{"id":118907,"date":"2024-05-28T11:28:10","date_gmt":"2024-05-28T15:28:10","guid":{"rendered":"https:\/\/www.iwillteachyoutoberich.com\/?p=118907"},"modified":"2026-02-23T15:29:32","modified_gmt":"2026-02-23T19:29:32","slug":"158-adrienne-rob","status":"publish","type":"post","link":"https:\/\/www.iwillteachyoutoberich.com\/158-adrienne-rob\/","title":{"rendered":"Episode 158. \u201cWe have $2M, why can\u2019t we retire?\u201d (Part 2)"},"content":{"rendered":"<p><iframe title=\"\u201cWe have $2M\u2026Why can\u2019t we retire?\u201d\" src=\"https:\/\/www.youtube.com\/embed\/fZSlSnFI0MA\" width=\"100%\" height=\"400\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p><iframe style=\"border-radius: 12px;\" src=\"https:\/\/open.spotify.com\/embed\/episode\/1DLdFNn4qNgRWdBT6xxxTa?utm_source=generator\" width=\"100%\" height=\"352\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>Rob and Adrienne are nearing retirement but worried about having enough. In Part 2, we dig into their Conscious Spending Plan to reveal a massively successful investment strategy that remains shrouded by deep lingering fears, $3 questions, and hard-to-break bad habits with money.<\/p>\n<p><strong>This episode is brought to you by:<\/strong><\/p>\n<p>Rocket Money | Stop throwing your money away. Cancel unwanted subscriptions \u2013 and manage your expenses the easy way \u2013 by going to\u00a0<strong><a href=\"https:\/\/rocketmoney.com\/ramit\">https:\/\/rocketmoney.com\/ramit<\/a><\/strong>.<\/p>\n<p>DeleteMe | If you want to get your personal information removed from the web, go to\u00a0<strong><a href=\"https:\/\/joindeleteme.com\/ramit\">https:\/\/joindeleteme.com\/ramit<\/a><\/strong>\u00a0for 20% off.<\/p>\n<p>Hatch | A million things don\u2019t want you to sleep, Hatch does. Get $20 off a Hatch Restore at\u00a0<strong><a href=\"https:\/\/hatch.co\/ramit\">https:\/\/hatch.co\/ramit<\/a><\/strong>.<\/p>\n<p>Facet | Get affordable, accessible financial planning with a flat fee membership. For a limited time, the $250 enrollment fee will be waived when you sign up at\u00a0<strong><a href=\"https:\/\/facet.com\/ramit\">https:\/\/facet.com\/ramit<\/a><\/strong>.<\/p>\n<p>Superhuman | Get a free month of lightning fast email at\u00a0<strong><a href=\"https:\/\/try.sprh.mn\/ramitsethi\">https:\/\/try.sprh.mn\/ramitsethi<\/a><\/strong>.<\/p>\n<h2><strong>Links mentioned in this episode<\/strong><\/h2>\n<ul>\n<li><a href=\"https:\/\/www.iwillteachyoutoberich.com\/157-adrienne-rob\">\u201cWe spent $80,000 more than we made last year\u201d (Part 1)<\/a><\/li>\n<\/ul>\n<h2><strong>Show Transcript<\/strong><\/h2>\n<p>[00:00:00]\u00a0<strong>Rob:<\/strong>\u00a0I wish I hadn\u2019t blown that money in the \u201990s. I\u2019m hoping it lasts for 30 years.<\/p>\n<p>[00:00:05]\u00a0<strong>Ramit:<\/strong>\u00a0That\u2019s the primary question, right? Will this money last for the rest of our lives?<\/p>\n<p>[00:00:11]\u00a0<strong>Rob:<\/strong>\u00a0The biggest piece is the fear. I just hope that when we have a plan that we know what we can spend on all these trips, that fear will go away, but Ramit, you\u2019re skeptical.<\/p>\n<p>[00:00:23]\u00a0<strong>Ramit:<\/strong>\u00a0Your emotion is not going away from numbers on a spreadsheet. If that was going to happen, it would have happened about a million dollars ago. The only way you actually get to do this and enjoy it is if you learn to manage your fears, Rob. Nothing else matters.<\/p>\n<p>[00:00:41]\u00a0<strong>Rob:<\/strong>\u00a0Adrienne, why do you think we\u2019ve avoided seeing a financial advisor who can answer our retirement questions?<\/p>\n<p>[00:00:49]\u00a0<strong>Adrienne:<\/strong>\u00a0I think because we already know the answers.<\/p>\n<p>[Narration]<\/p>\n<p>[00:00:53]\u00a0<strong>Ramit:<\/strong>\u00a0Welcome to part two of my conversation with Adrienne and Rob. Adrienne\u2019s 59, Rob is 62 years old, and they have one big question. Are we going to have enough? When I talk to people who are in their 50s and beyond, this is the single biggest question that they have.<\/p>\n<p>[00:01:09]\u00a0Like most people, Rob and Adrienne believe their question is about dollars on a spreadsheet. But as we learned last week on part one of this conversation, Rob is incredibly fearful around money even though he and Adrienne have paid off tens of thousands of dollars of debt, and they\u2019ve built a sizable portfolio.<\/p>\n<p>[00:01:29]\u00a0Please note that he\u2019s been worried about running out of money for 15 years, but he has never run a detailed calculation, and he\u2019s never hired a financial advisor. Why? On today\u2019s episode, I wanted to give him specific scenarios for how their life might look depending on their financial choices. I asked our partner, Facet, to run several analyses, taking into account their age, goals, and spending.<\/p>\n<p>[00:01:54]\u00a0If you are looking for specific answers to your own financial scenarios via a financial advisor, especially if you\u2019re considering retirement, or you have a large portfolio, or an especially complex financial situation, go to facet.com\/ramit. And no, they do not charge AUM. Now let\u2019s get to today\u2019s conversation where Rob and Adrienne start off by discussing their vision for a Rich Life. They\u2019ve been living in scarcity for so long that this is really hard for them.<\/p>\n<p>[Interview]<\/p>\n<p>[00:02:25]\u00a0<strong>Adrienne:<\/strong>\u00a0I remember you coming to me recently and saying, oh my gosh, we\u2019re making a lot less money. And I said, it\u2019s okay. We did it. This is what we\u2019ve been doing our whole\u2013 we\u2019ve been saving for this moment when your business was not going to be working.<\/p>\n<p>[00:02:41]\u00a0And so now we\u2019ve got this nest egg. And supposedly, if we only spend 4% of it, it\u2019s going to be okay. So I remember you asking me, and I said, I thought it was going to be okay. I thought this is what we\u2019ve been saving for, this moment.<\/p>\n<p>[00:02:59]\u00a0<strong>Ramit:<\/strong>\u00a0Tell Rob again your vision for a Rich Life.<\/p>\n<p>[00:03:03]\u00a0<strong>Adrienne:<\/strong>\u00a0What my vision is is that we have this one precious life to live, and that we use our hearts to extend our generosity out into the world. And that we are people that create a better world for those around us, through our charity, through our love, and that we also spoil ourselves and create freedom for ourselves and relaxation. And that we feel confident that whatever we spend our money on, that we\u2019re allowed to do that. That creates a Rich Life for me.<\/p>\n<p>[00:03:44]\u00a0<strong>Rob:<\/strong>\u00a0I would say, because you\u2019re leading off with generosity, I can see why my fear would hold us back. I\u2019m down with it because we don\u2019t have to bequeath this money to anybody at the end, and so we can give it away while we\u2019re alive.<\/p>\n<p>[00:04:04]\u00a0Being more relaxed is going to be the key to being able to play ball with you on this. And then as long as I\u2019m worried about this stuff, then I won\u2019t be able to be more generous. Fear just stops me in my tracks around stuff like that.<\/p>\n<p>[00:04:23]\u00a0<strong>Ramit:<\/strong>\u00a0Stay on the generosity. I love where you\u2019re going, Rob. Get deeper into her vision of generosity. What does she mean?<\/p>\n<p>[00:04:31]\u00a0<strong>Rob:<\/strong>\u00a0How do I know what she means? Okay. Do you want to describe to me more about what you were specifically talking about heartfelt generosity?<\/p>\n<p>[00:04:46]\u00a0<strong>Adrienne:<\/strong>\u00a0I would love it if, our niece and nephew\u2019s weddings are coming up, we gave more money than we actually said we were going to previously give to them for our\u2013 I would love to give more money to them for their weddings.<\/p>\n<p>[00:05:04]\u00a0I would love to tip extra when I go out to eat with people. I would love to also\u2013 I don\u2019t know. If I had to dream, like a dream, I would love to create, if I had the money, if this is actually real, to create a scholarship for some people that I know would love to take coaching programs that I love, or to take classes or things like that. I would love to be able to have that kind of generosity in the world. And also really support causes that mean a lot to us, like environmental causes and things like that. And we do give money to charity, but to give a little extra more money to charity.<\/p>\n<p>[00:06:03]\u00a0<strong>Ramit:<\/strong>\u00a0Let me pause you there, Adrienne. I love what you\u2019re saying. You know what I haven\u2019t heard at all? Is any specifics. So you mentioned tipping. I don\u2019t know how much. You mentioned a scholarship. I don\u2019t know how much. Charity, I don\u2019t know how much. If we\u2019re talking about an extra 2% tip, let\u2019s just say it and be done with it because that\u2019s easy. Look at Rob\u2019s face right now. Rob\u2019s like, what the fuck numbers are you talking about? Just tell me the number. I have the calculation open right now.