Where Should I Park My Savings For A House?

Where Should I Park My Savings For A House?
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Listen to how ordinary people built extraordinary wealth-and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Christy Wright, Rachel Cruze, and John Delony.
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[@RamseyEverydayMillionaires]

Nix the guesswork and scrolling. We’ll connect you with investment pros we trust: bit.ly/3kwqrhf

[@HugoBergmann-lu4nd]

The most important thing that should be on everyone mind currently should be to invest in different sources of income that doesn't depend on the government. Especially with the current economic crisis around the word. This is still a good time to invest in various stocks, Gold, silver and digital currencies

[@Wellerpage]

The key to big returns is not big moving stocks. It's managing risk in relationship to reward. Having the correct size on and turning your edge as many times as necessary to reach your goal. That holds true from long term investing to day trading.

[@FarrahBaker467]

Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again

[@JerryOrion]

Could you recommend your advisor? I'll be happy to use some help.

[@FarrahBaker467]

Sharon Lee Peoples is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@grego6278]

I looked her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@JordanReam8186]

I recently sold an apartment in Springfield and now have about $250K in cash. I was advised to invest in stocks. I'm new to investing, as I've always preferred to play it safe with cash, but I'm now ready to take a little risk. What are the best strategies for long-term investments for retirement?

[@WestonScally7614]

While the stock market is promising and can give good ROI, expert guidance is essential for effective portfolio management so you don't get burnt out in the market as it is very volatile.

[@FeelMyTruth]

My dear husband passed away in 2021, and I have around $400K from his life insurance just sitting in a bank account, earning nothing. I was advised to invest it through an advisor, and in just six months, I achieved over 80% capital growth, not including dividends. Highly recommended!

[@Redwood4040]

Pls how can i meet this advis0r? i want someone to help me invest my divorce settlement, It's just being laying around in the bank without appreciating much

[@FeelMyTruth]

I work with *Jennifer Leigh Hickman* , a licensed advisor. Simply search the name to find the necessary details to schedule an appointment. She's really good-

[@FeelMyTruth]

*Jennifer Leigh Hickman* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment. She's really good.

[@markwitt811]

One year later and money market accounts now pay over 4.5% compared to the 0.5% in the time of this video.

[@willywonka2164]

No 5+% a month after your comment.

[@markwitt811]

@@willywonka2164 Yeah, I'm now earning over 5% at VioBank

[@sbman436]

I'm getting 5%

[@nickelarcade6934]

I’m getting close to 5% with ally high yield savings. Crazy

[@RichL4899]

5.3%

[@vinylexplorer9817]

One of the rarest occasions when Dave does not need to ask: "How much money do you make?" LOL God bless this family!

[@mycaddigo]

700k in retirement at 36. He could pause contributing for a few years and get the dream house in cash. It’s a balance of how much you need in retirement vs living your dreams in the near future. Dave can’t break away from his formula no matter what. The guy is going to have millions in retirement at 65 if he contributed nothing at 36… he would have over 2 million + with zero contributions at this point ..

[@MrBrewman95]

2023 high yield for sure. That’s where I’m parking mine while I do baby step 3b.

[@sheraziqbal9556]

You don't need to make massive lump sum overpayment to clear off your mortgage debt. Make regular monthly overpayments over 12 month to the same amount. At the end of the year you will still have over paid the same but doing it each month you'll have liquid cash in case of an emergency.

[@stevensmiddlemass2072]

I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.

[@Curbalnk]

A solid strategy can be a key component of an investor’s portfolio. Well, the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.

[@Shultz4334]

@@Curbalnk Yes true, I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor and I've been returning at least $98k every month so I’ve been sticking to investing via an Advisor.

[@DanLeahfort]

@@Shultz4334 I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?

[@Shultz4334]

*Heather Ann Christensen* is my advis0r. She has since provided entry and exit points on the securities I concentrate on. If you want to check her out, you may do so online. I usually trade in accordance with her strategy.

