Why Invest Only 15% of My Income If I Can Do More?

[@philipfletch]

"Investments are the roots of financial security; the deeper they grow, the stronger your future will be."

[@RoseGuerra7862]

The deeper your investment roots, the stronger your financial security will be in the future.

[@martinheaway]

Exactly! With my adviser, I’ve cultivated deep investment roots, strengthening my financial security for the future.

[@JaneClark7861]

I would love an introduction to an adviser who can help me strengthen my financial roots.

[@JaneClark7861]

Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.

[@bobbyjoalfonso3949]

until Americas debt gets so high that the interest on the debt is more than the government cant afford lol. Its compounding debt now. That's when you see stock market get wiped.

[@persistenceovision]

This dude could read ingredients off a box of fruity pebbles and it would sound like AMAZING food.

[@ashyelbos]

Lol

[@benromney9279]

I feel like you might not appreciate how amazing fruity pebbles actually are... ;)

[@vishistsaini3623]

The bass in that guy voice 🤯🤯

[@Babugee9]

He's been fired

[@navymed3]

@@Babugee9 what why?!

[@kisong1960]

@@navymed3 slept with a coworker

[@makers721]

@@kisong1960 not a co-worker, but infidelity

[@mr260z3]

@@Babugee9 yep cheated on his wife. Somehow he kept his job for a little while, but has since been fired.

[@AnnBurrow-vb8tt]

A wise saying about investing according to my Friend who is a CFA is to be Patient and Think Long-Term. She said, “The stock market is a device to transfer money from the impatient to the patient.”

[@BEAUTIFULDIANAFRANCIS]

You are right! A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $110k and in the first 2 months, my portfolio was reading $294,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over 8 years we have been working together making consistent profit with good relationship understanding.

[@LeslieWagenheim]

I own some shitcoins and I would like to switch those to nvidia stocks. Ofcourse the price is crazy booming right now, didn't dared to buy the stock when it was sub 6/700.Since split is incoming, I've seen news all over the internet right now. Could this be one of the last trains to hop on for Nvidia? And investing, I mean longterm investing. Few years atleast.I know no one can predict the market, so I'm mostly curious about your thoughts on my take.

[@BraxtonScott452]

A financial advisor can help you determine if stock investing is a good fit for your financial goals and can help you develop a strategy. They can also help you consider your risk tolerance, liquidity needs, and short- and long-term goals. Consulting a financial advisor can be especially helpful if you're new to buying and selling individual stocks. You can also ask your advisor questions about reinvesting your dividends

[@BEAUTIFULDIANAFRANCIS]

we had invested in stock through Cynthia McClure Alexander for nearly 8 years as our broker. The market had its ups and downs, but in the long run it did very well for us. With my pension, social security, and investments we can live comfortably. We are now able to fully enjoy our hobbies, travel, family, and making new acquaintances.

[@farhanansari6135]

Your friend is Warren Buffet?

[@arthurkorff]

dave ramsey playlist is my at home background music

[@ElainesDomain]

HAHAHAHAHA. Good one. Subconscious learning.

[@DJiMike1]

Same

[@perreira831]

Smart Man!!!

[@mind.health7834]

Better than caffeine in the morning

[@Ibeatuphomelesspeople]

🤣

[@Raymondcraw1967RaymondCrawley]

I’m 57 . If I had $360k I would invest $100k in tech & $260k into dividend stock with a proven track record to grow with capital appreciation & dividend increase year over year

[@FaithAndrada-xo9ou]

The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner

[@johnlennon232]

The best market strategy is to work with a credible investing coach. Since a while ago, I've been in touch with a coach, mostly because I lack the depth of understanding and mental toughness to deal with the ongoing market conditions. You lack the information necessary to succeed in a competitive market, not because you're doing anything wrong, but rather because of your lack of experience.

[@jameswood9772]

Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.

[@jameswood9772]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@marius7806]

Scam 👆

[@Brian-hd4rb]

people finance a car that is 20-40% of their income, of course you can invest over 15% of your income

[@AnnabelleC888]

Perfect example.

[@johnantoine1477]

Wow!

[@jimroscovius]

You can, but get the house paid off.

[@thatredcam]

Couldn’t have said it better

[@Brian-hd4rb]

Jim Roscovius I agree

[@Neddie2k]

Someone who never had an emergency fund is now complaining about having a $1000 emergency fund, You forgot you didn't have a $1000 before you started this plan.

[@Inshape2]

Exactly!! I read posts complaining about the $1000 not being enough all of the time and I want to ask them so bad... what did you have before???

[@MrsThollo]

@@Inshape2 Exactly. 😭

[@rachelroelands9928]

Most of those people have a few thousand in savings while they have tens of thousands in debt. Ramsay's plan gets people to realize how broke they really are

[@StoneVicarious]

@@rachelroelands9928 Debt-to-Income ratio. That’s a real measurement of somebody’s true financial status.

