Should I SKIP This Baby Step If I'm SINGLE?

💵 Start eliminating debt for free with EveryDollar - ter.li/3w6nto
📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or send us a message - www.ramseysolu...
Next Steps:
📈 Are you on track with the Baby Steps? Get a Free Personalized Plan - ter.li/5h1r0i
📱Download your free Ramsey Network app today! - ter.li/cvqzyb
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ ter.li/rqwdws
🍸 Smart Money Happy Hour ⮕ ter.li/tmj3vq
🧠 The Dr. John Delony Show ⮕ ter.li/s5yazz
💰 George Kamel ⮕ ter.li/dc2gee
💡 The Rachel Cruze Show ⮕ ter.li/a6emrr
💼 The Ken Coleman Show - Highlights ⮕ ter.li/v8n4u8
📈EntrLeadership ⮕ ter.li/g7s9g0
Ramsey Solutions Privacy Policy
www.ramseysolu...
Product Links:
Total Money Makeover: store.ramseyso...
Questions for Humans: Couples store.ramseyso...
New! 2025 Ramsey Goal Planner: store.ramseyso...
EveryDollar Premium Version Physical Gift Card: store.ramseyso...
Baby Steps Millionaires: store.ramseyso...
Building a Non-Anxious Life store.ramseyso...
New! Breaking Free From Broke store.ramseyso...
New! Get Clear Career Assessment: Find the Work You’re Wired to Do store.ramseyso...
Know Yourself, Know Your Money store.ramseyso...

[@christianc7420]

This guy is 25 with both parents gone..? Wow. Im sorry man youre doing good though, they would be proud.

[@Nepthu]

I empathize with him. Horrible situation.

[@claytonblunt5752]

I have a close friend that lost his dad at 16 and mom at 19. I go out of my way to help him with home improvement since I’m a carpenter. He is doing well now, but I feel for him every holiday and major family dinner.

[@DavidSmith-wp2zb]

"Go on a trip" during a pandemic! That kind of advice should be illegal

[@jswiz3097]

Pretty common in Pittsburgh, me as well

[@negan4089]

@@claytonblunt5752 do you ever invite him over for holidays?

[@mildchaos6037]

Can’t help but be happy for this guy. Has a safety net worth a full year, makes $70k and he’s only 25 with no loans. He’s got the golden ticket. Live life to the fullest king, you’re in a better situation than 95% of 25 year olds

[@lavienestpasunlongfleuvetr2559]

Yeah, financially, but he's got no parents. In that sense, he's definitely NOT in a better situation than 95% of 25 year olds.

[@Nickbronline]

99.99%*

[@hunterhands7930]

@@lavienestpasunlongfleuvetr2559bro why even bring that up?

[@ryancalhoun2910]

@@hunterhands7930because there's more to life than money

[@robertlunderwood]

$70k/year in Pittsburgh and single... He's good.

[@massiminitrains]

Definitely. Though tbf, having $64k left on his mortgage probably only gives him 40% equity or less.

[@riverdaletales8457]

He’s fine *

[@AboveVenus1]

I think that’s because he’s single, less expenses 😂

[@user-tb7rn1il3q]

The property taxes in Allegheny county are no joke.

[@brandonmcmillan9641]

Yes. Im from Pittsburgh $70,000 per in Pittsburgh, he is living really good

[@clair233]

The panic of my parents not having money has stayed with me to adulthood.

[@MelissaandMoney]

This is totally normal! Most of our beliefs around money are centered in what we witnessed as children.

[@barbaraleszczynski2214]

Clare Hill ......Yes...so true...I understand completely! I suffered the same. That fear and anxiety seems never to leave you!

[@mmidou2093]

Same here. I appreciate their feedback to him because he is me. I max out my 401k, hsa make six figures. My husband makes double my income but I still freak out over a slight amount of money hein spent

[@MrBrewman95]

Absolutely same to me. I’m 25 and it’s sad that my parents have to work out of necessity because they didn’t plan very far. I’m getting my Roth set up, building savings, avoiding debt at all costs and paid off my student loans. My goal is to retire at 60-65 and have a house paid for and live off the interest in my retirement account.

[@saptab1344]

Just make sure you do something different with your money so you don’t become like your parents, you should invest

[@JasonFerreira]

Having a family who stressed over money will definitely change how you operate.

[@blackworldtraveler3711]

All about choices.

