Don’t Let a Disaster Dictate Your Financial Reality | June 11, 2024
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- Опубліковано 10 чер 2024
- The Ramsey Show (June 11, 2024)
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Dr. John Delony & George Kamel answer your questions and discuss:
- What to do when you second guess your life choices,
- Mutual funds vs. index funds,
- "Should I save for a house or for a business?"
- Slowing down the debt payoff when life happens,
- "Should I break my lease if I can't afford my rent?"
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There's been a lot crying in the comments about Dr John, but IMO he's one of the best on the team, especially paired with Ken or George.
Agreed, but only when he stays in his Behavioral Health lane.
He’s a little coocoo but I agree he holds down the mental health lane
Start early with diversified investments in stocks, bonds, and real estate. Maximize contributions to tax-advantaged accounts like 401(k)s and IRAs. Regularly review and adjust your strategy to ensure security.
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
George ask all the right questions…it’s like when John says the craziest analogy that doesn’t fit. You can depend on George to bring it back!
1:46:50 Congrats Suzanne and Thomas on becoming debt-free! I know the desire for a nice truck. I drove a 93 Chevy Cheyenne without AC, radio, power windows, or cruise control for over 13 years. After recovering from house fire debt and paying off student loans, I paid off my duplex mortgage in 2019. During the pandemic, I saved for a retirement home, buying one for $160k in 2022 with a $60k down payment. I’m on a 15-year fixed mortgage and paying an extra $500 a month. By December 2023, I had saved enough to buy a used 2020 F150 Lariat 5.0 V8 with under 15k miles. It's the nicest vehicle I've ever owned. I lived like no one else so that later you can live and give like no one else.
I loved the straight hard facts John gave the caller who had 400k in student loans and that it was ok with making 60k a year. You could tell nothing they were saying was getting through to him. John was straight to the point at the end and called him out on all the BS he was giving. It’s what that guy needed to hear in my opinion. It might have come off as “tough love” but that’s the only way that guy was going to get it.
My chiropractor owns a paid-off house in Pacific Palisades, California!
So I'm sure that chiro couple can do better.
They make 120 together idk why john kept saying his income of 60k. Their combined income was 120k.
"Little by little the bird builds her nest "..they say in Lebanon..I like the little steps
My aged mom sold her house, my brother help invest it. Now she lives with my husband & I and she pays us $1000. a month. We take care of meals, driving her around taking her to appointments, etc we pay the utilities. She spends her $ on RX, clothes, eating out etc. It’s working great for everyone.
I'm in a similar situation. But I'm also trying to split his assets with his wife. She's not wanting to let go of the funds. The living situation is working out well though.
Where do y’all keep getting this “work at Wal-Mart for $17-20??!”. I work there now and don’t get paid near that.
George quoting that 57% of active funds beat the index in a single specific 12 month month period is, at best, obfuscating the broader point that over the long term (10+ years, which Ramsey Solutions says investing is for the long term) some 80%+ of active funds don’t beat the index.
And just like your sub unmentioned point of quote show me the link and show me the facts end quote, I give you that quote now. Show me proof that for not only the past 10 years but for the past 20 30 40 50 even 70 years that even 70% of the time or 70% of the index funds beat mutual funds consistently of all across the majority of those spans of time
They are so right I drive a 1988 used Ford Ranger for 9 years it was rusty and wrecked but it got me to work and back
Since mutual funds have fees they must also beat the market to keep up with the markets.
This kid is right but DR don’t make any money off index fund investments that do not require his paid recommendations.
EVERY recommendation they make has revenue for them. That's fine. That's business. But OWN it.
Matt you're going to do great in life!
Matt from Charlotte gets it!!!! This is the #1 reason Ramsey Solutions needs to stop carrying the 'managed mutal funds' flag. Poor George dodging, deflecting, and giving a statistic so specific to show that managed funds are better than index funds. Even George (deep down) knows that indexing and low withdrawal rates are the way to go!
So do you still call funds that you claim are the way to go, show me proof that for 80 years straight they have been the actual way to go. Go ahead we'll wait
@@motoryzen What George failed to mention was MorningStar's follow up to the report he quoted..."Morningstar calculated how many of the funds and ETFs in 2023 were able to beat their benchmarks over increasingly long trailing periods; Over the 20-year performance horizon, the success rate is as low as 5%."
