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Ramit Sethi

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143
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2019-05-21
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2019-05-21
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  1. “There was a little thing that said the prices. We looked at each other, my friend Nick and I, and we said, ounce for ounces is the most expensive thing we've ever had to drink if we were to buy it. It was like $70 per sip. It's like crazy, right? And we didn't pay that much for the tasting. But what we learned from that was number one, sometimes quality, you can only tell it by certain attributes. Two, I wasn't at the level of being able to appreciate it. And three, and this was the real key, What we should have done and what I'm going to do from now on is whenever I go to a cool, whether it's tea tasting or any kind of interesting restaurant, I have a little playbook now. I ask my assistant Jill to put it together. We're going to make the reservation. Of course, I'm going to pay. I'm not asking for anything free. But she's going to send a note ahead of time that says, you know, hey, Ramit's coming in. He would love to be able to take a kitchen tour if you have. I was just going to say this.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  2. “Japan, there's a translator and there's a photographer. We're like, what is going on right now? We're like, just something happening, but we don't understand what's going on. So we're sitting there and then this person comes and starts speaking and the translator is translating. And they basically say, this is the best tea in Japan and it's being brought to the US for the first time. And we're like, okay, like how good can good be? It's tea, you know, like we didn't understand quality at this level. Okay. So the way that we truly understood it, they told us, you know, they only grow it on a certain part of the mountain and they use these types of things. And we're like, okay, okay. The way that we truly understood it was when they put the tea leaves in and they said, okay, steep it for a second. And they said, drink one drop. One drop. And we're like, what? And so we drink one drop. It was amazing. It was really good. I've never tasted anything like it. And then...”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  3. “To this cooking class private in the back, in the kitchen. Not only did they make four different dishes, they even said, okay, you know, your stove doesn't have as much flame as ours, so you want to adjust the recipe, et cetera. So she sends me these photos. I'm just sitting in the room. I was doing some writing. And she sends me these photos of four full dishes. And then they were like, here you go, compliments of the kitchen. Like she will never forget that. Never. And it was just about asking, how do you do this? She didn't even ask for the class. So I learned from that and I thought that was magical. The second experience is a new thing that I've added to my playbook, which is my buddy Nick took me, he's like, hey, do you want to go to a tea tasting in New York? I was like, yeah, let's go. Green tea. I thought it would be a typical tea tasting. You know, you go some typical tea tasting. I don't know. Just one. People in New York who like tea, they do it. We go there. Okay. There's like six people from.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  4. “And the hospitality was just like on another level, right? We're on a different planet. And I said to my wife, if there's anything you think of or you want, just ask because at these hotels, they really, really, really want to say yes. And we were at one hotel in Thailand and my wife loved the spring rolls. And so the manager comes out and he said, hello, you know, how's your meal? She said, you know, I was wondering, she was kind of nervous. I was wondering if we could have the recipe for these spring rolls because these are the best I've ever tasted. He goes, you know what? Give me just a minute. He goes through the back. He comes out with the chef. Chef in his hat. And the chef says, I heard that you're interested in the recipe. And he goes, I would actually love to arrange a cooking class for you. Amazing. What time are you available tomorrow? She's like, I can come anytime. So she goes.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  5. “I love this. Okay. I love how to take a mundane experience like a restaurant and turn it into something special. So thank you for sharing that. Let me share a couple of my own. I had two experiences, one where we, I think we got something magical, and the second where we didn't do it, but we got an idea. We were on our honeymoon and we were just having the most amazing time we went to”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  6. “100%. That's why I'm so glad you said a few minutes ago don't scoff at the mental exercise like, oh, I don't have enough money. Like, dream big. Dream the dream of what your money dial is at 10x, but the solutions are often so simple. Every time I travel, I will post a video on Instagram of the food that was delivered. And it's like classic stuff. It's like yogurt. It's stuff that we all eat. It's yogurt. It's some almonds, maybe a peanut butter thing. People are like, what service did you use? That's the question. What service? And I'm like, the service doesn't matter. You could find somebody on Craigslist. This is like a $20 purchase. $20 that can change your life. And in order to get there, you just have to start with the dream. It's the money is really the last of it.