Fixing My Subscribers’ Finances

I’ve helped millions of people fix their money and in this video, I’ll look over 3 different couples’ finances - and show you exactly what I would do to fix them.
LINKS MENTIONED IN THIS VIDEO
💸 Submit your Conscious Spending Plan for consideration: iwt.com/submitcsp
Ramit Sethi is the host of Netflix’s “How To Get Rich” and New York Times bestselling author of “I Will Teach You To Be Rich”
Find Ramit on Instagram: / ramit
Subscribe so you don’t miss any of Ramit’s videos: / ramitsethi

[@douglasbaker]

I would like to see more content for a single person that’s not in a relationship.

[@spf_500]

I think single people just don't apply as much as married couples but I would love to see this too

[@Playingwithproxies]

With no other person to agree on what’s important you are the sole person that determines where you money goes. Break your own self fulfilling prophecy or stories about money if you want to grow. 😂

[@woboznz]

Ramit has said in comments on this channel many times that his focus is just on couples. I'm single myself and I'd love to see singles too, given we're more than 30% of the population and actually it's much harder to survive in tgis world financially on your own especially as a woman with gender pay gaps etc

[@jjh00]

Get a girlfriend dude.

[@woboznz]

@@jjh00 why so she can pay for things?

[@dkayok]

I had 2 kids in my mid-late 30s. I had a good job at the time and saved up $5000-7,000 for each kid & invested it in treasury bonds because I didn't know much about investing at the time & it was a safe thing. I did this before each was 1 year old. By the time they were ready for college, each had $30,000+. During those years, I became a single mom, had very low income, etc. and never was able to add to that. But doing that one thing was a huge help to them when they needed it.

[@motavice3499]

You did great with what you could because it came from your heart. I'm sure your kids will appreciate it

[@CreditBuko]

Wow that's amazing. Hope you the best.

[@AndeeLee-yi4ot]

Tossed in my extra bucks to uSMART, banking on 7% interest for my on-hand USD. Let's see the returns!

[@Elizabeth-mf3dn]

That’s amazing!!

[@MilaN-lt2mq]

You are the only person, who recommends people who can should spend a little instead of living on nothing and saving everything. Very refreshing take on finances. I love it.

[@ramitsethi]

Thank you

[@Lazirus951]

Yea, some finance people out there seem to focus on investing every single penny and it's like "for what?" Can't take the money with you when you're gone.

[@kenreliableb18b]

I like the concept of reviewing multiple CSPs in one video. More please!

[@StayPuft209]

Agreed this actually makes for a good mini series! Kinda like the cnbc millenial money series.

[@mrwubwubz9714]

Yes i just subbed and hope theres more

[@cupidok2768]

Oh my God he makes more money than me and he's using more money than me how is that possible

[@ghjong001]

I really enjoyed seeing couple #3's finances. It's so easy to focus on the negatives, and the various pathologies people have about money; I'd love to see a deeper dive with people who seem to have figured it out, or mostly figured out. I suspect they might have been saving for a home in a VHCOL city, and over time, realized that they had no problems with renting, and still enjoyed life even with their high savings rate. $1.2k/month on travel is $14k/year - that's still an incredibly generous travel budget. So is the $1k/month guilt-free spending. I don't think they're missing out, or even afraid; I think they just realized they're perfectly happy where they are, and don't see the need to expand their lifestyle.

[@bgoode652]

I can relate to #3 with a little less income. I think you're right. I'm not afraid to spend money, just don't throw it away just for the sake of throwing it away.

[@camille744]

My parents basically did this(though they are immigrants and didn't have full advantage of finances here) but they lived well below their means such as not having even purchased a house since I was 7. There were times when money was "tight" but even after moving to an area with low spending and housing costs we still lived frugally and spent most money on vacations or childcare bc my dad became a single dad. If we had lived at our means then 2008 crisis (had to sell that place at a negative) and other issues would have taken us out as well as I would have probably grown up entitled and spoiled. Now I'm in college and dare not to even touch the inheritance money I got from my grandparents, it goes straight into bonds.

[@rebeltheharem7028]

@@camille744 Since you are this young, I think you can put your inheritance in to a bit more risky investments like market ETF's, but if you are that risk adverse, then I suppose bonds are fine. Just remember that investment makes more money the earlier you put it in. But good on you for being fiscally responsible.

