How to Build a Rich Life — ft. Ramit Sethi | Prof G Markets

This week on Prof G Markets, Ramit Sethi, New York Times Best Selling author of “I Will Teach You To Be Rich,” joins the show to discuss the most common money problems people face. He offers actionable tips for navigating finances with your partner, buying vs. renting your home, and raising your kids to appreciate money. Ramit and Scott also discuss the skill of spending money well.

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Timestamps:
00:00 - Today's number
00:18 - Today's episode
01:03 - How to Build a Rich Life — ft. Ramit Sethi
01:07 - How crucial is owning a home for financial success amid rising home prices and limited access for young people?
02:09 - What basic metrics should a first-time home buyer consider when deciding whether to rent or buy?
03:16 - What are the financial differences between renting and buying a home?
04:49 - What are other associated costs with home buying?
06:01 - What advice do you have for a young couple starting out, especially about managing money?
08:05 - What does a rich life actually mean?
08:49 - What role do gender roles, particularly masculinity, play in money management?
11:36 - How can young men balance financial planning with pursuing their passions for emotional and practical stability?
15:31 - What are some practical steps young couples can take to discuss their finances?
18:03 - What are some of the worst spending habits you’ve observed in young couples?
19:34 - What do you think of having "a number"?
21:06 - How should young people approach changes in personal finance?
23:43 - How should parents teach their kids about money?
26:53 - How do you view the connection between money and mental health?
29:34 - Can you over-manage your finances?
31:51 - What is your approach to investing?
32:11 - What key considerations should investors keep in mind about fees and long-term financial outcomes?
34:06 - Who should people listen to for financial advice?
36:44 - How can individuals make informed financial decisions on their own and align choices with their goals and values?
38:32 - How should young people start investing and managing their money?
41:57 - How did you get into the world of personal finance?
43:39 - What are your favorite hotels?

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