Ramit Sethi

"We’re in our 40s and forgot to invest. Are we screwed?"

Nicole and Shane, a couple in their 40s who have been together for 8 months and are getting married in 11 days, sought financial guidance to combine their individual money habits and build a shared rich life. Nicole, 40, had adopted a "rich life" focused on travel, fine dining, and discretionary spending, including $500 dresses, after reading a financial book three years prior. Shane, 48, was a natural saver whose living expenses were largely covered by his nonprofit job, meaning he rarely worried about money. Their financial situations were distinct, and they aimed to merge them effectively. Their combined financial snapshot revealed assets of $245,000, investments of $239,900, savings of $265,000, and debt of $171,664, resulting in a net worth of $588,000. Their fixed costs were remarkably low at 36%, investments at 14%, savings at a high 42%, and guilt-free spending at a very low 8%. While they had done many things right individually, the challenge was to synergize their finances as a team.