[@camille744]

​@@rebeltheharem7028 Very true, that was towards the end of covid when recession was unsure while short-term bonds were at all time yields. Now it's reversing and I'm in the process of moving almost all to stock

[@Mister6]

As a viewer of your channel who has gotten over the "hump" of moving from paycheck to paycheck I can definitely say it is possible. We went from barely making ends meet in our late 30s to be comfortably on the stretch where we can choose to retire and my wife and I are both 52 now (with 2 teenagers at home). That's despite our incomes not significantly increasing in the last 15 years. We changed our spending habits using rules similar to what you promote. We also learned that once it became reflexive to save/invest the right amount, we were able to maintain a similar lifestyle to where we were before we started being smart with money. We're now at a point where our retirement is assured when we choose to stop working (likely mid-60s) and are more focussed on looking after our kids and future grandkids. I wish I had known these strategies in my 20s as things would be much better today but even starting to be smart with money at around 40 had a major impact on our lives in only a decade. That shows while it's always better to start earlier with good money strategies, it's never too late to start

[@VanAlh]

This format is a keeper❤

[@tessjune88]

Totally!!!

[@Mister6]

I definitely understand your comments regarding the last couple. My inlaws built a portfolio worth ~$5m while living on basic staples, rarely going out and never travelling. My FiL passed away about 6 years ago and I know he had regrets, My MiL is 90 in a nursing home and always complaining that she's never gone anywhere or done anything. Sure my family and by BiL's will benefit but we would have been much happier if they had left us less and enjoyed life a bit

[@Lazirus951]

Same thing happened with some of my relatives. The spouse was understandably angry when she realized how much money her husband actually had when he passed because he never took her on trips and they always drove used cars.

[@Someone-ji6ni]

Life is a balance, you want to save enough to enjoy your old age and handle emergencies, but you don't want to hoard money for 0 reason. You have 1 life--we need to enjoy it.

[@123batina]

My grandma was hungry as a kid, which pushed her to be always saving. She lived in her own flat (good neighborhood) on a 500 euro pension. She managed to save 150 euros / month. I paid her utilities (150E - which she insisted she will refund me - ok) + she lived off cheap sausages, baloney, rice and pasta along with veggie stews and soups, alltogether wouldnt cost 150E. I sometimes bought her prosciutto, fine stuff. I even ordered a restaurant to bring her a cooked meal every day on my expense, which she canceled. Once I found 20kE in one of her drawers (cash). I got so mad, she could have been robbed and hurt because of it. I asked her is she would like to travel a bit, go to spa, seaside, anywhere so that I can organize it for her. No. Any other wishes. No, nothing. New clothes - oh she is old lady she doesnt need it. OK. I put 19k in her bank account, just so that it isnt in her apartment. I explained it to her that if she needed money she should just go and get it from the bank. She looked at me as if I took that money away for good. Old habits die hard. In 3 months there was another 500E more in the drawer cash pile. So - nothing changed.

[@KiHToG]

They spend 14.400 $ on travelling each year. You can do a lot of travelling with that kind of money. And depending on your hobbies guilt-free-spending of 1500$ a month is more than enough. Spending money on what you like makes you happy not spending money on something you are not really interested in just to have spent that kind of money.

[@bteplik]

I like both formats! This format leans more toward the practical side, while your work with couples leans more toward the emotional ties money has. Both are valid and necessary, and I've learned from both. That said, I'd also love to see more content for singles. As a single woman, it's actually been suggested to me a couple of times when I talk about finances that I should get married. Um. A Man is Not a Financial Plan. XD This might be too niche, but it would be awesome to see you interview/look at the CSP of a single person who owns a business (an LLC, not an S-corp). It would be super helpful to see how people handle those taxes.

[@arstorte]

I can appreciate Ramit not wanting to produce content for single women. Personally I love the niche on couples because the dynamic between two people is an added layer of complexity. As a fellow single woman, @bteplik, I've found both the Financial Feminist and Money Feels podcast to be a nice addition to Ramit in my weekly rotation. Both have a similar "rich life" philosophy to Ramit but may speak more directly to some of the content you mention you're seeking. Cheers!