[@00Noontide]

Good caller. Mellow character. Guy has good backbone and will definitely make it in life. Blessings for him and the Ramsey team 🙏🏻

[@Zatoichinisanyon]

I know many people who grow up in a family that struggled financially, and when they got a steady paycheck blow it or live well above their means. I give this young man credit. He's also has a manager who pointed him in the right direction, and again to his credit, took that direction.

[@actuallyterry]

I'm one of those unfortunately. I woke up really late.

[@actuallyterry]

Just saw this comment I made 2 years ago. It's January 2024 and I'm set to be debt free by the end of this year. I can see the light at the end of the tunnel and I feel so excited.

[@theamerican7131]

good job. way to go@@actuallyterry

[@supermario5697]

​@@actuallyterry I am happy for you. The year is halfway over. Are you still on track? Just a little motivation 😊

[@offerskirksey2255]

The way they are both twirling those pens and staring into space the exact same way. Like Father, Like Daughter! HAHAHAHA

[@chantalreneehayles7976]

so cute!

[@adibchowdhury8819]

I didn't notice that the first time, THATS HILARIOUS 😂

[@olivewoo522]

You forgot the part where they cross their arms. ❤️

[@alladreamwedreamed]

Hilarious, cannot unsee🤣

[@talyahr3302]

Wait is that his daughter???

[@hitandruncommentor]

As someone that just got out of poverty; the fear of slipping back is real and i can see it getting worse.

[@bellrose2659]

Having a good safety net of 6+ months of expenses really eased my mind so maybe that would help you too :)

[@BlakeWheelersBurnerAccount]

Hope you’re doing well! :)

[@Cirearyk]

25 with this mentality, he’s going places! What a great mindset. He’s doing far better than most people.

[@tylerfuller2340]

Sitting in Nathan’s exact shoes except for the house at age 23 miss my parents everyday but don’t miss their poor spending habits and don’t want to fall into their situations really needed this advice

[@medviation]

Shout out to all the single people who skipped baby step 5!!!

[@blackworldtraveler3711]

I’m single and don’t even know or want to know what any of that is.

[@PapOwnYou]

@@blackworldtraveler3711 saving for your kids school :p

[@blackworldtraveler3711]

@@PapOwnYou Well that’s horrible. I only do occasional niece/nephew rental.

[@PapOwnYou]

@@blackworldtraveler3711 Oh that's a good idea. You take them for the day and you give them back. It's like blockbuster ahah

[@blackworldtraveler3711]

@@PapOwnYou Sometimes a few weeks when they are older.

[@04autumn]

How are you still single?! Sounds like a great man. Your parents would be so proud.

[@Pizzageek-jc4xp]

he's only 25 . he sounds just like a smart guy.

[@allthingsinvestingandfinance]

12 months in emergency funds that’s awesome 👏🏾

[@wewhoareabouttodiesaluteyo9303]

Year and a half for that warm fuzzy feeling.

[@Berserk1Manga]

That happens easily with no kids and spouse.

[@Guernsey576]

​@@Berserk1Mangaand possibly he has that because his parents died.

[@reginatheresa199]

Wow that was the best advertisement for Rachel’s book ever! I completely identify with the caller’s mindset because I grew up in a similar household style. Can’t wait to read the book to learn more

[@riverdaletales8457]

This whole video is an Ad 🤣

[@CB-vl8nt]

Yeah girl

[@jimpodolski7871]

He should guard his heart and not fall for a woman that's gonna take half of what he owns. Pray for the right one brotha

[@sam.lipchutz]

He should find someone that makes more than him and has rich parents

[@jodylarson4697]

"Half of what HE owns." There's your problem right there. When you are married, you BOTH own the mutual assets. If you divorce, you usually divide 50/50. So how is it guys keep on thinking SHE is taking HIS stuff?

[@TBlev215]

@@jodylarson4697because they’re the man’s assets when he get married, and most often the man is the primary breadwinner of the relationship, so yes, it is his that he worked for. Combining finances is horrible advice

[@Chet_24]

​@@jodylarson4697 wrong! What you build together is owned by both. What you have before the marriage is only yours. Gtfo with that nonsense of getting half the stuff for just existing.

[@caden01691]

​@jodylarson4697 Your mentality is the exact reason for prenuptial agreements. If someone obtained something before the marriage then it's rightfully theirs if the marriage ends. Doesn't matter if it's his or hers pronouns. Everything obtained as a couple is to be split 50/50.

