Pay the house off first! So much more satisfying to make improvements on a home you actually own!
@kimberlywinkfield8767 ай бұрын
I agree
@Snesboy097 ай бұрын
Absolutely. I'm not upgrading my house beyond necessary repairs until it's paid off.
@spvimagery35279 күн бұрын
Are you going to enjoy dirt and rocks for the next five years? They are already there without debt and now it’s just enjoying without stress.
@garyboyer2837Күн бұрын
Only 70k a year Dave and Gary (me) say pay off your home you make slightly above poverty income
@ChristopherJeffreynx8Ай бұрын
"Building wealth is like climbing a mountain; investing is the steady ascent, retirement is the summit."
@RobertAnthonyD2Ай бұрын
Great analogy! Climbing toward retirement takes effort, but the financial freedom at the top is worth it.
@JosephEricx2yАй бұрын
Great insight! I'd love to meet a financial adviser who can help me climb the financial ladder effectively.
@BarbaraMarks7sАй бұрын
Great point, With my adviser’s help, I’ve climbed the financial ladder, making informed decisions that support my retirement goals.
@JosephEricx2yАй бұрын
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.
@BarbaraMarks7sАй бұрын
Thank you for this amazing tip. I just looked the name up and wrote her.
@Themoomabides9 ай бұрын
Caller: Should we build a patio or pay off mortgage? Dave: Sell the car Caller: That’s not what I-- Dave: Sell. The. Car.
@murpheus11079 ай бұрын
😂
@zenlife3219 ай бұрын
😂😂😂😂😂
@calvinreichelderfer79899 ай бұрын
That’s hilarious 😂😂😂
@kathyms.9 ай бұрын
Lollllll😂😂😂😂😂
@mauricenix20269 ай бұрын
This is HILARIOUS 🤣🤣🤣
@fenrir999odin59 ай бұрын
This is why Dave needs to be on here.
@Bibleguy89-uu3nr8 ай бұрын
Yeah this doesn’t add up. If the patio was like $10k that would be one thing. They are spending almost their yearly income on a patio and I’d be willing to bet they haven’t saved that much and got money from an inheritance
@Playingwithproxies8 ай бұрын
@@Bibleguy89-uu3nrit seems like the ratio is crazy high 😅 they probably want a very fancy patio 😅
@Playingwithproxies8 ай бұрын
@@Bibleguy89-uu3nrit seems like the ratio is crazy high 😅 they probably want a very fancy patio 😅
@pauljsedmak8 ай бұрын
A year's pay for a patio is nuts
@kimberlywinkfield8767 ай бұрын
Rachel and Jade are doing just fine
@JasonGroom9 ай бұрын
Personally, I would do a $27,000 patio that has room for addition in a few years after the house is paid off.
@allisonautrey21369 ай бұрын
Absolutely
@JasonGroom9 ай бұрын
@@allisonautrey2136 you can build a hell of a nice patio and outdoor entertainment space with 27 thousand, and they could do it right not without waiting at all, then add on to it on 3-5 years when the house is paid off
@mattbenz999 ай бұрын
This would be the smart decision. 27k is still a pretty decent patio.
@Playingwithproxies8 ай бұрын
Pay 20k for materials for the 50k dollar patio and do the building part yourself you make 70k your time isn’t worth paying someone else to do the work that you could build yourself
@lcarter8449 ай бұрын
I think I would pay off the mortgage first. And save as much as possible for the patio.
@NicholasGramazio9 ай бұрын
Nah. If the paid off time frames are the same, why not enjoy the patio earlier?? (plus the patio install pricing is only going to increase over time, while the mortgage doesn't)
@hasani91109 ай бұрын
Right? They could lose their incomes - life is unpredictable. Better have paid off house then, and be less stressed when storms of life come your way.
@lcarter8449 ай бұрын
@@hasani9110 I agree. I would rather be debt free.
@MrWolf22129 ай бұрын
$50k for a patio??!!!! Good lord!!
