About a year ago, I commented on one of your posts saying I would comment a year later after I paid off all my debts. Well today marks a year and I am DONE! Thanks Ramit.
Trust me guys, this methodology really works. We live in Seattle, drive a used car, and live in a modest home. We’ve propelled our net worth simply by saving on cars and housing. My friends and family consistently ask me why we don’t buy a nicer car and home. I should respond by sending them this UA-cam link 😊
Seattle resident here too, it’s out of control. The opportunity cost for owning atm is too high, especially when you consider amortization. Don’t let peer pressure change this mindset. Literally everyone I know who bought a house has drastically changed their lifestyle (no travel, no going out, etc)
Greetings from South King County! I found a 2BR condo for under $200k and at an interest rate below 3% in 2021 and I jumped at the chance. My mortgage, escrow, HOA and amount I’m paying on a 0% interest line of credit through my contractor for a new furnace and HW heater combined is just shy of $1600 per month. Car and student loans are paid off, and I make just over $100k. I’m contributing 15% in my Roth 401(k), maxing out my Roth IRA and HSA, saving an additional $200 per paycheck and investing $300 per paycheck and being mindful of my spending. I live on 45% of my post-tax income, and I’m doing everything that I want to do with my life, as well as know that I have financial security with my savings and investments. Keeping it simple has been the way to go for me with a few select indulgences (concerts and fan conventions mostly) during the year.
@@thesaifmustafaI’m in South King County, and when I bought, owning was cheaper than renting by a long shot. It still is for me. But now? You are absolutely right. I live a simple life, save and invest the majority of my income and make sure I save for the things I want to do the most (concerts, travel, fan conventions other than ECCC). I live a rich life as a result. Even though I’m saving money like crazy, I still worry whether or not I’ll have enough to retire, but when every simulation says I do and by watching Ramit’s podcasts, I’m working through those fears and feeling better about my future.
@@thesaifmustafabingo. It pains me to see my friends literally lighting their money on fire with their $10,000 mortgages at 7.1% interest. I refuse to participate in this rat race and will happily stay put with my modest mortgage, shitty car, and giant investment portfolios!
My peers "feel sorry" for me not owning a home at 36 but they have no idea that I'm only spending about 15% of my gross income on rent whereas they're drowning trying to afford their mortgage and ongoing repairs. I'm investing AND saving money and it feels amazing.
That low of rent makes me think you rent from an individual not a corporation. Renting from an individual is great until they decide to sell and you have to move and rent at market rate, or they pass away unexpectedly and their estate has to sell.
Yeah the mass is like lemmings, they feel sorry or baffle that in my mid 40s with a family I refuse to buy in overprice place like SoCal while people are tripping over themselves buying million dollar crapshack. While they cast their contempt towards my decision, I often wonder how many of these people actually have a million dollar liquid like I do and how many are house poor trying to keep up with the Jones
I found Dave Ramsey first, a year ago. Now I found you a few weeks ago. You create so much more value with your content as you go sooo much deeper and don‘t just scratch the surface. Keep it up, I‘ll be a life time follower!
You should also check out George Kamel, he gets into the deeper understanding of Dave's philosophy. It's hard for the Ramsey show to do that when they are always talking to people calling in with their problems
I had a very old car and need to buy a used one so because I didn’t have a car payment I took $400 and pretended like I had a car payment and paid that to my savings every month. I saved enough to buy my used car with cash And now again, don’t have a car payment. But what I have stopped doing is adding that money to my savings every month. I love these rules and I love your way of thinking. Thank you for sharing.
That's awesome! I have a car sub-savings account so am doing something similar: I have an older car, runs great (still has another 100k miles left in it's life if all goes well), and I put money aside every month for those once a year things that come up for the car. (Car repairs/costs are still half of what they would be with a new-to-me car payment so I don't mind the maintenance/upkeep.) I save each month for the once every two years registration renewal, the inspection, and insurance so all the car things are taken care of. Each year I increase the savings rate a bit, and it makes a big difference.
I have about 3 months left on my car loan and I've been thinking I'll do the same. Its a pretty small payment, but I might just make that amount my monthly budget for car maintenance and make it a rolling budget line, so if its not used one month the next month I'll have $160 and so on. Its a little silly because I do have a savings bucket for a future car, but its already funded really, so I guess its more about gameifying having the car paid off and reminding myself that buying a new car just for the sake of having something shiny and new is not worth it at all.
I invested into a brevelle espresso machine for 800 dollars. I was buying coffee 1 to 2 times a day. 7 years later I've saved estimated 16k and never bought coffee again since mine just taste so much better. That 16k I invested into my Roth IRA. Which has given me a good boost to my future all from choosing not to buy coffee everyday. It's crazy how compounding can work for you or against you.
Just learnt few ways productivity can be managed, Appreciate the sense of detailed content...Everything can be made easier although a lot of ways to gamble on productivity has made it tough, It's so common that to some extent you have to participate at least attempt to get ahead and hopefully secure a comfortable retirement. Money sitting in the bank does not grow, money not invested well can be unproductive
Could be anything, real estates, stocks, bonds, anything... Just make sure you just don't buy anything but something you've looked into properly and objectively... If you don't have the time, you could use an F.A or realtor or any expert there... For me, it was stocks because it was the cheapest to get into. I have made up to 400,000 in profits with a guide, There are more options these days..
Totally agree on using a guide, but where do one even find a good F.A ? I'm ready to get serious about expending, but the options out there are overwhelming
European here living in the US, it blows me away how often I see people here paying others to do home maintenance when they could save a ton of money by learning how to do it themselves. It costs me my time, and perhaps my sanity. Fitting a kitchen, hanging doors, laying flooring, painting the house, even simple yard work - trimming bushes, cutting the grass. Skills that can be learned. Once you know it, you have that skill for life.
I live in the UK. My husband bought a secondhand car with £3500 cash. After we welcomed our baby last year, he wanted to change to a SUV, but I refused. I'm happy to report that we are still driving that old car and not intending to change car anytime soon 😊
I would like to argue with this logic :) ofc if it suits u and I hope everything is well and all, but when it comes to family and especially a child, SAFETY first. Not investing into safety, because of greed - cuz everyone here wants to be a freaking millionaire, which is cool and all - is not a great move. On the roads you can never ever influence other drivers, and having a drunk or not even drunk just some stupid driver kill you and your whole family is not really cool - OFC I DO NOT WISH ANYTHING BAD!!! I hope this never happens, but suddenly in my area it happens quite a lot. Modern safe cars are important if you can afford them, doesnt have to be a mercedes. Can be used but a 3500 shitbox is nothing, just a coffin on wheels. Also I think these kind of "videos" or "mentors" has to be taken with a grain of salt. They r selling a dream, to all of you - for guidelines and selfreflection is good, but not living even one bit so you could have money when you lost everything else (meaning health, youth, motivation etc) is not a way to live life. I hope you are not offended by a different point of view on this matter :) have a nice day
@nikooovisuals5112 the fuck are you talking about my guy? I was literally looking at used cars for a few minutes, near me there's a 2017 mazda mx 5 for 2.7k, never failed an Mot and only has 25k miles... you're telling me that a fkn 2017 mazda mx 5 is a shit box? And then a have a colleague that wants to buy a shitty little honda for 13 grand used from a dealership paying monthly... spending little money doesn't mean the car is unsafe, old, unreliable or "a coffin on wheels" it just means you're not dumb and following the stupid societal trap of buying brand new cars for absolutely no reason, just purely to show off. When chances are, your brand new car that cost you 50 grand is in fact the shit box.
@@nikooovisuals5112 SUV's are a stain on the roads though. If you live in even a moderately built up city, there is no need to drive an SUV when you are never even looking at an off-road area. So many deaths are due to a pedestrian being hit by the front of an SUV and going under the car. Most if not all modern cars are safe enough for passengers, no need to drive round a tank in comparison.
@@kylekyle2445 agreed and i do not say that you have to buy an SUV, but a decent size modern car, cause older cars might have been safe enough back when they were made, they do not cut it now.
@@nikooovisuals5112 You don’t buy a suv over the car you have now because it’s more safe suvs aren’t even noticeably more safe in a car crash vs a sedan not enough to where it’s a sensible choice. Wanting to get rich is not being greedy i don’t know where you attached to that mindset at but it’s not true. Same type of mindset is all rich people are evil and need to be controlled and punished. While this man in particular is selling a product his product is already viewed and held high in readers mind not some book nobody has heard of and is expensive. He also gives you a video full of true information nothing behind a book paywall. Second his information he preaches is basic and taught everywhere from people who read finance a lot to degree holders to 70 year old finance Guinness to UA-camrs who can copy what others say word for word and still be correct. If he was misinforming others it would be totally different situation. There is a difference between being frugal and sacrificing everything to save. He is preaching simple saving and investing not complete life altering things he even says the 5 dollar everyday coffee aren’t making a big difference which is the first thing frugal people will preach. You need to stop reading whatever negative news that fear mongers these negative extreme ideas to you.
Me and my wife are living in South Africa and when it comes to car payments we have zero. It's been five years now and we're living our rich life. Being debt free is amazing and we are loving it.
We just made our last car payment on my wife's Jeep our payment was $778mo with a 10.80% interest rate we paid it off a little over a year EARLY because we always paid between $800 to $1500 a month to get rid of it. NEVER AGAIN will we have a car loan from here on out its cash only.