Matt is far beyond his years unlike most of us...😂 This is why ppl like me who are learning (and there's alot to learn. ) have a fiduciary teaching and managing my mutual funds... and yes they need to get paid. Otherwise you can do automated with index funds with S&P 500 on your own. Either way is great as long as you understand and continue to learn how investing works. Great question!!
1:57:08 George misspoke about the gift amount. Each oatent can give both Mona AND her husband 18k each year. To clarify, per year, Mona's mom can give Mona 18k; Mona's dad can give Mona 18k; Mona's mom can give Mona's husband 18k; Mona's dad can give Mona's husband 18k; so, Mona and her husband can receive a total of 72k per year from Mona's parents.
Delony is genuinely bat poop crazy in the best way 😂
"Being crazy" is the only way people truly get their needs met and change the world for everyone for the better. 💗
I love Matt’s strategy! You can make more money faster with mutual funds than index funds. But in my opinion I prefer index funds any day of the week. You will save hundreds of dollars just investing in a brokerage account
Speaking of the father-son “go anywhere you want” trip… Dr. John just described the plot to A Goofy Movie… 🤣
💯 debt free and I absolutely love it!
Yeah idky Jon did all that for the first call and I’m happy George stepped in and just gave a straightforward answer.
Some mutual funds see actively managed. Vanguards s&p 500 mutual fund - VFIAX - on the other is not. It's no different than vanguards s&p 500 e.t.f. - VOO. This is where I differ from papa Dave. I'm perfectly comfortable investing in ETFs and index funds.
The truth is Dave Ramey gets kick back from promoting mutual funds
….INTERESTING
Index funds are mutual funds. Say managed.
This lady took Financial Peace University at 14 years old and every 2 years since, and yet they’re $27K in debt for a financed truck…. You can lead a horse to water.
80% behavior, 20% head knowledge.
@@jasonkobos3850 I'd say 60% behavior, 25% intellect, and 15% just plain ole luck. I have beaten the S&P by about 17% over the last 4 years. Quite a bit a that was luck.
Nothing she said added up, I think she was exaggerating.
Dream team!!!! What a FANTASTIC show today! Wishing all the callers peace and resolve! ❤
I thought they did a great job of working as a team today. 👌 Great balance.
Matt, if you DIY with index funds, then you won’t have the pleasure of paying an advisor a 1% AUM.
My advisor (who is not a "Ramsey trusted expert") is exceptional and has made more money for us than we could ever make ourselves. She's worth what we pay her. When we make money, she makes money.
@@Trustbutverify2651 I’ll assume you’ve calculated your IRR yourselves (net of fees and taxes) and compared it to an appropriate benchmark. If so, congrats.
Lol exactly. The majority of the mutual funds do NOT beat the index funds
For those who think a 1% AUM is worth it, learn to calculate your IRR (net of fees and taxes) and compare it to a relevant benchmark. If you’re beating it, congrats.
Also, to this comment, “When we make money, she makes money,” she makes money, darling, whether you make money or not, unless you’re on some kind of “two and twenty” fee structure, which I would highly doubt.
It’s not the index funds that have 12b-1 fees, George! Every time I replay this, something else stands out. It’s unbelievable. “So that [the 12b-1 fee] kind of makes up for, for the fact the, uh, mutual fund fees there.” Hahaha. What an explanation!
Wasn't sure if George was having a stroke or was getting fed bad info, but I had to rewind it when he said that. Not a good look when your financial experts are touting factually incorrect information.
I love the Ramsey show but I could not believe this was actually happening. Really George 12b-1 fees for index funds. I think he meant they are for mutual funds. That's the whole purpose of index funds is that these type of fees do not exist. I thought he was having a stroke as well. But once you dig yourself into a deep whole, it is sadly difficult to get out. Sad though that a 20 year old had more knowledge about this than George. Also to quote an any investment outcome over a year is ridiculous, especially when the mass majority of mutual funds failed to beat the market for the past many decades.
