Відео

Thanks for this. I appreciate your insight. Also, for the plug at the end for life insurance. My wife and I are expecting our first child in December and we are looking into life insurance. She doesn't have an IRA yet but I was looking into opening her a Roth IRA and contributing to it on her behalf. I already have one myself. But I've also been wanting to contribute to the brokerage account to grow our investments faster with a bit more liquidity than a retirement account. That said, do you recommend prioritizing maxing both IRAs before making contributions to a brokerage account? Thanks

Good job Candice!

I wish I would have seen this 6 years ago

Completion yes!! Yes solving your problem ! Yes your economy! This all bit me in but !

Okay but if Vanguard goes insolvent we will have a lot more problems then only losing our cash

Savings and emergency fund, down payment, traveling and vacations keep it in a Money market fund or etf heck even a high yield saying account. How long? Till you need it. Rest of money not going to bills food etc... put into stock market. Check out cshi for a money market etf type Voo for stock etf And this is where you start doing your own research. Me personally Savings into cshi Retirement into Qqqm Spmo Jepq

Many women put themselves in a great financial position by getting married, then getting divorced and using the system to build wealth. Men , however are just screwed by wealth, creating, let's say marrying women. Every single vid about a women creating wealth has a man financing it all due to divorce.

Zero? Yeah that's a problem.

Thank you for the information.

You are correct, unfortunately when a person marries, they loose their financial individuality. I was only married for 6 years at the ripe old age of 30 with 2 kids, I was pushed into financial responsibility. Financially it was the best thing to happen to me as it made me plan for my future. Broke my old age down to how will I get the care I need as I need it. You need money and a multi person dwelling home. I have completed the first part and am now ready to build a new home that has a self contained studio attached. Until I need care I will rent the studio out then when I need care, I will hire a carer that will live in the house and I will move into the studio. The provision of the housing will form part of their wage. We all need to think outside the box for long term care and make the most of what we have.

Find a river or lake house here in Arkansas.

What is the minimum years you would suggest to keep the money in money market vs stock market? Is it OK for me to save money in money market for Home purchase down payment in 5 years?

And all when I first got married I kept my wife home to take care of my kids then when my kids were old enough like 12 or 13 she got a job. That was 40 some years .

She wants to retire a if you want to work then you work. P what's the problem.

You all obviously live in your mother's basements spending all your time watching Tik Tok and posting on Reddit and have never invested. Dave did the world's most comprehensive study of millionaires ever and every single one has a portfolio of four different twelve percent mutual funds, they all draw down eight percent every year, live until 110 years old, and their sexual function gets stronger every year they are alive. You all are pathetic.

sorry. started off interesting but for me, once arrogant Dave Ramsey is mentioned, I'm outta here.

Total waste of time listening to this. It's supposed to be about retiring solo, but every other word is "spouse" this and that.

Nothing is a guaranteed safety net. That’s why you have to diversify your risk.

Long term medicaid is such bullshit

Audio issue in intro.

Will you do an entire show on social security. For example; When I can withdraw and how many credits I need to claim it. Benefits of taking it sooner vs later and when those would apply. Married, single, pensions

So front load it for early in year, and still get the total match of 6%. Not hard. 70% of my check is the max I can do with my company. I set it to 70% for 3 months and then drop it to 6% for the rest of the year. Best of both worlds.

The more I learn about the 401k, the more I think a max Roth and brokerage are a much better approach. The only time a 401k is the better option is when you know your tax rate at contribution is higher than the tax rate in retirement, but even then it becomes taxable income that impacts capital gains and social security taxes. The combination of Roth and brokerage would provide a zero amount of taxable income at retirement which would produce 0% capital gains in the brokerage and untaxed Social Security. Please let me know if I'm wrong.

1st Rick never mentioned he was doing the over 50 catch up. 2 you never explain what/why the difference of maxing out early between stretching out.

My employer in 2024 started a great program where they do a match true-up at the end of the year for those that max prior to the last paycheck. I used to go around telling everyone to not max prior to 12/31 for your max match. I thought this was a huge QOL improvement.

I would like to add, I max my 401(k) contribution early on as the company I work for trues up the match in Q1 of the year after you max it out. I like to get it out of the way and believe time in the market is better than timing the market.

Save money so that one day that money can save you.

Wrong. They have stood the test of time.

At last 12 years im at 11.5%

My mom just died on Sunday andshe has a reverse mortgage , dose the bank owned it

Well we are now at the start of next year RE HIS PREDICTION.., Still no slowdown or recession. HE IS A HACK ...........

You should also have figured your fixed income, and/or buffer savings, and budget, to weather times when the market is down. Also you need to have a lowest boundary, a number amount that you don’t let your portfolio go below. For example, in your example of the two people that started out with a $500,000 portfolios, if they both set in their mind that they would not let their portfolio go below $300,000 then when the portfolio got close to that amount they would stop or severely slow down their withdrawls. Part of good retirement planning should include budget planning. You should have a variety of budgets planned for, a good year budget, a bad year budget, a bare bones budget. You also need to look at your fixed income and in the years going up to retirement work to maximize your fixed income as much as possible. Fixed income being things like Social Security and pensions ( a bare bones budget should allow you to live on fixed income only). Your portfolio should be considered Variable income and used like a “bonus” when you do take money out. Also have a buffer savings account, this is not an emergency fund, but to be used as supplement if the market is down, if you can’t take money from your portfolio. Part of the big problem is that people want to spend too much in retirement, they buy too many expensive cars, take too many expensive trips. It’s not an income problem, but an output problem. I’m 70, been retired since age 67, have two people living on my retirement, and am doing ok.

