Can You Still Be “Successful” Only Making $35,000?
Вставка
- Опубліковано 27 лис 2024
- 💵 Start eliminating debt for free with EveryDollar - ter.li/3w6nto
📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or send us a message - www.ramseysolu...
Next Steps:
📈 Are you on track with the Baby Steps? Get a Free Personalized Plan - ter.li/5h1r0i
📱Download your free Ramsey Network app today! - ter.li/cvqzyb
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ ter.li/rqwdws
🍸 Smart Money Happy Hour ⮕ ter.li/tmj3vq
🧠 The Dr. John Delony Show ⮕ ter.li/s5yazz
💰 George Kamel ⮕ ter.li/dc2gee
💡 The Rachel Cruze Show ⮕ ter.li/a6emrr
💼 The Ken Coleman Show - Highlights ⮕ ter.li/v8n4u8
📈EntrLeadership ⮕ ter.li/g7s9g0
Ramsey Solutions Privacy Policy
www.ramseysolu...
Product Links:
Total Money Makeover: store.ramseyso...
Questions for Humans: Couples store.ramseyso...
New! 2025 Ramsey Goal Planner: store.ramseyso...
EveryDollar Premium Version Physical Gift Card: store.ramseyso...
Baby Steps Millionaires: store.ramseyso...
Building a Non-Anxious Life store.ramseyso...
New! Breaking Free From Broke store.ramseyso...
New! Get Clear Career Assessment: Find the Work You’re Wired to Do store.ramseyso...
Know Yourself, Know Your Money store.ramseyso...
I make 36k a year in Houston Texas my rent is $800 I’m 100% debt free. Saving a down payment. Not successful but aiming for it.
I wish you the best! I’m in Houston as well. Renting a room for about $600
@@peter-jm1puthank you it’s tough staying disciplined
You are successful. Being debt free and that disciplined is a great success. Those successes will stack on themselves and you will get to where you desire to be.
@@SpoonHurler thank you 🙏🏿🙏🏿
You are successful! You’re saving for a home, disciplined and out of debt. You are in a better situation than many people earning 5x what you make. Keep up the good work!
This was a good video and more down to earth with the average Joe. Tbh I am a little tired of the videos with households earning 150/200k per year and then struggling to clear 80k debts
Most of Dave’s callers make up fake salaries or they are rich people because rich people obsess and love money. If Dave was a true Christian which he is not, he wouldn’t talk money all the time and he would be so cocky and mean towards all his callers.
@@Piccolo_Rethey have to be making up salaries. Every single caller either makes over 120k or have inherit some small fortune and they still struggle to pay debts. Lmao
Me too. I love this comment.
@@Piccolo_Re Not necessarily, sure there may be some that might fake some numbers but there's still plenty of us around that do actually make those salaries (believe it or not). You could argue that the people who have been following Dave for any amount of time are go getters and trying there best to get these high paying positions to be able to set up themselves and there families well. It's not that hard to imagine.
@@truckerstar24It's actually extremely easy to be making six figures and be in horrible debt. I think the big thing people forget is " lifestyle inflation" where people make more money just spend more. That doesn't have to mean shopping at Prada or buying a Lamborghini, even just going out to eat every other day can rack up really really fast, as can buying a Toyota Camry with some extra features. If you have kids, forget about it. There are all kinds of local entertainment options which, if you're not careful and budgeting, we'll wipe you clean real fast.
Fellow Hoosier, the most I ever made was 40,000. I am content, single, live a little frugally, and life is good! And yes I save money.
Being dirt poor in Texas, my mother told her children to finish high school. She also told us to buy a house. At the age of 21, purchased a one bedroom home for $2,400 cash. At age 26, I purchased a fix it up two bedroom house for $6,000 on 1/2 down and payments. At age 28, I purchased another two bedroom house for $12,000 in payments. A year later I was divorced and one house was given to my wife.
In others years I started a video/ photography business on weekdays. ( ❤Which I love doing.❤) Many wonderful experiences. 🤗🤗🥰🥰
At my regular job my supervisor was angry because I didn't get a larger raise, I told him, " Don't worry, I can get a raise just by getting another customer.
I was mading a week's wages on one Saturday.
Don't settle for just the job you have. See what you can become!
Retired Videographer/Photographer❤❤
❤❤🇺🇸❤❤
Go Ken! He finally got a backbone and pushed back on Dave's comment and was able to express a complete thought😂
It was definitely an interesting moment. I thought Dave was going to throat punch him. 😂
@@zachparade2791 🤣🤣🤣
Good to see people stand up to Dave
Yeah he finally pushed back and expressed a completely stupid thought.