[@bteplik]

@@arstorte Agreed on the couples dynamic! I’ve been learning a lot regardless. I just think it would be cool to have both perspectives: a couple trying to mesh and singles trying to figure it out before (or without) meshing. 😊 Ooh thanks for both of those suggestions! I’ll check them out! 🤩

[@mandybrasher905]

I have been watching your videos for a while now but finally happened on this one. I have been living as CSP #3. 24% fixed costs, 56% take home going to investments, 20% guilt free spending. This is after my maxed/matched 8% retirement through my job that is paid as a life-long pension. I would feel so smug watching your analyses of CSP's with high fixed costs, but in a way I got my own set down with this CSP #3. I have actually finally ran the numbers (with the most conservative estimates) for a retirement at 60 and even cutting my investments in half and early retirement penalties gives me a retirement gross income more than what I earn now. I thought I was doing the right thing dumping so much in investments, living my comfortable but modest life. I have recalculated my CSP as best I can right now. It's still 27% to investments, but it's 48% guilt free (or 38/10 guilt free/savings (vacations/gifts)). I am still designing my rich life, but you're right. I need to think bigger.

[@snackman2005]

I like this format better than actually talking to the people. This cuts right to the chase instead of hearing about peoples childhoods etc.

[@yotiwild8670]

I love both! 😊

[@casey2124]

It’s good to hear about people’s lives though when talking finances. It reveals a lot about spending habits and their mentality towards money. You can budget all you want for someone but if you don’t change their mentality, it’s for nothing they’ll keep justifying spending that money. Seen it too frequently

[@KiingM]

Please do this every week! It would be awesome

[@lesliedonovan8123]

I always take a little tidbit from each CSP analysis 😮. Keep doing this format!

[@HeatherRiley-c7h]

Love this! Love the visuals, the concise comments, and the targeted advice.

[@matthewwitte3832]

This is great! keep this format going forward, maybe add in their professions, goals, big wins, challenges, etc. Basically the highlights of three of your weekly guests with probably a lot less work to produce! Also, you could look at single individuals, students, low vs high cost of living locations, single parents, etc. the possibilities are endelss

[@Quincyq15]

You should do more of these

[@RiverasHotWheels]

@ 19:42 he’s right. I live in Los Angele. Some houses we saw last year ($720k - $780k) mortgage is $4,400 a month 💀 Our rent is a lot lower than that for the same size of house! Yes rent increases yearly and although we could buy a house, we chose to rent right now till it makes better sense later. We enjoy our guilt free spending 😁

[@rebeltheharem7028]

Indeed. I've run so many calculations on rent versus buy, and its only in one case where buy is better than rent. And that's if you are not only going to live in the home for more than 15 years, but that its appreciation is over 8% every year for 15 years straight, mortgage is lower than 5%, and rent increases more than 10% every year (which is very rare, as 10% is the cap in California, and most years, it's less). My only assumption is that you can make a 20% down payment (because if you can't, its always better to rent, in every scenario). I've run the simulations many times as I'm always looking to buy a house...

[@jeromehenry4484]

Love this financial podcast with just figures, not heavily centered on emotional issues. Hope to see more of these too! Would like to see a breakdown in "Insurance" category. Sometimes looks extremely low, especially for couples that own a home, 2 cars, have at least 1 child (usually more). A single person without children having only 3 months of emergency fund is okay, but a married couple with children need a minimum of 6 months emergency fund. If they have not built that up, then they really need to sign up for Short Term & Long Term Disability Insurances at their employment. Then it becomes OPTIONAL if they want to keep Short/Long Term Disability Insurances once they reach their Emergency Fund goal. (I personally kept them because I wanted an additional layer to tap BEFORE tapping actual Emergency Fund.) Term Life Insurance is even imperative for single people without children; get it while you're in 20's while you are still relatively healthy & can easily afford a large policy. (No, I 'm not an insurance agent, but was a caregiver for 16 years for 3 family members. It's rough! If I'm gone, then who takes care of family then? They must have funds from Life Insurance to pay for all the daily tasks I did for free.)

[@lindaanderson1016]

ABOUT HIGH FOOD COSTS: We invest in our health by buying pasture raised eggs, some fish, meat and fresh produce. Avoiding GMO / Round Up sprayed food. I shop 6 different stores for deals. Our food bill, in our 60s, is crazy high. Hundreds on a lower income. Almost nothing needs to go to medicine, although one is diabetic. Better to spend on salmon and berries we enjoy, than medicine.