[@carmen2683]

Married no kids 37 years old. Work for goverment planning on retiring at 55. Just bought a house in the Philippines to retire in

[@552mustang]

You guys are all prepared.

[@seppyq3672]

I'm single no kids and 37. I don't know if I'll ever be able to retire. Lol

[@negativesplits06]

Nice.

[@lashondamiller2982]

@@seppyq3672 watch dave ramseys 7 baby steps video 👌

[@maxhardcore8034]

@@seppyq3672 offer your snapper to the local truck stop, offer your services for 50 bucks and you will be fine.

[@joeplem5329]

I make 40k a year which is alot when you don't have a wife and kids to support.

[@riverdaletales8457]

🤣 yeah very true . It seems like the key to life is not having kids and not maintaining a girl /man.

[@honeyrose7663]

I make 40k single and no kids but it's not enough for me. I'm near the city where my job is located so maybe that has something to do with it. Half goes to rent..

[@NoahPARK82]

I can agree with that specially if you are not paying any debts, just your car insurance and home or rent payment

[@blackworldtraveler3711]

@@honeyrose7663 Being single with no kids that’s your choice.

[@KellyMichaelsTV]

What city/ town? It's all relative

[@rh230]

I'm also Nathan from Pittsburgh, but very different circumstances. He's an inspiration, and I hope he can learn to start enjoying life. I hope that I can look to this comment in a year and be in even a similar situation. Starting Baby Step 2!

[@angierice7154]

Fear is a real motivator, and it's hard to let go of. I was paralyzed by fear of messing up after watching my parents get creditor calls and juggle money. You have to learn to trust yourself because I KNOW I manage money better than my family. Ironically, fear can drive great results. I'm in my early 40s, and I'm ahead of where I wanted to be to retire at 60, more secure than I imagined possible, and on Baby Step 6 (while trying to start on 7 so I'm not holding what I have just for me). He's done an amazing job... I hope he'll trust himself to enjoy life a little more along the way. And stay single, dude,.... life is so much easier!

[@blackworldtraveler3711]

Just like my fear of marriage and having kids .

[@laserwizard2]

I wish all our young people had his sense of commitment and honor. Great person!

[@1amG1G1]

Goals🙏🏼 I can't wait to reach the baby step where I can be generous without worry❤️

[@cazpk6840]

Me too 👍

[@Nashinash]

Even just $5 a month to a local animal shelter or something you care about is appreciated and gives you a feeling of generosity. Don’t wait.

[@00Noontide]

Kid is killing it. Great work!!!

[@am2brok]

Impressed. Not having the safety net of parents does make you think more about being super independent. I hope he now has a line item in his budget strictly for fun/hobbies/vacation, etc : )

[@FallicIdol]

He’s prospering but in survival mode

[@MsJoyce31202]

👍

[@peacheskong2245]

Ohh... Yep..

[@calmingbabysleep1256]

That's me. At 30. Difficult to find balance.

[@wevibin375]

​@@calmingbabysleep1256part of it is because we know its highly likely things are going to continue to rise in price

[@titolovely8237]

being someone who entered the job market in 2009 and being broke/underemployed for most of my 20s (thanks housing crisis), it makes me glad to see that future generations didnt have to go through that and younger people are doing better than we did. i didnt get to where he was at until i was almost 30. grats dude.

[@meganmarie4289]

I feel this one. I’m kind of like him my parents told me to save and save I did. All birthday money for years went into savings. Although I don’t have a house yet since I’m not sure if I’m staying where I am but he’s doing fantastic! Way to go.

[@davidmuth4571]

I learned the frugality thing from parents who grew up during the Great Depression. People from that era were very much in tune with what DR is saying.

[@user-lc7zt8sk6i]

When I dont have money it's so easy to window shop and say I'd buy that. When I have money I cant properly gauge the benefit cost ratio and walk away buying nothing. 🤣💀

[@TeKnoVKNG23]

@Toynbee Yonkers Amen.

[@user-lc7zt8sk6i]

@Toynbee Yonkers One day you'll be a bit older and wish you were younger and had zero worthwhile responsibilities. ENJOY!

[@frandeser]

That's correct

[@user-lc7zt8sk6i]

@Toynbee Yonkers Go get it brother! 👍💯

[@blackworldtraveler3711]

@Toynbee Yonkers I had a career and very serious responsibilities from safety of millions of passengers to handling radioactive isotopes. Semi retired for ten years and retired 15 years early this year. All about choices.

[@maesancarley699]

Dave should start a dating site....

