How Much Cash Should I Keep In The Bank?

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[@cloudyblaze7916]

Thank you very much for this very informative video. Keeping money in the bank really opens you up to inflation. I have about 180k that I want to invest in the stock market, but I want to be strategic with it and I don't know how to start. Any suggestions please?

[@albacus2400BC]

Inflation is really a silent eater of the value of your money. Good thing the stock market can help you beat it. But it's wise to actually learn how to invest, or to make it easier and more effective, you could work with a financial advisor.

[@ericmendels]

I agree. There's a lot of potential in the market. My friend introduced me to a financial advisor in 2021, and even though I was skeptical, I went on. I finally was making enough monthly dividend to quit my soulless job and pursue my dream to start a restaurant in New Jersey.

[@gregorywhem]

That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with, please?

[@ericmendels]

*Sharon Lynne Hart* is the licensed advisor I use. Just research the name. You’ll find necessary details to work with to set up an appointment.

[@mohican-jx6fx]

Thank you for the recommendation. I'll send her an email and I hope I'm able to establish connection with her.

[@Theresaa12]

I've kept much of my savings in cash for safety, but I'm unsure if it's right for retirement. Contemplating investing $400K in stocks, as I've heard investors can profit in tough times. Unsure about my next move.

[@BenTodd-fl8nv]

it's wise to redistribute your capital to mitigate risks during market fluctuations. Consulting a financial advisor can help simplify this process.

[@judynewsom1902]

Yeah, I’m also closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who have been investing for many years.

[@benitabussell5053]

This caught my interest. I worry that I have a couple more months before retirement, and I want to switch to using a financial advisor, but I don’t really know how to find one.

[@judynewsom1902]

*Sharon Lynne Hart* is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@Armstrong741]

I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.

[@robertestrada434]

Why tell a person to sell their bitcoin when it’s not doing well? Sell it when it’s high.

[@storm1364]

Well hopefully he kept it

[@mariorodriguez3462]

Yeah, his Bitcoin remark didn’t age well………

[@painfuldrp9954]

What should he sell the BTC for? Something less appreciating?

[@tsaunders9340]

He was wrong to say that when he doesn't understand the market. Bitcoin has been on up trend since November 2023 and will go higher after Halving sometime this year.

[@volodymyr8928]

Yeah, I am not a fan of the bitcoin but that remark from a guy is very incompetent...

[@lennoxmutterick6434]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

[@Lourd-Bab]

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

[@lennoxmutterick6434]

@@Lourd-Bab However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments

[@Lourd-Bab]

@@lennoxmutterick6434 Oh please I’d love that. Thanks!

[@lennoxmutterick6434]

@@Lourd-Bab Judith Ann peace is her name

[@lennoxmutterick6434]

Lookup with her name on the webpage.

[@ericcaleguer]

Sell all the BTC cause it’s not performing well anyway- that didn’t age well 😂

[@anthonywebster8638]

Right? They really are clueless when it comes to investing.

[@ds132100]

Darn I hope he did not listen to Rachel kind of not so smart lol oops😮

[@aaronproctor1736]

BTC isn't a way to wealth. Instead cash it out and put it into a Roth IRA. $15,000 initially invested and putting $500/ Monthly @ 8% CI. That would be close to $2.5M at age 65.

[@anthonywebster8638]

@@aaronproctor1736 🤣

[@TheCarpentersApprentice]

@@aaronproctor1736that’s old school. There’s new ways to wealth. Look up the yearly returns on BTC.

[@26Bluegb]

He keeps saying "in his checking". You can get instant access, with no penalty, in a Money Market Account or High Yield Savings Account.

[@geraldt331]

I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.

[@Jadechurch-ql3do]

the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.

[@yeslahykcim]

Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.

[@lucaswilliams9992]

Mind if I ask you to recommend this particular coach you using their service?

[@yeslahykcim]

Laila artine kassardjian' is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment

[@brianwhitehawker1756]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@MrLopez746]

Put the emergency fund in a high yield savings account.

