THIS Is What Keeps People Middle Class

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[@dialac1]

That “new car feeling” wears off FAST! I’m speaking from experience. No matter what car it is, even if it’s a Lamborghini, you get used to seeing it and it loses the allure you have for it today

[@Sizukun1]

You sound like someone who isn't a car guy and doesn't have a Lamborghini.

[@musicman7297]

Strange, I drive a 2012 shortbed, single cab 4x4 HEMI Ram Express and I still like driving it today as much as when I bought it. Oh , and if your car is a little Honda, we'll I'd expect you not to be thrilled on day one to drive it.

[@blackworldtraveler3711]

I rented a pearl lavender Lamborghini years ago in Honolulu at this specialty car rental place between the airport and Waikiki. A red Ferrari as well for a few hours at another date. Paid full insurance. Drove around the island and returned it. Got the car stuff all out of my system. Continued buying used with cash and point A to B from then on.

[@dialac1]

@@blackworldtraveler3711 thanks brother. The comments above me are trying to prove something. I did an M&A roll up in DC just before Covid. After I sold my roll up to a private equity, I had the CASH to buy a McLaren 720. I went to the dealership, drove it and also drove other super cars. For some reason I just lost every allure I had for those cars. Most truly wealthy people I know don’t even drive those cars. At the end of the day, it’s just a vehicle to get from point A to B

[@wjksea]

@@Sizukun1, that might be an accurate assessment. If a working class person is drawn to shiny new cars, they’ll be better off finding ways to appreciate cars without buying them and work on their values because cars are a wealth killer.

[@carlos-dt6ni]

The truth is most people only get a raise of between 2 to 2.5 % per year. So it is VERY possible that it would take five years for a $10k raise.

[@DadInFastForward]

and that raise is BELOW the rate of inflation so you'll always go backwards

[@masterchief5437]

Best to hop jobs every 2 - 3 years

[@keithbellair9508]

@@carlos-dt6ni most people now a days don’t get raises at all.

[@keithbellair9508]

@@masterchief5437 yep.. sign on bonuses

[@timfireblade]

Warren Buffet used to drive a 10 year old Cadillac, he’s worth over $100 Billion.

[@Nick-jg9ck]

Warren Buffett had rich father that was a congressman that’s how he got rich.

[@irietropicals4255]

I own 03 Honda accord. Make over $100k, who cares, take control of your finances. Build that comfort loot baby💰

[@keithbellair9508]

Good luck taking it to hell with you

[@Golflegend410]

That’s the way to do it! Well done

[@keithbellair9508]

Why so wall street crooks can steal it from you?

[@johnh3819]

750k nw I drive an 03 camy. It's bulletproof

[@keithbellair9508]

Good luck taking your dirty money to hell with you

[@Runtherace247]

Yes, some people do make $10000 in raises or more over 5 years. But this is just simply not the case for the vast majority of people.

[@ivanvargas2425]

Unless they get a new job/career they most definitely ain’t getting a $10k raise. If that was the case people wouldn’t be living the way the are

[@keithbellair9508]

Raises have become a thing of the past… ducking capitalist pig america , its all about thier fucking stock dividends and fuck the worker

[@15KHPCLUB]

Dave like most CEOs hasn’t given anyone but himself a raise so he needs to shut his big fat mouth.

[@keithbellair9508]

Only people who get raises anymore is the government assholes.

[@BlatentlyFakeName]

Even for someone on 100k it's a big rise, 10%. These two aren't living in the real world.

[@cn4492]

My husband hasn’t had a single raise in 6 years. He’s middle management. Lots of folks are in the same boat that we know. We share a car that’s paid for

[@Hdhfhhdh]

Your husband needs to find a new job. With the inflation these few years, your husband salary has gone down

[@JBrown-go8ru]

@@Hdhfhhdh Exactly! Her husband has taken "a pay cut" over the years.

[@TopFlightSecurity415]

he needs to switch companies, i didnt start making real money until i switch , im thinkin about swithing

[@drlax15m]

that’s an effective pay cut after inflation

[@jimt6151]

I'm a debt-free, 21-year Navy retiree. This guy sounds like he's in it for the long-haul career, too. In my 21 years, I can't tell you how many "awesome cool toys with engines and wheels" I've seen fossilizing on base storage lots while their owners were on DEPLOYMENTS. And if there's one thing that toys with engines and wheels do not like, it's SITTING.

[@drippyeddy5130]

Yeah it’s better to have your fun with cars when you leave the military

[@samryan7954]

Each to his own....

[@liudizzle]

Cars keep us poor but I love cars too.. paid $45k for my IS350 and 8 years later it’s probably still worth about $30k and still as much fun to drive as the day I got it, zero regrets!

[@BirdDogey1]

Depreciation isn't the issue if you hang on to the car. My opinion anyway. Professionals can't be calling in that their car won't start. Being comfortable in traffic helps keep you sane.

[@willleslie2745]

Sorry brother your is350 is absolutely not still worth $30k that is lunacy, more like $15,000 actual sale price

[@aruns6808]

Haha 30 k ,.. max 16K bro

[@fullbattlerattle2493]

Most jobs will not give you a 10k raise in 5 years unless you move up in management. Raises are usually a couple dollars extra pay here and there until you cap out

[@IrisP989]

It depends what field you are in, what company you are working for, the company's performance, etc. It is possible to get a $6K raise after a year..

[@M22Research]

You might not be working for the right company if it is rare to get $10K of raises over five years. Many skillsets/experience-sets are in high demand and short supply. In contemporary corporate America, sadly, the path to raises is to jump companies every 18-36 months.

