I’m 61 and Have No Money!

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The Ramsey Show Highlights

Күн бұрын

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Пікірлер: 1 600
@samlavez001
@samlavez001 13 күн бұрын
I just switched up my Roth IRA to 50% SCHD, 25% SCHX, 25% SCHG, and my Roth 401k is 70% vanguard S&P 500 index, 20% vanguard growth index, and 10% vanguard international index. Seeking best possible ways to grow $350k into $1m+ before retirement in 3 years.
@UnityStandard
@UnityStandard 13 күн бұрын
consider financial advisory so you don’t keep switching it up... those sound like great picks anyways, not bad for $350k.
@AravindRia
@AravindRia 13 күн бұрын
Agreed, I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has 5X in barely 4 years, summing up nearly $1m as of today.
@EmmaDavis-n6u
@EmmaDavis-n6u 13 күн бұрын
this is huge! would you mind revealing info of your advisor here please? in dire need of portfolio rebalancing
@AravindRia
@AravindRia 13 күн бұрын
Rebecca Lynne Buie has always been my top recommendation. Renowned for her expertise in financial markets and backed by an impressive track record, she comes highly recommended.
@SamuelUlrich-o4u
@SamuelUlrich-o4u 13 күн бұрын
Thanks for putting this out, curiously inputted Rebecca Lynne Buie on the web, spotted her consulting page and was able to schedule a call session, she actually shows a great deal of expertise.
@Lighthouse1810
@Lighthouse1810 Жыл бұрын
Every young adult entering the workforce needs to listen to this call.
@ihmpall
@ihmpall Жыл бұрын
That dodge viper isn’t going to buy itself
@elchapojr6219
@elchapojr6219 Жыл бұрын
Most definitely and work at a bank and see how people manage money and they would be surprised
@liberator9248
@liberator9248 Жыл бұрын
Please let this go viral
@maureenogorman8740
@maureenogorman8740 10 ай бұрын
Young adults can't comprehend 67 years old
@christopherhoyt7195
@christopherhoyt7195 9 ай бұрын
@maureenogorman8740 Very true. Nobody thinks it will happen to them. If people didn't go broke left and right, Dave Ramesy wouldn't have the career that he does. That's why the show is restorative in nature, not preventative.
@EvaHoffmann153
@EvaHoffmann153 2 ай бұрын
Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future..
@TicheDebb0
@TicheDebb0 2 ай бұрын
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
@AshleySommerset808
@AshleySommerset808 2 ай бұрын
Well as you know bigger risk, bigger results, but such impeccable high-value trades are often carried out by pros.
@EvelynBrooks0
@EvelynBrooks0 2 ай бұрын
What steps can I take to engage in this opportunity? I genuinely aim to secure my financial future and am enthusiastic about taking part.
@AshleySommerset808
@AshleySommerset808 2 ай бұрын
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Rebecca Noblett Roberts” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
@henryallard245
@henryallard245 2 ай бұрын
Thanks for sharing, i did a quick web search and found her, she has a good profile and i hope to get a response soon
@mrbaboy
@mrbaboy Жыл бұрын
Yes! Give us these kind of callers. The common person in the U.S! Not the, "I don't know what to do with $250000 saved up!"
@mariannebrandon8891
@mariannebrandon8891 11 ай бұрын
Agree maybe I’m bitter but I don’t care about those super rich folks who just don’t know how to handle their finances
@darionfranklin
@darionfranklin 10 ай бұрын
I like hearing both because it shows that it’s not about how much money you have it’s mainly about your behavior
@TonyCox1351
@TonyCox1351 8 ай бұрын
This caller seems delusional. 30 year old student loan but a $27K tractor? Husband is too disabled to work but is going hunting? I cannot relate
@Jane-rh7tc
@Jane-rh7tc 7 ай бұрын
⁠@@TonyCox1351exactly, maybe the ppl with half a mil annual income is unrelatable to some ppl, but 75yr old disabled person still having hobby to go hunting every day is equally as unrelatable to me
@la9863
@la9863 6 ай бұрын
I agree! And people have to stop judging them.
@Doracox22
@Doracox22 6 ай бұрын
The average social security check is $1827 a month. The worst part is 22% of Americans have less than $5k saved for retirement. Start investing now! Nobody is coming to save you
@Richmind-ir5zi
@Richmind-ir5zi 6 ай бұрын
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
@Mitch10bands
@Mitch10bands 6 ай бұрын
keep contributing! I'd suggest you consider financial advisory at this point in time, remember you are in for the long haul
@greekmom
@greekmom 6 ай бұрын
I'm in line with having an advisor oversee my day-to-day investing cos, my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio has just 5X in barely 5 years, summing up nearly $1m after subsequent investments to date.
@TylerofSc004
@TylerofSc004 6 ай бұрын
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
@greekmom
@greekmom 6 ай бұрын
Kristin Amber Landis has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
@ShirleyM_Anne
@ShirleyM_Anne Жыл бұрын
I wish you guys would devote a whole show to old people in situations similar to hers... many are just too ashamed to call in...😢
@Azel247
@Azel247 Жыл бұрын
The advice would simply be to sell everything to pay off your debt and then keep working
@chosenlyric
@chosenlyric Жыл бұрын
@@Azel247 sell everything to who?
@Azel247
@Azel247 Жыл бұрын
@@chosenlyric That's up to you
@helena3631
@helena3631 Жыл бұрын
i am in my 30's and this scares me
@freedomisnotnegotiable
@freedomisnotnegotiable Жыл бұрын
Have no farm, only 7 acres but buying a 26k tractor… that’s US right here… I have 20 acres, and I have cattle horses, chicken, pigs and more and I do have a tractor, but I bought it for 10k cash and thought that this is already insane…
@herb8965
@herb8965 Жыл бұрын
A student loan at 61 is wild😢
@Wet_Willys_Wetter_Water
@Wet_Willys_Wetter_Water Жыл бұрын
I laugh at people who are waiting for loan forgiveness because this is how they're going to end up lol
@nightfangs2910
@nightfangs2910 Жыл бұрын
The way things are right now for students that will be common place in the coming decades student loan debt is crazy now, and most students have no idea how or if they'll be able to pay it back 🤦🤦🤦
@steelcastle5616
@steelcastle5616 Жыл бұрын
Note she said she hadn't paid on it in 3-years... Some wounds don't heal -- they fester and rot.
@lolwtnick4362
@lolwtnick4362 Жыл бұрын
​@@nightfangs2910for 24 years? lmao
@vickieclark5931
@vickieclark5931 Жыл бұрын
@@lolwtnick4362 Yep. Those student loans NEVER go away unless you pay them off or die. That's why Dave is so against them because they are one of the worst loans and hardest ones to pay off. So it's not uncommon at all for people to have student loans in their 60s nowadays. And with the way everything is going now, in another 40 or 50 years, people will have their own student loans into their 80s. Very sad, but unfortuneately it's true.
@o0usf0o
@o0usf0o Жыл бұрын
Like Caleb Hammer says… save so you “don’t die on the Walmart floor”
@RHill40
@RHill40 Жыл бұрын
It's sad to hear stories like this. Consumerism and financial ignorance destroys lives.
@matthewgardner2144
@matthewgardner2144 Жыл бұрын
Self-induced crisis.
@dianetownsend9813
@dianetownsend9813 Жыл бұрын
MEDICAL bills probably
@invenio1978
@invenio1978 Жыл бұрын
@@dianetownsend9813 Sure, I also had to finance a tractor the last time I got sick.
@electrodynamicorb6548
@electrodynamicorb6548 10 ай бұрын
And living in the south
@Jane-rh7tc
@Jane-rh7tc 7 ай бұрын
@@electrodynamicorb6548doesn't matter where one lives, if they have no sense of planning for their life and finance, they be broke no matter what
@Lil-Whiskies
@Lil-Whiskies Жыл бұрын
It's one thing being in your 60's with no retirement fund (which is bad enough) but being almost $70k in debt with no money saved at all is a whole other issue.
@ruthirwin8222
@ruthirwin8222 11 ай бұрын
Scary scary
@CA2SD
@CA2SD Жыл бұрын
I watch these to keep myself on track and will never judge anyone coming on this show to share their story. Most ppl are steps away from being homeless. I'm rooting for this lady because she has the means to get herself out of debt.