<\/p>\n<p>[00:06:29]\u00a0<strong>Rob:<\/strong>\u00a0Fear was coming up as she was describing all of this stuff.<\/p>\n<p>[00:06:32]\u00a0<strong>Ramit:<\/strong>\u00a0Hold on. Hold on. Hold on. Hold on. Hold on. This is very important. This is amazing. So Adrienne, you\u2019re painting this beautiful vision. I love it. It\u2019s powerful. It\u2019s compelling, and it\u2019s personal. That is a beautiful set of ingredients for a Rich Life.<\/p>\n<p>[00:06:48]\u00a0Rob did a great job. Rob, first you were clouded by fear. It\u2019s like a cloud. That\u2019s what I see. Fear, it\u2019s a cloud, a poisonous gas you can\u2019t see through, and you inhale. Look at me. And the toxin gets into you. It makes you unable to hear. It even makes you unable to see.<\/p>\n<p>[00:07:13]\u00a0It\u2019s a noxious green gas cloud around you. That\u2019s fear. That\u2019s how I see it. But we cleared it away, and you were an excellent listener. So let\u2019s try to ground this a little bit. Let\u2019s start with the tipping. I love tipping. I love people who tip. I hate cheap tippers. What percentage do you have in mind in your Rich Life?<\/p>\n<p>[00:07:34]\u00a0<strong>Adrienne:<\/strong>\u00a0I had 25%.<\/p>\n<p>[00:07:37]\u00a0<strong>Ramit:<\/strong>\u00a0Love it. So do we all agree from now on you\u2019re going to tip 25%? Is that the new rule?<\/p>\n<p>[00:07:45]\u00a0<strong>Rob:<\/strong>\u00a0Yeah.<\/p>\n<p>[00:07:47]\u00a0<strong>Ramit:<\/strong>\u00a0You\u2019re sure? I don\u2019t want to pressure anybody. It\u2019s your money. It\u2019s not mine. Tell me. If you\u2019re worried, this is the time to speak up.<\/p>\n<p>[00:07:53]\u00a0<strong>Rob:<\/strong>\u00a0I\u2019m not worried. This is what I\u2019ve been tipping mostly. So yeah, it\u2019s fine.<\/p>\n<p>[00:07:57]\u00a0<strong>Ramit:<\/strong>\u00a0All right. Adrienne, how do you feel about that?<\/p>\n<p>[00:07:59]\u00a0<strong>Adrienne:<\/strong>\u00a0I feel good about it now that I know that I\u2019m allowed to do it too.<\/p>\n<p>[00:08:05]\u00a0<strong>Ramit:<\/strong>\u00a0Totally. What do you learn from that example, Adrienne, in describing your Rich Life?<\/p>\n<p>[00:08:10]\u00a0<strong>Adrienne:<\/strong>\u00a0I learned that Rob and I don\u2019t ask each other a lot of questions.<\/p>\n<p>[00:08:15]\u00a0<strong>Ramit:<\/strong>\u00a0Correct. You two are not asking each other any questions, so it\u2019s like one person\u2019s just saying something, and then the ball just drops like dead. There\u2019s dead silence here. And what I really want is for the two of you to get curious, like, oh my god, what do you mean by that? Wow. Wait, that\u2019s amazing. Tipping. Why only 25? What if we did 30? How about at Christmas we do 50?<\/p>\n<p>[00:08:38]\u00a0You\u2019re almost one upping each other. You\u2019re asking, are we thinking big enough or like, hmm, I love the idea two trips a year, but how do you see us also being generous with our niece and nephew? I\u2019m begging you to\u2013 it\u2019s like you\u2019re trying to cook a meal. I need you to get your hands in those ingredients and start moving things around. I need this to be tactile.<\/p>\n<p>[Narration]<\/p>\n<p>[00:09:01]\u00a0<strong>Ramit:<\/strong>\u00a0What just happened is really common. In many relationships, you have one person who dreams, and the other who crosses their arms and plays the role of the dream crusher. The dream crusher says things like, what about X? Or, well, I don\u2019t know. Or, well, we might be able to do that, but\u2013 if you watched my Netflix show, How to Get Rich, you saw it with Sarah and Reggie. And thankfully, they were able to shift their role from dreamer and dream crusher to partners.<\/p>\n<p>[00:09:32]\u00a0If you find yourself in this dynamic, it\u2019s so common. I want you to zoom out, zoom way out, and recalibrate your relationship dynamic. Ask your partner, hey, what do you notice about this dynamic? Ask each other what roles you play today, and what roles you would like to play tomorrow. That\u2019s how you recalibrate that dynamic.<\/p>\n<p>[00:09:54]\u00a0We\u2019ll be right back after this short break.<\/p>\n<p>[00:09:57]\u00a0Let\u2019s get back to Adrienne and Rob.<\/p>\n<p>[Interview]<\/p>\n<p>[00:10:00]\u00a0<strong>Ramit:<\/strong>\u00a0Adrienne, why don\u2019t you ask Rob what his Rich Life is, and Rob now has the benefit of going second? So he has heard a lot of the work we\u2019ve put in here, which is great. It\u2019s all an exercise. We\u2019re learning how to talk about this for the first time. So no worries.<\/p>\n<p>[00:10:16]\u00a0<strong>Adrienne:<\/strong>\u00a0Rob, what would you like your Rich Life to be? If you could dream about it, what would it be like?<\/p>\n<p>[00:10:23]\u00a0<strong>Rob:<\/strong>\u00a0I feel really happy about the generosity piece, giving good gifts, and so on. I feel like the relaxed and happy part, for me would entail a lot more massages. Maybe next year\u2019s trips would be fewer, longer, and really cut out some time for the two of us.<\/p>\n<p>[00:10:53]\u00a0What else do I want?\u00a0Relaxed, happy, generous, being able to discuss our finances in a way that reduces the fear would go a long way. Because the thing that\u2019s striking to me is just how much my fear is impacting you. I just hope that when we have a plan, that we know what we can spend on all these trips, that the fear will go away, but Ramit, you\u2019re skeptical.<\/p>\n<p>[00:11:23]\u00a0<strong>Ramit:<\/strong>\u00a0Your emotion is not going away from numbers on a spreadsheet. If that was going to happen, it would have happened about a million dollars ago. I love where you\u2019re going with it, though. What do you think are three or five ways that you might be able to more effectively manage those fears?<\/p>\n<p>[00:11:42]\u00a0<strong>Rob:<\/strong>\u00a0Well, the first thing that comes to mind is that exercise that we did the other day that you walked me through, the 10-minute exercise. Maybe we need a regular practice because that really helped me.<\/p>\n<p>[00:11:58]\u00a0But working together on some of these things, creating more body awareness, and getting me out of my head\u2013 if you can help me get out of my head, I think that would be really helpful. Although I hate to put that on you because it\u2019s a lot to ask for somebody.<\/p>\n<p>[00:12:17]\u00a0<strong>Adrienne:<\/strong>\u00a0Maybe we can do it together. You can do it with me, and I can do it with you.<\/p>\n<p>[00:12:21]\u00a0<strong>Rob:<\/strong>\u00a0Yeah. Sure. How else will I reduce my fear? I think the quarterly money day once we\u2019ve got this plan laid will least let me know that you\u2019re thinking about this stuff. What else here? How to get rid of fear. How to get rid of a lifelong fear.<\/p>\n<p>[00:12:43]\u00a0It\u2019s funny. As much as we talk, we don\u2019t talk about that specifically. We don\u2019t talk about our upbringing. We have talked about it, but not maybe enough or as targeted as maybe it needs to be because I feel like for us to be learning about this stuff on a podcast after we\u2019ve spent 18 years working on this together, it means some things that we\u2019ve not been saying for the 18 years probably we should practice saying somehow, digging deeper into some of this stuff.<\/p>\n<p>[00:13:28]\u00a0<strong>Adrienne:<\/strong>\u00a0So I think I hear you saying that we could have more conversations where we get more curious about each other.<\/p>\n<p>[00:13:36]\u00a0<strong>Ramit:<\/strong>\u00a0What\u2019s the thing you could do to solve fear? You\u2019ve so far given two. I need three.<\/p>\n<p>[00:13:44]\u00a0<strong>Rob:<\/strong>\u00a0Body awareness, money meeting, having a financial plan. I feel like we both don\u2019t know, if what we\u2019re spending is going to be all right.<\/p>\n<p>[00:13:56]\u00a0<strong>Ramit:<\/strong>\u00a0All the stuff you talked about, the spinning, the ignoring childhood issues, not having the tools to communicate effectively with each other, what\u2019s the obvious one here?<\/p>\n<p>[00:14:07]\u00a0<strong>Rob:<\/strong>\u00a0You want me to say counseling?<\/p>\n<p>[00:14:08]\u00a0<strong>Ramit:<\/strong>\u00a0Yeah.<\/p>\n<p>[00:14:09]\u00a0<strong>Rob:<\/strong>\u00a0Counseling? Yeah.<\/p>\n<p>[00:14:11]\u00a0<strong>Ramit:<\/strong>\u00a0I think it\u2019s obvious, but it\u2019s your Rich Life.<\/p>\n<p>[00:14:14]\u00a0<strong>Adrienne:<\/strong>\u00a0This is actually what we\u2019re doing this year.<\/p>\n<p>[00:14:17]\u00a0<strong>Ramit:<\/strong>\u00a0We do have a coach.<\/p>\n<p>[00:14:18]\u00a0<strong>Adrienne:<\/strong>\u00a0That\u2019s what our whole entire year is about.<\/p>\n<p>[00:14:22]\u00a0<strong>Ramit:<\/strong>\u00a0Amazing.<\/p>\n<p>[00:14:23]\u00a0<strong>Adrienne:<\/strong>\u00a0This counseling thing.<\/p>\n<p>[00:14:24]\u00a0<strong>Ramit:<\/strong>\u00a0Wait, how did that\u2013 hold on. Amazing. Great. I love to hear that.