Get my 5-day email funnel that generated $400,000 from a single launch

Want an email sales funnel that's already proven to work? Get the entire word-for-word email funnel that generated $400,000 from a single launch and apply it to your own business.

Yes! Send me the funnel now
Start Here: “The Ultimate Guide to Personal Finance”

Why your opinion about the stimulus plan doesn’t matter

45 Comments- Get free updates of new posts here

0

I don’t write much about current events here, because they usually don’t affect your personal finances, but I wanted to point out something interesting I just read.

everyone-is-entitled-to-my-opinion

Image by pink_fish13

Have you ever noticed how everyone seems to have “the answer” to the healthcare crisis or the economic meltdown? The problem is, they usually don’t see above their own situations to the larger problems. That’s why any one of our opinions is largely irrelevant.

Check it out:

This New York Times article points out how G.M. is asking for $12.1 billion more in loans. The comments are the best part:

  • “Amy” starts arguing about healthcare and her grandfather

  • “Dave” writes about the auto companies being political sacred cows
  • “RG” complains about Wall Street fat cats
  • “Dale” bemoans the lack of a national healthcare system
  • “JK” argues that unions are a net benefit to America
  • “Outraged” argues that “unions are destroying America”

And that’s just in the first 10 comments.

You see the problem?

Everyone’s got an opinion, usually drawn from their own narrow experiences, not seeing the full picture.

This is why product managers know how difficult it is to ask their users what features they want in a product.

It’s why politicians can’t just tactically respond to what people want, but have to show leadership in what they need.

And it’s also why everyone’s got an opinion about what you “should” do with your money, but few people actually implement the strategies.

You can listen to people’s opinions all day long. You can read thousands of blog comments on personal-finance blogs each week. But trust me, those critics — whether it’s your uncle or mom or sister or friend — are still going to be saying the same things tomorrow, next year, and 5 years from now.

What matters is what steps you take toward getting rich right now.

0

Related Articles

standard post picture

How to ask for a favor (and get what you want)

Every year on my birthday, I ask my readers to do me a simple favor. I tell them to leave ...

Read More
401k

401(k): The single best way to grow your money

How would you like free money? That's not a trick question. For millions of people, free money is up for ...

Read More

45 Comments

0
 

Leave a Reply

45 Comments on "Why your opinion about the stimulus plan doesn’t matter"

Notify of
avatar

Sort by:   newest | oldest
mike
mike
7 years 6 months ago

Ramit says: “And it’s also why everyone’s got an opinion about what you “should” do with your money, but few people actually implement the strategies. ”

Is this true? I figured that the people vocal about what we should do with money generally follow their own opinions, whether their opinions were financially healthy or not.

Tim
Tim
7 years 6 months ago

i agree with you that politicians need to “show leadership in what [people] need”. the question is, do they have the guts to do it. i am curious what you are doing to protect your capital against the destruction of the dollar that our current “leadership” is bent on carrying out through inflation of the currency. have you hedged yourself against this?

Dr.Stuart Schaller, PhD
Dr.Stuart Schaller, PhD
7 years 6 months ago
This bailout is a joke. There are 11 million “officially” unemployed, and there are another 5 million or more (counting illegals) that were part of the underground economy that are no longer employed. We are already 10 trillion in debt. We actually need another 3 trillion to cover the bailout, with interest costs, etc. The only thing, IMO, that is going to save the US now is a major revolution against the government. If the government gave the bailout money directly to every man, woman and child (including illegals), we would have gotten around $75,000 each!!!
Grant
Grant
7 years 6 months ago

You nailed this one.

Perhaps this should be copied to your “Things I Hate” blog.

Nate @ Money Young
7 years 6 months ago
Dude, Dr. Stuart, thanks for your two cents, but as his article says, you opinion doesn’t matter. As he said “What matters is what steps you take toward getting rich right now.” I would like to alter that to be “What matters is what steps you take toward getting HAPPY right now.” Dr. Stuart, a question: Obviously the bailout doesn’t make you happy, what do you think you can do about it to change it??? If I asked myself that question I would say very little. Which why this bailout fills my brain about as much as Muhammad Muhammad… God… Read more »
Dr. Stuart Schaller, PhD
Dr. Stuart Schaller, PhD
7 years 6 months ago

I understand that my complaint about nthe bailout ultimately means nothing.

Personally, my wife and I are doing OK, and trying to increase our income and savings. We are OK, but like everyone else, we could be better off than we are.

Increasing income and savings is a bit more difficult to do at 62 than at 22.

I get a BIG pension when I’m 65, but I CAN’T get it until I’m 65..

Check it out
Check it out
7 years 6 months ago

My opinion is that chick is hot!

Josh
Josh
7 years 6 months ago

AMEN Ramit!

mike
mike
7 years 6 months ago
What steps am I taking right now? The same ones I’ve been taking since 2000: —Working at a job I enjoy (but don’t love) because the salary, benefits, and perceived security are a good fit for me and my family —Sticking to my short-term and long-term savings goals, which are the same goals I had nearly a decade ago —Still waiting for my short-term savings to allow me to put 20% down on my first home, but salivating at the current real estate market because it is opening more doors at my current savings level than were available even a… Read more »
Writer's Coin
7 years 6 months ago

This is why you’re the best Ramit. It’s one of the “problems” people have with democracies—if politicians simply did what we wanted them to do they’d go into a million different directions and never get anything done.

