Is Your Debt Turning You Into an Anxious Mess? | September 13, 2024
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- Опубліковано 17 вер 2024
- The Ramsey Show (September 13, 2024)
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George Kamel & Dr. John Delony answer your questions and discuss:
- "We disagree on how much to be investing,"
- "I have no investments outside of real estate,"
- "My son's girlfriend has taken over his life,"
- "Can I afford to retire early?"
- "How to approach husband's credit card debt? "
- One of the Nation’s Largest Auto Lenders Told Customers, “We’re Here to Help.” Then It Took Their Money and Their Cars - www.propublica...
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"I make 57k in insurance, but I WANT another baby and I WANT another house, and I WANT my wife to stay home 👶"
And I'm having a hard time adjusting to the fact that I can't have everything I WANT right now...
28:00 Victoria in Kansas. You don't have to leave your son anything if what he's doing is so objectionable to you. You can also change the terms of your will at any time. Dr. John is correct when he said to keep your negative opinions regarding the gf to yourself. Letting your son know your great disapproval in a nagging, negative way will only drive a wedge between you that may never be able to be repaired.
When I get the Autumn feelings I always go watch Trey’s basic Fall girl!
Bring back the whole show to YT!
My favorite dynamic duo🩵🩵
I've listened to two ramsey books through libby, it's awesome!
The 21-year-old whose girlfriend is foolish with money will wake up someday and regret that girlfriend. Mom needs to stay out of it and let the son and his girlfriend pay all their bills. You make your bed you lay in it.
& don't let them move in when they lose their a** ..
She can make a trust so he gets the money when he grows up- give him money when he’s 47 years old
@@2dodger2 Great idea!!
@@fourdayhomestead2839 His mother put forth a very good example, I think he will return to it, but this girlfriend is a temporary BAD influence.
17:10 The Real Estate lady should not rush to sell her properties!
She has been doing that for many years and has gained a lot of experience. If she wants to invest money into Stock Market, she should start slowly - maybe put some small cash first and see how it works etc.
Then if she gets more comfortable with it, maybe sell 1 property and increase exposure to Stock Market (and some bonds).
I think she suffers from FOMO - somebody told her that Stock Market investing is very profitable and hands off… but it’s not always the case.
It’s usually better not to jump ships, but stick to your area of expertise… and I’m saying this as a Stock Market Professional.
Thanks, I’m that real estate gal on that segment.
I had that original $70K invested for 10 years , it slowly inched its way along and was earning minimal interest (6% to 7%) annually and not every year. It felt like I was paying huge and frequent management fees, transaction fees, this fee, that fee. I felt completely out of control of my own money and my own future.
Hence, when this real estate opportunity came, I closed my eyes, held my breath and closed out my investments and began this whole new adventure. I’m not kidding when I said … I’ve never earned more than $20 an hour my entire working career. My paid off real estate including my duplex is a total value of 1.5M per the MLS estimate. And the best part? I have only used that $70K , the renters have paid for these houses for me including my own home. Including all maintenance, repairs, renovations. I’ve paid nothing out of my own pocket.
Thank you for your honest advice. I’m very skeptical of stock market investing, it did very little to save my future during those 10 years I was funneling every penny into it.
My advice would be more accurate if I knew her age and a few other items
@@2dodger2
Yes, I agree. It would be great to know her age. That could change the equation a bit.
If she's around 50 and healthy, then she should still manage her Real Estate for years to come. No reason to escape something that made her rich in the first place. However, she could start putting some of the money she makes into Index Funds/ ETFs and bonds (to be more diversified).
On the other hand, if she has already reached retirement age and now struggles to manage her properties - only then I would go for the option of selling some of it.
@@Cactus-brat
Congratulations! It's so awesome to see you here in the comments section 😊
My situation was quite similar actually. I also didn't make that much money (I was a young guy, who had just finished university). However, I put a lot of my savings into stocks during the Pandemic.
Back then, the valuations were extremely low... and I bought many great companies at a huge discount.
Nowadays, my portfolio is worth waaay more and some of the companies pay hefty dividends (especially considering my Yield On Cost).
@@2dodger2
My age is 60 and in early retirement! So relying on my rental and Airbnb income to live off of.
George, please include on your show and this one that not only should adults freeze their own credit with the three bureaus (even if they don't use credit cards), but they should also freeze all their minor children's credit until they are 18 by which time, hopefully, the parents have communicated how to handle money. If anyone needs to unfreeze credit for any reason, such as a mortgage or renting an apartment, your credit is very easy to unfreeze for a few days and then freeze again. Yes, I know RS proposes that a credit score/report is never necessary, even for a home loan - but some of us still live in realville where a credit score IS necessary, or at least very convenient to have!
Minor children shouldn't even have any credit accounts to begin with.
By the way, credit scores only exist in backwards shitholes like the USA, and not in the real world.
My absolute favorite Duo 😍😍
Chris wants to retire after 40 years and 4 million in retirement and the advice delony gives is to immediately go work at chick-fil-a…..classic 😂😂😂🤡🤡🤡
It's just a suggestion to stay engaged , clown 🤡
Utter silliness.
I get having purpose, but better to keep working his good IT job if he isn’t ready to hang it up. Working the waffle fryer certainly isn’t in my retirement plan.
@@bluedevil0133 Utter silliness is retiring.
I would NEVER take retirement advice from Deloney.
@@bettedavis9261 The only good retirement advice is DON'T.