[@ulikemykungfu3995]

$10k≈$4.9perhour. $1 raise every year for 5 years so it’s possible. My job at a Hexcel factory we get raises when we get skills. We need 2 skills a year and it’s ¢75 a skill. So $1.50 a year and we get a Cost of living increase usually about 3-5%.

[@allannirvana]

I think you are talking about wage slavery

[@djlowtek]

It happens all the time

[@LayLow83]

Dave is right. I’m 68 still working self employed. Nobody would pick me out at a Stop Light as a Debt Free Multi Millionaire driving my 2015 Buick. But I bet I could Buy & Sell the guy next to me in the BMW. At a large gathering of people I just blend in. I don’t draw any attention to myself because I don’t wear my wealth. Like said I blend in. My banker doesn’t even know. It’s not all in one institution.

[@TwoPyramid]

Nice.

[@Kujokouklos]

Excellent my friend! I am 54, driving a 1998 Corolla and I even see people in the stop lights laughing at me! But in the end, I am the one getting up at 11:00am playing videogames and having a blast with life leaving the rats racing. Congrats again.

[@elpacho....9254]

So you’re saying you blend in?

[@elpacho....9254]

@@Kujokouklosso you blend in too?

[@yuckyool]

@@elpacho....9254 He blends in so well, he uses an off-brand, second-hand blender for his smoothies.

[@Joey_DiGs]

Same situation man, 30 years old with 0 debt and 150k net worth. I absolutely adore cars and have been watch/reading about them constantly since I was a little kid “building” them on the manufacturer’s websites. Driving an 08 Santa Fe, it takes every bit of my willpower to avoid going out and buying a 5.0 before all the beautiful V8s are gone from this planet. I created a plan to keep myself in line, once I hit a net worth of 500k OR I reach 45 I will go out and buy what I want. Whichever comes first. Good luck my fellow humans! Sucks being financially responsible

[@jzeeder]

Wow, based on your numbers, you’ll be in your dream car before 45. Great job on keeping that savings rate up!

[@snarecat3441]

As an older guy, I’m proud of you . Keep it up . Go rent a kool car once in a while to “ scratch that itch” .. my son does that ! It works.. keep your eye on the prize. Get wealthy first . Piece of mind .. financially secure is a feeling that no car can ever provide. Your entire being , every cell in you just relaxes…. Then, go get the car you want! Hang in !

[@GoldenBoyJOE]

I respect your thought process in terms of building wealth but this is kind of silly don't you think Joey? You have a net worth of 150k already. The goal is for the car to be small percentage of that. You aren't talking about buying a porsche for $120k. U are talking about a mustang which is like what, max 40k? If its a small percentage of your net worth, less than half of your annual salary, buying with cash and you are prepared to spend a little less on other areas(intentional spending) then why wouldn't you do this. Also I can guarantee you that V8s will be a thing of the past and most likely banned by the time you hit 45 so do you really wanna say wish I enjoyed that v8 for a couple of years, but now I can't but guess I'm 350k richer. I think it's very possible for you to have the experience and still hit the net worth based on your figures

[@shoover2889]

@avrgjoe8 Let him keep his goal in place. Getting to where you want to be financially is better than a $45k car. Also that $45k car is almost a third of his net worth. Thats why it isn’t worth it.

[@GoldenBoyJOE]

@shoover2889 life is for living man, defs want to hit your financial goals but it isn't worth not smelling the roses because you want to hit an arbitrary number. That 45k isn't going to be flushed down the drain either, if its a used V8 Mustang and purchased correctly he'll probs recover most of his money once he sells. Now if he said he got 80k and he wanted to spend 45k I'd raise an eyebrow but that's not the case. Each to their own of course.

[@physicianskitchen]

We need to start taking into the account the actual cost of a car where we include monthly gas, insurance, repairs etc. It ends up being car price + 30%

[@KS_1995]

So true!

[@ghostbird92]

Insurance, taxes, and repairs are awful because they're hundreds to thousands of dollars and get you all at once as opposed to gas costs.

[@thesuperdingos]

And property taxes. For a 2019 car in Virginia, he’s looking at around 500-700 extra bucks lost a year.

[@Rafaahh]

"repairs" thats why you dont buy junk cars lmao. my mustang has had one issue in 3 years with the ac that was covered by warranty still

[@PepeToTheMooon]

@@Rafaahh and the caller wants to buy a 5 year old car that’s likely out of warranty

[@nickk3038]

Buy a slightly older model for 15k-20k. I love my weekend car but you can have fun for cheaper

[@hkiajtaqks5253]

Since last year it hasn't been a good market for used cars. Used cars were costing almost same as new ones with a few thousand less. I don't know what the market is now. But I ended up buying brand new because the diff wasn't enough to warrant buying used.

[@front331]

On Craigslist they're 10k-15k with all kinds of aftermarket parts and modifications. I've seen 370z for less than $10k and about 50k miles.

[@Beliefacy]

​@@front331yea this guy is a moron for wanting to spend 30k on a V6 370z when you can get them for 10 to 22k almost brand new but used

[@jaysleeper264]

Being in the military for 8+ yrs and now happily out l, I laughed so hard when "oh you're in the military" response to him only increasing pay 10g over 5 years.

[@reddawg917]

I’m trying to figure out how a 24 year old in the military is making 80K.

[@vicz8899]

@@reddawg917 Commissioned officers are paid very well.

[@reddawg917]

@@vicz8899 at 24 he couldn’t be more than an O-2…not making 80K at this point.

[@vicz8899]

@@reddawg917 you have to factor in housing allowance.

[@jaysleeper264]

@reddawg917 Yeah, I'd assume that's not the w2 wage but with all entitlements. On their end-of-year LES it will show the total of all yearly pays. And since it depends greatly on where you're stationed for the housing stipend, there's big range. I made 56k my last year of 2020 getting out as an e4 but was making much more when stationed in San Diego.

