Ramit Sethi - Automating Finances, Negotiating Prenups, and More | The Tim Ferriss Show

[@christopherarmstrong2710]

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.

[@Hardwork213]

thanks for the prenup timestamp

[@christopherarmstrong2710]

@@Hardwork213 You bet!

[@enrique-zarate4594]

Those are really Ramit's rules. You should create your own rules

[@christopherarmstrong2710]

@@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 ;)

[@dlongo11694]

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!

[@HinduBoy]

Congratz. U can go about being a financial goon for mucho longer 😑

[@ashwin.unlead]

who hurt you friend @@HinduBoy

[@Mimi-fe2gm]

@@ashwin.unlead😂

[@OlivierFAURAX]

50:43 "In life, you don't get what you deserve, you get what you negociate"

[@riffedwood5597]

-1 for spelling

[@HinduBoy]

-3000 for being a 🐑

[@rewardx]

nah its you get what you're worth it.

[@pablolainez3512]

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.

[@TheVistastube]

This is a random stranger on the internet checking in 9 months later- did the book help you?

[@chrisalmighty]

"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.

[@vicwithav]

1:00:42 - 1:46:45 all about PRE-NUPS. Skip ahead if you're not interested (or have no money to lose anyway)

[@marksoberay2318]

Thx

[@Azhark94]

Legend

[@awhiting415]

Tim: *says anything* Ramit: I love that

[@wjkrug]

Hundred percent

[@krisvanhouten1543]

I love that.

[@IamaNewCreature]

I love this comment.

[@franchardlelo2023]

I love that.

[@wellnessdaddy]

hahahaha!

[@lelandkwong]

Man, the stuff you guys talk about are so relatable and just pure gold. I'm not where you guys are at yet, but I appreciate the candor for sharing and just putting it all out there.

[@thedax22]

I'm happy for Tim at 2:13:35 when he says he learned how important it is to highlight what is going well. Coming from the ultimate "improver," that's a powerful realization.

[@nickfleming3719]

uh oh Tim Ferriss is only allowed to work another 1 hour 40 minutes this week

[@shubhamsharma5631]

4 hr work week😁

[@bbcapital7953]

cracked me up lmaooo

[@elunac2362]

😂

[@KingaGorski]

lol

[@daniellemayber6509]

Love the long-form interviews. Good to see Ramit back on the podcast.

[@utsavsharma89]

This is so valuable! I never thought I’d listen a 2.5 hour interview with so much engagement. Did order Ramit’s book and can’t wait to start reading and act up on it. Thank you guys

[@AcharyaChanakya108]

Great job dude! It's an awesome book!

[@drewm217]

I’m glad you’re using a live video format for your interviews now Tim. I like this so much better.

[@NoraDunn]

What a fab conversation! When I co-authored my first book, I wrote a guest post for Ramit's site a million years ago that got 100k views in the first 72 hours (which at the time was a big deal), thanks in part to Tim promoting the article. And I had read Tim's first book while developing my location independent career (except at the time that term wasn't yet coined - I was just a freak with a laptop traveling the world), and it shaped how I structured my online career and travel lifestyle. So it's great to see you both here, having candid and important conversations about things people don't generally like to talk about (like prenups). WOOT! Keep on keepin' on. :-)

[@DushyantJoshiNewZealand]

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)

[@whatphilosophersthink2462]

Towards the end, Ramit says that "everything that is important in life, should be on the calendar". Very simple, but interesting. Meaning literally everything from evaluative relationship-talks with spouses/going to the gym/calling your mother etc. Before that, Tim had already said: "If it's not on the calendar, it's not true".

[@shantanubapat6937]

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.

[@BenjaminJay]

Just bought his book. My first financial book I’ve bought in my twenties.

[@franchardlelo2023]

Congratulations!

[@Bluernote]

And what do you think about the book?

[@DeejayRach0]

Is it worth reading?

