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The Minimalists speak with financial expert Ramit Sethi about wealth, money clutter, investing with a minimalist mindset, how much money is enough, how to start learning about personal finance, timeless money principles, inflation, saving for retirement, and much more!

Discussed in this episode:

Why do minimalists invest if they already have what they need? (01:46)

How do we determine our rich life? (05:21)

How much money does anyone actually need? (17:08)

How does confidence contribute to personal finance? (20:16)

What two things should we focus on regarding money management? (21:24)

What are “invisible scripts”? (22:22)

What unbiased resources do you recommend for financial education? (29:29)

How helpful is automation for personal investing? (30:39)

What financial scams should we be aware of? (31:33)

Why is “timing the market” pointless? (36:19)

What are your perspectives regarding whole life insurance? (37:35)

What is the difference between the cost of living now and when I Will Teach You to Be Rich was released? (40:00)

What is a viable alternative to budgets? (43:15)

What is “TCO”? (44:10)

How can “cutting back” be counterproductive? (45:03)

How crucial is generosity when considering our expenditures? (51:58)

What is the difference between an adult and a child mindset regarding money? (53:07)

How do we save adequately for retirement in a volatile economy? (55:35)

What are some false phrases regarding money? (56:23)

Are “digital advisors” as good as financial advisors for managing investment accounts? (1:06:05)

How do we find the ideal tax professional? (1:08:18)

What are the differences between a fiduciary and an advisor? (1:10:19)

What qualities make up a good financial advisor? (1:12:13)

What are some common financial myths? (1:13:55)

What do you think of commodities? (1:14:43)

Why are portfolios preferable to individual stocks? (1:17:08)

How does bitcoin stack up in your investments? (1:19:22)

Segment: Lightning Round (1:22:46)

If the opposite of love and hate is indifference, but I’m still mad, does that mean I’m still in love? (1:23:15)

Segment: Right Here, Right Now (1:28:22)

Do we need whole life insurance as an investment because of our high net worth? (1:34:06)

Listener comments and minimalism tips. (1:35:17)

Segment: Talkaboutables (1:37:15)

What issues do you have with Instagram ads? (1:37:20)

How could bitcoin destroy online advertising? (1:42:22)

What is “audience capture”? (1:55:40)

Segment: Sucky Ads (2:15:54)

Segment: Minimalist Home Tour (2:25:45)

How often should I adjust my investment portfolio? (2:29:18)

What are the differences between a day trader and an investor? (2:31:19)

Segment: Added Value (2:36:44)

Is there an unbiased resource on Jesus Christ? (2:51:43)

LINKS

Added Value: “Testify”

Book: Brand-Changing Day

Book: I Will Teach You to Be Rich

Book: I Will Teach You to Be Rich: The Journal

Book: Particles

Listen: Griffin House

Podcast: I Will Teach You to Be Rich

Podcast: Ramit Sethi

Podcast: Dr. Courtney Warren

Resources: The Minimalists

Subscribe: The Minimalists

Watch: How to Get Rich

Watch: Jesus Revolution

Watch: The Chosen

Website: Ramit Sethi

MAXIMS

A plan without a purpose is like a recipe without hunger.

One person’s enough might be too much for their neighbor.

The future is birthed from a series of nows.

Tactics often expire, but principles are timeless.

Everything that is easy today was once a struggle.

The desire for things is the problem, not the things themselves.

Anger is a symptom of broken expectations.

Hatred is merely love in disgust.

You are not in love—love is in you.

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Comments

Anonymous

Another great episode guys, I've recently been watching the new series on Netflix and it's so good. Keep up the good work. Dan, Hull UK.

Alana

Guys! This was a great episode. I have enjoyed your content and Ramit's separately, and so to see both come together was like an explosion of amazingness, haha. It also made me aware of Ramit's new Netflix show, which I really enjoyed! Thank you!