<\/p>\n<p>[00:14:27]\u00a0<strong>Adrienne:<\/strong>\u00a0Yeah.<\/p>\n<p>[00:14:28]\u00a0<strong>Ramit:<\/strong>\u00a0It\u2019s not that I\u2019m like shealing for therapists or whatever.<\/p>\n<p>[00:14:31]\u00a0<strong>Adrienne:<\/strong>\u00a0No, no. Absolutely.<\/p>\n<p>[00:14:33]\u00a0<strong>Ramit:<\/strong>\u00a0Can you tell me this whole, like it\u2019s this year of counseling? What is that about? That\u2019s so cool.<\/p>\n<p>[00:14:38]\u00a0<strong>Adrienne:<\/strong>\u00a0Well, we hired a coach actually, who\u2019s really cool, someone from our community. And then we just decided to commit to this. It\u2019s an emotional program that\u2019s on Zoom. It happens every other Tuesday, where we get together with a whole entire community of people, and we talk about different issues. And then we also have private counseling as well on Zoom.<\/p>\n<p>[00:15:10]\u00a0So that\u2019s what this year was dedicated to. I was a little bit surprised when Rob said that we weren\u2019t doing anything that he wanted to do this year because I feel like we\u2019re doing a lot together that I thought we both decided on together.<\/p>\n<p>[00:15:29]\u00a0<strong>Rob:<\/strong>\u00a0Yeah.<\/p>\n<p>[00:15:30]\u00a0<strong>Ramit:<\/strong>\u00a0That\u2019s because in your relationship, the numbers eclipse everything else. You could go on an amazing vacation and all you remember about it are the numbers. You can be doing all these amazing things, but the only true central focus in your relationship as it relates to your Rich Life is the numbers.<\/p>\n<p>[00:15:50]\u00a0And that will not change no matter how much money you have. Your money\u2019s going to double. You know the math. Rule of 72. It\u2019s going to double. It will not change until you tackle the actual symptoms. I\u2019m glad you\u2019re doing this coaching class. I think that\u2019s amazing.<\/p>\n<p>[00:16:06]\u00a0<strong>Adrienne:<\/strong>\u00a0The rule of 72, though, does that apply even if you\u2019re not putting money into the market?<\/p>\n<p>[00:16:12]\u00a0<strong>Ramit:<\/strong>\u00a0Totally irrelevant to a more important point.<\/p>\n<p>[Narration]<\/p>\n<p>[00:16:17]\u00a0<strong>Ramit:<\/strong>\u00a0Even when people are on the cusp of making a breakthrough, they will unconsciously fight to go right back to where they feel comfortable. Nobody turns on a dime and makes massive lifestyle changes overnight. It\u2019s two steps forward, one step back. That\u2019s normal. I want to say I wish they saw a therapist instead of a random coach, but I\u2019m still glad that they are doing this.<\/p>\n<p>[Interview]<\/p>\n<p>[00:16:42]\u00a0<strong>Ramit:<\/strong>\u00a0You\u2019re proving my point, which is that in your relationship, numbers eclipse everything else. Do you see what I mean? And it\u2019s hard. It\u2019s easier to ruminate and spin, but it\u2019s hard to be like, what\u2019s actually going on in here?<\/p>\n<p>[00:16:59]\u00a0I love that you\u2019re starting to tackle it, but in my opinion, of all the stuff you talked about, relaxing, using your heart, helping the planet, getting to have fun and relax, massages, trips, the only way you actually get to do this and enjoy it is if you learn to manage your fears, Rob. Nothing else matters.<\/p>\n<p>[00:17:22]\u00a0<strong>Rob:<\/strong>\u00a0Part of it is a lack of vision, and part of it is fear. I feel like the fear is almost like the fog you\u2019re talking about. It\u2019s a general fear. I don\u2019t know if I have a specific\u2013<\/p>\n<p>[00:17:34]\u00a0<strong>Ramit:<\/strong>\u00a0I guess what I\u2019m saying is, Rob, we can see that this is costing you a lot. It\u2019s costing you trips. Most importantly, your fear is costing you the ability to connect with Adrienne over a Rich Life vision, one that you\u2019ve both worked incredibly hard for.<\/p>\n<p>[00:17:49]\u00a0I\u2019m a little surprised that you\u2019re not attacking these fears with overwhelming force. It is the number one thing to do, the. If it were me and it was like, should I keep tracking my yellow pages and my apps and logging it? I\u2019ll be like, stop doing all of that, and instead focus two hours a day on this.<\/p>\n<p>[00:18:13]\u00a0<strong>Adrienne:<\/strong>\u00a0I do think that this coaching program is going to help a lot this year because that\u2019s the number one thing that she said to us, was presence.<\/p>\n<p>[00:18:24]\u00a0<strong>Ramit:<\/strong>\u00a0Great.<\/p>\n<p>[00:18:25]\u00a0<strong>Adrienne:<\/strong>\u00a0That was the first thing that came up for us, is to be working on that as well.<\/p>\n<p>[00:18:31]\u00a0<strong>Ramit:<\/strong>\u00a0How did you decide how much you\u2019re going to spend on this coach, by the way?<\/p>\n<p>[00:18:40]\u00a0<strong>Adrienne:<\/strong>\u00a0We talked about it together.<\/p>\n<p>[00:18:45]\u00a0<strong>Rob:<\/strong>\u00a0I was going to say it\u2019s 30 grand for the year, but you don\u2019t care about the number.<\/p>\n<p>[00:18:52]\u00a0<strong>Ramit:<\/strong>\u00a0Oh, in this case I do. 30 grand. All right.<\/p>\n<p>[00:18:55]\u00a0<strong>Rob:<\/strong>\u00a0Yeah.<\/p>\n<p>[00:18:56]\u00a0<strong>Ramit:<\/strong>\u00a0Listen, if it helps you together connect, it\u2019ll be the best 30 grand you ever spent.<\/p>\n<p>[00:19:04]\u00a0<strong>Adrienne:<\/strong>\u00a0It\u2019s already been amazing, honestly.<\/p>\n<p>[00:19:07]\u00a0<strong>Ramit:<\/strong>\u00a0Awesome.<\/p>\n<p>[Narration]<\/p>\n<p>[00:19:08]\u00a0<strong>Ramit:<\/strong>\u00a0We\u2019ll open up their Conscious Spending Plan right after this.<\/p>\n<p>[00:19:12]\u00a0Let\u2019s talk numbers. I\u2019m going to go through their CSP, and if you want to follow along, you can download your own template of the Conscious Spending Plan completely free at iwt.com\/csp.<\/p>\n<p>[Interview]<\/p>\n<p>[00:19:24]\u00a0<strong>Ramit:<\/strong>\u00a0Do you mind if we go ahead and look at your numbers?<\/p>\n<p>[00:19:30]\u00a0<strong>Adrienne:<\/strong>\u00a0Sure.<\/p>\n<p>[00:19:32]\u00a0<strong>Ramit:<\/strong>\u00a0All right.<\/p>\n<p>[00:19:33]\u00a0<strong>Rob:<\/strong>\u00a0I\u2019m excited to look at the numbers.<\/p>\n<p>[00:19:35]\u00a0<strong>Ramit:<\/strong>\u00a0Rob\u2019s like enough feelings. Take me to the CSP, the promised land. All right. So what was it like to do the CSP together?<\/p>\n<p>[00:19:50]\u00a0<strong>Rob:<\/strong>\u00a0Did we do it together? Did I show you it?<\/p>\n<p>[00:19:52]\u00a0<strong>Adrienne:<\/strong>\u00a0Here it is.<\/p>\n<p>[00:19:53]\u00a0<strong>Ramit:<\/strong>\u00a0Oh. You literally gave her a printout and you said, here you go. So you prepared it, Rob, and then you showed it to Adrienne for her approval, which Adrienne, you approved all of it, correct?<\/p>\n<p>[00:20:05]\u00a0<strong>Adrienne:<\/strong>\u00a0Sure.<\/p>\n<p>[00:20:06]\u00a0<strong>Ramit:<\/strong>\u00a0All right. So you guys didn\u2019t really do it together. All right, fine.<\/p>\n<p>[00:20:09]\u00a0<strong>Adrienne:<\/strong>\u00a0We didn\u2019t.<\/p>\n<p>[00:20:12]\u00a0<strong>Ramit:<\/strong>\u00a0Y\u2019all know what the instruction said, right? Do it together. Why do you think you didn\u2019t do it together?<\/p>\n<p>[00:20:17]\u00a0<strong>Rob:<\/strong>\u00a0Because I\u2019m not a rule follower. I don\u2019t know.<\/p>\n<p>[00:20:20]\u00a0<strong>Ramit:<\/strong>\u00a0That\u2019s not a good answer.<\/p>\n<p>[Narration]<\/p>\n<p>[00:20:22]\u00a0<strong>Ramit:<\/strong>\u00a0But there\u2019s no point getting into it right now. Just know that half of the value of the CSP, for me at least, is in seeing how couples do it together, or if they do it separately as Rob and Adrienne did, which actually explains so much. Back to their numbers, and please remember, she\u2019s 59 years old, and he is 62.<\/p>\n<p>[Interview]<\/p>\n<p>[00:20:42]\u00a0<strong>Adrienne:<\/strong>\u00a0Assets, 34,000. Investments, 1,896,754.<\/p>\n<p>[00:20:56]\u00a0<strong>Ramit:<\/strong>\u00a0Okay, 1,896,754. All right. Next.<\/p>\n<p>[00:21:00]\u00a0<strong>Adrienne:<\/strong>\u00a0Savings, 58,788.<\/p>\n<p>[00:21:05]\u00a0<strong>Rob:<\/strong>\u00a0Okay, next.<\/p>\n<p>[00:21:06]\u00a0<strong>Adrienne:<\/strong>\u00a0Debt, 0.<\/p>\n<p>[00:21:08]\u00a0<strong>Rob:<\/strong>\u00a0Great. Total net worth?<\/p>\n<p>[00:21:11]\u00a0<strong>Adrienne:<\/strong>\u00a0Yeah, 1,989,542.<\/p>\n<p>[00:21:19]\u00a0<strong>Ramit:<\/strong>\u00a0Nice. All right. So just under 2-million-dollar net worth. What do you think about that?<\/p>\n<p>[00:21:26]\u00a0<strong>Rob:<\/strong>\u00a0I think it\u2019s good.<\/p>\n<p>[00:21:27]\u00a0<strong>Ramit:<\/strong>\u00a0Mm-hmm. Cool. Rob, what do you think?<\/p>\n<p>[00:21:32]\u00a0<strong>Rob:<\/strong>\u00a0I think it\u2019s great, and I\u2019m hoping it lasts for 30 years.<\/p>\n<p>[00:21:37]\u00a0<strong>Ramit:<\/strong>\u00a0That\u2019s the primary question. Will this money last for the rest of our lives?<\/p>\n<p>[00:21:42]\u00a0<strong>Rob:<\/strong>\u00a0Yeah.<\/p>\n<p>[00:21:44]\u00a0<strong>Ramit:<\/strong>\u00a0And y\u2019all thought if we come on the show, we\u2019ll get Ramit Sethi to give us an answer. Yes or no. And then once we know, we\u2019ll hopefully feel better, right?<\/p>\n<p>[00:21:55]\u00a0<strong>Rob:<\/strong>\u00a0Yes.<\/p>\n<p>[00:21:56]\u00a0<strong>Ramit:<\/strong>\u00a0Okay. Do you still believe that? That\u2019s the actual question that you need help with.<\/p>\n<p>[00:22:05]\u00a0<strong>Rob:<\/strong>\u00a0I think that\u2019s one small piece of what we need help with.<\/p>\n<p>[00:22:08]\u00a0<strong>Ramit:<\/strong>\u00a0If that were the question keeping you up at night, there are plenty of ways to get that question answered. Right? You didn\u2019t have to wait to talk to me. What would be some of the other ways to get that question answered?<\/p>\n<p>[00:22:20]\u00a0<strong>Adrienne:<\/strong>\u00a0Rob went on to the Bogleheads. Is it Bogleheads?<\/p>\n<p>[00:22:25]\u00a0<strong>Ramit:<\/strong>\u00a0Yes.<\/p>\n<p>[00:22:27]\u00a0<strong>Adrienne:<\/strong>\u00a0And asked that question, and they said, yeah, it should work out.<\/p>\n<p>[00:22:31]\u00a0<strong>Ramit:<\/strong>\u00a0All right. So?<\/p>\n<p>[00:22:34]\u00a0<strong>Rob:<\/strong>\u00a0I\u2019ve read a ton of financial blogs that talk about the 4% rule.<\/p>\n<p>[00:22:39]\u00a0<strong>Ramit:<\/strong>\u00a0Why are you guys not spending money on solving your problems? I\u2019m really confused. This is a money problem. It\u2019s a math problem. It\u2019s like, let me pay someone to model this out for me. Just tell me the answer and tell me the variables. That\u2019s it. This is a classic financial advisor problem. And you almost never hear me saying like, get a financial advisor, but like, this is the clearest use of a financial advisor ever.<\/p>\n<p>[00:23:08]\u00a0<strong>Rob:<\/strong>\u00a0Because we live in the middle of nowhere and don\u2019t have a financial advisor nearby, for one. That\u2019s a bad answer.<\/p>\n<p>[00:23:15]\u00a0<strong>Adrienne:<\/strong>\u00a0That\u2019s bullshit because we\u2019ve got Zoom.<\/p>\n<p>[00:23:17]\u00a0<strong>Ramit:<\/strong>\u00a0Thank you. You don\u2019t even know where I am right now. What else? What is it really? Why are you posting on forums and not getting a financial advisor? Why?<\/p>\n<p>[00:23:28]\u00a0<strong>Rob:<\/strong>\u00a0To try to save money because I\u2019m scared to spend the money.<\/p>\n<p>[00:23:33]\u00a0<strong>Ramit:<\/strong>\u00a0Is that it?<\/p>\n<p>[00:23:35]\u00a0<strong>Rob:<\/strong>\u00a0I don\u2019t know why we haven\u2019t done that. We almost did it once, paid somebody an hourly to take a look at our numbers. This was when we still had the house, probably five, six years ago. We\u2019re at a different place now, and it probably would be more beneficial now than back then.<\/p>\n<p>[00:23:52]\u00a0We\u2019re, on some level, paying somebody an hourly to take a look at our numbers and project out what we\u2019re going to have in retirement and so on. It would be useful on some level now, and I don\u2019t know why we haven\u2019t done it. I don\u2019t have a good answer.<\/p>\n<p>[Narration]<\/p>\n<p>[00:24:06]\u00a0<strong>Ramit:<\/strong>\u00a0Here we have a couple with literally millions of dollars. He\u2019s worried about money for the last 57 years, and he\u2019s agonized over his business for the last 15. His number one worry is, will we have enough? And yet, he has not spent a single dollar trying to answer the question. This is what I mean when I say that the way you feel about money is highly uncorrelated with the amount in your bank.<\/p>\n<p>[00:24:35]\u00a0Guys, this is a problem. This is what happens when you read too many FIRE blogs and go way too deep into the world of frugality. You can\u2019t even imagine using your money to make your life better because you\u2019ve only been taught to play small, to save, to cut back, to do it yourself.<\/p>\n<p>[00:24:55]\u00a0This is a problem that could be solved in like weeks. And if you have millions of dollars, the amount you spend to get this answered will literally be replaced by interest within a single month. The point of this podcast is to help you understand how complex our relationship with money can be. And Rob and Adrienne are making my case for me.<\/p>\n<p>[00:25:16]\u00a0You can have millions of dollars, but if you don\u2019t look beneath the surface and ask the tougher questions, what\u2019s all this money for? What stories do I believe? What is our Rich Life? And how can we use our money to start living it? You will forever be stuck.<\/p>\n<p>[00:25:32]\u00a0We\u2019ll return to the story after these messages.<\/p>\n<p>[00:25:35]\u00a0Back to the conversation now where I press them on why they haven\u2019t taken action yet.<\/p>\n<p>[Interview]<\/p>\n<p>[00:25:42]\u00a0<strong>Ramit:<\/strong>\u00a015 plus years, you\u2019ve been on this journey. You\u2019ve accomplished a lot. You have $2 million of net worth. Most of it liquid. It\u2019s very impressive. You have a question that has been plaguing you. I use that word intentionally. It\u2019s not a question that\u2019s just been on the back burner. It\u2019s a word that has plagued you. You ruminate. You worry. You agonize.<\/p>\n<p>[00:26:06]\u00a0It\u2019s caused odd fights. This has been almost 20 years, and you have an easy solution. You could knock this out by Friday. You could have had this answered at any point. It would have cost you less than 5, 000 bucks, which you make an interest. Why? Why have you not done it?<\/p>\n<p>[00:26:29]\u00a0<strong>Rob:<\/strong>\u00a0I don\u2019t have a good answer. You think my fear is stopping me from looking at this?<\/p>\n<p>[00:26:39]\u00a0<strong>Ramit:<\/strong>\u00a0I don\u2019t know. If you don\u2019t know the answer to something, how might you find the answer to it? Is there anyone else on the internet we might be able to ask?<\/p>\n<p>[00:26:53]\u00a0<strong>Rob:<\/strong>\u00a0Okay. All right. Adrienne, you tell me, why haven\u2019t we done this?<\/p>\n<p>[00:26:58]\u00a0<strong>Ramit:<\/strong>\u00a0Ask her again, but ask her in a way that actually invites her answer. I want you to really lean into this.<\/p>\n<p>[00:27:05]\u00a0<strong>Rob:<\/strong>\u00a0Okay. Adrienne, why do you think we\u2019ve avoided seeing a financial advisor who can answer our retirement questions?<\/p>\n<p>[00:27:14]\u00a0<strong>Adrienne:<\/strong>\u00a0I think because we already know the answers. We\u2019ve been studying it for so long that I feel like we probably know what they would say. I\u2019d be open to it. I think it\u2019s a good idea, actually. I don\u2019t know why we haven\u2019t done it either, actually. It\u2019s a really good question. But I think also, there\u2019s just a level of trust around who to trust.<\/p>\n<p>[00:27:44]\u00a0<strong>Ramit:<\/strong>\u00a0How can you talk about trust when you haven\u2019t talked to five financial advisors and interviewed them?<\/p>\n<p>[00:27:48]\u00a0<strong>Adrienne:<\/strong>\u00a0Right. Exactly.<\/p>\n<p>[00:27:51]\u00a0<strong>Ramit:<\/strong>\u00a0So you haven\u2019t even gotten to the trust part of it yet.<\/p>\n<p>[00:27:53]\u00a0<strong>Adrienne:<\/strong>\u00a0Yeah. I guess I just watched other financial advisors I thought seemed like bullshit, honestly.<\/p>\n<p>[00:28:07]\u00a0<strong>Ramit:<\/strong>\u00a0Hey, me too. They gave you some report. They go, oh, that\u2019ll be 1.15% AUM. It\u2019s like, fuck you. Why? I don\u2019t need to pay that much for that.<\/p>\n<p>[00:28:18]\u00a0<strong>Adrienne:<\/strong>\u00a0Exactly.<\/p>\n<p>[00:28:19]\u00a0<strong>Ramit:<\/strong>\u00a0However, I have seen a financial advisor myself. Did you know that? Yeah, Mr. Don\u2019t-pay-AUM. And most people don\u2019t need a financial advisor, which I believe. I myself have hired a financial advisor. I paid him hourly. He charged a very healthy rate. I was happy to pay it.<\/p>\n<p>[00:28:38]\u00a0I said to him, I know this investing stuff. I know this personal finance stuff, but I want a second set of eyes on my asset allocation to make sure I haven\u2019t missed something. Here are my key questions. Come back. Let me know what you find. And he did find some stuff. He said, overall, great. A couple of things. Consider this. Wow. What did I do differently than what you have been doing?<\/p>\n<p>[00:29:06]\u00a0<strong>Adrienne:<\/strong>\u00a0What you did brilliantly is be a student and ask for advice.<\/p>\n<p>[00:29:12]\u00a0<strong>Ramit:<\/strong>\u00a0Yes. Even a guy who has written a bestselling book about money had to be humble enough to realize there are things I don\u2019t know. Totally agree. What else? Rob?<\/p>\n<p>[00:29:24]\u00a0<strong>Rob:<\/strong>\u00a0You took action.<\/p>\n<p>[00:29:25]\u00a0<strong>Ramit:<\/strong>\u00a0Yes.<\/p>\n<p>[00:29:26]\u00a0<strong>Rob:<\/strong>\u00a0Why haven\u2019t we done it? That\u2019s the question. Inertia. Fear of what they might say, that if they start recommending things, we don\u2019t want to do.