I still regret not going to a baseball game with my dad when he asked if I would go with him. I'd give anything to sit next to him in the stands eating peanuts and watching a good game of baseball. If your mom or dad wants you to go just go! One day your parents will be gone and you'll regret not spending time with them! Honor your father and mother.
Index funds are mutual funds. Let’s at least get the terms right. This kills me.
12:04 This is a good explanation of index funds vs. mutual funds and how they are invested. George gave an example of how managed and self automated funds work. This is good info especially for the young ppl starting out.
No. It wasn’t a good explanation. There are mutual funds that aren’t actively managed and are virtually identical to their ETF counterparts. They were talking about mutual funds like they are all actively managed.
It is terrible info for people starting out because it is clear that George has no clue what he is talking about. Index funds ARE Mutual funds, the only difference is active vs passive management and over ANY 10 year period over 80% of actively managed funds underperform their index.
The caller about index vs. mutual sounded ready to rumble! It's just about saving...try your best. No need to pick the Jets vs.the Sharks. 😂😂
To the chiro in New York-be the best associate you can be-go out and help bring new patients in the office. Be confident in what you do- learn everything you can from the owning doctor that you are with, and put it into practice where you are now. It sounds like you are working for a good practice. I would hope that your pay would increase as your patient volume increases. I am a chiropractor too, and I know that our pay, regardless of whether we are an associate or own our own practice, is dependent on patient volume. If you can do it well for your boss for a couple of years, you’ll be very well equipped to start your own practice and be able to increase your income more. And when you do start your own practice, get a business coach! You can be financially successful as a chiropractor. You are going to see miracles every day.
23:00 PA is not an expensive state to live in if you choose the right areas. So many affordable homes foe $160k. Heck, even a nice older 1920s home can be had for less than $100. Fix up over time and CHEAP taxes! $80k annual in PA is above the average income. And if you have no debt, other than a mortgage at 25% your takehome income, you can lice an amazing life! 🎉
I live in South western Pennsylvania and love all 4 seasons. Mild winters with light snow, warm summers with highs in the 90s at worst. Life is still affordable here, even if you're single, making $40k. And my God, the opportunities are everywhere.
Chiropractors always have high debt and low ROI on this show. Glad I went RN make 130k and way less student loans.
Chiropractors are not Medical professionals, in any way, shape, or form. You were smart.
SO many of them are barely scraping by, in large part due to the fact that many people look for a chiropractor later in life when they start having muscle and joint aches and Medicare reimbursement rates are abysmal. In addition, Medicare does not pay for the tests and x-rays a chiropractor usually takes before treatment.
@@mattlaeff724chiropractors aren’t medical doctors, correct. But they are as much medical professionals as ODs, OTs, PTs, pediatrists, RNs, CNAs, etc.
@@Kanuhandle0914 - You are clueless. I didn't use the word doctor -- they are not medical professionals. There is no medical evidence on earth, that supports the hack of cracking bones as medical. Do more research and report back to me in no later than 48 hours.
1:00:35 I LOVE Delony so much and Lance is a great sport! 🤣🤣🤣
Index funds are mutual funds, George. And honey, mutual fund fees (12b-1 fees, expense ratios, and transactions costs) are present whether funds are in a taxable account or not. Index funds, however, DON’T typically have 12b-1 fees, but DO typically have lower expenses ratios and less transactions costs than actively managed funds. This is fact, not opinion.
🍪
Index funds don't get turned over as much and they outperform most mutual funds in the long run
I'm not the biggest fan of Dr. John but having George on balances it out well 😊
George had absolutely no clue had to defend himself on the index fund call
It was painful . Watching it was even worse
First heard about this call on Reddit, honestly, it wasn't that bad. The young man will be just fine if he's inquiring about the inevitability of the demise of a long standing fund manager. I think George should have made a key distinction between mutual funds and ETFs. Mutual funds v. index funds isn't really a question as there are index mutual funds. The question should have been mutual funds v. etfs or index v. actively managed. I still cannot think why their aversion to ETFs. In Breaking Free From Broke his "cons" to ETFs were very short and included easier to trade (which is true) which may lead to more risky behavior. I don't see how trading intraday v. interday is all that much more risky tho. In and of themselves, ETFs are no more risky that MFs, and may be less so given they are more liquid.