[@Dani_13th]

Wow he actually should!! Everyone would surely be on the same page financially!! 😁

[@josephwheeler1]

Either that or a bunch of broke people would realize that there's a bunch of not broke people there. 🤔😂

[@edwardmauer7442]

It'd be overwhelmingly male though.

[@maesancarley699]

Or maybe just normalize posting what baby step your on instead of your astrology sign. I’m open for ideas

[@dvelop4975]

@@maesancarley699 lol

[@sumobowler3790]

skip baby step five for now, but realize you may have to do it in the future. there is nothing wrong with marriage and / or having children but one or both should happen organically and not be forced. some people hold marriage and / or parenthood in high regard. i disagree. it is a different life path, but neither is an achievement. married people and parents are not superior to singles and non parents, and certainly neither marriage nor parenthood is an obligation

[@NoahPARK82]

yeah but normally society thinks they are superior

[@sumobowler3790]

@@NoahPARK82 "Normal sucks!" Dave Ramsey

[@MysteriousFuture]

I don’t feel like marriage is for me and the environment nowadays in the US heavily disincentivizes it. When you’ve just turned 30, never been in a long term relationship, and you’ve learned the truth of the nature of women, I just think “no thanks, I prefer to work on myself first” 😂😂😂 Work hard for 10 years to reach a point that I can someday just letting off the gas and begin reaping the rewards

[@genxx2724]

@@MysteriousFuture The same goes for responsible women assessing the available men.

[@MysteriousFuture]

@@genxx2724 well I guess we’re at an impasse and no one seems to have a good solution to resolving the issue. Gotta make the best of the situation

[@TheePrettyGirlSwag]

This guy vs. the “my fiancé has $200k in student load debt what should I do?” guy from 12/1/2020....

[@ThreeNTheMornin]

That’s why you need to focus on yourself when you’re young instead of blindly following someone else

[@jeremyhershberger3012]

If your fiance is gazelle intense on paying off his debt then you will be good financially. If you and your fiance disagree on money then you will want get on the same page.

[@TheePrettyGirlSwag]

@@jeremyhershberger3012 my statement is in reference to a caller on a video posted 12/1/2020. But thanks for the financial advice. 😂

[@TheePrettyGirlSwag]

@@ThreeNTheMornin my statement is reference to a video posted on Dave’s channel 12/1/2020. That’s why reading is fundamental. 😂

[@ThreeNTheMornin]

@@TheePrettyGirlSwag I didn’t misunderstand anything you wrote. I added my own comment as a reply in continuation to what you wrote. My comment wasn’t directed at you but as a general statement.

[@skibum6422]

Good job Nathan. Sorry about your parents. You are killing it at 25 and will be a multi millionaire in the not to far future.

[@krissifadwa]

$70K, single man, no kids, at 25. Well done. The sky is the limit from there. His parents would be ecstatic for him.

[@welon17]

I make half he does a year and already enjoying life. This guy is in a great position

[@msmargiek48]

If I was this guy I would pile up the cash in house and retirement and then plan to be financially free at 40 FIRE baby.

[@dylangreen8018]

Ok so you retire and then do what?

[@_pao_x2]

EL YYEA

[@blackworldtraveler3711]

@@dylangreen8018 You must not have a life outside of work. He can do whatever he wants. I’ve been retired early since May doing everything except go to work everyday. I have no schedule. Home paid off. Zero debt. Nothing really complicated here. Going to be cold and rainy today with ice. Just going to workout then relax, play video games,research and maybe trade stocks, and read my sci-fi novel with a few sandwiches, bowl of fruits/nuts, and green tea...... while everyone else have to drive to and from work in that mess.

[@mrpotat680]

@@blackworldtraveler3711 how old r u?

[@hurt1704]

BlackWorldTraveler that sounds amazing.just curious though, what are you investing in to draw a check monthly?

[@laogalaxy3792]

Why is youtube recommending this video to me in 2024? Rachel in jaguar prints! Purring into my heart. More than I deserve.

[@princesslamour1985]

I'm 35 with no kids not married. With the "kids" money I'm buying property abroad to retire in ✌🏾✌🏾

[@GinaBrittCo]

Omg my dream. Can I ask where?

