I'm 32, Should I Invest or Pay Off My House?

[@Eirikr430428]

Really appreciate the calls from people making actual money, not $200k+

[@mlovespring7892]

Yes...agreed!

[@Error-mx1jk]

Need more 36k-50k a year calls. We can all relate to around that amount

[@oblivion85]

For real

[@bryanreilly4117]

Depends where you are. My gf and I are 28 and 26 in no and combined we make 205k and she is set for promotion in July which should bump us up another 15k or so.

[@KillroyX99]

That's funny, I would not call it actual money until $200K+ LOL

[@Takar100]

There are some folks who would argue that he should invest, instead of paying off the house. But the simple truth of it is, he's not doing that and just holding cash. Why? Probably because he can't mentally get around investing while he has to pay the mortgage. If paying the mortgage off gets him to be more flexible with his money, then it's the best thing for him.

[@badmothertucker6579]

Good point!

[@TheMopar97]

I think financially it's the Smartest move too, but yes your comment was great. Paying off the house will have so many psychological benefits that will allow him to do better with his money.

[@johnhwang339]

Paying off the mortgage is a guaranteed saving the interest that will be owed if he did not pay it off. Investing in the stock market or mutual funds is not guaranteed return and could lose value. Then there is capital gains tax if he did make something.

[@CurtisSession]

I agree. I would invest 100k and continue to make the payments. The interest on the investment would be much greater than the interest that’s owed on the house. He’d never catch up to investing. Example. Invest 100k for 30 years at 10% interest a year and contribute just $150 a month to it he would have 2 million. But do what Dave said and start at zero and invest 9k a year for 30 years and same 10% interest and have 1.48 million. You lose out on 500k

[@praktycznyangielskionline]

Right to the point. Not everyone knows how to invest or doesn’t want to get into it as it’s not their cup of tea.

[@jeanpauljeanpaul2530]

I paid my house off at 43, and it freed up $3000 a month to invest every month. Best decision I ever made.

[@Imhere12345]

Would you do the same if it was only 1300 a month

[@mopillo88]

​@@Imhere12345 always

[@mannyjeanpierre4062]

Wow 60k salary and a paid for home at 34. He's in the top 10% and doesn't even know it

[@user-jy7yw5kw3w]

He just lives in Tennessee is all. Easy when there's hardly any property tax, no income tax, and you can get a nice house for not much more than 100k lol I'm thinking about moving there myself.

[@devoywilliams3956]

@@user-jy7yw5kw3w texas probably better bet.

[@user-jy7yw5kw3w]

@@devoywilliams3956 too hot, and property taxes too high for my taste.

[@averagejoe9249]

Sad part about people moving in to Tennessee from other areas actually believe raising property taxes are in order. It's unreal

[@diannathornton2911]

@@user-jy7yw5kw3w come to Arkansas. My property taxes are only $700.00/year! My nice house is paid off. It's wonderful.

[@koolandblue]

I’m on pace to pay off my 15 year mortgage 10 years early. By early 2022 I will be completely, utterly free of all my debt including the mortgage. I love seeing that remaining principal amount and interest paid number get smaller and smaller every month. Can’t wait to kick the bank out of my house!

[@ryanthepianoman27]

Your rich!

[@TheWildmanner1]

Yo!!! I want an update. Did you pay it off bro?

[@tannercc]

Did you pay it off???

[@AndrewDaniele87]

3rd person here asking, did you pay it off???

[@martyhen]

Dave contradicts Dave. Dave says a good mutual fund pays 12% a year but you should instead get 3% by paying off the mortgage. Over 30 years Dave is preventing a ton of wealth creation.

[@dogan6070]

Did the caller say he's 34 years old. He sounds like he's 70. Just wondering

[@seanfatzinger]

He said he's 34, while the video title says he's 32. His wife was 32 and she wasn't on the call.

[@aliciahunt2608]

As a 32 year old...yeah I thought he was over 50 based off his voice.

[@costco_pizza]

@@aliciahunt2608 Looks like there was a typo in the video graphics. The caller is 62.

[@michellekulas282]

@@costco_pizza he said he’s 34

[@lilblizake]

He’s 42, the phone call adds 10 years

[@CaseyBurnsInvesting]

The math says you should invest however, your mental health is worth something. Paying off your house can be a huge thing as far as freeing your mind and finances up to growth opportunities.

[@Lolatyou332]

This guy should not invest, simply because he doesn't know what he's doing. Having 100k in a bank account is a big red flag to me and tells me they need a financial advisor before investing any of that money. He's better off paying off the house and then investing IMO, he's going to be behind what he could have if he invested it all, but he has less of a chance of destroying his finances by poor investing decisions.

[@SchroederSport]

You down here in the comments of all the videos I watch.

[@ClaxtonBay123]

@@SchroederSport Well he does have his own page to promote

[@johndone8045]

Only death will free up the mind, theres never peace, theres only temporary treatment, no cure

[@Lolatyou332]

@@johndone8045 creep

[@realtor341]

This guy just went through all of his baby steps in 1 call. Well done!

[@VegaGT500]

I knew IT! I knew Mr. Dave was going to change Rachael’s response to the caller.

[@dryster123]

I was surprised at her response, I knew Mr.Ramsey would say pay off the house.

[@stephanier1336]

Paying off houses feels so good! I know I have done it twice!!! I am 31! Thanks dave and rachel and of course the Good Lord!!

[@jacobo9611]

Nice, I did it at 33.. wish I did it even sooner

[@jeffjohnson3620]

Wow, Two homes paid off by 31. Great job!

[@davegowie6237]

Damn I'm 33 and haven't 😢

[@darthenx2585]

Everything was relatable to me until he mentioned he had 100k saved up. Lol

[@Aboite81]

Lol

[@ImTaylorGang]

I mean it's easy to have that amount if you're 32 and literally never invested anything. He should have started a roth IRA and his 401k years ago and his net worth would be double. Keeping that much in savings is a rookie mistake.

[@benb3799]

@@ImTaylorGang massive mistake by have that much cash uninvested on hand

[@memes4life231]

@@ImTaylorGang jealous much😂😂

[@ImTaylorGang]

@@memes4life231 no, I have more thanks to beginning my long term investments at 23 when I kicked off my career. not sure you read my comment correctly.

[@livedeliciously]

I wish I had paid attention to channels like this when I was younger. This channel is really helpful.

