How to Win Financially in the Messy Middle!

[@yhckelly]

This is exactly the kind of conversation that the Ramsey plan is missing- this show preaches discipline with money while at the same time recognizing the nuances in life and rejecting rigid plans and weird absolutes. I love it. Thanks.

[@tonycrabtree3416]

Just say you are looking for excuses instead of looking in the mirror.

[@christianrollman3006]

@@tonycrabtree3416just say you live a privileged life where your parents solve problems for you

[@jonathanwynne6925]

What would be an example of rigidity or a weird absolute in the Ramsey plan?

[@cvb5092]

@@jonathanwynne6925only pay cash for cars, never use credit cards, rice and beans etc

[@TylerRayHamblin]

@@jonathanwynne6925maybe never allowing for a 30 year mortgage at anything less than a 20% down payment (even when your cash can make more invested than tied up into a house in order to save 3-4% on mortgage interest).

[@ThatJaxsonGuy]

"Your investments better exceed your car payments". I have been into cars my entire life, but hearing this was mind blowing to me and revealing of how backwards I have been in the past. I have changed my financial focus quite drastically and gotten rid of my expensive cars and am driving a paid for beater. It is HARD but being broke (as Ramesy says) is much harder. Thank you guys for this perspective. It just completely changed my thinking!!!

[@stocksxbondage]

So many others like you and me appreciate cars beyond the status symbol they’ve become in the US. I loved 90s German sports cars and had to let them go for similar reasons (maintenance instead of car payments). Getting to enjoy almost any car of my choosing is a part of my “why”. I imagine it’s yours too. Plateau and drive subpar cars based on your income? Or be frugal, save and invest now to buy your dream car(s) in the future without even putting a dent in your net worth? Hobbies/Interests are a journey so I’ll wait (not so patiently lol).

[@ThatJaxsonGuy]

@@stocksxbondage I am glad I am not the only one that is feeling this. I've been a "car guy" since I was a kid. Grew up taping magazine cut-outs to my walls. I have made life long friends from car groups and will forever be grateful. BUT... I have come to the place in my life where I am waking up and realizing I have to either make sacrifices now for a while, or will continue to struggle the rest of my life. You are a German car guy, so you will understand this. I got rid of my MK8 Golf R to go on this financial growth journey. I have a family with kids so the practicality of checking all of the boxes, that car was amazing. I fell completely in love with it. Was a really hard decision to let it go, but since then, the progress I have made in our finances has been astonishing. Letting go of the car gave me strength to curb the rest of my bad money habits with relative ease. Cheers on your journey as well! Thanks for letting me know I'm not alone!

[@anotherdedchannel]

Yeh I was arguing with a guy on Facebook who bought his dream truck, the payment was $1200 before insurance. I said it was dumb and he mocked my beater saying I was hiding behind a keyboard while driving a beater. I confirmed his suspicions, and stated I was indeed hiding, from a $1200 payment, behind my Roth, hsa, and hysa lmao.

[@stocksxbondage]

@@anotherdedchannel statistically we’re likely to live a long life. Why not plan for it? When retirement age comes, it will hit them like a freight train! Was driving nice cars worth being practically homeless in old age? Then of course they’ll hate the rich thinking they’re all a bunch of selfish sociopaths when 3/4 of all millionaires built their wealth by saving and investing in employer sponsored retirement accounts…

[@ThatJaxsonGuy]

@@anotherdedchannel So this is month 9 since I got rid of my nice car. I will admit there are times that I deeply miss it. But honestly, no matter how hard those feelings hit me, all of the education and learning I have been focused on has always helped the rational and knowledgeable side win. I am not the person that really cares about a car because of what others may think. Cars are just my passion and hobby. But I have been focusing on allowing finances to become my passion and hobby. Just like with cars, there have been some hiccups and bumps along the way, but without the car payment and maintenance costs, I get over those bumps almost immediately.

[@drc4688]

I’m right in the thick of the messy middle. I have a wife and two young daughters. Too often, I’m hard on myself even though life is going very well for us. Thank you so much for the encouragement and grace.