[@HinduBoy]

I think this means u have no idea what u doing... hop off books / "inspirational 🍆". Then u might become aware of ur gifts, talents, path.

[@villanmilo8265]

@@HinduBoy .

[@amerk69]

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

[@nickhankins5088]

Tim, thanks for talking about relationships. I think sharing the process of how to discuss ways to improve is super helpful to many.

[@Yohanapsg]

This is one of my fav Podcasts, you guys have good energy together! Great topics!

[@hillarysolomon3395]

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.

[@gemmaregalado]

My mother has also been known to walk out of a car negotiation deal over floor mats, so I feel a strong affinity with that.

[@Mipon_en]

This is one of the best videos I've ever watched in my life. Thanks Ramit for talking about prenups and Thanks Tim for asking tough questions.

[@GR_BackingTracks]

I've had this book in my bedroom for 3 weeks and have been listening to interviews on and off the whole time... Now maybe I will actually open it!

[@TimothyKim1202]

Tim - "Let's talk about convenience." Ramit - "hhommmggawd." lol I love how much he loves it.

[@jayfortherecord]

This is so good. I actually watched the whole thing

[@a_bit_of_hope_podcast]

one of the best episodes so far

[@everyday-co]

Best episode in a LONG time. Thanks, Tim and Ramit!

[@TheMonicagal]

**Best interview ever! Love you 2 together. Bring Ramit for chats more often!**

[@JoshuaPagan]

Incredible to listen to Tim on different stages of life. Here he’s not onboard on marriage, but on a more recent episode of Modern Wisdom he’s mentioned “wife-hunting” and starting a family soon. I’d love to know what lead to that change

[@tino9632]

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.

[@Nate1975]

Planning on upgrading on my road trips from very basic, camping to a more luxury places. Can’t wait! That means a lot to me and I love love love it

[@vaexperience]

Ramit has the best parent anecdotes

[@heather9165]

I love listening to, and learning from, smart people's conversations. We bought Ramit's book on Friday (audio version - as I learn best while listening while doing something else; ie cleaning or driving) and have already called our credit card company and asked for a limit increase (they doubled what we already had!). We are definitely going to dive further into what our cash-back card has to offer. Thanks for all of the solid advice!

[@SmilingassasinandD]

I really enjoy the way you speak about relationships. Do more! (not just romantic, also friendships, employees/employers etc)

[@oatscurry]

I've been a fan of Tim for eight years, and a fan of Ramit for about four months. This interview is off-the-charts good. These two should be in a reality show together about sales, negotiation, and survival-of-the-fittest. Better than GoT. Almost as good as Billions... a bit more practical though ;)

[@andreafournet5331]

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!

[@clownonabike]

Just a reminder that Ramit wrote this book about how to get rich when he was 26. I cannot find any information on anything he did before that. So yeah, he basically got rich telling people how to get rich. It's a common strategy. You'll be better off listening to people who have skin in the game instead.

[@jeromecrosby5723]

Yikes...

[@OP-ig1fj]

@@jeromecrosby5723 he had a blog bruh. Not everything is a scam

[@sofondadavis5028]

I get more out of his podcast on KZbin and the book is a resource.

[@lisasands1914]

Value and perspective on this stuff. Thanks Tim and Ramit for the see saw of exploration in the $$ world. Prenup was a education I found fascinating.

[@peterwatry5055]

Fantastic guest (my introduction) and great interview. Thank you!

[@DanielIles]

Ramit has been everywhere the last few weeks! Bigger pockets, Matt d’avella, and now Tim Ferris! New book incoming??

[@MrPenntrack]

New book is out! It's also fantastic even if you read the first one the differences and updates are well worth it.

[@DanielIles]

NDominator haven’t listened to the podcast yet, it is “Your Move” from 2017?

[@DownThePieRateHole]

I love this episode, and feel that if there was a theme, it would be 'value'. Which is relative and very self-aware. Thank you.

