When Are You Going To Clean Up Your Financial Stupidity? | July 2, 2024
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- čas přidán 1. 07. 2024
- The Ramsey Show (July 2, 2024)
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Dave Ramsey & Dr. John Delony answer your questions and discuss:
- "How can I protect myself from my father-in-law?"
- "My car and insurance payment is $900/month,"
- "Should I fire my financial advisor?"
- "Should I buy an investment property with my uncle?"
- "Our neighbors are ruining our backyard,"
- "I don't want to keep sending money to my son..."
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As someone who grew up with 0 financial advice from family and friends, I greatly appreciate and look forward to the 2 hours recording every day. Thanks!
While I don't see eye to eye on a couple of Dave's teachings, I love the fact that he is trying to help people and is teaching financial literacy that works. His Baby stel program is top-notch. Thank you Mr. Ramsey and the Ramsey team for all you do.
64 with health issues and a baby otw is crazy work.
She has him right were she wants him
… and she’s in her thirties. Diabolical work.
She's going to be taking care of him and the baby at the same time. And working.
Is it his?… Plot twist
In their portfolios, everyone needs a margin of safety. It's not possible for me to give specific guidance, but speaking with a fiduciary advisor is essential for sensible portfolio restructuring.
Last quarter, I hit the $100,000 mark, which was exciting but unremarkable. You continue to work, save, and make wise decisions despite the uncertain economic climate. Nevertheless, my portfolio has seen a significant fall in spite of market increases. My goal is to enhance it and optimize the yield.
Yeah you made a point honestly, because i believe while maintaining the balance of your portfolio allocations, de-risk your investments, protect your core holdings, and realize some profits. During my 11 years of investing, 5 of which were spent working with a financial advisor, I have made nearly $2 million in return, which is a 10x return on my own efforts. Best I've done thus far.
thanks so much and I'm glad I came across this conversation. recently, my portfolio hasn't performed well, thus I believe I need a financial counselor. The person assisting you may be reached in what way?
Sincerely, I don't enjoy helping people, but I try my best the one i use generally regarded as one of the industry's top portfolio managers. Just search for the name. You would find the details you required in order to make an appointment.
Her name is *Leah* *Foster* *Alderman*
Papa dave and dr john giving us lots of words of wisdom today, taking notes!
I love Dave's imitation voice 😄
This video indicates you don't need a high IQ to be a good investor, just 2 qualities, self discipline and a lot of patience. Investing is mostly about behavioral psychology. How can I generate more income to retire with at least $3m for long term care?
investors like you should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder.
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than $45k passively by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns.
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help
I've experimented with a few over the past years, but I've stuck with the popularly 'Leah Foster Alderman' for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
As an atheist who grew up in Catholic and Lutheran schools- HALLELUJAH Dave!!! Smart man
Funny hearing an Atheist use the phrase praise God.
@@loriwilley7143I'm not dumb enough to constantly be in financial trouble like most Christians so I don't need Dave's advice
Don't EVER marry in to a family with all these ongoing dramatics. It will always cause endless problems with you and your spouse. I set my parents straight very early in my married life.
I agree. Whether you like it or not, you marry a family, not just a person. The only way this isn’t true is if the spouse has completely cut off their family or something.
My wife’s parents were amazing people. It’s my family that was a problem,or could have been,but I never accepted any “input” from family who clearly had no control of their own lives. It has to be a hard line.
The young man with a $900 car/ins payment - if his girlfriend leaves, he needs to understand that she was not the one he needs in his life.
The guy who makes 120,000 isn't taking home isn't tsking home figures. It's about 80,000 that's not alot especially if his wife stays home.
@@eileenwatt8283why can’t she work? Did we not vote for equality?
