Pay Off The House or Save For Retirement?

Pay Off The House or Save For Retirement?
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[@fireant1272]

I paid off my house at 28! Only Bill's I have are phone, insurance, property taxes and essentials. It feels wonderful now I'm saving for retirement! If I can do it anyone can!

[@ddo920]

Dave act like income ain't taxed.

[@MR3DDev]

IKR he always behaves like people can write things off and use all their income

[@colinmclaughlin3490]

Or payroll taxes. Very disappointing lol

[@DextahPC]

I've noticed. If I were to call in, I'd just tell Dave my net income and leave it at that lol.

[@David25522]

@@MR3DDev I know right!

[@digwealth740]

I was thinking the same thing.

[@nehemiahstewart]

You should run the numbers based off take home pay.

[@tomm8025]

Dave shouldn't run numbers at all....Ramsey is pretty bad at basic math if you listen to enough of his calls.

[@blackworldtraveler3711]

@@tomm8025 Dave is a multimillionaire and many of you can’t think on your own.

[@BunkMasterFlex77]

The real solution to her problems would be a time machine. Imagine if she was disciplined 30 years ago.

[@PatMaddox]

That’s not a real solution because time machines aren’t real. If they were, I would go back in time two years and prevent you from posting something so dumb.

[@plants4thewin]

Kids should have paid for their own college. I did. I don’t agree with that step in his plan, especially if you really can’t do it.

[@wewhoareabouttodiesaluteyo9303]

The parent should AT MOST pay for half. You brought them into this world, have fun!

[@ChrisMFlorida]

@@wewhoareabouttodiesaluteyo9303 Once they are 18 they are on their own.

[@millsathn]

Taxpayers should have paid for it. At least that’s what happens in civilized countries.

[@TheMopar97]

@@millsathn you’re a troll, get out of here lol. If that’s the case, let me send you a bank acct# and routing. Feel free to deposit some of your money into mine. You should pay your fair share and I should be benefit from it

[@KMF3]

Exactly

[@israelmondragon6195]

What about taxes I cringe every time I hear their pre tax income

[@MichaelAnderson-wk1no]

Yeah gross income is just a fantasy number for the purposes of these discussions. Subtract taxes and health insurance and now we have a more realistic number to work with.

[@Jaguar7444]

Yeah that $75k is gonna turn into $60k pretty quick and he wants them to put half of that on the house and retirement.

[@bobbyb7672]

Me too. He never consider taxes...

[@kara2162]

@@Jaguar7444 more like $50..

[@Jaguar7444]

@@kara2162 I was trying to track such a low income the estimator said $16k taxes. 🤷‍♂️

[@tomm8025]

For THIS CALLER the advice to pay off the mortgage is good. Her rate is not super low and she is only five years away from retirement. Before retirement is when you want to be mortgage free. However, when Dave tells these 25 - 30 year olds with mortgage rates under 3.5% to hurry up and focus on paying off the mortgage over investing, it is HORRIBLE advice. Any younger person who listens to his advice will have shot their financial future in the foot and lost some of their biggest compounding years. If Dave was any good a real math and real finances, he'd realize this.

[@blackworldtraveler3711]

Dave is a multimillionaire. Are you?

[@tomm8025]

@@blackworldtraveler3711 - Yes. Not as rich as him. Also, not as old. But he didn't make his money from his methods, he made it selling a product to people who are generally ignorant about finances.

[@blackworldtraveler3711]

@@tomm8025 He’s been a multimillionaire since the 90s. He has gotten older like everyone else including broke people. He makes money from every source available including these profitable KZbin snippets.

[@Phoenix11720]

Certainly not horrible advice, but also not optimal

[@tomm8025]

@@Phoenix11720 - If person is younger and has a low rate mortgage the advice to focus on paying off a mortgage instead of investing is HORRIBLE!! It will cost those people SIGNIFICANT sums of future monies that they will not have as they lost decades of compounding results just to pay off a home that is worth the exact same amount regardless of when it was paid off. If you don't understand this you REALLY need to learn about compounding. DR is the get out of debt guy, not a voice to listen to in regard to actually building wealth. He doesn't even do debt the optimal way.

[@tomm8025]

I wonder why Dave never asks important questions like "How much will you be getting in SS?" She already said they are waiting till 70 to collect so she will be getting the absolute maximum. I mean, gee Ramsey, don't you think her retirement income is important to know? Or does it just not fit the point you wanted to make today?

