"We Made A Huge Mistake!"
Вставка
- Опубліковано 31 сер 2023
- 💵 Create Your Free Budget! Sign up for EveryDollar ⮕ ter.li/6h2c45
📱Download the Ramsey Network App ⮕ ter.li/ajeshj
🛒 Visit The Ramsey Store ⮕ ter.li/7vyom2
📞 Have a question for the show? Call 888-825-5225 weekdays from 2-5 pm ET or send us a message ter.li/n88ly5
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ ter.li/ng9950
🍸 Smart Money Happy Hour ⮕ ter.li/9gcp3d
🧠 The Dr. John Delony Show ⮕ ter.li/2u3mc0
💰 George Kamel ⮕ ter.li/1elws8
💡 The Rachel Cruze Show ⮕ ter.li/n2u6jc
💼 The Ken Coleman Show - Highlights ⮕ ter.li/1rbjr2
📈 EntreLeadership ⮕ ter.li/ktxv2k
Ramsey Solutions Privacy Policy
www.ramseysolutions.com/compa...
40K on a tractor is nothing, Dave understands nothing about farming
Or cars
I wish for him to show me a 3000 usd car which wont fall apart in 2 weeks
Also 40 k tractor is laughable, tractors cost 100's of thousands
He's out of touch...
Commercial-grade riding lawn mowers now sell for $10,000.
@@hiteshadhikari Dave loves to tell everyone who isn't a millionaire to drive a POS while he tools around in a $100,000 Ford Raptor!
The tractors around here in Nebraska run for about $400K 😂
40k for a tractor that is used on 500 acres is darn good . tractors used for that much land usually go for a quarter million easy , it must be used or getting by with a small one . even little 2-6 acre models cost 15 grand these days
You aren't lieing
@@colnathanrjessup687you can’t get a new agriculture tractor for $40,000 these days.
That’s the cost of a compact utility tractor, basically a big riding lawnmower where you can add a small front end loader with bucket and lift about 1,000# 70” off the ground.
A little John Deere 46 horse power 4066R compact utility tractor with no cab and no options is $52,000 before tax.
I know because I purchased a new John Deere compact utility tractor.
However, 500 acres is really only a hobby farm just like milking 50 cows is only a hobby dairy. Farming 500 acres is a side gig.
The math is such that you just can’t make a living from a 500 acre farm. That’s why it’s called a hobby farm.
Show me someone trying to make a living off a 500 acre farm and I’ll show you someone who’s bad at math.
I do agree with Dave, see a estate lawyer and find out the details of this trust.
My guess the trust is to protect the husband from loosing half the farm to her if they divorce.
Even if this is prime, rich soil farm land, it’s not fetching over $6,000/acre.
The famous 6666 Ranch in West Texas sold for 1,200/acre so my $6,000/acre estimate assume it’s some incredibly good farmland.
500 acres x $6,000 acre is only $3,000,000.
We are not talking about some generational wealth here.
See the lawyer, go from there.
40,000 will buy about 50 hp tractor. That won't pull a big round bailer
@@angusblack9900Right, but a tractor need not be new either; and many farmers buy larger than really needed. Folks used to farm 500 acres with 100hp & still can with the right attitude.
Trusts can be broken but you have to go to court and have a judge do it.
10 kids no money huge debt lolol what is wrong with people.
The husband is lying to her. He is WAY more invested in his family legacy land than she realizes. He is telling her that he can't sell it because of legal reasons when he actually can't let it go for sentimental reasons.
Agreed, the trust arrangement she described doesn’t make sense. His story doesn’t hold water
Yup everything can be bought or sold.
@@J-wu8sc No, not EVERYTHING
@J-wu8sc some trusts prevent sale
I’m sure it would be hard to sell a farm especially if it’s been in your family for generations.
Combines cost over 500k. 40k for a tractor isn't out of line
40K is way out of line when your husband is old and sick and can’t work the land
@@TonyCox1351 A modern (70's) tractor would allow her to do the farming.