@@AndyTargaryen that wasn’t the question nor was it the discussion. It was bad because George flat out didn’t know what to say. He hopped on his laptop because all he could spew was what he’s told to spew. The point is MF do not outperform the market; 95% of the time they do not. That’s the end all be all. That is what Matt was looking for. Instead they spun their wheels to save face. It was uncomfortable
@@BT-mc2yd I'm not a proponent of actively managed, just clarifying that there are some low cost index mutual funds out there. I know that's not their investment philosophy tho which is where it gets awkward.
@@AndyTargaryen That makes sense, yes. Wish they would get into ALLLL of it but they never do, it’s not their brand
Think it quite obvious what the alternative lifestyle is
A bit perplexed per se’ because I have been a listener since 2010. The Ramsey personalities that exist now are above and beyond. When I hear a caller that has an issue that a double PHD can handle, I am shocked at how many times Dr.John Delony is interrupted. He is the psychologist on board. Although some personalities might believe they are qualified to their opinions, rightly so, a psychologist with prior therapy experience can deliver a message from experience. Dr.John, please set some boundaries during the Monday morning meetings. As Rodney Dangerfield stated, “I get no respect around here.”
Yes- live in the present, preparing for a future that does not exist yet. But iwnt that what we're asked to do? Build your home on solid ground to withstand a "shake" that hasnt happened yet?
Chiros are qualified to teach anatomy and physiology, as well as kinesiology at community college and four-year colleges. Take the evening and weekend classes. My son-in-law is a chiro, but he also has a full-time job teaching anatomy and physiology in his local community college. That is possible even if he has a contract at the group practice.
I hope that people have life insurance !
Index funds ARE mutual funds. The difference is whether the stocks in the fund are based on a published index or picked by fund managers based on their own savvy.
Yes! It kills me how many people misuse these terms.
So, did I hear right that I need to contribute 15% to retirement while saving up my down payment for a home?
This real estate investor guy deserves to be single.
100% wrong that mutual funds are a better bet. He even cited an article that only covered one year performance. Higher fees are always worse. Historically they do not beat the market
Index Funds are superior to common Mutual Funds in the long term. In the short term (12 months as George pointed out) most do well. In the long term, Index Funds always win.
You have to deduct the brutal amount of fees of common Mutual Funds from their return too (management fees, administration fees, subscription fees, transfer agency fees, custody fees, domiciliation fees, etc).
Index Funds have way less fees.
Ramsey is only interested in promoting common Mutant Funds because they get a commission. That's it.
59:36
As someone who bought a duplex (first property) and lived in it while paying it off and now saving for a “dream home”, Lance, buy your wife a ✨home✨
These guys never understand what comes out of normal people's pay checks. Before I retired I was paying 22% nominal fed, 6% Virginia, 6% FICA, 15% 401k, and 2% for all insurances; that is a total of 51% so my take home was 49% of my gross.
Anyone else feel like the guys are pushing for a new Ramsey shirt slogan...."Get your wife a home!" 😂
LOVE George.
19:09 Stop trying so hard to defend mutual funds. Index funds are the geese that lay golden eggs
Mutual funds are usually pretty bad. No idea why Ramsey chooses to die on that hill.
The reason why they are stuck on mutual funds is that retail investing hasn't always been available so 30 yrs ago, it may have been easier to access a mutual fund and all they want is that you invest so they went the direction of least resistance. Because they've tried to keep their message consistent for years it is usually difficult for them to change their position on things. Have you noticed that now they ask, "what's your take home pay after deductions or after taxes etc?" That's because for years people challenged how they did math with people's income. It always seemed like they ignored taxes and other deductions on the income side and interest on the debt side. They've started to correct it slowly but the OG's will notice the difference. I can't wait for them to adjust the $1,000 emergency fund 🤞
George looking at 2023 with the actively manage mutual funds there is no reason to choose a mutual fund at his age
16:13 There is no reason you should be encouraging people to choose trad mutual funds over index funds. This 21 year old caller is clearly not gullible and has used deductive reasoning to make amazing decisions so far. Stay the course Matt.
Index funds are mutual funds. Let’s get that right first.
@@brianmcg321 yes, that’s why I said trad mutual funds. Maybe managed funds would have been better verbiage.