[@dylantaylor4822]

Exact same for me. I’m 38 with 2 young daughters and it’s stressful. We got this fam!

[@ryclark53]

First kid due in February and got married and bought a house within the last year. I can feel myself stepping into the messy middle. Daycare is no joke no matter how strong your income is.

[@Joenzinator]

We had 3 kids in a row, and just went ahead and hired a full time nanny. It was around $40k/yr, which was about the same as daycare costs for 3, and we didn't have the stress of drop off / pickup. At some point we signed them up at a preschool at a church that was very reasonable, and we were able to get a half day nanny for $20k/yr. Either way it's a major money sync, and it's hard to create margin, but it's only temporary!

[@montoriabryan167]

Literally was me last year. If your wife isn’t a stay at home mom, it’s possible she may consider it. I 100% did

[@janaynmelis5250]

My husband and I are team one and done but you're right...daycare is no joke 😢

[@ag56560]

Some companies offer dependant care which is an account that can be used to pay for daycare. It comes out of your paycheck pretaxes but usually doesn't roll over. After my wife went back to work and we had one kid left in ChildCare... it takes the edge off the daycare burden.

[@Orange_pickles]

My wife and I pay $2k/ for full time day care for our kiddos. Her salary is around $100k so we are still clearing net positive at the end of the day, but we always ask ourselves if it’s worth it. They ain’t babies forever.

[@darellhunter2205]

At 35, married with an 8 month old this episode was much needed. Thanks team!

[@rachelm76]

I really appreciate the "messy middle" concept and the encouragement in this video. Thank you!

[@april4657]

I got married at 22 to a man with three kids. I think we have a love/hate relationship with the messy middle because we're thinking about having one more. Every child makes us a little more broke, but enriches our lives more than I ever expected. We do what we can to save and although 25% is elusive, I'm thankful that we don't live paycheck to paycheck like my parents did when I was growing up.

[@yaakovkagel1015]

Stay strong and fight the good fight. Kids are the most beautiful gift and I hope they bring you much joy.

[@Aaronsutube1]

I watch your show all the time, and have for years. You are the show I recommend to family and friends for Money stuff. Of course I’ve heard you guys talk about the Messy Middle, and thought “I get it, I get it”. But I didn’t really “get” it until this year. First baby, now one income, needed home improvements, I think I am starting to feel this “Messy Middle” just start to hit. Thank you for your content, and thank you for preparing me for the last few years for this next part of the journey. I’m so glad I saved and invested 23% these last years, due to pursuing your advice.

[@dietbajablast5790]

"now one income" That's a choice you made.

[@dietbajablast5790]

Skip to 12:18 to get started on the advice and avoid the fluff/filler.

[@AkweliParker]

Our time is more valuable than anything. Thanks for this, legend!

[@kimberlychin1996]

Thank you!

[@Xe_None]

The messy middle is no joke. I have been a fan of the show for years, and during my high 20s I thought the 30s wouldn’t be so different. Now I am 31, have a 3y/o, new job, side job, my wife works 80 hours/week, daycare, sports, bought a house last year, income is right around not qualifying for ROTH IRA, taxes are complicated but probably not enough to pay for tax advice… there’s always at least one aspect of life tht is chaotic. Nothing feels optimized!

[@RobertBeedle]

I'm 37 and I feel you. ❤

[@LanceyRoche]

I am saving and investing around 40 percent of my income. I have a high paying engineering job, and I live in CA. With covid 19 my expenses became extremely low. I have zero debt on a 7 figure portfolio, rent and car paid off. So i can just save. feel lucky and grateful my adviser Emily Lois Parker came into play.

[@harrisahmed3066]

I looked up Emily Lois Parker on the internet out of curiosity; she has a strong résumé

[@stephmeldrich6765]

Truly It's all about using assets with compound interest to amass riches.