@gtileo9 ай бұрын
There's more than just a patio, it's the entire landscaping for their yard. There's some big dollars there, between all the greenery, interlock and any other wood work that goes along with it. It's not really a far fetched number. Their actual plan will likely take 7-10 years. 2 years to save up 23k with the CD to get the money for the landscaping, meaning to pay off the mortgage they'll have to add another 2 years on top of the 3 if they put the CD into it. Not to mention all the extra money they'd spend on parties and get togethers. Realistically, they won't be mortgage free for another 8 or 9 years. I would have paid off the mortgage first, or at least get it down to below 40k before doing the patio
@gtileo9 ай бұрын
@@VecnasCurse86 you should question the 8k quote. There's no way someone is doing an interlock patio for that cost unless it's tiny
@gtileo9 ай бұрын
@@VecnasCurse86 that's a small patio, I could dig that and do it myself in a weekend. I just had a 750 square foot patio put in, 20x30 with a build out and a step down and had 4 wood posts for a gazebo I'm going to build, put in and it cost me $21k. Another $39k to do the front of my house, walkways, stairs, driveway flower gardens. As mentioned 50k seems pretty reasonable especially if it's a full landscaping job, it ain't cheap
@dsstudio76Ай бұрын
A nice backyard with a pool can cost easily over $100,000 😉
@jaredbeckwith9 ай бұрын
$50k patio is wild, I thought they’d say pay mortgage instead
@mewtwomotherfuka9 ай бұрын
Well they are paying the mortgage already. They have 1,000 dollars extra that they can use to pay cash for the patio. Because they are paying cash and their necessity are taken care of. That's why they said patio
@shep82428 ай бұрын
Exactly! The dude is rushing this because he’s worried about what could hypothetically happen in the future. So why not pay the mortgage off asap, then if something does happen to one of them, say cancer or an injury, they will be better off as won’t have to worry about mortgage payments. This guy is just not thinking clearly.
@Ruffles20128 ай бұрын
They have no other debts. It's not a huge deal if they take 3-4 years to pay off their mortgage instead of 2
@brandonvise88794 ай бұрын
Yea. I'd say do like a 10 or 15k improvement. Your friends will enjoy it about the same as the 50k. Throw the rest at the mortgage. Also if they ever sell that house they ain't getting that 50k back.
@davesrvchannel47179 ай бұрын
I built an outdoor kitchen for $1500. Got a vid to prove it. I built it by myself in 3 days. I make under $20k a year. I’m 100% debt free. Today you’ll want a $50k outdoor setting. Then tomorrow it’ll be we need more parking for guests at $30k. Then it’s $40k for a pool. You’ve gotta live like you make $70k or you’ll never get debt free. It’ll always be something nagging at you to buy
@Bibleguy89-uu3nr8 ай бұрын
Good point. I was listening to this and thinking that I built a large patio by myself for under $500. Planning on buying nice furniture lightly used for another couple hundred
@cedric50557 ай бұрын
Jeeeez start to make more money man. If you can build your own outdoor kitchen you should easily be making 60-80k.
@davesrvchannel47176 ай бұрын
@@cedric5055 jeeeez, I’m retired
@nousernamesarevalid9 ай бұрын
I love the Pick a Side segment idea.
@nylonguitar9 ай бұрын
I'm from Harrisburg too. I think the fact that your home is fairly new, combined with "Spring Fever" and the giddiness of these 2 wonderful ladies may sway you in the wrong direction. "Be anxious for nothing, but in everything by prayer and supplication, with thanksgiving. Let your requests be made known to God" Pray on it! Pay off your mortgage are my thoughts.
@karengoetchius7948 ай бұрын
I didn't think they sounded anxious, and they are letting their requests be known. I vote for the patio too! 😊
@brennik052 ай бұрын
We’re also near Harrisburg (Dillsburg to be specific). I also would’ve said mortgage first. You can still entertain without a $50k patio. Just get a grill, some chairs, and a fire pit. Done deal. But seriously always pay the mortgage off first!
@asavannah74399 ай бұрын
I'm with her. Pay off the mortgage. My husband and I have been debt and mortgage free for a few years and it is the best feeling 🎉
@Judep42379 ай бұрын
I’ll second that
@Joe-ip9ov9 ай бұрын
3rd!
@iamkesha.9 ай бұрын
Since I started watching Dave Ramsey, I have learned the only people that are free are those who lives debt free.
@Daveandconfused.9 ай бұрын
I agree, I’d rather pay the house off then cash flow the patio
@aolvaar87929 ай бұрын
$214/mo mortgage + $50 insurance + $50 county fees. $8500/mo Pension (the Best feeling)
@Fishouta9 ай бұрын
Wow, please do more of these "PICK A SIDE" videos! And using this pair of hosts. Fantastic!
@scottdunn13719 ай бұрын
You did not ask about their retirement savings. If they only have a little, add the $50K to IRAs, etc. If they have $2M, then $50K for a patio is not a huge deal. A luxury purchase decision should always be based on a % of net worth.
@emoney12319 ай бұрын
Their logic is probably that they're saving 15% so they're good.
@AC-qo8oq9 ай бұрын
That was the most important question that didn’t ask and how old are they
@alliecrain82779 ай бұрын
Yeah that bothers me. Also no consideration to what the house is worth/how much this actually increases the value.