@@FTYC2022he getting fired tomorrow
Wow they actually took a call from an average American instead of the idiots making $200k a year and saying “Dave we are broke what do we do” 😂 $35k is reality for more Americans than not. Hell half the wages out there don’t even reach $30k
more Americans than not????
$55K is the median wage.
@aolvaar8792 I live in south western Pennsylvania and that is a reality for many people in our rural areas. And it was my reality for most of my working life. I averaged $34k as a restaurant manager from 2009 -2018. I became debt free in 2019.
I believe it. Do you watch Caleb hammer? Most folks are not earning 6 figures.
50k is the median salary
A massive mistake people make is to say they earn $50K. That's your gross salary but not your net so you do not live on $50k but less after taxes. To have $50k net your gross salary would be higher. It's the net that you should budget and plan with as that's your take home pay. Work in Finance and it's a pet peeve that people base their budget and lifestyle on their gross and not net.
61 yrs old. 35,000 in a crappy job. Good health, great kids, grandchildren, large house 3 vehicles. No debt. I’m happy to soon retire collecting SS with my little nest egg gardening in peace in my own back yard!
First time I hear Ken grow a pear and challenge Dave’s thought. Good for him! Dave’s reaction was irresponsible and judgemental. I do agree with the overall point though. You don’t necessarily have to take a lower paying job to “help” people. But Sometimes those lower paying jobs gives you access to the demographic of people you want to help. And if you choose that, that’s ok, you “don’t suck”.
"grow a pear" LMAO
Ken could not do it to Barbie, so why not to a Dave?
he needs to grow up. why tf is he calling in? there's 24 hrs in a day. he wants to sit around 8 hrs earning $16 an hr? LOL
nope Ken is the worst and I hate every time he speaks.
Grow a pear gives new meaning to 'fruit of the loins' 😂
Just because you don't climb the corporate ladder does not mean you are dumb. With all of the headaches that come with climbing the ladder sometimes it's just not worth it. Twice in my life I "progressed" and climbed the ladder and both times I have come to find out that between the stress of trying to do the impossible and being held accountable for things beyond my control, I have learned that I would rather live on less and be happy than make more and be miserable because no matter how hard one tries, it is a lose lose situation.
You are a wise grasshopper.
You need to climb SOME ladder - either a corporate one or one you make for yourself. But you need to be off the ground.
Any job is subjective, you are playing to another's vision. So no, failing at doing that states nothing about you.
Climbinng the ladder is tied to back stabning and lying. No thanks😂😂
@@nikolaig1then enjoy sleeping in the dirt while the rest of us enjoy the penthouse.
There absolutely nothing wrong with living a modest lifestyle just as you get older you realize how precious your time is. If you work for a company for years but they don't give you a raise well hate to say it but you're getting screwed.
I like Ken's response and also the debate and clarification of explanations of both Ken and Dave. Personally, a short answer I would give: it depends if you are able to be frugal enough on your lifestyle and invest early enough in your younger years at a consistent amount to allow you to live a comparable lifestyle, when you were working, but during your elderly years when you are not working.
For majority of people, I would say one probably needs to be making $60k, especially since we live in a devalued dollar and with so much inflation.
I used to make fun of Ken, but he really did a great job this time. Good for him.
He is “Kenough” lol
Dave is right. Poor is a mindset. Broke is I’m passing through. You won’t be a broke person forever if you work hard and progress.
Ken is the BEST Ramsey personality.
Ken put Dave's butt in line! Also, Ken, using mother Theresa as an example, was awesome. He knocked this topic out of the park today!
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively. - Bob Marley
And wealth helps having that positive impact on those around you.
Tegrity
That shit doesn't pay the bills!!!
Interesting. Bob Marley had a net worth of $11.5M at the time of his death.
@@youtubekeepscensoringme3357paying bills =/ greatness
I can answer that. I was on $40k. Lived even below my means. Delayed gratification. Bought literally nothing. Lived on used and donated clothing and saved up 100k. Now I have a job on weekends only and I have an online business getting passive income.
Invest 100K in something making 8% and you probably would not have to work part time on the weekends.
@@wewhoareabouttodiesaluteyo9303 still gonna have to work...while you let that money grow you still need some cash flow for monthly expenses
I started at $31k busted my butt and earned promotions now I'm making 6 figures.
My wife started at $27k cleaning hospital rooms and kept her eyes open to opportunities, got into phlebotomy, was a top performer, earned her way into a nursing program. Now she has her M.S. RN making 6 figures, nursing school was mostly paid for by her employer, she has her first year NP school paid for on a 70% scholarship. We only paid 30%.