[@chef_rg.2]

Well said

[@eriksavini691]

Depends on your goals and timeline. If you are interested in financial freedom before retirement, you should be targeting 40%. I lived like I was broke for many years and was investing around 85% of my income which lead me to become a millionaire by my mid thirties.

[@mikemontana1990]

That’s unreal man. My wife and I did the same, lived like we were broke and lived in a basement suite for Cheap rent until we were 29. We just cracked a million in assets and savings/investments at the ages of 31. Feels good!

[@eriksavini691]

@@mikemontana1990 Congrats!! I'm always inspired by others success stories. I wish you continued success.

[@joshuas3897]

Congrats! I love the positivity here!

[@justducky8508]

What age did you start your financial journey ?

[@ellasoes8325]

That worked for you and that's good. Dave's plan is more likely to work for a wider breadth of people.

[@Walteralexander1]

No debt and single. I can afford to aggressively invest right now! I plan on focusing on investing in my 20s.

[@ERprepper]

How old are you? It’s not a bad idea, but don’t waste your prime preparing for your feeble years. Don’t be neglectful of your future and retirement, but definitely don’t neglect to enjoy some of your money and time.

[@mso008]

smash it bruva!

[@samdenham5991]

Its the way to go, invest and make sacrifices when you are young and able to work hard. Spend your 20s working hard and start to ease back in your 30s and 40s until retirement so you can reap the rewards.

[@kCI251]

@@Walteralexander1 Just be sure you get a prenuptial agreement so your wife doesn't take half of your retirement when she leaves you for someone else.

[@Sweetie505]

@@kCI251 Geeeez ouch lol 😆

[@markg999]

15% should be the minimum.

[@drevil5546]

Yes, but people calling into a show asking for financial advice, usually don't have the best grip on their money. You don't hear any type of person like Warren Buffet calling into these shows. These types of shows are more of a "lets start to dig you out of the deep hole" situation with easy stepping stones. $1,000 is NEVER enough for an emergency fund, but it IS a small attainable stepping stone that someone can focus on while digging themselves out of a hole. The ladder to financial security may be 950 steps, but if someone cant see the first step of that ladder to get themselves out of their hole, they will never start.

[@matts9728]

I agree. We had a lot of excess income and invested 80%+ of our income for the last 7 years. We now have over $2 million and are financially independent at age 35. It's just a math equation, the more you invest, the faster you go. But to each their own, it would have been demoralizing for me to have to pull back, only invest 15%, and wait for 30 years.

[@Tehui1974]

@@matts9728 Were you paying a mortgage, rent, or living somewhere for free?

[@matts9728]

@@Tehui1974 Paying a mortgage. We purchased well within our means 8 years ago, so it was a fair price with a good interest rate.

[@Tehui1974]

@@matts9728 You owned a house freehold at age 27?

[@coltenmiles8303]

I really like this video I have worried about the 1000$ emergency fund and the way y'all addressed it is spot on thanks

[@lawerencemiller9720]

Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?

[@alexyoung3126]

as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management

[@williamyejun8508]

Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.

[@jessicamoore3093]

this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future

[@jessicamoore3093]

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

[@GurpreetSingh-et8ix]

It really depends on your situation. My wife and I are currently in a home here in the Bay Area, but not necessarily in the best school district. We want to upgrade to a better house in a better school district. So it doesn't make sense for us to pay more than the minimum mortgage payments on this house. It allows us to save up for another house in the near future. Maybe we'll sell this house or maybe we'll keep it, that determinination will be made in the near future. All my friends do this: have a 6 month emergency fund, then max out 401k, then invest in mutual funds/ETFs/stocks.

[@MaximilianFischer497]

Trump's policies had been viewed by many experts as more positive for the financials sector, spurring this massive rally. It's enticing to consider purchasing some cryptos and stocks, I'm contemplating investing more than $300k. Thoughts?

[@TicheDebb0]

The fin market and crypto market might be broad and complicated, but if you do know what you’re doing, mit can also be very rewarding,.

[@RowanBryson]

It can also be very bad, I lost a lot trying it all by myself stock picking and selection and my portfolio on red, about nighteen months ago I got with A professional FA, I’ve now seen my $190k startup close to 2million in dividends. Without doubt professionalism is unmatched.

[@MarshalWagner457]

That’s a good amount for that time frame, can you say on who your adviser if you don’t mind.

[@RowanBryson]

My CFA “Diana Casteel Lynch”, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@AshleySommerset808]

I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you.

[@jfcustomfab]

We invest 70% minus taxes and insurance.. we are 42 and millionaires.. house paid for, college paid for, zero debt .. We invest my wife’s entire salary .. minus taxes and insurance.. and 20% of my salary .. we live off only my salary ✌️

[@biancajingles2690]

That is so awesome! Congratulations, you guys are winning at life! ☺️

[@jfcustomfab]

@@biancajingles2690 thanks .. I’m not saying it’s easy but it will be worth it in 10 years .. 😅

[@Semajayy]

Can I hold some?