Mistakes are too many at this point. Been pretty financially illiterate my whole life and don't have parents that taught me about finances (not an excuse but does't help either), took out a mountain of student loans for grad school and got diagnosed with cancer during grad school, haven't started investing much in general or for retirement yet, it's been a rough go. All that said, I am really trying to learn more this year and take more accountability. Your videos started popping up on my YT feed a couple months ago which have been helpful.
I was eager to become a home owner now I found you and learned so much I need to be more patient because I got enough on my plate. The only mistake I have done was getting an expensive car but I said I’m going to pay it in last than 2years. I’ll be back here in the next six months to testimony. Thank you so much 😇😇😇😇
I got rid of my car and it was the BEST decision I could have made. I don't have to spend any money or time getting it washed, no services, no insurance, etc. I end up saving close to $6,000 Australian dollars each year. And whenever I need a car, I just rent one or get an Uber. And probably spend only $1,000 a year doing this. 😀
I work in midtown Manhattan, single mom with 3 kids, making $117,000 per year. I own a coop, spacious with 2 bedrooms, garden style 2-story buildings, no headaches about maintenance outside my front door, greenery and flowers all around. Great neighborhood, great schools, commute to work is 45 minutes. I could NEVER afford to pay rent in the city, but as a home owner, I pay $1,500 plus PSE&G. No debt, it's perfect. A different take on home ownership.
Reading your book and watching your content has seriously helped me get over the FOMO of buying a house and wanting a new car even though mine is 10 years old and has been paid off for years. I just keep reminding myself to think of those things as purchases and not investments and continue to get ahead by actually investing!
I used to fully believe I “needed” to own a home. I was happy and single living in an apartment, but bought a fixer-upper foreclosure home in 2008. That house basically needed to be gutted and fully renovated, and when I sold it I didn’t feel like I made money on the renovations. Owned a single family home for around 8 years after that - nothing but stress and maintenance. I remember the constant worry that something else would break, paying the costs of maintaining a well and septic system, and investing in upgrades that didn’t pay off. Fast forward to 2022, sold the house and made a huge profit. I now have people constantly telling me I “need” to buy a house. No. I save, I invest, and I rent - and I don’t think any of the houses on the market are a good deal anymore. I no longer have to worry about repairs and maintenance, and that alone is worth the money I’m supposedly “losing” by not owning (I’m still not convinced - home ownership is a money pit).
Im planning on selling my house of 8 years in 2025, everyone tells me to keep it or rent it etc but I ran the numbers and its costing me too much in repairs, interest, and most importantly my damn time! The profit I'm projecting to make could change my life once I invest it.
I'm a 61, single, a widower, living alone. I sold my two real estate properties (in 2021 and 2024), invested the money in stocks, and live on rent in a brand new high quality apartment on the 17th floor, with a fantastic view. I made sure to rent where the balance of power is in the hands of the tenant. I'm lovin' seeing my net worth gallop, while I have stopped noting the price of everything. I just spend without being reckless and stupid. The chapter on "Conscious Spending" in Ramit's book, was an eye opener. Thank you Ramit!
My net worth surpassed 1 mil this year. I drive a car with 410,000 miles on it, but don't really budget. I just won't spend 800 a month on a car payment. I've been investing since 22 years old and am self employed. I'm 40 years old, and hoping my account grows to somewhere close to what I can retire with at 50, should I need to do so. I hope by then to start or purchase a small business, so that I don't need to work as hard (physically) myself.
One strategy I have for keeping old cars is making upgrades like new head unit with all the modern features, etc. It doesn't hurt that I do my own maintenance, but even if you don't a few hundred bucks is far cheaper than the new car note, depreciation, increase in insurance, etc. and will keep you from wanting to get the new car.
looking back, my dad was totally bang on when he said never allocate more money to depreciating assets (vehicles) than to investing and the new car smell is your money on fire.
Great to hear someone point out housing is always a cost - whenever I say this on reddit or facebook and that bigger the house the poorer you will be and that you need to calculate rent vs but cost before buying, I get 500 down votes and called an idiot.
I agree with you. I did this exercise thrice in my life. Boca Raton, FL, Memphis, TN and Portland, OR. It made full sense to buy the house in TN for the price and cost of ownership at that time. Right now, we are renting.
I can tell you as a first time home buyer it's so easy to get in over your head and try and qualify for as much loan as you can and buy as much house as you can. My mortgage payment is dirt cheap but I remember trying to qualify for as much as possible when buying. Stick to what you can afford. Also assume your payment will always go up cause of tax and insurance. It'll only drop off when the mortgage is paid.
Ramit amazing work as always! You’ve changed my life. But please I would love a chapter towards college students (with and without debt) & where rent is over half of income. I have family with old time mindset where they focus on saving money but not growing it or creating proper budgets.
Currently my student loans are the single biggest purchase I’ve ever made 😅 I made that decision when I was 17. Wild. I’m 30 now and have 37k left. Started with 110k. Maybe one day I can buy a house and maybe even have a family. Wouldn’t that be nice! I’ll be saving for my children’s college. ❤
I dont think college will be relevant in your children time. It is crazy to pay taxes and still have to pay college. Where I live the government pays me 600 dollars a month to be in a college (all universities are free private and public). I live in Sweden
Great to have a reminder of this stuff. My rich life involves owning a house but I paid an almost 50% deposit on a cheap house in the town over from where I wanted to be so that my mortgage + extras come out as way less than renting in the original town. Invest the difference and I'm happy able to do things to my place and have pets without asking for permission
A similar story,: bought some propoerty in an area, where I could not afford to rent it (would pay 3-4 times more than our mortgage payments were), saved money and payed everything off decades earlier than scheduled. So Ramit's rule should add: think very carefully about possible scenarios/outcomes, career plans, potential risks etc in addition to running the numbers.. Yes, there will be maintenance costs, both regular and bigger ones, but...still cheaper than renting in long term.
Right after my divorce the bank said I could afford a $300,000 house. My father said I could afford $150,000 house, so glad I went with dad’s advice. I’ve never been house poor, even when I lost my job and took a serious cut and pay.
True, the mortgage is just the tip of the iceberg in home ownership. But when you rent you’re paying for their mortgage, upkeep, repairs, taxes, insurance, and their profit. I would say the power of renting is you now have your weekends free to live life, not mowing or draining the waterheater, picking weeds, etc.
That is IF they make a profit. Believe it or not, but sometimes landlords don't make money, they're lucky if they break even, especially if it's an individual and not a corporation that is the landlord.
@@rafizxDx tbf im a landlord and i pay Up a few hundred bucks each month, my profit comes when i sell the building again. Its Just that the rent pays Like 3/4 and i pay 1/4 off of the credit.
I really appreciate this video and this channel. About a year and a half ago I purchased a house for the first time. I wanted a big house but I bought a small house that was less money. And it's hard going to friends and family houses that are sooo much bigger and nicer than mine. The truth is I love my small house. I feel grateful to have a house but, it is rough having less when so many folks have homes twice the size and their homes are updated and gorgeous! I just keep my head up and keep trying...
Years ago, I lived in a smaller town that despite its size was car centric. One day, I passed a parked car that can only be described as a beater. The rear license plate frame read: "Don't laugh, it's paid for" A lot of wisdom in that brief saying. When my husband and I were out, he used to wonder how people could afford luxury high end cars. I had to remind him an expensive car was not necessarily indicative of a fat bank or investment account. You're doing great. You are happy with what you have. No price can be placed on gratitude and knowing for oneself what is enough.
In the past few months I starting going crazy on saving and investing. It took me selling a rental property for 144k net profits with all of that money going towards paying off a 92k truck and a 70k Tesla to understand the value of the dollar again. The payments were killing me and just like you said, all I considered at the time was that monthly payment. Now I turned it around saving 30k HYSA and investing over $5k a month in hopes to pay off my house in the next 6 years. I am buckling tf down on my finances. Thank you. Just grabbed a copy of your book to help aid me thru this!
I started working on my credit 2 years ago. I didn't know where to start I had no credit. I started looking up videos and found *_Pecuniary backdoors_* . I followed what you said and started with an secured credit card for 200.00 and mad sure to keep my utilization under 10% and paid on time every month. I now have 3 unsecured credit cards and a 757 fico score. Thank Danielle for all the information and tips. Now we are in a position to buy
Bought a car yesterday dealer tried to add $4900 in aftermarket products and told me they couldn’t be removed. Told them I was walking twice and they removed it. I can’t imagine how many ppl just allow that extra charge bc they can afford the monthly payment.
yeah its also a boundary issue too. so many people don't have enough assertiveness to upset or challenge people and they suffer financially because of it. you really had the confidence to not only tell them what would happen if they didn't treat you how you wanted to be treated(like a boundary) but walked twice showing them that the third time you would be somewhere else and they would be spending the next days wishing they had made some commission lol great work
Same thing happened to me last year, except I was showing my son how not to be suckered (his first car). Car dealer refused to take those unnecessary charges off and we were writing a check for the total amount too. I told the dealer it’s his loss and that I would get what I wanted somewhere else. I also told him I would drive by and let him know too. My son and I left and went over to the next town, bought the same car and paid the price we wanted too. I know it was petty but I did drive my butt back over to that dealer with my total paper in hand and let him know the next day. He looked irritated too😂😂😂😂. I really believe he thought that since I was a woman I didn’t know what I was talking about. It was a great lesson for my son too: pay in cash, learn to say no and be willing to walk away
Good advice for people at different levels of the financial spectrum. My personal favorite is to keep things simple- and as a result, consistent. The people telling you to skip coffee are telling you nonsense. My only issues were 1. The comment about a budget 2. The AUM fee.(this one less so.) A budget let’s you make informed decisions
Wonderful, just wonderful. Truth must be sought beyond whatever social baggage you are carrying and must let go of. Forward momentum is accelerated in crystal clear vision. *Pecuniary backdoors* dropped serious knowledge. My credit presently runs from good to excellent, but I want from excellent to most excellent. I hear that this is the way to do it. I love the whole precision of this methodology. Here is power. Thank you.