<\/p>\n<p>[00:29:38]\u00a0<strong>Ramit:<\/strong>\u00a0Did you avoid going to the doctor?<\/p>\n<p>[00:29:42]\u00a0<strong>Rob:<\/strong>\u00a0Not anymore. I used to.<\/p>\n<p>[00:29:44]\u00a0<strong>Ramit:<\/strong>\u00a0I heard that. Look at Adrienne\u2019s face. Amazing. Fucking amazing. Amazing. Rob, stop doing that. I noticed that. Every time I ask you, you go, well, I used to, but now I\u2019m better. Stop benchmarking yourself.<\/p>\n<p>[00:29:57]\u00a0<strong>Rob:<\/strong>\u00a0I just went to the heart doctor last month. I\u2019m going to the general physician.<\/p>\n<p>[00:30:01]\u00a0<strong>Ramit:<\/strong>\u00a0He goes, I went to the heart doctor because I had a heart attack. Look how great I am. I went to the heart doctor. Only on this show do we laugh about someone having a heart attack. Rob, you didn\u2019t have a heart attack, right?<\/p>\n<p>[00:30:15]\u00a0<strong>Rob:<\/strong>\u00a0No, not at all.<\/p>\n<p>[00:30:16]\u00a0<strong>Ramit:<\/strong>\u00a0Thank God, because if so, that was going to make me look really, really bad.<\/p>\n<p>[00:30:19]\u00a0<strong>Rob:<\/strong>\u00a0A bad joke. Yeah, sure.<\/p>\n<p>[00:30:21]\u00a0<strong>Ramit:<\/strong>\u00a0Yeah, that would be bad. Okay, I\u2019m glad you went to the heart doctor. Adrienne\u2019s face tells me\u2013 Adrienne, do you want to care to comment?<\/p>\n<p>[00:30:29]\u00a0<strong>Adrienne:<\/strong>\u00a0It\u2019s his choice.<\/p>\n<p>[00:30:31]\u00a0<strong>Ramit:<\/strong>\u00a0Great answer. That says everything we need to know. You know what I\u2019m getting at here? A lot of men in particular, they don\u2019t go to see the doctor. They\u2019re always putting the shit off. I thought it was a funny sitcom joke, and I realized\u2013 I started talking to them. I started looking into it. There\u2019s a lot of fear.<\/p>\n<p>[00:30:49]\u00a0What if the doctor tells me that I actually haven\u2019t been doing things right, that actually I\u2019m sick, that actually I\u2019ve got 10 cavities, whatever. Rob, you\u2019ve used the word fear a lot today, which I appreciate you being candid about. It clearly is a major issue.<\/p>\n<p>[00:31:04]\u00a0The fear that a financial advisor might tell you, you haven\u2019t been doing it right all along, that\u2019s legit. That\u2019s the same as a lot of people saying, I don\u2019t want to hear what my doctor has to tell me. That\u2019s why I asked the question and why I\u2019m amused at Adrienne\u2019s response.<\/p>\n<p>[00:31:21]\u00a0I\u2019m glad you\u2019re going to see the doctor. That\u2019s awesome. I also want to point out that the major difference between what I did and what you did is I took decisive action. That really is my wish for you, is you could spend literally the rest of your life ruminating and worrying.<\/p>\n<p>[00:31:42]\u00a0Half-joked Rob, but it wasn\u2019t really a joke that you\u2019ve been worrying about money for 57 years. You don\u2019t have 57 more years. I don\u2019t want you to have to worry. Money is not something that has to worry you. You have $2 million, and yet, for something as simple as spending $3,000 to $5,000 to get a definitive answer on the one thing that has been plaguing you, neither of you were decisive enough to do it for the last 15 years.<\/p>\n<p>[00:32:15]\u00a0If it were me, if I was 59, 62 years old, I would be in a fucking rush to live my Rich Life, especially because as you know, life isn\u2019t linear. When it goes bad towards the end, it goes bad fast. And that\u2019s it. So I\u2019m in a big rush if I\u2019m you.<\/p>\n<p>[00:32:35]\u00a0<strong>Rob:<\/strong>\u00a0I see the finiteness of life. And liken it to a basketball game, we\u2019re in the fourth quarter now.<\/p>\n<p>[Narration]<\/p>\n<p>[00:32:46]\u00a0<strong>Ramit:<\/strong>\u00a0The real problem is not the numbers. It goes far deeper than that. But even though that\u2019s still true, they want numbers. So I\u2019m going to give them numbers, and I\u2019m going to give them some very eye-opening scenarios. I went to our partner Facet, and I asked their advisors to run three scenarios for Rob and Adrienne.<\/p>\n<p>[00:33:03]\u00a0We provided a bunch of information, including their CSP, portfolio, insurance, and on and son. And then my team took that report, and we worked with facet to tailor these scenarios to Rob and Adrienne\u2019s life. For example, we know that they want to be more generous. We know that Rob wants to cut back at work.<\/p>\n<p>[00:33:21]\u00a0And we incorporated all of these things to give them very specific options that fit them like a glove. If you are looking for personalized help from financial advisors who do not charge AUM, check out facet.com\/ramit.<\/p>\n<p>[Interview]<\/p>\n<p>[00:33:37]\u00a0<strong>Ramit:<\/strong>\u00a0Now your CSP has something very interesting about it, which is your income has gone down, because Rob, you cut back on hours at your company, so your income has gone\u2013 taken quite a hit, correct?<\/p>\n<p>[00:33:54]\u00a0<strong>Rob:<\/strong>\u00a0Yes, I didn\u2019t fight it. So as it slowed down, I just let it do its thing. I decided that trying to pump it back up, was not, and this is sort of one of the luxuries of being in our situation, that I didn\u2019t want to spend my 60s fighting to make every last buck.<\/p>\n<p>[00:34:12]\u00a0<strong>Ramit:<\/strong>\u00a0Cool. I like that. All right. And Adrienne, you are not earning money. I believe you are in a class right now. Is that correct? Coaching program?<\/p>\n<p>[00:34:21]\u00a0<strong>Adrienne:<\/strong>\u00a0Well, I actually finished the coaching program two years ago. I had one year of being a coach last year, and I made not too much. So I\u2019m beginning my second year of being a coach.<\/p>\n<p>[00:34:36]\u00a0<strong>Ramit:<\/strong>\u00a0Not earning yet. Do you anticipate you will earn at some point?<\/p>\n<p>[00:34:40]\u00a0<strong>Adrienne:<\/strong>\u00a0I don\u2019t know. I\u2019ve been struggling. Marketing is really challenging to me.<\/p>\n<p>[00:34:46]\u00a0<strong>Ramit:<\/strong>\u00a0All right. So your gross monthly income is $4,506. You put a note here, this is income from Rob working part time in his business. You drew $70,000 from your 2 million in investments, and you\u2019ve been using that to cover your monthly living expenses through the year, right?<\/p>\n<p>[00:35:11]\u00a0<strong>Rob:<\/strong>\u00a0Right.<\/p>\n<p>[00:35:12]\u00a0<strong>Ramit:<\/strong>\u00a0All right. So you withdrew part of your investments. So you\u2019re making about 54,000 a year gross, about 45, 000 net. Your fixed costs are 124%, but again, the CSP breaks under certain conditions. Just to highlight a couple of things, you\u2019re renting because you sold your house.<\/p>\n<p>[00:35:36]\u00a0Your rent is 2,550 per month. That\u2019s $2,550 a month. That\u2019s 62% of your gross income. These numbers don\u2019t make any sense if we were using a typical CSP analysis. That\u2019s why I was so excited to get a chance to talk to you. And just so we know, you have about 60k in savings. All right, fine. And then it appears you have $2,500 a month for guilt-free spending. Is that getting spent?<\/p>\n<p>[00:36:04]\u00a0<strong>Rob:<\/strong>\u00a0Yes.<\/p>\n<p>[00:36:04]\u00a0<strong>Adrienne:<\/strong>\u00a0Absolutely. Yeah.<\/p>\n<p>[00:36:05]\u00a0<strong>Rob:<\/strong>\u00a0Absolutely. Yeah. This year we have 10 trips planned. Eight of them are flights, two of them are car trips, hotels, weddings, all kinds of stuff. It\u2019s about $30,000. And I went backwards. I budgeted the $30,000 for the 10 trips, and we then made it into a monthly number.<\/p>\n<p>[00:36:25]\u00a0<strong>Ramit:<\/strong>\u00a0First of all, very impressive. That\u2019s awesome. Love it. Are you excited about the trips?<\/p>\n<p>[00:36:31]\u00a0<strong>Adrienne:<\/strong>\u00a0Mm-hmm.<\/p>\n<p>[00:36:32]\u00a0<strong>Rob:<\/strong>\u00a0Some of them.<\/p>\n<p>[00:36:36]\u00a0<strong>Ramit:<\/strong>\u00a0That\u2019s a good answer. If you want my feedback, I\u2019ll give it to you. It\u2019s short. I\u2019m certainly going to talk to you about the retirement question. That is the primary question I know you want. But in terms of your expenses, the groceries are pretty expensive. You probably have several hundred dollars you could cut if you really needed to there.<\/p>\n<p>[00:36:55]\u00a0The question might be if we cut our groceries by let\u2019s just say 500 to $1,000 a month, whatever the number is, where would we redirect that money? Overall, that\u2019s the only real feedback I have. You have no debt. You rent. Your savings are solid relative to your fixed costs. And your investment is 2 million bucks, which is really the primary area that we need to focus now. Any questions?<\/p>\n<p>[00:37:24]\u00a0<strong>Rob:<\/strong>\u00a0No.