I agree with your sentiment. The not taking v/c’s is not healthy in my mind but taking big lavish ones every year just because you have the money isn’t necessarily smart either. What if every other year you take a couple smaller cheaper ones and create more priceless family time and memories. This is a teachable moment for the kids as well.
It is best not to put off your fun until after retirement. Too many people wait until they are retired to travel or do what they dream of, only to find that they get sick or are too old to do what they wish they had done years before.
Yeah I never understood that. Many I’ve worked with I knew if they had just stopped trying to keep up with the Joneses and whatnot they wouldn’t be locked into debt trap working all the time. Also heard so many people say things like “I’m going to take my social security at 62 so I can enjoy my life”. Such a sad thing for me to hear I never say anything.
I can relate. I am 28 almost 29 with no debt and almost 70k in savings (not including retirement) but I still always feel/act like I’m broke. When you grow up in a household where your parents were always stressed about money that passes onto you. I’ve become almost obsessed with just saving my money at points where I forget to live.
Eh, you set yourself up in a great position for your thirties. To learn to be a bit more "loose" with spending on your enjoyment is probably a better situation than the reverse. You're doing great.
My parents saved and saved for retirement. By the time they retired and had all that money and free time, their health was no longer good enough to allow them to travel. I won’t make the same mistake with my kids. We go on at least one big vacation a year and one or two smaller trips.
Amen! This is exactly what most people fail to realize. Save money... But you should not be saving money for the sake of saving money. The money should enable you to live a good life, not to slave away throughout your life in order to sit on a heap of money when you are 65 and can no longer really enjoy that money.
I agree. I know about too many people who said they were waiting for retirement to travel and then they didn't even live that long. I take one big vacation every 12-18 months. I have a separate savings account for travel, and I don't book a trip until there is enough money to pay for it.
I used to think that also but a few years in nursing home can dwindle away at the nest egg. Some are 7,000 a month or more. My grandmother saved and she was almost out of money because of 3 or 4 years in one. Its crazy. You might live 7 years in the nursing home. She lived to be 92 years old. Really close to being broke.
@@extremecarpetcleaning-wvwi86 long term care insurance can be a great investment. Part of the reason having a paid off house is so important too. If you need to live in care you can sell your home to help finance it. Your investments also should be there to continue to generate income so you’re not just draining principal.
The real issue is that he has a scarcity mindset when he has every reason to use this money toward making memories with his family. We only have a few years until our children are no longer children. Obviously they are working hard and can afford to relax and spend a huge amount of money. There is no reason why they shouldn’t.
Here's the weird thing about frugal people, and I know this because I grew up poor too. There's a little bit of a high that happens when you save money, bought something used instead of brand new for a huge discount, or paid off a credit card that isn't due yet. It becomes a bit of a pathology and a way of life.
I really sympathize with this guy, I have a hard time breaking out of the scarcity mindset too, and once you learn how to save and invest, seeing the numbers go up is super addicting. But yeah, you gotta live a little every once in a while, if you're doing all the things you need to be doing there is no reason to keep punishing yourself. There's more to money than just hoarding it.
@@stevenporter863I know 8k sounds like a lot but it really isn’t with the income he has it’s under 4 percent of the household annual income. They have that much money coming in every two weeks.
Love this video. Shows the balanced perspective of the host. I have been George and missed the point of having money. Using the money and loving your family, not loving the money and using your family.
I don't understand how this is even a question. Was waiting to hear they have 5k in savings, and loan after loan. Reminds me of the friend in high school that says they did so bad on a Science test right after taking it, and the next day you see they got a 97...
@@blackworldtraveler3711 My guess is that it's a week at Disney World. Pretty easy to spend $7 for 4 people in a week, counting flights and a resort on property.
Don't wait to live. As someone who is 46 with terminal cancer, I'm glad that i didn't wait until retirement to travel. Of course be reasonable and plan for a long life, but if you can save for some priceless experiences then you really should.
You can travel for WAY CHEAPER THAN THAT! I go on vacation about 5 times per year (international destinations) and I probably spend $7000 in total for all of them throughout the entire year.
I can really sympathize with this guy, too. It's easy to live so frugally you don't really live. My great grandfather worked hard for 43 years for a railroad company until he retired on his 65th birthday, when he and my great grandmother had great plans to finally travel after his retirement. He died of a heart attack the next day.
I love his thought process on money, it’s obviously benefitted them up to now, but go and enjoy that vacation! Kids and family will cherish those trips and fun over a bigger home. I am so grateful for all the vacations my parents took me on as a kid. They can do both: save and have fun!
There's always "what if's"...He can afford it. He should save up the vacation money every year and just go and have a good time. The new house can wait.
He wants to build a future in a better state with his family. Smart guy that knows vacations in the Carribean are instant gratification with a $ and tequilla hangover.
I disagree, he doesn't have that much in savings. Yes he can afford it. I bet they can have a great vacation for half that amount. For me having a paid off house one is more important than a vacation you won't remember. I will remember my house when I look at it. I am not saying don't go on vacation, but do you really have to do it every year, probably not. Everything in moderation.