Dave Ramsey is so inspirational
Lol, ... so inspirational & serious face too!! No smile! 😊 I use to listen to him on the radio for entertainment reasons before the technology invasion!! I like his tough talk! Now, first time on the CZcams, he smees very stressed out with his caller's problem on his face,😢 Dave, you deserve better than this, put a smile on your face even when your callers have issues on handing their $$ finances!😅GBU, senicery, your fan on the radio!!👌
Raised Catholic and attended Catholic schools from 1st grade through my undergraduate degree. Still a practicing Catholic but pulled my children from Immaculata Catholic School in Durham NC because the administration, particularly the principal (Thomas) Patrick Kurz and some teachers did NOT reflect anything similar to the life of Christ. Catholic schools are nothing like they were 20+ years ago. I excused a lot of negative things about the school for quite awhile because I couldn't wrap my brain around the fact the principal had only his best interests in mind. I was operating under the belief he was a person of integrity at the detriment of my children. I still have a wonderful relationship with God and my Catholic Parish community. I hope the new dad has a much better experience but keep in mind what Dave and John said .... just because they call themselves Catholic or Christian doesn't mean the broken humans (as we all are) involved with leading them will reflect those values.
Cesar already did the deal, there's no saving him.
If they can make money out of thin air...then they can pay the taxes out of thin air. 💸
As far as pool. Ask the neighbors to plant the trees on their side since it is so high already. Or get Arizona Cypress, those do great.
Their land, they can do what they want, now you need to do something with your side.
Or move
19:35 I'm such a husband, except I'm a wife. I don't want or need a "dream meeting." Just give me the facts and a plan.
It’s interesting because the same husbands require more than facts and a plan. It took more to develop the plan (a risk assessment, intended outcomes, fail-safes) so why wouldn’t another intelligent human being, regardless of sex and role, desire the same?
To me it sounds like this girl is the drama queen… sometimes I listen to these ppl commenting and they are ripping others in their family and honestly you can see right through their bs.. Dave is saying ur father in law is a hot mess but really Dave has no idea.. this chick sounded like a Karen to me.
My thoughts exactly. I have a feeling she doesn't want her husband to pay the parent plus loans and since her FIL buy love from his family she feels that FIL paying the loan will make the husband cave in and have a relationship with hus dad.
58:04 VA loans - you must be owner occupied - has nada to do with money. Caller can not buy another home as an investment unless he pays cash. Caller can refinance his current VA loan to a Conventional loan, then get another conventional loan for the second house- if you have the money for the down payment+ closing costs. if you use a VA loan then you are limited to only having one home, unless of course you pay cash for the second one.
I've heard Dave talk about the fact that VA loans cost more than others and of course he doesn't recommend buying an investment property until your own home is paid off. A lot of people were in a lot of trouble when Covid hit and their tenants didn't have to pay rent and they lost their jobs or had their hours cut. I personally couldn't take that stress, lol.
Wrong. I have a VA loan for my current home, and was just underwritten for another VA loan for another home, which will be my primary home. Current home will be a vacation home.
That phone app guy clearly told the world he has a patent on an app. So now he is in a rush to get everything else done when he realize it’s not going as planned.
Why always ignore state inheritance tax? In PA, parent to child inheritance tax is 4.5%.
Only six states have inheritance tax. Maybe he is not current on his info?
This change in the state law only happened within the past few years. Those of us who live in Pennsylvania had a governor who was a complete moron. He decided to legalize fireworks, the type that you see at huge stadium events so we had 2 1/2 months of fireworks in every city before the fourth after that and he charged an extra 17% tax on those purchases to add to the state coffers. The police and firefighters couldn't keep up. He was also responsible for adding an inheritance tax that Pennsylvania never had. You get paid, you pay taxes on that amount, you invest it, and you pay taxes when you take it out and then the people that you give it to also have to pay taxes on it.
That is not true at all about the PA inheritance tax happening within the past few years. And paying the tax would be difficult for many folks on a $400k house if they had planned to keep it.
Why is it that this entire series is about planning your life so that you can live like no one else and every time somebody calls and wants to plan something in the nearer future, like how to pay for private school, they get mocked?