[@princesslamour1985]

@@GinaBrittCo Europe. I was supposed to go property shopping this yr but....😞. Hopefully next yr is better

[@lv5310]

@@princesslamour1985 Call me lol

[@BuckI2Bdad]

Also, Never get married OR cohabitate

[@princesslamour1985]

@@lv5310 😅😅😅😅

[@TheMotoKing]

Always save but treat yourself

[@blackworldtraveler3711]

You’re already should be treating yourself by just living your life. Especially if you’re single with no kids.

[@shguderjan7181]

I know that feeling. Grew up with the fear that what I have earned, will go away. Wishing him all the best also!

[@blackworldtraveler3711]

I don’t know the feeling at all. Probably because my money works for me paying income.

[@sami-9233]

Inflation does that same exact thing

[@jmc8076]

I’m older but relate to caller and say yes don’t be like me and enjoy your money! My husb and I grew up w/caring but frugal(ish) parents anxious about money. I’m an anxious saver/investor vs husb who sees money as just a tool but happy we invested. We do agree on leaving a legacy and experiences. He’s older then Dave and his dream is a Porsche (good used one.) I’d rather build wealth and don’t like spending esp on myself partly for fear of future but I also love investing! Our mortg is pd next yr so maybe we’ll buy his car after. He so deserves it.

[@MrBrewman95]

When my parents lost everything from 2008 and knowing it could have been prevented from avoiding debt made me angry and scarred.

[@RonJohn63]

Your parents lost everything from *buying too much* house, not just from buying a house.

[@ANAONANA]

Love the way y’all listen ♥️ he’s doing so well in life :)

[@inspirationalnomad]

Smartest thing he did was stay Single with No kids

[@SilentMagician7]

Definitely. He should stick to that for another 4 or 5 years too

[@NunYurbis]

@@SilentMagician7 I'd say he's better off choosing to be a bachelor as a permanent choice. Marriage is NOT beneficial to men, in any way, it's about as risky as going to Vegas and betting half your savings on red.

[@inspirationalnomad]

@Teddy Black Awesome, thank you brother 😉✌

[@michelleg3145]

He’s 25. He still has time for a family

[@inspirationalnomad]

@@michelleg3145 not if he is smart.. stay Single.. if you need an incentive look at all the broke & unhappy people with kids and a family

[@michaelristow2775]

It's good set mini goals within a larger goal and reward yourself when each mini goal is reached. It's really important to have a balance and enjoy life along the ride to that larger goal.

[@Jester556]

It’s about if you grew up in the wealthier group of the people you know or the poorer group. If you grew up with families that had more money than your family, you’ll be driven to earn more as an adult. On the flip, if your peers’ families are poorer than yours, you’ll develop the mindset that you’re alright and don’t need to progress past your parents.

[@MrMasterDebate]

Hes depressed.

[@damianescobedo4143]

Armchair psychologist much?

[@MrMasterDebate]

@@damianescobedo4143 no, he sounds despressed

[@jamiethomas8975]

@@damianescobedo4143 good input man!

[@antiantipoda]

He does sound depressed. I hope he finds help.

[@Pizzageek-jc4xp]

maybe he's a little nervous to talk on a podcast

[@idkmane9645]

Rachels face is always funny to me the way she makes quirky smiles 😆 I love it

[@TrangNguyen_Gabriel]

Great advice for people with anxiety about money. Spending is also a muscle that we have to learn how train for it 😊❤

[@MattSmith-vr4sr]

3 years later I hope this young man is doing great great!! Id love to hear a follow up call

[@hampuskarrlander9533]

I just read the title and thought: "This is gonna be fun"

[@xeik7482]

Me too

[@brianevans6328]

If you have no kiddos you can't do baby step 5. Not really sure why that would even be a question.

[@jswiz3097]

@@brianevans6328 I disagree. Save with the intentions of it being a college fund, if not, use it on yourself in the future. Could save it in mutual funds or stocks and not specific 529 plans.

[@tidus9942]

@@jswiz3097 Why is it the parents problem to pay for their kids college? They will be 18. Not the parents problem.

[@jswiz3097]

@@tidus9942 It isn’t their problem but it’s also not a problem to save for kids college

[@cazpk6840]

Would love to see his other two Ramsey kids coming on and doing a family special - will be so awesome and historic 🔥

[@katiekessler1606]

Rachel, the red highlights in your hair look REALLY great on you!

[@John-bd9fj4435]

I will forever appreciate this channel, you've helped me and my family a lot, your videos, advice and lessons are inspirational helpful to us, I now earn every week. Despite the up and downturn in the market system, I'm having the best time of my life financially. I have built my portfolio massively and I still building....

