• Ross Notes
  • Posts
  • Interesting Things from the Week - 29 April 2023

Interesting Things from the Week - 29 April 2023

April 29, 2023

My wife and I enjoyed this poorly titled Netflix series by Ramit Sethi. 

In it, Ramit meets people - mostly 30-something couples - around the country and works with them on their personal finances. Most have gotten themselves into some really stupid situations: credit card debt, renting a $400/month storage unit to store useless stuff, buying their personal residence versus renting, etc.

I’ve enjoyed Ramit’s work for a few years now. He bucks the traditional personal finance advice of “save as much as possible.” Instead, he teaches living your rich life, however you define that. If that means fancy trips to Europe and staying in five star hotels every once in awhile, then do that. But money is a tool for enjoyment so spend it accordingly, don’t scrimp and save as much as possible.

I also love his take on renting versus owning. In almost all cases, you are better off renting where you live. When you rent, your monthly rental is the ceiling of what you pay. When you own, your mortgage payment is the starting point. You then have taxes, utilities, maintenance, improvements, HOA fees, and the enormous opportunity cost of being stuck in one place for as long as you own the property. In 90%+ of cases, people are better off by renting and putting their money into S&P500 index funds.

This series was valuable to watch because it sparked a lot of conversation about managing finances between my wife and I.

The Great Electrician Shortage

I work with a lot of business buyers on acquiring an HVAC or electrical or plumbing company. I think they are smart! Here’s why:

World’s Wealthiest Cities

Interesting data into which cities have the most millionaires and billionaires.

The US

I’m not living in the US but I’m extremely optimistic about the country of my birth. The US is firing on all cylinders right now - tech innovation, cultural impact, desirability for talented immigrants, relatively-friendly business environment. But those actually aren’t even the most significant reasons for why America is positioned well for the present and future. Really enjoyed this thread by Michael Girdley: