I'm 27 and my wife is 30. We are making our final house payment tomorrow!

@NatePolmateer

3 жыл бұрын

WHAT! amazing!

@thechiefcornerstone9774

3 жыл бұрын

Your eternity is more important

@MrJumpingmaniac

3 жыл бұрын

@@thechiefcornerstone9774 we're Christians too

@DivalerioKitchens

3 жыл бұрын

Congratulations! You’re an inspiration.

@gtbigdog3507

3 жыл бұрын

By the time you read this you are already paid off great job. I’m 59 and I won’t be done for a year

If I had $1 every time Dave mentioned his study on 10,000 millionaires , he could then say 10,001 millionaires

@chan625

4 жыл бұрын

Underrated

@braceyourselvesfortruth2492

4 жыл бұрын

"We did a study" means they got the answers they wanted so they could hock some nonsense for air time. They definitely didn't ask the right questions.

@jojohns9670

4 жыл бұрын

He's a liar. This is the study …. just those who call on his show... and he and hulk Hogan will be jotting down the notes.... throw out anyone who's info does not align with his preconceived notion.

@ZaoZaoification

4 жыл бұрын

Also his opinions are affected by winner's bias

@matthewtanous7905

4 жыл бұрын

@@ZaoZaoification It's not "winner's bias" to discount the opinions of those who failed at a goal in "how to achieve this goal".

$14,000 left on my mortgage!!

@TheGentlemansKitchen

5 жыл бұрын

Keep going man!

@mrcuboid

5 жыл бұрын

rckdude12345 keep it up!

@jeffreyabbey9592

5 жыл бұрын

Killing it!

@cm01

5 жыл бұрын

You're gonna have the real deed in hand in a year man!

@MarksTournaments

5 жыл бұрын

rckdude12345 reply when you finish, rooting for you

$4,000 left on my mortgage!!

@fanoftoast

4 жыл бұрын

Ma En you got this!!!

@nicknoland9704

4 жыл бұрын

$157,000 left on my mortgage!!

@mariahw7451

4 жыл бұрын

What did it start at?

@nisuperman

4 жыл бұрын

Congratulations!

@daviddave8266

4 жыл бұрын

$283,000 left on mine

Paid off my house 4 years ago and it still gives me pleasure just to stare at it knowing there isn't a bank in the loop.

@DH-uw3us

5 жыл бұрын

Must be nice having all that extra money each month. Can't wait.

@TheTurdballs420

5 жыл бұрын

Don’t pay the taxes on it for a year or two and you’ll find out who really owns it quick ;)

@shellyd1811

5 жыл бұрын

@@ALCAN52 Where are these places? besides Florida.....

@rchavez5056

5 жыл бұрын

@@ALCAN52 I didn't know there was places like that. Where are those places?

@richardsanchez9190

5 жыл бұрын

Guess I might be moving to Alaska when I retire.

I paid off my 🏠 yesterday. God Is Good 🙏🏼

@MeltingRubberZ28

Жыл бұрын

Congrats!

@miahw8878

3 ай бұрын

Amen 😇🙏🏽 and congratulations

@noulafrantz8589

Ай бұрын

Congratulations 🎊

@MrDark21knight

22 күн бұрын

💫🌠💫

The 2 biggest pay raises I ever got were when the kids finally went off the payroll and the mortgage was paid in full.

@therandysmith697

5 жыл бұрын

Kids are never off

@derrickhorvath2216

5 жыл бұрын

Randy Smith they are if you raised them right.

@ozarked2363

5 жыл бұрын

@@derrickhorvath2216 Amen, brother. Mine are not only off the payroll, they both have Masters degrees without loans. The oldest is married and they have their house already paid off at the age of 32. They aren't making the mistakes I made of student loans and car payments right out of college.

@aolvaar8792

5 жыл бұрын

$1600/mo adoption subsidy + $2000/mo SS for children in care when drawing retirement =$3600/mo BIG pay raise when kids are on the payroll. I tell people in your state there are 20000+ Kids waiting to be adopted. When one person draws SS retirement, The spouse draws regardless of age, if taking care of kids

@You_are_not_normal

4 жыл бұрын

InfamousCrimes 👍

I love how she seems so appreciative for what she has.

@chrisytblair

4 жыл бұрын

agreed!

@estrogen_intolerant

3 жыл бұрын

Gratitude goes a long way.

@andyw6996

3 жыл бұрын

It's called privilege....white people have it, but most refuse to acknowledge it.

@estrogen_intolerant

3 жыл бұрын

@@andyw6996 really? All she is doing is showing gratitude.. what does that have to do with privilege?

@MissHunterELA

3 жыл бұрын

@@andyw6996 nahhhhhh, this is definitely NOT about race.

Paid off our house in 7 years (at age 35), saved that money and bought rental properties. It feels great!

@bim-ska-la-bim4433

4 жыл бұрын

How much debt have you taken on to buy rentals? Any?

@hollyb6885

4 жыл бұрын

Mr Gwarn Stylee $280,000. Paid that off in 10 years. That feels really great

@benjismith593

4 жыл бұрын

I thought about doing this, but I deal with people all day for my job. I couldn't deal with people tearing my stuff up. My uncle, and boss all sold theirs. Too much of a hassle.

@christinamarin4875

4 жыл бұрын

How are your rental properties doing??

@HammadKhan-qq7fz

4 жыл бұрын

Amazing i guys deserve it

That’s exactly what we did. We put every penny to the mortgage and paid it off in about 8 years and never had a loan of any kind after that. We’ve never had a car loan in our 26 years of marriage. We are the millionaires next door.

