58. “If we want to retire, we’d have to live on $36k”

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 30 August 2022

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week’s conversation brings a slightly different perspective to the table. Michelle and Eric are in their fifties and are terrified that they’ve waited too long to invest for retirement. They’ve bickered about money for twenty-five years, narrowing their window of opportunity and adding a ton of personal baggage into the equation. Usually, part of the solution for most people is long-term investing. But with Michelle and Eric, time is not on their side. To complicate things, Michelle is defensive and triggered by even talking about money. She prefers to keep things focused on the math… but it’s much deeper than that. What would you do to overcome the very real hopelessness that many people of their age experience? Let’s see what happens. Connect with Ramit Website Instagram Twitter Facebook YouTube Linkedin 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	Hey, before we get back to the episode, I want to make sure you know about something that
0:03.6	I'm sending out this Saturday.
0:06.4	Have you ever wondered how to use your money to buy back your time?
0:09.9	This is something that people love to talk about, but very few people actually spend their
0:14.6	money to get their time back.
0:17.4	I want to show you 20 ways to buy your time back this Saturday from all areas of life
0:23.2	and all different income levels.
0:25.9	This Saturday, September 23rd, you can only get it at iwt.com slash podcast newsletter
0:32.3	that's 20 ways to buy back your time.
0:34.4	I'm going to show you this Saturday.
0:36.1	Now let's get back to the episode.
0:42.2	I don't feel safe and secure with my financial life.
0:46.5	We're both 50 and 52 years old.
0:49.6	I feel like we've kind of fucked up over the years.
0:53.0	It's the whole thing about money's triggering.
0:55.1	I was supposed to get married and have a husband who took care of me, who took care of my finances,
1:01.0	who invested for us.
1:04.4	I'm angry at him for not being responsible, for not taking care of me.
1:11.5	My parents helping me didn't really help me.
1:14.4	I wanted this, mommy gave me money.
1:18.6	So it was a pattern and why not?
1:21.7	Mommy gave me money.
	...

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