David Bach's 7 Places Your Money Needs To Go Automatically

[@allensagalla1579]

1. retirement plan 2. checking account 3. emergency account 4. dream account 5. credit card bills 6. regular bills 7. charity Thanks for uploading :-)

[@sally5017]

Allen Sagalla o

[@UltimateTexasHoldemGuru]

Hopefully not that order

[@Ruth-vb3sx]

@@UltimateTexasHoldemGuru I agree with u, Math Guru. It's easy for Mr. Bach with his money. I asked myself, "Is Mr. Bach ACTUALLY GIVING 90% of HIS INCOME/WEALTH TO CHARITY?" Just a question. (Household necessities expenses at the lower end of spectrum. I don't agree with). I personally think each person should weigh their basic necessities responsibilities & go from there. Have a blessed day as God leads each in making SOUND DECISIONS.

[@rajm5643]

In my opinion number 6 should be at 3 and so on.. And number 7 is optional..

[@allensagalla1579]

@Malia Tapa Tapai Ao Kihe Hau You're welcome :-)

[@modelworkzseo]

I have no debt at all. Over 2 years saved up in savings and now building my long term dividend stock investments by living in a much cheaper place to live(geographic arbitrage) to retire early. Feels so much better than when I had maxed out my credit cards, had no savings and bought a new car right before losing my job. It's been a journey but worth the effort :D

[@tamara8669]

Thanks again, because of you I survived 🆔 theft in so many ways, I'm still a work in progress however, I have two 🏦 s now.

[@keithwalker7245]

Done. I have no debts. I like numbers. I budget and pay max into my Roth. I’m poor but I’ll be a millionaire in 12 years

[@Shivayaprince-shivaay]

Omnipotent Being how?

[@SunnyDoesLife]

Lucky 6 buy low, repair the house with a repair team then sell for market value

[@honkhogan21M]

Right, go ahead and send your money to wall street.....that money isn't really yours....doubtful it will be there in 12 years.

[@PedalToTheMetal61888]

...That''s about ...right ...is What i TOLD ..My HARDHEADED...Daughters..They Go OUT and BUY ...smartphones BUT DON""T DO ANYTHING ...smart with ..it ...Whaaatttt...!!?

[@PedalToTheMetal61888]

...That''s About ...Right i TELL My HARDHEADED Daughters this all The TIME..!!...all they wanna do is paint their fingers and toenails and take silly'- ass ...selfi-''s

[@dipaknadkarni62]

There are many ways to slice this and this what I would do which differs somewhat. 1. Definitely pay yourself first 2. Pay down debt. Largest interest rate first with minimum on the other CCs. Keep rolling from highest to lowest interest rates. In most cases will be paid off much earlier. You may want to cut up your credit cards at this point. 3. After debt paid off then see #1 above. Your Cc statement money now passes into your savings and then follow the 6 places to put your money. 4. You may want to have only one credit card for emergencies and pay it off every month. 5. Don’t get suckered by cash back. Remember the credit card interest rates if not paid off each month will eat away any bonus you might receive. If you pay off the card then the bonus will apply. 6. Never try to keep up with the Jones’ for all you know that are flat broke trying to keep up with the Smiths’ Good luck or should I say smart investing.

[@eileenwatt8283]

True, one thing he hasn't mentioned is to pay the mortgage weekly. Every January I pay the mortgage weekly for 12 weeks. I bang out one year mortgage and able to sleep knowing if I'm unable to work the rest of year my house is paid up. After the 12 weeks I then pay down the principal every month. Usually, I pay the full amount of what the mortgage company put towards the principal which is $500. If one has bonus use the bonus to pay the 12 weeks or take it from the dream account while continue to add to the account from your paycheck. The mortgage is paid off quicker and their is more money to save and invest the rest of the year.

[@kimpatani]

Hope this kind of lessons should be taught in schools.. Im so happy for myself I learned personal finance back in college and thank God I have started to set up my emergency fund and retirement acct right after I received my first paycheck..

[@priscillamoore5736]

@kimpatani6862 - Boy, I wish this stuff had been a required course in high school...Stupid me; I was all set to save 10% of my first paycheck, (VERY small paycheck, even though full-time job) & remember thinking "Oh, I can't afford that", so, I didn't save at all! A friend recently asked me, "Why didn't you save 5% or even 3%?"( Because by having an 'all or nothing' mentality, I never even *thought* of that!!) Sigh.

