0:00 Please remember: These are real people who had the courage to come on my podcast and ask for help. Would you be willing to come on this podcast and share every detail of your financial life? Feel free to leave comments based on what you think, but remember that we are here to help in a supportive way, not to demean and criticize.
I'm trying to help my friends see the lense of financial freedom and they can't grasp it. Yet I am able to stay at home with my new born twins while they work day in and day out.
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Oh my gosh. At 28:05 when you said, "Celebrating is a really important skill" I think Travis is literally taking note of that--he's writing it down. You spoke his language. A skill? He's like, ooh, a skill I'm lacking? I'm on it! Hahaha.
That's military for you. For fun my brother-in-law practices wilderness survival, learns Russian, and cooks. Zero materialism. Military also has the total opposite, I don't think they stay in that long though.
I remember Dave Ramsey’s daughter was with a caller and she said “women buy things that the whole house needs and often get blamed for spending too much, but it’s because they’re taking care of buying for everyone”. I think it’s easy to think a purchase was unnecessary when you don’t really know what was needed to begin with. They seem super solid and wow, very inspiring as far as setting yourself up for a rich financial future. Great episode
I think there are 2 fascinating aspects in this show. 1. We can see that everyone has a very unique relationship with money, and Ramit tries very hard to convince them that their individual viewpoint may not be the only way to look at things. 2. Ramit is great at responding positively to almost anything someone says, makes them comfortable and then delivers a counter-argument if any. This way you don’t feel like the disagreement is with the person, but with the viewpoint. This itself is a niche skill, and would end millions of arguments within couples all over the world. I would recommend every couple to watch at least 5-10 episodes of this show for a happier married life!
So was the big takeaway this week that they are not able to meet all their needs because they were actually over-investing? Sounds like with four kids, their expenses have gone up but they haven't really acknowledged that or adjusted their spending plan to reflect their new reality. It's sad to hear they tell their kids they can't afford things when the reality is they can, but they're still too focused on the future-a future they've more than amply prepared for. I'd much rather they tell the kids they won't be buying something in service of a bigger goal. That's a more honest approach and a better lesson. But it also sounds like they're living a more austere life than they truly need to.
Absolutely! I think with some decent communication, a restructuring of their goals and giving themselves a bit of grace they’d find a lot more peace. They seem to have been making it pretty hard on themselves by being so strict about their money. Travis has set an unreasonable budget so that they can invest, I also don’t think that he understands the burden for Ashley to live under this harsh budget while taking care of the house and children. I think all of his concerns and hers could be alleviated if they got to redoing their budget they’ve put off for a year and actually made it reasonable - all spending if going to seem frivolous if it’s coming out of savings.
I agree. I stopped this recently and tell my kids “I can’t get that because I’m saving for an emergency. I’ll see if it can fit in the plan next month.”
I hope Travis learns to trust Natalie's judgment more when it comes to spending on the kids and house. Like if there ever was a time to believe your spouse when they say prices have gone up, it's now! I'm a recovering optimizer. Sometimes enough is enough and you and your family have lives to live 😌
Really great hearing this video...and what a great couple Natalie/Travis, I'm happy for them and the success they've accomplished at an early age - please take more time to celebrate!!!. Like Travis I constantly moved to the next project/mission (leveling up), and had a hard time celebrating the journey which I've started to do now. Great show!
Your Netflix show started me on the journey to change my whole outlook on personal finances. I straight away found your podcast on Spotify and then finally found your wonderful UA-cam Channel. My whole psychology has changed and I am on the path to living my Rich Life after difficult decisions. I hope many many many other people benefit from your advice. You are making positive changes in so many peoples lives. Nice work Ramit 🙂
Love this podcast and look forward to it every week. Been a follower for 10+ years. The music at the end of each episode sounds like you are being played off stage though 😂
Don't. She's probably waiting it out to cash in on a military divorce where she gets half of his pension and military benefits the rest of her life and half the properties. The husband doesn't realize his controlling ways is what's going to cost him everything. He doesn't foster teamwork or harmony.
I think what would make her feel financially safe is knowing she won’t be in major debt again after short selling 6 properties (which is unrealistic)… she’s traumatized.
I was in a similar situation but with only 2 kids. I like spending on the family. My husband likes spending on our rentals. He wouldn't mind spending 1600 on the washer/dryer for our rental house (even though we're not required to provide them to tenants) but he thought our 1300 dollar stroller was a lot. We had so many disagreements over spending. Now, I work 2 days a week and that is my spending money. His investments keeps us afloat. It seems to work for us. It's complementary to have a "cheap" person to make sure budgets are met and a "spendy" person to make sure we enjoy ourselves. Not every couple is on the same page financially but their marriage can still work. Our method may not be right for everyone but it works for us.
My Amazon strategy is to put items in the cart, but only place an order once or twice a month. I also consolidate the deliveries to one day to streamline the unboxing and putting away. This couple is like two peas in a pod! Hurrah!
Enjoyed your Netflix show. I got out of debt completely over a year ago and paid off a car within 10 months last year. I have no debt and plan to stay that way.
4 kids and u surprised you have no money?? Kids drain you financially, theycause so much stress. Don’t think people can afford more than 1 child these days. Not dumping on people who want children, but need to think what they are going to cost overall, as Travis said, anything can happen. Explains why people are opting to NOT have children, birth rates are plummeting. Watched my parents struggle all their lives, we lived hand to mouth, they died with nothing , they had too many mouths to feed.
Such valuable information! I am glad you have a variety of people on because we all can learn from each one regardless of our financial situation. Thank you for this UA-cam and Podcast and for the people sharing. Actual information everyone can use and not all the other junk on the internet! Kudos Ramit! I admire how your changing the financial landscape and the status quo!
I think Travis is a little controlling, they should view things more as a team. Amazon is fine if it frees up time for the wife to spend more time with their kids. It also seems like he is bringing his military perspective/background into the family budget, for better or worse.