@@kennethwers I didnt get the vibe that this woman has any interest in spending her golden years farming, and I dont blame her
@@TonyCox1351 true for the circumstances. Not true for the cost of farm equipment
@@kennethwersand they still cost half as much
40K is an extremely cheap tractor. haha Dave can't believe it.
Not sure if it's a 40K tractor, or 40K annual payment...big difference!
Never sell the farm! Ever, Ever, Ever!
$85k income they bought a $50k car. Wow.
$40k tractor on a farm they don’t own and this lady and hubby don’t even know the details of the trust?
Tell your husband to stop lying to you.
As someone who had dumb parents who lost all my family inheritance, DO NOT SELL THAT LAND.
Lease it, rent it, what ever you gotta do. Land will never loose value. And even if it does loose it’s number value, it’s the only thing that can actually sustain you and your family.
Especially on that much. But the government owns your land, you dont. You just gotta pay them off
@@user-mm8vw1ow1xyes as painful as it sounds we may think we own our house or land but reality is we just leased it. Government is the real owner because the minute we stop paying taxes good old uncle sams comes and auction it off 😢...
I will have to disagree with you here. They are way to much in debt for their age. They need to sell some of the land. I question how a trust could be setup. With no way to sell the land or house. Not everyone has kids. What happens if there is no next generation to take over. Maybe if land rents in the area are super high. Say above 200 dollars an acre. He could rent the rest of the land out. The guy has health issues. He needs to retire. I am a farmer myself. I found it funny how Dave was shocked at the 40000 dollar tractor loan. Most decent size actual farm tractors start at 100000 theses days. Go way up from there. I bought a used John Deere 73 hp loader utility tractor. A small tractor for a regular farmer. It was in the mid 40000 dollar range.
@@plem7210 I am a farmer as well and would never sell land. I think he should rent it and keep it in the family. Also 100,000 is getting you less and less these days. I bought a 4066M yard tractor a couple years ago for 42,000 and now they are selling for 55,000 despite having 300 hours on it. Kinda of a crazy market we are in right now.
The family kept the farm through several depressions.then the 3rd generation usually gets lazy and has poor management and loses the farm during record high farm income years.
The trust is a great way to go about it. They can just rent it out to get the benefit, no big deal. But what sounds shady is that they bought the house and then it ended up in the trust, there's something funky going on there.
Yes. That was the move cause This situation is why otherwise it gets sold. Not what the family wanted.
I'd really like to know the outcome to this. But I think they are uneducated and won't go to a lawyer
Hubby knows what's up, he should have been the one on the phone. I suspect there's a reason he doesn't want to discuss it.
See a good attorney. Sounds like she has all the negatives, doesn't own anything but responsible for the taxes.
I sure wish someone would "curse" me with a 500-acre farm.
The government owns those people and make them slaves. They would be just fine without the property tax every year.
Property taxes forces the poor out of their land
Most certainly.
My brother has owned acerage for 50 years taxes this year went up 75%.
@@michaeltewes7833 I don't know why more people don't talk about this aspect
It's not as good a deal as you'd think. Insurance and taxes will eat a goodly chunk of the income you can earn from the land, and if you have buildings on the farm maintenance will eat most of the rest. If you don't have strong feelings for the land, or want to use it as a nice quiet get-away spot the best thing you could do is sell it. And that's not a cost free option either. I have 5 quarters of farmland I inherited and on average I probably net less than $5K a year from it. But having the place and being able to spend time where the nearest neighbor is half a mile away is worth a lot to me. I'm up there right now, taking a break from things and enjoying the late summer weather.
The trustee can change or modify the trust however he wants. He can change beneficiaries, appoint a successor, or a director....in short, the trustee holds the keys to the whole thing. He's holding her hostage to the deal and making her think there's no way out of it.
Lol yep.
Yes, absolutely. My family's farm is the same, and the trustee just died and there was a successor trustee, his son, and many legal changes were made. The trust was also broken and divided once, so it can be done.
Yes my father had the farm in a trust. We inherited the farm and created our own . Trusts are mainly an inheritance tactic. Definitely need an attorney with this background.