<\/p>\n<p>[00:37:25]\u00a0<strong>Ramit:<\/strong>\u00a0Well, I spoke to the advisors at Facet. So Facet is our partner. They\u2019re the ones who do financial planning. They charge a flat fee. They don\u2019t charge AUM. And I\u2019m very selective about who I work with. So I went to them. I said, I would like you to take a look in detail at Rob and Adrienne\u2019s numbers. Take into account their age. Take into account a variety of different factors, such as Social Security, and run the analysis.<\/p>\n<p>[00:37:57]\u00a0Tell me, can they have enough money? So we actually went back and forth, and we created a few scenarios I would like to run past you. Keep in mind, for these scenarios, any good advisor is going to make assumptions. Assumptions could be right or wrong. Typically, they\u2019re going to assume you live longer than you actually will because you don\u2019t want to be like 98 years old and running out of money.<\/p>\n<p>[00:38:24]\u00a0That\u2019s a big financial planning no, no. So they\u2019re going to make assumptions on that. They\u2019re going to make assumptions on when you withdraw Social Security and a variety of other things. Could be right. Could be wrong, but typically, they\u2019re good places to start. Shall I walk you through what, Facet found?<\/p>\n<p>[00:38:44]\u00a0<strong>Rob:<\/strong>\u00a0Please.<\/p>\n<p>[00:38:45]\u00a0<strong>Ramit:<\/strong>\u00a0All right. So first off, I\u2019ve got a scenario for you. You told us, Rob, that you could retire this year if you wanted to. You could just stop working. Let\u2019s see what would happen with your numbers. Let\u2019s take a look. In this scenario, Scenario 1, where you retire right now, let\u2019s see how it plays out.<\/p>\n<p>[Narration]<\/p>\n<p>[00:39:14]\u00a0<strong>Ramit:<\/strong>\u00a0If you\u2019re listening to this episode, I would encourage you to watch this part on YouTube so you can see the graphics and the details. You can just go to YouTube and search for Ramit Sethi and then click follow to subscribe to my channel while you\u2019re there.<\/p>\n<p>[Interview]<\/p>\n<p>[00:39:27]\u00a0<strong>Ramit:<\/strong>\u00a0Assuming you stop working this year, you keep your expenses where they are, at 4,900 a month, no wiggle room. You continue to travel for coaching retreats, etc. $30,000 a year, and you live until 95. We\u2019re assuming that because you\u2019re in good health. And again, you don\u2019t want to run out of money before you die. What do you notice on screen, Rob?<\/p>\n<p>[00:39:57]\u00a0<strong>Rob:<\/strong>\u00a0When I\u2019m 90 years old, I\u2019m still going to have $1.2 million.<\/p>\n<p>[00:40:01]\u00a0<strong>Ramit:<\/strong>\u00a0Mm-hmm.<\/p>\n<p>[00:40:02]\u00a0<strong>Adrienne:<\/strong>\u00a0I noticed that I don\u2019t understand this one.<\/p>\n<p>[00:40:05]\u00a0<strong>Ramit:<\/strong>\u00a0Okay. Tell you what, that\u2019s fair enough. I appreciate you saying that. Why don\u2019t you talk it out? Talk it out loud. Let\u2019s see if you could make sense of it, but go ahead and talk it out.<\/p>\n<p>[00:40:13]\u00a0<strong>Adrienne:<\/strong>\u00a0Okay. Let me put my glasses on.<\/p>\n<p>[00:40:15]\u00a0<strong>Ramit:<\/strong>\u00a0Sure, sure, sure. What\u2019s that little red dot you see?<\/p>\n<p>[00:40:18]\u00a0<strong>Adrienne:<\/strong>\u00a0That\u2019s the amount of money that we have.<\/p>\n<p>[00:40:23]\u00a0<strong>Ramit:<\/strong>\u00a0Yeah. That\u2019s today. That\u2019s how much you have.<\/p>\n<p>[00:40:24]\u00a0<strong>Adrienne:<\/strong>\u00a0Today. Yeah. And then at 67 and 70, we would have 1.7, and at 77 and 80, we would have 1.5.<\/p>\n<p>[00:40:38]\u00a0<strong>Ramit:<\/strong>\u00a01.5 million. Just so we\u2019re specific.<\/p>\n<p>[00:40:40]\u00a0<strong>Adrienne:<\/strong>\u00a0Yeah. 87 and 90, we would have 1.2 million, and at 94 and 97, we would have a negative 114,000.<\/p>\n<p>[00:40:53]\u00a0<strong>Ramit:<\/strong>\u00a0So what does this tell you?<\/p>\n<p>[00:40:55]\u00a0<strong>Adrienne:<\/strong>\u00a0We\u2019re in pretty good shape unless we live to 97.<\/p>\n<p>[00:40:58]\u00a0<strong>Ramit:<\/strong>\u00a0Yeah. That\u2019s exactly what it tells you. That\u2019s exactly right. So actually, I think you can understand this chart. I think you\u2019re pretty savvy. You read it exactly right. Let me tell you a couple of details here. If the market continues performing the way it has, Adrienne, when you die in this assumption at 94, which is quite a long life, you would have negative $114,000. If the market does not do well, you could run out of money as early as age 82 and 85.<\/p>\n<p>[00:41:35]\u00a0<strong>Adrienne:<\/strong>\u00a0Okay.<\/p>\n<p>[00:41:36]\u00a0<strong>Ramit:<\/strong>\u00a0You would be able to leave nothing to your nieces or nephews. You would have no flexibility on expenses. What you spend is what you spend no extra flexibility, no extra days on vacation, things like that. Overall, it\u2019s fairly risky, but it could work.<\/p>\n<p>[00:42:00]\u00a0<strong>Adrienne:<\/strong>\u00a0Okay. So this is the scenario if Rob quits his job today.<\/p>\n<p>[00:42:05]\u00a0<strong>Rob:<\/strong>\u00a0Yeah.<\/p>\n<p>[00:42:06]\u00a0<strong>Adrienne:<\/strong>\u00a0Okay. I think it\u2019s a little tight.<\/p>\n<p>[00:42:13]\u00a0<strong>Rob:<\/strong>\u00a0I don\u2019t think I\u2019m retiring now if I look at that chart, because the whole point of this is not to run out of money. I\u2019ve always known that my 20s and my 30s were a wasted couple of decades.<\/p>\n<p>[00:42:29]\u00a0I had some belief similar to that guy, Fernando, who you recently had on your podcast. I wasn\u2019t even making his income, but I had similar viewpoints on certain things. And to show up in my mid-40s with 60,000-dollar debt, that didn\u2019t come from nowhere. That\u2019s lost time that probably if I had been saving, you wouldn\u2019t be looking at a chart that shows a negative 114,000 somewhere down the line.<\/p>\n<p>[00:42:58]\u00a0<strong>Ramit:<\/strong>\u00a0What do you wish you had done with money?<\/p>\n<p>[00:43:02]\u00a0<strong>Rob:<\/strong>\u00a0Oh boy. I would have been a different person. I had an import business in the late \u201980s that I probably saved 150 grand on by the time that was done, and I just blew that money in the \u201990s. I wish I hadn\u2019t blown that money in the \u201990s.<\/p>\n<p>[00:43:25]\u00a0Back then, I wouldn\u2019t invest. I had gold coins in a safe deposit box in a bank, that kind of stuff. And so I didn\u2019t know about investing. I didn\u2019t trust the authorities. I just figured Wall Street was a scam, all of that stuff. I just had all these beliefs that would limit my ability to invest and make money.<\/p>\n<p>[00:43:49]\u00a0<strong>Ramit:<\/strong>\u00a0Hmm. Limiting beliefs. What about you, Adrienne?<\/p>\n<p>[00:44:03]\u00a0<strong>Adrienne:<\/strong>\u00a0Yeah, I wish I had started understanding money in an earlier time and understood more about it for sure. I\u2019m still not unhappy with what I did though. I\u2019ve been in the world of massage therapists for a long time. It breaks my heart, honestly, to see the massage therapists and what happens to them.<\/p>\n<p>[00:44:33]\u00a0And they\u2019re such great people, and they help so many people feel. And I remember this one friend of mine who had cancer, and she came in, and she said, yeah, I had $5,000 with a financial advisor, and they just told me that the market was terrible, and I\u2019ve lost almost all of it.<\/p>\n<p>[00:44:57]\u00a0And I said to her, honey, it\u2019s been a bull market. How can this be? She just looked at me like, I don\u2019t know what you\u2019re talking about. And it just breaks my heart sometimes. The people who are right brained, it\u2019s like we\u2019re left out of that conversation maybe by choice, but partly because we don\u2019t think that it\u2019s possible to understand what it is. It\u2019s possible to understand that world.<\/p>\n<p>[00:45:30]\u00a0<strong>Ramit:<\/strong>\u00a0It is.<\/p>\n<p>[00:45:31]\u00a0<strong>Adrienne:<\/strong>\u00a0And it is possible.<\/p>\n<p>[00:45:33]\u00a0<strong>Ramit:<\/strong>\u00a0It is. It\u2019s not a different language. It\u2019s not something that only certain people can understand. Everyone can\u2013 artists, creatives, painters, writers, tech people, everybody. And in my mind, we would never say, oh, I\u2019m right brained or left brained. I can\u2019t be a good parent. I can\u2019t be a good friend. I can\u2019t be a good parent.<\/p>\n<p>[00:45:54]\u00a0We would never say that. No. I have to. I\u2019m going to. It\u2019s important. And I feel the same way about money. It affects everything in our life, where we eat, where we live, where we send our kids, who we are. I can\u2019t accept someone saying, I\u2019m just not good at money. I\u2019m just not good at math. No, we can all get good at it.<\/p>\n<p>[00:46:18]\u00a0All right. Let me show you another scenario. You told me you love to travel. You told me that you want to strengthen your relationship. You want to be more generous. In this scenario, Rob, you said you currently work like three to five hours a week, making about 250 an hour. Is that right?