Ditch Debt Quickly so You Can Build Wealth Slowly | September 19, 2024

[@DelphineBarkley]

Good to have you back Dave! I've digested a plethora of personal finance oriented channels here on KZbin over the years and the only two that I can still stomach are you and Rachel. You give the very best and spot on advice and ask thought provoking and unbiased questions that help listeners like myself become better. More importantly, thank you for recommending Abby Joseph Cohen Services my investment portfolio with her has been quite sustaining

[@AliciaSalvadore]

It's really good to have him back. The vibe always seems off without him

[@erikmooree]

I know this FA, Abby Joseph Cohen Services but only by her reputation at Goldman Sachs; even though she's now involved in managing portfolios and providing investmnt guidance to clients. I have been trying to get in contact since I watched her interview on WSJ last month

[@RamseyAlaqel]

Great share! Out of curiosity, I searched Abby Joseph Cohen Services online, found her consulting page ranked at the top, and scheduled a call session. I've read many reviews about advisors, but none seem as impressive as hers.

[@DeTilmann]

​@MarineMaesterAbby Joseph Cohen Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's

[@DeTilmann]

The very first time we tried, we invested $7000 and after a week, we received $9500. That really helped us a lot to pay up our bills.

[@HashPhantom]

Multiple classic Dave phrases on the first call, this is gonna be a good one

[@kathleenharrell2724]

“Travel agent for guilt trips” lol

[@kathleenharrell2724]

Dave and Ken are a stellar hosting team.

[@pandafox12]

Selling your house instead of your $35k car is absurd

[@YouMissedBro]

Considering selling your home because of six figure debt while still eating McDonalds and Applebee's is even more absurd.

[@angelakyriacou]

Insane, change your life style and keep your home 😮

[@LordBass]

Stupid is as stupid does

[@RelentlessDjango]

Selling the house, then using the money to EAT OUT and ORDER DELIVERY to the new apartment while the new home owner enjoys the pool and solar panels, is hilarious! American and their spending problems!!!

[@amandakaake4275]

Hsa - there is an exception. For people like myself who have chronic illness and consistently take medication and have doctors appointments it’s better for us financially to use our hsa for those things since it’s pretax. It is not an emergency fund for us. We have to use it regularly.

[@chrissabin-cb6cz]

So happpy Dave is back .. the show is hard to watch without .. I feel like if u had a personality that got rich like Dave that would help him not being there

[@koribriggs]

I’m not sure that’s replaceable. I like all of the other hosts and they’re super well trained on the method but there’s something about Dave and his experience that allows him to answer questions differently. Oftentimes if the other hosts are faced with a more complex call they quickly wrap it up with a note to do xyz 👋. Dave digests the calls and reframes the question so the caller can answer their own question. It’s not a criticism, I’m just not sure they can actually replace the wisdom and thought process that made the brand.

[@bettedavis9261]

​@@koribriggsI agree. Dave's answers are definitely more thought filled and deliberate. The personalities tend to quickly say to do whichever baby steps the caller is on with little explanation.

[@teodoramb7503]

I am watching the show from Romania, Europe. The show is much better with Dave!

[@supersrpkinja]

Watching from Belgrade, Serbia and I find the advice useful and helpful even for us listeners who live outside the US. I own the home I live in, bought it for cash and I am looking to invest in another real estate also debt free, noooo mortgage. Never had a credit card and I never will. Thank you, Dave and Ken.

[@NaturalWifeyandMamaBear]

Go Quincie!!!! 👏 God bless. You’re awesome brother!

[@AndreaAllen-v6y]

Quincie is awesome!! Great job!!! He will be a millionaire in no time!❤️

[@NikiSibley]

Well done Quincie!!

[@katherinegregory4783]

I think she should start the grant writing as a side hustle and grow it into a full time work from home job

[@Lovingmylife24]

People where I am are paying astronomical prices for solar panels. I have heard of sellers asking potential buyers to take on the existing debt for the panels. The thing that gets me is, you are just replacing your electric bill for the solar panel payment, so how much are you really saving by getting them.

