Is Your Fund Money Around 5 or 10% of Your Portfolio?

Personal-finance icon Ramit Sethi from I Will Teach You to be Rich joins me for an episode of the Financial Independence Podcast!

Ramit first published his New York Times best-selling book, I Will Teach You to be Rich, back in 2009 during the depths of the financial crisis.

He just released the second version today so we discuss what’s changed in the last decade and also talk about FIRE (Financial Independence, Retire Early) – a concept that’s taken the financial world by storm in recent years.

This is the first time Ramit has talked about FIRE so it was great getting his opinions on it, especially since he’s often thought of as being on the opposite end of the financial spectrum (my first podcast guest, Mr. Money Mustache, has even jokingly referred to him as his “arch-rival in personal finance”).

Ramit didn’t hold back (does he ever?) so hope you enjoy this one as much as I did!

Highlights

• What Ramit likes about FIRE (and what he doesn’t)
• When you should pay more instead of less
• How to cure yourself from extreme frugality
• Why you need to maximize for value instead of cost
• How to break out of the spreadsheet and start living life