Ramit Sethi Net Worth 2024: 10 Brilliant Lessons from Ramit’s Success

Ramit Sethi’s net worth is over $25 million as of 2024.

Most of his wealth is created from his online businesses, including I Will Teach You To Be Rich, Growth Lab, premium online courses, etc.

Ramit started his blog IWT (I Will Teach You To Be Rich) in 2004 while studying technology and psychology at Stanford.

He started his online journey selling a $4.95 eBook. Now, Ramit makes millions of dollars every year from his online businesses. So how did he go from zero to building a million-dollar business?

In this post, let us discuss Ramit Sethi’s net worth and what we can all learn from his online success. 

Who is Ramit Sethi?

Ramit Sethi is an entrepreneur and owner of two popular websites, GrowthLab and I Will Teach You To Be Rich. He’s also the author of the 2009 New York Times Best Seller, “I Will Teach You to Be Rich”.

Ramit Sethi Books:

• I Will Teach You To Be Rich: No Guilt. No Excuses. No Bs. Just a 6-Week Program That Works
• Your Move: The Underdog’s Guide to Building Your Business
• Recruit or Die: How Any Business Can Beat the Big Guys in the War for YoungTalent

So are you curious about what contributed to Ramit Sethi’s online success? Want to know how Ramit Sethi net worth went from $0 to over $25 million? Read on.

10 Inspiring Lessons from Ramit Sethi, IWT Founder

Lesson 1. Develop “systems”, not goals

Ramit is known for creating and developing systems to automate most tasks.

According to Ramit, systems are hard to build but pay off for 20+ years.

If you’re curious, here are some of the systems Ramit developed over the years.

These systems are the PRIMARY reason Ramit Sethi net worth is over 25 million dollars.

You need to decide what you want to achieve to build a system.

You need to pick ONE THING that will take you toward what you want, and regularly improve your system to get AMAZING results with it.

Here’s a simple example if you’re still wondering about the difference between systems and goals.

If you’re an entrepreneur, your goal might be to build a million-dollar business. 

Your system is how you test product ideas, hire the right team and attract high-paying clients.

Similarly, if you’re a blogger, your goal might be earning $10K monthly from blogging. Your system builds an audience, creates a content strategy, generates more traffic, and turns that traffic into profits.

Are you getting it? The systems work like a charm.

Key takeaway: Forget about setting goals. Instead, focus on creating systems that help you efficiently achieve your goals. Systems are more effective because you can control them.

Lesson 2. Start small, grow BIG

Someone once asked Ramit on Twitter, “What if I want an 8-figure business?”

His reply?

The harsh truth is that most people would rather dream about running a million-dollar business than actually running a $10,000 business. 

And.. then, they stop taking action altogether because their goals seem almost impossible to achieve. That’s why you need to start small!

Every professional was once an amateur. Every EXPERT was once a BEGINNER. 

Ramit is no exception. He started his online journey selling a $4.95 ebook. He’s now running a multimillion-dollar business. So dream BIG and start NOW!

In one of his blog posts, Ramit shows how he went from selling a $4.95 book to making $11,000 in a single day.

On the left, you can see the $4.95 sale (2006). On the right: $11,000 in a day (2015).

You’re not going to make $10,000 in a day right now. You don’t know how yet! 

Even if Ramit gives you the secret mantra to his business, you’d have no idea what to do!

But… you can start TODAY and with consistency, you can start earning more and achieve things you ever thought possible.

Key takeaway: Everyone starts at zero. Nobody is born a genius. Everyone has the potential to excel in their fields, but only those who put in a TON of practice and dedication can achieve results that only a genius could achieve. 

Lesson 3: Earn money on the side 

If you’re working on a 9 to 5 job, find ways to earn money. You should start a side hustle.

A side hustle is a way to make money outside of your 9 to 5 job. It helps you earn more money, giving you the freedom to pursue your dreams. 

Ramit used so many side hustles to earn money online, including starting a blog, offering services, selling books, and more, eventually leading him to build a million-dollar business online.

Even I started blogging as a side hustle in 2005 while working on a full-time job. In 2018, I was able to quit my job as I was earning over $10K from the blog you’re currently reading.