@@westbccoast A) One vacation a year is too many???? ... B) It's vice versa: A bigger house is just a thing, an object. You won't have a better life, the relationship with your family won't improve because you added square feet to your house. On the other hand, on vacation you are creating memories, you are spending quality time with your family, you get to do things with your loved ones that you otherwise don't have the time to do during the year when you have to work.
@@24wallachian A $7K vacation probably is. Everyone goes on about experiences and memories betc, but really can you really remember all your vacations. It's an individual choice, I get it. You can take smaller memorable vacations, it doesn't have to be expensive vacations. Do a big vacation every 2-3 years, do some smaller ones and as long as it is within your budget. And if you actually read what I wrote, having a balance is important, investing in your retirement is important. Living like there is no tomorrow is silly and ignorant. So glad I am no longer in this position, I get to decide how and when to spend my money with no pressure. They also probably don't need a bigger house, probably a want vs need.
I wouldn't do the 6-7k vacation every year. Maybe every 3- 4 years...........you might enjoy it even more! Goodwill and other 2nd hand stores all the way! This is where I find more quality items.......even clothes.
We were in the same position. We decided to do the vacations every third year. My wife could not take vacations in the summer, so Fall was the season, but we had school conflicts. Wife was thrilled with the compromise, however we ended up not taking the vacations every third year. More like every five years. Vacations are needed for your own sanity. He needs to relax and enjoy life. You never know when your last vacation is happening.
I don't feel like he qualifies for well off. He might feel that way because of his child hood, but in the grand scheme he doesn't have big money. Still he can afford the 5k vacation.
Exactly, I’m surprised that they’re not consistent in wha the say to others about being debt free. They didn’t say pay off the house, they did advise him to invest more. Basically the said yep spend your money on a vacation.
I know where he's coming from. I fight that problem myself. Saving can get to be a goal in and of itself. You've got to plan for the future but balance that with living in the present. I'd feel a right chump if I sacrificed everything for someday then died a week into retirement.
Nah I am with him, he doesn't have a lot in his savings. Everything in moderation, go every couple of years, doesn't have to be every year. Everything needs to be balanced.
Dude and his wife make over 200 a year and have about 400k in savings if I remember correctly, He’ll be more than okay spending not even 10k on a vacation.
Can't imagine that kind of income and worrying about it. I'm on disability and my wife works part-time and make 40,000 a year have nothing in retirement. Not a bit worried.😊
Not sure why people who plan to do things like vacations or other big purchases are not putting the money in their budget every month in the form of a sinking fund for the specific goal. For example I have like 5 sinking funds that I put in money every month and one is for vacation. If you put every month 500$ at the end of the year you have the 6k to go on your vacation in the next year and so on, this way of doing things has worked for me for years and the pressure is way lower if you put money aside every month rather than trying to come up with the entire amount in 3 months.
When the kids get in their teens they usually no longer want a big family vacation--do things with your kids when you can make great lifetime memories for everyone.
When I hear happy wife happy life I hear the wife is a grade A b..... It is amazing how we have become acculturated to feel happy when we take expensive vacations. In reality, happiness has little to do with expensive vacations, or expensive anything.
From Hartford you can enjoy a beautiful week vacation in so many places in New England and Quebec. Can't believe people blow that much money in Cancun and Punta Cana which is nuts.
I agree New England is the most beautiful area of the country imo and I usually take my summer vacation in that area, so many great places like Salem MA, Newport ri Portland Maine. BUT it’s WINTER my guy 😅
@@AmericanWears Dumb time to go during peak season if that is why it's 8K. He had legit questions and they laughed it off. Being a contrarion can save a ton of $ and be just just as fun. The Carribean is nice year round.
At 79, I still haven’t used my retirement funds except for the required withdrawal, which I reinvest. My mistake was to travel after retirement. Husband treated for cancer once, with ongoing issues from treatment. I’ve had cancer surgery twice and need both knees replaced. Travel while you are young!
I understand George because you have to prepare now before there is a problem not like Rachel saying" oh well when there is a problem then you would would make a shift." THAT IS TOO LATE..What if he fears a layoff?..expenses around moving to a different state increasing over today's quotes etc
I don't think he's out of line. He doesn't state his age, but he has kids, sounds a little older, maybe late 30's, early 40's. They have other financial goals like buying a bigger house in a better state, "only" $300k in retirement in a HCOL area, no debt. $5-7k on a vacation isn't bad every year, but it's $5k, next she wants an upgraded car, upgraded house, etc. Lifestyle creep. Sure, they can financially do it and still save for other goals, but they both have to be careful things don't get away from them.
Once you're locked into a saving mentality and routine, it's hard to deviate from those habits. So I can understand his hesitation. BUT, it's also very important to enjoy life along the way. So 90% delayed gratification is more sustainable than 100% delayed gratification.