<\/p>\n<p>[00:46:40]\u00a0<strong>Rob:<\/strong>\u00a0Yeah. Between 150 and 250. I can\u2019t tell. Yeah.<\/p>\n<p>[00:46:43]\u00a0<strong>Ramit:<\/strong>\u00a0All right. So you could keep this up until you are 70. I\u2019d like to give you a second to just look at the chart, and then let\u2019s talk about it.<\/p>\n<p>[00:46:57]\u00a0<strong>Rob:<\/strong>\u00a0At the end of life, we end up with over a million dollars doing it that way.<\/p>\n<p>[00:47:02]\u00a0<strong>Ramit:<\/strong>\u00a0Yeah. And remember, that\u2019s if you live until 94, 97. It continues to grow. It grew last year, but I felt like because the market was doing so well last year, that was the only reason it grew last year. For the next seven years or eight years, it has the balance growing as opposed to leveling off so early.<\/p>\n<p>[00:47:30]\u00a0<strong>Adrienne:<\/strong>\u00a0It seems more relaxing to know that everything is going to be okay, I guess.<\/p>\n<p>[00:47:40]\u00a0<strong>Ramit:<\/strong>\u00a0Okay. I love that comment. How do you know this chart is more relaxing?<\/p>\n<p>[00:47:48]\u00a0<strong>Adrienne:<\/strong>\u00a0Because there\u2019s not a negative sign on it.<\/p>\n<p>[00:47:52]\u00a0<strong>Ramit:<\/strong>\u00a0That\u2019s honest. You can see that the number starts dropping precipitously towards the end of life, but that\u2019s a very, very long life. You can see that it\u2019s relatively stable throughout, which is nice. That\u2019s a testament to how hard you two have worked, especially coming from a position of being in debt that late in life, coming together, paying it off, keeping it consistent, managing your expenses. Nice work. You\u2019ve put yourself in a position like this.<\/p>\n<p>[00:48:20]\u00a0It\u2019s really quite impressive. Just a couple of thoughts on this scenario. If the market does poorly, you might run out of money at age 88 and 91, but that\u2019s still a lot better than running out of money at 82, 85, like we saw in the last scenario. You would have to keep your expenses at 4,900 a month, consistent with where they are.<\/p>\n<p>[00:48:47]\u00a0It\u2019s a tight budget, but you could do it. I\u2019m confident you could do it. You\u2019re working three to five hours a week, Rob, not bad, for the next eight years. But that means nothing can happen to you. You can\u2019t get sick. You can\u2019t get injured. Nothing can happen to you in this plan in order for it to work. What do you think about that, Rob? Think about how you feel about having to work three to five hours a week for the next few years.<\/p>\n<p>[00:49:23]\u00a0<strong>Rob:<\/strong>\u00a0I\u2019m doing it now. It\u2019s fine. It\u2019s such a small amount of work. And in general, if I don\u2019t worry about every last client, every last account, every last job I get, then if I can relax into it, it\u2019s all right.<\/p>\n<p>[00:49:46]\u00a0<strong>Ramit:<\/strong>\u00a0Great. All right. But I wanted you to be able to really lean into your Rich Life. You told me you wanted to travel more. You wanted to have some sort of convenience. You want to be generous and help your nieces and nephews. So we worked out a plan with the Facet advisors where we said, what if you continue to travel at 30k per year?<\/p>\n<p>[00:50:17]\u00a0What if you took that 4,900 a month in expenses and added another 600 a month buffer? So now you have 5,500 a month or an extra 7,200 bucks a year to spend. What if we also added the fact that you could contribute 30, 000 a year into 529 plans for your nieces and nephews for a total of $200,000 towards education? Shall we look at scenario 3?<\/p>\n<p>[00:50:55]\u00a0<strong>Adrienne:<\/strong>\u00a0So it\u2019s basically the same as the last one, except for we\u2019re spending just a little bit more. Is that what it is?<\/p>\n<p>[00:51:04]\u00a0<strong>Ramit:<\/strong>\u00a0Yeah, that\u2019s a good assessment.<\/p>\n<p>[00:51:05]\u00a0<strong>Adrienne:<\/strong>\u00a0Okay.<\/p>\n<p>[00:51:06]\u00a0<strong>Ramit:<\/strong>\u00a0More money. So remember that the numbers, you\u2019re not only spending more. You\u2019re also contributing considerable amounts towards nieces and nephews 529. Generosity.<\/p>\n<p>[00:51:24]\u00a0<strong>Adrienne:<\/strong>\u00a0Yeah.<\/p>\n<p>[00:51:25]\u00a0<strong>Ramit:<\/strong>\u00a0Okay.<\/p>\n<p>[00:51:26]\u00a0<strong>Rob:<\/strong>\u00a0I noticed it\u2019s 20 hours a week until 65.<\/p>\n<p>[00:51:29]\u00a0<strong>Ramit:<\/strong>\u00a0I bet you do. I bet you do.<\/p>\n<p>[00:51:33]\u00a0<strong>Adrienne:<\/strong>\u00a0I was confused about that.<\/p>\n<p>[00:51:34]\u00a0<strong>Ramit:<\/strong>\u00a0Yeah. In this scenario, you have to work more. 20 hours a week, and the income has to go up. So let\u2019s talk about the implications of this plan. This is essentially a way for you to spend quite a bit more money living, but I want to make clear the trade offs that Facet advisors came up with.<\/p>\n<p>[00:51:55]\u00a0In this case, you\u2019re traveling. You have a lot more spending flexibility. You\u2019re way more generous with your nieces and nephews. You end up with over a million dollars, well over a million, depending on when you die. That\u2019s a legacy that could be left to family, charity, whoever it is you decide.<\/p>\n<p>[00:52:18]\u00a0Honestly, you could also decide, I love my nieces and nephews, but frankly, I like going to Barcelona more. So maybe we\u2019ll give them a little bit. We\u2019re going to cut that amount a little bit and have a very nice siesta. That\u2019s up to you. Let\u2019s talk about what it would take. In this case, you\u2019d have to ramp up your income.<\/p>\n<p>[00:52:37]\u00a0Rob, you\u2019d have to go to 20 hours a week, but only three more years. So working much more, but for a compressed amount of time. You would essentially need to generate $5,000 a week as a household. Question is, could you do it?<\/p>\n<p>[00:52:57]\u00a0<strong>Rob:<\/strong>\u00a0I\u2019m not sure. I\u2019m really not sure. If she manages to launch her coaching business, and it starts to pull in real money, that\u2019s different. Then it\u2019s possible. I know I only made 54,000 last year. I\u2019m probably going to make 70 this year, I\u2019m guessing. But next year will probably be another slow one. So if I wanted to try to bump those numbers up, it\u2019s going to take a lot more effort.<\/p>\n<p>[00:53:32]\u00a0<strong>Ramit:<\/strong>\u00a0Do you want to ask Adrienne what she thinks?<\/p>\n<p>[00:53:36]\u00a0<strong>Rob:<\/strong>\u00a0Well, you heard my take on it. Your take on your side of the equation, I\u2019d be interested in. Yeah.<\/p>\n<p>[00:53:42]\u00a0<strong>Adrienne:<\/strong>\u00a0I would love to be able to contribute to that in terms of getting my business to work, or getting another massage job, or whatever, if that\u2019s what we decide that we want to go with.<\/p>\n<p>[00:54:03]\u00a0<strong>Ramit:<\/strong>\u00a0What do you notice about these three different scenarios? When you think of all three of them together, the pluses, minuses, the trade offs, what do you notice?<\/p>\n<p>[00:54:12]\u00a0<strong>Rob:<\/strong>\u00a0The first one where I just stopped working and we hit a negative number 30 years from now or whatever, that doesn\u2019t work. And the last one, where somehow we\u2019re making $250,000 a year again, seems unrealistic to me in this moment, so I\u2019m not sure that worked. The middle ground seems like the most possible of the three just because I\u2019m not willing to stop working if it\u2019s going to jeopardize our retirement. And the last one, I\u2019m not so sure is doable. So I\u2019m in the middle.<\/p>\n<p>[00:54:49]\u00a0<strong>Adrienne:<\/strong>\u00a0That\u2019s good to hear. Yeah. Also, Rob said that you have some kind of thing that helps people with their businesses, or coaching, or something like that.<\/p>\n<p>[00:55:02]\u00a0<strong>Ramit:<\/strong>\u00a0Yeah, Earnable. That\u2019s a program we have that helps people start businesses and find customers, turn it into a profitable business. Yeah, we love helping people start their businesses, coaching, consulting, product businesses. We\u2019ve helped many, many thousands of people do it.<\/p>\n<p>[Narration]<\/p>\n<p>[00:55:19]\u00a0<strong>Ramit:<\/strong>\u00a0If you want to start earning more money to live a bigger, richer life, I put together a guide on finding your first profitable idea. You can get it at iwt.com\/findanidea.<\/p>\n<p>[Interview]<\/p>\n<p>[00:55:31]\u00a0<strong>Adrienne:<\/strong>\u00a0So maybe that\u2019s something that we could look into as well.<\/p>\n<p>[00:55:36]\u00a0<strong>Ramit:<\/strong>\u00a0Yeah, I think that would be great. How do you feel about these scenarios that you just saw presented to you?<\/p>\n<p>[00:55:52]\u00a0<strong>Rob:<\/strong>\u00a0I\u2019m right down the middle. I don\u2019t feel disappointed. I wish you could\u2013 I don\u2019t normally look back on my life with regret. I wish the 20s and 30s would have been different, but it\u2019s who we were at the time. I\u2019m not willing to risk running out of money, so I\u2019m not going to just quit.