@kristymarie6065

4 жыл бұрын

Sharon H did you stay in the same home and just pay it off?

@MJ-cf9nl

4 жыл бұрын

@@kristymarie6065 That's what paying off your house is. Stop hopping from one house to the other and just stay in one and focus on paying it off. You will reap the benefits after that believe me.

@kristymarie6065

4 жыл бұрын

MJ I agree

@themontephone875

3 жыл бұрын

@Sharon H...I know you’re telling the truth. It’s hard to get my mind overturned but I believe it can be feasible. I just cannot get it through my head and I hate it. How did you think about it?? (Edit to correct.)

@vs6462

3 жыл бұрын

@@matthewkoch6937 spot on mate. Having a stable, quiet life is bliss

I paid off my mortgage in 12 years at the age of 50. Life is good. Thanks Dave Ramsey !!!

@carianin5293

2 жыл бұрын

You obviously have no children.

@saraphillips1038

2 жыл бұрын

@@carianin5293 Not necessarily ..they may have children. If you don’t give your kids everything want and don’t get pulled into the American idea that you have to have everything you want and give your kids everything you can save money. We did it and it was a huge blessing not only to our children but us as well.We raised our kids to not feel entitled and to work hard.

@schuylergeery-zink1923

2 жыл бұрын

Yup, we started raising my teenage nephew and we spend only a extra $200-300 per month for food, clothing, and other things (yearbook, other essentials, etc). He works a part time job for any extra fun things aside from the occasional treat, bc we are in debt payoff mode. Occasional family outting. As my mom says, kids aren’t too much extra, whatever you want the expense to be on them. You could spend hundreds or thousands. Or thrift around, use hand-me-downs as much as possible etc.

@sobeliever1638

2 жыл бұрын

@@saraphillips1038 or if you din't have children with special needs ,lots of expenses with that.

@saraphillips1038

2 жыл бұрын

@@sobeliever1638 yes I’m sure in that situation you would definitely have more expenses.

Paid off my house in February!!! As Braveheart said.......FFFFRRRREEEEDDDDOOOOMMMM!!!

@ryankiel4895

4 жыл бұрын

How did you do it? Walking through the baby steps? Some people cheat and skip investing for retirement and skip funding their kids' college fund. I would not do that.

@themontephone875

3 жыл бұрын

Ryan Kiel . It’s not cheating. It’s fast track.

@raleigh2747

3 жыл бұрын

Ryan Kiel paying off your house is still also building wealth which will still lead to earlier/better retirement.

@yesicacortez7971

3 жыл бұрын

Your comment gave me goosebumps! Congratulations!!

@ivgondef4408

3 жыл бұрын

@@yesicacortez7971 thanks

I'm paying off my house in 2.5 years. Single mom of 2 kids. Been through Bankruptcy, Divorce and income range: 17,000 - 31,000. It will be paid off in a total of 9 years!!! Thank you Dave!

@musicalbenches

3 жыл бұрын

Congratulations!!!

@fleurelise997

3 жыл бұрын

Rockstar status🥂🍾

@AvantiDesign

3 жыл бұрын

You’re a hero ! Well done!

@Cardenasbrend

3 жыл бұрын

You are a rock star!!!

@5chermie

3 жыл бұрын

You go, girl! I'm trying to do the same in the next 2.5 years as a single mom. My goal is to pay it off so I can stop working the night shift.

Bought my home in '99 with a 30 year loan, refi in late '05 to a 15 year loan, and got a drop in interest simultaneously by 1.5%. Began paying extra to principle and got thru the 15 yr loan in 12-13 years. Paid off 14 months ago. Not a huge success story but we do what is possible!

@fanoftoast

4 жыл бұрын

1redrubberball it doesn’t matter if it’s HUGE, you did it!!! That’s what counts! Congrats!! 💪🏻

@1redrubberball

4 жыл бұрын

@@fanoftoast Thank you! It feels wonderful!

@hupomone0609

4 жыл бұрын

1redrubberball that’s one huge success story there, bravo 👏🏻

@kimberlynhughes3658

2 жыл бұрын

Yes, that is a huge success story!! So many people never accomplish what you have!

@nmccw3245

Жыл бұрын

Yes. That’s a huge success story. 👍🏻

I'm disabled and make less than $25k a yeàr. Hope to pay off my $70k mortgage by 45 because I don't anticipate being able to work long term. Reducing expenses now so hopefully I can survive when it gets to that point.

@didibebedidi

4 жыл бұрын

May God keep you healthy and help you pay your mortgage faster. When you have a roof over your head life is easier. You can work for less money or you can live with less when you own a house.

@michemash8860

4 жыл бұрын

You got this! If you educate yourself on amortization tables and how to live on half your income (which, you may not be able to actually accomplish however, it will give you great ideas) you will do well! It is within reach.

@TANQ31

3 жыл бұрын

Your post in encouraging for me to not only attack my debt but to decrease spending to train myself for post working budgeting

@jaymeonjones9831

3 жыл бұрын

All the very best Jeremy!

@clodiamandes7153

3 жыл бұрын

A year ago!! Hope you doing good, please let us know how's going🌞

Paid off our mortgage in 7 yrs. Drove junk vehicles put every dime of overtime at it and lived well below our means. Glory to GOD.

@Elizabeth-yg2mg

3 жыл бұрын

No, glory to YOU.

@nola49erfanlo14

3 жыл бұрын

@@Elizabeth-yg2mg i can't take credit. God gave it all

@nola49erfanlo14

3 жыл бұрын

@Phoenix That's incredible

@nola49erfanlo14

3 жыл бұрын

Thanks

@kfrancis1872

3 жыл бұрын

I year later...needed this, thank u.

