I honestly don’t feel bad for him at all. When you’re 71 and had an entire lifetime to work at this, and 200k in debt and zero money is what you have to show for it, with 90k coming in, i just don’t feel bad for him. Especially the fact that he blames his daughter and wife for a lot of problem. It’s like YOU married her, and YOU raised your daughter. Dude needs a big ass mirror lol
Ken, you are absolutely priceless! “Rollin, rollin, rollin…”😂 I have many years on Ken but he could honestly be my Dad with some of the stuff he comes out with. Extremely funny. He’s the only one of the lot who can get away with saying the quiet parts out loud, like the comment about getting inside Delony’s head. Nothing ever said in malice, though! So good.
Top two hosts of the show when Uncle Dave isn’t around….Dr John is awesome as well. Appreciate the content you guys continually generate for the people. Cheers!
$70k in credit card debt. Retired early. Blames his daughter for loans he took out and is now bitter toward her for it. Doesn’t exactly scream “poor Bill”
@@arianavidal even if that is true (he didn’t have to sign the papers) what about the $70k in credit cards and the choice to retire knowing he has $170k+ in consumer debt?
1:10 how much should we save for our baby's college? 11:07 should I sell or keep my condo, because of increasing HOA fees? 21:10 plugging a live event (slightly urgent sales tactics) 24:15 letter: I have extreme money anxiety despite not being broke for years 28:09 how do I save for a house? 33:39 what do I do with my sign-on bonus? 43:50 we're moving. Should we sell or rent our house? 48:42 should I get rid of the car that I'm upside down on? (The usual, take out a loan to cover the negative equity and sell the car) 54:00 discussion: how to rollover a 401(k) 1:00:00 should I buy a new (to me) truck? (Yes, you have no debt other than mortgage and you're paying in cash, and our guideline is that the value of all motorized and wheeled things is no more than half of your income) 1:03:48 (extremely rambly story) I'm retired, age 71, and wife willl soon retire, age 66. We' can't afford our current bills. Our daughter refuses to pay for her Parent Plus loan w e ook out for her. should I find a job with a 401(k) match if I have to start withdrawing from it at a certain age? (you need to start with the baby steps, don't even do any investing. and get your daughter to pay her own loan) 1:14:08 I'm 18 and am working on a business degree while I run my own business. What do I do? (you gotta pick whether you want to go whole hog on school or business, or go hard on both) 1:24:38 I just learned that I have $31,000 in student loans I didn't know about. should I consolidate? (no, do the baby steps)
In regards to the HOA, why aren’t they suing the property management company? Condo owners pay huge monthly fees…what’s happening to the money???? Not going to where it is supposed to…
Yea i have a rule that i dont buy Condos. You dont even have control over your own house or money. At the whims of someone else. The dreaded HOA people! Lol
They should hire a lawyer and potentially involve the police too. If the 3M cost that would cost each owner 30k, that means the HOA takes care of 100 units. There shouldn't be a lack of money with 500$ fees per month... That's freaking 600k per years in fees... The numbers don't add up
I don't know if I would take the house. If the church fires you, it closes down, etc. You don't have a free house anymore. I would not want to be completely dependent on my employer for my housing, too much can go wrong.
I need to get back on track. Have had a lot of home maintenance expenses the past six weeks and have had limited access to cooking facilities, hance eating out and convenience foods. Seems I can't be bothered to cook now, still have so much to do in the house.
Sounds like a lot of self doing though… it astonishes me how you can be that age and let it get that far.. with only 1 kids no less. Seems like a man that never took care of things in his home and just swept it under the rug. Just his language towards his wife was quite something else.
Yikes, poor Bill, I have no debt and I get stressed thinking I might have to work a little past 52, I can’t imagine being 72 and in that much debt and being forced back to work to survive. That’s literally a “die working on the Walmart floor when you’re 80” situation.
If you want to be a veterinarian and don't want to go into debt, consider the military or getting a deal with someone like Purdue chickens thay may pay for your school if you work for them for a few years
I'm wondering if Bill and his wife in Connecticut are going to have to go to marriage counselling and sell their home to clear out their mountain of debt? 🤔💭 Do they have a truck that can pull a small second hand trailer to live in? A minivan to live in? There are some videos on line that help coach people how to live cheaply in a vehicle. This is a sad situation.
