{"id":353072,"date":"2026-08-04T07:48:14","date_gmt":"2026-08-04T12:48:14","guid":{"rendered":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/272-we-own-two-houses-but-cant-afford-dinner-out"},"modified":"2026-08-04T07:48:22","modified_gmt":"2026-08-04T12:48:22","slug":"272-we-own-two-houses-but-cant-afford-dinner-out","status":"publish","type":"post","link":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/272-we-own-two-houses-but-cant-afford-dinner-out","title":{"rendered":"272. \u201cWe personal two homes, however can\u2019t afford dinner out\u201d"},"content":{"rendered":"<p><\/p>\n<div>\n<p><iframe loading=\"lazy\" title=\"&quot;We own two houses, but can\u2019t afford dinner out&quot;\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/EAKHqZkJRUM?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"\/><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"\/><\/span><\/iframe><\/p>\n<p><iframe loading=\"lazy\" style=\"border-radius: 12px;\" src=\"https:\/\/open.spotify.com\/embed\/episode\/4wGVr6RxD2vE4TIFJGSguP\/video?utm_source=generator&amp;si=92dd583b75a94f56\" width=\"100%\" height=\"400\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\" data-testid=\"embed-iframe\" data-mce-fragment=\"1\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"\/><\/span><\/iframe><\/p>\n<p><span style=\"font-weight: 400;\">Ramit Sethi of <\/span><i><span style=\"font-weight: 400;\">I Will Teach You To Be Rich<\/span><\/i><span style=\"font-weight: 400;\"> speaks with Nicole and Drew, 39 and 40, who are expecting their first child in just two weeks. They split their time between Southern California and Maui, where they each own a home. Nicole bought her house after Drew made it clear that continuing to stay with roommates was not an option.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Today, they earn $296,700 a year, own $1.25 million in assets, and have a net worth of more than $500,000. But their two homes consume over 40% of their income, and once their numbers are corrected, their fixed costs rise to 85%. Despite their high income, they feel unable to eat out, attend concerts, or enjoy the life they have worked to build.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nicole is a psychology professor who plans everything down to the dollar and worries about having enough savings. Drew is a life coach and therapist-in-training who admits that she often goes by \u201cvibes\u201d and trusts that things will work out. With a baby arriving and their savings falling, they must decide whether Drew can realistically double her income or whether they need to sell the Maui house.<\/span><\/p>\n<h4><strong>In this episode we uncover:<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\"> \u2022 Why Nicole bought a house within months of Drew\u2019s housing non-negotiable<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 How they ended up supporting two homes in two different states<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 Why earning nearly $297,000 still leaves them feeling financially trapped<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 Their $1.25 million in assets and nearly $1 million of debt<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 Why their fixed costs jumped from 77% to 85%<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 How their two homes consume more than 40% of their income<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 Nicole\u2019s numbers-first approach and Drew\u2019s habit of going by \u201cvibes\u201d<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 How grad school, flooding, and a $29,000 sewer repair drained their savings<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 Why the baby may not increase their expenses as much as expected<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 How Nicole\u2019s sabbatical gives them a temporary financial window<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 Why their Maui house is co-owned without a clear written agreement<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 Whether Drew can realistically double her income after graduating<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 Why depending on one future income increase is a major financial risk<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 How selling the Maui house could release around $150,000<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 Why selling could reduce their fixed costs to approximately 65%<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 How they could keep Maui in their lives without owning property there<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 How they can build a plan that does not require everything to go perfectly<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 Why \u201cspaciousness\u201d becomes the center of their new Rich Life vision<\/span><span style=\"font-weight: 400;\"><br \/><\/span><span style=\"font-weight: 400;\">\u2022 The decision Ramit believes they need to make before their savings fall further<\/span><\/p>\n<h4><strong>Chapters:<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">(00:00:00) Introduction<\/span><br \/><span style=\"font-weight: 400;\">(00:03:09) Two homes in two different states<\/span><br \/><span style=\"font-weight: 400;\">(00:07:03) Nicole kept her housing costs at just 12%<\/span><br \/><span style=\"font-weight: 400;\">(00:08:18) Drew\u2019s housing non-negotiable changed everything<\/span><br \/><span style=\"font-weight: 400;\">(00:14:43) Nicole tracks the numbers, Drew goes by \u201cvibes\u201d<\/span><br \/><span style=\"font-weight: 400;\">(00:21:26) What does their Rich Life actually look like?<\/span><br \/><span style=\"font-weight: 400;\">(00:24:47) Ramit reviews their Conscious Spending Plan<\/span><br \/><span style=\"font-weight: 400;\">(00:25:53) $1.25 million in assets and $986,000 of debt<\/span><br \/><span style=\"font-weight: 400;\">(00:28:15) They earn $296,700 but still feel squeezed<\/span><br \/><span style=\"font-weight: 400;\">(00:29:46) Their fixed costs are higher than they realised<\/span><br \/><span style=\"font-weight: 400;\">(00:32:50) Two homes consume 40.5% of their income<\/span><br \/><span style=\"font-weight: 400;\">(00:34:50) Grad school, flooding, and expensive home repairs<\/span><br \/><span style=\"font-weight: 400;\">(00:40:16) Their real fixed costs jump to 85%<\/span><br \/><span style=\"font-weight: 400;\">(00:45:19) Can they afford their new baby?<\/span><br \/><span style=\"font-weight: 400;\">(01:06:01) Drew\u2019s \u201clife will provide\u201d money mindset<\/span><br \/><span style=\"font-weight: 400;\">(01:12:00) Are they actually on track for retirement?<\/span><br \/><span style=\"font-weight: 400;\">(01:24:39) Ramit reveals their retirement projections<\/span><br \/><span style=\"font-weight: 400;\">(01:33:19) Selling could reduce their fixed costs to 65%<\/span><br \/><span style=\"font-weight: 400;\">(01:50:07) Redefining their Rich Life around \u201cspaciousness\u201d<\/span><br \/><span style=\"font-weight: 400;\">(01:53:04) Ramit\u2019s final assessment<\/span><\/p>\n<h4><strong>This episode is brought to you by:<\/strong><\/h4>\n<p><span style=\"font-weight: 400;\">Factor | Head to <\/span><a href=\"http:\/\/factormeals.com\/ramit50off\"><span style=\"font-weight: 400;\">https:\/\/factormeals.com\/ramit50off<\/span><\/a><span style=\"font-weight: 400;\"> and use code RAMIT50OFF to get 50% off and one free breakfast item per box for one year, while supplies last until 10\/31\/2026. See website for more details.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Gusto | Try Gusto at <\/span><a href=\"http:\/\/gusto.com\/ramit\"><span style=\"font-weight: 400;\">http:\/\/gusto.com\/ramit<\/span><\/a><span style=\"font-weight: 400;\"> and get 3 months free when you run your first payroll<\/span><\/p>\n<p><span style=\"font-weight: 400;\">LMNT | Get a free LMNT Sample Pack with any order at <\/span><a href=\"https:\/\/drinklmnt.com\/RAMIT\"><span style=\"font-weight: 400;\">https:\/\/drinklmnt.com\/RAMIT<\/span><\/a><\/p>\n<p><span style=\"font-weight: 400;\">Trust &amp; Will | Protect what matters most in minutes at <\/span><a href=\"https:\/\/trustandwill.com\/ramit\"><span style=\"font-weight: 400;\">https:\/\/trustandwill.com\/ramit<\/span><\/a><span style=\"font-weight: 400;\"> and get 20% off\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">DeleteMe | Get 20% off all consumer plans when you go to <\/span><a href=\"https:\/\/joindeleteme.com\/ramit\"><span style=\"font-weight: 400;\">https:\/\/joindeleteme.com\/ramit<\/span><\/a><span style=\"font-weight: 400;\"> and use promo code RAMIT at checkout<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019re part of a small group listening to this podcast that is willing to take action, I built Road to $100K for you &#8211; a step-by-step program on how to reach $100K. Join Rich Life: Road to $100K at <\/span><a href=\"http:\/\/iwt.com\/100K\"><span style=\"font-weight: 400;\">iwt.com\/100K.<\/span><\/a><\/p>\n<h2 aria-level=\"2\"><b><span data-contrast=\"none\">Transcript:<br \/><\/span><\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Ramit [00;00;00;03 &#8211; 00;00;19;05]: I&#8217;m about to speak to Nicole. Andrew? They&#8217;re 39 and 40 years old. Expecting a baby in a matter of weeks. And they both live in two different states, in two different homes that they each purchased. Nicole applied to speak to me. Let me read you from her application, she wrote. My partner basically needed me to buy a house.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;00;19;05 &#8211; 00;00;40;04]: It was a non-negotiable for drew to stay with me in a house without roommates. So I ended up buying a place in, wondering if that was a mistake. She continues on to say, we are unable to eat out and to go to concerts because we are putting all of our funds into houses and needs. It consumes me and worries me so much.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;00;40;05 &#8211; 00;01;03;20]: Now, if somebody said to me, hey, we intentionally are making this sacrifice because we want to build equity and blah blah blah. Okay, but that&#8217;s not what I&#8217;m hearing here. I&#8217;m hearing panic. I&#8217;m hearing regret. I&#8217;m hearing uncertainty, especially with a baby near. Do I want to take a look at their numbers by pulling up their conscious spending plan?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;01;03;21 &#8211; 00;01;39;18]: Okay, let&#8217;s take a look. Assets 1.2 million. Investments 183,000. Savings at 67,000. Debt 986,000. Total net worth 516,000. Now fixed costs 77%, which is quite high. Explains some of the panic that I heard in the application. Investments at 3%, that&#8217;s quite low. Savings at 10%, guilt free spending at 10%. When I look at their financial situation, the word that comes to mind for me is complicated.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;01;39;20 &#8211; 00;02;07;21]: Two houses, two different states. Panic over what to do about their finances, and a baby coming in a matter of weeks. I want to get to the bottom of this. Let&#8217;s begin by speaking to Nicole and Drew. Let&#8217;s go back to the moment where you were filling out this application. Do you remember where you were? What was going on at that moment that called you to apply to speak to me?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;02;07;22 &#8211; 00;02;22;06]: Yeah, we&#8217;d been having a lot of conversations about our housing situation, given the fact that we are supporting two households and two different states. Housing costs are the biggest part of our, I guess, CSP.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;02;22;08 &#8211; 00;02;27;11]: And what is the tenor of those conversations that you&#8217;d had?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;02;27;13 &#8211; 00;02;35;00]: Tough. At times it feels like we have slightly different goals and that&#8217;s okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;02;35;02 &#8211; 00;02;36;01]: Why is it tough?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;02;36;02 &#8211; 00;03;06;19]: We both really love our various home bases for important reasons. I have family and community in Southern California and that&#8217;s really important to me. And drew has family and community that, you know, she has built in Maui. And for either of us to give up that community is really tough. And it has been a conversation of, can we actually support two households with our income?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;03;06;20 &#8211; 00;03;07;27]: I see, yeah, okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;03;07;29 &#8211; 00;03;16;04]: Let me understand your living situation now. So we have Southern California, Hawaii. What&#8217;s the situation with the houses?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;03;16;07 &#8211; 00;03;32;09]: We are bicoastal. Couple drew owns a 50% share of her house in Maui, and it generates income through like, rent. And I own the house here in Southern California.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;03;32;11 &#8211; 00;03;38;21]: The house that you own a 50% share in. Is that your primary residence as well? Yes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;03;38;27 &#8211; 00;03;45;26]: It&#8217;s kind of like a boarding house. Is the structure. It&#8217;s two, three bedrooms and then two studios.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;03;45;28 &#8211; 00;03;47;19]: Oh, yeah. Where do you live?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;03;47;24 &#8211; 00;03;49;05]: Oh, one of the three bedrooms.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;03;49;06 &#8211; 00;03;55;22]: Got it. Yeah. We&#8217;ll look at the income later. But is the income that it generates consistent for you? Yes. Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;03;55;24 &#8211; 00;04;05;10]: What&#8217;s inconsistent is the, like, repairs and housing costs that I because I&#8217;m new so I don&#8217;t have I didn&#8217;t have like the numbers all laid out yet as far as what to expect.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;04;05;17 &#8211; 00;04;07;22]: Do you make a profit?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;04;07;29 &#8211; 00;04;09;13]: Yeah. Sometimes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;04;09;15 &#8211; 00;04;17;14]: Okay. Okay. Yeah. And then Nicole, your house that you live in, that&#8217;s your primary residence. How many bedrooms does it have?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;04;17;14 &#8211; 00;04;18;18]: Two bedrooms. One bath.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;04;18;19 &#8211; 00;04;19;11]: Got it. Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;04;19;12 &#8211; 00;04;36;20]: When I&#8217;m not teaching, we spend our time in Maui. And during that time, I rent out this Southern California home. And then drew rents out the three bedroom space when we&#8217;re not in Maui.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;04;36;24 &#8211; 00;04;47;22]: So I&#8217;m very curious to look at the numbers and see how it how it plays out. Okay. That&#8217;s cool. And a time period. Like how much time are you spending in Southern California versus Maui and vice versa?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;04;47;24 &#8211; 00;04;50;06]: It depends. It&#8217;s approximately 5050 though.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;04;50;07 &#8211; 00;04;51;29]: Okay. Like six months, six months.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;04;52;00 &#8211; 00;05;04;03]: About I spend a little bit I need to spend a little bit more because I teach and I have to be on campus. But drew will come a little bit later and go a little bit earlier to prepare the house. And now. Cool.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;05;04;04 &#8211; 00;05;05;09]: So what do you teach?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;05;05;10 &#8211; 00;05;06;29]: I teach psychology.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;05;07;00 &#8211; 00;05;07;19]: Oh, cool.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;05;07;21 &#8211; 00;05;08;05]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;05;08;06 &#8211; 00;05;10;11]: All right. One of psychology.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;05;10;13 &#8211; 00;05;12;11]: Developmental and research.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;05;12;12 &#8211; 00;05;16;16]: Cool. Very cool. All right. Awesome. When is baby due?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;05;16;17 &#8211; 00;05;20;01]: In two weeks. Two less than what?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;05;20;04 &#8211; 00;05;22;00]: We. Oh my God, congratulations.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;05;22;03 &#8211; 00;05;27;25]: Could happen right here, right now. If you&#8217;re lucky, doctor.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;05;28;01 &#8211; 00;05;30;18]: Best episode ever. First baby.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;05;30;19 &#8211; 00;05;31;07]: Yes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;05;31;08 &#8211; 00;05;35;28]: Okay, just so I understand, how long have the two of you been together?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;05;36;01 &#8211; 00;05;38;10]: Two. Yeah, two and a half years.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;05;38;11 &#8211; 00;05;41;02]: Okay. Married? Unmarried.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;05;41;04 &#8211; 00;05;44;15]: We&#8217;re on the road to our domestic partnership.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;05;44;16 &#8211; 00;05;46;00]: Oh, cool. Okay. Yeah. Great.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;05;46;02 &#8211; 00;05;47;16]: Just more legal hurdles.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;05;47;17 &#8211; 00;05;56;16]: Okay, cool. Now, I do want to ask about the housing situation for a second. Nicole, I understand that you were living with roommates.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;05;56;20 &#8211; 00;05;57;24]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;05;57;26 &#8211; 00;06;01;16]: And I think you were quite conscious of your expenses. Is that right?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;06;01;17 &#8211; 00;06;27;23]: Extremely so. Okay. So I was a really poor grad student for a really long time and made basically no money. I covered my tuition costs like, I didn&#8217;t want to take on student loan debt. And so I lived with roommates. And then even when I got my full time job, I was living with roommates because I was let&#8217;s see, my housing costs were like 12%.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;06;27;24 &#8211; 00;06;35;02]: Whoa. So you were a full time professor living with roommates? Yeah. In love. Yeah. This is so.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;06;35;04 &#8211; 00;06;35;15]: It was.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;06;35;15 &#8211; 00;06;54;01]: Great counterculture. Yeah, I love this. But just think of it. Who in America can can even fathom the idea? Like, I became a full professor, and I am choosing to live with roommates. No. We believe. Oh, I made it to this level. Now I need an SUV, I need this house, I need that vacation, etc.. And you were like, no.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;06;54;03 &#8211; 00;07;11;10]: No, it was amazing for me, okay? I could save money. I could put money into retirement. Things I&#8217;d been wanting to do for forever. I was in my 30s when I finally got this job and it was like, oh my God, I can finally catch up. And I could go, like I was living life so well, I could go out to eat and not worry about it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;07;11;10 &#8211; 00;07;16;14]: I didn&#8217;t have to think about a budget because I knew I could cover it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;07;16;15 &#8211; 00;07;40;07]: Yes. Okay, then, in your application, you wrote the following. My partner basically needed me to buy a house. I was living with roommates when drew and I met. I was intentional about saving money. It was a non-negotiable for drew to stay with me in a house without roommates. So I ended up buying a place. Im wondering if that was a mistake.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;07;40;09 &#8211; 00;07;43;19]: Take me back to that conversation. Yeah. What happened?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;07;43;25 &#8211; 00;08;15;07]: Basically, drew said that if I wanted her to come and spend time with me, there could not be roommates. So it was like, okay, well, if I want to continue this relationship, I don&#8217;t want to be fully long distance. That&#8217;s going to have to change somehow. I did want to eventually buy a house, and I had been pretty aggressively saving, like I&#8217;d been putting $4,000 a month into a fund to buy a house.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;08;15;09 &#8211; 00;08;32;09]: And so it was like, okay, well, I could just move up the timeline a little bit, you know, instead of two years from now. I could just do it now. And instead of the $4,000 a month going into a savings for this house, it will go into the mortgage for the house.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;08;32;11 &#8211; 00;08;34;25]: How soon after that conversation did you buy the house?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;08;34;25 &#8211; 00;08;35;28]: Three months.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;08;35;29 &#8211; 00;08;36;11]: Fast.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;08;36;12 &#8211; 00;08;37;16]: Okay, fast.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;08;37;17 &#8211; 00;08;40;18]: Drew, what was going on in that conversation for you?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;08;40;19 &#8211; 00;09;08;13]: Well, you know, she couldn&#8217;t come to Maui full time because of her job, and so that would have been the ideal. You know, like, I have a house come here. And what was going through my mind was like, I can&#8217;t live with these random people. And, you know, I just couldn&#8217;t live like that. Why? I think there are circumstances where it could have been okay if there was some private space or like a better bathroom situation.