0:00 Please remember: These are real people who had the courage to come on my podcast and ask for help. Would you be willing to come on this podcast and share every detail of your financial life? Feel free to leave comments based on what you think, but remember that we are here to help in a supportive way, not to demean and criticize.
I'm trying to help my friends see the lense of financial freedom and they can't grasp it. Yet I am able to stay at home with my new born twins while they work day in and day out.
😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅ooooooooooooooooooooiiooooooooooooooooooooooooooooooooooooooooooioooiio😅o😅oooooooooooo😅😅ooo😅oooioooooooooooooooooooooooooooooooooooooooiiiooooooooiiioooooooooooooooookoooooo😅o😅ooooooooooooooooo😅o😅oi😅😅 I oooioooooooooooooooooooooooooooooooooooooooiiiooooooooiiioooooooooooooooookooooooo ooippp the best of all things oiiooooooiooooooooooiioioooooooooioooooooooooolooolllkooooioooooooookioooooooo you o ooki😊ioooiiiiooooooooooooiooooooooooooioiioooooooooooooooliiiooooooooooloooooiioooooo
I remember Dave Ramsey’s daughter was with a caller and she said “women buy things that the whole house needs and often get blamed for spending too much, but it’s because they’re taking care of buying for everyone”. I think it’s easy to think a purchase was unnecessary when you don’t really know what was needed to begin with. They seem super solid and wow, very inspiring as far as setting yourself up for a rich financial future. Great episode
Oh my gosh. At 28:05 when you said, "Celebrating is a really important skill" I think Travis is literally taking note of that--he's writing it down. You spoke his language. A skill? He's like, ooh, a skill I'm lacking? I'm on it! Hahaha.
That's military for you. For fun my brother-in-law practices wilderness survival, learns Russian, and cooks. Zero materialism. Military also has the total opposite, I don't think they stay in that long though.
I grew up with a parent who constantly told me we couldn't afford things and he wouldn't even come to my high school theatre shows because it cost $7 for a ticket. In truth the reality was the opposite of what he said and if I could tell these 2 on this episode anything it's that you will make your kids feel like your money is more important than them. It's not about saying yes to everything they want or "spoiling" them or spending more than you have just for them... It's about making them feel like a financial burden.
and trust me when i say they do realise when you tell them you dont have any money for them and they see you buying smokes and alcohol every single week..
I feel this in my bones. I am the youngest of 4. Both parents worked but mom was the source for all the daily expenses so we lived frugally while my dad spent on himself. We never had money to go on vacation, mom made clothes for us, we always heard how money was tight. Then I (10 years old) was returning from the store (on the bike I had to pay for) with a loaf of bread. It swung into the spokes of the tire and was shredded. I started sobbing cause I thought this was our bread for the week - all we could afford. When I made it home, my parents laughed at my reaction. The scales fell from my eyes and I saw their protestations of poverty were false. I (57) still find I get angry when my hubby complains about some expense he has. I also made sure I had 5 year goals from high school on so I would not make my family live under the same yoke of poverty my parents kept us in.
Same here. Parents could never afford clothes. I had 2 outfits and had to wear the same thing every weekend. When it got really bad, my parent got used clothes from her friends kids who were much older. Imagine being 5'2" and wearing jeans for girl who is 5'9".
They both are working hard. Being the sole provider is hard work, too. With inflation, both parties, stay at home mom and dad, the sole provider, will feel it.
I’ve been where she is. All the weight of day to day financial decisions on her, and the scrutiny and pressure from him. It didn’t end well after 25 years and 3 kids for me. Wishing them the best. I suggest ongoing counseling ❤🙏🏻
@amykean6125 you forgot how the money was made in the first place. That would be a very important part of it. You should stop with the side taking B.S.
It’s interesting. Travis mentions how he lived amongst 7-8 income earners, and the effect it has on his kids. But I do think it’s affecting him and his wife as well. When you’re surrounded by more wealth than you have. It doesn’t matter how rich you are, you’ll always feel poor. It’s amazing to me that someone in the 1% income bracket + 7 rental properties with a small mortgage between all of them still feels poor. Most Americans would kill to just own their own home.
“I can’t imagine how all this is going to come out when you publish,” he says, looking fleetingly concerned…. Blankfein insists he is “well-to-do”, not rich. “I can’t even say ‘rich’,” he insists. “I don’t feel that way. I don’t behave that way.” -- Lloyd Blankfein, Former Goldman Sachs CEO (Net Worth = $1.16B USD)
I feel broke. Inflation is killing me and I have a LOT of stocks and investments. I am cash poor because I will not allow myself to do ANYTHING. I don't go to movies anymore, i have cut cable and streaming for over 4/5 years, I live almost like I am homeless. All of this to retire and not eat Cat food and have money later in life. My only "happiness" is free stuff like RUclips or Facebook videos on my computer.
I’m damn near poor and been around wealth and it doesn’t affect me at all. Not saying you’re wrong but being that my worth is in art and not in posting on line and trying to do what others do, I’m chilling. I’ve been doing rich life stuff apparently in 30g a year salary lol
@@edwardaldrich7213How much do you need to retire? I feel like you may already might be at a good spot and maybe start enjoying a tad bit. Not all of it, but maybe a $10 streaming service or a nicer pillow or some better quality tires than usual, when it’s time to replace. Early on “watch the Pennies and the dollars will take care of them selves.” But once you are established, “Don’t step over the dollar to pick up the dime”
I think there are 2 fascinating aspects in this show. 1. We can see that everyone has a very unique relationship with money, and Ramit tries very hard to convince them that their individual viewpoint may not be the only way to look at things. 2. Ramit is great at responding positively to almost anything someone says, makes them comfortable and then delivers a counter-argument if any. This way you don’t feel like the disagreement is with the person, but with the viewpoint. This itself is a niche skill, and would end millions of arguments within couples all over the world. I would recommend every couple to watch at least 5-10 episodes of this show for a happier married life!
