Ramit Sethi: Never Split The Bill, It's A Red Flag & Renting Isn't Wasting Money!

[@TheDiaryOfACEO]

I’ve got a favour to ask! If you enjoy this, please double check that you’ve liked the video and subscribed to the channel! Thats a small way you can help us carry on doing this ❤️🙏🏾 really appreciate you!

[@Lord_Ian_of_Sussex]

Been subscribed for some time 😉

[@SP-fs5br]

Steven, you have a great podcast in general, but it’s getting seriously tiresome seeing you platform sexists all the time, do you really want to join the bandwagon of sexist men scrambling to cling on to power? I would have recommended your podcast to many people before but I wouldn’t anymore. Just some honest feedback. I still like listening to some but I’m having to be much more selective these days.

[@mrs.tammimoativation]

Appreciate the guest, commentary, and comments. All provide experiences concerning financial and mental wellness.

[@mrs.tammimoativation]

The rule of 72, I heard it before but need to research again & safety..boom!

[@ayoyinka3656]

Pls how do I set up the automatic saving he mentioned that will automatically invest for you in the UK cos all the one he mentioned is in the USA please. I need them company name I can sign up that will do that for me pls

[@ramitsethi]

Hey Steven, I had a lot of fun talking with you! Thanks for having me on again.

[@danieljames4050]

Ramit, your book changed my life. When I met my now wife, 10 years ago, the first money convo I had with her was regarding the unexpected cost of a wedding and how most people don’t save up appropriately. My wife listened to the advice I read in your book and we had our dream wedding last year thanks to putting away money for 9 year 💰 Thank you for keeping us out of debt, and please keep on doing what you do!!

[@heidi5452]

Hey Ramit! Just want to say you are amazing! You're changing lives everyday!

[@camcommute]

for a sec, I tut this was a scammer. you don't have ur account verified?

[@libragoddess333]

Thank you, your Netflix show and book helped us a lot!!!

[@AGold13]

Love you!

[@project_fabrice]

I'm 22 years old and the fact that I'm absorbing all these knowledge is a blessing.

[@francis_n]

I'm 43 and wish I had all this information at your age. Use it well brother!

[@scottwilly86]

You are in the best years of your life to invest. I wish I started at your age as well.

[@jimmye.787]

You’re not too far from 40 bro. Do your best to action on the knowledge you’re gaining in the Information Age.

[@ievajokubaityte364]

That's a very good time to start well done ;)

[@JenniferSW3]

Many of us are aware of money and investing when we leave school and hit the real world. You will be 40+ before you know it.

[@tatianazimina7266]

I’m amazed at the comments. The guy is not saying that renting is better than buying. He says that the decision between renting and buying has to be evaluated through numbers and personal preference. In a bunch of geographies renting is cheaper than buying and buying does not provide that good of a return. Also there are always risks that you will not be able to sell the property, that it will get depreciated etc. I live and work internationally and most of the time I have no idea what city or country I will be in a 6 months. Why the hell would I buy a property that I never see and pay someone else money to manage that? There as many situations in the world as there are people, the only thing one can do is to think for themselves. All in all, great conversation with an emphasis on critical thinking and making informed evidence based choices. Not enough people speak about investing in index funds too. Bravo!

[@k-man26]

i hear what you're saying and i totally agree. but people lack basic comprehension online. so I'm not surprised that people hear "do the math" as "renting is always better than buying" and get defensive because they made a different decision. buying a condo in Florida, for example, right now is dumb. buying a single family the midwest USA might make more sense. it just depends, but the onus is on you to do the math..

[@miller5170]

Devaluing of property is possible not likely but renting is a guaranteed loss of money each month. If you multiply 1500 to 2000 a month that’s 18k-24k loss a year. So you’re saying that if you sell your house after 5 years the devaluing is going to be as much or more than 18k-24k x5?? That’s saying if you live in a home 5 years and sell it it might devalue 120k? That’s extremely unlikely. Even the costs of Maintenances ac replacement and a roof wouldnt even come close to that. Even one year of rent is more than most home renovations. Even the upgrades will likely get you MORE money in a home. it is very unlikely the waste of renting will ever be less than devaluing of any property. If you sell during a low in the housing market that’s on you. But it will never be as high of a loss

[@tatianazimina7266]

@@miller5170 property can get destroyed due to climate reasons. Property can become a pure liability when it is not_possible to sell it due to its location and market conditions. Property is extremely expensive to manage if you don't live in the same country as the property. If you are paying a mortgage, you are paying interest, which can reach 40-50% depending on the country. If you lose your job while having a mortgage under your name, you must somehow find that money, while if you rent you can crash on someone's couch and only worry about figuring out your next move. And finally, you seem to be calculating in USD / EUR, while there are hundreds of other markets on this planet. They will all have different conditions.

[@CambieSweets]

You’re reading and witnessing in real time why a lot of people in the US have tons of consumer debt and never live a rich life. They lack basic comprehension skills and regurgitate what they’ve heard and don’t actually run any numbers.

[@k-man26]

@@miller5170 sounds like you are doing some math. thats great. that was Ramit's point. people dont do any math

[@TheDuke792]

Financial compatibility is just as important as emotional compatibility.

[@OwenFlex]

Absolutely! My partner and I aligned our financial goals before marriage, discussing spending habits, debt, and long-term aspirations.

[@GibsonJames-gr3on]

That's wise. I've seen friends' relationships suffer due to financial disagreements.

[@RoseBalerus]

How do you ensure financial compatibility? Regular budgeting sessions?

[@OwenFlex]

We prioritize open communication. Discussing investments and long-term plans helps.

[@ThomasColt]

That's cool! Investing is very crucial for securing our financial future and achieving long-term goals.

[@lazolalala1576]

Ramit's emotional intelligence is something I think people need to work towards, the ability to talk about tough things and going deeper into how and why we feel the way we do about money can be the difference between making it and reaching your goals and not.

[@steelsteez6118]

I cannot stress how much I love that you absolutely time stamp everything. It makes it so easy and convenient for some of us with busy lives to hone in on a couple core topics and then re-watch the entire video later when we have more time. Thank you thank you thank you 🙏

[@SD-os2ym]

⌚️⏰️⏱️ time stamps rock! Thank you!

[@prakharanand5760]

yeah!! cant thank this lil gester enough also i broke the 169, sorry. now yall gotta now take it to 269 idk XD

[@canoeshoe]

it takes a very detailed team to do this to produce high quality content. I, 1000%, agree.

[@nadja5154]

AI does that for the team

[@Janabroderick]

This was probably the best guest ever. It is clear that he has a lots of emotional intelligence when it comes to raising children to be financially smart. I learnt a lot.

[@SherriFlemming]

Yes. Children require good money management skills.

[@Kevintendo]

Ramit is AMAZING!!!

[@LillianEmerald]

My brother and I are perfect examples of the difference in people, we didn't have much growing up, so I took it as needing to count my pennies, only bought cheap food and worried relentlessly about money. He on the other hand, has built himself a very financially secure life, bought his first property at 21. I now pick his brain on everything finance related, tying to learn how to emulate his actions and beliefs around money, rather than the lessons I was taught. Don't be like me, be like my brother

[@AshraNashal52]

@@Bertuzz84 That argument has everything to do with her not investing and next to nothing to do with rent vs mortgage. If you both made a similar amount of money, she’d have come out ahead of you in most situations.

[@allyc9606]

Same!!!!!

[@sarahfranco6802]

What did he do differently than you

[@MoonOvIce]

How do you even buy a property at 21? started working at 12 and saved everything while still living with your parents?