One of the things that people don't consider often enough when buying a condo is the HOA fees. My Mom pays only $40 a month, but neighbors in the next condo over pay $269. Make sure if you are paying high condo fees, then be sure you are using all the features that HOA fee provides and how well managed the company is.
Most condos I have seen HOA fees go no where noything is fixed long wait periods. My associates condo was 43 degrees inside temp in the winter because heater was broken. Another associate had a broken diswasher which I fixed for them with only a $60 part and 20 minutes of work. Condos in warm area in none wealthy neighborhoods mismanaged trash etc. If you want to purchase a condo make sure you are on the board paying these fees are like blindly investing expecting positive returns.
I avoid HOA fee at all costs after living in condo in CA for 3 years. Moved to CO to buy a house and saved several thousands a year. HOAs are scam artists
Matt from Raleigh is mistaken about the GI Bill. Hi! I’m Matt after he retires and I’m here to tell you to save money for your kids final year of school. I am using my GI Bill and it is only $36K for tuition. It’s not meant to cover all 4 years of college. It’s only meant to cover 3 years.
And it might not cover all the tuition depending on the price of the school. They prorate the usage so my kids brush actually got more than four years. School isn’t 12 months long. It’s usually less than nine months a year.
I think you may be misinformed. The Post 9/11 GI Bill grants 36 months of benefits, not a certain dollar amount (there are limits based on public tuition rate, but then exceptions for yellow ribbon programs). If your service was long enough ago and you didn’t convert from the Montgomery GI Bill, there is a specific dollar amount per month based off of enrollment status. However, it also paid benefits for 36 months. A typical school year is 9 months, so 36 months of benefits cover 4 years of school. Edit: That all assumes you completed the service requirements to receive full benefits.
When that kid that wants to be a vet, talking about spending 160k over 8 years, said " it might be worth it" I laughed out loud. If I spend 160k and 8 years of my life on something I would be 1000 percent sure it'd be worth it. Scary how kids don't understand the worth of a dollar or signing their lives away on 160k loans with next to no information.
1:10:00 I feel for Bill in New Haven, but he is part of the problem. He sounds like a sweet doormat of a guy who has a domineering, overbearing wife. Together, they raised a spoiled, entitled daughter. "Oof," as George would say.
Agree. You can hear it in his voice. He is afraid of making either one angry and what’s sad is when Bill and his wife are no longer around the daughter will not have any life skills. They are not doing her any favors.
He was ok when they both ran up $70k in credit cards. Took out $100k for their daughter’s school. Then chose to retire early knowing this. He sounds like just as much to blame. Also it’s not entitled to say your parents can’t come to you after the fact and say “hey you owe us $100k” as if that wouldn’t have dramatically changed her life decisions.
We raised kids that turned out well but I wouldn’t have told them they have 50,000 coming. Kids are kids. Not only that this fund goes to them at 18 and the parents have no say, I don’t think you can put strings in this? How about saving within your own accounts where the compound interest will pay higher with the idea of gifting them yourself. Each year you can give I think it’s 15,000 now both you and your wife to a child and spouse of a child with no tax implications for them. That way if something unseen now comes up you have a piece of control.
29:23 What is he talking about? Not fixed: emergency repairs, heard of large emergency HOA fees, maintenance, variable property tax, etc. Mortgage is the least you will pay every month. Rent may increase once a year and be done but owners face uncertainty of yearly property tax and HOA increases as well as every month if something breaks. Maybe he is referring to the forced saving of home ownership (better than nothing) for those without financial discipline.
It's a youtube issue. The automatic closed captions aren't available yet during so-called 'live' streams (even if they aren't actually live.) The captions appear several hours later.
Funny story my parents put money away for me in a savings for college. Then, when I turned 19 and went to withdraw it found out my Dad (parents were divorced for 15 years by that time) took out the money and spent it! Since he set up the account, apparently, he was able to do that. So all that money my mom put into it gone.
The older gentleman….just get a few window units for the warmest rooms. We have never had central air. Don’t go into thousands of dollars of debt for AC.
Just started trying to budget on the every dollar app! I have a question if anyone can help me. What do I do about things I pay on a yearly or quarterly basis? For instance car insurance and garbage etc
What I do is create a "fund" on the savings section and name it car insurance. Then each month you set aside 1/12 of the yearly fee and build up that fund so when its time to make the payment it is there for you. I hope that makes sense, its hard to explain without being in the app!