One of the best things my parents did for us growing up was not doing these kind of things. No annual vacation, no big holiday parties, no big birthdays or family reunions. This has me not really care about any of those things now as an adult.
Strange they didn’t say pay off the house. I realize he said he wants a bigger house but if you the own the house out right the profit could be used as huge down payment for the new house.
His household income is great, but the retirement is relatively underfunded. If any debt skip the unnecessary vacation, which is a want. Bigger house? Sounds like a classic case of lifestyle creep. I can't understand how people's priorities and wants vs needs are so out of wack.
He’s obviously not near retirement, since he’s still saving for kids education. He does have money for retirement and time to save more. CT is an “expensive” state. They plan to move to another state, which may be cheaper (else why move there) and the bigger house may not cost more.
Make a budget item for vacation savings, and deposit it into a separate account. It's not that hard. Also, I took 7 people on a 5 night cruise. Including flights and a hotel in the port city the night before, food, excursions, etc. All in was under $5900.
Some of y'all have crazy standards. They are well off by almost every measure compared to the average person in America. Most people can't actually afford to save 6-7k in 3 months just to go on vacation. Hell, I'm like this guy and never actually been on a real vacation until I was grown man and could pay for it myself.
@@robloxvids2233 Tight = "can't spend like they have infinite money." Yeah that's most people who aren't Jeff Bezos. Gotta have a little perspective here.
LOL he wanted them to give the advice they usually do, which is that he shouldn't spend the money on the vacation. Except, he's in a good place financially and doesn't have any debt aside from the mortgage, so they're like "go ahead!"
George is Chinese (I can hear his accent - I am Chinese too) and he seems to be super conservative with money (just putting spare money in cash and CDs, staying frugal, not getting into debt and not spending for fun). I used to be like him too. It would be really helpful for him to get past Dave Ramsey (get out of debt) and learn how to invest more wisely and use the money for fun. Since there's already Cancun last year, I think he will get used to go on a vacation once in a while and he will do fine.
People always want bigger and bigger and bigger never ending, I bet your house is just fine. Take them on vacations because you only have this one life make those memories that is better then any amount of money.
My in-laws, whom I loved and respected very deeply, lived an impoverished way of life. They had a paid-off house plus $600,000 in the bank, and they were receiving military retirement pay and veterans' benefits. Neither they nor anyone else benefited from the giant nest egg that they accumulated.
Let me turn this another way. A family member became disabled at a young age, severely restricting what we can do in terms of vacations, etc. There is not one vacation or opportunity I was able to financially provide for us in the past that I regret. And yes, I was frugal in most things; I have good retirement savings, etc. but looking back, she'll never wonder whether I should have put another $5K in savings. She will remember that once upon a time, we climbed a volcano. That has become a family mantra when things get tough because it wasn't easy, but by helping each other, we accomplished it. She'll remember the cruise, etc.
Think of vacations as an investment into your family. The memories and happiness you create are priceless. Let go and live your lives (within budget). Don't know what tomorrow may bring. I like to think of vacations as a family business item. This is where you can let go of responsibilities, do some incredible team building exercises, and dream/strategies for the upcoming year all while having fun.
I’ve taken my family of 4 to Disney World for a week the last 3 years. Costs between $7k-$9k each time. Things are well in the home, work and save and enjoy life. If you got it you should enjoy yourself some.
The whole family can have much more fun, less tension, spend less money, by traveling and actually seeing this beautiful country. Disney is fake, fake, fake.
I understand the whole saving for retirement 100%..but to make that your main priority and put aside making memories with your wife and kids with vacations and whatnot… May I remind everyone that tomorrow is not promised, which also means retirement may not be promised either. Wake up every day and live it like it’s your last because it just might be your last one day.🥺💗
I already get exhausted travelling at 45. I plan to go everywhere I wanna go by the time I'm 60, and spend my retirement staying put. I ain't hefting my carryon into an overhead bin when I'm old, no thank you.
I feel like if it takes 1/4 of the year to save for a relatively short vacation, it's not worth it. I dont know what's normal, though, because I've never had enough to take a real vacation.
Caller should open a brokerage account. Any cash not in securities are in money market type account, not insured, it is a blend of short term notes. Vanguard is currently yielding 5.3%. So like a bank cd except to term requirements
I am George. Not literally, but I act like this man. It's so hard after you've been frugal so long to spend some of your money. My wife keeps me level and we go on vacations, but just not the super big disney ones or anything like that. But we're going to save up this year to try to do a bigger one (we live in Houston, so maybe go see some snow during the winter...either that or a cruise...couldn't be more opposite...but that's our goals). My family never went on vacation either. We did one day in Disney because we went to see our grandma. Then I was able to do a few trips in high school through band and other things, that I helped to pay for (fundraising, work, etc.). Other than that, we never left the state. Shoot, austin was the farthest we went from Houston. Maybe San Antonio once. So I definitely want my kids to see a little more than I did.