[@AshraNashal52]

@@MoonOvIce Luck and timing. As he said, it was $8000 after a foreclosure during a financial crisis. Without A) a financial crisis, B) the foreclosure that sat for months then he would have not been able to get it. The $8,000 is lucky because even back then that was _super_ cheap. The odds of a 21-year-old doing that today with their money… 0%. Wait for a financial crisis then stalk foreclosure pages like a predator and you’ll get your chance too.

[@kels44]

I have to say, I think this might be the most impactful episode for me personally, to date. I'm in the process of sorting out my debt (my wife and I), and this has put the finger on some of the issues we have, quite convicting and convincingly, and has encouraged me in a manner that is causing me to rethink my relationship with money and my approach to it. also, i have just LOVED how real this conversation has tackled the issue of COUPLES being open and transparent and willing to COMMUNICATE about this subject TOGETHER. I needed this. for real (also this is the longest comment i've ever posted on youtube). THANK YOU BOTH!!

[@jonkuderer]

I'm thankful growing up my parents never said "We can't afford that". They always said "We don't need that." or asked me "Why do we need that?". Helped me distinguish wants and needs.

[@SofoArchon]

Some of the best things in life are free: a deep breath of fresh air, a stroll in nature, a conversation with a friend, a look into the eyes of a loved one. Cherish them before someone puts a price tag on them too.

[@kristopherleslie8343]

Unfortunately all those things have a cost, it’s just nice to think it doesn’t.

[@LetoDK]

Or a Dr. K. favorite: finally having a pee after having to hold it in for way too long.

[@LetoDK]

​@@kristopherleslie8343You know what they mean.

[@Jay-xr3sb]

@@SofoArchon there's a price to starting a family and maintaining your chosen lifestyle already. We can't except everything for nothing

[@Shakor77]

Getting friends and loved one's is not free. There are millions like me, without friends and loved one's. If we could freely get that, don't you think we would? If you believe that, those things are free, you are a naive fool.

[@KEETCHA2]

I ended up with a financial loss with my home that I bought and lived in it for 25 years. I tried to sell it a few times, but was unable to find a buyer. During this time I wanted to move a number of times as I did not like the community I lived in. Renting would have been a better situation as I could have packed up and left any time. Renting gives you a freedom to choose where you want to live and work. I finally did move, but being now a much older person it is harder to find new work and build new relationships.

[@anniearmitage3633]

The biggest problem with renting is not being in control of your residential destiny. I have lived in three different houses in the last 41 years, each of them we chose when and were to buy and sell. My cousin rents and has been given notice four times in the last fourteen years because the owners have decided to sell up or move back in the house themselves. Moving that regularly is expensive, stressful and unsettling, especially for children having to move schools and leave friends behind.

[@BonBon-nm3js]

Ditto

[@GameFuMaster]

Renting depends on your stage of life then, and is also something that you should factor in when deciding furniture. Like, a good job opportunity might turn up in a different city. So you can either give up a good opportunity, or stay and hope another good one is near you, not to mention being able to move close to work to save on commutes. IMO, you should definitely rent in your early stage in life to work out what sort of housing/architecture suits you and just generally experience different things.

[@Valhalla.Studio]

Very true, as someone who still renting that's the main issue I face as well, it doesn't feel as secure knowing the lease is coming up to renewal date and you just have to hope that you able to renew it and not getting kicked out.

[@EtherealSunset]

4 times isn't bad. By the time my child was 2, we'd lived in 5 different rental properties. The first move was when he was just a couple of months old and the landlord wanted to increase the rent by a huge amount, which I couldn't afford (to be honest, as much as it was a pain to move with a baby, there was no proper heating, only a portable oil filled radiator, that only took the edge off and as it was rental, I couldn't get proper heating, so not having to deal with cold and mould anymore was a blessing), the next place the landlord inherited from their aunt and after 6 months, they decided they didn't want to let it out anymore and wanted to sell it. Moving twice with a baby under 1 was definitely not something I would have planned and the rents were very high, for poor quality housing (proper heating should be a bare minimum in a damp country). Had I been paying a mortgage off, I'd have had nearly half the rent amount spare a month after mortgage repayments, so I could have either paid extra into the mortgage, or saved some for a safety net. Instead, with high rent, and having to move a lot, anything I saved up, went on deposits, first month's rent up front, moving costs etc. People I know who own, have not had to move around a lot. They've moved if and when they want. Every time, even after fees, they've made money from the sale, not wiped their savings just to move against their wishes. The people I know who own, either bought a long time ago, or lived at home with parents for a long time, saving up. Saving when renting isn't really a thing most can afford due to the high costs. Every time I had to move, I had to move further and further away from work, to be able to find a property to rent in my budget, as what had been the going rate 6 months ago had gone up. That added to my travel costs and commute increasing, it cost more and more just with daily expenses.

[@AbeJacoby]

Renting is profitable IF YOU HAVE RENTAL PROPERTIES IN ADDITION TO OWNING YOUR OWN HOME. Foolish people like you make investors very wealthy . How dumb can you broke azz get!!!

[@Buincity2023]

25 years…. And with my husband we have live by 70% of what Ramit is teaching… ready to implement new things!!!! Love it.

[@hsirynx]

At the beginning of our marriage, my husband was very excitant to talk about money. I pushed a lot for it. We created a joined bank account, absolutely all our money goes there. We have a budget for each category. We have a personal bank account each and we receive the same amount each month, regardless of who brings more money to the house. This is now our family money. We now sit down every Sunday after breakfast to review or weekly finances and write down on an excel file each expense. 25 cent for an onion? Written down. 50 for electricity? Written down. We then discuss what’s comming next, align on financial goals, discuss about investments or purchases, etc. it works perfectly well for us.

[@7kutty7pisasu7]

I hope to one day be like you guys, I would like to adopt you as my couple goals 😆

[@suzanneemerson2625]

Too tedious for us. We don’t need that much granular detail, like the cost of every item in the grocery bag. Doing this every single Sunday of your life seems excessive. We use something similar to Ramit’s conscious spending plan, and look at our finances quarterly now. Been doing this for 20 years. We are living our rich life and no longer need to work. But, if this works for you, that’s great!

[@1happyfriend]

Warren Buffett even agrees that buying a house isn’t a great investment but it’s more of an emotional connection to the asset. So this guy is spot on.

[@hansreitz3881]

Money is the number 1 stressor in my life. This is a very refreshing conversation and opens my mind to step beyond the fear. This is the first video I have seen that takes my fear out of the discussions. Thank you for sharing this conversation with us.

[@anionoh9206]

There’s real value in this conversation. Thank you. A lot of people will never hear anything close to this and it’s unfortunate. We need to make sure we spread the message so more people can develop a healthy relationship with money.

[@moonszter]

Steven, starting watching your videos has had a huge impact on my lifestyle and mentality towards myself with the guests you bring, but I’m just realizing the BIGGEST change in me is that I’ve become a better listener and know how to ask better questions in different settings with different people, and I didn’t learn that from your guests I learned that from YOU! Thank you for what you do, I love watching your channel grow as time goes on. 🙏

[@susanquinlan7426]

My brother never bought a house. He invested wisely and made out so much better. He took a lot of flack and I so wish I did the same.

[@OneAndOnlyMe]

But he had the higher income to be able to afford to invest (after paying the essentials) and then use the passive income to pay his rent.

