I'm 23, How Should I Be Investing?
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- Опубліковано 15 бер 2021
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I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time .This comment serves as motivation for all those who have invested and continue to invest in cryptocurrencies with so many losses, do not give up, cryptocurrencies can change your life. Do your best to connect with the right people and you will surely see changes.
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
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Interesting video I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset.
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Sharon Lee Peoples is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
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I don’t agree with Dave saying you need to move out as quick as possible. If parents are fine with it and enjoy you living at home then use that opportunity to save and invest. Life doesn’t come with many safety nets built in so if you have one don’t burn it. I will say though that the appropriate thing to do is to contribute in some way to your household if you are staying at home with mom and dad.
There seems to be some kind of mentality where if you don't move out, you are not an adult.
That's true I wish I could get along with my mother long enough to live there longer
@@ZeusandHades As someone who just moved out at 25, yeah, you're not REALLY an adult until you start paying bills. BUT I do agree that thats not necessarily a bad thing these days since the economic climate is no longer "im 18 fresh out of highschool, i can get a job and pay for my own education, living expenses and then some." like it was before the 70's. in my case in particular, I lived w my parents while i figured out what i really wanted to do, found my career, worked to save up some money to set me up FOR THE FUTURE, not just enough to move out and live paycheck to paycheck thereafter and then here i am.
@@danielpinzon5603 I can't say i know what I want to do as a career. I mean, I got a degree, but its hard to find a career. For me, a job is a job. Though, while I don't know if I can call it a career, I do like how my job lets me focus on what's important: being there for my family. I guess I don't want to be in a spot where I'm far from family, and with my current job, I still live with my parents which allows me to spend time with them that I don't think I could do as a student.
@@danielpinzon5603 I moved out for uni and my dream is to return in my home town, get a nice job, and live in my parents house, but on different level, with separate kitchen and bathroom. I don't see anything wrong staying with my old folks. However I'm 24 and I might change my mind in the meantime.
Dave is really telling a kid livin in NYC to move out...
Yeah bit out of touch. He is making 18k a month, how the hell is he supposed to afford rent un NYC.
18k a year @@frost6296
He said 15 to 16k a year like are these guys dumb ? Saying to move out in nyc with that kind of money per year
@@frost6296he did NOT say per month
@@jazz4056he said after 2 years when u bring that money up to move out
I greatly appreciate your commitment to enlightening your audience. We share a common aspiration for financial security and an enhanced quality of life. Attaining these goals necessitates prudent investments, mindful spending, and meticulous budgeting. I'm thankful for grasping the significance of striving diligently for financial independence from an early stage.
Even though I engage in investing, I feel disheartened by my lack of expertise in assessing the performance of individual companies and determining the optimal timing for stock purchases. The erosion of my financial reserves due to inflation adds to my concerns. At this point, I require precise market trajectory information, but I find myself unsure about the appropriate course of action.
I wholeheartedly concur, which is why I opt to entrust the day-to-day decision-making to an investing coach. With their specialized knowledge and extensive research, it is highly unlikely for them to underperform. Their expertise is centered around harnessing the asymmetrical potential of risks while also employing measures to safeguard against unfavorable outcomes. I have been collaborating with an investment coach for more than two years
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
I work with Sonya Lee Mitchell as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
I searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
Recently bought some recommended stocks and now they are just penny stocks. There seems to be more negative portfolios in the last 3rd half of 2023 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
The truth is that this is really not as difficult as many people presume it to be. It requires a certain level of diligence, no doubt, which is something ordinary investors lack, and so a financial advisor often comes in very handy. My friend just pulled in more than $84k last month alone from his investment with his advisor. That is how people are able to make such huge profits in the market
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
ANGELA LYNN SCHILLING' is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
I am fortunate to have $80k saved by the age of 24 without venturing into stocks. Now, I want to invest safely for growth in the next 3-4 years to buy a home. What's the best strategy?
I believe a healthy portfolio has 3 things, at the bare minimum: Exposure to ETFs for increased diversification, Exposure to assets that generate cash flow like dividend stocks, Exposure to market-leading tech.
The market's instability makes DIY risky. You don't need to find the next NVDA to succeed in investing. Opt for top-notch ETFs, dividend aristocrats, and a trusted advisor. I've turned $100k into $30,000 in annual dividends, a major milestone.
I've been considering but haven't been proactive. Can you recommend your advisor? Could really use some assistance.