[@David-wo9un]

Love Rachel; she just seems more relatable than other Ramsey personalities.

[@microfarming8583]

I agree. I used to like the black guy the most though. Where is he now?

[@kathyarnold7290]

I agree!

[@corydontae6492]

@@microfarming8583 Anthony? He branched off and has his own channel now Anthony O’neal.

[@johnwilliamsoniii3936]

Rachel and Dr. John are the only ones that I can stand at this point.

[@Tameker6]

@@microfarming8583 are you talking about Anthony or Chris?

[@LiquidRetro]

Ramsey never mentions a HYSA and they should. It's a lot better place to put your emergency fund, zero risk as long as it's under $250k.

[@tranquil5892]

Emergency fund in a high yield savings account.

[@rnt45t1]

This guy has zero problems. God, I wish I could have been debt free making $100k at 23...

[@AutotuneSucksBalls]

You won’t believe it but making that much money in your early 20s could be detrimental to your future. People at that age do a lot of stupid stuff such as gamble, have multiple girlfriends, buy stupidly expensive cars just to show off and so on. The best time to have money is after you marry , have a house and a child and it won’t hurt at all if you are a Christian too

[@joeltroughton3021]

@@AutotuneSucksBalls bro the best time to have money is young if you approach life life this.

[@chocolateangel8743]

@@AutotuneSucksBalls That's what stupid people do. Smart people have a diff. mindset. Plus, there is more info. available now than ever.

[@shelleestewart584]

Exactly

[@tommyanomaly6193]

@@chocolateangel8743 Most people are stupid. He's right, most 20 something year old's with a lot of money go nuts. I probably would have too.

[@jenniturtleburger3708]

There are high yield savings account that offer 5% and you can pull it out any time.

[@mbank3832]

like which one ?

[@jenniturtleburger3708]

@@mbank3832 There are multiple. Google Hugh yield interest savings accounts.

[@kzfingerprint]

IDK the specifics, but recently banks started doing this again - it used to be better back in the day. But I think capital one is ~4% because that's the one I recently opened using a promo code to earn $x if you transfer $x within x days. But it's not just capital one, I just already had a checking account with them.

[@davidsmith5868]

@@mbank3832 Wealthfront. They are great. They tell you in the beginning of the month what your expected earner interest is, and at the end of the month, they add the interest and tell you how much you actually earned. No penalties for taking money out and no required minimums or maximums to get the 5%.

[@BloodiedYetUnbowed]

My PNC HYSA pays 4.65%

[@MistaRunIt]

Working and living with parents is great

[@stevelopez372]

That’s right it’s a jungle out there! Why kids are staying home much longer than ever before. Lol.

[@jonathanarras1281]

Didn’t have to pay for college? See how not paying for college puts you in a great position in life

[@d_all_in]

If you think paying taxes your entire life for "free" college is cheaper than paying for college yourself, you're delusional

[@patrickm8010]

SOMEONE has to pay for it.

[@elmateo77]

He also got a degree that allowed him to earn $100k+ right out of school. Why should the taxpayers have to bail you out of your english lit major?

[@waterheaterservices]

My hard working neighbors owe me a glorious revolutionary free education for Correct Thinking and Speech.

[@dericanslum1696]

...without offering a solution or how it was acheived in the first place...the point being...?...

[@achavez78]

Also, one more thing: DON'T GET MARRIED

[@ericcastle7296]

VERY TRUE

[@stevelopez372]

True, and don’t have kids out of wedlock. Lol.

[@kevinl4604]

@@stevelopez372 Why?

[@royrosete7085]

This is a high value man. 23 yo and already concerned about his financials. About the liquids, just add more to it until you have 3X to 6X your monthly expenses.

[@rtothec1234]

I just keep enough to avoid the bank and CC fees. Like 5 grand.

[@joeydziedzic7466]

Ever since the first time I heard it, it made so much more sense. The emergency fund is insurance, and insurance costs you money. Love that!