[@marwin5393]

Nope​@@OneAndOnlyMe

[@holdencawffle626]

Im doing the same. I'm killing it financially. I have zero interest in buying a house. Ever

[@kerrierohr9341]

What I heard (versus what it seems others heard) was, run the numbers and see if it makes sense financially to buy a house or continue to rent.

[@k-man26]

lmao exactly

[@joshhelcel9724]

Agreed. Also, renting carried the caveat of investing the monthly difference vs. buying.

[@Court62]

Ikr! For me, as a Veteran, buying was better - 0 down. The numbers showed that with renting, I'd be putting 1K+ more into the owner's pockets and wouldn't be able to deduct above standard. Ppl are hella triggered! 😅

[@Jello2]

People hear one thing that goes against their beliefs and tune out anything else that was said 😂

[@KarenPritsch]

We should run the numbers on everything. It's all relative to the value you put on it!

[@alexandracabral2034]

Regardless of your relationship with money, I believe this topic should be discussed and taught as part of the school curriculum.

[@ForeignFlexTv]

True. However it’s a different topic for Men & women. Is it fair to say a Man’s money is for him and her. And her money is for herself

[@paulinejackson5861]

As a person with investments in consumer industries...I hope it is not taught. Keeping people in debt is profitable for us.

[@VoiceOfThe]

Think bout what you have said for a moment... It’s all by design. They don’t want you to know. That’s the point. There’s very good reason you’re not taught this in school / education system, if they did, everyone would be retired millionaires before 50 and not paying into the system. The powers that be rely on keeping you dumb and ignorant. It’s all a trap.

[@shaniat.4085]

As someone who learned financial literacy in high school, I find it’s like se* ed. Very touch and go with how well it’s taught and is basically useless if it’s not properly reinforced at home. Not to say we shouldn’t do it (bc something was def better than nothing in my case), it’s just better served if we changed the culture around money and discussing finances and that starts in our homes.

[@talos1279]

There are few people who talk about the first half content of the video. A lot of comment just jump to the discussion about mortgage and rent without noticing how great Ramit Sethi's view on money in the first half of the video is.

[@fs5775]

He said literally *nothing* original. He just re-packaged what so many others have already said over the years.

[@talos1279]

@@fs5775 It's still the first time I have heard it when putting it in the context with interpersonal relationship. It's nothing original but I think it's helpful for people who have only listened to this first time.

[@CamFamX2]

​@@fs5775bro thinks only original content should be allowed on the internet

[@keikofay9804]

Agreed. Reactionary vs. responsive.

[@Intentionaltia]

This!

[@najma53]

This guy is so smart and so well spoken I’m mesmerised by his communication style!

[@llyrghmnghyll]

After 17 years, I think I'm comfortable saying I don't like being a homeowner

[@Pk-wu9tl]

How come?

[@kobekwarteng]

Totally agree with Ramit… often times we want to have one big conversation about money and we make it ‘big ticket item’ causing a lot of anxiety leading up to it, it’s rather an ongoing conversation that will happen and must happen over time naturally like every other subject of interest for any relationship.

[@x2oChannel]

I’ve been married for 30 years, and despite the inevitable differences that arise in any long-term relationship, my love for my partner has only deepened over time. From the start, she has earned a higher salary than I have, but this has never been a point of contention for us. We’ve always maintained open and honest communication about our finances, ensuring that our budget, expenses, and long-term goals are aligned. Our shared ambition has been a cornerstone of our partnership, keeping us united as we pursue the same vision for our future. For younger couples, I think it’s crucial to have these discussions early on. Financial compatibility can have a profound impact on the relationship down the road, so it’s important to gauge how well you align in these areas before potential issues arise.

[@enrique-zarate4594]

Yes! The earlier we talk about money constructively, the earlier we can set goals and reach our potential

[@GenChanger]

You are the rare man. Well done and keep it up!

[@-Timur1214]

This is suprisingly interesting, not just about basic money illiteracy (which is still super important for people who don't know much about it to learn), but about the psychological effects to us and how it affect our life in a different way

[@karlineschlenkerbein131]

I was on this "renting is better than buying" trip for many years, but now, that I live in my own house, it gives me much more freedom to decide. I choose the provider for energy and gas, I decide to install solar panels or a wallbox for my electric car, I choose the insurance company or decide if I insulate my roof or buy new windows. This gives me a lot of power over my utility costs on the long run. You should never estimate the stupidity and greed of a landlord.

[@the1337fleet]

I prefer the simplicity of renting I accidentally broke my blinds the other day. Maintenance came and fixed it the same day. We're having resident appreciation week with 7 days of activities this week. I don't have to worry about a huge down payment, interest, property taxes, finding and paying a realtor agent, etc. I don't have to worry about a natural disaster demolishing my biggest asset. To me, this is peace of mind. I have plenty control other than not being able to install a solar panel.

[@TJrules299]

Not everyone lives in a place where they can choose the provider of energy and gas. I’ve lived in 3 states in the US and never had that ability because you have to opt into certain providers because they own that area. It’s compulsory, not a choice. Being able to buy solar panels means you had the resources to do so. Not everyone does.

[@dvaunt3516]

Its not stupidity or greed. If you rented out 6 properties, and they had to pay utilities (electric heat and AC) you could pay 40k for each property to gut, insulate, sheetrock and paint, but that takes money out of YOUR pocket ( and the tenants reaps the benefit of the lower bills, not you) That home improvement is unlikely to increase the value of the value of the home the way an extention or a dormer would, so it takes money out of your pocket and puts it into your tenant's pocket. You do get to prance around and pat yourself on the back asbout what a good lil ecowarrior you are, and that's about it. But you're out 240k. Letting a tenant deal with that makes it their problem, not yours. Thats a wise choice, its not greed or stupidity.

[@mattparke4370]

Dvaunt, thats why you only rent to good people then you can lower the rent and be at ease morally. You’re helping yourself and them so they can move on and become independent too.

[@dvaunt3516]

Be at ease morally? You understand morals, outside of the law, are subjective, right? I don't subscribe to any kind of ideal that includes me giving a damn about whether another person whom I don't know, considers me having moral character or not. 500 years ago you were considered health conscious if you went and had leeches intentionally applied to your body. 400 years ago, if you wanted your neighbor's land you could accuse them of witchcraft then pick it up for cheap at auction and the community would not only consider you pious, but a vanguard of the faith. Can you imagine if I were so mentally weak that I were somehow trapped by the thoughts in my own head about whether some stranger thought I was moral? I mean I can understand if its one of the 20 people in my existence that I care about. But some random toade on the internet? Its like asking me to take time to consider a single gnat in the backyard of someone 6 states over. I've rented to people for over two decades. The "good people" you're talking about renting to, who pass every financial/backgound check, may just stop paying you in two years. That great couple you rented to where they both work? 6 months in one of them gets busted cheating, they split up, and the one remaining cant afford the rent on their own, so do you think they will do the "moral thing" and move out of house they can no longer afford? No they just stop paying you entirely, and stop contacting you. Then you have to pay your attorney to start the LONG process of evicting them, which always goes way longer than their 2 months security deposit. I mean, Im probably wasting my time here because you sound like a person who thinks ANY action my a landlord (including expecting the rent on time) is a criminal act, and the "morals" you appeal to, only work in one direction.

[@ntimn8r]

Yes!!! Ramit is my favorite guest! He has changed my life in more ways than I can count.

[@juanortiz4331]

13:35 I bought a house I couldn’t afford, but I locked in a 2.5 interest rate, and it was the best financial decision I’ve ever made.

[@mikelangeloff]

Say what?

[@cclark2021]

​@@mikelangeloffI refinanced and have a 2.35apr interest rate.

