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.
@@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.
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 opened an ROTH IRA at the age of 27 and put the maximum amount possible for 2024. I feel foolish for letting my life fall into order so slowly. The issue at hand is how to invest the funds most profitably in order to save for retirement
You're 27 years old. It is alright. The compound interest period has begun. To build a strong foundation and reduce risk while maximizing gain, I think all investors should begin with ETFs. From there, they should diversify across a range of asset classes and continue to invest consistently and systematically
You do not need to locate the next NVIDIA to be successful in investing. Simply choose top tier ETFs and work with a financial counselor, as I did. I turned $90,000 into $53,000 in annual dividends, which is a huge accomplishment for me today
Impressive! I admit I'm scared about retirement as I turn 60 on my next birthday. I need to ensure I have enough money to survive on. How can I consult your advisor? My retirement account isn't performing well
''Aileen Gertrude Tippy'' is the licensed advisor I use. Just research the name online you will find necessary details to work with to set up an appointment
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
The issue is most people have the “I will do it myself mentality” but not skilled enough. Ideally, advisors are perfect reps for investing jobs and at first-hand experience, my portfolio has yielded over 350%, since covid-outbreak to date, summing up nearly $1m.
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with please?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Rebecca Nassar Dunne” and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
I am 53 and retired at 50. 1 thing I did do to retire early was to get out of the 401K and IRA programs. Bought rental real-estate and I am now a Limited Partner in about 1500+ units from collabrative efforts in the fund my estate planner has me invested in. I do not work.
I only contribute 5% to get full company match, that’s it. The 401K plan is designed for you to work until you are about dead. Also, the government does not have their hands on it yet either.
My wife and I live off of our 401K. We don't work. I recommend highly to everyone to build your 401K or Roth IRA's as an alternate revenue stream in retirement to your Social Security. An observation on 401K's is when it gets over 300K it starts to accelerate. When you get over 500K it can really accelerate as the stock market grows.
I learned about govt actions from cfp in ny by name ‘’Aileen Gertrude Tippy’’ . Ms. Aileen explained the benefits of long-term Treasuries and alternative investments, which the govt doesn't disclose.
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.
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.
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.
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.
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
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.
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!
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.
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world.
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
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.
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
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.
i don't follow this guy but stumbled on to his channel on the recommendation list. if your broke don't be ashamed to be living at your parents house, if they are willing. Spending $500-$2000 month on rent is better saved on assets that grows in value like ETF, Index Funds, or money saved on a HYSA for a down payment on a house. Paying rent is money you will never see again so why try to move out of your parents house. Put 80% of your income on education, find yourself a well paying job, do monthly contribution on S&P500, ..... than once your are settle leave your parents home in your late 20s or late 30s. we don't care if you live at your parents house but we know you are saving rent money. I'm sure this guy gives great advice but this one isn't.
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.
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 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
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 like investing in close-end funds that pay monthly dividends. The trick is to hold long term and reinvest the monthly dividends plus buy more shares on a monthly basis or whenever you can afford to. This can be easily done because close-end funds are bought and sold on the stock market just like regular stock. That’d be enough to create a portfolio that would pay you between $50k to $70k in dividend income
Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional
I agree; I have approximately $1m in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius!
Everyone needs more than their salary to be financially stable. Best thing to do with your money is to invest it rightfully because money kept in reserved is dormant.
As an investment enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and directions I need to approach to help me make decent returns.
Proper research, good analysis and luck is what you need to make profit in this market. Is all about finding the right moment to take advantage of and generate a stable profit, reason every trader need to make some research.
As long as you have a good risk management strategies trading is easy . I do 5 account 500k a day and pull 50k a month out. I use the safety trade system for insanely accurate entries on every timeline. With Mentor DEREK MIA SCOTT 🧡
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.
I am at the beginning of my "investment journey", planning to put 85K into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
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.
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.
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.
I'm new to cryptocurrency and don't understand how it really works. how Can someone know the right approach to investing and making good profits from cryptocurrency investments?
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Gomez. A widely known crypto consultant
I started working with Alex Gomez back in June, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.