I think once you are 72 with cc debt, bankruptcy is a strong contender. Unfortunately student loans don't qualify. Doesn't sound hopeful but I'd talk to the daughter about paying up and bankrupt the rest. Sad story
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
Giving an 18 year old a lump sum of cash is a horrible idea.. Pay for college sure, but wait to give them money until they've made some mistakes. They will lose it all 99% of the time
The average mortgage payment where I live is almost $4000. For housing cost to be only 25% of your take home pay, you’d have to make around 16,000 a month. Just doesn’t seem even close to realistic to me.
That average might be based on people putting very little down. A large down payment changes the monthly payment dramatically. Second, I hear this all the time from people who live in super high cost of living areas. Did you ever consider that you don't have to live in this one specific city? As Dave likes to point out, math doesn't care about your feelings. Maybe you move away and come back when you can afford it. You're not entitled to live in a super expensive ZIP code. I speak from experience by the way. Most of my family lives near DC which is just ridiculous. Rather than financially killing myself trying to live near them, I live near West Virginia and visit often. If I decide that I want to live there in the future, I can do so with the mountain of money I can save living somewhere I can afford.
@@BlakouttheMM idk what the “official” average is. That is solely based on research I’ve done for myself, and is based on 20% down generally. And I’m not going to go into my personal situation, but not everyone has the option of moving. Regardless of what Dave says or thinks.
@@Karisa1316 it's not about what Dave says or thinks. There are very, very few reasons why someone absolutely just cannot move at all. I've talked to plenty of people and it's always a bunch of rationalizations to justify staying in a place that is killing their financial future. You may be the exception, and genuinely be stuck, but again that's almost no one. People packed up their entire life and rode wagons across this country to make it to California back in the day, these days we have planes and cars and we can video chat with family and yet everyone feels like they have to be stuck in their old hometown.
No! At 59 minute mark.. don't roll old 401k into IRA. Leave it. Moving it to IRA can mess with aggregation rule when trying to execute future backdoor Roth. This is my second comment on backdoor Roth. Please study the rules before advising. Beggin ' ya. Really need a class on backdoor Roth pitfalls. Nontaxed monies in an IRA without basis can crush that huge benefit.
What do you advise to do with old 401ks? I always got the match in my 20s but now at 34 I've got alot of different plans with different companies and I want to put them into one place to make keeping an eye on acorns easier. Just trying to get my house in order, thanks.
@@robertscranton5141 gotcha, my new employer doesn't offer a 401k unfortunately... should I focus on finding a better job with better benefits and not touch my old 401ks until I'm settled in... or is there a way for me to transfer this money over without shooting myself in the foot... across 4 different accounts it's only 50k with 35k of that being with my last good job.. I've heard that you can drain 401k tax free to make a down payment on a house"which I plan on doing in the next two years" should I just hold off and tap that money and close those accounts when it's time to put down money for a down payment?
Question: my traditional 401k only has about 7k. My income will x4 by the time i retire (another 30 years). Would it be better to just pay the fees/taxes now and roll over to a roth account?
personally, i would stop contributing to the traditional 401k and start contributing to a new roth 401k or IRA instead. i'm not positive you could rollover the pretax funds into the roth... however i was able to roll my previous employer's roth 401k match (which their portion was pretax) into my roth 401k. explore any rollover option, but i would avoid the taxes and penalties from any withdrawal if i could. the balance is already low, so it won't impact you greatly in the long run. keep investing :)
@@ColorMyWorld250 thank you for your reply! When you rolled over the pretax match from your previous employer to your roth 401k, did you have to pay taxes/fees then?
@@boredtodeath741 the rollover was not taxable! the pre tax funds will be taxed at the time of withdrawal, after i'm 59 1/2. but that was a roth 401k to a roth 401k rollover. not sure if you can do a direct rollover from traditional to roth :/
1:27:12 question for George...just curious, how did you have to pull a credit report to know you had student loans? Did you have undergrad brain fade and forgot you took them out? Oof. So glad you paid them off, though.❤️❤️
I cannot believe this selfish daughter to this 71 year old man forced to go back to work.. The daughters behavior is disgusting, and she should be ashamed of herself. Even if learned behavior common sense your parents should be retiring from workforce not starting over. Just TERRIBLE...