@@ericheart1198 If he doesn't trust her judgment as a partner then he shouldn't have married her. He isn't the "sole provider", she runs the household and keeps the kids engaged in school and activities so he can focus on buying rental properties and "teaching English in Asia" (🙄) or whatever else his business and career goals are. That's how she provides for their lives.
@vulpixelful He's the sole provider in finicially taking care of the family, which is imperative. I never said he didn't trust her. It seems she doesn't completely understand from a monetary level.
@@ericheart1198 He clearly doesn't trust her if she has to justify every single little purchase, and doesn't understand that inflation + children has increased their fixed and variable costs. Earning potential can be increased by taking the _time_ to research and grow skills. That time ain't cheap. The fact that she gives him more _time_ by taking care of very important duties like running a household is a financial contribution. Watch more of this channel and others to really understand time value ✌🏾
@vulpixelful I don't think you quite understand. Yes, inflation is at an all-time high, but adjusting should be something everyone should be doing. Especially if your income hasn't changed. I don't see an issue with explaining what she's spending on a daily basis when they are living off his income. They do, however, need to communicate better as a couple.
The over saving seems like the biggest problem they have limiting their household needs. I would cut that down and see if there was a property in which money could be placed to pay it down and increase your monthly income. Or it might be time to sell one or two or even consolidate into a larger property. Without seeing all the numbers its hard to have a direction about things which could be done. But I think the take a way is definitely correct, use the money today to enjoy the things you need. I guess if weekly nails are that important, do that but that too can be pricey. There's nothing wrong with having a "saving mentality" but when it comes time to spend a little of that money, then you should.
I watched the Netflix... i like these better though... they get to the point faster and there is more emotional depth and less fluffy filler... but what u do is awesome and sooooo needed 💚💚💚🙏
Are all their properties mortgaged? Because that is why they live in fear. The bank owns “their” properties. This was a very unclear episode. More questions than answers.
love this show, I too make a good living but just never feel safe that expenses keep going up and I have to keep saving and investing to make more to keep up.
Hi Ram this is Sagar. I started watching your show on the release date and continuously watched 4 episodes. I will watch all your episodes. I am a big fan of you
Ramit is there a way for me to have a private consultation? What is your charge of private financial consultation? Please let me know how I can get in touch with you.
There are poor rich and rich poor this are rich poor they are so worried about making money that they don't enjoy what they have ,whene you died you only take what you enjoyed and the good time and memory you spent with your family ,no money is enough for this two they should be grateful they have accomplished so much with so many people in the world that don't have a roof over their head or food on the table
How much money do they acquire from their rental properties a month? And how much do they pay in property taxes and home/rental insurance. Thats alot of money I imagine, all that is not cheap. Its expensive to own a 🏠
I grew up with a parent who constantly told me we couldn't afford things and he wouldn't even come to my high school theatre shows because it cost $7 for a ticket. In truth the reality was the opposite of what he said and if I could tell these 2 on this episode anything it's that you will make your kids feel like your money is more important than them. It's not about saying yes to everything they want or "spoiling" them or spending more than you have just for them... It's about making them feel like a financial burden.
and trust me when i say they do realise when you tell them you dont have any money for them and they see you buying smokes and alcohol every single week..
I feel this in my bones. I am the youngest of 4. Both parents worked but mom was the source for all the daily expenses so we lived frugally while my dad spent on himself. We never had money to go on vacation, mom made clothes for us, we always heard how money was tight. Then I (10 years old) was returning from the store (on the bike I had to pay for) with a loaf of bread. It swung into the spokes of the tire and was shredded. I started sobbing cause I thought this was our bread for the week - all we could afford. When I made it home, my parents laughed at my reaction. The scales fell from my eyes and I saw their protestations of poverty were false. I (57) still find I get angry when my hubby complains about some expense he has. I also made sure I had 5 year goals from high school on so I would not make my family live under the same yoke of poverty my parents kept us in.
Same here. Parents could never afford clothes. I had 2 outfits and had to wear the same thing every weekend. When it got really bad, my parent got used clothes from her friends kids who were much older. Imagine being 5'2" and wearing jeans for girl who is 5'9".
It must be annoying to be the one in charge of keeping the house going and managing the kids and then being accused of overspending. He should manage the home and kids for 3 months and then his opinion can be more respected. Toilet paper and school supplies don’t just magically appear.
If you've lost properties in the past because you didn't have margin, why not pay down the properties you have and have less risk? This hunger to get more properties is the root of their stress.
I agree, I don’t understand this. Of course, he could put less into his TSP and pay down something…or sell one and put that toward the others. These cannot be expensive properties..isn’t the total like $700k?
I’ve been where she is. All the weight of day to day financial decisions on her, and the scrutiny and pressure from him. It didn’t end well after 25 years and 3 kids for me. Wishing them the best. I suggest ongoing counseling ❤🙏🏻
@amykean6125 you forgot how the money was made in the first place. That would be a very important part of it. You should stop with the side taking B.S.
It’s interesting. Travis mentions how he lived amongst 7-8 income earners, and the effect it has on his kids. But I do think it’s affecting him and his wife as well. When you’re surrounded by more wealth than you have. It doesn’t matter how rich you are, you’ll always feel poor. It’s amazing to me that someone in the 1% income bracket + 7 rental properties with a small mortgage between all of them still feels poor. Most Americans would kill to just own their own home.
“I can’t imagine how all this is going to come out when you publish,” he says, looking fleetingly concerned…. Blankfein insists he is “well-to-do”, not rich. “I can’t even say ‘rich’,” he insists. “I don’t feel that way. I don’t behave that way.” -- Lloyd Blankfein, Former Goldman Sachs CEO (Net Worth = $1.16B USD)
I feel broke. Inflation is killing me and I have a LOT of stocks and investments. I am cash poor because I will not allow myself to do ANYTHING. I don't go to movies anymore, i have cut cable and streaming for over 4/5 years, I live almost like I am homeless. All of this to retire and not eat Cat food and have money later in life. My only "happiness" is free stuff like UA-cam or Facebook videos on my computer.