The real answer to this guy's question isn't let 2 strangers on a radio show arbitrate. It's to sit with Mary and discuss your fears (if the caller was a woman they would have said this). But I am in similar situation to caller. We make 202k in a LCOL area. We're on BS6 and only owe 11k on home. We spend about 10k per year on vacations. Annual leave is hard to get so when I take it I want to make the most of it. You can't buy back time or memories with family. Of course, we are satisfied with our modest 1,800sf home and aren't "wanting to buy a bigger home." That's the real issue.
You’re young You can afford it You will NEVER regret travel Do one a year and it’s amazing how much of the world you can see. Also it is important to pick a partner that you can travel with and eat with.
He is not doing everything completely right. He lives his life to save money, instead of saving money to live a good life. He doesn't want to go on vacation to save more money, so that when he is old, he has tons of money that he mostly can no longer enjoy. You are supposed to live now that you are young and have enough energy.
@@24wallachian If you grew up on poverty, that survival mindset would be stuck with you for life. Lots of people have never left their towns their whole lives.
I call vacations FBE's. Family Building Events. Kids don't stay little forever. Enjoy them while they still think you're cool. Live life without creating regrets. I wish I had not spent that time with my family, said nobody ever.
I can relate with the guy. he wants to save the extra 6-7 grand every year and get into a bigger house sooner which is an appreciating asset compared to a vacation with depreciates 100% :D
I agree he’s taking it a little too far BUT so many people are wildly spending out of control so I’m proud of him and know he has the best intentions.
This is one of the most niggardly calls I've heard
I agree with your sentiment. The not taking v/c’s is not healthy in my mind but taking big lavish ones every year just because you have the money isn’t necessarily smart either. What if every other year you take a couple smaller cheaper ones and create more priceless family time and memories. This is a teachable moment for the kids as well.
It is the moments that make a difference ..doesn't have to big ! @middleagedcrazy5297
What $7,000k ?...Nothing less available?
Love Ken wagging his head
It is best not to put off your fun until after retirement. Too many people wait until they are retired to travel or do what they dream of, only to find that they get sick or are too old to do what they wish they had done years before.
Yeah I never understood that.
Many I’ve worked with I knew if they had just stopped trying to keep up with the Joneses and whatnot they wouldn’t be locked into debt trap working all the time.
Also heard so many people say things like “I’m going to take my social security at 62 so I can enjoy my life”. Such a sad thing for me to hear I never say anything.
I can relate. I am 28 almost 29 with no debt and almost 70k in savings (not including retirement) but I still always feel/act like I’m broke. When you grow up in a household where your parents were always stressed about money that passes onto you. I’ve become almost obsessed with just saving my money at points where I forget to live.
I think 20% of income is fine to spend on personal fun once you’re out of junk debt and in a home you’d like to be in for 10+ years.
Eh, you set yourself up in a great position for your thirties. To learn to be a bit more "loose" with spending on your enjoyment is probably a better situation than the reverse. You're doing great.
My parents saved and saved for retirement. By the time they retired and had all that money and free time, their health was no longer good enough to allow them to travel. I won’t make the same mistake with my kids. We go on at least one big vacation a year and one or two smaller trips.
Amen! This is exactly what most people fail to realize. Save money... But you should not be saving money for the sake of saving money. The money should enable you to live a good life, not to slave away throughout your life in order to sit on a heap of money when you are 65 and can no longer really enjoy that money.
I agree. I know about too many people who said they were waiting for retirement to travel and then they didn't even live that long. I take one big vacation every 12-18 months. I have a separate savings account for travel, and I don't book a trip until there is enough money to pay for it.
I used to think that also but a few years in nursing home can dwindle away at the nest egg. Some are 7,000 a month or more. My grandmother saved and she was almost out of money because of 3 or 4 years in one. Its crazy. You might live 7 years in the nursing home. She lived to be 92 years old. Really close to being broke.
My wife and I are trying to travel a lot while we have the health and income in our 50s. Helps we paid off the house a few years ago.
@@extremecarpetcleaning-wvwi86 long term care insurance can be a great investment. Part of the reason having a paid off house is so important too. If you need to live in care you can sell your home to help finance it. Your investments also should be there to continue to generate income so you’re not just draining principal.
Can they not compromise and do a $3,000-$4,000 vacation?
Yes or do a good vacation one year and a cheaper vacation the next year .
You must be a smart and sensible person.
@@beckyshell4649that sounds like a very niggardly idea
That's not the point. Just like they can afford 3-4K on a vacation. They can spend 5-7K. It's the same money. They can afford it and save easily
The real issue is that he has a scarcity mindset when he has every reason to use this money toward making memories with his family. We only have a few years until our children are no longer children. Obviously they are working hard and can afford to relax and spend a huge amount of money. There is no reason why they shouldn’t.
Here's the weird thing about frugal people, and I know this because I grew up poor too. There's a little bit of a high that happens when you save money, bought something used instead of brand new for a huge discount, or paid off a credit card that isn't due yet. It becomes a bit of a pathology and a way of life.