[@clarklowe5632]

The one thing I would say about guilt free spending is at some point if you make enough 20% is more money than can reasonably spent by some people separate from other budget items. I would say the vacation fund is some of the guilt free spending. Being able to not save for vacation but just decide to go to Hawaii or skiing in CO because there is a good deal on a spur of a moment is guilt free spending. Some grocery shopping can be guilt free spending say getting high end beef or caviar. Wine can be guilt free spending but be included in a large grocery budget.

[@ohasumirawr]

This definitely. We make a bit more than couple #3, and 20% of our takehome is close to $6k. There's just no way we can spend that much every month. So what makes more sense for us is putting more in the savings category for vacations, home improvement, gifts, etc. Since really, that is what we would consider guilt-free spending. Like we've given my husband's parents 10k for a home renovation they needed, and I'm giving my parents 9k to remodel our ancestral home's bathrooms.

[@rebeltheharem7028]

I concur. Some people just don't care about luxury brand merchandise or displays of wealth, and that's perfectly fine. 2K a month in guilt free spending is pretty good for most people (vacation is guilt free spending). Some people just aren't materialistic and don't care about showing off wealth with luxury goods.

[@n64luke123]

I've watched a lot of your videos, as well as other fin auditor channels on here. While I appreciate all the behavioral and backstories to peoples personal finances, this format proves you can reach almost the same conclusions just looking at the numbers. I find this personally more interesting and digestible overall. Keep it up.

[@Zadnak1]

30 seconds in, and I already love the editing in this video. Great job video production team!

[@technojunkie123]

I love how you’re not afraid to call out people who save/invest too much! While that’s definitely an enviable position to be in it’s super important to use money to fund your version of a rich life rather than only your portfolio

[@srl0003]

Really enjoy this style of video. I’m definitely like the third couple who is aggressively investing. My goal is to retire early and also after being laid off during covid, I’ve gone into hyper saving mode knowing I could lose my job at any moment. Great video, thanks!

[@VivComments]

Great analysis! My only comment is that for people like #3, besides vacations and coffee, you could suggest that they look at how they want to give back as part of their rich life.

[@elmateo77]

If they have high incomes in Cali they're probably paying close to 50% in taxes, and most of that goes to welfare programs. I'd say that's giving back plenty.

[@maxsck]

Love this format it's so good!!!!! We need more of this Ramit!!!!

[@elnoraabduqadir2297]

I love this video. Simple and straightforward.

[@ramitsethi]

Glad you like it! Thanks for watching

[@tessjune88]

I love how you show that just because you make MORE money doesn’t mean you’ll know what to do with it. It’s a practice in how you build your life, finding balance and knowing what’s priority for yourself. The last CSP was fascinating and cool to see.

[@sf3413]

I was shocked when I ran the buy vs rent in my area. All my life I heard buy a house, same with my husband. We've literally lost out on hundreds of thousands buying rather than renting and investing the difference over the past 16 years. Dang!!!

[@casachenpo4370]

Great episode! Loved the multiple CSPs format and learned something different from each profile. Thanks Ramit for continuing to educate and inspire us to reach our own bigger rich life goals.

[@ExpansiveReviews]

Love this format! It’s a lot of fun to watch 😊

[@Financial_CleanUp]

Sure is! Nice to see how others are spending.

[@markfiala6730]

I like this format. The main videos I sometime want more details on spending

[@ToddVenable]

This is fantastic. Keep these types of content coming!

[@FranzGeorgFuchs-q8p]

Hi, I love your content. I just wanted to add another perspective to your take on the high saving couple. I cannot speak for them, but I also save/invest about 50% of my take-home pay. I live in a small appartment, not so much to save money, but because as a single person I do not want to spend more of my time cleaning it. I live in a university town and the uni is on the other side of the street, so this being Europe, public tranport is fantastic and having a car for one person simply is not worth the hassle. The things I like to spend my time on do not cost much in money terms and when it comes to shopping..well if I go to hell, they are going to force me go shopping all day, since there is no better way to torture me. Whether it is clothes or furniture, I just hate the process, I prefer putting my brain to more interesting stuff, I just hate it and only do it if I must. Combine this with a decently paying IT job and you end up with a 50% investment/saving rate without forcing anything. If something really improves my life, I already spend money on it, since my investment rate is way about my target range anyway. I guess, I'm just weird...

[@StephenONeil2]

I'll admit, once you're familiar with the concepts of Ramit's approach, the content feels awfully familiar. This is a helpful way to see how he would apply those principles to a variety of circumstances, and teaches me to ask better questions about my own. More of these, please!