Covid hit, and in April/May 2020 I was sitting in Starbucks' drive-through for 30-45 minutes most days. What a waste. I built a spreadsheet to determine how quickly a good (not cheap, but not $2000 either) espresso machine would pay itself off. (~6 months) Went out, bought the machine, in about five tries was making better-than-Starbucks lattes and mochas for 1/5th the cost, the machine paid for itself, I got 30-60 minutes back, didn't have to leave home, and then PUT THE SAVINGS IN COFFEE toward consumer debt. (Oh, and coffee beans aren't taxed GST in Canada like drinks at a coffee shop are, so there's even more savings.) Win win win. Better coffee, less time wasted, paid down debt. Now I only go to coffee shops on a Saturday as a treat to get out and sit on a patio with coffee (which I do on work days, but it's my deck). That's the Rich Life Ramit is talking about.
@@mistydavis4746Breville Barista Express. In 2020, typically cost CDN$800, but I got it on sale for $600. I saw it at Canadian Tire two weeks ago for $1100. Yikes.
I found my own personal sweet spot for coffee. I reduced the amount and stopped getting pastries with it. What I found during the process was that I wasn't enjoying big coffees because of the dehydration. And I wasn't energised from the pastries long term. So I've saved some money there but am enjoying the coffee more than ever before.
I really hate the argument that "1 million would only be worth 600k in 40 years due to inflation" First of all, shut up. Second of all, that's still 600k? Do you not want 600k??
the 7% return Ramit assumes is a real rate of return that already factors in inflation (10% nominal return - 3% inflation). so it’s really about $3 million nominal after 40 years = $1 million real
@@fatlife1905 where do you live and how long is this "lately" period? in most countries in the West, inflation went crazy high two-three years ago, but it actually didn't stay there as long as media and many doomsayers would have you think
I bought my house at 175k two years ago and now that I am planning to move I wish I had rented because of the hassle and the amount of money I lose by paying the taxes involved and the real state agency. Thank you ramit because thanks to your input I think my next move is going to be investing the money I get from the sell (index funds I started invested in in 2021) and go rent somewhere! My rich live involves wanting to move every now and then and I thought by buying a house I would push myself to stay somewhere… but guess what! No. 😅
I love the content and wish I’d acted in this type of information decades ago. I’m 53 and beyond underwater now. May not be hope for me to live my rich life until I die, but I am 100% sharing this information with my kids so their lives will be different!!!
If they're in a decent place now and act on Ramit's teachings, who knows, they might be retiring you, offering you an in law apartment, and taking you on vacations in a few years!
For me I like investing in the stock market. I'm not interested in investing in real estate. I used to really think about doing it, but I am put off. With interest rates, paying fees to lawyers, the repairs, maintenance and also you can get tenants that wreck your property or refuse to pay rent. I find it's just easier to dollar cost average every week into my share's portfolio. Because I know that the stock market is volatile, I ensure that I diversify my portfolio in different sectors. Plus, I have a couple of etfs.
I actually quit buying a morning cup of coffee.. I make it at home instead and invest the difference automatically. After 6 months, my "coffee fund" is up to about $690. That is not going to make a difference in my life. But it is fun to watch.
My simple pleasures in life are coffee, naps, and listening to Ramit shit on stupid big trucks and how wasteful they are. I hate them so much. Keep preaching the good word Ramit!
I listened to his advice 11 years ago and I bought a smaller house (265k) and paid it off in 6 years and it was a 10 year mortgage so i paid very little interest. But a lot of sacrifices.
Thanks for these videos Ramit, your perspective on money is rare in the UA-cam space currently, and it's refreshing! You always make me think more about things I never would've thought about before.
I made the "radical" choice to not own a car. Because I live in a high cost of living area, that means I have public transportation all around me. Even though I have the cash to go buy a car free and clear, none of my friends seem to understand that I am also saving on not paying all the phantom costs associated with car ownership. I take what I would be paying in those phantom costs, and invest it in my 401K.
You mentioned cutting your own hair like it’s a joke but I seriously do it lol. I keep it short so it’s cut every two weeks. Which is like 100$ a month. But I mostly do it cause I hate hate hate going to a barber and wasting the time too. So it’s a time and money saver for me.
I do the same. I absolutely LOATHE going to the salon. I would get a little depressed when I realized my hair needed a cut, that's how much I hated going to the salon. Took me years to realize there's no law that requires me to go to the salon. I now have a haircut I can maintain myself and I invest the money I used to spend at the salon.
100% with you. Finding someone to cut curly hair correctly is a pain where I live, plus I’d have to literally spend hours in a salon. It’s just less of a headache to do it myself.
I made all of those mistakes. Good that I figured it out early. A few examples - paid off our 30-year mortgage in 7 years, able to pay kids’ colleges and help with weddings and most importantly, buy wifey a new Chanel purse annually.
As a former homeowner (long story, job related) the +50% phantom house payment is more than accurate. BUT...with rising insurance and taxes, keep that amount to 28% or less of net pay, not gross. You may have to wait longer, but you may thank me in 10 years.
Socrates once said, "I cannot teach anybody anything. I can only make them think." Ramit is embodying this philosophy today. Thank you so much for your amazing input!
This is why my partner and I are moving to a low cost smaller town with expected growth to buy our first house. Our HH base income is 115k. We plan to by a house for 300-330k. Hoping to put 20% down. Our mortgage will be 1500 to 1800 a month plus accounting for extra costs for 750-850. The house will be tiny in a quiet little town but I get to decorate, paint, garden and have some land/physical asset
Very VERY well informative video, I am 22 years old and love watching financial videos. Everything said here was so accurate, I love how you keep it real with looking at the bigger picture than focusing on the pennies from the credit cards. I learned a lot from all the examples you gave, thank you for helping me prepare for my future!!!
he's right. so far this year i was able to save a little over 20k i would have more but sometimes i fall back into old habits buying things i don't need. at the end of the day i am my biggest enemy when it comes to building wealth
Out of everything on this video. I appreciate the encouragement that you gave halfway through. Just because I'm 38 and not 20 doesn't mean to give up. I just have to start now and try harder. I was starting to regret and feel down that I have little to nothing saved. Knowing now that if I just try a little bit harder. I'll have a good run at this and a good life. 😊
I would probably take the 1 million dollar bet, and hope that in Ramit's porfolio, he has shares of a fund that owns shares of company that is a corporate real estate company, and ergo, is a proxy owner of rental property, because he owns a fund that owns shares of a company that owns rental property, making him a land lord by indirect proxy, which STILL COUNTS!
Hey Ramit, your videos are very helpful and educational, keep up with the excellent work. I know most people struggle just to save some money but one thing that I don't have a very clear picture is when or if I should touch your invested money before retirement. Some people say that you could take up to 4% of your money invested every year and your total money invested would "never" go down. So let's say one of my goals is not having to worry about shelter anymore. If I have 600k in investments, I could in theory start taking 2k per month to pay rent and live for "free". Of course there would be taxes and everything but you probably got my point. Should a person do this or keep investing until they retire and their income starts fall? I think reaching that milestone and just be able think "hey if I want to, I don't need to pay rent anymore" sounds very appealing. Thanks!
I'd like to see a video on homebuying. Not just what you can afford, but specifically where to park the 20% downpayment as you save up. I'd like to see a discussion of if you are buying within 1yr, 2 years, 2-5 years, and 5+ years. HYSA, vs treasury bills, vs Passive Index Fund (low expense ratio 0.015) that tracks S&P, etc. The risks associated with each, the opportunity cost of going with one over the other, and so on.
High yield savings account and done (in rare cases, if you're not planning on buying for 10+ years, you might invest it.) Just set up a savings account, automate it, and move on. This is a decision that people really get stuck on, but it can be decided and automated in less than an hour.
This is why I’m glad I’m a member of AARP. My homeowners premium dropped by almost HALF by getting insurance through them and their partner: The Hartford.
In FL, the phantom cost of 50% might even be too low. Property taxes, HOA fees, and Homeowner's insurance can easily be 50% already depending on location. And that's neglecting closing costs, maintenance, etc. With that being said, there's a difference between renting because one can't afford to buy and also doesn't have money left to invest vs. making a calculated decision to rent and invest in something else. Sadly, many are in the first boat.
When we bought our first house we had lived overseas for a few years prior and didn't have the required paperwork. We had to put down 20%, which was painful to get together at the time, but because of that we have enjoyed our home for many years without struggle.
Hi Ramit! Love your channel and am learning a lot. I am a teacher (30 years) and use your channel to help teach my student teachers about investing (no - I don't teach finance, I teach elementary Art! investing knowledge is just a bonus my student teachers get when they work with me;) In any case - about the hot topic of buying a house.... When you say "run the numbers" and you can't understand why people don't - it is because they don't know how. What numbers?! You flew through it in this video, but honestly - this is a topic that requires its own video. Please make a step by step video on this very topic!!! That would be SO SO SOOO helpful!