Watched this 4 years ago and came back to say I cleared my mortgage and am now officially debt free aged 39. Thankyou for this advice Mr.Ramsey. Wellwisher from the UK.

@boneyn3661

5 ай бұрын

Welly Welly Welly!

@Tristan14578

7 сағат бұрын

Thats awesome. This is my goal too

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

@JacquelinePeters03

28 күн бұрын

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

@Ingridlourd02

28 күн бұрын

@@JacquelinePeters03 However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments

@JacquelinePeters03

28 күн бұрын

@@Ingridlourd02 Oh please I’d love that. Thanks!

@Ingridlourd02

28 күн бұрын

@@JacquelinePeters03 Judith Ann peace is her name

@Ingridlourd02

28 күн бұрын

Lookup with her name on the webpage.

Retired. 100% debt free. Loving life. Listen to Dave..follow the steps.

@mitchellgalinkin7558

4 жыл бұрын

me too Lake

@christophercolumbus8944

2 жыл бұрын

why you still listening ? then haha

@fcbarcelona9015

Жыл бұрын

@@christophercolumbus8944 he said he listened. That's why he's doing better.

You guys are so amazing! Please pay off your home asap because as soon as you pay off your home, then its yours forever. You will be set for life given your age. I was 56 by the time I paid off my home and my financial life has soared ever since as I still work full- time. I'm now 59. Now have money to travel and drive the car of my choice. I enjoy working and have no plans to retire but I don't have to ever work again if I didnt want to. Paying off my home is the most financially liberating thing I have ever done! Its now worth 1.4 million. I bought it for 750k. Best wishes!

@themontephone875

3 жыл бұрын

Ttthhhhaaannnnkkk yyyooouuu for your jolting truth! I feel better ...bc these other comments make me feel like I should add cement blocks to my ankles and try to swim.

@winstonchurchill3597

3 жыл бұрын

1.4 million - I wouldn't want your property tax bill.

@bmarie8965

Жыл бұрын

As long as Yu pay your taxes!

@elkellenhabla

Жыл бұрын

@@winstonchurchill3597 he bought it for $750k so he probably makes more money than you. He doesn’t have a mortgage so he can probably afford taxes. A lot of states also have homestead exemptions that limit the amount of taxes you pay on a primary residence.

@varmastiko2908

Жыл бұрын

Trouble is homes are not forever. They deteriorate and you have to put a huge amount of resources into keeping them up. A home is not an investment. Yes it's great to have a paid up home - but don't kid yourself that it's some sort of wealth. Unless your gaining income from owning your home and that income surpasses all the upkeep expenses - then it's not wealth, it's not an investment. It's merely a luxury that's mostly paid for, right now at this very moment.

24 years old. Paying mortgage off tomorrow as a big lump sum! Can not wait

@ambethk77

4 ай бұрын

Congratulations!

@guanedits6349

18 күн бұрын

You're 24?? Dang. Im 25 and just starting my mortage payment. Took my way to long to realize i needed to lock in

@shamekawilson2396

10 күн бұрын

@@guanedits6349 sweetie you are way ahead of the game at 25 trust me

The mental health aspect of the baby steps is so often overlooked.... that piece of mind is so vital!

@louisiorfida7623

2 жыл бұрын

peace*

Just turned 33 yesterday and have 69k left on my first duplex! 3 more years and I'll be debt free with passive income and couldn't be more excited!

@Emma-lh2sv

3 жыл бұрын

How’s it going so far?

I had a 30 year mortgage, paid it off in 11 1/2 years in 03. Well worth it.

@Sabrinasee02

4 жыл бұрын

bob marker how do you do that, we are in a process of buying a new built home $258,900? 30 years loan. Please explain; greatly appreciated. God bless

@Beaurivageify

4 жыл бұрын

SeePrewitt Family just do bi weekly payments and all additional money goes to mortgage.

@bobmarker6812

4 жыл бұрын

I had a large down payment on a 30 year fixed, then a year and a half later, refinanced at a lower fixed rate dumping more towards the principal on a 10 year mortgage. 11 1/2 years total, paid off.

@mikeynkoey

4 жыл бұрын

bob marker Just to clarify, the monthly payments you made were the same as if you had a 10 year mortgage?

@bobmarker6812

4 жыл бұрын

@@mikeynkoey A year and a half into a 30 year mortgage, I refinanced ( w/lower fixed interest rate ), going to a 10 year mortgage adding to the principal with what I saved in the year and a half I had the 30 year. Then just made regular payment's on the 10 year. I bought a small house. Didn't need a big house - no kid's - ever. I've always lived below my means. Retired @ 57.

*Making Good money is one thing, managing it once you have it is another, and they seem to have done a good job at both.* 💪

@DeTraKzHD

5 жыл бұрын

I see you everywhere lol

@alexc5369

4 жыл бұрын

Making legitimate KZread comments is one thing, advertising your channel through commenting on finance videos is another. You are great at one.

@jogmas12

4 жыл бұрын

Black Vito - Moneyology not everyone can earn that kind of money working at a job

18 months ago, our real estate taxes went up $100 a month; homeowners insurance followed suit with $30 per month. We were drowning. Our home was located in a developing part of town with McMansions driving up taxes and insurance. We sold to a developer, bought a beautiful condo cash outright with very low fees, insurance and real estate taxes. We have money in the bank. I got a better paying job and closer to home, husband reinvented himself and his work- increase income. As the new year started, I took on-the remaining debt in a snowball effect budget. I'm down 2 credit cards to date. I'm determined. Thanks Dave Ramsey.