Its not where you start, its where you endup that matters.
Work hard. Keep your eyes open for new opportunities. Keep moving forward and up.
Pfff, in 15 years of working since I was 17 because I was orphaned, I literally never been or seen anyone get a promotion!!! One company I worked for went through 2 huge acquisitions in a years and nobody got a promotion or a decent raise.
@@youtubekeepscensoringme3357if your not recognized and given increases for your hard work leave and move on.
You are an inspiration. ❤
That's how its suppose to be. Progression. Your not suppose to make 35k your whole life. If that's happening to you, you need to seriously reassess your life.
@youtubekeepscensoringme3357 , you gotta hunt out the opportunities, you need to be willing to drop the company you are working for and move for them.
A buddy of mine worked for the same company as me, originally we worked in the same department but I left for a better opportunity in another department. He stayed, they mistreated him, he got polished up his resume and it took him over a year but he found a job with a new company making double the money.
He had to move his family 500 miles away but now he is doing awesome. Loves the new job.
The key is to be willing to leave your job for new opportunities.
Keep building your skills and resume so you are more and more valuable.
If your company won't pay you what you are worth don't be afraid to jump ship.
I'd say at least 40% of the people I work with leave to attain promotions with other companies and advance their career. 30% wait around for someone to retire to get a promotion. The other 30% just keep their head down, do their job and never pursue promotions.
You need to be actively seeking out opportunities. It is very rare that anything will just fall in your lap.
There aren't enough advanced positions for everyone to get promoted. Like in your case, it sounds like the company isn't run well and you have some big conglomerates buying and selling it trying to shake whatever profit they can short term. They don't care about the workers. You'll have to jump ship to find a better situation.
The most important thing in the world is Time and what you choose to do with it. It’s not and never will be money
Saint Alphonsus said the same thing. Time is a treasure that we only have in this life.
Do some side work. I'm in Chicago making $40k, but I also have income from filming weddings & UA-cam & and rent from a paid off condo.
People also forget how good we have it today. Life is easy. Even when you are "poor", the standard of living has increased so much that people take basic things for granted.
I began my investment journey at the age of 33, primarily through hard work and dedication. I am to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
This is superb! Information, as a noob it gets quite to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $500k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
wow that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio..
Do you mind sharing info on the adviser who assisted you? I’m 40 now and would love to grow my stock portfolio and plan my retirement..
It’s not how much you make, it’s what you do with the income.
Exactly. 35k is a lot if you live in a minivan which I may do when I’m older
Loyalty and integrity and living within your means is more important than net worth.
Dave he might have a job he loves that will only pay that much. A more practical answer might be off you choose to do that job you love, maybe you find a side hustle to augment your income so you can do what you love.
I think Dave misinterpreted the question. It triggered something inside of him. The man was looking for acknowledgement of his realistic situation and looking for encouragement/guidance. Not everyone has a two-income household and not everyone makes a ton of money or is given increase financially.
The Ramsey personalities get triggered often. Just watch whenever there's good news on student debt relief.
See Dave's point, which is correct in theory but the caller was looking for an answer to his relatively simple question based on the most likely reality, not the extraordinary exception. Just the way the world is: a public defender makes less than a prosecutor in the legal field. Yes, Elton Musk became a billionaire doing what he loves doing but that is the exception, not the norm everyone should use as a blueprint for life.
@@stevenporter863 exactly. Some jobs just pay less and don't have room for advancement. But it doesn't necessarily have a reflection on the person who takes the job or even stays in that job.
What a good answer by Ken. Dave's point was correct but not quite to the caller's point. I wish that they had given the caller a chance to state his situation. I assume that he works for a nonprofit or the church. Unless that is the case, I would say he's wasting his time. 35k a year is barely above the poverty line. How can he get through the baby steps making peanuts? He'll never be able to pay the mortgage early or invest for the kids' college fund, let alone invest retirement unless his wife works as well. This call is frustrating to me because I used to be in this income bracket. The baby steps assume an upper middle-class income which could be one of their weaknesses. I had to a few job changes and now I make six figures, which was the only way I was able to get through the steps. It's good to hear both Dave and Ken acknowledge the worth of someone like Saint Mother Teresa though who gives her life for others.
One of the reason Jesus was murdered was cuz of money ….these soo called Christians forget that
In short, success is different for everyone. Go find it out for yourself.
