I'm always surprised at the amount of money some people with no common sense can make.

@robertc6293

Жыл бұрын

Im beginning to think these are like Ryan’s (Seacrest) Roses where these callers are scripted bc these are too much😂😂

@ralfbo685

Жыл бұрын

That's why money is not purely a numbers game. There are spiritual aspects to these things. The spiritual side is not of common sense.

@ibealion1

Жыл бұрын

It's not an issue of sense. It's an issue of emotions.

@mg-by7uu

Жыл бұрын

I don't think this case is that simple. When everything crashes to oblivion cash is king. Dave just pretends that's not going to happen because it would hurt his profits otherwise

@bbtank3000

Жыл бұрын

Often it's people who were born into wealthy families with plenty of business connections.

This was my same situation until a few months ago, paying off the house and not having a $2300 payment feels so good! I have never slept better in my life. Now we are saving to buy a Car with cash to replace a 10-year-old Toyota with 250K on it. I will never have debt again! Dave made me do it! Thanks Dave

@lotto5742

Жыл бұрын

Your Toyota can go another 250k miles.

@DistopiaKosaki

Жыл бұрын

How much do you make?

@benbuy1381

Жыл бұрын

No debt, you sleep better!

@tracygaluszynski1868

Жыл бұрын

Don't pay homeowners taxes. See who owns your home.

@cookingsection568

Жыл бұрын

Get a 5 yr old honda

Proof that just because you are good at making money doesn’t mean you are good with money.

@fightsportspace7327

Жыл бұрын

Ask any professional athlete ever

@batman9512

Жыл бұрын

If they were bad with money, the call would have sounded much different. They are investing and not just making it rain, but their savings are not being used wisely.

@rainacherienne1010

Жыл бұрын

Like almost any celebrity.

Another bragging call. You gotta be kidding me. Next caller.

Dave lately roasting people 😂

@adoe2305

Жыл бұрын

@@Andrew_406 Poor little you

@batman9512

Жыл бұрын

In this instance, the man should be roasted.

@sorvoja

Жыл бұрын

Yeah, it would be healthy to replace Dave with John for a while. He seems generally irritated.

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

@superblump87

Жыл бұрын

@@Andrew_406 Dave's advice comes from a biblical perspective.

If you are going to work out our plan then you already know what you should do... 👏👏👏👏

@pseudonympseudonym2595

Жыл бұрын

She’s asking some other man what to do when her husband already has a plan. Her new plan needs to be to respect her husband and submit to her husband.

Dave, we have more money than brains, what should we do?

@skycaptain95

Жыл бұрын

Sell the brains for beans and rice and invest the difference in a $2000 truck.

@marywebb9127

Жыл бұрын

❤️

@Dflonn

Жыл бұрын

🤣

If you're making $400k a year, with $300k in the bank, all while maxing out retirement and being obviously successful, you don't need Dave Ramsey's advice on anything. You also don't need the opinion of anyone in this comment section, including me. Keep living life how you wish, sir and madam. It's obviously working for you.

@esonon5210

Жыл бұрын

The caller is calling just to brag

@megalodon1726

Жыл бұрын

There are people making millions a year who lose it all. Making lots of money doesn't mean being good at keeping it or growing it. Accumulating $300K in a savings account while still owing $200K on a mortgage is evidence that they do need advice from Ramsey or somebody else.

@sunkissed6220

Жыл бұрын

@@megalodon1726 💯

@spankynater4242

Жыл бұрын

This is why they are succeeding, because they don’t assume they know everything.

Thank you Dave. Talk to this lady the way she deserves to be spoken too. She and her husband are throwing their hard earned money to the wind. OMG!

@paulaleigh9438

Жыл бұрын

Clearly this lady wants to make changes. It's the husband that deserves to be spoken to in this manner. As the shows headline indicates.

@abbyadegbusi4232

Жыл бұрын

P0⁰

@mattmasteringer4399

Жыл бұрын

They’re just flexing on how much they make.

