He’s a terrible partner and I hope she gets as far away from him as she possibly can this is why you never wanna have children with the wrong guy just cause you want kids which woman is gonna suffer and he enjoys her suffering and does nothing to fix it just calls her emotional, gross. Okie
I used to go to timeshare presentations with my ex. We got lots of free hotel stays and free gambling chips. Loved doing it. Almost bought once but I'm frugal/cheap and we resisted.
The details do matter, your results may vary. If buying a house is such a bad investment - why do so many people use residential real estate as a pathway to wealth? Again, the details of your personal financial situation do matter.
I’m going to say what her husband should he telling her, every single night, before going to bed: If you have a 90k/year business, that is causing 5k/month expenses, you do not have a 90k/year business honey. You have a 30k/year business. You are earning less than a minimum wage employee. Can you grow that business? Sure. Can it have a bright future? Yes. Does it help to lie to yourself and misrepresent where the business is? No.
As a Christian woman, it is disappointing that these believers think scripture states that we are rewarded for being righteous…that is not true. At all. Reading the book of Job alone would make that clear. I hope they realize the Lord’s favor is not something to be earned…if it worked that way, and we could “prove” we are good enough for grace…it would never happen.
Rx 2 to Prenup-refusing lady: I think Rameet brought up some valid points, but I think the discussion about prenups and clear deliniation of assets should have happened long before proposing to the women. - If you notice that the relationship is getting serious and likely headed towards the Alter, and if a Prenup is a redline for you - Then you should start discussing it (and potentially sign a preliminary one) prior to you ever proposing to her. - It would prevent the two of you from being at an impasse after she has already said Yes to you and it would keep her from claiming that she only agreed to it because she was put at risk of embarrassment, if she didn't sign one.
Rx to Prenup-refusing lady: Assuming the video is not just a skit, HE SHOULD NEVER MARRY HER. - She is making it clear that she wants absolute rights to all his assets (w/out him having any rights to her's), regardless of how and when he acquired them. - Her attitude about the prenup suggests that she is in the relationship partly or fully due to money. - If she ever relents and signs one, she could use this video as evidence that she was coerced and pressured into signing it against her will. Ultimately, that kind of an argument is not something you want to win and there are other women who will be willing to sign a reasonable prenup without causing such headaches.
Why doesn’t the wife just invest the kids’ monthly oversized “allowances” instead? 13:37 - Her mom taught her “to be very careful with” money. (Did she really learn?)
A lot of good attempts at complicated psychological analysis. And good insights on how she connects joy with shopping or how she was raised. But the truth is that she’s not particularly intelligent. At some level it’s not her fault. He chose to marry her.
Oh, my children will be able to blame me for getting a pre-nup...then again, I'll probably just create trusts for the inheritance they will ultimately receive when i leave the planet ( not with Musk).
This was a bit on a one sided analysis. There are many financial reasons to buy a home. Yes, in the beginning it’s much more difficult to own a home than renting. Acquiring a down payment takes discipline. There are some closing costs and your total payment might be higher than renting an equivalent place. Over time though, your property taxes will not keep pace with rental increases (your landlord sees the same property tax increase and passes those along) and eventually 3, 5, 7 years down the line owning will close the gap and eventually become cheaper. Eventually (playing the long game and looking at retirement) a paid off home will be MUCH cheaper than paying rent 30 years from now. Equity is real. I don’t know what he is talking about. 1st, you are earning a profit on leveraged money. You see 3-5% gain on the full amount (let’s say 300k property) when you only put 60k down. That’s a 9-15k profit on 60k. Also you are paying down your loan. At the end of 30 years you’ll pay 600k for a 300k home with the mortgage interest…..but your home will be worth more than 600k in 30 years wiping out all those payments. Also, all those increases in property value are tax free. You can take up to 500k in profit (if married) and pay no taxes. Also, you can do anything you want to your own home. You can renovate it the way you want, you can not renovate it.
In certain cities, you might be right. In other cities, it will never make financial sense to buy a house. You might not be aware of the cost dynamics in VHCOL and even HCOL cities, which is why I emphasize running the numbers.
@ramitsethi, what are your thoughts on Whole Life insurance? I was approached by a life insurance seller years ago and did not purchase one but my friends now are one by one buying them without making their research on what it is and they think it’s a smart investment they are making
I finally finished the episode. It was pretty good, I hope shes been home. Im new to the channel, unsure if you do quick 15 update videos, would be nice to see after a year on your guests
I don’t think I could stand the uncertainty of being with someone who didn’t know how much he made because he wasn’t keeping track. It’s one thing if he isn’t making much because he just started the business, but not even knowing how much he is making and where money is going? I would not file those papers until he had started saving for retirement.
you have a unibrow. can you find a few bucks to get a proper facial? also, look into a nise hair trimmer, and blackhead remover. appearance is very important on the way to excessive consumption
Tell this equity story to us owners living in the Phoenix AZ area where I purchased my house in 2015 for $127,000 , only repair I've done was out in a new AC for $5000 and today my house is worth $415,000. BTW my mortgage is at 3% , BTW my mortgage on my 3bedroom house is $800 per month. . Local rents in a 3 bedroom apartment are around $2100 per month, If you plan on living in a city in the same area for at least the next 10-20 years you are doing yourself a disservice by renting instead of buying and locking in that current monthly fixed amount. Your scenario sounds good today but 10 years from now when rents double the homeowner will be locked in at today's market price. Also the average person is only able to build wealth not by saving money but by the equity in there home. Advice from a 34 year old multi millionaire. But what do I know 😊
It depends if you can put a monetary value on peace of mind. Also, this dude is rich - if his landlord wants him gone, no worries, he just finds somewhere else, he can afford the deposit, pass the credit checks and it doesn't matter if the new rent is higher. If you are poor, being thrown out of a rental is catastrophic. Having the certainty of a long term fixed rate mortgage helped me sleep at night. now it's paid off and I don't have that ongoing expense each month for the rest of my life.
I don’t make a lot of money and I’m not incredibly smart, but I do have discipline and that helps so much with my finances. I only make 60k a year at 25 but I’m able to save/invest 30% of the money I bring in so that I can be set up in 20-30 years
You sold me. I was contemplating whether or not to buy your book and I purchased it on Audible before you were halfway finished with this video. Looking forward to learning more from you.
So you would be willing to buy my book? Noneed to I would be happy to to send. A guide to help with handling your money, Subjects covered include the importance of investing. The differences between investing and trading. How to handle money in various stages in life. Including, investing for retirement, marriage, and money written for Millennials and. Gen Z by a boomer. Where should I send?
You absolutely should have excess cash that you don't need to draw from instantly (like for a house down payment) in short term government debt, whether it's directly in T-Bills, or a T-Bill ETF, or a money market fund with distribution classed as treasury income. You don't pay state taxes on income from treasuries, and this is MASSIVE for high income tax states. Terrible advice from Ramit.
Pointless. If you calculate how much you'd save on even a million dollars in a HYSA vs. treasuries, it doesn't move the needle -- especially for someone who has that much cash sitting around. And if you don't need it for 5+ years (certainly 10+), it should be invested.
Hello Ramit, Thank you for everything since I follow your podcasts and your documentary on netflix where I discovered you. I have one question. Please, could think that it will be interesting for me to buy your book wince I live in France. I ask you that because I don't master the USA market. Thank you again
