60. “My health is in question, but I don’t want to stop making money” (Part 1)

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 13 September 2022

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today’s conversation will shock you—point blank. Tom and Julie are in their early fifties and have two school-aged kids. Both are savvy with their investments, and they’ve amassed a $12 million dollar net worth in the process. But Julie’s still working. She thinks of the income as an added layer of safety and security in their lives—but at their level of wealth, they’re making more in interest than her salary could ever bring in. Their situation may sound like it’s black and white—but wait for the jaw-dropping moment that changes everything. And look for next week’s episode, part two, as Tom and Julie start to reckon with their true reality. 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	I like to go out to eat, so I'll say, hey, Julie, should we go out to dinner and
0:06.0	she'll often reply, can we afford it?
0:09.0	But I'm joking.
0:11.0	But you're really not joking.
0:14.0	That's the part that kind of worries me.
0:18.0	And Julie, what is your net worth?
0:21.0	If you include our primary residence, it's in the ballpark of 12 million.
0:26.0	12 million dollars.
0:27.0	How would you describe yourself socioeconomically?
0:30.0	Upper middle class.
0:33.0	Take out the upper part and you're right.
0:39.0	Oh, boy.
0:41.0	Another couple worth over $10 million, who cannot admit that they are wealthy.
0:46.0	And in a rich life, as I always say, you have to be honest.
0:51.0	Honest with yourself, honest with the people around you.
0:53.0	If you cannot be honest with yourself that you are wealthy, it causes all kinds
0:58.0	of peculiar challenges.
1:00.0	Today, you're going to hear that from Tom and Julie.
1:03.0	They're in their early 50s.
1:04.0	They have two children.
1:06.0	And as you just heard, they have a net worth of about 12 million dollars.
1:11.0	Julie is wondering if she should quit her job to spend more time with her family.
	...

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