Have you been watching Netflix? There’s been a lot of buzz in my professional circles about this new show on Netflix called “How to Get Rich”. It sounds like some sort of pyramid scheme or an investment series, but I was surprised to see it’s all about financial coaching! In this 8-episode series, Ramit Sethi meets several different clients/couples and helps them get their finances in order. It’s only a matter of time before I’m asked if I’m like Ramit. Let’s break down some similarities and differences between our approaches.
Ramit and I Both:
Let the client decide on the goals and make changes as needed
Factor psychology into how money works in a client’s life
Believe that money should work for you, and you should get to spend it
Provide options for you to choose from when it comes to budgeting and debt repayment, and then you execute the plan
How We’re Different:
I don’t provide investment advice, I get your finances cleaned up so you can go to the next right professional
I provide individualized service and sessions, not group coaching (Ramit does 1:1 for the show, but not for his entire business model)
I’m realistic about the amount of time true financial education and change takes. The show makes it look like a quick and easy process if you make some tough decisions. There just aren’t shortcuts here, and even the people cast on the show allude to several months of work.
Did you watch the show? What did you think? Comment below or join us in the discussion on social media.