[@comachonia]

David Bach you have great advice! I first read your book Automatic Millionaire then decided to change my major to Accounting. Thank you for inspiring me!

[@Marco3star]

great template, I am using something similar for these last 3 months and out of nowhere I am finding extra money in my account where before I used to spend everything. Thank you

[@olivia1853]

God Bless you David!! This looks like something anyone could know since they are teenagers. Apparently most of us don't. Thank you so much for making a difference un women's life

[@MidCenturyMikey]

Great Video! Step #6 on those Regualr bills -have them charged to a credit card earning 2% cash back. Make sure all credit cards are paid iin full. If not, close them so you don't use them!

[@ParkerAntoine]

Here from the CNBC article recently - as a multi-property owner I appreciate the encouragement! Following rules and holding on tight

[@jj-bu6yb]

hey buddy, where ti start to be like you multi property owner? thanks

[@vcj8096]

You talked to me like the dad I don't have. #Passionately Thank you.

[@dorcel18]

Bro you just made it so simple then any other KZbin video on wealth. I love it man! I'ma use this knowledge 😊

[@BlakeC341]

Solid advice but a little too modest getting started. We paid off all debt as fast as possible, and then I invested 100% of my salary for a solid 12mo while we lived on my wife's salary so we could get a huge boost in retirement savings and now we invest 30%+ monthly and nearly max out all accounts.

[@KJ99ish]

One of my favorite financial coaches! Always great to hear words of wisdom from David Bach!

[@srilal6829]

I’m learning from your video. For up coming holiday season working extra jobs besides regular job I’m saving now I’ve solid idea. Everything mine is automatic but watching your video is worth

[@darlahkelley9800]

Great Information 👍 I've put to use. Became Debt Free 2022. Now Only use Debt Card.

[@emmafoster2158]

Thank you so much for this - my friend mentioned you yesterday and I have really valued your video and look forward to more

[@sheilatuano9633]

Thank you. Your idea inspires me. I will do that on my commission pay...although, my commission is small, I know it will grow bigger as my momentum is starting-up. I have also learned from the past about properly managing credit card, I was in deep debt because of it. Have gotten rid of them all because it do not serve me at the moment, I payed everything in cash now. I may consider getting at least only one credit card for convenience that cashless transactions can give when the time is right. As life's lesson learned and good money handling developed and became a habit, I may now consider myself reformed enough to use credit card to my advantage, and not to the credit card company's advantage.

[@jkay3262]

I'm really considering the giving out part. It something I have always thought of. Thanks for the rejuvenation!

[@soundstudio1010]

The best advice I got from David was, ' real estate does more then 10 times more better then those who rent '

[@GerardoJerryAscencio]

Heard you for the first time at the NAHREP at L'ATTITUDE National Conference and really loved your simple approach ! ! ! ! ! Automatic and painless......DO IT

[@Sixty9nine]

Your advice is great for people who are financially stable and have a decent income coming in. What if you're on minimum wages, have a family with kids, debt, mortgage/ rent, utilities and the list goes on... Half of what you said is not achievable until the debts are paid off or getting a second job.

[@eileenwatt8283]

I followed his advice when I was low wage earner. I paid myself first in my IRA..it is doable. You can pay bills and pay yourself 1st too at the same time.

[@kokiboki1965]

Good bless you David.. thank you

[@elizabethhurtado3737]

Wow excellent breakdown, thanks David.

[@DuncanMacLeodMovies]

The system works great; I learned it from your book many years ago. There's a missing piece. Discretionary expenses like gas, groceries, clothing... If we commit 5% to retirement, 5% to an emergency fund, and 90% to dreams, credit cards, regular bills etc then we go hungry. I have long wondered how to gauge when we are spending too much on discretionary expenses, and where they fall in terms of importance on your chart. Any thoughts?

[@arlenecruz6161]

Looking forward to the reply.

[@alrocky]

"If we commit 5% to retirement, 5% to an emergency fund, and 90%...then we go hungry." If you're going hungry then your spending is out of control. If you cannot completely pay off your Credit Cards in full every month then you're spending too much on discretionary purchases. The 5% toward retirement should be considered a minimum. Ideally you want to contribute at least to the company match and preferably 10% as a starting point. Maxing out your 401(k) at $18,000 every year should be a goal. You should max out a ROTH IRA @ $5,500 a year every year and let that double as your Emergency Fund (E.F.). If you can do those 3 things 1) +10% toward your 401(k) 2) ROTH IRA @ $5,500 3) pay off all Credit Cards in full every month, then you're starting on the right path. If you think that so-called "90%" figure he gave is some sort of hard rule, then ignore it. It is not some sort of license to spend willy nilly after you're covered the first 10%.