[@babydollkincaid4584]

Why dose people always think that they need to live by family? Family can hold you back sometimes for what's best for you. You're an adult.

[@BBD0984]

Because for the majority of people, family is important.

[@117swordsmen]

​@@BBD0984But it can cause problems. I know a woman in her 30s, doesn't have a car or license can't hold down a good job...and honestly doesn't have to because her family just drive her around and buy her stuff. She's essentially a woman child because she never got away from family.

[@brooksd-lg9lg]

Family can be a great support system especially if you’re married with kids.

[@celestegranell8766]

I need to be close to family. I have 3 kids. They are a great support system.

[@DonaldRedeemed]

It can be, but any good thing can be a bad thing if done poorly or for wrong reasons ​@@117swordsmen

[@CormacADoyle]

When -- due to chronic illness -- you will ALWAYS hit your max deductible every year, you should fund your HSA to the max deductible/max out of pocket since you are alerady going to spend it, and the HSA is triple tax advantaged. In this case it is NOT "saving" - the money is already spent; it's not even an "emergency" ... it is as critical as FOOD

[@DonaldRedeemed]

Yes, if I didn't qualify for Medicaid; I would put a lot into the FSA at work. My Leukemia would burn through max deductibles in first quarter.

[@allthingsjonda5760]

I don’t agree with cutting emotional ties with your family. But 100 percent financial ties.

[@billpierce1788]

Sacrifice, not emotional ties equates to success

[@cristianca889]

​@@billpierce1788 your success is nothing if you have no relationship with your family...your just a man with money

[@ghostriley1855]

Me too but those two correlate with each other

[@billpierce1788]

@@ghostriley1855 I’m simply stating sacrifice is an important part of success. You have to do whatever it takes which mean physical separation from loved ones.

[@ThemommaBear195]

Depends how damaging to you the relationship is. A cheating abusive spouse for instance…

[@slashdash5279]

Love Quincey’s story

[@mikekenner9218]

Best podcast on!

[@oneleaftogrow]

There are a ton of remote Grant Writing jobs. She should start there. The hours would be more flexible.

[@brucedickinson8678]

Great focused advice.

[@dwjackson5422]

That lady who wants to start a business when she already has a job, she can do the business on the side until she builds her customers.

[@jaynette2011]

He’ll be a Ramsey personality one day

[@Demonizar]

Gotta say, Ken is a favourite with Dave, something about the generation gap makes them seem more connected without a word spoken if you catch my drift

[@NMelter]

Dave is great with personalities that have a specialty of their own, like Ken and John.

[@Demonizar]

@@NMelter absolutely 💯

[@nursenellfa]

"Your husband needs to go to Walmart and pick up a backbone on aisle 3" 💀💀💀💀💀 "She sounds like a travel agent for guilt trips" 💀💀💀💀💀💀💀

[@thomaspablo7835]

I would address this to Dave but I know he’s got bigger fish to fry. So leaving it to the comment section for the advice. Average home price in my area is a very conservative $600k. 20% down is $120k. And the monthly payment for a 15 year fixed with interest of 7% is $4,300. That’s an annual take home pay of $206,000. Close to $300,000 gross income. Let’s assume I am debt free. That’s still an absurd amount of money. By the time I would be able to save up for that. The market would be LONG Changed and I’m just not sure what to do at this point.

[@davidteovogel3482]

It's a good question, I hope someone can provide a good answer. Best of luck! 👍

[@benoitpissardo4997]

If possible do like me Flee the cities If you buy a house as awesome as the one you had your eyes on in your area for say 200k less (or more) in a slighly more rural area, you just MADE 200k People are ready to lose hundred of thousand just to stay where they know

[@Malko_pile]

We had a similar dilemma. We moved. It’s so much easier to accumulate now, before we could barely save. Worth it.

[@jsteel_]

You can do a 30 year with less of a down payment, then pay it down with what you can. Once you owe 80% or less of the home's current value then get the PMI removed. Being married with both adults working is a must in expensive areas unfortunately. You can also consider a condo for 2-3 years but do lots of research on the HOA and go through all their meeting minutes.

