My wife bought the book about a year ago, we tried reading it, but didn’t read more than one page, didn’t know who the guy was, didn’t care. Now here I am, a year later, with serious financial challenges, and ironically this is the 6th interview I’ve watch with Ramit in the last week, these have opened my eyes like crazy. I just took the book from the shelf, and we start today. I was really missing out.
1:01:00 Negotiating prenups 1:40:30 Playbook rules for life: 1) If you ever see a book that you're remotely interested in, just buy it. 2) Have a year of cash available *liquid.* 3) Have sub-accounts for big expenses - wedding, engagement ring, honeymoon, house. 4) Order anything off of restaurant menu, and pick up the tab for the others dining in your party (once you're financially secure). 5) Have a couple of areas in your life where there's absolutely no budget - doesn't matter how much you spend, you just love it. 6) Eat (mostly) the same thing every single day - eliminates decision fatigue. 1:44:00 COO vs. the controller who approves the checks (Tim is happy to pay for entire date / outing, as long as the logistics are handled). 1:55:30 It is very possible and very common to procrastinate by searching for incrementally better and better tools.
@@enrique-zarate4594 These are my way of taking notes for myself. I don't condone or agree with the above statements - just sheerly marking parts that are interesting to me personally. Otherwise I feel I did not use my time as well as I could have on some of these long podcasts. I'm a big highlighter/notes in the margin guy when it comes to books too, btw ;)
"Did I just agree to that term that we've been negotiating for over a month? Yes I did. Like wow, my wife is that important to me?and I realised yes she is." - That is the most important point for those who still think marriage is worth a try.
Hi Tim and Ramit. Thank you both for this amazing episode! I think one of the best ways for a person to SHINE (revealing brilliance) is by having conversations with other like-minded brilliant people. Both of you have blown me away with your SHINE chemistry! Thank you again! John
The recommendation at the two hour mark to try the aspirational things we fantasize about our whole lives is key...both driving a Ferrari and owning a second home were on my list until trying/doing them...the Ferrari was uncomfortable and the second home was a lot more work than fun and ended up eroding rather than enhancing my quality of life. Expensive lessons that have forced me to redefine what "the good life" really means to me. I am definitely a big fan of the "try it" method going forward.
Easily one of my favorite episodes. The friendship/connection you guys have was very apparent, and I believe it allowed you guys to dive into some treacherous waters, (pre-nups, what you guys disagree about, etc.) which made it very compelling to watch.
Was listening to this at the gym, at min 52:31 I paused it before I finished my workout and left to visit my bank. walked in with all the confidence in what he said to do and got $100 in fees refunded. Thanks so much!
Not sure how many people became rich reading his book, but, he sure became rich selling a million book. Well done! People always buy anything that tells them how to become rich or lose weight easily.
Loved so many things about their discussion. These guys are both highly organized. They seem to love that. Loved how when money hits his account money goes in different directions. Also liked his advice on target date index funds. I would add do more small cap value index funds. I liked his input on prenups. Never thought about that when I got married, but could see why he was into it.
Good for you Tim for owning your own home...it is very anchoring and peace creating as long as you don't have huge overhead. Peace of mind is very important!! The rental market can get crazy and you are at the whim of your landlord!
1:00:41 - Prenups - Why is this not a requirement for every couple in every country, arranged or love relationship!? (Watch up until 1:39:51 - much needed conversation on this topic)
Have always loved Tim's advice and ways to tackle many life issues (especially in areas where he is clearly winning). When it comes to the relationship-related advice, approaches, etc., I think they both miss the boat here - way too mechanical and process-oriented. You'll probably learn more from speaking with couples who have made their marriage work for many decades. I wouldn't turn to Silicon Valley millionaires for sound judgement in this area.
Good point on pre-nup. No need to get defensive about it, it makes sense. It is very naive to think you can trust someone 100%, people change, things happen, life evolves, etc. One has to protect their security and future, nothing wrong with that
I'm curios why the production team doesn't use the clip on mics for audio, the full size microphones seem cumbersome and a bit distracting for a natural conversation style interview.
The quality is much better on dynamic microphones, even when the room is not prepared for recording. And people speak close to the mic when its on their hands unlike condenser microphones with stands. All in all its easier and requires little post production work
The moment I finished the 1st edition of "I will teach you to be rich" I immediately opened an online account and used dollar cost averaging. Thanks Ramit!