[@holdenmoreland3119]

That’s awesome! What do y’all do and what are your incomes?

[@jfcustomfab]

@@holdenmoreland3119 combined 200k ..

[@ChrisMFlorida]

I do about 38%, but house is paid and I have no debt.

[@Michael-ye9xm]

If I’m younger should I be putting more in my retirement fund or saving to buy a house?

[@aisherwasher6959]

@yankeecandle unless you plan on buying a house soon (like in less than 5 years or something). Then it's safer to keep the money in savings

[@harsimranbansal5355]

@@Michael-ye9xm dump it in your retirement. You want a lot of money in retirement early on so it compounds. Even 1 year makes a big difference of a few million in 40 years. Invest first, then buy a house, all while living below your means. Every dollar you can save put it in investments.

[@Triniboi05]

Yeah 33% for me but no intentions of getting a house any time soon and no consumer debt.

[@lionheart93]

@@aisherwasher6959 😂

[@Dr_Diaz]

This guy's voice is deeper than my whole bank account

[@La_sagne]

and meanwhile his bank account is still deeper than the voice of every singer out there

[@jimwerther]

But now he's out of a job and a wife

[@TheSAD999]

Voice of an angel

[@Dr_Diaz]

@@jimwerther what happened to him?

[@jimwerther]

@@Dr_Diaz He cheated on his wife with the wife of a colleague. That violates Dave Ramsey's rules, and he was let go.

[@trazzpalmer3199]

I recently sold some of my long-term positions and am now sitting on around $250k; do you think Nvidia is a decent buy right now, or have I missed out on a critical buying period? Any solid stock recommendations on fantastic performing stocks would be greatly appreciated.

[@JenniferDavis7630]

Personally, I would say have a mentor. Not sure where you will get an experienced one, but if your knowledge of the market is limited, it seems like a good bet.

[@RobertBrown..]

Some individuals minimize the importance of counsel until they make regrettable mistakes. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.

[@danieltaylor--65]

This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@RobertBrown..]

Finding financial advisors like Kenna Muriel Hesseling, who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@SarahTaylor_]

I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip

[@Kmanjr0]

Had the bass turned up and my head started rattling

[@martinskamla6789]

I invest 80% and regret nothing

[@jeremytheoneofdestiny8691]

I invest 110% of my income into credit cards 🙌

[@milkncookie]

Mortgage pay down vs retirement investment. You're an adult! Do what you guys want... Dave taught you how to get out of debt already, the rest is up to you. His steps are a guideline, follow it or change it, but don't need to argue with Dave about it.

[@alexc5369]

He has even said that once you become a chef, you can tinker with the recipe

[@chalimi.fithratu]

Hahaha exactly 😂

[@AlexanderWebster_]

@@alexc5369 mostly agree. The only thing I would say don’t mess with is debt. You don’t want to ow somebody 3% interest for the rest of your life. Doesn’t matter if you’re making 10% in stocks. Stocks are taxable income and don’t give you the stability of owning your own home and being out of debt.

[@SKBottom]

Some of us question or debate as a way to gain deeper understanding.

[@m0ose0909]

There is nothing to argue about, he's wrong. It's basic math. If you have a low interest rate, over a long period it's worse to pay off your mortgage than to invest. The only reasons to pay early is if you don't have the discipline to invest the saved money or for the emotional feeling of being free of mortgage.

[@Amelia-Elizabeth]

Nobody can become financially successful over night. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals.

[@Patricia-Margaret]

@AustinWalker67 This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant by name Bridget Mary Turow and everything changed. I started enjoying huge returns from my investment.

[@Patricia-Margaret]

@AustinWalker67 Bridget Mary Turow , lookup with her name online.

[@Susanne-zuku]

@AustinWalker67 Bridget Mary Turow her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy

[@bobdole870]

THIS IS A SCAM THREAD- DO NOT CONTACT THIS PERSON 🚨🚨🚨 THEY WILL STEAL YOUR MONEY!

[@callmeishmaelk767]

The compound growth also works on the mortgage, the more you pay down the mortgage, the more of the mortgage payment goes towards paying the loan part of the mortgage and less towards money getting flushed down the toilet on interest.

[@TS1023TS]

I hope you see all the positive you have done for people Dave! There will always be ungrateful and jealous people. Thanks for helping us out.

[@JM.TheComposer]

Having listened to the Dave Ramsey show for 11 years now, this is a rare discussion that isn't a repeat, like 99% of the questions that have been asked before.

[@genxx2724]

That’s the level of person he helps.

[@sidwhiting665]

Yep, just like people get sick every year, requiring doctors to perform the same operation, people mess up with money every year and have to follow the same advice. . I'm guessing here, but I would say that 99.8% of our lives are repeats of lives that came before us. Each generation has to learn a significant portion of what the past generation already knew before they can start charting new territory.