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;09;08;14 &#8211; 00;09;18;09]: It just was for me. I felt like I was in college and I had been living a different way for so long. I couldn&#8217;t go back and live like that. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;09;18;10 &#8211; 00;09;27;18]: Was that like a major disagreement for you, or was it like drew, you said, this is what I need. And then Nicole, you were like, okay, cool. Bought the house.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;09;27;18 &#8211; 00;09;55;18]: There was pushback. And actually, we had had the conversation earlier. We had had the conversation maybe 6 to 9 months earlier. And I had said, can we wait for I think I said, a year and we made it six months. And she was like, I can&#8217;t do this anymore. Like, it&#8217;s got to be either that or I&#8217;m just not coming for this next semester.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;09;55;20 &#8211; 00;10;18;17]: And so it was like, okay, well, I saved for six more months. It&#8217;s not the full year, but it&#8217;s at least half of it. We can at least start looking. We can see what&#8217;s within my budget. And so I started looking and we found ourselves very quickly.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;10;18;19 &#8211; 00;10;21;25]: Housing market. Yeah. The housing market was crazy.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;10;21;28 &#8211; 00;10;24;06]: How did you decide to buy versus rent?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;10;24;07 &#8211; 00;10;29;03]: Okay, so I know your philosophy on buying a house, but and.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;10;29;03 &#8211; 00;10;31;08]: I think what is my philosophy on buying a house?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;10;31;09 &#8211; 00;10;34;10]: That you should know your numbers and only do it if it&#8217;s right for you.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;10;34;13 &#8211; 00;10;37;24]: Oh, God. Yes, you are correct.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;10;37;26 &#8211; 00;10;59;11]: And you personally don&#8217;t own a house yet. And that&#8217;s okay. That&#8217;s right. For you. And so I think at the time, the decision was right for me in terms of I did run the numbers, it was within the percentage that was like reasonable a little on the high end, you know, but it was around the like a third of my income.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;10;59;12 &#8211; 00;11;13;01]: Good. And for being in Southern California, it felt like it was okay. I was already saving the amount that I was going to be putting towards a mortgage. It felt like it was an okay decision at the time. Great. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;11;13;03 &#8211; 00;11;36;03]: All of that sounds amazing. Ideal. You ran the numbers. It was roughly within parameters. You had already been saving the amount that you would then pay for the mortgage. Yeah. Amazing. So, you know, you&#8217;ve proven excellence that you can do that. I want to know about a time in the last, let&#8217;s say, a year where maybe you were not on the same page with money.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;11;36;11 &#8211; 00;11;40;02]: Maybe it caused tension for the two of you. Can you think of a time?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;11;40;05 &#8211; 00;12;08;12]: Yeah. What? We had a thought. Oh, I don&#8217;t know if it became a fight, but when we were talking under the tree at Nicole&#8217;s parent&#8217;s house, I can see it in my mind. It was just so tumultuous, and I don&#8217;t actually remember what was happening. But I remember my internal state was, like, one of feeling so much agitation, like, you know, brewing, that I wanted to just hit the eject button and just be like, I can&#8217;t do this, and I need to go on a walk.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;12;08;13 &#8211; 00;12;09;14]: What was the topic?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;12;09;15 &#8211; 00;12;22;02]: It was like actual numbers about something. But I did have to, like, walk away, like calm myself down and then be like, okay, I can go back and I can talk about numbers for another hour.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;12;22;08 &#8211; 00;12;23;20]: Nicole, do you remember the topic?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;12;23;21 &#8211; 00;12;51;16]: Yeah, we were talking about housing and school. So drew is currently in school right now and so paying for tuition. And that&#8217;s been tough. And then we&#8217;ve had some issues with actually a little bit of instability with the renting situation in Maui. And it&#8217;s been pretty stressful. And so we were having some really tough conversations about how to make that work.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;12;51;23 &#8211; 00;12;56;11]: Well, what was your perspective like in a couple of sentences?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;12;56;14 &#8211; 00;13;05;25]: There needs to be enough cushion so that if things go wrong, we don&#8217;t have to scramble to get just anyone.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;13;05;26 &#8211; 00;13;09;06]: Okay. And what was your reaction to that, drew?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;13;09;12 &#8211; 00;13;23;11]: Overwhelm. Just like. Yes. Like my my reaction is yes to, you know, we need to have somebody we need to have a plan. You know, we need more of a cushion and then just some overwhelm.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;13;23;11 &#8211; 00;13;31;24]: I&#8217;m curious about the way you said yes. You&#8217;re like, yes, yes, but also no. Well.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;13;31;24 &#8211; 00;13;36;10]: I&#8217;m like, yes. And I don&#8217;t know what the numbers are and I don&#8217;t know how to make that happen.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;13;36;11 &#8211; 00;13;36;24]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;13;36;25 &#8211; 00;13;41;13]: I&#8217;m not a numbers person, but I&#8217;m getting excited about numbers in life and being more grounded.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;13;41;13 &#8211; 00;13;56;27]: I think what actually made it more of a conflict was that I&#8217;m really numbers driven and practical, and it was like, okay, we&#8217;re going to need $3,000 for this and we&#8217;re going to need, you know, x, y, z amount that we want to put away into a fund just for this. And how do we do that?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;13;56;27 &#8211; 00;13;59;12]: And and what did you notice about Drew&#8217;s reaction?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;13;59;13 &#8211; 00;14;03;04]: Yeah, it was too much detail.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;14;03;05 &#8211; 00;14;18;05]: That&#8217;s what I remember. It was like so like the minutia of it all was so overwhelming because it was numbers almost to like the cent or something, you know, it was just really intense for me. And I felt really frustrated.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;14;18;06 &#8211; 00;14;21;09]: Are you used to avoiding numbers?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;14;21;12 &#8211; 00;14;44;17]: I mean, sort of I have dyscalculia, but you know, that&#8217;s one thing that might contribute to it. And I do feel like I go by vibes, you know, and I can like feel the about of something, you know, like a roundabout, like I&#8217;m good with a generalized like it could be a 5 to 15 and I&#8217;m good.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;14;44;20 &#8211; 00;14;45;06]: Okay, okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;14;45;07 &#8211; 00;14;49;10]: There&#8217;s no need to figure out if it&#8217;s 895. Like it&#8217;s too much.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;14;49;12 &#8211; 00;14;58;01]: Got it. Got it. Yeah. And by your smile, I&#8217;m taking you treat money differently. Yes. How do you do it?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;14;58;03 &#8211; 00;15;19;16]: I wouldn&#8217;t say that. I am needing everything to be down to the scent, but I like to know to the dollar for relative things, and then I will. Like, I&#8217;m the one with the spreadsheet. And so I look at our 12 month average, or I&#8217;ll look at a six month average for things.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;15;19;17 &#8211; 00;15;21;00]: And what do you do for a living?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;15;21;01 &#8211; 00;15;28;12]: I am a life coach and I&#8217;m in grad school right now in my last year to get my therapist license. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;15;28;13 &#8211; 00;15;29;15]: Okay. Interesting.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;15;29;16 &#8211; 00;15;56;01]: I have been on a mission since I left Taiwan, where I lived my whole adult life, and since moving to the States, I&#8217;ve had to really, like ground in to reality a little bit. I&#8217;m very much a dreamer, and I&#8217;ve needed to start looking at finances and looking at numbers and think about insurance and houses and all of these things that I never really had to consider before.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;15;56;02 &#8211; 00;15;59;05]: Before. How were you able to not look at those things?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;15;59;06 &#8211; 00;16;18;19]: Oh, just in Taiwan, I was it&#8217;s just not such a big thing. You know, I&#8217;m not. The rent was, you know, minimal. And I didn&#8217;t have a car. I didn&#8217;t have, you know, health insurance is it&#8217;s. Everybody has health insurance. You know, it&#8217;s not something you have to get through an employer. So it&#8217;s just a really different way of living.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;16;18;21 &#8211; 00;16;33;25]: Got it. So coming back to the States for me or coming to the States as an adult, I felt really destabilized. I felt really behind. I felt there&#8217;s just a big opportunity to like, step into this. And yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;16;33;27 &#8211; 00;16;54;04]: I&#8217;m getting a few clues that are starting to help me piece together what&#8217;s happening here. We have drew. She&#8217;s a life coach. She&#8217;s not particularly interested in pinning down specific numbers. Something could cost five bucks, 15 bucks, whatever. We&#8217;re in the same ballpark. And then we have Nicole, who is structured about her finances. She likes to project things.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;16;54;04 &#8211; 00;17;05;16]: She likes to calculate things. What do you think? Are these two views on money compatible? Let me know in the comments below.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;17;05;19 &#8211; 00;17;12;22]: Are the two of you building towards a joint vision of a future together? Have you discussed what that is?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;17;12;25 &#8211; 00;17;30;07]: Very much so. The vision is to have more of a cushion and to retire with money, like put money in towards retirement. That&#8217;s it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;17;30;10 &#8211; 00;17;38;24]: Vision. Wait, that&#8217;s like today and 30 years from now, what about anything in between? Yeah. Hold on. Hold. Nicole, I know you have a vision. Go ahead. Drew.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;17;38;25 &#8211; 00;17;46;02]: Okay. Gosh, I really haven&#8217;t gone there in a little bit because I&#8217;ve been in the weeds. Yeah, and that feels emotional.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;17;46;02 &#8211; 00;17;51;09]: That&#8217;s okay. Put aside this vision that the two of you have talked about. What&#8217;s your vision?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;17;51;10 &#8211; 00;18;14;25]: My vision is community. My friends, my family. It&#8217;s one of my favorite things ever to go somewhere. Like our last one. We did Joshua Tree for a week and just have a bunch of friends come and just be together. Nice. Just totally relax. I love doing that on Maui, I love hosting, I love just having friends come and just enjoying life together.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;18;14;27 &#8211; 00;18;37;19]: I love really good food. We both love really good food and going out to amazing restaurants and trying different food. And yeah, like my dream, my vision for my life is that work is study. It&#8217;s it&#8217;s fulfilling. It&#8217;s pretty stress free. And I just get to enjoy my family and my community and nature in the beautiful places that we live.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;18;37;20 &#8211; 00;18;45;06]: Got it. Okay. Tell me about the role of the baby. Where does he fit in?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;18;45;08 &#8211; 00;19;11;21]: He came so fast, we actually thought we would have a couple more years. We were successful on our first try, so that&#8217;s beautiful and amazing. And it&#8217;s happening really fast. He fits in. He&#8217;s going to join our lives like we&#8217;re bringing this baby into our lives, which are going to be filled with love and play and community. And we&#8217;re just we&#8217;re bringing him into our fold.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;19;11;23 &#8211; 00;19;14;21]: You know, we just want to bring him with us, with whatever we want to do.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;19;14;22 &#8211; 00;19;20;17]: Got it. Okay, now, Nicole, I want to hear about your vision.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;19;20;18 &#8211; 00;19;55;20]: One of the things that actually attracted me most to drew was the fact that we have a similar vision in terms of so deeply valuing community and work life balance and wanting to live presently, not for the future. Okay, so even though we&#8217;ve talked a lot about retirement, I think that&#8217;s important. I think we are talking a lot about it because we do have a little bit of concern of when that will happen, but the primary thing for us is that we&#8217;re not waiting until retirement to enjoy our lives.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;19;55;22 &#8211; 00;20;24;28]: Like my goal for me personally, because I think yours is maybe even a better percentage of that, my goal is to not put more than 40% of my capacity as a human into work, and I want the other 60% for myself and my community and our child and our family. You know, I think that&#8217;s really valuable. I think sometimes we spend too much of our resources and time working.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;20;25;00 &#8211; 00;20;34;13]: And it&#8217;s not to say that I don&#8217;t want to work. You know, I do, and I enjoy my work, but I don&#8217;t want it to take up so much of our lives. I want us to live now.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;20;34;14 &#8211; 00;20;47;28]: Got it. Okay. That&#8217;s very helpful. Do you mind? Let&#8217;s take a look at the numbers. I want to understand what what we&#8217;re dealing with here. And then I think I&#8217;ll have a lot more questions. What was it like putting the conscious spending plan together?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;20;47;28 &#8211; 00;21;09;04]: It was kind of stressful. Again, probably me, because I it&#8217;s hard to find specific numbers. I&#8217;m like, that&#8217;s about this number. And that&#8217;s good enough. And, you know, Nicole would encourage me to like go and look and like actually find the number, which was annoying and beneficial. Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;21;09;08 &#8211; 00;21;11;03]: Yeah. And about for you, Nicole.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;21;11;05 &#8211; 00;21;17;10]: It was I had most of it already. And the parts I didn&#8217;t have, it was just fun I enjoyed it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;21;17;11 &#8211; 00;21;19;02]: Did you talk about it together?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;21;19;05 &#8211; 00;21;19;13]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;21;19;14 &#8211; 00;21;21;28]: Yeah, okay. We did. Any insights?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;21;22;05 &#8211; 00;21;24;23]: Yeah. I mean, it was very clear the source of our stress.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;21;24;24 &#8211; 00;21;25;24]: Which is what, in a.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;21;25;24 &#8211; 00;21;27;09]: Word, housing.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;21;27;11 &#8211; 00;21;29;08]: Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;21;29;11 &#8211; 00;21;31;08]: You&#8217;ll see. Our goals are crazy.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;21;31;10 &#8211; 00;21;39;18]: All right. Okay. Let&#8217;s see. Nicole, can you read off the word in bold and the number next to it for this entire box, please?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;21;39;19 &#8211; 00;21;59;20]: Okay, so assets is 1,252,000. Investments, 183,764. Savings, 67,269. And debt 986,526.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;21;59;21 &#8211; 00;22;01;08]: Total net worth.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;22;01;11 &#8211; 00;22;06;01]: 516,000 and $507.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;22;06;02 &#8211; 00;22;08;08]: Great. Okay. What do you think about those numbers?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;22;08;12 &#8211; 00;22;25;29]: It&#8217;s okay. Yeah. It&#8217;s like pretty. Pretty okay. I&#8217;m more worried about the other numbers. I think the one thing that I am concerned about is that the savings, it doesn&#8217;t cover us for very long.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;22;26;00 &#8211; 00;22;29;11]: 67,000. Okay. Yeah. Drew, what do you think about these numbers?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;22;29;12 &#8211; 00;22;37;01]: The debt number. I know that includes mortgage, but to see it laid out is astonishing.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;22;37;04 &#8211; 00;22;38;10]: Astonishing means what?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;22;38;11 &#8211; 00;22;48;06]: Just shockingly high. I know it&#8217;s very American, and it makes sense in this context, and it feels astonishing.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;22;48;07 &#8211; 00;23;18;22]: Okay. Drew and Nicole, you both have mortgage or let&#8217;s say, a house worth approximately similar amounts, 644 or 608,000. Okay. Investments we have, let&#8217;s just say out of 183,000. The vast majority of that is Nicole&#8217;s. Would that be fair to say? Yeah. Okay. Same with savings and then debt. Looking at it. Drew has 11 a mortgage of 427.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;23;18;25 &#8211; 00;23;31;18]: Nicole has a mortgage of 545,000. Yeah. Okay, let&#8217;s keep going down the list this time. Drew, I would like for you to read off your gross combined monthly income, please.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;23;31;21 &#8211; 00;23;34;02]: 24,725.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;23;34;03 &#8211; 00;23;37;21]: Okay, great. How much did you think you made per year?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;23;37;23 &#8211; 00;23;43;02]: I mean, I knew how much I made. This was the hard part. I didn&#8217;t know how much we made. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;23;43;04 &#8211; 00;23;44;18]: I didn&#8217;t think about it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;23;44;19 &#8211; 00;23;47;25]: You didn&#8217;t think about it? Like, did you have a sense?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;23;47;25 &#8211; 00;23;49;09]: I just knew it was enough.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;23;49;11 &#8211; 00;23;57;14]: Oh, okay. Okay. And in your application, do you recall what you wrote as your income?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;23;57;20 &#8211; 00;23;59;06]: Oh, I do 200 k.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;23;59;07 &#8211; 00;24;03;00]: 200 k. The actual number is. Can you read that number off, please?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;24;03;01 &#8211; 00;24;05;09]: $296,700.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;24;05;10 &#8211; 00;24;09;17]: Only off by $96,000 per year.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;24;09;18 &#8211; 00;24;11;20]: No big deal.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;24;11;23 &#8211; 00;24;15;07]: That&#8217;s wild. My job. What do you think about that?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;24;15;14 &#8211; 00;24;17;07]: That&#8217;s our combined annual income.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;24;17;08 &#8211; 00;24;17;26]: Yes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;24;17;27 &#8211; 00;24;22;00]: I mean, that&#8217;s pretty nice. That&#8217;s a nice number.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;24;22;01 &#8211; 00;24;23;04]: So you didn&#8217;t know that till now?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;24;23;06 &#8211; 00;24;23;16]: No.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;24;23;16 &#8211; 00;24;24;16]: No idea. Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;24;24;18 &#8211; 00;24;27;21]: Because it&#8217;s not on the sheet. It doesn&#8217;t normally come up in the CSP, right?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;24;27;22 &#8211; 00;24;29;07]: No, you have to. You have to buy 12.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;24;29;08 &#8211; 00;24;29;14]: Yeah, I.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;24;29;14 &#8211; 00;24;30;01]: Didn&#8217;t realize.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;24;30;04 &#8211; 00;24;31;16]: It&#8217;s price surprise.