I love Ramsey and may follow the baby steps but honestly the UA-cam community is one of the worst communities and so toxic towards people. I’ve never encountered such a toxic community. I thought you guys are all Christians but you sure don’t act like it. 😂
Why does Ramsay's keep giving misinformation! ITS LUDACRIS!!!! They say go to the credit union to beg for a nonsecured loan to pay off the default difference on the collateral secured loan ..THE CREDIT UNION WILL LAUGH YOU OUT THE DAMN DOOR😂😮
My heart goes out to Bill. I hope he and his family can start taking the right steps forward. Listening to his story broke my heart
Yeah deff.. I hope Bill can Overcome this.
I honestly don’t feel bad for him at all. When you’re 71 and had an entire lifetime to work at this, and 200k in debt and zero money is what you have to show for it, with 90k coming in, i just don’t feel bad for him. Especially the fact that he blames his daughter and wife for a lot of problem. It’s like YOU married her, and YOU raised your daughter. Dude needs a big ass mirror lol
@@Davefitz04 yeah I wasn't digging his whole pathetic routine. He's not a victim in any of this.
@@brookiegremlin6660he just sucks with his money.
@@reaper-sz5tm right. the problem isn't the wife/the daughter/the air conditioner/the cost of living in the area.
I ABSOLUTELY LOVE THESE 2 TOGETHER! Ken and George, you remind me of my brothers. Love you guys and love what you do! Thank you!
They have always been my top two as well, right from the beginning. Great chemistry 😂
They're ok. They made a few mistakes. Jack from Boston makes 6.6k gross and say take home was 3.2k those little details I notice they miss
These two worked REALLY well together today!
انا من العراق 🇮🇶هل تحب الباچه لو النعال؟
Agreed! Maybe a producer gave them notes because they seemed passive aggressive towards each other last time. I could be overanalyzing.
@@daniyell123It’s humor. That’s what they do.
These two are amazing together! Love the banter
Absolutely! I just bought George's book
Ken, you are absolutely priceless! “Rollin, rollin, rollin…”😂 I have many years on Ken but he could honestly be my Dad with some of the stuff he comes out with. Extremely funny. He’s the only one of the lot who can get away with saying the quiet parts out loud, like the comment about getting inside Delony’s head. Nothing ever said in malice, though! So good.
P
"you're smarter now! I don't care if you like it or not!"
I recognized the song from the movie from City Slickers
We Love Ken & George's banter, James. Keep this Team 'a Rollin' - Rawhide!
Rollin rollin 🤠
A root beer float on a Tuesday...my week is complete! I absolutely love this duo.
“The voice of fear is the rooted in tremendous pain” Ken Colman… so true..
Top two hosts of the show when Uncle Dave isn’t around….Dr John is awesome as well. Appreciate the content you guys continually generate for the people. Cheers!
Luuuuuv Ken on this episode! I think it brings something fun and unique to the show. 😂 Great job guys!
Omg. Poor Bill. He sounds so sweet. I hope he can get out of this and it doesn’t finish him off. ❤
❤️❤️❤️
$70k in credit card debt. Retired early. Blames his daughter for loans he took out and is now bitter toward her for it. Doesn’t exactly scream “poor Bill”
He didn't take out the parent plus loan. He was adamantly against the student loan. His wife did it.
@@nailatiylluf Bill is in a cage of his own making but I still have empathy for his terrible choices and lack of backbone.
@@arianavidal even if that is true (he didn’t have to sign the papers) what about the $70k in credit cards and the choice to retire knowing he has $170k+ in consumer debt?
Favorite duo! Thank you for all the great advice!
My FAVORITE team!
You two need to do more shows together!they
1:10 how much should we save for our baby's college?
11:07 should I sell or keep my condo, because of increasing HOA fees?
21:10 plugging a live event (slightly urgent sales tactics)
24:15 letter: I have extreme money anxiety despite not being broke for years
28:09 how do I save for a house?
33:39 what do I do with my sign-on bonus?
43:50 we're moving. Should we sell or rent our house?