@dsstudio76Ай бұрын
Thank you for this clarification.
@tubenachos9 ай бұрын
This is a tough call but pay the mortgage off!! Mark is thinking with his heart not his head on this.
@gabrielle93359 ай бұрын
I think the point is that at this point in their journey, a lot of decisions are going to come down to “heart” decisions. And that’s fine!!
@truebengalsfan8 ай бұрын
This ain't a tough call is more doing what better vs what you want but atleast they ain't taking out a loan
@jamaalmillen8 ай бұрын
The relief you feel with a paid off house is a dream!! The patio can always wait! Plus you can take your mortgage payments and save up so much faster
@omarilindo9689 ай бұрын
I would have to get a few more estimates and get that patio price down
@JK-ee4ez9 ай бұрын
How much is the value of their house? My $0.02 comment is to pay $50k patio only after paying off mortgage. Settle with grass and gravel in the meantime. Mortgage is a need, patio is a want. Believe Dave would agree also.
@alittlepieceofearth9 ай бұрын
Agreed.
@terriesmith26169 ай бұрын
Bingo! 🎯🎯🎯 100% agreed with you. Paying off the mortgage first and then saving to pay for the patio. The mortgage is more important, a roof over your head is a need. Like you said, a patio is a want.
@sayless14459 ай бұрын
💯
@dsstudio76Ай бұрын
Exatamente.
@eddiejoseph15849 ай бұрын
Loved this segment. Hope we get more like this!
@katyedwards39359 ай бұрын
Me too.
@SRTBOAT9 ай бұрын
They make $70k. They do not need a $50k patio. That's insanity. The problem isnt debt. It's that their wealth building is postponed by a lot. If they made $200k this is a small part of their world. But it's not. Only caveat being the patio raises the property value, but how much?
@gonzaga453779 ай бұрын
I wish they would have asked how much the house is worth. I can't wrap my head around a 50K patio that can only be used part of the year.
@todddetz11189 ай бұрын
Not 50k that’s for sure
@JumaadJ9 ай бұрын
Nothing you can pay cash for is unaffordable
@SRTBOAT9 ай бұрын
@@JumaadJ It's unaffordable if you have any aspirations to be wealthy. It's fine if their main motivation isn't wealth, but they gotta buy within reason. They make $70k. Buying a $50k patio is nonsensical. That's more than their yearly take home pay not including expenses like food and bills. And they dont even have the cash yet. They're gonna try to cash flow this month to month lol. It'll take them forever. Just because you can buy it with cash doesnt mean you should.
@abigailsmith86909 ай бұрын
We make over $200k and I can assure you, $50k is NOT a small part of our world! We balk at spending $5k on the house instead of putting it into the mortgage, these people are wild.
@tehSlushie9 ай бұрын
Waiting 2 years, that estimate of $50k for the patio will also go up. I don't know many contractors that say an estimate is good for life.
@pajareselena8 ай бұрын
Build the patio. It will add value to the proprrty. Will be less expensive now than in 2yrs. Use it to entertain and improve your network. That will also help with anxiety, to have friends and entertain. You can even end up with a better job..
@jennifercarpenter44559 ай бұрын
I say pay off the mortgage even if patio costs go up!
@alycat91869 ай бұрын
I voted for the patio bc life is short. Kids grow up so fast and grand kids and 2 years vs 5 years is actually a lot of time. Say your kid is 15 now and 20 in 5 years and now you don’t have all those opportunities to hang out bc they left to college. And the fact that it’s cash makes it responsible. Not like they’re going into debt. And I agree that the cost is just going to keep going up. Enjoy those sunsets, those beers and those bbqs!! 🍻🌅
@matts22879 ай бұрын
My fence and patio are trash but even I know those aren’t priority. I’ll take care of that after I pay off my mortgage in 7 years.
@miriamllamas2249 ай бұрын
And do you still enjoy the patio? If you invite me over and I'm put off by the state of your patio rather than enjoying the gathering, I don't deserve to be invited. ❤
@karengoetchius7948 ай бұрын
I loved this segment! I definitely vote on the side of the patio also. Like Jade and Rachel pointed out, they will have both things paid for in about 6 years, so why not do the patio now. Their heart's intention is to entertain after the losses they've had, they sound very responsible with their budget and cash flow, they're not talking about taking on any debt to do this. I live north of them by a few hundred miles and have a patio with a fire pit and an eating area and I absolutely love it, and use it 6 months out of the year. If they wanted to compromise they could get a picnic table with an umbrella for now, until they can get to the patio.
