#214 with Ramit Sethi - Why You Should Have a Diversified Investment Portfolio
My First Million
Shownotes Transcript
In this episode Sam (@theSamParr) and Shaan (@ShaanVP) are joined by Ramit Sethi (@ramit), the founder of I Will Teach You To Be Rich. They start off talking about course businesses and Ramit shares what he's learned running courses for over 15 years. Ramit shares a few ideas for businesses and then the trio talk about different strategies around investing. Shaan shares why his approach is so different from what Ramit recommends, and he breaks down his own asset allocation. At the end Sam & Ramit share their personal money rules.
Follow Ramit on Twitter: https://twitter.com/ramit
Ramit's new podcast: https://iwt.com/podcast
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Show notes:
(1:06) Ramit's new podcast
(5:02) An update on Shaan's Power Writing course
(7:07) Ramit's course business
(11:30) Who is Jay Abraham
(16:43) Should MFM get a new name?
(20:14) How long can Ramit run his empire
(24:11) Ramit on trolls
(27:31) The history of courses
(34:12) Ideas around pets
(37:35) Ideas around cosmetics
(39:54) How Ramit would differentiate a product
(43:47) Ramit's money hacks
(46:00) How Shaan approaches investing
(47:00) A little anecdote about camera issues
(47:58) Back to Shaan's investment approach
(50:47) What game are you playing and what risk can you tolerate?
(53:26) What Shaan's goals are with investing
(57:11) Ramit's 10 money rules
(59:35) Sam's money rules
(1:02:09) Taking out loans on your assets
(1:05:33) How Ramit thinks of risk versus rewards
(1:17:10) Ramit on Sam's engagement ring story
(1:21:04) It's not all about the metrics