48:42 should I get rid of the car that I'm upside down on? (The usual, take out a loan to cover the negative equity and sell the car)
54:00 discussion: how to rollover a 401(k)
1:00:00 should I buy a new (to me) truck? (Yes, you have no debt other than mortgage and you're paying in cash, and our guideline is that the value of all motorized and wheeled things is no more than half of your income)
1:03:48 (extremely rambly story) I'm retired, age 71, and wife willl soon retire, age 66. We' can't afford our current bills. Our daughter refuses to pay for her Parent Plus loan w e ook out for her. should I find a job with a 401(k) match if I have to start withdrawing from it at a certain age? (you need to start with the baby steps, don't even do any investing. and get your daughter to pay her own loan)
1:14:08 I'm 18 and am working on a business degree while I run my own business. What do I do? (you gotta pick whether you want to go whole hog on school or business, or go hard on both)
1:24:38 I just learned that I have $31,000 in student loans I didn't know about. should I consolidate? (no, do the baby steps)
My 2 Fav Ramsey personalities 4 sure :)
In regards to the HOA, why aren’t they suing the property management company? Condo owners pay huge monthly fees…what’s happening to the money???? Not going to where it is supposed to…
I thought the same too. I would be complaining and suspect myself
Yea i have a rule that i dont buy Condos. You dont even have control over your own house or money. At the whims of someone else. The dreaded HOA people! Lol
And doubtful u will get 10% return, if it was 7 your 53k would probably be 40k
@@Davefitz04 yeah that’s brutal.
They should hire a lawyer and potentially involve the police too. If the 3M cost that would cost each owner 30k, that means the HOA takes care of 100 units. There shouldn't be a lack of money with 500$ fees per month... That's freaking 600k per years in fees... The numbers don't add up
I enjoy and learn so much from your podcast.
Love Ken and George together!
I don't know if I would take the house. If the church fires you, it closes down, etc. You don't have a free house anymore. I would not want to be completely dependent on my employer for my housing, too much can go wrong.
My two favorites on this show!!
" Dose it kill him to dress like a Doctor" lol. Omg Ken . Love you both, such a great combination
Yes Delony is doctor but I think his heart wants to be a rocker.
Does
Love the dated references Ken! The classics are the best. Never stop bringing them!! 👍
My favorite duo!!! Love the men's fashion idea 👏 single guys need this more than married
I need to get back on track. Have had a lot of home maintenance expenses the past six weeks and have had limited access to cooking facilities, hance eating out and convenience foods. Seems I can't be bothered to cook now, still have so much to do in the house.
sounds like my first time listening to George reading the scripture of the day. Nice voice!
IMHO Bill's wife and daughter need to wake up to themselves. Will pray for Bill
You two together are the best ❤❤❤
K & G in the house! 👏 🙌 👏 🙌
I’m glad Adam from Miami has everything figured out already.
Adam, $31 in student loans is not unsurmountable - you can do it!
lol what
I feel for the caller Bill.
Sounds like a lot of self doing though… it astonishes me how you can be that age and let it get that far.. with only 1 kids no less. Seems like a man that never took care of things in his home and just swept it under the rug. Just his language towards his wife was quite something else.
I really want to see Ken throw a fastball. Make this happen.
انا من العراق 🇮🇶تحب الباچه؟ لو النعال؟
Ken I am 26 and recognized your rawhide and Tim “The Tool Man” Taylor reference! I am also in tune with George’s snark!
Ken and George in Florida. Margarita or Root Beer Float. Tough choice.
Nothing personal with Bill from New Haven, but I was a young man when that call started.
Love these two so cute together
Yikes, poor Bill, I have no debt and I get stressed thinking I might have to work a little past 52, I can’t imagine being 72 and in that much debt and being forced back to work to survive. That’s literally a “die working on the Walmart floor when you’re 80” situation.
If you want to be a veterinarian and don't want to go into debt, consider the military or getting a deal with someone like Purdue chickens thay may pay for your school if you work for them for a few years
This is the funniest show EVER!! Ken said what is in Delony's head!!!
I love these two guys! 👍
Me, too - good synthesis of two different personalities and approaches.
I'm wondering if Bill and his wife in Connecticut are going to have to go to marriage counselling and sell their home to clear out their mountain of debt? 🤔💭 Do they have a truck that can pull a small second hand trailer to live in? A minivan to live in? There are some videos on line that help coach people how to live cheaply in a vehicle. This is a sad situation.