I like this plan to enjoy what you love. I've been very good the past year. I put all of my stimulus into VZ stock, so now I have around 3k and reinvesting dividends. I have around 2500 in emergency savings and 10% automatically goes in out of my paycheck. I've been waiting to give myself permission to dial it back just a bit and enjoy some of the small things in life. I've watched so many finance channels where they say never buy a latte. You could invest the money, but I don't have the personality to be so restrictive that I never buy anything I want. I'm disciplined to a certain extent, but I also want to enjoy life.
I love both Tim and Ramit!! They are some of the best people to follow for great advice on business, finances and life in general. Thanks for this amazing podcast!
The argument for marriage is human nature. Marriage reduces the temptation to end the relationship on a whim, because it introduces legal sunk costs. It is good for feeling stability, which human nature craves, especially the children involved.
Loved this podcast, so many takeaways I'm going to implement immediately. Only thing that I'd challenge is how the striving for 'convenience' is most commonly coupled with the increasing disposability of things and just general lack of sustainability. The world doesn't need more rich people buying useless shit and then throwing it away just because they can afford a new one. This applies to everything - clothes, food, gadgets, cars etc. Not saying that you guys do this but I think its extremely common and a massive issue (and even for less rich people as well in todays world)
this guy is so good at not answering questions directly and moving on to another topic instead .... why get married? ... "it's like hiring someone, but I approached it like .....". I'm not hating on the some useful stuff he had to say ... but Tim had important questions that were avoided ....
Those who can do, Those who can't teach This is totally true and he doesn't disprove this. The expression means they becomes teachers specifically - that's not to say doers can't ALSO teach. But they don't ONLY teach.
These two are automatons when it comes to relationships. Is there any room for spontaneity or romance? Their 'check-ins' with their partners are like something I'd have with an employee.
Funny, I once received a super nasty email from Ramit after writing to him, at his request, my opinion of a blast email he sent. I wrote that I found some of it sexist/ overly gender stereotyping. He literally wrote back that if I didn't like his material to fuck off. It was suprising/ offputting...and I certainly haven't follwed since. My take away was, Ramit's output is geared for traditional marriage lifestyles/ paternalistic cultural orientation.
A potential spouse who earns substantially less takes 6 months to reach a pre-nuptial agreement, plus costs me lawyer fees......that is a huge red flag. Probably don't know the whole story so I can't judge. The question Tim asks at 1:33 and Ramit's non-answer spoke volumes.
Easiest way to get a good deal buying a car is email the fleet managers at each of the dealers in your area and request a quote for the exact model and options you want. Then take the lowest bid. And, yes, it was better than Truecar the last time I did this. Just make sure to ask how many miles the car has. You don't want to buy one of their demonstrators.
What a great conversation! (How I wish I could get my Brother and sister in law to listen). I will see you on twitter, facebook, your blog (share Griffin's Bog, yes - Bog) etc. Most excellent - or as Neil P. would say - Awesome! Thank you both.
My friend please Come and bring your incredible knowledge to Brazilians! I will have the honor of shaking your hands! COME PRO BRAZIL !!! My name is Helder. I'm your number one fan 01.
Now I've got a question unrelated to the content, but Tim is that a steel tongue drum on your right? And if so, did you actually find it relaxing and unwinding to play?
I'll be honest this guy is an engineer mind set and I'd rather listen to old money about money, I mean packing sandwiches as a kid and having anxiety about that is trivial yet very real to him he also mentioned he used to assemble his own computer and looked down on people who spent money on things he didn't understand he's just getting it together
Tim, I just loved your best seller one of working 4 hrs a week ok. I ask you, is there any possibility of you generating new content with Portuguese subtitles or even launching very short motivational videos of 3 or 5 minutes dubbed for Brazilians? With caption and dub. I'm sure you can do it. We Brazilians await you with open arms my noble.
"What do you spend money on, but you don't really care ?" ... "Clothing.. " That's what I was thinking about first 10 minutes, why is Tim wearing this weird green shirt, that's prolly some stoic thing :D
Relationship check in 2:12 format 1. What I think I’m doing well. 2. What I think I can do better. 3. What I think you’re doing well. 4. What I would love to see more. Take notes, emotionally challenged people of the world….
I’ve never been so amazed at the complicated relationships you are in. I’m sure you had to schedule focking and then analyze if it was at the proper time.
Ramit should do stand up he is hilarious, the routines are endless, no Mikes in the house, Q1 wedding, prenups, what’s a miser, discount banking fees , marriage counselor and the guy is sharp on his feet.