[@John-bd9fj4435]

Jenny Pamogas Canaya, that's whom i work with look her up and thank me later...

[@BlueStreak706]

Get your sports car while you’re young dude. You got all the other buckets filled, you’ll be fine getting a nice car that’s less than half your salary. Good job!

[@MelissaandMoney]

Yesss, you should always be enjoying your life...it could end tomorrow! Just do it responsibly!

[@Kcducttaper1]

@@MelissaandMoney Within reason. Statistically speaking, this dude has 50+ more years to live, so spending money "because your life might end tomorrow" makes no sense from a statistical, and logical, perspective. That reasoning is actually why a lot of people stay broke their whole lives, but that's a different rabbit hole. What Dave is saying is he can afford to "loosen up a little" and add some steak enchiladas to that beans and rice lifestyle once in a while. Life expectancy has nothing to do with this equation.

[@MelissaandMoney]

@@Kcducttaper1 That is why I said responsibly. This guy is definitely not the norm you're talking about. He would have the ability to loosen up, enjoy his life and hit coastFire if he wanted. Obviously he has a great financial understanding of the importance of saving and paying off debt...that is why he is set up so well to begin with. Living your life to just pay your bills is no way to live. Living within your means and creating enough cushion to enjoy yourself is...which is exactly what this guy has done. I think you may have taken what I said in a different direction so I hope this clears it up for you.

[@Kcducttaper1]

@@MelissaandMoney Perhaps I did misunderstand your intent a bit. My point was just to state that the possibility of a person's life ending tomorrow should not be a contributing factor in spending money. I'd never heard of coastFire before, but apparently I'm doing it. lol Sounds like this guy is already doing it too.

[@Bigcity51]

Lol. When I hear Chris and Dave say you can ease up when you reach baby step 4-6, I turn to my wife and say they are not as dedicated as us.

[@MrMasterDebate]

I got out of poverty. We were on welfare. I understand exactly what hes talking about. I work all the dam time and then when i finally got out of poverty, I realized it took my entire life to do so....so I never built a life

[@rvw3022]

I'm 21 and I was making 65k+ until the first lockdown now I really wish I could sue China for its negligence.

[@CalieIsAJesusDisciple]

Hahaha 😂

[@steveo252]

Makes me wish I was single with no kids! Don’t get me wrong I love my family, but in envious of this guy!

[@ashleykem8052]

So many people commenting that he should stay single. If he is interested in a relationship, he could just find a partner who is equally yoked and continue to build together. I belive building, growing older, and working together to sustain a God centered relationship is a blessing.

[@mike569112]

There ain’t no “makin the baby” step if you’re single.

[@kentondragon9263]

Dave is right...give and ye shall receive👍

[@snow40741]

I have to learn to treat myself...I have done all the baby steps..56 home paid off...parents never talked about money...besides giving to charity...I am taking a few dollars that I used for paying extra towards the mortgage I am spending only that but I am being frugal about it....

[@RonJohn63]

Introspection is a good thing.

[@sammierose1150]

One of the other ways to save A LOT of money (roughly $250,000) is to not have kids. (I personally don’t, nor do I want any) Just saying... 💁🏽‍♀️

[@552mustang]

I don't know why people make this out to be some huge investment. If you do it right, its not. Wife should stay home and take care of the kids, all additional costs are marginal. youre already paying the mortgage, the heat, the food for the household. Theres not a lot much more to a kid.

[@Numbers_Game]

@@552mustang You fail to take opportunity cost in the equation. A stay at home mom is not generating income because she is, well a stay at home mom. Let say she stays at home until the kids turn 7 and start going to school. That is 7 years of annual incomes from her side that doesn't exist. Even if she made 30k a year and had to give 50% away in taxes, that is still 105k in pure $$ after those 7 years. Add some compound interest in there at 7% and by the time the kid is 18 you have a difference of 474,366.22 vs 253,326.77 or a difference of 221k dollars. If the mom was making six figures, well, you can do the math on that yourself :P By all means, if you really want to have kids then go for it, but know that everything comes at a cost. At the end of the day, building wealth requires sacrifice just like everything else.

[@sammierose1150]

@@Numbers_Game Thank you - exactly 💁🏽‍♀️

[@pwners4u]

@@Numbers_Game starting school at 7? That’s double the age in UK

[@BlakeWheelersBurnerAccount]

Anything changed 3 years later?