@herbiehusker1889

5 жыл бұрын

But you have to live in a condo. I know some people are fine with that, but unless I'm over 65 and retired, I wouldn't want to live in one of those.

@matthewwilliams9200

3 жыл бұрын

hehehe money in the bank sounds like baby steps out of order drop that bank down to 1k or pay off those cards 😉

@ibealion1

3 жыл бұрын

That's a good feeling. Good job!

@sarahcastelli6161

2 жыл бұрын

what are you doing,,

$247,906.41 left on the mortgage. Plan is to pay it off in 5 years. Hope I remember this post so I can do a 5 year update.

@twincherry4958

4 жыл бұрын

Shoot $1M home!

@stevenroshni1228

4 жыл бұрын

Put a Google calendar reminder to share with us, if your Google account is still relevant then...lol

@bonsaikiss

4 жыл бұрын

What’s your income?

@Swatsrong30

4 жыл бұрын

What's your income and what are your plans to accomplish this? No other debts, children, etc?

@tomnorton7817

4 жыл бұрын

Similar. I have £185,600 left to pay and a 4 year target to get rid of that too.

Paying mine off this month! Took 18 years.

@biker3762

3 жыл бұрын

well done

Just want to take a moment to appreciate this couple’s success. Never be jealous of another persons income or current state. People making that kind of money work hard, study hard, sacrifice a lot of their free time, and put in the extra effort. Surround yourself with people you consider successful and you’ll start to see their habits and routines and pick up on a lot of good advice and be motivated to improve yourself.

@KT-ed8hj

3 жыл бұрын

Don't forget about luck. People for the most part are a product of their environment. For example most people who grow up in the ghetto never leave the ghetto. Don't want to take away the work ethic but unfortunately for a lot of people it doesn't matter how hard they work, they won't ever as achieve financial success because how society is structured.

@edgar9739

2 жыл бұрын

@@KT-ed8hj nope

@Etatdesiege1979

4 ай бұрын

@@edgar9739 Keep believing 😂😂😂 We all know the economic system in the US is skewed towards the 1%.

Paid off our mortgage in 12 years & being debt free (no car or CC payment) in our late 30’s (8 years ago) is the absolute best decision my wife & I have ever made...😄

@jaybae7315

2 жыл бұрын

Good for you! Most people don’t get this until later in life.

My house was 228k bought in Dec 2015. I'm down to 58k. Hope to have it paid off by the end of 2021.

@dee.mrtinez

3 жыл бұрын

Wow that’s so awesome!!

@alexarihani2902

3 жыл бұрын

@@dee.mrtinez its paid off!!!!!

@5chermie

3 жыл бұрын

Congrats!

@tamitam8

3 жыл бұрын

Amazing!! Congratulations! 🥳🥳

@tamararene5913

3 жыл бұрын

@@alexarihani2902 congratulations!!! 💕🥳🏡

At 35 years old my husband and I got turned down for a mortgage and was super glad we did as we decided to build a house in cash on our own. Love not having a mortgage

If you read between the lines, Dave really wasn't concerned at all that they have a CC and pay it off every month. He could tell they were making good $ and were responsible. He says that as a blanket rule because the huge majority of people he deals with are financial "alcoholics" and have no discipline whatsoever and don't make that much $ to begin with.

@cameronw8930

5 жыл бұрын

Ryan De Witt Agreed.

@themasterteacher

5 жыл бұрын

Ryan De Witt man at 240k a year a credit card 💳 is negligible.

@randymorrison1761

5 жыл бұрын

@@themasterteacher you'd be surprised

@blockaderunner

5 жыл бұрын

Well he needs to clarify that then, each time, so there's no misunderstanding.

@bigrod1674

5 жыл бұрын

You all are justifying your credit card usage.

People like this make me really happy. Working hard, saving aggressively and not living far over their means. I wish all my clients would be like this! But then I would be out of a job..

@linglee5759

5 жыл бұрын

What job is that?

@DanielIles

5 жыл бұрын

Ling Lee I do financial and managerial consulting for businesses. I have a few videos on my channel that cover pretty much what I consult on.

@randymorrison1761

5 жыл бұрын

It's cool that you are learning still

@themontephone875

4 жыл бұрын

Daniel Iles - Small Business . Huh?? Mr. Iles, what are you trying to say?

@MJ-cf9nl

4 жыл бұрын

I can't believe you guys all fall for his bait scam

Just paid off my house on 13 March 2021. 30 year loan in less than 12. While it feels good right now to know that I’m paid off, I can’t wait to look back on this moment over the years to come.

@peartfaldo

3 жыл бұрын

Mine was on March 10th. a 20 year in 14.5.

@formula112967

8 ай бұрын

Great job! mine will be paid by August 2027 or sooner, cutting 17 years off a 30 year mortgage.

I paid a 25 year mortgage in 15 years - best thing I ever did. I love the security of being mortgage free.

@joehernandez550

4 жыл бұрын

Iain D., we owe 42k on our home; what's the way to go to have this paid off in the next 5yrs?

@fanoftoast

4 жыл бұрын

joe hernandez go get Dave’s total money makeover book. He’ll teach you

@biker3762

3 жыл бұрын

@@joehernandez550 save as much as you can dont but that 5 dollar cofee dont get that uber ways of saving it

@miketheyunggod2534

2 жыл бұрын

What about insurance and taxes. The state owns your home, not you. Don't believe me? Stop paying the taxes.

@martinezmartinez1132

2 жыл бұрын

@@miketheyunggod2534 stop pay rent and same thing happens...I rather pay taxes

We are just about to start on paying the house off. We are debt free except the house. It is really encouraging seeing how many of you have done it. I can't wait!