[@pilsung26]

That is true for many but not necessarily for most, and definitely not for all. I personally think it can be great forced savings system for some. Doesn’t work for me, but it doesn’t have to.

[@BraIIIn86]

Same! I rent out the basement and ithe rent covers my 15yr 2.75% mortgage

[@rlsh5598]

I think if we don't yet know how to invest or save effectively, buying a house could be a good strategy. It forces us to lock in our money in a tangible asset, which can help us build wealth over time

[@AnthonysMcGees]

How to invest 500k for cash flow?

[@MariosDickersons]

Keep it simple, buy things you understand, take some risk but don't try to shoot the lights out. I currently have 75% SCHD and 25% ROTH IRA. Brokerage account is 40% VOO, 35% SCHD, 25% XLK. Combine balance ~$3.3m Less than 3 years until retirement.... I have about 400k in cash. My portfolio has yielded far more than I expected for my retirement. Kudos to my advisor. I could leave you a lead if you need help...

[@AnthonysMcGees]

@@MariosDickersons I will be glad if you do . Thanks!

[@MariosDickersons]

*CATHERINE PELICAN DIANE* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@AnthonysMcGees]

@@MariosDickersons Great , I will do that now . Thanks for sharing

[@MariosDickersons]

@@AnthonysMcGees You are welcome .

[@Manthy11]

This whole conversation is gold. I set my phone down near my husbands computer (remote work) with this episode on, and casually walked away to do chores. I want him to hear two other men discuss this. Sometimes it helps to hear it from other people.

[@r-test3668]

I would’ve turned down the phone and put headphones on, just ask if you want me to watch something

[@Jsmacky]

Why?

[@VitalityExpress]

Halfway into the conversation and I notice that most people compare rent payment to mortgage payment. Home ownership costs far more than just the mortgage. Property taxes and maintenance add another 50% on top of the mortgage. A home you own needs constant upkeep from a new roof to a burst pipe to a rotting deck to snow removal and landscaping etc. Every comment here shows that renting vs ownership is a personal and local decision. Security vs freedom to travel, flexibility vs pride of ownership. Rental prices and opportunities vs real estate prices in your area.

[@VitalityExpress]

@@silvafox7719wow. Didn’t know that. In small town Canada my home costs as much per month in property tax as the mortgage payment. Water, sewer and garbage collection are charged in addition to that. Plus repairs for a recent flood, insurance and installation of a sump pump. Just proves that there is no ‘one for all’ decision of buy vs rent.

[@dlc2479]

​@@VitalityExpressdon't listen to them. You can google it, it's cheaper to rent vs buy in most of the UK now. It's true that we don't pay regular property taxes but we pay pretty high stamp duty when we buy

[@strawberry_punch_art]

Finally someone talking some sense in the comments. It needs to start with the numbers, how much each is worth, its the moment 1:04:00 in the video for those with selective hearing and defensive issues.

[@SoulTouchMusic93]

@@silvafox7719 as someone who also lives in uk there's no way in heck you pay £500 for mortgage.

[@EvoraGT430]

Mortgages don't last the whole of your life. Renting will.

[@newbeginnings-r5b]

Some really helpful advice in this episode, thank you as always! Growing up, I never saw my parents talking about money, and I wish they did. They didn't bring up the topic, so it wasn't discussed. Before watching this episode, I honestly would not know how to approach the conversation about money. I think I would personally feel bit embarrassed and awkward talking about money. When I was younger, I lived with my grandparents and the first father figure I had in my life was my grand father. He was a true gentleman and I never heard my grandparents talking about money either. To be completely honest, I didn't know that this was a conversation that people needed to have. Looking back, I think that it is definitely important for couples to be completely honest and transparent with each other when talking about money (and everything else that means a lot to them). I love the idea of having a shared vision and working towards it together. The most important thing I've learnt from this episode is to remember not to associate money to my own self worth. I think that a person can have all the money in the world, but not have real lasting joy or inner peace. There are some things that money can't buy. A person's heart and character mean the most to me ❤

[@karinesavard2016]

What is crazy to me that people can share deepest intimacy together but somehow talking about money makes them uncomfortable 🤭😂🤣😂

[@DJAndeKarmaRecordings]

Agreed

[@jhajndezdomi7894]

Is easier to exchange genitalia than bank statements

[@ForeignFlexTv]

Facts. However it stems from women

[@TheKrazykwasi]

I think it stems from “leverage”. The person with the most money knows that once they show “all their cards” it makes them vulnerable. People are more willing to be vulnerable with sex, and intimacy… (we can get over hurt there) but being financially hurt can be more directly impactful for the long term… my thoughts on that.

[@lynnesookdawar3979]

Me too. Go smacked at the statistics he have. So most people don’t talk about money? I would say that money is probably the one thing that is easiest. We may not communicate well on other things but our goals and finance are explicit and transparent

[@vittorianesse]

I became so free when I sold my house to quit the 9-5. Yes, moving is a hassle but I am now master of my own destiny and no longer burned out. I also get to live in beautiful houses in any location, and oddly money just seems to flow in more effortlessly than it used to when I was grinding. It’s like the less I worry about money, the more it just appears. ✨

[@franklynrivas2380]

I’m thinking of selling my house too. I want to have freedom, and travel and not worry about a mortgage

[@pinkkittyize]

I'm similar, rent and work part-time, life seems so much easier. And as you say, money doesn't seem to be a problem 😊

[@suzettebarclay6423]

Where do you live and how much was your mortgage and how much is your rent. Be honest.

[@suzettebarclay6423]

​@pinkkittyize, where do you live, and where would you live to work PT just curious 🤔

[@MylesNowik]

The topic of talking money wiht your kids is so so important! I recently celebrated my first child's first birthday, and it's definitely something I want to focus on with him. My father tried to talk to me about money, but he wasn't very effective, and unfortunately, I had to change my relationship with money at a later age. I would love for my little guy to start learning earlier than I did so he can begin building wealth from a young age.

[@nkadimengselowaromeo9884]

Oh this guy was like talking to me when he said "I don't like cheap people" but in any case I save and invest as I believe in building before spending.

[@Scoop777]

Whether you rent or pay a mortgage, if you don’t fully own the house then it is not yours. You are either paying a Landlord or paying a bank. The house is still not yours unless it is fully paid off. It can be repossessed at anytime if you suddenly lose your job or get ill.

[@camcommute]

yess, but you missed one. if you don't pay the property taxes they can come for it even if it's paid off.

[@Scoop777]

@@camcommute true

[@fs5775]

@@camcommute because you need to contribute to your community - the schools, fire department, roads - that's a good thing, right? if you weren't doing that and just holing up in your paid off house saying 'screw it' to the local schools, library, community center, etc, it would be a much worse community and country to live in. as long as you pay into the community you live in with property taxes, you can write "no trespassing" on your land and it's your right to do so.

[@tobinkern5389]

let me know at what point the rental ever becomes yours or allows you to pull equity from it.

[@cherdovale2443]

It can always be taken away if you don’t pay taxes

[@PieterSadie]

Back in 1994 I bought a house for 175K. I got divorced and the house was sold at a loss. I have been renting ever since. After 30 years that same house is now selling for 4 million. Crazy how prices kept increasing over the years. I prefer renting. Right now I live in a luxury apartment and the rent is probably a fourth of what a bond would have cost. I prefer paying less and investing the balance. Much more freedom.