Looks like the hubby once had a breaking point some time in his life when his savings account said $0 and he said, "Never again" so he makes sure to stack up as much security as he can. Reminds me of Don Draper in mad men who always used to keep a whole bunch of cash in his drawer, or those people who bury money in the backyard or stick it under the mattress. It's a form of security and usually comes from people who grew up poor or with not that much and always planning for disaster that's lurking right around the corner. Guys like Dave who have been millionaires for a while call it stupid but that's cause they've been desensitized to "the struggle" Logically, he should pay off all his debts and then work his way back, but he probably psychologically sleeps better at night knowing he has $400k in the bank, everyone is different that way 🤔

@jimroscovius

Жыл бұрын

We were flat broke when we were first married, and we struggled to work our way out of it. We do well now, but there's no way we have that much in the bank. We paid off our house when we had about $50k in the bank. We took out $10k to pay it off and built it back up. It's not hard with no debt and no house payment.

@dec1slh

Жыл бұрын

@@jimroscovius good for you, but everyone has a different psychological reaction. Also, there are different levels of being broke.

@bernie236

Жыл бұрын

Exactly right. It feels like security and insurance. You feel you don’t have to worry about expenses for a while, should something bad happen like losing your job…

@carloswithac

Жыл бұрын

Agreed. I've been there. Got over it at this point.

@Nepthu

Жыл бұрын

Bingo! I'm also in this phase but investing more.

It's the classic illusion of progress. If you have 100k in your bank account but owe 100k on any debts, yes you will feel more rich, more powerful and more secure than if you had no debts and $0 in your account. But, you're worth the same in both scenarios.

@DoctorSmartyPants

Жыл бұрын

Dunno. In the second scenario, I would feel like I am winning because I would now be saving a ton of my paycheck. Maybe a few months of uneasiness at the beginning tho.....

@MusicPhrase

Жыл бұрын

@@DoctorSmartyPants You are agreeing with me then. I implied that the 2nd scenario was superior (or at least I sure hope I did). It shows a behavioral shift towards no debt. My point was that no one would go around bragging that they have $0. But, plenty of people go around flaunting cash or assets without disclosing their debts. And so the latter is more potent for fake validation.

@TheFirstRealChewy

Жыл бұрын

There is a big difference. Their expenses don't go to zero after paying off the house. That said, I don't recall hearing their expenses. I'm going to guess that they are still high despite paying off the house.

Some people just love paying interest

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!!!

@franklingonzalez1003

Жыл бұрын

Some people are downright financial masochists.😆

@alinatamashevich3354

Жыл бұрын

@@franklingonzalez1003 EEk, that is rough, but true

@31gamenation

Жыл бұрын

As long as the cash flow pays for it I'd like to be a billion dollars in debt 🤴🤴

@alinatamashevich3354

Жыл бұрын

@@31gamenation LoL. Enron thinking

This has to be one of the best calls/comments I have heard in year’s. Not only I’d the info spot on, the comments were funny.

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

I don't want to hear anymore from these people making inordinate amounts of money. They are detached from the reality most of us live in.

They’re just called to show off

@Sheryl777

Жыл бұрын

Even the rich, need advice sometimes to know how to handle their money well.

@perotal

Жыл бұрын

@@Sheryl777 the rich don't call a radio show for financial advice

@Sheryl777

Жыл бұрын

@@perotal Oh I don't know about that, but that is your opinion and that's fine for you to think that.

@reese85

Жыл бұрын

@@Sheryl777 there not rich

@reese85

Жыл бұрын

@@perotal thanks you! Idk why ppl are calling them rich! There not rich

PAY IT OFF!!! That’s crazy to have that much money being held by the bank who is using that money and making more than you! No brainer … pay it off!

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

I hope her spouse calls in to share an update😁

@JustinCase780

Жыл бұрын

He's too busy working. 🤣

@christianakungu6344

Жыл бұрын

@@JustinCase780 she literally said they both work

@JustinCase780

Жыл бұрын

@@christianakungu6344 I never said otherwise but I bet he's working a lot.

@superblump87

Жыл бұрын

@Justin Case if she isn't too busy to call in, why would he be?

@JustinCase780

Жыл бұрын

@@superblump87 Who cares. The call was a joke. That was the point.

$30k is a nice vacation? Where are you going and how are you getting there. To me $30k would be a nice annual lifestyle.

@todd2456

Жыл бұрын

That's because you're poorer. We are considering a 3 week vacation next summer that will cost around $27K.

@Dan16673

Жыл бұрын

@@todd2456 yup. Dude doesn't get % of income. It's all relative and he is probably poor

@Ink30

Жыл бұрын

@@todd2456 why dis the guy who is struggling and correct grammar is " that's because your less wealthy"

@todd2456

Жыл бұрын

@@Ink30 'you're' Maybe some people are less well off because they never studied in school to know the difference between 'your' and 'you're'. All of my friend who use incorrect grammar are considerably less well off than those who do. Coincidence?