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  7. “Yeah, they're in a Google Doc. There's a Google Doc that's roughly 25 or so pages of preferences. Like when I travel, if I'm traveling over five hours, I want to sit in this type of seat. It's all lives there and it's updated. So it's a live living document. One recent thing that I updated was when I travel for a longer period of time, I want to have food delivered to my hotel. So I can try to stay generally on diet. So I'll get to the hotel and they'll have a Whole Foods bag there delivered with food that I know that I can kind of eat on the go and it's got a spoon too because the first time we did it there was no spoon and there are no spoons in a hotel room which I had to learn myself. So it's like a lot of iteration but to me I don't find it annoying. I actually love it because I'm like cracking the code of what it takes for me to be really efficient. So it lives in a Google Doc. If my assistant were sick for some reason she would transition it to someone else. And so it's accessible to anyone at the company.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  8. “Exactly, and everything's in its place. So I love that. Then on a day-to-day basis, things like scheduling. My assistant Jill handles it. She's fantastic. And even when I was coming here, I walked outside to get a Uber or taxi and I didn't even know what airport I was going to. I just knew that when I double click my calendar, it would tell me. So it's all taken care of. Finally, a couple other examples. When I travel, especially for an extended period of time, we have something called the travel protocol. And Jill activates the travel protocol. That means my plants get watered if they need to be. That means that she handles email in a different way. That means that all these details that I normally attend to when I'm in the office are now attended to by somebody else.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  9. “My assistant has And my team has. So that has all been engineered. And I do believe that the best morning routine is decided the day before, the week before, even the year before. So by the time I get there, it's just ready to go. It's like a chef walking in.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  10. “Well, okay, I'll tell you, but it's going to sound weird because, like, to me, this is truly joyful. And to other people, I'm going to sound like a lunatic. But this is my rich life, so I'm going to break it down. I wake up in the morning, and by the time I wake up early, we started waking up at six after we went on our honeymoon. We were waking up early for Safari, and then we both kind of looked at each other and were like, do you want to keep doing this? And so we do. We sleep around 9.30, 10, wake up at 6. By the time I get start working, I just open up my calendar and I double click on whatever's in the morning. It's usually writing in the morning. And everything is like perfectly organized. The link is there. I click the link. The document is ready to go with exactly the right information. It's all organized. Like there's nothing left to chance. There's no documents over here. There's no files over there. It's all in its place.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  11. “Would you be willing to cut back on? And suddenly people start to realize that money actually should be bifurcated. It should be highly bifurcated. It's spending very little on the things you don't like and going extravagant on the things you do. And when you start to think this way, now your rich life becomes way more specific and meaningful to you as opposed to me. I don't need a fixer because I don't travel at those kind of places and I don't do the kind of traveling you do. But for me, I want even more convenience. And now, you know, I want a different type of travel now that I'm married. So these are things that I want everyone to think about. What's your money dial and what if you could 10x it?”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  12. “Okay, I love this. By the way, whenever you ask someone about their money dial, you can just see their face light up, right? Because they love it. I loved, I love, I'm obsessed talking about how I have built my life around convenience. I'll take you through every last detail. You can see the joy in my eyes. So what I love to do is for people to dream big. If it's travel, it's not just like adding an extra 10%. It's like 10 Xing it. What would that look like? And then in order to get there, whether it's 2x, 5, x, 10, X,”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  13. “Oh man. All right. She won't like my Okay, so I love this exercise. There are about 10 money dials that I've identified. Travel is a big one. Convenience is very rare. There's health and fitness. There's relationships. There's a few more. What I like to see people doing is actually spending more on the thing they love.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  14. “All right, now what's something in your life that you spend money on, but you don't really care, it doesn't make that much of a meaningful difference to you.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  15. “Perfect. So let's do this now. A lot of people say travel, it's one of the most common ones. Mine is convenience. I like my life to be super convenient. So I've spent a lot of money and time engineering that. Now, let's take your money dial, travel, and like a stereo dial, let's turn it up. Let's say just for easy math that you spend $100 a month on travel. Again, easy math. What if you 10x that or let's say you hundred X that? What would travel look like for you different than what you do now?”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  16. “But I spend more on things. So I always like to spend extravagantly on the things I love, but cut costs mercilessly on the things I don't, mercilessly. So I like that. I actually would, I think a lot of people kind of try to cut back a little bit here and a little bit there. And they just end up generally unhappy about it. I would actually encourage people to pick the area. I call it a money dial. Pick the area of your life that you truly love spending money on. Like let's do a quick exercise. What's the area of life that you love? It gives you joy to spend money on.