243: Ramit Sethi's Money Advice for Couples: Live a Rich Life, Together

BiggerPockets Money Podcast

BiggerPockets

Education, Investing, Business

4.5 • 3K Ratings

🗓️ 25 October 2021

⏱️ 96 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

If you’re part of the FI community, you’re probably a saver. Heck, if you’re listening to this podcast you’re probably a saver. While we all are busy optimizing our budget, reinvesting dividends, and contributing to our retirement accounts, do we ever take a step back and ask, “why are we saving so much?” Maybe you have a simplistic answer for this: your kids, your spouse, your “future”. When it comes time to finally reap the rewards of all that saving and investing, we struggle, and often fail to do so. Ramit Sethi, the author of I Will Teach You To Be Rich, has struggled with this in his personal life as well. When he got married, he and his wife spoke about what money meant to them, and they were shocked to have completely different answers. While Ramit loves setting up models and spreadsheets, he also encourages couples to speak about their finances through a shared vision. It isn’t “I’m saving this money so we can be happy”, it’s “WE are saving this money so we can take that camping trip we always dreamed of.” We touch on other topics like joint bank accounts, creating a “worry-free number”, and building a rich life together, as partners. Ramit also gives personal advice to Mindy to help her realize that she has already won the “money game”, even if it doesn’t feel like it at times. In This Episode We Cover Combining finances as a couple and creating a shared vision How much to keep in your personal and joint bank accounts Creating your “worry-free” number that allows you to live life without money stress The “money rules” that Ramit uses in his daily life Getting over your “savings rate obsession” and finding joy in spending Why spending can become painful for those who are on the road to financial independence And So Much More! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to the bigger pockets money podcast show number 243 where we talk to remeat safety about couples and their money
0:07.6	Your feelings are totally independent of how much money you have
0:11.6	That's why a lot of us know people who have money who feel bad about it or guilty
0:15.3	We also know people who don't really make that much money at all and they feel
0:19.6	free and fine
0:21.7	So what I want is of course I want people to save and invest and use IRAs and all kinds of tools
0:27.8	But I also want you to feel good about your money. I want you to live a rich life
0:33.1	Hello, hello. Hello. My name is Mindy Jensen and with me as always is my clear thinking cohosts
0:38.1	Scott Trent always appreciate your clairvoyant interest Mindy
0:42.3	Scott and I are here to make financial independent less scary less just for somebody else to introduce you to every money story
0:48.9	Because we truly believe that financial freedom is attainable for everyone no matter when or where you're starting
0:53.8	That's right whether you want to retire early and travel the world go on to make big-time investments and assets
0:58.1	Like real estate start your own business or figure out what a rich life means to you
1:02.5	We'll help you reach your financial goals and get money out of the way so you can launch yourself towards those dreams
1:07.0	As Scott alluded to today, we are speaking with Ramit Seity and he is all about living your rich life. I
1:27.8	Don't need to give you much more introduction than this because he has already joined us twice before before we bring in
1:33.1	Ramit let's hear a note from today's show sponsor. Okay, huge thanks to the sponsor of today's show
1:39.1	Today we are speaking with Ramit Seity the author of I will teach you to be rich
1:43.6	He has been a guest on our show previously on episodes 73 and 127
1:48.4	Both of which are totally amazing and you should listen to right now
1:52.4	Actually, you should go back and listen to them after you listen to this one after being on our show
1:57.0	Remedede said to himself I could do that so he has this old new podcast out as well before we get into the show
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.