[@Wealthforthe99Percent]

Just turned 31 this month, and been a financial mutant for a decade or so. In addition to the money talk, I really enjoyed the wise words of life advice in here. Thank you. 👏

[@lightfighter7341]

Dang guys, this is the first show that made me cry! Who knew you guys are also therapists. Finally, someone talked about the money and time people are putting to kids high level competition in which kids have less than a 1% chance to make it (soccer). Thank you so much for doing this; I am in the messy middle and for someone who has planned all my families financial life with inflation and buying a car I shouldn't have I am feeling the strain! This may be your best show yet; keep them coming!

[@bygone8676]

Also something I struggle with my kids. When I was young all my friends joined higher level soccer and my parents basically told me no because of money and I wasn't going to do anything with it anyway. I engraved that as "if I can't be the best, why bother" with everything in my life. Moving forward, true none of my friends went pro, but they did have the work ethic and mindset to push forward that allowed greater opportunities.

[@P_Rodd]

I am so deep in the messy middle, post divorce, refinancing mortgage, single parent of 3, child care costs, fulltime work, and part time college. Making it through though, one day at a time.

[@scottmcgilvery8511]

Yep that’s it - one foot in front of the other, before you know it 10-15 years will fly by and you will watching them launch

[@mrjuvy49]

Been there, just continue to do the right things, and it will o[pen up for you in the 40's, then it gets better and better from then. Continue to invest in your education and the stock market every paycheck.

[@javiervargas2336]

Blessings king keep going

[@suavewolf1994]

Man I really needed this episode! Combined income of $150k, we each have outstanding credit card debt, I have student loans, each currently saving 10% into our 401k's (additional 5% for my HSA) and working to move in with my parents to save on rent and expenses. It's a little disheartening to see people my age or younger buy houses and have nicer things but I gotta remember I don't know their financial situations. Seeing that first time homebuyers on average is 36 is reassuring. The plan for now is to pay off all our credit cards, buy her lease next year, and then save as much as we can! Really appreciate all the content you guys put out.

[@DJHesterman]

I think it would be worth seeing what reducing your contributions temporarily could do to get rid of your debt as quick as possible. Imagine an extra 15-20K per year to be able to throw at that and how quickly it could go down. Then you can raise it back after that. Money guys Financial Order of Operations says to only put up to the employer match in the 401k until you get high interest debt paid off.

[@NoRegertsHere]

Agree with the poster above. I’d also say that you aren’t competing with other ppl, just maximising your own situation. If other ppl buy their first place at 36, good for them. Guarantee you that they aren’t doing the FOO or even the baby steps.

[@spdog3344]

I agree with these replies as well. credit card debt should be the number one priority to pay off. Probably shouldn’t be investing in your 401K above the match amount. Good luck!

[@pnic4540]

I’ve waited for this episode! So excited! Turning 30, 200k income combined, 60k in roth and a 1 year old at home, need to make sure I’m balancing enjoying my good income but stay on track for the future

[@DickensFangirl]

Similar to you, turning 30 except just having our first baby and have 50k student loan left!

[@pnic4540]

@@DickensFangirlalso have a ton of Student loans, just low interest compared to others I’ve seen. Glad I’m not alone!

[@prjoe95]

Your situation sounds exactly like mine. Turning 29/30 and Baby 1 due in December and 230k combined income. Feel like we are in great shape but know we can be doing so much better.

[@DanTheMentor]

Ha that’s funny we are all in the same boat right now. 29 with 3 kids, descent income, and looking to max out retirement in 3 years due to day care costs.

[@andrewoneil8535]

Day care takes care of ant savings. 280 combined but day care for two will be 40k

[@dynoFF30]

This is one of the most complete episodes y’all have put together. Would (and will) send this to any one who hasn’t seen your content yet and it’s a great foundation for understand your insights and perspective. Looking forward to Brian’s book!!

[@lorijharman-runyan6433]

The most important activity that your kids need to participate in is family dinner together, at home, at the table, without phones, at least 4 or 5 nights a week.

[@elizabetha.9808]

Underrated comment. 👍

[@Username_CC_]

I got my life together and got my career trucking in the last 5 years and turned 30 so this is perfect timing.