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;24;31;19 &#8211; 00;24;34;21]: That&#8217;s kind of interesting, right? Yeah. What did you think?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;24;34;23 &#8211; 00;24;57;01]: It&#8217;s not unexpected. Yeah. I knew exactly how much I made. And I had a sense of how much drew makes. Because I know how much rental income is generated and the small amount of coaching income. So I had a sense, but I didn&#8217;t know it was exactly that. I would have said probably 250, which is still pretty.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;24;57;03 &#8211; 00;25;05;24]: So we&#8217;re either 50 or $96,000 more than you thought. So are we done here? Are our problems solved?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;25;05;26 &#8211; 00;25;07;16]: No. Scroll down. Kick us out.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;25;07;22 &#8211; 00;25;17;10]: But how can that be, though? If there&#8217;s a money problem and you&#8217;re now making $100,000 more than you thought, aren&#8217;t we done?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;25;17;12 &#8211; 00;25;20;14]: That&#8217;s really cool.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;25;20;17 &#8211; 00;25;21;06]: No.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;25;21;13 &#8211; 00;25;21;23]: What do.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;25;21;23 &#8211; 00;25;25;23]: You call the fixed costs are almost all of that.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;25;25;25 &#8211; 00;25;26;11]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;25;26;12 &#8211; 00;25;26;20]: I.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;25;26;20 &#8211; 00;25;28;25]: See, because we&#8217;re still struggling every month.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;25;28;25 &#8211; 00;25;32;27]: I see. Yeah. Do you think if you made $50,000 more, the problem would be solved?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;25;32;28 &#8211; 00;25;33;06]: No.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;25;33;06 &#8211; 00;25;52;23]: Probably not. Yeah. So I&#8217;m glad, actually, that we have this massive disparity that we&#8217;ve all confronted, and we can laugh about it because we realized 100 K more than we thought, and it&#8217;s still not solving problems. Yeah. So let&#8217;s keep working our way down. Fixed costs. What&#8217;s that percentage there?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;25;52;24 &#8211; 00;25;53;29]: 7770.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;25;53;29 &#8211; 00;26;12;24]: 777%. So that right there explains yeah. Feeling stressed out about money, having disagreements under a tree about money and on and on and on. That explains it right there. Yes. It tells me so much about a couple. When I see that number, we&#8217;ll come back and drill down on that. Let&#8217;s just look at the rest of these. Your investments are at 3%.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;26;12;27 &#8211; 00;26;34;15]: So I do want to note that you are contributing $1,200 a month to your pretax, which is great. And on top of that 3%, which is $600 a month, it&#8217;s nice, not particularly high, but when we combine them, it&#8217;s it&#8217;s fine savings at 10%. And then finally guilt free spending at 10%. Is that number accurate?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;26;34;17 &#8211; 00;26;52;08]: It&#8217;s actually really accurate. I know that you think that that&#8217;s not it&#8217;s like actually really accurate. It&#8217;s actually less than that. It&#8217;s been a lot less than that because we&#8217;ve been saving up a lot of money for legal funds. Okay. Because of our domestic partnership and our, our baby and adopting and stuff like that.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;26;52;09 &#8211; 00;26;56;07]: How much will it cost you for legal?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;26;56;12 &#8211; 00;27;01;05]: 17,000. 17,000? Yeah. And I&#8217;ve paid off 12 of it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;27;01;06 &#8211; 00;27;05;28]: So 17,000 in total to have the baby. Yeah. Is that right?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;27;06;00 &#8211; 00;27;14;19]: And includes estate planning. And, you know, we we&#8217;ve gotten very comprehensive with our paperwork for each other.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;27;14;20 &#8211; 00;27;28;07]: It&#8217;s good to know because, you know, some of this, like in a heterosexual relationship, you would do it. Yeah. Like some legal planning, but some of it not. And I think a lot of people don&#8217;t know what is involved with same sex parents having kids.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;27;28;07 &#8211; 00;27;28;27]: So expensive.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;27;28;28 &#8211; 00;27;31;04]: It&#8217;s a lot really expensive. Yeah, right.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;27;31;10 &#8211; 00;27;45;03]: We did it the cheap way. Yeah, yeah. We have a known donor that is a very nice human being who agreed to help us. Got it. And so we just had to pay the legal fee to do the court documents so that all of us are protected.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;27;45;08 &#8211; 00;27;48;08]: But we had cost tens of thousands, maybe hundreds of thousands.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;27;48;08 &#8211; 00;27;48;19]: Could be.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;27;48;20 &#8211; 00;27;53;09]: Yes. Yeah. So, you know, 17,000 pounds, actually pretty affordable.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;27;53;10 &#8211; 00;27;54;07]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;27;54;09 &#8211; 00;28;15;15]: I don&#8217;t think a lot of people know how much it costs to have a baby if you&#8217;re in a same sex relationship. I have a couple of friends. They had a baby through a surrogate, and it cost them over $250,000. That is shocking. And these are things that if you&#8217;re in a heterosexual relationship, you may never think about.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;28;15;15 &#8211; 00;28;37;13]: But I&#8217;m very, very grateful that on this podcast we get to meet people from all different communities, all different parts of life, all different financial means to show you what it takes in order for them to live their rich life. So I&#8217;m thankful that I get Drew and Nicole here to share some of the numbers, even though they are quite modest in their situation for how much it will cost them to have a baby.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;28;37;16 &#8211; 00;29;06;07]: Can we drill down on the fixed costs? Yeah. All right, so here we are at 77%. I would like to take a look at what these numbers include. Whoa. All right. So your rent slash mortgage, all of it combined is $10,022 per month. So I see two properties here. One for 4000, one for 6000 per month. So right there, that&#8217;s 40.5%.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;29;06;10 &#8211; 00;29;07;23]: Yeah that&#8217;s crazy.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;29;07;24 &#8211; 00;29;11;15]: What do we know about that number? What should that number be. Generally speaking.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;29;11;23 &#8211; 00;29;12;29]: Less than a third.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;29;13;00 &#8211; 00;29;21;21]: Yeah less than a third. We say less than 28. But it can be 3233. And high cost of living areas which both of you live in. But at 40. What do we know?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;29;21;22 &#8211; 00;29;26;01]: It&#8217;s really high. It&#8217;s really high into all of our ability to do anything else.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;29;26;02 &#8211; 00;29;47;11]: Exactly. And in fact, I saw that in your application. You said we cannot eat out. Yeah, because of our housing. Yeah. Now, if you came here and you said, look, we&#8217;ve decided we are not eating out for the next five years because we&#8217;ve made a conscious decision that we want to have these properties for this reason, and we&#8217;ve run these numbers.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;29;47;13 &#8211; 00;29;53;23]: I would say amazing. You&#8217;ve done all the math. You&#8217;ve decided. Is that the case here?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;29;53;25 &#8211; 00;29;59;26]: No. Okay. I don&#8217;t want to just exist in the two houses. Not doing anything.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;29;59;28 &#8211; 00;30;01;26]: Nicely put. Yeah, that&#8217;s.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;30;01;26 &#8211; 00;30;16;13]: I really like how you put that, because that actually describes how so many Americans live. Yeah. Let&#8217;s buy a big old house. And then we got to furnish it, and then we got to maintain it. And then for what? This is the American dream.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;30;16;15 &#8211; 00;30;17;24]: Yes. And then we&#8217;re trapped.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;30;17;25 &#8211; 00;30;24;20]: Then we&#8217;re trapped. Okay. So you do not want that? No. And yet, nevertheless, you are here spending 40.5%.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;30;24;22 &#8211; 00;30;25;12]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;30;25;16 &#8211; 00;30;37;25]: On housing. Okay. Let&#8217;s look at the rest. Utilities, insurance. Car payments at 1125. That&#8217;s two cars. Two cars? Okay. Debt payments at 1071 a month. What&#8217;s that for?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;30;37;26 &#8211; 00;30;41;09]: For my grad school, I. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;30;41;10 &#8211; 00;30;42;26]: How much is your grad school debt?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;30;42;27 &#8211; 00;30;45;17]: Oh, the debt I have right now is is 15 K.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;30;45;20 &#8211; 00;30;51;18]: And you&#8217;re paying $1,000 a month for that? Yes. Is that all you&#8217;re going to incur for grad school? No. How much is going to be.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;30;51;24 &#8211; 00;31;01;09]: I&#8217;m about to have another ten, like 10,200 to to graduate. That&#8217;s what I&#8217;m going to need to pay by the end of May.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;31;01;11 &#8211; 00;31;03;19]: So 15 K plus 10-K. Yes. 25.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;31;03;20 &#8211; 00;31;04;12]: K 25.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;31;04;13 &#8211; 00;31;05;22]: Okay. Where&#8217;s that money going to come.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;31;05;22 &#8211; 00;31;07;06]: From I don&#8217;t know.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;31;07;08 &#8211; 00;31;08;26]: Are just.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;31;08;27 &#8211; 00;31;10;05]: I don&#8217;t know okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;31;10;07 &#8211; 00;31;14;22]: Yeah that&#8217;s a question we actually have that we need to figure out.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;31;14;25 &#8211; 00;31;35;17]: Okay. We&#8217;ll see what we can. Okay. I love this combination here. I never I don&#8217;t mind people like tweaking the labels once in a while. That&#8217;s fine. But this one is great. Clothes slash home slash home repair and renovation. Seems like it would all be in the same aisle. Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;31;35;18 &#8211; 00;31;39;06]: It&#8217;s overalls and boots to do the their home repairs.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;31;39;07 &#8211; 00;31;42;20]: And it&#8217;s $1,400 per month.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;31;42;21 &#8211; 00;32;07;27]: Yeah, it was really, really high this last year because Drew&#8217;s house had a massive flooding incident happen, and the kitchen was built in probably the 70s and hadn&#8217;t been renovated ever. Yeah. And so it was like, well, if we have to rip out all of the flooring, we&#8217;re going to have to rip out the cabinets. We might as well replace the cabinets because it&#8217;s they.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;32;07;27 &#8211; 00;32;08;22]: Were water damage.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;32;08;24 &#8211; 00;32;10;01]: How much did it cost? Drew.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;32;10;06 &#8211; 00;32;11;01]: Ten.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;32;11;07 &#8211; 00;32;11;14]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;32;11;15 &#8211; 00;32;13;06]: Ten is I think what we. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;32;13;07 &#8211; 00;32;36;22]: Now let me ask you a question because I learned this on Twitter. People on Twitter told me that the landlord can simply pass on their costs to the tenants, and tenants are paying taxes. They&#8217;re paying their landlord&#8217;s mortgage, all maintenance. Now, were you able to just pass on those expenses to tenants?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;32;36;23 &#8211; 00;32;37;23]: I sure wasn&#8217;t.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;32;37;24 &#8211; 00;32;52;10]: Wow. You&#8217;re telling me people online don&#8217;t know what they&#8217;re talking about? So shocking. So you basically ate the costs. The money had to come from somewhere. Yes. And you can try to raise rent, but you charge based on what?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;32;52;11 &#8211; 00;32;52;25]: Good value.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;32;52;26 &#8211; 00;32;53;25]: What the market will bear.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;32;53;26 &#8211; 00;33;04;10]: And we actually can&#8217;t raise rent in Maui right now. Why is that? The Lahaina fires, they put in an emergency proclamation that you can&#8217;t. Still, it&#8217;s still active. Yeah. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;33;04;12 &#8211; 00;33;05;06]: Okay. Wow.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;33;05;10 &#8211; 00;33;15;03]: Yeah. It&#8217;s actually there&#8217;s a lot of housing related things, and it&#8217;s good because it does need to realize. Yeah, we wouldn&#8217;t raise the rent anyways.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;33;15;10 &#8211; 00;33;24;15]: But we what we did is like hired contractors at the lowest cost we could. And then we did a lot of the work ourselves. We laid the whole flooring ourselves.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;33;24;16 &#8211; 00;33;30;14]: Got it. Yeah. We did a lot of our own work. That&#8217;s cool. We became knowledgeable pretty fast.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;33;30;15 &#8211; 00;33;39;19]: All right, let&#8217;s look at the rest of it. Here we have. Subscriptions are fine. And then miscellaneous we have 15%. Did you adjust this?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;33;39;21 &#8211; 00;33;40;25]: We adjusted it down.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;33;40;27 &#8211; 00;34;00;06]: Yeah. Because you know your numbers. Yeah, fine, I believe it. All right. So we&#8217;re at a total of about 17,000 a month, which, you know, is high. Yeah. Is it high? I don&#8217;t know if you made $10 million a month, then. No it&#8217;s not. That&#8217;s relative, but it&#8217;s all relative. And so what we see is 77%. Yeah. That part is high.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;34;00;08 &#8211; 00;34;01;09]: Yeah. Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;34;01;10 &#8211; 00;34;11;06]: I mean, I guess I want to point out that starting next year, I will be able to be making more money. Like, I just haven&#8217;t been so far.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;34;11;08 &#8211; 00;34;15;10]: You currently make $10,450 a month.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;34;15;11 &#8211; 00;34;15;27]: Yes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;34;15;29 &#8211; 00;34;17;06]: That&#8217;s a pretty good salary.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;34;17;07 &#8211; 00;34;20;00]: Well, still struggling.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;34;20;07 &#8211; 00;34;29;01]: You say? Maybe, maybe, maybe making more will positively affect the CSP. I think that&#8217;s true. Yes it will. Yes. How much are you going to make just so we can take a look?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;34;29;02 &#8211; 00;34;38;22]: Well, if I go into a private practice, I can make whatever I need to make within the confines of, like, I can make whatever I need to make.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;34;38;23 &#8211; 00;34;42;12]: No, no. You can&#8217;t. I mean, okay. Make $1 million a month. Can you do it?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;34;42;13 &#8211; 00;34;49;00]: No, I don&#8217;t need $1 million. What? I need to have that in 77%. Be what, 50? What would.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;34;49;00 &#8211; 00;34;51;10]: Be to 60%? Okay. How much do you need?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;34;51;16 &#8211; 00;34;54;06]: Oh, like another 12.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;34;54;08 &#8211; 00;34;55;24]: What you need per month.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;34;55;25 &#8211; 00;34;59;07]: Hold on. Go ahead. Drew, I like hearing you talk me through this.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;34;59;08 &#8211; 00;35;01;20]: Okay, I think I might need another 12 k.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;35;01;21 &#8211; 00;35;20;10]: Another 12 k on top of this. Let&#8217;s try that. So let me just I&#8217;m just going to since you make actually now that we&#8217;re looking into this I&#8217;m like wait a second. Wait do you pay any taxes. Yeah. Where&#8217;s the taxes on this. So here&#8217;s your gross, which is like what you get paid and your net is the same as your.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;35;20;11 &#8211; 00;35;32;06]: $330 in taxes, apparently. No, I do pay taxes. I pay for point 5% on my local taxes. And then I don&#8217;t know what the government, the big government.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;35;32;07 &#8211; 00;35;36;08]: But like, why is this number so high? Like what&#8217;s happening here?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;35;36;08 &#8211; 00;35;39;05]: I don&#8217;t know, Nicole didn&#8217;t fix that number for me.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;35;39;07 &#8211; 00;35;43;28]: Let&#8217;s just fix it right now. Nicole, what is the correct number here? Do you know.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;35;44;00 &#8211; 00;35;47;26]: My estimate would be.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;35;47;28 &#8211; 00;35;50;04]: Like 8000.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;35;50;06 &#8211; 00;35;59;04]: Maybe 8000. Let&#8217;s say that it could be 7000. 800. Whatever. 8000. Okay, I want you to watch what happens to the fixed cost number. Ready?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;35;59;07 &#8211; 00;36;01;19]: Oh. No.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;36;01;20 &#8211; 00;36;02;04]: That&#8217;s.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;36;02;04 &#8211; 00;36;04;04]: So. Maybe that&#8217;s why I kept it at ten.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;36;04;05 &#8211; 00;36;22;24]: Thousand for everyone listening and not watching. First of all, get on YouTube. Second of all, that fixed cost number jumped from 77% to 85%. Yeah. Now we have a more accurate representation. So it&#8217;s high. It&#8217;s really high. You are essentially spending more than you make.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;36;22;25 &#8211; 00;36;23;25]: Oh yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;36;23;28 &#8211; 00;36;24;08]: Yes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;36;24;10 &#8211; 00;36;46;00]: It&#8217;s tough. Every month I&#8217;ve since the chill come over the room now. But I would rather have the honest truth here. Yeah. Oh, the numbers in the CSP are not right. I&#8217;m shocked, but actually, I don&#8217;t mind. I still see comments over and over saying why doesn&#8217;t remits team prescreened them and work with them to get their CSP?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;36;46;01 &#8211; 00;37;06;12]: Because I don&#8217;t want that. It&#8217;s hard to get your numbers in a correct form. I want to see how you do it, because then I can work with you and help you untangle your assumptions. I want to help you understand where you might have taken a wrong turn. Now, there are some clear changes that I see in the CSP, but I&#8217;m not going to sit here and lecture them about all the things they should do.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;37;06;13 &#8211; 00;37;28;21]: I need them to understand first how risky of a situation they are in. If it was just the two of them working stable jobs, making $296,000, they would be at incredible risk. But guess what? One of them is an entrepreneur. That&#8217;s risky. Oh, and they&#8217;re about to have a baby. That&#8217;s risky. They are compounding risk on top of risk.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;37;28;21 &#8211; 00;37;36;07]: And I want to show them how precarious of a situation they&#8217;re putting themselves in.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;37;36;09 &#8211; 00;37;46;25]: So you mentioned that you need to make. Why don&#8217;t we just double what you make and let&#8217;s just see what happens? Sure. Okay. 16,000. And that number drops to.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;37;46;26 &#8211; 00;37;47;25]: 61%.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;37;47;25 &#8211; 00;37;59;27]: 61%. So you are correct. If you doubled your income tomorrow, you&#8217;re in a healthy financial position and you&#8217;d be able to do quite a bit. What do you think about that?