[@Rick-of6gx]

Lol he would tell you to go deliver some pizzas, get more money!

[@julieo330]

You can not make $25 at Target, at least not in most cities. I really like this show but feel they are somewhat out of touch with the wages and a few other things.

[@phyllisgregerson9588]

Hey guys!

[@davidteovogel3482]

hi

[@NMelter]

@@davidteovogel3482lol!

[@Trustbutverify2651]

Nicole - Why does the husband have a card with his mother to oversee what is going on? Why isn't his wife overseeing what is going on? The husband can close that card down - she will need to get her own. And if your husband's name is on the card, it's your debt, too.

[@deb9806]

A lot wasn't presented then, was his mom healthy, did she have issues? Doesn't matter, shouldn't have a joint card, but they assumed why.

[@allthingsjonda5760]

I am

[@Joce123]

If you guys were such good friends for such a long long time...Why are your children not ditch diggers and plumbers??

[@aroncarvajal7080]

I agree with Dave on most financial stuff family advice not so much he could be cruel and on your death bed 🛏️ is not how much you got but what you did for others.

[@moneywithjustliving5258]

Ken needs a new hairstyle. It looks greezy!

[@TMPS93]

Matches his Saul Goodman-esque personality.

[@Trustbutverify2651]

No - he needs to be HIMSELF, like we all should be, and enjoy any hairstyle he chooses. One aspect of his personality I admire is that he does NOT try to follow trends or be anyone but himself. He speaks out when he disagrees and is transparent about both his strengths and weaknesses - a refreshing change in this world when everyone is trying to "follow" someone else.

[@GApeech08]

He could work on the fake smile, too.

[@2dodger2]

It’s not the emotional cord that needs to be cut. It’s the financial dependence between parents and their children. The boy is now married. He needs to cut credit card dependency with his mother. That does not mean that the boy and his wife cannot gift money to their parents if they have extra money and the married couple want to give. But a shared credit card both people are completely responsible for is a form kid slavery between parents and child. The son is now enslaving his wife and child

[@deb9806]

Ken in response to Dave's "nothing but dates worked here, re references..."that's good to know". Hmmm thinking ahead?

[@reneebrown8943]

I'm glad Dave had a pleasant vacation. But, I'm more glad that he's back. I only truly benefit from the show when Dave and/or Rachel host. The others go off on tangents and waste valuable time when they could be taking more calls. They fool around too much. When the cat is away, the mice will play. I hope Mr. Ramsey realizes this. WELCOME BACK DAVE !!!

[@MONI-bj1ms]

Dave fully supports his team

[@reneebrown8943]

I believe that dave supports his team and the others beside him and Rachel do give good advice, but the others waste time with their tangents. That is my opinion.​@@MONI-bj1ms

[@nathansmith8183]

It’s interesting how Dave tells people he is doing “Better than I deserve” when the whole premise of his show and worldview is that everyone gets exactly what they deserve.

[@GApeech08]

Huh???? One gets exactly what he or she deserves when it comes to carrying debt. The borrower is slave to the lender. - Proverbs 22:7 Dave's greeting has NOTHING to do with that. He is doing better than he deserves because he realizes and acknowledges that, in spite of his sin, he is saved by grace. -Ephesians 2:8-9

[@nathansmith8183]

@@GApeech08 It's funny how a special niche is carved out for money like that where grace doesn't apply. "Your sins are forgiven, but not your debts." Funny thing is Dave's teaching is even less gracious than that, as debt is an object of shame and therefore debtors are bad people or dumb. As for Dave, he's a good person because he pays cash. He is also apparently sinless at work too because he only ever talks about disciplining and firing his subordinates. He also appears to be sin-free in his private life too because after all, he teaches we should discard anyone in our lives who gets in the way of our path to success, so presumably he's squeaky clean on that count too. Step back and take the whole thing in aggregate and you'll see where I'm coming from.

[@mattlaeff724]

Ken says the same exact thing, over and over, call after call. Zero wisdom or expertise.

[@alinrusu678]

It’s the words are wise, why change them?😊