[@Godios1]

I’m 19 and in the Air Force. Because my housing, food, and medical insurance is paid for by military (and no debt), literally the only things I need to worry about is my internet bill , data bill, and car insurance which all add up to about 300 a month. I only keep around 2k in my bank account and invest the rest which I guess is around 75% of my pay check. The reason I don’t have much money in my checking is because I don’t have many emergency obligations. I don’t need to worry about losing my job or about supporting a wife and kids. I am extremely blessed and thankful for the position that I am in, unlike many of my friends who didn’t put much thought into where their money was going. I know many of your circumstances are drastically different than mine, but being financially free for most people really just requires a little bit of prudence and self discipline.

[@NicholleWillisLoves]

That is a really amazing position to be in!

[@BobLee3574]

@@NicholleWillisLoves thank you! What does your position look like?

[@Ben-yw8be]

I invest 20-25% of my gross income each year. 15% is too low in my opinion especially pensions are harder to come by and not many people have employer matching.

[@DallinBunnell]

I've been on an aggressive debt paydown path, and recently i needed to get a new Catalytic converter for my car. It was very discouraging. I'll be fine and we have the savings, but those things do feel like a roadblock to your momentum

[@grantcanty7294]

keep at it!

[@bearnecessiteespolio5359]

Not sure of they have "HyperJar" in the U.S. but here in the U.K. I use HyperJar as a kind of second bank account because it allows me to put a little bit of money into loads of different "jars" which is great for these "unforeseen" emergencies. So for example I have a jar that I put £40 per month into for unforeseen car repairs, and a bunch of other "jars" that allow me to squirrelly away for these type of expenses. One is called "health" in case I suddenly need new glasses or an something, and another is for "household" in case I need to pay a plumber or buy a new washing machine.

[@HarrisRyan-oy8eo]

My strategy has always been to invest 25% of my income in the stock market at the beginning of each month. The second part of my strategy is not to sell for at least 5 years, but recently my portfolio has suffered major decline about $150k in losses. What can I do please?

[@Theresaa12]

Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions. which may reduce your dividend gains or income, speaking to a certified market strategist can help with pointers

[@BenTodd-fl8nv]

Agreed. It's always wise to be proactive and consider diversifying our investments to manage risks in uncertain economic times. I delegate my day-to-day investing to an advisor ever since suffering a major steep-down late 2019, amid rona-outbreak, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments

[@Debbie.Burton]

I’m glad I found this conversation. My risk tolerance is high, and I want to take advantage of the market run. Can you direct me to your advisor?

[@BenTodd-fl8nv]

*Marissa Lynn Babula* is the licensed CFP I use and im just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.

[@A_francis]

I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.

[@JML1987]

Started at 40k debt 2 years ago. Down to 19k now and got a substantial pay raise recently and sold my stupid car decision and got into another older vehicle 1/3 of the value I originally had (but ironically I like more). Expect to be debt free this year for the first time in 14 years. Work the plan, people!

[@sophiesto6122]

Congrats!

[@scrapthatwithmatt9520]

Congrats 🍾

[@Lalo_Runs]

You like that older car more because it’s the reason you have 300-500 dollars more in your pocket each month 👌🏾👌🏾

[@5amjack999]

The plan really works.. congrats!

[@joey9511]

Nothing makes driving your car more enjoyable then knowing you could total it and just go out and just buy another one cash.

[@jrus690]

You can put whatever percentage you want into investing, Dave and others are just giving a number as a baseline. When you are increasing the money load in the bank, you can more or less spend and invest whatever you want on everything.

[@BernadetteTeachesMusic]

The comment Dave made about the Brooke college professor,.. I decided to finish paying off my student loans because one of my college professors was still paying off Joe student loans. That scared me straight.

[@jesusbarajas9444]

Broke*

[@lenny108]

this madness is unknown in Europe. People pay tax their whole life while working. Why one should pay for college when getting educated in order to work for a tax-payer job? Formerly going to college was a guarantee to earn lots of money for the whole life. Nowadays without having a college degree you hardly find a well-paid job. Actually, many do not even find a job when having passed university. So de facto university degree has not much meaning anymore.

[@rrrrrfffff]

Similar experience for me - a coworker in his late 40s who made a comment "yep, still paying on my student loans. You have 'em for life" And he didn't even *graduate* college... 🤯 *THAT* scared me straight!

[@MrsThollo]

I love this...

[@bakem2]

Brooke??

[@Aziz__0]

I started investing in the stock market because of dividends. What matters, in my opinion, is that if you invest and earn more money in addition to dividends, you will be able to live off of dividends without selling. It implies that you can pass that on to your children, giving them a head start in life. I've invested over $600k in dividend stocks over the years; I continue to buy more today and will continue to do so until the price lowers even further.

[@AlbertGReene-p8w]

@Margaret I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over 1.5 million dollars working with an investment coach for more than two years.

