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Money For Couples

206. “I quit my job to care for our son, but can we afford it?”

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.63.1K Ratings

🗓️ 29 April 2025

⏱️ 84 minutes

🧾️ Download transcript

Summary

Anna (33) and Will (37) are married with two kids, including a young son who was born with a serious heart condition. Between unexpected medical expenses, emotional stress, and inconsistent financial planning, their savings have steadily drained—and now, they're spending more than they earn just to keep up. Will brushes off concerns, saying “We’re fine,” while Anna feels like she’s the only one confronting reality. Now, they want to build a home and create long-term security for their family—but until they can get aligned, that dream may be out of reach. This episode is brought to you by: Aura Frames | Use promo code RAMIT to get $35 off the best-selling Carver Mat frames at https://auraframes.com Facet | For Money for Couples listeners who enroll with Facet, they will waive the $250 enrollment fee for new annual members and they’ll add $500 into your brokerage account when you invest and maintain $5000 in the first 90 days of membership for Core, Plus and Complete members (promo does not apply to Foundations members). Check out their membership options at https://facet.com/ramit Notion | Try Notion for free at https://notion.com/ramit and experience the powerful, easy-to-use Notion AI today. Shopify | Sign up for a $1 per month trial period at https://shopify.com/ramit ZocDoc | Download the ZocDoc app for FREE at https://zocdoc.com/ramit then find and book a top-rated doctor today. Links mentioned in this episode • Order my new book: Money for Couples Connect with Ramit • 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

He could end up in hurt failure on Friday, and we would need to move into the hospital.

0:04.0

That is our reality. It was too much, so we made the choice to have me stop working.

0:10.0

I've doubled my income, but I feel like we have way less money.

0:13.0

If I compare our network to other people with our similar backgrounds, we are behind.

0:20.0

It felt like we were just taking our foot off the gas a little bit,

0:23.7

but now it feels more like we shifted into neutral.

0:26.7

I worry about everything. He worries about everything.

0:28.4

We just don't align on what to do with that worry.

0:31.4

You are weaponizing the tropes of this podcast against me.

0:36.4

Can I pause things for a second?

0:37.7

I don't think the point of this podcast is to like win Rameeth over.

0:42.2

All right.

0:42.5

I'm looking at Anna and Will's CSP today.

0:44.9

They are 33 and 37 years old.

0:47.9

Assets, $654,000.

0:50.6

Investments, $366,000.

0:53.5

Savings $188,000. Debt $496,000, savings $188,000, debt $495,000 for a total net worth of $714,000.

1:01.7

All right, that looks amazing.

1:03.3

Gross monthly income is $15.5K for $186K, also very impressive.

1:09.5

At first I was like, why am I talking to this couple? But in their

1:13.3

application, Anna writes, our family dynamics have changed drastically since 2022. We were earning

1:20.6

$260,000 a year with one child. Then we bought a home and had our second child. He was born

...

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