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;37;59;28 &#8211; 00;38;13;16]: I think honestly, I think it&#8217;s doable. Like as soon as I graduate, I really do feel like I could make that amount and it would just feel like so much relief. I think we could keep the two houses great.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;38;13;16 &#8211; 00;38;28;09]: So that is an option. So let&#8217;s put a pin in that, because at least according to the numbers, that part would work. Yeah. Well it would work if nothing were about to change in two weeks. Yeah. Is there something happening in two weeks?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;38;28;16 &#8211; 00;38;30;18]: I don&#8217;t know. Maybe a baby.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;38;30;19 &#8211; 00;38;34;07]: So, like, where does the baby fit in? Financially speaking.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;38;34;09 &#8211; 00;38;34;17]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;38;34;18 &#8211; 00;38;34;25]: Wow.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;38;34;27 &#8211; 00;38;37;25]: Yeah. Have we. Have we modeled any of that.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;38;38;02 &#8211; 00;39;01;10]: A little bit? What&#8217;s really great is because we will be spending the first year and a half or so of this child&#8217;s life in Maui. There&#8217;s a really good community that&#8217;s set up there with really great community resources. So our grocery costs are actually going to go down quite a bit. Okay. We&#8217;ll have access to community support that will help with kind of like childcare and things like that.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;39;01;10 &#8211; 00;39;13;07]: So we&#8217;re not going to have to pay for child care as long as actually in either community. We&#8217;ve been really intentional, like the community here in Southern California. I have my parents that live ten minutes away. Great. And so.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;39;13;08 &#8211; 00;39;19;02]: So you&#8217;ll be able to have childcare, let&#8217;s say, at low cost, no cost. What are we talking about.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;39;19;03 &#8211; 00;39;20;19]: For low cost?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;39;20;20 &#8211; 00;39;22;16]: Yeah, I would say low cost.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;39;22;19 &#8211; 00;39;25;23]: Like an occasional babysitter is the only thing I think we might do.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;39;25;25 &#8211; 00;39;26;08]: Exactly.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;39;26;09 &#8211; 00;39;28;13]: So that&#8217;s like, how many times a week?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;39;28;15 &#8211; 00;39;29;18]: Not even once a week.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;39;29;22 &#8211; 00;39;30;08]: Not even once.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;39;30;08 &#8211; 00;39;31;05]: A month, a week.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;39;31;12 &#8211; 00;39;41;06]: What is that going to be, like, 200 bucks? 200 bucks? Yeah. Yeah. Okay. That&#8217;s quite nominal. Yeah. And diapers, food, that kind of stuff. What are we talking about?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;39;41;07 &#8211; 00;39;43;29]: So food in Maui will be free.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;39;44;01 &#8211; 00;39;45;29]: What? Why? This is like.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;39;46;01 &#8211; 00;39;47;11]: Paradise Collective.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;39;47;12 &#8211; 00;39;48;13]: Yeah. So there&#8217;s.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;39;48;13 &#8211; 00;39;54;25]: An amazing birth collective out there that offers new parents and expecting parents resources.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;39;54;26 &#8211; 00;39;55;13]: No kidding.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;39;55;14 &#8211; 00;39;55;24]: Yeah. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;39;55;24 &#8211; 00;39;57;03]: It&#8217;s really funded.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;39;57;04 &#8211; 00;40;00;26]: It&#8217;s a government funded thing. I think I don&#8217;t think it. Government grants.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;40;00;26 &#8211; 00;40;18;13]: There&#8217;s definitely grants. I&#8217;m not sure if they&#8217;re government grants, but they&#8217;re grants and they offer it to any expecting or recent parents. No kidding. And it&#8217;s a whole like you get a whole bag of groceries every week. You get access to free education classes. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;40;18;16 &#8211; 00;40;19;09]: Free massages.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;40;19;10 &#8211; 00;40;21;00]: What is it for moms? Just so everybody knows.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;40;21;01 &#8211; 00;40;22;14]: Pacific birth collective.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;40;22;16 &#8211; 00;40;23;02]: That&#8217;s so cool.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;40;23;02 &#8211; 00;40;23;25]: It&#8217;s so cool.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;40;23;26 &#8211; 00;40;46;26]: You know, like, the fact that I am, like, shocked. And and we live in the wealthiest country in the world really speaks to the fact of how misaligned we are. Yeah. The fact that, like, oh, two new parents getting groceries once a week, I&#8217;m like, what? But like, isn&#8217;t that something that we would be able to do or we should be able to do more broadly?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;40;46;27 &#8211; 00;40;52;14]: It&#8217;s amazing. It&#8217;s sad, actually, that we don&#8217;t have access to it here in Southern California.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;40;52;15 &#8211; 00;40;55;06]: Because I&#8217;ve never heard of anything like it, honestly. Yeah, that&#8217;s really cool.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;40;55;06 &#8211; 00;40;59;04]: And it&#8217;s not just like a bag of whatever&#8217;s left over from the grocery store.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;40;59;05 &#8211; 00;40;59;28]: It&#8217;s really nice.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;41;00;07 &#8211; 00;41;18;23]: Really nice food. It&#8217;s all like, for the most part, locally grown. And they give you staples as well, so you can have a stock of rice and beans and canned goods and fresh vegetables, and they give you eggs and chicken. And it&#8217;s really an amazing resource.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;41;18;26 &#8211; 00;41;26;00]: It sounds like your fixed costs with baby are not going to change dramatically. Would that be fair to say?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;41;26;03 &#8211; 00;41;34;01]: Yeah I don&#8217;t. I mean, barring any like medical stuff that the baby could have, that would be the only thing that could come up.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;41;34;06 &#8211; 00;41;36;09]: Well, both of you continue working full time.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;41;36;11 &#8211; 00;41;37;29]: Yes, yes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;41;38;00 &#8211; 00;41;40;11]: I mean, Nicole&#8217;s on sabbatical.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;41;40;12 &#8211; 00;42;05;23]: Yeah. So I&#8217;m lucky I. The timing was. I don&#8217;t know if it&#8217;s miraculous, whatever it is, but I was able to be on sabbatical for the next year. So after I give birth, I&#8217;ll have until the semester starts, and then I&#8217;ll have our regular unpaid leave. But I have enough sick time to take off 12 weeks. Right. And so I&#8217;ll take off the 12 weeks and I&#8217;ll start sabbatical.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;42;05;27 &#8211; 00;42;06;08]: And I&#8217;ll.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;42;06;08 &#8211; 00;42;08;20]: Have paid sabbatical. It&#8217;s paid out.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;42;08;23 &#8211; 00;42;18;02]: So I&#8217;ll get my full, regular pay for a full year to go do research, which I can do from home. Great. And I&#8217;m really excited about that.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;42;18;03 &#8211; 00;42;25;11]: And then my income will stay the same. Yeah. Minus wherever that 10-K is going to come from to finish the school.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;42;25;12 &#8211; 00;42;41;04]: Got it. Yeah. And now going back to your income potentially increasing because it seems much more feasible now that I know we&#8217;ve talked about childcare and things like that. Doubling your income. Like you already make $10,000 a month. Yeah. So is doubling your income realistic?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;42;41;06 &#8211; 00;43;00;04]: Yeah. Because if I&#8217;m working as a therapist in addition to being a coach, then I will be able to just see more clients and. Yeah, and I&#8217;m going to be doing my own private practice, most likely. So I get to charge what I need to charge.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;43;00;05 &#8211; 00;43;10;08]: Got it. Yeah. And you&#8217;re comfortable with that because earlier you mentioned, you know, not raising rent even if you could etc., etc.. Are you comfortable charging market rates or even higher than market rates?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;43;10;09 &#8211; 00;43;35;00]: I am I my vision for my work and what it has been for coaching is that I offer like high ticket prices. But then there&#8217;s an there&#8217;s an expectation or knowing that those people are paying for lower income people who can&#8217;t afford care. So I will have a sliding scale essentially, where I will be able to do sessions for therapy for 30 bucks, 60 bucks, like a handful.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;43;35;08 &#8211; 00;43;37;22]: And then there will be people covering that who have the funds.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;43;37;23 &#8211; 00;43;38;07]: Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;43;38;09 &#8211; 00;43;41;07]: So morally, ethically I think yes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;43;41;09 &#8211; 00;44;11;11]: Good. Good answers. All right. My assessment on this is you have a high income $300,000 of high income and potentially going up considerably. So that&#8217;s great. You also have you&#8217;re in the enviable position of having a baby with very low increasing expenses like this is highly atypical. Amazing. And what I always tell people is there&#8217;s this golden period.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;44;11;12 &#8211; 00;44;31;08]: Seize it. Enjoy it, take some of the money, put it towards investments. Take some of the money, save it, take some of the money. Go out and eat. In a way, I&#8217;ve never had a golden period with a baby because baby costs always increased dramatically. But in your case, amazing. You&#8217;re both going to continue working. You both have child care, you both have food provide.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;44;31;09 &#8211; 00;44;50;06]: It&#8217;s like okay, amazing. So what do we want to do? I do agree that your investments are low. We can look at what it&#8217;s going to turn into in the future. Savings are okay. We can talk about what that means. You know, you currently have few months of emergency fund, right? I think with the baby, you.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;44;50;06 &#8211; 00;44;51;07]: Want it to be more.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;44;51;09 &#8211; 00;44;51;20]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;44;51;22 &#8211; 00;44;55;14]: Yeah, especially in this economy. I&#8217;d like it to be 12 months.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;44;55;14 &#8211; 00;45;19;23]: Exactly. We want to become a little bit more financially conservative when there are kids in the picture. So for sure. Yes. Good instinct. And then, you know. Well, what we see now is your guilt free spending is down to 1% or $273, which we know cannot be right, which is why we have a problem. You&#8217;re drawing. So we have a problem right now, but a potentially bright future.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;45;19;25 &#8211; 00;45;22;01]: How do we get from here to there? Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;45;22;04 &#8211; 00;45;53;23]: I feel like taking this opportunity and like having unfortunately, having felt really squeezed and really stressed did prompt me to want to do so much better and to know the things and to prepare. So I think that having the goal set up for what&#8217;s happening and where we&#8217;re going to be putting money and what we&#8217;re going to be doing, especially when I can start making more income and then sticking to it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;45;53;23 &#8211; 00;46;02;10]: And unfortunately, I think we have to keep living really low this next year, like keep our spending super low.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;46;02;13 &#8211; 00;46;02;25]: Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;46;02;26 &#8211; 00;46;30;29]: I think that realistically, what I&#8217;m seeing is that we&#8217;re probably going to have to draw down some on the savings if we want to not be miserable all the time. And I don&#8217;t think we want to be miserable all the time. And to be honest, that&#8217;s a little scary to me to know that we&#8217;re going to be going in reverse where I&#8217;d like I&#8217;d like to be increasing our savings amounts.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;46;31;03 &#8211; 00;46;43;25]: And I don&#8217;t know if it&#8217;s possible for us to increase our savings amount, because the biggest place to cut from is a place we either have to sell our house or not. I just don&#8217;t know where else to cut from, to be honest.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;46;43;26 &#8211; 00;46;53;09]: So like, do we? Yeah. For the next year, do we just not cut and do we just. I never even thought about drawing from savings even more.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;46;53;11 &#8211; 00;46;53;20]: Well.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;46;53;21 &#8211; 00;46;54;29]: That feels so scary.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;46;55;00 &#8211; 00;46;55;28]: That&#8217;s what you&#8217;ve been doing.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;46;55;28 &#8211; 00;46;56;27]: It&#8217;s exactly what we&#8217;ve.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;46;56;27 &#8211; 00;47;00;05]: Been doing. You&#8217;ve already been doing. You just didn&#8217;t acknowledge.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;47;00;06 &#8211; 00;47;01;18]: Just wasn&#8217;t paying attention to it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;47;01;19 &#8211; 00;47;14;29]: Yeah. Let&#8217;s explore what the options might be. Yeah. But first I kind of want to understand what got you here. Nicole, what do you remember your family saying about money when you were young?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;47;15;02 &#8211; 00;47;33;22]: So we didn&#8217;t really talk about it a lot out loud. My upbringing was primarily by my dad&#8217;s side of the family whose Chinese. And so we don&#8217;t really talk a lot about the details of anything. In fact being here is kind of terrifying.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;47;33;24 &#8211; 00;47;37;00]: You don&#8217;t talk about like what numbers, feelings?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;47;37;00 &#8211; 00;47;56;04]: What numbers or feelings or anything. And if you ask for help, it should only be like within family. Like even then. Like why? Why are you needing help? Are. It&#8217;s okay. Yeah. It&#8217;s pretty daunting being here. It&#8217;s exciting.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;47;56;05 &#8211; 00;48;01;00]: As well. You&#8217;re doing great. And I think it&#8217;s a very courageous to ask for help.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;48;01;01 &#8211; 00;48;12;06]: Yeah I agree. I mean, as a teacher, I want my students to ask for help. Yes. So I get the philosophy. And doing it yourself is always a little a little scary.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;48;12;07 &#8211; 00;48;18;15]: For sure. Did he teach you about savings, investments?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;48;18;17 &#8211; 00;48;40;19]: Saving to some extent. So when I was in high school, he actually. And this. I&#8217;m so thankful for this. He had me open up a credit card when I could so I could establish credit. And he told me, you have to put something on it every month, and then you just pay it off and every month you can put something on it, but you have to not ever put more on it than you have to pay it off.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;48;40;23 &#8211; 00;48;44;20]: It&#8217;s good lesson. Yeah. Okay. And have you ever gone into credit card debt?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;48;44;21 &#8211; 00;48;48;19]: I have actually. So.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;48;48;21 &#8211; 00;49;19;03]: When I was teaching adjunct and I was in grad school, I was teaching at like five different places. Basically, you have to an adjunct professor makes a lot less money than a full time professor. And so I was all over the place, and I knew that if I ever wanted to be able to teach full time, I was going to have to make some sacrifices so that my resume is the best, because there are so many people that are wanting full time academic jobs.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;49;19;08 &#8211; 00;49;41;06]: And so I was going to have to do unpaid labor, basically, so that I could make myself be a good candidate. And that&#8217;s what I did. So for a year, I cut the number of jobs that I worked, and I did unpaid labor at school, join university service, I served on academic Senate and things like that did work for my department.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;49;41;07 &#8211; 00;50;02;21]: Things that look really, really good on a resume and you can talk about, but they don&#8217;t pay you. Yeah. You know, and so I knew at that time and it was such a privilege that I was going to go into debt. And I didn&#8217;t want to ask my dad for help. So I took on credit card debt, and I said, I&#8217;m going to get a full time job this year.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;50;02;22 &#8211; 00;50;05;13]: Could your dad have afforded to help you?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;50;05;15 &#8211; 00;50;07;13]: Probably. Okay. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;50;07;14 &#8211; 00;50;09;04]: Did you grow up middle class?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;50;09;04 &#8211; 00;50;10;25]: Wealthy middle class?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;50;10;27 &#8211; 00;50;14;17]: Yeah. What about your mom? What&#8217;s her role with money?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;50;14;20 &#8211; 00;50;42;02]: Well. Not much. My mom. She was diagnosed with cancer when I was four. And so for the next five years, she battled cancer. And she didn&#8217;t do much work. But we spent a lot of time making memories. Yeah. And so, yeah, I think what I learned was, like, memories are important. Experiences are important. Yeah. More than anything.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;50;42;04 &#8211; 00;51;04;18]: Nicole didn&#8217;t mention this explicitly, but her mom passed away when she was nine years old. And you can imagine what kind of effect that has on a child, especially as it relates to money. It&#8217;s no surprise that some people who lose a parent become even more concerned with safety and security. And I think that is part of what we see here with Nicole.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;51;04;20 &#8211; 00;51;25;12]: She likes to plan. She wants to make sure that under all scenarios, she is okay. And I think that&#8217;s fine. I think safety and security are a good thing with money. We have to take this need. In light of her relationship with drew, I don&#8217;t think drew particularly feels the need for safety and security with money. I think she likes it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;51;25;13 &#8211; 00;51;39;17]: I think she wants to spend it on the things that are important to her. But how do we create a way for them to have a compatible view of money together? Drew, what about you? What do you remember your family saying about money when you were young?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;51;39;24 &#8211; 00;52;07;14]: So I don&#8217;t remember anything being said. Well, my parents both came out of poverty, were from the south, Alabama and Louisiana, and came out of a lot of poverty and a lot of trauma, and they really made a life for themselves. And it&#8217;s really beautiful. They I saw for them that money gave them experiences. And we went out to eat at restaurants like three days a week.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;52;07;17 &#8211; 00;52;08;01]: Wow.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;52;08;05 &#8211; 00;52;34;07]: You know, like, they they really wanted to live it up. And it was really. Yeah. It&#8217;s really beautiful to look back on that now. So I remember when I was a teenager, my parents bought my both my grandma&#8217;s tickets to Hawaii to go on a trip with us, and we spent like a couple of weeks on all the different islands with my two grandmas.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;52;34;10 &#8211; 00;52;43;18]: So there was this like giving, giving to family kind of idea and concept and like just fun. Just embracing life and really living life.