00:00 Download the Conscious Spending Plan so you can use your money GUILT-FREE: iwt.com/csp-youtube Please remember: These are real people who had the courage to come on my podcast and ask for help. Would you be willing to come on this podcast and share every detail of your financial life? Feel free to leave comments based on what you think, but remember that we are here to help in a supportive way, not to demean and criticize.
Ramit, write a book Finance for Kids! Teach kids the right money stories and save them the trouble of relearning the right narrative later on in life. ❤
I have an 8-year-old and she's watched most of Ramit's Netflix series (minus a specific clip or two) -- kids can learn from his current content. The concept of cutting back on spending on certain things in order to have more money for the things we enjoy more is something even my young daughter grasps. She is already familiar with the meaning of a "rich life" even without a book specific to kids.
@@jrod6236 not necessarily. He’s heard enough from all these couples about their childhood money mindsets to at-least write a children’s book to ease childhood money traumas.
Ramit, I love when you provide a short bit of commentary after the couples provide their follow-ups, and I wish you’d start doing that again! I like seeing if we are on the same page about the follow-up’s, and if not, I think your perspective is always valuable. Thanks for another great episode, can’t wait to see you live in Boston!
I absolutely loved seeing you in the theater in Seattle Ramit. My husband had Covid and couldn’t come with me. My husband is a pilot so this is a great episode. You are right on so many levels and I love your show and books. My dad is from a country where he grew up and came to this country with nothing in the 60’s. I grew up with a scarcity mindset. My family was always high income but I still worry about the future. We’re all human. Thank you for sharing your wisdom ❤
Woooow her parents encouraged her to work hard, study hard, get an expensive tuition, all for them to prioritise a nicer larger house over her education.... That really stood out to me.
I know. I don’t think it’s emotionally fair for parents to promise something to their child and then take it back -not because of an emergency like an illness or a job loss, but because they WANTED another house. Just because of the emotional power parents have over kids, especially when they are still that young (she was what, 19?).
I thought this was a GREAT video! Thanks Ramit!! Very insightful of what a life looks like at a higher net worth…you don’t magically feel happy and better. It’s a mindset, not a number.
He is definitely programmed to think this way as the military literally drills this into you; however, it's not necessary to think about the extreme worst case scenario for your personal finances when you have this kind of money. He realizes this which is why he was also eager to come onto the show. It was so encouraging to hear him recognize that he wanted more quality time with his family and that in thinking about the possible, albeit improbable contingencies, he was sacrificing that exact quality time that he actually wanted.
Only a few minutes in. Am I the only one surprised at the lack of charitable giving for all of these high earners? For us, the higher our income the more we do in regards to charitable giving and being generous with gifts. It feels good to be kind and thoughtful.
It is remarkable to me how few of these high net worth couples donate to charity on a routine basis that would show up on a CSP or even be mentioned in a conversation.
I agree. The scarcity mindset is pretty strong on a lot of affluent couples, and if they don’t start exercising their giving muscle when they have little, it’s harder to give when they have lots.
I would venture to say that when it's all said and done, they will end up donating a significant amount of their net worth to charity. I would hope so, anyhow.
I never thought I'd say this, but it really seems like this couple/family is one that could greatly benefitting from something like hiring a travel agent to plan them one or two extravagant (within reason given their income level and wealth status) vacations per year. That way it's out of their hands and they don't have to bother planning it. Tell the travel agent all the types of things you enjoy doing together, the places you'd want to see, the type of food you like to eat, etc. and let them use their expertise to your advantage. I think it could go a long way in helping them enjoy their success.
I work in a clinic and I teach the people in recovery to stop doing that. it seems harmless but it feeds anxiety and waste so much time. also in financial terms there is an opportunity cost for all that indecisiveness and time spent analyzing while in paralysis
It’s a great game, all digital world built with it. If you ask yourself a question, make a plan of your actions to know what exactly you’ll need to do in that case. This is way better than hiding your head in a sand.
@ It creates anxiety too, if done too often. You write down the plan when your mind is clear / not in crisis. Then you do when it’s time to execute. It’s something they taught us as an Army Family dealing with multiple deployments. I had one for: If hubby is badly injured, KIA, retired, or put out. Since he’s retired, that plan was executed. Now we’ve started another one for the last retirement. The put out plan was jut updated for the current position. The other 2 are still sitting.
In a previous video you mentioned parents giving their kids their inheritance early and not waiting till they die. Could you do a video on having a conversation with your parents about it?