Battra92
7 years 6 months ago

I have no faith in the government. The president is an empty suit who has no idea what he is doing.

So what am I doing about it? I’m worrying about myself and trying to ignore the news. The media spins it the way they want to and we never get the truth until 100 years later.

StackingPennies
7 years 6 months ago
Thank you. I’m so annoyed with people saying how they are against the bailout. So what??? Even if they do see the big picture, what are they going to do about it besides whine? This is why I love this blog. You say it like it is. Write your politician and get involved if you really think you have a solution, but don’t whine to me about it. PS – as i was about to hit submit, my MSN notified me that my friend “I don’t want to be a socialist!!!” just signed on. So annoying.
Andrew
Andrew
7 years 6 months ago

Are you a product manager, Ramit? Because you nailed that line… “This is why product managers know how difficult it is to ask their users what features they want in a product.” Amen, brother.

Kennedy Nguyen
Kennedy Nguyen
7 years 6 months ago

You made the point Ramit. I rather spend my time to study hard and find a way to get into Standford than read those junk news. xD

Mark
7 years 6 months ago
“What matters is what steps you take toward getting rich right now. ” You really should add…. “and learning from yours and others mistakes of the past”. There has never been a better time to learn about ‘money’ in all it’s forms, but too many people are focusing on the here and now, and I fear that they will drop their interest in even their own finances as soon as the economy picks up and go back to their old ways. Now is the time to make changes that will last a life time. Yes a buy one, get one… Read more »
Snowballer
Snowballer
7 years 6 months ago
I have to agree. I am a free market, the government doesn’t know what it’s doing, the bailout is stupid type, but I’m still taking steps to better financial fitness. So many things in life you just can’t control you just have to deal with. Yes the bailout is going to make things worse, but good personal finance is still good personal finance. I can only cope with it as best as possible, it’s stupid to waste so much energy worrying about it. It’s a done deal. The same thinking applies to all the current financial market woes. So many… Read more »
Gayle
7 years 6 months ago

Ramit, you hit the nail on the head. As the ol’ saying goes (and I’ll cut it down)… “opinions: everyone has one and they usually stink.”

In fact, try going one lunch hour with a group of friends, and just sit back and listen. Try not to speak. Almost everything said is just opinion and noise to fill the silence. People can’t handle silence.

Ramit, this post has been a light bulb moment for me. Thanks!

Mike V
Mike V
7 years 6 months ago

Can’t agree with you more. My one friend constantly updates his FB page with venomous reactions to politics, yet he finds himself buried in debt and not trying to increase his savings / earnings. Quit talking and start doing.

Marco Almeida
Marco Almeida
7 years 6 months ago

Nice T-shirt!
But that’s just my opinion :p

Dennis
7 years 6 months ago

Great post. You cut straight through the crap and got to the point. You can complain all you want. Until you do something, your opinions are just air.

Astrid
Astrid
7 years 6 months ago

AMEN!

BIGSeth
BIGSeth
7 years 6 months ago

Maybe people shouldn’t comment on articles

Jai
7 years 6 months ago

Reminds me of this article http://paulgraham.com/identity.html.

RK
RK
7 years 6 months ago
Ramit, I agree with your post, but one thing I think you should do is take an even bigger step back and look at all the spending we are still doing. We are spending a ton of money on defense, foriegn aid, and for two wars and we’ve been doing it for a while. Most of it has been fairly hidden from the press, but it’s a noteworthy issue because it’s collectively all of our money. (Take a look at the F-22 Raptor issue that’s been popping up lately.) All of this talk from people about how to fix the… Read more »
ekrabs
ekrabs
7 years 6 months ago

Hehe, thanks for this reality check. Yes, I have noticed that a lot of comments out there are on what’s wrong, and sometimes, even why things should work a certain way.

And though I don’t say it out loud, you’re right, it doesn’t matter.

I suppose sometimes people are just venting, which I don’t mind. Other times, I think some people may be bearing their ignorance. But that too I don’t mind. 😀

In the end, I’m can only do what I can on my end.

topseekrit
topseekrit
7 years 6 months ago

I think people’s opinions matter when they collectively decide to do something about a particular situation. The key is that they took action to make a difference (i.e. organizations, employees, communities, etc.)

Yeah random thoughts that have nothing to do with the given topic is a waste of time, but this is America where freedom of speech lies.

