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@zeubanks1 5 күн бұрын
Dave needs to read up on sequence of returns risk...
@RebeccaHutchings 3 ай бұрын
I think this programme has come as Im rooting myself into a world without money.
@johnnyboyvan 3 ай бұрын
Provide advice for singles not married people. I heard nothing of use...sorry my perception. All too general rather than one specific thing. Ho hum. I am a wealthy single.
@donnymac575 4 ай бұрын
Volume too low 😢
@EJO_VZN 5 ай бұрын
Thanks for this. I appreciate your insight. Also, for the plug at the end for life insurance. My wife and I are expecting our first child in December and we are looking into life insurance. She doesn't have an IRA yet but I was looking into opening her a Roth IRA and contributing to it on her behalf. I already have one myself. But I've also been wanting to contribute to the brokerage account to grow our investments faster with a bit more liquidity than a retirement account. That said, do you recommend prioritizing maxing both IRAs before making contributions to a brokerage account? Thanks
@toddhurd6491 5 ай бұрын
Good job Candice!
@Thiefs202 5 ай бұрын
I wish I would have seen this 6 years ago
@Thiefs202 5 ай бұрын
Completion yes!! Yes solving your problem ! Yes your economy! This all bit me in but !
@rasch760 5 ай бұрын
Many women put themselves in a great financial position by getting married, then getting divorced and using the system to build wealth. Men , however are just screwed by wealth, creating, let's say marrying women. Every single vid about a women creating wealth has a man financing it all due to divorce.
@sueschoers4974 6 ай бұрын
You are correct, unfortunately when a person marries, they loose their financial individuality. I was only married for 6 years at the ripe old age of 30 with 2 kids, I was pushed into financial responsibility. Financially it was the best thing to happen to me as it made me plan for my future. Broke my old age down to how will I get the care I need as I need it. You need money and a multi person dwelling home. I have completed the first part and am now ready to build a new home that has a self contained studio attached. Until I need care I will rent the studio out then when I need care, I will hire a carer that will live in the house and I will move into the studio. The provision of the housing will form part of their wage. We all need to think outside the box for long term care and make the most of what we have.
@toddhurd6491 6 ай бұрын
Find a river or lake house here in Arkansas.
@davideades160 6 ай бұрын
And all when I first got married I kept my wife home to take care of my kids then when my kids were old enough like 12 or 13 she got a job. That was 40 some years .
@davideades160 6 ай бұрын
She wants to retire a if you want to work then you work. P what's the problem.
@Srode1999 7 ай бұрын
You all obviously live in your mother's basements spending all your time watching Tik Tok and posting on Reddit and have never invested. Dave did the world's most comprehensive study of millionaires ever and every single one has a portfolio of four different twelve percent mutual funds, they all draw down eight percent every year, live until 110 years old, and their sexual function gets stronger every year they are alive. You all are pathetic.
@jjpac2011 7 ай бұрын
sorry. started off interesting but for me, once arrogant Dave Ramsey is mentioned, I'm outta here.
@tagawa 7 ай бұрын
Total waste of time listening to this. It's supposed to be about retiring solo, but every other word is "spouse" this and that.
@vjbhatia77 7 ай бұрын
Nothing is a guaranteed safety net. That’s why you have to diversify your risk.
@tamikagamble3408 7 ай бұрын
Long term medicaid is such bullshit
@toddhurd6491 8 ай бұрын
Audio issue in intro.
@hairyface1180 9 ай бұрын
Will you do an entire show on social security. For example; When I can withdraw and how many credits I need to claim it. Benefits of taking it sooner vs later and when those would apply. Married, single, pensions
@5metoo 9 ай бұрын
So front load it for early in year, and still get the total match of 6%. Not hard. 70% of my check is the max I can do with my company. I set it to 70% for 3 months and then drop it to 6% for the rest of the year. Best of both worlds.
@papasquat355 10 ай бұрын
The more I learn about the 401k, the more I think a max Roth and brokerage are a much better approach. The only time a 401k is the better option is when you know your tax rate at contribution is higher than the tax rate in retirement, but even then it becomes taxable income that impacts capital gains and social security taxes. The combination of Roth and brokerage would provide a zero amount of taxable income at retirement which would produce 0% capital gains in the brokerage and untaxed Social Security. Please let me know if I'm wrong.
@johngill2853 10 ай бұрын
Most people pay less taxes in retirement, but you may not be most people The years before Social Security will be great for my traditional accounts but I plan on having very little traditional at 70 and after
@icbluscrn 10 ай бұрын
1st Rick never mentioned he was doing the over 50 catch up. 2 you never explain what/why the difference of maxing out early between stretching out.
@WilliamWeitz 10 ай бұрын
My employer in 2024 started a great program where they do a match true-up at the end of the year for those that max prior to the last paycheck. I used to go around telling everyone to not max prior to 12/31 for your max match. I thought this was a huge QOL improvement.