I’m damn near poor and been around wealth and it doesn’t affect me at all. Not saying you’re wrong but being that my worth is in art and not in posting on line and trying to do what others do, I’m chilling. I’ve been doing rich life stuff apparently in 30g a year salary lol
@@edwardaldrich7213How much do you need to retire? I feel like you may already might be at a good spot and maybe start enjoying a tad bit. Not all of it, but maybe a $10 streaming service or a nicer pillow or some better quality tires than usual, when it’s time to replace. Early on “watch the Pennies and the dollars will take care of them selves.” But once you are established, “Don’t step over the dollar to pick up the dime”
Truly not trying to be mean or offensive… but I think he dislikes his wife. He talks about himself first, throws in his kids a little, nothing on a future with her… seems like she’s an employee to him and is being judged on performance. Poor woman. If she were my friend I would advise her to get a job of her own when she feels like her youngest is old enough and start learning her value and worth cause he’s tearing her down.
Her rich life goals were literally to spend time alone. Nothing about him either. Just bc someone has specific desires to spend time doing something they love by themselves doesn’t mean they inherently dislike their spouse
They both are working hard. Being the sole provider is hard work, too. With inflation, both parties, stay at home mom and dad, the sole provider, will feel it.
Travis is very telling at 13:16 when he is describing what freedom from money would mean to him. He is teaching English abroad or building things for months in another country. Never at any time does he say it is going to be great to spend his time with his family when he retires. He is off saving the world on his own. There is no future for his kids and wife in his plan. This couple has major issues aside from financial.
Red flag: military family. Always has one person "checked out".... disconnected. What's reasonable costs to a mainland parent vs. World traveler... liv8ng in a different culture, different country, different perception.
If you stuck around to the 38:00 timeframe, he talked about taking their kids on service projects, past and in the future. Dude has good values and is sharing them with his children. Sounds like he just wants to do more of that.
Your series changed me and my husband's thinking by 180 degrees. I have a degree in economics, with over decades of experience in the financial field, and no one has ever explained to me how to use money, neither in the degree nor at any point in my life. Thank you Ramit ❤️ Dorit and Shay Salomon, Israel
Throughout the podcast I kept hearing indications that they were used to following Dave Ramsey. The whole budgeting, every dollar has a name and you tell it what to do, thing. Beans and rice. Etc. The rigidity of the DR approach ties in well with Travis' military background, where there is one right way to do everything. They needed to be able to take that figurative step back and realize that they are doing far better than most and that they *will* be okay (50% pension inbound in the next couple of years plus 7 income properties). Tomorrow is not guaranteed. Their kids are tweens and older. Now is the time to cut themselves a little bit of slack, make some memories. Ramit is so helpful with getting people to look at things from a different point of view.
Investing into real estate with debt is NOT the Ramsey way. They may have picked up Ramsey teachings along the way, but that isn't what they are doing.
I'm guessing, but many of us think property is cash-flowing, but there are costs that are sucking up your money and your life. So slow down, enjoy your family and sell the property that is the least profitable. You have alot of life left to keep making money, but you have limited time with your kids. Your family is Mission One. Don't waste it (I speak from experience).
A mum rIsing 4 kids alone has many random expenses. How can Travis expect to understand her need for money if hes deoloyed? Thats not fair on Natalie. As a mum I have random expenses abd cost of living is affecting all our bydgets dauly. He should stiop coin counting and make more money.
The marine should not have gotten married or have children which require eating food, driving cars, celebrating birhdays…why did he have children if he wanted to invest all his money?
I don't understand. Income of 10000 a month and you are tight with money. Where in the video is the explanation? There are vague statements of 100% fixed expenses and 7 income properties. The whole video I sat there with the question. I have no clue.
The first 6 minutes of this interview got me. Husband thinks they spend $750 to skate at the park and eat pizza 🤔, in reality wife spends less than $200 😅... classic dad not knowing what's going on 🎂
@@moobyworldmine part of the birthday was a fishing trip which I think hadn't happened yet which would be another 80-90 so 10 to 20 over not double or quadruple the original budget
First time listening, I LOVE this format! I'm so used to hosts being so dramatic and having callers in who are terrible with their money. It feels like watching the financial version of jerry springer. This was so helpful and insightful! New subscriber!
I love this couple! They had to buckle down during hard times but they can stop white knuckling their life now. A balanced approach to daily life sounds so much better. They won’t regret it!
She doesn't have a money or spending problem. He has a money problem. And he should fix it because some of the points that she's stating is not the reason why your money is right. If you upped the money y'all would be swimming in cash. Especially the way she spends frugally
When he retires they need to move out of Orange County to a much less expensive area where their children's friends aren't mega wealthy. Live on less in a less expensive area.
This couple are good in handling money. However, the husband’s laser focused goal orientation is almost psychopath level. The wife is trying to balance things. Making memories as a family makes life worth living.
Micromanagement their money is going to lead them to divorce. They need to establish negotiated boundaries on how they will spend money. Then the hard part. He needs to trust her to spend within them.
@@amyjones4007 hmm pretty sure they said they have no debt on these rentals, just their prime residence’s mortgage. I would hope people who are watching this show has the fundamental knowledge of how net worth is calculated 😅
Well this is my opinion. Travis is a miser. He doesn't care about the happiness of his wife & children but is totally selfish, self centered & wants a big bank balance & assets for himself. On the other hand Natalie is doing her best to keep peace & balance the finances. She sacrifices her own happiness and comforts. Which child or wife wants to go for a holiday & then do community work. I'm sure these kids are going to kick their father out of their lives once they are adults.