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  17. “Yes, exactly. So, exactly. Another example is I hardly ever eat out at all. And that's a big change from 10 years. Well, I was single and I was seamless, like my seamless receipts are just like through the roof. Seamless is an online delivery service in New York. Everybody there uses it. And now for health reasons and also just for cost reasons as well, we like to cut back on that.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  18. “So that's what I wanted to find out. I went to the Apple thing in the top left corner and it shows you when you bought it. It's seven years old. But like it still works. So I don't want another one. And also when I grew up, this comes from my childhood. We didn't buy a new computer unless the other one did not turn on. So I've kept that with me. And I like having little places in my life where I intentionally impose scarcity. I think it's healthy. I think it's healthy to have restraint. I think it's healthy to build that discipline. If you just go out and buy everything, you can. I think you're on a quick path to a bad place.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  19. “Like my wife makes fun of me because I run my entire business on a MacBook Air. And, you know, I put my feet up on the table. I got my thing on my lap. And she's like, why don't you get a new computer? Like that fan is so loud. And I had to upgrade. How long have you?”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  20. “100%. That's why most of America and most of the world has the frugality lens on, right? There's a limit to how much you can cut, but no limit to how much you can earn. And if you think about the typical financial advice, it's a very pointed question to ask, why don't any of these so-called financial experts in the newspapers talk about how to earn more money? And the answer is they don't know how. That's not their job. They're writers. So to be able to understand that you do need to manage your costs for example, there are a lot of things I do in my life that are highly frugal, highly, especially for the income that I have. And I just, it's not of interest to me. But I also would.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  21. “As Dan Kennedy says, why pay less when you can pay more? If you're going to have an amazing anniversary dinner, perhaps that's the place you don't need to save 50%. Perhaps you actually want to spend more to create a memory you will never forget.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  22. “Dan Kennedy is a famous marketing consultant, and he has a great book out about marketing to the affluent, which if you read it, it can be a bit abrasive, but it's also like a very eye-opening, shocking book because what he points out, see, most people go through life with a lens, I call it a money lens. They put a pair of glasses on and they look at the world through a frugality lens. How can I save money? And you see this in lots of ways. If you say, oh, that's a really nice jacket. Where'd you get it? They'll tell you and they'll say, I got it on sale or I got it for 50% off. That's interesting. But if you talk to somebody who bought like an absolute something they love, they went to Italy and got this perfect jacket that was handcrafted. They would never say, I got it for 50% off. They have a different lens, maybe craftsmanship. I grew up with the frugality lens. Everything was about cost. Growing up now, it's also about value.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  23. “Being really conservative with my job, if I had followed all the paths in life, I'd be sitting here wearing like a very oversized Cisco engineer t-shirt and just, you know, I'd be telling you about my sales engineering stuff. Like it's a conservative, go get a good job, et cetera. And as I got older and I started making different choices, my parents were supportive, but they were a little surprised. I think on the financial side, I didn't really understand why people would pay more. Why pay more when you can pay less? But there's a famous quote from Dan Kennedy. He says, why pay less when you can pay more? Total flip of the equation. So whether that applies.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  24. “Right, yeah. And so, and it really trickles down in lots of peculiar ways. So, there are some ways that I really love when we used to take vacations, our vacation was mostly driving from where we lived in Northern California to LA. We would visit family. My mom would pack lunches and we would stop on the way and eat. And, you know, what I love about that is we didn't need any fancy food. Like we were a family. We spent time together. That was vacation for us. I didn't know what it was like to stay at a fancy hotel. In fact, I never ordered room service until I was like 20 years old on an interviewing trip for Microsoft. So I like that. I like knowing that I grew up a little hungry, not physically, but just knowing like, oh, cool. Like, we're happy. We're good. There's another level, you know, we can't quite do it right now, but we're happy. But I think I also grew up with some beliefs that I've shed or changed. Some of them would be like...”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  25. “Yeah, I call them invisible scripts. These are the scripts that run our lives, and they're so deeply embedded in us that they are invisible to us. And you see it, you know, one invisible script that I grew up with was education is always good. And I believe that. I believe that's a positive invisible script. I think that's a really good one. I'm all for education, self-development. That's what I do for my business and in my life. I also grew up with things like you shouldn't pay for that. We could do it ourselves. Yeah, me too.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  26. “Want to do now it becomes okay, cool, like I want this, I want that. How can I work to get it? So I wish I would have reframed the way that I thought about money and psychology earlier on.