When my husband died suddenly my just knowing the basics wasn’t enough. The more details you can right down, consolidate information and simplify anything you can will be invaluable. My husband did a good job but it was brutal.
I think its great that you have found your niche and that you enjoy it. The fact that your baby just sat there was amazing, I think the sound of your voice calms him. You have a soothing voice.
We are almost done with mortgage Payoff 6 to 8 months tops. I just had the conversation with my wife that 401k might not be the best option. I feel you on that.
Being led by God is most important and that's what you and your wife do best, the proof is in the Freedom and blessings you have which you pass onto others. May God grant you and your family a very peaceful and prosperous 2023.
Dude. I loved your videos. We did something similar. Sold our house in idaho and bought for cash in Mississippi. We have a long way to go but a lot of hope.
To me, the Baby Steps are a starting place not necessarilly an ending place. I'm on BS 7. And I believe that now that I'm in control of my finances, I can invest in single stocks, if I want to. Or buy a car without debt. Or get a credit card and use it correctly, if I choose to. (correct usage means pay it off before interest accrews). And yes, the credit card companies will do what they can to bump you into debt. They're not your friend.
You're definitely blessed. Your child is precious! Fyi, the retirement goal isn't necessarily an IRA balance. It's dependable, semi-passive cash flow which exceeds your expenses. That cash flow can come from a variety of sources including real estate.
As a fellow Christian i can relate and appreciate all you've covered here. Are you able to talk more in-depth about the multitude of wealth building tools and different investments you've specifically tried and the Pros/Cons of each? Thanks for posting, Jereme!
Dave Ramsey developed probably the best roadmap for ordinary person to retire and be in good shape. People with bussiness skills of course can do even better no question about it. Imagine there is no plan like his… where would all these people were? Most of them probably broke and normal…
Issac is a sweetie! I live with my mom and as she is getting older we had this exact discussion about keeping track of her finances. Knowing what you are good at and then making your money work for you is smart. Love your vids, Happy New Year xx
The only thing what i dont do is paying of my mortgage early. currently on a 15 year fixed interest rate with 1,1%. SO absolutely no way to throw money on that, thats better placed in a MSCI World ETF.
when your making plenty of money or your not …funding a roth is a no brainer , so be had rentals for 20 years and every day when i look at my roth and 401 i have a huge smile - just like when i look at my long held real estate - do both - the s&p 500 is a long play guaranteed to pay off , just do both the market performs as well or better then real estate over time
I don’t think you’re letting go of the baby steps. Ramsey’s plan gives liberty to “invest in what you know” at step 7. Congratulations on killing it so far in your journey &
I was waiting to hear how you were leaving Dave's baby steps. You are not leaving just experiencing what all the steps did in your life. Title is a little click baitish..but I'm happy for your success through the Dave ramsey method.
I certainly hope you implemented idea 1. Your wife needs to be involved in the details not just the overall picture. Leaving all the money management to you is not adequate. Also heard too many “I’s” in the conversation…need more “we’s”. Your wife is your partner walking by your side.
This is so random, but I use the same pacifier for my baby. Where did you and your wife get the pacifier holder? I can't find any that fit that pacifier well.