@turtleanton6539
@turtleanton6539 Жыл бұрын
I fully agree 😊
@kensmith2796
@kensmith2796 Жыл бұрын
Yes, at least she's taking steps to improve her situation. My parents both retired at age 62 with no savings, no house and no car. They would have been homeless if it wasn't for us "kids" helping them out.
@goofygirl1311
@goofygirl1311 Жыл бұрын
@@kensmith2796 Wait. So your parents expected their kids to fund their early retirement? That isn't right.
@LeinaVance
@LeinaVance Жыл бұрын
This. People who follow Dave can be so smug behind their computer screens when it's not their financial situation being scrutinized.
@LeinaVance
@LeinaVance Жыл бұрын
​@@kensmith2796what's with the "kids"?
@joysilas4724
@joysilas4724 Жыл бұрын
She’s the perfect example of why you should not wait and just pay off your student loan asap!
@fornos123
@fornos123 Жыл бұрын
💯
@mattmasteringer4399
@mattmasteringer4399 Жыл бұрын
That compounding interest is the killer and source of income for the government.
@Bluetreez
@Bluetreez Жыл бұрын
Oh so you think everyone just has the money - and she's probably been screwed on interest.
@megalodon1726
@megalodon1726 Жыл бұрын
@@Bluetreez her student loan is from 1999, she had the money to pay it off years ago. She just didn't have the discipline.
@TopVillain
@TopVillain Жыл бұрын
She hasn’t paid her student loans In 20 years and she keeps voting biden in hopes of him forgiving her student loans
@ocmetals4675
@ocmetals4675 Жыл бұрын
I’m 41. These are the kinds of calls that light a fire 🔥 under my butt when I start getting wishy washy with my goals. Geezus I can’t imagine the panic I would feel if I was 61.
@kensmith2796
@kensmith2796 Жыл бұрын
I'm a bit older than you and feel the same way. It's crazy because I look back at how my parents quit working when they were 62 years old with nothing saved and no house and receiving next to nothing in social security. I have no idea how they would have made it without help from us kids. They for sure would have been homeless. They just live each day without any thought towards tomorrow.
@musicman7297
@musicman7297 Жыл бұрын
Invest in silver and gold. Buy what you can and when you can and don't touch it.
@kyleychanel5574
@kyleychanel5574 7 ай бұрын
Shoot Im 27 getting my ish together. I refuse to work until 65 and I need a million dollars to retire
@PersnameLastname
@PersnameLastname 6 ай бұрын
You putting $300/month on whatever wouldnt make an impact at 41.
@ocmetals4675
@ocmetals4675 6 ай бұрын
@@PersnameLastname ok?? Who’s plan is $300/mo?
@juliahall4359
@juliahall4359 3 ай бұрын
“I want your husband afraid he’s gonna be sold next.” Killed me 🤣
@Bravo78631
@Bravo78631 Жыл бұрын
These calls are more realistic than the 16 yr olds making $50,000 a month
@Lebron612
@Lebron612 3 ай бұрын
I'm 31 and make 50K a month, and its not enough, gotta get to 100
@mspro9032
@mspro9032 Ай бұрын
Lmao not enough? That's just greedy ​@Lebron612
@MargaretGSmith-c1q
@MargaretGSmith-c1q 29 күн бұрын
Geez, I’m mid60’s and NEVER made 50 grand in my life. Still, I don’t own a Kubota or have any student loans. I’ve made my fair share of financial mistakes. I feel for this woman.
@WestchesterNYMilton
@WestchesterNYMilton Жыл бұрын
I really like how Dave closed this segment by emphasizing that she shouldn't blame her background on why she's in this situation and instead think the opposite in a positive way. I've traveled to the South (Georgia and Tennesee) and man, I met people there who were the salt of the earth and lived wisely. Keep up the great content!
@EsiriE
@EsiriE Жыл бұрын
“Why do you have a tractor?!” 😂😂 sorry that was hilarious
@101perspective
@101perspective 5 ай бұрын
A tractor out in the middle of nowhere is probably extremely helpful. That said, it's a luxury still... not absolutely vital.
@eleonora6980
@eleonora6980 3 ай бұрын
"Im just a country girl." 😂
@mikesmith-wk7vy
@mikesmith-wk7vy Жыл бұрын
Such a scary statement to have to say , “ hope social security is still around when I hit 67 and retire”. Hoping on government to save you is dangerous
@evelyndaisy9722
@evelyndaisy9722 Жыл бұрын
We pay into social security . It’s not a handout . I hope she gets it because she worked for it .
@alexhanson449
@alexhanson449 Жыл бұрын
​@novakd1530a system with a large deficit will eventually topple
@steelcastle5616
@steelcastle5616 Жыл бұрын
How long do you think she paid into the system? Social security is owed to her because she paid into it.
@Drillbitayler
@Drillbitayler Жыл бұрын
Social security will absolutely need to be stopped, or our dollar will collapse. It's evil that politicians stole/steal our money, and then spend it on other things, but thats what many have, and continue to vote for. I won't see a dime of the money the government has stolen from me so far. So better to stop the stealing sooner while we MIGHT still be able to recover our dollar (honestly, it's probably already too late) than wait until a complete collapse.
@user-vi5vd3ty9d
@user-vi5vd3ty9d Жыл бұрын
If they stopped social security, people would be marching in the streets. It won’t happen.
@Omikoshi78
@Omikoshi78 Жыл бұрын
When Ramsey becomes compassionate you know it’s real bad.
@ayo_k32
@ayo_k32 8 ай бұрын
That’s true, I’d rather him be upset at me than compassionate with me 😂😂
@SwagAli
@SwagAli Жыл бұрын
She seems like a sweet lady. I hope Dave's advice gets her on the right track to enjoy her golden years.
@fascination2525
@fascination2525 Жыл бұрын
She needs to work until 72, not 67. Her husband is 75 (14 years older than she is) and in dreadful health. Her income is going to drop when she loses his SS disability check when he dies, assuming he dies first. What a mess, and it's all too common.
@robertwalker5521
@robertwalker5521 Жыл бұрын
COPD equals Chain Smoker 90% of the time.
@BusArch42
@BusArch42 Жыл бұрын
@@robertwalker5521yup. My mom had COPD and she smoked a lot when she was younger.
@MikeBarbarossa
@MikeBarbarossa Жыл бұрын
You can get a lot done in 10 years. I'm 61 and most of my retirement nestt egg was made in the last 10
@robinpigeon2070
@robinpigeon2070 Жыл бұрын
@@MikeBarbarossaI’ve been able to contribute 50% the last five years and luckily I had a pd off house so I will now have at least $400,000 in my savings plus an accelerated social security check. Almost all of this earned in the last ten years - and the funny part is I’m getting a new job that pays 30-40% more than my present one.
@marilyndalen3197
@marilyndalen3197 5 ай бұрын
Hopefully he doesn’t die before she gets SS
@Susanhartman.
@Susanhartman. 9 ай бұрын
Retirement becomes truly fulfilling when you possess two essential elements: ample financial resources and a meaningful purpose in life. Make prudent investment choices to secure good returns and ensure a comfortable retirement.
@mariaguerrero08
@mariaguerrero08 9 ай бұрын
One crucial aspect of earning profits from stocks is to avoid being frightened and selling them prematurely. It is vital to understand that stocks should not be treated as mere lottery tickets. Consider acquiring the assistance of a financial advisor to navigate your investments.
@mikegarvey17
@mikegarvey17 9 ай бұрын
I agree. Based on personal experience working with an investment advisor, I currently have $1m in a well-diversified portfolio that has experienced exponential growth. It's not only about having money to invest in stocks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
@ThomasChai05
@ThomasChai05 9 ай бұрын
@@mikegarvey17Mind if I ask you to point at how to reach this particular person assisting you? Seems you've figured it all out unlike the rest of us.
@mikegarvey17
@mikegarvey17 9 ай бұрын
'Gertrude Margaret Quinto' maintains an online presence. Just make a simple search for her name online.
@diane.moore-
@diane.moore- 9 ай бұрын
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
@PInk77W1
@PInk77W1 Жыл бұрын
Me High school dropout Laborer all my life. 62. Retired No debt at all. Home paid off. Money in the bank. $50k retirement income. Life is good.
@Excalibur2
@Excalibur2 Жыл бұрын
Good man. I'm working and saving, hopefully I can say the same in 20-30 years.
@vickieclark5931
@vickieclark5931 Жыл бұрын
That's awesome. You are proof that a big income or having a high level of education doesn't mean too much. It's how you spent and saved all your life is how you are able to retire at a younger age.
