Number One Indicator Of People Who Retire Wealthy - Dave Ramsey Rant
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- Опубліковано 25 лют 2015
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As my father used to say to me, if you don't think a million dollars is a lot of money, try to save it.
Think * - good quote though
@@patrickpayton416 Thanks. I'll be the first to admit my spell checking sucks.
It's a good one, it's so hard to save it yet ppl say having a million at retirement it's nothing.
In soviet russia, million dollars save you.
This is awesome
Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k. My mom retired with about 4.2 million, but my dad retired with roughly 1.8 million.
This is true. I'm in my mid 50's now. My wife and I were following this same trajectory. Last two years, I pulled out my money and invested with her wealth manager. Not catching up with her profits over the years, but at least I earn more. I'm making money even before retiring, and my retirement fund has grown way more than it would have with just the 401(k). Haha.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $21k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I definitely share your sentiment about these firms. When I was starting out, I checked out a couple of freelance investors online, so you could do the same. I personally work with “Sharon Louise Count”, and she's really good.
I been listening to you since the 90s . We are debt free. I retired at 63. I now get to do what ever I choose. Thanks for the good Advice.
I am 15 and have watched all of your videos. I have read your books and get some weird looks. Best thing is to gain wisdom from others which is why I listen and watch your videos. It will pay off all through my life while my friends and others are in debt, broke, and in a financial disaster. Great Videos!
Murray Twins watch Warren Buffet not d. R
Same I'm 14😂😂 I don't want to go to college with student loans I'm going to try to get scholars
15 - you're probably the smartest one listening.
American Patriot great job!! Keep it up!
Spectro im sorry you have to worry abt the money for college. But stay extremely focused in school get the highest grades possible!! When you get into college you can work part time jobs and save save save save
literally had this exact conversation with my twin brother yesterday. I told him 100 dollars per month for 40 years is 48000 dollars, but at a 12 percent return that's 1,176,000 and he said " yea but right now 48,000 is a livable wage but in 40 years 1.1 million is not a liveable wage so I'm not doing that." I was really at a loss for words and didn't know what to say. I just sent him this video and told him to watch from 6:30
My daughter is 15 and started a small part time job this year to save money for school expenses. She asked me to help her open a retirement account to place a portion of her new, small income into future savings. I gleamed with pride. It always amazes me that broke people are always the loudest. Friends were making fun of us because we were doing this. We don't care what they think. We feel that learning to save a portion of what you make for the future is a skill that needs to be practiced just like any other. Learning to be financial independent and secure is an important lesson.
"It's scary how stupid people are." I love this man.
This stuff never gets old.
Maybe “savings rate” being the #1 indicator is because the savings mentality translates over to EVERYTHING else in life. Savings is all about preparing for the future. Those with their eye on the future tend to NOT make dumb financial decisions in other aspects of their lives.
on my way there 80k in savings, 29 yrs old
Ben Chesterman great job.
Excellent for you sweetie!!
Im 30 and I have 80k as well! GOOD FOR YOU!!! That is awesome!
That's awesome man, young man! Keep it up!
Start when you are 18 and throw in $250/month to an IRA or RRSP and when you get your tax return throw it back in. You will be staggered how much you have when you are 30. Then you can dial back a bit to $100 and still have an amazing amount at 65!
Dave is like your uncle that nobody wants to be with but he is the one you know who really cares deeply about you. If I were to be part of his family I will be luckiest nephew in the world!
In 1990 I got a new job that offered matching up to 5% in your 401k, so on day one, I did 5% plus the works 5%. Every time I certified on a position I would get another raise but I put half of it into my 401k. I did this because I knew I was NOT a good saver, but I never saw this money to spend it. Before I knew it, I was putting in 17% + my employer's 5% total of 23% into my 401k. Now I have a pension, social security and 2/3s of a million dollars in my 401k, which I moved it to something safer. And that was before I heard of Dave Ramsey. Oh and I'm DEBT FREE!!! Thanks Dave!! Oh I forgot, I retired 7 years ago at 56 yrs old, own 2 houses, paid off both my kids student loans, play golf 4-5 times per week.
Put freaking money into your retirement account!
SoulBaron how you do a retirement account from which bank?
Ramon vargas You open an IRA through Fidelity.
Chris Garner a pe a ba da a pe de pe
Ok Boomer
@@suad01 Ok loser
The person saying being a millionaire 40 years from now won't mean much is absolutely right. That's why I'm saving to be a double millionaire instead!
TheGlideIsHere it's better than nothing!!! I'm saving for double that too!
