I'm Scared to Buy a $56,000 Truck

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The Ramsey Show Highlights

The Ramsey Show Highlights

Күн бұрын

Пікірлер: 669
@amandadean3948
@amandadean3948 4 жыл бұрын
I actually liked this caller. I don’t feel as if he was being braggadocious, I think he is so disciplined financially that anything that seems like excess concerns him.
@Kcducttaper1
@Kcducttaper1 4 жыл бұрын
Lol. 'braggadocious'! I've gotta remember that one!
@OopsFailedArt
@OopsFailedArt 4 жыл бұрын
Kcducttaper1 agreed that’s a great word!!!
@richardshaw4336
@richardshaw4336 4 жыл бұрын
Agreed. Can tell by his tone. Smart guy.
@krecikowi
@krecikowi 4 жыл бұрын
It is because you learn how to live frugal life. You buy used stuff, you do your own break replacements etc. etc. so you know how much it took to get you there.
@NAnone09
@NAnone09 4 жыл бұрын
@jumboshrimp He doesn’t DESERVE sh** he EARNED it!
@michellerichardson3090
@michellerichardson3090 4 жыл бұрын
She's so right. People spend so much time and effort saving for something and then when you can do it, you're to scare to actually spend the money
@mariogonzalez5107
@mariogonzalez5107 3 жыл бұрын
Recently paid off my 2013 tacoma and now paying off my dad’s dream truck, I’m about halfway there. I don’t intend to get into more car debt anytime soon. I’m so happy I found Dave Ramsey.
@kerstie2048
@kerstie2048 4 жыл бұрын
I’ve been driving a 2004 Toyota for years, I’m too scared of car debt lol
@NYVonix115
@NYVonix115 4 жыл бұрын
Kersten same rocking an 04 Corolla it’s my baby
@cantonio270
@cantonio270 4 жыл бұрын
Lol same here! My 2001 f 150 with 214k miles on it is still running.
@RJGPG
@RJGPG 4 жыл бұрын
And you will be for another decade!
@kerstie2048
@kerstie2048 4 жыл бұрын
Virtualhawk I have an 04 Matrix, Toyota’s are the best! 180,000 miles and still going strong!
@rudesoto
@rudesoto 4 жыл бұрын
Rolling in my 99 sierra 1500. 180,000 miles and it pulls to the right. No worries 👍
@mbabideric4259
@mbabideric4259 4 жыл бұрын
Graham Stephen: Hi Dave I worth $5m can I get some iced coffee from Starbucks???...
@56redjets
@56redjets 4 жыл бұрын
No. That 'drug' is too expensive. Go to dunkin donuts or mcdonalds if you need your speed fix lol.
@shanehaley8762
@shanehaley8762 4 жыл бұрын
Sell your car
@gizellegoffney5515
@gizellegoffney5515 4 жыл бұрын
😂
@michellepeng1899
@michellepeng1899 4 жыл бұрын
CUT THE COFFEE
@blackworldtraveler3711
@blackworldtraveler3711 4 жыл бұрын
I bought the stock in the 90s and it has been paying for my cafe mocha ever since.
@FreeAgent797
@FreeAgent797 4 жыл бұрын
I've had my 2011 toyota corolla for almost 5 years. I kept it even after graduating college and started making some pretty good money (6 figures). There's no better feeling than being debt free and at the same time watching your bank account grow dramatically. It can get a little addicting to be honest lol.
@logdon17
@logdon17 4 жыл бұрын
so true, i used to deep in student loan debt and scared at ever having a future. Now with $100k in the bank and $250k in equity in my house I still act like I am dead broke and try to save more. I look at giving my money away to anything other than investments as a mistake.
@User-g9b2c
@User-g9b2c 4 жыл бұрын
When I graduated high-school I think my biggest problem is I couldn't save money... at all. I had no emergency money I was BROKE because I wanted a car that was $24k making $10 an hour and bought it a week after starting work. Now that I finally have 20 thousand saved up and good credit because of my loan my next choice will be to have 2 thousand in the bank at all times no matter what, and buy my next car with a huge downpayment. (I'm 22) I couldn't be happier knowing I'll never go broke again it was the best financial decision of my life. I plan on spending $45k but this time with a game plan.
@EMichaelBall
@EMichaelBall 4 жыл бұрын
@O That cash, at this point, would be better served as an emergency fund, and paying off what other debt you still have. A Model 3 with FSD would be sweet, but you're likely not in the best financial place to afford that, or any $45k car, at this point in your life. We don't know what the job market will look like, but the Fourth Turning won't make it easy for everyone.
@gamerji-li4755
@gamerji-li4755 4 жыл бұрын
Yes current feeling now being debt free making 6 figs. I'm hoping to be a millionaire in like 10-15 years from now.
@trainman665
@trainman665 Жыл бұрын
@@User-g9b2cYou’re being financially stupid still. Don’t buy cars you can’t afford.
@rayj.9568
@rayj.9568 4 жыл бұрын
@1:20 Caller: "You might find this hard to believe, but your system is better than mine." 😁 Great line.
@devingreen2217
@devingreen2217 4 жыл бұрын
I hate car debt I was so desperate for a car 7 months ago. I signed high interest loan like 24 percent. But after a month I realized what I did. So I drove Uber for 4 days a week for the next 6 months and paid it off that way and store my work paycheck away. I think I paid off 17000 in 6 months that way
@Jonathan-tb6fm
@Jonathan-tb6fm 4 жыл бұрын
Uber actually works?