I just started watching Ramit's videos. He is more than a financial guy. He is a positive, empathic life counselor. He turns feelings into words so they can be examined along with the numbers. Fun to watch.
Natalie eyes look VERY sad. Her heart is broken. God bless her and husband. I pray Travis really look at her soul and show compassion. Travis you are a control freak...so am I so no judgement😂. Love on your wife. She's feeling drained. ❤
They didn’t have decades to go- taking $1,000 a month from savings. They had less than 6 years of that- and they’d be at $50,000. He made her feel as if she was crazy.
You cannot "allocate" money to an online shop that's a"catch all" for everything. You can say that the card linked with Amazon cannot go above 'this' spend every month. But that cannot be low balled like 100$ and done.
This was amazing! Well done Natalie and Travis. You are impressive…..with what you have done prior and then a change to a better future….for you both personally. Loved this conversation and resolution.
Congrats on Netflix! Look forward to watching. This episode was awesome. Very cool hearing from a military couple. I can definitely relate to wanting 30k in gold under my mattress in case the financial system collapses... One idea for Travis if you see this: totally respect the humanitarian energy but perhaps direct it to domestic causes. Volunteer tourism typically does more harm than good and often the people in countries we consider poor don't actually want our help.
I don't think he would fit into the "volunteer tourist" category. As a marine, he'd have amazing skills to share after natural disasters, in war-torn countries, etc. He's not just a random Joe looking for a cheap way to travel.
@@mdbarton1979 That's true but he mentioned Mexico, Thailand, and Indonesia, all of which are major tourist destinations. I've traveled through Mexico and Thailand and can say they have wealthy, middle class, and poor people just like the US. It's actually ironic because a lot of the Americans you meet in those countries are poorer than the locals. He doesn't need to seek out poor people to help in countries like that when there are plenty in his backyard.
@@bryce3323yes 100% so glad someone said this. I’ve also always felt it was weird to take your kids to show them the poor in another country as if those poor people are some kind of way to build self improvement in the rich. It’s weird.
Respectfully, I feel like his life is a checklist. I know someone a lot like him (who is in the Navy), and he achieves incredible things and feels unfulfilled because his checklist isn't complete. He needs to tone it down or he'll spend his entire life chasing the next checklist item, and be on his deathbed realising he missed out on so many small moments in his life.
I feel bad for Natalie, that’s why SAHMoms feel frustrated if all the weight of the household is on her. I can’t imagine not having money and relying everything on my partner. I want to buy stuff on Amazon and i don’t want someone to criticize my purchases that aren’t even that expensive, imagining i make all the meals and then I get scrutinized for small purchases? Uhm no. 😂 wont work for me
0:00 Please remember: These are real people who had the courage to come on my podcast and ask for help. Would you be willing to come on this podcast and share every detail of your financial life? Feel free to leave comments based on what you think, but remember that we are here to help in a supportive way, not to demean and criticize.
Only people from the US?
I'm trying to help my friends see the lense of financial freedom and they can't grasp it. Yet I am able to stay at home with my new born twins while they work day in and day out.
42:54
Outstanding segment . Thank you all for the courage to share!!
😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅ooooooooooooooooooooiiooooooooooooooooooooooooooooooooooooooooooioooiio😅o😅oooooooooooo😅😅ooo😅oooioooooooooooooooooooooooooooooooooooooooiiiooooooooiiioooooooooooooooookoooooo😅o😅ooooooooooooooooo😅o😅oi😅😅 I oooioooooooooooooooooooooooooooooooooooooooiiiooooooooiiioooooooooooooooookooooooo ooippp the best of all things oiiooooooiooooooooooiioioooooooooioooooooooooolooolllkooooioooooooookioooooooo you o ooki😊ioooiiiiooooooooooooiooooooooooooioiioooooooooooooooliiiooooooooooloooooiioooooo
Oh my gosh. At 28:05 when you said, "Celebrating is a really important skill" I think Travis is literally taking note of that--he's writing it down. You spoke his language. A skill? He's like, ooh, a skill I'm lacking? I'm on it! Hahaha.
This episode was really great because both guest truly were open to feedback and wanted to improve their situation.
That's military for you. For fun my brother-in-law practices wilderness survival, learns Russian, and cooks. Zero materialism. Military also has the total opposite, I don't think they stay in that long though.
That's a hilarious observation. I wouldn't have caught that. Thanks for pointing it out lol
Adorable
I remember Dave Ramsey’s daughter was with a caller and she said “women buy things that the whole house needs and often get blamed for spending too much, but it’s because they’re taking care of buying for everyone”. I think it’s easy to think a purchase was unnecessary when you don’t really know what was needed to begin with. They seem super solid and wow, very inspiring as far as setting yourself up for a rich financial future. Great episode
I love that take. It's honestly really true for a lot of households
I think there are 2 fascinating aspects in this show. 1. We can see that everyone has a very unique relationship with money, and Ramit tries very hard to convince them that their individual viewpoint may not be the only way to look at things. 2. Ramit is great at responding positively to almost anything someone says, makes them comfortable and then delivers a counter-argument if any. This way you don’t feel like the disagreement is with the person, but with the viewpoint. This itself is a niche skill, and would end millions of arguments within couples all over the world. I would recommend every couple to watch at least 5-10 episodes of this show for a happier married life!
I lost it when Ramit started counting fingers over the properties, lol. Perfect comedic timing! Iconic. Need this as a GIF.
I read this just before this part. I couldn’t agree more, perfect GIF
So was the big takeaway this week that they are not able to meet all their needs because they were actually over-investing? Sounds like with four kids, their expenses have gone up but they haven't really acknowledged that or adjusted their spending plan to reflect their new reality.
It's sad to hear they tell their kids they can't afford things when the reality is they can, but they're still too focused on the future-a future they've more than amply prepared for. I'd much rather they tell the kids they won't be buying something in service of a bigger goal. That's a more honest approach and a better lesson. But it also sounds like they're living a more austere life than they truly need to.