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
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
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.
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.
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.
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.
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.
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
I came to the US from Macedonia at the age of 14. I am now 42. Fully integrated/assimilated-i feel more American than Macedonian. The one thing about American culture i still can’t wrap my head around is this stigma associated with living with one’s parents and the rush to get out. To kick out your child at 18 or start charging them rent. There’s nothing more fulfilling, more amazing than good family life and a strong bond a person can maintain with their parents or children.
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)
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
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
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?
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 got my house a couple years ago when I was 26. You do not need to invest your money just to buy a home unless you want to pay in full. But, you will not be able to quadruple your 80k through stocks in 4 years. You already have enough for a down payment on a small home. My advice to you is to focus on your career, ask for a raise, and work towards building your credit. Take 20% of that money you earn and invest it in the S&P500 (IVV, VOO, FXAIX, etc). If you make ~60k a year (after taxes), then this will get you around ~55k after 4 years of investing. That should leave you plenty for emergencies and cost-of-life expenses. Once you sell the 55k in stock, you will pay taxes on the capital gains. This should leave you with ~53k in stocks, plus your current 80k, plus your other savings over 4 years. That should be enough to purchase a townhome or pay off a large chunk of a mortgage for a nicer home. I wouldn't waste my time with dividend stocks unless you own a substantial number of shares. That $3 in dividends isn't going to do anything. It is usually better to invest in stocks that don't pay dividends because that money is going into the company and will earn more money. If you want a nicer home, 400k+, then you will need a loan. You need proof of income and a good, if not great, credit score. If you pay 20% or more for your down payment, then you will avoid the mortgage insurance and you save money in the long run. You will not be able to pay for a decent home in 4 years with 160k in savings. So, you will likely have to get a loan. The bank will request your proof of income to ensure you make enough to meet your monthly payments... And trust me, if you don't make steady monthly income, then it will be a headache. In my situation, my wife and I both received raises during the purchasing process and they saw a fluctuation in our monthly pay... they didn't care that we were making more money, they viewed it as volatility. And it would happen again when my wife would pick up a few more shifts and earn more money. Also, if you are purchasing this house with someone else, the bank will use the lowest credit score to calculate your interest rate. People who never had debt have a very low credit score. People with a shallow history of paying off debts have a low credit score. The average person does not make or save enough money to purchase a home without using a loan. Only 40% of Americans have paid off their home. And only 37% of homes purchased in 2023 were purchased in full (due to the high interest rates). The majority of these homes were condos, typically cheaper than a normal house. Also, interest rates are going to drop in the next year or two. So, you'll likely get a better interest rate the longer you wait. AND, make sure you pay more to your principal each month if you can.
Considering the current market uncertainty, it seems prudent to invest in gold or a gold ETF. I'm thinking of allocating over $300k for retirement purposes. While the potential for short-term gains in a bullish market is appealing, I recognize the importance of maintaining a long-term investment strategy.
Gold is seen as a safe bet during economic ups and downs. But investing in it can be tricky. Some people lose money because they don't understand how it works. So, it's wise to be careful. I suggest talking to a financial advisor who can help you figure out when to buy and sell.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
I really want to get in with a financial advisor this year, especially as all markets are hitting highs. I don't want to be too optimistic and end up losing everything.
Rebecca Nassar Dunne has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
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
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
Thank you for this, I must say, Heather appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call
I'm ecstatic with Trump's win and the year-end market surge. Which hidden jewels in the upcoming bull run would you buy with 150 grand right now? My goal by 24 is to position myself for a prosperous Q1 in 2025.
Index Funds & ETFs: 40-50%, Emerging Markets (e.g., VWO): 10-15%, Dividend Stocks: 10-20%, Growth Stocks/Small-Caps: 10-20%, REITs: 5-10% Remember to always work with a knowledgeable person in the financial market when starting out to avoid getting burnt.
"DCA" is the golden term but the key. My dollar portfolio i DCA with is made up of 30% SCHG, 25% SCHD, 15% VOO and over 30% in digital assets, thanks to my CFA. This strategy is what works for my spouse and I. We've made over 80% capital growth minus dividends. Q3 taxable divs this year was $18,388.