[@bylinefilms]

You prefer renting when you could have made a 20x return on your house? LOL

[@PieterSadie]

@@bylinefilms Hindsight is always 20/20. Looking back, it would have been a great option, but after the divorce, I lost everything. By the time 10 years had passed, it was too late. These days, renting is much more affordable than buying. The levies alone where I’m renting now are almost as much as the rent itself. Even though I can now afford to buy (which I will never do), I would be paying at least three times more than what I pay in rent for bond payments, levies, and utilities. At 57 I cannot see the point of being a bond slave for the next 30 years. I would rather pay less and enjoy life, plus save towards retirement.

[@juliettst5203]

For some people maybe renting is good and cheaper but in some countries owning your own place and having a freedom what to do your own place is satisfying and also not moving every year is the best. My cousin has been renting and lucky they don’t have kids and they been moving a lot.

[@caradeluca3613]

I just sent this video to 10 of my friends. every young adult NEEDS to listen to this. so many important themes discussed.

[@suzettebarclay6423]

I wonder how many responded and how many will be active 🤔

[@MindJardin]

Ramit Sethi is great and it's so nice to see these two interacting! I really appreciate Steven's thoughtful questions, empathy, and vulnerability. I also love Ramit's money advice, in part because he knows how linked to feelings and emotions are decisions can be, giving his work layers of depth and practicality. He helped me a lot in my research to become more financially literate and create a healthier relationship with money!

[@versaillesthomas]

By all means buy a house if you want to...but please stop calling it an investment. It's a payment towards owning an asset that you most likely will never monetise and even if you do it most likely is to upgrade from your existing one. Once again an asset purchase and not an investment. It is only an investment if you are buying a house and renting/leasing it out and earning an income from it.

[@UNIONFEATURES]

Call it what you want, but once you pay for your property you no longer have to pay off the landlord's mortgage.

[@MohZuabi]

@@UNIONFEATUREStakes 30 years to pay it off until it’s yours. In that time you’ll pay 2-3x of what you bought it for, and on top of that after you own it you still have to pay property taxes, so you still don’t own it. Crazy

[@stelagirl94]

@@MohZuabi Not in the UK. We don't have ongoing property taxes. That's a US thing.

[@TJrules299]

@@stelagirl94that’s odd because there are certain taxes homeowners pay in the UK, like the council tax or the ground tax (if they don’t own the land).

[@stelagirl94]

@@TJrules299 council tax is paid regardless of whether you’re a home owner or whether you rent. Ground tax is only if it’s a leasehold property which is usually only the case with apartments. I believe that’s to do with maintaining common areas in the building. The vast majority of houses are freehold and do not come with additional ground taxes.

[@smithlenn]

Thanks for the video. I finally established a way to increase my net income per month. My 2024 goal is to pay off the house by Nov 2024 (8 years total into a 30 year @ 4%). I have no debt other than mortgage. My 401k, HSA, IRA and emergency funds get maxed out. The mortgage is my last piece of debt left. I don't have any school loan or CC debt. I've made a lot of sacrifices over the years. I'm almost at the debt free finish line.

[@belljoe]

This seems like the worst period for me . Even the markets are very unpredictable. started investing recently when the market prices were a bit high ,today i am more than 60% down

[@rannyorton]

I don't have a full-time job; instead, I'm self-employed with a variety of sources of income. Regardless of how much money I generate each month, I maintain the same budget and adhere to my means-tested lifestyle.

[@tradekings5433]

It's so hard this year

[@smithlenn]

A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

[@belljoe]

How can I participate in this?

[@ek6007]

Not sure why all the comments are stuck on this issue of renting vs buying. Ramit is saying "UNDERSTAND AND RUN THE NUMBERS!" For your particular situation, it may actually make more sense to rent than to buy - just don't blindly accept the default idea that you need to buy. It all depends, but be aware of what the actual costs are.

[@jenniferstamp1006]

Negative folks didn't actually watch the interview. It's actually a very smart conversation that doesn't say 1 way is right for everyone.

[@acceleration1146]

People who already in debt will need someone else to buy the house for more of course. So if you won't then they come after you haha otherwise who cares whether me or you invest our money, rent or buy. Really who cares unless… 😂

[@thomasczthomash1859]

It's because he's painting an inaccurate picture and skipping over the important issues to create a narrative.

[@ek6007]

@@thomasczthomash1859 What is he leaving out?

[@samuelloification2749]

​@@ek6007the downsides of long term renting and renting in retirement for most people (not wealthy people who don't have to worry about that)

[@shanajames7552]

Back in my 20's dating I always paid half for dinner, especially for the first date. Never split the bill? I did not want to feel obligated to a man I didn't know that well. What if it goes nowhere? Some poor guy pays for an expensive dinner he may not be able to afford and either feels disappointed that it didn't go anywhere or he feels he's paid and is owed something in return (sex?) Either way it creates problems. You guys came across as not understanding the pov of the female in this situation and also not understanding the pov of men who are less financially successful than you. I am now in my 50's and married to the same man for 30 years with 2 adult children. I do agree that ongoing conversations about money (and everything else) are the only way.

[@IAmebAdger]

Happy for you about your successful marriage. We always split the bill too, just because it was easier than having a discussion about it every time, but I would be fine with having the person who requested the date pay for it, unless there are affordability issues if course. I don't think dates need to lead to anything (eg. sex). They are enjoyable enough an activity all on their own, and if they lead somewhere that's nice too.

[@Raphanne]

Same, I really don´t see the problem. We always split the bill with my husband from day 1. We´re both financially responsible, so I don´t see why he should be paying.

[@thrilla72]

​@@IAmebAdger you're saying that because you're not the one asking or expected to pay.

[@MrGianeta]

As a woman, I understand your perspective and I was also always slightly uncomfortable with men paying for my meals. I mean, you don't want to owe them anything and paying for two people is more expensive than paying for one. But I have been thinking I'm in the wrong here. If a guy is not ready to bear expenses for a meal, how will he bear them for a child? I think that maybe we, women have been too understanding and accomodating. I also maybe have a bit of double standards here, since I myself always pay for my mother when I take her out to dinner, and often for my girl friends if they are guests and I invited them out. If they come rarely - a precious friend living abroad and visting for a short time or if they are from a provincial town and I know their financial situtation is not ideal. I want them to enjoy their time with me over a meal and unwind and not to add to their stress by adding on to their bills. I am not a man, so maybe that's why I have never regretted these things - it's actually even quite agreeable to be able to treat people you like. I have also been treated by my older girlfriends when I was a student. Their motivation was the same, they knew I couldn't afford the bills for a restaurant as a student, but they wanted to spend time with me and to treat me. I now do the same for younger generation, if they let me (sometimes girls can feel uncomfortable about even girls treating them, which is a pity really. If I offer, it's my free will. They don't really owe me anything).

[@thrilla72]

@@MrGianeta Ok, one crucial thing you are forgetting that makes your comparison unreasonable. You already had established relationships with all those people you were paying for. Paying for a mother whom you know loves and cares for you is not the same as paying for a woman who may be undecided on you, sleeping with another man or simply using you for a nice meal.

[@aniluvilla]

One of the best decisions we made as couple was to take a financial course + couple finance consultancy. It ran for 3 months and we have grown so much from then on. Our conversations about money used to be painful and tough, and now we both enjoy it and even look forward for a money conversations whenever needed or possible.

[@thabsoficecream269]

The four personality types was golden. I always knew I was a dreamer. Purrr. But on a serious note that was that was super amazing and introspective.

