179. “He just turned 50 and we have no savings. I’m panicking.”

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 22 October 2024

⏱️ 85 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Kate is a 43-year-old mom and homeschool teacher. Drew is a 50-year-old professor. They’re $480k in debt with no savings and no retirement plan. Kate is panicking—but Drew refuses to talk about it, and neither of them are willing to make big spending cuts or say “no” to their kids’ expenses. This episode is brought to you by: Our Place | Use code RAMIT to receive 10% sitewide at https://fromourplace.com. Rocket Money | Stop throwing your money away. Cancel unwanted subscriptions – and manage your expenses the easy way – by going to https://rocketmoney.com/ramit. Shopify | Sign up for a $1 per month trial period at https://shopify.com/ramit. 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. Links mentioned in this episode • Get Money Coaching with Ramit • Get my New York Times best-selling book 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	This January I'm coming to a city near you.
0:02.8	Tickets are now available for my Money for Couples live book tour.
0:07.0	If you love the podcast and you want to connect with hundreds of other people
0:10.9	who are trying to improve their relationship with money, I would love to see you there.
0:15.4	Go to IWT.com slash book tour and use the pre-sale code Rich Life to get your tickets now.
0:22.3	I can tell you nothing beats the energy of being in that room and seeing couples live on stage.
0:28.0	I'm coming to New York, L.A, Chicago, SF and more, so get your tickets at IWT.com
0:33.8	slash book tour and use the pre-sale code
0:36.4	Rich Life.
0:37.4	When I have money I want to do something with it right away.
0:40.3	It's very uncomfortable for it to just sit there.
0:43.0	I'm going to take a step back because if I know that number, that panic, it would really hurt me inside.
0:49.0	Today, meet Kate and Drew.
0:51.0	Kate is a 43-year-old mother of two and a homeschool teacher.
0:54.8	Her husband Drew is a 50 year old college professor.
0:57.8	This is so stressful for me.
0:59.8	My whole energy around money is stressful.
1:02.1	It feels like we're taking one step forward and two steps back.
1:05.7	Kate is a warrior.
1:06.9	She's terrified they haven't saved enough for retirement.
1:09.6	Drew is an avoider.
1:10.8	He's completely hands off with the money.
	...

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