I drove my first car in my dad's name and later went to get a truck in mine after I paid off my first one and drove off the lot with the truck I wanted, its mostly about a good credit score and a loan portfolio helps as well...lenders like to see various forms of loans in your name to be less of a risk and yes you might have to put money down but not HALF of the car loan Your exactly right I screwed my credit as a young man now I own a detailing company and can't get anything with out the full amount of cash. I'm working on my credit to get better with *_Pecuniary backdoors_* , Love the knowledge keep it up
Great 7 tips 👍 we drive 2011 used BMW x3 purchased for only $10,000 that I paid off quickly. Been driving her now for 3 years. Highly mileage but still working great.
I worked at an automotive shop in college. Customers would buy luxury used cars and often couldn't afford the upkeep. A fuel filter replacement on a Cadillac is way more expensive than a Ford. If you can't afford a new car, you likely can't afford a used luxury car.
The brew at home coffee and self-made haircuts are part of a larger mindset that goes along with saving, F.I.R.E. or other short term or long term financial goals. The thing that some people may realize is that this behavior leads to other minimalist behaviors in your life and for some of us you actually come to enjoy these things, and then once in a while when you treat yourself you actually enjoy it much more. Maybe for some people Starbucks coffee every day won't break the budget, but the average haircut even for guys is creeping toward 50$ with a tip. For some people these items actually will affect a budget.
Absolutely. Coffee out with a friend is special. I But mostly I’m having my first cup at 6:30 am while home enjoying my morning.Sometimes a second; sometimes not. Reassessing the small stuff was not easy to implement. And at first I didn’t think it worthwhile, but it was a game-changer. Cut streaming, my phone and internet bills, my subscription to a favorite magazine, my grocery spending, and focus on reducing food waste. Reorganized and rerouted my errands reducing my monthly gas costs (-$1k annual mileage!). I tracked my personal spending and committed to buying what I needed used if at all possible. All small stuff but the decisions and mindfulness continues to keep $300 to $500 in my pocket each month.
I modeling you through your netflix tv show. Even if my finance look like a rollercoster, Automation changes the game. 100€/ month on gold and silver account. No need to think about it each months. The best new habit as a mindest and bodyset for me. Thank you bro.
Honestly, the only thing I tell my kids is to be aware of your spending. Spend every penny you have as a kid. Blow it on dumb things. Just. Be. Aware. It's too easy to spend and forget.
I think a big argument for frugality is that, if you actually make a habit of doing it properly, you will not be any less happy. That trip to Starbucks every morning isn't making you happy, at least not any happier than a different routine that still gets you a morning coffee at a much lower expense. And honestly, you will be able to find a routine that not only saves you money, it is also more enjoyable, takes less time, and removes frustration and uncertainty in dealing with that point of sale. Making a cup of coffee in the morning with a coffeemaker is, in every way, faster, cheaper, and easier than going somewhere to buy coffee. You don't lose motivation and energy by making this change, you gain it because it is so simple and routine that it is effectively nothing. You took out all of the bad parts, and you're left with a simple routine that you can modify purely for enjoyment if you so desire. If you truly love Starbucks that much, ok. Keep going there if you want to. But the cost savings of not going are real, and the benefits of going (time savings) may not be as real as they seem.
We use about 28% of the net monthly income. Ok, we use the same on renovations, but that pays back 2x when we sell each unit every 3-4 years (sure we'll play the cycles). That cheaper living comes with longer work trips, but we have only one car and an EV so the cost is low. I actually make money with the car since you get 0,57€/km tax free in Finland and I drive about 30 000 km annually for work.
It doesn't take will power to not drive to Starbucks for the cup of coffee on the way to work. It takes discipline. That's a poor example. It takes will power to not eat the Twinkies in the cupboard, to not eat the candy on the coffee table, to not drink the liquor in the fridge. Those are the types of things someone would say, "eliminate the will power struggle, don't buy those items in the first place." Eliminating the Starbucks for most people is the tip of the iceberg. Once they start really analyzing their spending, they will cut much more of their expenses than the $5 Starbucks. And it's just for a short period of time. Sacrifice your WANTS for awhile so you can have a lifetime of financial success and freedom.
Another example of what Ramit always says, to AUTOMATE with SIMPLICITY. Build a routine to make sure your coffee at home is ready to go in the morning and then you already have coffee in hand and you have no reason to stop at Starbucks. Set up a shopping list to order so you can automate your grocery pick up or delivery and have the foods you can easily prep or grab and go and you won't have the junk to eat or feel the need to stop at a fast food place for a meal that's not that good and definitely not that good for you, and that you won't enjoy as much as either a nice meal out or a healthy meal at home. So I don't think it's willpower or discipline either; it's building a natural rhythm in your life.
You build discipline by using your will power. They are not mutually exclusive. When people try to build a habit of working out and stay disciplined with it they often battle within themselves searching for a reason to go/not go.
Begins by saying forgoing coffee is chump change and concludes with saying imagine what saving $700/yr (by using my advertiser's product) could do for you.
ok, I loved a lot of this. But here's what I have to say about the housing thing. It depends a lot on where you're at in the market. We bought our house in 2009, and it was the cheapest house that we could barely afford, but without buying that house our housing expense would be double what they are now because we were able to sell it and have a massive downpayment for our next house, and now we pay half what the going rent is in our city. We did an FHA loan with 3% down and most gurus would have told us to wait, but it's probably the single biggest thing we've done to make it so we can comfortably afford housing. So I'm just saying, it depends. After the housing market collapses again, the advice might look different for some people.
I would love to hear a video not only about prevention on housing but what do for those of us who already bought houses. Also where I live unless we lived in unsafe neighborhoods and in the crappiest rental available we couldn’t afford rent in these parameters either. We could have moved but then we would have had to triple our child care because we’d be moving away from family. It’s a rock and a hard place.
And one more comment... I have learned a ton from you and feel you do a huge service to people... I just question the discipline people have to invest... or to invest for a while... then have some want, desire come up and cash out that investment.
The example of the couple who purchase a 600k dollar home v. 500k doesn’t factor in the appreciation of the home. In 30 years, a home could absolutely appreciate at similar rate depending on the city.
I like this video. Good insight, This reminds me how I cracked my second million in my dividend portfolio investing with the help of a finance manager who trades for me.
This has been insightful and I love you and you are my healthy protein in my financial diet and did I say I love you ??? You are tailormade for the working class liberals to swiftly become mindful about finances.
My car is 18 years old. Every time I have big $2k repairs I’m reminded that is nothing compared to being saddled with monthly payments of a new car. I have a car fund I pay into every month that covers future repair costs.
Sold my house due to job relocation. Got good equity. Rented initially and the rent kept going up. Bought a house and has never being happier. Owning a house is better by far than renting. Renting you make landlords rich and you build no equity.
Bought a new Ram TRX fortunately paid cash It is an awesome machine It still costs a lot to operate @10mpg on 93 Insurance Maitnance Cost about $600 mo. For a paid for vehicle to operate
@RAMITSETHIHELPLINEThank you Ramit, on your last video,.. how I got into PhD. I was glad to have reached out. As you clearly directed, it's perfectly working out. ❤
Ramit if there is one thing you have taught me as a college student who aspires to be a financial advisor.... its that I need to charge a percentage fee
About a year ago, I commented on one of your posts saying I would comment a year later after I paid off all my debts. Well today marks a year and I am DONE! Thanks Ramit.
Wow congrats!!!! 👏🏻👏🏻👏🏻
Well done
🎉🎉🎉
Hellyeah!
Wooohooo!!! 💪🏻
Trust me guys, this methodology really works. We live in Seattle, drive a used car, and live in a modest home. We’ve propelled our net worth simply by saving on cars and housing. My friends and family consistently ask me why we don’t buy a nicer car and home. I should respond by sending them this UA-cam link 😊
Please do! But most of all, tell me what their reaction is
Seattle resident here too, it’s out of control. The opportunity cost for owning atm is too high, especially when you consider amortization. Don’t let peer pressure change this mindset. Literally everyone I know who bought a house has drastically changed their lifestyle (no travel, no going out, etc)
Greetings from South King County!
I found a 2BR condo for under $200k and at an interest rate below 3% in 2021 and I jumped at the chance. My mortgage, escrow, HOA and amount I’m paying on a 0% interest line of credit through my contractor for a new furnace and HW heater combined is just shy of $1600 per month. Car and student loans are paid off, and I make just over $100k. I’m contributing 15% in my Roth 401(k), maxing out my Roth IRA and HSA, saving an additional $200 per paycheck and investing $300 per paycheck and being mindful of my spending.
I live on 45% of my post-tax income, and I’m doing everything that I want to do with my life, as well as know that I have financial security with my savings and investments.
Keeping it simple has been the way to go for me with a few select indulgences (concerts and fan conventions mostly) during the year.
@@thesaifmustafaI’m in South King County, and when I bought, owning was cheaper than renting by a long shot. It still is for me.
But now? You are absolutely right.
I live a simple life, save and invest the majority of my income and make sure I save for the things I want to do the most (concerts, travel, fan conventions other than ECCC). I live a rich life as a result.
Even though I’m saving money like crazy, I still worry whether or not I’ll have enough to retire, but when every simulation says I do and by watching Ramit’s podcasts, I’m working through those fears and feeling better about my future.
@@thesaifmustafabingo. It pains me to see my friends literally lighting their money on fire with their $10,000 mortgages at 7.1% interest. I refuse to participate in this rat race and will happily stay put with my modest mortgage, shitty car, and giant investment portfolios!
My peers "feel sorry" for me not owning a home at 36 but they have no idea that I'm only spending about 15% of my gross income on rent whereas they're drowning trying to afford their mortgage and ongoing repairs. I'm investing AND saving money and it feels amazing.
Lets postpone buying till we can. Till 50 will be best for us!