[@DanLeahfort]

@@Shultz4334 I just checked her up online, and I must admit that she has an extremely outstanding experience in investment. Thanks for sharing. I'm going to send her an email right away

[@HatedJared]

15 month CD's are paying over 5%. I'd just park my funds in those for 1-2 years for a guaranteed return with no risk of losing value.

[@colleen.odegaard]

I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but with the prices on homes are stupidly ridiculous and Mortgage prices. Do I just invest my spare cash of $980k into stock and wait or should I go ahead to buy a home anyways.

[@TeresaBrickle]

@harrietlancaster44 Quite true! You don't necessarily need to be a flawless investor; all you need to do is seek advice from an expert. I began investing in 2016 and pulled a profit of roughly $900k that same year despite having no prior investment knowledge.

[@velayuthman]

@@TeresaBrickle Due to the significant falls, I need advice on how to rebuild my portfolio and develop more successful tactics. Where can I find this advisor?

[@TeresaBrickle]

There are a lot of independent advisors you might look into. But i work with *Theresa Maria Kost* , and she is excellent. You could check her out online and proceed with her if she satisfies your discretion. I endorse her.

[@velayuthman]

@@TeresaBrickle Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly scheduling a call.

[@DefinitelyNotRin]

​@@TeresaBrickle Bot scam comment

[@stevebeaver6529]

High yield savings accounts or Treasury Bills are both paying over 5% so I’d go that route for sure.

[@chrisrightmire9281]

Interest rates have increased like 4 percentage points since this video came out - seems like a no brainer to put it in a CD, high-yield savings, money market

[@dungeonmaster6292]

High yield savings are often limited to 1500 usd

[@TonyCox1351]

@@dungeonmaster6292never seen a limit of 1500 on a HYSA. Many encourage you to put more because it’s better for them. There are jumbo CDs paying 5% right now with a $100K minimum

[@whothou]

@@dungeonmaster6292 huh??? what shoddy HYSA are you looking at??? I've yet to see A HYSA with a money cap,

[@dungeonmaster6292]

@@whothou you can put more in but it only yields to the capped amount. That's what my credit union offers

[@Cravz69]

Great call and eerily similar to my situation. Congrats to these guys for proving it works.

[@forbes4007]

Same here

[@ithomas101]

I'm in a similar situation where I don't have a home/rent payment. I take the money I would pay for rent by myself, and put it in an moderate roboinvestment account. The goal is then that in 5+ years, I would have enough saved up to just buy a house with cash, or pay a significant portion of a house.

[@derekeano]

What do you use for your robo investment account? And what kind of breakdown is it between stocks, bonds, etc.

[@percivalgooglyeyes6178]

A few months ago one of my tenants was in this same scenario - had a good down payment saved, but with higher interest rates and whatever other reasons decided they wanted to wait at least a year before buying a house. Rather than park the money, he negotiated with me to pre-pay the rent for a year at a reduced (5.7%) rent for the lump sum. Now he saved a few hundred dollars per month on rent, doesn't have to pay rent until next April, doesn't have to pay taxes on what otherwise would have been invested, and he can continue to build his nest egg. Benefits to me that made it worthwhile was the piece of mind I had all the money up front, great security and a stable tenant. So others in this situation may want to talk to their landlord for a similar deal. Word of caution would be to make sure your landlord is very legitimate and doesn't have a mortgage and make sure they have adequate reserves for repairs, and the property taxes are being paid.

[@aliciaz4682]

That’s amazing!! Brilliant way to save money and is a win win for both parties!

[@cybrainx72]

Wow! Your tenant is brilliant. That's tax free 6.1%. Did he have rental contract redone ?

[@g.t.richardson6311]

That’s called making a deal Good deal for both

[@symplybeingme]

Way to go. Blessing

[@GenerationX1984]

If housing prices keep going up like they are the American Dream of owning a home will be a thing of the past for first time home buyers and most Gen Zers.