[@LordDijamco]

Please! Make more episodes for the messy middle 🙏🙏🙏

[@susanclaire901]

Bought a gently used Toyota a year ago. Put 50% down and paid it off in 6 months. Love your channel!

[@mrjuvy49]

bought a 20 yr old Thunderbird 4 months ago, paid cash and not payments, and having fun with the car.

[@Joenzinator]

Our "messy middle" lasted for about 3 years. We lowered our investing to just the employee match when my wife stopped working for a couple years after having kids. I had saved a lot in my 20's, and we save 35% now, so all is well.

[@FreeGraceNotes]

good job

[@KR-bn4bg]

I'm about to hit that point now and it's scary. We're saving great now but when my wife stopps working, I'm worried about falling behind in retirement savings. I think the extra family time will be worth possibly having to work another year or two. I mostly work evenings so I barely see my family now. When my wife is done working and is home with the kids, we're gonna have so much more time together which is priceless.

[@Joenzinator]

@@KR-bn4bg I would agree, you won't get this time back. My best advice is to accept help if it's offered. I'm sure you are used to being independent at this point in your life, but money and time will be very tight for a couple years. A little help in either area can make a big difference.

[@DermDrNik]

I think this is the best episode of this show that I’ve seen, especially the last third or so when it gets deep and existential. Needed this!

[@WeiYeeLu]

I really needed (and loved) this episode. So relatable, and so comforting to know that a term "messy-middle" exists and that financial planners like these guys are empathic to folks like myself in that category.

[@berf0308]

Thank you for making this video!! I am a single mom of 2 with an annual income of $53,000.00, and I can't express enough how I appreciate your show. I am trying to do everything the right way to prepare for my future and give my kids the best life I can . Every day is a struggle. I watch your videos a few times a week just to stay positive and tell myself I can do this.

[@javiervargas2336]

Blessing to you and your children

[@Aunny123]

I’m 25, my spouse and I are saving for a home. We halted out retirement investments back to the match until we have a substantial down payment and emergency fund in cash. Debt free, just renting until we can get in the house. I believe you can halt progress in some areas to make big progress in other areas. There isn’t a perfect straight line, it’s a journey.

[@susanlippy1009]

If you get lucky home prices tank around the time you are ready and you find a great place for a good price. That's the advantage of being young you have time to leverage to your advantage. Markets rise and fall if your ready you can take advantage. Good luck on finding the perfect place.

[@Aunny123]

@@susanlippy1009 thank you! We’re hoping to time the market right, but we plan to buy our forever home, so we ultimately won’t be buying as an investment to get a return.

[@mere_cat]

Thanks for not assuming 12% annual growth like a certain other financial guru.

[@TeKnoVKNG23]

I certainly needed to watch/hear this. This was going to be the year I finally started getting caught up on retirement and investing and then there were some emergency vet bills, then stuff on the car started going, got the car fixed and the compressor went out on the fridge, than needed HVAC repairs the month after that. It's been one thing after another and while I have the emergency reserves to handle it, it's just getting old and preventing me from saving and putting more into investments and has just been super annoying.

[@TheBobbyBrown22]

Great episode as always. Just had my first child and bought first house… the messy middle is real! Appreciate that you guys don’t just stick to finance but share some invaluable life wisdom too. Thanks money guys!

[@jawadsaleemi]

Thanks alot for doing the messy middle show. I am 36y old first generation immigrant who has taken the whole family out of poverty. I am at step 8 of FOO,i am working my ass off for the step 7.However, i have 3 young kids and feels as i do not have any personal time at all and sometimes that much of consistent hard work frustrates me but i do not want to slow down with my investments.

[@lindsayguinn]

Thank you so much for this video. As someone stepping into the messy middle, I feel much more at ease if my money plan takes a pause and adjusts as needed. THANK YOU!

[@jonathanwynne6925]

Great episode, I appreciated y'all talking about family and not just money.

[@FatStacksAcademy]

I’m in the messy middle and just had a major living situation setback. Just want to thank the team for reminding me of the ancient wisdom: This too shall makeitthroughable

[@annapatton4544]

OK, that's my new favourite word now!