[@mikepaulus4766]

Giving is what keeps me grounded and able to enjoy my money. I would otherwise become a money hoarder.

[@genxx2724]

Are you saying that you started by having a budget for giving, and that enabled you to use an enjoy a budget for fun? I hope you see this and respond. I am financially independent and I don’t spend money on myself. I need help.

[@marcusallen3273]

Nathan, you rock!

[@EadsB7002]

If you're single and know you someday want a family, then sure....i'd see where you maybe should consider saving for kids/college...but if you're like me, and knew you were never interested in procreating (married or not)...then have fun! Or better yet, use that $ on retiring early!!

[@tidus9942]

hes 25. Bad advice. Best time to save. he needs to max his 401k, IRA, and throw everything else in a brokerage. These are the most valuable dollars he can have. Maximize that compound interest.

[@genxx2724]

Yep. Front load investments and then coast.

[@kathryncashner3294]

I paid off the house, and then started investing what had been the house payment., while also maxing out the government allowances of IRA or 401K (depending on where I was working). Then do something like taking a nice vacation...or buy a car that you want...or whatever it is that means something to you. I was debating the idea of a rather expensive piece of equipment for my hobby and my friend pointed out that I don't drink, do drugs, or have any other expensive vices, so there was no reason to not enjoy myself with something I'd like. That comment made me look at things differently. Now, at age 69, I have met or exceeded each of my financial goals. That's not to say I didn't make mistakes, but I did enough right that it is all going to be OK.

[@DOGGYDOG1167]

Wow !!! 25 yrs old ...great job👍

[@Samuels691]

Caller has done really well!

[@Black_Jesus3005]

You are winning. Excellent work

[@exxology1]

Feels like this question gets asked a lot..

[@Irene-gq4jr]

When you are 50 there are some things you will regret not doing when you were 25. I could have used a lot more of what I'd earned more wisely but have very little debt (including my mortgage) and few regrets. It's important to enjoy life along the way and not wake up one day as an elderly person sitting on a stack of cash you are too tired and frail to get any benefit from.

[@Big-Government-Is-The-Problem]

50 maybe isnt the best number for that example. there are plenty of 50 year olds who run marathons, climb Everest, do extreme sports etc. i agree with your point though.

[@TheePrettyGirlSwag]

There are senior citizens who live fulfilling lives. But I guess I get what you’re saying about this guy in particular. Don’t let your situation cause you to not enjoy your life when you’re young.

[@Irene-gq4jr]

@@TheePrettyGirlSwag Absolutely, and yes. It's all about balance. My fiancé's parents are seniors living a full life, but his dad wishes he'd done more hiking before he developed arthritis in his hips and knees. I wish no-one has regrets about what they could have done but didn't.

[@TheePrettyGirlSwag]

@@Irene-gq4jr yes that’s the word balance.

[@ga7261]

Thank you talking about the Baby Steps helps motivates me!!!

[@dylanlyons6]

Budgeting for enjoyment items...there’s something I need to adopt...I think when you listen to Dave for so long, it can be very hard to lose the Gazelle intensity. Whelp, there’s my New Years resolution🤷🏼‍♂️

[@thecurrentmoment]

I've started putting an equal amount into investments and fun, and I know that I can enjoy it because I am building my future wealth, and I don't feel I am missing out on life by investing. Basically whatever my experience/results from each of those activities I know I have put an equal amount into it's flipside (enjoyment vs delayed gratification/wealth)

[@silentcoconut]

Losing your parents vastly changes your perspective on life especially at this age.

[@anniesshenanigans3815]

25 yrs old? wow. Wish I was set up like that when I was 25.. he needs to stay single!!

[@makethepenniescount]

😂😂😂👍

[@descendantofgiants1678]

😂😂..great advice.

[@LG123ABC]

I never understood this anti-family attitude. I LOVE being married and having children. In fact, there's an old saying that the only true wealth in this world is children and I tend to agree with that.

[@Maremare680]

@@LG123ABC "The only true wealth in this world is children" That must be true FOR you. Some of us think that it's exactly the the opposite.

[@triad6425]

Better to say he needs to worse when picking a spouse ie take financial peace university together

[@rachelgarbe3932]

They didn't answer the question of the video....grr.......someone help? Is it okay to skip baby step 5 or not??????

[@neilpateldpt]

Truly great video. This might be my favorite. Love to see guys my age doing big things

[@rrrrrfffff]

Am I missing where he *asked* if he *should* skip baby step 5? Seems like a no-brainer if you don't have kids to skip it, and he didn't sound like he was questioning that.