[@Muffguff1]

What a treat! Ramit and Steven in the same room!! Loved this , thank you 🙏

[@KingaGorski]

Hyped to see Ramit on here, I'm currently almost halfway through reading his book IWTYTBR and just finished his money coaching program. Love his stuff-his philosophy has really helped me hone in on what my Rich Life means to me, and how I can start living more of it today while planning for an even richer life, tomorrow 🙏

[@ben.siyotula]

I genuinely think that you have us so hooked on the conversation that we genuinely believe we have subscribed most of the time... I also need to say it, this happens to be one of my favourite episodes of all time. complete;y relatable - coming from a newly middle class home in South Africa, and being black, you learn to avoid money conversations all together.

[@thereisa]

Waited to watch this since it's 2 hours long.. What a worthwhile conversation.

[@franceslothian1319]

Wow I'm feeling quite smug now. What he describes about putting the money into a joint account and then feeding your individual accounts from there is exactly the way we decided to do the finances when I got married. We never had arguments about money! We had arguments about other stuff but not money. Also laughing about bad financial decisions. 12 years ago we bought a narrowboat which i describe as the best impulse purchase ever. It costs a fortune year in year out on mooring fees, boat licence fees, maintenance - but it just brings us so much fun and enjoyment! It's good to separate the idea of financial decisions from emotional decisions. My son and his partner are about to buy a small flat. That decision is based on being fed up with house shares, fed up with the insecurity of renting, fed up with rents going up and up and up all the time. What they're really buying is stability in their home life!

[@starrchild1731]

Yess ! Ramit! He is great. I’ve listened to all of his podcasts . Everyone should be listening to him. Pay yourself 1st!!

[@3elperro]

MIN 33:00 - if you are broke, and someone leaves you for that, it is time to get your life together because that is just a signal for you to focus on fixing your finances rather than crying because you got dumped..

[@Liam-g701]

Hey, I want to start investing but don't know where to begin. Any advice or contacts for help?

[@Kevin-ie1fu]

It's wise to seek professional guidance when building a strong financial portfolio due to its complexity.

[@OsademeFrieda]

Talking to an expert like Liam watt to reshape your portfolio is a smart move.

[@Fg-oq7mr]

Same, I met Mr Liam watt last year for the first time at a conference in Manchester, after then my family changed for good. God bless Mr Liam

[@GioohFydss]

YES!!! That's exactly he’s name (Mr Liam watt) so many people have recommended highly about her and am just starting with him 😊 from United States

[@VasquezPetersonYoung]

Please who is this Mr Liam This sounds so good andI would like to be a party to this, is there any wayl can speak with him?

[@rayanarenee]

Omg! I love RAMIT. I clicked on this, not realizing it was the duo! I'm like, wait, this intro sounds like CEO, but is it Ramit? I’m excited for this

[@cailllou25]

That woman who's making 200K per month doesn't want her ''poor'' boyfriend to actually pay for dinner. She wants him to WANT to pay for dinner.

[@user-gr7jo9qb3l]

numbers aside, men still place their value on their income. they will always feel subconsciously emasculated by women who make more. Many high-earning women are cheated on for this reason. I stay away fr poor men, not bc I want to be taken care of but bc I don't want their violence and betrayal.

[@mhodge0890]

He literally said he want to pay for dinner. I don’t even think their a good match for each other but that’s my opinion

[@eddie9559]

He obviously wants to, thats he was going to (before she said no). What she wants is a rich boyfriend, someone who doesn't have to save every bit of spare cash so she doesn't feel bad about expecting him to "provide." She's just on denial..

[@94ukrainian]

I think, she wants it to look like he is paying

[@SherriFlemming]

Take turns paying.

[@cynthiabrown5468]

I completely agree with the comments about renting. Strong and weak markets are dangerous in the game of buying a home. At one point, our mortgage was upside down for 10 years. Couldn't sell the house due to a huge gap between the market value and the mortgage. However, the rental market is also bad now. I had a 2,400 sq ft house, and the mortgage was $1,000 lower than what a one-bedroom condo now rents for. In today's market in my Canadian city, a one-bedroom rents between $1,800 and $2,500. Everything is f*&ked right now.

[@JCHarris-iu6my]

Having been both a renter and a homeowner twice now I can say that I am very happy that we’re not plastering our walls with rental receipts as we did when we were younger these days rental units are as much or even more expensive than our current mortgage payment I can’t speak for everyone but I would never go back to renting an apartment or anything else for that matter why make someone else rich?!

[@cindywhiteway]

Sounds like vancouver

[@sereneh9508]

😊😊😊

[@elyseremy3816]

@@cindywhitewayMontreal isn’t that far from it…

[@matthewtaylor2040]

Anyone that thinks renting is better than owning is an idiot. Renting doesn't create a community to live in, it does quite the opposite

[@Martin_Sommer-m4b]

For all of you who don’t feel like watching the entire video: Ramit Sethi explains in this video how to manage your daily life with simple yet effective techniques. He advises starting each day with clear goals that aren't too large to avoid feeling overwhelmed. Instead, break down bigger tasks into smaller, manageable steps to ensure steady progress and stay motivated. Sethi emphasizes the importance of having a structured daily routine. This routine should be flexible enough to accommodate unexpected events but structured enough to use time efficiently. He also advocates for taking regular breaks to clear your mind and reduce stress. It’s essential, he says, to take these breaks intentionally to maintain long-term productivity. Another key point is reflecting at the end of the day. Sethi suggests taking a moment to think about what went well and what could be improved. This reflection helps not only to continuously improve but also to recognize progress, which keeps motivation high. The techniques Sethi shares are backed by studies showing that people who incorporate clear structures and regular reflection into their daily lives are more satisfied and productive. His tips are easy to implement and provide a sustainable way to make daily life more efficient and fulfilling.

[@dldustp31]

Nice AI summary

[@coloremel]

He talks about managing and enjoying money. He explains the 4 different money types. Though your advise is great, is doesn’t reflect the information given in the video.

[@IAmebAdger]

Erm, no that's a bad summary.

[@peterensor9689]

These opening clips are more gripping than a Hollywood movie trailer. Keep up the great work!

[@bluemoyie8618]

🙏 Thank you so much for this conversation. This is clearly one of the Very Best conversations that you have had on your channel. Every person, couple, and family should watch this, several times, and discuss and learn. Most children never learn about money until they need to know. I wish this was taught in school, with children at all ages.

[@mhellden]

Two of the best KZbinrs in an interview, I am sold.

[@murtozahasan]

Thanks a lot for these amazing videos. I get a lot of value out of your contents. Very few channels can provide this much value. ✌

[@jhodisapigao5977]

I really love listening to Ramit; he explains it as easily as possible, very easy to understand, and lots of learning from there.

[@rahulshah1408]

Thank you for talking about the big picture. I am taking my best friend out on a cruise for his 50th. My 2 choices were not go or pay for it. He’s worth it.