@Ink30

Жыл бұрын

@@todd2456 I think I do pretty well being a dumb blue collar guy at 90k a year I'm not rich nore poor, just think you shouldn't Dogg someone who is trying maybe just as hard as yourself not everyone was handed the golden spoon.

That is pretty dumb to have more in savings than your mortgage balance and not pay it off.

@Dan16673

Жыл бұрын

Depends on what it's being used for

@GatoradeAppreciator

Жыл бұрын

A house is not liquid. Cash is.

@ralfbo685

Жыл бұрын

@@GatoradeAppreciator have you ever tried to hold a bunch of water in your open hand. Liquidity has its advantages, but you need solid assets too.

@mocheen4837

Жыл бұрын

I have enough savings to pay off my house but choose to invest my money.

@Dan16673

Жыл бұрын

@@mocheen4837 yes that is what smart people do. I do the same.

Dave should start all calls by asking how long the caller has been listening the show.

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

Great advice.

Making $400k means you can buy anything you want, but not everything you want. There’s a difference.

@philipgerry5228

Жыл бұрын

That’s an important distinction.

@JeremyJarvis1998

Жыл бұрын

Good point. I think it is more important to say they can buy anything they need, but not everything they want. It is important to differentiate between needs and wants.

@arga400

Жыл бұрын

@@JeremyJarvis1998 400k a year is enough to buy anything you WANT lol

@reese85

Жыл бұрын

@@arga400 no it’s not!

@arga400

Жыл бұрын

@@reese85 I dont think you ever made 400k lol

This call was literally just rich people crying about being rich and wishing they were richer

@reese85

Жыл бұрын

There not rich!

@cryptkeeper5027

Жыл бұрын

Everyone who has money wants more of it. Just by your comment you sound like you aren't rich, but wish you were.

@CZsWorld

Жыл бұрын

Welcome to America

@endofquoterepeattheline7516

Жыл бұрын

They’re not rich man

@spankynater4242

Жыл бұрын

I didn’t hear anything that resembled crying, maybe you’re projecting?

I use to tell my pa this, everyone has a gift and also weaknesses. Is great to realize that because you are humbled and arent to proud to ask others for help who may be gifted in areas you arent like dave is.

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

I will be happy when the house is paid off. It feels so good not having debt….

@hildamiller-3816

Жыл бұрын

Me too my house is paid off already since 2020.

If I was making that much, I would be putting like $20k away in a 457b plan, $20k in a 401k plan, $6k in Roth IRA, and then $100k in a brokerage account on a 10% dividend yielding stock.

@jasonsharpbucks

Жыл бұрын

10% dividend paying stock would be risky

@wewhoareabouttodiesaluteyo9303

Жыл бұрын

@@jasonsharpbucks There are some that actually are stable. I was on the search and it has not let me down so far. My best advice? Look at balance sheets and EPS. Good luck!

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

LOVE this !!!!

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

@OTOWN2STOCKTOWN

Жыл бұрын

What

Lol, my wife and I are in a similar situation. $350k in the bank-but we have a paid for house. Getting ready to purchase a rental-and I’m going to miss the “security” of that amount in savings.

@DistopiaKosaki

Жыл бұрын

Wow how much you guys make?

@paytonreid5077

Жыл бұрын

@@DistopiaKosaki $600k.

@jameschaves5723

Жыл бұрын

Get ready for sleepless nights

@rebeccaoliver7977

Жыл бұрын

There's a lot of comfort that comes from having cash in the bank when things are uncertain.

Beans and Rice, Rice and Beans.

@JustinCase780

Жыл бұрын

Cliche and nothing to do with this call. 🤣

some people just dont like seeing numbers go down

I don’t see anything wrong with holding a larger emergency fund than Dave’s 3-6 months of expenses. I personally think one year of net pay is reasonable. $400k after taxes is around what he’s got.

@ralfbo685

Жыл бұрын

The issue is inflation is eating away at your savings. Between 5-15% percent a year, which compounds. Numerically, you will still have 400k in the bank, but when everything else gets more and more expensive, you are losing purchasing power. That's why you HAVE to put money in investments in order to maintain your wealth. In short, any money you have sitting in the bank is losing 5-15% a year. Any money you have in investments must have a return of 10% or more every year (on avg). Otherwise, you are losing wealth.