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;52;43;19 &#8211; 00;52;48;18]: How did your parents go from being in poverty to being able to eat out three times a week?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;52;48;19 &#8211; 00;52;57;11]: They&#8217;re both really smart. Not that it has to do with being smart necessarily, and they just they worked hard. They really did just work hard.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;52;57;11 &#8211; 00;52;59;23]: And did you say you grew up in. Was it Taiwan?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;52;59;25 &#8211; 00;53;14;14]: I grew up in Texas for ten years, and then I was in the Marshall Islands until I was 17. And then for college, I went to college in Alabama, where my mom all lives.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;53;14;16 &#8211; 00;53;14;23]: Oh, I.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;53;14;24 &#8211; 00;53;23;11]: Got it so kind of all over. Wow. And that was part of their, their life. They were like, yeah, we can go live in the Marshall Islands. Let&#8217;s go. Let&#8217;s let&#8217;s live it up.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;53;23;14 &#8211; 00;53;29;16]: What messages about money do you think you took away from your upbringing?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;53;29;19 &#8211; 00;53;46;14]: One that I really had to work through early on when I started working, was that you have to work hard to make money. That one. I saw my dad go through that and work his whole life. And to be able to retire. And now.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;53;46;17 &#8211; 00;54;18;09]: To not be in the best shape, to do the things that he wants in retirement. And then the other one was that, unfortunately, money can be used as a tool for manipulation. So there&#8217;s a lot of like money can cause a lot of pain actually. And thirdly, to share money and just really like live it up as much as you can and enjoy life with the money that you do have.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;54;18;11 &#8211; 00;54;24;10]: The second point you made about money can be a tool of manipulation. Was that something you experienced?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;54;24;10 &#8211; 00;54;28;25]: I watched it in my family.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;54;28;27 &#8211; 00;54;30;28]: Yeah. Would you learn from that?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;54;31;01 &#8211; 00;55;02;27]: I learned a lot about what it means to be a woman and how women couldn&#8217;t have, you know, bank accounts of their own until the 70s and how, you know, a lot of women have been stuck in situations that they shouldn&#8217;t have had to have been in because there was no financial freedom. And how that&#8217;s still to this day, kind of carries on with some boomers and and other people.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;55;02;28 &#8211; 00;55;17;12]: Yes. You mentioned live it up money. You know, we&#8217;ve got to use it. I didn&#8217;t hear any money messages about saving for investing. Were those that messages you grew up with or. No.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;55;17;13 &#8211; 00;55;41;10]: I did actually. You know, I did have some messages growing up around. I remember when I started university, my dad told me, never take out a loan. Do whatever you can to not take out a student loan. He taught me. Let&#8217;s see, when I bought my first car, he. He said, never buy a car new, okay? Always buy a used car.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;55;41;14 &#8211; 00;55;45;06]: They will depreciate heavily when you drive them off the lot.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;55;45;09 &#8211; 00;55;47;26]: You have a used car or you have a new car.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;55;47;27 &#8211; 00;55;49;14]: No, I have a I bought my car. New.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;55;49;15 &#8211; 00;55;55;04]: You have a new car and you have a student loan. Okay. Zero for two so far. What else?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;55;55;06 &#8211; 00;56;10;14]: Sorry, dad. Actually, I vaguely remember this. I think he offered myself and my siblings at some point a sum of money, like 150 bucks or something. If we would read. I think it was a Dave Ramsey book.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;56;10;16 &#8211; 00;56;12;18]: All right. And did you wait?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;56;12;20 &#8211; 00;56;14;02]: Warren Buffett&#8217;s the good one, right?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;56;14;03 &#8211; 00;56;14;27]: Yes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;56;14;29 &#8211; 00;56;16;20]: Maybe it was Warren Buffett.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;56;16;25 &#8211; 00;56;20;07]: That&#8217;s actually pretty. That pretty much encompasses. He&#8217;s a good one.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;56;20;10 &#8211; 00;56;25;28]: He has a good one, right? He&#8217;s like a family man. He lives, like, below his means or something. Goes to show you. I probably didn&#8217;t read.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;56;25;28 &#8211; 00;56;32;25]: The book. Yeah. I mean, okay, so the big takeaway is he offered us money and we still didn&#8217;t do it. All right. Got it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;56;32;27 &#8211; 00;56;36;09]: Which is funny because you love reading. You will read almost anything.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;56;36;09 &#8211; 00;56;40;27]: And I&#8217;ll listen to this financial like my book. Yes. You have. I have.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;56;41;01 &#8211; 00;56;43;13]: We read it together. Wow. That was like one of.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;56;43;13 &#8211; 00;56;48;11]: Our the only guests on this podcast you have ever read my book. This is like, let me just soak it in for a second.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;56;48;13 &#8211; 00;56;50;06]: It&#8217;s really good to get a gold star.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;56;50;08 &#8211; 00;56;59;27]: Yeah. What money messages do you both find that you grew up with that you are now bringing to this relationship?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;56;59;28 &#8211; 00;57;08;03]: I think the biggest one is that while money is useful, it&#8217;s also really scary.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;57;08;06 &#8211; 00;57;10;08]: And how does that show up here?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;57;10;10 &#8211; 00;57;25;13]: I&#8217;m anxious. I&#8217;m so anxious about having enough savings and retirement and the economy and not knowing where to put things, and like what happens if the AI bubble bursts and all of a sudden everything&#8217;s gone, you know.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;57;25;16 &#8211; 00;57;27;15]: You normally anxious in other parts of life?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;57;27;18 &#8211; 00;57;29;29]: Yeah. I&#8217;m a more anxious person.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;57;30;00 &#8211; 00;57;33;16]: Got it. Okay. That&#8217;s helpful to know. Drew, what about you?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;57;33;20 &#8211; 00;57;54;03]: There&#8217;s something about, like philippensis in a way. Not that I would say. I&#8217;ve. I see my family like that, necessarily, but that seems to be what I&#8217;ve internalized. Like, I&#8217;m not taking it too seriously. Wasn&#8217;t really focused on it. I kind of always was like, it&#8217;ll work out.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;57;54;05 &#8211; 00;57;57;14]: Yeah, it&#8217;ll work out. I can approximate it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;57;57;15 &#8211; 00;58;01;02]: I can approximate it. Yeah. It doesn&#8217;t. The actual number doesn&#8217;t really matter.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;58;01;02 &#8211; 00;58;02;28]: It&#8217;s your religious.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;58;03;00 &#8211; 00;58;06;19]: Sort of, but not really. But yes, for sure. What religious.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;58;06;20 &#8211; 00;58;11;08]: Hold on. It&#8217;s. That was a very interesting answer. What is that?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;58;11;09 &#8211; 00;58;14;24]: Well, my dad was excommunicated from the church when I was five.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;58;14;25 &#8211; 00;58;15;03]: Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;58;15;04 &#8211; 00;58;16;28]: So it was all around.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;58;16;28 &#8211; 00;58;18;20]: Me, even though he was excommunicated.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;58;18;20 &#8211; 00;58;23;05]: Exactly. And then all my grandparents still went, and they were highly religious. And so, yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;58;23;07 &#8211; 00;58;33;04]: The reason I asked is when you say, you know, a bit flippant, one thing about people who grow up religious, they often say, God will provide and they.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;58;33;04 &#8211; 00;58;33;13]: May know.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;58;33;15 &#8211; 00;58;35;22]: Yeah. Oh. Familiar phrase.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;58;35;23 &#8211; 00;58;36;10]: Oh, yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;58;36;11 &#8211; 00;58;48;00]: Okay. Implication being, we don&#8217;t need to pay particular attention. We&#8217;re doing the right thing. We&#8217;re good people. We&#8217;re faithful. God will provide.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;58;48;01 &#8211; 00;59;09;17]: Yeah, definitely not relating to the God part, but and I do I do feel like I have a lot of privilege in the world. And that privilege also will provide sometimes, you know, it&#8217;s like I, I feel that I&#8217;ve seen it to be true. So not just God, but privilege.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;59;09;18 &#8211; 00;59;10;13]: Got it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;59;10;15 &#8211; 00;59;19;18]: Yeah. I&#8217;ve heard you say literally that you just trust that it&#8217;ll work out. You trust that it will happen, that somehow the money will come.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;59;19;19 &#8211; 00;59;21;19]: It&#8217;s the secular version of God will provide.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;59;21;20 &#8211; 00;59;26;13]: It is. Or it could be like the hippie like granola. The woo version.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;59;26;14 &#8211; 00;59;27;10]: Life will provide.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [00;59;27;10 &#8211; 00;59;28;08]: The universal.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;59;28;09 &#8211; 00;59;46;25]: The universal purpose. Yes. Okay. Wow. I think you both really nailed it with the messages you bring. And when you hear each other describe those messages. Does it make sense? Some of the things we see on the CSP, some of the things that you disagree about and are worried about.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [00;59;46;26 &#8211; 00;59;47;22]: Totally.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [00;59;47;23 &#8211; 01;00;21;25]: Yeah. Perfect sense. I actually love it. Yeah. It&#8217;s interesting to hear Drew&#8217;s upbringing living in multiple countries, very ambiguous relationship with money, and I think that can be really positive. It allows you to deal with ambiguity. Well, probably make friends really easily, but it can also make you chafe at the idea of structure. But if you want to live a life where you respect money, where you&#8217;re not just subsisting, but you&#8217;re actually thriving, giving yourself lots of opportunity, plans are actually a good thing.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;00;21;27 &#8211; 01;00;28;17]: They can be fun. That&#8217;s what I&#8217;m hoping to show them today.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;00;28;19 &#8211; 01;00;36;14]: In the application you mentioned, you know, hey, we we struggle to go out to eat things like that. What happened?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;00;36;17 &#8211; 01;00;38;15]: Drew went to school.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;00;38;18 &#8211; 01;00;39;04]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;00;39;04 &#8211; 01;00;40;14]: And then things happened.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;00;40;14 &#8211; 01;00;54;09]: And then the flood happened, and it. Yeah, it just all. There was a tipping point and. Oh, and there were emergencies that happened basically, like there was a plumbing issue at the house that we had just bought in Southern California.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;00;54;14 &#8211; 01;00;55;02]: Oh, yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;00;55;06 &#8211; 01;00;56;23]: Which was like 35.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;00;56;24 &#8211; 01;00;57;29]: No, it was 29, but.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;00;58;06 &#8211; 01;00;59;18]: 29,000.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;00;59;19 &#8211; 01;01;13;05]: Yeah. I had to replace the sewer. Wow. All the way into the street. It was a disaster. If you are buying a house, make sure that you get a full inspection. And if they don&#8217;t get the sewer scope through all the way, do not go forward with this house.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;01;13;07 &#8211; 01;01;33;11]: I don&#8217;t even know what any of those words mean, but. Yeah. Yes. Get your sewer scopes checked. America. Yes. Okay, good. Good lesson. Okay, so. So several maintenance items came up that were unexpected. Yes. You went back to school. Which? Which implies what? You. It&#8217;s costing more money.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;01;33;13 &#8211; 01;01;34;18]: Yeah, it&#8217;s.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;01;34;19 &#8211; 01;01;36;12]: But your finances are separate. Correct?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;01;36;13 &#8211; 01;01;56;21]: Our finances at this point are like kind of separate. But we help each other whenever we need, like we share an emergency fund and things like that. In terms of legally were each other&#8217;s. We have power of attorney. So our names may not be on each other&#8217;s bank accounts, but we can do whatever we want with each other&#8217;s bank accounts.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;01;56;22 &#8211; 01;01;57;03]: Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;01;57;06 &#8211; 01;01;59;28]: Yeah. So you are legally. Yes. Combined.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;01;59;28 &#8211; 01;02;00;19]: Combined? Yes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;02;00;20 &#8211; 01;02;01;20]: Yeah. Got it. Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;02;01;22 &#8211; 01;02;21;08]: But I think what&#8217;s been happening is my expenses through school. And then the Maui house. I went through my emergency fund because of the things that came up. And then, you know, Nicole was essentially covering that from her side.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;02;21;09 &#8211; 01;02;23;17]: What would you have done if you were not together?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;02;23;20 &#8211; 01;02;29;18]: I would say I probably would have reached out to some contacts.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;02;29;21 &#8211; 01;02;30;19]: To do what?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;02;30;21 &#8211; 01;02;33;05]: To ask for money.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;02;33;07 &#8211; 01;02;38;20]: Oh, why don&#8217;t you just reach out to them right now? Who are these contacts?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;02;38;23 &#8211; 01;02;40;17]: Yeah, I want to know.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;02;40;19 &#8211; 01;02;45;15]: I&#8217;m thinking. Well, I co-own the house with a friend. We bought the house together.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;02;45;17 &#8211; 01;02;46;05]: Okay. 50.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;02;46;06 &#8211; 01;02;46;23]: 50. 50.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;02;46;24 &#8211; 01;02;50;12]: 50. They cover 50% of the expenses.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;02;50;14 &#8211; 01;02;54;00]: No, but all of the rental income comes to me.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;02;54;01 &#8211; 01;02;56;26]: What&#8217;s the split? Like, how do they get money?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;02;56;28 &#8211; 01;02;58;02]: If we sell the house.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;02;58;03 &#8211; 01;02;59;09]: How much do they get?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;02;59;10 &#8211; 01;02;59;28]: 50.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;02;59;29 &#8211; 01;03;00;11]: 50.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;03;00;12 &#8211; 01;03;02;01]: Well, we don&#8217;t know yet.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;03;02;03 &#8211; 01;03;02;23]: Oh.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;03;02;25 &#8211; 01;03;03;17]: 50%.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;03;03;24 &#8211; 01;03;04;23]: 50%.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;03;04;24 &#8211; 01;03;08;07]: What is this? What&#8217;s happening right now? Well.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;03;08;10 &#8211; 01;03;23;08]: It&#8217;s like it&#8217;s it&#8217;s, I guess if if I invest a lot more time and if I end up investing personal money that doesn&#8217;t come from the rental incomes, then I would expect to be compensated for.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;03;23;09 &#8211; 01;03;25;16]: That. Was the sell the house. No contract?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;03;25;17 &#8211; 01;03;27;13]: No. Just vibes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;03;27;15 &#8211; 01;03;33;17]: Okay. What the heck? Like, I was like, how does a life coach sign a contract? And the answer is, they don&#8217;t.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;03;33;18 &#8211; 01;03;37;17]: Know you&#8217;re just with God, with the universe. Like I trust.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;03;37;18 &#8211; 01;03;46;14]: Like, there&#8217;s a lot of it would seem. Perhaps it would make sense if I get a higher percentage. Like, what does the contract say?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;03;46;22 &#8211; 01;03;50;25]: Look, this was five years ago. Me? She was a different human.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;03;50;27 &#8211; 01;03;51;20]: Okay, okay, okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;03;51;21 &#8211; 01;03;52;15]: I wouldn&#8217;t do it the.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;03;52;15 &#8211; 01;03;54;01]: Same way. About to have a heart attack right now.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;03;54;02 &#8211; 01;03;55;14]: Everybody do your contracts.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;03;55;15 &#8211; 01;03;59;03]: Okay. So. And do you talk to this person? Like, are they active?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;03;59;04 &#8211; 01;04;00;11]: We&#8217;re so close. Oh.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;04;00;12 &#8211; 01;04;12;06]: Best friend. Okay. Got it. I need to get my game face back on. All right, so what&#8217;s the vision for where you live going forward?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;04;12;07 &#8211; 01;04;36;16]: Yeah, I think our vision is to be bicoastal because Nicole&#8217;s job is amazing. So really, like, taking advantage of that. While that&#8217;s possible, when I actually met her, I encouraged her. I was like, do you want to just quit and move to Maui? Because I was living in a different world, and I&#8217;m so glad that she was like, no, we need retirement.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;04;36;22 &#8211; 01;04;41;11]: It&#8217;s really nice to have paid for health benefits. Yeah, I have a pension.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;04;41;12 &#8211; 01;04;45;19]: Yeah. So you&#8217;re planning to keep at least live in both cities, right?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;04;45;21 &#8211; 01;05;03;14]: Live in both places. Keep our keep working, but keep our work stress levels at 40% or lower. You know, like, not expending too much energy for work and then just enjoying, like, they&#8217;re both beautiful places and they offer so much and just really, like, enjoying our life.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;05;03;15 &#8211; 01;05;13;03]: Okay, cool. Question. Because babies coming, at a certain point, there&#8217;ll be school questions. Have you thought that far ahead?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;05;13;05 &#8211; 01;05;18;18]: We&#8217;ve had conversations. It&#8217;s going to be a conversation probably for the next few years still.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;05;18;20 &#8211; 01;05;28;20]: Yeah. Which there could be like school expenses in the future possibly. Or we would do public school. These are just big conversations that need to be had.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;05;28;21 &#8211; 01;05;44;20]: Like the by coastal thing I think is awesome for adults. Yeah, I know my wife and I are bicoastal, and even if you have like a two year old three year old. Okay. Yeah. What about five? Eight? Certainly like 13.