#214 with Ramit Sethi - Why You Should Have a Diversified Investment Portfolio

**Sam Parr** (0:00)
All right, there's this amazing book called Getting Everything You Can Out Of All You've Got. I read it a few years ago and it changed my life.
And the reason I loved it was because it basically talks about how to get and make more money using things that you already have.
Coincidentally, today's podcast is brought to you by Business Made Simple. It's a podcast by Donald Miller, who I'm gonna tell you about in a second, but he has this amazing episode that's all related to this book and the things that I learned in this book. It's called How To Make Money With What You Already Have. It's an incredible episode. Talks about all the stuff that I learned in this book. The host is Donald Miller. I didn't know who Donald Miller was up until recently, but over the last 12 months, this is totally by coincidence. It was all separate people. They said, you have to check out Donald Miller. He's amazing. So I'm happy that he's part of HubSpot's Podcast Network. You can check it out, Business Made Simple Podcast. It's where he coaches you on how to build your business like an airplane, where the cockpit is your leadership, the body is your overhead, the right engine is your marketing, the left engine is your sales.
You have to check it out. This guy's amazing. It's called Business Made Simple with Donald Miller.

**Ramit Sethi** (1:02)
In our copywriting program, we say, be clear, not clever.
Clear, not clever. It's really hard to be crystal clear. It's super easy to create marketeers and be clever, but in the grand scheme, we believe clarity wins.

**Sam Parr** (1:30)
All right, so Ramit, have you, you could be honest. Have you ever listened to the podcast?

**Ramit Sethi** (1:37)
I've heard your clips and I love them.

**Shaan Puri** (1:41)
Good answer.

**Sam Parr** (1:42)
You know what you're getting into. Yeah, you know what you're getting into. And you're also, we'll just say it.
One of the reasons you're here is because I like you, we're friends. Another reason is you're smart and good at this stuff. But the third reason is you just had a podcast come out and you'd been talking about doing a podcast forever. Now you actually have one. It's about...
The people are anonymous, right? It's anonymous couples having discussions about money.

**Ramit Sethi** (2:05)
Well, most of them use their real names and they're all real voices.
So I always wanted to listen in on couples fighting about money, discussing money, but you can never do it. You know, the only place you've ever heard anyone fight about money is on a movie. And now you actually get to listen to real couples sharing real numbers, talking about what's going on with their money, how do they disagree? And then what do I help them do to get over it?

**Sam Parr** (2:32)
And what's it called?

**Ramit Sethi** (2:34)
It's called I Will Teach You To Be Rich with Ramit Sethi.

**Shaan Puri** (2:37)
And so this is a little bit like, what's her name, Esther Perel? Is this sort of like her model where, I forgot what her podcast is called, it was very good. She's like kind of like a relationship coach and she has a couple.

**Ramit Sethi** (2:47)
She's a therapist. Yeah, Esther Perel is amazing. You know, she helps couples with therapy. Mine is not therapy, but if you imagine, for example, a couple where the classic example is, you know, he's an overspender.
We don't have enough money for that. That's a classic one, but then it becomes much more interesting. For example, we have a couple, the guy hates, hates paying too much for organic blueberries.

**Sam Parr** (3:14)
He hates it.

**Ramit Sethi** (3:15)
So when he orders blueberries, he has two tabs open. He's comparing notes. I know all your personal finance nerds listening to this are like, what's the problem? That's totally normal. No, it's not normal. He opens it up. He's comparing, cross comparing.
Guess his net worth.
What do you guys think?

**Shaan Puri** (3:30)
I'm guessing it's high based on the setup. So, I don't know, we'll go over, I would say over 10 million.

**Sam Parr** (3:38)
Sam? A million bucks.

**Ramit Sethi** (3:41)
$8 million. And he's comparing the price of blueberries.
And really what this shows is money is not just about math. In fact, we overvalue math and we undervalue psychology, which is what the podcast gets into.

**Sam Parr** (3:55)
Did the launch go well? How the first episodes do?

**Ramit Sethi** (4:00)
Great. I mean, we're learning, right? So I know all the metrics cold for email and even social stuff. But for podcasts, we're like, I texted some of my friends, hey, what's good? And they told me some numbers. I'm like, okay, so we released it. So it's getting tens of thousands of downloads per episode. We're happy about that. I'm more happy that people are writing in and they go, my wife and I finally talked about money for the first time. We've been married for six years.