Ramit Sethi argues that skipping lattes won't make you rich. It would take 498 years of $5 coffees to save $1 million. Real wealth comes from tackling $30,000 decisions that generate hundreds of thousands or millions of dollars.
You don't need to skip your $5 lattes if you want to get rich. This kind of advice is everywhere, and a lot of times it's from rich people who are shaming you. If you wanted to save $1 million, you would have to skip over 180,000 daily cups of coffee. It'll only take you 498 years to save that million dollars. These are what I call $3 questions. I would rather have you focus on $30,000 questions. That can put hundreds, thousands, even millions of dollars back in your pocket. In this video, I'm going to go over 10 ridiculous pieces of personal finance advice. You can just take it, ignore it all. Number 10 is especially controversial because it's like a religion in America. But if you're not careful, it could end up costing you hundreds of thousands of dollars with no end in sight.