If the last caller’s father inherited the house from his mother, he would have inherited it at a step up in basis. Therefore, his basis would be the value of the house at the time of inheritance, not $0. So much wrong information on this show.
Why have a kid at 64 if you’re broke and sick? What in the world are you doing man? 1:06:31
Wifey wanted her old man to impregnate her? That’s so odd.
64 for help if you have long term disability Medicaid & Medicare will help with a nurse coming in to help
Yea this call was beyond weird.
I'm surprised that Dave didn't ask Hicks if he and his wife were in a (good) church.
Only Dave would make the husband apologize for paying off his wife's debt....
1:37:40
Wonder if ALL the performers are on BS4-7!!!???
Why would they need to be? They are working.
I've read that many ho insurance companies require a full fence around a pool. Does it have to be a certain height? If they raised the ground how high is the fence from the pool?
Personally, I can't imagine an HOA that would've allowed this. Perhaps this development is owned by someone in another state. And the way she described it - I'd move.
Wow! John hit the nail on the head! With the description of the current & former presidents 🤣🤣🤣🤣🤣 "hosted a reality TV SHOW! Not a business man (Mr Bankruptcy)🤣🤣🤣🤣 FORGOT Liar and con artist. 👍🏼👍🏼👏🏼👏🏼👏🏼👏🏼
Patrick please go and talk to someone who knows the ins and outs about this 😊
That guy with $5M paying 1% management fees would have better returns with a 3 index fund Boglehead style portfolio fees...
And as usual anyone with half a brain must ask this simple question. Why is it that all you who keep worshiping index funds refuse to post realistic real world on paper facts proving that index funds outperform mutual funds at any point in time in which the period of time that it outperforms the mutual funds is easily more than a year? I'll tell you why because none of you can prove that they do. Because if you knew that they outperform mutual funds which makes the only sense as to why you keep saying the same nonsense, then you would be able to produce proof of that
So again I ask you just like I've asked the dime a dozen on CZcams who keep saying index funds are better, show me real proof not just some general opinion
Taxes are very high in some states.. I wonder if hes paying into 401K.
What are "Air Shares"?
Let me get this straight?? So a Fiduciary has your best interests in mind ... but a Financial planner does not???😳
Financial planner may not; doesn't have to.
Now that’s a Karen… about the pool. Gesh.
Dude, sounds like the neighbor built Sesame Place in their backyard !
Did we get enough information so that we could look up this house on Google Earth? It sounds like they built Sesame Place. How in the world they got away with that is beyond me. Usually HOAs won't even let you put a wreath on the front door, lol.
they were too hard on the 1st caller. Her Father in law probably is manipulating and emotionally abusing them more than she was able to say. It woudl have been better that they let her talk and express her real fears
Dave if you want my help.. Hire me😊
Why have a kid at 64 years old if you’re broke and sick? What in the world man? 1:06:28
You all are implying that his wife have abortion that's mu-der GOD will get them through this.
The FIL is not an issue, she is and her insecurities. Cry baby
Most of these callers seem very mature for a.young age. Many married young. Would I be right in saying most of these callers are from more conservative states? As in not the east coast and not the west coast! I think one could find a nice christian girl in middle America. A moral girl but still a hawk tuah girl in private.
I need a way to draw up a plan to set up for retirement while still earning passive income to meet my day to day need and also get charged lesser taxes even while in a higher tax bracket. i want to invest around $250K savings.
Don't put all your eggs in one basket; instead, diversify into different asset classes to mitigate risk. If you lack extensive knowledge, consult a financial advisor.
@@SlowrideHome91 Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
Accurate asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
pls how can I reach this expert, I need someone to help me manage my portfolio
Jennifer Leigh Hickman is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
(BS7) no debt free scream on this show.
You could not PAY me to put my kids in a catholic school. Literally ever. Have mom homeschool
What if she doesn't want to homeschool?