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;05;44;21 &#8211; 01;05;45;12]: Yeah, yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;05;45;14 &#8211; 01;05;48;21]: My.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;05;48;23 &#8211; 01;05;52;15]: Feeling about it is see where the world&#8217;s at?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;05;52;17 &#8211; 01;06;00;28]: Let&#8217;s assume the world&#8217;s that where it is today. Meaning there&#8217;s public school, private school options, etc.. What would you do if you had, like a 13 year old today? What would like.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;06;01;00 &#8211; 01;06;03;25]: To have them here for school year.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;06;03;28 &#8211; 01;06;07;23]: Here in Southern California for the school year and then summer.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;06;07;26 &#8211; 01;06;09;25]: Maui summer? Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;06;09;25 &#8211; 01;06;22;11]: Okay. I have to be here for the school year. I teach during the school year, so it kind of works out that I teach. Yeah, because for the most part, our schedules will fairly align and then summers will get to go to Maui.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;06;22;12 &#8211; 01;06;28;19]: I like that plan. Your visions of a rich life. Are they compatible with each other?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;06;28;22 &#8211; 01;06;29;10]: I think so.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;06;29;11 &#8211; 01;06;38;07]: Yeah. Okay. Yeah. The part about retiring at roughly 60 or so. Have you put numbers behind that?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;06;38;07 &#8211; 01;07;07;01]: I have, but it&#8217;s gotten off track in the last couple of years. Yeah. So I was looking to basically max out my 403 Be every year, and I would have easily actually been able to retire earlier than 60 because my pension would have covered part of it, and then my 403 B would have matured to a decent place, so I could have pulled 4% and been fine.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;07;07;03 &#8211; 01;07;24;22]: But but now I&#8217;m not putting nearly as much into my 403 B as I used to be.. Because because of the well, it&#8217;s not the house as much as. It&#8217;s like we&#8217;re covering the renovation and the schooling costs.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;07;24;24 &#8211; 01;07;26;03]: Although we know that.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;07;26;06 &#8211; 01;07;27;01]: That will end.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;07;27;03 &#8211; 01;07;29;27]: That will end. In fact, your income will go way up.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;07;29;28 &#8211; 01;07;30;29]: Yeah. Yeah, exactly.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;07;30;29 &#8211; 01;07;42;09]: So I&#8217;m hoping it can change and shift, but I figure the like couple of years of pretty low investing. Maybe moving my goal from 55 to 60 is reasonable.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;07;42;11 &#8211; 01;08;08;02]: Two years in the grand scheme generally does not affect people as much as they think. I know that investing early makes a huge difference. Yes, but just in general, if people take a year or two and they cut their contributions by 50, sometimes even 100%, and then they go back to where they were, truthfully, over the course of 30 years, it makes a little difference, but not that big.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;08;08;02 &#8211; 01;08;25;17]: We&#8217;re talking about small percentage amounts. Yeah. So I like to put everybody at ease, especially like young parents. They tend to freak out because they&#8217;re like, oh my God, I have to cut my contribution rate, blah blah blah blah blah. It&#8217;s okay. For a year or two. Sometimes people have very high temporary expenses. Okay. Loosen up a little bit.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;08;25;18 &#8211; 01;08;41;01]: Give yourself a little bit more. Maybe save a few percentage points less, invest a little bit less. Feel good, but make a plan within 18 to 36 months. We are going back to this percentage and honor it and you will be effectively back on track.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;08;41;04 &#8211; 01;08;56;21]: That feels really relieving. Yeah, honestly. Yeah. I&#8217;ve had so much anxiety being in the red I guess is what the. Yeah, for the last bit of time. And it&#8217;s like, how are we ever going to catch up again? Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;08;56;26 &#8211; 01;09;05;26]: I don&#8217;t like catching up. That whole thing catching up puts you in a bad mental state. Yeah. You&#8217;re a new person today. Let&#8217;s live in this chapter of life.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;09;06;01 &#8211; 01;09;06;08]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;09;06;14 &#8211; 01;09;28;03]: Okay, cool. I do want to look at the numbers. My concern is not that. Nicole, you will have enough for retiring. That&#8217;s not my concern at all. My concern is that the two of you do not talk about money at the same level. And that has to happen. It has to. So that is what I would like for the two of you.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;09;28;04 &#8211; 01;09;28;22]: What do you think?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;09;28;23 &#8211; 01;09;29;05]: I would.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;09;29;05 &#8211; 01;09;31;04]: Love that. That feels so good. Okay. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;09;31;05 &#8211; 01;09;59;12]: Okay. So this is what we&#8217;re going to do in a second. I&#8217;m going to put your CSP back up on screen. I want you to build a plan where you don&#8217;t need every single thing to go right in order to be okay. Yes, there&#8217;s a classic mistake people make. They&#8217;re like, okay, in order for us to live our rich life and have our numbers where they need to be, we just need to triple our income, cut our expenses, never get sick, never have any maintenance like, oh no, no, no, no no.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;09;59;13 &#8211; 01;10;00;14]: I&#8217;m like, what?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;10;00;16 &#8211; 01;10;01;14]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;10;01;16 &#8211; 01;10;10;19]: When we&#8217;re in planning mode, we always plan as if life is going to be perfect. But when we live life, it&#8217;s never perfect. And you both know that. Yeah. How many things have broken in your house?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;10;10;23 &#8211; 01;10;11;12]: So many things.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;10;11;14 &#8211; 01;10;11;21]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;10;11;22 &#8211; 01;10;12;29]: It&#8217;s been so stressful.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;10;13;00 &#8211; 01;10;25;17]: Yeah. Okay. So we&#8217;re going to be conservative in our planning, which might mean that we have to make some decisions that might feel like a little uncomfortable now, but they are a lifetime of comfort.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;10;25;19 &#8211; 01;10;25;25]:\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;10;26;02 &#8211; 01;10;37;06]: Okay okay. Let&#8217;s throw up the CSP on screen. Our goal is to get your fixed costs to 60%.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;10;37;07 &#8211; 01;10;37;24]: Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;10;37;25 &#8211; 01;10;38;13]: Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;10;38;15 &#8211; 01;10;44;06]: All right. What would you like to do to get this number close to 60%.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;10;44;07 &#8211; 01;10;45;13]: I have no idea.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;10;45;15 &#8211; 01;10;54;02]: I mean, I&#8217;m honestly like, I&#8217;m just almost like, we just hold on for the ride. And then starting in May of next year, I start making more money.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;10;54;04 &#8211; 01;11;16;25]: That is one possibility. If you take that risk and everything goes well from now until then, let&#8217;s just say about a year from now, then your fixed cost will come down to roughly 60% and you will have plenty of money. In fact, I&#8217;ll show you what it looks like to be able to assign. Let&#8217;s take a look. I&#8217;m just going to.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;11;16;26 &#8211; 01;11;32;25]: For easy math, I&#8217;m going to double your net. You&#8217;re now at 61% fixed costs. If we go all the way down, you have $8,000 per month to play with. Yeah. I mean, that&#8217;s huge. Why don&#8217;t we say, what would you do with that $8,000 per month.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;11;32;28 &#8211; 01;11;35;25]: Half and half. Half savings and investments.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;11;35;26 &#8211; 01;11;38;03]: Okay. What about guilt free spending?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;11;38;03 &#8211; 01;11;41;11]: So, yeah, we would need, like, a couple thousand for guilt free.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;11;41;12 &#8211; 01;11;41;26]: Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;11;41;27 &#8211; 01;11;44;13]: Yeah, I would say reasonably, if we wanted to.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;11;44;13 &#8211; 01;11;52;16]: Hold on. Notice what&#8217;s happening here. You&#8217;re about to give me your mathematical answer. Correct. And isn&#8217;t part of what we want to change is this dynamic? Yes. Okay. Go ahead. Drew.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;11;52;17 &#8211; 01;12;01;05]: Yeah, I feel like okay, let&#8217;s say we&#8217;re spending 22. We&#8217;re investing 22 and then we&#8217;re savings are 22.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;12;01;06 &#8211; 01;12;13;10]: Okay, I like it I like where are you going? So I put 2200 for savings. Yeah. Your investments are at 10%. Your savings are at 16%. And you still have $3,800 a month for guilt free spending.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;12;13;13 &#8211; 01;12;14;07]: I love that.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;12;14;08 &#8211; 01;12;22;15]: Maybe we just whatever&#8217;s left over at the end of the month, we just put it toward a fund. Like an investment fund or something.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;12;22;16 &#8211; 01;12;31;27]: Remember how they. Have you ever heard that phrase pay yourself first? Yeah, pay yourself first means we put the money in investments first, and whatever&#8217;s left, we can spend it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;12;31;29 &#8211; 01;12;40;18]: Yeah. So we would have to know, like, what we&#8217;re spending, what we want to spend every month, and then basically. Yeah, invest and save the rest.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;12;40;20 &#8211; 01;12;56;06]: Yes, that&#8217;s one way to look at it. But again, I want to flip it. I what I like to do is I like to say how much do we want to save and invest every month. And whatever&#8217;s left is what we get to spend because we pay ourselves first.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;12;56;07 &#8211; 01;13;09;22]: So this is like a, a mind shift that it&#8217;s almost like it&#8217;s having a hard time landing in me. What you&#8217;re saying. You&#8217;re saying no. The money that you have, like guilt free spending.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;13;09;23 &#8211; 01;13;34;09]: So first off, know how much you take home every month. Okay, $28,000 per month. So we&#8217;ve got this much to distribute. Okay. Next, we know that we have some guideline numbers. Less than 60%. You&#8217;re at 61. I&#8217;m fine with that. Okay. These numbers, we like to see them roughly at 10% or so. Okay. In this case you&#8217;re at 24 and 16.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;13;34;09 &#8211; 01;13;35;10]: What does that tell you?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;13;35;11 &#8211; 01;13;36;05]: That we have a lot.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;13;36;06 &#8211; 01;13;48;22]: You have a lot. Yeah. And if you want to put an even finer point on it, you can actually calculate how much you will have at age 55, 60, 65. So you can tell if you need to tune that up. That becomes very precise.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;13;48;24 &#8211; 01;13;57;18]: What if we know how much we need by 60, and we know we have 20 years to go hard on investments, then we could just choose that number and put it aside.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;13;57;19 &#8211; 01;14;20;18]: I like that. I like that&#8217;s that&#8217;s how you do it. Yeah, exactly. That&#8217;s exactly how you pay yourself first. So I will say that I&#8217;m just going to intuitively suggest this investment number probably needs to be higher than 10%, but lower than 24%. If I had to guess, we&#8217;re talking about the range of like 1,415% ballpark. Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;14;20;19 &#8211; 01;14;22;13]: So say 1515.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;14;22;13 &#8211; 01;14;28;02]: So that means you have some money that you can play with and move elsewhere, right? Where would you like to move it?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;14;28;03 &#8211; 01;14;29;16]: You mean in the investments?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;14;29;18 &#8211; 01;14;30;24]: Nope. In.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;14;31;01 &#8211; 01;14;31;14]: Oh.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;14;31;16 &#8211; 01;14;33;01]: Like I could go to savings. Oh, right.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;14;33;02 &#8211; 01;14;37;24]: Because we&#8217;re going from 24 to 15. So yeah, I mean, that could be our guilt free.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;14;37;24 &#8211; 01;14;51;10]: Spending, I agree. So let&#8217;s just for the sake of math, let&#8217;s take 2200 bucks from investments and move it down here. And that gives you 8% and it gives you 16%. That&#8217;s great.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;14;51;11 &#8211; 01;14;54;06]: That&#8217;s pretty good. And I feel like 22 is doable.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;14;54;07 &#8211; 01;14;56;16]: Could you do that 2200 bucks.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;14;56;18 &#8211; 01;15;06;15]: We could do it. And I think we&#8217;d be really happy and super comfortable given the cost of living. If it was three.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;15;06;16 &#8211; 01;15;28;12]: Oh, you would like it to be higher, I like that, okay. Yeah, I like I like advocating for yourself. That&#8217;s great. The good news is your savings doesn&#8217;t need to be saving forever. No. So you&#8217;re currently saving 4400 a month. And just for easy math, 4400. It&#8217;s going to take you a while because your fixed costs are high.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;15;28;13 &#8211; 01;15;32;01]: Very high. So you&#8217;re going to be doing that for a long time. Years. Fine.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;15;32;01 &#8211; 01;15;34;22]: Because we need like 12 months of fixed costs.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;15;34;24 &#8211; 01;16;00;24]: Yeah. You need $200,000 for 12 months. It&#8217;s a lot. It&#8217;s a chunk of change. But I will say this, it sounds outrageous to a lot of people listening to like, $200,000 in a savings account. But when you have a family unit that is making $300,000 a year and your expenses are high, there&#8217;s a lot of things moving, then you need liquidity.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;16;00;28 &#8211; 01;16;15;08]: You need cash. Because if something goes wrong, like a $40,000 flood, what are you going to get it? Put on a credit card? No way. You need to have liquidity. That&#8217;s what this is. So it will take you years to get there. But there.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;16;15;08 &#8211; 01;16;17;03]: You go. I&#8217;d love to see you.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;16;17;03 &#8211; 01;16;18;04]: Want to see some?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;16;18;06 &#8211; 01;16;19;23]: Yeah. What you were asking for.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;16;20;00 &#8211; 01;16;29;06]: Let me give you a couple of projections here about where you&#8217;re going to be. So your pension, I believe you told us, gets you what percentage?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;16;29;13 &#8211; 01;16;35;03]: If I retire at 60, it will be 7%, I think.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;16;35;05 &#8211; 01;16;54;27]: Okay, so let&#8217;s start with your old situation. If you change nothing, if the income does not double, what happens? You will have about $1.6 million at the age of 60. Okay. What do you think about that number right off the bat?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;16;54;28 &#8211; 01;17;02;14]: It&#8217;s great if we own our homes and that housing cost is not 40% anymore.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;17;02;15 &#8211; 01;17;04;25]: Okay. Nicely put, I agree. Drew.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;17;04;26 &#8211; 01;17;10;24]: Yeah, I it sounds like a lot to me. Okay. I&#8217;m surprised by.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;17;10;26 &#8211; 01;17;21;27]: Let&#8217;s go deeper. Yeah. If you take 4% of that money every year, you can and you retire at age 65, you can safely withdraw 4%.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;17;21;28 &#8211; 01;17;23;16]: Oh, yeah. You were just talking about this.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;17;23;17 &#8211; 01;17;24;00]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;17;24;02 &#8211; 01;17;25;01]: Oh 4%. Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;17;25;03 &#8211; 01;17;31;11]: Yeah. The 4% rule. So that would give you per year of income $67,000.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;17;31;17 &#8211; 01;17;36;04]: So we&#8217;d have to live on $67,000 a year. Yeah. We would have to have no housing costs.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;17;36;05 &#8211; 01;17;44;05]: Or housing would have to be paid off. Yeah. So that&#8217;s one. And what else? Just consider that the two of you make $300,000 today.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;17;44;06 &#8211; 01;17;44;15]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;17;44;17 &#8211; 01;17;53;25]: I mean, are all of our fixed costs would be probably just going to that basically. And then we wouldn&#8217;t have any guilt free spending.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;17;53;27 &#8211; 01;17;54;09]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;17;54;10 &#8211; 01;17;56;04]: Yeah, we would be struggling. I think.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;17;56;05 &#8211; 01;17;56;15]: It would.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;17;56;15 &#8211; 01;17;57;20]: Be tough. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;17;57;25 &#8211; 01;18;08;26]: Now there is something I want to add the pension. So the pension at 60% would give you $102,000 per year. So that&#8217;s quite a bit.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;18;08;27 &#8211; 01;18;10;29]: On top of the one.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;18;11;00 &#8211; 01;18;18;15]: In the top of the 67. Okay. So that means that per year you would have about $170,000.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;18;18;17 &#8211; 01;18;19;29]: That&#8217;s not bad.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;18;20;01 &#8211; 01;18;20;25]: Not bad.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;18;20;26 &#8211; 01;18;22;26]: Yeah that&#8217;s amazing.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;18;22;28 &#8211; 01;18;33;15]: 170 K and assume you keep both houses and pay those off. I don&#8217;t know if you&#8217;ll pay them off in time.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;18;33;21 &#8211; 01;18;34;03]: No.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;18;34;09 &#8211; 01;18;35;09]: That&#8217;s a problem.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;18;35;11 &#8211; 01;18;36;10]: Yeah. That&#8217;s why.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;18;36;11 &#8211; 01;18;41;04]: There we have a we both got a 30 year recently. Recently.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;18;41;05 &#8211; 01;18;41;10]: Okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;18;41;11 &#8211; 01;18;42;16]: So that&#8217;s been five years.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;18;42;17 &#8211; 01;18;45;00]: So yeah I&#8217;m putting a little bit more than I&#8217;m.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;18;45;00 &#8211; 01;18;46;02]: Putting a little bit more.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;18;46;02 &#8211; 01;18;49;28]: But yeah. So mine is 25 years.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;18;50;00 &#8211; 01;18;52;28]: Still how many years until you retire at 60.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;18;53;00 &#8211; 01;18;54;06]: 21.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;18;54;08 &#8211; 01;19;05;14]: Okay. So there&#8217;s a few years. Well, you might work extra. You might save some extra, put some extra payments. You could do it. You could play with it. Yeah. It&#8217;s not perfect, but it&#8217;s within the realm of possibility.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;19;05;16 &#8211; 01;19;10;19]: Yeah. It&#8217;s doable. And especially if you retire, I could keep working easily, you know, from home.