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.
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 :/
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.
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.
With current rental rates in major cities, if you live in a big enough house with your parents that is bought for then there is absolutely no problem continuing to stay. This is how most Asian families save money together. People move out once they get married. I just started working. I'm 21. I stay with my parents. Apart from the health insurance that I'm covered under my father's plan, I pay for everything else that I consume.
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.
@@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.
I moved out at 20, came back at 27, and honestly, I love it. it's easy, pay my parents 500 a month going toward their mortgage, and it has given me the flexibility to invest and build a portfolio around 120k
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
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 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!
@@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?
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.
@@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.
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.
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.
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.
@@parispierre10 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
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 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!
Crypto is risky as many would say but I think the actual risk in Crypto is not investing, buying the capitulation isn't a tough call, but it is a very tough call to figure out what to do aside holding. 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
I'm new to cryptocurrency and don't understand how it really works. how Can someone know the right approach to investing and making good profits from cryptocurrency investments?
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Coach Alex. A widely known crypto consultant
I started working with Coach Alex back in June, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.
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”
This time last year I considered crypto without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. I got into the market with 15k, One year and a couple of months in, and I’m up with 550k. I truly cannot stress enough how helpful experts in this field are!
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Ryan Donald is my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns..
Ryan's unique strength lies in his realistic approach, which sets him apart from other brokers that often set unattainable targets and fall short in delivery
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
@@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.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family....
@CarlosTheilmann Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY* ...
@CarlosTheilmann *MARGARET MOLLI ALVEY* her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy
i’m 22 and live with my GF and her mom. I do have to say that i disagree with having to move out of parents house as fast as possible. I essentially live with my GF and her mom for free, whilst helping with handy work they need around the house. I just secured a really good job with amazing benefits. My / OUR plan is to save up for a great down payment on a house, which would be a bit more difficult if we rented an apartment especially now with how pricing is these days. I personally think living with parents for as long as possible, if they are obviously okay with it, is just fine as long as you’re contributing. It gives you ample time to save up for an apartment or for a house, and it is helping me tremendously.
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.
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)!
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
Does any Dave Ramsey caller ever politely ask not to be hung up on half way into the show? Dave: "NO WE HANG UP ON YOU SO WE CAN SAY THINGS WITHOUT YOU BEING ABLE TO RESPOND!!!"
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?
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?
Great analysis! I have a separate question: I have the OKX Wallet with USDT, and I have the seed phrase. (job priority warm lab border boil monkey manage palace fiber weird ask). What steps should I take to transfer them to Binance?
Absolutely nothing wrong with staying at your parents' house & stacking cash. As long as you're happy there and they're happy to have you, May as well take advantage. I'm 23, have over 50% my income in savings, & 100% debt free. No way in hell I'd be able to say that if I had moved out at 18-20 like boomers expect you to.
I am 19 years old, and always had been in the realization of "Why the hell should I need to work until the day I die", due to this I have had very little sleep, and I am always so worried about the next day and barely just making it. I currently almost have $10k savings and I want to invest, but I don't know how, or even what to do, I know literally nothing about it.
also 19, also similar financially, i'm just sticking to ETFs rn. no individual stocks until later. if you drop 10K into a regular degular ETF doing ~10% a year, that's an extra thousand right there, and more as it compounds. UNLESS you are able to start a business rn / "invest in yourself" (if you're not in school), then a lot of these old men will tell you to do that with your first 1-10K. i'm in school and i don't have the mental capacity to deal with stocks research or running a full-fledge business, so I just stick to the ETF bc something's better than nothing right?
I live in Australia, and the big 4 banks are great dividend paying single stocks. There's no risk in investing in the banks because of they go bust the economy will go bust.
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.