@richard77231

Жыл бұрын

Emergency fund should really be based on why the money needs to go out (i.e. based on what you might need to spend it on) as opposed to how easily it can go in (income).

@Joenzinator

Жыл бұрын

There's just no reason to do it. Put your money in an after-tax investment acct, and you can access it nearly instantly in an emergency.

@bradycone

Жыл бұрын

Their income in 400K, but their expenses definitely aren't close to that. Then if they paid off their house and had no mortgage, the 100K they had left would still be a year of expenses in savings.

@adamseidel9780

Жыл бұрын

Not in cash that isn’t reasonable. If you want to have some mixtures of low risk assets that double as secondary personal liquidity and investment repurchase assets then it’s not too dumb.

Dave could be wrong here...I have a mortgage at 2.58%...and have a savings account that is currently paying me 3.5%.

@Dan16673

Жыл бұрын

He is wrong. Can invest that and make way way way more

@Winnie-Kay

Жыл бұрын

So, after all is said and done, you're ahead 0.92%. Nicely done

@beercanrich99

Жыл бұрын

Yes, but if you are a long time listener of Dave's you know he always wants debt paid off. Doesn't matter what the interest rates are. He always advises that strategy because he knows some fool will see that 300K in the bank and think "I can buy a Ferrari", and they will.

@cryptkeeper5027

Жыл бұрын

Yeah and inflation is eating that money at 8%-15% a year

@epizan

Жыл бұрын

You have to account for risk of having a mortgage and add that to the 2.58.

Heck yeah thats because hubby knows how hard it was to make it in the first place, lady!!! ( oДo)

@christianakungu6344

Жыл бұрын

she works too

4:32 If you hate being debt free... 🤣🤣🤣

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

Small world problems

GOOD LORD!!! 😂

What about property taxes? I am working to pay my mortgage off though....

I hate paying bills. Walking the baby steps, once I get the house paid off my goal is to dig a well so I never have to pay the water bill again, and set up solar panels so the electric company pays me. That just leaves phone, internet, and insurance. I can work anywhere and pay those.

@Ink30

Жыл бұрын

Smart

@trea1129

Жыл бұрын

ABSOLUTELY

@DoctorSmartyPants

Жыл бұрын

I like that!

@rainacherienne1010

Жыл бұрын

Get Mint Mobile for phone it’s $200 per year.

let me guess. the wife is a stay at home mom with four kids and the husband is a doctor making 400k. she is saying pay off the house. Husband thinks he makes the money he makes the financial decisions.

@Nolaman70

Жыл бұрын

He sounds smart.

@hiteshadhikari

Жыл бұрын

Makes sense

@scarpfish

Жыл бұрын

Still gotta work as a team on these sort of matters.

@alqoshgirl

Жыл бұрын

If that is indeed what he thinks he’s an idiot and wrong. My husband would never say that to me. It’s our income not his. We are married, we make our family work by me staying home and him working. I have just as much a say in our finances as my husband

@Sheryl777

Жыл бұрын

@@scarpfish Agree....something that it seems that several commenters still don't "get" yet. Couples need to be able to agree together on financial things, no matter which person brings in more money. That's Dave's plan, is that couples should decide on their finances together. If someone doesn't happen to like Dave's plan, then go find another youtuber or person whose plan they do like, that they can listen to and agree with. I have never seen the point of consistently going to someone's youtube channel or blog page, and cutting down a lot of whatever the youtuber or blogger says. Just go find someone's advice they like better if they feel that way. Unless they really just enjoy being complainers all the time.

Dang, I wish I had this problem. I wouldn't even need to take a loan for the house I'm hoping to build this year.

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

If you don't feel ok after paying off the mortgage, then go get yourself another mortgage. Lol. All Dave!

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity.❕

Pay the minimum and invest the rest. But if you already have the money in the back and some extra. Then just pay it. You are not making much money on it. It's cost you more.

They need to give me that money so I can pay my mortgage smh

@Zuyst

Жыл бұрын

Just work for it

@prasoon-manandhar

Жыл бұрын

Stop begging for someone else’s money

@JESUSandPoker

Жыл бұрын

"They need to give me that money so I can pay my mortgage smh" -Every Democrat

@lynnjoseph7359

Жыл бұрын

Some of y’all take things serious because it shows. Who says I’m not working for it smh

@pamelalima5401

Жыл бұрын

Or give to me so I can buy a house in cash

I wish Dave had dug a bit deeper, nobody has that kind of money is cash equivalents while keeping a mortgage unless it got a specific purpose. Is the cash insurance against some future liability? Do they need cash to potentially over short positions or some other financial play?