'Jill Marie Carroll' is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
I usually agree with Dave, but this time.. well, he has to understand that "getting your own place" isn't as easy for millenials than it was for the boomer generation. House prices are impossible
If you thought they were impossible a year ago look at them now..
Sounds like an excuse to me
@@awsedr122 ok boomer
Right lol my Grandmothers house was $150k in 2000. It is now worth over $450k and the surrounding homes. I had to move back in at 31. I’m not ashamed times are hard. I’m single & no children. I’m completing a professional certification at an Ivy League school. I plan on just purchasing a townhouse or condo
Absolutely take advantage (not in a bad way of course) of being able to live with a parent. I get for Dave that may be unacceptable, but for someone who is so averse to risk you would think he would also have him stay and save if he can do it. One of the very few, and only memorable times I have disagreed with Dave.
so waste $1,800+ in rent or go $400k+ in debt AND THEN start saving/investing??? That’s make no sense. I normally agree w/ Dave.... but this is ignorant. Not everyone can buy a house for $40k in Tennessee like you, Dave.
Where that bus at? I'm in need of 43k for some stocks. On my way right now.
Hi, it has been 2 years did you manage to find it? If so please tell the the location
😂
If he wants to live with his parents until 28 yrs old to save and invest so that he never has to pay a landlord or pay a mortgage, there’s nothing wrong with that. He’s already being responsible and showing maturity. It becomes dangerous when that mindset and discipline isn’t there.
He just started working at age 23 and has never earned a dollar in his life. His entire net worth is tied up a settlement from when he was a kid
Well said.
@@bindingcurve glad i wasnt the only one who caught that i figure this kids parents are loaded in some manhattan apartment
I agree but I’m Hispanic. I’m 20 living with my parents but I’m in a community college and have a full time job. I only see myself moving out once I finish college or once I’m ready to do so. According to my parents I can stay as long as I want to as long as I help them with the bills and stay in school.
@@merrymaurader2521 Same here. I see myself moving out when I have 100k in savings. 3-4 years at 26-27 years old
They always try to shame people that live with parents. If you are a working adult and live at home not paying rent or helping with expenses, that's not right. But if you pay rent to your parents and are a contributing member of the household there is nothing to be ashamed of.
Lol. Glad your not my parent.
@@hustlasstory7611 Why? You don’t want a loving parent that supports you? 🤔
Goofy clown
@@hustlasstory7611 why you wouldn't be broke like you are now
Parents like you only wish to control their sons and daughters
When I was 23 I bought my first house in 2013 and by the end of 2022 my mortgage will be paid in full!!
Love this! You go girl!!
Wow! What an accomplishment!
JC I’m a Certified nurse assistant, my husband is electrician. We both make 60k a year in Florida. I worked part time mostly, because of our kids I only work on weekends. Anyhow, I bought this 4/2 beautiful house for 140k in 2013 ,housing prices was low that time and now it’s worth 300k today.Only have 80k left to knock out! We live on half our salary with no problems and save.
@@sameshajones5766 And its taken you that long to pay off? I'm saving right now but don't imagine it taking me more that 3-4 yrs to pay off my mortgage. Of course that's starting with having 45% downpayment. Almost there, but would be putting 30% down and putting everything else I make into payments. The remaining 15% is my mortgage emergency fund.
Nobody cares or asked
Love the diverse age groups and the conversations taking place on this thread. I am 37 years old, all I saw growing up was bad financial decisions that at some point in my life consumed me and almost dragged me down. Love to see young people being guided correctly and considering things now that 20 years ago it was not part of my vocabulary or even a thought. Love The Ramsey Show, I make this part of my family watch list atleast once a week and share this with my three girls who are growing up understanding the meaning of money and freedom. Great job young man!
Move out around 26-28 as you planned and save money.
disagree with telling him to move out and saying "get out of your momas basement is ignorant" let him stay there rake in the money and he can move out when he's ready.
Becoming adult is not weather you move out of your parent house or not, is about taking care of yourself and taking care of other. If you still living with you parent don’t be a dead weight. Help them out and save up for your future. I’m 225 still live with my parent, I pay for their car insurance/ utilities bill, food and they take care of the mortgage. That’s a win win to me.
Damn, 225? Are you a vampire?
Theres absolutely no reason to leave your parents house as long as all parties are happy with the arrangement, especially if all that money that would be going towards rent is going towards building a robust portfolio.