@Camie2023 I completely disagree and feel your reply comes from a potential trauma or a bad experience you've had. Also are you implying I don't know how to manage my money? Or that I have a bad relationship with my family? Seems rather judgemental. I'm asking how to have the conversation, the rest is up to me and my family.
I would find this interesting, but I highly doubt that this is a thing that Ramit could make to be reproducable. As this is a very nuanced and charged situation and inheritance should never be expected until its handed to you. Now a better conversation might be how to start talking to your parents about money, yours, theirs, what they want retirement or those final years to look like, etc. It would also be helpful to have a script to talk to the next generation. E.g. Im saving money for my kids' "early inheritance," and they shouldn't expect more than that but if I'm able to give them more when I die that would be wonderful. What's the best time/way to bring this up to set them up for success
Love seeing the different ranges of financial situations highlight some of the same marital problems… it’s not always about the amount of money so much as it’s about the psychology and communication around money. Thank you for interviewing all ranges to give insights Not many people focus on the middle to higher net worth people in these financial breakdown videos so there’s a gap you’re filling for us!
This type of scenario, which is common in the podcast, of rich people and that don’t know how or sorry to spend money… man, it’s just unfathomable. I’m older than both of them and I’ve never gone a moment in my life not worrying about finances and not living from paycheck to paycheck. I can’t even imagine the freedom and lack of stress from being able to do things like go to the doctor if you’re not feeling great. What a dream! And then to hear people say they are worried about money when they have 2 million dollars. Man, it’s exhausting.
I wish Chloe would spend some of her "no questions asked" money on a better Webcam. I kept wanting to clean my screen. Good video. Nice to see a military couple, even if it is an officer with a high earning wife (not typical).
He's an academy grad about to retire, and he's 38 so I'd assume he's a 16 year lieutenant colonel. Means he would make 10.5k base salary, and then tax-free housing allowance based on zip code.
I tell people that the Military can be a short cut to long lasting careers and financial freedom but a very dangerous short cut nonetheless. I did 20yrs, 5 tours to the war zone and everyday I thank God I’m still alive to raise my child. It’s not an easy career field.
21:50 As someone who's struggled to identify my rich life, I'm taking the wrong lessons from this couple. I will now be taking my excessive savings each year and investing it ... After taking a friend on a "treat yourself" day (trying to be generous as part of my rich life ) 😅😅
Ryan seems to think he has two lives - one in the military and the second post-military. I hope that, once he starts the second one, he realizes he has (and always had) only one.
Why, though? His audience learns a lot from this. Maybe you're not the intended target audience if you can't relate. I personally am a woman who makes 120k due to make about 145k by August. It's harder to manage larger amounts of money. If I get married we could be making minimum 250k. It's daunting to manage that, especially if there are bad habits and I think it is very helpful to see how it's done in other couples! Someone's content doesn't have to be for you if there is a happy audience out there which Ramit has
I like the diversity of couples. Before becoming a Ramit viewer, I really thought that a certain net worth/ salary would improve my money anxiety. But hearing that those who had what I dreamed of ... were still in my same mindset, it forced me to change my mentality with my little coins. And again, couples with normal net worth have been in the show, and should apply to the show. Like you, I also enjoy those episodes, because it's relatable. But I understand Ramit's brand, and the demographics of those who relate to his show. I don't know if it's helpful to just disapprove of the couple less than 10 minutes after upload.
ive listened to every ep. like 170 eps. plenty of people with regular income. def more wealthy folks but still lol. he also addressed your concerns at 3:30. respond to that if you are down for some belief revision
I haven't finished watching yet, but why has nothing been said about him being negative 22% on the csp, I am sure she is covering this but maybe that is why he is worried.
She seems kind of high maintenance. And she sounds entitled. She says she makes half the money so she can spend her money how she likes. However, if it was a single income family (husband making the money here) I’m sure she’d say it was “our” money.
Cases like this are just psychology. The family is fine financially though I find it ironic she is an actuary. There is a saying, there is math and than their are damn statistics. Her parents, just yikes!
He judge her parents when her parents was making advance investment moves. They wanted a better interest rate. Also your gown and getting married why is your parents still on your car. His mind set is a poverty mindset and mad when she doesn't see the world that way.
You go girl!!! I love that she has an abundance mindset and is responsible. Sad he seems to have a scarcity mindset and won’t dream bigger. Ryan you’re going to be pleasantly surprised how much more manageable life can be as retired military. Please take some time to work on your mental health first brother.
Appreciate you sharing your perspective, sir! 🫡 youre a few years ahead of me, i hope to be in this comfortable of a position for my family when i look to make the transition in 8 years or so. Best of luck on the other side and congratulations on a hell of a career.