[@robert2273]

I think that in their case it’s not a bad idea to invest into safer growth index/mutual funds and stash some into a money market account because the odds are you won’t lose a lot of money and if you divide that money into a percentage of both your risk is really low

[@barbieblue3336]

Think seriously about moving, not moving. 1) do you need to? 2) how old are your kids? 3) are they going to college? 4) how old are you? 4) where do you want to live when you are in your 50s, 60s? 5) do you want your adult kids living with you, not starting their own lives, not marrying, bumming around your fancy new house, watching dr phil, playing computer games, not working, acting like teens, going on dr phil? Re-think moving up in house size and price. Many two story houses are overwhelming for people in their late 60s and 70s, etc. Look at your area. I know people who stayed in houses for decades. I kind of wish we had. I promise you - there is a real argument FOR REMAINING IN THE HOUSE.

[@Georgio476]

What about putting that money in a CD or the current high yield saving accounts offering up to 4.5%?

[@Sonofawildanimal4241]

Yes

[@uriel-heavensguardian8949]

Awesome video!!!!

[@kennethnicholson6419]

I like the way this guy says thank you

[@m444ss]

current interest rates + creditworthiness: seems like T-Bills are a good place to park some of the money right now vs money market fund

[@kzstaytrue1983]

Planning on moving to another state in a few years. Should I continue to pay extra on my mortgage I have now. Or start to save more for the house we will be buying later?

[@tay-tay5629]

Thx David

[@jasonjosephlee]

House hack and buy your first rental property, add value to the properties you buy and keep buying in markets that appreciate.

[@xabiergarcia4685]

Hello Ramsey great fan i started my Money Make over in November this year my question is I know crypto is a crazy area to invest in but what do you think about stable coins, there are a lot of them giving crazy % on interest should i put my Emergency Fund in one of does like USDC stable coin that gives 8% interest and also i can withdraw it whenever i have an emergency?

[@kimberlyturner820]

4 years he's a millionaire?😳 This gives me hope.

[@razojacqueline]

If he became a millionaire in 4 years and he started at zero that means he invested over 20,000 per month. Wow!

[@mitshua]

He probably had other assets before. He just decided he should go fully debt free 4 years ago

[@TonyCox1351]

This call was at the peak of real estate prices after a massive boom. So he could have bought a $500,000 house a few years earlier, and now it’s worth a million, as well as a huge bull run of the S&P500 where his investments could have doubled. Still a huge accomplishment and he had to do tons of saving to accomplish this feat. But don’t think he saved up 1 million cash

[@evalangley3985]

It is better to get your mortgage sooner, and froze in time that debt. You are better off getting the property right away if you can afford it, then just waiting 3-5 years and saving. If they don't, money is going to play against them. Inflation will play against them. If you have a 20+% down payment and your house is in order, you should not even bother and just move right away.

[@robsorbo]

Now that HYSAs are getting 4+%, would you use that to save for a house? Or still mutual funds?

[@MrDernagon]

This is what I would suggest. HYSA at 4+% is close to the 20 year average return on mutual funds without the risk.

[@snagboi]

I took this approach and down 35% in 1 yr. My house money 😭😭😭😭

[@DeBee-dc9ce]

What happened? Because of the current 2023 downturn. It will probably go back up at some point.

[@zackarystewart9214]

​​@@DeBee-dc9ceiquidity left the market. This market runs on the release of fiat currency. The more currency put out in M2 money supply, the higher the prices of assets go. The more that money chases debt, the lower asset prices. Learn about central banking and you won't lose 35% of your net worth

[@AnnMitt]

What to do with cash savings when you need it within 3 - 5 years in a common dilemma. That's my situation.

[@deanalbertson7203]

Stocks are near all time highs, and will likely correct at some point, so the safe thing would seem to be a money market.

[@Nite_coder]

BTC

[@l4k3]

@@Nite_coder not sure about the btc. 5 years i would say yes. 3 years, its a maybe.