That low of rent makes me think you rent from an individual not a corporation. Renting from an individual is great until they decide to sell and you have to move and rent at market rate, or they pass away unexpectedly and their estate has to sell.
I figured I would be paying over 3 times the house value in 30 years in current high interest environment
It seems everything around us is valued by how much you can spend in a month
Yeah the mass is like lemmings, they feel sorry or baffle that in my mid 40s with a family I refuse to buy in overprice place like SoCal while people are tripping over themselves buying million dollar crapshack. While they cast their contempt towards my decision, I often wonder how many of these people actually have a million dollar liquid like I do and how many are house poor trying to keep up with the Jones
I found Dave Ramsey first, a year ago. Now I found you a few weeks ago. You create so much more value with your content as you go sooo much deeper and don‘t just scratch the surface. Keep it up, I‘ll be a life time follower!
You should also check out George Kamel, he gets into the deeper understanding of Dave's philosophy. It's hard for the Ramsey show to do that when they are always talking to people calling in with their problems
Dave Ramsey is the diet pill of personal finance. I am glad you leveled up to Ramit!
I had a very old car and need to buy a used one so because I didn’t have a car payment I took $400 and pretended like I had a car payment and paid that to my savings every month. I saved enough to buy my used car with cash And now again, don’t have a car payment. But what I have stopped doing is adding that money to my savings every month. I love these rules and I love your way of thinking. Thank you for sharing.
Amazing! 🎉🎉🎉
Congrats for your hard work!
Great work! I love how you simulated the car payment ahead of time.
That's awesome! I have a car sub-savings account so am doing something similar: I have an older car, runs great (still has another 100k miles left in it's life if all goes well), and I put money aside every month for those once a year things that come up for the car. (Car repairs/costs are still half of what they would be with a new-to-me car payment so I don't mind the maintenance/upkeep.) I save each month for the once every two years registration renewal, the inspection, and insurance so all the car things are taken care of. Each year I increase the savings rate a bit, and it makes a big difference.
I have about 3 months left on my car loan and I've been thinking I'll do the same. Its a pretty small payment, but I might just make that amount my monthly budget for car maintenance and make it a rolling budget line, so if its not used one month the next month I'll have $160 and so on. Its a little silly because I do have a savings bucket for a future car, but its already funded really, so I guess its more about gameifying having the car paid off and reminding myself that buying a new car just for the sake of having something shiny and new is not worth it at all.
I invested into a brevelle espresso machine for 800 dollars. I was buying coffee 1 to 2 times a day. 7 years later I've saved estimated 16k and never bought coffee again since mine just taste so much better. That 16k I invested into my Roth IRA. Which has given me a good boost to my future all from choosing not to buy coffee everyday. It's crazy how compounding can work for you or against you.
Just learnt few ways productivity can be managed, Appreciate the sense of detailed content...Everything can be made easier although a lot of ways to gamble on productivity has made it tough, It's so common that to some extent you have to participate at least attempt to get ahead and hopefully secure a comfortable retirement. Money sitting in the bank does not grow, money not invested well can be unproductive
How do you know what to invest in? How can you know if it is the right choice?
Could be anything, real estates, stocks, bonds, anything... Just make sure you just don't buy anything but something you've looked into properly and objectively... If you don't have the time, you could use an F.A or realtor or any expert there... For me, it was stocks because it was the cheapest to get into. I have made up to 400,000 in profits with a guide, There are more options these days..
Totally agree on using a guide, but where do one even find a good F.A ? I'm ready to get serious about expending, but the options out there are overwhelming
Consistent results aren't luck. Research was the challenge however it led to Lisa Michelle Pacillas, a top CFA well known with an impressive strategy.
she might be worth checking out online
Ramit's wisdom resonates with me best as "always play BIG, not small!" Great guy to have in our corner of the internet...
European here living in the US, it blows me away how often I see people here paying others to do home maintenance when they could save a ton of money by learning how to do it themselves. It costs me my time, and perhaps my sanity. Fitting a kitchen, hanging doors, laying flooring, painting the house, even simple yard work - trimming bushes, cutting the grass. Skills that can be learned. Once you know it, you have that skill for life.
I live in the UK. My husband bought a secondhand car with £3500 cash. After we welcomed our baby last year, he wanted to change to a SUV, but I refused. I'm happy to report that we are still driving that old car and not intending to change car anytime soon 😊
I would like to argue with this logic :) ofc if it suits u and I hope everything is well and all, but when it comes to family and especially a child, SAFETY first. Not investing into safety, because of greed - cuz everyone here wants to be a freaking millionaire, which is cool and all - is not a great move. On the roads you can never ever influence other drivers, and having a drunk or not even drunk just some stupid driver kill you and your whole family is not really cool - OFC I DO NOT WISH ANYTHING BAD!!! I hope this never happens, but suddenly in my area it happens quite a lot. Modern safe cars are important if you can afford them, doesnt have to be a mercedes. Can be used but a 3500 shitbox is nothing, just a coffin on wheels. Also I think these kind of "videos" or "mentors" has to be taken with a grain of salt. They r selling a dream, to all of you - for guidelines and selfreflection is good, but not living even one bit so you could have money when you lost everything else (meaning health, youth, motivation etc) is not a way to live life. I hope you are not offended by a different point of view on this matter :) have a nice day
@nikooovisuals5112 the fuck are you talking about my guy? I was literally looking at used cars for a few minutes, near me there's a 2017 mazda mx 5 for 2.7k, never failed an Mot and only has 25k miles... you're telling me that a fkn 2017 mazda mx 5 is a shit box? And then a have a colleague that wants to buy a shitty little honda for 13 grand used from a dealership paying monthly... spending little money doesn't mean the car is unsafe, old, unreliable or "a coffin on wheels" it just means you're not dumb and following the stupid societal trap of buying brand new cars for absolutely no reason, just purely to show off. When chances are, your brand new car that cost you 50 grand is in fact the shit box.
@@nikooovisuals5112 SUV's are a stain on the roads though. If you live in even a moderately built up city, there is no need to drive an SUV when you are never even looking at an off-road area. So many deaths are due to a pedestrian being hit by the front of an SUV and going under the car. Most if not all modern cars are safe enough for passengers, no need to drive round a tank in comparison.
@@kylekyle2445 agreed and i do not say that you have to buy an SUV, but a decent size modern car, cause older cars might have been safe enough back when they were made, they do not cut it now.
@@nikooovisuals5112
You don’t buy a suv over the car you have now because it’s more safe suvs aren’t even noticeably more safe in a car crash vs a sedan not enough to where it’s a sensible choice.
Wanting to get rich is not being greedy i don’t know where you attached to that mindset at but it’s not true. Same type of mindset is all rich people are evil and need to be controlled and punished.
While this man in particular is selling a product his product is already viewed and held high in readers mind not some book nobody has heard of and is expensive. He also gives you a video full of true information nothing behind a book paywall. Second his information he preaches is basic and taught everywhere from people who read finance a lot to degree holders to 70 year old finance Guinness to UA-camrs who can copy what others say word for word and still be correct. If he was misinforming others it would be totally different situation.
There is a difference between being frugal and sacrificing everything to save. He is preaching simple saving and investing not complete life altering things he even says the 5 dollar everyday coffee aren’t making a big difference which is the first thing frugal people will preach.
You need to stop reading whatever negative news that fear mongers these negative extreme ideas to you.
Me and my wife are living in South Africa and when it comes to car payments we have zero. It's been five years now and we're living our rich life. Being debt free is amazing and we are loving it.
We just made our last car payment on my wife's Jeep our payment was $778mo with a 10.80% interest rate we paid it off a little over a year EARLY because we always paid between $800 to $1500 a month to get rid of it. NEVER AGAIN will we have a car loan from here on out its cash only.
Mistakes are too many at this point. Been pretty financially illiterate my whole life and don't have parents that taught me about finances (not an excuse but does't help either), took out a mountain of student loans for grad school and got diagnosed with cancer during grad school, haven't started investing much in general or for retirement yet, it's been a rough go.
All that said, I am really trying to learn more this year and take more accountability. Your videos started popping up on my YT feed a couple months ago which have been helpful.
Surprise yourself.
You got dealt some difficult hands, it’s inspiring that you’re putting your time into improving your future :) you got this!
Hang in there. I always knew about compounding interest but fell into credit card debt. We can be free.
I was eager to become a home owner now I found you and learned so much I need to be more patient because I got enough on my plate. The only mistake I have done was getting an expensive car but I said I’m going to pay it in last than 2years. I’ll be back here in the next six months to testimony. Thank you so much 😇😇😇😇
I got rid of my car and it was the BEST decision I could have made. I don't have to spend any money or time getting it washed, no services, no insurance, etc. I end up saving close to $6,000 Australian dollars each year. And whenever I need a car, I just rent one or get an Uber. And probably spend only $1,000 a year doing this. 😀
I work in midtown Manhattan, single mom with 3 kids, making $117,000 per year. I own a coop, spacious with 2 bedrooms, garden style 2-story buildings, no headaches about maintenance outside my front door, greenery and flowers all around. Great neighborhood, great schools, commute to work is 45 minutes. I could NEVER afford to pay rent in the city, but as a home owner, I pay $1,500 plus PSE&G. No debt, it's perfect. A different take on home ownership.
@RAMITSETHIHELPLINEthank you for this opportunity. I followed your guidelines. It's working 🙏
Nice! Applauding your good fortune, and this alternative take. It’s all relative!
Reading your book and watching your content has seriously helped me get over the FOMO of buying a house and wanting a new car even though mine is 10 years old and has been paid off for years. I just keep reminding myself to think of those things as purchases and not investments and continue to get ahead by actually investing!