@EmpressMermaid8 ай бұрын
Seems like there would be a third option. Scale back and get a more modest patio. That way, there would still be a place for entertaining it's just not a luxury showpiece..
@Chele-nm4qx9 ай бұрын
Use the CD & that extra grand every month & save for the patio, pay cash for it & then get back on the mortgage. Life is short & it sounds like they are doing great financially- so enjoy the patio & throw everything at the house while you enjoy that patio.
@biskit79 ай бұрын
Love Ramsey shows... it's the only place where average salary people, live very rich!!!
@furbabies8679 ай бұрын
That's an expensive patio, by the time they save up for it, the price will have gone up. Keeping paying off the house then save up for the patio. It's a want not a need.
@barnabusdoyle49309 ай бұрын
So wait for the patio to get more expensive before you start the patio? First thing they need to do is not build a patio out of gold and silver.
@trebell8 ай бұрын
I love the fact that they asked questions and gave it some thought! I would love more of these.
@NickiHorn788 ай бұрын
You can absolutely entertain and enjoy time with family and friends without a patio…. A patio is not a “need” it definitely falls into the “want” category.
@jdmecarr9 ай бұрын
What a fun episode! Haha love listening to this. And I love that they're making 70k and doesn't feel deprived. I appreciate that I also like the questions rachel and jade asked -- they're applicable to any other major purchase in life
@philcyr709 ай бұрын
$50k for a nice patio is not unreasonable. 3 years ago I had a basic concrete patio done and it was $15k.
@masterpooshi60319 ай бұрын
You got scammed.
@donnafontaine27999 ай бұрын
Over paid the worker
@philcyr709 ай бұрын
Didn’t pay a worker I hired a company. I also got 2 other quotes and the company I hired was the least expensive.
@WhatShallEyeDo4U9 ай бұрын
What sort of space-aged patio are they building...?
@bigpicturethinking56209 ай бұрын
A Bidenomics patio.
@Fishouta9 ай бұрын
It's amazing how it adds up. Mainly labor.
@mikekent9919 ай бұрын
That’s actually a very realistic estimate for what they’re describing. Sadly, it does cost that much!
@kariforgie4579 ай бұрын
Running that propane line is probably a lot of it. But if you are going to use a patio in Pennsylvania. You will need it!
@Z52-g1i9 ай бұрын
The patio would pay for itself in increasing the value of the home, but paying the house down does that too.
@blackworldtraveler37119 ай бұрын
I would have negotiated with builder and at least extended the foundation for patio might have been much cheaper in the long run. Maybe even the roof to accommodate one while building the home then save to do additional things later while still paying the house down.
@towel-ie75549 ай бұрын
Increased value doesn't matter - they aren't selling.
@Z52-g1i9 ай бұрын
@@towel-ie7554 That may be true in their current situation, but anything can change in the next 5 years. Investment-wise, putting in that $50k could get them an extra $10k-25k probably more quickly, and that's a very conservative number. And if they sell due to life's curveballs, they'd see that return on investment. Paying the house down wouldn't give them that return on investment until 5 years from now, not as quickly at least.
@EmilymiaRUSSIAN9 ай бұрын
Don't just set your financial goals without consulting a financial advisor. Their expertise ensures a solid plan for success. Building wealth involves developing good habits like regularly setting aside money in intervals for smart investments.
@CharityjosephineL9 ай бұрын
Thanks for the advice! I'm new to financial planning and wasn't sure where to start. Any tips on finding a reliable financial adviser or resource to guide beginners?
@Elizabethwispa9 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 is not about having money to invest in stocks,but also you need to be knowledgeable, persistent, and have strong hands to back it up.
@Brittanyfineface9 ай бұрын
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. who is the driving force behind your success?.
@Elizabethwispa9 ай бұрын
@@Brittanyfineface Alice Legan Mitchell
@Elizabethwispa9 ай бұрын
She’s the license coach I use.
@rickenbacker4729 ай бұрын
$50K for a patio is too much for their income. I built my own 4x5m patio (big enough to enjoy the outdoors) for less than $2K. I'd budget maybe $15K for a scaled-back patio, get multiple quotes (or build it myself), and put the rest towards the mortgage.
@chaselesser31919 ай бұрын
Yeah I think that was my only concern, but they have been doing a solid job other than that. But for them do do that on a $70k salary is wild. I’d like to know ow there budget and age and location.
@resaboutb.95669 ай бұрын
Fun segment! However, $50K for a patio?? Are they certain they can't get something fabulous for the cost of the matured CD?