[@YouToobDragon]

Thank you Al! I just completed automating my bills. I now can clearly see my discretionary fund and track my spending. David Bach has already saved me money just by automating my bills. Most bill companies offer discounts on either paying automatically, or paying less frequently (if you can manage that). For instance, AAA offers monthly, quarterly, semi-annual or annual payment schedules. Each payment incurs a $7.00 handling fee. So, the less frequent you pay, the less you are charged the $7.00. Now, if you pay the full amount once a year, there is no fee! Also, by setting up auto-pay with AAA, the reduce the handling fee to $3.00! Now, I need to get my gym membership (annual bill) and Experian credit check service (monthly bill) automated. Experian can only use a credit or debit card, and I don't have one associated with my account for bills. I suppose I can get the card and just cut it up after using it to set up auto-pay.

[@rmcc6109]

Al Rocky you got it. I have done all of that. I'm out of debt. Saving 20% before taxes on 401k. And fully funding a Roth IRA every year, and saving for a two year emergency fund. The problem is that most people give priority to buying the last gadgets and not saving for their future. If everyone really took control of their expenses we wouldn't have the stress and problems we have. Being financially independent gives you choices and power to change your life to do what you like.

[@nanetteadams3873]

Thank you~ I've already received returns on your instructions 😊 😀 ☺

[@Sigmalennycareers]

I think the key here is results are not typical and every person case these techniques may not apply to. People who are married, kids, tax bracket, student loans, annual salary, and so fourth. This is for those who don’t necessarily have a lack of income problem, this is for those who have good income but lack financial management skills.

[@MrStretch03]

This would still apply but at a smaller scale. But the most important is to understand how you spend your money and how you can cut the losses. Another thing to do would be to create other sources of income (E. G passive income)

[@vaneciathompsonbrown5059]

You have taught me so much form your books and videos!!! Love it!!!!!

[@onewaytosavetheday]

Right as I started following this formula, COVID hit and I lost my job. Sure wish I had that emergency fund. Now that I have my job back, I'm growing it!

[@scf7334]

So glad you got your job back!! 🙂

[@polkmusic]

Some really great advice. I am already doing most of these things. Also, make a budget and stick to it. It has really helped me out.

[@rubyus7332]

This should be taught in school!

[@PedalToTheMetal61888]

...These silly Kids THINK ...mutual funds are something some one made up ...and ...ROTH/IRA...is a ...joke..

[@tanveerahmed6018]

@@PedalToTheMetal61888 Be educated man. If the market crash, it will jump back. Look at the past 100 years. you need all the companies in the US to go bankrupt to make your ROTH/IRA = 0 which is impossible. And hypothetically if all companies go bankrupt and their employees get laid off, Guess what????? Your real estate will go downhill as well.

[@RajuShikha-d1j]

Thank you David.

[@atifhusain1]

This is the first time i have watched a video such as this. Honestly we were taught financial literacy back in middle school / Jr High up untill the 80s. Not sure why they stopped. I have always done this with my monthly budget. And it should be common sense. But i guess that isnt so common anymore. The only thing is lack is the emergency and dream funds as i am more about giving to others. God helps those who help others and HE gives to those who give to others. Good information though. Much appreciated.

[@mariabarker2036]

So "god" is our emergency fund? I hope you've rethought that plan in the last 2 years...

[@sciencelabvideosl7558]

Hey Dave! May I ask where is the worksheet! I think you are an EXCELLENT and PASSIONATE teacher!

[@freedomring3022]

excellent advice ... but I'd recommend that you pay off all of your debt, other than your mortgage, before you start giving to charity. Just my take. Not saying you should not be charitable, but take care of your debt first.

[@StreamlinedInvesting]

It really is simple when you think about it David! I’m from the U.K. so a few things differ but the ideas remain the same, I try to help everyone I can work this out, and when they do it’s like a light bulb!

[@jimtempleton3234]

Wot to do at 50 on disability benefits??

[@pushpavaghela6499]

Hi David Bach thank you so much for your knowledge and wisdom around financial maintenance - i have already shared this video with others

[@RobCLynch]

It's a great concept and is bound to work without question. I've been doing something similar myself since 2004 and I'm excited about having a plan in place. However, one aspect that irks me is the fact that inflation has killed most people's incomes for the last twenty years and the majority of workers are working to simply pay bills. Just sayin.