My retirement isn't that far off......I'm aiming and on track for 1.6 million, perhaps 1 or 200k more. 1 Million would be doable, but I'd rather live a little better than just good enough.
I love this comment!
If you aim at nothing you hit it every time. Dave is 100% correct!
@@DigitalHaze65536 I agree. The sad part is that all the people who do this will end up paying for all the now elderly people who did not.
Simple fact. It took me five months to save over 1,500 in two savings accounts. Not because of the interest rate. Because of the money I was putting in them instead of the fast food places.
I want to retire with DIGNITY! Thank you Dave!!
2/3 of African American seniors depend on social security for 90% of their money and I know many of them. Let me tell you it ain't a great life. Save your freakin money people
Yup, invest 15% of your gross income every month. I started at age 30. The younger, the better.
Save your money or invest it ???
The number one indicator of having a lot of money in retirement is saving money for retirement.
How is that not common sense. If people didn’t know that god help them
@@MOON-zo3ik he's talking about people who search for the magic 20% investment etc. I doesn't matter if you do 50% return on your 3% retirement savings plan. Just upgrade your plan to 15%-20% and you'll be fine ^_^
“Common sense is an uncommon virtue”.
@@MOON-zo3ik Many do not because they are living paycheck to paycheck and just trying to survive.
The number one indicator of having a lot of money for retirement is *investing* money for retirement. If you save $100k in a savings account, in 5yrs you'll have around $88k in equivalent buying power.
"Your parents are cousins." Ha! I choked on my lunch when I heard that! Lol!
lol xD
shout out to my parents
That's actually pretty common in much of the world.
@@nolongeramused8135 i agree lots of tribes out there !
We started sorting out our mess late at 44 years of age. Fast forward 9.5 years combined with these principles and we've turned it around. Now we have no debt, a mortgage free house and 260k NZD invested so far. Small bites of the elephant, frugal living and consistent investing wins in the end.
i was taught to save 50% of my income from my first job at age 14. because my birth family died early, before age 50. i decided i wanted to retire at age 45. at age 27, i really began to dump as much into savings for that goal. i also bought gold. during this time i married, had two children, served in the US Air Force. because all that cash was behind me, when Murphy and his bag of nasty stuff showed up, i was ready. i was medically retired after my plane crashed. my husband decided he loved somebody else. cancer came calling at age 40. 1/1/2000 was my last day of work, ever. because i’d saved 50% of all my income, i got my military retirement. i became a stay at home mom, by default. G-d killed off the cancer, i just lost a portion of a brain. the upside, i paid cash for my children to go to law school and medical school. my home is paid for. so at 57, i actually make more per year than any year i actually worked! it can be done. my children have followed my example and are well on their way to living a nice life. i don’t know what their dad has planned for, but they won’t have to care for me.
Jobelle Collie Wow, Awesome!!! Bless you!!!
Jobelle Collie 0p0p
Jobelle, God bless you... you're a $ ROCKSTAR!!❤
u are one brave survivor
You're a badass.
Every dollar not spent is a dollar saved. Every dollar saved is a 100% return.
Probably biggest indicator is they aren't caught up in financing every few years 40k vehicles and stuck in huge car payments for whole life. They buy a nice modest used car for cash and use it for 8 plus years.
Mark G
Doing the numbers I've spent less than $44k on 5 used cars in 40 years.
Most people I know and work with spent a minimum of $250k in 40 years.
8? Those are rookie numbers. I'm at almost 20.
I did a quick calculation. $1,000,000 in 2015 was worth about $2.2 million in 1985. So in the year 2045 it may be worth $480,000. With 0% growth.
I will take that over worrying about how i'm going to eat tomorrow in the year 2045!!!
Dave is right!!
+wood brass and glass just give up then.
Yeah but a 1000000 dollars ain't gonna be worth that much lol!
+terminaterjohn no he said it correctly. with a 4% inflation rate, x amount of money 20 years ago is worth less today if it received a rate of return lower than the inflation rate.
which is why you need to retire with atleast 4 million plus in future
You also have to factor in that you didn't invest $1MM to get a $1MM in 2045, you've invested a fraction. so even if you get $200M..guess what, you're still on top.
I am in China and listening to your every word. Thank you for creating a platform that educates and motivates when it comes to money. My 16-year-old niece loves you as well and she's saving her money right now and learning from you. Thank you, Mr. Ramsey.
J. Flaner Hello China from the US!
@@ImOldandSoAreMyBooks Hello there! Going on month two and I love it! I love teaching and teaching in Asia is the best!