[@3zeekiel]

When Brian says Camry and not Land Cruiser, just makes me wish I bought a LC years ago when they were cheap and nobody new about them haha

[@treesarecool]

I appreciate the flexibility of the messy middle definition. I’m in my mid 30s, just got married, but have owned my home for 6 years. No kids, but in the last few years made a few riskier career decisions that have made me change my savings strategy. It’s ok that my messy middle is not about affording kids, but it is a time I need to pay extra attention.

[@nathanielwatson965]

This is one of my favorite episodes ever! Thank you for this one, it resonates so well with us right now. Can you do an episode on sandwich generations? That is our toughest journey right now is balancing supporting our parents and our young kids all at once. We live in a multigenerational home due to my in laws not having any retirement planning and their disabilities.

[@jaydubya9265]

I’m firmly in the messy middle 😂😂. 35 years old. Married with 3 kids (9,6, 3 months), a house with some new issue every other month, and an aging parent. I’s tired. Oh and my car needs brakes amongst other things. Thankful to be able to maintain a healthy retirement savings rate though.

[@BagsNBaguettes_327]

Brian is always waving 👋 that paper 😆😆🤣🤣🤣

[@mrjuvy49]

You also need to prepare a net worth statement every year, my first year I could not believe how much money I owed.

[@josephsmith4009]

I have to also push back on Bo when he says that if your child doesn't continue certain activities like gymnastics past a certain age that it might be a waste of time. The lessons learned and these activities and the body development will transfer to other activities in life.

[@saml1001]

My middle is getting messier by the minute

[@chriscallaham3629]

You guys are truly the best, I recommend you to people on a regular basis.

[@mrrubymrcapri37]

whenever I watch an American show about monthly saving I feel grateful for the Australian Super system that made me compulsorily save 10% of my income with discounted tax each month from the beginning of my first job before I even understood the power of compounding.

[@Zombiebeast1995]

What is your tax rate over there?

[@mrrubymrcapri37]

@@Zombiebeast1995 depends how much you make. The highest threshold is 45% if you make over 180k

[@ero1456]

Best part of show was last few minutes. Nicely said.

[@RoyKent536]

I recently inherited almost $500k. I REALLY need to make this money work for me, and not just disappear over time. I've been scrambling for somewhere to put the money, where I can make an effort to use the gains to pay bills so I can quit my job . All roads have pointed to the financial market of some sort which is a good idea buh where else should I put money besides the financial market? We have a 13% RPI rate so cash is tough.

[@theoking1712]

very informative, one option I suppose is, if you were to invest a set amount buy the whole share in a ETF and the remainder could go into a index for which would allow you to purchase the fractional shares, is that an option?

[@RoyKent536]

well a million in profit is a nice milestone, how did you achieve that? I guess you have a consistent method or plan

[@RoyKent536]

Thank you for this tip. It was easy to find your coach online. Doing my due diligence on her before reaching out. She seems proficient considering her resume.

[@liamwesley6882]

When it comes to investment, diversification is key. Also have my interest set on key sectors based on performance and projected growth. do not invest all your money in a particular sector. diversifying across different sectors is the way to go

[@spdog3344]

32 and three kids, we are in the messssyyyyy middle! Paying 37K/year for daycare 😭

[@JoDonn]

I have 2 and have a 3rd on the way! Daycare is brutal $38,000/yr on daycare and that’s WITHOUT our 3rd factored in. Made the mistake of refinancing to a 15 year mortgage 4 years ago before we had kids. Now I’m being squeezed so hard, but I’m not refinancing back to a 30 year with rates so high. Kind of in a bit of a mess. Grind it out!!

[@michelleh9794]

You might think about hiring a living nanny at this point daycare cost is so expensive

[@spdog3344]

@@JoDonn ya, it is brutal. Older generations will say maybe we should try to find a different daycare and then I tell them it is a pretty affordable one actually and they are like woah 🤯 hope the rates go down soon for you and all the other young ppl looking to buy/refinance!