You're absolutely right if you are a responsible young adult and not one of those creeps that live in a basement on the computer all day being a burden to your parents but a very helpful towards your parents and if they're okay with you living there I wouldn't move out.. today things are totally different from 20 years ago and back twenty years ago things were financially difficult also but not like today much it's worse
Living with my mom and paying only 500 in rent has allowed me to start my own business and make more than I would have if i moved out and worked my retail job full time at 15/hr. I would have made $2200 a month, but right now I'm making $2500 a month from my business and it's growing every month. If you can take advantage of living with your parents to allow for more time to work towards something, then do it. no shame. you don't need to immediately move out and waste $800+ a month that you could have saved or spent time working on something different.
What is your business?
Investing is putting money to get more money back from the asset later. Speculating is looking at what the price is doing regardless of the business.
Just recently got laid off and it feels like i'm beginning from the scratch, I have set asides $400k but somewhere along the line, I get cold feet maybe because I'm a rookie and have no idea what I'm doing, please I could really use some guidelines.
@@henryrichards1686 if you want to be a millionaire, have the mindset of the rich, spend less and invest efficiently with guidance of an investment coach. more don't give up your dreams.
@@lisabarnes8071 I agree with this, Investment coaching sounds like a great idea, thought about it before but never knew how to go about it, Have you used a coach? what is the experience like?
@@drfrankhutchinson2031
can’t disclose too much , but yea I’ve been using a coach since March 2020, growing my portfolio from $275k to $700k approx. It is pretty straightforward, not as complicated as it used to be.
@Justine Disreli just google search her name Lisa Jill Grenell and you should get all the info you need.
I only moved out at 29. Best decision I ever made. I was able to save and build a foundation when I had very little income.
I understand why some move out, but my parents moved from disciplinarians to “friends” in my 20s, a time in my life I found a lot of value bouncing work and life off them in a different way from my childhood.
Why does Dave think that living with your parents is such a bad thing? 🤔 It seems as though he encourages his listeners to move out ASAP. Wouldn’t it be a great opportunity to save up a huge down payment on a home instead of renting? I think that living with your parents till 30 is pushing it though.
He’s made millions off real estate. Of course he wants people to move out 🤗
@@seventhraikage2538 😂 true. From the perspective of a landlord, it makes total sense.
It's good for you as a person to move out. The difference between young adults who live with mommy and daddy and those who live as actual adults is shocking.
@@DK-mc7mp y. Obviously at some point you should move out but you should be a a good financial spot when you move out. A good financial spot would be out of debt, have an emergency fund and saved for a down payment on a house . That would be a good time to move out. In this callers situation he absolutely should not move out. He lives in NY, and only makes 15k a year. If he moved out now it would be extremely stupid
@@DK-mc7mp I have my whole life to "grow" as a person. My bank account can grow 30k per year living at home compared to 10-15k per year living on my own. Doesnt make sense to me to move out right now. When I could have 90k-120k in 3-4 years.
I was just like this kid and am so glad i didnt take daves advice here. Graduated engineering school a bit late at 26 but secured a good job in my hometown making 130k total package. I moved back in with my parents after 4 years of being away at college and have saved 140k in 2 years. Half of which is in retirement accounts. I am planning to move out now at 28. If you have a good relationship and aren't a burden on one another there is really no good reason why you shouldnt continue saving and live at home until you are truly ready. I fully intend on taking good care of my parents in the future since i earn more than them both combined and they have always supported me.
I still stay with my parents. I’m graduating college in May & I have been saving since I started school to move out when I graduated. Always was told don’t move out until I was financially secured. I believe I’m ready. Looking for jobs in my field & an bc apartment to start off with. It’s a process
U do you but I would personally wait a little longer to move out if you can. Minimum at least have a full time job before you move out. Next best thing would be to wait 1year after you had yours full time job to move out. This way you’ve had a steady job for a year and we’re able to either pay off a lot or all of your debt if you had any and if not, we’re able to save up a lot of money
I’m 35 and I have about $250k liquid in savings which I plan to put towards becoming a homeowner but based on the current high prices on real estate, do you suggest I hold from buying or do stocks for now?
investors are extra cautious right now. They want to make sure they’re getting a good deal given how much mortgage payments have gone up, and when they don’t feel like they’re getting a good deal, they’re backing out, so definitely looking elsewhere is a necessity
In my opinion, home prices will need to fall by at least 40% before the market normalizes. If you're unsure if to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in ROI
sounds great! could you please suggest this expert you engaged their service? I have lots of difficulty sorting out the right investments on my portfolio
Trudy Renee Soper' is the CFP that guides me, her reputation precedes the exemplary service she offers, and I'd gladly commend her on a public post, you can locate her if you are internet-savvy.