[@supershellybelly12]

Love this format, would be great to get a reaction from the couples! Is there a video somewhere on combining couple finances? It’s mentioned a lot but I can’t find one…

[@cecilia2001]

He uploaded it 2 weeks ago

[@tpjames1312]

I enjoyed watching this so much! Looking forward to seeing more couples.

[@msbtonify]

I love this format. This part is what I pay attention to on the podcasts. Seeing other people's CSP helps me with adjusting my own CSP and hearing Ramit's feedback also helps me adjust my CSP.

[@AaronHernandez-ko6rr]

Outside of the great analysis, you are hilarious. Was cracking up on some of the commentary

[@Jupiter88844]

Do more of these videos too! I like them all 😊

[@paulinomiranda1158]

I am the head of household for family of 5 (3 adults and 2 toddlers) and we do track our grocery spending. We are spending 800-900/month depending on what we decide to cook and we have a freezer full of meat (I’m a hunter) which probably saves us probably a few thousand a year in Houston, TX. Grocery costs are insane. We shop at Aldi for about 90% of our groceries and it’s the cheapest available in the metro.

[@MooreStationery]

Loved this. Would love to see more.

[@mzcain1521]

More videos like this please!!!!!

[@adam7349]

One mistake I made was getting back into debt because I focused too much on paying off debt and less on saving. This time i am on track to pay off my debt by the end of the year and also saving $400 a month and I still have 8% in my 401K per paycheck. I just need to open up a roth IRA but I'm afraid I will fall back again in debt if I take it away from what I save per month.

[@arh1234]

Like Ramit says in this video, it's ok to save/invest just a little while you attack debt. You can open a Roth IRA as a debt-free gift to you!

[@KNRS927]

Couple 3 is either a FIRE couple at its finest, or they're living in a big city/downtown saving to buy a house full cash elsewhere once they're reached a certain amount of net worth. That would explain them trying to make as much money as possible while keeping their expenses as low as possible. That's how I would describe Couple 3 and how their fixed costs are ridiculously low. They also can manage with no cars while spending little on transportation, and that's hard to do in most US states unless you're in a big city or close to everything. That's my prediction on the last one because they're following Dave Ramsey finance.

[@mzwendylew]

The last couple reminds me of us. We underspend and invest so much and I have a hard time spending. We do take monthly vacations, but have a little travel burnout recently. I think my rich life is now pointing to buying a home and decorating it. I thoroughly enjoy design and creative home projects.

[@sabinaebay]

Looooved this !! Especially the last segment

[@Jan-mu8vm]

I really like this format in addition to the weekly Tuesday show. Right amount of background detail: ages, how many children and location, for you to provide guidance and for us as listeners to follow along. Without general location, it's challenging to understand the numbers of your subscribers sometimes.

[@francisimanuel8824]

I love it when people talk about groceries😂 As a mom with Endometriosis on a special diet with a child and husband with eczema. Guess what, everything we use matters.

[@buildingbuildercip8292]

I was couple 3 and now an older version of them. I was able to retire early as a multimillionaire. They’re definitely doing great.

[@offthetrail5675]

I relate to the last one. I could spend more but i enjoy saving and investing more then spending and i have everything i need other than time from work. Hence the planned early retirement goal.

[@JoJo-ie8sl]

800 groceries for a family of 4 in cali sounds like theyre being dilligent

[@JenniferBrooks-eq3rn]

Yep. South Texas here. Very low cost of living, family of five and we couldn’t make it through the month on $600 for groceries. Just upped it to $800. And even with that upgrade, I still plan meals, read the circular, clip coupons every week for over an hour, to make that budget work. But I’m a SAHM, so I have the time. I would say $800 in California is very diligent. I was in a Newport Beach grocery store a couple years ago and yeah, God bless y’all paying those prices.

[@dcg590]

Or lying

[@TeKnoVKNG23]

@@JenniferBrooks-eq3rn One common thing I've seen from most financial advisors/financial channels is that they are all extremely out of touch with food/grocery prices and the regional price differences on things like milk, meat, etc. due to supply chain issues. I think a lot of them are just so wealthy that a trip to the store doesn't even register to them, they can just throw whatever in the basket and it doesn't effect their bottom line, but a lot of us are being as diligent as possible and it's still a struggle to get out of the store for under $150-200 a week, especially if you have kids.

