Are You Ready To Take Back Control Of Your Life?
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- čas přidán 17. 07. 2023
- The Ramsey Show (July 18, 2023)
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I am a teacher, and on my way to becoming a millionaire. I completely agree with Ken that teachers love their jobs and focus on serving the children, their families, the community, and society. Thank you, Brad, for that question!
I’m also a teacher. Where do you have your money invested? Thank you!
@@marbellaharo1258 You are welcome. Roth and 403.
Thank you for your response. This is what I have in my brokerage account: FBGRX, FTEC, FSELX, VIG, and FXAIX. In my Roth I have the following: SCHD, Voo, Focpx, and FBGRX. I don’t put money in my 403B because they don’t offer a match. What do you think about the mutual funds and ETFs I have my money invested in? Thank you!
I know many teachers who hate their jobs.
I worked 8 years at Sallie Mae, and the best advice I can give is never consolidate Federal Student loans, because then they become a single education mortgage. Also, that can change opportunities like deferments and forbearances that you might need along the way. There are many, know them all.
What's more important is if you leave them as individual loans you can use Dave's Debt Snowball Maneuver on them. For example, if you have four separate loans, you face four smaller targets. You can pay the minimum on three and hammer the fourth one until it's dead.
But, pull them up online and direct the payments yourself, because if you just carelessly send a single payment it is routinely divided between all loans. Same affect, technically, but I'd rather face a gang of hoodlums one-on-one.
The best from Ramsey till now “Toddlers can turn a car into nuclear waste zone”. I have twin toddlers and I agree with him 200%
Oh
Ohio
Agree 😂
Teacher, not married, in fact divorced him because of his money practices among other things. I am a millionaire. Every property paid off, primary, vacation, and rental. No debt. Got a great pension and 403b, and Roth waiting in a couple of years, love my job but it's time to hand over the reigns and try something else. It was all about living below my means, but within my needs, budgeting and NOT trying to keep up with the Joneses.
Why the rush? Besides having 9-10 months to plan, how much space does an infant take up? About one forearm. A new mortgage is a new indenture to another bank. It's the we make this much so we should have this much mentality. If I was bringing in $155k I'd be living on the 55. See how that would work out?
Keep that Toyota! My sister and brother-in-law have a Toyota RAV4 and it has 242,000 miles on it and it’s still running like a champ! I would not accrue any debt while going to FREE scholarship funded dental school. That Toyota is going to be just fine. Just think of the vehicle you will be able to buy when you’re done with dental school and free of educational debt!
that first caller who pulled out her retirement to buy a house .... i felt like I was in a consultation with a potential bankruptcy client. I also wonder if her hospital bills have started rolling in
I have had the pleasure of meeting Paolo & Elizabeth, so inspiring!!
Recently discovered this pod, luv it. Hooked. Great advice
Cool, welcome to the club.
Keeps me grounded!!!
I read that ad "divorced" 😅🫠
Love it is good, don't forget you gotta live it too :)
Nate and Dave together!!!! I almost stopped the car. I listen to both EVERY week. I told my husband I have too much testosterone in my life! Dave keeps me on financial coarse and Nate keeps me laughing!
i drove a used 1997 corolla until it reached 289,200 miles. i then bought another used 2015 corolla cash to hopefully be my last car. i am in baby step 7 and can afford more, but cars are a waste of money to me. you can’t go wrong with a toyota.
45:20 Dave, don’t ever disrespect a Toyota Camry like that. That car will be the on the roads longer than we’ll be on this earth.
Giant cockroaches will be driving the Camrys that humanity has left behind.
Dude from Toronto was making good financial decisions until he said he was going to buy a new Jaguar 🤣
can we please have Dave and George run a show together- those two are like pit bulls that escaped the cage. Love it!
They do one most weeks
Never heard of Nate, Nathan, Nathaniel 170% 😂.. new fan!!!
Wish I had come across David a few months ago. I'm so stupid to take out from 401k. Definitely, lesson learned the hard way.
Love Nat B. Thanks for having him on
Yea, Dave’s back!!!
Yes, the little payment does decrease your overall payment on your student loans
This lifestyle may be beyond my reach, but it's still enjoyable to watch and dream.
Dave’s biggest endorsement of etfs in his career. He basically said they are the same as mutual funds if you hold them. Turned over a new leaf.
$2000 rent in DC sounds like a bargain! And imagine if you owned and the AC died, especially the cost of services in that market. Sounds like you're doing well with it. Paying back for education should be your main focus.
Glad I was tuned in today. The info on UPS is interesting.
I’m grateful to hear a baby boomer acknowledge anxiety and trauma. Props, Dave.
Pathetic
Sell a car, get a personal loan, GET THAT $7,000!!