Absolutely! I think with some decent communication, a restructuring of their goals and giving themselves a bit of grace they’d find a lot more peace. They seem to have been making it pretty hard on themselves by being so strict about their money. Travis has set an unreasonable budget so that they can invest, I also don’t think that he understands the burden for Ashley to live under this harsh budget while taking care of the house and children. I think all of his concerns and hers could be alleviated if they got to redoing their budget they’ve put off for a year and actually made it reasonable - all spending if going to seem frivolous if it’s coming out of savings.
I agree. I stopped this recently and tell my kids “I can’t get that because I’m saving for an emergency. I’ll see if it can fit in the plan next month.”
I hope Travis learns to trust Natalie's judgment more when it comes to spending on the kids and house. Like if there ever was a time to believe your spouse when they say prices have gone up, it's now!
I'm a recovering optimizer. Sometimes enough is enough and you and your family have lives to live 😌
Impossible to watch this as a couple without re-analysing your own situation. 😮❤😂🎉
Really great hearing this video...and what a great couple Natalie/Travis, I'm happy for them and the success they've accomplished at an early age - please take more time to celebrate!!!. Like Travis I constantly moved to the next project/mission (leveling up), and had a hard time celebrating the journey which I've started to do now. Great show!
Great comment!
Your Netflix show started me on the journey to change my whole outlook on personal finances. I straight away found your podcast on Spotify and then finally found your wonderful UA-cam Channel. My whole psychology has changed and I am on the path to living my Rich Life after difficult decisions. I hope many many many other people benefit from your advice. You are making positive changes in so many peoples lives. Nice work Ramit 🙂
It's kind of weird that this retirement in 4-5 years doesn't include a vision that has his family as part of it.
Love this podcast and look forward to it every week. Been a follower for 10+ years. The music at the end of each episode sounds like you are being played off stage though 😂
This was a very good video! Thank u to Travis and Natalie for sharing their story. Sending best wishes to them!:)
Wonderful advice to an awesome couple. I hope they live long, healthy, happy lives!
41:32 Mic drop Ramit!!! Always getting to the core of it. Amazing 🤩
I feel sorry for this woman
Don't. She's probably waiting it out to cash in on a military divorce where she gets half of his pension and military benefits the rest of her life and half the properties. The husband doesn't realize his controlling ways is what's going to cost him everything. He doesn't foster teamwork or harmony.
I think what would make her feel financially safe is knowing she won’t be in major debt again after short selling 6 properties (which is unrealistic)… she’s traumatized.
I was in a similar situation but with only 2 kids. I like spending on the family. My husband likes spending on our rentals. He wouldn't mind spending 1600 on the washer/dryer for our rental house (even though we're not required to provide them to tenants) but he thought our 1300 dollar stroller was a lot. We had so many disagreements over spending. Now, I work 2 days a week and that is my spending money. His investments keeps us afloat. It seems to work for us. It's complementary to have a "cheap" person to make sure budgets are met and a "spendy" person to make sure we enjoy ourselves. Not every couple is on the same page financially but their marriage can still work. Our method may not be right for everyone but it works for us.
My Amazon strategy is to put items in the cart, but only place an order once or twice a month. I also consolidate the deliveries to one day to streamline the unboxing and putting away. This couple is like two peas in a pod! Hurrah!
Congratulations Ramit! I loved this new format, and look forward to watching, learning, and implementing more. Thank you.
We all may think differently but that’s the point of his great question at 12:53
Money to me:
1. Abundance
2. Opportunities
3. Freedom
Very hard going from saver/investor to retired early/spender.
But I’m figuring it out.
Enjoyed your Netflix show. I got out of debt completely over a year ago and paid off a car within 10 months last year. I have no debt and plan to stay that way.
Started listening on Spotify and got so curious of the visual. Thanks for leveraging all the platforms! Very well done.
4 kids and u surprised you have no money?? Kids drain you financially, theycause so much stress. Don’t think people can afford more than 1 child these days. Not dumping on people who want children, but need to think what they are going to cost overall, as Travis said, anything can happen. Explains why people are opting to NOT have children, birth rates are plummeting. Watched my parents struggle all their lives, we lived hand to mouth, they died with nothing , they had too many mouths to feed.
Loved this! Thank you both for your courage and for sharing your knowledge.
Such valuable information! I am glad you have a variety of people on because we all can learn from each one regardless of our financial situation. Thank you for this UA-cam and Podcast and for the people sharing. Actual information everyone can use and not all the other junk on the internet! Kudos Ramit! I admire how your changing the financial landscape and the status quo!
I think Travis is a little controlling, they should view things more as a team. Amazon is fine if it frees up time for the wife to spend more time with their kids.
It also seems like he is bringing his military perspective/background into the family budget, for better or worse.
Don't think so when his wife is spending and he's the sole provider. If its not in the budget it should be tslked about.
@@ericheart1198 If he doesn't trust her judgment as a partner then he shouldn't have married her. He isn't the "sole provider", she runs the household and keeps the kids engaged in school and activities so he can focus on buying rental properties and "teaching English in Asia" (🙄) or whatever else his business and career goals are. That's how she provides for their lives.
@vulpixelful He's the sole provider in finicially taking care of the family, which is imperative. I never said he didn't trust her. It seems she doesn't completely understand from a monetary level.
@@ericheart1198 He clearly doesn't trust her if she has to justify every single little purchase, and doesn't understand that inflation + children has increased their fixed and variable costs.
Earning potential can be increased by taking the _time_ to research and grow skills. That time ain't cheap. The fact that she gives him more _time_ by taking care of very important duties like running a household is a financial contribution. Watch more of this channel and others to really understand time value ✌🏾
@vulpixelful I don't think you quite understand. Yes, inflation is at an all-time high, but adjusting should be something everyone should be doing. Especially if your income hasn't changed. I don't see an issue with explaining what she's spending on a daily basis when they are living off his income. They do, however, need to communicate better as a couple.