@darylyost7273
@darylyost7273 Жыл бұрын
Same here,no education ,hard work,own my home,cars and toys! Living large on a thousand a month! 😊😊😊
@misterjoey3384
@misterjoey3384 Жыл бұрын
Laborer until 62??? You're not human. I told my boys if I'm still doing that at the age of 60 just kill me. Hats off!
@DarlinReal
@DarlinReal Жыл бұрын
Darn, preach that! Shout it from the mountain top.
@NicholasBall130
@NicholasBall130 5 ай бұрын
My original retirement plan was to retire at 62, work part-time, and save money. However, high prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
@StocksWolf752
@StocksWolf752 5 ай бұрын
I’m 77 and still working full time. I do enjoy my work, it provides me with purpose and has secured my financial future. Most people are too eager to retire as early as possible. Even if you do retire early, best to get a part time job for the reasons cited above, as well as following many if not all of the suggestions in this video.
@TylerJamestown
@TylerJamestown 5 ай бұрын
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
@StacieBMui
@StacieBMui 5 ай бұрын
Mind if I ask you to recommend this particular coach you using their service?
@TylerJamestown
@TylerJamestown 5 ай бұрын
Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@lolitashaniel2342
@lolitashaniel2342 4 ай бұрын
Thank you so much! This is exactly what I needed right now. I wrote her an email and am waiting for her reply. Hopefully, she responds soon. I plan to start the year on a strong financial note.
@diceportz7107
@diceportz7107 Жыл бұрын
This is my daughter at 61 because her friends know more than her Mom.
@turtleanton6539
@turtleanton6539 4 ай бұрын
Ofc🎉🎉🎉
@goforbroke2
@goforbroke2 Жыл бұрын
There is MILLIONS of Americans in this same situation.
@steelcastle5616
@steelcastle5616 Жыл бұрын
Didn't know that so many people had tractors.
@goforbroke2
@goforbroke2 Жыл бұрын
@@steelcastle5616 This guy..😂
@steelcastle5616
@steelcastle5616 Жыл бұрын
@@goforbroke2 LOL...
@dungeonmaster6292
@dungeonmaster6292 Жыл бұрын
Phuck the banks. It's their problem
@JakeAkstins
@JakeAkstins Жыл бұрын
You remember all those people who partied and didn't take life seriously at all when they were young between 1980-2000. Assuming they didn't die, this they grew up and became this person. 0 sympathy.
@livingunashamed4869
@livingunashamed4869 Жыл бұрын
This is scary! Start investing now guys!
@rangequeen
@rangequeen Жыл бұрын
This is so sad, so many people in this situation. Wishing them the very best. 🙏🏻
@quiltanon
@quiltanon Жыл бұрын
Unfortunately, many people are not ready for retirement...and no money for an emergency. If you are young, i hope you are listening and make better choices.
@ykook7000
@ykook7000 Жыл бұрын
Been happening for years if you are bad with money you'll always be bad with money
@quiltanon
@quiltanon Жыл бұрын
@@ykook7000 my life changed when I took FPU and followed the baby steps.
@dannwhitehead6193
@dannwhitehead6193 Жыл бұрын
When I was younger, I worked with a lot of people that said they did not contribute to the employer 401k. Either they said they needed every dime they made to live on, or that retirement was really far away. I hope they figured it out.
@bunacat1
@bunacat1 Жыл бұрын
Me too. I always encourage younger people to at least contribute what the employer matches. I make a big deal about it being free money and that always gives them a lightbulb moment lol.
@pingupenguin2474
@pingupenguin2474 Жыл бұрын
​@@bunacat1yup, my work pension was conpulsory - it came off before I got my wages, but 30 years of it happenning means I now have enough to live off during my retirement.
@goofygirl1311
@goofygirl1311 Жыл бұрын
I remember people saying that they couldn't afford to save for retirement. Some that did save, wound up cashing out their 401Ks and paying heavy penalties. I do wonder how those folks are getting by now. The key is simple - put pretax money in your 401K, get your employer's match and don't touch it.
@kensmith2796
@kensmith2796 Жыл бұрын
I used to work for a Big 4 accounting firm and there was a senior manager there that was not contributing to the 401k! You just never know what people's financial lives are like behind the scenes.
@seannunemaker5492
@seannunemaker5492 Жыл бұрын
I’m doing just that right now, and opting to buy real estate instead. Pretty risky without a doubt, but I never liked the idea of waiting until I’m 62 to reap any benefits.
@maximusdecimusmeridius5438
@maximusdecimusmeridius5438 Жыл бұрын
Student loan since 1999 wtf 😳
@lot2196
@lot2196 Жыл бұрын
Wow
@XennialGuy
@XennialGuy Жыл бұрын
Midlife crisis student loan.
@dungeonmaster6292
@dungeonmaster6292 Жыл бұрын
Shoulda went cash under the table years ago.
@ensignmjs7058
@ensignmjs7058 Жыл бұрын
I know the feeling. 🤮 I'm in my forties.
@lionheart93
@lionheart93 Жыл бұрын
He prob qualifies for the forgiveness
@harknowhere
@harknowhere Жыл бұрын
Doing better than my parents. My parents are 63, have been renters their entire lives, cashed out 401ks, in thousands of dollars of credit card debt, layaways, unemployed.
@Dan16673
@Dan16673 Жыл бұрын
wtf why?
@harknowhere
@harknowhere Жыл бұрын
@@Dan16673 because that’s how they are
@aquila1993
@aquila1993 Жыл бұрын
Yikes
@Dan16673
@Dan16673 Жыл бұрын
@@harknowhere I hope you ran the other way
@DylanJo123
@DylanJo123 Жыл бұрын
They expect you to provide for them, huh?
@gelliebeane6789
@gelliebeane6789 Жыл бұрын
Thank you Rachel for given her some hope, and letting her know its not impossible. It will take ALOT of discipline, but she and her husband can do it.
@patty109109
@patty109109 Жыл бұрын
They can’t honestly. They are set in their ways and it’s just too late to pretend they are going to have an epiphany and a life change. It won’t happen.
@natureshealing6534
@natureshealing6534 Жыл бұрын
​@@patty109109yeah...can't never could do nothing! Pfft!
@amq440
@amq440 21 күн бұрын
@@patty109109 Agreed. It would involve a big lifestyle change, and at their age, it just ain’t gonna happen. The wife just figured out that she has a few more years to work (assuming they don’t lay her off at her age) and she’s panicking. They’re basically screwed.
@cyoohoos
@cyoohoos Жыл бұрын
Nobody ….NOBODY…. Almost NOBODY reevaluates at 61 with a 70+ yo spouse. She wants a different outcome using the same actions
@thegreatbamboozler4837
@thegreatbamboozler4837 Жыл бұрын
True...she's gotten this far making excuses after excuse after excuse...
@chosenlyric
@chosenlyric Жыл бұрын
My mom’s Reevaluating at 76 with an 84 year old spouse 🤷🏽‍♂️
@joesmith3590
@joesmith3590 Жыл бұрын
@@chosenlyricreally what is she changing that she has a choice about? Being broke and changing due to no money doesn’t count lol.
@jeffrichey3623
@jeffrichey3623 Жыл бұрын
Yep, she is so not going to sell that tractor.
@zsuzsuspetals
@zsuzsuspetals Жыл бұрын
exactly. I know a lot of people like this, sadly. And they usually don't change. If you've never planned for the future, starting to do it in your 60s is almost impossible. She needs a financial/life coach making her decisions for her. And who knows how many family members have tried and failed to get them to turn that Titanic around.
@susannnico
@susannnico Жыл бұрын
The greater the automated income you can build, the freer you will become. Taking the first step is the hardest, but 5 houses later living off automated income since July 6, 2016. You’ve got to start taking steps to achieve your goal.
@lailaalfaddil7389
@lailaalfaddil7389 Жыл бұрын
What kind of investment would you advise? And what is the best way to follow it?
@listerinr
@listerinr Жыл бұрын
Man I can't even imagine being this lady. 61 and still don't have your stuff together?! Jeez man.
@pep590
@pep590 Жыл бұрын
Yes, her biggest break is she makes 67k a year. Usually they are like her and make 35k or unemployed.
@Cristobal8605
@Cristobal8605 8 ай бұрын
This lady truly has no idea how much her 7 acres are worth. Bless her heart
@nicomyth
@nicomyth 3 ай бұрын
Sounds like they may be locked in with no road access (can't build) so could only be sold to an adjoining neighbor.
