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Review: I Will Teach You To Be Rich

Review: I Will Teach You To Be Rich

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    As far as personal finance blogs go, Ramit Sethi’s I Will Teach You to Be Rich can’t help but stand out. Most of the personal finance blogs out there stick to calm explanations of what the writers are doing to improve their own finances, along with some tips meant to get readers interested in doing things the same way. In contrast, Sethi’s blog is loud, full of concrete examples on how to do things and aggressively effective. It makes Sethi stand out among the rest of the personal finance bloggers out there — and it’s made for a very interesting book. Sethi’s book, also titled I Will Teach You to Be Rich, came out yesterday and it’s already making some waves.

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    A Targeted Guide

    Sethi know his audience. I Will Teach You to Be Rich is aimed at 20-to-35 year olds, and it’s essentially a guide to getting your finances on track. The book covers a six-week program that automates saving and jump-starts investing — with more than a little information on banking, budgeting and entrepreneurship along the way. The information is very targeted: heavy hitting chapters on banking, for instance, are aimed towards readers who aren’t quite up to speed on all the ways banks make money off of account holders. That may seem to guarantee that the book will only offer introductory level material on personal finance, but I was surprised to see that it actually goes pretty in-depth. On the topic of banking, for instance, Sethi dives into the complexities of overdraft fees to the extent of providing guides to negotiating your way out of that first overdraft fee.

    I won’t claim that it’s an exhaustive volume — at just over 250 pages there just isn’t room for even half the material Sethi has covered on his blog. But I Will Teach You to Be Rich will definitely give the average twenty-something the tools necessary to get his or her financial house in order, along with some ideas on why to bother. The introduction asks, “Would you rather be sexy or rich?” With that question, Sethi embarks on an analogy that can’t help but make sense: money is like food. Most of us have stressed over our weight at some point or another and tried at least one ridiculous diet. But the fact of the matter is that the only thing we really need to know about food is that we should eat less and exercise more. Sethi makes the argument that the same level of simplicity is all it takes to keep our finances under control. It’s not a sexy approach — but it is an approach that can make you rich in the long run.

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    The language, anecdotes and overall style does make it very clear that you’re reading a book for the college-to-mid-thirties crowd. There are a few colorful metaphors, accompanied by shout-outs to Sethi’s mom. I Will Teach You to Be Rich is certainly one of the funnest books I’ve read on personal finance, and you shouldn’t think for a moment that the style detracts from the quality of information that Sethi shares. But it does certainly make it an easier read than most ‘must-read’ personal finance guides.

    The Emphasis on Entrepreneurship

    Where I think Sethi knocks it out of the park, both in his blog and in his book, is his emphasis on entrepreneurship. While most personal finance resources talk about topics like automating your finances or long-term investment strategies (albeit with less style), surprisingly few really promote entrepreneurship. In I Will Teach You to Be Rich, Sethi doesn’t go overboard with entrepreneurial concepts — after all, the book is first and foremost about achieving financial independence. But there are little discussions, here and there, that make it clear that Sethi doesn’t really expect anyone who has their finances taken care of to stick with an employer for the long-term.

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    It’s easy to attribute Sethi’s support for entrepreneurship as a part of personal finance to his own life: Sethi co-founded PBwiki and has turned his personal finance blog into a site with over 200,000 readers each month. But I think there’s more to it than that. I think that entrepreneurship is becoming more important, especially as people feel less secure in their jobs and have more options.

    Sethi tackles it from the point of view that most personal finance bloggers are focused on frugality — which seems like a pretty fair statement. In contrast, Sethi has focused on making money, whether through asking for a raise, investing and starting a money-making enterprise of one’s own. Don’t get me wrong — Sethi has devoted entire months to saving money. He just goes for the big savings, rather than frugal tips like making your own soap. But overall, Sethi focuses on helping readers to figure out how they can grow their earnings over time — and that is an approach that will really pay off. It makes both Sethi’s book and blog worth reading in my mind.

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    The Book

    If you’re interested in picking up a copy of I Will Teach You to Be Rich, Amazon lists it as in stock on March 27. I did see copies on the shelf of my local major bookseller last night, however, so they are out there. I’m interested in seeing what you think of the book — personally, this is one book I think I’ll be referring back to.

