Why Are You Investing? Defining Your Rich Life with Ramit Sethi

Money For the Rest of Us

J. David Stein

Investing, Investing Podcast, Business, Economics, Economy

4.5 • 1.4K Ratings

🗓️ 28 June 2023

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Camden and Bret sit down with Ramit Sethi, host of Netflix’s hit show, “How to Get Rich”, author of the New York Times bestseller, “I Will Teach You To Be Rich” and host of the popular “I Will Teach You To Be Rich” podcast. He is known for his unconventional insights on money psychology and his no-nonsense approach to designing and living a rich life.

Ramit’s financial philosophy is centered around several key principles, including the importance of automating your finances, using money psychology to prioritize your “money dials,” and focusing on $30,000 questions instead of $3 ones.

Topics covered include:

What it means to live outside the spreadsheet and have a rich life
The importance of learning how to spend, not just save and invest
Approaching investing when you don’t come from an investment background and what to do if you are feeling behind

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Show Notes

I Will Teach You to Be Rich

Related Episodes

278: You Have Permission to Spend

437: How to Live Like You Are Already Retired

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Transcript

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0:00.0	Walk in the money for the rest of us. This is a personal financial on money. How it
0:05.3	works, how to invest it, and how to live without worrying about it. I'm your host, David
0:10.7	Stein. Today is episode 438. It's titled, Why Are You Investing? Defining Your Rich Life
0:18.0	with Remete Safety. This week we have a special episode. It's a conversation that my
0:26.0	son's Camden and Brett held with Remete Safety. Some of the things they discussed, what does
0:31.6	it mean to live outside the spreadsheet and have a rich life? The importance of learning
0:36.9	how to spend, not just save and invest, approaching and investing when you don't come from an
0:42.2	investment background, and what to do if you are feeling behind.
0:47.1	Remete Safety is host of Netflix How to Get Rich, and I will teach you to be rich podcast.
0:53.3	He is the author of The New York Times Best Seller. I will teach you to be rich and
0:56.9	writes for over a million monthly subscribers on his website. I will teach you to be rich.com.
1:03.3	On the website and his other work, he covers psychology, personal finance, careers, and entrepreneurship.
1:09.8	We hope you enjoy this discussion between Camden, Brett, and Remete.
1:14.8	Alright, so jumping right in, our first question is how should people define their rich life
1:20.0	and why is it important to do so?
1:22.7	Well, for me, one of the biggest tragedies is people who spend their entire lives going
1:27.6	to work, diligently saving, investing, and when you start to ask them, what are you going
1:33.4	to do with this money? They have no real answer. In fact, the answer that most of us give
1:37.0	is a pre-rehearsed answer when I ask people this question I love to ask, what is your
1:41.1	rich life? Over 85% of people say the same thing. I want to do what I want, when I want.
1:47.0	I go, okay, not this again, but I go, wow, that's so interesting.
1:51.4	What do you want to do? And then they just stare at me. Think about that. Most of us have
	...

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