The Zack Arnold Podcast Ramit Sethi on Forging The Path Towards Your Own 'Rich Life'
There are few moments scarier in life than when you examine where you are in your career and say to yourself:
“I don’t want to be doing this anymore.”
Whether you’ve been pigeonholed your entire career and you hate the kinds of projects you work on today, or because you can’t financially afford to say ‘No’ to the wrong gigs, or because you’re afraid of building something on your own because it’s easier to work for others, or [insert your excuse here], it’s hard coming to the realization that you need to make a major change in your life. The only thing harder than that moment...is the years of hard work that comes after it.
What differentiates those who successfully make major life transitions versus those who continue to stay stuck? What differentiates the “winners” from everyone else? Whether you are pursuing your ‘dream job’ or building your own business, how can you put yourself in the financial position to have greater freedom over your future career choices, global pandemic or otherwise?
And most importantly, how do YOU define your version of a “Rich Life?”
In today’s podcast interview I have the pleasure of chatting with one of the world’s foremost experts on all of these topics. Ramit Sethi is the founder of I Will Teach You to Be Rich, and author of the New York Times bestseller, "I Will Teach You To Be Rich." He writes about money, business, and psychology for 1 million+ readers every month. And he is also my business mentor and the #1 influence that helped me transition from being “just an editor” to making a living on my terms by podcasting, coaching, & mentoring.
Get ready for 60+ minutes of knowledge bombs, because this podcast could change the direction of your entire life. And if you don’t believe that’s possible, my entire life changed five years ago the first time I heard Ramit Sethi on a podcast, and I wouldn’t be here today had I not listened, taken notes, and most importantly...taken action.
Interested in starting your own business and learning from the best?
» Click here to learn more about Ramit's 'Earnable' program
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Here's What You'll Learn:
- The story behind the (scammy sounding) “I Will Teach You To Be Rich” brand name. Why Ramit called it that and how he responded to pressure to change the name.
- How frustrating it can be when you really want to help people and know you’re good at it, but people don’t want to listen. And how that frustration can lead to your first ‘pivotal moment’ as a potential entrepreneur.
- How Ramit started his financial blog with no expectation of making money at it.
- The big break that changed the trajectory of his life, and how Ramit works to engineer the ‘good luck’ that attracts those opportunities.
- Why professional freelancers & business owners are often better equipped to handle economic uncertainty. (Like the "unprecedented" COVID-19 pandemic we're currently living through.)
- Ramit’s advice for people who don’t want to rely on someone else’s projects for income and want to start a business of their own, but don’t know where to start.
- Try this powerful exercise: “If you had prepared for a pandemic what would that look like?”
- The importance of saying “no” to gigs that don’t align with your goals as a freelancer. And how so many of us find ourselves running in place or pigeonholed because we keep saying “yes” to the wrong projects.
- What does it really mean to pursue a rich life?
- How to take this pandemic as an opportunity - even when it looks like a huge setback.
- Ramit Sethi’s “C.E.O.” model of creating a rich life.
- The “Ah-Ha!” moment when Zack realized: “There’s a limit to what I can cut, but no limit to what I can earn.”
- Why most of us are asking the wrong financial questions. Discover the kinds of questions we should be asking instead.
- How to overcome the fear: “Who do I think I am? How dare I try to start a business and ask people for money in exchange for my services?”
- How to create a system to organize your finances with multiple bank accounts and set yourself up for ‘guilt-free spending’. (Learn more in chapter 5 of Ramit’s book.)
- How Zack’s ‘guilt-free spending’ account might have saved his marriage.
Useful Resources Mentioned:
Ramit Sethi's Earnable program
Ramit Sethi's book: I Will Teach You To Be Rich
Ep43: How to Optimize Your Finances As a Freelancer or Small Business Owner | with Sylvia Inks
Ep93: How to Organize & Prepare Your Finances As a Freelancer | Community Q&A
Ep96: Making Sense of the Unemployment + Small Business Loans Train Wreck | Community Q&A
Ep97: When Are We Going Back to Work? And How Can We Earn Income Now? | Community Q&A
Ep99: How to Provide Value & Get Paid What You’re Worth | Community Q&A with Monica Daniel
My Review of Ramit Sethi's "Zero to Launch" Course
Guest Bio:
Ramit Sethi is the founder of I Will Teach You to Be Rich (www.iwt.com), and author of the New York Times bestseller, I Will Teach You To Be Rich. He writes about money, business, and psychology for 1 million+ readers every month. Follow him on Twitter (@ramit), Instagram (@ramit), and Facebook.
Show Credits:
This episode was edited by Curtis Fritsch, and the show notes were prepared and published by Glen McNiel.
The original music in the opening and closing of the show is courtesy of Joe Trapanese (who is quite possibly one of the most talented composers on the face of the planet).
Note: I believe in 100% transparency, so please note that I receive a small commission if you purchase products from some of the links on this page (at no additional cost to you). Your support is what helps keep this program alive. If you have any questions, please don’t hesitate to contact me.
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