[@DarthVader1899]

My wife worked for a daycare we got free care for two years until she switched jobs. I dont know hpw you do it! Hang in there!

[@66stang347]

I feel personally attacked every time he says not a Land Cruiser and not a luxury brand. My 1997 Lexus LX450 (rebranded Land Cruiser) has already depreciated as much as it is going to and seems to be going back up in value. Love the show!

[@jacobe3861]

Dude thank you guys so much! You guys refreshed me with this one and ministered to me in ways! on a very serious note thank you guys for making practical content at times where it feels like I’m sitting down getting advise from a dad or wise older brother thank you. God bless.

[@CH-ku1qe]

Great video guys - love the fact that this was a long video with so many golden nuggets 🙏

[@shodack5124]

I've been working so hard to save every extra penny to buy a car to replace my 12 yr old junker. Furnace broke this week. I'm not going to lie, I'm a little heart broken... ugh.

[@ron9665]

24:09 It's just $100 / month ....That's only the price of a Quarter Pounder w/Cheese or 2 pops out of your office vending machine

[@ron9665]

My daughter is mid-20s and she had me make a budget for her. As she has access to a 403b thru work, I had her investing $800 per month or $9,600 per year. She will probably get something from SS and from her school pension program, I asked her if she would have issue with retiring on 'only' $20k per month. Time is Money

[@mandypdx]

33:28 my poor parents. I remember everyone telling me i was spoiled when they bought me a car (used). In reality, they bought it for me because they were sick of driving me to all my practices. (They told me if i did year-round sports and was honor role, I didn’t need to get a job)

[@haplomage]

Based on that I was a bit early on almost everything. Married with first kid at 21, first house at 29, started investing at 31. I'm currently 33

[@thebigredfish]

Make-it-throughable. Love that.

[@saul1629]

I feel like I’m in the messy middle at 27. 4 month old, one income, home owner and a good amount of savings but still feel pulled in several different directions

[@laurijohnson7754]

I think more needs to be discussed about this group of people. We have always been in this category. Just right below six figures. We’ve had to be frugal and not go on vacations to be able to put money away. It was like that for 35 years. But now we are retired and living comfortably. Not rich but comfortable. Also not one million in our IRA- just 600,000. But with SS and a modest pension it’s enough. Most people will never have a million. But that’s ok

[@Dustinisnotavailable]

The messy middle tends to feel like trying to plug a bunch of leaking holes in a boat. You never have enough limbs to cover every hole, but if you have a partner who can help you out with a bucket to empty out the water you couldnt stop from coming in, you'll be fine.

[@BenFranklin1776]

Was hoping either this episode or the car-buying episode would speak on this, but neither did. Reliable transportation is great, but with 3+ small kids (and their car/booster seats), only talking about sedans doesn't exactly work. How does that come in to it? If my car can't fit my family, it won't work. Something with a third row will inherently be more expensive.

[@hillaryvasquez9651]

Hi thanks for making this helpful videos, I really love your videos and I'm trying to get my kids to watch them too. It's so inspiring ❤ I don't know who needs to hear this saving for a better investment is a great step to financial freedom. You're saving a day off work

[@hillaryvasquez9651]

Yes it's been helpful to my general income, I make about an extra 3k weekly from my investment portfolio

[@hillaryvasquez9651]

There are numerous investment alternatives available, including real estate, equities, cryptocurrency, and exchange-traded funds (ETFs), but my best recommendation is to hire a professional to guide you through the process and help you make sound financial decisions

[@bashirauwal5825]

I definitely agree with you, a financial consultant will be of so much help about investing

[@hillaryvasquez9651]

I recommend growwealthywithrachel, she's a good one I've been working with her for a good time

[@albertcharles4415]

Investing should be prioritized by everyone as a means of achieving financial independence. Investing is an excellent one; I felt the heavens the first time I got my investment dividends 😁...been on it ever since

[@nielsvandenkieboom5034]

At 18:40 I went to check my front door.. Thanks Editor of the show...🤣

[@tyleringram965]

Thanks for this episode, especially the relatability of life and giving some aspirational moments for life complimented by finances. While I want to aspire to make financial progress, sometimes memories with loved ones are more valuable than a maxed Roth earning 12% every year. And giving grace of balancing life and planning has to be one of my favorite take aways y’all have ever done.