Dude is gonna end up going on 6 vacations his whole life at this rate lol
Loved this one - Rachels reaction from "happy wife happy life", the "gotcha" and the other guys little happy dance lol
I really sympathize with this guy, I have a hard time breaking out of the scarcity mindset too, and once you learn how to save and invest, seeing the numbers go up is super addicting. But yeah, you gotta live a little every once in a while, if you're doing all the things you need to be doing there is no reason to keep punishing yourself. There's more to money than just hoarding it.
I like this caller. Very sensible and relatable. For most of the callers on this show, I'm like "What the hell are you thinking?"
I think I have a similar problem, you get obsessed with not living and just looking at the money grow. The reward is more money
He definitely needed to hear that message. The money spent on vacation is worth it for the relaxation and time with the family.
At 8K a pop? It's a smart question on his end.
But at $8k each?!
LOL 😂, having a roof over your head is more important.
@@stevenporter863I know 8k sounds like a lot but it really isn’t with the income he has it’s under 4 percent of the household annual income. They have that much money coming in every two weeks.
@@musicman7297the issue is they already have a roof over their head they are just wanting to upgrade.
Frugality is a virtue. Cheapness is pushing what you should pay onto others.
I feel what George is saying. There’s nothing wrong with being frugal
Love this video. Shows the balanced perspective of the host. I have been George and missed the point of having money. Using the money and loving your family, not loving the money and using your family.
I don't understand how this is even a question. Was waiting to hear they have 5k in savings, and loan after loan. Reminds me of the friend in high school that says they did so bad on a Science test right after taking it, and the next day you see they got a 97...
Because dropping 8k in a week doesn't feel so great.
@@JustinCase780It would feel fine to me if I made as much as he did.
Omg it ALL makes sense at 7:00.
@@JustinCase780 ...only if you measure your life in money and not in experiences.
@@24wallachianthis guy has been measuring his achievements with the dollar sign for years
7k vacation is pretty luxurious
But they make 210k they are fine
Dont be too cheap, enjoy the money
Apparently they want two week luxury vacation to spend that much.
I’m currently staying on Kauai for almost three months for that amount.
@@blackworldtraveler3711 My guess is that it's a week at Disney World. Pretty easy to spend $7 for 4 people in a week, counting flights and a resort on property.
Don't wait to live. As someone who is 46 with terminal cancer, I'm glad that i didn't wait until retirement to travel. Of course be reasonable and plan for a long life, but if you can save for some priceless experiences then you really should.
You can travel for WAY CHEAPER THAN THAT! I go on vacation about 5 times per year (international destinations) and I probably spend $7000 in total for all of them throughout the entire year.
Even cheaper. I have flown free most of my life.
People thought I was nuts leaving NASA and Lockheed for American Airlines but it was part of my plan.
Single person vs family with kids . Big difference in expenses.
I can really sympathize with this guy, too. It's easy to live so frugally you don't really live.
My great grandfather worked hard for 43 years for a railroad company until he retired on his 65th birthday, when he and my great grandmother had great plans to finally travel after his retirement. He died of a heart attack the next day.
😮
😢😢
He should have called when Dave was on.
I love his thought process on money, it’s obviously benefitted them up to now, but go and enjoy that vacation! Kids and family will cherish those trips and fun over a bigger home. I am so grateful for all the vacations my parents took me on as a kid. They can do both: save and have fun!
There's always "what if's"...He can afford it. He should save up the vacation money every year and just go and have a good time. The new house can wait.
He wants to build a future in a better state with his family. Smart guy that knows vacations in the Carribean are instant gratification with a $ and tequilla hangover.
I disagree, he doesn't have that much in savings. Yes he can afford it. I bet they can have a great vacation for half that amount. For me having a paid off house one is more important than a vacation you won't remember. I will remember my house when I look at it. I am not saying don't go on vacation, but do you really have to do it every year, probably not. Everything in moderation.
@@westbccoastPeople today are irresponsible and just want gratification...instant.
@@westbccoast A) One vacation a year is too many???? ... B) It's vice versa: A bigger house is just a thing, an object. You won't have a better life, the relationship with your family won't improve because you added square feet to your house. On the other hand, on vacation you are creating memories, you are spending quality time with your family, you get to do things with your loved ones that you otherwise don't have the time to do during the year when you have to work.
@@24wallachian A $7K vacation probably is. Everyone goes on about experiences and memories betc, but really can you really remember all your vacations. It's an individual choice, I get it. You can take smaller memorable vacations, it doesn't have to be expensive vacations. Do a big vacation every 2-3 years, do some smaller ones and as long as it is within your budget. And if you actually read what I wrote, having a balance is important, investing in your retirement is important. Living like there is no tomorrow is silly and ignorant. So glad I am no longer in this position, I get to decide how and when to spend my money with no pressure. They also probably don't need a bigger house, probably a want vs need.
Thank God for this show ❤
I totally get how the guy feels. But he deserves some fun after all that hard work and discipline
I wouldn't do the 6-7k vacation every year. Maybe every 3- 4 years...........you might enjoy it even more! Goodwill and other 2nd hand stores all the way! This is where I find more quality items.......even clothes.
