Problems of Inaction:

• “When it comes to weight loss, 99.99 percent of us need to know only two things: Eat less and exercise more. Only elite athletes need to do more. But instead of accepting these simple truths and acting on them, we discuss trans fats, diet pills, and Atkins versus South Beach.”
• “People love to argue minor points, partially because they feel it absolves them from actually having to do anything.”

“The single most important thing you can do to be rich is to start early.”

The Key Messages of IWTYTBR:

• Focus on 85%, getting started is more important than becoming an expert.
• It’s okay to make mistakes, so long as you get started.
• Ordinary actions will get you ordinary results
• Don’t touch your system much once it’s set up
• Spend extravagantly on what you love, and cut back relentlessly on what you don’t

The 6-Week Gameplan:

1. Set up your credit cards and learn how to improve your credit score
2. Get your bank accounts set up right
3. Open a 401k and investment account
4. Figure out how much you’re spending and what to do with your money
5. Automate your new infrastructure so your accounts flow together nicely
6. Learn about investing and why it isn’t the same as picking stocks

Six rules for credit cards:

1. Pay off your credit cards regularly, don’t pay interest!
2. Get all fees waived on your card (there’s a script in the book)
3. Negotiate a lower APR
4. Keep your cards for a while and keep them active
5. Get more credit if you have no debt (only if you have no debt)
6. Use your rewards as you get them

“On average, millionares invest 20% of their income each year”

“Frugality isn’t about cutting your spending on everything. That approach wouldn’t last two days. Frugality, quite simply, is about choosing the things you love enough to spend extravagantly on— and then cutting costs mercilessly on the things you don’t love.”

“Don’t just save, save for a goal”

Set up the automations so that money goes straight to your investments and savings without you seeing it. That way you don’t try to save after, you save before.

Buy index funds, not individual stocks. (Better diversification options can be found in Money Master the Game, or, better, use Wealthfront)