@mariorta50179 ай бұрын
He wants a full landscape done with outdoor kitchen, pergola, fire pit, flowerbeds, gravel and sod. Is not just concrete patio.
@jeretso9 ай бұрын
Sorry to rain on you lol. Patio is nice but winter is too cold and summer has bugs unless you nuke the area. You will use it 3 months max. We spent a ton of money on a patio used it for a few years and now it collects dust. Same thing happened to the neighbors screen porch. I would do a sunroom instead with fireplace, folding doors and AC unit.
@Investing1239 ай бұрын
No one asked how old they are. Age will make a huge difference, if in your 20,30,40 or even 50 then pay off your debt. If in your 60 or more then enjoy your life build the patio.
@Muchacha20249 ай бұрын
I'd say pay off the house.
@jamestyler36989 ай бұрын
I would have asked what the house is worth. Adding a 50k patio on a 150k house would be ridiculous, but adding a 50k patio on a 500k house might actually be worth it.
@dougf99009 ай бұрын
True, but in this case their house burned down and got rebuilt, so their new value is probably way more than what they paid
@Redraven29679 ай бұрын
There is only one fallacy in having that awesome feeling of the paid for house and no debt, having to go down to the county every year to pat the government for the right to continue to live in what you own. My blood pressure goes up incrementally each year with how much my taxes go up because the “market value” goes up. You should only be taxed on realized value not potential value.
@arthurmedici6 ай бұрын
I just love when these two co-host. It's such a good vibe.
@amerwine9 ай бұрын
Get the patio, enjoy your house. I would consider that extra living area. I spend all my time outside so that’s what I would do. And I live in PA also
@Judep42379 ай бұрын
Only make 70k and they want a 50k patio ???
@ghostbird929 ай бұрын
I know. I thought they would say their household income was $200k or something.
@autumnjerene9 ай бұрын
If they pay cash, who cares? There's a ratio of yearly income to cars because cars go down in value. Whereas building a great patio onto your home will significantly increase the value of your home. Spending $50k on this very upscale patio will likely add $100k value to the home.
@weldinggirl9 ай бұрын
@@autumnjereneI know but I don’t think they care about the value of their home, they just built I don’t think they will sell anytime soon, plus the taxes are going to go way up
@magnang9 ай бұрын
That seems high to me as well. That's almost 1 full year of take home pay for them, after taxes etc.. And it won't necessarily translate to their house going up 50K in value, maybe it adds 25K tops..
@ashleywhite86949 ай бұрын
As someone who DIYed their own paver patio after getting quotes for something similar to the callers…the price they got is in-line with the industry. Material costs alone for that thing are expensive, plus add in labor. I scaled our patio way back to just a patio and we did it ourselves and it was still $7,000. That didn’t include planters and a pergola, and we went with the cheapest pavers we could find, not necessarily the ones I absolutely loved. So I will say, for what they are getting I’m not surprised by the cost.
@saeedhossain60999 ай бұрын
10:50 income is projected to go up js a terrible way to budget. self financing or otherwise, spending money you don't have is a great way to get into financial trouble.
@nikitaLEGALL4 ай бұрын
I really enjoyed the way thus couple respected each other in the process of making this decision. ❤
@MichaelHasebroock9 ай бұрын
How about a 20k patio and 30k towards the mortgage?
@gregoryotte25849 ай бұрын
They double count the CD. In either scenario the CD cuts out 2yrs. But if they do both patio then mortgage, the CD is already used for patio, so mortgage will take 2 yrs longer, bringing total from 5.5 to about 9 yrs.
@mlovespring78929 ай бұрын
I am on the same boat - just bought my house and it needs patios in our backyard for our kids to play their pools in. But, I need to pay off my house first. Baby steps......❤
@IraDuncan9 ай бұрын
I would've attacked the mortgage too. Once it is paid off, a $50k patio is peanuts compared to the mortgage payment. I built a firepit and a new deck and my cost was $1800. If I'm running gas lines, it would be for a hole house genset. My $0.02 donated for free.
@joshw74159 ай бұрын
Build the patio! You’re in a great position and you need to enjoy your home. It’s your place of comfort and solace! Go build the patio!! You’ve worked hard! That said, maybe do some Uber Eats and get some extra cash to speed up the process
@Fishouta9 ай бұрын
Also, this will be an amazing improvement to the property and almost guaranteed ROI.
@annhopkin50798 ай бұрын
When the CD becomes mature buy a 25,000 patio. A $50,000 patio belongs on a million dollar house. For a couple who brings in 200,000 dollars a year
@Locomaid9 ай бұрын
Patio…but scale it back a bit, maybe?
