Ramit SethiRamit Sethi: The No-BS Guide to Living a Rich Life

No matter your age, please keep investing | IWT 102 OUT now! #personalfinance #financialfreedom

31 May 2023 · 1 min

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Ramit Sethi walks through concrete investment targets: aim for $1,000 a month, allocate 15% of your budget to investments, and keep going no matter your age. He reviews one viewer's $180,000 portfolio and pension, then shares how an injury taught him to stick with the long-term plan.

Questions this video answers

$1,000 per month.

$180,000.

Fixed costs 50%; investments 15%; savings 10%; guilt-free spending 20%.

Chapters

I'd like for you to be putting away a thousand bucks a month in investments. The good news, I will say, is that, Mike, you got a pension, you got $180,000 invest. That is really good. But the next few years of working are an amazing opportunity for you to aggressively invest. I always like to start off with, like, the key numbers I want to hit. I would say I want my fixed cost to be 50% of income. Okay. I want my investments to be 15%. I want my savings to be 10%. And the thing is, you don't even spend that much on guilt free spending. So put it to 20. What you got to do is have the vision. It's kind of like I got an injury on my arm. I can't swim as fast as I want to. That's okay. Just gonna treat it right. It's gonna heal. It's gonna take approximately nine months or however long, and then I'm gonna be able to swim faster and redirect some of my money here and there. You got to have the vision to be able to do that.