[@thirstingknowledge]

And I am 59 now. owe 70k to house, saved a little money in bank and no other investments and retirements. I wish I had advice and come across him earlier.

[@mynameisneb]

Just pay off the house already and immediately start a Roth IRA, now if I could just figure out how to have 100,000 laying around

[@gregorypeterson9]

Thank you!!

[@marktheshark2569]

Wrong answer you invest the lump sum and it sets you up nicely

[@lionelhuts875]

Dave for getting out of debt. The Money Guy for building wealth.

[@harisadu8998]

Mathematically, Dave's snowball method isn't best. It is only for psychology.

[@vin1882]

The Money Guy?

[@BeerStearns]

@@harisadu8998 Dave acknowledges how the math works out. But he believes the psychology matters because it will encourage you and you will be more likely to succeed. He advocates a plan that is easy for many people to follow, but not mathematically ideal in a risk neutral scenario.

[@willelfakir]

Dave if you can't stay out of debt. The money guy if you can.

[@ryanshroyer5146]

MONEY GUY SHOW IS THE BEST 🦾🦾🦾🦾

[@nkyryry]

Why do people call in with questions like this? Dave is NEVER going to suggest building wealth while having debt. Never. It’s not his formula.

[@ClaxtonBay123]

People call for Advice. That's why he called.

[@seanfatzinger]

That's because he's all about security. A mortgage loan is the cheapest money you'll ever borrow, and with an average return of 10% in the stock market, you are better off investing. It's not a money thing for Dave, its about security. There is tremendous security in not having a mortgage, which is why Dave always says to pay it off early.

[@TheTurdballs420]

@@seanfatzinger there is that and the fact that Dave knows he has to dumb down his program to the lowest common denominator.

[@LG123ABC]

@@seanfatzinger It's about managing risk. Paying off your mortgage is a GUARANTEED 3% return. There are no guarantees with the stock market. Yeah, it might go up -- but it might go down too.

[@matthewgardner2144]

It's a great *feeling* to pay off your house. But smarter people are not ruled by emotions and feelings. They know how to do math and math tells you not to forgo retirement savings in favor of a low interest home mortgage.

[@brandonrishel]

Mortgage rates are at all time lows, it is not the best move to pay off a house right now instead of investing that money. I understand the debt free mindset, however, interest rates are too cheap to be paying off any mortgages right now. Regardless, congrats on being in a position to do so

[@kartboarder22g17]

Yep he should have contacted me $80k earlier, lol. What a waste of potential.

[@kartboarder22g17]

Also should capture a low rate through refinance if he hasn't already.

[@lukem5962]

407k mortgage at 2.82%. Invest or pay off the house?

[@kartboarder22g17]

@@lukem5962 invest.

[@Alwaysbeclosing1774]

@@kartboarder22g17 invest in what though.

[@carieyounginsurance]

Agree with Rachel’s advice...I would not just pay completely off my house with no investments...a dollar today is worth so much more tomorrow especially now. He can definitely do both and get both accomplished eventually...!

[@lilblizake]

Prior to caller, Dave looked at Rachel and said “how bout you take this next one, sport?” Rachel then gives advice which Dave butts in and contradicts LOL CLASSIC DAVE

[@Scott-nj9gq]

I was shocked by her response. The guy has 100k and owes 80k. And the guy and his wife are working. Pay the house off and invest every dime going forward. You don't need to be a financial "expert" to figure this one out.

[@prettymsdance]

@@Scott-nj9gq 100% agree with you. I was highly surprised with her advice. That just shows that you don’t always act or think the way you were raised. But I do remember her saying she has a spender type of personality. The baby steps clearly say to get out of debt before investing. The house is debt haha.

[@prettymsdance]

@@Scott-nj9gq I know baby step 2 says “except the house”, but in this man’s case, he can afford it and still have 20k left over. He should definitely get out of his debt because he’d still be well off, not dirt poor again.

[@diannathornton2911]

He said that's good advice but let me tell you what you should do.....lololol

[@docoftheworld]

Her advice is better : the longer the money is in the market, it will beat any interest in mortgage. Its sad that he gives such advice that is really shortsighted

[@Je.rone_]

On average one would expect in say 20 years he'd be wealthy having had invested the money, but in the shorter term it may prove otherwise

[@Dpaq13]

as long as the caller doesn't consume the money, investing or paying down debt will result in more wealth for him.

[@Winston0Boogie]

Black vito!! Millennial money! Hope all is well bud

[@jovandraganescu1406]

Yea or a year or so holding the right cryptocurrencies. Then moving it to something with lower risk like mutual funds.

[@BrendanEvan]

He’s got a lot of good options because he’s made some good, difficult decisions up to this point!

[@InvestToLive]

You are so right!

[@einstein1102]

Yeah. In your case, I'd pay off the house today like Dave said and then start funding your retirements like it's on steroids. You still have 30+ years to invest. Just don't forget to do something fun and enjoy life along the way.

[@InvestToLive]

Great point!

[@pasuchu7948]

Would you do just 15% or more?

[@investorclarity]

30 years to invest, becomes the default justification to delay investing. But life is mortal. People die. Our goal while alive should be to get as much unearned income as possible, as fast as possible. A secondary goal is property ownership. Financial freedom is a much higher priority, than owning a residence.

[@investorclarity]

@Jarod Armstrong Agreed!Renting allows flexibility to move for higher wages. When we no longer need earned income, and we want to stop traveling, then we buy.

[@milkyfunnysnoopy]

15% for retirement, is that before tax or after tax? Sound like a lot to me

[@Wongo150]

Dave’s exactly right. Not having any debt payments gives you a lot of room to use for investing and saving. Good advice Dave!

[@InvestToLive]

I always like to think of it as, what is my price of freedom(from debt or anything else)!

[@seanfatzinger]

Depends on your goals. A mortgage loan is the cheapest money you'll ever borrow, and with an average return of 10% in the stock market, you are better off investing. It's not a money thing for Dave, its about security. There is tremendous security in not having a mortgage, which is why Dave always says to pay it off early.

[@nic_ccc3366]

Dave advises people to pay off the mortgage because of the emotional peace it gives people, not because it’s the best investment strategy. There’s a huge difference if this guy invests 100k now compared to only 20k (if he pays off his mortgage), and that will likely be several hundred thousand dollars difference in 30yrs when he retires.

