140. “He put our $1M into one risky investment. Will we lose it all?” (Part 2)

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 23 January 2024

⏱️ 84 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Sandra, 46, and Brad, 48, return for Part 2 as we get our hands dirty with their incredible decision to invest $1,000,000—their entire net worth—into one oil operation. It’s paying out $20k a month right now, and Brad’s done his research to feel confident. But Sandra can’t handle the risk. This episode is brought to you by: 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. Babbel | Right now, when you purchase a 3-month Babbel subscription, you’ll get an additional 3 months for FREE. Just go to https://Babbel.com and use promo code RAMIT. ZocDoc | Download the ZocDoc app for FREE at https://zocdoc.com/ramit then find and book a top-rated doctor today. Eight Sleep | For a better, smarter sleep, go to https://eightsleep.com/ramit for $200 and free shipping. Superhuman | Get a free month of lightning fast email at https://try.sprh.mn/ramitsethi. Links mentioned in this episode “I’m afraid he’ll leave if I don’t stop stressing about the budget” (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 Listen to my book—now on Audible 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	Do you want me to analyze your spending? I recently did this for a couple in their mid-50s on my newsletter. I took their conscious spending plan numbers and I analyzed it. I showed people what I saw, the things that were red flags to me and also the things they were doing really well.
0:15.6	I'm going to try something new. You're going to have a chance for me to analyze your conscious spending plan and I can keep you anonymous if you like.
0:23.4	So here's what you do. Download the conscious spending plan for free at iwt.com
0:28.6	slash csp fill it out and email it to cSP at IWT.com.
0:35.0	You may be anonymously selected to have your income and spending analyzed by me in an upcoming newsletter.
0:40.0	I'll tell you what I see and I'll give you some personal recommendations on what I would do if I were in your situation.
0:46.0	Of course you can read my thoughts if you're signed up for my newsletter at IWT.com
0:51.0	slash podcast newsletter. So again here are the steps. Download the
0:54.9	CSP for free at IWT.com slash CSP. Fill it out and email it to
1:00.0	CSP at IWT.com and make sure you're signed up for the newsletter at IWT.com
1:06.4	slash podcast newsletter because I'm going to be breaking down the most interesting
1:10.7	examples that I get.
1:22.0	We've invested the majority of the money from the house into an oil operation.
1:22.8	You invested one million into one fracking operation?
1:28.8	Several different fracking operations.
1:32.3	I feel like the system is rigged, right?
1:35.2	Yeah, against you.
1:36.8	With all the IRAs and 401ks and mutual funds
1:40.0	and money advisors?
1:41.2	No, no, not that. The oil game is rigged against you. No, see I don't see it though. I see it like when the deck is stacked against you and every now and again you get like a perfect hand and you go big with it and that's where I'm at
1:55.5	actually she has told me I should get a job probably ten times and she reminds me
2:00.6	about every other week that I'm under employed.
	...

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