Love Ken and George 😂❤
One of the things that people don't consider often enough when buying a condo is the HOA fees. My Mom pays only $40 a month, but neighbors in the next condo over pay $269. Make sure if you are paying high condo fees, then be sure you are using all the features that HOA fee provides and how well managed the company is.
Most condos I have seen HOA fees go no where noything is fixed long wait periods. My associates condo was 43 degrees inside temp in the winter because heater was broken. Another associate had a broken diswasher which I fixed for them with only a $60 part and 20 minutes of work. Condos in warm area in none wealthy neighborhoods mismanaged trash etc. If you want to purchase a condo make sure you are on the board paying these fees are like blindly investing expecting positive returns.
I avoid HOA fee at all costs after living in condo in CA for 3 years. Moved to CO to buy a house and saved several thousands a year. HOAs are scam artists
I was looking at condos in Florida and $1600/mo wasn’t uncommon 🤯😳
Mine are $350/months in Oregon… pretty much covers cleaning common areas, garbage, and elevator
Matt from Raleigh is mistaken about the GI Bill. Hi! I’m Matt after he retires and I’m here to tell you to save money for your kids final year of school. I am using my GI Bill and it is only $36K for tuition. It’s not meant to cover all 4 years of college. It’s only meant to cover 3 years.
And it might not cover all the tuition depending on the price of the school. They prorate the usage so my kids brush actually got more than four years. School isn’t 12 months long. It’s usually less than nine months a year.
I think you may be misinformed. The Post 9/11 GI Bill grants 36 months of benefits, not a certain dollar amount (there are limits based on public tuition rate, but then exceptions for yellow ribbon programs). If your service was long enough ago and you didn’t convert from the Montgomery GI Bill, there is a specific dollar amount per month based off of enrollment status. However, it also paid benefits for 36 months. A typical school year is 9 months, so 36 months of benefits cover 4 years of school.
Edit:
That all assumes you completed the service requirements to receive full benefits.
OSU is awesome for vets
Ken brings some old Americana! I like the old references.
Another song reference "you start walking my way, " and I'll start walking your wY
When that kid that wants to be a vet, talking about spending 160k over 8 years, said " it might be worth it" I laughed out loud. If I spend 160k and 8 years of my life on something I would be 1000 percent sure it'd be worth it. Scary how kids don't understand the worth of a dollar or signing their lives away on 160k loans with next to no information.
Bill should just buy a couple ac units for $100 instead of $14k for an entire ac unit. Connecticut isn't that hot.
1:10:00 I feel for Bill in New Haven, but he is part of the problem. He sounds like a sweet doormat of a guy who has a domineering, overbearing wife. Together, they raised a spoiled, entitled daughter. "Oof," as George would say.
Agree. You can hear it in his voice. He is afraid of making either one angry and what’s sad is when Bill and his wife are no longer around the daughter will not have any life skills. They are not doing her any favors.
He was ok when they both ran up $70k in credit cards. Took out $100k for their daughter’s school. Then chose to retire early knowing this. He sounds like just as much to blame. Also it’s not entitled to say your parents can’t come to you after the fact and say “hey you owe us $100k” as if that wouldn’t have dramatically changed her life decisions.
Can anyone tell me from experience regarding Acorn account is it a good account to have?
We raised kids that turned out well but I wouldn’t have told them they have 50,000 coming. Kids are kids. Not only that this fund goes to them at 18 and the parents have no say, I don’t think you can put strings in this? How about saving within your own accounts where the compound interest will pay higher with the idea of gifting them yourself. Each year you can give I think it’s 15,000 now both you and your wife to a child and spouse of a child with no tax implications for them. That way if something unseen now comes up you have a piece of control.
Be smart and don't move somewhere with a HOA.
29:23
What is he talking about? Not fixed: emergency repairs, heard of large emergency HOA fees, maintenance, variable property tax, etc. Mortgage is the least you will pay every month. Rent may increase once a year and be done but owners face uncertainty of yearly property tax and HOA increases as well as every month if something breaks.
Maybe he is referring to the forced saving of home ownership (better than nothing) for those without financial discipline.