[@Ethernet480]

Easiest way to win in the messy middle…imho….find a workable savings rate to start at, and set a proportion of every raise you get in the future to be allocated to increase that rate. If you start at 10 and increase 2 each year…you’ll hit 25 in 7 years👏

[@Woopigmavs]

I think there are so so so many people that needed this - including myself. We bought a house earlier this year and our first baby will be born very soon. We’ve been incredibly blessed, but it’s also hard to not feel like we did everything right and it’s still not enough. The approaching daycare bills give me some real anxiety at times 😅 and it’s wild how much more complicated our life and finances are becoming. Thank you for producing wise, relevant, but also practical content, and reminding those of us in the messy middle to be kind to ourselves 🥲

[@nickstrampe3603]

Great show. Value and Values! Love it

[@josefj1776]

Thanks, this is a hard time to get through with my wife in the military I had to get a new job every 18-32 months and it takes 12 months to be permitted to take part in the 401K it is hard to save for retirement so I am behind. I now have had a midlife career change now I am making more money but I am behind saving 45% of my income and my wife has a job after retiring so I hope I can catch up my company just got a 401K so putting into that.

[@bubblebeamm]

banger vod, im not in the messy middle yet but its something I can now know how to approach

[@jacobmees8040]

Great conversation, but can you guys please isolate the mics from the table? Painful on headphones.

[@davisamills597]

Yesssss!!!!! Needed this episode!!!

[@LittleGirlLost]

Love the Ferris reference

[@15minuteworkout20]

Great video, Team!

[@mccu0736]

I have always wondered about the particulars of your savings rate. It would seem like a percentage based savings rate would start to level off based on your earnings and spending. Someone making $150k a year would not need to save the same amount, percentage wise, as someone making $50k a year assuming that their expenses/lifestyle are roughly the same. I realize that someone with a higher income would naturally save more (whether they invest it or it sits in their checking account) if they kept their expenses low but let's ignore that for the sake of this thought experiment. I would love to see this savings rate as a percentage of your EXPENSES rather than INCOME. That way someone can think about how to replace their expenses in retirement. Thanks as always, Money Guys! I appreciate your advice and have embraced my season in this "Messy Middle".

[@thebosshouse]

If your expenses are low, why would it be a problem to invest the same percentage?

[@susanlippy1009]

Expenses for someone making 150k and someone making 50k are in no way the same. The percentage of income is to allow for ones lifestyle to stay the same once retired. The person making 150k will have a vastly different lifestyle from how often they eat out, take trips, type of vehicle they own, clothing choices ECT. If you are willing to reduce your lifestyle upon retirement than saving less might be ok for you.

[@kennyfrankovich5507]

I absolutely love this show and the positive vibes you guys give off, and i would love to work for somebody like you guys. As a finance and information systems major, would there be any spots for an intern at the Money Guy Show? Also, how would I find a way to get there? Thanks

[@Zombiebeast1995]

Google money guy show

[@jdmulloy]

Been waiting over a month for this episode. Watched part of the live stream and tried to come back to it, but it was taken down.

[@josephsmith4009]

To me, the 12 hours a week of activities for kids does not seem like a lot. When Bo breaks it down and says school last till 3:00 p.m., well maybe that's the problem. I think this is the biggest plug for homeschooling where you can get done the same or more as a public school in just a couple hours a day. That's what's really going to open up your time. I know this is an unpopular take as a lot of people rely on public schools as a way to also babysit their kids, but to the extent your lifestyle can fit it. I think homeschooling gives your family so much more hours in the day.

[@ArmadilloAl]

*We're thinking Toyota Camry, not Land Cruiser* Even then, 20/3/8 won't let you buy a new Toyota Camry unless you're making roughly $120,000 per year, and even making that kind of money definitely makes you a financial mutant.