We were in the same position. We decided to do the vacations every third year. My wife could not take vacations in the summer, so Fall was the season, but we had school conflicts. Wife was thrilled with the compromise, however we ended up not taking the vacations every third year. More like every five years.
Vacations are needed for your own sanity. He needs to relax and enjoy life. You never know when your last vacation is happening.
When the recession hits and you are still comfortable. You will not be asking if you are too stingy.
I don't feel like he qualifies for well off. He might feel that way because of his child hood, but in the grand scheme he doesn't have big money. Still he can afford the 5k vacation.
Exactly,
I’m surprised that they’re not consistent in wha the say to others about being debt free. They didn’t say pay off the house, they did advise him to invest more. Basically the said yep spend your money on a vacation.
@@commader620This is exactly what they say to others. At this stage you're SUPPOSED to spend some money on vacations. Upgrading cars etc.
@@ClaxtonBay123and every time they say it they’re WRONG.
I actually hate calls like this, like I like listening to people with real problems.
You’re doing good, take and enjoy the vacation.
Spend some money on experiences!! We use to take 1 vacation a year. Now we take 6 to 7 a year. It's fantastic
I know where he's coming from. I fight that problem myself. Saving can get to be a goal in and of itself. You've got to plan for the future but balance that with living in the present. I'd feel a right chump if I sacrificed everything for someday then died a week into retirement.
I hate the saying "happy wife, happy life." Marriage is a partnership. Happy spouse, happy house.
Happy King, happy kingdom
Facts
I’d say NO wife= happier life !
If you marry, remember that a spouse should be a partner, not a parasite.
I agree. I love being married but I think that's due large in part to my wife and I having a value accretive merger lol
I have this problem too. I am very frugal. I like to save for big things, and save for no reason.
Nah I am with him, he doesn't have a lot in his savings. Everything in moderation, go every couple of years, doesn't have to be every year. Everything needs to be balanced.
Dude and his wife make over 200 a year and have about 400k in savings if I remember correctly, He’ll be more than okay spending not even 10k on a vacation.
They have no debt and make A TON of money. They can 100% afford this trip every year. He's being cheap.
People not answering a direct question drives me up the wall. And i'm hooked on Ramsey's channel so i'm losing my mind 😂
7k for a mexico vacation. Thats a rip-off way cheaper options and all-inclusive deals all around. Especially for Mexico.
George ....have fun....enjoy
Can't imagine that kind of income and worrying about it. I'm on disability and my wife works part-time and make 40,000 a year have nothing in retirement. Not a bit worried.😊
You feel comfortable with that?
You need to be. Ive been freaking out. I'm 48 and have 100,000 in retirement and I'm not even close to what I actually need.
We live very simple. Our God supplies all my needs according to His riches in glory
@@kennethfee7582 I live pretty simple also but with the economy going to crap its definitely getting tougher.
@@KS_1995damn you people are damn judgmental
Not sure why people who plan to do things like vacations or other big purchases are not putting the money in their budget every month in the form of a sinking fund for the specific goal. For example I have like 5 sinking funds that I put in money every month and one is for vacation. If you put every month 500$ at the end of the year you have the 6k to go on your vacation in the next year and so on, this way of doing things has worked for me for years and the pressure is way lower if you put money aside every month rather than trying to come up with the entire amount in 3 months.
When the kids get in their teens they usually no longer want a big family vacation--do things with your kids when you can make great lifetime memories for everyone.
When I hear happy wife happy life I hear the wife is a grade A b.....
It is amazing how we have become acculturated to feel happy when we take expensive vacations.
In reality, happiness has little to do with expensive vacations, or expensive anything.
From Hartford you can enjoy a beautiful week vacation in so many places in New England and Quebec. Can't believe people blow that much money in Cancun and Punta Cana which is nuts.
I agree New England is the most beautiful area of the country imo and I usually take my summer vacation in that area, so many great places like Salem MA, Newport ri Portland Maine. BUT it’s WINTER my guy 😅
@@AmericanWears Dumb time to go during peak season if that is why it's 8K. He had legit questions and they laughed it off. Being a contrarion can save a ton of $ and be just just as fun. The Carribean is nice year round.
At 79, I still haven’t used my retirement funds except for the required withdrawal, which I reinvest. My mistake was to travel after retirement. Husband treated for cancer once, with ongoing issues from treatment. I’ve had cancer surgery twice and need both knees replaced. Travel while you are young!
I like this guy!! Hope you and Mary have a great vacation George!!! Enjoy yourselves! :)
I understand George because you have to prepare now before there is a problem not like Rachel saying" oh well when there is a problem then you would would make a shift." THAT IS TOO LATE..What if he fears a layoff?..expenses around moving to a different state increasing over today's quotes etc
Keep working and saving. No to pricey vacays
Back in reality... I'm trying to figure out how to afford my groceries and gas while paying rent😂
The caller must live on another planet, not the kind of problem normal people are having right now.
