Ramit Sethi Profile picture
Host of @netflix "How to Get Rich" & the I Will Teach You To Be Rich podcast. Get my new money insights every Saturday 👉🏾 https://t.co/4ICLQHXj8x
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Jun 12, 2023 8 tweets 2 min read
Examples of a Rich Life:

* Grocery shopping without considering price
* Spontaneously extending your vacation by a day
* Buying popcorn at the movies
* Handing out full-size candy bars for Halloween
* Buying a $100k car that you love every time you sit in it A Rich Life is your ideal life — one where you look at your personal relationships, your finances, & your ordinary days & say, "Wow, I love this!"

What is YOUR Rich Life?
Jun 7, 2023 4 tweets 1 min read
To design your Rich Life, be ready to turn down lots of common advice

- No, I don't need to save on lattes
- No, I don't need to chase 5,000 CC pts
- No, I don't need to buy a house
- No, I don't need to invest in PE/VC/crypto Your Rich Life is YOURS

And the more dialed in you get with your Rich Life vision, the less it should make sense to anyone else

Develop your own philosophy!
May 18, 2023 9 tweets 2 min read
Answer these 4 questions to EARN MORE...

One way to make sure you can live a Rich Life is to earn more — I’m the biggest fan of this idea

There’s a limit to how much you can cut, but NO LIMIT to how much you can EARN

Many IWT students have started a side businesses to do this The truth is — to start a business — you need:

- brainstorming of ideas
- refining the ideas
- testing to see if the ideas work
May 17, 2023 6 tweets 2 min read
Many people believe that “investing = picking stocks,” which stops them because it's intimidating

“How am I supposed to know what to buy?”
“What's a good price?”
“What's a P/E ratio?” Image You have lots of great investing options

In general, individual investors should AVOID individual stocks & focus on index funds or (my favorite) target-date funds
May 16, 2023 7 tweets 1 min read
Let’s play a game called DID I WASTE MY MONEY OR NOT?

Around 17 years ago, I bought a new car. Did I waste my money or not?

(More below) I’ve rented for ~20 years in SF, NYC, and LA. Did I waste my money or not?
Apr 27, 2023 4 tweets 1 min read
What do you wish you learned about money earlier? I love hearing your answers to this question

Some people grew up with a healthy money mindset

But many weren’t taught anything about money because it wasn’t discussed in their family
Apr 26, 2023 4 tweets 1 min read
What's something you happily paid over $1,000 for?

What made you so happy to spend money on it? Past answers that people happily paid over $1k include:

- Paying for movers
- Wedding planner
- Tesla
- Disney VIP tour guide
- Building an at-home gym
- Vacations
Apr 25, 2023 4 tweets 1 min read
What’s the most you’ve spent on a vacation?

Was it worth it? Why, or why not? Part of my Rich Life: Being able to travel 2+ months/year, creating magical experiences w/loved ones, staying at my favorite hotels

And it's ok for me to spend money on travel, because I've "dialed up" that part of my life & cut back mercilessly in other parts
Apr 24, 2023 14 tweets 2 min read
A common mistake people make when setting their Money Rules is that they're focused on saying NO

Most of my Money Rules are about saying YES!

It took me years to develop my Money Rules, & I love sharing them so you can see what I love and value

Here are my 10 Money Rules: 1/

Always have 1 year of emergency fund cash
Apr 17, 2023 5 tweets 1 min read
I'm doing a press for the show. 1 of the most common questions: "How does someone who always feels behind w/money, who has nothing left at the end of the month, deal with it?"

I reject the premise of this Q

Why are so many questions centered around us feeling BAD with money? I reject the premise of that question because:

1. Many people have more than enough to pay bills and save, and they *still* feel behind. Our feelings about money are highly uncorrelated with how much we have in the bank.

2. Why is almost every topic around money NEGATIVE?
Jan 23, 2023 5 tweets 2 min read
4 paths to a million dollars

"TIME"
This conservative approach assumes you contribute about $400/month for 40 years. Very conservative because it does not factor in income growth or marriage.

The next one is... "INCOME"
This approach assumes you invest an average of $1,666/month for 22 years. Remember, this is an average. At 20, this would be difficult for most people. As you grow in your career, this becomes more possible for some. A good reason to focus on income.
Jan 22, 2023 4 tweets 1 min read
3 non-obvious signs that someone is new to investing 🧵

(Before you read on, what do you think they are?) 1. They say: "Handbags are actually good investments!"