[@1yk1965]

That is so true

[@GunjurDawahCenter]

Thanks so much my brother and friend in humanity i will start it now!

[@asterisk911]

The great thing about saying "have an emergency fund with X amount of expenses" is that a lot of what I "spend" each month isn't actually an "expense". So for example, I have private REIT income coming in each month that I use to buy ETF shares. For the foreseeable future, I'm committed to buying ETF shares with that money. But in the event that I ever needed to draw on an "emergency fund", then obviously I don't HAVE to buy new ETF shares; they're not an "expense".

[@RafaelMusni]

Sound Advice-I actually do this and it works!

[@rubyus7332]

Me too!

[@sylviacardona9815]

I love your books Thank you!! 🎉

[@victor_centeno]

I started using your method 3 years ago after reading ur book, I had nothing &, now I am debt free, 4 months in security account, 2 months for investing, 2 months for dreams, I am giving 2.5%, & no retirement account, but this works.

[@learnsomethingneweveryday1539]

well done. Your proving slowly but surely wins

[@nanetteadams3873]

Taking action 🎬 💪

[@MrRemomarti]

Absolutely worth it! Thanks David and hellos from Switzerland.

[@rachelgreen5100]

Thanks David I am reading your smart couples finish rich - its excellent - have just opened my stocks and shares account for our retirement with a direct debit going straight in there and am also going to open an account for my kids and start teaching them about how to work with their money

[@mando8222]

What a nice presentation! I really like your diagram

[@kylen6430]

If you have cc debt, that’s a good reason to only be doing minimum 401k match amount. Your cc debt, with such high rates, will compound more quickly than your funds in the 401k. Get that paid first

[@GrowingRupee]

Amazing. I loved this concept. personal finance automation.

[@allensagalla1579]

This is somewhat similar to the jar method of saving. Thanks for uploading :-)

[@lifeisgood070]

This video got me to buy the book. Just saying: good job!

[@JonathanDillonfds-fx]

Some people may not even earn enough to keep basic food and shelter to even start planning financially in this way. The first place your money should go after health and nutrition is towards development of your skills or knowledge to be able to earn more.

[@NWBIZGUY]

High interest debt should probably be #1. It’s tough to match the interest rate on a credit card

[@theresamcgallicher]

Pay yourself always has to come first. Otherwise you will never, ever, ever get ahead.

[@abraye92]

I agree with you. Depending on the amount of debt, it should at least come before funding a dream account.

[@Healthycooking-gl8oj]

Credit card bills is the number one preference to me always

[@delphineiracyadukunda4608]

Thank you so so much 🙏

[@Memoj1214]

David thank you so much. I will one day testify your words.

[@302drywall_painting]

Listening to this while I was sleeping was lovely

[@Queen19-91]

I'm trying so hard to get out debt (personal loans) so I can buy a home. Renting each day it feels like I'm just throwing away money. Homes are so expensive now though.

[@mariabarker2036]

What we're told is that because 401(k) choices and options are usually not as good and more expensive (high fees, etc.) as we can get with an IRA, to put in enough to get the company match, then to make certain we max out our IRAs, and THEN to focus on upping the company 401(k). Company 401(k)s are meant to benefit the company, not the employee. And most employees can not afford to max out 401(k) contributions. So to put our limited money to best use, 401(k) match percentage, Then max out the IRA, then up the 401(k) percentage. Not to only EVER put in the match percentage. I don't know that anyone has ever believed we stop at the match percentage, no matter what. Also, why is retirement first? Surely we should be making certain we can pay the rent this month? Our shelter costs need to be first.

[@hqtrades5027]

Great plan to handle personal finances. Thanks for sharing.

[@mcjakeizrael4053]

thank you for the knowledge sir have a good day.

[@AnhTuPhucDerrickHoangCanada]

If you got enough for all seven you are on easy street: alternatively you can create that situation by cutting out fluff. I like his books too.

[@drjing]

Hi David, I love your books! I read it so many years ago. Glad I found you in youtube!

[@gwenwhite8928]

I will do better. With these tips plan watch you again

[@kikinyte6806]

damn I feel like a sucker now that I think about pre savings....could have had 10k stacked already wow.....eye opener

[@shadowsden]

Is there a 2023 updated version of this video?

[@cnce145]

Amazingly simple . Thank you for sharing yr knowledge with us .