@georgewagner7787
@georgewagner7787 Жыл бұрын
This is sad. I'm 61 and about to file for social security. I never earned much but I'm cheap.
@nickelarcade6934
@nickelarcade6934 Жыл бұрын
Yeah. Pretty sad. My mom became perminantly disabled about 15 years ago. No retirement, no savings, and has to rely on government now. But when she was working and in better Health, bmw convertibles were a priority over building wealth. I’m not making that mistake !
@stacyh1223
@stacyh1223 Жыл бұрын
She needs to work as long as she can. If she can keep working until 80+, this may be her saving grace. Retiring at 67 is not an option as long as she is capable of working in any capacity.
@summerforever6736
@summerforever6736 Жыл бұрын
who said she makes it to 80?
@kendrapratt2098
@kendrapratt2098 Жыл бұрын
His face when she was talking about the student loan from 1999😂 “Every deer in the area “🤣🤣🤣
@MikeyFFA500
@MikeyFFA500 Жыл бұрын
This is what happens when you don't take care of your finances.
@steelcastle5616
@steelcastle5616 Жыл бұрын
And grow old doing it.
@mikenelson8377
@mikenelson8377 Жыл бұрын
Don’t be her 💀
@voycodin5042
@voycodin5042 Жыл бұрын
Some people don’t have much of choice.
@sinamen516
@sinamen516 Жыл бұрын
Well obviously hence her calling
@econ0003
@econ0003 Жыл бұрын
@@voycodin5042 she had a choice. She is buying $26,000 tractors and declining a 4% 401k match at work. Just bad decisions.
@IsabellaJulialove
@IsabellaJulialove 5 ай бұрын
The problem we have is because Most people always taught that " you only need a good job to become rich. These billionaires are operating on a whole other playbook that many don't even know exists.
@TeresaGloria632
@TeresaGloria632 5 ай бұрын
It is remarkable how much long term advantage people like us have gotten by trying to be consistently not stupid, instead of trying to be very intelligent.
@JoseAaron-2
@JoseAaron-2 5 ай бұрын
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
@EvelynGrace-gs3ze
@EvelynGrace-gs3ze 5 ай бұрын
Many individuals report success in investing in stocks, forex, and cryptocurrency (Bitcoin), yet I continue to struggle. Can somebody help me out or advise me on what to do?
@RogerTerry01
@RogerTerry01 5 ай бұрын
Even with the appropriate method and assets, some investors will still outperform others. As an investor, you should already know that nothing surpasses experience, and that is final. Personally, I had to seek advice from a stock specialist, which allowed me to build my account by over $35k, extract my profit just before the correction, and now I'm purchasing again.
@ElizabethBarbara4
@ElizabethBarbara4 5 ай бұрын
The greatest technique for beginners is to trade with the supervision of an expert.
@Kyle-ms2et
@Kyle-ms2et Жыл бұрын
Someone making over 60k in Arkansas should not be in this situation at any age.
@durgan5668
@durgan5668 Жыл бұрын
Medical bills might have added to that, that will drain you in a hurry.
@Kyle-ms2et
@Kyle-ms2et Жыл бұрын
@@durgan5668 Yes, that could do it.
@slimdude2011
@slimdude2011 Жыл бұрын
@@durgan5668 With her financial situation, she may be eligible for Medicaid, if she's not already getting it and if not, she should apply for it.
@Jane-rh7tc
@Jane-rh7tc 7 ай бұрын
@@durgan5668what's interesting is the husband is still not willing to give up the hunting life style even with all the health conditions 😂
@Gypsy2057
@Gypsy2057 Жыл бұрын
Oh man, I wanted a tractor to till gardens so I bought a 76' Kubota L225. It's old, ugly and bent up but runs great and cost me $2,300. That was the way to go as I've been following Dave Ramsey's advice as much as I can. It works. I have to hand it to Dave, he's the best for just figuring out what someone can do to figure out how to get out of a hole. She'll be OK if she puts the company match into a 401(K) until 70. Because it's before tax it won't hardly be noticeable. Then she will have a much larger SS payment also.
@lifestream4191
@lifestream4191 Жыл бұрын
It has to be land-locked with no right-of-way or something crazy like that. I live near Little Rock and I can assure you there's NO 7-acre land value less than $4,000-$5000 per acre. Unless it's in a flood zone, or on top of crazy hill. Land like that, with utilities, would bring a premium.
@penguin12902
@penguin12902 5 ай бұрын
Yeah, the only way is if it's in between other private land with no legal access. Hell I would still probably buy it for that with the hopes that I could sell it to whoever buys one of the neighboring plots someday in the future to allow them to expand their land. He should have asked how much her HOUSE was worth...not the "extra land".
@chp19711971
@chp19711971 Жыл бұрын
I feel bad for her. I have been so lucky all my life. I am 52, no debt, 2 mini vans been paid for and my house all paid off! Lots of money in the bank and in my house with hardly no bills. But I don't go out and spend on new cars or stupid things that I really don't need. I been retired since I was 43 with more than enough to last me the rest of my life. But the way I was raised was different than most far as investing and saving almost everything I made since I was like 12 or old enough to go to work. But it does make me sad to hear about stuff like her story.
@Jane-rh7tc
@Jane-rh7tc 7 ай бұрын
what do you do when you retire that early? ppl talking abt retiring early, but i find life very boring having nothing to do every day. Hobbies can only last so long(and most cost a lot of $$ that savings may not be enough to support when retiring that early)
@la9863
@la9863 6 ай бұрын
Girl stop lying.
@moe4188
@moe4188 Жыл бұрын
I need to save this video 26 years from Now when it’s relatable to me
@fauxbro1983
@fauxbro1983 Жыл бұрын
or you can take steps today to ensure that doesn't happen
@opheliamyall2554
@opheliamyall2554 Жыл бұрын
😅. Come on. You will use this as a reminder of what not to do. ❤❤
@opheliamyall2554
@opheliamyall2554 Жыл бұрын
​@@fauxbro1983right
@moe4188
@moe4188 Жыл бұрын
@@fauxbro1983 I understand jokes and sarcasm are hard to read, but come on
@ShailynLMT
@ShailynLMT 3 ай бұрын
Or....... just hear me out...... never be in this situation?
@SHIVAYTFFF
@SHIVAYTFFF Жыл бұрын
Hi Dave & Team, Thanks for the incredible work you guys are doing for Financial Independence. I am Samir Kulkarni from India & Me & my Spouse have been following your Baby Steps since June 2020. Good News Is on Sep 01 2023 we have paid off our Home Loan & are Debt Free I owe Thanks from Moon to Back to Dave Ramsey off course your Insights for us are Better than we Deserve Gods Grace be with you & with Every Mankind....Amen
@kayv94
@kayv94 Жыл бұрын
"I told you, Imma country girll" shows you how oblivious she is.
@ykook7000
@ykook7000 Жыл бұрын
She's playing on ignorance
@margie909
@margie909 Жыл бұрын
I'm glad Dave called her out on that.
@christopherhoyt7195
@christopherhoyt7195 9 ай бұрын
It's ridiculous and very telling how she got into this predicament. How did she graduate college saying, "I'm country?" That tells you something about the authenticity of a large swathe of so-called higher education. Dave always rails about overpaying for a car so you can impress at a stoplight. What about going six figures in the debt so you can wear a university sweatshirt in the grocery store? College is an infomercial with an attendance requirement. These people sabotaged your life with debt for a communication degree, and you're going to hang an ad for them around your neck? Fool!
@lauracollins3451
@lauracollins3451 7 ай бұрын
I'm spending it all so there's nothing to take!
@Mitzi73
@Mitzi73 Жыл бұрын
Sell that tractor. Sell the property and downsize to a small house. She doesn’t have a lot of options.
@MrTmenzo
@MrTmenzo Жыл бұрын
Watch the video again goober her land is worth 5k which isn't much
@CarnivoreStork
@CarnivoreStork Жыл бұрын
@@MrTmenzo So she’s living in a teepee on her hunting land? Dave never asked her where she’s living. They have a house somewhere, But they need to downsize immediately, she will not be riding a tractor at 75 unless she’s insane. Elderly people need to get ready for Health crisis management.