[@billclinton-f8n]

@@AlbertGReene-p8w she actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you sharing

[@jaydenlabroski5593]

Good old scam chats 😂

[@RichyLucch]

@@jaydenlabroski5593 yup im getting tired of seeing these bot chats lmao

[@01happykat]

My first investment was also into a dividend stock at 14. At 34, I cashed out part of that investment to put towards the down payment of my house. Nearly all of my investments have done extremely well over the long haul. A few were duds, but I've come out on top too. Once able, I invested far more than 15% of my income. I don't do Dave's plan of paying off my house first. It's not that I don't think it's a good idea, but my plan has worked exceedingly well for me, probably because I had the saving and investing habit established long before I bought my home. But I think his argument is sound and logical for the general population.

[@scarpfish]

Everyone should play with a compounding interest calculator at least once in their lives to see the potential over time. I'd invest 75% of my income if I could.

[@altenberg-greifenstein]

I sometimes play the good old times game too, when interest on savings was as high as high risk investment is promising you now to manipulate you into giving them your money.

[@joesoccerfan4628]

Yes. Dave really doesn't answer the question as to why not to invest more than 15%. If I had to do it all over again from my 20s, I would have put in as much as I could.

[@AJohnson0325]

That’s what Shaquille O’Neal says…Invest 75% then the rest is for needs and wants.

[@mcgillagorilla196]

I think this is one of the best videos Ramsey Solutions has put out explaining the rationale and intent of the Baby Steps. Explained with grace and to great effect.

[@DennisJack-km8ho]

I've just begun learning about value investing, and I've found that many good stocks are undervalued despite their intrinsic value. If you had quarter of a million to create a strong portfolio, which stock would you choose for better returns?

[@LuvmeRos]

I believe a solid portfolio should include three key components: ETFs for diversification, dividend stocks for steady cash flow, and top tech stocks. Given your budget, it’s a smart move to consult a fiduciary advisor for professional guidance.

[@jose2212-]

Having an investment advisor is the best approach to the stock market right now. I was going solo without much success until my wife introduced me to an advisor. I've achieved over 80% capital growth this year, excluding dividends.

[@albacus2400BC]

Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.

[@jose2212-]

My CFA ’Amber Michelle Smith’ a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@RuthEvelyn-rc3bg]

I just checked her website, and I’m even more impressed! The range of financial strategies and resources she offers is amazing. I can see why so many people trust her with their investments-looking forward to working together!

[@robedmund9948]

Dang! There's a lot of criticism here, today. Everything Dave suggests is just that: A SUGGESTION. Those who follow his tenets tend to do well. Far too many people in America have little to no financial guidance. If something else works well for you, great for you! You're special. If you're lost and found Dave, consider yourself blessed to have a guide who can get you on the path to financial freedom.

[@gardenchums9625]

Right on! Dave gives sound advice.

[@jmpatch98]

Yes yes yes!!!

[@enricopallazzo3244]

And everybody’s situation is different. These are general rules that when applied are 1000X better than what the average person is doing.

[@clarifyingquestions]

Well said!

[@lukecoop2306]

Very true! And I think a lot of people forget that

[@5280Roadrunner]

Life is so much less stressful when emergencies happen and you have funds available to pay for the expense. Our furnace went out earlier this year, and yes it wasn’t ideal and it caused a bump in the road but because we had a rainy day fund we were able to pay for in cash and just move on with our life. It was an inconvenience not a major tragedy.

[@DeanBKK]

An inconvenience is not an emergency though.

[@susiem.2068]

​@@DeanBKKThat could have easily been an emergency if they didn't have the funds to pay for the furnace.

[@chrizze5062]

I’m 18, living with parents. Make about 550 a week but 450 after paying 100 a week for rent and other stuff. I throw in almost every dollar into stocks. Right now I’m up over $2.2k

[@pawnshifter6435]

congrats，same here，can't wait to get started

[@lucasmorris7885]

That's very good

[@lucasmorris7885]

So I I'll advise you to invest more on stock and make more profit to yourself

[@lukecoop2306]

Congrats!

[@Liljoozy]

keep that mindset as long as you can! you are setting yourself up for success

[@sorvoja]

I miss Chris Hogan, he was an amazing Ramsey personality.

[@CaraN-b8r]

Same

[@generalandmemeaccount3467]

He cheated on his wife, and Dave couldn't keep him employed at a Christian company with that knowledge. It's sad, but I think Dave made the right call.

[@TommyGunzzz]

Actually he hid it for over a year and has fired lower level employees for the same, which he's going through lawsuits.

[@texasboy5117]

After we paid the house off we saved 27% of our gross income for years. Now retired we spend big bucks traveling the world, spending most of the interest.

[@immaculatesquid]

hopefully youre still in good enough shape to enjoy it

[@texasboy5117]

@@immaculatesquid I think I have about three years of heavy travel before we slow down. We have been blessed!