[@tomm8025]

@Paul Barrett - Maybe he shouldn't act as if he is an expert in his advice if can't get obvious stuff?

[@JRob-nt9ck]

If he knows their salary he can get a good idea what SS would be

[@peterjna12]

My rental income will pay for my kids college. Money makes money. I worked hard for my money and then I make my money work for me.

[@markg999]

Hope paid for cause I know people that have ended up losing rental homes to unforeseen issues.

[@peterjna12]

@@markg999 I am completely deleveraged. I pay cash.

[@blackworldtraveler3711]

@@markg999 You know people with rentals the bank owns. Paid for my rentals with cash and eliminated those issues years ago.

[@markg999]

@@blackworldtraveler3711 Yes...people that thought they were smart getting multiple rentals with not much down and lost them all to the bank.

[@vickisoutdoors_]

Get a mortgage amortization schedules for the balance and time you want to pay it can be done in 3/5 years. Just have to budget money.

[@786otto]

Depends if you have a hundred thousand doll house sure can be done.

[@danmiller4960]

Dave: "Invest in a good growth stock mutual fund"

[@tmusa2002]

Please tell me where to find the 12% return he always speaks of….

[@farsight42]

@@tmusa2002 if it is a 401k then you are simply stuck with whatever mutual funds offered. Just chill and pick the best long term history. If you can’t then chill and do S&P500 (or 3000)

[@danmiller4960]

@@tmusa2002 of course the investors he endorses on his website. Where else ?

[@tmusa2002]

@@danmiller4960 do you use them and do you get 12?

[@danmiller4960]

@@tmusa2002 no I was making a mockery of the fact that he's profiting off destitute people that call into his show.

[@meli1368]

I can not thank you enough Papa Ramsey🙏

[@user-di9kk8ys9m]

𝑰𝒏𝒗𝒆𝒔𝒕 𝒊𝒏 𝒄̧𝒓𝒚𝒑𝒕𝒐𝒄𝒖𝒓𝒓𝒆𝒏𝒄𝒚 𝒘𝒊𝒕𝒉 𝒎𝒚 𝑨𝒅𝒎𝒊𝒏𝒔𝒕𝒓𝒂𝒕𝒊𝒗𝒆

[@user-di9kk8ys9m]

𝑻𝒆𝒙𝒕 𝐡𝐢𝐦 𝒐𝒏 ω𝒉𝒂𝒕𝒔𝒂𝒑𝒑 𝒕𝒐 𝒈𝒖𝒊𝒅𝒆 𝒚𝒐𝒖 𝒕𝒉𝒓𝒐𝒖𝒈𝒉...

[@user-di9kk8ys9m]

*+* *1* ( *6* *5* *0* ) *2* *3* *9* *0* *9* *4* *9*

[@InOrlando]

Is this calculator included properly taxes and HOA? Because those go up every year too!

[@blackworldtraveler3711]

It doesn't go up every year in my case.

[@nicholeknight1893]

They got this!!!

[@CJ-nk1ls]

Buy LOTZ and do both

[@Tbird761]

Man, Dave is really mad at these hypothetical people obsessed with pizza.

[@Akalhar]

To be fair, pizza is pretty great.

[@Frank020]

Tighten the screws up beans and rice. Gazelle intensity. 🌝🚀😁🌕

[@livingunashamed4869]

Yep no excuse everyone should be a millionaire by 65.

[@joyaustin6581]

Illness can bankrupt anyone

[@blackworldtraveler3711]

@@joyaustin6581 In your case you will never be a millionaire by 65.

[@sammycg]

Tight budget and deliver pizzas

[@cato451]

Get a bigger shovel and do both!

[@TreuNorthExplorers]

“Pizza breath”

[@CO8848_2]

Never a worse advice than "paying off your mortgage".

[@dagobaker]

if she listens to dave they will b fine paid for house...... E fund........ 500K retirement.... and SSecurity...... easy to retire on that

[@lionelhuts875]

If property taxes are high, that likely isn't enough. Unless all they do in retirement is watch The Price is Right for 30 years.