@alisatjaden3906
@alisatjaden3906 Жыл бұрын
Sounds like paid off land that's been in family for a long time. Farming is a lifestyle & it would kill them early to downsize & live in some small house. Maybe boarding horses could bring in some extra income. PS riding a tractor is Awesome!! My friend was regularly riding one at 83, me in my 70s
@RalphieVII
@RalphieVII 10 ай бұрын
@@MrTmenzo I'm guessing she hasn't had the property appraised in 30+ years. The average price per acre in Arkansas is almost $16k. She's sitting on $100K+ in land
@allisonautrey2136
@allisonautrey2136 3 ай бұрын
​@CarnivoreStork She lives in Little Rock, Arkansas and her land is worth way more than that.
@kendrickb.9043
@kendrickb.9043 Жыл бұрын
One of my good friends and I talk all the time about our spending habits in the US. We both make really good money, and we see folks spending exponentially more on eating out, etc. We’ve got to tighten up y’all.
@BusArch42
@BusArch42 Жыл бұрын
Eating out is the destroying of your budget and health. I have some good friends who are generally pretty frugal people. Their only real indulgence is eating out. They have eaten from the day they started working after college. Every meal. They buy lunch and dinner out and bring leftovers home to eat for breakfast. We in contrast pack our lunches and make food at home. She is also a SHM since their first kid was born while both of us work while juggling home and kids. We are now almost 60 and it’s caught up with them. He is so tired and would like to retire soon. We are in solid financial shape, debt free with 4 M in assets. They still have a mortgage and only saved the 4% match in 401k instead maxing it out. Their health has also suffered. He is very overweight and she is stage 2 obese. Her joints are giving out and she can only walk about 1/4 mile. She developed diabetes by age 50. We are both healthy weight and green A1C. The big delta in our lifestyles in eating out. Sure it’s nice that I am FT now but I was PT for many years to take care of the kids and we had to pay for childcare. So our incomes weren’t that different. If they had eaten at home for the last 30 years they could have put 15% aside instead of 4%.
@musicman7297
@musicman7297 Жыл бұрын
People waste money more and more.
@tcshy1903
@tcshy1903 Жыл бұрын
Social Security pays very little! This would be my worst nightmare! It's on us to be debt free and have some money saved for retirement. Buying expensive cars and tractors is insane! And when one spouse dies and there's no savings it's rough. I've seen elderly widowed people barely scrape by.
@PInk77W1
@PInk77W1 Жыл бұрын
Me 62. Just started receiving SS. $1712 a month take home. I’m Happy
@debragiovine9797
@debragiovine9797 Жыл бұрын
If you made little income in your life time,,, your going to get a small SS check… The average SS is 1800.00 a month,,, look it up…
@georgewagner7787
@georgewagner7787 Жыл бұрын
Take home? Please don't tell me they tax it. Iwas just doing a budget based on what they said i get...
@BusArch42
@BusArch42 Жыл бұрын
@@georgewagner7787SS is taxed over a threshold amount.
@bunacat1
@bunacat1 Жыл бұрын
@@georgewagner7787 It depends on what your income is for the Federal Government. If you are below a certain threshold, you won't pay taxes on it. Several states also tax on SS depending on your age when you start taking your payments or what your income level is.
@alanbirkner1958
@alanbirkner1958 Жыл бұрын
We retired in 2002. I worked with people who routinely maxed out credit cards, ate in restaurants, and shopped. They drove new cars. We retired when our youngest graduated college. I am a cheapskate who talked my husband into saving money. Tina, Al's wife
@GDuncan8002
@GDuncan8002 10 ай бұрын
You two are so cheap, you share a free KZbin account.
@MarkPreston-su7nq
@MarkPreston-su7nq 9 ай бұрын
😂​@@GDuncan8002😂
@supernova11711
@supernova11711 2 ай бұрын
@@GDuncan8002😂😂😂
@Erikkurilla01
@Erikkurilla01 Жыл бұрын
Finance and Business books have been so helpful. I’m 55 and my wife 50 we are both retired with over $3 million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on FED for our misfortunes. Saving and investing lifestyle in the stock market made it possible for us this early, even till now we earn weekly.
@jessicasquire
@jessicasquire Жыл бұрын
You have done great for yourselves. I understand the fact that tomorrow isn't promised to anyone, but investing today is a hard thing to do for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.
@Lemariecooper
@Lemariecooper Жыл бұрын
That is so amazing, I’m trying to get onto the housing ladder at 40. I wish at 55 I will be testifying to similar success.
@jessicasquire
@jessicasquire Жыл бұрын
Thanks so much I was able to find her page and I already leave her a message.
@lakeishastone2777
@lakeishastone2777 Жыл бұрын
This is so amazing! Yall are still young and living a financial freedom life. I'm 35 and my husband is 39 we have been on Dave's plan since 2019 and I'm very proud of how we stuck to the plan. Plus we invest and have 401ks..We will be completely debt free once our home Is paid off. Can't wait to tell my story and see where we are In 20 yrs. This is so motivating. I wish we had started in our early 20s but 30s is better than never.
@bobjames6622
@bobjames6622 Жыл бұрын
BOT
@bclayton430
@bclayton430 Жыл бұрын
Dave’s hard swallow at 5:52 when she said she’d been paying on her student loans since 1999 🤯
@Daffodils2Daisies
@Daffodils2Daisies Жыл бұрын
I’m 32 and freaking out about in 30 years where I will be. I can’t imagine being 61 dealing with this.
@nessparadis6948
@nessparadis6948 Жыл бұрын
Same 😭
@mertm.995
@mertm.995 Жыл бұрын
Just move to Europe if you wanna avoid this American debt trap way of life
@Daffodils2Daisies
@Daffodils2Daisies Жыл бұрын
@@mertm.995 I totally would if I didn’t have family responsibilities here.
@o0usf0o
@o0usf0o Жыл бұрын
I’m 39 and I max out my 401k and Roth. These people give me a panic attack 😅
@DRventura333
@DRventura333 11 ай бұрын
agree. save whatever you can if you can. don't eat out. don't waste money on things you don't need. if you have kids, you don't have to buy them expensive toys. no one there to help except your own two hands.
@adamseidel9780
@adamseidel9780 Жыл бұрын
Yes. You should absolutely take the 100% return on money match rather than walk away from $2,700 a year
@sizweshongwe331
@sizweshongwe331 Жыл бұрын
This is sad, at 61 still owe student debt
@ykook7000
@ykook7000 Жыл бұрын
More like pathetic
@pep590
@pep590 Жыл бұрын
I wonder what degree it was for. Maybe that is why she is making 67k a year and not 35k.
@YT4Me57
@YT4Me57 3 ай бұрын
She's just been paying the minimum every month.
@zacharychubbuck6413
@zacharychubbuck6413 Жыл бұрын
My first job out of college was working for a 401(k) servicer and the amount of accounts I would see from retirement age people that only had a couple thousand in there was alarming. It was a really good lesson to learn secondhand on how important it is to start saving early and to NOT TOUCH your retirement and just let it ride and accumulate over time. I feel sorry for people in this position but it's your own responsibility to protect your assets and plan for your future.
@williammartinez840
@williammartinez840 Жыл бұрын
Some people do not get a financial education til late in life don't look down on them.
@neptunedawn7121
@neptunedawn7121 Жыл бұрын
I started saving for retirement when I was 38. However, I went to nursing school and I was forced to live on my IRA as I spent SIX years trying to launch a nursing career. I have accepted that I will be working until I am unable to.
@kensmith2796
@kensmith2796 Жыл бұрын
You are correct. I used to work for a Big 4 accounting firm and there was a senior manager that wasn't contributing to the 401k! This was someone who was probably making 180k/year.
@skateata1
@skateata1 Жыл бұрын
This is like watching Hoarders. It makes me feel better about myself. Like, ok, I'm not that bad off right now.
@BX-Edenwald
@BX-Edenwald Жыл бұрын
Vehicle debt is killer
@steelcastle5616
@steelcastle5616 Жыл бұрын
That tractor is what's killing them (and 23-year old student loan and personal loans). If the machine isn't producing food to eat and/or things to sell, it (and the other loans) is sucking them dry.
@michaelcarter266
@michaelcarter266 Жыл бұрын
The pattern in her life that lead to this was taking on debt and keeping it around with no worries.
@doggroomer3286
@doggroomer3286 10 ай бұрын
I'm 60 and I've been listening to David Ramsey for more than 30 years. in these years I was a single mom without help. I never married till I was 56 and was in line of having my home paid off within 2 years. I have surpassed my goal savings for retirement, and am still running my small dog grooming Salon. I've never had credit cards and saved up 20% for my home against the advice of 3 banks. My Dad told me about David Ramsey years ago, and even though my Dad has passed...I'm still on the Ramsey journey with my Dad! Thank-you to the Ramsey crew! I listen to all of you while I'm at work!
