logo
episode-header-image
Aug 2021
59m 55s

Everything You’ve Been Told About Money ...

Impact Theory
About this episode
Check out our sponsors:  Athletic Greens: Go to athleticgreens.com/impact and receive a FREE 1 year supply of Vitamin D AND 5 free travel packs with your first purchase! Italic: Sign up for an Italic membership at italic.com/join using code IMPACT for 30% off. Four Sigmatic: Get up to 40% off + FREE Shipping on Mushroom Coffee bundles at Foursigmatic.com/IMPACT Helix Sleep: Go to HelixSleep.com/impact for up to $200 off your mattress and 2 free pillows. Skillshare: Explore your creativity at skillshare.com/impacttheory for a 1 month FREE trial of Premium Membership. Simple and practical financial advice sounds familiar, but is rarely ever truly given. Maybe you have access to financial advisors you trust and maybe you don’t. Understanding for yourself that money, investing and living a rich life is much simpler than you could imagine is the most important thing for you to remember. Ramit Sethi has joined me twice before to bring you sound financial advice and he delivers again. He shares investing strategies worth considering if you are looking to create wealth. Even if you’re a modest investor, you’ll want to hear how he breaks down the truth behind hidden investment fees, advice for couples to understand the root of their money problems and solutions for those never-ending disagreements around finances. This episode will give you the tools you need to reconsider your investment strategy, how you approach money and why, and the best way to move towards living the rich life, however you define it!   Check Out Ramit’s 1st Interview on Impact Theory: https://youtu.be/mokyNBWZ8wg Check Out Ramit’s 2nd Interview on Impact Theory: https://youtu.be/mokyNBWZ8wg   Order Ramit Sethi’s book, I Will Teach You To Be Rich: https://amzn.to/2VmKbKk   SHOW NOTES: 0:00 | Introduction Ramit Sethi 1:42 | Current Financial Situation 2:31 | Low Fees Exposed 5:13 | What Great Investing Is 7:28 | Investing Isn’t Quick Money 10:53 | Understand Compound Growth 14:44 | Protecting Your Wealth 16:04 | Wealth Accumulation Strategy 26:51 | Low Cost Low Fee Funds 31:22 | Gamifying Investing 33:34 | Investment Journey 35:47 | Love and Money Solutions 42:35 | Couple with Separate Accounts 44:35 | Women Having Higher Income 49:09 | Pivotal Financial Conversations 53:43 | Spender Saver Couples   QUOTES: “Investing is not about excitement. You want excitement get a dog [...] Investing is boring. It's like watching concrete dry and it should be” [12:23]   “The best investors are humble. They know that nobody knows anything.” [15:13]   “Trading is the enemy. For real investment returns. We want boring, simple, that's where the real money is made.” [16:58]   “Be humble enough to recognize you do not want to be a professional money manager [...] [most people] spend more time looking at a Yelp review for dinner on Sunset than they do picking their investments.” [23:45]   “Most people would rather pay $250,000 in hidden fees, then pay $10,000 out of their pocket.” [28:04]   “The $30,000 question [couple] should really be asking is, how do we set up a system that lets us honor each other's financial desires.” [43:40]   “When partners think about money, the way that they usually relate to it is they know something that they disagree about. They try to [put] a Band Aid over it, paper over it until it blows up.” [52:46]   Follow Ramit Sethi: Website: https://www.iwillteachyoutoberich.com/ Podcast: https://www.iwillteachyoutoberich.com/podcast/ Facebook: https://www.facebook.com/IWT/ Instagram: https://www.instagram.com/ramit/ Twitter:

Learn more about your ad choices. Visit megaphone.fm/adchoices

Up next
Nov 2023
Unspoken Truths of Sexual Attraction | Tom & Lisa Bilyeu
[Original air date: July 20, 2018]. In this week’s episode of Relationship Theory, Tom and Lisa talk about the real root of attraction and why it’s necessary for any successful relationship. Subscribe to Women of Impact podcast here: https://apple.co/2oT9GPQ FOLLOW TOM BILYEUINST ... Show More
1 h
Nov 2023
Mass Psychosis: How An Entire Population Becomes Stupid & How To Get Ahead Of Everyone | Dan Ariely PT 2
Welcome back to part two of this thought-provoking conversation with world renowned social scientist, Dan Ariely.We continue unpacking the complexity of human rationale and mass psychosis you’ve probably encountered more times than you can count. We head for the deep in this roun ... Show More
1h 49m
Oct 2023
Mass Psychosis: How An Entire Population Becomes Stupid & How To Get Ahead Of Everyone | Dan Ariely PT 1`
SPONSORS:Get $150 OFF your incredible Cold Plunge tub when you use code IMPACT at https://bit.ly/PlungeImpactRight now, Kajabi is offering a 30-day free trial to start your own business if you go to https://bit.ly/Kajabi-ImpactGet 5 free AG1 Travel Packs and a FREE 1 year supply ... Show More
1h 30m
Recommended Episodes
Mar 2024
MI333: Millennial Investing Book Club: The Psychology Of Money w/ David Fagan
Kyle Grieve chats with TIP Mastermind Community member David Fagan about the universal truths about money, hidden areas of life where compounding happens, why we should welcome doses of luck to help us succeed, how to be financially unbreakable, why asymmetric investments are so ... Show More
1 h
Nov 2021
The Secret Strategy to Invest in Real Estate and Earn Passive Income
Yes, it is possible to invest in real estate and earn passive income on any income. If you’re active on social media, you may have heard of Rachel Richards and her brand Money Honey. Rachel has been on the show in the past, however, in this episode she's sharing her story about g ... Show More
48m 20s
Apr 2023
Money Can Be Fun: The Magic of Passive Income
In this episode, Chris Miles, a cash flow expert and non-financial advisor, talks about the exciting world of passive income and how it can totally change your life for the better! Chris spills all his secrets on how to create multiple streams of passive income on any budget, and ... Show More
46m 3s
Feb 2024
MI Rewind: Why and How You SHOULD Invest Your Emergency Fund w/ Chris Kawaja
On today’s Millennial Investing Rewind Episode, Robert Leonards chats with Chris Kawaja to learn about why and how he believes you should be investing your emergency fund, using The Ultimate Liquidity Portfolio strategy. Chris is a Stanford and Harvard graduate who worked at Gold ... Show More
44m 33s
Oct 2023
MI Rewind: Cash Uncomplicated: Wealth Building Mindset w/ Aaron Nannini
Robert Leonard chats with Aaron Nannini about ways to wisely manage your money and the importance of having a proper mindset for wealth-building. IN THIS EPISODE, YOU’LL LEARN:00:00 - Intro03:06 - Why behavior and mindset are so important when it comes to money.04:42 - What value ... Show More
48m 45s
May 2024
TIP630: The Wealthy Gardener w/ Kyle Grieve
On today’s episode, Kyle Grieve discusses the book The Wealthy Gardener. He covers a variety of wealth topics like how to optimize your time to generate wealth, why it’s so important to avoid wage slavery, why you should embrace challenges to live a more fulfilling life, why we m ... Show More
57m 54s
May 2023
S1E3: How to start investing in the UK
Kalpana Fitzpatrick is the Senior Digital Editor of MoneyWeek and the author of a few finance books including Invest Now. She’s here to explain how to get started with investing because it’s a key wealth building tool. In fact, as we learnt in Episode 2 with Andrew Craig, it’s ho ... Show More
57m 9s
Mar 2022
Skip the Financial Plan and Build Your Wealth The Simple Way
Are you ready to learn how to build wealth the simple way? In this episode, David Hegarty, the Founder, and CEO of Playbook, a step-by-step app for building wealth, is here to deliver some serious money gems. He’s throwing out traditional wealth-building wisdom and instead sharin ... Show More
43m 12s
Jan 2024
MI Rewind: To Be A Successful Investor, You Need A Budget w/ Jesse Mecham
In this MI Rewind Episode, Robert Leonard chats with Jesse Mecham to talk about how abiding by simple budgeting can set you up for success in the future. Jesse founded You Need A Budget (YNAB) in 2004 while he was still in college. YNAB has grown into a leading software and prove ... Show More
42m 12s
Jan 2023
How To Get Started Investing & Building Wealth On Any Budget With Tori Dunlap
Let me tell you an investing story that makes the hairs on my arms stand up. I had been great at investing in a 401K from age 24 to 34. It was my ex-husband’s 401K, but he was the one with the great company match (aka free money). That account grew to $150,000. But then we got di ... Show More
42m 36s