@linuxsurfer2002

Жыл бұрын

Husband wants cash to feel safe for the future (I am like this too, just not nearly this crazy).

This has been so helpful, that's me, but a bit smaller.

How can they put money in a ROTH IRA if they make $400K? The income limit for a couple is $214K.

@travelnurseadventures3225

Жыл бұрын

Back door-traditional Ira then roll over to Roth IRA-lots of info on youtube 😀

@princetonscholar5723

Жыл бұрын

Back Door. Traditional IRA deposit - then roll it over to ROTH 48 hrs later.

@jona4961

Жыл бұрын

Basically investing in a traditional Roth and converting it to a Roth IRA. It’s called “backdoor roth”

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!!!

Anyone would be afraid of using their savings. Specially when you make 400k.

Dave @4:30, Savage.

my 15 year mortgage is at 2.99. and high yield savings are earning 3.25. its hard to want to pay it off early but yes if I was in their shoes id pay it off today

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

Who in the world keeps £300000 In savings, with today's Bank interest rate? Inflation is eating that money up. Its a rip off from the ban. Put that money to work or pay off that house and have even more money to buy investments or rental property. Wow.

I wish I had their problem!

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

"just get you another mortgage - you'll feel better" 🤣 I inherited a bit of money from my parents and it was sitting in passbook savings and a few CDs. Paying off the mortgage was for us the clear option. Never regretted it. Looking back I would have been money ahead if I'd put it into investments. But we couldn't have known that then, and the years of peace of mind are even more valuable to us.

There are a lot of times that I am convinced that these calls must be fake, it is easy to get into high debt with mortgages, student loans etc, and your present job doesn’t make enough… but when you are making so much cash between the husband and wife, for whatever reason don’t want to touch the savings, because the husband is an idiot, if it’s real, these have to be the type of people that love to show off to their friends, but I am still convinced that some of these phone calls are fake.

@rebeccaoliver7977

Жыл бұрын

You might be surprised. They can also be the type of people you'd never, ever, suspect have money. It's easy for Dave and posters here to call them stupid and ignore the security he feels having cash in the bank. Our histories shape us. One reason some people have a lot of money in the bank is they aren't impulsive and the things that bring them joy aren't expensive.

So much nervous giggling....

@mattmasteringer4399

Жыл бұрын

She is flexing on how much they make. They can literally buy a block if they wish too.

My savings is at 3.5%. not all banks have sucky rates

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

@kadedah2077

Жыл бұрын

. But where is the investment account that gives 3.5% interest? Banks just give .01% etc

@kariatkinson4121

Жыл бұрын

@@kadedah2077 brick and mortar have not the best rates. Check with Ally, Goldman Sachs, SoFi ( currently 2.5% on checking and savings is 3.5% with direct deposit into checking) , Barclay Bank, Amex Savings

I don’t get it because as soon as the house is paid off you just put the whole house payment back into savings then. And have a paid for house if anything were to happen. Having a paid for house would make me feel the safest personally.

How much are your mortgage payments and how much of that is interest?

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

This is the kind of stress that I would not mind having haha

Unless they were nearing early retirement and was building a few years of cash bucket for that, they should use some of that cash to get completely debt free. With the income they have they should be able to build whatever level of cash back up fast.

The mortgage interest is probably higher than the amount of interest they're being paid from savings. There's no reason to keep this much money on cash.

I felt a mountain was lifting off my body when I paid off my mortgage.

How of you not pay off 350k when you’re earning 400k? How do you earn 400k?

If my mortgage is 2 to 3% i m not paying if off. Keeping money in high yield savings to put in the market when see rhe opportunity or just put in index funds

I like a good troll. The more broke they are the funnier they get with their made up stories and Dave always falls for them 😂

@johnhein2539

Жыл бұрын

No, I believe it. I know people like that

I really loathe calls like this. It's more of a "Hey Dave, I already know the answer to my question, but I just wanted to tell you about how much money we have." Weird flex, but ok.

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

Another case of we are rich so what should we do?

@reese85

Жыл бұрын

What makes them rich?

