@Netflix’s How To Get Rich | Money For Couples Podcast | NYT Bestselling Author
Los Angeles / NYC
Joined April 2008
- Tweets41.7K
- Following902
- Followers304K
- Likes35.2K
Never ask Americans their socioeconomic class. They will always say middle class — even if they earn $750,000 PER YEAR
Examples of class & status in your daily life:
teapawt.org/ramit/status/194841130…
One of the most taboo topics in America is CLASS
Yet socioeconomic class interacts with almost every part of our existence
Consider just a few examples (what did I miss?):
- Family structure: Number of kids, multi-generational living, childcare, breastfeeding, schooling
- Finances: Use of tax-advantaged accounts, ability/willingness to plan ahead, use of debit vs. credit cards, attitudes towards debt and investments
- Living: Noise in household, TV use, pets, fitness choice
- Leisure: Media consumption, travel frequency, style, and destination
- Food: Food choice, how often they eat out, amount spent on food
Do you see how money is not simply about a budget?
Why does this hotel charge for coffee?
At the Ritz in San Francisco, they have free coffee, but less than 10 feet away, they charge $18 for a pot of coffee
Why do you think this is?
Whenever I post stories about wealthy people who can't bring themselves to spend $20 on dinner, I always get the same kind of reply: "That's how they became wealthy!"
No, restricting on a few dollars here and there is not how people built an $818,000 salary or a multi-million dollar net worth in their 30s
This delusion of frugality has to stop
Always have a plan for unexpected income!
In my 20s & 30s, my plan was:
- 75% investments
- 15% savings
- 10% pure fun
In my 40s, my plan has evolved:
- 50% travel
- 50% savings (for specific items)
Unexpected income includes raises, bonuses, IRS refunds, side income
Set your financial system up using my book (23,000+ Amazon reviews)
link.amazon/B0aVBK9eF
Wealthy people are not automatically enlightened -- they're often the same people they were before, just with more money
Going from "wealthy" to living a Rich Life takes serious internal work
New couple on my podcast today:
- Both 38, no kids
- Household income: $818,000 a year
- Net worth: $1.8 million
- Paid off $250K of debt in the last 2 months
- She saw a jean jacket she loved. $78. She didn’t buy it. “We’ve had a very expensive year"
What would you tell them?
"We’re worth $1.8M, but I feel guilty buying a $78 jacket”
youtu.be/Gx-fKvO6OjE?si=r63t…
Paul, I can fix this if you do every single thing I say
Contact my team
Ex-NBA Star Paul Pierce ‘Drowning Financially,’ Struggling to Pay Monthly Bills tmz.com/2026/10/27/paul-pier…
Once you understand that most people do not plan anything in their finances beyond next month, you will understand their behavior:
- They don't think about retirement or invest for it
- They're constantly surprised by December holiday expenses (even though they happen every year)
- They buy a car and house based on the monthly payment, then they're caught off guard by the Phantom Costs
- They buy a house because it's "the best investment" but have no idea how to turn it into money they can use
- They do not set money aside for kids, including childcare, diapers, formula, etc
- When you show them a compound interest chart, it mostly makes them feel bad
- They talk about their Rich Life as "doing what I want, when I want" or "financial freedom" -- all things years from now in the distant future with no connection to their behavior today
A lot of bad financial behavior is downstream of the inability to plan beyond next month
You can build the skill of planning ahead -- first, planning 3 months ahead, then 6 months, and eventually 30 years. It is a skill!
Here's the scenario. What would you do?
45 & 47 years old
Income: $143K
Credit card debt: $96,179
Fixed costs: 102% of take-home pay
Savings: $0 ("I’m worried we will be homeless")
Groceries: $3K/month (“We eat like we’re at a restaurant...every night")
Kids: 2 under 7 years old
These real numbers are part of a conversation on my podcast with Freya & Blake. Episode below.
Ramit Sethi retweeted
ain't no way
NEW YORK (AP) — A long-retired New York City police detective was arrested Wednesday in the road rage killing of a motorist on the George Washington Bridge, police said.
apnews.com/article/george-wa…