@1SavageQueen89
@1SavageQueen89 4 жыл бұрын
Wow! That’s great!
@yucoziabethea7578
@yucoziabethea7578 4 жыл бұрын
What does a typical Uber trip cost?
@nani1940
@nani1940 4 жыл бұрын
Congrats that's awesome!!
@nani1940
@nani1940 4 жыл бұрын
@@Jonathan-tb6fm yes!! Uber eats is especially making good money right now. However it's dependent on the area. You gotta know what neighborhoods are good.
@justinacase2623
@justinacase2623 4 жыл бұрын
This is a thing among newly minted wealthy. When you have worked 20 to 30 years building a nest egg, scraping by, saying no, it is almost impossible to let go of any substantial amount of money. Most people say, if I had a million or so I would buy all this stuff. Nope won't happen!
@b__w_4565
@b__w_4565 4 жыл бұрын
kontai69 ya most didn’t pull a Facebook or even flappy bird (if y’all remember that one? 😂). And become rich beyond belief within months to a few years. Most millionaires are...well...like us. Just way older lol. They worked long and hard to get the money they have.
@DewTime
@DewTime 4 жыл бұрын
vincentrich - Banned But Not Forgotten nah I don’t think people are thinking that way. Never heard anyone saying hanging on to money makes them feel young
@tintruck2885
@tintruck2885 4 жыл бұрын
vincentrich -I agree
@ashleyjohnson9205
@ashleyjohnson9205 4 жыл бұрын
Dave calculates as a percentage of worth, but emotionally I bet this guy is calculating based on how long (years, hours worked, sweat equity) it took to save or it will take to earn back. That makes it hard to let go
@DewTime
@DewTime 4 жыл бұрын
@@ashleyjohnson9205 Yeah that makes sense.
@mistermatsuda
@mistermatsuda 4 жыл бұрын
I get this guy 100%. I want a Tacoma TRD Pro but can't pull the trigger on one after saving for so long. I can literally cut a check to get one but it took so long to get here after being so stupid with money early in my life. Tough call, he needed approval.
@DozensOfViewers
@DozensOfViewers 4 жыл бұрын
I had the same issue. $120K in the bank, zero debt, retirement funds on track. Finally talked myself into trading my 20-year-old car for a new one. (Spoiler alert: paid cash)
@Yoyomanmanholla
@Yoyomanmanholla 4 жыл бұрын
dude just qualify for a 0% loan, earn some money with that principal rather than paying for it outright.
@DozensOfViewers
@DozensOfViewers 4 жыл бұрын
@@Yoyomanmanholla I had a choice of 0% or $1000 cash back. Took the cash.
@Yoyomanmanholla
@Yoyomanmanholla 4 жыл бұрын
@@DozensOfViewers at 0% it's free money! Why wouldn't you take it? Just be diligent and not miss a payment.
@armwrestlinginthe6ix
@armwrestlinginthe6ix Жыл бұрын
​@@Yoyomanmanhollayou will pay more in interest what's free
@Yoyomanmanholla
@Yoyomanmanholla Жыл бұрын
@@armwrestlinginthe6ix 0% loan, will cost me more money? If you miss a payment yeah sure.. autopay it?
@jasonhutch1429
@jasonhutch1429 4 жыл бұрын
Lol, I understand this guy. The only thing I ever spend money on is mutual funds, ETFs, and stocks.
@thomaseidson6374
@thomaseidson6374 4 жыл бұрын
Any of y'all focusing on the actual math of this call miss the whole point. This guy buying a $56,000 truck moves his needle very little the wrong way if it blows up the next day. This guy makes great money, has been responsible as a good steward of these resources in his life, and can enjoy the fruits and increase of his good stewardship. Maybe some of you should quit focusing on the math mistake and focus on the behavior that made this caller a HUGE success.
@JasonWhiteVideos
@JasonWhiteVideos 4 жыл бұрын
I'm not in the caller's position, but I've always been frugal. The thought of spending $56k on a vehicle terrifies me, but I recognize it doesn't move the needle much for John. Still, I could buy a nice used truck for $30k and find other uses for the remainder.
@nephetula
@nephetula 4 жыл бұрын
Dave, that's not point-0-five percent (.05%), it's actually 4.6%.
@begoodtoothers3233
@begoodtoothers3233 4 жыл бұрын
He lived like no one else so that now he can live like no one else! Go buy your truck, you deserve it!
@Jp-gc6bh
@Jp-gc6bh 3 жыл бұрын
This is really good, I’m young and work construction. My boss is old and obviously makes money, he only buys what he needs and his work trucks are always base model trucks for towing trailers and stuff. He finally bought a new truck for himself to enjoy and he sold it... he couldn’t stand the fact he spent 60k on it lol
@jwonz2054
@jwonz2054 4 жыл бұрын
4:10 - Dave mis-spoke, 56k from 1.2m is 5% not 0.05% !!
@FXPhysics
@FXPhysics 4 жыл бұрын
Yup. That rang my eardrums too!
@egs123able
@egs123able 4 жыл бұрын
Dave constantly talks about math. He needs to be able to do basic arithmetic. He is live but big deal, it's a simple calc based in his experience. The person in his ear should have corrected him instantly.
@goraidersndodgers
@goraidersndodgers 4 жыл бұрын
@@egs123able People give him too much credit. He's not some financial genius. He gives common advice which is pay off your debt and start saving.
