Ramit SethiRamit Sethi: The No-BS Guide to Living a Rich Life

Money Expert: How To Build Generational Wealth

12 Apr 2024 · 0 min

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0:29

A brief excerpt from Ramit Sethi's YouTube video offering concise, actionable steps to build wealth: (1) start as early as possible but begin now regardless of age, (2) invest aggressively every month, and (3) keep investment costs low. The speaker quantifies fee drag: 1% in fees can reduce returns by ~28% and 2% by over 55%.

Questions this video answers

It takes 28% of your returns.

It takes over 55% of your returns.

16, 30, 40, and 45.

To make a lot of money. You do not have to be the smartest person in the room. You just need to remember a few key things. Start as early as possible. And if you're not 16 years old, if you're 30, 40, even 45, okay, start now. Second, invest aggressively every single month. That's critical. Third, keep your costs low. One percent in fees is going to take 28% of your returns. Two percent is going to take over 55% of your returns. If you do those things, you will have more money than you ever imagined.