How To Get Rich Feat. Ramit Sethi | Executive Exchange
Переглядів 27,959
День томуOn the premiere episode of Executive Exchange, senior editor and host Ruth Umoh sits down with personal finance guru Ramit Sethi in our Fortune studios to discuss how he was able to achieve self-made millionaire status (Hint: He invested early in Amazon), his hate for Robinhood, and how he wound up hosting his own Netflix show titled, "How To Get Rich."
Ramit is also the author of the 2009 New York Times bestseller, "I Will Teach You To Be Rich," and podcast host with the same moniker. His money advice may be seen as a bit new age, rather than not spending money on a latte or avocado toast, Ramit encourages people to live their rich life and think critically about the things you purchase in your life that will make you happy.
Ramit dives deep on why he personally rents instead of owns a home and breaks down the cost of when it's the right time to buy a house. He advises that total housing costs should be less than 28% of your gross income.
Ramit also says that 90+% of people do not need a financial advisor, but he does relate to managing money as parenting your kids. He says it affects where we live, what we eat, and who we are as a people. Even saying that money is a political topic, whether you agree with that or not.
00:00 - This Is Ramit Sethi
00:47 - Ramit's Path To Self-Made Millionaire Status
02:13 - Financial Wisdom From Parents
03:34 - Output To Get Rich
04:32 - What Is A Rich Life?
06:15 - People's Perception Of A Rich Life
07:32 - Navigating A Rich Life
08:59 - Conscious Spending
11:29 - Cutting Money Ruthlessly
14:12 - Preferred Ratio Of Buying A House
16:31 - Tips To Save Money
18:16 - Young Investing Story
20:23 - Hate For Robinhood
22:33 - Down On Crypto
23:36 - When To Use Financial Advisors
27:03 - Buying Vs. Renting
33:28 - Having The Means To Buy A House
36:13 - Phantom Car Costs
37:47 - Inflation Impact
40:18 - Buying Power
40:59 - Financial Planning For Ramit's Wedding
43:32 - When To Talk Finances With Your Partner
45:45 - Fun Funds
47:08 - Rich Life Review
49:13 - Callout To How To Get Rich
49:44 - Rapid Fire Questions
51:38 - Looking At Money As Safety
52:28 - Outro
Subscribe to Fortune -
ukposts.info_c...
Fortune Magazine is a global leader in business journalism with 55 million monthly page views and a readership of nearly 32 million, with major franchises including the Fortune 500 and the Fortune 100 Best Companies to Work For. The new Fortune video channel dives into personal stories from business owners and entrepreneurs becoming successful in business and sharing their tips to help you reach your goals.
Website: fortune.com/
Facebook: / fortunemagazine
Twitter: / fortunemagazine
TikTok: / fortune
#ramitsethi #howtogetrich #podcast
@himanshimehta9687 7 місяців тому
I think this was a great interview, loved the questions, and the nuances addressed! The interviewer was very articulate and engaging!
@teen7034 Місяць тому
Ramit gives excellent advice. Thank you.
@candecarro 4 місяці тому
This is such a terrific interview! She hits all Ramit’s important points! Near the end I hear “opportunity costs”: If I just paid $450,000 cash for a house I’ve been renting for more than 3 years @ $2500/mo (it’s not my primary residence), I’m losing $1500 in interest on that money; add property taxes and maintenance (insurance & utilities didn’t change) and I’m at break even. But now, if I choose to, I can paint, I can get a roommate, I can get a pet, I can park my boat in the driveway, or I can rent it out when I’m not there. IT’s MINE and I love that feeling!
@lovelyyoori4265 6 місяців тому
Ramit is a sage
@RyanHawk Місяць тому
Great talk. Ramit knows his stuff!
@carolannstevens5814 5 місяців тому
Great interview!!!
@Sabirnooralamjutt 7 місяців тому
Nice video❤
@heatherm2428 3 місяці тому
Remi did awesome - this interviewer seems privileged.
@AmanSS890 5 місяців тому
People dont know how money really works. Most people look at debt as a bad thing but if i teal you most rich people have millions in good debt like apartment rentals or a nother form of business that gives them cashflow monmth after month people wont understand. I tried explaning how rich people get rich to some one they looked at me like i was crazy. most people think they cant become wealthy then if thats what you are telling your self thats whats going to happen . when you say yes i can become wealthy you start looking for ways to become wealthy. can be rental properties, or a business like owning a franchies selling a product. you need to change the why you see money. money is just a tool thats it.,
@f25mart Місяць тому
Why doesn't he ever explain how he actually made his first million at an early age? He essentially dodges the question and goes into his usual platitudes. Was it earned by compounding interest? Book sales? Inheritance? A sale? Real estate?