[@daltonbrasier5491]

Anita Richard

[@ImVeryBrad]

Im saving 15k per year. Ill be rich one day :)

[@user-di9kk8ys9m]

𝑰𝒏𝒗𝒆𝒔𝒕 𝒊𝒏 𝒄̧𝒓𝒚𝒑𝒕𝒐𝒄𝒖𝒓𝒓𝒆𝒏𝒄𝒚 𝒘𝒊𝒕𝒉 𝒎𝒚 𝑨𝒅𝒎𝒊𝒏𝒔𝒕𝒓𝒂𝒕𝒊𝒗𝒆

[@user-di9kk8ys9m]

𝑻𝒆𝒙𝒕 𝐡𝐢𝐦 𝒐𝒏 ω𝒉𝒂𝒕𝒔𝒂𝒑𝒑 𝒕𝒐 𝒈𝒖𝒊𝒅𝒆 𝒚𝒐𝒖 𝒕𝒉𝒓𝒐𝒖𝒈𝒉...

[@user-di9kk8ys9m]

*+* *1* ( *6* *5* *0* ) *2* *3* *9* *0* *9* *4* *9*

[@MR3DDev]

The moment you retire you die. Ever wonder why millionaires do not retire? Dave is a great example

[@jameswest7945]

Blm supporter Dave

[@randomkid7390]

Dave goes full blown high risk high reward no matter how close to retirement or even in retirement. It's his worst advice.

[@I_like_turtles_67]

Anita. YOU 'need-a' buy some AMC in your retirement account. - AMC APE

[@originalsixx]

🙌🚀

[@theelephant2887]

Parents! Stop paying your kids college if it means that you end up broke and can't retire with dignity

[@tazer9735]

You can take loans for school, not for retirement

[@PhotoPhreak17]

@@tazer9735 yes but loans, especially for school, are going to hinder your savings possibilities for retirement.

[@maxinvasionleet]

@@PhotoPhreak17 dealing with debt at 20 is alot easier than 65

[@PhotoPhreak17]

@@maxinvasionleet fact but learn how to handle money as early as possible and you’re setting yourself up for success at a much better rate. Don’t do debt and the money piles up. The problem is people don’t understand that until it’s too late and they have nothing to show.

[@famousamos1]

Yes I don’t understand why median average income parents pay for their kids college expenses first before saving for their own retirement?!? I don’t hear many kids that start paying their parents bills after college when they have a higher paying job.

[@Logan69420]

Paying off your house IS saving for retirement.

[@David25522]

Nailed it!

[@blackworldtraveler3711]

Retiring with a paid off home is a wonderful thing.

[@tmusa2002]

She started the call so proud of herself but I hope she ended thinking about downsizing her home by about 50 grand. Dave should have mentioned that.

[@blackworldtraveler3711]

@@tmusa2002 I wonder about the size of home she has now. Most people I know always buy more home than needed to begin with.

[@thedopplereffect00]

How does a paid off home generate retirement income in perpetuity?

[@slimdawgwoof]

Sadly it sounds likely they barely saved for retirement when they were younger. I pray for them!

[@JohnSmith-it4sv]

They live in the south. The are probably in a low tax state where 200k was a lot.

[@maxinvasionleet]

They are way ahead of most people at that age

[@kcc3985]

This is like my worst nightmare. I want to work at 65-70 bc i want to, not bc i have to.

[@David25522]

Tomorrow isn’t promised to you.

[@tmusa2002]

Somebody tell me where exactly to earn 12%!!!

[@oshares4422]

I refuse to be 65 and still working because I have to. FIRE all the way.

[@JohnSmith-it4sv]

I will "work" after age 65. But I will have money saved so I can walk around the job and tell jokes all day.

[@oshares4422]

@@JohnSmith-it4sv That's the goal!

[@strongblackliquor]

@@oshares4422 the FIRE is spreading! 🔥🔥🔥😎

[@Wealth_Wisdom_Discernment]

The fire movement is huge!

[@TheFirstRealChewy]

@@JohnSmith-it4sv I too have a similar plan. FI is the goal and we'd like to get to that ASAP. The RE part is debatable. We might work different jobs, but working isn't really the problem. Working with great people is awesome!

[@ladysparkle6784]

You are not debt free if you have a mortgage!

[@aolvaar8792]

If someone else pays the mortgage, Are you debt free?

[@ladysparkle6784]

@@aolvaar8792 I wouldn’t know I don’t have a mortgage anymore.

[@aolvaar8792]

@@ladysparkle6784 Think!, It would not be an accountable Debt.

[@markg999]

Agree 100%

[@786otto]

@@aolvaar8792 I think you are dooing 👌

[@harveyh3696]

Wish I saw this 40 years ago. Then again, I might not have listened.