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.
thats the dream tbh, keep it up
I opened an ROTH IRA at the age of 27 and put the maximum amount possible for 2024. I feel foolish for letting my life fall into order so slowly. The issue at hand is how to invest the funds most profitably in order to save for retirement
You're 27 years old. It is alright. The compound interest period has begun. To build a strong foundation and reduce risk while maximizing gain, I think all investors should begin with ETFs. From there, they should diversify across a range of asset classes and continue to invest consistently and systematically
You do not need to locate the next NVIDIA to be successful in investing. Simply choose top tier ETFs and work with a financial counselor, as I did. I turned $90,000 into $53,000 in annual dividends, which is a huge accomplishment for me today
Impressive! I admit I'm scared about retirement as I turn 60 on my next birthday. I need to ensure I have enough money to survive on. How can I consult your advisor? My retirement account isn't performing well
''Aileen Gertrude Tippy'' is the licensed advisor I use. Just research the name online you will find necessary details to work with to set up an appointment
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her
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
Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg.
The professionals presently control the market since they not only have the essential business strategy but also have access to inside information that the general public is not aware of.
The issue is most people have the “I will do it myself mentality” but not skilled enough. Ideally, advisors are perfect reps for investing jobs and at first-hand experience, my portfolio has yielded over 350%, since covid-outbreak to date, summing up nearly $1m.
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with please?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Rebecca Nassar Dunne” and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
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
I am 53 and retired at 50. 1 thing I did do to retire early was to get out of the 401K and IRA programs. Bought rental real-estate and I am now a Limited Partner in about 1500+ units from collabrative efforts in the fund my estate planner has me invested in. I do not work.
I only contribute 5% to get full company match, that’s it. The 401K plan is designed for you to work until you are about dead. Also, the government does not have their hands on it yet either.
My wife and I live off of our 401K. We don't work. I recommend highly to everyone to build your 401K or Roth IRA's as an alternate revenue stream in retirement to your Social Security. An observation on 401K's is when it gets over 300K it starts to accelerate. When you get over 500K it can really accelerate as the stock market grows.
If I may ask, as in withdrew all of the money from the 401K and IRA programs? If so, what was your strategy behind that decision? Thank you.
I learned about govt actions from cfp in ny by name ‘’Aileen Gertrude Tippy’’ . Ms. Aileen explained the benefits of long-term Treasuries and alternative investments, which the govt doesn't disclose.
Found her online page by searching her full name, I wrote her an email and scheduled a call, hopefully she responds.
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
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.
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?
@@JoaoAraujo-mv9en225 is quite young for a vampire, so same thing.
@@JoaoAraujo-mv9en😂😂😂😂
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.
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!
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
The problem we have is because Most people always taught that " you only need a good job to become rich " . These billionaires are operating on a whole other playbook that many don't even know exists.
Money invested is far better than money saved , when you invest it gives you the opportunity to increase your financial worth.
It is remarkable how much long term
advantage people like us have gotten by trying to be consistently not stupid,
instead of trying to be very intelligent.
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world.
Many individuals report success in investing in stocks,fx, yet I continue to struggle.Can somebody help me out or advise me on what to do?
Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
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
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
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.
You're lucky to find anything under 380k in Tennessee lol
@@BudgetBoysGarage Not in March of 2021... This kid would be have earned over $100k in equity if he bought a house in Tennessee at that time.
i don't follow this guy but stumbled on to his channel on the recommendation list. if your broke don't be ashamed to be living at your parents house, if they are willing. Spending $500-$2000 month on rent is better saved on assets that grows in value like ETF, Index Funds, or money saved on a HYSA for a down payment on a house. Paying rent is money you will never see again so why try to move out of your parents house. Put 80% of your income on education, find yourself a well paying job, do monthly contribution on S&P500, ..... than once your are settle leave your parents home in your late 20s or late 30s. we don't care if you live at your parents house but we know you are saving rent money. I'm sure this guy gives great advice but this one isn't.
Cause no one wants to live in Tennessee
yea I don’t like daves advice on this one either. When you have no bills is the best time to be contributing to a roth ira
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?