The over saving seems like the biggest problem they have limiting their household needs. I would cut that down and see if there was a property in which money could be placed to pay it down and increase your monthly income. Or it might be time to sell one or two or even consolidate into a larger property. Without seeing all the numbers its hard to have a direction about things which could be done. But I think the take a way is definitely correct, use the money today to enjoy the things you need. I guess if weekly nails are that important, do that but that too can be pricey. There's nothing wrong with having a "saving mentality" but when it comes time to spend a little of that money, then you should.
Great advice and great video!!! You are a very wise man!!!!
I watched the Netflix... i like these better though... they get to the point faster and there is more emotional depth and less fluffy filler... but what u do is awesome and sooooo needed 💚💚💚🙏
Love this episode and watching every time in youtube Ramit!
Are all their properties mortgaged? Because that is why they live in fear. The bank owns “their” properties. This was a very unclear episode. More questions than answers.
I guess we don't know what kind of a property they own. Def need more info to understand what 7 properties consist of
after 70 I'm not having enough energy to spend the money on vacation.
In seven years your children Will be too busy to go.
love this show, I too make a good living but just never feel safe that expenses keep going up and I have to keep saving and investing to make more to keep up.
Hi Ram this is Sagar. I started watching your show on the release date and continuously watched 4 episodes. I will watch all your episodes. I am a big fan of you
Big fans of your show! Would love to have you on ouur podcast. Keep up the good work!
How do get 7 properties in about 900K - that's like 120K per property. Do they own apartments on low cost geo?
The assets take into account the debt (mortgages) on those properties. You have to subtract the debt from the value of the homes.
Thanks for sharing
I also own 3 properties and don’t have enough for groceries. I don’t want to get a loan because I don’t have bills just a mortgage payment.
Control is Travis’ biggest issue. And he could have it if he were willing to do all the shopping and spending.
I'm confused...how do they have problems with money????
Loved this episode so much! 🤍
Scarcity Mindset...Pobresitos...GOD BLESS THEM...😟
Congrats on the new show!
you can use one of your properties to grow green grocery
Ramit is there a way for me to have a private consultation? What is your charge of private financial consultation? Please let me know how I can get in touch with you.
There are poor rich and rich poor this are rich poor they are so worried about making money that they don't enjoy what they have ,whene you died you only take what you enjoyed and the good time and memory you spent with your family ,no money is enough for this two they should be grateful they have accomplished so much with so many people in the world that don't have a roof over their head or food on the table
You choose to do other things with your money. “Can’t afford it” isn’t really it….you value other things….
How much money do they acquire from their rental properties a month? And how much do they pay in property taxes and home/rental insurance. Thats alot of money I imagine, all that is not cheap. Its expensive to own a 🏠
They live above their means. For sure.
Let’s go devil dog!!! You got this!
This guy has an incredible generous spirit, he’ll go far… lucky their kids
Complete insanity!
Such a wonderful show. I love how respectful you are to your guests, you guide them on new paths, rather than just lecturing them
I grew up with a parent who constantly told me we couldn't afford things and he wouldn't even come to my high school theatre shows because it cost $7 for a ticket. In truth the reality was the opposite of what he said and if I could tell these 2 on this episode anything it's that you will make your kids feel like your money is more important than them. It's not about saying yes to everything they want or "spoiling" them or spending more than you have just for them... It's about making them feel like a financial burden.
and trust me when i say they do realise when you tell them you dont have any money for them and they see you buying smokes and alcohol every single week..
@@qwertyqwert2772I realised it....they would always get alcohol...but would rant about money even for my essential stuff
I feel this in my bones. I am the youngest of 4. Both parents worked but mom was the source for all the daily expenses so we lived frugally while my dad spent on himself. We never had money to go on vacation, mom made clothes for us, we always heard how money was tight. Then I (10 years old) was returning from the store (on the bike I had to pay for) with a loaf of bread. It swung into the spokes of the tire and was shredded. I started sobbing cause I thought this was our bread for the week - all we could afford. When I made it home, my parents laughed at my reaction. The scales fell from my eyes and I saw their protestations of poverty were false. I (57) still find I get angry when my hubby complains about some expense he has. I also made sure I had 5 year goals from high school on so I would not make my family live under the same yoke of poverty my parents kept us in.
So heartbreaking that you lost a lot of your childhood joy because a a false narrative about your family's financial situation.
Same here. Parents could never afford clothes. I had 2 outfits and had to wear the same thing every weekend. When it got really bad, my parent got used clothes from her friends kids who were much older. Imagine being 5'2" and wearing jeans for girl who is 5'9".
It must be annoying to be the one in charge of keeping the house going and managing the kids and then being accused of overspending. He should manage the home and kids for 3 months and then his opinion can be more respected. Toilet paper and school supplies don’t just magically appear.
Annoying is one word for it. Fundamentally sexist against women’s gender assigned roles is more like it
No money will be enough for this couple. What’s the purpose of making money if you can’t enjoy it?
They just need balance on it
“When does the grind stop and the enjoyment begin?” Profound.
He doesn't seem to realize that he is the only one stopping that enjoyment from happening.
They can run concordance but most people don’t understand how
If you've lost properties in the past because you didn't have margin, why not pay down the properties you have and have less risk? This hunger to get more properties is the root of their stress.
I agree, I don’t understand this. Of course, he could put less into his TSP and pay down something…or sell one and put that toward the others. These cannot be expensive properties..isn’t the total like $700k?
I’ve been where she is. All the weight of day to day financial decisions on her, and the scrutiny and pressure from him. It didn’t end well after 25 years and 3 kids for me. Wishing them the best. I suggest ongoing counseling ❤🙏🏻
No.... get their financial house in order. They will be happier.