@rick9705
@rick9705 4 жыл бұрын
he was probably thinking in his head multiply 1,000,000 x .05 and it just came out wrong. No doubt the guy knows it was 5%... Calm down keyboard mathematicians...
@kenny3269
@kenny3269 4 жыл бұрын
.05 (written as a decimal) is 5%.
@rhpham2
@rhpham2 4 жыл бұрын
Yep feels good to pay off debt rather than bring more into your life. My wife wants to get a new car as she recklessly damaged hers but engine still perfect as I take car of it. 2010 Honda Accord. We still paying our 2000/month mortgage for the next three years and told her she has to wait.
@CaseyBurnsInvesting
@CaseyBurnsInvesting 4 жыл бұрын
If you don’t value it more than the money, don’t buy it. Plain and simple.
@Michael-ke8on
@Michael-ke8on 4 жыл бұрын
So true, Casey.
@kalelauer2420
@kalelauer2420 3 жыл бұрын
That’s spot on sir
@thomasbrown7728
@thomasbrown7728 3 жыл бұрын
I’m 60, and I can’t justify paying that much for a truck , cause I remember when things didn’t cost that much. I have a 1994 Chevy, runs great.
@bobufo5729
@bobufo5729 2 жыл бұрын
Cause your not a millionaire
@jamesmanson2152
@jamesmanson2152 4 жыл бұрын
5:07-5:28 The lady on the left must be listening to some heavy metal!
@InvalidFingerprint
@InvalidFingerprint 4 жыл бұрын
I don't know why, but this put me into a crazy laughing fit
@interceptingfist5682
@interceptingfist5682 4 жыл бұрын
🤣🤣🤣
@irvinsanta
@irvinsanta 4 жыл бұрын
I like these kind of vids. It motivates me more.
@clericstorm2009
@clericstorm2009 4 жыл бұрын
Idk about this, my own modest retirement plan calc shows $2 million is needed for a comfortable retirement. Id advise against the truck until he does the same. We are all just a couple nights in the hospital away from bankruptcy.
@demetrius8594
@demetrius8594 4 жыл бұрын
Lol what? You could retire at 20 with 2 million invested and most likely never draw down principal. 7 percent annual returns would be 140k, withdraw 3 to 4 percent per year and live off 60-80k per year.
@clericstorm2009
@clericstorm2009 4 жыл бұрын
@@demetrius8594 perhaps trailer park people like you can get by on that 30 years from now, others have higher standards
@BLACKMONGOOSE13
@BLACKMONGOOSE13 4 жыл бұрын
That’s exactly how much my truck cost. Made one payment the day I bought it from the dealership. It’s possible, but not before I found Dave.
@jacobriverson3807
@jacobriverson3807 4 жыл бұрын
If you plan to keep it 10-15 years I think it’s ok. I purchased a $40k Mustang GT this spring and plan to run it until I die and that’s hopefully 50+ years away.
@javadose317
@javadose317 4 жыл бұрын
The bank purchased it? It’s a mustang you’ll regret it and want a truck or suv down the road don’t lie.
@Tool0GT92
@Tool0GT92 4 жыл бұрын
The only way it will make it 50 years is if you store it.
@bensondentalassociates8690
@bensondentalassociates8690 4 жыл бұрын
636 Killer You ain’t wrong. Got a camaro at 17 and now I wish I had just gotten a toyota corrolla or a truck 😂 too late now, but i’ll be fine
@Mr.Walker994
@Mr.Walker994 4 жыл бұрын
Make sure the vin starts with wb ;)
@MuzikChannell
@MuzikChannell 4 жыл бұрын
636 Killer I’ve had my mustang for 3 years. I still look forward for driving it every single day
@vicepresidentmikepence889
@vicepresidentmikepence889 4 жыл бұрын
Lol...Another Dave, I have a million dollars. Should I buy this new couch??
@brandonmcmillan9641
@brandonmcmillan9641 4 жыл бұрын
Lol. You beat me to it
@James-vj5hz
@James-vj5hz 4 жыл бұрын
They didn't get a million dollars by spending all of it.
@cutehumor
@cutehumor 4 жыл бұрын
don't hate, appreciate!
@ducks-on-quack
@ducks-on-quack 4 жыл бұрын
No. This guy is spending 5% of his net worth on a liability, not .05%. Dave should've told him it was foolish. He should be pulling a maximum of 5% per year out of his retirement accounts
@Ecyrb2061
@Ecyrb2061 4 жыл бұрын
@@ducks-on-quack think you're the first to realize this
@jimroscovius
@jimroscovius 4 жыл бұрын
Why do people with no problems call??
@lynetterice8413
@lynetterice8413 4 жыл бұрын
Right!!😂🤣🤪
@rerako4755
@rerako4755 4 жыл бұрын
At times people want a push or pull when they are on the fence. Though honestly occasionally uplifting to hear non-issues.
@JoeyBarb87
@JoeyBarb87 4 жыл бұрын
To make dave look good.
@alvick353
@alvick353 4 жыл бұрын
It is all relative, people who make better choices have better problems.
@thomaseidson6374
@thomaseidson6374 4 жыл бұрын
He does have a problem. Emotionally he cannot wrap his head around the idea and actual fact he is a millionaire, that he should not feel guilty for his desire to buy an AWESOME truck and the fact that has the resources to do it without talking on an 600-800/month car payment.