@JUSTBEINGHONEST47 4 місяці тому
How to get rich…… come up with a plan and work hard….. bam
@rafaelalba0910 3 місяці тому
Haha 😂 medium salsa!
@jennifermoffitt4635 6 місяців тому
Ramit thinks everyone has weddings haha
@gaganb1159 6 місяців тому
U guys need to go easy on advertisements😊
@candecarro 4 місяці тому
UKposts Premium. NO ads.
@Rashaadthegr8 6 місяців тому
But an hourly fee is same as the 3%. if I charge you $100 HOUR or if 3% is 100 they still going to make sure they make the same if not more money.
@DonBrownII 6 місяців тому
an hourly fee is not the same as a financial advisor charging a percentage of your earnings, in perpetuity, until the end of time (which is what they actually do).
@Rashaadthegr8 6 місяців тому
@@DonBrownII You not getting my point. Most people don't even have money for financial advising because they have a negative net worth. Second, I didn't say it was. Nobody is going to ask a financial advisor for one hour of their time and leave and become rich. One hour of advice is not going to do much. There are people who actually went to school for this and worth the percentage. If your teeth are jacked do you do it yourself or go to a dentist? If you got in serious legal trouble will you defend yourself or pay for a lawyer? Exactly. But when it comes to money every swears they got it handled when the truth is 70% of Americans are living paycheck to paycheck and 80% of Americans are in debt.
@DonBrownII 6 місяців тому
1st question: so are you saying that a person should not even look into having a financial advisor until he/she has a positive net worth? @@Rashaadthegr8
@DonBrownII 6 місяців тому
usually I agree with the concept that you should always give credence to those who have gone to school and studied professional disciplines such as those related to finance. @Rashaadthegr8 However, I must also consider that some of the ppl who went to school for finances are some of the same ppl who are on Wall Street ripping the average person off, or selling ppl bad financial products. so in this instance, I don't think it's as "black&white" as trusting those who went to school for it and denouncing those who didn't. The truth of the matter is that you shouldn't even need a financial degree in order to understand your own personal finances enough to save money or build wealth.
@PM-tf9hi 6 місяців тому
The interviewer needs lessons on maturity and asking questions with some basic EQ, nanny is not out sourcing parenting.
@Rashaadthegr8 7 місяців тому
I don't agree with alot of this if you 30+ you need to talk about fiances BEFORE the first date it saves so much time, money, and energy especially if you're a man.
@omni1562 4 місяці тому
It totally kills the romance though
@Rashaadthegr8 4 місяці тому
@@omni1562 what romance? it's BEFORE dating anyways.
@atimnile2401 Місяць тому
I think ideally ; you should wait until 6 months ; & then talk about Money 💰. By then the Relationship is well established & you know where it’s headed !!
@Rashaadthegr8 Місяць тому
@@atimnile2401 I'm glad u got 6 months to waste not me. I learned from the recession and pandemic even more to never waste time.
@jennifermoffitt4635 6 місяців тому
Things aren't quite good for average people .... and i don't like either political party --
@thesoundofeverything8023 6 місяців тому
He never answer anything… he goes left, right, around…and nothing😂 he does not lie…just…doesn’t answer😂
@DonBrownII 6 місяців тому
because things are more complex than simple black and white answers. Everyone's answers will be different, and he cant speak to everyone's personal situations. Thats how ppl wind up getting led astray, listening to specific theories being sold to ppl as broad catch-all solutions on social media. Take his answers, add your personal situation as a filter, and apply to your life.
@vivih.114 4 місяці тому
What a terrible interviewer!! She missed the mark big time.
Tom Bilyeu
Переглядів 417 тис.
5 канал
Переглядів 899 тис.
The Mark Divine Show
Переглядів 32 тис.
Tom Bilyeu
Переглядів 511 тис.
NRI Money Clinic
Переглядів 693 тис.
Netflix Host of How to Get Rich, Ramit Sethi, shares the 4 #s you must see & how to live a rich life
Jason Tartick
Переглядів 6 тис.