@itsalwaysreal568 10 ай бұрын
I would like to add, I max my 401(k) contribution early on as the company I work for trues up the match in Q1 of the year after you max it out. I like to get it out of the way and believe time in the market is better than timing the market.
@toddhurd6491 10 ай бұрын
Save money so that one day that money can save you.
@jackhunter5846 10 ай бұрын
Wrong. They have stood the test of time.
@TheDjcarter1966 10 ай бұрын
At last 12 years im at 11.5%
@BerserkHighlander 10 ай бұрын
After you factor in inflation it's more like 7%... 8% if you are lucky.
@barbarapeehl1528 11 ай бұрын
My mom just died on Sunday andshe has a reverse mortgage , dose the bank owned it
@roseymalino9855 6 ай бұрын
Did she designate you or anyone as her heirs?
@dickslocum 11 ай бұрын
Well we are now at the start of next year RE HIS PREDICTION.., Still no slowdown or recession. HE IS A HACK ...........
@sallyprzybil2404 11 ай бұрын
You should also have figured your fixed income, and/or buffer savings, and budget, to weather times when the market is down. Also you need to have a lowest boundary, a number amount that you don’t let your portfolio go below. For example, in your example of the two people that started out with a $500,000 portfolios, if they both set in their mind that they would not let their portfolio go below $300,000 then when the portfolio got close to that amount they would stop or severely slow down their withdrawls. Part of good retirement planning should include budget planning. You should have a variety of budgets planned for, a good year budget, a bad year budget, a bare bones budget. You also need to look at your fixed income and in the years going up to retirement work to maximize your fixed income as much as possible. Fixed income being things like Social Security and pensions ( a bare bones budget should allow you to live on fixed income only). Your portfolio should be considered Variable income and used like a “bonus” when you do take money out. Also have a buffer savings account, this is not an emergency fund, but to be used as supplement if the market is down, if you can’t take money from your portfolio. Part of the big problem is that people want to spend too much in retirement, they buy too many expensive cars, take too many expensive trips. It’s not an income problem, but an output problem. I’m 70, been retired since age 67, have two people living on my retirement, and am doing ok.
@sallyprzybil2404 11 ай бұрын
So the solution is that before you take your yearly withdrawal to check and see what percentage your account made ( or lost) the previous year then decide what it is safe to take out. For last year my portfolio returned 26%, so I assume an 8% withdraw for last year is ok. One of my investments, an Index fund, returned 35% over the last year, boy do I wish I had more in that one than I did! The premise of Dave’s 8% remark depends on the structure of each individuals portfolio. The big question is : is the portfolio structured for maximum gains, or not?
@luisdetomaso867 11 ай бұрын
Debt is how millionaires become billionaires. Wealthy people get wealthier by using other people's money. You guys clearly do not understand the basic concept of financial leverage
@nickjohnson3087 10 ай бұрын
Are most people becoming billionaires? No.
@amydecker6207 11 ай бұрын
Are your end of life expenses covered? Do the dividends from your investments cover your needs and then some? If the answers are Yes, then you have no specific news for life insurance.
@thedude5040 11 ай бұрын
Buy a 30 year term life policy when you get married. Then every month buy one "stock" of the sp500 in a brokerage account. At the end of 30 years you won't need a life insurance policy anymore. If you did things right, you can use that money to retire early and wait to access your 401k until you reach the right age.
@hamakaze1364 11 ай бұрын
That bit about the 8% is for that guys individual case. They corrected the misconception another tike, but that one case was because the guy was already quite old
@schadlarry 11 ай бұрын
Dave makes millions off the stupid.
@davidmmm8 11 ай бұрын
Davey is a swell fella. However he is wrong in that he only advocates with the US Stock Market. Its were his bread is buttered obviously. However he never advocates for commodities. Could be his downfall unfortunately.
@hopefilledfinancial 11 ай бұрын
Thank you for covering this call and a very important topic. I am hopeful that this call of mine leads to more productive conversations like this vs negative Dave bashing for bashing's sake. It is so important for us all to understand that unrealistic expectations with dangerous advice is not a way to understand or plan for our futures.
@photoman3579 11 ай бұрын
I ONLY CAME ON HERE TO SAY THAT I THINK YOU ARE WRONG TO FIND FAULT IN RAMSEY !
@lv4077 11 ай бұрын
I would kind of think there are a other variables that need to be known. How old is the person with the IRA? Are they in good health? Is there IRA the only savings they have? What is their total yearly expense compared to the IRA total? What is their life expectancy today?
@SSgtBigSwole 11 ай бұрын
12% is not a stretch at all. Don’t blame dave because you cant do enough research to pick good funds. It’s not that hard. And no you’re not going to get 12% every year but the average over your career will be at 12%. You’re just using his name for clickbait to get more views.