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 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 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 like investing in close-end funds that pay monthly dividends. The trick is to hold long term and reinvest the monthly dividends plus buy more shares on a monthly basis or whenever you can afford to. This can be easily done because close-end funds are bought and sold on the stock market just like regular stock. That’d be enough to create a portfolio that would pay you between $50k to $70k in dividend income
Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional
I agree; I have approximately $1m in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, having a portfolio-advisor for investing is genius!
I find your situation fascinating. Would you be willing to suggest a trusted advisor you've worked with?
Her name is Sonya Lee Mitchell. I can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I have googled her and she has impressive credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
We work for years to earn £1million on our retirement while some people put thousands of dollars in some meme coin and they become millionaires
Everyone needs more than their salary to be financially stable. Best thing to do with your money is to invest it rightfully because money kept in reserved is dormant.
As an investment enthusiast, I often wonder how top level investors are able to become millionaires off investing. I do have a significant amount of capital that is required to start up but I have no idea what strategies and directions I need to approach to help me make decent returns.
Proper research, good analysis and luck is what you need to make profit in this market. Is all about finding the right moment to take advantage of and generate a stable profit, reason every trader need to make some research.
As long as you have a good risk management strategies trading is easy . I do 5 account 500k a day and pull 50k a month out. I use the safety trade system for insanely accurate entries on every timeline. With Mentor DEREK MIA SCOTT 🧡
@@CollinStepna.Big bumps to you, what a step you took, please any direction or suggestions from you!!! Need to start somewhere.
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.
I am at the beginning of my "investment journey", planning to put 85K into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
Guys every single one of these comments is a scam
The profile photos, names, and the when the accounts were made (one month ago) are all red flags
no advice thats a great plan
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
😂
@@MaxM-xg8vmIf he found it then that’s why he isn’t answering 😭 mans didn’t make it
Bro you alive ?
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.
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 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.
I'm new to cryptocurrency and don't understand how it really works. how Can someone know the right approach to investing and making good profits from cryptocurrency investments?
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Gomez. A widely known crypto consultant
I'm surprised that this name is being mentioned here, I stumbled upon one of his clients testimonies on CNBC news last week...
I started working with Alex Gomez back in June, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.
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
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.
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.
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
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.
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
I came to the US from Macedonia at the age of 14. I am now 42. Fully integrated/assimilated-i feel more American than Macedonian.
The one thing about American culture i still can’t wrap my head around is this stigma associated with living with one’s parents and the rush to get out. To kick out your child at 18 or start charging them rent.
There’s nothing more fulfilling, more amazing than good family life and a strong bond a person can maintain with their parents or children.
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)
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
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
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.
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
At 23? Perfect age to venture into financial investment. Wish I've started earlier
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?
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.
'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 got my house a couple years ago when I was 26. You do not need to invest your money just to buy a home unless you want to pay in full. But, you will not be able to quadruple your 80k through stocks in 4 years. You already have enough for a down payment on a small home. My advice to you is to focus on your career, ask for a raise, and work towards building your credit. Take 20% of that money you earn and invest it in the S&P500 (IVV, VOO, FXAIX, etc). If you make ~60k a year (after taxes), then this will get you around ~55k after 4 years of investing. That should leave you plenty for emergencies and cost-of-life expenses. Once you sell the 55k in stock, you will pay taxes on the capital gains. This should leave you with ~53k in stocks, plus your current 80k, plus your other savings over 4 years. That should be enough to purchase a townhome or pay off a large chunk of a mortgage for a nicer home. I wouldn't waste my time with dividend stocks unless you own a substantial number of shares. That $3 in dividends isn't going to do anything. It is usually better to invest in stocks that don't pay dividends because that money is going into the company and will earn more money.