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;19;10;20 &#8211; 01;19;17;21]: Can I just. Can I make a point? I don&#8217;t like to plan for retirement. Where, like.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;19;17;23 &#8211; 01;19;18;07]: We&#8217;re like.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;19;18;07 &#8211; 01;19;19;10]: It&#8217;s pretty close.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;19;19;12 &#8211; 01;19;19;20]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;19;19;21 &#8211; 01;19;39;02]: Tight way. That&#8217;s not how I live my life. I live my life where if you tell me I need, like, a million. I want to have a plan. Where with my eyes closed, I come in at 1.8 million. Yeah. Because I know that something&#8217;s bad&#8217;s going to happen, and I&#8217;m gonna have to stop working for a couple of years and blah, blah, blah, blah, blah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;19;39;04 &#8211; 01;19;51;00]: Yeah, yeah. So I don&#8217;t like this, and I&#8217;m sharing it with you because I want you to develop an intuition and a taste for when the numbers don&#8217;t smell right.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;19;51;07 &#8211; 01;19;52;01]: Yeah, yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;19;52;02 &#8211; 01;20;17;26]: Doesn&#8217;t smell right to me. Especially a couple making 300 K. You don&#8217;t want to live on less and be like, oh, can we afford grapes? Sucks. Okay, so let&#8217;s go to the new situation. The one in which we assume that you double your income. Yeah. Here&#8217;s what we got. If you retire at age 60, you will have $3.6 million.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;20;17;28 &#8211; 01;20;20;12]: That&#8217;s a lot more than the other case.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;20;20;13 &#8211; 01;20;21;17]: Yeah, it&#8217;s more than double.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;20;21;18 &#8211; 01;20;22;07]: Yep.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;20;22;12 &#8211; 01;20;23;16]: 42.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;20;23;17 &#8211; 01;20;27;24]: 44%. Wow. That&#8217;s pretty. How&#8217;d you do that in your head so fast?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;20;27;25 &#8211; 01;20;28;23]: She&#8217;s so smart.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;20;28;25 &#8211; 01;20;30;08]: That&#8217;s impressive.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;20;30;10 &#8211; 01;20;33;03]: I just took 1% and multiply it by four.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;20;33;06 &#8211; 01;20;41;24]: That&#8217;s very good. Okay, listen, like 50% of the people on this show don&#8217;t even know their own income. Well, actually, including this show. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;20;41;25 &#8211; 01;20;42;16]: All right. Case in.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;20;42;16 &#8211; 01;20;56;05]: Point, your 4% withdrawal number would be $147,000. And then we add on pension at 60% would be $102,000, for a total amount, $250,000 per year.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;20;56;06 &#8211; 01;20;59;10]: Which is close to what we&#8217;re making now. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;20;59;11 &#8211; 01;21;18;15]: I think that the one thing to consider is that the house in Maui, it generates income. Yes. And so I even if we were retired, maybe we wouldn&#8217;t rent out all of the units so there&#8217;d be a little less landlords work, but there could still be income there.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;21;18;16 &#8211; 01;21;24;08]: Yeah. And I could still be working a little bit if we wanted an extra, like 50 K or something.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;21;24;09 &#8211; 01;21;26;16]: It feels a lot more comfortable talking about this one, doesn&#8217;t it?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;21;26;19 &#8211; 01;21;27;01]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;21;27;03 &#8211; 01;21;27;25]: It feels nice.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;21;27;27 &#8211; 01;21;34;22]: It&#8217;s like. Oh, yeah. Like, we don&#8217;t have to scrimp on everything. Yeah. Okay, so what needs to happen in order for this to become a reality?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;21;34;26 &#8211; 01;21;42;25]: I think what needs to happen is I just need to take all this information and live it, essentially.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;21;42;27 &#8211; 01;21;59;24]: Yes. I think to be more specific, at least to put in a language I would use would be you&#8217;ve got to start modeling these things and understanding them. And that happens through engaging. It&#8217;s like learning how to cook. We can hear about it all day long. The next thing we want to read a cookbook. That&#8217;s a good start.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;21;59;28 &#8211; 01;22;18;08]: But then ultimately we need to get in there. And we need to start like trying stuff because some eggs are going to break and we&#8217;re going to be like, oh, but it&#8217;s not the end of the world. I have another egg. Let me practice, right? That&#8217;s what happens with this. When you deeply get in there and start playing with the numbers and typing on the, you know, my compound interest calculator, and you go, wait a second.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;22;18;08 &#8211; 01;22;29;21]: If we put an extra $100 towards this mortgage, we shave off three years. That&#8217;s crazy. That&#8217;s when you really get it. Yeah. Now, for the next year, we want to talk about that.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;22;29;22 &#8211; 01;22;30;11]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;22;30;14 &#8211; 01;22;43;24]: You have a baby coming. Which, even with all the amazing benefits you have, still introduces ambiguity. Yeah. Yeah. Uncertainty. How do you think about that in terms of finances?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;22;43;26 &#8211; 01;22;45;03]: It&#8217;s really scary.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;22;45;06 &#8211; 01;22;50;21]: Yeah. Like, what if the job, for whatever reason, doesn&#8217;t materialize?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;22;50;24 &#8211; 01;22;59;07]: I mean, I don&#8217;t know, then we get what we get from nickels.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;22;59;09 &#8211; 01;23;00;09]: And my job.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;23;00;10 &#8211; 01;23;11;10]: Hold on. Play it out for me. So let&#8217;s say that I&#8217;m going to just make up a morbid situation. Let&#8217;s say you get sick. Yeah, and you can&#8217;t work. What happens?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;23;11;12 &#8211; 01;23;15;18]: Oh, gosh. It was just like, wouldn&#8217;t it would. We would be unhappy.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;23;15;20 &#8211; 01;23;17;17]: What about the numbers? What about the money?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;23;17;20 &#8211; 01;23;19;12]: The money would be stressed.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;23;19;13 &#8211; 01;23;23;15]: Yeah. Would you be able to afford your expenses?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;23;23;19 &#8211; 01;23;26;21]: Well, we&#8217;re at 85% correct.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;23;26;22 &#8211; 01;23;30;11]: So you&#8217;re you&#8217;re basically spending more than you make right now?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;23;30;13 &#8211; 01;23;31;02]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;23;31;09 &#8211; 01;23;34;14]: You would not be able to pay for the house&#8217;s right. One or both.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;23;34;18 &#8211; 01;23;35;03]: For sure.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;23;35;04 &#8211; 01;23;37;24]: Yes. That&#8217;s also an answer. Yeah. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;23;37;26 &#8211; 01;23;39;06]: Like on a very practical level.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;23;39;07 &#8211; 01;23;39;14]: Yes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;23;39;15 &#8211; 01;23;42;12]: Run out of money. You would run out of money. And when you run out of money, what happens?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;23;42;13 &#8211; 01;23;45;19]: We live with Nicole&#8217;s parents, right? If we run out of money.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;23;45;22 &#8211; 01;23;48;26]: Or you find yourself back in that roommate situation.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;23;48;29 &#8211; 01;23;50;16]: Another which are tenable.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;23;50;22 &#8211; 01;24;21;29]: They&#8217;re not tenable, I agree. Yeah. So all of this presupposes that you not only graduate, which I&#8217;m sure will happen, but it presupposes that. But also, you get a job. Okay. That&#8217;ll happen. Which doubles your income? Yeah. All of it. Within a year. Yeah. I don&#8217;t know, to me, that&#8217;s like. That&#8217;s a lot. All focusing on one thing happening.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;24;22;05 &#8211; 01;24;23;00]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;24;23;05 &#8211; 01;24;26;21]: It&#8217;s like a single point of failure for me. Right. I don&#8217;t like that.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;24;26;22 &#8211; 01;24;27;15]: Yes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;24;27;16 &#8211; 01;24;52;01]: If you decided, for whatever reason, to slow down your education or stop for a while and go part time because you&#8217;re really enjoying time with baby or whatever. Who knows? A parent got sick. Who knows? So would you be open to considering a plan where if we don&#8217;t have everything has to depend on you achieving this major thing?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;24;52;04 &#8211; 01;24;55;22]: Yes. All right. Is there such a plan?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;24;55;24 &#8211; 01;24;56;14]: What you do? Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;24;56;17 &#8211; 01;24;57;23]: There&#8217;s no idea.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;24;57;23 &#8211; 01;25;00;09]: What would you do? Ask for help if you&#8217;re not sure.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;25;00;10 &#8211; 01;25;07;06]: How could we possibly. I mean, we could sell a house. That&#8217;s, like an obvious big thing.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;25;07;08 &#8211; 01;25;09;02]: Is it obvious?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;25;09;04 &#8211; 01;25;11;08]: I mean, they&#8217;re the biggest expenses.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;25;11;10 &#8211; 01;25;13;16]: Should we explore what that looks like?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;25;13;18 &#8211; 01;25;16;12]: We can. Let&#8217;s just explore.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;25;16;15 &#8211; 01;25;28;20]: Let&#8217;s let&#8217;s put the CSP back up on screen. I have no idea what it would look like. I don&#8217;t even know if it&#8217;s a good idea or not, but I would like to explore it because it&#8217;s the biggest numbers. Yeah. So which house would you sell?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;25;28;27 &#8211; 01;25;29;27]: This is the hard part.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;25;29;29 &#8211; 01;25;41;26]: Yeah. I mean, if we want to keep Nicole&#8217;s great job with all the benefits, then it makes the most sense to sell the Maui house. And the Maui house has a lot of income that comes through it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;25;42;02 &#8211; 01;25;43;11]: So it&#8217;s.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;25;43;14 &#8211; 01;25;53;00]: Well, let&#8217;s play it out. Okay, so let&#8217;s model out selling the Maui house. We&#8217;ll be a little loose with it, but if you sold it today, how much would you get?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;25;53;06 &#8211; 01;25;56;05]: 1.5. Oh and then I would get half of that.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;25;56;06 &#8211; 01;25;58;23]: So you&#8217;d get 750. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;25;58;29 &#8211; 01;26;00;15]: Seven. 50. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;26;00;16 &#8211; 01;26;13;11]: You owe 500. You would. You would get 750. So that&#8217;s 250,000 you would get minus taxes blah blah blah transaction fees. Shall we say 150?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;26;13;12 &#8211; 01;26;14;22]: Sure.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;26;14;24 &#8211; 01;26;16;21]: Yeah. I feel like it would be more.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;26;16;21 &#8211; 01;26;17;24]: But capital gains.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;26;17;29 &#8211; 01;26;18;08]: That&#8217;s what.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;26;18;08 &#8211; 01;26;19;15]: Every house of.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;26;19;17 &#8211; 01;26;32;26]: Every homeowners like. I thought I would get a lot more. Actually, they don&#8217;t even know because they don&#8217;t look at the numbers. They don&#8217;t know anything. They go, I sold it for this much. I&#8217;m a Jillian Air. I go, you never factored in. All right. We&#8217;re just going to say 150. Maybe it&#8217;s more. Maybe it&#8217;s less, but.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;26;33;03 &#8211; 01;26;34;06]: Sure. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;26;34;11 &#8211; 01;26;39;19]: Okay, so you just got $150,000? Yeah. What are you doing with the money?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;26;39;20 &#8211; 01;26;42;02]: We have to adjust all of the income levels.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;26;42;03 &#8211; 01;26;45;28]: Yeah. We do. So the current income.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;26;46;04 &#8211; 01;26;48;08]: Goes down by $7,000.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;26;48;09 &#8211; 01;26;49;22]: That&#8217;s how much comes in every month.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;26;49;23 &#8211; 01;26;50;08]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;26;50;09 &#8211; 01;26;51;10]: Wow. That&#8217;s a lot.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;26;51;11 &#8211; 01;26;52;09]: Yeah. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;26;52;10 &#8211; 01;26;54;10]: That&#8217;s a big. That&#8217;s a tricky situation.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;26;54;11 &#8211; 01;26;55;29]: That&#8217;s why it&#8217;s very tricky.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;26;56;00 &#8211; 01;27;03;21]: All right, let&#8217;s take a look. So this number which is currently 8000 net goes down to 1000. Yep. Is it 7000 net net.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;27;03;25 &#8211; 01;27;04;14]: Yep.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;27;04;19 &#8211; 01;27;07;22]: Okay. Let&#8217;s take a look. Oh, you&#8217;re at 130.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;27;07;24 &#8211; 01;27;08;10]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;27;08;12 &#8211; 01;27;14;21]: All right. All right. All right. But we don&#8217;t have the cost of this anymore. Is it this one?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;27;14;22 &#8211; 01;27;15;16]: Yeah, it&#8217;s that one.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;27;15;16 &#8211; 01;27;24;20]: So let&#8217;s zero that out. We&#8217;re down to 84%. Basically the same number. However, what&#8217;s the difference?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;27;24;21 &#8211; 01;27;25;25]: 150.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;27;25;27 &#8211; 01;27;27;09]: $150,000.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;27;27;10 &#8211; 01;27;33;07]: Yeah, right. Oh, we&#8217;d take out the car payment and we&#8217;d take out the insurance.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;27;33;08 &#8211; 01;27;34;04]: Why is your payment.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;27;34;04 &#8211; 01;27;36;22]: Go away? Because we only have one car in each city.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;27;36;23 &#8211; 01;27;40;27]: Oh I see. Got it. Okay. Yeah. Got it. Zero. Okay. Wow.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;27;41;00 &#8211; 01;27;42;15]: Insurance would above.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;27;42;17 &#8211; 01;27;49;15]: The insurance would go out. Okay. Yeah. 73%. Wow. What about this repair?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;27;49;18 &#8211; 01;27;50;24]: Zero zero.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;27;50;25 &#8211; 01;27;57;03]: Zero on that. Okay. What percentage are we at for fixed cost right now? 69. 69%. That&#8217;s interesting.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;27;57;07 &#8211; 01;28;04;07]: The housing. Reno? Yeah. On my column, it wouldn&#8217;t be a thousand. It&#8217;d be more like 500.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;28;04;08 &#8211; 01;28;04;23]: Really?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;28;04;24 &#8211; 01;28;10;03]: Yeah. My house doesn&#8217;t have as much. It&#8217;s. The square. Footage is very small in comparison.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;28;10;05 &#8211; 01;28;11;15]: What&#8217;s the fixed cost? Number?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;28;11;19 &#8211; 01;28;13;27]: 65. Wow.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;28;13;28 &#8211; 01;28;15;03]: What&#8217;s happening right now?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;28;15;06 &#8211; 01;28;19;21]: It went down like 20%. Plus we have 150,000.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;28;19;25 &#8211; 01;28;20;28]: Just liquid?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;28;20;29 &#8211; 01;28;21;22]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;28;21;28 &#8211; 01;28;27;24]: 150,000. Which you could use for. Give me some options.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;28;27;26 &#8211; 01;28;28;23]: Retirement.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;28;28;24 &#8211; 01;28;31;14]: You could invest all of it. Yeah. You could. What else could.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;28;31;14 &#8211; 01;28;32;19]: You do? Emergency fund.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;28;32;21 &#8211; 01;29;00;22]: Emergency fund. You could knock out your emergency fund payment in one fell swoop. And then the money you used to put towards it, which is like 4000 bucks a month, could be used for further retirement. Take a little bit of it and enjoy it. Yeah, yeah. ET cetera. Etc.. How about you both go? Hey, we love Maui. So we&#8217;re gonna put $1,000 a month aside, and we&#8217;re going to go there and rent a place for a month, a year.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;29;00;23 &#8211; 01;29;02;18]: But we don&#8217;t need to maintain any of it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;29;02;19 &#8211; 01;29;09;12]: Yeah. Oh my God. The no landlord stress would be amazing.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;29;09;13 &#8211; 01;29;12;00]: No more phone calls. Yeah. No more flights.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;29;12;02 &#8211; 01;29;14;03]: There&#8217;s so many phone calls. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;29;14;08 &#8211; 01;29;15;18]: So it&#8217;s an option?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;29;15;19 &#8211; 01;29;16;18]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;29;16;20 &#8211; 01;29;25;12]: Kind of pleasantly surprised to see that. Like, I see a lot of realizations happening for you. What&#8217;s happening?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;29;25;14 &#8211; 01;29;42;07]: Because the house has been a source of stress. It just feels like. Yeah, an exhale that we wouldn&#8217;t have to have that stress anymore. Yeah. So that feels nice.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;29;42;09 &#8211; 01;29;44;28]: Kind of echoes what you said about the kind of life you want to create. Right.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;29;44;29 &#8211; 01;29;45;17]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;29;45;19 &#8211; 01;29;49;18]: You don&#8217;t want to spend a ton of time on work.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;29;49;20 &#8211; 01;29;50;17]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;29;50;19 &#8211; 01;29;52;21]: Being a landlord is work.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;29;52;26 &#8211; 01;29;53;16]: Yes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;29;53;17 &#8211; 01;30;12;12]: It really is work. Yeah. We would. I would have to have that fund that you mentioned, like a thousand a month or more. That would be so essential because I would be so devastated if I had to stay in SoCal all the time.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;30;12;12 &#8211; 01;30;33;14]: And you could never go back. Yeah, that&#8217;s not the case. Right. One thing that I love doing when I speak to people and help them create their rich life is they often think, if I make this decision, I can never have that again. Like, if I sell a house or if I get rid of my third car, whatever, and I go, wait a second.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;30;33;15 &#8211; 01;30;43;10]: Do you love driving this car? I love it. I love a BMW. I have horrible tasting cars I love. I go, why don&#8217;t you rent it from Turo?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;30;43;13 &#8211; 01;30;44;21]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;30;44;24 &#8211; 01;30;59;21]: Take it out. Two days, two times a month. Get a nicer one. And? And because we have this idea that we have to own it. And if we don&#8217;t own something, it feels like chopping off part of our arm. We necessarily limit ourselves.