[@derekjelinski5651]

Stablecoins and hard metal

[@DavidRamseyIII]

@@derekjelinski5651 don’t have children

[@jx6564]

@@derekjelinski5651 you mean like UST (Terra)? LOL

[@JakeInvest]

@@jx6564 Its insane how many ppl had all their wealth in Terra, when you should only put enough you can afford to lose. I suppose some felt they could afford to lose everything

[@situated4]

That's what I've already said. Thx.

[@jvyeknom]

He should just keep his investments and start banking his money now for his emergency fund.

[@mrhawkeye293]

I have 250k in a 4.5% interest savings account. I know its way too much cash but I love the feeling of security and I get 1k a month in interest for doing nothing. If I knew what i was doing im sure I could turn it into much more but I am VERY risk averse.

[@RichV20]

That 250k in October of last year could be 325k today in the stock market. But you enjoy that 1k a month with 9% inflation.

[@pgplays458]

@@RichV20 no need to be sour

[@KNMK259]

This guy is a Starboy. Thanks for the inspiration.

[@wanefelicia8779]

Thank God every day u make good money like that. u are blessed

[@annbullen6983]

thank you for these videos ... there a big help

[@gr8ride411]

What a lucky 23 yr old! He’s killing it! Someone raised a smart young man.👍🏽

[@toctreb]

Lucky being the key word. Lucky he had free college.

[@APICSKH]

@@toctrebWell in that case kudos to the parent again. I don’t see any problem in either case ✌️

[@Wolfstalker21]

Not the school system lol!

[@Harp_and_Guitar_Moving_Forward]

Sounds like ya know, a super genius

[@SteveJim-pg3fv]

I'm a father of two who bought a house last year. For me, it was a major turning point! In addition to feeling the effects of the economic downturn, I'm lucky enough to enjoy a respectable monthly income from wise investments that I've made. I have therefore meticulously prepared for my retirement following my children's graduation from college.

[@ReyreJune]

Wow, interesting indeed! Currently I'm in need of investment ideas or tips. Earlier this year I hesitated and failed to take any action until now. However, I'm determined to try something new as I am very open to various investment ideas . I want to be retired in my forties or fifties. I really wish I can achieve what you have achieved and I believe it will happen

[@SteveJim-pg3fv]

It's essential to comprehend the complexities of investing. Having a trustworthy support system, such as a financial adviser, who can advise you is crucial, especially when choosing assets.

[@ReyreJune]

Thanks for the advice but it's hard to get a trustworthy financial advisor here..can you recommend one?

[@SteveJim-pg3fv]

Generally, investing requires higher knowledge. For this reason, it's important to have a solid support structure to guide you through especially in asset picking. I operate with (Alex martin tarlor) an investment specialist who partners with a licensed wealth management firm. For the record, his experience has been the best for my finance

[@ReyreJune]

Thanks for talking about your financial consultant. I will definitely look him up and get in touch with him

[@barbarabinstock272]

Imagine cashing out of bitcoin at $16k one year ago and watching this back today

[@NoRegertsHere]

🤷🏿‍♂️ he didn’t have an emergency fund

[@MrsAyub-gf5wy]

😮100k in 1yr from now.

[@Alec_Hiers]

Rachel's great with knowledgeable advice.

[@zenphoenix5911]

I hope he didn't sell his BITCOIN. It's up over 140% from when they gave this advice.

[@GK-bh1tp]

Make sure your emergency fund is not in a regular checking account...... An online savings account (ally, amex, ect) is currently giving 1.75% returns!

[@George-on3zm]

At 23 this is Amazing!! I wish I was at this point at 23. Wow. Great job kid!!

[@amgooder]

His parents are rich...he was spoiled the rest are the norm😂

[@nebulousJames12345]

I come from the future. Don’t sell your bitcoin

[@SanneHoekstra]

One of the best advice I heard is: if you have money and you don’t want to lose it, diversify. If you want to earn money, get very knowledgeable in one specific subject and invest most of your money/time/effort in it. This also applies to Bitcoin in my view. If you only invest in it because you see the price going up, you’re probably late and sell it for a loss when price goes down. If you don’t know what you;re doing stay clear. If you have a plan, stick to it 🎉

[@terriesmith2616]

For me, $3K in a checking account won't even pay my bills past a month. Even if his monthly expenses is less than mine, $3K is still too little liquid to have. I wouldn't put myself in a position where if an emergency comes up, I'd be forced to sell my investment especially when said investment is at a low, so it would be selling it at a loss. That's a terrible position to put myself in, which I'd never do. A safe liquid amount for a low expense person would be around $30K, but that's just my opinion.