I'm 100% disabled "unemployable" veteran trying to pay of my debts and save for a newer rv. My goal is to be able to keep my condo (home base) and be able to travel in an rv with my 3 cats. But I'm 60 and not sure I'll be able to save enough without getting a loan while I'm still young enough to travel. I already lived and traveled fulltime in a motorhome. Now in the condo trying to sell and payoff the 2005 motorhome that needs work. And save for a newer one. My dream way to travel is a KZ 382MBQ and a 1 ton diesel dually. But I know I'm to old to save that much $. The old motorhome and condo are my only 2 debts. Paid my other 2 debts since I started watching this channel.
How is it being limited to that fixed income? Do you feel like its enough? Fellow Veteran here.
Can you rent out your condo while you travel to make more income?
The problem with Dave's answer is that generally speaking, the jobs that pay more ARE the ones you're not going to like. The most unpleasant jobs usually have the highest pay. If you can find a job you love that pays well, that's great, but it's also somewhat rare.
Agree, I thought the same thing.
See Dave's point which is correct in theory but the caller was looking for an answer to his relatively simple question based on most likely reality,, not the extraordinary exception. Just the way the world is: a public defender makes less than a prosecutor in the legal field. Yes, Elton Musk became a billionaire doing what he loves doing but that is the exception, not the norm everyone should use as a blueprint for life.
Not necessarily. I make more than I ever have working 40 hours a week usually. And I make more money than I ever have.
@@mormril Depends what you are doing. I would guess it is specialized at least that a high school kid couldn't do it as an after school job 👍
Good point
And Dave would say..."YOU SUCK"!!!
I have to disagree with the “you suck” if you don’t get a raise because some jobs it doesn’t matter if you are good at your job or not you will simply be stuck where you are.
You may not suck but you are getting screwed over
Then you are stupid for staying there. If you don't get rewarded for improving or experience then that's a stupid line of work.
You suck at choosing an employer then.
I think in this context, you suck means you aren’t applying yourself to get to a higher level
Dave is out of touch with reality and today's job market. He hasn't had a real job in 35 years.
I could see Dave rubbing his moustache in anticipation of putting his differing view in, and he and Ken nearly crossed wires a bit. This is what I like to see. Different approaches. You two make a great combo.
Wealth and income are both relative to expenses.
If you are debt-free with under 35K in taxable income, you can save
20% of your income in a Roth IRA, you will be financially secure by the time you retire at age 70.
Our maximum joint, after tax income was 58,000 and we were debt and mortgage free with paid off house and pensions and retirement savings at 55. Plenty of people with big incomes who phone in are over spending and not saving.
That's almost double the $35k the caller mentioned.
@@Excalibur2 well done, good maths.
@@FrugalQueeninFrance I'd recommend they make more, getting ahead on so little is hard, I disagree that they just need to spend less.
@@Excalibur2 not disagreeing
@@FrugalQueeninFrance oh, I just misunderstood your comment. Have a great day :)
I'm on $23k Australian money and can live really comfortable rustic house in a small country town of less than 500 (bought house for 95k in 2020, worth 160k in 2023) lease out the spare room for 130 a week. Mortgage was 55k now owe $4,900.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.
For a successful long-term strategy you have to seek guidance from a broker or financial advisor.
With the help of an investment advisor, I was able to diversify my $550K portfolio across multiple markets, and in just a few months, I was able to earn over $950K in net profit from high dividend yielding stocks, ETFs, and bonds
Pls who is this coach that guides you? I’m in dire need of one
My consultant is Nicole Desiree Simon She has since provide entry and exit points on the securities I focus on. You can look her up online if you care for supervision.
I Found her online page by searching her full name, I wrote her an email and scheduled a call, hopefully she responds soon. Thanks
It really chaps me when a person starts with the sanctimonious line about " Well it depends on how you define wealth." This is THE DAVE RAMSEY SHOW! Dave is about building wealth. He is about advising how to be Mother Theresa! It was a pretty simple question that this doofus with Dave turned into some freakin' "teaching moment". Listening to him, I felt just like I did when I got dressed down by a teacher. Blah, blah, blah. Won't answer the question, nope, but we use it as a teaching moment to show how dumb you are and how smart the teacher is.
The simple answer is, yes. You have to be very, very disciplined and sacrifice things along the way, but you can build wealth on $35,00 annual income. I recommend the first thing you do is look at your payroll deductions. Make sure you are bringing home as much of that $35,000 as possible.
Ya, Dave was dancing around this. He is more used to someone making $250k complaining they are broke and the fix is to downgrade to just two BMWs and cut one of the vacations out.
@@stevenporter863 Ken is the one who was dancing around. Maybe you missed it. Dave brought common sense and Ken brought his usual stupid talking points
Miss the solo talks with Dave Ramsey himself. Bring that era back.
Miss the Dave Ramsey show
I also liked when it was him and Chris Hogan
Agreed. But those days are gone. All you can do is watch old episodes.