[@sambros2]

@@texasboy5117 anyway since your retired you can now look after your health better and go to the gym

[@CaesarAugustus.]

I mean, you can always sell your investments, so it’s not really the same as becoming “house poor” or “car poor.”

[@RonJohn63]

Right. And you can reduce your monthly investments, too.

[@jessicabixler1658]

And you investment can tank.

[@15KHPCLUB]

Always diversify

[@MillionaireMindsetClub]

15% is a good start but not written in stone. 15% just happens to work well for most people.

[@k-mart7475]

Not for “most people” but for millionaires. 👍 Learn

[@AaAa-ri4uf]

@@k-mart7475 keep saying stuff like this and you will never have any money

[@AaAa-ri4uf]

@@k-mart7475 just keep watching cnn and worship Kamela Harris ok bud

[@ballista7367]

@@AaAa-ri4uf what's wrong with you

[@shawkins79]

@@ballista7367 drugs apparently. Seeing a problem that isn’t there.

[@xenakaifinancevideos8650]

I don’t think this is a bad “problem” to have. This isn’t even a problem. This person should feel lucky to be able to invest anything

[@stevenporter863]

Exactly

[@goncalo1485]

Lucky?

[@HeatproofGhost]

@@goncalo1485 She must be confused about how the baby steps work.. the point is to climb up them, not with luck but with persistence.

[@MrOfficer235]

I agree with my girl Xena.

[@clarifyingquestions]

But it was a good question and provided clarification . No one said it was a problem.

[@eduardojroque6190]

Because 15% is what you save with car insurance

[@chriscouey8594]

😂

[@JoshuaKerr-m4u]

There is obviously a compounding effect in the very long term for large capital, but is not "automatic", and with the wrong strategies you can even lose more than you have, and selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies.

[@DesireeJames-q1z]

I think a good investment portfolio should have three basic things: ETFs for diversification, dividend stocks for cash flow, and leading tech stocks. With your budget, it's a good idea to talk to a fiduciary financial advisor for expert advice.

[@Bako-b8j]

I fully agree with you. I also lost a lot of money when I first started investing on my own. Following the 2020 crash, I was able to withdraw almost $160,000. After working with an analyst to invest that money, I gained about $580,000 in just seven months. It's incredible how things can improve with the correct direction!

[@Bridget-l7p]

i'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?

[@Bako-b8j]

SHERRY DAWN CARRICO, a well-known authority in this field. I would recommend looking into her credentials more because she has a great deal of expertise and is a great resource for anybody looking for advice on how to navigate the financial market.

[@SarahTaylor_]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@fbhaze7446]

Dave and Chris compliment each other. Great chemistry.

[@thedaveramseyshow8260]

Thanks for commenting, I will refer you to my trade analyst and accountant to make good income, go more on digital assets

[@nowthatsurban]

They complement each other. Although, they may sometimes say something nice to each other as well.

[@lo1bo2]

@@nowthatsurban I compliment you on your clever comment.

[@Mr.Sag4cious]

@@thedaveramseyshow8260 fake channel

[@costco_pizza]

Wow! Can't believe the channel replied to you! They don't do that often.

[@pauleff3312]

Dave Ramsey, you really are such a decent man in the way you explained the "falling off the waggon" - Thank you for sharing your ideas with the rest of us

[@MichelleRheaWhitte]

Hello, I wish to start investing but i dont know where to begin. Any advice on how to invest my 200k cash savings?

[@Cochran-j5d]

Find the undervalued stocks to bring in a 50 percent annual return or consult with an expert to guide you.

[@SusanMarie-o9z]

Acquiring prospective assets with proper mkt direction will provide more returns than doing it all by yourself. Thankfully, I can attest to the success of this approach aided by professional guidance seeing my portfolio of $1.3m grow by 25% this year alone... maybe you should do the same.

[@VivianneLegault]

pls how can I reach this expert, I need some investment guidance

[@SusanMarie-o9z]

Victoria Louisa Saylor is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@SusanMarie-o9z]

Victoria Louisa Saylor is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@TeKnoVKNG23]

You absolutely should invest more than 15% if you are able to do so. I get that Dave is steadfast in his plan, but you can absolutely tailor it to your own situation, especially if you are playing catch up. There are people in their 30s-40s getting debt free with hardly anything in retirement, they need to be putting way more than 15% in.

[@alexc5369]

No point getting to retirement with a mortgage, agree with Dave 15% whilst knocking out the mortgage, then scale it up to suit

[@PN-ve9lf]

I feel that way too.

[@jay215215]

If u listen they saying u can do more than the 15% once your mortgage n stuff is paid off

[@robby95036]

@@alexc5369 yes but most people could take out a 30 year mortgage and have it paid off for retirement and the reduced cashflow to the mortgage means they could have been investing sooner (compounding growth!). Dave's advice is meant for people with no self control and locking money away in their home is the only thing that forces them to not take the money out or waste it.