Calling them depreciating assets might help clarify further in your temptation part of the brain
I used to fully believe I “needed” to own a home. I was happy and single living in an apartment, but bought a fixer-upper foreclosure home in 2008. That house basically needed to be gutted and fully renovated, and when I sold it I didn’t feel like I made money on the renovations. Owned a single family home for around 8 years after that - nothing but stress and maintenance. I remember the constant worry that something else would break, paying the costs of maintaining a well and septic system, and investing in upgrades that didn’t pay off. Fast forward to 2022, sold the house and made a huge profit.
I now have people constantly telling me I “need” to buy a house. No. I save, I invest, and I rent - and I don’t think any of the houses on the market are a good deal anymore. I no longer have to worry about repairs and maintenance, and that alone is worth the money I’m supposedly “losing” by not owning (I’m still not convinced - home ownership is a money pit).
Im planning on selling my house of 8 years in 2025, everyone tells me to keep it or rent it etc but I ran the numbers and its costing me too much in repairs, interest, and most importantly my damn time! The profit I'm projecting to make could change my life once I invest it.
@@jmjm1195 sell it now
It's going to be worth less in a year
I'm a 61, single, a widower, living alone.
I sold my two real estate properties (in 2021 and 2024), invested the money in stocks, and live on rent in a brand new high quality apartment on the 17th floor, with a fantastic view.
I made sure to rent where the balance of power is in the hands of the tenant.
I'm lovin' seeing my net worth gallop, while I have stopped noting the price of everything. I just spend without being reckless and stupid.
The chapter on "Conscious Spending" in Ramit's book, was an eye opener. Thank you Ramit!
My net worth surpassed 1 mil this year. I drive a car with 410,000 miles on it, but don't really budget. I just won't spend 800 a month on a car payment. I've been investing since 22 years old and am self employed. I'm 40 years old, and hoping my account grows to somewhere close to what I can retire with at 50, should I need to do so. I hope by then to start or purchase a small business, so that I don't need to work as hard (physically) myself.
One strategy I have for keeping old cars is making upgrades like new head unit with all the modern features, etc. It doesn't hurt that I do my own maintenance, but even if you don't a few hundred bucks is far cheaper than the new car note, depreciation, increase in insurance, etc. and will keep you from wanting to get the new car.
Who needs a nice drivetrain and modern day engineering when you can go to best buy!?
@@Pnasty1337think you are joking but literally I agree
@@Pnasty1337 WOAH WOAH WOAH....how dare you accuse me of shopping at best buy
looking back, my dad was totally bang on when he said never allocate more money to depreciating assets (vehicles) than to investing and the new car smell is your money on fire.
Great to hear someone point out housing is always a cost - whenever I say this on reddit or facebook and that bigger the house the poorer you will be and that you need to calculate rent vs but cost before buying, I get 500 down votes and called an idiot.
I agree with you. I did this exercise thrice in my life. Boca Raton, FL, Memphis, TN and Portland, OR. It made full sense to buy the house in TN for the price and cost of ownership at that time. Right now, we are renting.
My husband and I spend thousands at Home Depot every year...home maintenance is really important but expensive 😢
hard to find a finance UA-camr who isn't also a landlord. glad I found you 😊
I can tell you as a first time home buyer it's so easy to get in over your head and try and qualify for as much loan as you can and buy as much house as you can. My mortgage payment is dirt cheap but I remember trying to qualify for as much as possible when buying. Stick to what you can afford. Also assume your payment will always go up cause of tax and insurance. It'll only drop off when the mortgage is paid.
Ramit amazing work as always! You’ve changed my life. But please I would love a chapter towards college students (with and without debt) & where rent is over half of income. I have family with old time mindset where they focus on saving money but not growing it or creating proper budgets.
Ramit, your 'conscious spending plan' is a game changer esp. the guilt free spending. Thanks for sharing your knowledge.
Currently my student loans are the single biggest purchase I’ve ever made 😅 I made that decision when I was 17. Wild.
I’m 30 now and have 37k left. Started with 110k. Maybe one day I can buy a house and maybe even have a family. Wouldn’t that be nice! I’ll be saving for my children’s college. ❤
I dont think college will be relevant in your children time. It is crazy to pay taxes and still have to pay college. Where I live the government pays me 600 dollars a month to be in a college (all universities are free private and public). I live in Sweden
Great to have a reminder of this stuff. My rich life involves owning a house but I paid an almost 50% deposit on a cheap house in the town over from where I wanted to be so that my mortgage + extras come out as way less than renting in the original town. Invest the difference and I'm happy able to do things to my place and have pets without asking for permission
I did something similar, and my housing costs are a lot lower as a condo owner than they would be as a renter.
A similar story,: bought some propoerty in an area, where I could not afford to rent it (would pay 3-4 times more than our mortgage payments were), saved money and payed everything off decades earlier than scheduled. So Ramit's rule should add: think very carefully about possible scenarios/outcomes, career plans, potential risks etc in addition to running the numbers.. Yes, there will be maintenance costs, both regular and bigger ones, but...still cheaper than renting in long term.
Right after my divorce the bank said I could afford a $300,000 house. My father said I could afford $150,000 house, so glad I went with dad’s advice. I’ve never been house poor, even when I lost my job and took a serious cut and pay.
True, the mortgage is just the tip of the iceberg in home ownership. But when you rent you’re paying for their mortgage, upkeep, repairs, taxes, insurance, and their profit. I would say the power of renting is you now have your weekends free to live life, not mowing or draining the waterheater, picking weeds, etc.
That is IF they make a profit. Believe it or not, but sometimes landlords don't make money, they're lucky if they break even, especially if it's an individual and not a corporation that is the landlord.
@@rafizxDx tbf im a landlord and i pay Up a few hundred bucks each month, my profit comes when i sell the building again. Its Just that the rent pays Like 3/4 and i pay 1/4 off of the credit.
I love renting... single man and I invest 15% in the stock market every month😊
When calculating the total housing cost, why do you use gross monthly income over net monthly income? Wouldn’t that be a more realistic measure?
I really appreciate this video and this channel. About a year and a half ago I purchased a house for the first time. I wanted a big house but I bought a small house that was less money. And it's hard going to friends and family houses that are sooo much bigger and nicer than mine. The truth is I love my small house. I feel grateful to have a house but, it is rough having less when so many folks have homes twice the size and their homes are updated and gorgeous! I just keep my head up and keep trying...
Years ago, I lived in a smaller town that despite its size was car centric.
One day, I passed a parked car that can only be described as a beater. The rear license plate frame read: "Don't laugh, it's paid for"
A lot of wisdom in that brief saying.
When my husband and I were out, he used to wonder how people could afford luxury high end cars. I had to remind him an expensive car was not necessarily indicative of a fat bank or investment account.
You're doing great. You are happy with what you have. No price can be placed on gratitude and knowing for oneself what is enough.
@@mrsterious5845 thanks!
In the past few months I starting going crazy on saving and investing. It took me selling a rental property for 144k net profits with all of that money going towards paying off a 92k truck and a 70k Tesla to understand the value of the dollar again. The payments were killing me and just like you said, all I considered at the time was that monthly payment. Now I turned it around saving 30k HYSA and investing over $5k a month in hopes to pay off my house in the next 6 years. I am buckling tf down on my finances. Thank you. Just grabbed a copy of your book to help aid me thru this!
I started working on my credit 2 years ago. I didn't know where to start I had no credit. I started looking up videos and found *_Pecuniary backdoors_* . I followed what you said and started with an secured credit card for 200.00 and mad sure to keep my utilization under 10% and paid on time every month. I now have 3 unsecured credit cards and a 757 fico score. Thank Danielle for all the information and tips. Now we are in a position to buy
Bought a car yesterday dealer tried to add $4900 in aftermarket products and told me they couldn’t be removed. Told them I was walking twice and they removed it. I can’t imagine how many ppl just allow that extra charge bc they can afford the monthly payment.
yeah its also a boundary issue too. so many people don't have enough assertiveness to upset or challenge people and they suffer financially because of it. you really had the confidence to not only tell them what would happen if they didn't treat you how you wanted to be treated(like a boundary) but walked twice showing them that the third time you would be somewhere else and they would be spending the next days wishing they had made some commission lol great work
Same thing happened to me last year, except I was showing my son how not to be suckered (his first car). Car dealer refused to take those unnecessary charges off and we were writing a check for the total amount too. I told the dealer it’s his loss and that I would get what I wanted somewhere else. I also told him I would drive by and let him know too. My son and I left and went over to the next town, bought the same car and paid the price we wanted too. I know it was petty but I did drive my butt back over to that dealer with my total paper in hand and let him know the next day. He looked irritated too😂😂😂😂. I really believe he thought that since I was a woman I didn’t know what I was talking about. It was a great lesson for my son too: pay in cash, learn to say no and be willing to walk away
Good advice for people at different levels of the financial spectrum. My personal favorite is to keep things simple- and as a result, consistent. The people telling you to skip coffee are telling you nonsense. My only issues were 1. The comment about a budget 2. The AUM fee.(this one less so.) A budget let’s you make informed decisions
Wonderful, just wonderful. Truth must be sought beyond whatever social baggage you are carrying and must let go of. Forward momentum is accelerated in crystal clear vision. *Pecuniary backdoors* dropped serious knowledge. My credit presently runs from good to excellent, but I want from excellent to most excellent. I hear that this is the way to do it. I love the whole precision of this methodology. Here is power. Thank you.
