Maximal Ep. 388 | Money Clutter (Patreon)
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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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