I love your videos Dave. Your a great example of what a human being should be.

@prajwalsharma213

5 жыл бұрын

Interesting name because I think Singh is a sirname

@Nexcue

2 жыл бұрын

I feel the same way. His teachings helped me break the cycle of generational poverty.

On my way to pay off our home.!! God bless everyone and keep fighting for your dreams. Thank you Dave.

@punknhead23

2 жыл бұрын

Great job! Paid mine off in 12 years at the end of 2020. It has been great!

Paid off my mortgage a few years ago. Just paying off small debts now. It's a good feeling

@booshting3520

4 жыл бұрын

@Sophia Smith Nope

Paid off house in 10 years and was able to retire real early.

@user-td7xf3gz4l

5 жыл бұрын

Wow! What's the value

@Sunflwrbtch

5 жыл бұрын

Nathaniel Carreon same here! How old are you?

@richardsanchez9190

5 жыл бұрын

That's what I'm aiming for I'm 31 have 4 years left to pay off house and I'm hoping to retire at 50 or 55. If that.

@EyeAmCoa

5 жыл бұрын

ALCAN52 congrats!

@arleneaugustahair8393

5 жыл бұрын

💃🏾💃🏾💃🏾💃🏾💃🏾 I know that’s right!

I love Dave's positivity in this video !

This might be your best advice yet ! ..thank you happy new year...paid off my home at 40 ...life is easier now.

im 24 and ive seen alot of woke news type of stuff trying to tear dave down. but hes the type of person young people like me need to be listening to! even if some people dont want to impliment all of his strategies, the idea behind them all is such a solid foundation for a financial and life mentality.

I'm debt free, bought and paid off my house in 5 years. I'm 46 and what a great feeling it is !!!

My friends said it was stupid to finance our house at ten years. Paid it of 4 years ago and they still have almost 20 years left. Not feeling so stupid now. Lol 😂

@peartfaldo

4 жыл бұрын

"Yeah...but now you have nothing to write off." Don't you love that one;-)

@dr.markevers8331

4 жыл бұрын

peartfaldo what is smarter, paying $20,000 in interest to the bank to save $6,500 in taxes or just paying the $6,500 in taxes? Grandma always said, “Don’t drop dollars to pick up pennies.”

@mr.boostang2064

4 жыл бұрын

Getting a house soon, already have a plan for paying it off in 7 years, everyone is telling me not too and that I'm stupid for spending most of my money that way. I'll see what they say when I'm 37yrs old with a paid off house 😎

@2dthoughts

4 жыл бұрын

Boostang 👍🏽👍🏽👍🏽 Anyone that thinks that’s not the best move is really bad at basic arithmetic or is a hater that wants everyone to make the same bad mistakes they’ve made

@Supertzar999

4 жыл бұрын

@@dr.markevers8331 It's smarter to pay the $6,500 in taxes. Same reason it's smarter to not invest and forfeit $60,000 earnings to save $20,000 in interest to the bank. Right?

$250,000 in CA is like $100,000 anywhere else.

@JDmix123

3 жыл бұрын

Ya it’s not much

@OCDTraci

3 жыл бұрын

No joke.

@MeredithElizabeth

3 жыл бұрын

So true

I just bought my first home a month ago, it's a small starter home 20 mins from work and in a quiet small town. I did 30 year to get my payments low, but I'm sending an extra principal payment on top of my regular payment every month. Projected to pay of in 10 years without any sort of lump sum (income tax refund, escrow, savings) thrown at it.

@tamararene5913

3 жыл бұрын

How's it going with the payments? Did you start on track?

@james4wd236

3 жыл бұрын

@@tamararene5913 Yes its been going excellent.

@mspikachu738

2 жыл бұрын

That’s what I do, I pay extra $150/mo

@formula112967

Жыл бұрын

@@mspikachu738 I pay extra $450/mo

@tcwagsmodelcarshop9373

10 ай бұрын

For those who pay the extra principal payments, instead of paying once a month try dividing that amount into 4, and pay that amount every Friday. I did this and it knocks the balance down a little bit faster. Debt free since 2019

I Paid off our house in 10 yr (at age 40) it feels great

Focused on the mortgage. I owe 112k as of January 1st. I'm trying really hard to knock that out in 24 months. Lord willing and the creek don't rise!!

@biker3762

3 жыл бұрын

thats the spirit keep it up

@LoveNLight1111

3 жыл бұрын

You got this!

@user-ku6fz1ki9p

2 ай бұрын

I understand where your coming from but you still have costly repairs and taxes people need to figure in its not the holy grail paying off a mortgage your in it for the long haul investment yes liability yes

2021, with the whole 2020 pandemic, I hope you people realized Dave was right. Always pay off your mortgage. Cash flow is king.

@punknhead23

2 жыл бұрын

We went down to just paying minimum mortgage early 2020 as our income dropped. Went into super saver mode. (We usually put an extra $500 on it monthly) After we figured we weren't going to loose our jobs and they actually picked up we went ahead and just paid the entire thing off at the end of 2020.

Successful people don't become that way overnight. What most people see as a glance of wealth, a great career, and purpose is the result of hard work and hustle over time. I pray that anyone who is reading this will be successful in life...

@geralyncainglet2626

6 күн бұрын

I want to compliment you, you have said it all. I am a little business owner and I really want to expand my business to the next level by making myself an investor but I really don't know how to go about it..