@redman3583
@redman3583 4 жыл бұрын
I feel that way about my truck. I saved for it, paid cash for it, but it is so hard to do, and I bought an 09 GMC for $14,000. I know that weird feeling.
@lvluptoaverage52
@lvluptoaverage52 4 жыл бұрын
For the people that want to say that these guys want to gloat about their money. You guys are wrong. This is the reason he is a millionaire and we are not. It gets ingrained in them not to spend money. I went from 25k household income where every cent had a specific purpose to now about 150k. It is very difficult to spend money even when I know I have it. For example or my workers under me drive way better cars than I do. They don’t understand how I am their boss I drive a 5k car and they drive a 15 to 20k cars.
@untouchable360x
@untouchable360x 4 жыл бұрын
This guy only has 10-20 years left in his life. He needs to enjoy the sacrifices he made.
@rick9705
@rick9705 4 жыл бұрын
yep, gotta swallow the pride a bit to not go "buy" a $50,000 truck just because we can. The one I'm driving is 10 years old. But we're being weird I guess going after that peace and true wealth down the road.
@coasteyscoasteys
@coasteyscoasteys 4 жыл бұрын
@@untouchable360x They say the best things in life are free... For cars you only need a good comfy seat, great ac and airbags
@deuteriumjones
@deuteriumjones 4 жыл бұрын
Dude is actually worth 2mil Dave didn’t listen.
@grantv2313
@grantv2313 4 жыл бұрын
He never counts the house. You have to live there. Maybe you haven’t listened. ;)
@donc2446
@donc2446 4 жыл бұрын
Dave did miss it.
@ManuelHernandez-xt8pr
@ManuelHernandez-xt8pr 4 жыл бұрын
@@grantv2313 oh but he did count the house! 700K 401k + 450k house is what he included. He missed the other 750k!
@charlesjackson1588
@charlesjackson1588 4 жыл бұрын
700k in 401, 70 in other retirement account plus the house is about 1.2m
@ManuelHernandez-xt8pr
@ManuelHernandez-xt8pr 4 жыл бұрын
@@charlesjackson1588 haha the confusion is that the caller seemed to hesitate when he said 7-70, just like he confused Dave with 50-6 thousand.
@hothotheat3000
@hothotheat3000 4 жыл бұрын
Fear is a GIFT. Fear stops you from doing foolish things and getting into situations that you will regret. Having said that, if you’ve done your research, if your finances are in order, and you aren’t buying on impulse or buying to impress others, go for it.
@herbertscott9575
@herbertscott9575 4 жыл бұрын
This reminds me of those old Suze Orman "can I afford it segments".....Hey Suze, we make 200,000 a month, our expenses are 2000, we have $10,000,000 in retirement and 200 million in savings...we want to buy a used PS3 for $150 bucks , Suze, can I afford it?
@hjames999
@hjames999 4 жыл бұрын
😂😂😂
@cutehumor
@cutehumor 4 жыл бұрын
don't hate, appreciate!
@woodyglendell7400
@woodyglendell7400 4 жыл бұрын
Haters gonna hate! I hate!!!
@gwinbeer
@gwinbeer 4 жыл бұрын
Suze "Ah so you are from Venezuela and these currency are in Bolívar soberano (Bs.S)? Let's see... 150 USD is 43,343,073.00 Bs.S as of 08/13/2020. Ok that just blow through your retirement money, or you need 216 months of income.... or it would put a dent on your savings by 20%. I'm so, so sorry honey."
@stefanossmitty3318
@stefanossmitty3318 4 жыл бұрын
Right! Having enough money to comfortably meet your needs and not rely on anyone should be the goal. I do not see the point of people hoarding money to the point where they deny themselves such simple pleasures like driving a car with power windows or going to Paris for a few days.
@krecikowi
@krecikowi 4 жыл бұрын
It is because you learn how to live frugal life. You buy used stuff, you do your own break replacements etc. etc. so you know how much it took to get you there.
@MoDawdy
@MoDawdy 3 жыл бұрын
surprised the recommendation wasn't to make a compromise and buy a less expensive truck to satisfy both conflicting points
@billgateskilledmyuncle23
@billgateskilledmyuncle23 4 жыл бұрын
To me, the only truck worth 56k is one with Peterbuilt on the front.
@loke8032
@loke8032 4 жыл бұрын
Facts!
@GBgrenade
@GBgrenade 4 жыл бұрын
@@loke8032 hmmmmmm havent been inside one, but i might have to grab a ken w900 brother :)
@loke8032
@loke8032 4 жыл бұрын
@@GBgrenade they nice too
@billgateskilledmyuncle23
@billgateskilledmyuncle23 4 жыл бұрын
Well, a semi pays for itself and typically goes like half a million miles.
@TheDriller100
@TheDriller100 4 жыл бұрын
More like 150k
@olliehopnoodle4628
@olliehopnoodle4628 4 жыл бұрын
I drove used cars until I was in my fifties and I kind of understand what John is going thorough but I also understand the math.
@Thundarr995
@Thundarr995 4 жыл бұрын
I drive a 97 S-10. It's been a good little truck and it's done everything I've ever needed it to. I paid $2k for it back in 14. I'm driving it till it won't drive no mo. I don't want a auto payment.
@user-tb7rn1il3q
@user-tb7rn1il3q 4 жыл бұрын
S10s seem to never die.