[@Lucky008aau]

Then buy used.

[@eduardoagarcia]

Hi Money Guys. I just switched jobs recently, and want to ask if should I roll over my previous 401k to my new employer's 401k or to transfer the funds to my Roth IRA. I was making Roth 401k contributions in my last job. Thanks.

[@jacksonbilly9979]

Love y’all show

[@voncilledemesa2075]

What do you think about 0% interest rates on credit cards if you divide the amount over the 0% time period like 1 year for example and make that payment monthly?

[@lonz0_0]

Currently 23 on Step 1 🙂

[@OliveBell19]

When we say 25% saving to retirement, is that all into retirement vehicles, and do we count the company match or is the match on top of that? 25% is no joke

[@Lucky008aau]

It does not all have to be retirement vehicles, but most of it should be. If you're on step 4 of the FOO (emergency fund), then that money going into Savings would count towards your savings rate. Lower earners will not max their 401k plans in step 6 before they hit 25%. Do count any employer matches, unless your family makes more than $200k.

[@emocore1schecter]

My goal in life is to find a video that Bo isn’t SO EXCITED FOR. 😂 Jk. Great content as always guys! This one was super relatable.

[@beelee1394]

my dog wants me to mention the doorbell noise was unnecessary.

[@graphite718]

I've been investing since I was 25, I'm turning 30 next week and I currently invest $800/month. That's also on top of 9% of my income goes to my 401k. The company I work for effectively puts in 6.75% of my income. Any money I have left over at the end of the month goes into my high yield savings. Am I being too aggressive? Haha

[@caseyrichards3212]

No idea, are you investing at least 25% of your gross income? Is the money going into HYS delayed consumption?

[@graphite718]

@@caseyrichards3212 the $800/month is ~10% and the left over that goes into my HYS fluctuates month to month which is what I consider to be the last ~0-6% of the 25%.

[@AK_AF_LB]

Definitely not too aggressive. If that percentage of contribution does not max out your 401(k), you should focus on maxing it out. If that does max it out, then $800 a month is definitely too low. It's a good start though!

[@graphite718]

@@AK_AF_LB $800/month is not for my 401k. That's for my personal investment portfolio.

[@Username_CC_]

As long as you don't skip concerts, road trips or anything else like that. Trust me look for some fun too

[@kona6451]

is there ever a video that Bo isn't "So excited" about? bhwahahahahaha

[@AM-xh6sk]

I am baffled at how people like this have no capability, no capacity to even comprehend what work, life balance is. Cloaked in the idea of “create the best version of yourself” is simply an empty chasing of a false American Dream. While what a lot of these two teach is practical for a variety of reasons, the philosophy underlying it is so deeply and darkly American and unfortunately and tragically prioritizes and idolizes money above all. “In God We Trust.”

[@annapatton4544]

It is good to remember that downs are a natural part of life. We saved up and decided to start investing. And if you look at snp500 since forever and find the highest peak - that is when we put most of our savings in. If you find the second highest peak since then, that is when we put in more when we saved up again. 2 years investing and our money still has not recovered and we are 16% down on the invested amount. It's heartbreaking but what are you gonna do..

[@shadesocks3357]

Man, what a set back for the imaginary guy on the FOO! He got a promotion at work and then immediately lost his job! Ouch!

[@josefj1776]

Try it when you have to get a new job every 18-32 months. It takes 12 months to be permitted to take part in a 401K

[@trgr101]

wrong

[@jetsandthebombers]

6:12

[@Tinaluvsdc]

❤❤❤

[@geopepsi3524]

Ironically I can't say I FULLY regret investing early, but I definitely regret HOW I invested early. Then remember and forgive knowing that was my training wheels.

[@mmaranan]

Is there any other intro other than "I am so excited with this blah blah" ? You can never be excited with all of these topics you talk about, maybe a few but not all. lol

[@Bacciagalupe]

: )

[@christinab9133]

❤❤❤