[@gino14]

My mother was always the financial strategist in the family, but what inspired me most was what people said of her, rather than what she told me. She would always drive to work in a beat down car into a parking lot full of modern or expensive cars. From what I heard, some employees were mildly teasing her(she was a manager and built that kind of relationship with her employees) about this observation that her car was the dumpiest in the lot, a truth she didn't mind and wasn't offended by. Then someone from HR butted into the conversation. "Ma'am, can you please pick up last month's paycheck? A-and the paycheck before that?" "Oh yeah, I'll get to it eventually, thanks," my mom replied. Many employees, who apparently were living paycheck to paycheck, looked at her with their jaws dropped. To me, THIS was a more satisfying flex than any car.

[@brandonscott1999]

Micah: I want to buy a car Dave: sell the car

[@AaronNewton]

I'm blown away how close this is to me right now. 24 making similar money with no debt and wants a 370z 😭😭 God needed me to hear this.

[@1ssao]

if you don’t mind me asking, what job do you have ?

[@AaronNewton]

@@1ssao recent graduate and now a software engineer in Nebraska. Saved/invested my money during the covid student loan pause and paid down my student loans this past December. Other than what I was saving full time school, I also had a few needs-based and academic-based scholarships from the school and state. Driving a used salvage title Toyota Camry that is rock solid but considering a fun second car. Hope that helps!

[@johnengland8619]

​@AaronNewton if you want a fun second vehicle buy a motorcycle

[@dianeathoacardinalridge8788]

@@AaronNewtonpay off your loans. Don’t leave them to accrue interest. Buy the car later.

[@samlamendola]

@@dianeathoacardinalridge8788did you not read what he said😂😂🤦‍♂️🤦‍♂️

[@Jerseygirl777]

This is a perfect example. Why should we should be teaching accounting as an required course in high school

[@Josh-px6xb]

Overspending and debt makes the nation go round.. it’s by design unfortunately

[@landondc4739]

Isn’t that wild. Everyone goes to school and such to be successful, and almost always money is some portion of determining success (it is certainly not all of it) yet from elementary to college, there is no finance education requirement?

[@fortunateson2]

It was in my high school.

[@cambonious23]

It has been implemented in some schools, but do kids at that age really pay attention and retain anything?

[@Josh-px6xb]

@@cambonious23 as seniors in high school, yeah you should be

[@acchronicles8991]

Wow needed to hear this

[@EppingForest304]

I use a car as a functional tool for travelling & doing errands. Not as a status symbol or weekend toy! 🧸 🚙

[@ErichH68]

Don’t waste your money on cars. ❤❤❤❤😊

[@2steaksandwiches665]

Ehhh. I’m a car guy and can afford my toy. It’s a hobby and I go to meets etc

[@kaitiscarlett9022]

@@2steaksandwiches665 key phrase is "can afford".... Too many people cannot.

[@2steaksandwiches665]

@@kaitiscarlett9022 I get it. It’s a little bit of a stretch for me but it’s also a car that I’m going to keep for 30 years and pass on to my kids because it’s a rare special car. I’ve got 10 months left on it. My daily is a 12-year-old Volvo. That’s worth about five grand.

[@ruhhshelle]

I drive a paid off 2006 4runner. I'm giving it a (reasonable) makeover this summer, but i plan to drive it into the dirt. So like... 30 more years.

[@daniellel256]

I drove a 2003 4runner for 20 years. 300k miles. Sold for $5k. Best car I ever owned. Completely agree. The 4runner will last a looong time

[@ruhhshelle]

@daniellel256 I got mine 3 years ago, and is currently valued ABOVE what I paid. Best decision I ever made... except the paint. Toyota's paint from that era is trash lol.

[@dan.b]

[Music] “brought to you by the every dooll app” Gets me every time.

[@WarriorsPhoto]

Thank you to Micah for making this call. I was thinking of getting a second car. Now I'll hold off. Yes it only took one video.

[@neeferpd]

Good for you! If you're a young one, the power of compounding means your splurges in your youth exponentially affect your net worth later. Life is all about balances and if you're frugal when young, you'll have that much more room to loosen up as you get older. And I'm a car nut too so I get it, but at least I keep mine for 12-25 years lol

[@WarriorsPhoto]

@@neeferpd Glad that car lasted 12+ years. What was it?

[@neeferpd]

@@WarriorsPhotooh 12 years is minimum. Mostly Honda and Subaru. Current cars are 2018 Honda and 2005 Subaru! Only car I had less than 12 was piece of garbage Pontiac I had to unload after 4 years. Had my toy years ago too, a 1967 Corvette and actually sold it after enjoying it for like 10 years for more than we paid for it.

[@WarriorsPhoto]

@@neeferpd Nice! Glad you got to enjoy your dream cars and toys.

[@randomvideosn0where]

I have a car thing, but I like cheap vehicles. I have 3 cars, a truck, and 2 motorcycles that add up to 25% of my income. The thing I disagree with Dave is, an 86 F150, 2003 Prius, etc are pretty much done depreciating if not appreciating due to age and inflation. But my F150 is still a hoot driving to the hardware store shifting through all 4 gears and throwing full sheets of plywood in the bed because it is a truck not a minivan with a bed.

[@MGTOWmademeMillionaire777]

Sweet car! So beautiful, but not the right time. Im 35, live in Costa Rica, here the corvette c8 Z51 worths 176 900 dollars, i bought it once i got to 1 M in the bank and all my properties paid. Waited 10 years to enjoy 😂

[@Defy_Convention]

I hear about people all the time in their 50s suffering from debilitating ailments or dropping dead. I'd just enjoy life now, quality of life tails off quickly after 70 if you get there anyway.

