From Yahoo Finance: 2025-06-05 12:31:00

Ramit Sethi, author of “I Will Teach You To Be Rich,” shares how to outpace 95% of people in three months without sacrificing all fun. He emphasizes that a six-figure salary isn’t necessary and provides a blueprint for financial control and long-term goals. Reviewing expenses and investing 10% monthly are key steps.

To gauge monthly spending, review three months of bank statements and credit activity. Housing is a major expense, so consider downsizing or moving to save. Investing at least 10% of your paycheck is crucial, with automated transfers ensuring you pay yourself first. Reaching your crossover point offers financial freedom and options.

Sethi recommends using a retirement calculator to determine when you’ll reach your crossover point. Setting financial goals and aligning spending with values can lead to wealth growth. Starting with a $100,000 goal can accelerate wealth accumulation. Enjoy the journey and ask questions about your new rich life.

Read more: ‘You Don’t Need A 6-Figure Salary’