@drn133559 ай бұрын
That is what I was thinking. .LIke they will have 27k soon. Scale back to 27K
@franklincheney36539 ай бұрын
Throw some pavers in the gravel, buy a nice cooking setup, table, and comfortable seating for $5K, and pay off the mortgage. $50K patio won't impress the right kind of people.
@Tobluesmetal9 ай бұрын
I would pay off the house, but if patio is the decision, reduce your requirements and get extra quotes to reduce that 50k
@user-ly3ik9oj5k9 ай бұрын
I'm not even going to let the video start and I'm going to pick pay for patio. Let's see how it goes.
@crashtestdummy19729 ай бұрын
Same! Lol
@user-ly3ik9oj5k9 ай бұрын
I was right lol
@patti93398 ай бұрын
Sheesh. Must be a great patio. I had a 20x30 stamped concrete patio installed 18 months ago for 10k
@hannah200710007 ай бұрын
You got a deal! I couldn't get that for 2x that here. I'd be tempted to do it if I could.
@marcuswashington4619 ай бұрын
pay the house off and get more bids for patio...gotta be able to get it way cheaper than 50grand...not sure you would even get the value back for that investment!!
@songsjj8 ай бұрын
I'm surprised they didn't ask what the homes current value is. 50k patio on a 500k and up value may be worth it. 50k patio on a 300 to 350k home may be excessive.
@steebreeotey9 ай бұрын
This is such a GOOD “problem” to have during such a crazy financial time for many. I hope to have this dilemma one day 😅 & I’d definitely choose the Patio at their stage in the game too. I feel like the wife needed “permission” & I hope they really enjoy their new patio. ❤
@YoshiV8198 ай бұрын
Totally agree on patio build! I do feel like $50K is an insane amount to spend. We did a 16'x18' concrete pad bedded in with landscaping, a cedar fence, 13' cantilever canopy, industrial steel fireplace, Weber grill, ceramic egg smoker with Loll outdoor furniture dining set for 7 along with fireplace seating. Spent about half their budget, 8 years old and everything is holding up brilliantly. I can look around my neighborhood and see plenty of decks and masonry spaces of similar age that need a lot of work. Live in Ohio so see similar climate cycles as PA. And, yes...no debt required!
@fhuber75079 ай бұрын
They completely violated Baby steps... Approved expensive vacationing while the house is not paid off. Approved adding more debt. Didn't ask about retirement investments. Didn't ask about CC debt... Didn't ask how much debt they have for cars. Didn't ask how much student loan debt they are sitting on. "We're on Baby Step 6, but we are spending like Congress." And these 2 hosts think it's fine. It's like the hosts and the caller never heard of Dave's plan.
@TH-up2rg8 ай бұрын
The couple said they're in baby steps 4,5, and 6 - saving for retirement, paying off the house, and spending/saving/giving. Those steps occur simultaneously and gradually, unlike steps 1-3 (starter emergency fund, pay off all non-mortgage debt, and full emergency fund). So they don't have any car payments, credit cards, or student loans. So the vacation is fine at the stage they're in because they cash flowed it, though I completely agree Jade and Rachel should've asked about retirement savings. If this couple started later in life, they might need to catch up there first Personally I think 50k is way too much for a patio + they could split the difference instead. I feel like the other hosts would've asked different questions and advised differently too
@davecopp93569 ай бұрын
Daves advice was: Take out a Heloc and put the money into solar, an EV cyber truck and a two month cruise.
@MrCoxmic9 ай бұрын
You forget that everyone should pull all their money from their retirement, especially their roth, to buy crypto.
@twgok139 ай бұрын
Dave: sell your wife
@katyedwards39359 ай бұрын
He'd NEVER say that or what's below it. You must be living in an alternate universe if you think he'd suggest any of that malarkey.
@formula1129679 ай бұрын
Don't forget Daves #1 suggestion....get term life insurance!
@katyedwards39359 ай бұрын
@@formula112967 That's not a bad thing.
@SwarmyPopsicle9 ай бұрын
Patio. Life is short ❤ live it
@SoUnDMaN8319 ай бұрын
I’d pay the mortgage off first. If debt is the dirty four letter word they claim it is in their household, then pay the mortgage first.
@ChrisCardenDrums9 ай бұрын
Im with Samantha on this one. I understand where mark is coming from, and im sorry theyve lost some friends, but you've gotta focus on what you can control. A 50k patio making 70 is the far end of luxury. It can be your reward for BS 7, give you a goal to keep moving towards.
@jillgott65672 ай бұрын
Lost friends ? Because of not having an expensive patio ? Who cares ?