Give him a call! You’ll be on a clip I bet
Until you live in NYC you can't really tell someone when it's time to move out. All of my friends in NYC still live with their parents because to live on your own in NYC is outrageously expensive...best bet is to move away from NYC where wages justify the cost of living on your own
Saving and Investing money early creates compound growth, it's a beautiful thing. But it takes focus and discipline. You need to be focused enough to commit to a plan and a process.
It's all about mindset, believing that you can, believing that success is available to you,regardless of where you grew up,or where you went to school.
Saving is hard enough, investing and reaping rewards successfully, seems to be even harder.
Lol...that's why I work with Robert Anderson.
Diversify your portfolio, don't put all your eggs in one basket. It's too risky.
People talk about investing and reaping rewards like it’s a ride to the park and back. Nobody actually tells you how difficult it can be to find a trustworthy and consistent investment.
I am 32 and still living with my parents. But I have saved up three hundred thousand dollars. I am planning to move out this year.
On average how much do you save a year? And how much do you spend a month?
Don't move out. Save and then buy a house.
I moved out of my parents house at 21, just to move right back in a year later. Best to stay as long as you can, to save as much as possible and learn
You should be investing as early as possible. Not “when” you move out.
I think you should look for a Financial advisor to help you grow and maximize your income so that you don’t have to think about your home plan. My Financial advisor makes me 175% profit from my income monthly so I don’t have to stress
Absolutely. Even if it is a small amount of your income. Waiting to invest in a Roth IRA is a mistake.
Why should he move out? Is this American culture? Ethnic minorities don't leave their parents home till they find a spouse. Why would would need ur own place for u to live when theirs no issue with living with ur parents and staying with them? Pure waste of money !
It’s an individualistic culture thing
Depends on the family but yes, waste of money
It is very much an American, Individual, find your own path, pride psychology thing.
I’ve started to equate the Wealthy parents paying for college, with the stable parents from other cultures allowing their children to live in the house to get a foot up to be a similar helping hand. Some people can write a check, others can help from the home base. Agreed, it seems to be wasting money when he could otherwise bank it & invest it!
see now normally i'd agree with the advice of trying to move out on your own as soon as possible, but not this time because we're talking NYC. the rent here by itself is a tremendous expense, and if the guy already isn't making too much money then he'd be even less able to invest strategically if he's paying $1300 for a "1 bedroom" disguised as a cubbyhole
One thing I would recommend don’t move out of your parents house if you don’t need to and can come up with a reasonable agreement with them, if you can save enough to buy an apartment cash you will be in an incredible financial situation and almost “set” for life.
Don't move out my guy. I am in a similar position; stack that bread and be strategic!
Me too and I’ve been highly strategic that’s why I use the service of a Financial advisor. He’s been the reason for my success, he trades on my behalf and manages my investment portfolio very well. I can refer you
@@gabrielmaximilian7148 Hello Andy! I'm curious to know!
@@ladye2818 Are you on Instagram?
I will have to disagree with Dave’s advice on this one telling this kid he needs to move out prior to 26-28. As long as he’s being responsible with money and not being like the majority of 20 year olds living at home and is being smart with money to set up an easy road for the future than that’s not an issue. I’m a parent with a 4 year old and I also just turned 27. I live at home rent free and if it wasn’t for that I wouldn’t have 100k right now. There’s a difference between living at home and having 2k at my age vs 100k. There’s nothing wrong about living at home if your being smart about it! Also I should add I was in a bad motorcycle crash in 2016. Took a huge pay cut and literally I had nothing in 2019. Because I made better decisions I now have 100k.
Ps: I lived both scenarios of being an ignorant 20 year old making good money and didn’t save a dime. So I know what I’m saying based on what I’ve lived through and have done.
was rude when Ramsey told him he needed to move out of his moms basement then muted him. Not everyone has a net worth of $400 million and has everything easy.
Oh you think he's muting people? LOL. He's hanging up on them.
@@fitybux4664 why would he hang up on someone before giving his answer? What's the point in taking the call?
Get the question. Hang up. Answer the question. Doesn't make sense.