Pay the money back into the 401k within 60d and borrow what you need from your 401k - never withdraw just borrow if you are desperate.
I got excited when I saw the title then I realized it's this guy...
I am creative, I build cupboards (primitive American style ) I will make money, buy a house for cash and build at least £1000000. People like my cupboards, just needs to get them built faster. I'm saying being creative us mot stopping me. I use the Ramsey show to push me.
Btw you don’t get paid full salary when on strike by the union. Not even close
As a teacher, I was automatically enrolled in a pension. In Wisconsin, ETF deducts 6.8% from your paycheck and provides an equal match of 6.8%. You are automatically investing 13.6% of your salary amount at the start of the gate. That’s been very helpful. Add Roth IRA/403b contributions, and you are in good shape. 😊
In AZ, the state retirement system is 12.27%!!! But matches 100% sucks now but will be great later
Company match doesn't count towards 15%
The aeronautical engineer at the end just wanted an ego stroke on his subtle brag.
The Grammy Comedian hair is soooo Handsome!! Looks good on him!!!
I love Nate!!!!
Wow lots of folks there in the lobby today 😀👍
Not that it’s ok to borrow against retirement for a down payment but some retirement accounts do not tax pulling out that money for a home!
When you say borrow, I think you are rightly speaking about a loan you pay back with interest to yourself. I think the caller decided to withdraw, which carries heavy penalties. At that point it becomes heavily taxed and penalized early retirement income. That's rough territory
Great show!! I've missed the 'Debt Free Screams'.
Ask for a payment plan...the IRS will work with you. I owed 10k and made payments.
52:40 ... im 28 and i go to peoples homes and pickup their old tv's to be recycled. they joke but there is a guy out there doing it!
Ken, you always look a little disgruntled or nervous with Dave. 😂
Watch some episodes from a year or two ago - Ken was visibly pissed when Dave would cut him off and people always pointed it out. Dave still cuts everyone off but I think Ken does a much better job at brushing it off now.
ETFs have lower MER, I’m wondering why Dave did not mention this, it’s a huge factor.
1st call lady. I completely get this. Woman always want for their babies best, no matter what it takes, even going into mortgage debt. But rationalism is what comes first. Baby doesn't get much space. Just build up your savings asap and then when you are morally and money wise ready you good to go at least considering of moving to a bigger space.
I'm impressed by Dave's financial knowledge ! Listeners can all benefit from his response to problem solving with the 1st woman who called. Thank heavens she called before the 60 day pay back window..I would even forgo the #1 babystep for 1 month.I wish that we could hear the "end of the story".
She made a terrible decision
And they are only a baby for a short time. Better to wait to have a new house build new car etc when they are bigger and don't destroy it. Sometimes I think it's an excuse for the parents to get things rather than what the baby actually needs
I wish that we knew how much of Selena's disposable monthly can be added to her repayment funds.
1st lady Get a loan for 7k to replenish the retirement account
😂😂
She could get a a much better interest rate than 40% even if she racked it all on a few credit cards.
Put back $19K into her retirement then take a loan against her retirement to pay herself back the $7K then take a cash advance out of her credit card to pay herself back then take a HELOC to pay off the credit card. Then work an extra job to pay off the HELOC. Then watch Dave’s dad gum mind 🤯
@@r3negade47Although a person is taxed on their 401k withdrawals at the same rate even if they wait until retirement age to take it out, right? So I think the 10% early withdrawal penalty is the only real issue with withdrawing early.
Better interest rates. I like it
Hi Dave ,
Selling the place that I live in and paying all of my debts, ( paid off credit cards and cards ). I will net $75,000.
I am in my late 50's and trying to decide if I should purchase a $200,000 condo in Florida with 25 percent down and aggressively pay down the mortgage off , and then invest?
The second option is to place the 25 percent down just to lock in the property and aggressively purchase mutual funds/index funds? I have a $20,000 emergency fund.
My income is $75,000 per year, I have five more years to work and will have about $1700/month SSI.
Thank you
You don’t need a big house right away when you have a baby. It would have been better to make do in their smaller space until they could save up for a down payment.
Ken is a yes man... Ramsey is Calvin Candie and Ken is Stephen
Nate, if you read this, you gotta get on the same page with your wife about finances and show your daughter the way to financial peace!
I don't understand about the Pods Studio. Did they sell the property and rent it back?
It’s just a sponsor. It’s like football team with a sponsor name on the middle of their jersey.
Dave Ramsey for US President 2024 🇺🇸
Why?
What does fauchi have to do with people spending their benefit on drugs and vacations??
Fauchi lover.
Nothing…he’s just in the habit of getting that did in.
Legend
Fire sell the condo and rent in the meantime
Never heard of Nate Bargatze..the interview didnt impress me. I thought he'd be funny. Maybe there are some YT videos of him that would make me change my mind.