[@mikes.1978]

Too many people in favor of home ownership oversimplify the decision making process The argument is something like "if you add up all your rent over x years, is it likely the house will depreciate or cost that much to maintain over the same period? no! so clearly you should buy!" In reality, there are many more factors to consider... If you rent, your non-recoupable costs are: 1/ monthly rent (+ light bill, etc) 2/ broker fee (usually 1-2 months rent?) When you buy, your non-recoupable costs are: 1/ property taxes 2/ home maintenance costs 3/ home insurance 4/ closing costs (both buying/selling) 5/ interest (most heavily weighed toward the beginning of the mortgage term) 6/ potential (unlikely) depreciation 7/ lost opportunity cost Most people will enjoy some appreciation of their home if they own long enough. But if you do the actual math (and guess accurately enough on some of these points), the net financial benefit of ownership may be negligible, especially over the shorter term (5-10 years of owning before selling)

[@Redvesta111]

I am a Brit renting in Germany and it’s very stable, we will not have to move. We have three children and can’t buy here because prices have skyrocketed in the last 5-6 years just as we were getting into a position to buy. We earn €105,000 together so well educated and earn well. We have a nice life and aren’t squeezed to the edge with a massive mortgage so we save and can afford to do things sometimes and enjoy birthdays and Christmas and these sorts of things. I came out of uni in 2008, as the crash happened and saw several friends buy flats just to then be trapped there as their value dropped. I avoided that and now I’m trying to shake off the feeling that I ‘should’ be buying a house and that it’s a one of the markers that I’ve ‘made it’. I have lots of homeowners in my family, so it’s part of the middle class story. Except that these days things have changed, we live in a place where it doesn’t seem worth it and it’s not even possible to buy a house for us. There are almost no smaller cheaper ones within our budget (up to 450,000 euros). Not only that but when I see what they are selling for, I know that even if I had that money I wouldn’t spend it on a crazy overpriced house I’ll be paying for until I’m 75. I have a family member who is 65 and stuck at home, mortgage paid off but won’t sell because it’s his house and has no extra money so very low monthly income and can’t go anywhere or do anything, even things like eating out with family or things like that. Buying a house doesn’t seem like the be all and end all, as much as I have been conditioned to think it is. I have been blessed with three healthy children who are happy and have a great school and growing up in a beautiful place.

[@Redvesta111]

*earning total mentioned is with me working only 70% of the week, because I want to be there for all sorts of things for my schoolkids and have time to spend a few days home with my youngest and so on. I’m an PhD level educated woman aged 42. Earning potential could be a bit higher, but it’s a luxury choice and it’s something we will only need and want when our children are young. And we know even with a full time earning for me it would still be out of reach to buy a house. It is worse for so many, having it all isn’t the goal. We all need some goals to keep striving for

[@creative45630]

He’s made more money by renting and investing the difference? There is no difference left over after renting in the UK - it’s much more expensive than a mortgage. The difference is needing a deposit to get a mortgage. Maybe it’s a different landscape in the US? Also, what do you do in retirement if you’ve spent more than a mortgage on rent through your working life, and then still need to continue paying rent through retirement? Through your life you’d have to earn enough to pay the rent plus save up a really decent pension for all that extra outgoing you’ll have in retirement. I’d rather be mortgage free by retirement and keep my outgoings low. I never hear people who advocate for renting talk about retirement planning in the same conversation.

[@RuthBeyond50]

You cant eat your house tho

[@donteatananimal]

It's no different in the US. Having a mortgage is many times less expensive here too. I can't believe what some of my friends pay for rent for a tiny two bedroom compared to a larger house. Only real caveat is repairs when something goes wrong. Otherwise, I still believe renting is paying someone else's mortgage with an extra profit on top for your landlord.

[@jennyj0007]

Can you imagine renting a house into your 60s, 70s and 80s. Most people live pay check to pay check. 😮

[@monkieie]

In Switzerland you must have 20% of the mortgage saved as a deposit. A small terraced house here in a suburb of Bern recently went for 1.4 million CHF. Go figure. Only families who inherit can afford to get on the property ladder. Also, in Switzerland, once you pay off your mortgage you then have a so-called 'imputed rental value'. This means that the govt estimates what you save on renting a property and therefore charges you tax on this 'income' - even though you live in it.

[@narrgamedesigner2747]

Imagine the old retirement person would loose the property. As rhey cant afford rent and no money coming through. I don't think anyone is thinking about a mass rent problem in 50 years for all of the millenials and gen z not being able to afford rent. Maybe it cost like 6k to afford a place? :S

[@edwardcox9698]

Thank you Steven for making this conversation happen. I've listened to Ramit a lot too and what stands out for me, which you have both highlighted, is that too many people do not know about any other ways or means of investing. A paradigm shift has to occur in the mindset of the masses when it comes to 'investments' for the message to take hold. I really hope it does!

[@willbdev]

Wife and I have rode a negative balance ( 1 income w 3 kids) for decades... I needed this thanks!!!

[@TravisPluss]

Ramit has some great advice. He is providing the particulars on how to live within your means while living a mostly care-free life. He celebrates "bad financial investments" into a house as long as you are aware of the risks going into it and understand the non-tangible reasons for doing it. Fantastic guest.

[@oksanatoofor4470]

Ramit’s shirt is beautiful!

[@linafowzy2201]

I thought so too 😍

[@JaNouWatIkVind]

His wife is a professional shopper… for real.

[@Pipygirl]

I don't really get why people have on this guy and get so offended when he says renting isn't wasting money, he doesn't say don't own but he says don't look at it as in investment buy it for other reasons, we owned 2 homes and now we are renting and we are both happier renting, nothing was worse being house poor and constantly having to take care or worry about the house, I love the idea of up and leaving whenever we want and not being tied down to a place etc... I also don't really get the freedom argument while owning, I don't feel not free renting I mean what is it that people want to do that they can't while renting? Aside from remodels...

[@zackcinq-mars2129]

Owning a home freedoms: Repainting, upgrading the fridge to the model you prefer when it goes out, changing the locks to feel safer, putting in energy saving windows or AC units, building a garden in the backyard, owning a large dog. Sure if you have a good landlord they may allow you to do these things, but they don't have to.

[@santafilipina9020]

@@zackcinq-mars2129Those aren’t freedom necessarily. They’re stuff you have to do anyway.

[@FreyaFreya3]

Thank you for recommending Sarah Jennine Davis on one of your videos. I reached out to her and investing with her has been amazing.

[@anilhettiarachci8467]

Wow, congratulations on your impressive investment success! Your discipline and focus on delayed gratification is truly inspiring. I'm curious, what are some of the key factors that you consider when making investment decisions? Do you have any tips for those of us who are just starting to dip our toes into the world of investing? Thanks for sharing your story!

[@FreyaFreya3]

​@Elijah-e6vSarah Jennine Davis is highly recommended You most likely should get her basic info when you search her on your browser.

[@FreyaFreya3]

+156

[@FreyaFreya3]

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[@FreyaFreya3]

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[@casandramacias7993]

I THOROUGHLY enjoyed the segment of teaching your kids about money! This is key to ending generational poverty/curses!! THANK YOU

[@mrlebronsr]

Thanks!

[@saifchowdhury3581]

Cost to Rent: actual Rent+utilities+moving costs+realtor commissions Cost to Own: Mortgage+utilities+property tax+home insurance+maintenance cost - Selling price (+closing cost + realtor commision)

[@JWM1984]

+ Opportunity cost

[@Peaceofmind-be]

+ non-insurable damage risk

[@arrasonline]

I'm cheap. My husband is cheap. We own a house. Everything is paid off...we are debt free and we retired younger than most. Yeah, I'll stick with my plan because it's working. ;-)

[@TheHardTruth101]

How old are you? This information isn’t for 60+ year olds (no offense). Also he’s talking about becoming wealthy, not just debt free.

[@patrickmckenna8395]

I’m happy for you, if you’re not being dishonest, but you’re an exception

[@cap4life1]

You’re likely breaking even but not becoming more wealthy. You have more time as young retirees but what is that extra time doing for you?

[@Zephyr-b4v]

@@TheHardTruth101 Yes, but before you become "wealthy" how about you start securing a roof over your head that's paid off? And don't worry kiddo, after you pay off your home, you can invest the rent and become "wealthy".