00:00 Download the Conscious Spending Plan so you can use your money GUILT-FREE: iwt.com/csp-youtube
Please remember: These are real people who had the courage to come on my podcast and ask for help. Would you be willing to come on this podcast and share every detail of your financial life? Feel free to leave comments based on what you think, but remember that we are here to help in a supportive way, not to demean and criticize.
Ramit, write a book Finance for Kids! Teach kids the right money stories and save them the trouble of relearning the right narrative later on in life. ❤
That’s a great idea!
💯
I have an 8-year-old and she's watched most of Ramit's Netflix series (minus a specific clip or two) -- kids can learn from his current content.
The concept of cutting back on spending on certain things in order to have more money for the things we enjoy more is something even my young daughter grasps. She is already familiar with the meaning of a "rich life" even without a book specific to kids.
He would probably need to have kids first....LOL
@@jrod6236 not necessarily. He’s heard enough from all these couples about their childhood money mindsets to at-least write a children’s book to ease childhood money traumas.
Ramit, I love when you provide a short bit of commentary after the couples provide their follow-ups, and I wish you’d start doing that again! I like seeing if we are on the same page about the follow-up’s, and if not, I think your perspective is always valuable. Thanks for another great episode, can’t wait to see you live in Boston!
My goal in life is becoming a 2M couple and coming on here.
🤣😂
🤣🤣🤣
I absolutely loved seeing you in the theater in Seattle Ramit. My husband had Covid and couldn’t come with me. My husband is a pilot so this is a great episode. You are right on so many levels and I love your show and books. My dad is from a country where he grew up and came to this country with nothing in the 60’s. I grew up with a scarcity mindset. My family was always high income but I still worry about the future. We’re all human. Thank you for sharing your wisdom ❤
So glad to see other Seattle fans on here. Greetings from South King County!
Woooow her parents encouraged her to work hard, study hard, get an expensive tuition, all for them to prioritise a nicer larger house over her education.... That really stood out to me.
I know. I don’t think it’s emotionally fair for parents to promise something to their child and then take it back -not because of an emergency like an illness or a job loss, but because they WANTED another house.
Just because of the emotional power parents have over kids, especially when they are still that young (she was what, 19?).
I thought this was a GREAT video! Thanks Ramit!! Very insightful of what a life looks like at a higher net worth…you don’t magically feel happy and better. It’s a mindset, not a number.
Air Force pilots are expected to think in contingencies. He is just doing his job.
Problem is his family isn’t the military.
He is definitely programmed to think this way as the military literally drills this into you; however, it's not necessary to think about the extreme worst case scenario for your personal finances when you have this kind of money. He realizes this which is why he was also eager to come onto the show. It was so encouraging to hear him recognize that he wanted more quality time with his family and that in thinking about the possible, albeit improbable contingencies, he was sacrificing that exact quality time that he actually wanted.
You’re simply the best!!! I look forward to Tuesdays
Me too! 😊
Only a few minutes in. Am I the only one surprised at the lack of charitable giving for all of these high earners? For us, the higher our income the more we do in regards to charitable giving and being generous with gifts. It feels good to be kind and thoughtful.
You want a cookie?
Most people don't help others, even when they could. Sad but true
It is remarkable to me how few of these high net worth couples donate to charity on a routine basis that would show up on a CSP or even be mentioned in a conversation.
Why is that remarkable?
I agree. The scarcity mindset is pretty strong on a lot of affluent couples, and if they don’t start exercising their giving muscle when they have little, it’s harder to give when they have lots.
That’s why they’re rich.
You might see more of that over at Dave's.
But also how would you know if it's hidden in guilt-free spending?
I would venture to say that when it's all said and done, they will end up donating a significant amount of their net worth to charity. I would hope so, anyhow.
Missing from the hard work -> success conversation is an acknowledgement of the roles of luck and privilege
I never thought I'd say this, but it really seems like this couple/family is one that could greatly benefitting from something like hiring a travel agent to plan them one or two extravagant (within reason given their income level and wealth status) vacations per year. That way it's out of their hands and they don't have to bother planning it. Tell the travel agent all the types of things you enjoy doing together, the places you'd want to see, the type of food you like to eat, etc. and let them use their expertise to your advantage. I think it could go a long way in helping them enjoy their success.
$200 at Walmart is just groceries these days.
If he really wanted to know if the card had been stolen, he could ask, was that you at Walmart today?
He’s just being passive aggressive. Making a point.