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  27. “That is not my rich life. But to him, that's his rich life. So when I was back in my 20s, what I wish I would have done was to look at people who had succeeded in the ways that I could conceive myself succeeding. Like I would have never seen myself in an RV, so maybe I didn't have something to learn from that person. But if I was really introspective and if I were really curious, I would have said to him, like, how'd you do it? What'd you do? And why did you choose of all the things to travel in an RV? If I had done that, I would have put myself aside and all these things that we love to define ourselves are, which by the way is interesting, people love to define themselves by what they're not, as opposed to what they want. So you see it on dating profiles everywhere. Don't message me if or people say, I would never do that if I had a million dollars. Well, you don't have to worry about having a million dollars because when you define yourself by what you're not, you won't get there. When you choose what you would.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  28. “It is nice, but you might have money and you don't choose to spend it like that. You choose to spend it on something else. I have a student of mine in this book who used the book. He told me he retired at 35 and his wife retired. They're 35 and 36 and they drive her on in an RV. That's their rich life.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  29. “What I like about these examples, like, I don't find them shallow to discuss. I think that each of us, no matter what level of your success, has gone from a certain place in life when you're in your early 20s to a different place, right? I used to read PC Mag and think about what parts to build my own computer. Now I just go buy a Mac. Like it's as simple as that. And I haven't kept up and it's just not a good use of my time. I just want someone else to make the decision for me. And it doesn't matter whether you're buying first class tickets internationally or you're going to a restaurant instead of cooking food for yourself one night. You know, one night a week or a month. We all intuitively know that as you change in life, you're spending is going to change. I actually don't think anyone should listen to your example of a middle seat and say like, oh my God, like, must be nice to be Tim. Or for me, you know, I have an assistant as well. Must be nice.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  30. “Okay, so let's talk about what are some examples? What are some things that you scoffed at in your early, let's say teens or 20s that now you're like, oh, I get it?”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  31. “I like the flexibility and convenience. So I'm not saying don't ever buy real estate, and you're not saying buy it or pay it off tomorrow. But what are the circumstances in which people who are otherwise probably pretty thoughtful make certain decisions?”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  32. “Own life where I pay for stuff that makes no rational sense. I hired a personal trainer for the last many years. That doesn't make any sense. I could theoretically find the same workouts on YouTube. And they're all printed out or I could just stop going with my trainer. Why? He's giving me all the workouts. But there's something more that I get out of it. And when I was starting out, when I was like 22, I wish I could go back and shake myself because I was very utilitarian and really judgmental about how other people spent their money. And I would scoff. I would say, you know, flying business classes so stupid. We're all getting to the same place. I'm just paying 20% of what that person's paying. And what I really should have done is say, why do they do that? Like if we're listening to you right now saying you paid off a principle where you really didn't have to, you could have just dripped it out. You're not paying much in interest. Why? And for you, that safety was meaningful. For me,”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  33. “Completely agree. I'm so glad we're talking about the nuance because I believe there's a few underlying beliefs when it comes to money. And I believe that number one, most people are mostly the same. And that's profoundly different than a lot of people who believe that we're all individual and we have different situations. No, I believe that most of us are mostly the same. And if we can optimize, if we can basically just follow good advice for 90, 95% of the way, then we earn the right to take advantage of our individual specialties and differences. So for most people, that means saving a certain percentage, investing a certain percentage, et cetera. But I do think once you do the basics, then you earn the right to say, hey, what are the nuances here? Where do the rules not necessarily apply to me? So for you, yeah, you have the principle maybe financially it didn't make sense, but it just felt good or it provided safety in an uncertain world at that moment. I've got examples in my”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  34. “Outcome is going to be over the long term. I don't have to do any repairs, and as we may talk about, I really hate anything that affects my convenience. So I think for a lot of people, I just want people to think like, hey, is it really true that real estate is the best investment? For me, it's not, it's a cost. And I'm happy to pay the cautious like I'm happy to pay the cost of a basket of strawberries that I'm going to eat. I don't think I'm throwing money away on strawberries. I don't think I'm throwing money away on rent.