Let me say this as a precursor: Although I think the Baby Steps are a great plan, as I Christian, my desire is to abide by God’s standard of stewardship, not Ramsey’s. I just happen to think the Baby Steps are a good and simple way to do so. That said, outside of avoiding stock market investing, I think the things you mentioned are all things Ramsey would promote. 1. What you talk about at 2:25 is what Dave calls a “legacy box”. Essentially he’s providing one place that has everything financially well laid out should something happen to him and his wife needs to begin to manage everything. 2. It may be a bit of a false dichotomy to put tracking spending up against budgeting. Ramsey promotes both. I do think your approach is different where you are essentially saying track first, then budget through tweaking. I think Ramsey would say you track through your budgeting. The only problem there, which I think you identified, is that it can result in discouragement when you fail to meet the budget early on while learning. 3. Also, it’s worth noting that adhering to rules while ignoring (instead of identifying) your internal motivations is an issue. I think you address that well in your “budgeting vs tracking” video. Identify your “why”: why am I doing what I’ve been doing and why do I really want to change? Ramsey does talk about this, though it might not be a direct step in the Baby Steps. My overall point is that I think you might be more in alignment with the Baby Steps than you might think. 😊 The divergence is really on about stock market investing. I personally think the stock market is valuable, even though it’s easy and a standard/boring/“safe” investment vehicle. More risk just means more to manage and if you’re comfortable with that, then by all means. Regardless, I think you both are in a great position to continue to build wealth, especially if you continue to pursue doing paid off real estate. P.S. if you interested in checking out a different, but similar plan, I’ve found Crown Financial’s Money Map to be very Christ-centered. That ministry and plan was actually the inspiration for the Baby Steps and FPU. I hope this doesn’t come off as combative. Just wanted to share some thoughts. God bless!
Excellent share! I also worked ALL the steps of Ramsey! Yes, debt free with research even into amount of “property taxes” that I feel comfortable paying yearly on my debt free home. Ramsey is a beautiful start & community for support. Sometimes, people graduate & move on 👍
You need to change the management company for your Roth to a self managed company. The costs are more expensive but they allow you to invest in ways you can’t thru a bank or stock account. You can buy art, gold, coins, real estate, etc. However, diversity in investing is important. Just real estate is not diversity.
Update is - I’m not going through with the airstream/tiny homes right now. I may just focus money into actual real estate (assets that appreciate in value)
Investing in the markets is one of those things late in life you regret not doing. People tell you to do it when you’re young but you never see the immediate benefits. Owning real estate is a tangible thing and you feel like you have something you can see, touch, and smell unlike stocks. I’m 56 so let me give you some advice. If you are young invest, buy a home, and in 10-15 years you feel comfortable then diversify and look at buying some real estate. Personally I would look at finding good dividend paying stocks and live of that and leave the headache of managing or paying someone to mange real estate.
Investing in yourself is the best investment. I wouldn’t stop completely with the stock market investing, now into the year is for getting stocks for a good deal. They are on sale.
We sold a 93 jeep and bought a 2015 GMC Terrain this week in Midland. Probably made $7,000. Just needs a few scratches touched up. We have 2 cars and debating on which one to sell...Buick or Lincoln.
I think investing is rather boring and should be simple, you invest and it grows not much else. It should not be a choice between investing in housing or the stock market. It could be both! It seems like you are uneasy and want to move to the next big thing. Keep investing your 15 % into the stock market and the put more into housing.
Not saying you have to only pick one. My point is to invest in what you like and understand. I understand both and may do both. So many ways to invest!
401k is great because of the match you get but the huge downside for me is that you can’t tap into that until age 65 without penalty. In addition, sometimes those 401k plans have high expense ratios and limited amount of index funds/mutual funds you can invest in.
When my husband died suddenly my just knowing the basics wasn’t enough. The more details you can right down, consolidate information and simplify anything you can will be invaluable. My husband did a good job but it was brutal.
Pinning this comment to the top! Hope more people read this and take the time to do this. Thank you for sharing, Nina!
I think its great that you have found your niche and that you enjoy it. The fact that your baby just sat there was amazing, I think the sound of your voice calms him. You have a soothing voice.
We are almost done with mortgage
Payoff 6 to 8 months tops. I just had the conversation with my wife that 401k might not be the best option. I feel you on that.
Being led by God is most important and that's what you and your wife do best, the proof is in the Freedom and blessings you have which you pass onto others. May God grant you and your family a very peaceful and prosperous 2023.
Love this, Carol! You are absolutely right. I just want to continue to be led by Him in everything, not just money.
Dude. I loved your videos. We did something similar. Sold our house in idaho and bought for cash in Mississippi. We have a long way to go but a lot of hope.