[@benyo4652]

First, I would like to say that this is great! I wish the tool for the worksheet was available. Hope you have the opportunity to correct that. All said, I appreciate the advise and hope that many use the lesson a way for financial independence.

[@franmpo1159]

Thank you. Much appreciated advice.

[@KristopherLamont]

I thoroughly enjoyed this presentation!

[@CommonSenseChrist]

I have a question for you, my city government job offers pensions for retirement. They switched over to a defined benefits plan and I’d like to know, is it still a pension? Or is it different? Can’t get a straight answer, thanks

[@raymetz4546]

I did all of these in about an hour. Thanks a ton David Bach! I'm a pro at juggling funds every month for 30 years, but now I'm free to be a pro at something new. How could I have been missing something so simple all these years?

[@sam_is_joy]

Thanks.

[@judeosaluhmeseodigie322]

Awesome 🌹

[@AndrewBryantBSE]

Unsure whether to do this system or Dave Ramseys system ? Trying to keep things simple

[@jessicaaraus8641]

Beautiful! thank you so much for these tips. I'll start a Dream and Emergency account asap.

[@brianharrigan5615]

Sound advice ..but paying more than the employer match into your qualified retirement account pre tax grows money for the government too...thats like signing an agreement with a partner who will never participate in your business, then decide how much they want to take when you retire and distribute income...and if you dont take it by age 70.5 because you dont need it, they force you to take distributions so they can get their piece....would you sign that agreement? Thats an IRA, 401k, etc.... Only do the match and park money elsewhere for tax diversification.....Roths, Indexed Cash Value Life Insurance, and Municipal bonds are worth investigating ....in addition to brokerage accounts youre taxed on each year

[@keykilee]

Never heard of you before today when you came Up in my KZbin feed I listened ,subscribed and was left with just 1 question which I d rather keep my personal business private and my comment here is anything but. Do you have any suggestions please? Thank you

[@ntangakayembe5987]

Very good

[@AubreeAnderson-nn8dz]

Read your book automatic millionaire 😊 changed my life and how. Think about investing just not saving . Pay my bills automatically

[@ItsLaShantell]

How can the debt owed be factored into this strategy? Savings are important but what’s the best way to incorporate paying off any debt owed?

[@MGCThaKing]

Great tips, just a side note, your voice sounds very similar to Gary Vanyerchuck’s. Have a good day!

[@LeannRiffle]

Yes! 👏 I was trying to think who he sounds like...Gary Vee!

[@kmjjcs]

Never pay minimum payment on your credit card! You might dodge the late fee but still get hit with interest fee. Don't spend more than what you can pay off the entire monthly bill and setup autopay to pay the bill in full.

[@kmjjcs]

@M M and miss out on all of the perks like getting free hotel, air travel, cash back and not to mention, have your credit go up and save on interest rate on your car+home loans?

[@brookemobley4152]

This is such great information; I try to get all my young colleagues to read The Automatic Millionaire. It kills me that I didn't start saving till after I was 40, and I want them to avoid making the same mistake. Please attach download. Thank you, Susan. p.s. Looking forward to 2.0 showing up on my Kindle tomorrow!

[@YouToobDragon]

Thank you eelamist89! Now, I just need to figure out how to edit it:)

[@amiliabogalho1398]

Hi I am a student soon to be working and I would like to know can banks set up a system where money goes into these sections in a cheque account automatically? ✨

[@lynnwanders110]

I just want u to let u know i practice what u preach.

[@renitaprimm2148]

What percentage should your dream acct be?

[@cutactiontake9]

Excellent

[@andrewb9595]

Neat video, turns out I already do all of this with some exceptions... I don't have a dream account because early retirement is my dream, so I funnel that money into my IRA/401K/HSA accounts. Also I automatically pay as many of my bills as possible with my credit card (that's right Dave Ramsey!) for cash back. Then the full balance of my credit card is automatically paid every month so I get no late fees or interest. By doing this I receive 2% cash back on about 95% of all my expenses. I like to think of it as countering inflation.

[@vigilant545]

Every kid should learn this as soon as possible. Think right from the get go and life will suck a lot less.

[@michaelsherron5750]

This message seems to be geared towards middle class income people who have been on their jobs for at least 10 years not the average American

[@et8893]

Love the ideas here but I would love for you to do this with live examples on a white board with the average earnings of a family and show HOW this plan can be achieved with a family. Average earners will struggle to follow the plan. I love the idea but it seems unrealistic for the average earning family. A single person YES, they can eat 2 minute noodles all day long but with a family it would be a struggle. AM I WRONG 🤔

[@supportdingdong9152]

hey david, thank you, really love your stuff, please keep doing

[@aaroncrumbley]

He has the same energy and voice of GaryVee. Love it. Where are the links though?