These two have been stumble through life breeding and not thinking beyond a few days. Ten kids involved in a trust property? Talk about a way to destroy a family.
She sounds smart enough to fix this
Her husbands going to be so pissed at dave. There’s no way he’s going to see thst attorney. It’ll reveal his lie
Hi Dave! My name is Alexander. Our family (2 adults and 4 children) live in Moscow, Russia, have completely passed all your 7 steps. And we have been living without loans for 6 years. It's fantastic! Thank you for your guidance! Blessings from God to you and your loved ones!
Красава. Рад за тебя!
@@user-qv2pg2hi1g 💪
The $3000 car always gets me
I’ve tried that multiple times
6 months down the road $2000 catastrophic repair
6 months later $1500 repair
Just get a $12,000 used corrola or civic and call it a day
You’ll end up paying that much in repairs over the course of two years if you buy a $3k POS
That's because it's terrible advice.
I agree Dave’s figures are outdated, but the point is that even with a 3000 and 2000 repairs you’re way ahead of the 50K+ many Americans take on in car debt. If you tell one of these people to get a 12000 car they’ll talk themself into a 20,000 one. If you tell them 3000 they’ll probably walk off the lot for 12K
yup, 5 years ago you could get a decent dependable car for 4-6K not anymore, a 3,000 one now a days will just leave you with a big repair bill
Seriously. Even a $3,000.00 Honda or Toyota is likely going to be unreliable.
It’s not hard to find a 3k car, especially in the south. I didn’t buy a 3k car but i bought one for 5k cash and it’s been a good vehicle so far.
A $3k car???? Can you seriously get a car that’s less than 5k that runs WELL & doesn’t end up costing you more $ in the long run!???
When you’ve made dumb decisions and you’re 12K underwater on a 54K loan, those are the risks you sometimes have to talk
Buick LsSabre or Park Avenue with the 3.8 engine. They have no resale value because they are perceived as an old person's car. You can buy a NICE one for 3k and drive it a long time.
I bought my kia for 4k during the post pandemic price rises, the aircon doesn't work properly and its a bit older than my previous car, but it runs well and it costs a hell of a lot less that 54K to keep on the road
Her problem is that when he dies, she has to rely on the kindness of her child or she has no home. Literally. Lady, see a lawyer. And tell your husband what your concerns are so he can maybe bend a little. Because the trustee can change the trust. It suits him not to, because he apparently doesn't care about her.
Yes, there are $3,000 vehicles. Some may last a few years without much maintenance.
However, many of them will require $500-$1,000 or more in repairs yearly.
Best advice. Go see an estate attorney. Read the trust instrument and figure it out exactly what it says.
I think Dave is right, they need to speak to an attorney and figure out a way to either get out of this trust, and sell the land... Or just lease the land to a farmer. This is crazy.
Where in THE HELL does anyone find a three thousand dollar car?!
You can find them but they definitely are not worth getting!! I got 2 within a year and they were junk!!
Hang outside a casino and buy one off a compulsive gambler...
Rust belt states. Just gotta shop around and find one that's not as rusty and still runs good.
We got one from our friend that fixes transmissions. The cars that don't get picked up and he had already fixed. We ended up buying new tires, getting tags, etc. Invested an other $1000 and have kept it alive since 2019. My husband has changed parts on it but no major repairs. It's a 2007 Honda and it's still running like a champ. That's our daughter car, we told her this car is going to be your college car and you need to take care of it. She graduates this December.
I found one on LSN about a year and half ago for $2800. So far still driving just fine.
Selling the tractor and the car, and leasing the farm land sounds like very good advice. I don't see where selling or walking away from the farm helps them. The trust gives them a free place to live simply for paying the taxes, and the taxes on agricultural land is usually at a much lower rate than residential land. Leasing the land should pay the taxes and then some. Moving away means they would have to pay rent or a mortgage.
Show me a $3K car that would work for this lady right now. Good advice if this were 1998.
Right? With 10 kids, there has got to be some grandkids by now. She needs more than a 5 seat beater.