[@blackworldtraveler3711]

Many laughed at me 30 years ago. I retired before 50. They have to wait past 65 to retire if ever.

[@larryhawes8295]

Easy to see she will NOT do what Dave's suggesting...

[@eckankar7756]

She is talking to one of the most profound financial advisors on the planet and she's yapping like a bird constantly not listening to a word he says.

[@KMF3]

I think she will and will find herself not where they want to be.

[@blackworldtraveler3711]

@@eckankar7756 Dave is not a qualified financial advisor. That’s why he doesn’t bring up taxes among other things.

[@TheCanineclub]

PAYING OFF THE HOUSE IS THE SAME AS SAVING FOR RETIRMENT-

[@Slimchizzle]

To enjoy a comfortable future, investing is absolutely essential for everyone

[@kathylloyd4988]

For real, crpyto is profitable...

[@jaspergrey7592]

I've been benefitting since my first investment with Mr Jeffrey Webster

[@harrychufan]

SCAMMERS

[@AnnMitt]

Why is she laughing. That's a huge clue why she's in the current mess.

[@Jaguar7444]

Sounds like she doesn't have enough to retire.

[@kartboarder22g17]

She shouldn't have paid for her kids college unless she made them sign a contract to have her kids take care of them. 200k at 65 ouch.

[@Jaguar7444]

Hopefully they have good careers and they can contribute back to her.

[@DoctorSmartyPants]

Disagree. I think they're fine.

[@kartboarder22g17]

@@DoctorSmartyPants I'm 38 with over that in my nest egg and I'll barely make it.

[@blackworldtraveler3711]

She can retire but with lifestyle limitations.

[@Whitericeinmysalad]

Paying off the house is saving for retirement plus all the money you save in interest. It’s a no brainer.

[@lionelhuts875]

Your "no brainer" misses opportunity cost of investing. Dave even knows this, which is why the baby steps are to save 15% in retirement before paying off the house early.

[@dresser6135]

One can make a pretty good argument for the idea of keeping a mortgage going (b/c the interest is so low) & investing the money elsewhere. It would be pretty easy to come out ahead doing that. However, having said that...I like the idea of a pd. off mortgage...just because.

[@stevenporter863]

The 'no brainer' does not take into account a paid off house does not mean no living costs - ONLY the mortgage goes away. Still have to pay property tax, maintenance, repairs, you still have to eat, etc. Pay from what account if no savings or investments for retirement?

[@JUSTTRYANDSTOPIT]

A guaranteed 4.75% return from the mortgage payments where you control the capital versus a hopeful 10% in a mutual fund where the capital is no longer under your control... Bird in the hand

[@JUSTTRYANDSTOPIT]

A guaranteed 4.75% return from the mortgage payments where you control the capital versus a hopeful 10% in a mutual fund where the capital is no longer under your control... Bird in the hand

[@grahamdowney5550]

“Sell the car!”

[@goofygirl1311]

One significant question is what is their house worth? Is downsizing an option for them.

[@markboettcher9443]

Very similar situation and much lower numbers. We are doing 2k a month on the mortgage.

[@Schoondogg]

Pay off the mortgage and MAX OUT retirement accounts

[@nicoleteresa5226]

I don't know who needs to hear this but stop saving all your money, invest some of it if you really want financial freedom

[@Johnpaul-j8e]

Honestly I tell this my friends everyday, it's good to save money but you gotta have that investing spirit if you really want financial freedom.

[@darylallen2485]

You have two first names.

[@colinmclaughlin3490]

I hate how Dave doesn’t factor in taxes ever when someone tells them what they make

[@cristalcruzzin1756]

He always ask for take home not gross

[@michaelc7014]

@@cristalcruzzin1756 No he doesn't

[@swolehas1794]

Well, that can be difficult depending on what state they're in and the types of deductions they can take. But it might be a good rule for him to just cut there gross income across the board by 10% to get a more generalized after-tax estimate

[@wittyusername9544]

Because taxes should be factored in their own budget. Dave doesn’t also talk about food, gas, utilities, subscriptions, insurance costs, property tax, etc. Also, in the USA taxes are not as big of a cost as you think to most of his callers. About half of the people in the USA pay net zero in federal and state. Someone of her combined income probably pays less than a few thousands.

[@blackworldtraveler3711]

That's more for a close door session not a 5-10 minute entertainment video with strangers.