If you want a nicer home, 400k+, then you will need a loan. You need proof of income and a good, if not great, credit score. If you pay 20% or more for your down payment, then you will avoid the mortgage insurance and you save money in the long run. You will not be able to pay for a decent home in 4 years with 160k in savings. So, you will likely have to get a loan. The bank will request your proof of income to ensure you make enough to meet your monthly payments... And trust me, if you don't make steady monthly income, then it will be a headache. In my situation, my wife and I both received raises during the purchasing process and they saw a fluctuation in our monthly pay... they didn't care that we were making more money, they viewed it as volatility. And it would happen again when my wife would pick up a few more shifts and earn more money. Also, if you are purchasing this house with someone else, the bank will use the lowest credit score to calculate your interest rate. People who never had debt have a very low credit score. People with a shallow history of paying off debts have a low credit score. The average person does not make or save enough money to purchase a home without using a loan. Only 40% of Americans have paid off their home. And only 37% of homes purchased in 2023 were purchased in full (due to the high interest rates). The majority of these homes were condos, typically cheaper than a normal house.
Also, interest rates are going to drop in the next year or two. So, you'll likely get a better interest rate the longer you wait. AND, make sure you pay more to your principal each month if you can.
3years? just go with good ol' bond.
3 years is too short for stocks to be stable
@@rrandd0thats a loss??
*When you're young you can afford to take risks*
Build wealth for the future ❤️
100% in penny stocks cause I’m young 👍
Considering the current market uncertainty, it seems prudent to invest in gold or a gold ETF. I'm thinking of allocating over $300k for retirement purposes. While the potential for short-term gains in a bullish market is appealing, I recognize the importance of maintaining a long-term investment strategy.
Gold is seen as a safe bet during economic ups and downs. But investing in it can be tricky. Some people lose money because they don't understand how it works. So, it's wise to be careful. I suggest talking to a financial advisor who can help you figure out when to buy and sell.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
I really want to get in with a financial advisor this year, especially as all markets are hitting highs. I don't want to be too optimistic and end up losing everything.
Rebecca Nassar Dunne has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
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
Nah Dave. You built this. This IS THE DAVE Ramsey show
YES
Adidas track suit Dave is my favorite Dave. Putting debt in the gulag
Warzone
Living the gopnik lifestyle
Rice and beans, no restaurants
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
Give him a call! You’ll be on a clip I bet
Thank you for this, I must say, Heather appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call
you couldve been making so much money in CDs with that money😭
BOT CONVERSATION, SCAM ALERT
I'm ecstatic with Trump's win and the year-end market surge. Which hidden jewels in the upcoming bull run would you buy with 150 grand right now? My goal by 24 is to position myself for a prosperous Q1 in 2025.
Bitcoin through 2025, then high yield ETFs through the bear market 26’-27’ that's my plan.
Index Funds & ETFs: 40-50%, Emerging Markets (e.g., VWO): 10-15%, Dividend Stocks: 10-20%, Growth Stocks/Small-Caps: 10-20%, REITs: 5-10%
Remember to always work with a knowledgeable person in the financial market when starting out to avoid getting burnt.
"DCA" is the golden term but the key. My dollar portfolio i DCA with is made up of 30% SCHG, 25% SCHD, 15% VOO and over 30% in digital assets, thanks to my CFA. This strategy is what works for my spouse and I. We've made over 80% capital growth minus dividends. Q3 taxable divs this year was $18,388.
@@JordanReam8186 I find your situation fascinating. Would you be willing to suggest a trusted advisr you've worked with?
I find your situation fascinating. Would you be willing to suggest a trusted advisr you've worked with?
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
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 :/
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.
With current rental rates in major cities, if you live in a big enough house with your parents that is bought for then there is absolutely no problem continuing to stay. This is how most Asian families save money together. People move out once they get married. I just started working. I'm 21. I stay with my parents. Apart from the health insurance that I'm covered under my father's plan, I pay for everything else that I consume.
1:55 single stocks have a lot of risks. No more than 10% of your networth in singke stocks, invest mostly in mutual funds.
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.
I moved out at 20, came back at 27, and honestly, I love it. it's easy, pay my parents 500 a month going toward their mortgage, and it has given me the flexibility to invest and build a portfolio around 120k
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
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!
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?
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
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
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
Don’t move out ! Start investing in roth. Need to take all that compound interest!
compound growth/return is more accurate
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.
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 😅😀
$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.
🤣😭😩
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
Hey Nick. Don't move out. I would stay in the house and support ur family and living together.
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.
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?