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;30;59;23 &#8211; 01;31;28;07]: Yeah, I love that. It gives me a sense that there&#8217;s not just one option. Yes. It felt like, okay, we have to just really bear down and like, grit our teeth and get through this year and pray that you get enough clients and pray that enough of them want to pay the fee that we need. And if all of that works out, then we&#8217;ll be okay.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;31;28;10 &#8211; 01;31;31;05]: Yeah. It&#8217;s really high stakes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;31;31;06 &#8211; 01;31;42;02]: Yeah. And we can still do that, actually. And then if it doesn&#8217;t work, we have this backup plan. That feels really good.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;31;42;05 &#8211; 01;32;13;04]: Yeah. That&#8217;s really beautiful. Yeah. And you have now upside because you&#8217;ve really, like, cut down your fixed costs. So what that means is if you are able to let&#8217;s just say add 50% to your image. That&#8217;s like amazing. Wow. I mean, you&#8217;re already crushing it right now, as is at $296,000 with 150 K liquid. So if you&#8217;re able to increase your income a bit.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;32;13;10 &#8211; 01;32;32;06]: Wow. That&#8217;s like thousands and thousands. And if you&#8217;re able to double your income, I mean, you have more money than you know what to do with. Yeah. All because you made one decision. Now that cascades through the rest of your life, and maybe five years from now, you go, hey, I actually really want to go back to Maui and have a place of our own.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;32;32;10 &#8211; 01;32;50;23]: Okay, cool. Well, we have $380,000 in savings. We have this, we have that. What does it look like now that we are both speaking this language at the same level, we can now start to plan ahead. But we&#8217;re not playing not to lose. We actually get to play to win.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;32;50;25 &#8211; 01;32;54;15]: That&#8217;s cool. That&#8217;s really cool. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;32;54;16 &#8211; 01;32;58;25]: I love it. I love seeing it in both of your eyes. Yeah. What are you feeling right now?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;32;58;27 &#8211; 01;33;30;20]: I&#8217;m feeling excited. I&#8217;m feeling connected. I feel like we. This decision that I had for Maui was before I knew you and before this family. And. Yeah, there&#8217;s something here about, like having it be more intentional for us moving forward and like, how there are possibilities. And it doesn&#8217;t just have to rely on me doubling my income. You know, starting in May next year and then having it be sustainable because, yeah, maybe it&#8217;s not.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;33;30;20 &#8211; 01;33;33;00]: Maybe something happens and then we have alternatives.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;33;33;02 &#8211; 01;33;33;14]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;33;33;15 &#8211; 01;34;06;03]: That&#8217;s so much pressure that I hope you can feel can come off your shoulders. Like it doesn&#8217;t have to be everything on you. We can still have a dream life. We can have our rich life. And it doesn&#8217;t all have to be completely on your shoulders. Yeah, and we can make it work so that no matter what, you can still have the ocean and the people in the community.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;34;06;05 &#8211; 01;34;07;07]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;34;07;10 &#8211; 01;34;21;23]: I think I would want to see the specific numbers for what, like a three month stay on Maui would look like if we&#8217;re not just staying with friends and we want to have our own place and then factor that in. Yeah. And yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;34;21;25 &#8211; 01;34;46;07]: I love that. I love that you&#8217;re asking. I would need to see the numbers. Yes. I love that that&#8217;s so cool. Yeah. You should be really thoughtful. And you should factor in airfare and hotel and all that stuff. Airbnb, whatever it may be. But I suspect I&#8217;m not sure. But I suspect that even going there for two months at a time or something like that, will never equal the cost of ownership.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;34;46;13 &#8211; 01;34;57;25]: It might feel different because you&#8217;re actually paying out of your pocket, but when you look at the numbers and you have the full board in front of you, you go happy to do it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;34;57;26 &#8211; 01;34;59;09]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;34;59;12 &#8211; 01;35;03;08]: Again, it&#8217;s up to you, your rich life, what you both want. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;35;03;13 &#8211; 01;35;20;08]: Yeah, I love that. I love the idea of, like, figuring out what is the thing that actually matters. And what are we doing to, like, get there. So if being and Maui is what matters, do we have to actually own a home? Great to get there.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;35;20;11 &#8211; 01;35;40;17]: No. Do we have to be there these specific months? Do we have to do x, y, z? What&#8217;s the important thing that we really need to make happen? We need to be there with our people. Yeah. Cool. What are all the ways to get there? Just opening up the idea of potentially selling the Maui house has changed everything in this room right now.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;35;40;17 &#8211; 01;35;59;01]: I think that drew a Nicole feel really good at simply the option of being able to sell their house. It&#8217;s kind of like a lot of New Yorkers who live in a building with a rooftop. They have a grassy area or a barbecue up there. Do they ever use that rooftop? No, never. But they love knowing it&#8217;s there.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;35;59;01 &#8211; 01;36;16;09]: And this is the same thing happening with Drew and Nicole. Just the idea that they could possibly sell the house feels incredibly expansive, but I don&#8217;t want to let him walk out of here just feeling good. I want to press them a little bit. Okay, so let&#8217;s talk about next steps.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;36;16;10 &#8211; 01;36;41;26]: Yeah, yeah. I feel like before the baby gets here, if possible, we just run a bunch of scenarios, you know, like, let&#8217;s look at selling you quitting your job and us just living in Maui on my salary. Let&#8217;s look at Maui and what it would be to go there for three months without the house. And let&#8217;s look at my different salary possibilities.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;36;41;26 &#8211; 01;36;58;02]: And yeah, I just this idea of like the possibilities that are there for us is really fun and encouraging. And then we have that information and then we can, yeah, be on the same page. I love that you like that. It&#8217;s so.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;36;58;03 &#8211; 01;37;03;25]: It&#8217;s great to hear you say that. It sounds fun. Yeah. You don&#8217;t usually use that word.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;37;03;26 &#8211; 01;37;04;07]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;37;04;13 &#8211; 01;37;05;13]: That&#8217;s cool money. Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;37;05;14 &#8211; 01;37;27;27]: That&#8217;s actually really cool. Your energy is super positive. Yeah, I like that. And as as I can see here and I. And I&#8217;m grateful that you&#8217;re letting everybody else see it&#8217;s the vision first and then the numbers second. So like, hey, let&#8217;s I love that you&#8217;re like, let&#8217;s play with what if you quit your job? That&#8217;s cool. Yeah, kind of unlikely, but I like that you brought it up.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;37;27;28 &#8211; 01;37;39;25]: Yeah. And that&#8217;s. We should play with that. Yeah. What if we move here? What if we move there? What if x, y, z. Everything&#8217;s up for discussion, and then we can decide what feels right. It&#8217;s actually fun to do that.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;37;39;26 &#8211; 01;37;40;11]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;37;40;12 &#8211; 01;37;47;16]: Then we plug the numbers in and say like, okay, what would it look like? That&#8217;s obviously not going to work. Cross that one off. Right. This could work.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;37;47;19 &#8211; 01;37;57;10]: Yeah. We&#8217;re in such a place of privilege and have so many advantages. And so it is play. It&#8217;s like we get to play with this money and see what we want to do with it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;37;57;12 &#8211; 01;38;11;18]: Beautiful. It&#8217;s I love this abundance. I can hear it in you like we have abundance. And we get the gift of being able to choose how we spread it around. Yeah. Would there be a date by which you would want to make a decision?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;38;11;19 &#8211; 01;38;12;05]:\u00a0<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;38;12;06 &#8211; 01;38;28;02]: Probably this place is is home. And to have time to really actually make the decision I feel like Drew&#8217;s going to need to be there. I could be wrong.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;38;28;05 &#8211; 01;38;28;12]: I see.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;38;28;12 &#8211; 01;38;57;13]: Your point. She&#8217;s so experientially in her decision making that I feel like while I could make this decision logically and just in my head hypothetically and stuff like that, that&#8217;s not the way that drew makes decisions. And I feel like having a at least a few months, but maybe it could be less of time there, would allow her to feel into like, how much time do I need here every year?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;38;57;14 &#8211; 01;38;58;28]: What do you say, drew?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;38;59;01 &#8211; 01;39;21;26]: Yeah. Thank you. I feel so seen. That&#8217;s really sweet. And I actually feel excited by the three month proposal. Not that I say yes to it, but what I&#8217;m saying is, I feel excited by the confines of a deadline. That&#8217;s pretty soon, actually, because it is. This is a big deal. Like, we are not in a good place, you know.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;39;21;27 &#8211; 01;39;30;14]: And so I think it does require a little bit of urgency. And I could maybe do like a six month or something.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;39;30;15 &#8211; 01;39;31;25]: There&#8217;s lots of ways to play it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;39;31;26 &#8211; 01;39;32;15]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;39;32;17 &#8211; 01;39;56;06]: Could be three, could be four, could be six. You all can decide. Part of that decision would be modeling out how much are we going to have in savings? How much is it going to cost for us to fly to Hawaii? Now all these things start to really need to be factored in. And and then you have to decide, you know, like if I, if I&#8217;m you and I&#8217;m down to 20 K in savings, we don&#8217;t want that.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;39;56;07 &#8211; 01;40;00;20]: Your fixed costs are too high. We also have to remember that just because you decide to sell doesn&#8217;t mean it sells.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;40;00;21 &#8211; 01;40;02;06]: Oh, no. Yeah, right.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;40;02;07 &#8211; 01;40;02;18]: So there&#8217;s.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;40;02;18 &#8211; 01;40;03;22]: All sellers fees and.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;40;03;22 &#8211; 01;40;07;25]: All this stuff. Yeah. There&#8217;s like a lot of stuff to happen and you need to paint it or whatever.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;40;07;26 &#8211; 01;40;08;16]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;40;08;19 &#8211; 01;40;31;10]: But what I love hearing from you, drew is, hey, actually, tell me what&#8217;s on your mind because I like the confines. I don&#8217;t mind the urgency. Yeah. Another way to look at it would be to say we can keep this place in Maui. But, drew, this is how much you have to make starting a month from now, right?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;40;31;11 &#8211; 01;40;32;12]: Yes, yes.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;40;32;13 &#8211; 01;40;52;29]: And then maybe Drew&#8217;s like. Sounds great. Get out of my way. Yeah, that&#8217;s another option. Yeah, but it has to be consistent. It can&#8217;t be like one off client. It&#8217;s got to be consistent, right? Put it all out on the table. My point is, use the numbers to guide you. Because if you&#8217;re down to 20 or 30 K, which is not far off from where you are at 67 K in savings, you&#8217;re in a danger zone.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;40;53;00 &#8211; 01;40;54;17]: Yeah, yeah, I like that.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;40;54;18 &#8211; 01;41;08;07]: Cool. I think that the two of you should jointly figure out your timeline and. Yeah, like, if it&#8217;s me, you know, you have three months of expenses. I wouldn&#8217;t let it get much less.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;41;08;08 &#8211; 01;41;11;24]: I see why you said the three month number. Okay. Yeah, yeah, yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;41;12;01 &#8211; 01;41;21;20]: I don&#8217;t like to ever have my back against the wall. So the urgency is actually, like, very functional. And it will help you make the right decision.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;41;21;21 &#8211; 01;41;22;05]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;41;22;06 &#8211; 01;41;22;17]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;41;22;18 &#8211; 01;41;23;08]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;41;23;14 &#8211; 01;41;24;20]: I appreciate that.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;41;24;21 &#8211; 01;41;43;02]: Okay. You still have decisions to make. But what we&#8217;ve done, I think is we&#8217;ve kind of it&#8217;s like we&#8217;re in a garden. We&#8217;ve kind of opened up the possibility. Like we&#8217;ve loosened up some of these plants that have these deep roots. Maybe we&#8217;re going to be in Maui with a home that we own, maybe in a different form.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;41;43;05 &#8211; 01;41;57;25]: Maybe you&#8217;re going to be making what you&#8217;re making. Maybe you&#8217;re going to double your income. Who knows? Maybe you&#8217;re going to work at the place you work for 20 years, maybe 30. I don&#8217;t know. Is your rich life vision still the same, or has it changed as we&#8217;ve been talking?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;41;57;26 &#8211; 01;42;24;04]: For me, I&#8217;m feeling the the spaciousness that call for spaciousness. You know, that really used to be such a core value of mine, just to have spaciousness in life. And by that I just mean, like, not super stressed, not feeling like squeezed on, not feeling like a back against a wall. And I&#8217;m it has been very tight and money has created so much stress.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;42;24;04 &#8211; 01;42;30;11]: And so I&#8217;m really feeling called to include spaciousness in our, in our life.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;42;30;14 &#8211; 01;43;05;25]: I love that. Yeah, yeah. I feel like community is still core, and work life balance is part of that getting to spaciousness. But it is interesting. I feel like having a sense of what can we be doing to make our lives easier, as opposed to I feel like we&#8217;ve been holding on so tightly to one specific way of doing it, and it&#8217;s not necessarily even serving us like it&#8217;s not necessarily serving that vision.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;43;05;28 &#8211; 01;43;06;11]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;43;06;12 &#8211; 01;43;30;07]: It&#8217;s really powerful. Spaciousness is a word I&#8217;ve not heard associated with a rich life before, but it makes so much sense. Yeah, it&#8217;s it&#8217;s actually speaking to me as well. When you say that spaciousness on my calendar, spaciousness, even in a room where we have high ceilings and spaciousness in the way that I can think about all the different ways I want to do the things I want to do, there&#8217;s so many different ways.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;43;30;09 &#8211; 01;43;47;24]: That&#8217;s really cool. I love that. And what you mentioned about we&#8217;ve been holding on so tightly, but maybe we need to be relooking at the vision and zooming out and saying, like, are we still doing it? Or are we just holding on to this thing that&#8217;s been in our hands for a long time?<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;43;47;25 &#8211; 01;43;49;13]: Yeah, definitely.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;43;49;14 &#8211; 01;43;50;08]: It&#8217;s kind of cool.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;43;50;10 &#8211; 01;43;50;26]: Yeah, it&#8217;s.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;43;50;26 &#8211; 01;43;51;14]: Very cool.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;43;51;14 &#8211; 01;44;16;16]: I find you&#8217;re both very agile with the way that you think about these things. Agile agility in a rich life, very important because necessarily the world will throw things at you. And, you know, like they have those stories about the monkey. Once you put something in their hand, they can&#8217;t let go. That&#8217;s a lot of people. Yeah. Like we just have this idea we have to buy an SUV or a house or this or that, and we just can&#8217;t let go even though we&#8217;re drowning.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;44;16;22 &#8211; 01;44;23;12]: Yeah, but the fact that you can now play with these ideas. Yeah, it&#8217;s really impressive.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;44;23;14 &#8211; 01;44;24;03]: Yeah.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;44;24;05 &#8211; 01;44;25;18]: Thank you. It&#8217;s really exciting.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Drew [01;44;25;19 &#8211; 01;44;26;18]: And it&#8217;s exciting.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;44;26;21 &#8211; 01;44;35;28]: It&#8217;s felt like drowning, honestly. Drowning. And this feels like. Oh, I could just stand up. We were in the shallow.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;44;35;29 &#8211; 01;44;39;07]: Beautiful. Yes. Yes. That&#8217;s it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Nicole [01;44;39;09 &#8211; 01;44;40;24]: Love it.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;44;40;27 &#8211; 01;45;01;14]: What&#8217;s going to happen with Drew and Nicole? I actually have no idea. I would say 5050 odds, which is quite rare after I speak to a couple. 50%. They follow what we talked about today. They make a plan, they go back to Maui and they realize, hey, we can come back here in different forms, but maybe we don&#8217;t need to own this house.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;45;01;14 &#8211; 01;45;27;02]: 50% odds. They never get around to making a decision. Life gets in the way. And with a new baby just weeks away, I think it&#8217;s going to be very difficult to follow a strict financial plan, especially for the next few months, because things are going to become a little bit tumultuous. All I hope is that they remember to zoom out and look at the big picture of their rich life at 85% fixed cost.<\/span><\/p>\n<p>\u00a0<\/p>\n<p><span style=\"font-weight: 400;\">Ramit [01;45;27;03 &#8211; 01;45;47;09]: They need to make a decision. In fact, not making a decision is the same as making a decision. So I really hope they get aggressive. They get direct with each other and they decide to potentially sell that place, bank the money and start over on their joint vision of a rich life together. And now let&#8217;s check out their follow ups.<\/span><\/p>\n<p>\u00a0<\/p>\n<\/p><\/div>\n<p> <br \/><a href=\"https:\/\/www.iwillteachyoutoberich.com\/272-we-own-two-houses-but-cant-afford-dinner-out\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\ufeff\ufeff\ufeff\ufeff\ufeff \ufeff\ufeff\ufeff\ufeff Ramit Sethi of I Will Teach You To Be Rich speaks with Nicole and Drew, 39 and 40, who are expecting their first [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":352049,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4557],"tags":[29606,25420,12891,29605,8153,2656,2381,1800,4067,4022],"class_list":["post-353072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketing","tag-consideration-insurance-coverage","tag-drew","tag-identical-web-page","tag-joshua-tree","tag-medical-health-insurance","tag-nicole","tag-ramit","tag-southern-california","tag-taiwan","tag-therapist"],"_links":{"self":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/posts\/353072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/comments?post=353072"}],"version-history":[{"count":2,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/posts\/353072\/revisions"}],"predecessor-version":[{"id":353074,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/posts\/353072\/revisions\/353074"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/media\/352049"}],"wp:attachment":[{"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/media?parent=353072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/categories?post=353072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.etrafficlane.com\/60dollarmiracle\/wp-json\/wp\/v2\/tags?post=353072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}