(As for the side discussion on Twilight and Harry Potter… I’m on the 4th Twilight book, and the series just seems to be getting worse as I go. I hate it – I keep reading it because I was asked to write a chapter about it in an upcoming book. But frankly, I can’t find any redeeming characteristics. I think it provides a horrible role model for young girls, and that it glorifies male stalkers. Harry Potter, on the other hand, I found very entertaining, and enjoyed all of the tie-ins and references to classical literature.)

Love him or hate him, I think Ramit has a twitter-like style that the 20-somethings relate to. When I see 20-somethings talk about long term investment planning and savings, I’m floored. I think he has been influential among his generation. I disagree with him that counting lattes don’t matter, but I can’t begrudge him if he has an audience who is listening to his big picture advice.

Interestingly I think the Potter movies are excellent, the Twilight one being a complete let down. Sigh. Or is that just in keeping with good books making poor movies and vice versa?

Ramit is telling a lot of young people to spend less than they earn. Basic concepts that their parents failed to teach them as they are saddled with debt they can’t afford and a now non existent retirement. I am rooting for these young college grads to do better. Since their parents failed to teach them these skills, I’m glad someone like Ramit is speaking to them (and they are listening). Ramit’s book beat out the teen vampire books “Twilight” for crying out loud. That’s like the vampire Harry Potter.

From JD Roth’s book review:

Each chapter includes a “guest” article from a prominent blogger, including Gina Trapani from Lifehacker (and now Smarterware), Trent Hamm from The Simple Dollar, Flexo from Consumerism Commentary, and yours truly.

http://www.getrichslowly.org/blog/2009/03/23/book-review-i-will-teach-you-to-be-rich/

Thanks for the review. What book do you recommend? Of course without the humor, brash, in your face style? I’m a 25 but also want to know about other useful material. Thanks in advance.

-Mig

Trent, I saw a review of this book on another PF blog and the blog author took offense when I suggested that someone of his caliber might be accepting a quid pr quo for promoting the book. So I will not suggest that here.

You have written a thorough and thoughtful review. As an avid reader of many, many “self help” or “how to” books as well as an actual physical attendee at many, many conferences, seminars and workshops along these lines I can only think that this is yet another in a long line of “I Can Teach You How to ‘Make Me Rich’ – Buy This Book.”

Hey, I’m all for capitalism and the American Way but peddling books with titles such as this one makes me want to run as fast as I can in the other direction.

I also think the assumption re: TSD & debt isn’t necessarily correct. I have never had any debt, besides our mortgage. But I am interested in personal finance and enjoy Trent’s writing style. Although many of the articles don’t speak to me, some do. I also really like the comments section.

The only thing that really irritated me in the book was when he bashed “old white men”, as if being white has something to do with people giving bad or outdated advice?

But I guess that’s the new multicultural society we live in.

For me financial success would mean:
1. Living in a lovely, paid off house of at least 1500 square feet.
2. Driving an efficient car new enough to still be under warranty
3. Eating my favorite foods at home and dining out whenever I wanted.
4. Living “off the grid” with up-to-date appliances and affording all my other utilities.
5. Hiring housekeeping and grounds maintenance help as needed.
6. Having a home entertainment system with plenty of programming options.
7. Wearing quality clothes and shoes but not necessarily designer labels.
8. Acquiring antiques and beautiful things without cluttering my home.
9. Attending several movies a month and a few live entertainment events per year.
10. Pampering a half dozen pets.
11. Exploring new hobbies and taking a trip every few years.
12. Maintaining a handful of magazine and online subscriptions.
13. Having excellent health coverage and getting weight loss surgery.
14. Having a haircut and highlights every couple of months at a mid-range salon and getting laser hair removal.
15. Having considerable savings and an adequate emergency fund in the bank.
16. Giving to many charities and helping friends and family in need.

Too much to ask for? Maybe, but it’s a middle to upper-middle class American existence, not copious luxury. As it is, I am actually:
1. Living in a 750 square foot house with many maintenance and remodeling needs.
2. Driving a 1994 clunker with no warranty.
3. Eating mostly generic brands at home and fast food or the cheapest restaurants when out.
4. Enslaved to the power company and stuck with depreciated, inefficient appliances.
5. Cleaning my own house and having no landscaping beyond a teenager mowing my grass.
6. Watching basic cable on a 10-year-old TV.
7. Wearing secondhand, discount store or clearance rack clothes.
8. Scavenging home decor from bargain bins and yard sales.
9. Attending one movie a week and missing most live theater and concerts I’d like to see.
10. Feeding 3 rescued cats generic food and taking them to clinics instead of the vet.
11. Stuck with cheap pastimes and unlikely to travel unless I win a trip.
12. Reading whatever magazines I can find online.
13. Relying on Medicare and the hassles and stigma that go with it.
14. Shaving every few days and getting one haircut a year at Great Clips or Fantastic Sams.
15. Proud of the measley $300 I’ve socked away.
16. Contributing $10 or so a few times a year to the charities dearest to my heart. Feeling powerless when friends and family struggle with financial disasters.

I’m not complaining, though, because most of my basic needs are met, and I’m actually happy most of the time. Money can make life better in many ways, but it is not the solution or savior many think it to be. What matters most is enjoying life to the fullest, whatever your financial situation may be. The best things in life are free, the second-best are cheap, and the expensive aren’t always as great as they seem.