[@HandfulOfTranquility]

Putting that money into maxing 401ks and IRAs also gives a lot of room to invest.... I'd lean towards maxing out the retirement post-tax (absolute max of paycheck allowed going into 401k) and drawing living expenses from the savings, maxing both Roth IRAs from the savings, if you are close to end of the year doing that again at the beginning of that year, then taking anything lwft above 15k or so and putting it towards the house. Then do 15% into retirement while paying off the house ASAP, but I'd get as much of that money into retirement as quick as possible. Had they done that originally instead of 100k in the bank they would have 15k in the bank and 150-200k in retirement (if it was invested of coursel. Then again, if it was invested instead of in the bank they'd have about the same outside the IRA. Listed kids, saving is good to a point, but INVESTING is what will let you retire or become rich. Its difficult to save your way into wealth. Not impossible, but difficult. Its easy to invest your way to wealth, especially if you start in your early 20s. Even $400 a year turns into 200k or so by age 70. Strive for an absolute minimum of 1-2k a year with 5k a year being better. Donthat from age 21-35 and your retirement will be great (so long as you dont do something dumb like pull it out or keep it all in "safe" funds the whole time).

[@InvestToLive]

@@seanfatzinger Agree totally with your point.

[@wtDrake]

Paying off a house must feel like paying a car off but X10 better

[@markg999]

True that, feels so freeing.

[@alexisidro]

Paid mg car off a couple if months ago. Feels nice to not have that payment anymore! 💯

[@Lolatyou332]

I just buy cars cash because they depreciate and it's not worth spending much of my net worth on a car.

[@cecilleflowerfarm]

And when you learn how to fix it on your own car and house it’s X1000 better!

[@InvestToLive]

@@cecilleflowerfarm 100%!

[@appleforever6664]

Paying off the house will give you a sense of financial freedom and peace!

[@superblump87]

Only a "sense", though. Math doesn't lie.

[@Jelly._.cat._.1]

@@superblump87 fluctuation doesn’t either

[@jimroscovius]

@@superblump87 Neither does risk.

[@matt_h_27]

Doesn’t matter. This kid can do both, sounds like. You can’t invest more than 6k/year in an IRA anyway. Pay off the house. Start investing as early as possible. Pay off the house and look for other investment avenues if you have all that extra disposable income.

[@dominick6131]

@@jimroscovius there is zero risk if you invest in index fund. you could only lose your money if you invest in individual companies

[@Santaheckler]

I sorta think the college savings is outdated or soon to be outdated advice. I mean, go ahead and save but don’t get it wrapped up in accounts that force you to use it on college. Studies would likely show that kids who have their college paid for don’t know much about the cost vs return of things.

[@jamieplays3552]

Depends. I wasn’t told my college was going to be paid (through a 529) for until I’d already looked and applied to colleges so I still picked a smart major and school that wasn’t extremely expensive.

[@LG123ABC]

Unfortunately, starting back in the 1980's, we were all fed the idea that if you didn't get a college degree you were doomed to be a loser. At least that's what they were pushing in my High School.

[@marktheshark2569]

You can make the choice whether you want to save for your kids college that’s up to you. But here’s why a 529 is good. If they go to college you get growth money tax free and can use it. Even if they don’t go to college all it is is you have to pay some taxes on it just like other stuff or you can not withdraw and let them have it for their kids or somebody else in your family

[@jarrettpierce5626]

Math: you'll have more money if you invest it Emotional: you'll have more peace of mind if you pay it off

[@CallMeSlavik]

Thanks for putting it that way. I needed to see this comment. All my friends are investing and it’s tempting to do the same. But I want to be the only one who doesn’t owe anybody while risking money.

[@Alwaysbeclosing1774]

Math ; you may also have less money if you invest it. Not every stock investment pays off. Only on youtube it appears nobody losses anything while investing.

[@marktheshark2569]

@@Alwaysbeclosing1774 that’s if you do some single stocks or sell early. If you invest for the long term in something like a S&P 500 index fund as long as you hold it for the long term you can lose.

[@TheFirstRealChewy]

@@Alwaysbeclosing1774 Yes, you could lose money. Its what stops many people from investing. Yet somehow many business take out loans everyday to expand their business and make more money. Yes there is a risk, but there is also a reward. You have to decide whether you are comfortable with the risk. Those who end up succeeding are the ones you see on KZbin saying they did what everyone else didn't do. You could lose a lot, but you could also gain a lot. I'm currently taking risks right now. I've watched my investments lose money since the start of the year. However, I haven't had to sell any of them so I technically haven't lost anything as yet. I'm also still investing despite the losses.

[@dryster123]

Math : think of a number Emotional : Sleep at night in your own home

[@tekonethemc]

Both great advice. Initially I was thinking pay off the house too. he’ll be free to build wealth quickly with no ball and chain called debt.

[@TheMopar97]

Agree. To me it’s a no brainer, why put 15% towards retirement and kick the can (mortgage) down the road for 5 more years, when you can pay it off today and invest 30%+++ in retirement starting next paycheck! No brainer

[@alexr3950]

Well compounding growth in your early 30s would create more wealth in the long run by using that 80k, however from a peace perspective a paid for home is amazing.

[@hipstergod]

@@alexr3950 exactly I agree with her more than dave, its more upfront but longterm you're losing out

[@seanfatzinger]

Depends on your goals. A mortgage loan is the cheapest money you'll ever borrow, and with an average return of 10% in the stock market, you are better off investing. It's not a money thing for Dave, its about security. There is tremendous security in not having a mortgage, which is why Dave always says to pay it off early.

[@thomasorchard]

@@seanfatzinger The way a mortgage is amortized makes it a terrible deal for the borrower, regardless of the low interest rate. I'd payoff the house immediately if I were in this caller's position.

[@kieranbrown7267]

never been this early but love this show, from the UK, hope everyone is well on the other side of the pond.

[@trailrunnah8886]

It's not. Our country is pretty much falling apart, but thank you for the well wishes! You stay healthy over there.

[@johnrandom3903]

@@trailrunnah8886 Once you turn off the news, things aren’t so bad

[@superblump87]

Things will start to get much better on January 20th! Thanks for the well wishes.

[@ezyryder11]

Times are tough on both sides of the pond, but I think our countries have been through worse. Wishing you well in the UK!

[@ilikethatboulder.thatisani5496]

@@johnrandom3903 Our economy doesn't get better because you close your eyes. You're what's wrong with America.

[@robmckee5295]

Paid off my primary residence in 2016. No regrets so far.

[@randymorrison1761]

If you took that same amount and invested in amazon in 2016..... Kidding. Good job!