[@skcamper2986]

Hi David, I have a question. I am in ill health,on disability($650 a month),and I receive alimony.($600 a month) I want to start doing it your way. I know I can pay myself first.BUT! The problem is where do I put the savings,as disability will not allow disabled americans to have more than $2k in their savings or anywhere. Sounds UNFAIR to me as I am trying to better myself and save money for when I will be in a wheelchair soon. I have no credit cards,and I have 6k debt from the now defunct ITT Tech school,which I gained nothing from. I live a simple life,and I am NOT a shopper. So tell me, where would I put money that won't penalize me? I thank you for any replies! Sincerely, Susan

[@skcamper2986]

Automatically get direct deposit from both. I do not do bill pay because alimony sometimes does not come on time,like a week or 2 late depending on my ex's payroll woman.She can be nasty and wait till wed at 5pm to send the check to direct pay,which then takes 2 days to send it thru the courts.Depending on no weekends. I do not want to be overdrawn with bill pay.

[@skcamper2986]

I don't suppose I will get a reply here.

[@skcamper2986]

I am in a duplex sharing with my friend's mom.The rent takes most of my money.I have tried to get the fed loans discharged,but they told me I can't.I have had forebearances and now my only option is to get an IDR payment which is 0 each month but will be on my credit for 25 years. One loan is 3k one loan is 4k and the interest has piled up. They were 2k loans at the beginning. I had a heart attk and had to take a semester off back in 2011.The administrator assured me there is no penalties.When I went to return,they wanted 400 for admin fees,and hounded me for a credit card number. I never gave it to them. I have food stamps 100$ a month,and a free safelink phone for emergencies,but it drops calls.I believe the alimony stops when my ex husband is dead. I hate being on any gov assistance.Before all the health problems occurred,I was very strong and had a lot of physical jobs,mostly working outdoors.That led to RA and other problems. Now I am told that the president is going to lower the disability and cut out programs. I wish I was healthy again because it seems every time I go to the doctor,they find something else wrong.It sucks,but I am still getting through it.

[@rogergarcia7206]

SK camper Hi, get your loans consolidated with the U.S Department of Education this will boost your credit by at least 50 points then get into a Income Based Repayment Plan for New Borrowers. You will make payments based your income as low as $0 dollars per month and after 20 years your loams will be forgiven by the U.S. Department of Education under the Obama Care Act of 2010. But make sure you get them consolidation with the U.S. Department of Education.

[@notosure2148]

@@skcamper2986 Hello, I just read your story, hope you're doing well now. I too went through much of the same things. Disability, limited income, college not working after, and about 30k in student debt. My total income a month at the time was about 700, and rent took up half that. I started investing small, would slowly build up $2000 then spend it on something. I got a car, helped family with bills. I tried to think outside the box. I was able to get 30,000 of the loan forgiven through a program (literally for people on SSI). For you I would suggest doing an IBR, and then seeking Loan Forgiveness for Permanently disabled. The number one thing you should do after, is get a good credit score. I can't understate that enough. Be efficient and maximize every dollar. It's some rough times. Look into gigs you can do on a computer (Amazon's mTurk comes to mind) as you're allowed to make 60 dollars before it cuts into your disability. Something you possibly could do: Use your good credit, (760+) to take a mortgage on a super cheap 'fixer upper' - live in it if need be, every 2000 you save up, repair it more and more. Maybe over two years. Make a goal, and track it as best you can. Once it is paid off (property doesn't count against you as an "investment over 2000") consider hiring a property management company to rent it out for you. This income (minus the property management fee) might lose you your disability, but it's worth it, if it makes even a penny more, because then you're no longer stuck to rules that say you can't invest or keep your money. These are huge risks, but sometimes it's better than doing nothing at all. Always do lots of research before making a major decision or listening to random advise off the internet, but I wish you well, and hope you make it out of that disability wheelhouse too!

[@diamondgiselle3231]

Your awesome.

[@dilberta6046]

The trouble with autopay is it doesn't always stop when you request it to. Someone thinks you still owe them and you disagree? Could end up in court.

[@mariaguild2024]

Where do you find That chart that shows how much to save at what age?

[@thorlopez1790]

This formula is to stimulate the "middle class society" but America is either becoming poor or wealthy which a different formula established.