In case you’re curious, you can read my blogging journey to find out how I went from zero to earning $10K/mo.

Side hustles always pay. You just have to grind harder for the initial years. 

Key takeaway: Find ways to make money even while you sleep. Focus on creating a side hustle that generates passive income for you. 

Lesson 4: Focus on ACTION, not consumption 

You can read all the blogs and email newsletters you want. But until you take action, nothing will ever change in your life.

Most people wait for things to happen instead of making them happen. That’s why most people live ordinary lives.

Ramit is an action-taker. Once he gets an idea, he immediately puts that thing into action. One of the key secrets of his massive success is quickly turning ideas into execution. 

Key takeaway: Don’t wait for someone to give you permission – take action. Don’t try to be a perfectionist. Take action even when you don’t feel ready.

Lesson 5: Create premium courses that offer HUGE value

98% of the content you find on Ramit’s blog is FREE. The other 2% is what you can find on his premium online courses.

Ramit Sethi has created more than 20 successful online products so far. 

Their prices range from $100 to $25,000. Ramit and his team invest much time and money in creating their products. It’s A LOT of hard work. 

But… their hard work pays off as their courses sell like hotcakes immediately after the launch.

You could offer something for free, but if your audience or customers don’t care, they don’t care. 

So pay attention to what your target audience wants. Find out their problems and desires. Find a solution and deliver it as a product or service. That’s how you make it big.

Key takeaway: Offer exceptional value with your FREE content. That’s what helps you build a loyal following. But make sure to offer something extra in your premium content to make solid profits.

Lesson 6. Understand the psychology of money

Ramit always says, “Don’t ask the $3 questions. Ask the $30,000 questions”.

He’s right!

We’re obsessed with cutting back and feeling guilty about spending $5 on coffee, but we never stop to ask ourselves, “How much are we paying in investment fees?”. 

For many people, that’s tens of thousands of dollars. Have you ever considered negotiating your salary, which throughout your life can be worth well over $100,000? 

Ramit wants us to learn ONE thing: “There’s a limit to how much you can cut down on your savings, but there’s NO LIMIT on how much you can earn.”

Here are some of the areas that ACTUALLY matter:

But instead, many people complain about their taxes going up, Netflix monthly subscription fees going up, etc. But they spend less time on things that actually matter.

That’s why you need to understand the psychology of money. Find ways to earn more money. Spend extravagantly on the things you love and cut costs mercilessly on the things you don’t. That’s how it works (according to Ramit).

If you want to learn and understand Ramit’s psychology of money and looking to learn the automatic money system he uses, you should definitely check out his book.

If you’re curious about managing money well, here’s Ramit’s advice on how to spend less than one hour per month on your finances.

Key takeaway: For starters, spending less can immediately impact your finances but for most other business owners, focusing on earning more helps A LOT in the long run. Find one thing you love most and spend whatever you want on it. Your primary focus should be on earning more.

Lesson 7: Network with influencers

One main reason for Ramit’s MASSIVE success is this: he has connections with influencers like Tim Ferriss. That’s the reason Ramit Sethi net worth is growing rapidly.

He does interviews with almost every influencer in the marketing field. 

What happens when you’ve solid connections with the KEY people in your industry? You’ll achieve results FASTER. That’s why networking is so important.

Key takeaway: Many successful people got to where they are now because of the help they got from others. If you want to succeed in business, network with others. Find influencers in your industry and build strong relationships.

Lesson 8: Never fast-forward your way to success

NOTHING comes easy. Everything worth having in life takes time. 

Most people fail to make money online is they often look for shortcuts. They look for get-rich-quick schemes and often fall for cheap scams. Avoid them at all costs. Find a mentor.

Have a clear vision. Figure out what you want in life and business. Set a deadline (in years). Then, break down your vision (or goal) into small, actionable tasks you can achieve in months. That’s how you succeed!

Key takeaway: It takes time to build an empire. It’s not going to happen overnight. Work hard every single day. Try to automate your work. 

Lesson 9: Be active on social media

Ramit spends a lot of time on social media sites including Twitter, Instagram, Facebook, and YouTube.

Do you know why he does it?

He spends on social media to engage with his “target audience”. 