Covid hit, and in April/May 2020 I was sitting in Starbucks' drive-through for 30-45 minutes most days. What a waste. I built a spreadsheet to determine how quickly a good (not cheap, but not $2000 either) espresso machine would pay itself off. (~6 months) Went out, bought the machine, in about five tries was making better-than-Starbucks lattes and mochas for 1/5th the cost, the machine paid for itself, I got 30-60 minutes back, didn't have to leave home, and then PUT THE SAVINGS IN COFFEE toward consumer debt. (Oh, and coffee beans aren't taxed GST in Canada like drinks at a coffee shop are, so there's even more savings.) Win win win. Better coffee, less time wasted, paid down debt. Now I only go to coffee shops on a Saturday as a treat to get out and sit on a patio with coffee (which I do on work days, but it's my deck). That's the Rich Life Ramit is talking about.
What espresso machine did you get?
@@mistydavis4746Breville Barista Express. In 2020, typically cost CDN$800, but I got it on sale for $600. I saw it at Canadian Tire two weeks ago for $1100. Yikes.
I found my own personal sweet spot for coffee. I reduced the amount and stopped getting pastries with it.
What I found during the process was that I wasn't enjoying big coffees because of the dehydration. And I wasn't energised from the pastries long term.
So I've saved some money there but am enjoying the coffee more than ever before.
I really hate the argument that "1 million would only be worth 600k in 40 years due to inflation"
First of all, shut up. Second of all, that's still 600k? Do you not want 600k??
Anyone arguing "but I'll only have $X amount because inflation" is welcome to send it my way.
1M is worth 280k in 40 years with 3% inflation, but lately inflation has been way higher where I live
They conveniently leave out the potential annual growth of the $1 million😂
the 7% return Ramit assumes is a real rate of return that already factors in inflation (10% nominal return - 3% inflation). so it’s really about $3 million nominal after 40 years = $1 million real
@@fatlife1905 where do you live and how long is this "lately" period? in most countries in the West, inflation went crazy high two-three years ago, but it actually didn't stay there as long as media and many doomsayers would have you think
I bought my house at 175k two years ago and now that I am planning to move I wish I had rented because of the hassle and the amount of money I lose by paying the taxes involved and the real state agency. Thank you ramit because thanks to your input I think my next move is going to be investing the money I get from the sell (index funds I started invested in in 2021) and go rent somewhere! My rich live involves wanting to move every now and then and I thought by buying a house I would push myself to stay somewhere… but guess what! No. 😅
I love the content and wish I’d acted in this type of information decades ago. I’m 53 and beyond underwater now. May not be hope for me to live my rich life until I die, but I am 100% sharing this information with my kids so their lives will be different!!!
I'm right there with you.
If they're in a decent place now and act on Ramit's teachings, who knows, they might be retiring you, offering you an in law apartment, and taking you on vacations in a few years!
For me I like investing in the stock market. I'm not interested in investing in real estate. I used to really think about doing it, but I am put off. With interest rates, paying fees to lawyers, the repairs, maintenance and also you can get tenants that wreck your property or refuse to pay rent. I find it's just easier to dollar cost average every week into my share's portfolio. Because I know that the stock market is volatile, I ensure that I diversify my portfolio in different sectors. Plus, I have a couple of etfs.
I actually quit buying a morning cup of coffee.. I make it at home instead and invest the difference automatically. After 6 months, my "coffee fund" is up to about $690. That is not going to make a difference in my life. But it is fun to watch.
You can buy a really sweet fully automatic espresso machine with those savings.
That's another 1-3 car payments. It adds up in my eyes.
My simple pleasures in life are coffee, naps, and listening to Ramit shit on stupid big trucks and how wasteful they are. I hate them so much. Keep preaching the good word Ramit!
I listened to his advice 11 years ago and I bought a smaller house (265k) and paid it off in 6 years and it was a 10 year mortgage so i paid very little interest. But a lot of sacrifices.
I only got 3k in debt so it’s not that bad. But I’ll pay it off. Glad I came across you, been binge watching all your stuff.
Thanks for these videos Ramit, your perspective on money is rare in the UA-cam space currently, and it's refreshing! You always make me think more about things I never would've thought about before.
I appreciate that!
I made the "radical" choice to not own a car. Because I live in a high cost of living area, that means I have public transportation all around me. Even though I have the cash to go buy a car free and clear, none of my friends seem to understand that I am also saving on not paying all the phantom costs associated with car ownership. I take what I would be paying in those phantom costs, and invest it in my 401K.
You're also less likely to be injured severely, which is most likely inside a car
You mentioned cutting your own hair like it’s a joke but I seriously do it lol. I keep it short so it’s cut every two weeks. Which is like 100$ a month. But I mostly do it cause I hate hate hate going to a barber and wasting the time too. So it’s a time and money saver for me.
I do the same. I absolutely LOATHE going to the salon. I would get a little depressed when I realized my hair needed a cut, that's how much I hated going to the salon.
Took me years to realize there's no law that requires me to go to the salon. I now have a haircut I can maintain myself and I invest the money I used to spend at the salon.
100% with you. Finding someone to cut curly hair correctly is a pain where I live, plus I’d have to literally spend hours in a salon. It’s just less of a headache to do it myself.
I made all of those mistakes. Good that I figured it out early. A few examples - paid off our 30-year mortgage in 7 years, able to pay kids’ colleges and help with weddings and most importantly, buy wifey a new Chanel purse annually.
Yes! Love the annual purse splurge…
As a former homeowner (long story, job related) the +50% phantom house payment is more than accurate. BUT...with rising insurance and taxes, keep that amount to 28% or less of net pay, not gross. You may have to wait longer, but you may thank me in 10 years.
Yup. I’m a homeowner and just threw down $16,000 on a new roof and drywall/framing repair. I did the math and it spot on added 50% to my mortgage.
Net is key. Definitely not gross income.
Socrates once said, "I cannot teach anybody anything. I can only make them think." Ramit is embodying this philosophy today. Thank you so much for your amazing input!
This is why my partner and I are moving to a low cost smaller town with expected growth to buy our first house. Our HH base income is 115k. We plan to by a house for 300-330k. Hoping to put 20% down. Our mortgage will be 1500 to 1800 a month plus accounting for extra costs for 750-850. The house will be tiny in a quiet little town but I get to decorate, paint, garden and have some land/physical asset
Very VERY well informative video, I am 22 years old and love watching financial videos. Everything said here was so accurate, I love how you keep it real with looking at the bigger picture than focusing on the pennies from the credit cards. I learned a lot from all the examples you gave, thank you for helping me prepare for my future!!!
Just wanted to say thank you for enabling the Picture in Picture functionality on YT. Very helpful.
he's right. so far this year i was able to save a little over 20k i would have more but sometimes i fall back into old habits buying things i don't need. at the end of the day i am my biggest enemy when it comes to building wealth
Out of everything on this video. I appreciate the encouragement that you gave halfway through. Just because I'm 38 and not 20 doesn't mean to give up. I just have to start now and try harder.
I was starting to regret and feel down that I have little to nothing saved. Knowing now that if I just try a little bit harder. I'll have a good run at this and a good life. 😊
Thank you for the help. 😊
I would probably take the 1 million dollar bet, and hope that in Ramit's porfolio, he has shares of a fund that owns shares of company that is a corporate real estate company, and ergo, is a proxy owner of rental property, because he owns a fund that owns shares of a company that owns rental property, making him a land lord by indirect proxy, which STILL COUNTS!
No, that doesn't count. But if you'd like to take the bet, I'm wide open to it!
Show us your investment portfolio @@ramitsethi
Hey Ramit, your videos are very helpful and educational, keep up with the excellent work. I know most people struggle just to save some money but one thing that I don't have a very clear picture is when or if I should touch your invested money before retirement. Some people say that you could take up to 4% of your money invested every year and your total money invested would "never" go down. So let's say one of my goals is not having to worry about shelter anymore. If I have 600k in investments, I could in theory start taking 2k per month to pay rent and live for "free". Of course there would be taxes and everything but you probably got my point. Should a person do this or keep investing until they retire and their income starts fall? I think reaching that milestone and just be able think "hey if I want to, I don't need to pay rent anymore" sounds very appealing. Thanks!
I'd like to see a video on homebuying. Not just what you can afford, but specifically where to park the 20% downpayment as you save up. I'd like to see a discussion of if you are buying within 1yr, 2 years, 2-5 years, and 5+ years. HYSA, vs treasury bills, vs Passive Index Fund (low expense ratio 0.015) that tracks S&P, etc. The risks associated with each, the opportunity cost of going with one over the other, and so on.
High yield savings account and done (in rare cases, if you're not planning on buying for 10+ years, you might invest it.) Just set up a savings account, automate it, and move on. This is a decision that people really get stuck on, but it can be decided and automated in less than an hour.
@@ramitsethi understood. Thanks.
Homeowners insurance is hell these days. We do not even live in a high-risk area, and they dropped our plan.
This is why I’m glad I’m a member of AARP. My homeowners premium dropped by almost HALF by getting insurance through them and their partner: The Hartford.
One of the best Advise i recieved about Money and live Happy. Thanks Ramit❤
That +50% on your mortgage installment is so true. Buying a house was brutal as I had not accounted for those costs and it wasn't nice at all.
In FL, the phantom cost of 50% might even be too low. Property taxes, HOA fees, and Homeowner's insurance can easily be 50% already depending on location. And that's neglecting closing costs, maintenance, etc.
With that being said, there's a difference between renting because one can't afford to buy and also doesn't have money left to invest vs. making a calculated decision to rent and invest in something else. Sadly, many are in the first boat.