@R_Jon
@R_Jon Жыл бұрын
The only difference in my advice vs. Dave’s advice, and I’m one of his representatives, is that I would question the age of 67 for retirement. From my perspective, she has 0 years saved, so she has to work until she dies. Once she gets 1 year saved, she’ll have 1 year, etc. She has to do exactly what Dave suggested to get the debt gone, but I would push her to work as long as she physically can, or until her substantially older husband needs more care. The luxury of retiring at 67 is earned, and frankly, she hasn’t put anything away to be able to receive that benefit in life. It’s sad, but that’s the fact.
@TonyCox1351
@TonyCox1351 Жыл бұрын
Yup. People want to eat their cake and have it too…spend spend spend their whole life but still retire as soon as they’re able
@vickieclark5931
@vickieclark5931 Жыл бұрын
@@TonyCox1351 Yeah, that's why so many end up moving in with families or having to go back to work when they are in their 70s. They never should have retired in the 1st place cause they were far from ready. I would LOVE to retire. But I will not retire until my house is paid off and I have more funds in my retirement account.
@simplyme922
@simplyme922 Жыл бұрын
She needs to work to at least 72 so she can have working income and social security income for a couple of years to stacks chips.
@Dividendflywheel
@Dividendflywheel Жыл бұрын
Agree with your conclusion. Sad Painful reality of life. She MUST work as long as possible.
@joesmith3590
@joesmith3590 Жыл бұрын
She doesn’t even have time to really count on investing to save her. She only has a few years she just need to save everything. Starting retirement savings at 61 kills the compound growth. She be lucky to keep up with inflation on savings.
@dummgelauft
@dummgelauft 11 ай бұрын
The perfect consumer. ZERO self control. ZERO fiscal sense. Student loan at 61...unbelievable
@Amy-601
@Amy-601 Жыл бұрын
People, stop judging. Her husband’s had surgeries. Medical bills cost. People go through shit in life. We don’t know what she’s been through. I love ❤️ that Dave didn’t judge her and said it was possible to turn it around. With God, her changed mindset, a little bit of luck 🍀and Dave’s methodologies, anything is possible. My 2 cents, Amy
@lisab5904
@lisab5904 Жыл бұрын
She never once mentioned having medical debt. Praying she makes drastic changes, pays off her debts in 2 years ($69k = beans & rice cooked 100 different ways), then continues to work until she's at least 70, investing/receiving 401k match!! She won't be a millionaire, but she'll be fine.
@reader6690
@reader6690 Жыл бұрын
Well put. The fact that she has no savings could be due to: bills she didn't mention or simply life. Whenever someone says they have no money, we (including me), should not "assume" that the reason is foolish money management. Wages for millions of workers have been stagnant for decades. Add to that: an unexpected job loss or medical bills, and before you know it, you have nothing. That is REAL life.
@jeffrichey3623
@jeffrichey3623 Жыл бұрын
It is healthy to judge others choices when determining what are the better choices available. If you're saying that we should not condemn someone, I agree. But, it is perfectly normal to judge, especially when someone puts their life out there to be analyzed and picked apart on a radio talk show. My judgement, no one should wait until this age to start thinking about retirement. And I guarantee those surgeries did not occur in their twenties or thirties, likely not their forties, either. They decided to not care until it was too late to not care, which is their right. We all have our personal freedoms, but those freedoms come with personal consequences.
@kaelaleedaley
@kaelaleedaley Жыл бұрын
Just to remind you dear Sister - there's no luck with God, it's purely His Will and our Obedience to Him
@patty109109
@patty109109 Жыл бұрын
Rubbish. Call it like it is: this woman and her hubby lived paycheck to paycheck for decades and never applied the discipline they should have. She bought a tractor despite student debt from the 90’s.
@VerónicaMohamed-y9t
@VerónicaMohamed-y9t 9 ай бұрын
I wish I had more time for experimentation, but I'll be 50 by June, and I'm looking for ideas and suggestions on what investments to acquire to set myself up for retirement, especially with the looming inflation; my goal is to have at least $5 million by the age of 65.
@ImaneYadria
@ImaneYadria 9 ай бұрын
I feel your pain, as I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $130k in passive diversified safe-haven assets, Up 200k so far and pretty sure I'm ready for whatever comes.
@VerónicaMohamed-y9t
@VerónicaMohamed-y9t 9 ай бұрын
So who is the advisor that tutored you? And how can I contact them, i'm in need of their skillset.
@ImaneYadria
@ImaneYadria 9 ай бұрын
Lisa Ann Moberly, is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@VerónicaMohamed-y9t
@VerónicaMohamed-y9t 9 ай бұрын
Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.
@randymillhouse791
@randymillhouse791 9 ай бұрын
The name drop is coming.
@Spam387
@Spam387 Жыл бұрын
it makes absolutely no sense to not invest the 4% in company match 401K, its an instant double on 4% of your income...Dave has lots of good advice but sometimes misses the finer points
@eliza_kai
@eliza_kai Жыл бұрын
This is the heart of the good ol U S of A. This is very sad but so real. I’m glad she found your show and can get going some.
@steelcastle5616
@steelcastle5616 Жыл бұрын
I decided to take Social Security ASAP even though I don't need it! With the uncertainty of life span and the program's future, at least I'm able to be assured of getting some benefit from the system.
@augustalexander2647
@augustalexander2647 Жыл бұрын
Take every penny from your corrupt ass govt gorl
@GodisGreatt
@GodisGreatt Жыл бұрын
If you don’t mind me asking…how old are you? Do you have to pay taxes on it? Can you still work and get paid without thresholds?
@carlaritchie331
@carlaritchie331 Жыл бұрын
If working brings more income home, early retirement would not be smart in a case when there is no savings and still a huge burden of debts.
@steelcastle5616
@steelcastle5616 Жыл бұрын
@@GodisGreatt no problem...64, no taxes are paid on it as long as I don't EARN more than $21,240 per year. After that, for every $2 I earn, they'll reduce my SS by $1.
@steelcastle5616
@steelcastle5616 Жыл бұрын
@@carlaritchie331 I've heard that position. And if you want the math answer, then the accumulation of money is a logical focus. I chose to focus on quality of life over accumulation of funds. As I've grown older, I decided to travel to see relatives and friends (and places) before they pass away or get too old to remember me. I've missed out on several opportunities because of deaths and diminishing mental states of the people who have meant a lot to me in life. My pension and savings are enough for me to do this w/o SS. I see no reason to forgo an assured 70% of my FRA at 62 and bank on getting 30% or more years later due to an uncertain future (my death, benefit reductions, etc).
@TripSoul10
@TripSoul10 Жыл бұрын
My dad is about to be 61. He works a nice job past number of years despite him declaring bankruptcy years ago due to job layoff at time. He & my stepmom I like to see be in nice comfortable retirement in a few years.
@hooglieable
@hooglieable Жыл бұрын
That is scary, even more than the young people who call in with high 6 figure debts. They have time to fix it.
@DorathyJoy
@DorathyJoy Жыл бұрын
So much knowledge! Absolutely free! I was never taught anything about money, I am praying and working to change that. I am 46 no retirement no savings because I made a lot of mistakes when I started investing, trying to correct that now. Already have a few thousand$ saved up to invest for long term. I would like to know what advice you could give to start my investing journey. Listening to you gives me inspiration and wisdom. Thank you so much!
@nicolasbenson009
@nicolasbenson009 Жыл бұрын
Well, I recommend you make a diversification plan because it's been harder to build a good financial portfolio since COVID. My colleague suggested I hire an advisor. I did and I've actually made over $926K with my advisor's help during this market crash. She uses defensive strategies to protect my portfolio and make profits despite the ups and downs.
@nicolasbenson009
@nicolasbenson009 Жыл бұрын
Sure. There are a lot of independent advisors you might look into. But I only work with ‘Margaret Johnson Arndt’. and we have been working together for nearly four years. She has since provided entry and exit points on the securities I concentrate on. She's well-grounded and known, shouldn't be a hassle finding her page.
@SandraDave.
@SandraDave. Жыл бұрын
Thanks a lot for sharing man, I just looked ‘Margaret Johnson Arndt’ up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
@everlyisla6056
@everlyisla6056 Жыл бұрын
I'm in my late 40s and using Dollar-Cost Averaging (DCA) for my TD investments. My Colleague sold few stocks, and re-entering the market is proving to be quite challenging. By the way, I also have my eyes set on owning a Dodge Charger, and there's absolutely nothing wrong with that.