@BratleyScott
@BratleyScott 4 жыл бұрын
I have a 93 that I bought for $1,100 back in 2006. Still going strong. Probably going to be my son's first ride when he turns 16.
@glaucusyellow
@glaucusyellow 4 жыл бұрын
Another "Hey Dave, I have a $1,000,000, is buying food OK?"
@jacobstrouble6631
@jacobstrouble6631 4 жыл бұрын
Dave: So you're a millionaire Caller: Yeah, I guess so. Dave: Yeah, me too. LOLat all those broke bums.
@adolpholiverbush5867
@adolpholiverbush5867 4 жыл бұрын
I feel attacked
@petebusch9069
@petebusch9069 4 жыл бұрын
@@adolpholiverbush5867 Why?
@STeroidsnicca
@STeroidsnicca 4 жыл бұрын
😂
@gamerji-li4755
@gamerji-li4755 4 жыл бұрын
One day I won't be a broke bum lol. Net worth is only like 20k right now lol, but I'll get there!
@mjuberian
@mjuberian 4 жыл бұрын
He said he has 700 in his 401k 700 dollars not 700000
@MrCoxmic
@MrCoxmic 4 жыл бұрын
math vs emotion; facts don't care about your feelings
@josephj6521
@josephj6521 4 жыл бұрын
If you keep that $56k truck for around 15 years, it’ll cost you in real terms (not including maintenance) around $3,700 per year if the truck was valued at $0 by the time you get rid of it. Obviously it’ll be worth something, so consider the remainder as a bonus. Can you afford to lose $3,700 per year? If the answer is yes, go for it. Don’t sell it within the first 10 years! It loses most of its value in the first 5, then slows down until 10 and after 10 years, depreciation slows to a crawl.
@ethereous
@ethereous 3 жыл бұрын
4:58 BRUH HE JUST LAUGHED LIKE GANNON. RUN DAVE, RUN!
@CaseyBurnsInvesting
@CaseyBurnsInvesting 4 жыл бұрын
Dude is worth 1,945,000. 56,000/1,945,000 = 2.87% of your net worth. Even so. If you don’t want to spend it then don’t. Withdrawing 4% of net worth per year, that’s 71.5% of your budget. That’s why it doesn’t feel right.
@forresthodge1024
@forresthodge1024 4 жыл бұрын
He's not retired though.
@3monsterbeast
@3monsterbeast 4 жыл бұрын
I love his aspect on giving
@rossedwardmiller
@rossedwardmiller 4 жыл бұрын
NoVA is no joke. He’s pretty middle of the road for Arlington. Being from the Baltimore area, I usually trash DC area people, but the guy is very down to earth and pretty cool honestly.
@eddygoodwin7089
@eddygoodwin7089 3 жыл бұрын
It’s not a matter of being scared it’s a matter of stupidity.
@chedbeckford8067
@chedbeckford8067 3 жыл бұрын
Hey Dave, I'm a millionaire. Should I buy a truck? Lol these questions are ridiculous
@alessandrogrosso7896
@alessandrogrosso7896 3 жыл бұрын
Fake af
@markyouneva7840
@markyouneva7840 4 жыл бұрын
Hi Dave, I'm 110k in student loan debt and i make 56k per year and I was thinking about leasing a 56k truck. BUT PLOT TWIST: I have $725 in savings. I know you're gonna say I'm approved!
@jamesl.a.n6394
@jamesl.a.n6394 4 жыл бұрын
I’m worth more than this guy and I never would spend this much on a vehicle. But I did spent $10k on a bike. So to each his own.
@Iffy50
@Iffy50 3 жыл бұрын
4:16 Your net worth would drop 0.05%. No, it would drop 5%.
@dannyhowarth1728
@dannyhowarth1728 3 ай бұрын
Thought same thing, almost second guesses myself
@jvolstad
@jvolstad 4 жыл бұрын
$56K for a truck? Ouch. Three years ago I was thinking about buying a Porsche. I'm debt-free and have the cash. I've always wanted a Porsche, but at the same time I had other things I wanted to do with my investments. In particular, charities that I support. The decision was easy to make, and my current ride is a Honda Accord.
@mxerb5912
@mxerb5912 4 жыл бұрын
Talk about braggadocios
@chloenchad
@chloenchad 4 жыл бұрын
Me: I want a $60,000 Food Truck my income is 30,000 A Year ;My Credit Score 702 Dave: You Can’t Afford A Bus Pass
@edgartrevino8846
@edgartrevino8846 4 жыл бұрын
🤣🤣
@gamerji-li4755
@gamerji-li4755 4 жыл бұрын
😂
@DandyFinance
@DandyFinance 4 жыл бұрын
I wonder what it's like to spend 50k on a truck in cash and don't have even one worry about it.
@robnelson6545
@robnelson6545 4 жыл бұрын
I’m sure he can’t buy it with cash. He probably has his money tied up in stocks.
@HankTheTank23
@HankTheTank23 3 жыл бұрын
@@robnelson6545 Well, then he would sell his stocks to buy it.
@IAmJustSaying6
@IAmJustSaying6 3 жыл бұрын
I've never owned a brand new car. Always bought lease turn-ins.
@richardguthrie3422
@richardguthrie3422 4 жыл бұрын
He's worth about 2 million. He says he has 1.4 million in 2 retirement accounts. 2:05
@robedmund9948
@robedmund9948 4 жыл бұрын
$700 in one 401k and $70 in another account, plus a paid off house.