@ryancoo3968 9 ай бұрын
Market does 10, only 7% of people beat the market
@SSgtBigSwole 9 ай бұрын
@@ryancoo3968 Do enough research and you can be apart of that 7% you quoted. I made 46.44% last year. Best year i’ve ever had. All it takes is research.
@hwan88 4 ай бұрын
Google s&p yearly returns by year. Now assume $2 million at retirement for someone who retired in 2007. Withdrawing 8% per year leaves them with about $300k by 2015. It is not easy to beat the market over a long period. 97% of actively managed funds underperform the s&p over any 10 year period.
@neutralcommenter7800 11 ай бұрын
Dave Ramsey is great for your average American that is looking to right the ship and get started with saving/investing for their future - pay off your debts and invest in good managed funds. He is not necessarily the best expert in terms of the next level of expert investing.
@awsomo53 11 ай бұрын
Dave is great for people that have no idea what they are doing. He offers a valuable service to those who have no control.
@joelfenner9179 11 ай бұрын
Which is 95% of people.
@awsomo53 11 ай бұрын
@@joelfenner9179 exactly. I am thankful to grow up in a household that was excessively frugal (a bit more than we should've been). My dad made several hundred thousand a year and my folks still lived like they did when they grew up in working class families. We had a nice house in a great quiet neighborhood but that's about as far as it went. My folks hardly ever bought new vehicles. My dad has a 2014 F150 and will drive that for probably another 5 years. Mom has a 2016 Honda Accord base model they bought new for 21k. She'll drive that until it goes to my sister. We go on vacations annually but usually they aren't anything extreme. Never feel for middle class scams (Disney world, etc). Shop at discount grocery stores and Costco. Never bought new clothes, always went to discount stores or secondhand stores. I hated it growing up. Most everyone in my school had newer and nicer clothes (with parents who made significantly less) and had the latest and greatest tech. I didnt get my own cell phone until I was 18. Shared one with 3 siblings from 16 to 18. We lived well under our means. I've carried that onto adulthood. I want a similar quality life as my folks provided and will be as frugal as my folks were for good reason. Life is very expensive and there's no point in spending more than absolutely necessary. Generally you can get similar quality clothes at thrift stores. I got 3 pairs of Levi's at the local thrift store for $21. They would've cost me close to $200 if I had bought them new. They were practically new. Only thing I won't buy used are socks and briefs. Past that it's fair game.
@Srode1999 7 ай бұрын
Dave is horrible for.people that don't know what they're doing. What the fuck?
@KungPowEnterFist 11 ай бұрын
I agree, 12% annualized returns is not realistic and you have to account for taxes and fees. Also, the stock market performance we have seen over the last 30+ years was mostly through artificially low interest rates and endless money printing. National debt was ~$3T in 1990, where now it sits at ~$34T. By the end of 2024, we will be looking at nearly a 12x increase over the last 35 years. In order for you to get that 7.5% annualized return from the S&P over the next 35 years, the national debt would need to increase by 12x or more from here to there. That would be the end of the USD, folks.
@zonaken 11 ай бұрын
Not long ago, I watched a George Kamel video (one of Dave R. disciples) where he professed that using an 11% average annual return was OK for projections. I commented, "Is presuming an 11% annual return on investment over a 25-year period realistic or is that myth # 6???" I was totally roasted in the replies to my comment! From my observations, it seems that every 7-years or so, vast chunks of moneys evaporate due to "market corrections", dropping that "average annual return" well below the rates professed by many financial advisors' recommendations. As a retiree, I am constantly amazed how the vast majority of investment professionals provide bad advice, or as you say, present "unrealistic expectations" for average investors. And before all of you internet trolls roast me again, I will just say that I'm not an investment professional, merely an old fart ACTUALLY living off of his methodical yet realistically projected retirement income, and not some currently employed Investment Professional or KZbin professor, regurgitating unrealistic internet myths... Thank you for stating the truth here. Zk
@tonyb8730 11 ай бұрын
Dave talks about averages. 12% is not a stretch in mutual funds. There are dozens averaging over 10%. These guys are chopping up Dave’s words.
@McRedneck 11 ай бұрын
he did say "over the last 80 years"
@jamesjanney1102 11 ай бұрын
Unfortunately these guys are spot on. Following Dave Ramsey's system changed my life and I would recommend it to anyone regardless, but the predictable, consistent 12% mutual funds he insist exist do not exist. I went to several ELPs and found one that claimed they found out exactly what mutual fund company Dave has (Capital Group - American Funds). Average returns (after fees - very important) across the board were around 8-9% across all mutual funds. Some where higher, some where lower, but it's all a guess. No one knows which one is going to be the best. 15% into retirement is still an optimal number to put into retirement. However, I would strategize with your FP and assume the 4% rule is a much safer measure of your retirement income if you want to ensure long-term stability of your nest egg and pass on a financial legacy to your children or institutions of choice.
@deborahgravett6148 11 ай бұрын
Dave assumes some common sense.