@MimaLopez-jt4vq
@MimaLopez-jt4vq Жыл бұрын
Good job. You can survive years without touching your savings? How much do you make? And how do you split is amounts saving, spending and investing?
@leocarter2065
@leocarter2065 Жыл бұрын
I have had some concerns about few share price movements and the current situation of our economy has opened my eyes to the importance of a good mentor that diversify your portfolio in general.
@johnsoncoleman1293
@johnsoncoleman1293 Жыл бұрын
I am looking to get into the markets, does anyone have an adviser that has made any notable changes to their portfolio? I am in the market for one. how can you tell a qualitative professional/how profitable has it been for you?
@jaydengabriel6932
@jaydengabriel6932 Жыл бұрын
I collaborate with an investment advisor, and I play a significant role in shaping her strategies through my decision-making. Our approach is primarily focused on maintaining liquidity, and we actively participate in money markets and currency trading. So, yes, I'm still engaged in the financial markets. Over the past two months, I've achieved substantial profits, and we consistently update my watchlist after rebalancing my portfolio. Currently, I possess a portfolio valued at $2 million, and she diligently manages all activities related to the account.
@leocarter2065
@leocarter2065 Жыл бұрын
Take the time to thoroughly research and prepare, whether it's by arranging a meeting or engaging in a phone conversation to address your inquiries. I never finalize any financial choices without first seeking guidance from my financial advisor. You can conveniently contact her through a designated contact form. The professional I collaborate with is Kayla Tabitha Rodrigues, who specializes in optimizing portfolio allocations. She boasts an exceptional reputation and offers valuable assistance when you provide a detailed account of your situation.
@wingberry123
@wingberry123 Жыл бұрын
One of my fears is to be old and broke. Who knows what would happen. The thought of it scares me.
@happylife7542
@happylife7542 Жыл бұрын
She is the perfect example why I listen to this show. Even thought I don’t 100 agree their methods after step 3 lol. Such as 15 % investment isn’t enough and such… or can’t use a credit card .
@JasonGroom
@JasonGroom Жыл бұрын
I agree, 15% is not enough, and $1000 is not enough for a starter emergency fund. It should be at least 1 month of expenses, preferably 2 months if you are older, or younger with kids.
@lacoradancy6329
@lacoradancy6329 Жыл бұрын
They are called baby steps for a reason. You could definitely do more depending on your detailed situation. Just don’t do any less that .15 after baby step 3
@happylife7542
@happylife7542 Жыл бұрын
@@lacoradancy6329 haha we know . We are self made at the age of 40 not counting home equity. Kids 529 since they had their social security number. Just saying I am listening to the show not because I follow his method And his teach isn’t the only way to get folks to reach their financial goals.
@shawnhicks619
@shawnhicks619 Жыл бұрын
I don’t really know Dave ramseys steps, I just started watching his videos, but here is what I have been doing for at least a decade. We have 20k in a separate savings as an emergency fund, we invest 15-20k a year in both our IRA accounts and our standard investment account. However we DO use credit cards, we each have one, for our regular purchases but pay the balance every month. The day we get the bill we write a check and put it back in the mail. We also take advantage of special 0% financing offers on our cards for buying vacations or big ticket items like replacement refrigerator ect. We then use the points on Amazon for purchases as both our cards have the ability to use the points on Amazon. We absolutely do not carry credit card debt outside the special financing window. We also only have 1 loan for a car, the others are paid for, and it will be paid off in about 2 more years or in half the notes term. We also are planning to stuff more into our investment account after 2 of our kids graduate. I hope to retire at 63, and want to make sure I have plenty in both my IRA and investment account so that I won’t have to take social security until 67. Not sure what I’ll have for sure but it looks like I’ll be able to draw about 48k before paying taxes if I stay where I’m at in my investments, which I won’t because we will be putting more in, so I hope I’ll be fine. I’ll just wait and see.
@bunacat1
@bunacat1 Жыл бұрын
@@JasonGroom I agree on the 15%, if you want to retire early, you need to be saving/investing more. Since Dave's thing is getting out of debt, I see why he only wants a starter emergency fund, because he wants to pay everything off as soon as possible. I think that once they save the 1K, they should start paying off debts but still put maybe $50 into the emergency fund every month. I also don't agree with not having credit cards. They can be great if you are disciplined enough to pay them off every month. I try not to use my debit card as it is harder to get your money back if there is fraud. You have to fight the bank if you don't notice it right away. This is why I check my accounts every few days as well.
@BernonCars
@BernonCars Жыл бұрын
$2000 car nowdays will cost an arm and a leg to keep it on the road though
@lot2196
@lot2196 Жыл бұрын
Maybe. Maybe not.
@jimroscovius
@jimroscovius Жыл бұрын
No it won't. That's about what my daughter's car is worth and no problems.
@DeportillegalAliens
@DeportillegalAliens Жыл бұрын
I would say 4 k civic
@lisab5904
@lisab5904 Жыл бұрын
Not if you buy a reliable brand...Honda, Toyota, etc.
@mikesmith-wk7vy
@mikesmith-wk7vy Жыл бұрын
7 acres for 4 grand dang in Louisiana/ Mississippi that would be unheard of . When I was looking for fun land 10 grand per acre was about as good as it gets . I would love to find that deal
@DebbieBennett-p5v
@DebbieBennett-p5v Жыл бұрын
Again they are uneducated. I'm sure people have tried to buy/steal it from them saymg that's all its worth. They obviously don't know the value in today's market. I know of someone that bought a building on a big parking lot for I think $40,000 and while the transfer was going through the seller tried to stop the sell because he found out the new owner already had a buyer for a million! You have to investigate and not rush on sell or buying real-estate
@Sweet_Southern_Pecan
@Sweet_Southern_Pecan Жыл бұрын
I think she was attempting to keep the value understated to throw off those who may know who she is. I could be wrong.
@Excalibur2
@Excalibur2 Жыл бұрын
​@@DebbieBennett-p5vthat's what I think. Out of touch, trying to sell a tractor they bought for fun because she's a "country girl" who probably would even struggle to climb on and turn it on. 40 years of this.
@nicomyth
@nicomyth Жыл бұрын
She mentioned "heirs" property, so it is worth that by division among the other heirs. The land is not solely in her name. It is also probably not clear titled at this point. That was what I understood.
@sblijheid
@sblijheid Жыл бұрын
@user-oq4ow9rr6z That is an investment of the century!
@georgeh.5126
@georgeh.5126 Жыл бұрын
This video should go viral, like every young adult entering the workforce needs to see this. Because this global collapse might end up being a part of us for a very long time, we need to be prepared. With inflation currently at about 9%, my current primary concern is how to maximize my savings/retirement fund of about $810k which has been sitting duck since forever with zero to no gains.
@aureliobjm
@aureliobjm Жыл бұрын
I'd advice you read up some good books on investing, or just you get yourself a financiaI-advsor that can provide you with entry and exit points on the shares/ETF you focus on.
@tommyers0
@tommyers0 Жыл бұрын
@aureliobjm I agree, having a portfoIio-advisor for investing is genius! Not long ago amidst the pandemic crash in March 2020, I was really having investing nightmare prior touching base with a license portfolio-advisor. In a nutshell, i've accrued over $550k with the help of my advisor from an initial $120k investment thus far.
@tommyers0
@tommyers0 Жыл бұрын
@bezosjesss The adviser that guides me is HEATHER LEE LARIONI. She works with Empower FinanciaI services near my old office so I see her often to discuss my business. There are a lot of independent advisors you might look into. But for me, her strategy works hence my result. She provides entry and exit point for the securities I focus on
@bobdole870
@bobdole870 Жыл бұрын
For anyone reading this, this comment thread is a SCAM 🚨🚨🚨 do not contact this person unless you want to get money stolen from you.
@musicman7297
@musicman7297 Жыл бұрын
The younger generations need their expensive cellphones, coffees, energy drinks, sneakers , eat out a lot , vaps ,pot and they don't really like to work. So in about 20 years there will be a major problem.
@QFUNNYNEWS
@QFUNNYNEWS Жыл бұрын
She's 61 with no money but brings home $67,000 annually?! she should have something saved by now at the age of 61. All those years worked from 21 to 61 and no money to show for.