Adidas track suit Dave is my favorite Dave. Putting debt in the gulag
Warzone
Living the gopnik lifestyle
Rice and beans, no restaurants
I relate to this guy . I’m 24 and I am doing what this video is about . I just graduated from college and I’m working through paying off my debt and saving up before I start investing a lot
24 year old here super excited about investing. Got 60$ in dividends this month and love that it goes right back into my investments to compund
Goodjob, you're still young, keep going!
You will be amazed when your investments make more money for you than your annual income. Keep going, don't stop.
What company are you invested in
which ones are you invested in?
Brenden Rudolph VTI, and the Schwab S&P index fund
When did they switch to “The Ramsey Show”, from “The Dave Ramsey Show”? I noticed Dave correct himself at the start of video
I imagine it's because he's kinda phasing out the show as he gets older. Seems like he's slowly transitioning the show to "the next generation" (Rachel, John, Anthony, and the rest)
Is Dave back???? 😲🥳🥳🥳🥳
At 23? Perfect age to venture into financial investment. Wish I've started earlier
Glad I’m 23 and already doing this 🙏🏽
No one cares tbh
Keep it up bro 💪🏼
Keep it up. Continue getting results man! Great job
no one has to. It’s his money
@@Garebare1 yea I agree
Don't get your own place Nick unless you start making 50k plus bro. Stack your bread right now and move out when you are making an actual living or you will be broke.
Considering he's in NYC, i feel like 70k would be a better spot haha
@@m_rod9562 True that lol
*When you're young you can afford to take risks*
Build wealth for the future ❤️
100% in penny stocks cause I’m young 👍
I moved out at 24 but if I could I would of stayed with my parents longer. Free rent and a way better place
@Bulls Nation yup
I moved out at 19 because living in my parents house was such a toxic situation. I’m almost 21 now, and I really wish I could’ve lived at home and saved money, but it was either my mental health or wealth. It sucks that this is the same problem a lot of young people have :/
Don’t move out! Lol. Till you’re financially secure!
Agreed. You will crash and burn if you're not ready. No rush until you are totally financially ready. Preferably with a wife.
@@ALtheelectrician lol get a wife before you move out, good luck
@@FlutterSwag you don’t got game my boy
@@andyinexistence you aint fooling anyone Andy
Fun fact: i get high on my UA-cam channel & get paid for it 😅😀
Come on, why not live in the basement and save for a while. U guys just gave him a terrible advice.
I think it's a big generational difference. For Ramsey, he's used to the idea of people living on their own the moment they start their careers.
To be honest, I do kinda agree with Ramsey. Sure it's financially smart to stay with your parents, but 10 years after high school graduation is a long time. If that's the case why not stay longer and save more, like when you're in your 30s-40s and have saved cash for a house?
@@Trewq79Well... he's around NYC so its probably hella too expensive
I hate Dave's attitude so much especially when he benefited from mommy and daddy owning a real estate company and hooking him up with bank loans by knowing the people. But nooooo, you need to be a man and do it on your own, right dave?
43k is not much for doing anything in NY. The best thing he can do is leave NY.
Wish I could have asked Dave this question when I was 23
Why couldn’t you?
@@cptfreeman8966 Was to busy buying dumb stuff plus I didnt know who Dave Ramsey was
I moved out at 19 and moved back in at 23, I make 70k a year and don't plan on moving out ever lol, not till my passie income pays for all my expenses
I didn’t leave my moms until 31!
I had a nice pile of cash too when I did, only Americans have the “ move out mentality” Asain countries, Spanish countries and places in Europe all live together in order to save money.
Same in my country, most African countries. Till you’re getting married you stay at home.
Self-sufficiency and independence are virtues that have been highly valued in American culture since its founding. Also, we have a lot more economic freedom and opportunity than many other countries around the world and so there is less of a NEED to live with your family long into adulthood, therefore it's encouraged for one to start their own life and become self-reliant.
That’s cool and all but dude 31 lol that’s a little much. If you want to meet a girl in America they will laugh at you if you live with mommy at 30 years old
@@ProfessorMikee the American ideal isn’t always the same with people.
If she actually likes you it won’t matter too much, but yes it’s a good reason to move out once you find a keeper, one to marry not just for fun.
@@MichaelAnderson-wk1no sounds like we throw up more money than other countries too, save up to buy a motel or something. Build wealth buy owning your own business, whatever that may be.
I miss Chris, he was my favorite one
Yeah but that Man be out roaming for strange lol
@@Slingsomelead let him have some fun lol
Where did he go
Where he go????