@kelseyeadelmarr6109

6 күн бұрын

imagine investing in Btcoin earlier.... You could have been a multi millionaire precently

@aprilclaudette2057

6 күн бұрын

​@@kelseyeadelmarr6109 You are right. Been thinking of going into gold and cyptocurrency

@kirstenraedmund7346

6 күн бұрын

Assets that can make you rich *FX *Btcoin *Stocks *Gold *Real estate

@Brookeinda

6 күн бұрын

You’re right but a lot of people remain poor due to ignorance

paid cash for our home 10 years ago in las vegas,nv. best thing we ever did.

Paying off the mortgage is as vital as having a running game in football. It isn’t the only way to win the game but it sure does make it so much easier to win if that foundation is set.

@brandonallen6062

Жыл бұрын

Awesome analogy and very true!!

@Therambler972

10 ай бұрын

Yo this is giving me 2015 Super Bowl vibes lol. Seattle had the foundation to win it all but they wanted to get cute with Russell Wilson throwing the game winner td and they lost it smh

I paid my house off in 2011, 100% debt free - It will change your life. Ignore Dave at your own peril.

@themontephone875

3 жыл бұрын

Ignore Dave? So why are you here?

@lrh411

3 жыл бұрын

@@themontephone875 Read the whole sentence, if you ignore Dave it may cause you peril... get it?

@BusArch42

3 жыл бұрын

Yup. We did too. It’s amazing how much you can save with no mortgage payment

I got married when I was 31 or 32 and my wife is 11 years younger. We bought an older house for $59,900. and have lived there for 36 years. We raised two sons, sent one to private school and paid our house off about 5 years early. I never made more than about $42K and I got hurt on the job and was forced out on a disability. That was twenty years ago. Our home is no showpiece, but it's got a good roof and a good a/c. We don't go out to eat much and pay cash for our vehicles, no cc debt. My wife still works and I have been collecting s/s since 02. I drive my trucks till the doors fall of before I will even look at a new one.

@formula112967

Жыл бұрын

Most women will leave a man if he gets sick or injured.

@naana-scelyne6370

Жыл бұрын

👍👍

OMG - we paid off our house in 10 years and never borrowed any money again. And now we are multimillionaires.

@James-ip5gz

3 жыл бұрын

Nice what do you do for work?

The way I paid off almost painlessly was to note how much goes to principal and interest each time. Principal is just a small % of the total at the beginning and that was the amount extra I added. The time to pay off was cut down considerably. It has been too long. I paid 72 for the home in 1976 and paid it off in `93 the same year my second graduated college. Was a great year and neither had student loans. I am 77 now and add $75,000 to my holdings each year. Children will be very rich some day.

@themontephone875

3 жыл бұрын

No. DR will not agree to that Now spend some on your self Children will get something later

@punknhead23

2 жыл бұрын

I don't think people always understand how mortgage interest works. Paying extra on the principal every month greatly reduces your interest paid. Great job!

I sleep much better at night without a mortgage!

@johnhwang339

3 жыл бұрын

Yup. Paid off my mortgage in January. Got laid off in March. Collecting unemployment. Wife is still working and medical insurance is under her. Son has distance learning for school so I can teach him. Established my own consulting business, but hard to get clients when businesses are closed or working from home. Paying off that mortgage was a massive weight off my shoulders.

@youtubecommentsgivemehope5449

3 жыл бұрын

Your words are inspirational! Keeping young people like myself working towards financial freedom!

@peartfaldo

3 жыл бұрын

@@youtubecommentsgivemehope5449 go for it. you can do it. remember...its not what you make...its what you spend.

@JKinLVN

3 жыл бұрын

@@johnhwang339 - Yep. With no mortgage, it makes it easier if you only have one income. Eventually, you will get a 2nd income when your biz takes off or if you get a job. Either way, help is coming.

Entering into a $300k first mortgage (South Florida) is scary thought.. But we’re ready for the challenge and to knock this out ASAP! All thanks goes to Ramsey and his advice putting me in a great position to buy a property here.

@formula112967

Жыл бұрын

Update?

@tcwagsmodelcarshop9373

10 ай бұрын

If it's any help, we paid off our 100k mortgage balance once the kids finished college in 2016. Took the college money and I paid $200/week towards the principal plus the monthly mortgage. Balance of 57k in 2019 wrote a check for 57k with cash reserves!!! BEST DECISION I'VE EVER MADE. TOTALLY DEBT FREE since 2019...

I sold my house right at the peak and made $235k. I bought another smaller house outright and I’m mortgage free🎉

I felt like Andy Dufresne when he escaped Shawshank when I paid off my home.

@5chermie

3 жыл бұрын

😂

@chrismendiondo

2 жыл бұрын

Haha. Get busy livin or get busy dyin

Takes me back to when my wife and I were young. DINKs with a cute little house. Sometimes we'd find one of her uncashed paychecks in the drawer because we had more money than we needed. And then we had kids. And now I'm always broke LOL.

@az21bob666

4 жыл бұрын

if you set your self up, so say you have kids at 30, you do everything to have the house paid off by then, make it a lot easier,

@77Tadams

4 жыл бұрын

InfamousCrimes lol. Dave Ramsey wouldn’t approve of your decision. He would tell you not to financially plan by not having parasites. Have as many as you like. I really don’t like that religion mixed in with his financial advice. But according to the indoctrination you are not complete until you have kids in his book....oh and go to church and tithe....a Christian church that is.

@logdon17

4 жыл бұрын

Kids are they are commonly known, I refer to them as Ferrari's which financially is probably still not even accurate

@logdon17

4 жыл бұрын

@@77Tadams Yea I also hate that. He would say oh yea give hundreds each month to the church but if you did that with a car you are insane.

