Pull From My Mutual Funds To Buy A House Soon?
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- Опубліковано 17 гру 2022
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Terrible time to have to sell stock and then buying a house in the highest mortgage rates in years jheeeze! Double whammy
Exactly. I'd wait.
I started selling stock for my remodel and retirement cash account in 2019 at highs as planned because I was retiring in 2020 spreading total withdrawal out three years.
A recession is long overdue and wanted to get it done beforehand.
Now I'm sitting back with $250k cash at 3.9% waiting for the start of economic upturn in 12-24 months.
Housing prices will drop according to the interest rate. Just takes time. There’s a lag.
Never put money you’re saving for a house into anything that involves risk.
@@DrDoke Yep, I'd go with a high yield online savings account. Ally Bank is paying 3.25% right now and there are some others that are even higher. It's just a place to park your money while you're waiting to buy so you're not going to get rich off it.
Most funds do not mirror the DOW but the S&P500. As many have noted the S&P is down almost 20% which is almost exactly how much this guy is down.
Exactly
If I was the collar I would not sell my stocks right now
@@imveryhungry112 Yup! First thing Monday morning.
Actually, NO MUTUAL FUNDS track the Dow :)
The S&P 500 is literally down 19% YTD! How does Dave get away with just making up numbers?
Right!?
Yes what is he talking about?
Everyone is different.
My portfolio is down -1.23% YTD but I don't have mutual funds.
@@Elizabeth-yg2mg He's been watching too much of Jim Cramer on CNBC.
100%
Dave should know that different ones make and lose different amounts. They are not all the same.
Even the S&P is down nineteen percent YTD.
I really wish he would make his point without yelling.
The answer is wait.
I’m looking at a whole list of the most popular mutual funds. They range from 12 - 30% down YTD depending on the funds he has in his portfolio. And 2023 could be just as bad.
Agree. I'm down around 50k in my 401/Roth stuff.
@@lot2196 %?
@@lot2196 the dollar amount means nothing if you don't include a percentage.
So keep buying down wards!
Do it. Might as well. Dave will tell you that you aren’t looking hard enough for an affordable house like he did yesterday
Don’t have to look hard.
Took me one minute to find over 400 homes with at least three bedrooms and two baths with two car garage between $200k-$250k in that area
@@blackworldtraveler3711 save your breath. People that frequent this channel think you’re lying if you say homes exist that are under 400k
@@butlerbees6639
Indeed.
Plenty of affordable choices and ,more than enough first home for family of four.
Ijust checked my area which is in Florida and recently saw real estate spiking to the moon and found 18 matches for 3br 2bath homes under $400k. About half were under $300k. I also noticed that a neighbor with a clone of my house is for sale under $400k, this will sadden my cat because he likes to visit the guy by going through his cat doors.
@@stephenshelton4267 there’s plenty of places where houses like that go for under 200k.
And why is Dave so beyond oblivious of how bad things are lol.
That's what a long term mindset does for you. Who cares how bad it will be this year when you know things will continue to trend upward in the long term.
@@amireallythatgrumpy6508 ah. You again. Figures
@@screwdriver_bandit Hi friend!
True Love ❤️ 😍 💖 ❣️ 💕 💘 ❤️
You would be surprised how many people aren't affected by how bad things are.
Some of us are debt free or have very little debt. Don't have expenses and lack of savings,investments,etc..like many.
Many learned from 2008.
Even I plan to travel more next year regardless of the recession.
This video is particularly insightful. Thanks Dave and co for all the knowledge you impart us with.👍
Lol 😂
Ahhh...😆😅
I have to say, this video had some of the better advice I have seen from this channel in a while, this one really make sense to me!
What S&P 500 funds is Dave investing in? Lol
He mentioned the dow Jones not the s and p 500.
@@AnthonyIsToeKnee no.
@@fef619 yes
@@AnthonyIsToeKnee He said he would have put him in the s&p.
@@AnthonyIsToeKnee He said he would put into the s&p
The S&P is down 19.68% year to date. You can easily look this up. Be careful when you listen to dave--he pulls numbers out of the air.
He didn’t say S&P 500 is down 5 - 7% he said Dow Jones.
@@luketarplin He said he would have put him in the s&p.
@@jimmymcgill6778 he did correct, but he didn’t mention any numbers for the S&P 500.
As does the whole American system. The American financial system is known for making up their data on the spot.
@@luketarplin THEY'RE BOTH DOWN! HOW DO YOU NOT GET THIS?
Why would he have his $ for a home into stocks ? That make no sense.
Three words I’ve never heard Dave say: “I don’t know.”
Lol 😂 right
Dave, mutual funds come in both active and passive. Please stop referring to them as if they were passive index fund ETFs. They are not. A passive index is the safest and cheapest. However, there are flavors in index funds that provide higher returns even when broader index is down. For ex: FANIX - an energy ETF is up 60% in 2022.
My 401k is down 20% so what is he talking about lol.