[@b4ugo222]

Exactly. Nobody brings home what they make. Dave never uses real numbers when determining your actual income. Gross income is not the same as actual net income. If I brought home my gross income I wouldn't ever be with debt.

[@nehemiahstewart]

$100 invested a month for 40 years with an ROI of 10% starting at $0 is actually worth $632,405. Not $1.1 million. Just saying..

[@KRscience]

Dave said 12% for that example, not 10%.

[@yellowsnowman9157]

@@KRscience Which is a pretty unrealistic return for most people. He should calculate 8-9% because it's actually realistic

[@tmusa2002]

@@yellowsnowman9157 Exactly. I feel like Dave sets up unrealistic expectations for people by throwing out 12% all the time. Expect 7-8, HOPE for 10-12%

[@AdrianEnglish]

Me likee the pizza breath daaaave

[@sheraziqbal9556]

If she has enough equity in the house why not sell and buy a house cash today and put everything into reitrement.

[@Idiotsincarshere]

Because not many people want to live in a significantly lower lifestyle than they are used to.

[@sheraziqbal9556]

@@Idiotsincarshere better than still paying mortgage or rent in your mid sixties

[@Jen39x]

This was a question I’ve wanted to know myself. Not everyone can buy housing before 45 so this can happen And it almost never covered in books etc.

[@blackworldtraveler3711]

It’s covered in basic math.

[@Jen39x]

@@blackworldtraveler3711 I’m not an idiot and my ability with math is better than the average kid leaving college these days. I was interested if Dave’s advice would be the same regardless of age. I’m perfectly capable of listening to others advice and doing some math and making a thoughtful decision. Also a skill a lot of people probably just like you are missing. Go troll somewhere else - you aren’t needed here.

[@Frank020]

Yeah or s word happens like divorce or something like that. It also happens in big cities like in California where houses are not attainable for many.

[@ShutterSpeedGaming]

Oh, it’s definitely covered in books. Read “The color of law”

[@Mitzi73]

They should sell their house and move into a paid for house. They are using up much needed retirement funds to pay off this house which is probably too much for what they need. It’s should be all about retirement funds at this point.

[@israelmondragon6195]

@@saulgoodman2018 becuz they will move to something smaller if they go from a 300k house to a 200k house they easily made 100k and they don’t have to worry about house payments

[@moniquecastelo]

exactly, I'd just buy a condo and max out all retirement accounts

[@Soljarag5]

You do know there are tons of expenses when you sell a house? Commission, moving, closing costs... Ect..... Horrible advice

[@aolvaar8792]

A NO COST Refi 30 year @ 2.99% interest = $275/mo, and ~$6K/mo in SS @ 70 yrs old

[@israelmondragon6195]

@@saulgoodman2018 i never said that it was just an example but it must be expensive becuz they are 65 and haven’t paid it off yet

[@tmusa2002]

She started the call sounding so proud of herself…??? Yes, as Dave says their hair is on fire at that age with a mortgage still.

[@Dryloch]

if the kids have a good job because of free college they should be more than happy to help pay the house off. You sacrificed your retirement for them to have free college. Now it is time for them to sacrifice.

[@AridiumInsane]

I don"t disagree, but who knows if thier kids aren't just repeating what they saw thier parents doing. Cycles within cycles.

[@chrisstaub5880]

Kids aren't responsible for their parents' financial decisions. Parents have only themselves to blame if they go broke paying for their kids' college that they couldn't afford.

[@ChilledOut]

Would love to hear updates on your caller’s situations

[@jimroscovius]

You do both. Don't pay for kids college - make them work.

[@credible7692]

I make 125 and I take home around 85. Dave’s math is just bad. Taxes are a real thing.

[@786otto]

Get some ivestment property and deduct everything.

[@user-di9kk8ys9m]

𝑰𝒏𝒗𝒆𝒔𝒕 𝒊𝒏 𝒄̧𝒓𝒚𝒑𝒕𝒐𝒄𝒖𝒓𝒓𝒆𝒏𝒄𝒚 𝒘𝒊𝒕𝒉 𝒎𝒚 𝑨𝒅𝒎𝒊𝒏𝒔𝒕𝒓𝒂𝒕𝒊𝒗𝒆

[@user-di9kk8ys9m]

𝑻𝒆𝒙𝒕 𝐡𝐢𝐦 𝒐𝒏 ω𝒉𝒂𝒕𝒔𝒂𝒑𝒑 𝒕𝒐 𝒈𝒖𝒊𝒅𝒆 𝒚𝒐𝒖 𝒕𝒉𝒓𝒐𝒖𝒈𝒉...