Praying you and your family are doing great. 🙏
To me, the Baby Steps are a starting place not necessarilly an ending place. I'm on BS 7. And I believe that now that I'm in control of my finances, I can invest in single stocks, if I want to. Or buy a car without debt. Or get a credit card and use it correctly, if I choose to. (correct usage means pay it off before interest accrews). And yes, the credit card companies will do what they can to bump you into debt. They're not your friend.
Isaac is adorable and totally chilled!! LOL! Great video!
Happy New Year to you and your family, keep up the good work God has your back.
Happy new year! Thank you!
You're definitely blessed. Your child is precious! Fyi, the retirement goal isn't necessarily an IRA balance. It's dependable, semi-passive cash flow which exceeds your expenses. That cash flow can come from a variety of sources including real estate.
Thanks, David! Agree 100%.
As a fellow Christian i can relate and appreciate all you've covered here.
Are you able to talk more in-depth about the multitude of wealth building tools and different investments you've specifically tried and the Pros/Cons of each?
Thanks for posting, Jereme!
Dave Ramsey developed probably the best roadmap for ordinary person to retire and be in good shape. People with bussiness skills of course can do even better no question about it. Imagine there is no plan like his… where would all these people were? Most of them probably broke and normal…
Isac's eyes and facial expressions are just like your wife's 🥰 it's like i would be looking at you and her doing a video together 🤩😍
I thought the very same. Such a great child too.
Haha… I didn’t notice it until now! Many people do think he looks more like her though!
Happy new year to you and your family, Jereme!
Issac is a sweetie! I live with my mom and as she is getting older we had this exact discussion about keeping track of her finances. Knowing what you are good at and then making your money work for you is smart. Love your vids, Happy New Year xx
The only thing what i dont do is paying of my mortgage early. currently on a 15 year fixed interest rate with 1,1%. SO absolutely no way to throw money on that, thats better placed in a MSCI World ETF.
when your making plenty of money or your not …funding a roth is a no brainer , so be had rentals for 20 years and every day when i look at my roth and 401 i have a huge smile - just like when i look at my long held real estate - do both - the s&p 500 is a long play guaranteed to pay off , just do both the market performs as well or better then real estate over time
I don’t think you’re letting go of the baby steps. Ramsey’s plan gives liberty to “invest in what you know” at step 7. Congratulations on killing it so far in your journey &
I was waiting to hear how you were leaving Dave's baby steps. You are not leaving just experiencing what all the steps did in your life. Title is a little click baitish..but I'm happy for your success through the Dave ramsey method.
realestate can work well, but a diversified portfolio of real estate and stocks is a plus,. both methods can fail (hurricane, stock market crash, …).
True! Anything can happen at any time. But I’m not going to let a negative mindset govern my decisions. I’m going to walk in faith!
I certainly hope you implemented idea 1. Your wife needs to be involved in the details not just the overall picture. Leaving all the money management to you is not adequate. Also heard too many “I’s” in the conversation…need more “we’s”. Your wife is your partner walking by your side.
This is so random, but I use the same pacifier for my baby. Where did you and your wife get the pacifier holder? I can't find any that fit that pacifier well.
We bought these - a.co/d/2Efao6F
Go for it Jereme.
You are wise beyond your years. My husband and I are in our 40s and we just sat down and did this.
You are evolving!!!
Let me say this as a precursor: Although I think the Baby Steps are a great plan, as I Christian, my desire is to abide by God’s standard of stewardship, not Ramsey’s. I just happen to think the Baby Steps are a good and simple way to do so.
That said, outside of avoiding stock market investing, I think the things you mentioned are all things Ramsey would promote.
1. What you talk about at 2:25 is what Dave calls a “legacy box”. Essentially he’s providing one place that has everything financially well laid out should something happen to him and his wife needs to begin to manage everything.