I agree 110% Dave doesn’t understand that heater cars of today cost 7500$ and above for something actually reliable!
@@garrettholtz8379 her youngest is 15 , she isn't driving them all around at once
$3k gets you some real trash
@@Eric_BassettThey really don't need something super reliable. She homeschools and her husband already has a truck to get the groceries with and run a few errands if the car breaks down for a little bit. There are tons on Facebook for the $3k range
Very sad, we don’t know why things will happen. We must prepare ourselves for the hardships.
Wow! That land situation is an eye opener.
It's guaranteed income. Let someone else farm it if you can't do it economically
No way do they need to sell the land like Dave says. They could lease the land to a farmer for more than they currently make a year. Yes the tractor and car loan are stupid. But no way do they need to break up the trust and sell the only asset these people will ever realistically pass on to their kids.
Agree, people were not stupid when they set up the trust, anything could happen but this land will at least feed you and your family no matter what.
My geez - short term thinking here dave
Husband should have been the one on the phone. He knows what's going on and hasn't told his wife what's up, and I'd guess there's a reason he hasn't.
exactly!
He got sick and the whole façade collapsed. No more lies, buddy.
She seems like a really nice lady. Tough situation. I would think 500 acres would be a blessing.
Rent the house, lease the land
I don't think Dave is up to speed on the prices of used vehicles in the market last several years, good luck buying a $3,000 car that's not a rolling pile of Crap!
Dave hasn’t actually adjusted his numbers for anything outside real estate since like 1998
When did, $3000 buy a great car in the last 20 years lol....they always been beaters for 20 years that price range.
If you have debt, a beater is all you deserve.@@markg999
@@markg999 Well to get a decent car for that price you would have to purchase prior to 2009 when Obama initiated the Cash For Clunkers program, Pre-Covid a person would still stand a better chance than today!
I’m more confused than Dave. I have no idea how good the farm land is there but you would think they could lease for $200/acre. That would be $100,000/hear.
Only for good cropland, but if it's farmland it's good for something, & even a fraction of that is a positive income contribution .
Bless Dave’s heart. He still thinks you can get a used car that runs for $3,000. 🤣
Dave should sell these $3,000 cars- he could tack on $500 and people would buy his $3,500 cars.
I be thinking the same thing lmao u neee atleast 10k to get decent car that won't give you issues. Especially since most people don't know how to look at cars or do car work
It's so simple to talk and give advice 3000 maybe a motorcycle 😂
If you don't know which end of a screwdriver to hold, then yeah, owning an older car sucks. IF you can find an honest seller, a 3000 dollar car doesn't take much work to keep on the road. The problem is, people say a cheap car has too many problems, then they go out and "buy" a $15k car.
@@SnifferSock I bought my car in 2019 after taxes tittle and maintenance plan was 21k same car around 60k miles is 10k or less and it's also fuel efficient
Lots of perfectly serviceable $3000 cars on CL in my area. Not anybody's dream car, but get you back and forth to work for a few years just fine.
Yes in the leasing!!! ❤❤
500 acres. That should produce around 100k per year by renting it out to a farmer. It could be worth 3 to 5 million.
Exactly! Even here is rural west Texas, that’s a million dollar piece of land. And renting it would easily earn $100K.
Depends on the region, the crops you can grow there, and the quality of the land. Where I live land doesn't rent for anywhere near that amount. I have 5 quarters of land (800 acres), about 70% of that is tillable acres. Some of that is in CRP and the rest is rented out. I get a little over a quarter of that amount in rental income - and that's the going rate here. Now a couple hundred miles away there is some land that probably rents for much closer to that amount, but that's some of the best farmland in the country.
If there is any acreage that is wooded acreage they need to lease it out to hunters.
I disagree with the $3K car. She's not finding that. She has to search for a less expensive car than $53K. Cars are expensive, used or new but she needs one if shes working, a reliable one.
You could have so many hay bales $$$ 500 acres.. talking about tens of thousands a year
Dave does not understand how farming worker's
Do not sell or lease the land out
Um....someone this clueless has been homeschooling children?