@@dababycar2899 they fired him
Hey Nick. Don't move out. I would stay in the house and support ur family and living together.
Probably the worst advice yet from you ramsey. "I don't want you to be 28 years old livng in your moms basement" well to be honest that would be the smartest choice he will make in his life if you ask me.
Right! Uhh, boomers 😂
Same
America the only culture that shames people for living longer at home. And that explains the massive amount of loans we have.
Rent is way too high, save save save, buy
I wish i had invested when i was 23, instead of playing with high volatility stocks.
How do u know the stocks he owns are highly volatile? And how do you know hes trading in and out of them?
@@gabe5892 Stocks are a risk regardless of volitility. Your losses are just slower lol. Arrogant comment.
@@codychadek6742 how are stocks risky?
Amen
@@codychadek6742 more arrogant answer he just asked you a question. Curiosity not = to arrogance. What would you invest in that isn’t as volatile, are you referencing etfs or some other type of funds?
The Dave ramsey show still not used to it
?
@@champagneisgoodformybrain it used to be called "The Dave Ramsey Show" now its called "The Ramsey Show" probably because dave is getting older and might retire/die soon, this way the name of the show won't have to change.
@@2kalabacha lol or so they can incorporate the 2-host system for years to come. Dave is only 60 years old. He’s not dying any time soon 😂
@@WestZ People can die at 60.
@@fitybux4664 LOL ok. You’re missing the point buddy
Nah Dave. You built this. This IS THE DAVE Ramsey show
YES
The caller seems responsible and if he has good relationship with parents and they don’t mind him staying, why move out. Stay with parents and finish your education and move once you have a good job and can financially support yourself just fine. The money he would pay for rent etc can be saved at this time which he is interested in doing.
I dont think everyone who lives with their parents till they graduate and start working should be shamed. In Asian families this is pretty much a norm.
Yeah man, In countries like India it is the norm.
Point is: total shift in spending habits after I learned that moving out, driving a new car, didn't make me any happier. Plus I felt a little bit better knowing that rent money went to my parents than another homeowner.
Most unrealistic opinion given. While you have the security of your parents perfect time to invest. A kid in NYC getting told to move out before they have any money invested making 15k a year… makes sense. By the time he moves out and builds up that emergency fund they will tell him “‘you missed the most important time of your life for compound interest”
I’m 6 and I’m all ready doing this
Dave, what numbers would he properly base his 3-6 month's of expenses before moving out if he's still at home?
No offense but even if he does finish school it’s going to take years to make a living on his own.
Not if you work hard. Top grads in my class went on to do anything they want (investment banking, Harvard business school etc) right after school
True Mike, I’ve been independent since the month I turned 19.
@@MaestroMarinelli well not everyone is lucky and that’s for a few people
@@queen.kristal8395 nah you just werent working hard enough
@@queen.kristal8395 i agree with mike, im 18 moved out, working 50 hours to support my self, its possible
Don’t move out ! Start investing in roth. Need to take all that compound interest!
compound growth/return is more accurate
I struggle to imagine a worse financial decision than foregoing free rent to pay for an NYC apartment without receiving any equity.
Don’t move out if your comfortable, he sounds like he’s got a good head on his shoulder. Save your entire paycheck and start investing, max out that Roth IRA and keep that $3000 in savings as the emergency fund.
Dave: *"Ohhhh, cellular service!"* 😏
Me: 😂😂
Nice work 🎇✨🎆
Could be a cultural thing 🤷♂️ a lot of cultures promote staying at home till you’re married or multigenerational households. I personally couldn’t wait to get out on my own(my parents couldn’t either lol)!
If his parents' are in a complete financial secured position where their grown son can live with them rent free until he is 28 to 30, and not contribute anything as for as paying rent, utilities, insurances, food etc, then I guess it's cool. But if this isn't the case he needs to help out with the finances in his parents home to ease the burden on them or move out and find his own place. If you're an grown adult building your wealth off your parents struggle, that's called being selfish.
If living with parents/family is working there is no reason to move out for the sake of simply moving out, regardless of age. In many cultures multigenerational households are the standard arrangement. In fact it is very good position financially. OTOH, if it is interfering with a person's ability to be an independent adult (such as the time leading up to marrying and have kids for example) then yeah moving out of the same household is an important way for a lot of people to gain their autonomy.