[@narutovskiba88]

@@randymorrison1761 exactly. but your know 90% of American people are focused on paying debt off

[@patty109109]

@@narutovskiba88 seems to me a good half of America doesn’t seem to care about debt at all.

[@MyLifeThai371]

I saved up and paid cash for my house(lived at home and worked as much overtime as possible and saved like crazy). Best decision I ever made for building wealth. I hate being at the mercy of landlords raising the rent whenever they feel like it.

[@mukoroelohor6722]

Great ideas don't even trade without investing with an experience expert or.. Signing up for mentorship

[@walterkaminski4861]

You're right sir trading without an expert or mentorship blow your entire account off

[@marktheshark2569]

How old are you

[@TheFirstRealChewy]

We bought because we wanted a place of our own and also because of yearly rent increases. We should have bought sooner.

[@krystalchristensen3555]

One thing I find it is interesting is how people don't talk about some of the reasons to pay off your house early. I don't even hear Dave Ramsey talk about how paying off your house really saves you a huge amount of interest. why don't people talk about that? Especially if you have the cash to pay it off in full. Which I have heard several callers say they would be able to do. to me it's just a no-brainer. Not only does this caller have the opportunity to be able to pay off their house in full. But they still have 20,000+and savings after that is done. The peace of mind of having your house paid off is worth every effort to get it done early. I know. I've done it.

[@tjones2550]

He has talked about it in past videos.

[@marktheshark2569]

He would make more investing the 100k

[@dion6853]

I'm 34 and just paid off my house in January. It feels good. A whole lot of hard work but it was worth it....

[@ComixMultiplication]

Do you ever second guess it?

[@anthonyplaysbass]

im 31, mrs is 32 from Melbourne AUS. Will have our 480k mortgage paid off by start/early 2027. We took out the loan end of 2019. We are not investing until that time, possibly never. Our first priority was always to pay off our house as soon as possible - second hand fully paid cars, no international holidays etc until then. Don't invest when you're so close. The best feeling on the planet is owning your own home fully, and not being a slave to the big banks, and we are so close i can feel it.

[@subzeroarctics1299]

Rachel is right. Dave says people aren't mad about paying their house off early, but people would be mad if they realized how much time value they lost by not investing in their retirement just to pay off their amortized house early.

[@roya8683]

What is your Net Worth Subzero?

[@ryankeels4661]

Why pay off the house when he is likely paying 3-4% interest on it and can put the 100K into a mutual fund and earn 6-7% on it? All that interest on top is extra earnings... a ten year analysis would show him having a higher net worth in the situation I mentioned.

[@TY-vj3ou]

She will guide you on your trading or invest with her ...(...3...1...0...)...5...1...3...4...8...4...1..(.. +.. 1..) Do well to tell her i referred you. She's my expert....

[@eatpigsnot]

KZbin search "Dave Ramsey why pay off debt if i can invest at a higher rate" and really LISTEN to those clips

[@sanguebombjjbama1751]

Glad he jumped in because his clarity to the customer was needed.

[@TheTurdballs420]

You can easily find a 15 year mortgage for 2% these days. Over 15 years the S&P500 has NEVER returned less than 2%....NEVER! On average the S&P 500 will return 12% with dividends reinvested over 15 years. 12% -2% is a 10% spread. $80,000 compounded at 10% over 15 years is $356,000 minus the $80,000 that’s a $276,000 profit!! People don’t get mad about paying off their house because they are not smart enough to do math and don’t realize they lost $256,000 paying off their mortgage. 🤷🏻‍♂️

[@mizan1030]

Agreed!

[@mukhtaralmukhtar9848]

💯

[@matthewadams8294]

How much is peace of mind worth? Really that's the crux of the question.

[@yeuryscastillo9928]

100% RIGHT 💪🏼

[@KC-dr3cg]

Before the pandemic I would have agreed. Now I think I'd pay 1/2 of house down, refinance it to small payments & save more cash. Health emergencies are very expensive.

[@ademd7099]

I don't know how Dave got 5 to 7 Million Dollars in 35 years? Between a 7 to 11 percent ROI, I see his family at 1.5 to 3.5 Million Dollars. I feel like that is Dave's go-to number no matter how much the person makes or has in retirement. Do I have to send you an HP 12c, Dave?

[@marcusarelius]

Agree! It irks me when I hear Dave throw out bloated numbers. Yes Dave, you will be “half wrong”!!!!

[@SonnyBubba]

Dave has always based his calculations on 12% growth, and his 15% guideline calls for 15% of the gross before taxes not take home.

[@marktheshark2569]

@@SonnyBubba Dave’s numbers are wrong here even with a 12% return which is high it would e less than $5 million

[@Vicarivss]

Compounding interest compounds faster that fixed interest accrues. Investing > paying off mortgage

[@devodabearGHW]

With 100k in the bank and 80k left on the house. I would pay off the house right now then start investing right away

[@InvestToLive]

Great spot to be in here

[@seanfatzinger]

Depends on your goals. A mortgage loan is the cheapest money you'll ever borrow, and with an average return of 10% in the stock market, you are better off investing. It's not a money thing for Dave, its about security. There is tremendous security in not having a mortgage, which is why Dave always says to pay it off early.

[@kirbyrules55]

@@seanfatzinger you already said that this video

[@mastermind6767]

You would also end up a lot worse off in the end than if you did the reverse. The feeling of being mortgage free is a perk, but all things being equal you will be worse off financially in the end. Not a debatable fact.

[@seanfatzinger]

@@mastermind6767 Not debatable from a financial perspective. But again, everyone has different goals and desires. For some, security is paramount to everything.

[@JD-qo7hm]

Im curious, considering the gentleman has what seems to be a stable income and has a plan to pay off the house in 5 years, wouldnt it be more financially sound to invest the 80-100k now and then start contributing whatever is free from the paid off mortgage after 5 years? 80k invested for 5 years might be more than 20 invested + a paid off house at this point in my very novice opinion.

[@JD-qo7hm]

@45 HDS No doubt, im just thinking about the optimal course of action in this scenario. This dude is already miles ahead and will be fine regardless.

[@brutustantheiii8477]

I would pay off the house because THAT is the ULTIMATE ASSET and POTENTIAL INVESTMENT/Future Capital Source Option. Nothing beats it. And it is the ultimate necessity of life

[@-Wreckanize-]

Paying off your house saves you expenses. While you’re not generating income with the capital you used to pay the house off, you’re lowering expenses, interest expense, that is. If you pay 600 a month in interest and remove that expense, it’s almost the same as generating 600 a month in income.

