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  • Mark Schreiber

Designing Your Life: A Path to Abundance

In a world where the pursuit of a "rich life" often feels like an elusive dream. Netflix's documentary series, "How to Live Your Rich Life," featuring Ramit Sethi, offers a refreshing perspective. Sethi's premise challenges the construct that we have been told since kids that you must work hard until retirement before enjoying life's pleasures. Instead, he presents a a more balanced approach: everyone can live their rich life, and it doesn't have to be deferred until the golden years.

Rethinking the Traditional Narrative

The traditional narrative suggests that you should work tirelessly throughout your career, diligently save for retirement, and only then start enjoying the fruits of your labor. At least for our grandparents and maybe our parents. However, Sethi's work challenges this outdated belief system. He believes that there is no reason that life shouldn't be enjoyed every day, not just during retirement, and that living your rich life doesn't have to equate to reckless spending or neglecting your future financial security.

The Power of Conscious Spending

One of the central pillars of Sethi's approach is the concept of a conscious spending plan. This plan entails taking a close look at your financial habits and deciding where your money is going. By doing so, you can make informed choices about how to allocate your resources in a way that aligns with your rich life goals.

Creating a conscious spending plan involves tracking your expenses and categorizing them. It's about distinguishing between necessary expenses, such as housing and groceries, and discretionary spending, like dining out or buying luxury items. It is also gives some guidance on what percentage of your income should go to which categories of your budget. This clarity allows you to make intentional decisions about where you want your money to go.

Self-Reflection and Financial Understanding

Another essential aspect of Sethi's methodology is introspection. To live your rich life, you need to have a deep understanding of yourself, your values, and your financial situation. This process isn't just about crunching numbers; it's about asking profound questions.

Sethi encourages you to ponder what truly makes you happy and fulfilled. What experiences, possessions, or achievements matter most to you? This self-reflection will serve as the compass guiding your financial decisions.

Furthermore, it's crucial to understand your financial situation thoroughly. This includes assessing your income, expenses, debts, and investments. By having a comprehensive grasp of your finances, you can make informed choices that align with your goals.

Balancing Enjoyment and Responsibility

One of the most compelling aspects of Sethi's philosophy is his belief in the possibility of simultaneously enjoying life and being financially responsible. It's not an either-or proposition. You can have your cake and eat it too, but you must be smart about it.

This approach means that you can indulge in the pleasures of your rich life while still saving for your future and retirement. It involves striking a balance between present enjoyment and long-term financial security. Sethi's framework empowers you to have the best of both worlds.

Tips for Living Your Rich Life

So, how can you start living your rich life today, without waiting for retirement? Here are some practical tips based on Sethi's teachings:

1. Define Your Rich Life: Take the time to envision what your rich life looks like. What are the experiences, possessions, and achievements that matter most to you? Be specific and vivid in your descriptions.

2. Create a Conscious Spending Plan: Track your expenses, categorize them, and identify areas where you can cut back or reallocate funds toward your rich life goals. Prioritize spending on what truly brings you joy.

3. Automate Savings: Set up automatic transfers to your savings and investment accounts. This ensures that you're consistently building wealth for your future while enjoying the present.

4. Invest Wisely: Educate yourself about investment options and strategies. Make informed decisions about where to invest your money to achieve your long-term financial goals.

5. Celebrate Milestones: Recognize and celebrate your progress along the way. Achieving milestones in your rich life journey is a cause for celebration and motivation to keep going.

6. Adjust and Adapt: Life is dynamic, and your goals may evolve over time. Be open to adjusting your rich life plan as circumstances change.

7. Seek Professional Guidance: Consider consulting a financial advisor to help you navigate complex financial decisions and optimize your wealth-building strategies.


Ramit's philosophy challenges the notion that a fulfilling life must be postponed until retirement. It also challenges the idea that we can enjoy life now and worry about retirement later or not at all. By embracing conscious spending, self-reflection, and financial responsibility, you can start living your rich life today. It's about aligning your financial decisions with your values and priorities, ultimately allowing you to savor life's pleasures without sacrificing your future security. So, why wait? Your rich life journey begins now.

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