Throughout the podcast I kept hearing indications that they were used to following Dave Ramsey. The whole budgeting, every dollar has a name and you tell it what to do, thing. Beans and rice. Etc. The rigidity of the DR approach ties in well with Travis' military background, where there is one right way to do everything. They needed to be able to take that figurative step back and realize that they are doing far better than most and that they *will* be okay (50% pension inbound in the next couple of years plus 7 income properties). Tomorrow is not guaranteed. Their kids are tweens and older. Now is the time to cut themselves a little bit of slack, make some memories. Ramit is so helpful with getting people to look at things from a different point of view.
Investing into real estate with debt is NOT the Ramsey way. They may have picked up Ramsey teachings along the way, but that isn't what they are doing.
I hope Travis learns to trust Natalie's judgment more when it comes to spending on the kids and house. Like if there ever was a time to believe your spouse when they say prices have gone up, it's now! I'm a recovering optimizer. Sometimes enough is enough and you and your family have lives to live 😌
If you've lost properties in the past because you didn't have margin, why not pay down the properties you have and have less risk? This hunger to get more properties is the root of their stress.
I agree, I don’t understand this. Of course, he could put less into his TSP and pay down something…or sell one and put that toward the others. These cannot be expensive properties..isn’t the total like $700k?
I just started watching Ramit's videos. He is more than a financial guy. He is a positive, empathic life counselor. He turns feelings into words so they can be examined along with the numbers. Fun to watch.
Your series changed me and my husband's thinking by 180 degrees. I have a degree in economics, with over decades of experience in the financial field, and no one has ever explained to me how to use money, neither in the degree nor at any point in my life. Thank you Ramit ❤️ Dorit and Shay Salomon, Israel
Travis is very telling at 13:16 when he is describing what freedom from money would mean to him. He is teaching English abroad or building things for months in another country. Never at any time does he say it is going to be great to spend his time with his family when he retires. He is off saving the world on his own. There is no future for his kids and wife in his plan. This couple has major issues aside from financial.
Red flag: military family. Always has one person "checked out".... disconnected. What's reasonable costs to a mainland parent vs. World traveler... liv8ng in a different culture, different country, different perception.
If you stuck around to the 38:00 timeframe, he talked about taking their kids on service projects, past and in the future. Dude has good values and is sharing them with his children. Sounds like he just wants to do more of that.
So was the big takeaway this week that they are not able to meet all their needs because they were actually over-investing? Sounds like with four kids, their expenses have gone up but they haven't really acknowledged that or adjusted their spending plan to reflect their new reality. It's sad to hear they tell their kids they can't afford things when the reality is they can, but they're still too focused on the future-a future they've more than amply prepared for. I'd much rather they tell the kids they won't be buying something in service of a bigger goal. That's a more honest approach and a better lesson. But it also sounds like they're living a more austere life than they truly need to.
Absolutely! I think with some decent communication, a restructuring of their goals and giving themselves a bit of grace they’d find a lot more peace. They seem to have been making it pretty hard on themselves by being so strict about their money. Travis has set an unreasonable budget so that they can invest, I also don’t think that he understands the burden for Ashley to live under this harsh budget while taking care of the house and children. I think all of his concerns and hers could be alleviated if they got to redoing their budget they’ve put off for a year and actually made it reasonable - all spending if going to seem frivolous if it’s coming out of savings.
I agree. I stopped this recently and tell my kids “I can’t get that because I’m saving for an emergency. I’ll see if it can fit in the plan next month.”
I'm guessing, but many of us think property is cash-flowing, but there are costs that are sucking up your money and your life. So slow down, enjoy your family and sell the property that is the least profitable. You have alot of life left to keep making money, but you have limited time with your kids. Your family is Mission One. Don't waste it (I speak from experience).
First time listening, I LOVE this format! I'm so used to hosts being so dramatic and having callers in who are terrible with their money. It feels like watching the financial version of jerry springer. This was so helpful and insightful! New subscriber!
I love this couple! They had to buckle down during hard times but they can stop white knuckling their life now. A balanced approach to daily life sounds so much better. They won’t regret it!
Truly not trying to be mean or offensive… but I think he dislikes his wife. He talks about himself first, throws in his kids a little, nothing on a future with her… seems like she’s an employee to him and is being judged on performance. Poor woman. If she were my friend I would advise her to get a job of her own when she feels like her youngest is old enough and start learning her value and worth cause he’s tearing her down.
Her rich life goals were literally to spend time alone. Nothing about him either. Just bc someone has specific desires to spend time doing something they love by themselves doesn’t mean they inherently dislike their spouse
I really enjoyed the humanity and kindness you showed towards this couple and the clearheadedness in helping find a solution. I’m so happy I found your channel.
This was amazing! Well done Natalie and Travis. You are impressive…..with what you have done prior and then a change to a better future….for you both personally. Loved this conversation and resolution.
The first 6 minutes of this interview got me. Husband thinks they spend $750 to skate at the park and eat pizza 🤔, in reality wife spends less than $200 😅... classic dad not knowing what's going on 🎂
@@moobyworldmine part of the birthday was a fishing trip which I think hadn't happened yet which would be another 80-90 so 10 to 20 over not double or quadruple the original budget
This one has the best update ever!! They included the actual financial and personal changes. Most of the other shows they just say how they felt after but don't say what they did or changed.
Your Netflix show started me on the journey to change my whole outlook on personal finances. I straight away found your podcast on Spotify and then finally found your wonderful RUclips Channel. My whole psychology has changed and I am on the path to living my Rich Life after difficult decisions. I hope many many many other people benefit from your advice. You are making positive changes in so many peoples lives. Nice work Ramit 🙂
Really great hearing this video...and what a great couple Natalie/Travis, I'm happy for them and the success they've accomplished at an early age - please take more time to celebrate!!!. Like Travis I constantly moved to the next project/mission (leveling up), and had a hard time celebrating the journey which I've started to do now. Great show!
This concept use to stress us out. I could not plan for those small things, or when the kid outgrew the shoes we just bought. We created a buffer line in our budget. It has helped so much.
I was literally about to say...at least enjoy the time you try to save. Man, seems like such a hardworking couple and I get how being hardworking/successful can become a hamster wheel
A mum rIsing 4 kids alone has many random expenses. How can Travis expect to understand her need for money if hes deoloyed? Thats not fair on Natalie. As a mum I have random expenses abd cost of living is affecting all our bydgets dauly. He should stiop coin counting and make more money.
Found you through The Minimalists and then watched your Netflix Series. Your outlook on money is the same as mine, but I had no practical steps to get to where I wanted. Now I do. I'm hooked on your content!
Congratulations on your Netflix show Ramit. I'm certain that it is the direct product of all the hard work you've done behind the scenes that we don't see. Well deserved!
It must be annoying to be the one in charge of keeping the house going and managing the kids and then being accused of overspending. He should manage the home and kids for 3 months and then his opinion can be more respected. Toilet paper and school supplies don’t just magically appear.
Just by watching 3 Netflix episodes I caught you saying "don't pay your financial investor 1%!" I looked up to see what my $346k investment into an IRA & Roth account meant with my Financial Planner, paying 1%. It mean't I have paid $19k in fees in 2 years. I felt sick. I unlinked my financial advisor and moved my money to the IRA advice for Vanguard Index funds you recommended, with no fees. In a week, I will be able to do the 70/30 mix you recommended, complete with the fund ID's. We live in N. CA. Have a few rental properties, a Dollar General grocery store, and own a small home, No credit card debt. But maintaining the properties, and a home, can use up all our monthly income with little to no vacations. I also work as a stylist full time in my own salon suite. I can't wait to soak up the rest of your so-valuable information. It would be so nice to have a little vacation money, spend a little on self improvement, and get a much needed hot tub for my aching joints. I also drive a 2009 vehicle that I love.
Love this podcast and look forward to it every week. Been a follower for 10+ years. The music at the end of each episode sounds like you are being played off stage though 😂
Congrats on Netflix! Look forward to watching. This episode was awesome. Very cool hearing from a military couple. I can definitely relate to wanting 30k in gold under my mattress in case the financial system collapses... One idea for Travis if you see this: totally respect the humanitarian energy but perhaps direct it to domestic causes. Volunteer tourism typically does more harm than good and often the people in countries we consider poor don't actually want our help.
I don't think he would fit into the "volunteer tourist" category. As a marine, he'd have amazing skills to share after natural disasters, in war-torn countries, etc. He's not just a random Joe looking for a cheap way to travel.
@@mdbarton1979 That's true but he mentioned Mexico, Thailand, and Indonesia, all of which are major tourist destinations. I've traveled through Mexico and Thailand and can say they have wealthy, middle class, and poor people just like the US. It's actually ironic because a lot of the Americans you meet in those countries are poorer than the locals. He doesn't need to seek out poor people to help in countries like that when there are plenty in his backyard.
@@bryce3323yes 100% so glad someone said this. I’ve also always felt it was weird to take your kids to show them the poor in another country as if those poor people are some kind of way to build self improvement in the rich. It’s weird.
My hubby is in the army and optimizes time. Just because someone "invited" you to that get together at 11 AM for lunch... Does not mean that we need to be there at 11. We have the ability to 'choose' to feed the kids and reach there at 12 instead. No one died. No one even missed you. No one else reached there at 11. I am so happy we keep our finances separate because he has this guilty feeling about spending as well. He's not this crazy though thankfully. I love him and would like to continue to love him... So keeping things separate helps us.
Ramit, I love your podcast and your RUclips channel. I'll often start listening to the episode in my car during my commute and end watching at home so I can see their faces. (Often the people look nothing like I expect--haha!). I have one suggestion for your RUclips. People like me, who are total numbers and spreadsheet geeks love to SEE the numbers. Do you have any idea how many RUclips channels there are devoted to people just showing their spreadsheets and budgets? We want the visual! If you could get those spreadsheets/conscious spending plan numbers on the screen it would be a big "value add" to watching the episode rather than just listening.
The best Show for anyone!!!! The most valuable stories you could ever hear and get without your own experience! I feel like I lived these stories my self and got then in my mind as my own life lessons 🎉🎉
Hi! I watched the Netflix show, also some youtube videos. Is what I need to learn more, find a better and healty way with money. Thank you, Ramit! I am from Romania and I think is not a shame to show your numbers, how good or bad you are doing. It is awesome to have a second opinion, same feedback. And magic if is something that can help. I am struggling a bit, mother of 3 kids, 2 from my first marriage. The best financiall period was when I was on my own with my 2 first kids. Congrats to the couple, they are learning to be better!
Congratulations Travis and Natalie I think you’ve worked hard to get where you are and show a lot of resilience as a couple! When your kids graduate I would cash out of your rich neighborhood in SoCal, hire a property manager, move to a lower cost location and really enjoy yourselves!
I am amazed that he can be that tight with money being in the military because when we were in we had constant military social type of activities that we were expected to host or attend and they always cost money .. and you never knew how many you had!! I am glad that they are on some kind of budget thou because I also see a lot of people retire with nothing saved !!
Great episode, Ramit. Great couple and and wish them all the best. I think one aspect of the problem that did not come out from the discussion but I can sense it, is that Travis consider that he is the one bringing in the money and his wife is a spender. This is a big challenge and source of stress for stay home moms. Husbands do not understand that staying at home to take care of their kids while they are working is a full time job! I would also suggest couples to each have a small portion of their budget set aside for their individual personal needs. They can spent on small things without asking the permission from the spouse.
The marine should not have gotten married or have children which require eating food, driving cars, celebrating birhdays…why did he have children if he wanted to invest all his money?
Thank you Ramit for all the excellent information about finances and important information in life I love everything about finances also put it in acción but not my husband but I know he will and trying to teach him and my son🙏🙏❤️❤️💪🏿💪🏿really Thankful for you in our life
I was in a similar situation but with only 2 kids. I like spending on the family. My husband likes spending on our rentals. He wouldn't mind spending 1600 on the washer/dryer for our rental house (even though we're not required to provide them to tenants) but he thought our 1300 dollar stroller was a lot. We had so many disagreements over spending. Now, I work 2 days a week and that is my spending money. His investments keeps us afloat. It seems to work for us. It's complementary to have a "cheap" person to make sure budgets are met and a "spendy" person to make sure we enjoy ourselves. Not every couple is on the same page financially but their marriage can still work. Our method may not be right for everyone but it works for us.