[@timjbrasfield]

High Yield Savings Account

[@MuzixMaker]

They must have delivered a lot of pizzas.

[@drunclecookie216]

🤣😂🤣

[@barbieblue3336]

Rice and beans pizzas

[@ricksanchezsflask8794]

Yes and got one very good tip.

[@steviejd5803]

Thanks Dave for this one. I have £24500 left to pay on my mortgage, I have £17000 in my savings account. Some of that is my emergency fund. Should I go ahead and pay down the mortgage with that money or keep it for a rainy day fund? I do want to see my mortgage shrink that I’m not sure I can think straight anymore. Thanks.

[@rbrucerye]

Keep 1000 pounds plus 3 to 6 months in expenses worth in the savings account and put the remainder into the mortgage

[@steviejd5803]

@@redfox435cat so glad to hear you are ok and got through it. Yes I think you are right. Pay down but be careful too. All the best.

[@steviejd5803]

@@rbrucerye Thank you for your reply. Most agree with you, keep the expenses for life’s little problems, throw the rest at the mortgage. Cheers.

[@welm98]

I was just in this exact situation this year around March. Look carefully at what you actually need for expenses in your emergency fund (only real expenses). Be ruthless on this point. If you have any funds to spare after your review, put that towards the mortgage. But DO NOT touch the remainder of the emergency fund. With so little left on the mortgage it is tempting to just be free of it, but be patient. You're in this position for a reason. You've been disciplined and made good decisions. Keep on track and you will have peace as you continue to payoff the house. If you empty out your emergency fund, you will cause yourself needless worried days/nights. Better to have patience and peace.

[@steviejd5803]

@@welm98 hey thanks, what a great answer. I really appreciate your time and comments. I will undertake a strict review this evening. My job is settled as can be so maybe just a little patient as you say and I’ll be done. I just can’t wait. And the best part, I’ll be £600 a month better off. Probs invest the lot each month. Cheers.

[@stefaniadellarovere6488]

When we're talking about 1-3 years I would use a high yield savings account. I wouldn't invest it

[@superblump87]

Park it in VTI.

[@TonyCox1351]

VTI dropped significantly right after this call, perfect example of why you don’t put short term savings into equities

[@ccampbells83]

Watching this video even though I have a house and am not saving for another 🤣

[@arlettezambrano3894]

Do the baby steps also work for those of us who are still renting and havent bought our own home yet?

[@mkirules]

Government bonds are paying 4.5% right now. That's where I have parked my house money since we plan on buying in one year

[@Mind_Breach]

What about something like a contract savings account?

[@imdoc7872]

I would just contine 15-20% towards investing and the rest in a high yield money market account.

[@andylevra2452]

Dave, Is the current rate for High Yield Savings Accounts around 5%?

[@jambo2853]

I cant believe how low interest rates are in the US compared to South Africa

[@saulgoodman2018]

Even if he stops retirement, in 25 years, in will grow to 8 million.

[@LowOutput]

Good point, Jimmy McGill!

[@robloxvids2233]

Seriosly, who needs that much when they are 60? They want a nicer house now. Cease retirement.

[@GeneralSirDouglasMcA]

I’m currently just letting my money accumulate in my checking account in order to save for buying a home (save 15% for Roth ). Is this ok?

[@ddyoder]

Gotta favor T-Bills in this environment. Not only 5%+ return and can just do 4-week/8-week/13-week/17-week ladders, but unlike CDs that charge state and local taxes -PLUS federal, T-Bill yields are exempt from state and local taxes. It's really easy to setup at TreasuryDirect and there are tons of KZbin channels out there which show you how to do it step-by-step (e.g. Diamond Nestegg)

[@nolehughes9312]

You guys said a half% two years ago for a high yield savings account now they are at 5 1/4 beautiful

[@harrychufan]

Put it in I bonds.