@enobur
@enobur 4 жыл бұрын
I bought a 2018 Toyota for 30k in Feb. I put down 10k, and have paid off an additional 12k since thanks to Dave. Only owe 8k left. Almost there.
@thecatnextdoor12
@thecatnextdoor12 4 жыл бұрын
Did Dave sent you a check for 12k?
@enobur
@enobur 4 жыл бұрын
The Cat Next Door he sent me a reality check.
@billgateskilledmyuncle23
@billgateskilledmyuncle23 4 жыл бұрын
If I were him, I'd pay like 30k for a vehicle, cash. 56k still feels like highway robbery.
@magicman9321
@magicman9321 4 жыл бұрын
Yup buy a basic feature truck for about 28k and spend 5k on upgrades.
@thomaseidson6374
@thomaseidson6374 4 жыл бұрын
It's not up to you, and you are not him.
@billgateskilledmyuncle23
@billgateskilledmyuncle23 4 жыл бұрын
@@thomaseidson6374 oh whoopty dooh captain obvious. If it's such a private matter then don't call into a national radio show and ask the host's advise. Once you place something into public domain, you accept public opinion and scrutiny.
@Lee-dn3ou
@Lee-dn3ou 4 жыл бұрын
I also would have a hard time spending that much on a truck and I'm at a point I could but as Dave said if you can easily afford it and want it why not.
@tymom9313
@tymom9313 4 жыл бұрын
Truck that he wants is $56k and he can afford it. Buy the truck!
@DanielGarcia-zz9eg
@DanielGarcia-zz9eg 4 жыл бұрын
If you got the money in cash, go for the 0% and set it up for automatic payment With another checking account set up with the total money for the truck . This way in case the truck gets total / burn down/ stolen Gap ins will cover the difference. Because we all know the vehicle Depreciates badly 56k at Dealer 1 year later total out Ins check for 36k Just saying
@mxerb5912
@mxerb5912 4 жыл бұрын
Could be used
@modernbear7172
@modernbear7172 4 жыл бұрын
Or he could just get vehicle replacement coverage on his insurance. It doesn't cost much extra and they pay what it would cost to replace the vehicle at the time of the accident, no depreciation. It's a lot simpler than getting a loan he doesn't need.
@Iceman-xe7jo
@Iceman-xe7jo 4 жыл бұрын
This guy has my mind set. I hate to part with money on big purchases even though I may have it.
@chicanopowers4938
@chicanopowers4938 4 жыл бұрын
Growing up poor and then becoming wealthy by being thrifty and working hard, it's not easy to spend big bucks on things other than real estate or stocks. Success at anything is a matter of certain habits that can be developed with repetition, and buying new cars is not a good habit as a rule, however there comes a time when your the exception to the rule.
@durayenterprisesllc4440
@durayenterprisesllc4440 11 ай бұрын
4:13 that's 5 percent, not "point oh five percent." 5% is 1/20th. .05 is also 1/20th .05% is 1/2,000th.
@armandopacheco-soto3592
@armandopacheco-soto3592 4 жыл бұрын
My 1997 f250 with a 7.3 has 321,000 miles. Won't even set foot on a dealership because these new pickups are house payments on wheels. Get an old one, modify it upgrade it do some cosmetics.
@valvejob4215
@valvejob4215 4 жыл бұрын
I was kicking the idea of getting a gladiator. Got a 60s c10 for a fraction of the cost and i can fix anything on it myself. New trucks and their prices are a joke.
@dwightschuette8960
@dwightschuette8960 4 жыл бұрын
Go buy it. Everyone will be scared of you when everyone sees that truck.
@scottengh1175
@scottengh1175 3 жыл бұрын
It's hard to release $56k for a truck. Good. Dave has a better plan than 99% of others. You betch ya. My truck is a 2003 Chevy. Bought it new.
@MaggotMuseum
@MaggotMuseum 4 жыл бұрын
Is this normal for a truck to cost so much? I live in a city that is not truck friendly so I don't know much, but it seems like major companies are gauging people because of demand for trucks. Have trucks always been relatively expensive or is something that has exploded recently? I love listening to Dave and tend to hear a lot about expensive trucks. I get that people need them for work, but it just seems like such a high price to pay...
@chrisgossman4522
@chrisgossman4522 3 жыл бұрын
I can buy an older one for $10,000 and fix it for way less. My 2006 is great. 130,000 miles. I will rebuild whatever I need to to keep it on the road.
@DougAlesUSA
@DougAlesUSA 4 жыл бұрын
As someone who’s net worth is similar to that of the caller, my worst financial mistake was to tell someone else my net worth. Doing that damaged our relationship. They expected me to pay for things for them I would not purchase for myself. Never again.
@tyler64360
@tyler64360 4 жыл бұрын
Can you buy me a $56k truck 🤣
@DougAlesUSA
@DougAlesUSA 4 жыл бұрын
tyler64360 🤔. 🤣🤣🤣 Seriously, purchasing new materialistic objects does not bring me joy. Improving materialistic objects does bring me joy. I’d rather restore a vehicle then buy a new one. Same with a boat, house,....etc. I’m currently between home ownership, and 100% ready to buy with cash when I find the next home. When I completed my current landlords application, she didn’t believe my bank balance, saying that’s more then her net worth, LOL.
@backroom12
@backroom12 9 ай бұрын
Never be scared when you worked hard and are able to buy yourself nice things . We only live once , if you want it and comfortable in your money to buy it . Buy it .
