61. “I am going to die in 5 years. Should I quit my job?” (Part 2)

Money For Couples

Ramit Sethi

Relationships, Society & Culture, Investing, Business

4.6 • 3.1K Ratings

🗓️ 20 September 2022

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

In part two of Tom and Julie’s conversation, they start to see their reality for what it is—Julie may not have long to live, but she’s still working and is afraid to spend their millions on making memories with their young kids. After a double lung transplant in 2020, she’s healthy—but odds are not in her favor for a long retirement. Julie admits that, if she were counseling a friend, she’d tell them to leave the career behind and focus on experiences. But even that isn’t enough to spark action… and the clock is ticking. What would you do with millions of dollars in the bank and a short time to live? The answer seems obvious. To some, it isn’t so easy. 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 had a double lung transplant in October of 2020.
0:09.0	According to my calculations, I have about like a 67% chance of living five years post-transplant.
0:17.0	So another three and a half years roughly.
0:21.0	But I'm behaving like I was when I thought I might live to be 90.
0:28.0	And there's like virtually no chance of living to be 90.
0:31.0	At some point, we're going to be looking back and saying, why didn't we do?
0:35.0	This stuff we could do when we could do it, which is now.
0:40.0	There's no virtue in living a smaller life than you have to.
0:43.0	But yet it does feel sort of satisfying in some way.
0:47.0	I can't quite explain why.
0:52.0	If you knew that you had only a 67% chance of living the next five years, what would you do differently?
1:00.0	Welcome to part two of my conversation with Tom and Julie.
1:04.0	They're both around 50 years old and they have accumulated a $12 million net worth.
1:11.0	But Julie still works at her day job because she likes the income.
1:14.0	And they hesitate on spending money on things like travel and eating out.
1:19.0	The stakes are high for Tom and Julie because she knows the statistics of how long she will live after receiving a double lung transplant.
1:28.0	And we're talking about life or death here and we're talking about millions of dollars.
1:33.0	Julie herself has said that she wants to create experiences for their two young daughters.
1:39.0	So why are they finding it so hard to make changes?
1:44.0	As you listen to today's episode, please know that there are two follow-up letters from Tom and Julie, which you can get at iwt.com slash episode 61.
1:55.0	But first, let's get into today's episode.
1:58.0	I'm Ramit Saytee and this is I will teach you to be rich.
	...

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