[@nayitorres5782]

Omg I followed his advice and called my bank and got my overdraft fee refunded immediately lol 😆

[@FaridaSultanaIchoosesuccess]

Wow, I have always done that. Almost works like clockwork. Hundreds of dollars to be precise. Never paid a penny in interest to Credit Card company - Get cash back all the time. Never paid NSF fees. But NSF seldom happens though

[@asadb1990]

i tried and the most they gave me was half. im in canada. i had to reach out to the duty manager. and she was like we don't usually do this at all. i was ah ok.

[@Zinat_Jouti]

Same here just did it

[@anabb8766]

DID YOU GET MEGA RICH ???? OR JUST GET TOLD SOMETHING YOU NEVER BOTHERED READING THE FINE PRINT

[@riffedwood5597]

Read his book

[@SamMegan]

Long time listener, first time watcher. Game changer! LOVED THIS

[@vools8621]

Hi from Australia! This interview is such a treat. New subscriber. Thanks :)

[@neeljoshi6088]

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.

[@KDFOXSCI]

It works if both people are a little bit process oriented. Otherwise I have to agree with you indeed

[@KDFOXSCI]

It would be easier though

[@Nate1975]

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

[@fiyamage]

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!

[@Zengawolf]

I appreciate the new windows that are square.... thanks Tim, you the man 👍

[@picturepappy]

Fantastic content and tons of laughs! I just got hip to Ramit and I am excited to dive deeper in his work. I feel the "mic-in-hand" look is rather off-putting and it seems to add a bit more of a tense feel...that is almost two and a half hours of your guests holding the microphone in their hand. That is not comfortable. Much love as always Tim, love your work!

[@RVC0902]

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.

[@polkmusic]

Great episode. Ramit's book is really good. Everyone should get it.

[@outtrigger]

My two favorite authors

[@psychiatrypsychotherapy6939]

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.

[@Jmansummers]

As someone who sells cars, this is so true and honestly horrible. The way some people treat you in this industry...

[@randomcharachter]

Yup, I don’t know why everyone here is behaving like it’s so admirable to treat people like this. Kind of gross.

[@kinshuksaxena7566]

This is gold right here Ramit and Tim; two of my favorite authors ever!

[@helenzooeyharris3569]

Always a fantastic listen. Tim Ferris & Ramit Sethi back at it. (HZH London)

[@foodtechsimplified]

the collab I've been waiting for

[@inveele]

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.

[@arizanty]

Enjoying every single minute of this interview. Amazing guys! Started to automate savings and investments for 3 months earlier, after the first time listening to Ramit. That's a lot after 11 years working with no savings and 0 financial management literacy. BTW, the mic is a bit off-putting but that's OK hahaha 😂

[@garysorensen3288]

Tim, you continue to teach, mentor and inspire me. Thank you. I now also have the Ramit resource. Excellent!

[@abhimanyusingh5471]

What a podcast. Absolutely amazing. Please keep it coming.

[@OlivierFAURAX]

2:16:38 "Everything that's important in life should be opt-out. It should be by default it's gonna happen."

[@sanitize808]

I took his advice and made a new savings account for me and wife so we can put money in it for our next vacation. Automate it! Thanks !

[@DigitalNomadOnFIRE]

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.

[@anthonymitchell9880]

Awesome episode, complements the updated version of his book well

[@didafm]

You are undermining the frugality lens you grew up with. You are at a huge advantage over most people who have no idea how money works

[@katrinamillings3651]

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.

[@researchmind4799]

*_If you want to eat food but you don't have time._* *_Tim ferris : Delegate or Automate it_* 😂😂😂

[@nikhil199029]

I m up for outsourcing. Chicken given preference.

[@lianangelis8250]

They are soulmates. that's what I learned from this interview.

[@roseblues]

Lol

[@USNMelDaria]

🤣

[@Jusdragon]

Strange I just found out about Ramit Sethi and subscribed to his email list lol. Happy there is a podcast about him!!!