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    Last Updated on November 12, 2020

    What Is Speed Reading and How to Successfully Learn It

    What Is Speed Reading and How to Successfully Learn It

    You have so many books waiting for your attention, but you just don’t have enough time! Don’t you wish you could read faster without compromising your knowledge intake? This is where a valuable learning technique comes to the rescue: speed reading.

    Speed reading is the top skill to learn in 2020. Read on to find out all about this amazing technique!

    What Is Speed Reading?

    On average, an adult can read somewhere between 200 to 300 words per minute. With speed reading skills, you can read much fasteraround 1500 words per minute.[1] Yes, that sounds impossible, but it’s true.

    In order to understand how this skill works, you first need to know how the reading process works inside a human’s brain.

    The Reading Process

    The first step is for the eyes to look at a word. This “fixation” on every word takes around 0.25 seconds.

    Next, you start moving your eyes to the following word. It takes 0.1 seconds for the brain to move from one word to the next. This is called “saccade.”

    Usually, you take in 4-5 words in your head, or a sentence, at once. After all the fixations and saccades, the brain goes over the entire phrase again in order to process the meaning. This takes around half a second.

    All in all, this means average people read 200 to 300 words in a minute.

    Speeding up the Process

    The concept of speed reading is to speed up this process by at least 5 times. Since the saccade period cannot be shortened any further, speed reading emphasizes quicker fixations.

    To accomplish this, scientists recommend that the reader skips the sub-vocalization: when the readers actually say the word in their mind, even when reading silently.

    Basically, speed reading is the technique of only seeing the words instead of speaking them silently.

    Do not confuse this with skimming. When a reader skims through a text, they skip the parts that their brain considers to be unnecessary. You may skip important information in this process, and skimming does not allow the brain to retain what has been read.

    Why Speed Read?

    Speed reading is not just quick, but it’s also effective. This skill saves a lot of of time without sacrificing information.

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    Also, it has been proven to improve memory. The brain’s performance improves during speed reading, which allows the reader to remember more information than before[2].

    Since speed reading stabilizes the brain, the information is processed faster and more efficiently.

    Believe it or not, this technique leads to improved focus, too. As the brain receives a lot of information during speed reading, there is far less chance of distraction. The brain focuses solely on the job at hand.

    Since the brain is, after all, a muscle, the process of speed reading acts as an exercise. Just like the rest of your muscles, your brain needs exercise to grow stronger, too.

    A focused brain means improved logical thinking. As your brain gets used to receiving and organizing so much information so quickly, your thinking process will become faster. As soon as a problem is thrown at you, your brain will quickly put two and two together. You will be able to retrieve stored information, figure out correlations, and come up with new solutions, all within seconds!

    Still not convinced? Read 10 Reasons Why You Should Learn Speed Reading

    Greater Benefits

    With a healthier brain, you can expect better things in other parts of your life, too. A boost in self-esteem is just one of them.

    As you begin to understand information at a faster pace, you will also begin to figure out more opportunities all around you.

    With the ability to deeply understand information in a shorter period of time, your confidence levels will quickly grow.

    Moreover, all the aforementioned benefits will relieve you of stress. With all these advantages, your emotional well-being will be healthier than ever. You’ll feel less stress since your brain will learn to tackle problems efficiently. Speed reading will lead to a relaxed, tension-free lifestyle!

    How to Learn to Speed Read

    Speed reading is a superpower. Fortunately, unlike other superpowers, this one can be learned!

    There are different techniques that can be used to master this skill. Opt for the one that best suits your learning style.

    1. The Pointer Method

    The person who is credited for popularizing speed reading, Evelyn Wood, came up with the pointer method. It is a simple technique in which the reader uses their index finger to slide across the text that they’re reading.

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    As the finger moves, the brain coherently moves along with it. It is an effective technique to keep the eyes focused where the finger goes without causing any distraction.

    Readers have a tendency to back-skip. The pointer method prevents this from happening, thereby saving at least half the reading time.