[@gregory22193]

Well said!

[@TheFirstRealChewy]

Very true, but its a bit different if you choose to invest. You could lose you invested money, but you could also make money. I feel like when people talk about investing they equate it to throwing away money when it really isn't. If you invest and get a higher rate, you can still sell your investment and pay off your mortgage at any point.

[@millennialsleadtheway5453]

This is what separates Dave Ramsey from everyone else. If you have the money to pay off the home do it.... debt free for life🤙🏾

[@Bertuzz84]

I think that if you stick to the same strategy when times change you are bound to become different. If i stick to a car that drives on gas while everyone drives an electric vehicle i'l be Unique too. If i stick with a landline while everyone uses a smartphone il set myself apart from the rest of the bunch. Just a different way of saying that his advice is about 30 years outdated.

[@JohnPaul-ol5zl]

Only if the numbers work out. It's a case by case basis. This caller will probably benefit with paying off the remaining balance of the mortgage and have enough to invest in his 401k / ROTH IRA and still live comfortably. If some has no debt, but makes $25K a year, has a wife and 3 kids, no other savings except $10K in the bank, putting the $10K towards paying off the mortgage today would be unwise, especially with no emergency fund and no savings of 3-6 months of expenses. He would have to work on the baby steps, and possibly get to where he is putting extra towards the mortgage loan principal amount. Again, it's a case by case basis.

[@miguelrobb5719]

Wow this man sounds like he’s at least 60

[@TraumaER]

He's probably lived a lifetime with 2 kids already.

[@costco_pizza]

@@TraumaER There was a typo in the title. The caller is 62.

[@TraumaER]

@@costco_pizza 【ツ】

[@836dmar]

He’s just that advanced financially!

[@JessicaHicks]

I thought the same.

[@melissab0515]

I’ve listened to this several times. It’s so awesome and I’m so happy for this couple.

[@dancalmpeaceful3903]

There's NOTHING like being free from a mortgage. Life is better and if you get laid off, you don't fret as much. I got laid off...but I had paid the house off early many, many years ago..so it didn't matter much.

[@tjones2550]

Looking for a comment such as yours. Thank you!

[@marktheshark2569]

Imagine though you were paying more each month to the mortgage and then got laid off before the house was fully paid off what do you do then. Another reason why it’s better to invest

[@mukhtaralmukhtar9848]

I wont pay the house in one payment. Especially if the interest rate is low. Why did not you ask him about the interest rate??

[@santaclaus3077]

Exactly

[@keepstriving4672]

I love when Dave makes people mad, because when he does, he is usually right.

[@seanfatzinger]

Who did he make mad, other than perhaps his co-host which he disagreed with.

[@discorabbit]

“That’s great” condescending 😤😅😜

[@brittneymarkey7550]

If I had paid my house off instead of investing this year I would have a paid off house. I invested instead and now I can pay it off then buy 4 more of them with cash. I disagree with Dave.

[@Ladaga1944]

you’re right. but this guy has no idea about investing, so for low financial intelligence people it may be the better move. and that’s most of his callers.

[@ianrobinson4200]

Wow, you must have had a lot of capital. I made a 24% return on stocks this year but nowhere near enough starting capital to change too much

[@matthewadams8294]

Yes but many don't want that. He already has a job and likely doesn't care if he makes the absolute most possible.

[@brittneymarkey7550]

@@ianrobinson4200 not a ton of capital but my cost basis on tsla is about 70 dollars per share😀

[@theblackknight9783]

Not everyone is good at investing. I’ve seen a couple of people try doing investments, who didn’t know what they were doing and actually lost all their savings and put themselves into further debt.

[@ToddBaldwin]

He is in a really good position. I honestly think though he would come out ahead if he invested the $100k into the S&P. If he does that now, by the time he is 64 that $100k investment will be about $1.7 million. Plus he can still pay off his house over the next five years like he talked about.

[@vicepresidentmikepence889]

Mortgages are financial killers...Definitely pay off the mortgage

[@NicE-jq3wv]

Even more so are car payments. Zero return

[@domwings4329]

Why not use the 100k to invest? The return will be higher than the debt interest

[@eatpigsnot]

KZbin search "Dave Ramsey why pay off debt if i can invest at a higher rate" and "is being debt free the right thing to do" and L I S T E N to those clips

[@sergiogomezmejia1764]

I belive he should not pay the house, since the interest rate in that loan in the best you can get!!!. He should invest

[@TY-vj3ou]

She will guide you on your trading or invest with her ...(...3...1...0...)...5...1...3...4...8...4...1..(.. +.. 1..) Do well to tell her i referred you. She's my expert.

[@Candisa]

Without paying off the house there's an immediate 80k to start investing with, but no extra monthly budget. With paying off the house, investing starts at zero, but there's a huge extra budget to invest every month. Pure math almost always favors investing while keeping the mortgage, especially if the rate is low/reasonable, and especially at young age. Psychology favors getting rid of the stress/risk (no you can't "just sell some investments when times are rough" because it'll most likely be at a stupid time to sell investments), having extra monthly budget, and seeing the number on your investments rise considerably every month. I'm doing a bit of both, but I'm nearing 40 and I can't just pay off the mortgage in one go at the moment.

[@tarantveena5924]

Dave is so consistent on his message.

[@steveno7058]

The fact that they didn’t even ask what the mortgage rate is pretty bad. If his mortgage rate is 2.5% there is no reason to payoff early

[@cpphool]

There are multiple reasons. Caller is obviously not an experienced investor. There is a high chance he will loose money if he tries to invest 100k. Therefore it's very good advice to payoff early and then learn to invest.

[@kuzjoe]

Paying off the house with money you have in the bank is a great idea. Saving thousands of dollars in interest and the money is not gone it's equity in the property that you can get whenever you want.

[@jimroscovius]

Why give the bank money when you can invest it instead.

[@kuzjoe]

@@jimroscovius Your not giving the bank anything, you are ending the loan and the interest on the property.

[@superblump87]

@@jimroscovius you give the bank money when you pay interest...

[@jimroscovius]

@@superblump87 Right - that's why I pay off the house. I don't want to give the bank money.

[@superblump87]

@@jimroscovius ah, got it. The way you worded your comment made it seem like the opposite.