Yes, sometimes handbags can turn out to be great investments, but no savvy investor would say this

If you want to buy an expensive bag, great! If it turns out to be a great investment, great! But don't confuse the two
Dec 2, 2022 5 tweets 2 min read
You can beat inflation by simply investing in low-cost index funds

And if you consistently invest for long enough, your portfolio can grow so large that it will pay your expenses for the rest of your life -- including your housing -- sometimes with just the *interest* alone I post that because:

1. Many people are afraid of inflation but they do not understand that to beat it, you must invest

2. So many say "If you rent, how will you afford a house in your 70s?" The answer is your investments can pay for it

This is important to understand
Oct 18, 2022 7 tweets 2 min read
Every year, my wife and I take an annual trip where we talk about our Rich Lives -- what went well, what we'd change, where we want to travel next year, and who we want to spend more time with

This is called the Annual Rich Life Review

Last year, I remember talking about going back to NYC. We met in NYC and we lived there for many years before we moved to LA

We missed it and we'd talked about going back for a few months

During our Annual Rich Life review, we finally said, "Should we just do it?"

And we decided to say YES. We knew that things might
Jul 8, 2022 10 tweets 3 min read
Remember when everyone was talking about lumber prices being SKY HIGH?

They’ve come way, way down. How come nobody talks about them now?

Because we’re anchored to bad news — and the media weaponizes this addiction (especially, but not limited to, right-wing media) Image What about gas prices? They’ve dropped 20+days in a row. Barely a whisper. If they keep dropping, we’ll be onto the next crisis, led by a media eager to exploit us

It is VERY difficult to acknowledge that people are not rational robots in poll responses

https://t.co/4OIx5PRDZk
Jul 7, 2022 14 tweets 2 min read
A common mistake people make when setting their Money Rules is that they're focused on saying NO.

Most of my Money Rules are about saying YES!

It took me years to develop my Money Rules, and I love sharing them so you can see what I love and value.

Here are my 10 Money Rules: 1/

Always have 1 year of emergency fund cash
Jul 7, 2022 10 tweets 3 min read
In college, I started working out for the first time. I spent 6 months doing DB presses at 30lbs, frustrated that I wasn’t magically putting on muscle

I didn’t know about the concept of progressive overload yet

I felt STUCK

Many of us treat our money the same way Progressive overload means methodically increasing the weight/reps to challenge yourself more and more

No advanced lifter would ever say, “I’m glad I stayed at 30lbs forever”

But many millionaires brag how they still cut coupons and optimize credit card points
Jul 5, 2022 13 tweets 3 min read
A lot of job applicants are smart, capable, and willing to put in the work.

Why don’t hiring managers see it?

Over the years, I’ve spoken to thousands of Average Applicants to learn what they did.

Here are the 5 most common job search mistakes: Mistake 1/
Going to a job board with no plan

When people go to a job search site, post a resume, and wait, they delegate their career to an algorithm.

This is demoralizing and ineffective.
Jun 23, 2022 6 tweets 1 min read
Nobody's born knowing how to pay off their loans.
Nobody’s born knowing how to buy a house.
Nobody’s born knowing how to invest.

But that can all quickly change. When you learn how to make your money work for you, you can:

-Save
-Invest
-Pay your bills on auto-pilot
-Spend more on what you love, guilt-free
Jun 22, 2022 9 tweets 2 min read
Money beliefs that keep you stressed and broke aren't worth keeping.

To get you started, here’s what I believe about money: 1. Buy all the lattes you want

A $5 coffee is not going to change your financial life. But learning how to automatically invest, how to select the right asset allocation, and how to negotiate a $15,000 raise will.

I believe in asking $30,000 questions, not $3 questions.
Sep 22, 2021 7 tweets 2 min read
How do you get over feeling guilty about spending money?

Here are a few strategies you can use to enjoy spending money on the things you love

👇 Consider why you’re feeling guilty
- Many of us think if we just get $5K or $50K or $500K more, we’ll stop feeling guilty. This is untrue
- We are guided by invisible scripts from childhood
- Most of us have never clarified what’s important to us. We try to restrict everything!