When we bought our first house we had lived overseas for a few years prior and didn't have the required paperwork. We had to put down 20%, which was painful to get together at the time, but because of that we have enjoyed our home for many years without struggle.
Hi Ramit! Love your channel and am learning a lot. I am a teacher (30 years) and use your channel to help teach my student teachers about investing (no - I don't teach finance, I teach elementary Art! investing knowledge is just a bonus my student teachers get when they work with me;) In any case - about the hot topic of buying a house.... When you say "run the numbers" and you can't understand why people don't - it is because they don't know how. What numbers?! You flew through it in this video, but honestly - this is a topic that requires its own video. Please make a step by step video on this very topic!!! That would be SO SO SOOO helpful!
I drove my first car in my dad's name and later went to get a truck in mine after I paid off my first one and drove off the lot with the truck I wanted, its mostly about a good credit score and a loan portfolio helps as well...lenders like to see various forms of loans in your name to be less of a risk and yes you might have to put money down but not HALF of the car loan Your exactly right I screwed my credit as a young man now I own a detailing company and can't get anything with out the full amount of cash. I'm working on my credit to get better with *_Pecuniary backdoors_* , Love the knowledge keep it up
I started with the book before i knew he even had a youtube and the book is worth every minute it might as well be free!
Great 7 tips 👍 we drive 2011 used BMW x3 purchased for only $10,000 that I paid off quickly. Been driving her now for 3 years. Highly mileage but still working great.
I worked at an automotive shop in college. Customers would buy luxury used cars and often couldn't afford the upkeep. A fuel filter replacement on a Cadillac is way more expensive than a Ford. If you can't afford a new car, you likely can't afford a used luxury car.
I appreciate this video. Lots of timely advice,good reminders and tough love people need to hear to get them in decent financial standing.
The brew at home coffee and self-made haircuts are part of a larger mindset that goes along with saving, F.I.R.E. or other short term or long term financial goals. The thing that some people may realize is that this behavior leads to other minimalist behaviors in your life and for some of us you actually come to enjoy these things, and then once in a while when you treat yourself you actually enjoy it much more. Maybe for some people Starbucks coffee every day won't break the budget, but the average haircut even for guys is creeping toward 50$ with a tip. For some people these items actually will affect a budget.
Absolutely. Coffee out with a friend is special. I
But mostly I’m having my first cup at 6:30 am while home enjoying my morning.Sometimes a second; sometimes not. Reassessing the small stuff was not easy to implement. And at first I didn’t think it worthwhile, but it was a game-changer. Cut streaming, my phone and internet bills, my subscription to a favorite magazine, my grocery spending, and focus on reducing food waste. Reorganized and rerouted my errands reducing my monthly gas costs (-$1k annual mileage!). I tracked my personal spending and committed to buying what I needed used if at all possible. All small stuff but the decisions and mindfulness continues to keep $300 to $500 in my pocket each month.
I modeling you through your netflix tv show. Even if my finance look like a rollercoster, Automation changes the game. 100€/ month on gold and silver account. No need to think about it each months. The best new habit as a mindest and bodyset for me. Thank you bro.
Honestly, the only thing I tell my kids is to be aware of your spending. Spend every penny you have as a kid. Blow it on dumb things. Just. Be. Aware. It's too easy to spend and forget.
Thank you for standing up and supporting building affordable housing.
I think a big argument for frugality is that, if you actually make a habit of doing it properly, you will not be any less happy. That trip to Starbucks every morning isn't making you happy, at least not any happier than a different routine that still gets you a morning coffee at a much lower expense. And honestly, you will be able to find a routine that not only saves you money, it is also more enjoyable, takes less time, and removes frustration and uncertainty in dealing with that point of sale. Making a cup of coffee in the morning with a coffeemaker is, in every way, faster, cheaper, and easier than going somewhere to buy coffee. You don't lose motivation and energy by making this change, you gain it because it is so simple and routine that it is effectively nothing. You took out all of the bad parts, and you're left with a simple routine that you can modify purely for enjoyment if you so desire.
If you truly love Starbucks that much, ok. Keep going there if you want to. But the cost savings of not going are real, and the benefits of going (time savings) may not be as real as they seem.
We use about 28% of the net monthly income. Ok, we use the same on renovations, but that pays back 2x when we sell each unit every 3-4 years (sure we'll play the cycles).
That cheaper living comes with longer work trips, but we have only one car and an EV so the cost is low. I actually make money with the car since you get 0,57€/km tax free in Finland and I drive about 30 000 km annually for work.
Regarding your mortgage calculator, that's one hell of a cheap property tax and home insurance for 600k house.
It doesn't take will power to not drive to Starbucks for the cup of coffee on the way to work. It takes discipline. That's a poor example. It takes will power to not eat the Twinkies in the cupboard, to not eat the candy on the coffee table, to not drink the liquor in the fridge. Those are the types of things someone would say, "eliminate the will power struggle, don't buy those items in the first place."
Eliminating the Starbucks for most people is the tip of the iceberg. Once they start really analyzing their spending, they will cut much more of their expenses than the $5 Starbucks. And it's just for a short period of time. Sacrifice your WANTS for awhile so you can have a lifetime of financial success and freedom.
@@cheezeandcrackers spending discipline is what is needed
Another example of what Ramit always says, to AUTOMATE with SIMPLICITY. Build a routine to make sure your coffee at home is ready to go in the morning and then you already have coffee in hand and you have no reason to stop at Starbucks. Set up a shopping list to order so you can automate your grocery pick up or delivery and have the foods you can easily prep or grab and go and you won't have the junk to eat or feel the need to stop at a fast food place for a meal that's not that good and definitely not that good for you, and that you won't enjoy as much as either a nice meal out or a healthy meal at home. So I don't think it's willpower or discipline either; it's building a natural rhythm in your life.
You build discipline by using your will power. They are not mutually exclusive. When people try to build a habit of working out and stay disciplined with it they often battle within themselves searching for a reason to go/not go.
Whole point of the video flew right over your head
Begins by saying forgoing coffee is chump change and concludes with saying imagine what saving $700/yr (by using my advertiser's product) could do for you.
ok, I loved a lot of this. But here's what I have to say about the housing thing. It depends a lot on where you're at in the market. We bought our house in 2009, and it was the cheapest house that we could barely afford, but without buying that house our housing expense would be double what they are now because we were able to sell it and have a massive downpayment for our next house, and now we pay half what the going rent is in our city. We did an FHA loan with 3% down and most gurus would have told us to wait, but it's probably the single biggest thing we've done to make it so we can comfortably afford housing. So I'm just saying, it depends. After the housing market collapses again, the advice might look different for some people.
I would love to hear a video not only about prevention on housing but what do for those of us who already bought houses. Also where I live unless we lived in unsafe neighborhoods and in the crappiest rental available we couldn’t afford rent in these parameters either. We could have moved but then we would have had to triple our child care because we’d be moving away from family. It’s a rock and a hard place.
And one more comment... I have learned a ton from you and feel you do a huge service to people... I just question the discipline people have to invest... or to invest for a while... then have some want, desire come up and cash out that investment.
The example of the couple who purchase a 600k dollar home v. 500k doesn’t factor in the appreciation of the home. In 30 years, a home could absolutely appreciate at similar rate depending on the city.
You should absolutely factor in appreciation. Any buy vs rent calculator does, as well as rent appreciation, maintenance, etc.
Rent goes up too. SoCal sucks but for those of us who live there Rent is more than my mortgage in some areas.
@RAMITSETHIHELPLINEthank you for this opportunity. I followed your guidelines. It's working 🙏
lol I cut my own hair; I’ve been cutting it for years.
Thanks Ramit! Trying with student loans but keep getting distracted....
10:55 3 wait to invest
14:07 4 pay %
17:35 too detail
21:44 piled debt
Tell me what to do with my mistake. Leasing aVolvoat 1700/month. Should cancel ? Change it to purchase vs lease? Help me please!
I like this video. Good insight, This reminds me how I cracked my second million in my dividend portfolio investing with the help of a finance manager who trades for me.
I agree with you, who's this person & how can I reach out?
Alright. Her name is Emmennet Jaccque Barrett. Research her.
Really awesome. I work with same lady, Emmennet Jaccque Barrett. Met her at a finance seminar in NY.
This has been insightful and I love you and you are my healthy protein in my financial diet and did I say I love you ??? You are tailormade for the working class liberals to swiftly become mindful about finances.
My car is 18 years old. Every time I have big $2k repairs I’m reminded that is nothing compared to being saddled with monthly payments of a new car. I have a car fund I pay into every month that covers future repair costs.
Sold my house due to job relocation. Got good equity. Rented initially and the rent kept going up. Bought a house and has never being happier. Owning a house is better by far than renting. Renting you make landlords rich and you build no equity.
Glad it's working out for you. Have you run the numbers?
Some great tips & solid advice. Thanks for sharing.
Bruh, good video. I could feel the intensity in this one.
Bought a new Ram TRX fortunately paid cash
It is an awesome machine
It still costs a lot to operate @10mpg on 93
Insurance
Maitnance
Cost about $600 mo. For a paid for vehicle to operate
@RAMITSETHIHELPLINEThank you Ramit, on your last video,.. how I got into PhD. I was glad to have reached out. As you clearly directed, it's perfectly working out. ❤
I SMASHED THAT LIKE BUTTON! Thanks for sharing.
Ramit if there is one thing you have taught me as a college student who aspires to be a financial advisor.... its that I need to charge a percentage fee
Interesting video. Saved this to watch it again.