How To Get Rich Feat. Ramit Sethi | Executive Exchange

Video Description

On the premiere episode of Executive Exchange, senior editor and host Ruth Umoh sits down with personal finance guru Ramit Sethi in our Fortune studios to discuss how he was able to achieve self-made millionaire status (Hint: He invested early in Amazon), his hate for Robinhood, and how he wound up hosting his own Netflix show titled, "How To Get Rich." Ramit is also the author of the 2009 New York Times bestseller, "I Will Teach You To Be Rich," and podcast host with the same moniker. His money advice may be seen as a bit new age, rather than not spending money on a latte or avocado toast, Ramit encourages people to live their rich life and think critically about the things you purchase in your life that will make you happy. Ramit dives deep on why he personally rents instead of owns a home and breaks down the cost of when it's the right time to buy a house. He advises that total housing costs should be less than 28% of your gross income. Ramit also says that 90+% of people do not need a financial advisor, but he does relate to managing money as parenting your kids. He says it affects where we live, what we eat, and who we are as a people. Even saying that money is a political topic, whether you agree with that or not. 00:00 - This Is Ramit Sethi 00:47 - Ramit's Path To Self-Made Millionaire Status 02:13 - Financial Wisdom From Parents 03:34 - Output To Get Rich 04:32 - What Is A Rich Life? 06:15 - People's Perception Of A Rich Life 07:32 - Navigating A Rich Life 08:59 - Conscious Spending 11:29 - Cutting Money Ruthlessly 14:12 - Preferred Ratio Of Buying A House 16:31 - Tips To Save Money 18:16 - Young Investing Story 20:23 - Hate For Robinhood 22:33 - Down On Crypto 23:36 - When To Use Financial Advisors 27:03 - Buying Vs. Renting 33:28 - Having The Means To Buy A House 36:13 - Phantom Car Costs 37:47 - Inflation Impact 40:18 - Buying Power 40:59 - Financial Planning For Ramit's Wedding 43:32 - When To Talk Finances With Your Partner 45:45 - Fun Funds 47:08 - Rich Life Review 49:13 - Callout To How To Get Rich 49:44 - Rapid Fire Questions 51:38 - Looking At Money As Safety 52:28 - Outro Subscribe to Fortune - http://www.youtube.com/subscription_center?add_user=FortuneMagazineVideo Fortune Magazine is a global leader in business journalism with 55 million monthly page views and a readership of nearly 32 million, with major franchises including the Fortune 500 and the Fortune 100 Best Companies to Work For. The new Fortune video channel dives into personal stories from business owners and entrepreneurs becoming successful in business and sharing their tips to help you reach your goals. Website: http://fortune.com/ Facebook: https://www.facebook.com/FortuneMagazine Twitter: https://twitter.com/FortuneMagazine TikTok: https://www.tiktok.com/@fortune #ramitsethi #howtogetrich #podcast