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Ramit Sethiis all about living a rich life.
In avideoon his YouTube channel, Sethi explains that most financial advice on the internet is one-size-fits-all.
However, generic advice, according to Sethi, cankeep you from living a rich life.
They havent met the benchmarks theyve seen online, and they assume its their fault.
Falling into a self-denial pattern, they second-guess every dollar spent.
Sethi said he doesnt want people to feel bad about money.
Ask the Questions
Sethi pointed his viewers to Fidelitys online retirement guidelines to show what he means.
The top-of-page content says you should save 10 times your income by 67 to be comfortable in retirement.
Sethi reminded audiences that these websites dont know any individuals financial situation.
They dont know your money history, current situation or long-term goals the three factors that truly matter.
You get there by following your benchmarks not those of someone who doesnt know you.
Know Your Situation
Sethi believes in clarity as the key to a rich life.
you better know how much comes in, what your lifestyle costs and what you better achieve your goals.
This is one of the most important topics in your life, Sethi said.
you oughta know your numbers.
That doesnt mean tracking every penny which is unsustainable for most people, according to ablog postfrom Sethi.
The other component is knowing your net worth and where you want to be.
For example, generic advice often tells you to say no to a nice dinner out.
If you put that money into a savings account instead, youll be better off later.
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