The days when Dave worked five days a week will never return. Would be nice if Dave hosted solo one day a week though.
The definition of wealth is not related to your job or life calling. Wealth is when your assets create enough for you to live well without working a job. The definition of success is not the same as wealth.
The definition of success depends on your goals. If your goal is to be wealthy, then yes it is the same.
If you are single, young, with zero debt, $35,000 is quite good. Anything else is trouble.
But that would mean you would have to find somewhere to rent for $1346 a month. You would then probably only have 15% as investments (which would go towards food and everything else). 25% is going to taxes and insurance.
I've worked nonprofit (domestic violence and sexual assault counseling, suicide intervention, etc.) for over 20 years. Dave's remarks about it being a "dumb" choice unless you couple that with going big for major money is crap. Yes, I don't make what I could have, but money isn't everything. I'm glad Ken balanced Dave's statements. Dave went on to jump on the $35k with no increases being dumb - blah, blah. The caller gave a salary example, not indicating that it would never increase. Dave was grabbing at straws to get to chant his usual 'dumb choice' and 'stupid' remarks for clicks. I agree with Dave's baby steps and all that, but Dave needs to chill. A person can live a healthy and meaningful life without incessantly chasing more money forever. I've found the other Ramsey personalities for the most part are more meaningful and relevant. Dave has helped thousands of people, but seems to more and more just be waiting for a moment to jump on his cliche rhetoric.
I got laid off from a big corporate company making great money and I am now in a government role making much less, and I love it a lot more. It's not always anout the money.
Plus the pension. Rare at a corporate company.
2:40
See Dave's point which is correct in theory but the caller was looking for an answer to his relatively simple question based on most likely reality,, not the extraordinary exception. Just the way the world is: a public defender makes less than a prosecutor in the legal field. Yes, Elton Musk became a billionaire doing what he loves doing but that is the exception, not the norm everyone should use as a blueprint for life.
I just got a pay bump from 52k to 76k and I cant believe it.
How
Larger shovel helps and that's what happens to me after I got out of debt. I had more than enough so I stared to save it all for retirement.
Federal Gov employee?
@@musikalniyfanboichik promotion
It's not how much money you make...it's how you live your life.
Agreed, it's your ability impact positively in your environment - with people, animals and environment.
Not what you make, it is what you spend
It's both
You absolutely can if you’re young, single, frugal, debt-free, and you invest regularly. THE KEY IS TO NEVER HAVE KIDS!! Seriously, they’ll make you go broke on that kind of income! And as a bonus, you’ll spare your potential chi1dren from all the harms of this world. Win win!!
You ll lose all the great tax breaks being single with no kids. It's not something that will make you broke
35,000 with kids is probably not doable unless you are getting govt help. Even still it’s not enough
@@acceleratedvideoproductionhaving kids for a 1 yr tax break is idiotic.
Dave's eye roll at 5:22 😂😂😂
Going to be very tough with the cost of housing and food prices. Dont see that getting better soon.
Very doable if you have a paid off home. I'm semi-retired. My take home after everything is $30,180 a year or $2,515 a month. I save $800-$1,000 a month and I am not a super frugal person. The secret is no debt, low taxes, a small home, and low cost hobbies. I enjoy camping, hiking, drawing, and reading. I live a happy, peaceful life and feel very blessed.
I watch this other UA-camr who is worth over a million but lives like she is on the poverty line. She is planning on leaving her money to charities. She lives soooo simply though; shops at thrift stores, eats cheap food, buys inexpensive soaps etc. She says she enjoys her life though; goes to the library, does outdoor activities, watches Roku. I guess if you don’t mind living an extremely simple life.
What's wrong with that? 😂 this us how I make it. I keep all my expenses low! Don't pay for streaming services. Generic food only. Pay cash for everything.
What is the point of amassing wealth if you will never take any time to enjoy it?
@@ButtmanAtHeart That IS the joy!
P.P. for the win!
@@1Eatoreos I concur
In regards to money, a co-worker of mine worked at the same place for 38 years! He never made over 67K a year,(he should have been making double that)his wife was a nurse so she probably made similar money. He retired a multi-millionaire. He put two kids through private school, lived in the house he grew up in, he bought it, his dad didn’t give out handouts. Speaking of his dad he passed away with a net worth of 15-20 million and didn’t leave any of it for his kids. Donated it all to charity. That’s a hard pill to swallow.
It's different with duel incomes.