The piece of research in this video backs up what Dave has been saying all along...your biggest wealth building tool is your income. When you have money and budget, your savings rate will be the beneficiary.
I appreciate this Dave. Unfortunately, you tend to encourage people to pay off their student loans and their mortgage before they contribute to their 401k's. People have to do both. You shouldn't wait until you're 36 years old to start putting money away toward retirement. The earlier you start, the better off you are.
“Its scary how stupid people are!” Lol classic line Dave 👍
And all too true! Even scarier when stupid people go to the polls...
"Your parents are cousins" LOL omg this man kills me
Well...100+ years ago, if you're royalty, you're probably in the top 1% in your country, and chances are...your parents ARE cousins, at least distantly.
My favorite comment😂😂😂
That's actually the NORM in some countries: Saudi Arabia, Pakistan, for example where up to 70% of all couples are FIRST cousins.
❤️❤️❤️
Its a regional insult.
I am a full time student and still manage to save more than everyone else in my family who all earn over 50K per year. ( i do live out of home too ). I don't get it how people can't see this issue.
thanks mate :)
every situation is different.. Don't compare yourself to individuals , compare yourself to the mean
Another great video. Hope I am done with mortgage within 10 years (400k). Keep a small part in my retirement account. Best advice I got: Pay yourself first! Now all money which goes away and not increase my invest/safings hurt. :)
@@Blubbha Do you have children? i have a 250K mortgage and hope to be done in 25 yrs. I need to double down on payments for sure, but how are you doing it in 10?
@kirk McAllister the best way is to increase your income. You can only cut your expenses so far but your income doesn’t have an upper limit. If your wife doesn’t work get her back into the workforce once the kids are a bit older. That second income will help a lot with the mortgage, just put it all to paying down the debt and watch the number drift down to zero.
I started late because of a financial mistake with credit debt got out of debt. Started in my early 30s. Took max match on 401k 6%. Every year took half raise and put to saving. I'm turning 58 at 16% hitting just shy of a mill and put 2 kids through college. If I had started in early 20s estimated I would be at 2 mill. Thats what compounding can do. Please listen to dave.
Thank you!! I needed these videos. I just signed up for my jobs 401k at 10%. I've been here for 2 years already and am kicking myself for not taking advantage.... But im 26 so better late than never. Thank you Ramsey
Not to worry. You're still starting early enough. Over the next few years, try to get that savings rate up to 15% as Dave suggests. (Maybe increase it by 1% a year?) Although I'd begun saving a little in an IRA before then, I, too, started saving in my company's 401k plan at age 26 (at, I believe, only 5% to begin with, so you're already ahead of the game), and my balance is looking great 12 years later. You will do just fine, I think. :)
Your still in your 20s you still got time ✊🏾✊🏾
I'm so thankful for the place I'm interning at. I can't afford to contribute because I'm trying to cash flow as much as possible until I finish college, but they automatically match 4%. It's not much, but I'm glad to be ahead of most other 21 year olds when it comes to retirement.
You still have plenty of time. Some people are twice your age and haven't saved anything. Have a saving plan and do your best to stick with it for a long time.
I did 40 percent for the past five years. I learned to not miss the money, plus I paid very little federal income taxes. Basically, I lived on what my Social Security benefits might be someday. I wish I'd done that my first 20 years as I'd be well into the millions by now, not that I'd know what to do with that kind of money as don't really need it - now anyways. When I'm 85 I'll need it. Students in school should be taught basic finances and investing.
TL;DW
"74% of the reason people retire with dignity is because they save money."
No, its SAVINGS RATE. Saving as much % of income and investing it in index funds dictates how well you will be in life.
“Your parents are cousins”…. Dave your killing me! Thanks for the laughs!!! Keep up the great work.
Sweet Home Alabama
This guy is hilarious! 🤣🤣🤣
"Social Insecurity " lol good one!
Thank you so much, dear Sir Dave Ramsey! It is so nice to have you on the earth!
Preach... it gets so old hearing people say, “well with inflation..... it won’t be worth half of what it is now...” garbage
I am a huge financial nerd.
"72 Ways to prepare Alpo".... such savagery. I love it.
Every now and then I listen to you just to check if I am doing right things financially…
My dad said, "saving so early, by the time you retire, it wouldn't be enough to buy bread". My older sister said, "what if you died before you retired. It's better to enjoy now?!"
Reply To Dad, "at least I have something to buy bread".