My Amazon strategy is to put items in the cart, but only place an order once or twice a month. I also consolidate the deliveries to one day to streamline the unboxing and putting away. This couple is like two peas in a pod! Hurrah!
You cannot "allocate" money to an online shop that's a"catch all" for everything. You can say that the card linked with Amazon cannot go above 'this' spend every month. But that cannot be low balled like 100$ and done.
It's interesting to see how the structure around money can affect how we relate to the partner we are in a relationship with as well as how the kids form a certain psychology of money along the way. Money is really to be enjoyed as we save and invest. 😊😊
Natalie eyes look VERY sad. Her heart is broken. God bless her and husband. I pray Travis really look at her soul and show compassion. Travis you are a control freak...so am I so no judgement😂. Love on your wife. She's feeling drained. ❤
Many good points Ramit gave I see Travis writing them down - which is great - but I feel that it wouldn't cement in their head while writing it down. Maybe it'd be best to have them say it out loud as well. Maybe if Travis reads these comments, he can take this and question himself if he really truly took to heart some of these great points that he's writing down, and if not, maybe dwell on them further to really take them in.
Such valuable information! I am glad you have a variety of people on because we all can learn from each one regardless of our financial situation. Thank you for this RUclips and Podcast and for the people sharing. Actual information everyone can use and not all the other junk on the internet! Kudos Ramit! I admire how your changing the financial landscape and the status quo!
Enjoyed your Netflix show. I got out of debt completely over a year ago and paid off a car within 10 months last year. I have no debt and plan to stay that way.
Gosh, they have plenty. It’s amazing that they just don’t realise it. Even setting aside all the assets they have, he’s also got a 50%+ government guaranteed pension coming up at the age of 50 until he dies, followed by survivor benefits for his spouse/dependents if they outlive him. They aren’t high earners but from a security of income point of view, his government employment sets them up very well.
I felt huge sadness when Natalie said create memories with the children before they leave home.....I wish I could have done this ......instead of spending money during the first 5 years of parenting on things they cant even remember and then struggling all through their teenage years. If only I had known...
love this show, I too make a good living but just never feel safe that expenses keep going up and I have to keep saving and investing to make more to keep up.
I watched the Netflix... i like these better though... they get to the point faster and there is more emotional depth and less fluffy filler... but what u do is awesome and sooooo needed 💚💚💚🙏
I think what would make her feel financially safe is knowing she won’t be in major debt again after short selling 6 properties (which is unrealistic)… she’s traumatized.
Over leveraging on income producing properties is dangerous especially in California with the rent moratorium which allows renters to delay their payment responsibilities
Here’s how I see it. That 11 year old son- he’s not worth it to you? Your kids have friends and go to their parties but this is a huge burden to the budget? Stop being so ungrateful Would you rather your kids have no friends Be bullied and cry in their room never leaving?
The reason this is frustrating is they literally just need to sit down monthly and update allocated spending to reflect inflation & very normal/predictable life changes as their kids age. There’s not much satisfying about just watching longterm security and extremely stable portfolios being slowly revealed. Just not much to learn from this except “adjust your budget periodically.”
![Tee Grizzley - Robbery 8 [Official Video]](http://i.ytimg.com/vi/34_vkNV6wrU/mqdefault.jpg)
0:00 Please remember: These are real people who had the courage to come on my podcast and ask for help. Would you be willing to come on this podcast and share every detail of your financial life? Feel free to leave comments based on what you think, but remember that we are here to help in a supportive way, not to demean and criticize.
Only people from the US?
I'm trying to help my friends see the lense of financial freedom and they can't grasp it. Yet I am able to stay at home with my new born twins while they work day in and day out.
42:54
Outstanding segment . Thank you all for the courage to share!!
😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅😅ooooooooooooooooooooiiooooooooooooooooooooooooooooooooooooooooooioooiio😅o😅oooooooooooo😅😅ooo😅oooioooooooooooooooooooooooooooooooooooooooiiiooooooooiiioooooooooooooooookoooooo😅o😅ooooooooooooooooo😅o😅oi😅😅 I oooioooooooooooooooooooooooooooooooooooooooiiiooooooooiiioooooooooooooooookooooooo ooippp the best of all things oiiooooooiooooooooooiioioooooooooioooooooooooolooolllkooooioooooooookioooooooo you o ooki😊ioooiiiiooooooooooooiooooooooooooioiioooooooooooooooliiiooooooooooloooooiioooooo
I remember Dave Ramsey’s daughter was with a caller and she said “women buy things that the whole house needs and often get blamed for spending too much, but it’s because they’re taking care of buying for everyone”. I think it’s easy to think a purchase was unnecessary when you don’t really know what was needed to begin with. They seem super solid and wow, very inspiring as far as setting yourself up for a rich financial future. Great episode
I love that take. It's honestly really true for a lot of households
Oh my gosh. At 28:05 when you said, "Celebrating is a really important skill" I think Travis is literally taking note of that--he's writing it down. You spoke his language. A skill? He's like, ooh, a skill I'm lacking? I'm on it! Hahaha.
This episode was really great because both guest truly were open to feedback and wanted to improve their situation.
That's military for you. For fun my brother-in-law practices wilderness survival, learns Russian, and cooks. Zero materialism. Military also has the total opposite, I don't think they stay in that long though.
That's a hilarious observation. I wouldn't have caught that. Thanks for pointing it out lol
Adorable
I grew up with a parent who constantly told me we couldn't afford things and he wouldn't even come to my high school theatre shows because it cost $7 for a ticket. In truth the reality was the opposite of what he said and if I could tell these 2 on this episode anything it's that you will make your kids feel like your money is more important than them. It's not about saying yes to everything they want or "spoiling" them or spending more than you have just for them... It's about making them feel like a financial burden.
and trust me when i say they do realise when you tell them you dont have any money for them and they see you buying smokes and alcohol every single week..