@@brianmcg321absolutely! I called them trad mutual funds, but managed funds would have probably been a better use of words. At the end of the day though, turn over ratios, fees etc. do make a difference which is why I don’t understand why they push managed funds so much.
Does everyone who calls in homeschool their kids? Well, perhaps not everyone, but there seems to be a disproportionate number of homeschooling families who call in vs people who send their kids to public or private schools.
Homeschoolers tend to be more conservative with spending, etc.
@@republicunited2183we’re smarter. Yes.
Well, more arrogant anyway.
@@notgivingmyemail3381Facts are facts.
Lance should buy his wife a home! She waited long enough. Listen to Dr John
“A good man leaves an inheritance to his children's children.” - Proverbs 13:22
George saying there's not a "right or wrong way to do it" doesn't align with the Bible nor Dave Ramsey's view as far as I can tell. The right way is to leave your children an inheritance. Unpopular opinion here, but even if they're not living right it's the right way to do it. The father is never criticized in the story of the prodigal son.
$25K on a coffee cart business - NO! $12K in one year ROIs the business in the third year!
Funny how some quote God honoring lives but they always forget Jesus and the prodigal son story. So glad you brought that into the answer. Love over all
17:20 I don't like what George did here. He cherry picked stats to prove a point. Nobody cares about who beats the market in one year; who can consistently beat the market year over year? Almost no one
Did you hear the entire segment?
@@BeeDee-qs9so 95% of mutual funds don’t beat the market over a 30-year period (Source: AE institute) and thats just one of many many studies and academic examinations of the returns of mutual funds vs the total market index and S&P. Mutual funds are stupid and the only reason they still exist is because people like Ramsey still shill them with their level 1 investing knowledge
@@BeeDee-qs9soIts true though. 95% of mutual funds underperform the market on a 30 year time frame. Source: AEI Study
Yes I did. George said 60 percent of mutual funds beat their index in a 12 month period. While that is true, that would only matter if you were only investing for one year which they and any financial advisor worth their salt have never suggested. The complete statistic on that matter is that while the mutual fund might beat the index for one year, almost no fund can do it consistently for multiple years. When the kid challenged him on that, he caved and said we can argue all day but you will still do well with an index fund so it doesn't matter what you do. The correct response would have been, you are right index funds are superior when you can get them. The reason why they are stuck on mutual funds is that retail investing hasn't always been available so 30yrs ago, it may have been easier to access a mutual fund and all they want is that you invest so they went the direction of least resistance
Yeah, George cherry picks stats and studies a lot to try and prove his point. Which is the opposite of what you should be doing.
Crazy that i just watched the episode where amber was pregnant and asked Dave how she could prepare for the baby. He told her basically the same thing. guess she didn't take the advice
George Campbell 😂
Just freaking invest 😂😂
Exactly!👍
I love writing stories, but i need a dayjob right now to pay for marketing. # babysteps
My two favorite.
Why don’t they just give $36,000 per year for just over 3 years?
Hopefully this isn't a full time position.
Shouldn’t be able to do a debt free scream if you still owe debt on the house in my opinion an I say that as respectfully as possible
Stop peddling mutual funds! SMH……..mutual funds do not outperform over the long term, the few that do manage to are near impossible to find. If you do find them the odds of them being the outperformers for the next decade is infinitely small. Otherwise great show guys! Love the show, minus investing advice
Wrong mine have for over 30 years. Learn how to do it
@@richardfederico9461 Post your positions then.
Plus, there's no "learn how to do it." The point of paying fees for managed mutual funds is that the "how to do it" is done for you.
Stop using the term mutual fund wrong.
@@richardfederico9461 pics or it didn't happen.
@@brianmcg321 actively managed mutual funds and passively managed mutual funds (index funds). That’s not an incorrect term.
América is another world. Im portuguese and here the income is so much lower...
Please don’t send the message for people to invest in mutual funds. There has been countless research, books and articles which goes against mutual funds. I love you guys at Ramsey but please don’t send this message. Index funds are the way to go.
Let’s start by using the term mutual fund correctly first.
@@brianmcg321 I agree. Just wanted to keep the lingo the same so my point came across better.