So the solution is that before you take your yearly withdrawal to check and see what percentage your account made ( or lost) the previous year then decide what it is safe to take out. For last year my portfolio returned 26%, so I assume an 8% withdraw for last year is ok. One of my investments, an Index fund, returned 35% over the last year, boy do I wish I had more in that one than I did! The premise of Dave’s 8% remark depends on the structure of each individuals portfolio. The big question is : is the portfolio structured for maximum gains, or not?

Debt is how millionaires become billionaires. Wealthy people get wealthier by using other people's money. You guys clearly do not understand the basic concept of financial leverage

Are your end of life expenses covered? Do the dividends from your investments cover your needs and then some? If the answers are Yes, then you have no specific news for life insurance.

Buy a 30 year term life policy when you get married. Then every month buy one "stock" of the sp500 in a brokerage account. At the end of 30 years you won't need a life insurance policy anymore. If you did things right, you can use that money to retire early and wait to access your 401k until you reach the right age.

That bit about the 8% is for that guys individual case. They corrected the misconception another tike, but that one case was because the guy was already quite old

Dave makes millions off the stupid.

Davey is a swell fella. However he is wrong in that he only advocates with the US Stock Market. Its were his bread is buttered obviously. However he never advocates for commodities. Could be his downfall unfortunately.

Thank you for covering this call and a very important topic. I am hopeful that this call of mine leads to more productive conversations like this vs negative Dave bashing for bashing's sake. It is so important for us all to understand that unrealistic expectations with dangerous advice is not a way to understand or plan for our futures.

I ONLY CAME ON HERE TO SAY THAT I THINK YOU ARE WRONG TO FIND FAULT IN RAMSEY !

I would kind of think there are a other variables that need to be known. How old is the person with the IRA? Are they in good health? Is there IRA the only savings they have? What is their total yearly expense compared to the IRA total? What is their life expectancy today?

12% is not a stretch at all. Don’t blame dave because you cant do enough research to pick good funds. It’s not that hard. And no you’re not going to get 12% every year but the average over your career will be at 12%. You’re just using his name for clickbait to get more views.

Dave Ramsey is great for your average American that is looking to right the ship and get started with saving/investing for their future - pay off your debts and invest in good managed funds. He is not necessarily the best expert in terms of the next level of expert investing.

Dave is great for people that have no idea what they are doing. He offers a valuable service to those who have no control.

I agree, 12% annualized returns is not realistic and you have to account for taxes and fees. Also, the stock market performance we have seen over the last 30+ years was mostly through artificially low interest rates and endless money printing. National debt was ~$3T in 1990, where now it sits at ~$34T. By the end of 2024, we will be looking at nearly a 12x increase over the last 35 years. In order for you to get that 7.5% annualized return from the S&P over the next 35 years, the national debt would need to increase by 12x or more from here to there. That would be the end of the USD, folks.

Not long ago, I watched a George Kamel video (one of Dave R. disciples) where he professed that using an 11% average annual return was OK for projections. I commented, "Is presuming an 11% annual return on investment over a 25-year period realistic or is that myth # 6???" I was totally roasted in the replies to my comment! From my observations, it seems that every 7-years or so, vast chunks of moneys evaporate due to "market corrections", dropping that "average annual return" well below the rates professed by many financial advisors' recommendations. As a retiree, I am constantly amazed how the vast majority of investment professionals provide bad advice, or as you say, present "unrealistic expectations" for average investors. And before all of you internet trolls roast me again, I will just say that I'm not an investment professional, merely an old fart ACTUALLY living off of his methodical yet realistically projected retirement income, and not some currently employed Investment Professional or UA-cam professor, regurgitating unrealistic internet myths... Thank you for stating the truth here. Zk

Dave talks about averages. 12% is not a stretch in mutual funds. There are dozens averaging over 10%. These guys are chopping up Dave’s words.

he did say "over the last 80 years"

Unfortunately these guys are spot on. Following Dave Ramsey's system changed my life and I would recommend it to anyone regardless, but the predictable, consistent 12% mutual funds he insist exist do not exist. I went to several ELPs and found one that claimed they found out exactly what mutual fund company Dave has (Capital Group - American Funds). Average returns (after fees - very important) across the board were around 8-9% across all mutual funds. Some where higher, some where lower, but it's all a guess. No one knows which one is going to be the best. 15% into retirement is still an optimal number to put into retirement. However, I would strategize with your FP and assume the 4% rule is a much safer measure of your retirement income if you want to ensure long-term stability of your nest egg and pass on a financial legacy to your children or institutions of choice.