Reply To older Sister, "it bring comfort knowing if money out live me. The people left behind will enjoy it".
30 years later, I'm proud to say, I can retire whenever I want to. Compound interest, dividend reinvestment, raising real estate value does wonders to the bottomline. The secret is to start young. The younger the better...
How do you start if you know nothing about how all that works?
@@yeahgirl11 Learn every day.
For starters, read "The Little Book of Common Sense Investing". Then you can read a book on real estate if you want, but the first book is all you need to be convinced to start investing passively in index funds.
Good thing you didn’t listen to them. Your dads advice demonstrates that people really don’t understand compound interest.
Betcha dad has a pension and sis is green with envie and not much fun to be around.
He's not wrong; at all! I started mine last year and personally contributed 3.5k. Between compounding interest and employer matches, I ended the year with 8k! No joke! I just switched jobs and they won't let me start contributing again for another 2 months so it's driving me crazy! My goal is to be able to retire by age 40.
+The Megan Experience You can always invest in an IRA (Roth or Traditional), while you wait for your job to start letting you contribute to your 401-K.
I have to do research on this. I forgot what I am contributing to my 401k
avburns
Heck that Roth IRA should be maxed out each year automatically.
Also taxable savings and other investments each year like qualified dividends and tax free muni bonds.
Don't just do the 401k only.
You need to be able to have options to blend your income during retirement.
Get with a broker! Don’t always depend on “the job”. The job won’t depend on YOU.
@@avburns .... Fyi... I only do "Roth IRA" now. In the old days they only had Traditional IRA's which we did. Once we start taking that money out, we will have to pay taxes totaling apx. $350,000.00. Currently, your children can inherit your IRA's, so with a Roth IRA there earnings would not be taxable. (I think that is what I'm understanding, but those politicians are talking about changing that but you still benefit.)
The Megan Experience.... Unless you are really rich, I encourage you to continue to work after age 40. Just find something you love doing. Money flies out the window faster than you know. You may develop health issues and insurance doesn't cover everything unless you pay a lot for insurance coverage. Investments can go south. (I know people that had bonds that went defunk... over $600,000.00 gone from there retirement funds.) Good luck.
don't knock money magazine. the info I learned from that mag when i was 21 (I'm 45) made me rich. I learned the rule of 72 (look it up) and I made a giant commitment to saving and investing in index funds. My wife is a big time exec at a top 3 wall street firm and I have a degree in finance and nothing either one of has learned over the past 24 years has topped the power of the rule of 72 - money doubles every 12 years at 6%....Forget about big returns, if you focus on never getting a negative rate of return, and averaging 6% will be enough to make you rich if you just commit to dumping in the cash.....
I know, he's so arrogant sometimes it shocks me.
He makes money from advertising tied to high fee mutual funds. If you really want to talk about a "study" you can see how much high fees cost you in the long run. He is a smug, arrogant SALESMAN. That is it.
Cory Blevins you know this for fact?
I am only an old country boy, but after listening to Dave for 2 decades and following his advice, I have yet to meet anyone that has actually tried following his advice that becomes worse off. When I started listening, he was on less than 100 radio stations, but I have followed it pretty diligently and managed to average better than the S&P, net fees, and I am just a stupid truck driver. Some of us would just like to thank him for laying out a simple way to win.
Vanguard is hard to beat. a mix of large cap, mid cap, small cap and international index funds, along with cash and a short term bond fund would work for most people. the exact balance would depend on your age, investment time line and tolerance for risk. Vanguard ETF's would work just as well. Good Luck.
Love this dude!!!!
He's got me killing it!
I started with nothing and am now comfortable. My path was similar to Ramsey's. If I had followed his path exactly, I would probably have 5x as much by now.
I love your show Dave!!
moral of the story.....more work less studying. not saying that you shouldn't study because it is vitally important, but 100% studying and 5% action will not yield much! Thanks Dave!
This video is straight forward good advice. Nice job Dave!
life changing free advice, can't beat that. thank you !!
Amazing the things people collect. Collect MONEY!
Thanks Dave!
Truth! So thankful I found you Dave. God 🙏 Bless!
What’s interesting here about the 100 a month comment not being worth anything due to inflation is the 100 is never adjusted for inflation. Now run the numbers with 100 a month for year one then every year increase that 100 a month by 3%.
The historic stock market CAGR is not 12 percent, more like 7 before inflation. Just like its said that most actively managed funds cant beat an S&P and good luck finding the ones that will consistently very few funds consistantley do 12 percent. Its worse with people stuck in 401k's that usually have poor choices.
