108. “We achieved FIRE with $4.3M. Why can’t we enjoy it?”

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 20 June 2023

⏱️ 85 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mindy and Carl are in their early 50s with two teenage children and a successful track record flipping real estate that’s helped them build a $4.3M fortune. But as devoted members of the Financial Independence community, they struggle to talk, think, and spend it in healthy ways. This episode is brought to you by: Trade | Right now, Trade is offering our audience a free bag of coffee with any subscription at https://drinktrade.com/ramit. Facet | Get affordable, accessible financial planning with a flat fee membership. For a limited time, the $250 enrollment fee will be waived when you sign up at https://facet.com/ramit. Fabric by Gerber Life | Protect your family today with Fabric by Gerber Life. Apply today in just 10 minutes at https://meetfabric.com/ramit. LMNT | Right now, LMNT is offering 8 single serving packets FREE with any LMNT order. This is a great way to try all 8 flavors. Get yours at https://drinklmnt.com/RAMIT. Links mentioned in this episode • Get the Podcast Newsletter and exclusive Q&A about the show Connect with Ramit • Get Money Coaching with Ramit • Download the Conscious Spending Plan • Get my New York Times best-selling book • Get my no-numbers journal • Other episodes • Instagram • Twitter • YouTube • Submit a question for the newsletter iwt.com/askramit If you and your partner have a money issue and you want my help, I occasionally select a couple to work with, free of charge. Apply for my help here. Produced by Crate Media.

Transcript

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0:00.0	Have you heard people talking about the hedonic treadmill, the idea that once you start spending money on certain things
0:06.8	You're not going to enjoy it anymore and then they usually tell you this so therefore don't get on the hedonic treadmill
0:12.9	Don't spend any money if you get a raise bank at all. I don't love that advice. It's just getting people to play small
0:19.3	I would rather you have a philosophy or a framework on how to know when you are ready to spend more in my life
0:28.2	If you told me remit you can't stay at nice hotels
0:31.8	That would actually be very difficult for me because those things are important to me
0:36.2	For a lot of people if they own a house and you say you can't afford it anymore
0:39.9	You've got a rent or move into an apartment. They would find that incredibly difficult
0:44.4	I don't want you to be afraid of the hedonic treadmill and worry about spending money on anything because you're just gonna
0:49.9	Get used to it. So don't do it at all. No, I want you to have a more nuanced perspective on money
0:55.0	That's why this Saturday on my podcast newsletter. I'm going to share six main areas where once you spend money
1:01.6	It's really difficult to go back and my philosophy is to make sure that you are ready
1:07.5	To move up the value chain before you ever spend money on these things
1:11.9	I set my life up so I would never have to take a step back when it comes to nice hotels
1:16.6	I want you to do the same for the important things in your life get on the newsletter at iwt.com slash podcast newsletter
1:24.2	I'm only sending this particular newsletter out on Saturday, August 12th after that. You will not be able to access it
1:30.4	Iwt.com slash podcast newsletter
1:35.6	He never spends any money. What is Lisa call you Carl?
1:39.6	El Chico
1:40.6	Mr. Chico. Yeah, I mean, that's a good thing to be
1:44.4	Not wasteful with your money and why spend actual dollars when you can spend
1:49.8	points on a hotel instead. I feel
	...

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