[@shaneshrimp6519]

Whatever you do , don't get married and mess it all up !

[@FreeAgent797]

I thought I was the only one thinking this😂😂

[@achavez78]

Hope he doesn't. He's got a bullseye on him to get taken to family court

[@brooke86]

Or get a prenup.

[@gmc9753]

Don't get involved with a woman if she has any debt at all, or if she thinks you can spend a lot of money on dates since you have no debt!

[@lj3507]

Truth!!!

[@GUTT470]

I have a positive net worth of $20,000 no debt, I own a Lexus, Harley, and scooter out right (not included in the net worth) but my girl (who I want to marry) is $28k in debt. What should I do to help her?

[@PM-xd6nv]

Dave: Wow Guy: 😶

[@wizetek]

Only one piece of advice: stay single = stay wealthy

[@ThePeterDislikeShow]

I like it but there's so much bias against singles especially if you work in any white collar field. I wish we had a Single Lives Matter rally.

[@ThePeterDislikeShow]

Not that it's a big con relative to all the pros don't forget you're one job loss from 100% income loss when you're single.

[@blackworldtraveler3711]

@@ThePeterDislikeShow That’s no problem. There was a time when I was living in my van and taking sink baths in gas stations doing fine while working and going to school, I had savings,investments,and emergency fund so no issues. Then a $160k/yr career. Was better off than a single mother with kids.on government check.

[@blackworldtraveler3711]

@@ThePeterDislikeShow They couldn’t be bias against me. Too many guys hammered and preoccupied by child support snd divorce. And I never bothered with the women unless work related anyway.

[@kpeggs82]

@@ThePeterDislikeShow um diversify? I have a full time job and two businesses. But to each his own. I wouldn't get married for the extra paycheck. Also the comments on child support if it’s cheaper to raise the kid then you would be, how not wanting to raise a kids erases responsibility is not a thing. Most couples have money issue because they just aren’t in the same page a single person with the right plan and mindset can go far. I actually am better now with money and became a millionaire after I had kids because I paid more attention. Just my story.

[@brandonellingson1953]

I'm 23 make 80k year also on baby step 6. Owe 77k on the mortgage. Glad to see I'm not the only younger person with this issue.

[@jackroberts9755]

Congrats on the new book Rachel! Hope it goes wonderfully! :)

[@W1LDWESLEY]

I've tried skipping baby steps only to be nudged back into them.

[@Bob-tk2ci]

What happens when Dave presses the button? Does it mute the caller

[@drunclecookie216]

I got a vasectomy in my mid 20's without ever having kids. Now I'm 43 and it was the best decision I ever made. My total debt is $18,800 including my mortgage. I also have a little over 3 months of expenses saved up. My plan is to have it all paid off by the end of 2022.

[@laurenbruns4654]

Wow I feel sorry for you. Good thing your own dad didn’t do what you did. He was brave. You are a coward.

[@TeKnoVKNG23]

Disagree...stay intense, you can retire in your 40s with this kind of ambition. Also that EF can be gone with one medical emergency, especially if family isn't around to help out anymore. Done an awesome job so far, no need to take the foot off the gas yet, especially when you're young and have the energy. I would do some enjoyable stuff though here and there. Go on a nice trip or buy the car like Dave suggests, but there's no reason to lose the intensity.

[@YonHill]

Baby step is every body Overcome paycheck to paycheck Self control spending Save 1,000 Payoff debt Save 6/ 12 months expenses I'm single 7 years ago I'll be single 7 years coming

[@ahmadkarim1144]

my dad brings in 38k a year, he used to make 120k+ but broke his back, he applied for disability but he got nothing. my plan is to buy him a house and car as soon as i am out of med school. poor guy kept his foot on the gas until it destroyed him.

[@siic]

Hope you do well. Don't give up

[@RonJohn63]

"Broke his back" is meaningless. (I broke my back, but "just" walked around in a brace for a few months.)

[@wnicorn6702]

I skipped baby step 5 also. I'm on step 7 minus the give part.

[@MsJoyce31202]

Good job, young man.

[@Wjoethomas]

Thanks for the advice Dave!!!!

[@Thedonron12]

Whatever you do...DON'T get married. Enjoy life till you find a suitable life long partner.

[@EadsB7002]

you can never be too careful! especially in this day and age!!!

[@lvluptoaverage52]

A great video. He will do well in life