@@jimmymcgill6778no it not!!! Thats a lie
I wouldn't trust most charities
@@e.c.1025it's easy to do research
@@jimmymcgill6778it is because you can either decide as a couple to pour bills or have one person pay all the bills and the other save. That’s what I did. My wife is able to save her full check each month 4000 a month in the bank every year do the math. So it can be done. If you plot everything it helps free up money to save and invest.
Remember: Teachers may have low wage, but have AMAZING benefits and pensions!!!!
I can see the value of a lower paying career. You'll spend more of your life working than anything else over sleeping, and you may find a lower paying job to be more satisfying than "working your way up" and spending your life jumping from one beige cubicle under florescent lights breathing stale perfectly 72° air all day to another.
Success = happiness
Nothing to do with money.
Happiness is a PART of success. But you can still be a happy failure.
Doesn’t money buy it by making one’s life easier?
The cost of vehicles and housing is making wealth building difficult for even very disciplined people. The average cost of a house in the US is now 40% of a $75,000 salary. Not saying it can't be done but the walls are getting higher.
Best to look in their own back yard or where a person wants to live instead of national average.
It's way less than average in my area where starter homes can be $100k or less.
@@blackworldtraveler3711 I'm willing to bet the average wage in your area is less than the national average as well. Its that way here, houses are cheaper but the average wage is nowhere near $75,000.
@@dg1019
Wouldn’t know. Everything I do is for myself and buy a home I could truly afford.
Never lived or bought a home anywhere based on national average.
All I know is I am FIRE now,live in an upper middle class area,home is paid off,completely debt free,and my total household monthly living expenses equal less than $1400/mo..
I cut my annual retirement income from $90k to $45k/yr. last year because it was much more than needed even after traveling and spending a month in Brazil and New Zealand and all summer in Switzerland.
Age 27 I started at 38K. Today age 36, make 95K. Always move, don’t settle for less.
What field do you work in?
You don’t necessarily suck because you don’t get a raise. There is a context for that though if one isn’t applying oneself. Aside, Getting a raise doesn’t necessarily mean stay at the job that’s not going to give you meaningful raises (and raises proportionate to the rate of inflation seem to be unicorn). Sometimes you have to give yourself a raise by doing what Dave said in sharpening your skill set and learning how to negotiate for better raises with your current employer. OR MAYBE leave and go somewhere else and come up with a strategy for growth and progression through different roles or through a few companies over a few years each. And of course there is always the entrepreneurial route which requires a certain mindset, persistence, & grit. Good luck!!
In my case I am a hard working guy who was always promoted because of my results and dedication. After a while the raises stopped and don't know why. Mostly because I expect a promotion but never ask for it. I realize later I needed better negotiating skills. That was my problem. 10 years and no upward movement and all good reviews. Learned form the younger genY and genZ I should have job hopped one or two times.
Non profits as well as for profits implement salary freezes. Usually has nothing to do with the individual.
The sad truth is a lot of people are struggling out there. We are suffering and we don’t know where our next meal is coming from. A proper UBI would go a long way to helping us all out. We could pay bills and put food on the table. Why are Ken and Dave against us having that?
I always love to listen to Dave Ramsey
You can still build wealth at $35k if your lifestyle cost less than that. It's just math - and making smart choices. Too many people think that life events just happen to them and that they are passive victims of life. For the most part that's not true. The choices we make largely dictate how our life goes.
It can be done. Even better if starting early in life.
I was building wealth since making around $4k a year in high school.
I think it depends on your desired lifestyle. You can be content or even happy and dont make alot of money. If you need vacations and luxurious homes and all that then more money absolutely is the only factor of your "wealth"
Dave is right, it’s about the attitude
You can.... you have to be extremely careful with your money. I made far less and bought a house for cash... kept that for 18 years... sold it and bought a farm. I am cashflowing the construction of my new house. Still not much more than $35k/year income.
Hard to have income go up significantly on permanant 100% disability...
It’s your outgoings , I was well off on less money because my expenses weren’t as much .
I work in healthcare and nearing 60. I make less money working for nonprofit then if I worked for Corporate nursing homes or hospital- but I don’t have the pressure of productivity at 93% where you don’t get lunch and documentation is after work time. I get more than 3 sick days a year. I am not treated like a robot. I don’t have to work every holiday and have to find my own coverage to get it off. This is the world of Occupational therapy folks. And it is called corporate greed in the places that you go to get care. Isn’t it ironic? So yes, I cant get anything extra- like a camper. I am debt free except a hone. But I am stress free and to me, that is priceless. Live it- then you know. We get raises by the way. I love and have learned from Dave and want to progress. But for now I am happy.
Ken did great on this call. Papa Dave was trying to back him into his place, but he held strong.