[@woodysrockspyro6436]

Agreed... by 70 half are dead.. multiple joint replacements and ready to sit in a chair half the day for the other half.

[@touchedy5128]

exactly have some balance save and set up your future but dont be so busy saving and investing that you dont enjoy life and treat yourself, tomorrow aint promised

[@Ray03595]

Channels like these always forget this. So focused on saving you forget to live your life. This guy is 24 and debt free making 80k. That’s a fantastic position to be in. Maybe he doesn’t need a 30k car but he can still afford a 2nd. Being millionaire isn’t the end goal of life. Enjoying life is.

[@sriniwinner]

Not really. It's not just about the money. If you are born poor one needs a feeling of safety, not having to go ask or beg someone for emergencies etc. It's more psychological comfort . Some people extroverts that born poor but want to enjoy life and want to splurge, others are wanting a security blanket. It's people who live , not the rules.

[@caroleanne8529]

​@@woodysrockspyro6436 A lot depends on how you treated your body when you were 30. Take care of yourself, get your teeth cleaned, don't do stupid stuff that will affect your body for the rest of your life, but do have fun.

[@MalVMoo]

School teacher here. Most I’ve gotten is a $1000 bonus a year. Still under 50k currently. Would love to make as much as some of you that claim you’re having problems. Not discrediting, but just saying count your blessings.

[@keithbellair9508]

Thats because most of the money is going to the pension funds… make no mistake people in the private sector making decent money are busting their ass for it 60 plus hours a week, 50 weeks a year and we aren’t getting any promise of a pension or life long free healthcare.

[@ManaVibes]

Seriously 😢

[@TharsanJeyachandran]

lit ep

[@philmarsh3859]

I own a house without a mortgage. I don't own a car yet. I use a bike. Saves money on the purchase, gas, insurance, licensing, and my health.

[@tommysmith2719]

Why not buy a car

[@keithbellair9508]

@@tommysmith2719 because its a cheap bastard

[@keithbellair9508]

@@philmarsh3859 house is a money pit

[@foxtrotwolf6081]

Also include your health care, retirement, commissary benefits, housing, etc., that are included in the military as part of your income.

[@JBrown-go8ru]

Exactly! In the military, it's not an apples to apples comparison. With just about everything covered by the military, an $80K salary (guessing he's an officer), goes a very long way.

[@MooMoo69556]

@@JBrown-go8rudude I’m at $108k as an O with 0 debt and we’re rich asf

[@keithbellair9508]

Fuck the commie ussa military

[@melrosehawkins8294]

Lol. Many people don't think about the later repair costs for high end cars. They go to get something fixed and are shell shocked at the price quoted.

[@Theaverageazn247]

a 100k msrp car will still have the costs to repair a 100k car even if its only worth 30k

[@the1anonymouse]

A 370z isn't a high end car. It has the same running costs of any other nissan

[@aerotus888]

​@@the1anonymousejoker

[@15KHPCLUB]

@@the1anonymouse Not with the way you ricers drive them

[@the1anonymouse]

@@15KHPCLUB Did someone just learn a new word?

[@scottkolaya2110]

5:15 I have that book since 1996. $22 for that book seemed like a lot back then. One of the only strange things in the book in the section "meet the millionaire next door" was "our average income is $247,000" That seemed ridiculously high for a million dollar net worth. That's multi-millionaire.

[@ryebread447]

Out of touch if the averrage reader makes 50k annually

[@haucks]

I drove a used toyota camry for 5 years after I completed my residency and fellowship, all while making 700k a year. I wiped out 300k in student loan debt, saved up for a down payment on our dream home and went from negative net worth to a multimillionaire. I recently bought a nice but slightly used truck with cash for 45k and I still felt a little guilty doing it.

[@momomnc7206]

I love your testimony! Way to go!!

[@michelel8.5]

Great. Happy for you

[@dking1362]

Disciplined and wise. Enjoy your truck!

[@UtotheJ]

Guilt is normal. Financial affordability does not mean emotional affordability, especially when you have trained yourself to be frugal when it comes to cars.

[@jdubb200]

You were making 700k. Only thing you had to do was not got crazy and add more debt , invest and you were going to be a multi-millionaire making that much.

[@tonytoni1150]

People see your car, they don’t see your house. That’s why having a nice car is so important to some people.

[@kendrapratt2098]

This all day!

[@markg999]

Insecure people think that way...and dumb. Invest in a house they appreciate cars vast majority dont.

[@aaronkelley3865]

@@markg999 Are you insecure-phobic?

[@charlesg7926]

It’s funny, I own three rental homes + my home, but all 4 are modest townhomes. Whereas my car is a new Ford Explorer. I do sales and make 250k+ a year, so a good car is an investment

[@charlesg7926]

Like I know that, technically, a car goes down in value, but the purpose of my having a good car is because it gets me a lot of sales. If I drove a crappy car, people sadly DO judge you

[@EppingForest304]

As a driver of an old-ish low value car… I’m not too concerned about the small dents & scratches on the bodywork or wheels, & I park in any neighbourhood as it’s not attractive to thieves. 🚘 🚙

[@timsimon8995]

2010 ford focus RS. Only going up in price since i bought it 7 years ago

[@NewGuy2024]

I always loved and admire cars since a teen. Got a brand new 2001 4X4 after college with cash. I quickly got married and had kids and been driving Minivans (all used for $6-$13k) for the next 15 years. Kids are both now in college. Still got the 4X4 with 65,000 miles only. I work at home and hardly go anywhere regularly so I care less about cars the older I get. I see it as simply transportation now. I was dumb as a young adult and slowly smarter with age. Cars is a depreciating asset and investment double every 10 years. Age 46 in Baby step 7 with a net worth of $4 million+ if that really matters.

