322. Making Money in a Tough Economy - with Ramit Sethi
The Chris Harder Show
Chris Harder
4.9 • 1.5K Ratings
🗓️ 25 March 2020
⏱️ 44 minutes
🧾️ Download transcript
Summary
In This Episode You Will Learn About:
- Why Ramit is a different kind of financial coach
- Thinking about the big wins instead of the minutia
- Why most financial advice is around restriction instead of growth
- Why paying off credit card debt should come first
- Building up your savings and earning more
- Adapting to the situation
- How your business can survive this
Resources:
- Learn more: iwt.com/earn
- Instagram: @ramit
- Twitter: @ramit
Show Notes:
I'm sitting down with financial guru Ramit Sethi, the bestselling author and founder of I Will Teach You To Be Rich. When this book came out in 2009, everyone was going wild over it, and when it was re-released in 2019 with current information, people went wild all over again. And with good reason! This is a great book for teaching the fundamentals of living a rich life, not just financially but in every possible way. You're going to hear about how he is giving in this challenging economy, how you can pivot as a business, what to expect to come, how long this will last, and how you can create products and make money out of any expertise that you have.
Question Highlights:
- Why didn't the advice of most financial experts make sense to you?
- What's your message to the financial gurus that want people to cut back?
- Why do you restrict anyone with credit card debt from joining your programs?
- What is your definition of rich today?
- What is your take on what we are facing over the next 3 months as an economy?
- What should most solopreneurs and small business owners do right now?
- How do we pivot?
- What is Earnable and who is that platform for?
- What is your business doing to stay alive?
- Why is generosity so important to you?
Guest Bio:
Ramit Sethi, author of the New York Times bestseller I Will Teach You To Be Rich, has become a financial guru to millions of readers in their twenties, thirties, and forties. He started his website, iwillteachyoutoberich.com, as a Stanford undergraduate in 2004, and he now hosts over a million readers per month on his blog, newsletter, and social media. Sethi grew up in Sacramento, the son of Indian immigrant parents who taught him the art of negotiating—his father once spent five days negotiating with a car dealer, only to walk away over a set of floor mats. He wasn't the smartest kid in his class, but he loved building systems, which ultimately earned him over $200,000 in scholarships, which he used to get bachelor's and master's degrees in technology and psychology at Stanford. His understanding of human behavior and money led to him creating innovative solutions in self-development. Ramit and his team of dozens of employees build premium digital products about personal finance, entrepreneurship, psychology, careers, and personal development for top performers. The IWT community includes 1 million monthly readers, 400,000 newsletter subscribers, and 35,000 premium customers.He has written about personal finance for The Wall Street Journal and The New York Times, and been interviewed on dozens of media outlets including NPR, ABC News, and CNBC, and popular podcasts like The Tim Ferriss Podcast.
Follow me on social media @ChrisWHarder on Instagram and check out www.ForTheLoveOfMoney.com
Transcript
Click on a timestamp to play from that location
| 0:00.0 | In a time like this, you could think carefully not only about your expenses but about your earning. |
| 0:05.2 | Is your job coming back, is your industry coming back? How are you going to take control? |
| 0:09.2 | You get these five to ten things right? The rest of it is details, it's minutia. |
| 0:15.6 | Welcome everybody, this is for the love of money where we are making you unapologetic about your pursuit of success by sharing the tools, tips, and stories of those who have already made it. |
| 0:31.0 | My name is Chris Harder, and each week I will bring you incredible |
| 0:35.2 | guests in order to prove that when good people make good money they do great things. this episode because I am sitting down with Financial Guru Ramat Sati. |
| 0:55.1 | Now you guys probably already know who he is but if you don't he's the New York Times best-selling |
| 0:59.3 | author and founder of I will teach you to be rich. This book I remember when it came out in 2009 |
| 1:05.1 | everyone went wild over it and he just re-released it in 2019 and everyone's gone |
| 1:10.4 | wild over it again because it's a great book for teaching you the |
| 1:14.0 | fundamentals of a living a rich life not just financially but in many ways and one of the |
| 1:18.6 | things that I love about Ramit is we both share a common passion for giving. |
| 1:23.4 | And so in this episode you're going to hear several ways |
| 1:26.8 | on how he is giving as we face this current challenge |
| 1:29.6 | that all of us are newly facing |
| 1:31.6 | with the coronavirus and the coronavirus economy. |
| 1:34.6 | As a matter of fact, there's nobody better for me to sit down and talk to you right now |
| 1:37.8 | and for you to listen to right now than Ramat because this conversation is about how you can pivot and make money in this |
| 1:44.8 | challenging economy, what to expect with this challenging economy, how long it's |
| 1:49.6 | going to last, and how you can create products and make money out of any expertise that you have |
| 1:56.1 | so that your family can be financially free as we are all going through this pivot. |
| 2:02.2 | You're going to love his stories of giving. You're going to love his stories of giving, |
... |
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