If you're living out of your parents basement without having to pay rent and have a dependable vehicle that's paid off! One can't have rent, vehicle payment, and expect to have a prosperous life
Put 100 bucks a month in a mutual fund. When you're 67 ( which will come faster than you think) , you will have thousands
@@georgewagner7787 The dollar won't be worth anything in a decade with these criminals in office, so it's all for not
I am a retail worker and to invest financially I've had to make the decision to live on less than I make....avoiding impulse shopping and not eating out frequently.
Wealth is not what you make, wealth is what you have! People that save 5% of their $35k/yr. can have more when they retire than people that make a million and save none of it.
There's a heck of lot of millionaires out there that NEVER had a 6-digit annual income.
Yes.Its not what you make but what you keep!
Some last 400@@youtubekeepscensoringme3357
There are a lot of people who bring in 35K or less who are at the Welfare Office.
JOSEPH the answer is NOOOO.
Godliness with contentment is great gain.
This video alone made me walk away from Dave. Calling people dumb who want to help people is just insane.
Don’t you know Dave is a big fat bully and a horrible parent?
35k a year is tough these days. You won’t be saving much money unless your living rent free. You gotta do whatever you can to make at least 40k a year to get by properly.
I make US 47k in a NFP sector doing the perfect job for me! But I've worked so hard that I also do consultancy for other Christian NFPs which I can also make lots of money doing! :D
Doing something you love doesn't mean that you have to be poor!
Success isn’t determined by income. People need to find what makes them feel accomplished. I’ve made all different pay ranges and never have I thought I was successful because of a number that gets put into my bank account every Friday.
Yeah let’s not treat people like items
to realistically answer this question, it depends: are you a person living in downtown Chicago or New York with a family of 5 kids? And living in an expensive Cond? No absolutely not. If you live in a cheap state away from a city in the middle of the country and you are a single person and have your house paid for? Yeah you can probably do it then but you are going to have to stick to essentials such as food, water, shelter, transportation etc. Man I did I better job then them at answering this question lol.
The Mother Theresa example.
She was very controversial when you research in depth.
As is everybody. There is nobody alive who does not have skeletons in the closet.
Good discussion. It is ok to prosper from ethical ambition, and to not be ashamed of it.
Ken Coleman answers this caller’s question with much more wisdom than Dave. I would like to hear Dave’s take on how his “I’ve helped millions of people” approach reconciles with Luke 21:1-4.
not to mention all the small church pastors that he said "you suck" to. imagine being a faithful shepherd to a small congregation that God has called you to and struggling to get through that and then saying if you are not climbing the ladder that you suck.
I always wonder i get paid with the salary of a teacher in Texas its good I have zero debt and a paid off home on a single income. But everytime I hear the Dave Ramsey show every caller makes 250k a year and makes me feel I studied the wrong career but then I love Teaching
I am on disability due to severe chronic health issues. I am living with a benign inoperable brain tumour. It effects my daily life and is debilitating but I am going to be able to live a long life (they say) so I make 32k a year and it is all I will ever make. I need to be realistic and make due with my finances. I know my situation is very different from the caller but I do know I probably won’t be able to make much money on the side.
Said a prayer for your health and wellbeing! I hope you are doing okay❤️
I’m similar at 22, I have severe mental illness
If your using the right financial principles (which apply wether you earn 35, 65 or 100k+) then 35k income is always temporary or only for a certain time by default. The other currencies like health and fitness, clear goals, friends and family etc are the drivers of prolonged success and life satisfaction.
I personally can attest to the fact that if you are doing the right things, this question becomes irrelevant because success and fulfilment in life will build and 35k will not be a ceiling.
No. Even if you had almost zero expenses and zero taxes. No
We make about 35K retired with a $800 house payment plus bills and save money.
You can't live off 35k with zero expenses and zero taxes??? Lol😂😂 that's embarrassing. Start a budget and see where all your money goes.
I was making $37k as a restaurant manager from 2010-2018. I ended up paying off around $70k in debt in 4 years starting in 2016. By 2020. Mortgage, student loans , and credit cards/personal loans all gone! I was able to save up and replace my 12 year old car with my first new on using cash. And I just moved into a new to me home, which will be paid off in 7 years. It can happen! I sold things I didn't use. I worked side hustles to get the debt paid off. Eventually I opened up my own business and bow make double + the income. Getting out of debt changed me and pushed me to be better.
wealth doesn't always mean money
Love the University of Michigan shirt, Ken!
Dave was swinging the Sword of Samuel. Great topic and advice.
61K for teachers? Not in Missouri. We are number 50 in teacher pay.
In Texas, certified teachers get paid 61k and up depending on the district.