[@texaskid4444]

Do this every single week please

[@TheJakobRose]

Parents who prioritize their kids education cost over their retirement investments are hurting their kids anyways. Kids should NOT be your retirement plan!

[@jacktunasutter2635]

I live in the bay area. My house payment 1,430$. The house next door is rented for 4,000 a month

[@tessjune88]

Saving/investing for yourself as a parent IS helping your children. As a child of people who didn’t save/invest even though I know it’s not morally my responsibility, I do feel responsible to make more money to help them as they get older. I didn’t have a college fund or anything but my parents did have a very high income (between 2-300k) for a couple decades and my father never saved anything.

[@cynthiaivers1708]

Absolutely! Saving for retirement and having a great nest egg is helping your children because you won't be a burden on them when you're elderly.

[@nananananessi]

I love this type of videos from you. Please make more like this!

[@crissydv1]

I love this. Way better than other audits... You know who I'm talking about. You're the OG Ramit!

[@JessicaChungMN]

I hate the tone of other finance reviews - it feels so gross and exploitative on other channels

[@melissablakely3394]

yes, this is a great format! love it

[@michaelcrawford9425]

My wife and I are diligent about spending. I keep a spreadsheet of grocery expenses. They have gone up each month for the past 2 years. My wife and I, a family of 2, spend $1,000 per month in groceries. We are mid-thirties and eat healthy. We don't buy processed, pre-packaged food. We buy whole foods. Fresh vegetables, meats, etc. However, we were in charge of making cookies for an office party recently. One bag of chocolate chip cookies at Harris Teeter in Charlotte, NC was $8.59! Now tell me thats not inflation..come on.

[@colour-play]

This was fun to watch!

[@kristofcolumbus3008]

I love it. Go ahead Ramit!

[@wilmakl09]

More videos like this! It would be interesting to see a family like mine - a couple that will be adopting a sibling group. So lots of expenses going up but how to continue to save or invest!

[@judijudijudiii]

I love this idea!! Great video Ramit!

[@CAL-zq3dk]

Love the last couple , they sleep well at night.

[@motavice3499]

I would really love to see a playlist created of this on your KZbin channel! We love watching Caleb Hammer and this is a similar style video. Thank you

[@thewrightthings]

These were great, I would like to see all types of these using different people. Maybe a couple who isn’t married yet, single people, college students or fresh out of college, people with kids, etc Great video

[@tori-z9p]

Really great video Ramit! Enjoy it and I would love more of this content

[@chrisbaker2669]

I don’t understand why you would have both investments and credit card debt at the same time. The credit card debt could be at 20%~30% interest paying that off would be 4 times better than making 10% on your money because saving money by having no credit card is not taxed. So you could go from making 10% taxes to 30% tax free just by changing how you allocate your money.

[@mr.courtney5703]

I enjoyed this.

[@Mar6579]

Keep doing these please!

[@Mar6579]

and do one with people who like to travel.. I wanna see how someone saves for vacations, preferably a younger person 20-30's! :D

[@dawnkoplitz1825]

First he tells a family of 4 to cut back on the $800/ month on groceries and the next couple spend $700 for the two of them. I think feeding four ppl on $800/ month is doing a good job on managing that expense.

[@IAmebAdger]

Yeah, but he changes his expectations for groceries depending on whether you have credit card debt or whether you are over the percentage limits in some area, etc. as he should

[@gabriellecurboy8890]

I love this type of video!!

[@Zadnak1]

Love these videos, and I'd like to see more. However, they all usually follow the theme of: 1. Fixed costs are way to high 2. Not spending enough disposable income Certainly there are some major odd ball CSPs out there that could be reviewed. I'd like to see those. Thanks for all you and your team do!

[@susmiller3325]

Yes, more videos like this!

[@ryebread447]

At 23% for housing and that explains why i feel like I've had margin for many bumps in the road. One thing I've done right 😅

[@Stainlessautos]

3rd couple works in tech. Layoffs are high and job security is low. I totally understand their mentality on dumping 50%+ in savings and investments.

[@DannyDaCat]

Idea: Can you do a collab with YNAB (You Need A Budget) where you integrate your conscience spending plan into the app? A lot of people already have a majority of the info filled in as part of their budgeting process, would be cool to be able to hit a button and import all of that i to your plan! ❤

[@cheesepantsgaming1964]

These types of videos really help viewers understand your point of view. These are videos I can easily share with confidence because it has real life examples with numbers. I wonder how much #3 have to pay in taxes. Making money sucks around tax time.