@@johnathin0061892He's just as normal as everyone else. He's just made better decisions.
I don't think he's out of line. He doesn't state his age, but he has kids, sounds a little older, maybe late 30's, early 40's. They have other financial goals like buying a bigger house in a better state, "only" $300k in retirement in a HCOL area, no debt. $5-7k on a vacation isn't bad every year, but it's $5k, next she wants an upgraded car, upgraded house, etc. Lifestyle creep. Sure, they can financially do it and still save for other goals, but they both have to be careful things don't get away from them.
Great job on setting this guy on the right path. LOL!
One of the funniest calls ever, you're going on the vacation Goorge!!!
Five bucks says he didn’t and got divorced because of it 😂
Once you're locked into a saving mentality and routine, it's hard to deviate from those habits. So I can understand his hesitation. BUT, it's also very important to enjoy life along the way. So 90% delayed gratification is more sustainable than 100% delayed gratification.
One of the best things my parents did for us growing up was not doing these kind of things. No annual vacation, no big holiday parties, no big birthdays or family reunions. This has me not really care about any of those things now as an adult.
On the flip side, there’s also a lot of kids who grow up bitter because their parents never did any of those things
🙌
@heff434 that’s not where the parents failed. They failed because they didn’t instill gratitude as a character trait
Strange they didn’t say pay off the house. I realize he said he wants a bigger house but if you the own the house out right the profit could be used as huge down payment for the new house.
Ive been there its a problem with people that save
His household income is great, but the retirement is relatively underfunded. If any debt skip the unnecessary vacation, which is a want. Bigger house? Sounds like a classic case of lifestyle creep. I can't understand how people's priorities and wants vs needs are so out of wack.
He’s obviously not near retirement, since he’s still saving for kids education. He does have money for retirement and time to save more. CT is an “expensive” state. They plan to move to another state, which may be cheaper (else why move there) and the bigger house may not cost more.
$6,000-$7,000 is A LOT for a vacation.
10 days in Hawaii. Used to be 8-9 days for $3,500 to $4,000.
@@marilynsue4273 lol, why would anyone visit hawaii? There's way better places than that.
From here, already close to 2000 euros each...
Make a budget item for vacation savings, and deposit it into a separate account. It's not that hard. Also, I took 7 people on a 5 night cruise. Including flights and a hotel in the port city the night before, food, excursions, etc. All in was under $5900.
they kept saying 6 to 7 thousand... i kept hearing 67 thousand 😂😂
I mean... Why not take a trip? Upgrading the house isn't that big of a priority (then again, "happy wife, happy life?"; that phrase is a sickness)
What they tried to say is that the divorce will cost more.
This doesn’t sound like “well off”
Maybe comfortable with the combined income and can afford a vacation here and there while saving along.
Some of y'all have crazy standards. They are well off by almost every measure compared to the average person in America. Most people can't actually afford to save 6-7k in 3 months just to go on vacation. Hell, I'm like this guy and never actually been on a real vacation until I was grown man and could pay for it myself.
@@JarlusThey're 100k in debt and live in Connecticut, one of the most expensive states. They are much tighter than you think.
@@robloxvids2233 Tight = "can't spend like they have infinite money." Yeah that's most people who aren't Jeff Bezos. Gotta have a little perspective here.
Vacation every year sounds like a waste of money to me, and a new bigger home is a want not a need.
Reaction at 4:38 laugh out loud!
LOL he wanted them to give the advice they usually do, which is that he shouldn't spend the money on the vacation. Except, he's in a good place financially and doesn't have any debt aside from the mortgage, so they're like "go ahead!"
Fantastic segment guys
George is Chinese (I can hear his accent - I am Chinese too) and he seems to be super conservative with money (just putting spare money in cash and CDs, staying frugal, not getting into debt and not spending for fun). I used to be like him too. It would be really helpful for him to get past Dave Ramsey (get out of debt) and learn how to invest more wisely and use the money for fun. Since there's already Cancun last year, I think he will get used to go on a vacation once in a while and he will do fine.
Take the vacations. Before you know it you'll be old and gray and those memories matter
People always want bigger and bigger and bigger never ending, I bet your house is just fine. Take them on vacations because you only have this one life make those memories that is better then any amount of money.
My in-laws, whom I loved and respected very deeply, lived an impoverished way of life. They had a paid-off house plus $600,000 in the bank, and they were receiving military retirement pay and veterans' benefits. Neither they nor anyone else benefited from the giant nest egg that they accumulated.
Let me turn this another way. A family member became disabled at a young age, severely restricting what we can do in terms of vacations, etc. There is not one vacation or opportunity I was able to financially provide for us in the past that I regret. And yes, I was frugal in most things; I have good retirement savings, etc. but looking back, she'll never wonder whether I should have put another $5K in savings. She will remember that once upon a time, we climbed a volcano. That has become a family mantra when things get tough because it wasn't easy, but by helping each other, we accomplished it. She'll remember the cruise, etc.
