You can't live in a 401k! She has a place to live that pays her to live there! Probably the only real estate she owns, I see it as a stable investment.
@ariefraiser1402 ай бұрын
No you can't live in a 401k. But if you do it you can retire with a $1 million 401k. She shouldn't have emptied her 401k for that triplex. There are multiple better ways she could have approached this.
@Fjjfuffnr244Ай бұрын
@@ariefraiser140 disagree. The income from a fully paid off rental netting her 30k is a massive asset. Real estate is more about cash flow than appreciation. As was noted thats the equivalent of a 750k 401k. Nothing wrong with that. If she can maintain that cash flow, she is in a better place than she thinks. It sounds like she was just down from her personal life events. Maybe redirect some of that cash and she’s good.
@daw7773Ай бұрын
Agreed, she said her real estate brings her 30,000 net which is$2500/month. At 62 her Social Security should get her additional estimate $1500-2000/month.
@Fjjfuffnr244Ай бұрын
@@daw7773 Precisely. Like you said, her SS + rental income adds up. Its likely enough to cover a majority of her living expenses. Then you add what she can earn if she invests say 100k of her cash. Heck she can even get a part time gig and invest that new income. She’s fine. I kinda side eye “experts” who say stocks or real estate is better than the other. They are essentially different tools. Its like someone claiming to be a mechanic saying a wrench is better than a screwdriver. Or a cook saying garlic is better than flour. It has no meaning until you learn more about them and what they want to do.
@daw7773Ай бұрын
@@Fjjfuffnr244 Agreed.
@archeanchaos-s4cАй бұрын
What happens when the she gets a few bad renters who wreck her house and leave. My last renter took 6 months to evict after not paying rent for a few months before. Then they wrecked my home about $12k in damage. I talked to a lawyer and he said I could sue her, but what makes me think she would pay that when she couldn't pay rent, especially after I told him she was trying to get SS since she got hurt and couldn't work.
@cameragirl242-om1qxАй бұрын
Watching this, as am considering doing, what Betty did, buying a 2 family income, in addition to my own homestead.
@malaysia19112 ай бұрын
Glad to hear that you are getting a Thumbnail designer.
@larrymelmanАй бұрын
I don't know why that is even a thing. Her priorities are out of whack.
@hogroamer260Ай бұрын
That triplex, equivalent to a $750k retirement, is also her home so, not so much. She would need another house or apartment if she was to sell it. But, if she can live on that $30k, she can always take her Sicisk Security early which would be about $1600. Then her savings and retirement are additional security.
@RPSartre01Ай бұрын
Unexpected consequences from quitting the capitalist rat race and retiring? Happiness, good health, no stress, and freedom.
@MrOsascoАй бұрын
This same woman called Ramsey with this exactly same estory. You can check it out.
@Fjjfuffnr244Ай бұрын
@@MrOsasco could be she’s wanting multiple opinions? Or both sites sharing a made up story for video content?
@AlexCharron2 ай бұрын
Way too many micro-editing cuts throughout. It's only after trying to watch another of your videos that I realised that I was sick after watching this one because my brain was picking up the hundreds of micro-edits. These edits makes the information come in way too fast and the odd cuts all add up to making me nauseated. With the understanding that people are more than capable of speeding up podcasts on their own devices, is there really a need to have all of these micro-edits? What a shame. Used to love your podcasts years back. I tried to start listening again but your editing style makes it so that I cannot watch or even listen to them.
@affordanything2 ай бұрын
Thank you for the feedback! We recently let go of our normal editor (who has been with us since we began producing video content for KZbin), and we are currently testing a variety of editors for the replacement role. The variation that you see on videos such as Michael Kitces, Meir Statman, and several recent ask Paula videos reflects paid tests that we are giving to our editorial candidates, who are applying for the position. Based on your feedback, it’s clear that the person who edited this should not be offered a full-time role. Our hiring method is to give each editor one episode, (paid as a freelancer), and see how well they perform. As a result, there is going to be variation until we fill the role. Thanks again for your feedback. You are watching the messy process of hiring in public as a small business.
@Esther-uo7fsАй бұрын
@@affordanything That's so kind that those are paid interviews. Kudos for employing that interviewing tactic!
@waterbug1135Ай бұрын
OMG people, female type people are soooo dramatic.
@stephenadamczyk-c9mАй бұрын
Most people do t know, taxes are due quartly, Medicare Part A, is at no cost, part part B costs vary from about 180 to 480 per month, plus you have to pay the portion it doesn't cover, sad but true, their retiree friends don't tell them the truth, I guess they are lonley, and need more suckered to be friends.