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Money For Couples

138. “My wife doesn’t want me to take a $720k job offer”

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.63.1K Ratings

🗓️ 9 January 2024

⏱️ 85 minutes

🧾️ Download transcript

Summary

Mel and Babu are both 33 year-old doctors. Babu’s nearly done with his training, putting a huge decision in front of them about where to live and how much he’ll earn. The income numbers are staggering, but how they both feel about money isn’t affected by the number in their bank account. This episode is brought to you by: Eight Sleep | For a better, smarter sleep, go to https://eightsleep.com/ramit for $200 and free shipping. Mint mobile | To get your new wireless plan for just $15 a month, go to https://mintmobile.com/ramit. Calm | Go to https://calm.com/ramit for 40% off unlimited access to Calm’s entire library. 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. Fabric by Gerber Life | Protect your family today with Fabric by Gerber Life. Apply today in just 10 minutes at https://meetfabric.com/ramit. Links mentioned in this episode “Our financial advisor almost cost us $800k. How do we fire them?” #127 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

I being a medical trainee for the last eight years have sort of been living almost paycheck to paycheck and thankfully Mel has been really supporting me for the last three years and now I'm at a point where I'm about to be complete with my training and I will be a significantly higher earner.

0:21.0

I don't think there's anything that can take away the anxiety of what we've been through over the last few years.

0:29.0

I think once I make a full partner it would probably be somewhere around 55 to 60k months.

0:37.0

Mel, do you accept that this financial change is happening?

0:42.0

That the household income you are about to get regardless of what

0:46.3

job Babu chooses is real.

0:50.7

What makes it difficult to accept is that I can never make that amount of money ever.

1:00.0

Even if I decided to open up my own private practice, I could never, ever again be the one that

1:08.8

supports the house financially.

1:15.0

Meet Mel and Bobboo.

1:17.0

They're both 33-year-old doctors worrying about how to make an important career decision

1:22.0

that's going to change their financial lives forever.

1:24.7

Babu's about to finish his training and he wants to work in one area but Mel is not

1:30.0

on board. What you're going to see in today's conversation is that Mel and Babu have a very

1:35.6

specific way of thinking and that way of thinking has helped them excel in their careers,

1:41.6

but when it comes to these unstructured decisions, like where to work, they are paralyzed.

1:48.0

I specifically wanted to talk to them because a lot of us think about life in a certain way and it's actually helped

1:54.8

us become successful but when we face other situations where we have to think in a

1:59.3

totally different way we also get stuck. It's the beginning of the year a perfect time to think

2:06.8

about what you want your rich life to be this year. Where do you want to spend more

2:11.7

money? Where do you want to cut or redirect your spending?

2:15.0

Now a few weeks ago in my newsletter I shared how to do an end of the year rich life review.

...

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