[@susiem.2068]

​@@robby95036I wouldn't risk having a loan for longer than necessary. We're living through crazy times ! There's nothing to say that we won't live through another recession, another pandemic, that we won't loose our jobs, get sick or need to take care of a loved one that has gotten sick. I believe in reimbursing the loans (especially those without fixed rates) as fast as possible.

[@mind.health7834]

The most common thing I hear about is people losing their home despite having a good income. Being raised in Mexico, my mom always owned her home. We were very poor but never, ever homeless. God forbid,

[@teacherdavid--eatplaylearn5013]

smart move !👍 Blessings from Taiwan 🇹🇼😇🥰

[@mind.health7834]

@donald johnson Since that was my mom's house and I have been in the USA for 20+years, I have no idea. But that's a good question, I'll ask her next time I talk to her.

[@austacking5353]

@donald johnson it varies but quite low. typically well below 1%

[@orky2396]

@donald johnson it does vary depending on where you live, in my parents case, they own a home in a small town in Mexico and the property taxes for the year were under 300 pesos, which is about 15 US dollars 🥲

[@Ryan-ut3cg]

Food & shelter is essential

[@CaseyBurnsInvesting]

If you invest more you can always convert those investments back into cash to pay off the house. Either way, it’s a good problem to have.

[@josicava5204]

Excellent advice.👍

[@jeremiahmeade710]

No, you can't always convert those investments back into cash. Investments are another form of gambling, and, in gambling, sometimes you win and sometimes you lose. When you lose, you lose money, money which cannot then be converted to cash.

[@craw_daddy97]

@@jeremiahmeade710 Agreed. Unless you’re holding investments long term, liquidating those for cash is extremely risky in the short term.

[@schuylergeery-zink1923]

A 10 year early mortgage repayment, yes. But also you pay more in interest on the front end, so maybe it’s best to just pay off the house ASAP…

[@graywilliams_77.]

investment requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself.

[@susannicky]

how do I get in touch with the adviser i really need a help..

[@graywilliams_77.]

Thanks for the efforts you put in these. I found her and i leave her a message i await a response

[@captain4318]

Just put your money into an ETF?

[@parkadeigogaming9792]

Exactly, if you buy market portfolio (s&p500) you are literally maximizing risk to return payoff as you are directly on the capital market line and you are diversified, there's simply no better investment​@@captain4318

[@GSK4EVER]

I have a mortgage that beats inflation and an ADU with rental income that nearly covers the mortgage. I don’t like the idea of putting my extra money towards the mortgage vs stocks. That seems wrong.

[@damondiehl5637]

Psychology versus math. You sleep better at night knowing the house is paid for. Lots of bad can happen, but you are okay. Just like the turkey at the in-law's house on Thanksgiving tastes different if you owe them money.

[@gabriellekelly3462]

Oh, good question. I've often wondered this. Especially if you're on the older end, say 42 with 0 in retirement. I see that he is wanting the house paid off first before you invest more. But, we have like 3% interest on our mortgage and only 48k left with a plan to pay off in less than 10 years. I don't think it's a bad idea to do more and pay off mortgage early at the same time. You'll never get the years of compound interest back. Everyone's situation is different.

[@jordanj9116]

is your mortgage paid off yet?!

[@willelliott5052]

Ramsey's plan is very carefully crafted to account for psychology.

[@treeroofgrass]

oh wow! I’m gonna say that now.!

[@ar15tac]

To add to that his plan is all psychological. And that’s what makes it work peoples money problem is all in there habits.

[@andrews2438]

🤦‍♂️

[@meso281]

Yupp! I would like a break down like this for every babystep for some deep understanding.

[@hotmathsax]

Yes, it takes the emotion out of it so we dont feel excited or disappointed

[@MegatPage]

Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?

[@StocksWolf752]

Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.

[@EleanorBaker474]

On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then

[@DilaraKamelya]

My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.

[@EleanorBaker474]

Credits goes to " Sonya lee Mitchell" one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.

[@AK-47ISTHEWAY]

Sonya lee Mitchell steals money from senior citizens. She has a bench warrant issued for her arrest. DO NOT INVEST WITH HER!!! She is a scam artist.

[@JerryLuca-nm9ru55]

The best investment one can do right now is investing on real estate though stocks are good but ever since I swapped to real estate investment I've seen so much difference

[@LarryAnthony-ut8ok44]

There's a favourable profit in real estate investment, This will be the best time to invest based on current status.

[@JerryLuca-nm9ru55]

Jenny Pamogas Canaya is the licensed advisor I work with. Just research the name. You’d find available details to work with her and set up an appointment.

[@AK-47ISTHEWAY]

​@@JerryLuca-nm9ru55Jenny Pamogas Canaya steals money from senior citizens. She has a bench warrant issued for her arrest. DO NOT INVEST WITH HER!!! She is a scam artist.