Telling someone to depend on a $3,000 car to get them to their job and expect it to save you money, is just absurd. I know because I drive $3,000 cars. I am also constantly working on them. Dave has completely lost touch with the used car market. One of my peeves with Dave Ramsey. He's been rich for too long to relate with working class people.
Never spent more than £1000 on a car for 30 years, went through approx. 12 cars, got to work everyday, when it broke got it fixed, whats wrong with all your cars?
id say 3-5k for a shitbox and another 1-3k/year in repairs for the shitbox is a lot better than 40K+
@gtolose It isn't 30 years ago. It isn't 5 years ago. Since the covid money, the car market is absurd. Anyone who has recently been looking for a car in the United States of America knows this. Not to mention, the price of mechanics has gone through the roof. Anyone with a cheap car that doesn't do their own work knows this.
I bought a car for $250 been driving it for almost three years now, it sat derelict in my neighbors yard for years. When folks move they’re very motivated to sell.
She said it’s a Hyundai, the largest Hyundai is a Palisade which is most likely what she got including and insane market adjustment… I happen to have the same car but as company car and the lowest trim which was 36k…
A 40k tractor is nothing really big these days, even used compact tractors that are 15 years old run around 15k.
I cannot understand how people spend $55k on a car "because I need to get to work". I make multiples of that income and have NEVER spent that kind of money on a vehicle despite the fact that my commute is 35 miles 1 way. 'Course, I guess that's why I'm not deep in debt.
I usually agree with most things Dave says. But not this one! Don't bust up that family land. Don't sell it. It's time for some of them kids to keep the wolves away.
LOL at Dave asking "How's your credit?" LOLOLOLOLOLOLOLOL
This seems weird as hell… trustees have the power in the trust. You should be able to sell but maybe their is a penalty or clause, but super strange.
If her husband is the beneficiary of the trust, then he would get the money from the income from the trust. They should not lease on a crop-share basis, they should lease on a cash basis, and then the beneficiary of the trust gets the income. If the trust owns the house, then the money she paid for the house, is de-facto her husband's money. Dave's wrong on this. You're in a GREAT position, it's not a curse. My wife is in the same position as her husband, and 500 acres would be a *gigantic* cash cow. I know this is a different state, but that would be 150,000 per year of income where we live in Iowa. I'll bet cash renting 500 acres would be at least 100,000 per year income in TN. (after some research, it might only be 50k per year in farm rent income for TN depending on the quality of the land , but that's still better than it being a burden!)
You also need to find out if the trust is revocable or irrevocable. That's a big thing to learn about the structure of the trust. If it's revocable, then your husband can dissolve it and sell it all. If it's irrevocable, then at the least, he's got a cash generating income on his hands that you aren't taking advantage of!
Maybe lease/rent the land. The problem with selling land is that Uncle Sam will take large amount of whatever they make off of it.
I thought she said that her and her husband bought the house from his parents when they moved there. That seems like an odd thing given that the house is in the trust
@@AnonAnon-im6fm this is why doing business with family is a bad idea
She said that they “paid money” for it. That doesn’t mean they did it in a formal way. These people sound like they just fly by the seat of their pants. 10 kids, WTH
Wow what a mess
Cause we all know the only way to get to work is in a $60,000 vehicle.
She doesn't know what crops they grow?
85k and 10 kids, "Sheesh"
This really is a small amount of debt in the world of agriculture most 500 acre farms in North America would be leveraged significantly more than this but leasing the land likely is a good option in case the next generation is interested in farming
Dave , where are these $3000 cars ? I want one .
There aren't amy
I would not try to find out how I could sell the land. Like Dave said, lease out the land if you can't farm it yourself. The lease should pay the taxes and any other expense associated with the farm. There are just getting to be fewer and fewer old family farms around, I hate to see one split up.
Dang, that's a really CHEAP tractor! Someone here doesn't understand farming in any way,shape or form....
The farm and that tractor is making them 10s of thousands of $....
Then you start sticking 5 grand in a 3000$ car and still have junk to rely on that headed for another 3 grand and another.....and another....