[@musicman7297]

LOL 😂, your 2001 4x4 is worth more today than what you paid for it with only 65 thousand miles on it.

[@NewGuy2024]

@@musicman7297 Can't believe how many folks have asked me if I am interested in selling it since it looks great being a garage Princess for the past 20+ years...They probably think they'll get it for $5-$8k...LOL!

[@MrTmenzo]

Buy a used one if a 2019 is still going for 30k

[@zeomarmob]

Sold my cls55 amg for the same money I bought it 7 years later with plus 160k miles. Best deal I ever had on the car. 😊

[@BeadnWithNicoleB]

This is a great episode. I'm in that situation now. I'm driving a rental car and ready to buy a car. I'm debating between a new car vs cash car. I found a 2019 Infinity QX30 for 19k and 2019 Mercedes 250 Sport 22k. Or purchase new 24 Lexus SUV. So undecided because they are used with no warranty.

[@nes8939]

Goes down “Like a rock” 😂😂 I can’t unsee it now.

[@Boobtube.]

it is not just chevrolet that goes down in value.

[@kendrapratt2098]

Loved the Chevy truck commercial reference 😆

[@xterra4hire]

I thought that commercial meant the quality

[@LittleMopeHead]

^It is, but Dave spun it the other way, which is hilarious 😂

[@CliffhangerDK]

Starting getting into Dave Ramsey from abroad. A lot of things dont map out 1 to 1, but the principles are sound 🙌🏻

[@dank1518]

Went to college 4 plus decades ago and Personal Finance teacher had similar outlook as Dave. He drove a 1963 dodge dart with rusty hood and roof. Pretty sure he’s still driving it.

[@Thurgor_Supreme]

And here I am feeling stupid about a $7k custom bass guitar when I make a 6 figure salary with no debt and a crappy-ish car. And my guilty pleasure asset will actually retain/go up in value

[@whyme7996]

enjoy your bass guitar.

[@BrettMedema]

I just bought a 370z six days ago as my play car, paid the exact amount as the caller. First time ever owning two cars. Difference is I’m 58, and my net worth just ticked over two million. He should wait and keep saving and investing for sure.

[@landondc4739]

I was thinking the same, but say it was a 1979 240z, that car is only going up, no?

[@Daveandconfused.]

Congratulations Sir, you living many of our dreams, and I will get there

[@elmerramirez1215]

Can I have 20,000?

[@Dedimoldu9]

In 2024, $2M at age 58 is nothing to brag about at all.

[@dennisdominguez5750]

​@@Dedimoldu9probably more than you got.

[@ckennedy1973]

No where near these numbers but have increased my 401k withholding a couple of percentage points. With employer match, it really becomes substantial over time. Still driving my 2011 ford edge though probably could afford a new car. Maintenance costs are going up in addition to insurance so not to bullish on that right now.

[@ericpolk2131]

Actually, Chevy got the Like A Rock slogan from the Bob Seger tune of the same name.

[@maximusdecimusmeridius5438]

I wouldn’t buy it, just invest the money

[@TRC19999]

Making 80k and spending that much on a car? Invest that 30k instead and in a few years, he’ll be able to buy 2-3 of the same car.

[@patriotdrone9566]

Exactly, he's 24 and about to make a dumb decision. When he's 34 he'll wish he tossed that money into and EFT for a 6 figure return. We make dumb choices when we are young.

[@raymond_sycamore]

a few years? I don't think you understand math.

[@PepeToTheMooon]

@@raymond_sycamorein 5-10 years, yes he will be way better off. Seems like you don’t know how compounding interest works. And that car he desires will be much less in value, so yes 2-3 of the same model and year car will be easily doable. Perhaps you can’t do math.

[@raymond_sycamore]

@@PepeToTheMooon what's hilarious is you're assuming I'm not sitting here with ZERO debt and a $1,400 beater. GTFO!

[@musicman7297]

​@@PepeToTheMooonLOL 😂, a car today .... 50 thousand.... a car in 3 years .... 60 thousand. My 2012 pickup truck cost me 26 thousand new .... it now is 50 thousand or more.

[@robertc8766]

i have classic car insurance that is very low in cost because of my low miles. this policy is separate from my regular car insurance policy

[@bobmarker6812]

I pay cash on a one to two year BASIC car, then drive it until it's worth it's weight in scrap. My current car is a 2007 Fusion. Retired at 57 with NO debt including house which I paid off in 11 1/2 years. Worked s a high pressure steam operator holding a high pressure steam engineers license. No degree.

[@stevegolacks8731]

Im surprised Dave gave this answer. The guys income rules are so close to Daves rule, plus he is military!! Tomorrow is promised to no one, so he should go for it. He has the cash!

[@nickm4662]

That’s a bad mentality. I’m in the same position as the caller. I’m looking for a second car that I don’t need. But that money for a car can go towards so many other good investments rather than a car.

[@stevegolacks8731]

@@nickm4662 . Get the car, drive fast, have fun! Tomorrow is promised to no one!

[@tonytoni1150]

@@nickm4662 He should do it now while he’s young and ahead. If he was a 50yr old man with no retirement, then of course it would be a bad idea. He’ll be aight..

[@kd4029]

Completely agree! He’s got good habits and good head on his shoulders. In a job as rough as the military, it’s good to have small pockets of happiness… life MUST be enjoyed somewhere in the middle of the grind!