Lance, Cmon dude. Buy a house, and youre not your wifes father, shes your wife. Her vote counts just as much as yours. Youve been playing it your way for far too long. Way to many "I's" and "my" and "mine" words used instead of ours. Going to run your marriage into the ground, or at the very least have a very mediocre marriage.
Does Lance's wife work plastic if she's not pulling any level of her weight on or any clothing or near half of what is required for their household then I kind of diminishes her room for a vote
They wanted equality, now they have it. They claimed to be equal to men they can work the same amount of hours they can work the same hard shity jobs and they can make the same pay checks then
@@motoryzen you’re obviously not married. But thanks for your input
@Davefitz04 You're correct I have since enough not to put myself in a situation to where any time The female feels like it she can betray me And make up some whatever arbitrary asinine excuse For it meanwhile Has an over 85 percent chance more like 90 in the past two decades straight to rape not only my wallet but my life and family and divorce court When she feels like she's gotten all she needs out of me
Now if you're lucky enough maybe that won't happen to you. And I don't wish that upon anyone because I've seen what it does to a good man multiple times through multiple people that I have known for many years
I am not against the idea of having a girlfriend, but I respect the fact and caution always involving the fact that the courts will cater to the female the vast majority of the time just about regardless of the evidence presented in court and in some states regardless of the prenuptial agreement
So in all sincerity no bull crap no pointless negativity meant , there's nothing wrong with having two accounts in your name one that has both your name and her name on it which should be mainly just only for paying the household expenses for which both you and her are responsible for and or benefit from- utilities, rent or mortgage...food..etc -...
..... and one with only your name on it in secret and that way you can slowly contribute to that making sure that only you are the beneficiary or someone else that you deem trustworthy is also on that account and in case anything happens and she magically decides to change your mind and betray you and leave you and try to take half of what you have then at least you have an emergency fund built up over time to fall back on. Facts don't care about anyone's feelings on this in the United States of America women instigate divorce more than 80% of the time and out of all those particular situations the majority of the time they are betraying The Good Men again I hope for your sake your wife isn't one of those Diamond dozen idiot feminazis but there is nothing wrong with being prepared in case she decides she wants to go full tard and wreck your heart.. remember a piece of paper signed and enforced by the state or federal governments does not prevent anyone from betraying someone else regardless of gender regardless of age regardless of how one is has been raised
Dr Delony did not answ❤er the first caller's question. So much irrelevant pschobabble!
I heard him advise Anton to carry on with the successful career he’s created as well as to seek help for his trauma - which was obviously pretty profound. I thought their advice was really good.
This, is, painful. The 21 year old kid is controlling the call about mutual funds. Get Dave in there asap, for an expert opinion!
He asked questions that show a better grasp of investments than their average listener who's financially illiterate.
He's asking the most important questions. Dave's debt solutions are great, but his investing suggestions have been disproven by many reputable sources including other CFPs and CFAs.
It felt like George was reading answers on that one.
It seems like that because the 21 year old knows the facts and George is trying to justify the company's position. The truth is most, if not all mutual funds underperform in the long run when you account for fees. In a lot of 401ks, the only option is mutual funds and that's okay with the tax advantage. If you have the option outside a 401k, index funds win every time
The Ramseys and George should check out Eugene Fama and why he got the Nobel price.
Should you include an estranged and belligerent child in your will? NO!!!!! Both of my kids, now in their 30's have continued to express absolutely no interest in ever being a part of my life since the divorce 19 years ago. It took very specific court orders, and a heck of a lot of money, to even get supervised visitation when they were minors. Their mother did a number on them and they will likely always live under her evil curse. My wife and I had a will drawn up 5 years ago that specifically excluded my kids. Everything I have now will go to the step kids. Short of an open acknowledgement of the horrible way they treated me, they will remain excluded from any part of my life or death.
You sound like the common denominator LOL. Trust me, they don’t want your money. They’re happier without you.
@@BT-mc2yd My son acts like he is but he married someone just like his mom only not nearly as smart. My daughter, at 30, is still trapped in a mother/daughter cult and is not allowed to grow up. I fought hard to protect them. The people in my life today know who I am. Kids with a lousy parent still wish they could have a relationship if that parent would get their act together. Total rejection is unnatural. Never underestimate the power of an extreme passive aggressive narcissistic sociopath.