Two things
1- dave doesnt know cost of farm equipment
2- dave is clueless about cost of 2nd hand vehicles too
I am from India but i know no one is selling a car for 3k, you wont find a good old car for even 10k in US
Also 40k for a tractor is chumo change, farm equipment cost 100's of thousands
She lost me at 10 kids. 😂
@lombardo141 - That was a shock.
Stupid is as stupid does
If the trust is what owns the property, wouldn't it be the trust that has to pay for the taxes? It doesn't make sense for them to pay into something they don't own.
If he is the trustee, he is responsible for the execution of the trust. He doesn't want to sell it.
@@RozeeBeez so is he not telling her the entire story or is there something else I may be missing or don’t understand?
Bet it's an Irrevocable Trust.
@MrWick-tx8hcI believe if you put your home in a trust to get government benefits, like nursing home paid by medicaid, it has to be an irrevocable trust
I would include the tractor in with the deal on leasing the land
They are millionaires with no money.
500×$3,800= $1,900,000
That's the worth of the land.
They have to pay property tax on that with hardly any income. Yikes.
Probably
@davidkottman3440 no, absolutely.
Explain how they aren't with 500 acres.
@@melanieb2132 the trust owns the land, perhaps it skips this generation and they only have use for life, someone else inherits. We assume it's valuable land, not all has good value for various reasons; being legally restricted can be one of those reasons. So, yeah: maybe, probably.
@davidkottman3440 yeah, I'm not sure I trust they can't sell. Maybe the wife can't sell, but the husband can? Many trusts are written with the inlaws not having any authority to sell, but just receive rent.
But, I think they should be making around 40k in rent per year at least. That would cover the property taxes, and if she has a full time job, they should make it.
That is a cheap tractor
A $3K car is a deathtrap.
Hmmm. You will be surprised. You have to look for them but there are good cars out there.
A $3000 car is just high mileage, not a death trap. Mine is 2012, high mileage and worth $4000.
@@Feliciations yeah that’s not the mentally of most people these days unfortunately. The car industry has done a great job convincing people that they need new cars every couple of years.
Anyone can spend a little more if they choose, there's a lot of room between 50,000 & 3,000 dollars. Follow the advice & spend $9000 for a car would accomplish nearly as much.
The farm is only in a Trust to protect the husband in case the wife divorces him. That’s the only person it’s protecting. He has complete control and if he is an only child and the executor, I’m thinking he could sell some of the land and isn’t being honest (perhaps) with his wife.
I’d be yelling to get my money back that I paid for the house at least. I’m sure they were trying to prevent selling for subdivisions, etc.,but it’s awful.
Sounds like her husband is a farming/family heritage nut case because depending on how many years this has been going on - if the "farm" does not generate enough profit cash flow to keep them out of debt and allow for savings i.e. live debt free - THEN STOP FARMING! Move on to a job or something that includes benefits such as disability so they would not have a $30,000 personal loan. She goes back to work and needs a vehicle - car, truck, SU, etc. and it requires a $60,000 vehicle? Good marketing by whomever made them think that way. If they paid $$$ for the house but do not owe it - where did that money go??? Her husband sure sounds like he has been handing out a lot of BS to her for a long time.... 10 kids? That was not cheap either. Decisions for the most part - financial - sound as if the husband was making them until he got sick. Pushing 60 years old? Retirement? Nothing wrong wth the "trust" so to speak if it is managed and handled correctly but sounds like many years back it should have been switched to renting out the tillable land; perhaps some logging and/or firewood sales; perhaps renting some of it out to hunters and/or for recreational but if the end result of it is no savings/no investments/no retirement and nothing but debt his "farming" should have ended long ago and she should have been more involved verbal as it is their future - not his on a solo basis.
Farmers don't pay very much to lease land.
Depends on the land & farmers & location.
For some reason, some think that math and money doesn't apply when it comes to farming. My nephew would make more money delivering pizzas than he would farming...working less hours. Fortunately, he has a full time job to support his "second income".😄
Great show 🙌 Dave
Wish I was cursed by having a 500 acre property.
