Ramit Sethi - I Will Teach You to be Rich
Financial Independence Podcast
The Mad Fientist
4.8 • 1.7K Ratings
🗓️ 14 May 2019
⏱️ 54 minutes
🧾️ Download transcript
Summary
Personal-finance icon Ramit Sethi from I Will Teach You to be Rich joins me for an episode of the Financial Independence Podcast!
Ramit first published his New York Times best-selling book, I Will Teach You to be Rich, back in 2009 during the depths of the financial crisis.
He just released the second version today so we discuss what’s changed in the last decade and also talk about FIRE (Financial Independence, Retire Early) – a concept that’s taken the financial world by storm in recent years.
This is the first time Ramit has talked about FIRE so it was great getting his opinions on it, especially since he’s often thought of as being on the opposite end of the financial spectrum (my first podcast guest, Mr. Money Mustache, has even jokingly referred to him as his “arch-rival in personal finance”).
Ramit didn’t hold back (does he ever?) so hope you enjoy this one as much as I did!
Highlights
- What Ramit likes about FIRE (and what he doesn’t)
- When you should pay more instead of less
- How to cure yourself from extreme frugality
- Why you need to maximize for value instead of cost
- How to break out of the spreadsheet and start living life
Transcript
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| 0:00.0 | I'm blind to you with her. Finance. |
| 0:05.0 | Hey what's up everybody. |
| 0:07.0 | Welcome to the Financial Independence Podcast, the podcast where I get inside the brains of some of the best and brightest in personal finance to find out how they achieved financial independence. |
| 0:15.0 | Today's guest is an absolute icon in the personal finance space. |
| 0:18.0 | It is Ramit sati from I will teach you to be rich.com |
| 0:22.0 | and I've read Ramit stuff for years. He's been around for over a decade. |
| 0:26.4 | He released a New York Times best selling book, I will teach you to be rich and he's now just released a brand new version of it which we're going to talk about today. |
| 0:34.6 | I'm also really looking forward to talking to him about the whole idea of financial independence |
| 0:38.5 | and early retirement because it's not really something that he's written about or talked |
| 0:42.0 | about a lot, but as I said before he's written about or talked about a lot but as I said |
| 0:43.7 | before he's one of the most popular personal finance bloggers there is so I'm |
| 0:47.8 | really interested to get his take on it and if he sees any problems with it or |
| 0:51.4 | if there's any reason he doesn't recommend it. |
| 0:54.0 | I'm also looking forward to trying to bridge the gap between him and Mr. Money Mustache because |
| 0:58.8 | I don't know if you are aware of this but Mr. Money Mustache in his early days used to call Rameet his arch rival |
| 1:04.8 | and personal finance and obviously he was saying it in jest because he did recommend his book |
| 1:09.6 | and things like that but I'm looking forward to exploring some of the differences between their advice and trying to find common ground with it because I actually think it is more similar than it is different. |
| 1:19.0 | So without further delay, Ramit, thank you so much for being here. I really appreciate it. |
| 1:23.0 | Oh, I am pumped, thanks for having me. |
| 1:25.0 | So first, big congrats on the new version of the book, which is out today. |
| 1:29.0 | I really can't believe it's been 10 years since you originally published it. |
| 1:32.0 | Me either. I mean 10 years ago I started |
... |
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