[@garchah1]

10k is pretty good.

[@oglocbaby520]

30k is a lot of money to have just basically sitting there doing absolutely nothing. For a single person that isn't elderly or sickly I can't even imagine what type of emergency would pop up where you'd need anywhere near that amount. If you were to lose your job you could easily find some sort of replacement gig, there is a massive worker shortage right now. I personally have about 8-9 months of my expenses in cash and I really don't feel I need more than that.

[@oglocbaby520]

@@garchah1 10k is enough to cover for things like home or major car repairs. If you were to lose your job it's a decent sized cushion you can fall back on. Again, it all comes down to your individual circumstances, a single individual with no kids and little to no debt should be fine with something like that.

[@kuryanthomas1438]

sounds like for his basic living expenses he lives paycheck to paycheck and being very aggressive with investing, everything else he invests.

[@WideAwakeHuman]

it's so variable person to person you really can't judge what is a good amount for someone else in a different city... I've got over a year's worth of expenses in cash and I like the security - and yes I've got other investments so I'll be fine in the tiny chance that the dollar goes into hyperinflation. I think people get too focused on the "don't have anything but the bare minimum in cash" cuz you're losing money thing

[@ScienceMinisterZero]

Horrible advice on the Bitcoin.

[@JP-kl4zk]

These people clearly haven't done any reading to understand bitcoin. It's okay if you are not interested or lazy but don't make any recommendations regarding an asset if you don't know anything about it.

[@alansach8437]

Bit coin exists only as electronic bits on a computer. Warren Buffett says never to invest in anything you can't fill up a stadium with! If I buy Apple Stock I can fill a stadium with computers, if I buy Exxon Stock I can fill it with gasoline. These companies produce tangible goods. Bit coin exists only in the imagination of the people who agree that it exists! No thank you! I don't care what you say it's worth. I don't care how much money some people have made. It isn't tangible.

[@brianpeterson7028]

1:59 "sharp guy" 😂 he probably is, but "lucky guy" would make much more sense. He even said himself that he was lucky enough to not have to pay for college

[@PaulMDiaz]

Why not build your emergency fund in a high interest savings account (ex:Ally)? May not be the greatest investment but sure beats a checking account rate.

[@KianaShalix]

Very well said on the emergency fund not making money its insurance and you usually pay for insurance right =) so think of it as an investment to skip the interest payments on that emergency cost. If you have to spend 10k on 6-9% interest making min payments you pay more in interest then you would losing 2-3% on that 10k invested because life happens and it happens more often then you think =).

[@sjchan3199]

Love rachel and george. This caller has hes head screwed on straight. Well done, your doing a brill job.

[@slhines7]

Greenspan: "We can guarantee cash, but we cannot guarantee purchasing power"

[@annbullen6983]

love this channel

[@saints9577]

It takes 1.5 business days to transfer money from my money market (5.26%) to my checking account.

[@tho464]

Note: if you need liquid cash in bulk, the bank may make you order it which could take a couple days. Banks don’t like to give out $10K all at once. Have some cash in a safe too.

[@DeWoodyard]

Mr. Cruze is ONE LUCKY MAN!!!

[@monicalifornia_]

I appreciate this question.

[@amerlin388]

Definitely needs a bit of a safety net, but if his expenses are minimal (living with parents?) I think he should work towards maxing out his Roth 401k (company match going into Trad. 401k).

[@markvb5592]

Dave Rachel and Ken are the best.

[@kathy.7475]

He sounds like my grandson. He is 23 and had $20,000 in his savings before he graduated from high school. He worked odd jobs. He bought a house last year. Now he has his own construction company.