[@CalebBrandalise]

alllways watching wazowski

[@iam_tenko1213]

I've been subscribed for 5 years, biggest mistake of my life

[@S__Kay]

I unsubscribed because I was getting a new email every other day

[@ruburtoe1]

@@iam_tenko1213 still subscribed?

[@iam_tenko1213]

@@ruburtoe1 Just checked i subbed in 2015 and they email;s stopped coming in 2017, it must of stopped automatically due to the data protection laws and i never gave my consent to continue with the emails, there fucking bs anyway, no one reads that shit and its just polluting your inbox.

[@DushyantJoshiNewZealand]

You both are legend! Thanks for this Tim. Best wishes from Melbourne :)

[@jake_runs_the_world]

legends*

[@josephkurosky3152]

Two Legends dropping Bombs.

[@gailgowen3170]

Just bought Remit's Audiobook on Audible 2-for-1 sale ;-)

[@OlivierFAURAX]

1:53:23 "Tools are byproducts of principles or strategies"

[@EliaCanu]

Tons of great value and cool insights, great talk. Thank you.

[@didafm]

These guys made it fairly young. Many guys don't get rich till their late 50s.

[@smileychess]

Good on that car dealer for not giving his dad free floor mats. I have worked various sales positions over the years, and nothing pleases me more than to say "no" to an Indian who wants free shit on a sale that's already losing us money. They're notorious for this behavior and it's very distasteful.

[@omarkaya42]

PaleBear Well, it's cultural, so, perhaps you don't like Indian food, either.

[@smileychess]

@@omarkaya42 Actually I really enjoy Indian food. And you're right, it IS cultural. Not sure if you thought I was saying all brown people are nasty hagglers. No it's a cultural problem for those Indians I happen to have been exposed to.

[@FunkaliciousFeline]

Within 12 minutes in, I bought the book. Thank you!!

[@Nate1975]

It’s just awareness about money. I also only spend more on what I love and enjoy doing that but cut on everything I don’t need

[@IsmailKamdar]

Loved this interview, and the book. Awesome stuff.

[@LaszloMag]

YES! I am so looking forward to this! Ramit, my man! One of few who had a huge impact on my financial life!

[@doubleespressoshot]

Same for me, was my very first personal finance book!

[@rickharold69]

Thx! Nice discussion ! Keep them coming.

[@analinagarcia]

This is SO good!

[@rusty256]

So so good, thank you both

[@Jack_all]

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.

[@erwinmoreno23]

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

[@oatscurry]

Clip on mics are kind of annoying, aren't they? People these days seem to intuit how to use their hands to hold mics near their faces.

[@PatrickMC]

@@erwinmoreno23 yeah but these mics sound terrible, this audio quality is atrocious.

[@juanmanuelvasquez5146]

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!

[@OperationAutoimmune]

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)

[@palana8870]

Thank you for posting Tim!

[@in4moon]

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 ....

[@clay_knapp]

agree, this guy dances around question - no content... god it was annoying to listen to

[@csyoung82]

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….

[@369jwillow]

In life, you don’t get what you deserve but what you negotiate.

[@alexpujoldartmouth]

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.

[@Julescruz]

This was a fantastic discussion!!

[@thereisa]

Great podcast. I love that it was an honest conversation, especially the section on pre-nups. There's so much fear-bias with pre-nups and Ramit did a great job reframing what the real purpose of a pre-nup is. Listened to all 2.5 hours of it. Thanks Tim and Ramit :)

[@ghadafihussein]

I can’t believe this content is free.

[@thedemotrader7570]

Thanks, that was great, really enjoyed your insights,,, take care guys

[@JoanneIonita]

Outstanding value!

[@jessicasanabria0908]

I really enjoyed this podcast episode. I listen to the show religiously. It's in my calendar! I do want to say though, Tim forgot to ask the billboard question. :(