[@b.cdrisk2035]

If he has a motorcycle he rarely ever rides....

[@juggernautAA12]

Huh?

[@managingmonasmoula9811]

Great advice and I’m listening and ‘doing’. I’m trying to aggressively pay off my mortgage and my goal on that is 3 years. Wish me luck! It’s taking forever and a day to pay off this darn mortgage. Sigh… 😣

[@jasonjosephlee]

This is a bit scary but a sad reality for some people. Best thing anyone can do is invest in some rentals to have cash flow as they get older. Passive income is the best income.

[@geraldsahd3413]

Work and collect social security when eligible. That will help

[@jeromeborja9624]

Make use of low interest student loans and free grants/scholarships. Work hard get good grades and get rewarded for it. People don't want to look / apply for these grants/scholarships. There's 1000s out there!

[@johniii8147]

Sounds like they are going to have to work past 70 ( or at least one of them). They really don't have much given expected lifespans these days.

[@786otto]

But seems like they head good time fuc***g every dollar that made for the past thirty years

[@Tehui1974]

I'm 49 and am at stage 6. It's probably going to take me 4 more years to pay off the mortgage. I'll pay it off earlier if I can!

[@AtomicQuotient]

Couldn't you use your 401K/RRSP monthly money to pay off your mortgage just like a salary ? Just make mortgage payments ..?

[@tmusa2002]

I wish he would have asked her if it’s a realistic idea to sell and pay cash in full for a downsized home.

[@miriamstrauss]

If you found this comment, I hope you know that you are loved and you have the potential to be wildly successful. Be the greatest version of yourself ❤️❤️❤️

[@jenniferleigh1674]

oh man, why do we justify and make excuses in order to continue living the IDEAL life that we want to live and not the financially appropriate one we know we NEED to live!

[@rodrigorodriguez509]

As a personal accountant, what I often see is people closing in on retirement I'm prepared start working more, often in a side business. Their earnings are good since they have skills and knowledge, but then they work themself into the grave in less than 5 years and the pension fund laughs all the way to the bank

[@Greenlights111]

You know you listen to a lot of Dave when you can read the clip’s title and already know Dave’s response

[@RCVideo-dh8cs]

Why does Mr. Ramsey not include social security in the retirement mix?

[@KMF3]

Because we have no idea if and when it will still be around

[@blackworldtraveler3711]

I didn't. Didn't include my pension either. It will be all gravy now.

[@DoctorSmartyPants]

When he asked their household income, that is something that should have been included in her response.

[@Boxhead42]

@@KMF3 But they are 65. It is there for them.

[@KMF3]

@@Boxhead42 I understand but I'm just thinking that maybe he doesn't include it because at some point in the future it could be gone

[@JJNJ878]

use a index fund instead, avoid the fees from a mutual fund

[@sancoffsr]

She has already pay most the interest on the loan and make sure the kids pay for their college

[@daron9229]

“Sell the house.”

[@misspapo3444]

Was the 75k her gross or net pay?

[@aware24]

Paying off your house is a necessary part of your retirement

[@wewhoareabouttodiesaluteyo9303]

Are there not any exemptions on mortgage or property taxes in some states? If so, they should keep paying it off.

[@dexterm1285]

@@wewhoareabouttodiesaluteyo9303 Never heard of such thing...not in US atleast.

[@aolvaar8792]

@@dexterm1285 ????? do a google search

[@wewhoareabouttodiesaluteyo9303]

@@aolvaar8792 Did you find any?

[@aolvaar8792]

@@wewhoareabouttodiesaluteyo9303 yes, almost every State

[@rleonekc07]

bring back the old intro

[@ButcherBird-FW190D]

I appreciate Dave's show and all. But, yassir. I have 8 years left on a 10-year mortgage at 1.875%. I'm 59 and receiving a fed pension, while working toward a second d.b. pension. And suffice it to say the SS tax drops off late summer range each year as to income from my retirement gig. I'm throwing all the pension to my Schwab "All U.S. Stock" fund; and gleefully spending the rest. Noting; this is after fully funding my 401k (as I have since the mid-80's) and noting; those house pymts are not low on a 10-yr mortgage. But, yassir. The extra $ goes to equity investments. Works for me. I just cannot see paying off a 1.875% mortgage in a big rush.