Where did all the DEBT FREE SCREAMS GO??? And Why is there SO MANY REPEATING COMMERICALS TIRED of seeing Dave & Rachel talk about Net Suite & Refi. Bring back the question of asking callers what BS they are in. This show is going to the DAWGS.....😢😢😢😢😢😢😢
It's not going to change,so nobody is forcing you to watch
In the section with Nicholas, I totally disagree. I bought a small house with just 3.5 down payment shortly after my divorce. Yes, I had credit card debt, yes, I barely had any savings but buying the house (no bells or whistles), my fragile family came out ahead. We have stayed in the house for over ten years. We stated marking repairs on it five years after we bought it one item at a time. The house is now worth twice what I paid for it.
Yes. It would be phenomenal to buy a house with 20% down or cash but that is as reality that many Americans CANNOT sustain
To the insurance guy: your wife needs to work at night when the baby is sleeping
Did Dr. John just tell a 60-something with $4+ million to go work at Chick-Fil-A after he retires?? This show is getting wild.
He's advising the guy to have another plan and not to sit and die in front of the television. Look at Ramsey 63 worth 500 mil and goes to work everyday while enjoying and living his best life. Work gives us dignity and keeps us out of trouble at any age :)
@@AS-gf5jnI get it, but Dr. D is way out there sometimes. The Chick-Fil-A suggestion and his tangent about his chickens in a later call made me wonder how his mind works. It’s hard to relate to such “imaginative” thinking because my brain is much more literal and methodical, so these comments just come off as a bit wacky to me. A $4+ million net worth retiree is not going to be cleaning the grease traps for a fast food joint. 😂
@@bluedevil0133 I have a friend worth 8 figures who took a job at UPS just to stay busy and be around people. It was simply just a metaphor.
If he's only 60-something it's way too early to retire.
No, he's telling him to have something to do like a hobby or other job in place and not give up or sit around and do nothing
Turn Trey Kennedy's segment into a short!
Is this the millionaire theme hour?? ?Everyone is doing well on this segment.
Trey!!!!
I know there aren't stupid questions, but Nicholas from SA. WOW.
John is too melodramatic 😒
You just noticed?😉😂
2nd caller needs to stop talking
The first caller too
Sorry, I was nervous
This episode seems bloated on feelings and lacking in facts. Asking the right questions is important. "What's your question?" "Where are you living now? Why are you paying for house repairs if you are renting?" "How long have you been married? Have you joined your finances? Have you done a budget together? Have you told him how scared you are being on different pages financially?"
Assuming motivations is not helpful. Maybe he's trying to protect her, but not from the right things.
I usually enjoy watching, but today's show was a rough one.
Yeah, Dr. John was in drama mode today for sure.
Carol from Tucson should look at 1031 into a DST (Delaware State Trust). Essentially it’s a REIT but tied to a specific asset such as ownership of a on apartment or hotel building. Some options pay dividends some reinvest I think.
I’d love to hear Dave’s opinion on DSTs
I’m Carol from Tucson,
I’ll look into that, my main question was 1M in real estate rentals? Or 1M in cash out and invested for the dividends , which is better? I have people telling me 1M invested would give me $100K a year income! If that is true, I feel like it’s a good idea to sell.
@@Cactus-bratYou wouldn't want to withdraw the full 10%, though. Maybe 4-5% withdrawal rate. You have taxes to pay on the withdrawals. You need to account for an inflation rate of about 4%. You also have to account for years when your investments don't earn 10%/year. Sometimes the market earns negative returns, sometimes only 1, 2, 3 or 4%. Sometimes the returns are 20%. It's not a consistent income. You definitely need to talk to a financial advisor who can educate you on the market, and its ups and downs. Don't jump into anything you don't understand. You've done really, really well for yourself. Congratulations!
@@bettedavis9261
Thank you, yes! I’m very nervous and uncomfortable with it investing, putting my entire future into the hands of a stranger and trusting they are acting in my best interest is hard for me!
Real estate allowed me to be hands on, an active participant in my own financial future. But, now that my real estate has grown to such a high financial (equity) level, I fear I am missing out on opportunities to make the most money possible by holding on to these assets.
I’m (gross) getting $4000 a month, but (net) fluctuates based on occupancy, maintenance issues, etc.
Selling my properties would get me close to 1-Million in cash. People are saying that investing in S&P500 would likely double my income!
I just feel I’m leaving a lot of money on the table by not utilizing that equity. But, fear of making a mistake as well! Ugh!
Please get to the question.
the guy who's wife will graduate from surgery residency needs to get a better job. its true there is a massive salary jump going from surgery resident to attending; however, that's assuming you are actually doing surgeries. no surgeries/productivity, i.e., on maternal leave working part time, no surgery attending salary.
Imagine marrying someone and being pretty much a newlywed and figuring out you don't know them at all?
She talking about her death when he's 21? Geez, is she going to do that every move he makes? Her call but seems a bit much. I wouldn't unless she's ill bring up her money.
These two are my least fav to watch… my goodness John is aggy…. Jade Rachel Dave and Ken usually works good no matter the combo 😅
Dr D needs to stick to his show
What does aggy mean? I like John with Dave.
@@queensprinkles4348yea I think he seems better on his own, even more relaxed. He doesn’t really have any back and forth banter with the other hosts like some of the duos have, so it just comes off so rough or forced or like he’s talking over the person
@@nikkibadzik3948 aggravating
@@yourfavnurseb9699 right he seems like a smart dude but is just socially awkward… I’ve never watched just his show imma have to catch that to see what yall are saying… but geeez… it seems like jade is the most versatile
*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
Waking up every 14th of each month to 210,000 dollars it’s a blessing to I and my family… Big gratitude to Maria Frances Hanlon🙌
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Maria Frances Hanlon, has been an amazing experience.
YES!!! That's exactly her name (Maria Frances Hanlon) so many people have recommended highly about her and am just starting with her 😊from Brisbane Australia🇦🇺
@@JackBlunderthat’s awesome. Sounds like your advisor is very financial savvy. How can I find her…..😂 jk.
🧢
omg jd
Early