I Will Teach You To Be Rich: UK Review
Ramit Sethi wrote the most useful US personal finance book of the last 20 years. Swap his Roth IRA for an ISA, his 401(k) for a SIPP, and the 6-week plan works almost unchanged.
Sethi's US accounts and their UK equivalents
| US concept | UK equivalent | Use |
|---|---|---|
| 401(k) | Workplace pension | Auto-enrolled retirement pot |
| Roth IRA | Stocks and Shares ISA | Tax-free long-term investing |
| Traditional IRA | SIPP | Tax-relief retirement saving |
| FDIC insurance | FSCS protection | Up to £85k per banking licence |
The 6-week plan works almost unchanged once you swap the wrappers.
Key takeaways
Set up dedicated accounts like a current account, Stocks and Shares ISA, Cash ISA, and SIPP for different financial purposes.
Automate savings and investments by setting up standing orders from your current account to your ISA and savings account.
Prioritise paying off high-interest debt, like credit card debt, while making minimum payments on other debts.
Build a strong credit score by keeping old credit cards open, registering on the electoral roll, and avoiding multiple hard searches.