    2. The Scanning Method

    In this technique, the reader’s eyes move along one part of the page only. This can be the left or right side of the text but is usually the center since that is the most convenient.

    Instead of pacing through the entire text from left to right, the vision shifts from top to bottom.

    This method involves fixation on keywords, such as names, figures, or other specific terms. By doing so, the saccade time is minimized.

    3. Perceptual Expansion

    Generally, a reader focuses on one word at a time. This technique, on the other hand, encourages the brain to read a chunk of words together. In doing so, this method increases the reader’s peripheral vision.

    Here’s the thing: even though the fixation time remains the same with perceptual expansion, the number of words that the eyes fixate on increases.

    Basically, the brain receives 5 times more information within the same amount of time.

    This technique is the hardest to master and takes the most time to learn. You’ll need help from speed reading tools in order to practice the perceptual expansion method.

    However, once you master it, this technique will offer you the fastest reading pace with the maximum knowledge intake.

    The Best Speed Reading Apps

    The easiest tool to aid any process in any part of life these days is your smartphone.

    You can use mobile applications to learn speed reading on the go. It has been proven that regularly practicing speed reading is the fastest way to learn this skill.[3]

    Here are a few great options to look into:

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    1. Reedy

    If you own an Android smartphone, you can download Reedy to your mobile. Otherwise, get the Chrome extension on your laptop to enjoy speed reading with Reedy.

    This app trains readers to read faster by displaying words one by one on the screen. Instead of having to go through lines or long texts, Reedy prepares the user to focus on one word at a time.

    Although this isn’t an effective method to learn speed reading long texts, it is a great way to start.

    2. ReadMe!

    Whether you’re an android or iOS user, you can take advantage of the ReadMe! application. This app even comes with some e-book options to practice speed reading on.

    Start by choosing your desired font size, color, layout, etc. Other than that, there are different reading modes for the user to choose from.

     

    If you want to practice reading sentence by sentence or in short paragraphs, you can choose the focused reading mode.

    The beeline reader mode changes the color of the text to guide the eye to read from the beginning to the end at a certain pace.

    Lastly, there is the spritz mode in which the app focuses on chunks of words at once. This controls the reader’s peripheral vision. However, this mode is not fully available in the free version of the app.

    3. Spreeder

    Spreeder is available on both iOS and Android. However, users may also gain benefits from Spreeder’s website. This application lets the reader paste in any text that they would like to speed read.

    Starting off at a rather low speed, the app flashes words one by one. Gradually, as the user becomes more comfortable, the speed increases.

    Slowly, the user is trained to speed read without having to skip any words.

    This app is different from the rest because it tracks the user’s reading improvements, recording the overall reading time and speed.

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    The Controversy Surrounding Speed Reading

    Truthfully, speed reading does sound too good to be true. It’s hard to believe that it is humanly possible to attain such a fast pace without compromising the quality of information you receive.

    Perhaps as a result, there are people who do not trust the process of speed reading. They believe that when you read through a text at such a high speed, speed readers cannot develop good comprehension.

    It is true that speed reading will be of no use if you do not understand the text you’re reading, no matter how quickly you did it.

    Similarly, if you were to read slowly and still not retain or understand the information you read, that would be useless, too.

    However, there are a few factors to consider here. When reading at a normal pace, there is enough time in between every step of the process for the brain to get distracted.

    Conversely, speed reading leaves behind no time for the brain to focus on something else. It is unlike skimming. No part of the text is skipped, which means that the brain receives every single bit of information.

    If you’re still not convinced, take a look at this video to learn about reading faster:

    Conclusion

    Keeping all of this in mind, speed reading cannot be labeled a hoax or a failure. Science has backed up this technique, and numerous readers have been using this skill to improve their learning ability and reading comprehension, even when reading for pleasure.

    At the end of the day, it is your decision whether or not you want to trust this process.

    However, if you decide to take advantage of the opportunities speed reading provides, you will find a world of possibilities opening up to you.

    We live in a fast-paced world. Consuming information faster will help you keep up with that pace and find further success.

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    Featured photo credit: Blaz Photo via unsplash.com

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