@jorgerp86ify
@jorgerp86ify 4 жыл бұрын
I had a friend who, makes about $45K/year, buy a brand new jeep for $56K. My gut wrenches whenever I remind myself.
@kathyevans110
@kathyevans110 4 жыл бұрын
People may make fun of someone that has a "spending problem", but it's a real issue. My husband and I are EDMs on BS7, and he still will not spend money. It's his mind set. He gets anxious whenever we spend more than $1,000 on something. I just look at it from a point of security and that I'd rather have that issue than not have enough money.
@ericwilliam7949
@ericwilliam7949 4 жыл бұрын
I have a question for Dave or his people or someone so I’m 22 and just bought my first house I put 20% down (40,000$) and Andy currently renovating it after it’s finished I plan to rent it out and buy another one and keep doing that every couple years and hopefully eventually start my own home management group and make a career out of it should I be trying to pay off this first one and then buy the next? I always planed on haveing 20% in and then buy the next thank you
@ericwilliam7949
@ericwilliam7949 4 жыл бұрын
McMoto250 well then my question becomes how much risk is good risk then I plan on investing in both stocks/ mutual funds for retirement but I plan on putting a chunk into creating passive real-estate so should I have my personal home payed off first and then 20% per house or more like 40% per house I haven’t seen him talk about this
@usmc2141ilya
@usmc2141ilya 4 жыл бұрын
Biggest problem in Virginia is property tax on a car, specially in Arlington for a 56k truck he would pay 3-3.5k every year JUST in taxes.... No thanks.
@NickSiekierski
@NickSiekierski 4 жыл бұрын
$56k is about 5% of the guy's $1.1 million net worth, not "0.05% of your net worth" like Dave said. 5% of your net worth rolled into a truck isn't insignificant.
@appleztooranges
@appleztooranges 9 ай бұрын
Bought a. 2023 trd pro just because I could! Worked hard and could care less. Good for me
@puck30
@puck30 4 жыл бұрын
I own a 2000 Ford Focus brought at an auction for $700 at an auction. Put new tires, battery and had it detailed.
@richardshaw4336
@richardshaw4336 4 жыл бұрын
I love Dave.....He's burning cash in his front yard....😂😂
@cosmomontanaro5759
@cosmomontanaro5759 7 ай бұрын
Um...you can buy it, but why? Unless you need it for something specific like towing a heavy trailer, a $56,000 F150 will do the same thing as a $26,000 Maverick. I guess it has better snow performance, but this is Virginia we're talking about, so not really an issue.
@nepatriots77
@nepatriots77 4 жыл бұрын
5% isn't some non-issue. It's huge! if you said .5% sure.
@Cmimss
@Cmimss 4 жыл бұрын
Who else ready to be a millionaire!!!!
@The.Man.WithAPlan
@The.Man.WithAPlan 4 жыл бұрын
Yeah in my dreams not reality
@The.Man.WithAPlan
@The.Man.WithAPlan 4 жыл бұрын
@@JM-dk4ec yeah heard that 46 years now might as well as my dead mother to make me dinner tonight. Bunch of BS
@The.Man.WithAPlan
@The.Man.WithAPlan 4 жыл бұрын
@@JM-dk4ec yeah no reply now
@gamerji-li4755
@gamerji-li4755 4 жыл бұрын
Yep and will be!!
@lavendarj7318
@lavendarj7318 4 жыл бұрын
I have been doing Dave Ramsey so long.. i hate spending money at Taco Bell.. lol i am so tight with money now 😫
@jimhandler1129
@jimhandler1129 4 жыл бұрын
same here. It's creating a saving behavior. It's actually addicting to save as much as possible.
@blackhoodiefitness5862
@blackhoodiefitness5862 4 жыл бұрын
Hey dave i have $1,000 saved can i buy a pack of pens for school they are $1.56???
@vanessamarquez5977
@vanessamarquez5977 4 жыл бұрын
Obviously not! You only have $1,000, no room for spending a penny bud.
@blackhoodiefitness5862
@blackhoodiefitness5862 4 жыл бұрын
@@vanessamarquez5977 lol thank you, i just didn't know if i should spend it. no need to call dave now :)
@stonkedup
@stonkedup 4 жыл бұрын
You need to sell your car
@javadose317
@javadose317 4 жыл бұрын
How much is in your retirement and 401k? What about emergency funds? I’m familiar with those pens they are nice!
@blackhoodiefitness5862
@blackhoodiefitness5862 4 жыл бұрын
@@javadose317 all together 2.6 million but im going to hold off on the pens, until i talk to dave
@beastfromtheeast9318
@beastfromtheeast9318 4 жыл бұрын
He’s a millionaire without the paid for house.
@bdevlin
@bdevlin 4 жыл бұрын
The caller said it twice, "the house is paid for". Go back to 2:17
@petebusch9069
@petebusch9069 4 жыл бұрын
@@justinmusic1296 what did he leave out?
@gus4198
@gus4198 4 жыл бұрын
Justin Jones he said 700 and 70, which equals 770 TOTAL
@beastfromtheeast9318
@beastfromtheeast9318 4 жыл бұрын
Gus no he said 700 in 401k and 700 in other investments
@gamerji-li4755
@gamerji-li4755 4 жыл бұрын
It sounded like 700k and 770k to me, but some think he was correcting by saying 70k. Who knows how much is in direct savings besides the $56k also. I get why it doesn't feel like a millionaire if you can't access most of that money yet lol. I have a net worth of 20k but feel like I have a lot less because most of that is in retirement and I'm only 30 lol.