It doesn't need to beat the S&P every year, to average out that way. There are a ton of mutual funds that average well over 12%. Some years you might get 7 -10% others you might get 13-20%. It does definitely depend on the choices you have on 401ks, but roth IRA's are there for everyone.
Most actively mutual funds do not outperform the index, thats over 80 percent. Of the ones that do, even fewer can do it consistently. The little guy has a better chance of outperforming the s&p doing it themselves. The active funds have a harder time due to expenses and they are too big and therefore too confined to move properly.
Read Dave’s books in high school. Retired at 24 a millionaire. Drive a Porsche. Golf with and listen to wise old people. Savings rate 75%. No debt. ROR 18%+.
Thanks Dave! 💰 😊
Great perspective Dave. Save early and often.
Just when I’m about to get a pay bump next month this pops up in auto play.. thanks Dave!
Been following Dave since the early days. It's payed off big time.
Hasn't taught you to spell.
The ones who retire wealthy are the ones who answer the following question: "Why should I save money for retirement when I could die tomorrow." in the following way:
"What if I don't die tomorrow?"...................
Vern Shein
💯 some things are just simple.
@@Kenya1984 lol
Because government..
Yes it's frightening how people are careless and play with their own lives thank Dave for the insight calls God bless
I think this is one of my favorite rants
#1 indicator of people having money in 401ks = people putting money in 401ks
We just live within our budget. We pay ourselves first. I retired at 39 and just work cause I enjoy still mentoring to soldiers.
Im doing it and it feels good, im way behind but im making progress...Thanks for the encouragement!
Dave had me at the edge of my seat waiting for a answer! Talk about wait for it....lol!
Surprised he thought it was rate of return. I'm quite good at saving and investing but I didn't think it was terribly difficult to guess that savings rate was the most important factor. This is actually my mantra when I give people advice. Too many people try to focus on being great investors when it is a lot easier and more impactful to be a great saver.
Yup.. Engineers don't make much money in the UK. So when I emigrated to the USA 21 years ago I immediately had a savings rate of more than 50%.. I paid my 30 year mortgage off in just over 6 years, then invested the rest.. I retired 3 years ago and my Wife retired last week at the end of the school year.. Boom done!
Frank Hinde I beg to differ now, engineers are getting paid well these days in The 🇬🇧
Trey Troy
I have a feeling he doesn't care much at this point.
@@treytroy190 Salary is about double in the USA than the UK for engineers
so simple and so true great vids !!
I know people who frequently go to the casino and/or play the lottery. And they usually say "you cant win if you dont play". Better them than me, but I feel the same way about retiring with multiple streams of income!
This is awesome!!! Go Dave!!
I love Daves rants , he,s spot on and a good bloke doing his best helping people to realize there potential to get somewhere in life and retire with a healthy safty net no matter what age you are you can still do something rather than sitting on your diddly squat.
Thank you, Dave.
You’re funny and for real Dave Ramsey! I enjoy listening to you.
Money magazine made me wealthy, getting me to save and invest.
I actually read a comment where a lady said "having a job is making someone else rich". Now that's about the all time stupidest thing I've heard. Choosing EBT over working.
She means having a job vs. owning a business, not being unemployed
@@weemeemoo Nope. She had already made it clear that people are "owed" a certain level of income. The remark was simply an ad on about how unfair it is to have to work. I worked for forty years and don't recall having made anyone rich.
Thank you Mr. Ramsey.
I love Dave!
You guys could include charts and excel spreadsheet snapshots throughout the videos. I know finance like Dave and visual charts and spreadsheets that help people visualize things like compound interest can help to see how powerful they are over long periods of time. Good stuff Dave! Consistency is key to achieve long term wealth. I'm shooting to become a millionaire by age 30. Got 5 years left and I own a business worth around 60k-70k so far. Going to start investing and selling real estate this next spring too.
Did you got your first million yet?
just curious how is your business doing?
Fiduciary responsibility is important!
Making sure your adviser is not being paid to sale your products that don't suit your needs.
On this day and age is going to be very unlikely to find an advisor that won´t want to sell you something because of the comissions they receive. Why would they get paid otherwise? So take ownership and do your research if a product is right for you.
One of my advisors is paid to sell me products (AND she is family, LOL! She´s my aunt, and because of bad advise she is having problems with her own children and son in law). I did my own research and created my own investment mix, though.
She is using my portafolio and advising her other customers to mimick it (those who can, it´s a pretty aggressive and risky mix and you need a heavy sum to start, it´s not for everyone).
