10 millionaire rules

Ramit Sethi · July 4th, 2011

Here’s what you missed from my Twitter feed,, in the last couple weeks.

On my Twitter account, I write about psychology, testing, personal finance, investing, the best links I’ve found, and stupid people. You won’t find these on my blog.

Quiz: What is your earning potential? Choose the answer you agree with the most
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On today’s episode of “what we SAY vs. what we DO”…how guys SAY they want to be rejected by women. See 1st 2 comments Jun 02 13:31:22 via Timely App

Genius strategy to incent tips at coffee shops…think about how to apply this ***to things people already want to do: Jun 07 15:52:19 via Timely App

10 rules this millionaire couple follows (pretty good): Jun 09 20:28:23 via Timely App

What’s your weirdest (non-sexual) fantasy? This is a goldmine: Jun 10 21:00:35 via Timely App

Interview w/me in Fearless Stories, lots of new stuff: Jun 13 16:40:12 via Timely App

Do you think engineers hate Groupon because it’s a marketing company & not an engineering one?Mon Jun 13 20:19:19 via Timely App

Check out the first comment on this thread. Show it to anyone who claims they’re NOT affected by advertising. Jun 15 01:17:19 via Timely App

I can’t wait to NOT do this for my future kids: Jun 18 19:02:31 via Timely App

MYTH #62. “I’m a good person…I would never do that.” TRUTH: A skilled persuader could get you to do almost anything. Jun 21 20:58:16 via Timely App

A truly damning indictment of social media’s effectiveness for sales. How will “social media experts” spin this one? Jun 28 04:22:56 via web

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  1. How did I just KNOW that someone in that millionaire couple was Chinese? My husband is the same way.

    I’m going to discuss using the tip jar idea with my mother at our retail store. I love it. It’s brilliant.

  2. I tried following you but everytime you wrote a blog post, you would tweet a link to it 4-5 times. Are you just trying to inflate page views? It got
    too annoying to see the exact same article come up over and over in my feed so I unfollowed you.

    • Ramit Sethi

      Nah, I don’t link to articles 4-5x. Usually 2x max the day they are published. Pageviews aren’t a metric I care about since I don’t sell ads. Sorry to hear you unsubscribed, but give it another shot. There is a lot of cool stuff I only publish to Twitter.

  3. Internet Specialist

    Thank you for blogging your tweets.

    I hope you can email them to me later. It would be quite helpful.

    Is there some kind of pay service available where I could get a hard copy newsletter of these as well?

  4. David

    These links are fantastic. I follow you on twitter but only check in 2-4 times a week so I miss out on a lot of great articles. Thanks for putting them up on the blog!

  5. I like how the millionaire couple recommends only buying used cars. This is one of the few things that I disagree you about. It’d be great if you did another article about buying cars as I didn’t find enough real data in your last posts to justify buying new.

    Your argument seems to center around a choice between a brand new, reliable car vs. an old piece of junk. In that case, of course buy the new one.

    But in my opinion, the smartest tactic is to buy a recent, low-miles used car with cash and keep it a long time. Pick a make/model that has a decent warranty and good reliability ratings, but doesn’t hold its value ridiculously like Toyota or Honda (or Subaru in my area; seriously, why are the 1-2 year old ones more expensive than new?).

    If you plan to keep it “forever,” why do you care about resale value? If you pay cash, the low interest rates offered on new cars don’t matter. And by buying used, you let someone else pay the price for “driving it off the lot,” while you save 15-20% and still get a car that’s just as good as new. And seriously, you can get that new car smell in a bottle for 99 cents at the auto parts store.

  6. SB(One Cent At A Time)

    Blogging about tweets and tweets about blogging. Nice approach!

  7. Not sure if it was deliberate, a Yoghurt place near me got a change tip because they gave me 58c with no quarters. If there had been quarters, I’d have kept them for laundry, but I’ve got no use for dimes…

  8. Greg Miliates

    Buying a New York apartment–or any real estate for your child has huge implications, and I’m not talking about tax implications. When you buy such a large item for a child–even an adult child–they won’t value it as much as they would if they had to work to earn the money to buy it for themselves. And this leads to a sense of entitlement, that colors their worldview and even how they view–and possibly judge–others.

    Working to earn what you get is a basic life skill that determines your worldview. I’m not saying that it’s not OK to give your kids things. But what message are you sending when you give your kid a $250,000 piece of real estate?

    As a young adult, I would have welcomed that kind of a gift, but I can say for a fact that struggling to pay my tuition, rent, and living expense as a college student taught me the value of money, and that I had to work hard to earn anything.

    • Ramit Sethi

      I kind of agree in the sense that I already hate my future kids for having more than I had growing up. I can’t wait to sit in first class and shove them back to economy, shouting “YOU START A BLOG AND YOU CAN GET THIS TOO.”

      But I used to think that people who got stuff like apartments/college tuition were lazy and unappreciative. Most of my Stanford friends, for example, had their entire tuition covered by mom and dad.

      But there wasn’t a clear trend of “Oh, they don’t appreciate it.” Some did, some didn’t.

      Within the first month, I learned that my assumptions were way off.

  9. Sariata

    Hey Ramit! I’ve been following your posts for afew weeks now, and recently following you on Twitter and I love it! Your no-nonesense approach to financial advice is awesome 🙂

    Can you please recommend a good financial book for a Canadian, or better yet, a book for someone that travels a lot and needs to learn how to get financial issues in order while having to deal with lots of bank wire fees and traveling expenses? I’d buy yours but I’m pretty sure much of the content will not be useful if I’m not using the American banking and tax system.

    And to keep this comment slightly relevant, I really loved the ‘non-sexual fantasy’ tweet 😉

  10. bits & pieces: july 6, 2011 | theoneinpink

    […] This ‘trend’ of buying kids apartments sounds like a terrible idea. Whatever happened to people having to learn financial lessons themselves? via I Will Teach You To Be Rich […]