@@bettedavis9261 …you can go to a homeschool coop which are all over and it’s essentially a school of homeschoolers. All of our kids were in one. Kids get socialized and are not in public school nor are they having the public school curriculum shoved down their throats.
There are so many options if she doesn’t want to homeschool.
@@BT-mc2yd sounds lovely!❤️❤️ So much better and advanced than when my children were in school 20ish years ago.
@@bettedavis9261 Yes, that’s true. Back then there weren’t many options and everyone was kind of forced to send them to a public school or pay out the wazoo for private. Not that way anymore ‼️‼️🙏🏻
With a $108000 profit she doesn't have to do all or nothing She could spend 1/2 of that and buy a small house leaving $50,000 in savings.
It's a 2-hour long show. Timestamps would help involving the conversation you're talking about. Also 100 Grand buying a house these days in the United States of america, where exactly?
I was wondering where Dave was going to go with his criticism of some aspects of religious schools (we agree). Over the years, I have come to the conclusion that when someone becomes born again or identifies as an evangelical that somehow they feel they need to be anti-Catholic. It’s like they just can’t help themselves. If you listening closely, Dave flirts with that line at the end of that call.
1:09:18 Dude, when in your 60's, dont play inflate the sausage with a 30's something woman.
Pay the parent student loan debt Be the bigger person. You're the ones with the education and you have the financial benefit of that education... Live below your means and pay off the student parent loan .. lesson learned.
@@Joce123 finally a person who loves his family. I agree pay the dad he needs help just because he helped you succeed. That’s what families are for
I understand that she is not legally responsible but the right thing to do would be to pay it. There are times when you do the right thing even if it's difficult and even if you don't have to. Be the bigger person.
@@brookelondon8029 exactly. Dave and John both put the importance of family down. Also they label the father as a terrible guy. What the heck. The father is a hero who took out a loan for his son so he could go to school. Such purity of heart needs to be supported and I would pay the loan and say “Dad Thankyou”
Take it from Nancy Reagan, Just say No🇺🇸💲
David, grant me $50 K and you will be considered a genius !
Dave has no idea what a fiduciary is, or how financial advisors and management fees work.
64 year old man married a “hospice wife” in her 30’s who is now pregnant and cannot look after him. A dollar for these stories will be a good side hussle.
I was in disbelieve on this call. What the hack is even happening!? lol. Hot mess
Live like no one else cruise and magicians there? That the bible is against things like that🤔 ! I dream to go someday even though I don't live in the USA but magicians, I strongly dislike and clawns 😊. Love the show ❤
The Bible is against witchcraft. Illusions and prestidigitations have nothing to do with that. Don’t be dumb
Sounds like isabell is a Karen to me
$900 a month is 10.8k a month. 30 k should be paid in 3 years. What is a 80 month or 7 years lease all about. I don’t get it.
I didnt understand that one either. I thought when you lease a vehicle you just pay the lease, you dont worry about the value of the vehicle.
900.00 a month is not even anywhere near 5 grand let alone 10.8 Grand a month. Apparently you didn't pass basic grade school math class and you need to go back
The husband 23 years old had his father take a loan for college but will not help his father pay it back. And Dave Ramsey is telling the son he doesn’t have to pay. This is disgusting. The son is morally responsible to pay or help pay this loan. Dave Ramsey this is against how family members help each other. Then you tell the wife the father is so bad. Dave has been drinking the Coolade again. All sons except apparently Dave will support the father any way they can even if there was no verbal agreement. The son knew what was going on and should pay the entire loan. Dave has lost it
Tell us more about how you don't understand how PLUS loans work.