Think of vacations as an investment into your family. The memories and happiness you create are priceless. Let go and live your lives (within budget). Don't know what tomorrow may bring. I like to think of vacations as a family business item. This is where you can let go of responsibilities, do some incredible team building exercises, and dream/strategies for the upcoming year all while having fun.
Wife is going to end up getting them in alot more debt...a new bigger home in CT is going to likely be $600k+ wants $7k trips. Yikes.
Pay off your house in the morning, and save for a different house, interest free...
I’ve taken my family of 4 to Disney World for a week the last 3 years. Costs between $7k-$9k each time. Things are well in the home, work and save and enjoy life. If you got it you should enjoy yourself some.
The whole family can have much more fun, less tension, spend less money, by traveling and actually seeing this beautiful country. Disney is fake, fake, fake.
I understand the whole saving for retirement 100%..but to make that your main priority and put aside making memories with your wife and kids with vacations and whatnot…
May I remind everyone that tomorrow is not promised, which also means retirement may not be promised either. Wake up every day and live it like it’s your last because it just might be your last one day.🥺💗
I already get exhausted travelling at 45. I plan to go everywhere I wanna go by the time I'm 60, and spend my retirement staying put. I ain't hefting my carryon into an overhead bin when I'm old, no thank you.
I feel like if it takes 1/4 of the year to save for a relatively short vacation, it's not worth it. I dont know what's normal, though, because I've never had enough to take a real vacation.
Not sure if I like how the caller keeps saying, “I make…” and “I have x in debt”. It should be “we”.
Bro, with that income and those savings and he doesn't want to live a little and make memories! Do it, enjoy it!
Caller should open a brokerage account. Any cash not in securities are in money market type account, not insured, it is a blend of short term notes. Vanguard is currently yielding 5.3%. So like a bank cd except to term requirements
I am George. Not literally, but I act like this man. It's so hard after you've been frugal so long to spend some of your money. My wife keeps me level and we go on vacations, but just not the super big disney ones or anything like that. But we're going to save up this year to try to do a bigger one (we live in Houston, so maybe go see some snow during the winter...either that or a cruise...couldn't be more opposite...but that's our goals).
My family never went on vacation either. We did one day in Disney because we went to see our grandma. Then I was able to do a few trips in high school through band and other things, that I helped to pay for (fundraising, work, etc.). Other than that, we never left the state. Shoot, austin was the farthest we went from Houston. Maybe San Antonio once. So I definitely want my kids to see a little more than I did.
How old are they? That's critical. If he's 25 he's doing great. If he's 55 he's behind.
Why call in
Wow! Mary is one lucky wife! 😂 and George maybe do a every other year vacation 😉
My parents make $50k combine, have a paid off house and $250k saving and consider themselves “poor.” This guy is not “well off.”
The real answer to this guy's question isn't let 2 strangers on a radio show arbitrate. It's to sit with Mary and discuss your fears (if the caller was a woman they would have said this). But I am in similar situation to caller. We make 202k in a LCOL area. We're on BS6 and only owe 11k on home. We spend about 10k per year on vacations. Annual leave is hard to get so when I take it I want to make the most of it. You can't buy back time or memories with family. Of course, we are satisfied with our modest 1,800sf home and aren't "wanting to buy a bigger home." That's the real issue.
$2500-$3500 Vacation and keep it pushing. Imo 6-7k vacay is wild for making $210k a year. 🤷🏾♂️
There she is, my favorite nepobaby.
Ken is so of touch with the job world. No wonder his show has limited subscribers. 😂
Man, I wish I had these problems...😅
I don’t like to travel. I’d say take a lower cost vacation and boost savings. A vacation that costs half as much may actually be far more enjoyable.
Where is Dave at⁉️🤣😆
Well off generally means millions
Merry Christmas Ramsy Gang!
Mary! You just won a trip to Disney World!!!
You’re young
You can afford it
You will NEVER regret travel
Do one a year and it’s amazing how much of the world you can see.
Also it is important to pick a partner that you can travel with and eat with.
This is the first time I've seen a caller do it completely right and the hosts tell the caller to spend money on vacation.
He is not doing everything completely right. He lives his life to save money, instead of saving money to live a good life. He doesn't want to go on vacation to save more money, so that when he is old, he has tons of money that he mostly can no longer enjoy. You are supposed to live now that you are young and have enough energy.
@@24wallachian He mentions he grew up really poor. Maybe for him, buying clothes from Goodwill is a great life for him.
@@sarsattacks I'm not talking about clothes but about vacation.
@@24wallachian If you grew up on poverty, that survival mindset would be stuck with you for life. Lots of people have never left their towns their whole lives.
I call vacations FBE's. Family Building Events. Kids don't stay little forever. Enjoy them while they still think you're cool. Live life without creating regrets. I wish I had not spent that time with my family, said nobody ever.
I can relate with the guy. he wants to save the extra 6-7 grand every year and get into a bigger house sooner which is an appreciating asset compared to a vacation with depreciates 100% :D