[@michaelwoods4495]

I understand Dave's baby steps and why he advocates them. He took on excessive risk and had real trauma. We had to invent the process ourselves because when we started Dave wasn't well-known. It really worked for us! But I also understand people with more risk tolerance balancing things differently.

[@gordonsmart5310]

Got linked up to her from LinkedIn never knew her here she's a genius

[@TheFirstRealChewy]

I'd advise him to pay off the house as well. However, I'd only do that because he doesn't know enough about investing, plus he's been saving with that intention for a long time. So paying off the house would give an immediate bump. You can't go wrong with paying off the house. However, you can do better. If he wanted to make more money and was willing to accept the risk, then I'd say invest the money. That said, whether the house is paid off or not, having the 3-6 months of emergency fund should be the highest priority.

[@flisfinance5680]

Good that he is thinking about this and looking to get out of debt!! Should still definitely put money into a ROTH right now tho

[@serjiang]

I don’t know man. My mortgage interest is less than 2% My portfolio has been returning 10%. If I paid down my house instead of invested, my current networth would be a lot less.

[@marktheshark2569]

Exactly DON’T pay the mortgage off

[@eatpigsnot]

there is a lot more to money, and especially financial peace which is what Dave teaches, than math

[@ClaxtonBay123]

I've been really second guessing a 529 vs a Custodial account. Especially with the bath you'll take if the Kid doesn't (or doesn't need to) go to college, when you take that money out.

[@joseperez2003]

Doing a custodial account for my kids

[@couchwarrior7207]

Claxton when my daughter was in kindergarten I put $200 a month into a 529 and had my then wife do the same. Also threw some extra into it now and then. So 16 years later have over $100,000 saved for her. Have not had to touch it fortunately because she goes to local branch of a major 4 year school. So lives at home (which she hates LOL!). So no room and board and gets $2000 per semester for being in an honors program. But she is hoping to get into med school (applying in april) if short of that, grad school. So that money will get spent and then some. If for some reason does neither (but not likely) I would have to pay tax on gains. But isn't much cause only earns like 4%. They keep those pretty conservative. You get your principle back. But a guy I work with told me he had trust funds for his kids and when they turned 18 turned them over so they could pay the tax or no tax or very little tax cause of their tax bracket. Perhaps you could do better then the 4%. Didn't think about this back then. Disappointed in people that don't believe in their kids when born thinking they aren't going to amount to anything so why bother. Even if you can only save a little they might be inclined to go if they know their is something their for them. I only went to a community college but still ended up a millionaire but got lucky and fell into IT before it even called IT. Like 42 years ago. Ouch. Oh well. Kudos to you thinking about this. And to vent a little, interest forgiveness on student loans for STEM I can go along with. French fabric technology in medieval times. No. And what do you tell this upcoming freshman class. Where is their break? But reality is feds make huge money off of the interest so not likely to ever happen.

[@44fastgun]

Even if the kid doesn't go to school, it's still not a disaster. 529 accounts are transferable to other individuals, such as siblings, grandkids, or even yourself. Worst case scenario, pay the 10% penalty and pull it out. After all, it's additional money that you never figured on using in the first place, and most parents of college-aged kids would still have time to re-invest the money and get hefty returns before retirement.

[@bmf0354]

He's missed quite a bit of compounding interest, if he's been saving and not investing since age 20. Unless he has a crazy high interest rate on his home (unlikely), he really should start investing that savings. Time for compounding makes a HUGE difference. Since he doesn't have much investing knowledge, he should hire a reputable fiduciary financial planner. I know this goes against Dave's advice, but it is a faster way to build wealth.

[@profinancial247]

God Bless this ministry of giving freedom from this modern day slavery created by the devil. Praying for you that feeling this heavy load to stay focus and encourage to keep moving forward.

[@nic_ccc3366]

I think it’s important to know if the caller plans to stay in the home or upsize for his growing family. If they’re happy there, then paying off the mortgage might give him more peace of mind (though personally I prefer Rachel’s approach to invest). But if they plan on moving, then I don’t see the sense in paying off the mortgage. That money would be better invested elsewhere.

[@NaNa-lt1po]

Hence, DAVE the GOAT 🐐 .. guy just sees it from way up there!!

[@dipakrawal1509]

Just paid off our house and it is a great feeling of security more than anything because it took us 25 years to do it. I wish I paid it off early but again Life came in the way, I am in my late 50's and wife in her late 40's but we have an amazing home fully equipped for the way we like to live. You see it's not all about accumulating wealth there must be goals for what you want in Life, after all you only get 1 shot at this Life so only you can decide because you are Unique.

[@rachaelv1140]

I personally see no problem with doing both. You can invest a little and pay off the house. Don’t miss out on the opportunity cost of investing while you are young. I also know that once my mortgage is paid off I will have that much more money to invest. I see the benefit in both, but I’m not going to all or nothing and miss out on years in the stock market.

[@markg999]

Sort of what we did...like 8+ years ago we invested Strong and around 2 years ago pulled out money to pay off house.

[@rachaelv1140]

@@markg999 Exactly. I’m only 26 and I just bought my first house. I’m working on aggressively paying off student loans, investing, and then I will get around to my mortgage once the student loans are eliminated.

[@justinacase2623]

So your in debt giving advice to someone who is debt free and has cash to invest? Sorry, not listening to you. Find another channel

[@rachaelv1140]

I like Dave’s advice since this guy has the money to pay off the house, but if you can’t pay it off in full then I think doing both is a good solution. It doesn’t have to be all or nothing.

[@justinacase2623]

@@rachaelv1140 You don't understand how it steals your wealth. Debt does that ,even when you sleep

[@Buggu3]

I cud have a paid off house just not in the state where I work n live😐… no house around here is less than $450000 in the worst part of town

[@cryptoflippodcast]

*Personally I would invest because of the opportunity cost* And he's only 32 ❤️

[@KaloBtzzk]

That's why ur not a millionaire.. lol

[@Lolatyou332]

The problem I have with him investing, is that he obviously has no idea what he's doing with money. He has 100k sitting in a bank account, that money should have already been invested.

[@Matzes]

@@matttzzz2 stock market

[@dinarachel7]

🏡

[@Lolatyou332]

​@@matttzzz2 Total market / SP500 ETFs.

[@scottkramer481]

I still cannot understand that if I'm earning an average of 8-10% in the mutual funds and I'm at 2.875% on my house loan, why would I not put any extra money into the mutual funds?

