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Money For Couples with Ramit Sethi

15. “I have a $1 million trust fund and I’m scared to spend money on food”

Money For Couples with Ramit Sethi

Ramit Sethi

Investing, Society & Culture, Relationships, Business

0.00 Ratings

🗓️ 26 October 2021

⏱️ 49 minutes

🧾️ Download transcript

Summary

Andy and Kate bring in $200,000 a year and live rent free. Andy feels bad about money every day. His partner, Kate, says she wants to work as a financial team, but she walks on eggshells. Andy wants to make her happy, but he has a poor relationship with money. And that’s not all. Andy has $1.1 million dollars in a trust fund, managed by a financial advisor, and he still has holes in his shoes. I asked them, “Do you want to turn 65, have $10 million, and still worry about getting dessert?” Andy will have to decide if he’s going to let his old money stories determine the next 50 years of his life.  Connect with Ramit Website Instagram Twitter Facebook YouTube Linkedin 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 don't feel like we are working as a team when it comes to money.

0:10.0

There are days that I couldn't afford food. I felt like.

0:13.0

You could definitely afford food. I mean, I guess I could.

0:18.0

I see how much it affects Andy and I think that he and I miss out on shared experiences.

0:24.0

Because of that, I think for example, like we've not ever taken any sort of like extravagant

0:29.0

vacation together because the cost associated with that was anxiety inducing and stressful.

0:35.0

I used to use New York's expensive as my excuse to not really deal with money.

0:39.0

I don't live there anymore. So jokes on me.

0:42.0

I know my father sometimes got very upset if he felt I was being wasteful with money.

0:47.0

It took me more than four years to finish college.

0:49.0

She wasn't super happy about that.

0:51.0

Have you ever felt good about money?

0:56.0

Yes, no. I guess I should now, but I don't.

1:05.0

I'm Rameet Sati and you're listening to the I will teach you to be rich podcast.

1:09.0

Today, I'd like you to meet Kate and Andy.

1:12.0

Andy feels very anxious around money.

1:15.0

In fact, he doesn't feel like he has enough to cover the basics like rent, bills, food,

1:21.0

let alone luxuries so that he can enjoy his life.

1:26.0

Oh, and by the way, his household income with Kate is over $200,000.

1:31.0

Let me tell you how that breaks down because it's important.

1:34.0

160,000 of that comes from Kate.

1:37.0

Andy makes 45,000 from his job and a further 25,000 from a distribution.

...

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