@jeanconwell80

4 жыл бұрын

logdon17 o

This videos give me hope! I’m putting my mortgage plan on the bathroom mirror, can’t wait to crumble it like in Rocky IV 😂

Wife and I plan to focus on paying off our home. Today we made the first extra payment on our principal. It's a long road ahead of us. Sometimes I sit and imagine what life would be like if the mortgage was already paid off.

4 years left and I''m trying to live frugal. The bank let's me know if i need to borrow more money I can.... No thanks Bank, I've borrowed enough already

Thank you Dave!!!

There is nothing quite like having no debt at all. Sigh of relief when I paid off the mortgage.

@SillyGoose2024

2 жыл бұрын

your bank WILL be involved forever. You still have to make a property tax payment and pay insurance on the home in perpetuity. If you live somewhere like NJ or CA, you still will have a monthly payment of AT LEAST $600 a month, even with a house paid off.

I’ve only got £6500 left in my house, and double that in the in the bank. I’m tempted to pay it of now. My plan is next April, no fees etc. I cannot wait. I’ve been paying all my life and I really need this gone. I need to save and travel, see this world etc.

@steviejd5803

10 ай бұрын

So it’s gone! Feels good. So far I’ve had three pay cheques and not saved a bean, nothing, I’ve spent the lot. I guess I’ll settle down soon and start putting it into my S&P index fund. Probs diversify a little too.

This couple has it down! Good work.

About to start paying off a 204k loan @ 30yrs but attacking it as a 10yr at 2.625% interest rate in October. Using all you Success stories as motivation to knock it out. Hope to come back and make Updates as I go.

I just bought a house...my plan is to have it paid off in 5 years. my family is trying to convince me to "take my time" for the income tax deduction. I've tried to explain how stupid that is...then, there's the theory that you could be compounding interest in a Roth IRA, instead and getting the income credit...Maybe I'm crazy, in my mind, the best thing is to have an emergency fund & get the house paid off.

@themontephone875

3 жыл бұрын

They’ve lost their minds. They forgot that it was how it was years ago. You’re the new generation! Go for it!

@whynotnow9618

3 жыл бұрын

@@themontephone875 I appreciate the encouragement, because doing that on my single income is an enormous "sacrifice" that will mean choosing the mortgage over having & doing other things. THEN, I think about how great I will feel afterward & know it'll be worth it.

Paid cash for my first home. Still have it. Paying off the second now. Once I have that paid off, it's on to a third. I like real estate.

I live in Los Angeles. Thank god my family had some money, we live in a house they paid off. My dad still only has like 2 pairs of pants and drives a used Toyota. It’s important to save money. Only pay about 1000 a month in tax/HOA allowing us to put away about 20k a year. If it wasn’t for them we wouldn’t be able to live in a house in LA, good parts at least.

@MaggieClarkSLC

3 жыл бұрын

A nice honest answer. How refreshing!!

Thanks dave, every house in my area is over half a million dollars. And thats a tiny house with no property. Theres no chance for most of us and its the fault of our elders. Thank you.

Just paid of my house here Adelaide Australia 🇦🇺. The real estate market in OZ is crazy

She should plan for when they have children. Live on only 1 income. Having a child changes everything financially but its such a blessing.

The mrs and I were making very good money for a few years so we paid off our house in 30 months, it feel so good to be debt free.

@themontephone875

3 жыл бұрын

Wow! 30 months sounds much better than 2.5 years

Starting to add $500 on the principal payment this past month. Goal is to pay off our house in the next 10 years. Let’s go!

My answer would've been move out, add that cash to the equity, buy the next cheaper house in cash (what I did this year) in a different area to become debt free. You also make less money but once house is paid off the money accumulate much faster.

@maryc8530

4 жыл бұрын

Sang Kim housing in SD is so expensive, that your idea would be hard to implement. Her house is relatively modest in CA.

We are retired and paid off our house quite a bit before which allowed us to save. It is a really big deal to have thst freedom. If they can pay it off young it will be easy sailing.

Rental houses are not what people think. Trust me I have one. Everytime you turn around, it needs something.

@ladyoun4936

4 жыл бұрын

Joyce Castona

Bought our house when I was 24, will be paid off when I’m 40-42. The plan is to be able to retire by 55.

@themontephone875

3 жыл бұрын

You’ll pay it off before 29-what are you waiting for?

@austinselleck9484

3 жыл бұрын

??? I’d like to have some life with my terminally ill wife and one child. Not sure what you mean exactly. Life isn’t just about paying bills.

We were smart and had a 15 year mortgage. We paid it off about 5 years ago. Now I always get a warm, fuzzy feeling inside whenever someone I know is griping about their high mortgage payments.

Bought 2017 and reduced already by 110k. Should be possible within the next 7 years. Keep financial educated.

Great show! Congrats to Irene!

we just paid off our mortgage. things worked the way they did in 2004 and had an ARM until 2020 and never paid over 3.5%. i got a 15yr fixed at 2% in early 2020. we just paid off the house this month so we now have bumped our work 401k to 15% each, 25 or 30% of any work bonus. we have enough money (mostly settled estate from my parents) that were going to pay our daughter's Masters program as a gift from them to her. were going to need probaby 3-4 months of those previous payments for taxes and insurance. i need some sort of solid investment because my wife and i are both 58/59 and want to retire in a couple of years.

Recommendation of debit cards INSTEAD of credit cards is really bad advice. A typical family or individual can easily earn $1.5k+ in credit card cashback rewards annually and not pay any interest or fees as long as they pay their credit card balances in FULL each month. The much better advice that encourages accountability and ownership of monthly financial success is to put as many monthly expenses on a no annual fee credit card that awards generous cash back options and then take personal responsibility for paying the balances in full each month. The added security of being able to dispute erroneous charges on a credit card BEFORE the $$ are taken out of your account (unlike a debit card) is an added and very valuable bonus.