@johnroszel8470
@johnroszel8470 2 жыл бұрын
700-401k, 770-other retirement, 500ish house... That's around 2M...
@user-wq5ws1qs7x
@user-wq5ws1qs7x 4 жыл бұрын
56k for a F-150. Dumb
@calebniederhofer6529
@calebniederhofer6529 3 жыл бұрын
In your opinion , but he has the money to pay cash for it. Just saying F150 is a vague term , that can range from a XL work truck to a Platinum , or Raptor lol
@user-wq5ws1qs7x
@user-wq5ws1qs7x 3 жыл бұрын
@@calebniederhofer6529 yes it is my opinion and buying that truck is dumb. He even admitted he’s bad with money. The vehicle is junk and will be worth half that in a few years. Toyota Tundra is way better. Also, a f150 is not a vague term when the price tag is with it. A raptor is twice that price and an entry level work truck is half. He’s looking at a lariat or an XLT. It blows my mind all the people that
@mannarmylie4195
@mannarmylie4195 4 жыл бұрын
56k for a truck? Id be scared sheitless. Never be more than 10k in debt for anything thats not your home has been a solid rule for me.
@Amarillobymorning777
@Amarillobymorning777 4 жыл бұрын
My 01 WJ Jeep 4.0 L ,125 K Runs like a champion. Wife Toyota Camry 09. I'm a millionaire. Debt free at 38 yrs old. Two kids out of University not a school loan. Built my own house/ took me 1 yr. The honor and Glory to the Lord Jesus Christ.
@cw-sd8dv
@cw-sd8dv 4 жыл бұрын
I hope gas goes to $5 a gallon. Beefy pickups are the new status symbol for yuppie suburban dads. I thought trucks were for getting dirty and working on the job site? Today they're for commuting to the office and driving junior to soccer practice.
@clarifyingquestions
@clarifyingquestions 4 жыл бұрын
Loving these non Baby step 2 callers!!! So great. Not so much all the "losers" in the comment section who can not stand to hear how an ordinary Joe Blow thinks and they too are millionaires. Money is sacrifice, frugality and patience . Anyone can achieve this. Anyone.
@samuelholstein4355
@samuelholstein4355 3 жыл бұрын
I guess my love for old beat up trucks is saving me money😁
@JK20239
@JK20239 4 жыл бұрын
I would be too. That's like 4 toyota corollas. At 56k. Might as well live in it...
@thecatnextdoor12
@thecatnextdoor12 4 жыл бұрын
It’s also ten junk cars and he could drive a different one every three days in a month.
@Roudter
@Roudter 4 жыл бұрын
The only 2 things I have no spending restriction on are...1) car parts 2) pizza toppings
@joshrowe2275
@joshrowe2275 4 жыл бұрын
When Dave tells you to go buy a 56000 dollar truck, you go buy a 56000 dollar truck
@gmansplit
@gmansplit 4 жыл бұрын
We got some bad math from Dave at 4:13. .05% of a million is 500 dollars, not 50,000. If he was worth 100 million that would be true. As it stands, 56k is almost exactly 5% of 1.2 million.
@kidk007
@kidk007 4 жыл бұрын
Im surprised Dave didn’t ask how much emergency $$ the caller has? The caller has all that net worth but you can’t pull money out of retirement accounts without penalties/taxes and you can’t tab into your home’s value without a loan.
@manman464
@manman464 3 жыл бұрын
He said that he have 70k in a separate account
@jbeav3902
@jbeav3902 4 жыл бұрын
The true test is would you make it through a 1929 crash. Would you be solvent in 1932.
@ozzymartinez3820
@ozzymartinez3820 4 жыл бұрын
Im running a 98 tacoma. Runs like a charm 😤😤
@dontundra2259
@dontundra2259 4 жыл бұрын
Tacoma’s do not stop!
@ozzymartinez3820
@ozzymartinez3820 4 жыл бұрын
@@dontundra2259 only has 140k miles on it, ive seen plenty with 300k +
@dontundra2259
@dontundra2259 4 жыл бұрын
Ozzy Martinez I have a tundra (as you might have guessed lol) and there have been two that have passed 1 million miles already! So your Tacoma is just getting warmed up! Enjoy it.
@sdbszz706
@sdbszz706 4 жыл бұрын
Problem is, while you’re a millionaire on paper, it doesn’t feel like it when you might have mouths to feed, a spouse that’s stay at home mom/dad, and most of your money is tied in assets and retirement plans you can’t touch for a while. So your monthly income as it comes in isn’t as high as one might think looking at his whole self worth. It’s scary to start spending a grand a month on a car, maintenance, and insurance when you have a boat, a trailer payment, and 10-20 grand a year vacations your family feels obligated to have.
@I_Love_Quokkas
@I_Love_Quokkas 4 жыл бұрын
Yeah I think this is the line of thought people should have. If your are 50 with millions in retirement accounts, that does jack diddly for you if for some reason your monthly commitments eat up a lot of your income and you don't have any good ways to juice it. This guy is probably fine with a good job, but what happens if he loses it? Not having that 56k could be an issue of he was to be hurt and spouse couldnt make up the difference.
@benanderson4639
@benanderson4639 3 жыл бұрын
I can't ever see myself driving something that isn't 20+ years old.
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