[@djpuplex]

I'm trying to talk my parents into paying off there mortgage now. They are just hard headed. If they were working I'd say keep it. But they are retired. Just hard headed.

[@altratronic]

You said: "I'm trying not talk my parents into paying off there mortgage now." What does this mean?

[@djpuplex]

@@altratronic good catch trying to talk them into paying it off

[@yasminogbu8929]

pizza breath ..🤣😂

[@DoctorSmartyPants]

How much is the house payment? What is the home worth? Two questions that should have been asked.

[@786otto]

You can buy 2-3 family house and live rent-free plus have enough deductions to not pay taxes for the next thirty years. But many people are just too big to live in the same house with tenants. so when they turn sixty cooling Dave for advice.

[@peartfaldo]

2:44. should be but not for everyone. Thanks to the....say it with me....affordable care act....its the 2nd most expensive "item" in your budget.....especially if you work. Redistribution of wealth is all that BS is.

[@Rubberglass]

Who eats $100 of pizza a month? 🤔

[@peartfaldo]

plenty... not counting cigs and starbucks. thats only about a pizza a week.

[@appleforever6664]

Payoff the house!

[@aolvaar8792]

A NO COST Refi 30 year @ 2.99% interest = $275/mo, ~$6K/mo in SS @ 70 yrs old

[@CaseyBurnsInvesting]

Boffum

[@Matt-gf4gd]

C: do both.

[@Skill_Issue92]

Would be nice to know how much the house is worth. They might be able to sell the house and downsize and be way ahead on the plan.

[@user-ml4ky6ys9j]

𝑰𝒏𝒗𝒆𝒔𝒕 𝒊𝒏 𝒄̧𝒓𝒚𝒑𝒕𝒐𝒄𝒖𝒓𝒓𝒆𝒏𝒄𝒚 𝒘𝒊𝒕𝒉 𝒎𝒚 𝑨𝒅𝒎𝒊𝒏𝒔𝒕𝒓𝒂𝒕𝒊𝒗𝒆

[@user-ml4ky6ys9j]

𝑻𝒆𝒙𝒕 𝐡𝐢𝐦 𝒐𝒏 ω𝒉𝒂𝒕𝒔𝒂𝒑𝒑 𝒕𝒐 𝒈𝒖𝒊𝒅𝒆 𝒚𝒐𝒖 𝒕𝒉𝒓𝒐𝒖𝒈𝒉...

[@user-ml4ky6ys9j]

*+* *1* ( *6* *5* *0* ) *2* *3* *9* *0* *9* *4* *9*

[@DavidEVogel]

Need more “Inflation makes your mortgage interest free” comments.

[@hellocolor101llo5]

Should i take out of roth account to pay for the mortgage

[@seemibaig6966]

How can ask questions to you, sir?

[@blacksheep6941]

Yup, it's the problem child in the mirror!

[@randomkid7390]

Pay the minimum on the house, put it all in retirement.

[@Ancano]

There's that mythical 12% mutual fund again.

[@silvermoneyphoenix1624]

He's a mutual funds pusher, higher fees for same/lower return than index funds.

[@leesmith8810]

12% are average returns over 20 years when interest rates were high. Not sure you will get those returns moving forward . Unless you choose rental property but Dave wants you to pay your mortgage off first so it makes it impossible to do that!

[@user-ml4ky6ys9j]

𝑰𝒏𝒗𝒆𝒔𝒕 𝒊𝒏 𝒄̧𝒓𝒚𝒑𝒕𝒐𝒄𝒖𝒓𝒓𝒆𝒏𝒄𝒚 𝒘𝒊𝒕𝒉 𝒎𝒚 𝑨𝒅𝒎𝒊𝒏𝒔𝒕𝒓𝒂𝒕𝒊𝒗𝒆

[@bayoustateoutdoors9650]

65 yrs old with a house note?.........

[@RyanAnthonyDigitalMedia]

15 perseant right kneeyow

[@rickforse8518]

I am saving as much as I can so I can afford to pay my taxes in retirement.

[@Frank020]

That's what sucks right?

[@jeffdorris5321]

Nice work 🎆✨🎇

[@9liveslisa]

Both

[@NA-fk7cc]

Hi Dave, is the 15% base on gross or net income?

[@tjbalistic]

Gross.