@@jimgold2550 Does he ever buy groceries? It's hard to buy a full cart for less than $180 these days.
Sorry but I can't feel sorry for this couple
You and me both. She supposedly does math and cannot. And he struggles to have serious discussions it seems.
one month of their salary is more than I make in a year, and I have a master's degree! dayum.
Same here just crazy
Master's degree in which field?
Ain't no way you're earning less than 30k with a master's degree. What field did you master in?
You guys are a fantastic team. Ryan, I'm so glad you're here... Chloe, you're an amazing partner in this marriage ❤ Loved this episode!
These two remind me of me and my husband… minus the plane crash!
I feel like having a paid off house would be a big step forward for this couple.
“Deployed” oh shit Ramit with the major subliminal messaging punch to the face.
Listening to this couple is very inspiring!
Where do you find these people with 2million networth in their 30’s my goodness
The “What ifs” game … I hate it too. 😂😂😂
I work in a clinic and I teach the people in recovery to stop doing that. it seems harmless but it feeds anxiety and waste so much time. also in financial terms there is an opportunity cost for all that indecisiveness and time spent analyzing while in paralysis
It’s a great game, all digital world built with it. If you ask yourself a question, make a plan of your actions to know what exactly you’ll need to do in that case. This is way better than hiding your head in a sand.
@ It creates anxiety too, if done too often.
You write down the plan when your mind is clear / not in crisis.
Then you do when it’s time to execute.
It’s something they taught us as an Army Family dealing with multiple deployments.
I had one for: If hubby is badly injured, KIA, retired, or put out. Since he’s retired, that plan was executed.
Now we’ve started another one for the last retirement.
The put out plan was jut updated for the current position.
The other 2 are still sitting.
@@michellegreen1072 I do it all day long all my life for a living. Paid very well. 😂
In a previous video you mentioned parents giving their kids their inheritance early and not waiting till they die. Could you do a video on having a conversation with your parents about it?
You shouldn’t expect it. Early inheritance always come with a caveat. When they see how you spend it, it’ll ruin relationship either way.
@Camie2023 I completely disagree and feel your reply comes from a potential trauma or a bad experience you've had. Also are you implying I don't know how to manage my money? Or that I have a bad relationship with my family? Seems rather judgemental. I'm asking how to have the conversation, the rest is up to me and my family.
I would find this interesting, but I highly doubt that this is a thing that Ramit could make to be reproducable. As this is a very nuanced and charged situation and inheritance should never be expected until its handed to you. Now a better conversation might be how to start talking to your parents about money, yours, theirs, what they want retirement or those final years to look like, etc.
It would also be helpful to have a script to talk to the next generation. E.g. Im saving money for my kids' "early inheritance," and they shouldn't expect more than that but if I'm able to give them more when I die that would be wonderful. What's the best time/way to bring this up to set them up for success
It comes from parents not kids
This episode was really great. Regardless of the numbers - the money psychology challenges were very relatable for me!
Love seeing the different ranges of financial situations highlight some of the same marital problems… it’s not always about the amount of money so much as it’s about the psychology and communication around money. Thank you for interviewing all ranges to give insights
Not many people focus on the middle to higher net worth people in these financial breakdown videos so there’s a gap you’re filling for us!
This type of scenario, which is common in the podcast, of rich people and that don’t know how or sorry to spend money… man, it’s just unfathomable. I’m older than both of them and I’ve never gone a moment in my life not worrying about finances and not living from paycheck to paycheck. I can’t even imagine the freedom and lack of stress from being able to do things like go to the doctor if you’re not feeling great. What a dream! And then to hear people say they are worried about money when they have 2 million dollars. Man, it’s exhausting.
22:05 Life is about seasons and they are preparing for their next season. And we are a military family and did the same.
You discuss very nicely, always different discussions
This is an amazing video
Our situation is exactly the same we are from Australia
I wish I could join in with your Chanel
Woohoo! It’s Tuesday!
I wish Chloe would spend some of her "no questions asked" money on a better Webcam. I kept wanting to clean my screen.
Good video. Nice to see a military couple, even if it is an officer with a high earning wife (not typical).
:D
Lol!!! And the sound
Am I imagining this or am I hearing someone breathing into the mic the whole ep? 😂 no shade though, love this channel ❤
200K military salary? I went into the wrong business.
He's an academy grad about to retire, and he's 38 so I'd assume he's a 16 year lieutenant colonel. Means he would make 10.5k base salary, and then tax-free housing allowance based on zip code.
Being an airforce pilot is not an easy peasy thing, btw.