[@edgaruriarte]

​@@stevegolacks8731until the day tomorrow comes and now you're 50, thinking back and wondering where the last 20 years went and why you don't have enough to retire soon. Btw I ride a motorcycle so yes, I do enjoy living for today as well.

[@carbob9964]

I want to buy my dream car in cash, but I’m saving it for a house instead. Plus I already have a paid for used car. I have learned to simply appreciate the look of the car I want, and get over the owning aspect of it.

[@keithbellair9508]

Houses are the biggest money pits

[@jerrodlopes186]

I work for the city that I live in. It's a good sized city (about 350,000). I drive through virtually every neighborhood in the city and I can tell you that hands down, the more cars, the poorer the neighborhood. The wealthiest homes usually don't have any cars in view at all.

[@jaygold4467]

2000 Mercury minivan with 223 K on it. I just stuck a new gas tank in it. Drives like new. My investment account loves it.

[@genglandoh]

I am 67 and will retire in June 2024. We decided to get ready to retire so we purchased 2 good used cars, paid about $35,000 total in cash. We also have no debts, paid off house and a good amount in our investment

[@raphymartinez]

What 2 good use cars did you buy in 2023/2024 for $35,000?

[@genglandoh]

Honda CRV and Toyota Sienna@@raphymartinez

[@pistachiosandpopcorn7146]

“It goes down in value..like a Rock…that’s where Chevy got that “ lolol

[@Boobtube.]

@@musoui to old? or to young?

[@dcgo44r]

Savage.. He seems a Ford guy! 😂😂

[@Beliefacy]

I work on and around sports cars which makes me want to move up in car. I'm on baby step 4 w/ an 02 Silverado and 06 G35 I've paid for them both in cash. Currently working on adding additional income to make this 20-40k move up in car happen. I think it can be done with a lot of extra income.

[@thomasfranco5997]

I have a 2006 Lexus LS-420. I have close to150,000 miles on it. Bought it in 2011 for $25,000 and paid it off in 2016. If I want to go to Palm Springs or to Vegas. I rent a car from Enterprise, and I get 25% off for working at an Auto and Home Insurance Co. I save MONEY.

[@blake3606]

I've never paid more than $10k for a car in my entire LIFE. Also never had a car payment because I paid cash. I'm 40, I also make $200k a year. I don't care. 😂

[@thomasfranco5997]

@@blake3606 I actually would by a house first like I did at 27 years old and bought a condo and a house later on in life. I rent out the condo and the house. I still live in the same house for 40 years now. I still believe that real estate is the best investment.

[@blake3606]

@@thomasfranco5997 it is. Especially real estate that has more than one separated living area on a property. I own a couple of those. Buy a property with a mother-in-law suite and rent out the main house. Has worked wonders for me.

[@blake3606]

@@musoui I paid $6k for my 2014 Mitsubishi Mirage with 60k miles on it. I usually buy the cars that people are about to go trade in for something a lot more expensive. I have lived mostly in medium sized cities and I travel a lot further than 10 miles. ( I am a travel nurse. )

[@rustykatt3870]

In my view, having 2 cars with $500 - 700 per month payments in front of a middle-class home, will not help you stay in the middle-class. Having older reliable free well-running cars will help you stay in the middle class. I'm surprised Dave added 2 car loans to being able to stay middle class. Did I hear incorrectly? Oh, and 50% tied up with vehicles? That seems to be a departure from Dave's usual advice. Good luck to us all.

[@BrianHealyMusic]

I believe Dave meant "stay middle class" as a bad thing. I.e. as opposed to becoming wealthy.

[@tylersvensson4468]

His buying the car not putting a payment plan on it

[@leilani2258]

His point was actually the exact opposite from this.

[@rustykatt3870]

@@BrianHealyMusic And so many of us are fighting hard to stay in the middle class. But, you are correct, he meant it as a bad thing, rather than becoming wealthy. I think it is a goal for many to just fight to stay in the middle-class as the goal posts get further out . Is it $100,000 now to be in the middle-class? No more coffee or snacks out for me (stopped a long time ago). God help us all.

[@user-rw8zj1td9v]

He needs to clarify there's different levels of millionaire. 20 million and you can have 5 sports cars lol. 1 million...maybe one 100k sports car if you make 250k a year

[@dking1362]

Or not, if you are retired and looking for that million to fund 25 years of life with little additional income. 😃

[@steelcastle5616]

Does anyone know or have seen the study of millionaires Dave keeps referring to? I (and many others I'm sure) would really like to read it.

[@LxTxSURGE]

i luv gears 😂😂😂

[@albertogonzalez1746]

What’s the point of being a millionaire if you never enjoy any of it

[@Boobtube.]

exactly, but not to worry, the family will piss it all away in 6 months after the millionaire dies. I say live your life and buy a few nice things here and there. It is all moderation.

[@gmarie3053]

Micah is not a millionaire🤣 Dave is and enjoys life by the sound of it

[@Boobtube.]

@@gmarie3053 Dave was not a millionaire at 24 either.. Id like to ask Dave how old he was when he bought his first car.

[@antonioiniguez1615]

If you follow the 50/20/30 rule you can enjoy a lot.

[@killamatrix1]

Whats that​@@antonioiniguez1615

[@lukerbs]

I would rather keep the 30k and keep saving up for a down payment on a home

[@TheWalamala]

downpayment w/ 30k 😂

[@cle_roknn3742]

He’s in the military, buying a house is not a good idea. He will be moving ALOT if he wants to keep getting promotions and if he is deployed that’s just a vacant house you’re paying for. The smart move is to use base housing and save the cash!

[@DeanBKK]

​@TheWalamala perhaps you can't read. He said "keep the 30k and KEEP SAVING UP: 🤦‍♂️

[@joemay1200]

Also, he won’t be in the military forever.