@lakeishastone2777
@lakeishastone2777 Жыл бұрын
That's a decent salary but not if you drowning In debt. She has been living check to check can't save from giving it to lenders plus interest.
@adamseidel9780
@adamseidel9780 Жыл бұрын
She’s too busy buying $26,000 tractors to move brush around
@alinatamashevich3354
@alinatamashevich3354 Жыл бұрын
@@adamseidel9780 On some junk land too!
@graceg3250
@graceg3250 Жыл бұрын
Well, it costs around $45,000 to live in a studio apartment and have no emergency costs. And that’s only a little under what she’d take home after taxes. Also, we don’t know how long she’s been earning that much.
@QFUNNYNEWS
@QFUNNYNEWS Жыл бұрын
@graceg3250 well, what I'm saying is that she's 61 yrs old and has NOTHING saved..from age 21 to age 61, you should definitely have some money saved, working all those yrs.
@vikker8274
@vikker8274 Жыл бұрын
There ARE people that have worked in industry/mines, and God bless. But as a former realtor, when I hear emphysema/copd it was almost ALWAYS from smoking. Neighbor said he needed prayer for his chemo. Two days later he’s out on his front porch smoking.
@rethinkcps2116
@rethinkcps2116 Жыл бұрын
Harsh. True -
@ChynaDoll84
@ChynaDoll84 Жыл бұрын
I like how Dave says they are in emergency mode 😂... like all of a sudden he has panicked because she's in her 60s and no retirement funds. Newsflash Dave...there are many people in this same position. Please have more episodes like this with real down the earth families that have low income and no retirement.
@amireallythatgrumpy6508
@amireallythatgrumpy6508 Жыл бұрын
There is no reason people are in that situation other than a lifetime of stupidity.
@unpredictable913
@unpredictable913 Жыл бұрын
Never too late, you are right!
@jamescurrent8794
@jamescurrent8794 Жыл бұрын
Why do I have a feeling she will be in the same boat 5 years from now?
@steelcastle5616
@steelcastle5616 Жыл бұрын
I'd definitely make room in the budget for life insurance on the husband.
@CarlaQuattlebaum
@CarlaQuattlebaum Жыл бұрын
@@steelcastle5616 Hopefully he already has life insurance. Gonna be tough if she's just now getting it with his COPD and emphysema.
@PaulVanTiem
@PaulVanTiem 11 ай бұрын
She’ll be in the same tractor*
@Theegoaat
@Theegoaat 9 ай бұрын
@@steelcastle5616he's uninsurable at this point in his life.
@steelcastle5616
@steelcastle5616 9 ай бұрын
@@Theegoaat Good point...
@jayfilm3023
@jayfilm3023 Жыл бұрын
I love watching them scribble down as fast as they can, the numbers the caller gives them
@kayn2756
@kayn2756 Жыл бұрын
I hope she got a good life insurance policy on the husband.
@williamkinunu9026
@williamkinunu9026 Жыл бұрын
Thank you Dave Ramsey a lot of learning here on finances!
@workinonit9562
@workinonit9562 Жыл бұрын
This is very sad, no financial literacy at this age.
@ykook7000
@ykook7000 Жыл бұрын
Too far gone now won't pull it back anytime soon
@suzieparis6821
@suzieparis6821 Жыл бұрын
Im $4500 in debt with credit cards n im working to get rid of that but those high numbers are crazy
@JAF1323
@JAF1323 Жыл бұрын
Something tells me that she won’t change. Maybe she will. Her situation isn’t entirely hopeless; there’s still hope for her.
@garychristison763
@garychristison763 Жыл бұрын
Conversations with people in a bad financial situation usually follow the same script. I can't (do this, fill in) because (fill in) I call them can't because people
@RyanContreras72
@RyanContreras72 Жыл бұрын
I began my investment journey at the age of 33, primarily through hard work and dedication. I am to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity..
@philipcollen482
@philipcollen482 Жыл бұрын
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
@brittanynicolette9473
@brittanynicolette9473 Жыл бұрын
This is superb! Information, as a noob it gets quite to handle all of this and staying informed is a major cause, how do you go about this are you a pro investor?
@RyanContreras72
@RyanContreras72 Жыл бұрын
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $500k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
@KatherineAnderson-lm8bw
@KatherineAnderson-lm8bw Жыл бұрын
wow that’s stirring! Do you mind connecting me to your advisor please. I desperately need one to diversified my portfolio.
@blessingpaul5484
@blessingpaul5484 Жыл бұрын
Do you mind sharing info on the adviser who assisted you? I’m 40 now and would love to grow my stock portfolio and plan my retirement.
@tomstyles3280
@tomstyles3280 Жыл бұрын
Sad to see how many many people are drowning in debt. I have to get my ass in gear too buddy.
@motoman869
@motoman869 Жыл бұрын
Keep the land! Sell the tractor. I bought mine for 1800. Cleaned the carb and now its worth 4500. Will do everything yours does. Sell that tractor.
@CrabbyE8
@CrabbyE8 Жыл бұрын
They should have asked more about her retirement plan and the 4% match. Since she’s 61, the question should be, “can you access your retirement plan now?” If so, she should do the match and withdraw the money and get out of debt quicker. Her employer would be giving Her an extra $2,680/year and that’s free money. Remember, once you’re over 59 1/2, you can withdraw money with no penalty. Just talk to your plan administrator. 😊
@jacobmonti453
@jacobmonti453 Жыл бұрын
That’s a good idea. Except they would never say to take out of retirement before retirement.
@taylamayde
@taylamayde 10 ай бұрын
1:51 I use the tracker!!!(sternly).... Not anymore lol
@stevencole7331
@stevencole7331 Жыл бұрын
The other factor not looked at is to take care of your healrh . If you dont have that you dont have a retirement
@steelcastle5616
@steelcastle5616 Жыл бұрын
Really...you think the solution here is to live longer? It sounds like they don't have enough money to live out the month.
@stevencole7331
@stevencole7331 Жыл бұрын
@@steelcastle5616 if the husband wasn't disabled to begin with and took better care of himself in his life they may not be in this difficult situation .
@steelcastle5616
@steelcastle5616 Жыл бұрын
@@stevencole7331 Valid point, but some disabilities are not from not taking care of oneself.
@stevencole7331
@stevencole7331 Жыл бұрын
@@steelcastle5616 The illness reported in this segment is COPD and emphysema which most likely do to smoking which could have been preventable .Many illnesses are preventable with good lifetime health practices . It's not rocket science but for many it's difficult to accomplish in our society with such a promotion by corporations and advertisers to live unhealthy and rake profits without consequence to them except for the tobacco companies who have been paying ongoing litigation but still very profitable and legal to sell .
@margie909
@margie909 Жыл бұрын
@@steelcastle5616 i think the comment referred to smoking. Husband's Emphsema and COPD are probably from smoking. Sad.
@fglend73
@fglend73 Жыл бұрын
She needs to scrape together every dollar she can including the match. This is one area I disagree with Dave. At her age, having zero retirement is a dire emergency. She needs to take that match, and put everything else to debt. She's too old to give up that free money.
@mannyjeanpierre4062
@mannyjeanpierre4062 Жыл бұрын
The debt cancels out any retirement money she'd have. She should've started years ago thsts the real problem
@Chet_24
@Chet_24 Жыл бұрын
I think she pretty much needs to sell everything she has and maybe retire in Thailand or Vietnam.
@JasonGroom
@JasonGroom Жыл бұрын
​@@mannyjeanpierre4062the debt in no way cancels the match, which is what she should be doing
@megalodon1726
@megalodon1726 Жыл бұрын
I agree. She's old enough to withdraw from her 401k without the 10% penalty. She should put in enough to get the match, then withdraw the match amount and put it towards the debt (after paying taxes on the withdrawn amount).
@mannyjeanpierre4062
@mannyjeanpierre4062 Жыл бұрын
@@JasonGroom a 4% match on a 4% percent loan would cancel out the returns. Most loans are more than that and she doesn't have much margin to even invest. She should've paid off the loans during the forbearance and started investing when the market was 25% down.
@coffeecup3177
@coffeecup3177 Жыл бұрын
The other thing no one wants to think about is with a sick spouse on SS if he/she passes away that income is gone and you will need to get by with even less.
@Jane-rh7tc
@Jane-rh7tc 7 ай бұрын
hopefully by then she'll consider selling her tractor and hunting land for her retirement. she's obviously not convinced now she needs to give up on those yet
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