@@qwertyqwert2772I realised it....they would always get alcohol...but would rant about money even for my essential stuff
I feel this in my bones. I am the youngest of 4. Both parents worked but mom was the source for all the daily expenses so we lived frugally while my dad spent on himself. We never had money to go on vacation, mom made clothes for us, we always heard how money was tight. Then I (10 years old) was returning from the store (on the bike I had to pay for) with a loaf of bread. It swung into the spokes of the tire and was shredded. I started sobbing cause I thought this was our bread for the week - all we could afford. When I made it home, my parents laughed at my reaction. The scales fell from my eyes and I saw their protestations of poverty were false. I (57) still find I get angry when my hubby complains about some expense he has. I also made sure I had 5 year goals from high school on so I would not make my family live under the same yoke of poverty my parents kept us in.
So heartbreaking that you lost a lot of your childhood joy because a a false narrative about your family's financial situation.
Same here. Parents could never afford clothes. I had 2 outfits and had to wear the same thing every weekend. When it got really bad, my parent got used clothes from her friends kids who were much older. Imagine being 5'2" and wearing jeans for girl who is 5'9".
“When does the grind stop and the enjoyment begin?” Profound.
He doesn't seem to realize that he is the only one stopping that enjoyment from happening.
They can run concordance but most people don’t understand how
Such a wonderful show. I love how respectful you are to your guests, you guide them on new paths, rather than just lecturing them
I feel for Natalie, running a household and kids takes up so much time. No wonder she feels that time is such an asset
They both are working hard. Being the sole provider is hard work, too. With inflation, both parties, stay at home mom and dad, the sole provider, will feel it.
This is insane. Why would they do this to themselves. They have no control.
I’ve been where she is. All the weight of day to day financial decisions on her, and the scrutiny and pressure from him. It didn’t end well after 25 years and 3 kids for me. Wishing them the best. I suggest ongoing counseling ❤🙏🏻
No.... get their financial house in order. They will be happier.
@amykean6125 you forgot how the money was made in the first place. That would be a very important part of it. You should stop with the side taking B.S.
It’s interesting. Travis mentions how he lived amongst 7-8 income earners, and the effect it has on his kids. But I do think it’s affecting him and his wife as well. When you’re surrounded by more wealth than you have. It doesn’t matter how rich you are, you’ll always feel poor. It’s amazing to me that someone in the 1% income bracket + 7 rental properties with a small mortgage between all of them still feels poor. Most Americans would kill to just own their own home.
“I can’t imagine how all this is going to come out when you publish,” he says, looking fleetingly concerned…. Blankfein insists he is “well-to-do”, not rich. “I can’t even say ‘rich’,” he insists. “I don’t feel that way. I don’t behave that way.” -- Lloyd Blankfein, Former Goldman Sachs CEO (Net Worth = $1.16B USD)
I feel broke. Inflation is killing me and I have a LOT of stocks and investments. I am cash poor because I will not allow myself to do ANYTHING. I don't go to movies anymore, i have cut cable and streaming for over 4/5 years, I live almost like I am homeless. All of this to retire and not eat Cat food and have money later in life. My only "happiness" is free stuff like RUclips or Facebook videos on my computer.
@@edwardaldrich7213sounds like a terrible life
I’m damn near poor and been around wealth and it doesn’t affect me at all. Not saying you’re wrong but being that my worth is in art and not in posting on line and trying to do what others do, I’m chilling. I’ve been doing rich life stuff apparently in 30g a year salary lol
@@edwardaldrich7213How much do you need to retire? I feel like you may already might be at a good spot and maybe start enjoying a tad bit. Not all of it, but maybe a $10 streaming service or a nicer pillow or some better quality tires than usual, when it’s time to replace.
Early on “watch the Pennies and the dollars will take care of them selves.”
But once you are established, “Don’t step over the dollar to pick up the dime”
I think there are 2 fascinating aspects in this show. 1. We can see that everyone has a very unique relationship with money, and Ramit tries very hard to convince them that their individual viewpoint may not be the only way to look at things. 2. Ramit is great at responding positively to almost anything someone says, makes them comfortable and then delivers a counter-argument if any. This way you don’t feel like the disagreement is with the person, but with the viewpoint. This itself is a niche skill, and would end millions of arguments within couples all over the world. I would recommend every couple to watch at least 5-10 episodes of this show for a happier married life!
I’m learning so much from these podcasts - not just about money, but my own psychology about money from learning from the guests on the show
No money will be enough for this couple. What’s the purpose of making money if you can’t enjoy it?
They just need balance on it
Throughout the podcast I kept hearing indications that they were used to following Dave Ramsey. The whole budgeting, every dollar has a name and you tell it what to do, thing. Beans and rice. Etc. The rigidity of the DR approach ties in well with Travis' military background, where there is one right way to do everything. They needed to be able to take that figurative step back and realize that they are doing far better than most and that they *will* be okay (50% pension inbound in the next couple of years plus 7 income properties). Tomorrow is not guaranteed. Their kids are tweens and older. Now is the time to cut themselves a little bit of slack, make some memories. Ramit is so helpful with getting people to look at things from a different point of view.
Investing into real estate with debt is NOT the Ramsey way. They may have picked up Ramsey teachings along the way, but that isn't what they are doing.
I hope Travis learns to trust Natalie's judgment more when it comes to spending on the kids and house. Like if there ever was a time to believe your spouse when they say prices have gone up, it's now!
I'm a recovering optimizer. Sometimes enough is enough and you and your family have lives to live 😌
If you've lost properties in the past because you didn't have margin, why not pay down the properties you have and have less risk? This hunger to get more properties is the root of their stress.
I agree, I don’t understand this. Of course, he could put less into his TSP and pay down something…or sell one and put that toward the others. These cannot be expensive properties..isn’t the total like $700k?