[@rancorslayer5228]

Wow that’s impressive! I’m sure you’re very proud of him.

[@shaylaahava6413]

They both did a great job answering this!

[@richardtilford4229]

These Ramsey proteges have been way off on BTC. Watching this a year later. this guy would have 3x his money. That is the problem with know-it-all investor gurus.

[@dans685]

Just because it went up doesn’t make their advice wrong. It’s a highly speculative place to have your money and could lose most of its value at a moments notice . He was talking about having an amount set aside for an emergency.

[@basschaser9356]

A lot of these callers call just to brag and they already answered their own question . Have someone more realistic making 40-50k with normal expenses bills

[@teamvoldemort6114]

90% of these calls are train wrecks. Not hard to find. Nice to see a good example for once where someone is doing the right things and is winning.

[@ld4974]

Cash in the bank is looking pretty good about right now.

[@mikestevens2053]

One problem with "math-based" thinking, where you keep very little in cash in favor of higher-return investments is this: the very circumstances which create an urgent need for cash are often the same circumstances which cause the market to temporarily tank. Then, you need to fire sell your investments to raise cash. I'd go with Dave's advice on this one, maybe using an online bank to get a little better return on that cash.

[@keco185]

The real answer is that emergencies are more common when the market is bad. You don’t want to be forced to pull from your investments at the worst possible time

[@mikestevens2053]

Bingo, you nailed it!

[@alansach8437]

Seems that way, doesn't it? If the roof is going to blow off at the same time the car takes a crap, you can bet the market is in the toilet!

[@rebeccaoprea9917]

He seems and sounds more mature than others his age .

[@randallblank9531]

Likely because its a staged call?

[@alia1824]

It’s clearly fake

[@trentonpearson7353]

@@alia1824 It's not a staged call because I have been a caller on the show

[@Nawalta]

Yeah that was my thought too. Either he’s lying about his age or he grew a little too quick. Being responsible is great, but I hope he allows himself to enjoy his 20’s too.

[@cristiandiaz8497]

High Yield Savings account, Marcus is great right now

[@apurvavpatil]

Few HYSA gives like 5% interest; Citbank, everbank, jenius bank, amex savings

[@BloodiedYetUnbowed]

For me I won’t hold anything close to 6 months of expenses in USD. The core of my emergency savings is around 10k, which I’ll hold in a HYSA and the rest of my emergency savings is held in gold, which is liquid and not subject to the downsides of a fiat currency like USD

[@grandmastergyorogyoro532]

Hey Bo, welcome to the show! It rhymes well.

[@jondoe5305]

I would like to have a paid off house , live off dividends from S & P 500 and have an Emergency fund.

[@somerandomgamer1260]

is there any reason to have a "boring old savings account making 1%"? Considering how many high yield savings accounts there are these days. My emergency fund is in a 4.9% savings account.

[@Holdeenio]

I love it when they bust out the old school air control headsets

[@chadpurser]

I would say put it in a high interest savings account (currently ~4.5%). It is still easy to get to.

[@longbeardmcstruttin5876]

Who is offering that

[@vonzaag4555]

@@longbeardmcstruttin5876sofi

[@SamEichel]

@@longbeardmcstruttin5876ally, so-fi, many other banks

[@maccam26]

@@longbeardmcstruttin5876many .. synchrony bank, PayPal savings, Truliant, etc…

[@pdx7776]

Ally has 4.35%

[@freedomworks3976]

Half a years wages in savings is what I like 👍 👌

[@daveclow4920]

He could put the cash in a checking account at a credit union and make 3% to 4% annually

[@curlrain]

Half of my emergency fund is in a short term bond ETF or short term bonds the rest is cash. ETFs are very liquid and their current rate is more than 5%.

[@tylermorrison509]

Cash is the second best performing asset this year (including the high inflation).

[@jimroscovius]

1%? My emergency fund, sitting in a bank, makes 3%. And it's available instantly - I even have a debit card for it.