@parenaissance90919 ай бұрын
You missed the question of how much the house is worth. 50k on a 100k house?? NO. 50k on a 200 or more house???MAYBE
@s-magee9 ай бұрын
They didn't say the house was worth 100K, but that's what is left on the mortgage.
@patriotdrone95669 ай бұрын
Uh its not a 100k house. Thats the balance left. Could be 500k house or more
@parenaissance90919 ай бұрын
You both totally missed my point. You don’t put a 50k patio on a 100k house which is why you need to know how much the house is worth. If it’s a 500k house then it’s different than a 100k house or even a 250k house. Get it??
@patriotdrone95669 ай бұрын
@@parenaissance9091No you're just really bad at communicating. The house is obviously worth well over 200K, so your comment it pointless.
@WhoDevv9 ай бұрын
@@patriotdrone9566no you’re just bad at understanding, they made a simple statement.
@blackspiderman18877 ай бұрын
Also something to consider is that the estimate is 50k but that can easily bump up to 60 or 70 depending on if they run into complications. At least the good news is they are not going into debt for the patio. They are saving for it
@kzfingerprint9 ай бұрын
I say patio. And i hate debt. But Life is short. It sucks to make improvements later that you don't get to enjoy/enjoy as much. There's something to be said of price per use. That being said, i wouldn't personally pick a $50k patio, lol. I literally just bought the cheapest pavers from home depot, only when they were on sale, and did a crappy job by myself. And i make more than they do. But patio.
@richsanossian86759 ай бұрын
Both you girls are wrong. The interest savings will more than pay for any increase in the patio
@ShannonTeaches8 ай бұрын
I live in PA as well. He's out of his mind for saying they'll use the patio 7-8 months a year. July-August is too humid and buggy in PA. Late November-Late April way too cold, even with a fire pit (I have one as well on my deck). He'll get maybe 4 months and that is barring all the rain we have in fall and spring.
@mikeshaw46109 ай бұрын
Without a doubt pay off the mortgage, then save to cash flow the debt. There are so many benefits that come with being totally debt free. Financial, overall well being from having extra for unexpected expenses, etc…
@rafaelcardenas5158 ай бұрын
I saw that coming and for THEIR case I kind of agree with them. My only thing is that I don’t really care much about patios (personally) but is ok for them.
@wufflerdance94819 ай бұрын
dave wouldnt have said patio while they have house debt😂
@mattbenz999 ай бұрын
Yes, he would have. This is inline with the Baby Steps. The mortgage is the only debt that Dave gives people a pass on.
@fancyquebecoise45509 ай бұрын
I would do some sections of the patio, not all. Id pay off the house then do add-ons. Also, i would have like to know how much the house is worth.
@Fishouta9 ай бұрын
Might or might not work. It's stonework. It kind of all needs to be from the same lot. This would be like replacing half your kitchen counters with granite now and waiting on the other half for a few years. Your granite will then never match.
@fancyquebecoise45509 ай бұрын
@kbme9853 that is a good point...
@lot21969 ай бұрын
Since their paying cash, fixing up the home as you go along isn't bad. Edit- 50k is a lot, scale it back.
@barnabusdoyle49309 ай бұрын
Yeah, your patio doesn’t need to be made out of gold and silver. How in the world is this patio going to cost $50k?
@Fishouta9 ай бұрын
@@barnabusdoyle4930Stonework. Groundwork for gas and electricity.
@3ddiEdotcom9 ай бұрын
Count me as on Team Samantha. A lot can happen in 2 or 3 years that could totally up-end their happy plans. They've already been hit with a fire. What if Mark suddenly gets downsized? I'd much rather have the mortgage paid off and not ever have to worry about foreclosure or being forced to downsize, especially with rents being as insane as they are now. I can build a patio anytime after that.
@Jericho96969 ай бұрын
$70k/year and they made it that’s awesome. People in the comments will still complain that inflation is too high. Toughen up, people!
@blackworldtraveler37119 ай бұрын
They seem like the type that work together to get things done instead of complaining.
@busybee66929 ай бұрын
But saving for two years and then starting on the patio will for sure increase the budget either because of inflation or because they will want to change or add something to the building plans. If it was me, I would only use what I had in the CD to build a patio with that budget. It will be almost and instant gratification and it may just be enough of a patio to entertain and add later or a bit more at a time. This will still allow for that extra principal payment on the mortgage a month or some months of using that extra money to add to the patio. What if something happens and you lose both the home and the patio?
@Alexzw929 ай бұрын
Did they say their household income is only 70K?