I just started watching Ramit's videos. He is more than a financial guy. He is a positive, empathic life counselor. He turns feelings into words so they can be examined along with the numbers. Fun to watch.
Your series changed me and my husband's thinking by 180 degrees.
I have a degree in economics, with over decades of experience in the financial field, and no one has ever explained to me how to use money, neither in the degree nor at any point in my life.
Thank you Ramit ❤️
Dorit and Shay Salomon, Israel
Same here. I’ve never cared about money and I found Ramit Feb 8th and my whole understanding and approach is changed
I lost it when Ramit started counting fingers over the properties, lol. Perfect comedic timing! Iconic. Need this as a GIF.
I read this just before this part. I couldn’t agree more, perfect GIF
Travis is very telling at 13:16 when he is describing what freedom from money would mean to him. He is teaching English abroad or building things for months in another country. Never at any time does he say it is going to be great to spend his time with his family when he retires. He is off saving the world on his own. There is no future for his kids and wife in his plan. This couple has major issues aside from financial.
Red flag: military family. Always has one person "checked out".... disconnected. What's reasonable costs to a mainland parent vs. World traveler... liv8ng in a different culture, different country, different perception.
Exactly. Concerning
Wow
If you stuck around to the 38:00 timeframe, he talked about taking their kids on service projects, past and in the future. Dude has good values and is sharing them with his children. Sounds like he just wants to do more of that.
Around 37:00, he goes into way more detail.
So was the big takeaway this week that they are not able to meet all their needs because they were actually over-investing? Sounds like with four kids, their expenses have gone up but they haven't really acknowledged that or adjusted their spending plan to reflect their new reality.
It's sad to hear they tell their kids they can't afford things when the reality is they can, but they're still too focused on the future-a future they've more than amply prepared for. I'd much rather they tell the kids they won't be buying something in service of a bigger goal. That's a more honest approach and a better lesson. But it also sounds like they're living a more austere life than they truly need to.
Absolutely! I think with some decent communication, a restructuring of their goals and giving themselves a bit of grace they’d find a lot more peace. They seem to have been making it pretty hard on themselves by being so strict about their money. Travis has set an unreasonable budget so that they can invest, I also don’t think that he understands the burden for Ashley to live under this harsh budget while taking care of the house and children. I think all of his concerns and hers could be alleviated if they got to redoing their budget they’ve put off for a year and actually made it reasonable - all spending if going to seem frivolous if it’s coming out of savings.
I agree. I stopped this recently and tell my kids “I can’t get that because I’m saving for an emergency. I’ll see if it can fit in the plan next month.”
I'm guessing, but many of us think property is cash-flowing, but there are costs that are sucking up your money and your life. So slow down, enjoy your family and sell the property that is the least profitable. You have alot of life left to keep making money, but you have limited time with your kids. Your family is Mission One. Don't waste it (I speak from experience).
First time listening, I LOVE this format! I'm so used to hosts being so dramatic and having callers in who are terrible with their money. It feels like watching the financial version of jerry springer. This was so helpful and insightful! New subscriber!
I love this couple! They had to buckle down during hard times but they can stop white knuckling their life now. A balanced approach to daily life sounds so much better. They won’t regret it!
Resilience ❤
This couple was a joy to listen to. They really listened to what was being said and paused to consider and digest. 👍👍
Impossible to watch this as a couple without re-analysing your own situation. 😮❤😂🎉
Truly not trying to be mean or offensive… but I think he dislikes his wife. He talks about himself first, throws in his kids a little, nothing on a future with her… seems like she’s an employee to him and is being judged on performance. Poor woman. If she were my friend I would advise her to get a job of her own when she feels like her youngest is old enough and start learning her value and worth cause he’s tearing her down.
Her rich life goals were literally to spend time alone. Nothing about him either. Just bc someone has specific desires to spend time doing something they love by themselves doesn’t mean they inherently dislike their spouse
I really enjoyed the humanity and kindness you showed towards this couple and the clearheadedness in helping find a solution. I’m so happy I found your channel.
This was amazing! Well done Natalie and Travis. You are impressive…..with what you have done prior and then a change to a better future….for you both personally. Loved this conversation and resolution.
The first 6 minutes of this interview got me. Husband thinks they spend $750 to skate at the park and eat pizza 🤔, in reality wife spends less than $200 😅... classic dad not knowing what's going on 🎂
Completely false cause they did go over budget.
@@moobyworldmine after expenses. The husband stated it.
@@moobyworldmine part of the birthday was a fishing trip which I think hadn't happened yet which would be another 80-90 so 10 to 20 over not double or quadruple the original budget
Nothing to do with dad. It's the person.
@@moobyworldminehe said at first that they went over then she said they didn’t.
This one has the best update ever!! They included the actual financial and personal changes. Most of the other shows they just say how they felt after but don't say what they did or changed.
I love this so much! Teaching people to enjoy money rather than feeling the need to constantly grind
Your Netflix show started me on the journey to change my whole outlook on personal finances. I straight away found your podcast on Spotify and then finally found your wonderful RUclips Channel. My whole psychology has changed and I am on the path to living my Rich Life after difficult decisions. I hope many many many other people benefit from your advice. You are making positive changes in so many peoples lives. Nice work Ramit 🙂
Really great hearing this video...and what a great couple Natalie/Travis, I'm happy for them and the success they've accomplished at an early age - please take more time to celebrate!!!. Like Travis I constantly moved to the next project/mission (leveling up), and had a hard time celebrating the journey which I've started to do now. Great show!
Great comment!
I hear shiver in her voice, thats from lack of confidence from a partner. Be on same page people and trust your partner (emotionally and financially)
This concept use to stress us out. I could not plan for those small things, or when the kid outgrew the shoes we just bought. We created a buffer line in our budget. It has helped so much.
I love how much he probes into the WHY behind feelings and actions
Congrats on the Netflix special. I love this episode, nobody at fault, they just needed someone to align things and adjust their focus.
It‘s so nice to see genuinely good people doing well.