"Sell the tractor, lease (rent out) the land. That's what I did. Equipment is so expensive today you just can barely break even on 500 acres - if you can even do that. The tractor can likely be sold at a good price without issue as good used equipment is always in demand. And you can make a nice bit of semi-passive income on renting out the land. I don't have a trust to deal with however.
40 k for a tractor is nothing and you can’t even farm 500 Acers with a 40 k tractor
54k hyundai come on now
I can't believe someone paid that much for a Hyundai
There is a HUGE learning curve to managing a farm. Cash renting/leasing and a few odd jobs should keep them fairlu comfortable
Who is the Trustee? The trustee gets to control the assets of the trust!
$3000 cars are pieces of s*** right now. The money you THINK you'll be saving will go right into the car. Unless you find a seller desperate to dump something and don't care what you buy or know the person and they're willing to work with you. I don't know anyone driving cheap cars that aren't constantly putting money into it. Might as well get the note
A homeschool teacher that doesn’t know simple math. These kids are going to be a mess.
Dang, half of Dave's audience must struggle with which cap gets washer fluid and which one gets oil. Some of ya'll act like used cars explode at 150k miles and require $5000 a year in parts or anything pre 2010 is not worth laying eyes on.
My parents bought a 2010 Lincoln with 96k miles for $10k in 2018-19. I bought an 80s camaro with 93k miles for $3200 and my brother bought a 90s mustang with 86k miles for $4500 in 2014-2015. I bought a Cobalt with over 210k miles for $1000 at the end of 2020.
Stop pretending that a decent ~$3000 car only existed when your grandfather was a kid.
Exactly, cant tell nothing to someone keeping up with the Jones’s. Some folks car is their identity, and think people actually care and maybe some do but no one you’d want to associate yourself with anyway. That’s the mentality I get from those commenters.
They are thinking literally, rather than applying the principle, in your example half of the cars cost more than $3000; but were good deals.
$3000 car?? Where??
They are indentured servants on that farm.
Nah, they just aren't managing the situation.
No one has $40K for a car.
Good idea to lease the land
Tractor prices like a lot of things have skyrocketed in the last couple years so depending on what it is and when she bought it she could potentially make money on it, of course she would have to convince her husband to part with it
This man having a baby at 55 is quite impressive
no its not
His deek aint dead brav
My grandfather fathered his last child when he was in his 60s. It's dangerous stuff.
A woman yes a dude no
Thats one word for it
don't sell the tractor, Dave doesn't understand what it takes to operate a farm, you won't make a dime leasing the farm. the neighbors are circling the farm waiting for them to fail. get to a attorney and get this figured out, saddle Dave up to a plow and see if he can pull it, he will change his mind about selling the tractor quickly.
Depends on the neighborhood. In the Midwest most of us could get more cash rent than our profit will be... some places are the opposite & you have to work it yourself to make a buck.
They didnt trust this woman. Does Dave even know what tractors cost?
This lady is getting played. Husband just does not want to sell the farm. 10 children. OMG. Bad choice after bad choice.
Ramsey swears someone is going to buy an over priced car..they will get 1/3 of what they think they could get
DAVE WHERE ARE ALL THESE 3000 DOLLAR CARS???
I'd put money that there is more than one trustee, I bet there's a couple of brothers and uncles, this trust is in place so that one person in the family can't sell the family farm to pay off their wife's $40,000 car loan and its about to be put to work doing just that.
If the farm is in a trust the property taxes, etc… should be taken care of by the income to the trust.
Additionally you may be able to end the trust. Definitely see a good attorney.
You can end the trust as long as it's a revocable trust. If it's irrevocable, they can't. I agree on "talk to an attorney". Make sure they know about real estate trusts.
I’m at 1:15 in the video and she didn’t breath yet 😅 this woman is just bla bla bla bla Dave bla bla bla bla Dave 10 kids bla bla 😅 take a chill pill girl
Where is someone gonna get a 3000 dollar car?? Not in 2023..
I'll rent the farm