poor it is absolutely your fault”. Ramit Sethi tells us to save at least $1000 each month in order to start the process for wealth accumulation.
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