I was literally about to say...at least enjoy the time you try to save. Man, seems like such a hardworking couple and I get how being hardworking/successful can become a hamster wheel
A mum rIsing 4 kids alone has many random expenses. How can Travis expect to understand her need for money if hes deoloyed? Thats not fair on Natalie. As a mum I have random expenses abd cost of living is affecting all our bydgets dauly. He should stiop coin counting and make more money.
Found you through The Minimalists and then watched your Netflix Series. Your outlook on money is the same as mine, but I had no practical steps to get to where I wanted. Now I do. I'm hooked on your content!
Congratulations on your Netflix show Ramit. I'm certain that it is the direct product of all the hard work you've done behind the scenes that we don't see. Well deserved!
Lovely couple! Wish them a very successful and joyful life together.
You provide so much value, Ramit! Thank you for all you do.
This is my first RUclips episode, I usually listen on Spotify. I'm hooked, great episode :)
It must be annoying to be the one in charge of keeping the house going and managing the kids and then being accused of overspending. He should manage the home and kids for 3 months and then his opinion can be more respected. Toilet paper and school supplies don’t just magically appear.
Annoying is one word for it. Fundamentally sexist against women’s gender assigned roles is more like it
Just by watching 3 Netflix episodes I caught you saying "don't pay your financial investor 1%!" I looked up to see what my $346k investment into an IRA & Roth account meant with my Financial Planner, paying 1%. It mean't I have paid $19k in fees in 2 years. I felt sick. I unlinked my financial advisor and moved my money to the IRA advice for Vanguard Index funds you recommended, with no fees. In a week, I will be able to do the 70/30 mix you recommended, complete with the fund ID's. We live in N. CA. Have a few rental properties, a Dollar General grocery store, and own a small home, No credit card debt. But maintaining the properties, and a home, can use up all our monthly income with little to no vacations. I also work as a stylist full time in my own salon suite. I can't wait to soak up the rest of your so-valuable information. It would be so nice to have a little vacation money, spend a little on self improvement, and get a much needed hot tub for my aching joints. I also drive a 2009 vehicle that I love.
This was a very good video! Thank u to Travis and Natalie for sharing their story. Sending best wishes to them!:)
Wonderful advice to an awesome couple. I hope they live long, healthy, happy lives!
Love this podcast and look forward to it every week. Been a follower for 10+ years. The music at the end of each episode sounds like you are being played off stage though 😂
41:32 Mic drop Ramit!!! Always getting to the core of it. Amazing 🤩
Congrats on Netflix! Look forward to watching. This episode was awesome. Very cool hearing from a military couple. I can definitely relate to wanting 30k in gold under my mattress in case the financial system collapses... One idea for Travis if you see this: totally respect the humanitarian energy but perhaps direct it to domestic causes. Volunteer tourism typically does more harm than good and often the people in countries we consider poor don't actually want our help.
I don't think he would fit into the "volunteer tourist" category. As a marine, he'd have amazing skills to share after natural disasters, in war-torn countries, etc. He's not just a random Joe looking for a cheap way to travel.
@@mdbarton1979 That's true but he mentioned Mexico, Thailand, and Indonesia, all of which are major tourist destinations. I've traveled through Mexico and Thailand and can say they have wealthy, middle class, and poor people just like the US. It's actually ironic because a lot of the Americans you meet in those countries are poorer than the locals. He doesn't need to seek out poor people to help in countries like that when there are plenty in his backyard.
@@bryce3323yes 100% so glad someone said this. I’ve also always felt it was weird to take your kids to show them the poor in another country as if those poor people are some kind of way to build self improvement in the rich. It’s weird.
@@bryce3323 I think its called "white saviour" complex
@@mygoodlife204very much white savior complex
Ramit actually asked a mom of 4 kids when was the last time she had leisure time 😂😮🤔
The youngest is 11 years old and in school all day. It's not like she has 3 kids under age 5. It's not a crazy question.
This was really well done and easy to watch.
My hubby is in the army and optimizes time. Just because someone "invited" you to that get together at 11 AM for lunch... Does not mean that we need to be there at 11. We have the ability to 'choose' to feed the kids and reach there at 12 instead. No one died. No one even missed you. No one else reached there at 11.
I am so happy we keep our finances separate because he has this guilty feeling about spending as well. He's not this crazy though thankfully.
I love him and would like to continue to love him... So keeping things separate helps us.
I love your show. I’m a new subscriber. Looking forward to see your show. Thank you for all your content. ❤
Ramit, I love your podcast and your RUclips channel. I'll often start listening to the episode in my car during my commute and end watching at home so I can see their faces. (Often the people look nothing like I expect--haha!). I have one suggestion for your RUclips. People like me, who are total numbers and spreadsheet geeks love to SEE the numbers. Do you have any idea how many RUclips channels there are devoted to people just showing their spreadsheets and budgets? We want the visual! If you could get those spreadsheets/conscious spending plan numbers on the screen it would be a big "value add" to watching the episode rather than just listening.
I just binge watched your Netflix show, it was AMAZING!!!!! I wish there were more episodes!! Please make another season!
Definitely looking forward to another season 😸
The best Show for anyone!!!!
The most valuable stories you could ever hear and get without your own experience! I feel like I lived these stories my self and got then in my mind as my own life lessons 🎉🎉
Hi! I watched the Netflix show, also some youtube videos. Is what I need to learn more, find a better and healty way with money. Thank you, Ramit!
I am from Romania and I think is not a shame to show your numbers, how good or bad you are doing. It is awesome to have a second opinion, same feedback. And magic if is something that can help. I am struggling a bit, mother of 3 kids, 2 from my first marriage. The best financiall period was when I was on my own with my 2 first kids.
Congrats to the couple, they are learning to be better!
With 7 properties that are cash flow positive, they should be OK for the future once those properties are mortgage free
This episode is so good.
Congratulations Travis and Natalie I think you’ve worked hard to get where you are and show a lot of resilience as a couple! When your kids graduate I would cash out of your rich neighborhood in SoCal, hire a property manager, move to a lower cost location and really enjoy yourselves!