Mississippi has entered the chat
He said the median salary for a teacher was $61,000. That means half make more and half make less.
They both went off into moral and ethical philosophy and didn't fully answer the question. The answer is 1. Yes. 2. depends on your cost of living.
35K? "You SUCK" -Dave 😂😂😂😂
Yeah, of course if you have a paid for home and car and no debt. You can max out your HSA, ROTH, and 401k and not have to pay income taxes on it too.
Can you be successful earning 35k? That’s the wrong question. The right question is, why would you accept 35k?
35k is ok as a starting point, yeah. But don't box yourself in, limiting yourself to that equivalent your whole life.
As for myself, I have currently never made more money in life as I do now but I'm miserable doing it. I was much happier with my life when I made less( 35 k)
@@skeeterk7trd158 adding more value often requires more effort.
it is a calling. you feel God has called you to be a pastor, or a school teacher at a christian school. none of those people are making too much more than 35k. until 2021 I didn't make over 35,000 as a Pastor for the then last 10 years with multiple master degrees. now I make 50,000.
Sometimes the school system you work for sucks and has a policy to never give raises. Work for a better school.
Good convo
I love 💕 that Dave is sharing the conversation more. I love hearing them all give their opinions and advice. 💕💕
Kinda refreshing to hear someone make a normal income.
Holy shit. Go Ken!
Gospel of Matthew, the words of Christ Jesus, Lord of Heaven and earth “No one can serve two masters, for either he will hate the one and love the other, or he will be devoted to the one and despise the other. You cannot serve God and money.
I dont want success i just dont wanna worry about bills anymore
YES, you live within your means. Rich or poor.
It depends on your age, family size and location, but 35k is really low pay. That's like I live in Mom's basement or I'm retired money. 35k is 24k after taxes. My household eats 24k a year. You don't have any money and your just one emergency away from being broke. If you told me you made 100k and were single, I'd probably say that isn't too bad.
It’s a lot if you live in your parent’s basement
100k is rich af
SOME people only have the opportunity to make 35,000 a year in their chosen profession. Retail workers normally aren’t able to climb the corporate ladder, companies aren’t going to be paying retail workers large amounts of money, they pay as little as they can so THEY can make the large profits. Someone is ALWAYS going to be the “ little “ guy companies use to make their money.
Who's fault is that???
@@youtubekeepscensoringme3357 No one - apart from the capitalist system. Worker bees do necessary work and get paid salaries commensurate with their level of responsibility.
@@youtubekeepscensoringme3357exactly. I'm making that but I'm also taking the opportunity to go to school to further my education and my job is paying for it. So if I want to move up their corporate ladder, I can. This country has so many opportunities. It's amazing!
Get a 2nd job
Entry level jobs are entry level jobs.
Again these are personal choices.
If you work at ANY retail job for several years and aren't able to get promoted then that is a reflection of your work. If not, then you have management issues and need a new job.
Entry level is meant for 16 yr Olds or slightly older. Also, people switching career fields possibly (if some prior skills from another doesn't allow them to start higher on the ladder), and for a few folks starting over in life/overcoming some personal issues that have resulted in this scenario.
I've known people who worked at Walmart for 20 yrs stocking shelves. They weren't chained up in a backroom nor threatened if they tried to quit. They chose to work in that position, either without opportunity for advancement or declining promotions due to not wanting the extra burden of a higher position.
It takes VERY little in 2023 to out shine 90% of your coworkers. If you have been stuck with no raises nor promotions for years then you need to decide two things.
1. What am I doing wrong that hasn't shown my value to said company?
2. What is wrong with said company that they won't, or can't, give me a raise or promotion?
If the problem is you, then take some time and figure it out. I'm sure we are all capable of being a bit better.
If the issue is your employer, then take leave and move somewhere that offers growth. Even if it's a horizontal career shift or slightly downwards shift.
Sometimes you have to go down your ladder in order to climb a ladder with a higher ceiling. No matter what in 5 years you will be 5 years older. Would you rather stay there making 30k or go down to 25k but end up at 50k+ in 5 years?
IF you can cut things and make the lower budget work, make the move. If nor, find a horizontal career shift and one with a stellar management team who rewards your hard work.
90% of employment issues are self created, because even if it's the employer, no one binds you to that career but yourself. Dont be afraid to leave for greener fields. All past experience, ALL is worth noting on a resume.
Societies biggest income issue is we all THINK we are entry level employees and many of us are quite capable of landing better positions after 5+ yrs in any industry.
Quit selling yourselves short and ASK for what you deserve.
You got this!
I wander the same thing when thinking about starting in the trades. Then they promote getting into the trades.