@BackToTheFun

Жыл бұрын

@@reese85 owning your home 🏡

@reese85

Жыл бұрын

@@BackToTheFun but they don’t and we don’t even kno how much the house is worth

@BackToTheFun

Жыл бұрын

@@reese85 oh wow. Dave literally said to pay it off tonight. Have a good day

@Sheryl777

Жыл бұрын

Even the rich, need to know how to handle their money well.

High yield saving is 3.5%…

Having depression era Parents (or Grandparents) could be at play here.

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

@LioraLand1

Жыл бұрын

WHY CANT KZread GET RID OF THESE DAMMED FAKE ACCOUNTS?!?!

Dave missed it on this one. They’re not asking whether to just keep their 300k in saving but deciding whether to invest or buy another rental property and build assets that generate more cash flow rather than pay off the house. They most likely have a low interest rate and would make more investing with a yearly average return between 6-10%. Or get a rental property that builds equity over time and pays for itself from renters.

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity.❕

@Phantom121904

Жыл бұрын

Pretty sure his answer would still be the same. He's said multiple times you should pay off your mortgage before buying investment properties.

@spankynater4242

Жыл бұрын

You must be a new watcher. Dave always says pay off the mortgage, he didn’t miss anything here.

I was on the husband's side until all the number starting coming out. i cant say im smartest when it comes to money management but this was a toss up. paying off the house will leave you with a $100k during a time when most americans couldnt afford a $1000 emergency. Then she said the house hold income i almost turned my computer off

The security you feel from paid off everything, some people feel from cash in the bank. Some people will say both of those are stupid. Cash in the bank is stupid because of potential investing returns. Paid of debt is stupid for the same reason. You teach people financial peace, some people find peace in different ways. If you make a lot of money, you can just save and that is your luxury, money in the bank to sleep like a baby. It’s worth a conversation to consider what helps his wife sleep at night and maybe have a happy medium but saying it’s stupider than a rock goes against “financial peace” as a principle.

How come there’s never content of real ppl issues such as someone making 60k and having the struggle? Everyone on the show you guys answer to, make 200k or more and that’s not reality. That’s 20% of the nation if that.

Husband is emotional, not logical

@mattiaslp9645

Жыл бұрын

no he’s smart. y’all just wanna spend it all.

No one said rich people are smart

@darex0827

Жыл бұрын

Usually smart in a specific field, not necessarily finances. Good example are doctors, genius in the medical field, but idiots in most other things.

@reese85

Жыл бұрын

There not rich lol

@snowboarddan5899

Жыл бұрын

@@reese85 your telling me 400k a year isn’t rich?

@reese85

Жыл бұрын

@@snowboarddan5899 no it’s not! Your well off but not rich

@snowboarddan5899

Жыл бұрын

@@reese85 I suppose you have to be a billionaire then with your logic. 400k a year they could easily be multimillionaires.

Allways pay it off.

@gooserich3970

Жыл бұрын

Always.

@SPY_0_DTE

Жыл бұрын

Unless if you want a higher amount of money come retirement time then invest

@amireallythatgrumpy6508

Жыл бұрын

@@SPY_0_DTE Unless you want more money than you will ever need.

@SPY_0_DTE

Жыл бұрын

@@amireallythatgrumpy6508 You will have more if you don't pay off your house because of compound interest. It's simple math. Some people just don't like any debt and that's fine, pay off the house. Any amortization calculator will show you will have more money at the end by investing sooner with that lump sum of money vs putting mortgage size payments every month into your portfolio

If they already invested 15% of their income and still have this much savings, shouldn't it stay in a savings account or should it be added to the investment pool on top of the 15%?

@spankynater4242

Жыл бұрын

It should be used to pay off the mortgage.

@Jil1A

Жыл бұрын

@@spankynater4242 and what if the mortgage is already paid off?

@spankynater4242

Жыл бұрын

@@Jil1A that’s when you start investing.

She said they make $400k, max out 401k's, and contribute to a Roth. I thought there is a point where you cannot contribute to a Roth IRA because your income is too high?

@iamokay5676

Жыл бұрын

You can through Backdoor Roth which has no limit.

@hanooi7450

Жыл бұрын

Yes. This sounds fake.

@Dan16673

Жыл бұрын

Yes it's a 401 roth

@beercanrich99

Жыл бұрын

@@Dan16673 But you can't contribute to a Roth 401K if you max out your Pre-Tax "regular" 401K. At least not with my company.