[@keithbellair9508]

Stupid.. houses are money pits

[@ThekillingGoku]

I've got a company car, which covers all the expenses that come with a car. Advantage of that is that I drive a fancy car, which would more than likely not be the best purchase for my personal budget. Of course, this does cut into my wages too, but having the car is, at the moment, worth more than the 'net' wage I'd take home if I were to ditch the car, letting it be paid in gross salary instead (which would leave me car'less, requireing me to buy one anyway, albeit likely not the same fancy-ness). Meh, it's always something ain't it.

[@Hdhfhhdh]

I got 40% raise when I switched from company A to B and 9 months later I got another 10% raise when I switched from company B to C.

[@15KHPCLUB]

Don’t switch companies too often or you’ll be considered a “job hopper” and get rejected more often.

[@Hdhfhhdh]

@@15KHPCLUB I agree , I was planning to switch from company B to C, but I had to since company B laid me off. In the end it worked out for me

[@antonioiniguez1615]

@@15KHPCLUB To an extent sure, but research shows people who switch jobs every 2-3 years make more money than people who stay with a company.

[@Earstolisten]

My cars work for me, not the other way around.

[@Zediaphh]

This is the first time of me listening that I'm hearing a caller with the exact same situation as me. Exact same age, wage, investments, debt. Makes this call awesome for me lol

[@barnbuiltbeaters]

Over the years I've listened to Ramsey and thought he was a bit extreme. Hearing this, I thought it was extreme not to get the car but he did a good job explaining why he shouldn't, due to wealth building and not due to not being able to afford it. My vehicle violates the 50% rule. However it is an EV and I am saving a significant amount of gas each month with a slight increase in electricity. I wonder how that plays into their 50% rule. My monthly cost of ownership is slightly more then my 130k mile vehicle for a brand new car. I took into consideration monthly cost of ownership rather then just monthly payments. I know Ramsey wouldn't approve of my auto loan though!

[@rfcorreiaiv]

for me its the property taxes in CT that kill me. Cars paid off, motorcycles paid off- $2000 a year in property taxes for nothing.....

[@OGN123]

Would disagree with the car in front of the house thing. My cars look much nicer than my house would lead you to believe I can afford… but that’s because I got a mortgage that’s 1/3 of what I was approved for 🤣 it’s so sweet when your mortgage isn’t even 10% of your take-home… lets you save for retirement and… nice cars 🤣💀

[@kd4029]

Life hack! Lol

[@mostwantedkiss]

I earn $170K and drive a Camry. Its a very reliable car never gave me any trouble.

[@hendrikkoopman3570]

How much maintenance is too much on a vehicle? Say a vehicle is worth 12k and it needs 4000 in mainetenace costs? Is it worth fixing or selling.

[@erinselmon7289]

Also everything going up except wages

[@dougholdem2898]

That $30k you're thinking about buying today at 24 when you all ready have a car could be invested in a mutual fund that will double at least every 10 years. So, that $30k car today could be doubled twice and worth $120k at 44. A decision is only as good as it's alternative. Consider this one.

[@stevegolacks8731]

If you think that way, then you should also invest ALL the money you spend on restaurants, going out, movies, cable, internet, cell phone, cutting your grocery bill, etc etc. In other words, life costs money, and no matter what you do in life, there will always be a cheaper way to do it. But, this guy has no debt, and works a dangerous job. He needs to enjoy life!

[@dougholdem2898]

@@stevegolacks8731 - No, he doesn't "need to", but if he really "wants to" after considering the true cost and lost opportunity, go for it.

[@regtalkswealth]

Daves a car guy love this 😁

[@thefall3551]

I have done the FP program, i am 41 years old and technically a NW millionaire. I bought a used kubota tractor 8 years ago and today its worth more than i paid for it, same goes for my bass boat. Purchased a used atv in 2011 and sold it 9 years later for what I paid for it. I am in Canada so things may be different, but in my experience if you buy toys correctly you can easily re coop your investment.

[@johannesswillery7855]

It blows me away to see how much a John Deere tractor sells for. Some literally never lose value.

[@bmmk12]

I mean, dude is great with money, decent income, maxes out retirement, has saved thirty K cash...just enjoy your money!

[@ardascholar5289]

makes too much sense if you are ding dong dave

[@Eli-ye4df]

Nope, he’s gonna regret it when he could have used it for an investment or kept saving for a down payment on some property

[@bmmk12]

@@Eli-ye4df You can't save everything! You need to spend and enjoy some of your money. He's in a good place, he can afford to do that. I'll never understand people that tell others what they can and can't buy with their money!

[@Executor009]

He called for a reason.

[@marymarquis1591]

Amen.

[@fortgrove3166]

80k and 24 years old. Either a junior officer or an enlisted including BAH and BAS as income. He should have said TSP instead of 401k. On active duty, I made 15k raise as an officer due to a raise due to a promotion and my over 20 years in service plus the government annual pay raise as well. Put that extra money in a taxable brokerage account as well.

[@PepeToTheMooon]

I hope he doesn’t live in northern Virginia. Otherwise good luck with paying those high property taxes every 6 months.

[@randymillhouse791]

2012 Hyundai Elantra. Missing fog light, shocks not for the hemorrhoid crowd, gets me to work and home, paid off in 2016. I LOVE IT!!!!!!! 2017 Honda Civic, running very well, nothing missing, paid off in 2023. I LOVE IT!

[@Daveandconfused.]

Damn, 5 years expected to go up 10 grand, that’s insane, but long term military is the way to go

[@FortuneSeek3rz]

Good advice Dave...

