@Netflix’s How To Get Rich | Money For Couples Podcast | NYT Bestselling Author
Los Angeles / NYC
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Whenever I post stories about wealthy people who can't bring themselves to spend $20 on dinner, I always get the same kind of reply: "That's how they became wealthy!"
No, restricting on a few dollars here and there is not how people built an $818,000 salary or a multi-million dollar net worth in their 30s
This delusion of frugality has to stop
New couple on my podcast today:
- Both 38, no kids
- Household income: $818,000 a year
- Net worth: $1.8 million
- Paid off $250K of debt in the last 2 months
- She saw a jean jacket she loved. $78. She didn’t buy it. “We’ve had a very expensive year"
What would you tell them?
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Always have a plan for unexpected income!
In my 20s & 30s, my plan was:
- 75% investments
- 15% savings
- 10% pure fun
In my 40s, my plan has evolved:
- 50% travel
- 50% savings (for specific items)
Unexpected income includes raises, bonuses, IRS refunds, side income
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Set your financial system up using my book (23,000+ Amazon reviews)
link.amazon/B0aVBK9eF
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Wealthy people are not automatically enlightened -- they're often the same people they were before, just with more money
Going from "wealthy" to living a Rich Life takes serious internal work
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New couple on my podcast today:
- Both 38, no kids
- Household income: $818,000 a year
- Net worth: $1.8 million
- Paid off $250K of debt in the last 2 months
- She saw a jean jacket she loved. $78. She didn’t buy it. “We’ve had a very expensive year"
What would you tell them?
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"We’re worth $1.8M, but I feel guilty buying a $78 jacket”
piped.video/Gx-fKvO6OjE?si=r63t…
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Paul, I can fix this if you do every single thing I say
Contact my team
Ex-NBA Star Paul Pierce ‘Drowning Financially,’ Struggling to Pay Monthly Bills tmz.com/2026/10/27/paul-pier…
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Once you understand that most people do not plan anything in their finances beyond next month, you will understand their behavior:
- They don't think about retirement or invest for it
- They're constantly surprised by December holiday expenses (even though they happen every year)
- They buy a car and house based on the monthly payment, then they're caught off guard by the Phantom Costs
- They buy a house because it's "the best investment" but have no idea how to turn it into money they can use
- They do not set money aside for kids, including childcare, diapers, formula, etc
- When you show them a compound interest chart, it mostly makes them feel bad
- They talk about their Rich Life as "doing what I want, when I want" or "financial freedom" -- all things years from now in the distant future with no connection to their behavior today
A lot of bad financial behavior is downstream of the inability to plan beyond next month
You can build the skill of planning ahead -- first, planning 3 months ahead, then 6 months, and eventually 30 years. It is a skill!
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Here's the scenario. What would you do?
45 & 47 years old
Income: $143K
Credit card debt: $96,179
Fixed costs: 102% of take-home pay
Savings: $0 ("I’m worried we will be homeless")
Groceries: $3K/month (“We eat like we’re at a restaurant...every night")
Kids: 2 under 7 years old
These real numbers are part of a conversation on my podcast with Freya & Blake. Episode below.
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Ramit Sethi retweeted
ain't no way
NEW YORK (AP) — A long-retired New York City police detective was arrested Wednesday in the road rage killing of a motorist on the George Washington Bridge, police said.
apnews.com/article/george-wa…
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Earnable Live closes tonight at 11:59pm Pacific.
If you’ve been telling yourself you’ll start a business “after the holidays,” this is your first step instead. Link below.
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5 weeks, from “no idea” to your first sale, with a new cohort starting November 4: iwt.com/earnablenow
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Coming up in a future video!
- Hiring a house manager, nanny, chef
- How much it costs
- Lifestyle of wealthy DINKs vs billionaire
What else do you want to me to cover on how people spend their money?
This was great - Since you asked for other topics, I’d love to hear about how people spend on overall household management
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Why would someone spend $400,000 on a vacation?
I interviewed a luxury travel advisor who took us behind the scenes of high-end hotels:
- Your advisor sends a note to the chef before you land. Allergies, dislikes, "we want Thai food." They’ll make anything for you, even off menu
- No check-in desk. Slow welcome, “magical moment” upon arrival, bags are invisibly taken to your room and waiting when you get there
- He wanted to feed the kids at 5 in his room, the butler cleaned up, then adults are at 7
- They know your drink order and it always appears anywhere you go across the property
- Staff can pack / unpack your bags (almost nobody uses this)
These are typical at luxury hotels — so what makes a trip ultra luxury?
And who would pay for this?
Find out in my new video below
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Inside the world of ultra luxury vacations
piped.video/QOPCKVIg6RY?si=Fr7X…
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