[@cnewton6527]

This video is from a year ago. 3% is good at a brick and mortar bank. Fidelity account is almost 5% today.

[@bagofchips55]

I've never had to ask myself how much is to much

[@jackieferrarimusic]

Definitely a good question.

[@kortyEdna825]

The current market/economy is unnecessarily tougher for boomers/senior citizens, I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I’m really worried about survival after retirement.

[@user-yb5bg8im5g]

at 66, i laugh about ''the market''. cashed out when biden got in. we are too far gone and joe has made it worse. no family left to worry about. ''i am my own legacy''. instead of income streams, i have an income pond. cd ladders are a beautiful thing. i sleep like a baby not worrying about the ''roller coaster''. i'm headed to off grid cabin on land to really lower my expenses.

[@matthewmchenry9331]

If i called in at 23, in 2008: "im making $400 a month on unemployment, hoping to get into the burger flipping industry once all the PhD's stop applying, calling to ask if i should take out another credit card pay the minimums on my existing credit cards for the next few months or just bury my head in the sand?"

[@vincentmaloney5835]

I like online savings accounts. For example, Synchrony Bank High Yield Savings Account, 4.75% APY, no minimum balance. It is much better than regular savings account.

[@jaedyn06]

I put all my money that I’m not investing or using in my HYS Synchrony account.

[@vincentmaloney5835]

@@jaedyn06 Me too. I like this account a lot.

[@MENSA.lady2]

As Little as possible. Enough to pay your normal monthly outgoings, like a mortgage. and food. Put all you can afford into bullion. In an emergency you can cash in a Golden Eagle or two. If your bank goes belly up you can't lose much.

[@jgg204]

Answer: as much money as you can right now. you should be stockpiling cash going into a recession, cutting back on expenses and spending overall, gazelle intense savings, and hunkering down. We are in for a big storm. The more cash the better

[@alansach8437]

This comment didn't age well! No recession! Stock Market at all time highs!

[@jgg204]

@@alansach8437 You don;t hop off the train as it's crashing

[@bayrenevilla]

Bitcoin up 150% since this video, great advice you gave gim

[@BankruptRecords]

lol saw that as well.

[@KingCzar29]

Bitcoin is extremely speculative. They gave solid advice for the time. Everyone at the time was convinced its was going to zero. Now every is convinced its going over 100k after the halving. There’s no real consistency

[@BankruptRecords]

Na people that dont invest in that class of asset thought it was going to zero. @@KingCzar29

[@potatoeslol1216]

@@KingCzar29I don’t know a single soul who thought Bitcoin was going to zero.

[@KingCzar29]

@@potatoeslol1216 good for you champ. With all your wisdom you probably went all in and are now set for life 👍

[@TerryCollinsP31Lifestyle]

Great Question

[@GardenNJ]

Hopefully this gentleman did not take their poor advise, Bitcoin doubled since then, emergency fund also should be in money market account as it will gain some interest. (if needed it can always be taking out without interest, but if you wont have emergency at least you wont loose potential interest for the period)

[@ThaBloodWitch]

I've always wanted to hear them address the concept of a checking account buffer, even when you're on bs 2. I thought that's what this video was, without the investment part.

[@HandleToWatch]

The buffer recently came up for us in conversation. We are on BS3B. Our FFEF lives in our savings out but we have about 1K (half a month's expenses) in the checking account as a buffer. When emergencies pop up we usually pay off from the buffer instead of pulling from the savings account.

[@ThaBloodWitch]

@@HandleToWatch Makes sense! I just have wondered if you're following his plan and every red cent outside the starter e fund goes to debt, how much margin do folks allow themselves in checking in case a bill goes higher than they expected? Overdraft fees are awful. It's always seemed to me they preyed on the poor that way.

[@Stocklove]

Nice video!

[@Livelaugh44]

Finally a comment as to the fact that “life is important too” lol

[@zombl337og]

for his income id say $20-$25k in the bank to feel comfortable if ANYTHING happens.