[@MrOfficer235]

I would stay in your current home and throw huge chunks of money into the market. Houses are a dime a dozen

[@notureaveragemiss]

Another option would be to wait another year or two if it lost money in year 3

[@sayalibonde]

whats a money market?????

[@thegentlemandrummer8753]

5:17 can someone explain what he means here at the end when he says he would just park it in money markets? What exactly is that?

[@KP-uz3nk]

I think its like a savings account

[@warlockman-ri2jr]

A money market account is just an investment account at a brokerage like vanguard or fidelity typically they have a slightly higher interest rate than savings accounts do the more akin to like an online savings

[@MarcusCastMaster]

Why not save it in the retirement account and when time comes to buy the house, withdraw your contributions? Are contributions not penalized

[@damondiehl5637]

If it is a Roth account.

[@parkersmith4621]

How is gold on the same level of risk/volatility as bitcoin or beany babies? Gold is one of the most stable and historically solid investments. Some people see it as more of a hedge than an investment but still it's not risky by any means c'mon Dave

[@jackmack276]

Current high yeild savings is 4.5% - 5%. Im parking my savings in my HYS for now.

[@mattcollins4550]

Inflation is running over 10% right now lol

[@sami-9233]

My thought exactly

[@rickhaithcox7024]

What about T-Bills?

[@alonsoortigoza6058]

High yield CD!

[@evohock]

Did they say a high-yield savings account will be a half of a percent?

[@noopz8035]

Defi crypto stable yeild farming

[@anthonyn.3575]

“Net worth” - Does that include all assets such as a paid off home.? And does that also include the current balance in your investments and retirement find(s)?

[@thereelaccountant9246]

Yes. It includes retirement, investments, and your home value, etc

[@anthonyn.3575]

@@thereelaccountant9246 - Cool, thanks !!!

[@MinkieWinkle]

The value of all your savings, assets. Minus all your debt. So 100k house, 300k retirement. But 50k of debt. So 100 plus 300 is 400. minus 50. Networth is 350k as a simplified example.

[@robloxvids2233]

Assets minus liabilities. An asset is something that holds future value. If you have an ash tray worth 50 cents that's an asset and thus part of your net worth.

[@dennisswanberg1718]

High yield savings account are paying 5% interest

[@ginoturano6821]

Brag call

[@smileychess]

Did you really say that a high yield savings account will return 0.5%? You must not have checked on this in YEARS. I’m getting 4.15% on money that’s just sitting in the bank.

[@pigskinrode0]

To save that much, you would have to be making 6 figures. I'm very happy for this guy and his family. Sadly, it's too late for me at 42, but I'm going make baby steps to get my first home. Made some poor choices in my younger years staying in unhealthy relationships and putting so much investment into them that I didn't take care of my dreams and career good enough. I hold myself accountable and will do my best to get to where I'm happier.

[@GuitarGuy650]

You're 25 years away from the average retirement age. It's not too late to turn your life around.

[@hisaddle]

Right now Credit Unions are paying 5% for 6 to 12 months certificate

[@gingersmedia]

Oh how times have changed when it comes to high yield savings. Accounts with ally, PayPal, capital one, and wealthfront for example are 4-5% annual return right now. Literally zero risk, pretty incredible stuff. Sure these will go up and down with inflation, but if we’re gonna be stuck in the world of $4 a gallon gas and $12 eggs, you may as well get a couple extra percent on your liquid savings.

[@hammypie]

What’s the max I should put in one HYSA before I open a second HYSA?

[@gingersmedia]

@@hammypie as far as I'm aware, the only reason you'd want/need a second one is if you're going to exceed the insured limit of the account or if one account doesn't meet your needs from withdrawal limits or something of that nature. The rules of diversity dont really apply to HYSA as they do for an investment portfolio. As the Ramsey peeps say, its just a fancy parking spot for you money, mostly to just help it grow with inflation so that its not worth *less* than before.

[@danferritto1]

Voyager Digital: 9% to store in USDC Coin. Yes, 9%.