[@strongriver7955]

This helped me to decide to put more of my money into paying my debts down each month, rather than putting it in savings and paying them off all at once. Once I pay the debts, I can take all the money I currently paying towards interest and put it away as savings.

[@kazkim9152]

For US adults who want to pay for their kids' college costs, almost no one can save enough due to the outrageous cost of a degree. Yeah, yeah, there are cheaper methods by strategizing or adjusting expectation, but too many people experience sticker shock too late. So, if the third couple has kids in their future and are saving for a house, they may not be over-saving.

[@thandonxelewa142]

Please elaborate on the difference between Term Life Insurance and Whole Life Insurance - why do you prefer the one over the other?

[@debbiemurphy5050]

Ramit- I would like to hear your take on this new concept - well it's new to me, of Velocity Banking for getting out of debt. I've been seeing videos on Velocity Banking versus debt snowball for debt relief and I would like your input on velocity banking on a future video. I enjoy watching and keep the videos coming! ☺️

[@kingsgold]

For couple 1. Partner 2 is the one working on the credit card debt they have with their low income. Partner 1 doesn’t seem to be saving or investing. Looks like both people aren’t on the same page for financial goals. Partner 1 is living life debt free with no savings or investment while partner 2 is struggling with the low income. I want to say it sounds like an unmarried couple. But I’m just hazarding a guess.

[@r.massattack4052]

It's hard when your partner comes from no money and she finds a partner that makes 3Xs there income. My partner is always trying to help there parents and struggles to understand finances

[@1pwNz0mb13Z]

For the last couple, I like the idea that you should enjoy your money while investing but if your fortunate to be happy on a low budget, that savings will buy you freedom from wage slavery. Just dont forget when its time to enjoy your nestegg!

[@Silvangreen]

#3. Hard to imagine, but some people recognize when their happiness won’t be increased by spending more money. Except travel, we have no idea what these people do for enjoyment. They may be happy jogging in the park and meeting friends for brunch. They may play guitar or even…read books!

[@womanworthywomanwise]

Ramit, will you please make a video for retirees and near retirees people? Young 60’s. How to keep our wealth and maintain around 85yo. Thank you.

[@Tenderlove36]

I love it. Let’s keep it going.

[@funshinebear1532]

"By then it's too late, they're 72 years old and they've atrophied" LMAO!

[@JD_Lakad]

Great addition to review. Very applicable to us.

[@melissabrigden125]

The third CSP, @Ramit, you talk about only two reasons for high retirement savings. I would offer a third one that I am personally working through, starting late in life for retirement I need to put more away because compounding interest will not be fast enough for the remainder of my working life.

[@totadol]

I like this video format please do more of them .. very insightful

[@johnwaller9399]

Love the video! Looking forward to future segments.

[@lumbarchumps7567]

Love the vehicle comment hahaha . It’s so frustrating especially in major cities that car culture is pedaled to most people .

[@cutebubbles2007]

Not Ramit getting triggered by the Buy vs Rent debate 😂Loved this concept Ramit! Keep it up!

[@SalweyGaming]

today i learned... need to make a quarter million per year and then exercises like this one seem silly. i was recently laid off. im not sure why these videos and the dude telling me we are months away from recession and 30% dips in the market are filling my recommended vids lately but i find them both insightful and scary af. ive always been the steward of my family's expenses and bring home 2/3 of our income, but now ive been unemployed for the last two weeks. if something doesnt go our way soon (a few months savings) its gonna be pretty rough. i remain hopeful, but.. anxious.

[@Bertuzz84]

The one thing that sticks out is that these people spend a disproportionate percentage of their income on housing. But the proportion of their income that gets spend on groceries is pretty low. Usually housing/groceries/transportation cost about the same each for us.

[@Chris_Caballero19]

Ideally what and where would you best recommend to use to start investing and what would I invest in?

[@beaglemit]

“But I need a big suv to be safe” yep, when they keep getting bigger you think you need the biggest. Endless cycle. Plus genius marketing on top of it.

[@NataliesBalletFolklorico]

Just finished the book in audiobook form, im going to get the physical book to make notes and to share with everyone at home