2. It may be a bit of a false dichotomy to put tracking spending up against budgeting. Ramsey promotes both. I do think your approach is different where you are essentially saying track first, then budget through tweaking. I think Ramsey would say you track through your budgeting. The only problem there, which I think you identified, is that it can result in discouragement when you fail to meet the budget early on while learning.
3. Also, it’s worth noting that adhering to rules while ignoring (instead of identifying) your internal motivations is an issue. I think you address that well in your “budgeting vs tracking” video. Identify your “why”: why am I doing what I’ve been doing and why do I really want to change? Ramsey does talk about this, though it might not be a direct step in the Baby Steps.
My overall point is that I think you might be more in alignment with the Baby Steps than you might think. 😊
The divergence is really on about stock market investing. I personally think the stock market is valuable, even though it’s easy and a standard/boring/“safe” investment vehicle. More risk just means more to manage and if you’re comfortable with that, then by all means.
Regardless, I think you both are in a great position to continue to build wealth, especially if you continue to pursue doing paid off real estate.
P.S. if you interested in checking out a different, but similar plan, I’ve found Crown Financial’s Money Map to be very Christ-centered. That ministry and plan was actually the inspiration for the Baby Steps and FPU.
I hope this doesn’t come off as combative. Just wanted to share some thoughts.
God bless!
Excellent share! I also worked ALL the steps of Ramsey! Yes, debt free with research even into amount of “property taxes” that I feel comfortable paying yearly on my debt free home. Ramsey is a beautiful start & community for support. Sometimes, people graduate & move on 👍
Excellent review and analysis! And I agree with the redirect to Crown.
What’s Dave Ramsey’s standard of stewardship?
You need to change the management company for your Roth to a self managed company. The costs are more expensive but they allow you to invest in ways you can’t thru a bank or stock account. You can buy art, gold, coins, real estate, etc.
However, diversity in investing is important. Just real estate is not diversity.
any update on your rv trailer airbnb business?
Update is - I’m not going through with the airstream/tiny homes right now. I may just focus money into actual real estate (assets that appreciate in value)
@@gojereme i was thinking the same thing, appreciation makes more sense in long term, unless you started with empty land, or camp ground
Investing in the markets is one of those things late in life you regret not doing. People tell you to do it when you’re young but you never see the immediate benefits. Owning real estate is a tangible thing and you feel like you have something you can see, touch, and smell unlike stocks. I’m 56 so let me give you some advice. If you are young invest, buy a home, and in 10-15 years you feel comfortable then diversify and look at buying some real estate. Personally I would look at finding good dividend paying stocks and live of that and leave the headache of managing or paying someone to mange real estate.
Just getting started on the steps. Lol dose he have grown up steps afterwards?
Wow quiet baby there lol..good to hear from you glad your doing well.
Now don't go buying to many houses lol.
What is social injustice?
I agree about the ira roth!!!
Investing in yourself is the best investment. I wouldn’t stop completely with the stock market investing, now into the year is for getting stocks for a good deal. They are on sale.
We sold a 93 jeep and bought a 2015 GMC Terrain this week in Midland. Probably made $7,000. Just needs a few scratches touched up.
We have 2 cars and debating on which one to sell...Buick or Lincoln.
I would not reccomend putting all your eggs in 1 basket, but to each their own.
First
Actually say what you got out of the video.
@@MinnieOnCam lol
Congrats nerd you win nothing…
I think investing is rather boring and should be simple, you invest and it grows not much else. It should not be a choice between investing in housing or the stock market. It could be both! It seems like you are uneasy and want to move to the next big thing. Keep investing your 15 % into the stock market and the put more into housing.
Not saying you have to only pick one. My point is to invest in what you like and understand. I understand both and may do both. So many ways to invest!
401k is great because of the match you get but the huge downside for me is that you can’t tap into that until age 65 without penalty. In addition, sometimes those 401k plans have high expense ratios and limited amount of index funds/mutual funds you can invest in.
In other words you're bored