Netflix special - Tennessee Kid, I think its called. Very good material, no profanity. His standup is very good.
Nate is awesome! Great comedian and a great guy. He has a podcast and his standup is so good.
Never heard of him but his CZcams videos have millions of views.
He’s hilarious
Dave did a good job holding his tongue when Nate pulled the "hurr durr I'm a dumb man wifey handles the money." routine. You know, since Dave is always saying that both couples need to be involved with the money.
It would be beneficial for us all to focus more on the giving. When Ken asked the Toronto couple about living and giving like no one else, all that was discussed was buying a fancy car. Not very Godly.
He said median income. 4 a teacher is 61k? My wife Has been teaching for 18 years and only makes 51K. Are these stats from People up north? She will be making 60000 after 25 years. Here in South Carolina they start at 40k. She started out making 28500
In my area of Pennsylvania teachers right out of college make 55,000. They are required to take courses towards their masters and they are reimbursed for those courses and also given a bump in pay. The contracts that they work under are usually for 3 to 5 years and there's a guaranteed increase every year. I was always surprised when people talked about how low the pay is in some states. Pennsylvania has always been ahead of the curve.
However, many of the schools in our state are basically battle grounds with fights, stabbings, assaults on teachers, kids having sex in the closets, teachers basically afraid to walk to their cars… One of my friends is in an elementary school and she said the 4th to 6th graders are out of control. You can't keep anyone back so there's no incentive to do well. There are a lot of reasons for all the problems but the school districts basically have their hands tied. There are police officers in some schools and there are often huge fights outside the schools at closing time. The average student doesn't even make it to 10th grade unless he or she has parents who are strict and involved and don't put up with any nonsense. Is this every school in PA? No, but it's quite common and the reason I'm telling you all this is so that you shouldn't decide to move here without knowing what things are really like. The private schools, the charter schools, and the religious schools do not have these problems. But they don't pay as well.
The dude making 180k annoyed me. How the hell can you make 180k/year and be freaking out. The dude is acting like he is making 30k/yr and 500,000 in debt.
Instead of writing and rewriting the same information in every damn book Ramsey has authored, I would like to see a book with pre-Baby Step One tips and tricks on HOW to live on less in order to get that $1k emergency fund faster. Sure, eating beans and rice and/or delivering pizza are great metaphors but I know a lot of Ramsey's militant followers are taking his advice a tad too literally. I know a lady who went through winter without her furnace one year. In order to save up the $4k for a replacement she ended up with a $17k plumbing and drywall repair bill from the resulting frozen pipes that was denied by her insurance company.
I don't know if this info will help you or not but here's some thing I learned a long time ago and it helped me. My dad told me to add up the cost of some thing for the year rather than for the month. For example if cable is $200 a month that's $2400 a year and that's $24,000 in 10 years. Cutting and coloring my own hair at $50 per month times 12×30 is $18,000 over 30 years. I go out to eat about three times a year and I don't spend more than $25 including tip. Buying coffee at two dollars a cup five times a week is $520 a year. So in order to save 1000, you really have to work hard if you're not making a lot of money. I get that. But a hamburger and fries and a soda out will probably cost $25. For that amount of money you can buy several pounds of hamburger and a bag of potatoes and you could literally eat for five days. That's what he means by beans and rice. You're still eating good food but you're not buying candy bars which work out to about $18 a pound and Cheetos which are probably $15 a pound. I hope this helps.
You're supposed to take care of your 4 walls first so stupid cost her.
No, Dave, just because you adopt doesn't mean you'll get pregnant.
How does a $136k house in a small town double in 7 years?
I had a condo that went up almost 40% in 3 years.
Location location location
covid
My home has more than doubled in value the last 8 years
Starter homes (move in but needs some work) went from sub $200k here to over $575K inside of 3 years here. They have gone down a bit to around $500K with the increased interest rates.
🎉
Had to fast forward through Kristina just YAPPING
Ken and Jade work together as they are both easier on the callers. Aside - everyone is awesome! Thank God a doctor is in the house - he can fix it! Thanks John for your knowledge.
😂😂😂lol
Debt free scream. Son is 11, daughter is 10 1/2 ??
Dave, as is so often the case, is giving some bad advice. With less than 2 weeks to go until the current contract expires, businesses are already dropping UPS as their carrier of choice as the deadline is less than 2 weeks. The company would be hurting themselves just to wait until the last day to make a deal, since the Teamsters have made their demands known. Both of these guys don't have any idea what they are commenting on.
Dave is losing his "Papa Dave" touch and turning into a grouchy old man. Gosh he's getting meaner, I'm starting to prefer the shows without him. Is that part of the succession plan?