[@goofin6360]

Why did he not mention bonds, very obvious option

[@claireluckensmeyer7489]

My high yield acct is paying 5.35% right now

[@DjCppsNews2012]

If I were him I would slide at least some portion of that into anchor protocol. NFA ofc but Terra and it’s ecosystem are going to change the lives of many when they realize its potential. Hopefully down the line I can look back at this comment and see how early this point of time was 🙌🏿

[@EvanGillogley]

Ooof 😢

[@jamesmir89]

Haha

[@TysonFSteward]

Terra definitely changed some lives haha

[@paulbrian101]

This aged beautifully lol

[@finallybeingfrank9149]

Why isn’t the suggestion to put some into a CD or Money Market? Wouldn’t that be a better way to make sure it’s safe, but still grow? Can someone explain?

[@noahkyurem]

These accounts don't tend to beat inflation, the stock market usually does over a 5 year period

[@Sonofawildanimal4241]

But yes it’s a great idea and makes your money accessible

[@damondiehl5637]

At the very end Dave said to put the money in a money market account.

[@kalebd9601]

Not a millionaire now with that market crash lol

[@luckylarue7885]

Half a percent? You can get 4% at sofi

[@MrNGTfan123]

You are losing money if you don’t put it in the market. Inflation was 6% this year. So effectively you lost 5.5% in purchasing power if you put that in a high yield savings account with a .5% rate.

[@JustinCase780]

That's looking in the mirror. Starting TODAY: The caller is wanting to save like crazy over a short term of a couple of years to save enough for a larger house. His bigger question was if he should stop contributing 15% towards the retirement during this short time frame.

[@DurninTv]

I would be more worried about what Vader will do to you if you don’t catch the rebels

[@ThatGuyOnYoutube2]

What if he put it all in 2 weeks ago, hed be way down today. Its short term to buy a house, not needed to retire. Listen to the video

[@MrNGTfan123]

@@JustinCase780 inflation is going to continue to be high any person with half a brain could figure that out. The fed is still printing billions of dollars a day. Cash is trash 🗑

[@marcenelj]

Just putting in the market doesn't automatically means you will gain on it. Look what's been happening to the market the last 3 days because of the new covid variant

[@davemal15]

He basically told you he has no clue what you should do. Do not put it in money markets. Call someone that knows what they are doing.

[@spcysos]

High yield is paying 4% right now…

[@CS-bk6tn]

Caller: I just paid off my house! Dave: Whats your household income

[@wastelanddan7388]

Caller: I just paid off my house. Dave: Sell the house.

[@masonhales]

Gold.

[@sweatequity7160]

Good luck saving into a money market for a house that is appreciating at over 20% per year.

[@rickdunn3883]

Bad advice: don't "play" the market ever-especially for 1-3 years. If your'e marginal tax bracket is 22% or higher..you might.consider something like 70% in VTMFX the balance in a MM fund. Expect MM Funds to go down in 2024-26. You don't need an advisor-you can do this and save the fees. "Money Doesn't Grow on Fees."

[@tkdevlop]

You are not playing Bitcoin 😂

[@mrbaboy]

Where are the callers who are still struggling and only have $30000 saved?

[@pyrogun1839]

Treasury Series I Savings Bonds!

[@tdaveniii]

The calculus gets more complicated with today's inflation. It's one thing to park $$ in savings when inflation is 2%, it's entirely a different thing when it is 6+%.

[@user-tb7rn1il3q]

BBB is dead, inflation will ease. If the stock market tanks, housing will go with it. I’d probably hedge bets and put half in a money market and the other in conservative stock mutual funds. The housing market isn’t doing as well as people think it is. Population growth is stalling.

[@robloxvids2233]

I bonds pay 7.12%

[@user-tb7rn1il3q]

@@robloxvids2233 I buy I Bonds as well.

[@gregoryreinert9629]

Gold is not a win all lose all, I know he doesn’t like gold but it’s strange he would lump it in with Bitcoin and roulette.