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  35. “Me. It doesn't matter to me. I'm going to be out of town for the next few days, so have a blast. I would estimate that that repair probably cost in Manhattan on a weekend, probably $25,000, maybe 35,000 dollars. I didn't pay it, right? So that's financial. Also a flexibility issue, which is, I don't know where I'm going to be five years from now. And if you're going to buy and you run the numbers, it makes sense to plan on being there at least seven to ten years minimum so that you can sort of eat the cost of the transaction fees. But I think the biggest thing that really surprises people is that in America, we have been told so many times real estate is the best investment. And in my opinion, that's just not true. A lot of the time. Now, I don't think it's a bad investment always, but I always say you should run the numbers. And when I run the numbers in Manhattan, it just makes no sense. I would rather take that money and I would put it in the stock market. And I know consistently what that...”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  36. “Yeah, I get this question a lot because in America, real estate is religion. And if you're successful, then you're supposed to buy, right? And the old tax deduction and they're not making any more land and all these things that we say that we don't really understand. I rent intentionally. I could go buy a place in Manhattan tomorrow with cash, but I don't want to. It doesn't make sense for me financially. And also I enjoy the flexibility. Just to give you an example, I love that the building that I live in has awesome services. I love that anything that goes wrong, I make a phone call. It started raining last winter and water started coming through my window sill. So I made a phone call and they came up and they took a look and they were like, we actually have to replace this part of the roof because it connects and we have to send someone to the outside of the building. I said sounds good.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  37. “And so I'm like never again. I'm never putting interest rates in this book again. So I took him out, I clarified it, I corrected a couple of things that I wanted to update and I added like 80 new pages of material. So things have changed a bit, but good advice really shouldn't change that much.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  38. “Against yourself for positive results. Now, if you had followed that advice, it turns out that when the book came out in March 2010, That was the absolute bottom of the recession. Crazy enough. Now, I don't believe in market timing, but if you had used the advice in the book, $10 book, you would be set for life. So I started Book Off by saying, well, I was right. Let me tell you all the things that would have happened. Book. I did get a couple of things.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  39. “Okay, so this book I will teach to be rich, originally came out in March 2000. And let's just dispense with the idea the name sounds like a scam. We both know we write books that sound like scams. They're not. I mean, it's like a running, and I've just learned to embrace it. Guys, it's the weird sounding book, but it's actually good advice. And in the first edition, I talked about long Thinking about really automating.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  40. “Here in the 70s, my dad came here actually to study. He went back to India, and it was known that he was coming back. He was a bachelor. And they sort of arranged things so that he meets people when he comes back. And it passed around the community that this bachelor's coming back. And he ended up meeting my mom. They met by both families coming together in a living room and talking. met each other the families decided it was a good thing seven days later they were married my mom got on a plane and flew to the u.s for the first time and they've been married for about 40 years now”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  41. “The part where the dealer's drawing the numbers, you know, and telling you, well, it's actually a really good deal. And my dad, you know, he knows the math. He's an engineer, of course. And finally, we've closed the deal and my dad goes, you're going to throw in free floor mats, right? These are 50 bucks. And the guy's like, sir, we're losing money on this car. How can we throw these floor? And my dad says, I'm out of here. And we just walked up and left. And I was like a Vietnam vet. I'm just shell shocked walking out. My eyes are just glazed over. And I'm like, we just spent a week buying this car and we walked out of here over $50 floor mats. So that's where I learned to negotiate in the most elite negotiation of all”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  42. “That's what my dad would do. My mom would stay home, my dad would take us, he would take a couple of the kids in my family, including me, and we would go to the dealer. It was always Honda or Toyota. You know that. And we would start looking around. And my dad would play very innocent. Like he didn't know anything about cars. My dad knew everything. He knew how much the dealer was paying, how much the holdback was, everything. So we'd go, we'd test drive it. He wouldn't be sure. Da da da. And then we'd stay there for four or five hours and he'd say, okay, I'm going to think about it. The car dealer spent like five hours with my dad. He goes, no, thanks. This price isn't good. I'm going to go. They're like, what? So we literally left. Then we go back the next day. Like, we're basically having breakfast at the dealership. And I remember one time we were buying a car for our family. And it was like the fourth day. Okay, again, I thought that this was normal. And we're down to the last bit.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT

  43. “You want to start there? Yeah. All right. So, you know how you grow up and you discover that your parents did things a little differently and you just thought it was normal. I thought it was normal to take five days to buy a car.”

    2019-05-21 · The Tim Ferriss Show · #371: Ramit Sethi — Automating Finances, Negotiating Prenups, Disagreeing with Tim, and More · IDENTIFIED FROM THE TRANSCRIPT