@beercanrich99

Жыл бұрын

@@iamokay5676 But backdoor Roth has to be funded with "regular" IRA money right? Not from a 401k. And then you have to pay regular income tax on those contributions.

Not sure how they qualify for Roth with a 400k annual income.

🙏🏼

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

A high yield savings account is currently around 4%. I have a loan at 2.25% on my mortgage with the cash sitting in savings to pay it off today. Paying it off would be stupid. I'm betting they're in the same scenario. I'm making 1.75% on my money by not paying off the loan.

@wewhoareabouttodiesaluteyo9303

Жыл бұрын

Now put 7.1% inflation against that. You are not making 1.75%. lol

@MrFiremind

Жыл бұрын

@@wewhoareabouttodiesaluteyo9303 If my mortgage were paid off I'd still be losing that money to inflation either way. Your point is moot.

@wewhoareabouttodiesaluteyo9303

Жыл бұрын

@@MrFiremind I just did not want you to be complacent. Reality hits.

@gwendolynharris1682

Жыл бұрын

You would make more paying off your mortgage.

@MrFiremind

Жыл бұрын

@Gwendolyn Harris My mortgage costs 2.25%, my savings account makes 4%. I make more money leaving it in savings than paying off the mortgage.

So the interest on the house is more than the interest they are making too lol At least when most people don't want to pay off their house they are usually investing it at more than the interest rate on the house But in this exact situation it's absolutely insane and there is nothing good about it

I figured she didn't listen before since she asked how dave was doing. Everyone knows that answer

I’ll never get used to seeing Dave’s ears.

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity.❕

Wait, is this a troll? How can you have two maxxed 401k, $400k income and still contribute to a Roth? IRS phase out rules state you can't contribute to a Roth after $205k income.

@Dan16673

Жыл бұрын

Roth 401k I used to put 18k in my roth that way making 200

@travelnurseadventures3225

Жыл бұрын

401K Roth or do back door: traditional Ira then roll over to Roth IRA lots of info online

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!!!

People who make that much money can't contribute to Roth IRA's. Something is wrong here.

@mocheen4837

Жыл бұрын

Sure you can. 401 K Roth.

@mabanobi

Жыл бұрын

You can do a backdoor Roth IRA contribution.

Lol pay it off

They need more normal people calling the show.

Troller call

Guys, we don't have enough information to call them stupid. With their income, they're probably paying a lot of money in installements so they're probably paying only peanuts in terms on interest. Also, with the current situation, if they pay their house cash and they find a nice place a few months from now, they're unlikely to get a loan with the same interest rate. I also know people who have lived throught difficult economic downturns, they will telk you that in times of crisis, assets are worthless, you need cash. That's probably how this man feels. I mean I like Dave Ramsey and his advice and I am also trying to pay my debt fast, but I am also now at a point when I pay quite little in interest that using the money I have on the side to buy a small cheap rental might make more sense on the mid term than to continue paying the debt I have at an interest rate I will not get again.

$400k income, but put $$$ into their Roth IRA???

@mabanobi

Жыл бұрын

Backdoor Roth.

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

Seriously? Paying a freaking interest rate every single month and making the bank rich while having 300k to clear the debt today?

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!

And there's no way their "High yield" savings is beating the mortgage interest.

@IA-py9by

Жыл бұрын

Mine is ....my high yield is currently at 3.5%....and my mortgage is at 2.58%.

@Dflonn

Жыл бұрын

@@IA-py9by well done on both

@kadedah2077

Жыл бұрын

But where is the investment account that gives 3.5% interest? Banks just give .01% etc

@HHHPedigrees

Жыл бұрын

@@kadedah2077 A high yield account is different than your bank savings account.

@kadedah2077

Жыл бұрын

@@HHHPedigrees ok. Are there high yield accounts easily available in uk?

They make 33k a month They will be fine

calling a professional gambler for financial advice....

@amireallythatgrumpy6508

Жыл бұрын

When you really get down to it, every career is a professional gamble.

Now that’s what I call flexing. You making 400k a year, you make enough money to buy entire block. They just wanted to brag how much they make.

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity.❕

Or -30000

It's simple, the husband is waiting for a housing crash with cheap homes and profitable rent. Window shopping daily. Wishful thinking, just get out of debt.

They're rich af

Ridiculousness!

Pay of the @@## house!🙃

@ss-s-do3uw

Жыл бұрын

Tell max i recommend you to him a life-changing investment opportunity!!