The Money Expert: "Do Not Buy A House!" 10 Ways To Make REAL Money: Ramit Sethi
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Published 2023-07-20
0:00 Intro
03:05 Why should someone stay and listen to this episode?
04:53 The language of money
06:03 Numbers we should know
09:47 How many people are clear on their rich life
15:40 Why people should think twice about buying a houses
26:00 The S&P500 & investing
37:00 Compound interest calculator
44:20 What are the characteristics of someone that will end up little money
47:44 How do I increase my income?
51:47 Optimising your skill sets
59:11 Should I invest in cypto
01:04:13 Always have 1 year of emergency funds
01:04:52 How much to invest & what you shouldn't question spending money on
01:06:30 Business class flights
01:07:54 Always buy the best
01:08:38 Always spend on these 2 areas
01:11:16 Work only with people you like
01:12:59 don't get caught up in the numbers
01:14:02 Talking about money with a partner
01:29:09 Character traits of people that will never get rich
01:33:18 The last guest's question
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All Comments (21)
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I brought in roughly $250K when I sold my Springfield flat. When my standard savings account yielded only $171 in interest, I became irate. I was told to buy stocks after completing some study. Are these stocks a suitable place to begin investing?
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I wasn't financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly basis via my investment and got 5 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made. Great video! Thanks for sharing! Very inspiring! I love this.
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the fact that nobody talks about the book called 'the hidden truths of wealth' speaks volumes about how people are stuck in a trance
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High interest rate causes house market declining, less people are buying houses. more empty comericial buildings are converted into residential condos wich results in rental declining.After covid, more people are working at home, artificial intelligence technology has eliminated many office jobs, and commercial buildings are vacant and converted into apartments.
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Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
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I greatly admire your dedication to educating your audience. We all strive for financial stability and a better life. Achieving this is possible through wise investments, frugal living, and careful budgeting. I'm thankful that I learned the importance of working hard for financial freedom at a young age.
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It's a common misconception that when a stock you buy skyrockets, the smart thing to do is sell it (or at least sell some of it) to lock in your profits. But the context matters. If the stock has increased sharply because the business is performing exceptionally well, it could still be a bargain. I'm still looking for companies to make additions to my $350K portfolio, to boost performance. Here for ideas...
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I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.
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I'd love to invest in stocks after listening to a guy on a podcast talk about the importance of investing and how he made over $300k in few months of investing into stocks from $175k initial capital, somehow this video has helped shed light on some things but I'm confused about the current market volatility I'm new to this and I'm open to ideas.
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t's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
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I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
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The not buying a house does not work in the UK as 90% of rents are higher than a mortgage cost. Also if you want to start a family you need a stable place to raise your children and with renting you can be kicked out within a few months notice and your whole life could be turned upside down.
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Started my portfolio last year with SCHD, VOO, and VUG after watching one of your videos. In terms of share price, VOO is way up (22.25%) and VUG is waaaaay up (39.62%). Thanks for the education!
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Investing in alternative income streams that are independent of the government should be the top priority for everyone right now. especially given the global economic crisis we are currently experiencing. Stocks, gold, silver, and virtual currencies are still attractive investments at the moment.
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I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
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Bought my small house and now mortgage free. Paid into a pension since 21 yrs old and now retired at 55. Not huge monthly payment but life and no longer working was always my aim and debt free. Happy, very happy.
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It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
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Nice work. I’ve been on the Blcktken300 train for a while, never sold as they are always building.
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I'm DCAing in Blcktken300 as well. ETH heavier DCA and ALGO. I'm taking your advice and starting Google tomorrow with a 50 dollar purchase and continuing Microsoft and Apple. VTI and VOO on another app and longterm portfolio. Here we go family!
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I bought a house! It's the best thing I ever did! It's launched my mindset in new directions! Remember that having your own space has profound phycological impact and can be life changing for some that dont live in a healthy environment
