137. “MLMs, crypto, real estate—I can’t stop falling for get-rich-quick schemes” (Part 2)

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 2 January 2024

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

David, 33, and Halima, 37, return to follow-up on last week’s episode, where we learned about their debt, painful backgrounds, unrealistic expectations, and patterns of negative behavior with money. Today, Ramit brings them back down to earth, dissects their numbers, and sets the stakes. This episode is brought to you by: AG1 | Take ownership of your health with AG1. Get one year’s supply of Vitamin D3 K2 and five free AG1 travel packs with your first purchase at https://drinkAG1.com/ramit. Rocket Money | Stop throwing your money away. Cancel unwanted subscriptions – and manage your expenses the easy way – by going to https://rocketmoney.com/ramit. Netsuite | Get visibility to everything in your business one one place. Sign up and defer payments, with no interest, for six months at https://iwt.com/netsuite. 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. DeleteMe | If you want to get your personal information removed from the web, go to https://joindeleteme.com/ramit for 20% off. Links mentioned in this episode “We have $500k in debt. Can I retire early?” (Part 1) Connect with Ramit Get the Podcast Newsletter and exclusive Q&A about the show 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

Click on a timestamp to play from that location

0:00.0	If you'll keep doing this you'll just be stuck here forever.
0:05.0	We're not hoping for the next big thing to come around the corner.
0:07.5	There's no secret money coming in. This is it.
0:10.0	We see the fire.
0:11.0	What happens if you change nothing?
0:13.0	I will be working till I die and what's worse is she'll be working until she dies as well.
0:20.0	He said looking at the numbers I feel rich.
0:22.0	How do you reconcile that?
0:24.7	I don't know. Wanted to create a life where I can, you know, provide for my wife and kids give them a better life than what I've had
0:36.1	we shouldn't be in this type of position failing and feel like I've gotten us into this
0:42.1	and I do want to live bigger.
0:44.0	You know, it's hard to put into words,
0:48.0	but you know, like at the end of every week,
0:50.0	I'm just kind of like, is this it?
0:59.5	Welcome to Part 2 with David and Halima. They initially approached me wondering
1:01.4	if he could retire early and Helima felt disconnected about money.
1:06.2	At the end of our conversation last week we discovered they're in $500,000 of debt.
1:10.6	They're in the middle of a renovation that has no end in sight. They have credit card debt, they have a time share, and they finally started to realize what a situation they are in.
1:22.0	Today we are dropping right back
1:24.7	into the heat of that conversation,
1:27.1	and I want to urge you to stick with us
1:29.2	because this conversation takes a lot of turns. You know what you don't need? Some dude coming on a video and
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Ramit Sethi, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Ramit Sethi and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.