@amykean6125 you forgot how the money was made in the first place. That would be a very important part of it. You should stop with the side taking B.S.
It’s interesting. Travis mentions how he lived amongst 7-8 income earners, and the effect it has on his kids. But I do think it’s affecting him and his wife as well. When you’re surrounded by more wealth than you have. It doesn’t matter how rich you are, you’ll always feel poor. It’s amazing to me that someone in the 1% income bracket + 7 rental properties with a small mortgage between all of them still feels poor. Most Americans would kill to just own their own home.
“I can’t imagine how all this is going to come out when you publish,” he says, looking fleetingly concerned…. Blankfein insists he is “well-to-do”, not rich. “I can’t even say ‘rich’,” he insists. “I don’t feel that way. I don’t behave that way.” -- Lloyd Blankfein, Former Goldman Sachs CEO (Net Worth = $1.16B USD)
I feel broke. Inflation is killing me and I have a LOT of stocks and investments. I am cash poor because I will not allow myself to do ANYTHING. I don't go to movies anymore, i have cut cable and streaming for over 4/5 years, I live almost like I am homeless. All of this to retire and not eat Cat food and have money later in life. My only "happiness" is free stuff like UA-cam or Facebook videos on my computer.
@@edwardaldrich7213sounds like a terrible life
I’m damn near poor and been around wealth and it doesn’t affect me at all. Not saying you’re wrong but being that my worth is in art and not in posting on line and trying to do what others do, I’m chilling. I’ve been doing rich life stuff apparently in 30g a year salary lol
@@edwardaldrich7213How much do you need to retire? I feel like you may already might be at a good spot and maybe start enjoying a tad bit. Not all of it, but maybe a $10 streaming service or a nicer pillow or some better quality tires than usual, when it’s time to replace.
Early on “watch the Pennies and the dollars will take care of them selves.”
But once you are established, “Don’t step over the dollar to pick up the dime”
Truly not trying to be mean or offensive… but I think he dislikes his wife. He talks about himself first, throws in his kids a little, nothing on a future with her… seems like she’s an employee to him and is being judged on performance. Poor woman. If she were my friend I would advise her to get a job of her own when she feels like her youngest is old enough and start learning her value and worth cause he’s tearing her down.
Her rich life goals were literally to spend time alone. Nothing about him either. Just bc someone has specific desires to spend time doing something they love by themselves doesn’t mean they inherently dislike their spouse
I feel for Natalie, running a household and kids takes up so much time. No wonder she feels that time is such an asset
They both are working hard. Being the sole provider is hard work, too. With inflation, both parties, stay at home mom and dad, the sole provider, will feel it.
This is insane. Why would they do this to themselves. They have no control.
Travis is very telling at 13:16 when he is describing what freedom from money would mean to him. He is teaching English abroad or building things for months in another country. Never at any time does he say it is going to be great to spend his time with his family when he retires. He is off saving the world on his own. There is no future for his kids and wife in his plan. This couple has major issues aside from financial.
Red flag: military family. Always has one person "checked out".... disconnected. What's reasonable costs to a mainland parent vs. World traveler... liv8ng in a different culture, different country, different perception.
Exactly. Concerning
Wow
If you stuck around to the 38:00 timeframe, he talked about taking their kids on service projects, past and in the future. Dude has good values and is sharing them with his children. Sounds like he just wants to do more of that.
Around 37:00, he goes into way more detail.
Ramit actually asked a mom of 4 kids when was the last time she had leisure time 😂😮🤔
The youngest is 11 years old and in school all day. It's not like she has 3 kids under age 5. It's not a crazy question.
Your series changed me and my husband's thinking by 180 degrees.
I have a degree in economics, with over decades of experience in the financial field, and no one has ever explained to me how to use money, neither in the degree nor at any point in my life.
Thank you Ramit ❤️
Dorit and Shay Salomon, Israel
Same here. I’ve never cared about money and I found Ramit Feb 8th and my whole understanding and approach is changed
Throughout the podcast I kept hearing indications that they were used to following Dave Ramsey. The whole budgeting, every dollar has a name and you tell it what to do, thing. Beans and rice. Etc. The rigidity of the DR approach ties in well with Travis' military background, where there is one right way to do everything. They needed to be able to take that figurative step back and realize that they are doing far better than most and that they *will* be okay (50% pension inbound in the next couple of years plus 7 income properties). Tomorrow is not guaranteed. Their kids are tweens and older. Now is the time to cut themselves a little bit of slack, make some memories. Ramit is so helpful with getting people to look at things from a different point of view.
Investing into real estate with debt is NOT the Ramsey way. They may have picked up Ramsey teachings along the way, but that isn't what they are doing.
I'm guessing, but many of us think property is cash-flowing, but there are costs that are sucking up your money and your life. So slow down, enjoy your family and sell the property that is the least profitable. You have alot of life left to keep making money, but you have limited time with your kids. Your family is Mission One. Don't waste it (I speak from experience).
A mum rIsing 4 kids alone has many random expenses. How can Travis expect to understand her need for money if hes deoloyed? Thats not fair on Natalie. As a mum I have random expenses abd cost of living is affecting all our bydgets dauly. He should stiop coin counting and make more money.
The marine should not have gotten married or have children which require eating food, driving cars, celebrating birhdays…why did he have children if he wanted to invest all his money?
I don't understand. Income of 10000 a month and you are tight with money. Where in the video is the explanation? There are vague statements of 100% fixed expenses and 7 income properties. The whole video I sat there with the question. I have no clue.
They need to do a better job (mainly ramit).
The first 6 minutes of this interview got me. Husband thinks they spend $750 to skate at the park and eat pizza 🤔, in reality wife spends less than $200 😅... classic dad not knowing what's going on 🎂
Completely false cause they did go over budget.
@@moobyworldmine after expenses. The husband stated it.