She doesn´t know how I did my assumptions and run my numbers and created the mix. But I´m getting 16% to 18% returns a year, she was offering 8% to 12% a year, and I knew it was BS, the company´s standard mix is giving 6% to 8%, but they advertise 8% to 12%. I knew it was BS because I did my research!
If someone is interested, look into Allianz. I have a third on my money with them. Another third is in retirement accounts, I can´t access that money until I´m in my 60´s. And another third is on 2 companies, with a fixed rate of 6% and 8%.
I´ve been financially independent since I was 26 y/o. I´ve started saving since I was 17 and investing since I was 19 y/o, though. Around 40% to 70% savings rate..
Completely opposite of Dave advice and I agree with you
Amen, early and consistent savings. Put a few raises toward it to increase the initial amount. Put a percent of income. Forget about fees. Pay no mind to stock prices.
Our current SR: about 50%. Our bring home income:$52k/yr. Mortgage is $650/mo.
I would also think that age at which you start saving plays a huge part in it. I started when I was 25 and I will have at least 4-5 million when I retire. And thats on a pretty low income. But I see so many people who are 35 and still have nothing to show for it and have never even considered their retirement, let alone increasing their contributions to it.
What's low income for you?
Dave is right, learn how to save, 👌
I’m just now seeing this and all I have to say is that I love Dave’s sweatshirt!
This is great!
Omg.....I spit my coffee out. "Your parents are cousins".....I laughed so hard.
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Hi Dave. Please respond if possible...I have found that people have that negative attitude because they DO NO UNDERSTAND the basics of saving. If people do not know how to do something they will resist it out of fear of not knowing...it's a downward spiral until they learn how step-by-step..
Mario Navarro I had a subscription to MONEY magazine. They bashed Dave in a multi page article, then in the very next page, tried to tell people what credit cards were best for them. That killed their integrity with me.
Credit cards are actually a tool that responsible people can use to save 3-4% on their expenses and sometimes even more. Dave's retirement strategy is out of the 1980's. It simply doesn't work in a time where over 1/3 of working-aged Americans aren't a part of the labor force because of no/poor job prospects.
+Synapse2k I disagree. Any system can be loopholed and exceptions exist to every rule. That being stated, the nature of a credit card is to give a person access to things or experiences she cannot or is unwilling to pay for when the money is due. During the last 20 years, the credit industry has received a third of its revenue from fees, interest, and penalties charged for lines of credit. It is statically impossible for that high percentage to be coincidental. Using credit as a means to make or save money will put you one step closer to earning that Ph.D in DUMB.
I use credit cards for every purchase for convenience and to get the cashback bonus. I've never paid a penny in interest or fees.
yes! gotta save that money!
who wants to keep each other accountable on this goal
I love Dave so much
Dude, your studio is inhabited by ghosts walking around.
Retirement in early 50s....this is a very big red flag when you have saved enough $$
Dave's point is valid because as the decades pass you naturally increase how much you save regularly. So, the best way to approach this is to save regularly NOT A FIXED DOLLAR AMOUNT but rather a PERCENTAGE of your monthly pay. Save 15- or 20-percent of your monthly pay in a good growth mutual fund (or income fund) and you'll do just fine.
Yesss!!! Dave, it’s simple get out of debt and save money 💰 😎
,,It's scary how stupid people are'' 😂 love it, so true
I started maxing my retirement savings around 2005 when I only had $75K saved. Retired with $1.3 in those accounts.
Yea! Nothing in, nothing out. So true. I worked as a R&D Chemist but, was ( and knew) that I was not at all financially astute. Still my company offered a good 401K and every time I got a raise I put it in my 401k. Now had I been more astute, more aggressive , I would have probably done much better. Still, I did much better than I though I would do. Not rich but, my savings income is better than my SSA. You sound just like my Dad. I continually th and God for me having a father who tried to teach me about money and many other parts of life.
I LOVE THIS MAN!!!!!!!
When most people are going paycheck to paycheck it doesn’t really matter they have to work till they die
Most people in that position made are in that position because they made stupid career choices.
I think ramen is more cost effective than alpo. I would start there first.
haha. true.
and rice.. lots of rice. Mix it in the Alpo if needed.
Raman is good. Put an egg in there!
@@davidl248 yessss! Yum.
@blah blah Only use half the season packet to reduce the salt 👍
Yep I’ve run the numbers again and again. I can’t get where I want to be without putting a lot in. Especially early on.
Great point dave