@@parispierre10 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
@@parispierre10 Before 28
@@parispierre10 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.
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.
You don’t have to move out asap bruh, honestly living w my parents is awesome! Lost of money saved
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
I struggle to imagine a worse financial decision than foregoing free rent to pay for an NYC apartment without receiving any equity.
Crypto is risky as many would say but I think the actual risk in Crypto is not investing, buying the capitulation isn't a tough call, but it is a very tough call to figure out what to do aside holding. 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
I'm new to cryptocurrency and don't understand how it really works. how Can someone know the right approach to investing and making good profits from cryptocurrency investments?
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Coach Alex. A widely known crypto consultant
I started working with Coach Alex back in June, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.
I'm a beginner please how can i reach out Coach Alex
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”
This time last year I considered crypto without much knowledge and decided to have a consultation with a fiduciary, and it was incredibly insightful. I got into the market with 15k, One year and a couple of months in, and I’m up with 550k. I truly cannot stress enough how helpful experts in this field are!
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦♀of myself because of low finance but I still
believe in God
As a beginner investor, it’s essential for you to have a mentor to keep you accountable.
Ryan Donald is my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns..
Ryan's unique strength lies in his realistic approach, which sets him apart from other brokers that often set unattainable targets and fall short in delivery
No regrets, Prof Ryan daily signal is the best have ever used and i would also assure anyone seeing this to give it a try
please I'm new at this, please how can I reach him?
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?
Dave, what numbers would he properly base his 3-6 month's of expenses before moving out if he's still at home?
My father moved out his moms house at 27 years old nothing wrong with saving up until you’re ready
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
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family....
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i’m 22 and live with my GF and her mom. I do have to say that i disagree with having to move out of parents house as fast as possible. I essentially live with my GF and her mom for free, whilst helping with handy work they need around the house. I just secured a really good job with amazing benefits. My / OUR plan is to save up for a great down payment on a house, which would be a bit more difficult if we rented an apartment especially now with how pricing is these days. I personally think living with parents for as long as possible, if they are obviously okay with it, is just fine as long as you’re contributing. It gives you ample time to save up for an apartment or for a house, and it is helping me tremendously.
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.
Dave: *"Ohhhh, cellular service!"* 😏
Me: 😂😂
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.
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)!
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
Does any Dave Ramsey caller ever politely ask not to be hung up on half way into the show?
Dave: "NO WE HANG UP ON YOU SO WE CAN SAY THINGS WITHOUT YOU BEING ABLE TO RESPOND!!!"
Is Dave back???? 😲🥳🥳🥳🥳
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.
Great analysis! I have a separate question: I have the OKX Wallet with USDT, and I have the seed phrase. (job priority warm lab border boil monkey manage palace fiber weird ask). What steps should I take to transfer them to Binance?
Absolutely nothing wrong with staying at your parents' house & stacking cash. As long as you're happy there and they're happy to have you, May as well take advantage.
I'm 23, have over 50% my income in savings, & 100% debt free. No way in hell I'd be able to say that if I had moved out at 18-20 like boomers expect you to.
He said Dave Ramsey show 😂 classic he knew he wanted to say that
I only agree with him because staying with your parents for too long destroys your self-esteem and confidence.
I am 19 years old, and always had been in the realization of "Why the hell should I need to work until the day I die", due to this I have had very little sleep, and I am always so worried about the next day and barely just making it. I currently almost have $10k savings and I want to invest, but I don't know how, or even what to do, I know literally nothing about it.
also 19, also similar financially, i'm just sticking to ETFs rn. no individual stocks until later. if you drop 10K into a regular degular ETF doing ~10% a year, that's an extra thousand right there, and more as it compounds. UNLESS you are able to start a business rn / "invest in yourself" (if you're not in school), then a lot of these old men will tell you to do that with your first 1-10K. i'm in school and i don't have the mental capacity to deal with stocks research or running a full-fledge business, so I just stick to the ETF bc something's better than nothing right?
I live in Australia, and the big 4 banks are great dividend paying single stocks. There's no risk in investing in the banks because of they go bust the economy will go bust.