I'm 24 just graduated hopefully starting a job soon. With how housing is rn, I wont be moving out till at least 26 probably 28. My plan is to just contribute to household bills until then, and I will invest nearly every dime i make.
$15k a year living in NYC and being told to move out…Next time he calls he’s gonna be $20k under asking what he should.
🤣😭😩
Whats so important to move out? Thats when you can grow your money the fastest, also if u have a good relationship with your family of course you can help them out with bills
He said Dave Ramsey show 😂 classic he knew he wanted to say that
Dave let’s me know that I can be a financial advisor with no experience whatsoever
The new name of the show is ‘The Dave Ram, Er, The Ramsey Show’
Why did it change it anyways
Dave logic: You need to be ready and save money, but you also need to move out immediately and pay rent before you're ready in the biggest housing bubble in the history of mankind
Get your own place and your life will completely change! 🔥🔥🔥
I’m 20, junior in college, live at home, I work 16 hrs and 15 dollars per hr,
What should I do with my mone?
When should I move out?
@@peterjazii6925 if you have a good relationship with your parents don’t leave. Get as much money as you can and buy a cash condo/ small house. Life is stressful by itself without debt with it, it’s unbearable
@@peterjazii6925 Before 28
@@peterjazii6925 save as much as you possibly can and try to buy a place
@@mokshavortice That's not what he is doing, he just wants to keep going to school until he is almost 30.
Hello I am nick and I like talking finance
Getting your own place isn’t necessary if the situation is fine at home.
I mean, if you don't care about growing up and becoming a man. It's okay to be an overgrown child until you're what, 30 or so?
@@drewschumann1 Why pay more rent if you’re saving money at home with your parents. Wouldn’t you say the right time to move out is when you have at least 20% down on a home?
@@drewschumann1 Coming from someone who spent too much of my 20's w/ a parent, I agree fully. Staying home may allow you to save money but does not prepare you for the real world.
@@juliancontreras4841 Nope. There is a dignity, a responsibility, a proof, that goes with taking care of yourself. There's more to life than money. Extended adolescence is never healthy.
Comments above are for city folk. We don't think like that on the farm.
Why did he change it to the Ramsey show??
Started my Roth at 21
If you're 23, you should be investing UNTIL IT HURTS.
That right and I’ve been highly strategic that’s why I use the service of a Financial advisor. He’s been the reason for my success, he trades on my behalf and manages my investment portfolio very well. I can refer you
Play it safe though. Put like $100 in. Dave acts like you need to invest thousands.
@@IWantToMature85 You have $100 invested? At what age? With what sort of job salary? That seems very low, unless you're just a teen doing paper routes.
@@fitybux4664 I don't have any invested yet, but I feel like that should be a start.
@fitybux4664 I'm at $40k though as I just started working full-time. How much would you recommend investing?
if he's 23, a couple of years to finish studies making him around 25. a few years after that to save up for deposit for his own home, moving out around 28 kinda makes sense!
Exactly. Dave is strange when it comes to the idea of moving out
Just check WSB for tips and tricks !
Is the Ramsey show now! I never noticed
You don’t have to move out asap bruh, honestly living w my parents is awesome! Lost of money saved
I know I'm not suppose to comment this on your post but I'm sharing this because I have been blessed with his guidance and technique, he had helped me achieve my dreams at first I thought it was all lies not until he proved me wrong God bless you sir Benjamin Albert
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3-4 bedroom is 850k -950k in my old county....good luck...lol
Do not move out! No rush pay rent & when u have enough money to live stress free do so. I had to move back with my parents I was 24 good job and 60k in savings sucks cuz now I’m 30 1 kid on the way my job won’t give me a raise and currently looking for another one
I don't know ask Dave
DAVE's BACK!
I like buying single stocks if it's actually a company I fully believe in. Nothing wrong with that
The Dave Dave. The Ramsey show.
How do I call at this show?
They impressed by that? Ive had my life planned out since 13, im 27 now and killing it in my industry.
Just got done watching the full episode finna watch another
Anyone know why he went from Dave Ramsey to Ramsey show?
We have pensions in the UK and I don't plan on paying much into mine incase I don't reach retirement age.
I think you should look for a Financial advisor to help you grow and maximize your income so that you don’t have to think about your retirement plan. My Financial advisor makes me 175% profit from my income monthly so I don’t have to stress
@@gabrielmaximilian7148 stocks and shares isa seems the way forward
Stay for as long as you can, within reason. Save that money