Mine is up -1.23% today YTD and still pumping out dividends.
Mine is down 14%
Wait! Just went down to 16% !
Mine is down - %5. - 4.something actually
down 18% YTD
Keep it all in.
Dave mentions what the Dow is down instead of the S&P. How convenient for his narrative.
Of course the wife wants a house. Buy high sell low.
Lol yup. Nearly impossible to talk logic about financial matters to a pregnant woman sorry to say.
A broody hen
I LOVE owning a house. Renting sucks! Of course, mine is paid for.
Real Estate never goes down. - Dave Ramsey (2007)
$50K home in 2011, Now $400K
Do you think it will go below $50K?
Real Estate never goes down.
@@aolvaar8792 are you a bit slow?
@@aolvaar8792 a 2011 200k house is now worth 500k
@@JustinCase780 They didn't stop talking about it....
@@aolvaar8792 Facts.
I did it, no ragerts. If you spent it on deprecating assets then no.
The guy said, "no way it will go down another 30% no way", until it does buttercup and another 2008 happens and next thing you know you have 100K instead of the 133K you have now. I feel for the guy its tough for the short term so he can get his house and have a big down payment might be hard in the next year, they are expecting a lot of pain next year hopefully they are wrong.
All the more reason that they should continue their contributions, (if not increase them to take advantage of the cheaper share prices). I know you doom and gloom types don't like to hear that.
@Scarpfish it's not about doom and gloom. This guy is not in this for the long term for the moment just to save money for a down payment on a house. There is a good chance it will continue to drop going into next year, thats all.
The mistake was already made. Putting house savings into mutual funds was pretty stupid.
Yea gotta be cash man. Which Dave I guess didn’t get to in this answer.
Now the mistake was getting married and having kids before this was all worked out. Men often get married not realizing how much pressure they get to do things "the normal" way. The way includes tons of debt and stress and eventually divorce for 60% of people.
@@JP-uy9kq I'll bet you're a fun date. NOT
@@JP-uy9kq Water under the bridge. Whining about it now is not productive.
It would be OK if you are waiting five years or more to buy a home.
Sell and then put the funds into a savings account or a 6 month CD with the highest interest rate you can find.
The caller should have not have been investing in mutual growth funds if he had intended to withdraw the money within a short timeframe.
I did. So far, no regrets.
Morning ladies & gentlemen, wishing you a blessed & relaxed Sunday with friends & family 🙌🏻
Dave has an OnlyFans account?
God Bless you Mazha, Happy Sunday! X
That really helps..
Ride it out. It will go up. May of 2023 get into another rental
Hrs in a short term box. Pull the $, buy a house. Which was the plan. And puts him back in long term perspective.
SELL THE CAR!!!!!!!!!
Deliver pizzas!!
Why does Dave compare to s and p when talking about growth. But dow when comparing losses
I don't things will stabilize until diesel fuel prices come down, hmm, well that's just me.......
I would get a 20 percent down. And spend up to a year to buy house and then take out as it get back to normal
First off, no credible financial person goes off the Dow, purely because of sample size. It's always the S&P, which is down 21% YTD as of Dec 28 so this guy is way more accurate with his numbers than Dave
Dave the S and P is down 20%
Down 20% YEAR TO DATE, which is a meaningless metric for someone who's been contributing to a fund in small chunks over five years.
How about pulling the money out and putting it into a 6-month CD? Rates are pretty high right now. I saw one 6-month CD at 4.30% - it's not great but it's guaranteed.
Those funds are gonna get wiped out sometime in 2023. They are planning to destroy the dollar.
@@daebak7370
People made worse posts than yours in 2008.
Or +$1.5 million ago in my case.
Dave is so wrong on this one.
Bro take it all out and put it in high yield savings account!
We could really do without Dave screaming.
No, that's what people come for.
Speak for yourself.
Are his plans really only effective for the middle class?
5-7% in 2023???
Mutual funds are so painfully stupid
I have $300K cash and want to make money with it but I’m 75 and Mutual funds don’t seem the way to go. Anyone have advise with this for 2023. I have a 401 with $750K in there
Dave is not registered to give investment advice like this. He needs to refer this dude to a smartvestor
✝️🙏
🤮
This really says a lot.
If they find a property with a 20% discount I would buy the house and stop renting. The point is to be patient to find the deal. By 2030 prices will be 50% higher than today.
Leave your money in, take a higher mortgage now, pull funds and refinance later when rates are down and stocks are up?
Pull the money out and buy a Range Rover. You won’t regret it.
This is a really tricky situation.
Sell the mutual funds and put into i bonds and sign up for another 12 month lease lol
The consequences of voting democrat.
Why not just take a loan out against the value of the mutual fund?
At most you could probably only get 20%. It's called a margin account
S&P500 will make fresh lows in 2023, count on it. Powell hiking into a recession.
I'm counting on it.
Have a lot of cash on the side.
Let's Go Brandon