@@stevenporter863انا من العراق 🇮🇶لا اعلم ❓ععما تتكلمون لم افهم شيئا
اني عربي لااعلم ما تقولون علموني انكليزي واعلمكم عربي 😂❤
Now that was funny....40 mph....Ken response was crazy....I am still laughing....
@daveramsey @ramseyshow please allow CC to your show. Having to switch from the transcript to looking at you is killing my neck. thanks
It's a youtube issue. The automatic closed captions aren't available yet during so-called 'live' streams (even if they aren't actually live.) The captions appear several hours later.
Funny story my parents put money away for me in a savings for college. Then, when I turned 19 and went to withdraw it found out my Dad (parents were divorced for 15 years by that time) took out the money and spent it! Since he set up the account, apparently, he was able to do that. So all that money my mom put into it gone.
The older gentleman….just get a few window units for the warmest rooms. We have never had central air. Don’t go into thousands of dollars of debt for AC.
Just started trying to budget on the every dollar app! I have a question if anyone can help me. What do I do about things I pay on a yearly or quarterly basis? For instance car insurance and garbage etc
I use sinking funds in high yield savings accounts.
What I do is create a "fund" on the savings section and name it car insurance. Then each month you set aside 1/12 of the yearly fee and build up that fund so when its time to make the payment it is there for you. I hope that makes sense, its hard to explain without being in the app!
@@splunk17 thanks for your help!
53k is definitely not too much!
My question is, what if you have more than one child?
I think once you are 72 with cc debt, bankruptcy is a strong contender. Unfortunately student loans don't qualify. Doesn't sound hopeful but I'd talk to the daughter about paying up and bankrupt the rest. Sad story
37:18
He said $90k signing bonus. If it was already taxed it was probably $100k and 10% or $10k was withheld.
They encouraged the guy to buy the Tundra, but never asked him if he had $20k in cash.
It's Rawhide
99 bux... You know how much rice and beans i could buy w that😂
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
Since the crash, I've been in the red. I’m playing the long term game, so I'm not too worried but Jim Cramer mentioned there are still a lot of great opportunities, though stocks has been down a lot. I also heard news of a guy that made $250k from about $110k since the crash and I would really look to know how to go about this.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
Thats true, I've been getting assisted by a FA for almost a year now, I started out with less than $200K and I'm just $19,000 short of half a million in profit.
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
Credits to 'Carol Vivian Constable' she has a web presence, so you can simply
Bro said hang with the 50-somethings in Florida I’m done😂😂😂
GEO-KEN...aka jo-kin. The new benefer!
GEO-KEN...JO-KIN...two funny men just GEO-KEN around!
Giving an 18 year old a lump sum of cash is a horrible idea.. Pay for college sure, but wait to give them money until they've made some mistakes. They will lose it all 99% of the time
John will blow up the run way with showing off his Tattoos!
Do all condos have a HOA?
The average mortgage payment where I live is almost $4000. For housing cost to be only 25% of your take home pay, you’d have to make around 16,000 a month. Just doesn’t seem even close to realistic to me.
That average might be based on people putting very little down. A large down payment changes the monthly payment dramatically. Second, I hear this all the time from people who live in super high cost of living areas. Did you ever consider that you don't have to live in this one specific city? As Dave likes to point out, math doesn't care about your feelings. Maybe you move away and come back when you can afford it. You're not entitled to live in a super expensive ZIP code.
I speak from experience by the way. Most of my family lives near DC which is just ridiculous. Rather than financially killing myself trying to live near them, I live near West Virginia and visit often. If I decide that I want to live there in the future, I can do so with the mountain of money I can save living somewhere I can afford.
@@BlakouttheMM idk what the “official” average is. That is solely based on research I’ve done for myself, and is based on 20% down generally. And I’m not going to go into my personal situation, but not everyone has the option of moving. Regardless of what Dave says or thinks.
@@Karisa1316 it's not about what Dave says or thinks. There are very, very few reasons why someone absolutely just cannot move at all. I've talked to plenty of people and it's always a bunch of rationalizations to justify staying in a place that is killing their financial future. You may be the exception, and genuinely be stuck, but again that's almost no one. People packed up their entire life and rode wagons across this country to make it to California back in the day, these days we have planes and cars and we can video chat with family and yet everyone feels like they have to be stuck in their old hometown.