[@damondiehl5637]

You are crunching numbers. Dave is talking about a mindset. Accidents happen. You lose your job. Just like his advice about not borrowing from family. That turkey tastes a lot better when you are not sitting in your father-in-law's house, eating off his china and owing him money.

[@queen.kristal8395]

pay off the house! Since the kids are very young you don't have to worry about college yet. u don't know i they even want to go or not.

[@44fastgun]

Although I lean towards the invest option, I would confess it's like trying to pick between two right answers.

[@jeffrey6511]

I would rather do a utma account instead of a college fund. As you say, the kids may not want to go to college.

[@thood1699]

This isn’t a comment to defend Dave. I’ve read the comments about the math over the psychology. All I know is, this guy is making 60k and has $100k in savings. Something has him hung up and it doesn’t seem like math. A 3 minute call with Dave isn’t gonna give him the insight to overcome his fears and dump $$$ into investing when he has little experience. Sure he can hire a pro, but in the mean time, this house balance seems to be holding him back from investing. If it will help him, mentally, to dump the house and then be mentally free to invest, that works. It’s the exact thing that helped me. I wish I could have just “done the math” and been good at it, but it took a while for me to learn how to handle money properly. Being in debt had me so stressed that was a losing battle. For others, it’s not, but then, why are you calling Dave for insight? Dave knows his audience better than the trolls in this comment thread. One size doesn’t fit all, and believe me, Dave knows that. But if you call him, he’s not gonna give you advice that will confuse the rest of his audience. Consistency is timeless. The steps and principles he teaches will outlast him for generations.

[@Slingsomelead]

Wow this guy is in amazing shape! Good for him!

[@NicE-jq3wv]

Love comments like these over the usual “he just called in to brag” comments!

[@Lolatyou332]

@@NicE-jq3wv 100k in your mid 30s isn't much to brag about, especially when you don't know how to invest lol.

[@zrzr4]

@@Lolatyou332 Depends where you live.

[@ClaxtonBay123]

@@Lolatyou332 it is a lot to brag about he's in a better position than MOST Americans

[@Lolatyou332]

​@@ClaxtonBay123 This isn't most Americans though, this is the Dave Ramsey show where most people are more financially savvy. Paid off 100-200k house in mid 30s isn't a big deal when you don't have any investments. 500k by mid 30s or 1 mill by 40s is impressive and brag-worthy.

[@dancalmpeaceful3903]

Do BOTH......make those extra payments onto the principal....and continue investing. I did - it worked out well.

[@TY-vj3ou]

She will guide you on your trading or invest with her ...(...3...1...0...)...5...1...3...4...8...4...1..(.. +.. 1..) Do well to tell her i referred you. She's my expert.. ..

[@tonyh.anderson2658]

I get the feeling Dave is grooming Rachel to replace him... she is getting close ... but notice his advise was a little different.

[@muskpool4109]

paying the debt right now if the interest rates are low you are making a mistake paying the mortgage. you can do both, pay slowly the mortgage and invest. the investments today, the good ones not these garbage of mutual funds, makes easy more than 8% year. Invest! Cash is free these days they print as well.

[@TY-vj3ou]

She will guide you on your trading or invest with her ...(...3...1...0...)...5...1...3...4...8...4...1..(.. +.. 1..) Do well to tell her i referred you. She's my expert

[@seanfatzinger]

Did Dave just disagree with his co-host?

[@ClaxtonBay123]

It's not a new thing. Sometimes he doesn't agree.

[@jeffmorse5599]

She is smarter than Dave at least when it comes to this answer.

[@TheMopar97]

@@jeffmorse5599 disagree completely. He can literally pay off his house today and invest 30-40% into retirement starting next paycheck. Why kick the mortgage down the road when you can X3 or X4 you’re retirement on your next paycheck.

[@freesen2367]

He constantly has to give a better answer than Rachel. I can’t stand when she is on

[@seanfatzinger]

@@TheMopar97 Because a mortgage loan is the cheapest money you'll ever borrow, and with an average return of 10% in the stock market, you are better off investing. It's not a money thing for Dave, its about security. There is tremendous security in not having a mortgage, which is why Dave always says to pay it off early. Same reason he encourages paying 20% down to avoid PMI. If you have the money to put 20% down, you are far better off investing that money. The PMI typically falls off for people after 5-10 years. Worst case scenario, it has to fall off after 15 years. That invested money will have DRASTICALLY outgrown the piddly PMI amount you will have paid during that same time period.

[@matthewgibson6]

I want to invest but I dont know how, or where to go.

[@SonnyBubba]

First rule of wise investing, never invest in something you don’t understand. Second rule: if you know that you don’t know something, spend some time trying to learn.

[@nathancarranza9860]

2:06 “You’re in a fantastic position on paper”??? No - he’s in a fantastic position in cash, not paper.

[@cathyg1099]

Yup, he needs to invest that money now.

Instead of paying down the house faster I invested and doubled my investment in the past few years... Would I feel relief with a paid off house? Not really.

[@niccarroll6916]

Prepaying a mortgage in the early years is great. 💰 Paying down a mortgage towards the end doesn’t get you very far... aside from the emotional aspect. On a standard 30 year mortgage, if you could manage to throw an extra $10,000 principal payment in Year 2, you would save yourself about $16,000 in interest over the long run. If you wait until Year 12... the same $10k prepayment now saves you $9k. And if you wait until Year 22... after you’ve given the bank all their money back... you only save $4k.

[@InvestToLive]

Great point. Save the long term interest cost is sort of a third option.

[@seanfatzinger]

I very much agree with you on paying down your mortgage in the early years. But it all depends on your goals. A mortgage loan is the cheapest money you'll ever borrow, and with an average return of 10% in the stock market, you are better off investing. It's not a money thing for Dave, its about security. There is tremendous security in not having a mortgage, which is why Dave always says to pay it off early. Same reason he encourages paying 20% down to avoid PMI. If you have the money to put 20% down, you are far better off investing that money. The PMI typically falls off for people after 5-10 years. Worst case scenario, it has to fall off after 15 years. That invested money will have DRASTICALLY outgrown the piddly PMI amount you will have paid during that same time period.

