Ramit Sethi's Recent LinkedIn Posts

Things I loved spending $$$ on: - Wedding - Healthy food prepared according to tastes/macros, portioned out - Travel - Taxes - Personal trainer - Talent at IWT Things I spent $$ on and didn't really care: - Car - Skin cream/massage - Random gadgets - Custom suit What are your examples?

Announcing my new MasterClass!

I always felt like I was absent the day they taught fitness. How did everybody else seem to know how to deadlift? I felt overwhelmed -- not even sure where to start. That's how a lot of people feel about money. Like it's a foreign language, something that others can understand but, for some reason, it feels so hard for us. But I know that you can build the skill of money AND you can feel good doing it. That's why I created a new MasterClass called Financial Wellness. I want to help millions of people build a healthy relationship with money. Yes, you can spend extravagantly on the things you love. And yes, you can feel good about money, even if you have debt. Thanks to the entire Masterclass team for a great experience creating this. The new Masterclass drops tomorrow.

Free buses is a bad liberal idea Follow me for more no-BS money and politics

It drives me insane when successful people don't admit that luck plays a HUGE role in their success

Thankful that I can pay a large tax bill. I highly recommend you feel the same way, too

You're married, 38 and 36 years old. You live in a 1-bedroom apartment and pay extra towards your debt. Finally, you pay it off You decide it's time to start a family So you buy a 2,900-sqft house and an SUV "for the baby" Suddenly, you're back in debt Meet today's couple (below)

This is how ultra-wealthy families talk about money! Some of these examples might seem weird, but I want you to see how ultra-wealthy families handle money because you can pick and choose and apply those same lessons to your family What do you notice?

If you've taken a sabbatical, I'd love to get your advice What unique decisions did you make during your sabbatical that made it meaningful? Looking back, what do you wish you'd done differently during your sabbatical? I would love to hear your specifics. Thank you in advance!

Why do entrepreneurs generally hate investing in the stock market? Over the years, I've talked to many of my entrepreneur friends about money. When we talked investments, I encouraged them to diversify and put some of their money in low-cost index funds. The majority said, "But I can make more in my business" Brutal reality: Very few businesses have big exits. Even fewer businesses last 50+ years. Investing some money in the market would be prudent risk management, so why do they avoid investing in the market? What's really going on here is IDENTITY: Successful entrepreneurs identify their wealth as coming from their business. To imagine taking money from their successful baby and feeding it into the S&P 500 -- which the general public has access to ("ew") -- feels like losing As they say, "Why would I make 10% when I make 5x and it's under my control?" But investing $10K/year, or $50K/year, or $500K/year in the market, is not losing. It's smart diversification and, as someone who's been investing for almost 30 years, I can tell you that money can turn into a substantial amount of money

My comments are filled with older people telling young people to "stop buying coffee" and "stop being stubborn about where you live & move to Arkansas to buy a house" I find it absurd and condescending. It's intellectually lazy to point at young people buying lattes while ignoring the very real STRUCTURAL reasons that young people are financially struggling: - Boomers bought a middle-class house on one salary. The value of the house didn't just go up because "house prices always go up" -- they systematically rigged local governments to make it *illegal* to build more housing in virtually every city in America - Healthcare has become incredibly expensive - Pensions are largely a thing of the past - America has become a gerontocracy where where this country actively lavishes rewards on an aging population while stripping young people of a financial future. Even now, there are discussions to stop property taxes and portable mortgages (both giveaways to older, wealthy homeowners that do nothing to solve a lack of housing supply). Our geriatric politicians are completely out of touch with the needs of young people, too This is not a post to demonize boomers or justify overspending. I believe in simultaneously taking personal responsibility AND acknowledging the need for systemic change. And older people vote. But I'm tired of these tired tropes of young people taking too many trips to Bali as a reason they're financially struggling

Financial red flags that don't seem like red flags but actually are - Making purchases above $10,000 "for the baby" - Anyone who uses the word "cashflow" - Anything involving home renovations for any reason whatsoever The reason these are red flags is what they suggest: 1. Very few people ever run the numbers on a new house or SUV -- but they are quick to justify them "for the baby" 2. They rarely understand that most home renovations are a luxury but they justify it by saying "it's an investment" (they also do not run the numbers) We tell ourselves stories about these things and use them to justify buying things we want...without knowing whether we can actually afford them, and often without questioning whether they're truly part of our Rich Lives If you love something and you can afford it -- great! Doesn't matter if anyone around you agrees, including me. I spend money in a way that would be bewildering to 99.999% of people. The more you turn the dial on your Rich Life, the more confusing it will be to others around you But for major purchases, we need to run the numbers FIRST, then consider the non-financial factors second -- not use simple, convenient stories to justify our purchases

Please come on my podcast

OUT OF STYLE: "I'll donate to the charity that gives 100% of my funding directly to the cause" IN STYLE: "Nonprofit employees should be paid well so they can do their job effectively"

I loved meeting you both!

In recent episodes of my podcast, Money For Couples, my guests: - Spent $55,000 on windows - Spent $80,000 more than they earned in a single year - Agreed to spend $55,000 per year for their children’s private schooling, but could only afford the first year - Hid $77,000 in credit card debt from his wife - Earned $200k per month while her boyfriend earned $2,000/monthEach of my guests shares real numbers from behind closed doors. You will not hear these stories anywhere else

Here’s the scenario: -You’re in your mid 40s, 3 kids -Income: $175K, Savings: $0 - ONE PAYCHECK AWAY FROM LOSING YOUR HOUSE -Bought a dream home, then lost your job -You borrowed $180k from family to keep your house What would you do?

Here's the scenario. - You're 47 and 57 years old - Income: $167,000 - Debt: $339,000 (you owe $125,000 on a $17,000 loan because you ignored it for 20 years) - Savings: $2,600 What would you do?

It’s time to break up with broke thinking. Ramit Sethi has revolutionized personal finance by creating systems that work with your psychology, not against it. Stop following broken money rules and start building wealth on your own terms. Our newest class, Financial Wellness is now streaming on #MasterClass: https://lnkd.in/gu2VQRpS

Here’s the scenario -Married couple, 30s, whose SAVINGS WOULD ONLY LAST THEM A WEEK -Income hit $18K/month, but only by working nonstop -$44K credit card debt - They spend 83% on Fixed Costs & can’t stop spending One bad month & their life could collapse. What would you do?

Here’s the scenario: - Married couple in late 60s, NOT ALIGNED ON RETIREMENT -He’s semi-retired, she’s works full-time -Net worth $800K+ but she doesn’t feel safe. She wants to travel, he’d wants a simple life Can they retire if they’re not on the same page? What would you do?

Here’s the scenario: * A couple is 36 & 41 years old, together for 7yrs (unmarried) * Combined income: $369K/yr * Debt: $78,000 in student loans (all hers) * Savings: His: $20,000. Hers: $4,400. * He owns the house. She doesn’t pay rent. Is it fair for her not to pay rent?

Here's the scenario: - You and your partner are 32 and 40 years old, 2 kids - Income: $155,000 - Debt: $768,181 (one of you hid ~$280K in tax debt) - Savings: $2,160 - Fixed costs: 168% - Cars: One of you just bought a new Tesla What would you do?