@@moobyworldmine part of the birthday was a fishing trip which I think hadn't happened yet which would be another 80-90 so 10 to 20 over not double or quadruple the original budget
Nothing to do with dad. It's the person.
@@moobyworldminehe said at first that they went over then she said they didn’t.
First time listening, I LOVE this format! I'm so used to hosts being so dramatic and having callers in who are terrible with their money. It feels like watching the financial version of jerry springer. This was so helpful and insightful! New subscriber!
I love this couple! They had to buckle down during hard times but they can stop white knuckling their life now. A balanced approach to daily life sounds so much better. They won’t regret it!
Resilience ❤
True poverty is having 800k & feeling poor when there’s 10k people that feel rich
She doesn't have a money or spending problem. He has a money problem. And he should fix it because some of the points that she's stating is not the reason why your money is right. If you upped the money y'all would be swimming in cash. Especially the way she spends frugally
I got promoted but let's not celebrate by getting ice cream with my family. 🤦
I’m learning so much from these podcasts - not just about money, but my own psychology about money from learning from the guests on the show
When he retires they need to move out of Orange County to a much less expensive area where their children's friends aren't mega wealthy. Live on less in a less expensive area.
For the couple at 37:16, does his kids want to go do those adventures and build houses in Mexico or is that just his dream? Seems one sided.
This couple are good in handling money. However, the husband’s laser focused goal orientation is almost psychopath level. The wife is trying to balance things. Making memories as a family makes life worth living.
Micromanagement their money is going to lead them to divorce. They need to establish negotiated boundaries on how they will spend money. Then the hard part. He needs to trust her to spend within them.
Wait 7 properties and assets are only 800k . Am I just losing my basic math skills?
Maybe they are subtracting the mortgage on the properties... That's the only way it makes sense to me.
Asset = value of property - debt on those properties
@@amyjones4007 hmm pretty sure they said they have no debt on these rentals, just their prime residence’s mortgage. I would hope people who are watching this show has the fundamental knowledge of how net worth is calculated 😅
Net worth = the equity
I hear shiver in her voice, thats from lack of confidence from a partner. Be on same page people and trust your partner (emotionally and financially)
Well this is my opinion. Travis is a miser. He doesn't care about the happiness of his wife & children but is totally selfish, self centered & wants a big bank balance & assets for himself.
On the other hand Natalie is doing her best to keep peace & balance the finances. She sacrifices her own happiness and comforts.
Which child or wife wants to go for a holiday & then do community work. I'm sure these kids are going to kick their father out of their lives once they are adults.
I just started watching Ramit's videos. He is more than a financial guy. He is a positive, empathic life counselor. He turns feelings into words so they can be examined along with the numbers. Fun to watch.
A dumb question, what are they doing with the money that comes in from the properties???
Good question ❓
So freedom from money for him wouldn’t mean he could spend more time with his family and kids? 🤔
He shouldn't be so sure he's gonna get a 100% disability rating for just deploying. Hatder than he thinks.
Natalie eyes look VERY sad. Her heart is broken. God bless her and husband. I pray Travis really look at her soul and show compassion. Travis you are a control freak...so am I so no judgement😂. Love on your wife. She's feeling drained. ❤
No no no 😊
@@victorbaird8220 Yes. Yes. Yes. Enjoy your day!
They didn’t have decades to go- taking $1,000 a month from savings. They had less than 6 years of that- and they’d be at $50,000. He made her feel as if she was crazy.
With 7 properties that are cash flow positive, they should be OK for the future once those properties are mortgage free
You cannot "allocate" money to an online shop that's a"catch all" for everything. You can say that the card linked with Amazon cannot go above 'this' spend every month. But that cannot be low balled like 100$ and done.
This was amazing! Well done Natalie and Travis. You are impressive…..with what you have done prior and then a change to a better future….for you both personally. Loved this conversation and resolution.
Congrats on Netflix! Look forward to watching. This episode was awesome. Very cool hearing from a military couple. I can definitely relate to wanting 30k in gold under my mattress in case the financial system collapses... One idea for Travis if you see this: totally respect the humanitarian energy but perhaps direct it to domestic causes. Volunteer tourism typically does more harm than good and often the people in countries we consider poor don't actually want our help.
I don't think he would fit into the "volunteer tourist" category. As a marine, he'd have amazing skills to share after natural disasters, in war-torn countries, etc. He's not just a random Joe looking for a cheap way to travel.
@@mdbarton1979 That's true but he mentioned Mexico, Thailand, and Indonesia, all of which are major tourist destinations. I've traveled through Mexico and Thailand and can say they have wealthy, middle class, and poor people just like the US. It's actually ironic because a lot of the Americans you meet in those countries are poorer than the locals. He doesn't need to seek out poor people to help in countries like that when there are plenty in his backyard.
@@bryce3323yes 100% so glad someone said this. I’ve also always felt it was weird to take your kids to show them the poor in another country as if those poor people are some kind of way to build self improvement in the rich. It’s weird.
@@bryce3323 I think its called "white saviour" complex
@@mygoodlife204very much white savior complex
Respectfully, I feel like his life is a checklist. I know someone a lot like him (who is in the Navy), and he achieves incredible things and feels unfulfilled because his checklist isn't complete. He needs to tone it down or he'll spend his entire life chasing the next checklist item, and be on his deathbed realising he missed out on so many small moments in his life.
He is military....
This couple was a joy to listen to. They really listened to what was being said and paused to consider and digest. 👍👍
Land rich & Cash poor!! Same as generations of the idle nobles in the UK beginning after the Napoleanic wars & then again after WWI!!
I feel bad for Natalie, that’s why SAHMoms feel frustrated if all the weight of the household is on her. I can’t imagine not having money and relying everything on my partner. I want to buy stuff on Amazon and i don’t want someone to criticize my purchases that aren’t even that expensive, imagining i make all the meals and then I get scrutinized for small purchases? Uhm no. 😂 wont work for me