I tell people that the Military can be a short cut to long lasting careers and financial freedom but a very dangerous short cut nonetheless. I did 20yrs, 5 tours to the war zone and everyday I thank God I’m still alive to raise my child. It’s not an easy career field.
Excellent episode!
Great episode
Great couple. Really enjoyed this episode!
I can’t even imagine telling my kid I was no longer paying for college because I wanted to buy a fancier house.
21:50 As someone who's struggled to identify my rich life, I'm taking the wrong lessons from this couple. I will now be taking my excessive savings each year and investing it ... After taking a friend on a "treat yourself" day (trying to be generous as part of my rich life ) 😅😅
For her dreaming and him bring Debbie downer, when i found out their mortgage was $4,000 a month? Pretty nice house if that is your mortgage!
Please just put pt1 and pt 2 on videos - tired of trying to figure this out
Ryan seems to think he has two lives - one in the military and the second post-military. I hope that, once he starts the second one, he realizes he has (and always had) only one.
Wow we r 40 with paid home and 500k in investable assets and I thought we were good but Gz 30 with 1.7M … amazing …. Stop investing
Pls come to London!
I can barely hear her…. Audio quality was poor for the woman on the last episode as well.
I am getting a vibe from this couple. One that put us in an effed up position for the next 4 yrs.
😂😂
Nice, another 2M+ networth couple. Please review regular people's finance
Why, though? His audience learns a lot from this. Maybe you're not the intended target audience if you can't relate. I personally am a woman who makes 120k due to make about 145k by August. It's harder to manage larger amounts of money. If I get married we could be making minimum 250k. It's daunting to manage that, especially if there are bad habits and I think it is very helpful to see how it's done in other couples! Someone's content doesn't have to be for you if there is a happy audience out there which Ramit has
I like the diversity of couples. Before becoming a Ramit viewer, I really thought that a certain net worth/ salary would improve my money anxiety. But hearing that those who had what I dreamed of ... were still in my same mindset, it forced me to change my mentality with my little coins.
And again, couples with normal net worth have been in the show, and should apply to the show. Like you, I also enjoy those episodes, because it's relatable.
But I understand Ramit's brand, and the demographics of those who relate to his show. I don't know if it's helpful to just disapprove of the couple less than 10 minutes after upload.
Don't watch then. Go find someone more in line with what you want.
Booooooo
ive listened to every ep. like 170 eps. plenty of people with regular income. def more wealthy folks but still lol. he also addressed your concerns at 3:30. respond to that if you are down for some belief revision
Good content, but come on..a bit much on the sponsors. How come other channels don't have any and still are successful..
She has this “I’ll do it myself “ attitude…. Then why marry. Do it yourself.
Come to Scotland please 😊
I haven't finished watching yet, but why has nothing been said about him being negative 22% on the csp, I am sure she is covering this but maybe that is why he is worried.
He wants to pay all of the combined “needs” so he can be logical about the wants.
It’s mostly irrelevant. It’s just simply how they split the expenses to mostly be in his column. They make about the same.
I have to protect my peace and not watch a couple making nearly $400k cry and whine about being scared. My god. 🙄
She seems kind of high maintenance. And she sounds entitled. She says she makes half the money so she can spend her money how she likes. However, if it was a single income family (husband making the money here) I’m sure she’d say it was “our” money.
Cases like this are just psychology. The family is fine financially though I find it ironic she is an actuary. There is a saying, there is math and than their are damn statistics. Her parents, just yikes!
He judge her parents when her parents was making advance investment moves. They wanted a better interest rate. Also your gown and getting married why is your parents still on your car. His mind set is a poverty mindset and mad when she doesn't see the world that way.
combine income = 300k and still struggling????
Ramit is a financial guy for rich people. He doesn't see himself that way but the couples he chooses says it all
I guess there is plenty of content for people who are struggling...
All they need to do is change their attitude
You go girl!!! I love that she has an abundance mindset and is responsible. Sad he seems to have a scarcity mindset and won’t dream bigger. Ryan you’re going to be pleasantly surprised how much more manageable life can be as retired military. Please take some time to work on your mental health first brother.
Schröedingers Amazon Box.
Ramit i wish you would do a money for poor people tour! 😂
🇧🇷🇧🇷💚
This episodes are boring. They are very un-relatable.
The most relatable episode!
Rich people problems.😂
1st comment 😂❤
Appreciate you sharing your perspective, sir! 🫡 youre a few years ahead of me, i hope to be in this comfortable of a position for my family when i look to make the transition in 8 years or so. Best of luck on the other side and congratulations on a hell of a career.