Book Review: 3/5 Impact On Me (Book By Ramit Sethi)
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I read this book to decide what to do about my mortgage renewal. Should I a) refinance with a lump sum payment to reduce my monthly mortgage payments or b) keep the current payments and invest any extra money or savings in ETFs? This information was in the appendix, and I'm glad I read that far. Some chapters focus on the US, such as US savings accounts, credit cards, the stock market rate of return, and robo-advisors like Wealthfront and Vanguard index funds. The author writes about what he knows best. But, these chapters were less relevant to me since I moved from the US to Europe. Ireland in Europe doesn't have those options.
I loved the author's idea of a rich life, which made my wife and I think about what makes us feel luxurious or rich and what we are willing to give up. One challenge was that many things that would make us feel rich are also very expensive. It's not like having luxury toilet paper; it's like having a large mansion in an expensive area. Despite this, I did an exercise to write down my idea of a rich life. The book had a 3/5 impact on me because it made me think about a rich life, mortgages, and savings in buy-and-hold ETFs./