@jfp6400

3 жыл бұрын

Agree

@tdubshub63

3 жыл бұрын

It's a nice perk if you're responsible with a CC, but that is not the case for most Americans. The presumption is that you will have the money tomorrow to pay it of, but a job loss, an unexpected health crisis, etc. can throw finances out of whack real quick. So it's not a guarantee that they will have the income to pay off the card.

@davidw2857

Жыл бұрын

Pay out $100k in charges just to get $2k cash back? That sounds like dumb math to me.

I paid off my house when I was 37. but the house still doesn't belong to me . It never will. Miss a few yearly tax payments and the house is no longer yours.

Paying off my mortgage this week and still almost $500,000 in retirement accts. Will be finally retired next August at 65. Getting there- but it’s been a very long road. My hope is that people in their 30’s and 40’s are getting ready now and not waiting until it’s too late. My ss plus my retirement and a small pension will be more than enough with no housing payment!

I factored in 2 extra payments a year, divided it between the monthly payments (w/ extra going to principal) from day 1. I don’t think about it because I did it off the bat. Re-fi’d during covid for lower rate and now even more goes to principal. Will pay it more aggressively when I can. We can be creative. God bless.

This is great advice for middle class W-2 9-5 employee. Rich people build and grow business with extra cash flow then pay off their house. Rich people will never pay off a mortgage then start business. Funny how he always talks about his 10,000 millionaire study. When you are already a millionaire with a successful business then it’s easy to pay off your mortgage.

@davidw2857

Жыл бұрын

You make a premise that rich people are rich before they start a business, as in they inherit their money. The millionaire study showed that is generally not true; people can get rich through working OR starting and building a business; the mortgage payoff can happen anywhere in that process. There is no true correlation as you seem to imply.

$240k for a couple in the NYC area is middle class. A starter home in the surrounding suburbs is around $600k with $1,500/mo. property taxes.

@piperpompompurin

2 жыл бұрын

Move.

Thank you 😁!

I paid aggressively on my 30 year until I was happier with the amount going towards interest (reference amortization schedule). I currently pay extra each month but plan on paying base the last 10 years or so when the mortgage company gets very little of the payment.

We bought a bigger house and rented out our smaller house instead of paying off our mortgage at 30. Once that was done, we were still making enough money to pay down our mortgages, but at only 4-5% interest rate, we decided to max out our 401K and Roth contributions to the IRS limit, then pay for some of each of our kids' college through a 529 plan, then max out the 15% towards my company's ESPP, then by my wife's company's private stock offering, then make alternative investments (see what Reserve List Magic the Gathering cards have done since 2015 when I was able to start investing), always keep our cash reserve at the greater of 6 months expenses or 3 months wages, and still be able to send our relatives money when they need it (yeah, most US homeowners are privileged and don't do this). We make a very good amount of money a year, but we also live in one of the highest cost of living areas in the US. Not paying off our mortgage enabled us to make numerous diverse investments that return a higher yield than our mortgage interest rate, plus keeping the deduction. I highly recommend diversifying. If paying off your mortgage means more than 75% of your wealth is in one real estate property, you may find out like many did in 2008-2009 that real estate is far from a sure thing. Think like a wealthy person and diversify to reduce your exposure to a single industry/asset group. So far, by not paying off our 5% mortgage, we were able to use the funds to return an average of 16% over these past 6 years (not counting home value appreciation because that is the same) and someone is actually paying more rent to live in our smaller house than our mortgage. Legally using other people's money to build wealth for my family is a win. Another thing to consider, over the past 10 years interest rates have been at historic lows (~5%). It might not be in a year, it might be in 5 years or it might be in 10 years. However, if interest rates go back up to 7-10%, that 5% loan (and tax deduction) is going to look like a great deal. All you need is investment vehicles that can generate more than 5% over time. You don't want to go too heavily into stock or something, but the 30 year average in the market is over a 10% annual return. Not paying off your mortgage also means you have more liquid cash in case you can't sell your stock or alternative investments that you might already have. If you are not already maxing out your 401K/Roth contributions, or taking advantage of reduced priced investments, that is a really good 1st step instead of paying off your mortgage. Not saying it is right for everyone or even most people. It takes a lot of discipline to even get to the point of making the decision to pay off your mortgage or not. For me, taking advantage of low interest loans to help build wealth for my kids is what drives me.

@davidw2857

Жыл бұрын

This program is mainly for those who have had discipline and/or organization problems when it comes to finances. This system works for everyone, but nit everyone needs this system. It’s designed for behavior change; you seem to have always been disciplined, so good on you. Would just be wary about offering this advice to people who aren’t as disciplined and aren’t in control of money - which debt exposes that reality.

@MudassirAlics

9 ай бұрын

Great comment!!

In Romania and similar countries (poland, ukr, etc.), a 2-bedroom apt is 60-80k and you can live with 300-400 euros a month so..i'm so mad i wasn't born as an american, i'd have worked one-two years and then move to a cheaper country and sustain my whole life from it. With 200k euro you can buy 3-4 apartments here and rent each for 300-400 euro a month...

Great advice Dave

I only have 1 year left to pay off my mortgage, will be a nice 40-year old B-Day present to myself! Managed to take care of the mortgage in 10 years on a single income family of 4. I have enough in savings to pay it off now but it would wipe it out. So one more year isn't going to kill me to keep my emergency fund in place.🙂

I owe 10,000$ on my mortgage and am 35 year old ....yessssss