@mph58969 ай бұрын
Correct. They never went into what they do. Midwest living.
@jimmymcgill67789 ай бұрын
@@mph5896 Does it matter what they do?
@KENTUCKYUSA19 ай бұрын
Yes. And no idea what savings they have or retirement income. Is she SAHM? Or working? Or how they make their living? Way too little info here.
@Fishouta9 ай бұрын
@@KENTUCKYUSA1It sounded to me like they were at least over 55. Yes, it would have been interesting to know "how they work hard" and what they do.
@jimmymcgill67789 ай бұрын
@@KENTUCKYUSA1 That does not matter.
@JerfferyLeoy9 ай бұрын
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month 2024
@BigJonny-wz1cc9 ай бұрын
Wow that's huge, how do you make that much monthly?
@MohanKallingal9 ай бұрын
I'm 37 and have been looking for ways to be successful, please how??
@JerfferyLeoy9 ай бұрын
Sincerely speaking.... I will continue to trade / and stick to expert so nia Si l via / daily signals and guides as long as it works well for me.....
@Jonathanmarsh-vz7ot9 ай бұрын
Woah for real? I'm so excited. Sonia silvia strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started
@AlexIzu-gb1fz9 ай бұрын
I'm new at this, please how can I reach her?"
@KENTUCKYUSA19 ай бұрын
Always. Pay. Off. The. Mortgage. Life happens. You cannot afford a $50K patio (absurd) at your income level anyway. And of one of you loses a job or gets really sick, you could wind up in real debt you can't get out of.
@busybee66929 ай бұрын
Losing the home, and the patio along with it is a huge risk.
@aprilstiek74309 ай бұрын
Why didn’t they ask about the couples age or retirement to get a full picture? They seem really smart with their money but you never know unless you ask.
@jwang73119 ай бұрын
I would ask them: 1) how old are they? 2) how much does the house worth currently?
@melissarodriguez45319 ай бұрын
I say $25,000 patio (shop around) and do some of the work to save money and the rest the money to the mortgage
@CharlotteCarMoments8 ай бұрын
I know its not Ramsey advice, but I would say if you are going to live in the house a long time, get your patio and pay the house off after. Life is short and you don't have other debt and not super irresponsible like other callers. We did some backyard upgrades last year and wish we had done it sooner (before Covid and could have enjoyed it when we were all stuck at home)
@janelleg5979 ай бұрын
This was great. Different and fresh
@sonokoful9 ай бұрын
I just got my 1000 sqft patio done in New Jersey for 8k. What kind of patio are they doing for 50k in PA???
@Fishouta9 ай бұрын
Fancy expensive high end stonework.
@KimberlyManuel-ee3ov8 ай бұрын
As long as you know you are not going to lose your job, do what you want. But if one loses their job they are going to wish they had paid off that loan but they can sit on the patio and look for a new job. I would pay off my house first. My husband lost his job years ago from a chemical plant (it closed down) and it took him 4 months to find a new job at a 27% loss in pay. We had small children and I was a stay at home mom and it was scary, luckily we had the money to get us through those 4 months.
@curtis36889 ай бұрын
For sure could do a sub $27k patio. That outrageous enough. Keep saving and make better decisions. Should’ve asked what other savings they have. A pension or $1M+ retirement account makes a big difference in spending choices like this. Should’ve also had George on here to tell him to spend less on wants
@natersalad8899 ай бұрын
Because of the high cost of the patio. I'd pay off home first, then buy patio afterwards
@gabbyaboutbooks8 ай бұрын
I actually really love this segment!!!
@justmexican919 ай бұрын
They milked this too long. This video did not need to be 15 minutes long
@SoUnDMaN8319 ай бұрын
I agree!
@DrManHattan3n209 ай бұрын
I cash flowed a $70,000 patio and decking. Worth every penny. The mental gratification when I step out onto my decking is great. Addition: I make $267k a year, own 3 homes, 2 of them rental properties. So in reality my tenants paid for the patio.
@aaronalquiza96809 ай бұрын
5 years ago i built my 15ft x 15ft patio for less than $5k. it's been solid and we still enjoy it most of the year. this year i'm adding another 100sqft to the patio and a pergola over it, planned cost is around $3k.
@supernova11711Ай бұрын
Dave would be screaming “Pay off the house!”. That’s my opinion as well. I actually laughed when I read the title because it seems like such an obvious answer.
@jxecho11924 ай бұрын
It wouldnt extent it to 5.5 years. Would be 2 years for the patio then another 6 to 7 years after to pay off the house. They are taking into account the 27k bond that would go to the patio and not the house anymore.