[@pey7777]

Savings should be based on expenses, not based on income. I make well over $250k/yr and only have $10k in emergency fund

[@vic2796]

As long as you can cover your expenses for 3-6 months that’s all that matters

[@karnez05]

This dude already had money, he didn’t even pay for college.

[@ncrob391]

Or maybe scholarships and grants?

[@McFlashh]

Funny how some people go to this show to ask for financial advice, bro they aren't Warren Buffett.

[@prodbywoody]

they say the guy should take his money out of BTC because its doing bad but then turn around and say the stock market is down alot and its a great opportunity😂😂

[@es2056]

He's not necessarily smart he's just not dumb with money as so many young adults are. It doesn't take a lot of brains to manage you finances well, it mostly takes discipline to save and not spend your hard earned money irrationally.

[@brandonkargol4439]

Kind of a dumb suggestion on her part to have him cash out his investments just to fill an emergency fund. He's got a strong income with no debt and a large pay raise around the corner. He can easily continue to invest and bolster up his cash savings simultaneously.

[@marcello.menjivar]

I feel like she just hates the idea of cryptocurrencies 🤷‍♂️

[@neilsmith9066]

Not dumb now.....

[@acruzro95]

​@@neilsmith9066still dumb. Why pay taxes by selling stock when you can just pause investing for 3 months and have the savings up

[@michaelj6587]

Good advice--thanks! PLEASE work with your audio tech on plosives--the issue is either the mic itself or the mic placement. Very annoying. But thank you again for the advice!

[@luisalvarez9250]

Even the emergency fund it’s not safe at the hands of banks!

[@yohanniskassahun]

i have 250000$ in my saving account but idon't know what to do .i was gonna buy a house but the price is too expensive?

[@user-hv1sk2zx6u]

Buy a land back home with that money. $25000 won’t get you a house here.

[@MartinFire13]

​@@user-hv1sk2zx6uhe said he has 250k not 25k

[@thomasg1729]

What has worked for me is 50% cash and 50% in stocks. The cash will underperform but the stocks will will make up for that and you will have a nice average.

[@PercyTP5161]

"Cash out the BTC, it's not doing that well"....this aged well 😅

[@LookAtLilDude]

4:43 yup he is soooo right

[@eriq54321]

Don't buy a house to live in now, buy rental properties first until you find a wife

[@norsco28]

Best thing he did was buy bitcoin!

[@blessings4life]

Ramey loves finance so much he gave his Daughter.

[@linda7345n]

Loved the advice; and well done to the young guy for doing so well so early in life!

[@christianrodriguez5346]

I just got recommended this vid. I also have a similar salary after graduation. No debt either. My parents are letting me stay at home so I can save and invest. I don't have crypto that is the only thing that the guy and myself are different in. Single as well. So I will just focus on work and treat myself with moderation. Definitely would be saving for a house while doing investing and treating myself and my parents.

[@silvermoneyphoenix1624]

Everyone I hear them say mutual funds 🤢

[@TidewaterC]

23 and he is making 78k and getting a raise to 95k soon ? I don't believe a word of it.

[@user-ci7iy3ge1t]

I withdrew all my money and purchased gold and a home in baja😊

[@frozenburrito9313]

A few thousands of cash depreciate like 100 dollars a year, which is totally fine for the peace of mind it gives you

[@arigutman]

If you’re sitting with cash in the bank while inflation is at these high highs, go find the closest trash bin and just drop a match after you put all your money inside of it.. banks are one of the fastest ways to destroy wealth. This is not to say someone shouldn’t have emergency funds in there, but if someone is saving every nickel and dime say for retirement in a bank account which far too many are… 🤦🏻‍♂️ good luck!

[@sweetcaroline7107]

Then what should we do?

[@teev7]

@@sweetcaroline7107 That's my question also.

[@Jayyy64]

What should do then master clown

[@victorolmedo1240]

@@sweetcaroline7107 invest in etfs, max out roth ira and look into building capital like starting a business

[@np5246]

​​​@@sweetcaroline7107 You could learn about the Ramsey Baby Steps or the Money Guy Show's FOO steps.