Ken is not throwing a baseball 70 mph 😂 maybe 55-60 max
It was that he could swing a bat and make contact with a pitch that fast.
No! At 59 minute mark.. don't roll old 401k into IRA. Leave it. Moving it to IRA can mess with aggregation rule when trying to execute future backdoor Roth. This is my second comment on backdoor Roth. Please study the rules before advising. Beggin ' ya. Really need a class on backdoor Roth pitfalls. Nontaxed monies in an IRA without basis can crush that huge benefit.
What do you advise to do with old 401ks? I always got the match in my 20s but now at 34 I've got alot of different plans with different companies and I want to put them into one place to make keeping an eye on acorns easier. Just trying to get my house in order, thanks.
I would keep 401k in old employer plan or roll 401k to new employer 401k plan, if new employer plan allows.
@@robertscranton5141 gotcha, my new employer doesn't offer a 401k unfortunately... should I focus on finding a better job with better benefits and not touch my old 401ks until I'm settled in... or is there a way for me to transfer this money over without shooting myself in the foot... across 4 different accounts it's only 50k with 35k of that being with my last good job.. I've heard that you can drain 401k tax free to make a down payment on a house"which I plan on doing in the next two years" should I just hold off and tap that money and close those accounts when it's time to put down money for a down payment?
Question: my traditional 401k only has about 7k. My income will x4 by the time i retire (another 30 years). Would it be better to just pay the fees/taxes now and roll over to a roth account?
personally, i would stop contributing to the traditional 401k and start contributing to a new roth 401k or IRA instead. i'm not positive you could rollover the pretax funds into the roth... however i was able to roll my previous employer's roth 401k match (which their portion was pretax) into my roth 401k. explore any rollover option, but i would avoid the taxes and penalties from any withdrawal if i could. the balance is already low, so it won't impact you greatly in the long run. keep investing :)
@@ColorMyWorld250 thank you for your reply! When you rolled over the pretax match from your previous employer to your roth 401k, did you have to pay taxes/fees then?
@@boredtodeath741 the rollover was not taxable! the pre tax funds will be taxed at the time of withdrawal, after i'm 59 1/2. but that was a roth 401k to a roth 401k rollover. not sure if you can do a direct rollover from traditional to roth :/
George!
I feel so awkward when y’all banter. Like are you really trying to insult each other, or just joking like buddies… it’s hard to tell. 😅
I feel the same! Is it me, or does it seem legitimately testy between these two? Lol
Where is Kristina Ellis when you need her? This is an episode she would shine on
Whatever happened to Kristina Ellis? She just disappeared and I never heard anything about her again.
This caller with the HOA needs to get out ASAP and sell his place
Yes!!! George is going to sell so many copies of Breaking Free From Broke!! It’s so good!
It’s a wonderful book. Learned a few things!
5 stars ❤❤❤❤❤
Where is dave ramsey today?
1:27:12 question for George...just curious, how did you have to pull a credit report to know you had student loans? Did you have undergrad brain fade and forgot you took them out? Oof. So glad you paid them off, though.❤️❤️
I think he meant he did not realize how much it had grown.
Financial Entertainers
I cannot believe this selfish daughter to this 71 year old man forced to go back to work.. The daughters behavior is disgusting, and she should be ashamed of herself. Even if learned behavior common sense your parents should be retiring from workforce not starting over. Just TERRIBLE...
You can NEVR save enough money for your children's future..
Poor Bill.
❄️❄️❄️❄️❄️
انا من العراق 🇮🇶
هم اكو واحد هنا يحب الباچه
والقوزي
منو يحب المدگوگه انه العراق العظيم 😂😂😂❤❤❤❤😂😂❤😂❤😂
I don't know who gave a thumbs up to this. Can you read what it says, because I can? (I was born and raised overseas.)
I love Ramsey and may follow the baby steps but honestly the UA-cam community is one of the worst communities and so toxic towards people. I’ve never encountered such a toxic community. I thought you guys are all Christians but you sure don’t act like it. 😂
Why does Ramsay's keep giving misinformation!
ITS LUDACRIS!!!!
They say go to the credit union to beg for a nonsecured loan to pay off the default difference on the collateral secured loan ..THE CREDIT UNION WILL LAUGH YOU OUT THE DAMN DOOR😂😮