PLUS loans are taken out by the PARENTS to make up the difference between what money the student has raised for his college education and what the education will actually cost. It is (theoretically) taken out by parents who are of sound mind and with the understanding that the parent, and not the student, is ultimately responsible for the loan. The student usually already has a hefty loan to deal with and therefore the parents do their part because they want their kid to have a college education. Now if these parents have been Dave Ramsey fans for the lifetime of the student, then they took out an ESA as early in the student's life as they could, and that money would reduce or hopefully eliminate the need for any loans, much less a PLUS loan. But unless the student agrees to help repay the PLUS loan after their own loans are paid off, then they have no obligation, moral or otherwise, to help repay the loan. The other side of that coin is that the parent can decline to take out the loan if they don't think they can repay it. In that case, the student has to figure out how to finance the remainder of their education, or they go to a less expensive school.
@@charlesputt8588 Charles thanks for your input. I understand this is a parent obligation on paper but you should know that in reality a son will assume the debt his father assumed on his behalf. Are you telling me you wouldn’t pay for this loan if your father took it out because you wanted to go to college. If I was your father I would beat the crap out of you for not taking on this debt that only happened because you needed some money. That’s why you are called father and son because together you can take on most problems that come your way. Dave and John seem to get this wrong. There is no business in father son relationships it’s only family. When you get this right you have the tiger by the tail.
@@michikoiesaka3365how is taking out a loan any different than if I want to cash flow my daughters college for example? I would never expect her to come back and say mom, how much did you pay in cash because I want to pay you back? Only difference is the parent took out a loan to pay for their kid’s schooling because they didn’t have cash up front.
@@laurab5849 you are right. I can’t disagree with your logic except the father doesn’t have any money he never did and he wants to help his son. The father is now worse than before and needs help. The son needed help now the dad needs help. Will the son help him. I wouldn’t say dad you sure got yourself in trouble helping me by taking out a loan and that’s tough luck let me know when you pay it off. Of course not. The son will gladly pay and should because that’s the way families are. Thanks for the reply
Agree. There was no legal responsibility. However, by not helping the dad pay the loan, the siblings suffer. The young bride seems greedy and selfish. Epic fail by Dave (in this specific case)
Life insurance👎🏼
When Dave does not know what he is talking about, just stop talking.
What are you talking about?
100%
The problem is, he thinks he DOES know...when he doesn't.
Get off the line. She's ridiculous
Which one??🤔
Great financial advice, but the grandpa political rants and conspiracy theories get old.
It's downright laughable that Rachel is advocating for life insurance when her father is easily worth 100 million plus. Like you don't have money already and you don't think Dave wouldn't give you a sizable inheritance?
Rachel is advocating for others. Saying she can't is like saying farmers can't advocate for food for the hungry or that rich doctors can't support community clinics.
@@DonaldRedeemed she’s also saying she personally pays for life insurance herself. There’s absolutely no good reason why she should be paying for it in her position.
Plus she's not relying on her inheritance to take care of her and her husband and children.
@@brookelondon8029 and Dave is going to leave Rachel and her kids zero dollars after he preaches about taking care of family after death? And you also think Rachel is paid like a regular employee or that she didn’t benefit from having his last name? Let’s not deny reality here
Ngga Dave is worth half a billion
Every time Delony is on, during the intro he’s constantly fidgeting. Moving his laptop, twirling his pen, stacking his papers, moving his phone, moving his laptop again. Good grief dude. Sit still!
I hope u use this studying people energy in your personal life the same
Have you heard his story? do you know his background?
He has overcome an incredible amount of ADHD and anxiety, raised by a homicide detective & because of his afflictions, he has a great pulse on people. I say, fidget all you want, Deloney!!
Dude he has ADHD, and OCD. Quit judging. Dr. John is still AMAZING at his job and it doesn’t impact his work performance!
Oh boy, here comes the John Baloney fan club. BRING IT!!!!
@@sagmeister2234It’s not even about Delony’s fan club. It’s just the facts. Dr. Delony struggles to stay still because he has diagnosed ADHD, OCD, and anxiety. I’m not sure what your issue is but I would suggest you stop judging. John fidgeting doesn’t impact his ability to help people. Dr. Delony is an amazing man! ❤