He uses social media sites for many reasons including;

So if you want to become an influencer or guru in your niche, try to find a platform or social media to engage constantly with your followers. 

Key takeaway: Social media is important because it allows you to reach to a wider audience, nurture, and engage with your target audience. So if you want to increase your net worth like Ramit, make sure to learn how to use social media like a pro.

Lesson 10: Build a great team

One of the primary reasons for Ramit’s success is his TEAM.

Ramit runs two successful online businesses including IWT (I Will Teach You To Be Rich) and GrowthLab.

If you’re curious;

And… he creates LOTS of content on both these platforms. Besides, he also produces videos and podcasts.

So how does he do all that?

He has a fantastic team that helps him with almost everything, including;

The best part? Ramit hires the BEST people. Most of his team members have worked at venture-backed tech startups, major marketing companies, and Fortune 100 companies.

Also, if you’re interested in joining his team to work for Ramit, you can check out the careers page on his blog.

Here are some of the fantastic benefits of joining his team.

Key takeaway: Don’t work solo to get better results. Find a team, train them, and take advice from them. That’s how you build a successful business (be it offline or online). Finding the right team is HARD but you’ll need to pick the right people to grow together. 

Ramit Sethi’s Netflix Show on “How to Get Rich”

Recently, Netflix released a dedicated “Money” series featuring Ramit Sethi (released on 18th April, 2023).

The series quickly went viral across the world.

If you haven’t watched it, grab a cup of coffee and watch it now.

This series teaches you how to develop “Money Psychology,” change your money habits and live a rich life.

Ramit explains what he means by helping people live their rich lives. He also walks you through some of his money rules so you can become financially free.

In the series, he mostly talks about;

• Defining your rich lifestyle
• Why should you NOT buy a home
• Investing tips
• How to use credit cards smartly and pay off debts quickly
• Money management and much more

Here’s the Netflix Link (not an affiliate link)

Top 10 Inspiring Quotes by Ramit Sethi

Are you looking for inspiring quotes by Ramit Sethi? Here are the top 10 Ramit Sethi quotes about entrepreneurship, finance, and life.

There is a limit to how much you can cut but there is no limit to how much you can earn.

The most critical factor to getting rich is getting started, not being the smartest person in the room.

The 85 Percent Solution: Getting started is more important than becoming an expert.

Most people never realize that 80% of the work is done before you step in a room. That’s why they spend their entire lives grasping for magical tactics instead of changing their entire mindset.

In the end, managing your finances well is a lot like developing a strong personal productivity system: You keep track of everything without making it your full-time job; you set goals; you break them down into small bite-size tasks; you save yourself time by automating manual work, and you spend your time and brainpower focusing on the big picture. That’s what I try to do with my time and money.

But ultimately, expertise is about results. You can have the fanciest degrees from the fanciest schools, but your expertise is meaningless if you can’t perform what you were hired to do.

Focus more on being decisive and less on making the “right” decision. You’ll never know until you try; if you’re wrong, you can always try again.

Getting started is more important than spending an exhaustive amount of time researching.

If something isn’t working, don’t try harder or do more. Do something DIFFERENT.

Make the right decisions in life and you’ll never have to worry about saving $3 a day on lattes.

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• Neil Patel Net Worth: Top 10 Lessons from Neil’s Online Success
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• MrBeast Net Worth 2024: How MrBeast Gained 125+ Million Subscribers
• Tony Robbins Net Worth 2024: From Rags to Riches
• Joe Rogan Net Worth: How He Became the Richest Podcaster?
• Grant Cardone Net Worth 2024: How He Got Super Rich?

FAQs About Ramit Sethi  

Here are some of the most frequently asked questions about Ramit Sethi.

Final Thoughts on Ramit Sethi Net Worth

Ramit doesn’t believe in saving $5 on lattes as he thinks a $5 coffee or latte will not change your financial life. Instead, he thinks one can change their life by learning how to invest, how to negotiate a $5,000 raise, and so on.

If you want to follow a different finance approach and learn money or grow a successful business, you should follow Ramit.

So what do you think about Ramit Sethi’s net worth and financial advice? How did Ramit Sethi inspire you? Share your thoughts in the comments below.