[@cm9859]

I commend you both because you are doing things the right way! If more young people learned good money 💰 habits early in life, before getting married or having too many financial responsibilities? It should be a requirement in all states for couples to take a financial course through their State, before getting their marriage license.

[@lonestar4454]

Love this guy. Definietly not for brokies lol. I rent. Also a millionaire. Dont need a house. Love the flexibility of renting.

[@jawlig]

Well you're probably financially free, so it doesn't matter which way you choose. Buying your own home through mortgage is inherently a "brokie" route to financial security because you do it in hopes that you will have eliminated the largest living cost (rent/mortgage) before old age and can cover the rest of your expenses through pension/savings/children.

[@VoiceOfThe]

Someone gets it. I used to own a property, sold up and invested the majority of my net worth instead in index funds and just rent now. I have ultimate freedom to manoeuvre. On track to be a millionaire in 10 years.

[@nganho8993]

I'm a worrier/avoider married to an optimizer. It was hard for me at the beginning of our relationship when my husband mentioned about money and showed me household spreadsheets. I'm glad that I was open to money topics, and started feeling more comfortable to discuss what our life would look like in the future. I have to admit that the whole process is not easy, but communication is the key in the end.I do learn a lot along the journey.

[@sidehustlevikki1066]

This is quickly becoming one of my favorite podcasts! I watch all of Ramethi’s videos so I know you’re bringing on the best of the best!

[@flowmovementtherapy2096]

The reason we rent is because it's impossible to get into the market in this region. My sister is no better off even as a homeowner. She bought about 8 years ago. The interest rates have increased to the point where she won't ever pay down her mortgage. They tried selling but after a year on the market and one lowball offer, they chose to stay where they are. Both herself and myself are in a similar place financially over the long term despite one of us owning our home. We recently moved to a new rental because our previous place was so run down it was affecting our health.

[@icephoenix3565]

And at the end of the day she owns while you own nothing. And I bet your place is much smaller

[@cap4life1]

@@icephoenix3565but she owns a house that can’t sell with a mortgage she can’t pay down. Likely with 80%+ of the family assets tied up in this house so there’s no money left to invest or save after mortgage + basic expenses. For the first 20 years of owning a home, you’re paying interest to your mortgage lender. It’s like hemorrhaging $$.

[@icephoenix3565]

@@cap4life1 only if you get a mortgage. Pay in cash.

[@cap4life1]

@@icephoenix3565 sadly most Americans don’t have a spare $300K needed to buy a house in a decent neighborhood. Much more if you live in a major metropolitan area.

[@franceslothian1319]

The run down place was affecting your health. A homeowner at least can fix the place up. Even though your sister's mortgage is killing her now it won't always be like that.

[@mujeresmoneycoach]

Great interview Steven! I truly enjoy and respect Ramit’s level headed financial advice. Hope to meet him one day! Loving this YT crossover! Congratulations to you both!

[@Hairitage2023]

My mother and father had a percentage based financial advisor for years. They never knew personally where they stood financially. They kept their money with this advisor for over 50 years. When health issues caused them to decide to move into a condo and sell family home. They went to this advisor and were told they had little to no money in their account. They just barely broke even when they closed the account. It was awful, they only had social security to live on. 😮

[@Britt4880]

That’s so crazy! I can’t imagine trusting a stranger with a single cent of my money.

[@faithboyd4548]

I am SO sad to hear this!

[@hritikchand4387]

I am amazed how you who was struggling to eat at some point of life and now living a purposeful and healthy life and also earning enough at the same time . I am truly inspired . Hats off to you 👏

[@MasiLovesPink]

This has been of the few long podcasts I've listened to from beginning to end. Has given me a wake up call to organize my finces and try to help thise around me. ❤

[@stevenduncan1042]

A budget LITERALLY looks forward. It’s what a budget means

[@MinM66]

I don't love your guests all the time, but I love your videos.

[@Bloodlinedev]

Exactly my thoughts :D

[@SJcookiemonster]

This guy wasn’t very interesting!

[@fs5775]

@@SJcookiemonster agreed, he was exceptionally 'meh' but I always love Steven

[@TPRoach]

Agree and disagree on his points. When I had 10k+ constantly sat in my bank account I felt extremely free and relaxed each day. As soon as my bank account was sat near the breadline each month for an extended period I became constantly anxious and stingy with myself and others. Very easy to say chill out about money when you literally have it.

[@marylinninoska]

THANK YOU Ramit for showing us the way about being generous and chivalrous in so many ways, and money being just one dimension of that, and not the only one. Also, thanks for pointing out that not all money issues come from one gender versus the other.

[@ginalowe9103]

I used to spend $150 a month on coffee. I was transitioning from working to retirement. I enjoyed it, but seemed expensive for a retired person. I would go to the coffee shop to read for a couple of hours. Eventually I decided I would read at the library or on line. And I bought a steel French press and drank It at home mostly. I do go out occasionally to meet a friend. My husband told me I could invest my money however I wanted. I took out a loan against my 403b and bought a small apartment building of 4 units. I still have it after 8 years. I don’t have tons of clothes or lots of hobbies. I do enjoy spending time with my family. I also have invested my pension in a self directed IRA.It’s money we don’t need. I have invested it in a syndication. I invested in the syndicator AND the project. Thanks for the info.

[@WeaponryFitness22]

Renting is way better. Keeping options open is crucial. And makes investing easier to do because you don't worry about the resources it takes to maintain a home.

[@raze5346]

How many people do you know that are renting and investing? Out of all the renters I know im my life like maybe 2 of them actually invest on a regular basis.. Its a lot more harder then this guy makes it out to be. Investing isnt fool-proof and shouldnt be advertised as such, I've had friend and family lose money because of investments.

[@gins8781]

Although I live around the poverty level, I am “creating a rich life for myself”. I save, I donate, and I spend to fulfill myself. What I can’t do is consider sharing my “wealth” with a partner. I experienced financial dishonesty and exploitation in a previous relationship. I am still recovering from the harm 16 years after the relationship ended. I was very forthright about financial goals and expectations in the beginning of that relationship. I thought we were a team. I worked hard for success and made sacrifices to achieve our goals. As soon as the money started flowing in, my “partner” did an about face that involved betrayal on many levels, including hiding assets. That short sighted individual burned everything to the ground. And it changed me. How does one recover from that?

[@nspowers7130]

I didn't recover from that. I worked around it. I found very respectful and honest relationships. I only dated people that were my equal. I never remarried and I'm confident no one knows how I make my money. Sounds weird but it works for me.

[@vineelio]

Suze Orman gives the best money advice and has been teaching financial sense for decades. My vote is to have Suze next on your show!

[@Melaniejd902]

I miss watching Suze on the weekends and her Suze Smackdowns

[@carlafuqua1685]

Thank you so much for Chapterizing the interview for the viewers. And thank you for inviting my favorite financial counselor, Ramit Sethi of I Will Teach You To Be Rich. He is far better than many of the dramatic financial counselors that shame and blame for views.

[@GoddessMarcy]

I watched Ramit a few years ago on Netflix and my way to see life and money has definitely changed. As a worrier I feel happier now that I started spending on things I love and saving on things that are not important to me. Started Investing and stoped being obsessed with buying a house in US.

[@pigglet802]

I relate so much to both you guys and I don’t want to say things that might cause controversy here. However we should all agree these two guys are the real deal by the way they respect their partners. That’s the bottom line of this conversation. Period! If we had relationships with this amount of thought process it would be a different world without all the crazy distractions.