Ramit Sethi

How to handle the stock market dropping

It’s actually a good thing that so many Trump supporters are losing their money in crypto scams. Republicans have been insulated from their poor decisions for too long. They vote against their own interests, only to be saved by Democrats (e.g., Obamacare). When you face real consequences, you learn

Why are egg prices so high under Trump?

Why isn't the war in Ukraine over under Trump?

Why is it so hard to afford housing under Trump?

Why do we have so much government waste under Trump?

Why do we have a geriatric president under Trump?

Startling how people make major financial decisions without ever running a single calculation

In my experience, 90%+ of people buying a house NEVER run basic calculations (buy vs. rent, amortization)

Same for buying a car & investing fees

Meanwhile, they agonize over coffee

ANNOUNCING MY NEW BOOK!

Money For Couples shows you how to build a Rich Life together. Use the word-for-word scripts to stop fighting and build a shared vision. Set your accounts up to make it all flow smoothly

Best of all, use money to bring you both closer together

iwt.com/moneyforcouples

Author shares finance tips for couples in 2025 Ramit Sethi, author of “Money for Couples,” shares tips for navigating money conversations with a partner as we enter the new year.

Money For Couples on Good Morning America!

www.goodmorningamerica.com/culture/vide...

Good Q. Depends on income and expenses, but the big thing to consider:

If maxing out your 401K achieves your investing goals (e.g., will you have enough for retirement?), then it can make sense to back off investing. In FIRE terms, this is "CoastFIRE"

In a marriage:

- Venmo'ing each other for expenses: No
- Each person having their own no-questions-asked account: Yes
- One person being the "Money Person": No
- Secret accounts: No
- Talking about money every month with an agenda that starts with a compliment: Yes

Here are the 4 Key Financial Numbers you should know

- Fixed Costs: 50-60% of net income (take-home)
- Investments: 5-10% (the more, the better)
- Savings: 5-10%
- Guilt-Free Spending: 20-35%

Within those ranges? GREAT! If not, make a change. No need to track the price of pickles

When couples fight about spending at Target or energy drinks at the gas station, it’s never about those expenses

It’s almost always about how much they spend on (1) housing, (2) cars, & (3) their values

But they don’t know they’re overspending, so they fight about $20 expenses

More from my simple financial system

- No private equity, no leverage. No need!
- Spend a lot of time building the skill of spending meaningfully and making money FUN
- Do this together with my wife

My simple financial system:
- Small # of credit cards
- Automatic investing into low-cost index funds
- Healthy margin of error
- Long time horizon
- Focus on $300,000 questions including increasing income

uh what

5. Know each other's Money Type: Avoider, Worrier, Optimizer, or Dreamer. Then act accordingly (see my new book, Money For Couples)

3. Have a monthly money meeting where you always start with a compliment. This helps you both stay on track

4. There is no "money person" in a relationship. You're both teammates and each of you should "own a number," meaning you're each in charge of at least one critical part of your finances

5 rules for money in your relationship

1. Ask: What's our Rich Life? How are we using our money to live it?

2. Set up accounts so your money goes into a joint account, but each of you gets a separate, no-questions-asked account that only you have access to

wut

I have talked to multiple people on my podcast who complained about the “unaffordable” economy — specifically, inflation at the grocery store — while they had a car payment of over $1,400/month

They did not see a connection

It can be done! Have a conversation where you recalibrate your relationship with money
- NO numbers
- No talking about debt or budgets
- Talk about how you feel, how you want to feel, and ask your partner how they feel

I cover this in my book, including what to do next

Sure, one partner might be more skilled/interested in a certain topic. That's OK! I'm more experienced with investing but my wife and I discuss our investment rate, returns, & we discuss what it means for us together

You can build a Rich Life vision together

That's why I wrote my new book

It would have been easy for me to be the "money guy" in my relationship, but I wanted us to BOTH do it together

1. If I get hit by a bus, the last thing I want is some Wells Fargo 1.25% shithead calling my grieving wife
2. It's good to have a 2nd set of eyes on major decisions
3. It's more FUN

In couples, one partner might take on the role of emptying the dishwasher. Another might take out the trash

Money isn't like that

Money cuts across everything so deeply -- housing, retirement, vacations, parenting -- that both partners have to be involved

There should never be a "money person" in a marriage. Both partners should be involved, with each person in charge of at least one aspect of the family finances

A very generous friend is donating 200 copies of my new book, Money For Couples, to an organization that could use them

If you're part of an organization like this, please email me the name of the org, description, and how you'd use them

ramit.sethi@iwillteachyoutoberich.com

How it feels to know I have a weekend free of lawn mowing, leaf raking, gutter cleaning, wall painting, lightbulb replacing, Home Depot chasing, backyard maintaining, and pool cleaning

Great point! Reminds me of how private jet flyers have a net worth 1,000x higher than those flying Southwest, which is why you should buy a private jet to become wealthy

YouTube video by I Will Teach You To Be Rich Why You Should Stop Listening to Get-Rich-Quick “Gurus”

This @ramitsethi.bsky.social clip where he calls out scammers moving to florida is making my LIFE
youtu.be/MvLinlXiI_A?...

"I'm not saying everyone who lives in Florida is a scammer, but a lotta scammers sure live in Florida!"

🤣🤣🤣

Perfect example of what I'm talking about

American culture applauds this, but I find it sad and pointless

There is no virtue in living a smaller life than you have to