[@ryebread447]

Yeah on 4 years... means they had a massive start from jump.

[@Kuwandi]

I’m going to say that the caller doesn’t now have $750 k in his retirement …..on 9/29/22. But if hypothetically he pat=rked his money in the safe parking space “ where should “ he have parked it, now in “. RETROSPECT’” …comments ?

[@KamikazeCash]

This dude was just here to flex.

[@sirhenrystalwart8303]

I'm becoming increasingly skeptical of this idea that you should save up enough money to pay in cash. I started saving after grad school 4 years ago. I've hit 400k in savings. Four years ago, that would have been enough to pay cash. But the inflation in home prices is so bad, they go up faster than I can save. Now I need 800k. If I wait another four years, I'm going to need 1.6 million if things keep going like this. It would have been much wiser to ignore Dave and take a loan out 4 years ago.

[@SenorJoeBiden]

You’re buying a house entirely in cash?

[@sirhenrystalwart8303]

@@SenorJoeBiden Isn't NO DEBT the Dave Ramsey way?

[@themaddendynasty5099]

You’re correct. Dave’s opinion that you should buy a house in cash is completely out of touch. People will never be able to save more than the appreciation rate of the house. That method may have worked a long time ago, but it is nearly impossible to do so today.

[@Mayflower018]

Dave actually advocates saving 20% down payment then taking a 15 year fixed and paying it off early. The main thing is that the total monthly payment (mortgage+ taxes+ fees) does not exceed 25% of your income, so it may require a bigger down payment. But yeah, taking a loan for a home is about the only debt Dave won't yell at you for

[@jermaineishmael7225]

You're a fool Ramsey is not for you 😊

[@kevins5268]

High yield savings

[@Steph1]

Imagine he put it all in NVIDIA 💰

[@LukeofAllTrades.]

Probably better to put it in the market, and then in 2 years if it's down, wait another year for it to recover.

[@ClaxtonBay123]

And if it’s down the following year then what? Money has no business being in the market that short term If you can’t afford to lose any

[@LukeofAllTrades.]

@@ClaxtonBay123 Wait another year, 2 years is most often enough for the market to recover. But you're right, if you absolutely must have the money 2 years from now, the market is not a safe way to do it.

[@vcash1112]

Mutual funds charge high fees...👎

[@Anthony-zw1qb]

Having A baby on the way in 7months, I’m just trying to stock like cash in a Treasury money market fund

[@robertjohnson4401]

Again, typically bad advice here. The caller said he paid off his house. With his $1.2M net worth and $750k in retirement, he has $450k in equity in the house. When he sells the house, he can use the proceeds to purchase the next house. If he puts $350k down on the purchase of a house on sale of existing house, he can purchase up to a $1.75M house and put down at least the required 20%.

[@samlee1546]

Sometimes you gotta think that most people live their lives to buy a bigger box to live in.....

[@VintageStereoCollector]

But a…I still have big debt lol 😆

[@WookieSenshi]

Just put it in a high yield savings. I have my cash in Kabbage (which is owned by Amex), and currently they give 1.10%. Which is higher than anywhere I've seen recently.

[@musicpro7278]

1.10% sounds fake ima do some research on that

[@musicpro7278]

Real but it's just for businesses. I didn't see anything about savings

[@Ratkill9000]

I'm getting 2% APY on my savings account.

[@dec1slh]

@@Ratkill9000 where?

[@EvanGillogley]

It’s like 4-5 percent now 😅

[@josephmartinez8166]

I really like that guy that's next to Ramsey. Seems genuine and sincere.

[@gangaadhikari9491]

Inflation is 3% Mortgage is 2.5% Yet Dave Ramsey still says pay it off early 😂

[@rickyayy]

Inflation is closer to 7-8%

[@thespiritsafe]

I think in his position I’d take a mortgage for the $150k on open terms, with the aim of paying it off within a few years.