172. “We saved for retirement but have no money to spend NOW” (Part 1)

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 3 September 2024

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

Michelle is 42, Ryan is 43. They’ve been married for 9 years and share three young children. Michelle worries about money; she always has. Ryan knows they’re in trouble, but can’t say no to their kids. On one income, spending outpaces earning—slowly draining their savings and weighing them down with dread over the future. This episode is brought to you by: Netsuite | Get visibility to everything in your business in one place. Sign up and defer payments, with no interest, for six months at https://iwt.com/netsuite. Superhuman | Get a free month of lightning fast email at https://try.sprh.mn/ramitsethi. DeleteMe | If you want to get your personal information removed from the web, go to https://joindeleteme.com/ramit for 20% off. 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. 99 Designs | Get $50 off your first design contest at 99designs.com/ramit. Connect with Ramit • Pre-order my upcoming book: Money for Couples • Get the Podcast Newsletter and exclusive Q&A about the show • Sign up to attend a live event on my book tour • 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 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	On today's episode, we are stuck with everything that we currently have.
0:04.0	We stop dreaming. You know, you can't dream at 113%.
0:07.0	I definitely feel stuck most days. I'm just trying to survive.
0:11.0	Meet Michelle and Ryan. Michelle is 42 and she is a warrior.
0:15.0	He doesn't think twice.
0:16.0	Like we miss the credit card payment by a couple of days.
0:18.0	This is like horrifying to me.
0:20.0	He's like, eh, do better next month.
0:21.0	I think I would like an equal worrier.
0:24.0	Ryan is 43 and he refuses to worry about money.
0:28.0	Ryan, you don't worry about money, right?
0:30.0	I'm going to say not anymore.
0:31.0	I made decisions based on money that in hindsight I later
0:34.4	regretted and I kind of just at some point said I'm never doing that again.
0:38.0	As we dig deeper we learned that Michelle is resentful of how her relationship with money was different than Ryan's when she was growing up.
0:45.8	So when I'm sitting there, babysitting, with my several side hustles at age 24 watching Susie
0:50.3	Orman, this guy is out in Australia living it up, racking up the credit
0:55.8	cards because he could. He had a place to fall back to. I did not. Can Michelle and
1:00.0	Ryan see beyond the past and stop the bleeding so they can start living
1:03.6	their rich life today. This is a crisis. Look at the spreadsheet.
1:07.2	It's not works. It really is death by a thousand paper cuts. I think big
1:10.4	changes need to be made. I think I'm a little afraid to make them.
	...

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