Jessica
Jessica
7 years 6 months ago
How awful to have opinions of your government in a democracy! These people should be ashamed of themselves! But seriously, just because some folks commented on an online article while they were bored at work, this means that they don’t take care of their own finances and should shut up? I’m sure they’re fine, and the beauty of the situation was that if you were really sick of opinions you didn’t have to read them, just like this is the last straw in me reading your blog anymore. From the same old frugality tips disguised as something new and different… Read more »
liv
liv
7 years 6 months ago
i think it’s funny that everyone nitpicks at whether or not this bailout will work before it was even signed. nothing was built in a day, and this bailout won’t fix anything in a day either…so i think people should chill out and give it some time. just because you don’t like it now and it’s apparently not hitting you now, doesn’t mean it may not work in a couple years when everything is finally getting in motion. i’m giving it some time to see how things pan out. if it gets worse, then it wasn’t a good idea…and if… Read more »
Dr.Stuart Schaller, PhD
Dr.Stuart Schaller, PhD
7 years 6 months ago

Dear Ramit (and all):

The purpose of my first post was to try and get people to stop think the bailout will actually help anyone and to think about what is in their own best interest; nothing more.

Carlin
Carlin
7 years 6 months ago

Actions speak louder than words. Or spoken more poetically – “What you do speaks so loudly that I cannot hear what you say” – Emerson.

Discussion for the sake of discussion is healthy because you get a chance to develop certain skills that can benefit you when you might need them. Complaining and bitching about everything without considering any sort of counterargument is not useful.

trackback

[…] the continuing saga of “to be wise is to be sad,” financial blogger Ramit Sethi chimes in: Have you ever noticed how everyone seems to have “the answer” to the healthcare crisis or the […]

Colin
7 years 6 months ago
Hi – here’s what I am actually doing: #1. Buying stuff: Lack of consumer confidence and massive unemployment are making the employed richer and we don’t have to do anything. Our purchasing power is increasing as prices deflate. #2 betting against the stock market. Did you know that if you had shorted the S&P500 (ticker symbol SH) you’d be up 22% for the past 12 months? Market prices are psychological. Go read the news (or even the comments above) and you’ll see that things aren’t going to change for the better in 2009. Disclaimer: I’m not an investment professional and… Read more »
Yogesh
Yogesh
7 years 6 months ago

Hi Ramit .. I just came across your blog. I think it makes a lot of common sense. That’s why people probably don’t do it that much.
Personally I have been following some of the ideas. Some of the things that I liked WWAID, C.E.O strategy. Actually WWAID made me chuckle :).
Good luck with your book.

Bible Money Matters
7 years 6 months ago
I agree that we need to put the rubber to the road, and start taking action in our own personal finances. It’s important to make good decisions, pay off debt, save and invest for the future. At the same time I think it’s important to stay engaged in the political process – and to let your elected representatives know when you’re not happy with them. The key in my eyes is moderation. Don’t go overboard complaining for no reason – and when you complain – complain to those who matter. When it comes to money, don’t worry so much about… Read more »
Erik Snyder
Erik Snyder
7 years 6 months ago

There are many instances when the government does affect my personal finances. Because of the mortgage crisis, many American can not refinance their homes, because home values have dropped so low. This potential monthly savings affects everyone’s budget. Also, There are very few places to make money with your money right now. Money market and CD rates are close to zero, factoring in inflation and you’re losing money. I think the biggest need right now is creating jobs and cutting taxes, which will not happen because of this spending excess bill just signed.

trackback
[…] I don’t want to see your Facebook status about the stimulus, nor an MSN name stating that the country is going to hell in a hand basket, with too many exclamation points.  (At least levity to the sentiment and say “where are we going, and why am I in this hand basket!?”)   Unless you are going to be some kind of political activist and actually do something, or unless I am voting in the near future in a way that can affect this, I just don’t want to hear your opinions on whether or not you think this is… Read more »
Chris
Chris
7 years 6 months ago
Ramit, It is true that the bill has been signed. But as a person who both emailed and mailed my opinions to my congressmen, I must say that I am saddened. Why? The desire for the current President who chose the slogan “Change We Need”, and then proceeded to do exactly as his predecessor did. He also signed into law the bill proposed by his predecessor. And appears to be moving troops from Iran to Afghanistan. I’m still waiting for the “Change We Need” from the head honcho. As to how it affects my finances. The stimulus plan is ineffective/inefficient… Read more »
Josh
Josh
7 years 6 months ago
Ramit, I normally don’t comment on your blog, and normally don’t read down to comment 40. Right now I am supposed to be putting down some notes from a meeting I had with a business mentor about venturing out with entrepreneurship – but I find myself figuratively a million miles away, reading about a topic albeit educational but far removed from my circle of influence. Funny where procrastination leads. I like your article, one thing that does strike me is your tone towards personal empowerment. Ultimately the macroeconomic situation is the aggregate of our individual decisions and we need to… Read more »
Millionaire Acts
7 years 6 months ago

Nice to stumble your blog dude! We’re in the same niche. 🙂

trackback

[…] more). The magic comes in getting you to actually take action. But we love to debate minutiae and complain about the economy, even though saving money fundamentally involves earning more and spending less. These commenters […]

trackback

[…] 2009 Stimulus Plan – Those worrying about “popular” issues have limited ability to see big picture, whether it be on politics or personal finance. Frames himself as having tangible solutions. […]

wpDiscuz