[@inthebedrightnow]

370z is a fun car. One of nissan's last good cars. Can probably get a used one much cheaper though

[@s0ccer96]

You also have to live a little. Do you really want to wait until you’re 45 to get your favorite car? You can make smart financial decisions while also living a little. Where people mess up is not necessarily in buying their favorite cars; it’s just in general living way out of their means; it’s not just the cars; it’s the excess spending on clothes, traveling, and a bunch of other things they don’t need. In other words, balance it out.

[@robertbrown1021]

I actually think with him being 24 to go for it, new cars are great from the age 16-29 but after that it starts to become a total waste... He is debt free young.... Go for it

[@s0ccer96]

@@robertbrown1021 exactly my thoughts. Plus, we tend to enjoy these cars when we’re younger. Take advantage of that imo! Doing it responsibly and enjoying one’s self is worth it.

[@EppingForest304]

Along with the depreciation… new cars lose the “new toy” feel quite quickly!

[@atrain132]

A lot of sports cars go down in value at first. Later on when they are dirt cheap, car enthusiasts, and tuners buy them up at the cheap price. They become popular, and the value skyrockets. So I would suggest if a car is paid for, and you want to keep it, then keep it.

[@19hundoc47]

Here’s what you do man. Since you have the cash, go lowball someone selling it privately and get a great deal on it. That way in a year or two you can sell it and break even. That’s what I used to do.

[@anthonys5568]

A military guy can be a multi-millionaire if they just max out their TSP for 20 years. Plus a nice pension with medical . Best kept secret. Been there. Living large now!

[@seekuncertainty]

It had been the same car since 2009. You can snatch up a lower mileage 2010-2016 for 20-25k and not miss out on anything worth mentioning.

[@FortuneSeek3rz]

Good point...

[@roncedad7032]

Inflation is destroying daves principles. When cars go up 20 to 30% in 2 to 3yrs. Makes it very difficult for the average consumer

[@chad1755]

Long term it will average out. You can't take a couple years as a valid sample size.

[@kurt1522]

Trying to convince my wife of this, typically we buy two year old cars. Our one car is going to be paid off this year and she wants a newer vehicle. I've said let's wait a year and put the old payment into a savings account. Then look for a a car deal. Just because we can afford it doesn't mean we have to buy it.

[@kurt1522]

Our other car is paid off, thirteen years old. Still running well, nothing outside of maintenance costs oil change, tires, brakes.

[@LittleMopeHead]

I am still driving a '97 Lexus ES 300 with 270k miles. That's almost a 30-yr car! Put it into perspective a little 😄

[@dking1362]

I'm with you....if the car has no problems and you can wait a year, sock away the $ in the meantime. The time will fly by and you will never be sorry you set extra aside.

[@kurt1522]

@@dking1362 exactly, said set up an account just for that money and deposit it every month just like a car payment. Used vehicles going for $25,000-30,000 is crazy when you see the mileage sometimes. Our newer one is a 2017 bought in 2019. Had low mileage and features I wanted as well, was trading in my older vehicle. But I use the older one for going to work as I have a 30 min commute and it gets 28 mpg. Except in bad weather take newer one with AWD. Wife wants another one with AWD, which I agree with. But is worth extra insurance, registration, maintenance to have 3 vehicles as she'd like to keep older one.

[@kurt1522]

I don't think it really is, but finding a vehicle with AWD that gets good mpg on highway is not easy. Why I want to wait, not hurry into another car payment besides the inflated costs right now.

[@Aj773CHITOWNsboii]

Dave said its never ok unless you have a net worth of a million!!

[@15KHPCLUB]

He’s exaggerating like he does all the time. If you can buy the car at least twice you’ll be fine.

[@Aj773CHITOWNsboii]

@@15KHPCLUB never not unless my net worth is a 1 million or better. We buy used cars only

[@notremarchedelafin]

Sold my 2013 Matrix, 9300$ CAN, bought a 2021 Corolla Hatchback 26300$ CAN (+ taxes), last month. I ditched 15k in cash on top of the 9300$. So, at the moment, I have roughly a 5000$ debt on that car, at 10% rate. My plan is to clear that in 6 to 8 months. That 2013 Matrix was perfectly fine... could have kept it at least 6 more years... but, I felt like changing, like, a gift from me to me... and so, I'll keep that Corolla 10 years, like I did with the Matrix, but right now, I feel happy... purely emotionnal decision... I think it's still not too bad, if I clear the 5000$ in debt quickly.

[@TheRealEdStoner]

If he’s in the military, I would’ve asked him if there’s a chance he could be deployed in the next year or so. It’d be silly to buy a car and then go overseas for two or three years.

[@someoneelse6934]

I am a 3x millionaire. My saying is “ becoming a millionaire is knowing the difference between what you could afford vs. what you should afford”. At this point, I COULD buy 10 Lambos, but I shouldn’t. I finally bought my first new car ever. A 40kish Tesla. Cash. Yes it will depreciate the moment I drive it off the lot, but I can absorb that depreciation without losing a moment of sleep.

[@xZeroMechanismx]

Same for me. I always buy used cars in cash.

[@Jelk915]

Been on my job 14 years still not making 10,000 more than when I started

[@jimmymcgill6778]

He thinks people get raising every years. He probable doesn't give thousand dollars raises every year.

[@ryanthepianoman27]

Change jobs

[@Bubbasizer]

Dave is a little out of touch on this. Most companies don't hand raises out like candy, they figure they can get it done by you or somebody else for less. They would rather watch a dedicated hard working employee walk when asking for more money and hire someone else unless you have a very needed hard to find skill set...

[@reese85]

You gotta find a new job or better your skills

[@reese85]

@@Bubbasizer 14 yrs making the same money? It’s time to ask for a raise or find a new job