You pointed out a very specific aspect, so good for you. To disinherit a child, it has to be specifically stated in the will.
Thanks to all of you who have had good comments. I'm signing off from the show - just tired of the same advice regardless of the situation (much of it outdated) and it's clear the "hosts" think they have nothing to learn from the commenters, many of whom know more than they do in certain situations. Also pretty tired of all the psycho babble about "feelings: on a financial show! Just yesterday Jade was telling a future doctor AGAIN to drop out of medical school to raise money to pay cash - even though many of us on the show have said time and again NOT to drop out of any medical preparation that has a cohort system - the student will NOT be able to "skip a semester". All the hosts had student loan debt, and yet they're telling a future physician not to take on any student loan debt, even though if he avoids lifestyle creep and/or goes into the military his debt can be paid off very quickly. Best of luck to all of you who have had excellent comments - and also to those of you trying to get out of debt. Just keep some enjoyment in your life along the way. Life is not all about crunching the numbers on all your accounts every night. There are inexpensive ways to do lots of things without going off the deep end.
I wish you nothing but the best in your future endeavors and I genuinely hope you can find a better show that aligns more with your values! Personally, I still think you would like The money guys. They utilize CC’s and have different investing advice. They actually use charts and data to show where their advice is coming from. It’s a great show, and it may be worth your time. ❤
This is the worst idea ever. Apparently you didn’t read the fine print which states that once you start watching, you are IN for life. So we’re going to allow you a short break, but that’s all. Besides, I know you will miss us eventually.😊
Do you want to go to Ohio?😂
Matt is going to get humbled real quick in this world
Matt humbled George QUICK! George had to whip out that laptop
95% of mutual funds underperform the market over a 30year period (Source: AEI). The Ramsey Show gets paid to shill mutual funds from their “Smartvestors” . So suck a dick I know more about this than you do.
-Matt from Charlotte
Humbled by being right? 🤔
Asking a woman what she wants or to make a decision….
Matt lives at home with Mom at 21. GET OUT!
I’d say he’s smart. He’s working, saving money and she’s letting him. He will be able to buy a home in full probably fairly soon. As long as he’s helping with bills, groceries and stuff, who cares. If he’s living at home with no plan, that’s a problem.
@georgefloydvictims He wouldn’t have risked phoning if Dave had been there, because living with Mom would have been his first observation. There Are folks who live solely for the purpose of “disproving” anything and everything related to Ramsey Solutions and you have to wonder why on earth it’s so important to them to do so.
@@BeeDee-qs9so he was right. The internet even proves that, BEE. We follow Ramsey but even we know what he touts investment wise is for his benefit
@@BeeDee-qs9soill talk to dave any day of the week. I dont even watch the show i didnt realize dave wouldnt be there. Im pointing out that he is irresponsibly peddling a subpar investment compared to any broad market low cost index. Its misleading to push people into actively managed funds when 95% of them don’t beat the market after 30 years (Source AEI) . He gets paid to peddle these funds.
-Matt from Charlotte
@@thegsawhimself705 I am not actually even disagreeing with you. We have invested money in individual stocks [😱], and mutual funds including indexed, for years! I am saying that to expect George or anyone else on RS to suddenly change tune and contradict the Boss strikes me as a waste of time. I would love to know what George and others on the show actually have investments in, but Nobody who enjoys regular employment is likely to openly go against the “brand.”
George drinking the Dave Koolaid on pushing actively managed mutual funds.
Move to Ohio, get away from DC!
Too much George.
Blech -
1:57:08 George misspoke about the gift amount. Each parent can give both Mona AND her husband 18k each year. To clarify, per year, Mona's mom can give Mona 18k; Mona's dad can give Mona 18k; Mona's mom can give Mona's husband 18k; Mona's dad can give Mona's husband 18k; so, Mona and her husband can receive a total of 72k per year from Mona's parents.
What often gets left out by the hosts (because of what appears to be very limited understanding of tax law) is that giving more than the annual exclusion doesn’t automatically mean anyone is paying tax. Giving more simply counts against a lifetime exclusion amount. Gift tax return filed but not necessarily gift tax owed.