The Lesson: What do wealthy people do differently than non-wealthy people? This financial guru believes it’s how they think about their money in a way that relates to joy and their overall well-being – and in this podcast, Ramit Sethi discusses how the rich spend their money, and how you can take responsibility for your finances by discovering what you truly care about.
Notable Excerpt: “I’ll give you an example, I call it the handshake effect, and it’s when people would come over to my apartment for the first time, and they would say, ‘Wow! This is an amazing view!’ and then they always say the same thing in New York: ‘Do you own this place?’ and ‘how much did you pay for this place?’ And we’re shaking hands, right? I mean, we’ve just met! … it’s classic New York! And I say, ‘No, I rent,’ and it’s that moment where, if I had said I bought, they would be, like this, ‘Wow! That’s pretty cool!’ And you kind of get this pride. And then, when I don’t say that, they get really confused, because this is the I Will Teach You To Be Rich Guy, but also he rents, and ‘I thought renting is for people who can’t afford it.’ They don’t understand, and they give me this look, and I realized that so many of us are looking for somebody to approve of us, while we are shaking their hand. Someone we don’t even know.
“And so, instead of getting your approval from somebody you just met ten minutes ago, or from your parents, who probably are not the most sophisticated investors, if you’re watching this show, you know, you talk about greatness. And being great means choosing your own path. Sometimes you might choose to buy, I have no problem with that if you ran the numbers and you consciously decided, sometimes it means you don’t. But , if you want to live the life of greatness, you need to be comfortable making different choices than what other people expect.”
The Guest: Ramit Sethi is an accomplished entrepreneur, philanthropist, and financial guru. Author of the New York Times best-seller “I Will Teach You to Be Rich,” Sethi offers his wisdom through online courses, and manages a blog that shares the same name as his book. Dedicated to educating both the financially struggling and the well-off, Sethi wants to provide useful advice to his audience, regardless of their economic status.
The Host: After spending years of his young life and athletic career struggling with his own emotional wellbeing, a crippling injury left Lewis Howes without an identity and without any work. Instead of wallowing in self-pity, however, Howes recreated himself as a multi-million dollar media producer, motivational speaker, bestselling author, and podcast host. The ex-football player now spends his days chatting with the most inspirational icons of this generation on his School of Greatness podcast.
Books: Howes is the author of the New York Times bestselling book “The School of Greatness”: an in-depth collection of lessons and wisdom that he has gathered from interviewing hundreds of the world’s greatest role models and thinkers. Howes’s latest book, “The Mask of Masculinity”, is based on his experience with the dangerous stereotypes and expectations that are placed on men in modern society.
(LISTEN to the inspiring talk below or read the transcript)
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