I am amazed that he can be that tight with money being in the military because when we were in we had constant military social type of activities that we were expected to host or attend and they always cost money ..
and you never knew how many you had!! I am glad that they are on some kind of budget thou because I also see a lot of people retire with nothing saved !!
Great episode, Ramit. Great couple and and wish them all the best. I think one aspect of the problem that did not come out from the discussion but I can sense it, is that Travis consider that he is the one bringing in the money and his wife is a spender. This is a big challenge and source of stress for stay home moms. Husbands do not understand that staying at home to take care of their kids while they are working is a full time job! I would also suggest couples to each have a small portion of their budget set aside for their individual personal needs. They can spent on small things without asking the permission from the spouse.
Congratulations Ramit! I loved this new format, and look forward to watching, learning, and implementing more. Thank you.
The marine should not have gotten married or have children which require eating food, driving cars, celebrating birhdays…why did he have children if he wanted to invest all his money?
Thank you Ramit for all the excellent information about finances and important information in life I love everything about finances also put it in acción but not my husband but I know he will and trying to teach him and my son🙏🙏❤️❤️💪🏿💪🏿really Thankful for you in our life
Congrats on the Netflix show! I’m so excited to see it and have recommended your book to all my friends. 🎉
I was in a similar situation but with only 2 kids. I like spending on the family. My husband likes spending on our rentals. He wouldn't mind spending 1600 on the washer/dryer for our rental house (even though we're not required to provide them to tenants) but he thought our 1300 dollar stroller was a lot. We had so many disagreements over spending. Now, I work 2 days a week and that is my spending money. His investments keeps us afloat. It seems to work for us. It's complementary to have a "cheap" person to make sure budgets are met and a "spendy" person to make sure we enjoy ourselves. Not every couple is on the same page financially but their marriage can still work. Our method may not be right for everyone but it works for us.
My Amazon strategy is to put items in the cart, but only place an order once or twice a month. I also consolidate the deliveries to one day to streamline the unboxing and putting away. This couple is like two peas in a pod! Hurrah!
This was amazing! I hope the best for this couple!
Thanks for sharing. I’m learning so much ❤
Started listening on Spotify and got so curious of the visual. Thanks for leveraging all the platforms! Very well done.
Celebrating is an important skill. Yes!!
You cannot "allocate" money to an online shop that's a"catch all" for everything. You can say that the card linked with Amazon cannot go above 'this' spend every month. But that cannot be low balled like 100$ and done.
It's interesting to see how the structure around money can affect how we relate to the partner we are in a relationship with as well as how the kids form a certain psychology of money along the way. Money is really to be enjoyed as we save and invest. 😊😊
We all may think differently but that’s the point of his great question at 12:53
Money to me:
1. Abundance
2. Opportunities
3. Freedom
True poverty is having 800k & feeling poor when there’s 10k people that feel rich
Natalie eyes look VERY sad. Her heart is broken. God bless her and husband. I pray Travis really look at her soul and show compassion. Travis you are a control freak...so am I so no judgement😂. Love on your wife. She's feeling drained. ❤
No no no 😊
@@victorbaird8220 Yes. Yes. Yes. Enjoy your day!
It's kind of weird that this retirement in 4-5 years doesn't include a vision that has his family as part of it.
I myself am a CW3 and can say being financially independent is an amazing feeling! Keep it up!!
Very hard going from saver/investor to retired early/spender.
But I’m figuring it out.
Dude Remit! I love you man! When you heard they were cash flow positive on their SEVEN properties “what am I doing here right now?”
Many good points Ramit gave I see Travis writing them down - which is great - but I feel that it wouldn't cement in their head while writing it down. Maybe it'd be best to have them say it out loud as well. Maybe if Travis reads these comments, he can take this and question himself if he really truly took to heart some of these great points that he's writing down, and if not, maybe dwell on them further to really take them in.
Such valuable information! I am glad you have a variety of people on because we all can learn from each one regardless of our financial situation. Thank you for this RUclips and Podcast and for the people sharing. Actual information everyone can use and not all the other junk on the internet! Kudos Ramit! I admire how your changing the financial landscape and the status quo!
Enjoyed your Netflix show. I got out of debt completely over a year ago and paid off a car within 10 months last year. I have no debt and plan to stay that way.
I Love How this is the Second Lady who says that her idea of happiness is having her nails done
This is a Powerful Conversation !!!!!!!
Loved this! Thank you both for your courage and for sharing your knowledge.
I got promoted but let's not celebrate by getting ice cream with my family. 🤦
Great advice and great video!!! You are a very wise man!!!!
Gosh, they have plenty. It’s amazing that they just don’t realise it.
Even setting aside all the assets they have, he’s also got a 50%+ government guaranteed pension coming up at the age of 50 until he dies, followed by survivor benefits for his spouse/dependents if they outlive him.
They aren’t high earners but from a security of income point of view, his government employment sets them up very well.
I felt huge sadness when Natalie said create memories with the children before they leave home.....I wish I could have done this ......instead of spending money during the first 5 years of parenting on things they cant even remember and then struggling all through their teenage years. If only I had known...
love this show, I too make a good living but just never feel safe that expenses keep going up and I have to keep saving and investing to make more to keep up.
I watched the Netflix... i like these better though... they get to the point faster and there is more emotional depth and less fluffy filler... but what u do is awesome and sooooo needed 💚💚💚🙏
I think what would make her feel financially safe is knowing she won’t be in major debt again after short selling 6 properties (which is unrealistic)… she’s traumatized.
Over leveraging on income producing properties is dangerous especially in California with the rent moratorium which allows renters to delay their payment responsibilities
Here’s how I see it. That 11 year old son- he’s not worth it to you?
Your kids have friends and go to their parties but this is a huge burden to the budget?
Stop being so ungrateful
Would you rather your kids have no friends
Be bullied and cry in their room never leaving?
The reason this is frustrating is they literally just need to sit down monthly and update allocated spending to reflect inflation & very normal/predictable life changes as their kids age. There’s not much satisfying about just watching longterm security and extremely stable portfolios being slowly revealed. Just not much to learn from this except “adjust your budget periodically.”