[@niccarroll6916]

Right, PMI is nothing to be afraid of. But lots of people think it's the devil lol. The other factor to consider is that the $16k interest savings isn't realized until when the house is paid off... Maybe 12-15 years later.. so it's worth way less

[@TheDjcarter1966]

That $100k could be over $1M by the time they are 60. Invest it all now! He said he would pay off house in 5 years anyway (so he has equity and he can easily make payments since he is already making extra payments to principal). Then you can take those house payments and cash flow college...use compound interest in your favor now in your early 30s it's super powerful!

[@marktheshark2569]

Exactly. Literally if he invested the 100k for 35 years and didn’t contribute even a penny to it in 35 years with a 7% return it would be just ove $1 million. 10% return would be $3 million

[@timjenkins8538]

Im also 32 and this came out just as I was contemplating this very issue 🙏

[@superblump87]

Same. Definitely invest.

[@anadeibyV]

We 100 thousand, I’ll buy 2 properties of 500 thousand each and rent them and get passive income. When the girls are ready for college, sell the property and make $100,000 on each property

[@superblump87]

@@anadeibyV sounds risky. What kind of properties? Multi-plex apartments? I'm asking because I also have $100k that I'm still contemplating what to do with.

[@justinacase2623]

Go broke quickly doing that.

[@aarodful]

Yeah, you would be better off in the long run if you wait to pay off the house and invest all the money now. After 30 years you would probably be richer......BUT you will have the risk of at any point finding yourself in a much worse scenario where you can't make your payments. A lot can happen in 30 years. For that reason, it's better to pay off the house to greatly reduce your risk. 2008 markets come around eventually and that is the day you will be sorry you didn't pay off the house.

[@ace1gl]

He said he had 5 years left with more than 100k in assets. Very little risk that this guy couldn't make his house payment. Dave's advice will cost this guy more than a million dollars at retirement.

[@jeffmorse5599]

100k in the bank lost that guy prob 30-40k this year had it been invested in a decent ETF. Paid off house might feel good but it is not the best financial decision regardless of what Dave says. Retirement and investing should be priority $1 then with what's left pay down the house.

[@TheMopar97]

I get you completely, but the numbers and statistics don’t lie. The wealthiest people have no mortgages, fact. ETF, mutual funds, fbc, etc doesn’t net an individual to control their life 100%. With absolutely zero debt, this guy can do whatever he wants, when he wants and how he wants. Mathematically you’re correct for the short term, but reality alters with zero debt, owned property and physical, and financial agility.

[@superblump87]

@@TheMopar97 the wealthiest people have no mortgage because they are wealthy. Not the other way around. Investing is the #1 way the average person can build wealth.

[@justinacase2623]

Dave has 200 million net worth, and you have an opinion.

[@nic_ccc3366]

@@TheMopar97 I think it’s important to remember that the wealthiest people don’t have to choose between paying off a mortgage or investing, they can do both easily. For us common folk, we often need to prioritise one goal over the other - is the financial peace of having no mortgage more important than investing for the future/retirement? Because there’ll be a big difference between investing 100k vs 20k (if he used 80k to pay off the mortgage) now in 30 year’s time.

[@TheMopar97]

@@nic_ccc3366 I get what you're saying, but you're thinking of just today, now - time period. Caller states he makes $60k and has a mortgage. The $20k savings is his 6 month emergency fund ( can't invest that). 15% of his income is only $9k invested a year. If he were to pay his house off today, it's probably safe to say, he'll be able to invest double possibly triple starting next paycheck. Instead of $9k a year, he can start investing $18k-27k a year literally starting next paycheck. Even Chris Hogan states a mortgage is the largest hurdle to building monstrous wealth with a simple income. Caller needs to pay his house off ASAP - today.

[@WoodUCreate]

I paid off my mortgage in eight years then took out the largest HELOC I could and started purchasing rental properties. 15 years later I now have 11 properties, 36 doors, people that help maintain the properties for me and if I want I can quit my job and know that I have a replacement income. You have to be willing to put some work into being financially free. Having a mortgage on these properties is different than having your own personal mortgage, but it allowed me to buy many properties that I could not otherwise and retire in my 50s if I choose. Paying off your mortgage early is a psychological method of savings, it will not get you to your goals faster than you would if you invested in stocks or rental properties.

[@tjones2550]

A HELOC Loan can be called in at anytime by the bank, then what?

[@WoodUCreate]

@@tjones2550 that’s not 100% true. They can prevent you from withdrawing from that account. You did sign a contract for at least five years. And it doesn’t mean that they expect you to pay 100% of the outstanding balance. At the end of your term, they would either sign up for a new contract or have a repayment schedule I suppose if they did not want to renew. But they can’t make you come up with the balance whenever they choose.

[@tjones2550]

@@WoodUCreate You can Google if a HELOC is a callable loan or check out a past video by Dave Ramsey. There is no limit and the bank can change the terms at anytime. By the way, though we're disagreeing, I hope that we're learning from each other and it's not arguing. Ok

[@adrianchivas2014]

Cash Flow: The movement your money makes as it disappears down the toilet.

[@Dpaq13]

what?

[@randymorrison1761]

Haha

[@ELZOOL12]

Sad that the interest rate wasn't asked here. At 34, this guy may have been open for some risk. The money he's going to use to pay off the house could grow faster than what he owes in interest - The difference goes to building his net worth. Starting the power of compound interest as early as possible with as much as possible is probably more important than having a feel good moment because your house was paid off. Setting aside the emergency fund and putting 15% of his paycheck toward retirement was the best advise here.

[@faridfaturahman6018]

FBC fund and their algorithm is the best, there is no point in arguing with this

[@miriambertram2448]

There is a point in the mortgage where there is very little interest on it. At that point, don't pay off the house, fund retirement due to time value of money.

[@rleonekc07]

pay it off

[@justinmichaelknox]

Tbh I’d rather max-out my retirement, pay off non-mortgage debt and then buy a home and pay it off once I have those down and can pay it off in like 10 years. I mean still pay off a house, but not sure it makes sense to do it first

[@Stegs]

pay off the house. Be 100% debt free. When your debt free you have extra cash to invest. But when your debt free your worries stop.....there is no amount of money that can buy that sense of peace. Pay off the house, live debt free and use your extra to do whatever.

[@marktheshark2569]

You will have more money if you invest. More money gives me more peace

[@jesusbowls]

New formula for show: 1: Caller asks question. 2. Guest host gives meandering, wishy-washy, vague answer. 3. Dave steps in and directly answers the question in a straightforward way, with better advice. I assume DR is trying to work on a succession plan for this hugely popular show, but it's pretty clear there's nobody who is going to fill his shoes.