<\/p>\n<p>[00:56:10]\u00a0And I\u2019m not necessarily expecting to make tons of money like I used to, so I don\u2019t want to plan for the bigger scenario. But the middle scenario works, and I\u2019m good with it, and I don\u2019t feel scared about the middle scenario in any way. But I don\u2019t normally think of making plans like something\u2019s going to happen to me. I don\u2019t think that way generally.<\/p>\n<p>[00:56:44]\u00a0<strong>Ramit:<\/strong>\u00a0My silence is meant to help you realize that you two have to have conversations on your own. In your conversations, which I hear a lot of silence, I don\u2019t hear either of you asking each other, hey, what do you think? What do you think? Here\u2019s what I\u2019m thinking, but I\u2019m not sure about this one thing. This thing really worries me, but you\u2019re always great at that. What do you think?<\/p>\n<p>[00:57:08]\u00a0You worry. Adrienne, you reassure. Each of you have that job, that role. It does not matter how much money you have. Have you noticed that? Rob, when you were starting your business, you worried, and Adrienne, reassured. Now your business has grown way more. Your portfolio has grown way more, hundreds of thousands, millions of dollars more. Still playing the same song, still dancing the same dance. Now, the question is, do you want to keep doing it?<\/p>\n<p>[00:57:39]\u00a0<strong>Adrienne:<\/strong>\u00a0The one thing that does strike me is that I don\u2019t want Rob to feel like everything\u2019s on his shoulders, because we have a track record of prioritizing something and going after it. So why not prioritize our life right this moment?<\/p>\n<p>[00:57:57]\u00a0<strong>Ramit:<\/strong>\u00a0That\u2019s such a cool way to look at it, Adrienne. I didn\u2019t make that connection, that you both went after it. There are very few couples I\u2019ve met, like the two of you, who just went after it together. And I even love these little details you shared with me. It was so cool. Rob, you mentioned to Adrienne, like, I have all this debt. I don\u2019t know what to do.<\/p>\n<p>[00:58:18]\u00a0And Adrienne was like, no, we\u2019re going to combine our finances and we\u2019re going to tackle this. You\u2019re going to watch Suze Orman every single week with me, and we\u2019re going to do this together. And you did it. Do you know how rare that is? It is so rare. I can count it on one hand out of all the people I talked to, that they do it together and they crush it. Now you\u2019re on to the next part of life. You earned it. What a tragedy to live a smaller life than you have to.<\/p>\n<p>[00:58:50]\u00a0<strong>Rob:<\/strong>\u00a0We have our freedom. We have our money. We have time. We have everything in place now, finally. And so, yeah, I don\u2019t want that to change.<\/p>\n<p>[00:59:01]\u00a0<strong>Ramit:<\/strong>\u00a0If you have everything in place, why do you worry about money every single day?<\/p>\n<p>[00:59:05]\u00a0<strong>Rob:<\/strong>\u00a0You always ask the hard questions.<\/p>\n<p>[00:59:09]\u00a0<strong>Adrienne:<\/strong>\u00a0It feels like we\u2019re close. We\u2019re so close to it being pretty easy for us.<\/p>\n<p>[Narration]<\/p>\n<p>[00:59:22]\u00a0<strong>Ramit:<\/strong>\u00a0Over the course of two episodes, I heard Rob and Adrienne, specifically Rob, talk about how he just needed to know the numbers. And I spent a lot of time digging into their relationship with money, including their upbringing and their money dynamic together.<\/p>\n<p>[00:59:37]\u00a0And eventually, I gave them exactly what they wanted. I showed them the exact numbers in the exact scenarios they asked for. But did you notice? Didn\u2019t really seem to change anything, did it? Their conversations with each other were still filled with silence. There was no rainbow that appeared, where Rob suddenly sees the angel singing and feels good about money.<\/p>\n<p>[01:00:01]\u00a0That\u2019s not how it works. A Rich Life is something you have to actively pursue to live today, tomorrow, and 30 years from now. Now, I\u2019m very proud of Rob and Adrienne for having such a candid conversation with me. Remember, they paid off tens of thousands of dollars of debt together, and they accumulated a lot of money together as well.<\/p>\n<p>[01:00:21]\u00a0The next chapter of their life, though, has to be different. They already won this battle, so now they have to turn the page and focus on healing their relationship with money and living their rich lives. Let\u2019s hear their follow-ups now. First, from Adrienne.<\/p>\n<p>[01:00:35]\u00a0<strong>Adrienne:<\/strong>\u00a0Here\u2019s the things that I learned after being on your podcast. I was thinking, why is Ramit saying we need counseling? We\u2019ve had a lot of counseling. It took me a second, but upon reflection, I was like, oh. What\u2019s actually going on here is there is a power imbalance, and that I\u2019m giving my power away. So getting curious around how do we create a more equitable power balance in our relationship without creating a war?<\/p>\n<p>[01:01:03]\u00a0We don\u2019t have a spending problem. What we\u2019ve got here is a joy problem. How do we enjoy things? It\u2019s like we\u2019re eating a big meal and not even really tasting that meal. So creating a lot more enjoyment in the future. And lastly, the thing that I noticed is that fear is like a tyrant in the room, and it is driving that power imbalance and that lack of joy. My plan is to create a shared vision and get curious with each other around that shared vision in the future. So thank you, Ramit. You\u2019re a powerful coach. Appreciate you.<\/p>\n<p>[01:01:45]\u00a0<strong>Ramit:<\/strong>\u00a0And now, Rob\u2019s follow-up.<\/p>\n<p>[01:01:48]\u00a0<strong>Rob:<\/strong>\u00a0My biggest takeaways from our conversation is that I realize my fear keeps me from living in the moment, and I don\u2019t listen as well as I thought I did. I also realize what it\u2019s like for Adrienne living in the same house where my fear and moods are always present. Spending the last 18 years paying off debt and striving for financial independence hasn\u2019t totally prepared me for this next phase of life we\u2019re entering.<\/p>\n<p>[01:02:12]\u00a0My biggest surprise was just how much my fear dominated our conversation. I usually experience it like background noise, not really conscious about how it affects my day to day. It\u2019s not rational, and managing it going forward is a big priority. And the other surprise was just how much easier it is to watch Ramit\u2019s podcast and learn from others than it was to look within and confront my own stuff.<\/p>\n<p>[01:02:41]\u00a0And as far as my plan, my first priority will be ongoing work with our coach around fear. Second, we\u2019ll be finding and paying a fee-only financial advisor who could provide a more detailed retirement plan. And finally, changing our money conversations, or a lot of them, away from our yellow pages and toward a shared vision of how we want to live. Thanks Ramit, and all the best.<\/p>\n<p>[01:03:08]\u00a0<strong>Ramit:<\/strong>\u00a0Big thanks again to Rob and Adrienne. And I want to thank our partners at Facet for their detailed analyses of the finances. If you\u2019re looking for a financial advisor to run your numbers in detail, check out facet.com\/ramit. They can take all of your financial documents.<\/p>\n<p>[01:03:22]\u00a0They\u2019ll ask you about your goals and your plans, including vacation, children, housing, retirement, all of it, and they can help build a specific plan for you. Check them out at facet.com\/ramit. That\u2019s facet.com\/R-A-M-I-T.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rob and Adrienne are nearing retirement but worried about having enough. In Part 2, we dig into their Conscious Spending Plan to reveal a massively successful investment strategy that remains shrouded by deep lingering fears, $3 questions, and hard-to-break bad habits with money. This episode is brought to you by: Rocket Money | Stop throwing [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","om_disable_all_campaigns":false,"_lmt_disableupdate":"no","_lmt_disable":"","_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[290],"class_list":["post-118907","post","type-post","status-publish","format-standard","hentry","category-podcast-episodes"],"acf":[],"aioseo_notices":[],"modified_by":"Nasrin","_links":{"self":[{"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/posts\/118907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/comments?post=118907"}],"version-history":[{"count":0,"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/posts\/118907\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/media?parent=118907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.iwillteachyoutoberich.com\/wp-json\/wp\/v2\/categories?post=118907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}