[@Clorisluta]

I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?

[@LancEthan]

Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.

[@ShukriVikas]

Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.{

[@AgentGWG]

Begone bots

[@toptechtips9334]

Buy crypto, high risk high reward

[@ryans7972]

The question is how does this have 1.5k likes? This seems way to easy to eliminate at this point....@@AgentGWG

[@jnordman86]

That was a good talk, one thing about saving $1,000 while your managing debt is if you don't save $1,000 for just in case then you can't save $10,000 for an emergency fund either.

[@DanielPanuzi]

A Friend told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. is this a good way to potentially grow my retirement savings to about $3M over time?

[@albacus2400BC]

You need to create your own process, manage risk and stick to the plan, through thick or thin or you can just seek the help of a financial advisor.

[@NormanGhali]

Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for a while now mostly and I made over $800K within a short time

[@RickWatson-xu6gw]

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings

[@NormanGhali]

My advisor is *Sharon Louise Count* . She is easily searchable on the web and has extensive knowledge of the financial markets.

[@hannahjohnson7079]

A lot of these comments sound like spam. I don’t think you need a financial advisor. Read “Simple Path to Wealth” by JL Collins and you can do your own investing. Between Dave Ramsey and that book I feel like I know everything I need to know to build wealth.

[@Beansicus]

To the emergency fund bit: some friends of mine and I are working through the baby steps, we found $1500-$2000 to be a better spot purely because these days that's what rent costs in our area and worst case scenario you can buy yourself time if it really hits the fan.

[@skeptical_sorcerer]

I do 15%......but the other way around.......I LIVE on 15% of my income; I SAVE 85%.....I do this every month and have for years. I do not have a mortgage or any kind of debt, no car.

[@alexc5369]

The argument is invest 15% whilst paying off the mortgage, then scale it up a lot, or invest more whilst holding a mortgage.

[@ERprepper]

Man I’ll be honest if that makes you happy great, but it sounds miserable to me. Why aren’t you enjoying some of that?

[@jakedeutscher]

Having an emergency fund before becoming debt free allows you to cover expenses without creating more debt. This simple process has saved my butt in the process of debt elimination many times! Used to be in overdraft every month.

[@ZiggyisAmazing]

Dave has done so much. Not sure why people hate on him

[@linkbelt111]

Dave’s system works well for beginners, people with debt they can’t handle. Once you gain some responsibility financially, there are better solutions. Most of the Dave haters are generally bitter towards most things.

[@remmingtonstewart9826]

Not an investment comment. I just have to say it: After years in debt I finally said: ENOUGH! Enough with auto-pay, it's not working. Enough being stressed. I went with paper-bill-statements. For the first time in three years, I'm not in the negative. I don't have much, but having a little, being in the green, is better than having nothing in the red. Also, it's helped me not make any UNNECESSARY purchases. I can breathe a little again

[@donaldwayne7023]

What sets top investors apart from the rest? I've got $385K in equity from a home sale and I'm unsure whether to put it into stocks or wait for a more favorable market condition.

[@JenniferDavis7630]

You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.

[@EthanBrown_23]

Several individuals minimize the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.

[@danieltaylor--65]

You seem to know the market better than we do, so that makes great sense. Who is the guide?

[@EthanBrown_23]

'Laurelyn Gross Pohlmeier' a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@debbygradley25]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@aclockworkpeon]

Multiple viewpoints. Dave Ramsey is right. A lot of it comes down to having to not get "too greedy" and live life while helping others and giving to those who also need help and allocating money for that.

[@neopabo]

Me, who invested over 100% of my money because of inflation: Ok...

[@HoustonTom]

The percentage depends on your income. The more you earn, the higher the percentage. 15% at $40K income is fantastic. 15% at $200K income is not enough.

[@Dis_is_fine]

I put 30% into savings and still feel like I’m overspending. I guess that feeling never goes away

[@skycaptain95]

You are. But if you're happy with 30%, fine.

[@zakkrick]

My coworker put 30% into his 401k when he was a lot younger, by time he retired at the age of 53. He got a million in his 401k. Accords not everyone can afford 30% but he told me to put 15% then I’ll be fine. He has a household double income that’s why he can afford to put 30% into his 401k. But him and his wife has to talk it over and make it work for both of them.

[@obviouslyPSM]

This guy next to Dave has a fantastic voice for radio/podcasting ngl

[@futuremillionaire5631]

I hope God keeps Dave, Chris, and the whole Dave Ramsey’s team healthy and well for a long time! You guys saved my life.🙏

[@creaturecore13]

They will be fine without gods help, they have plenty of money to keep up the best healthcare. God is too busy giving poor innocent babies cancer.

[@christopher.costner]

@@creaturecore13 seriously tho,people think God makes everything happen you can't get out of your chair unless you decide too

[@thedaveramseyshow8260]

Thanks for commenting, I will refer you to my trade analyst and accountant to make good income, go more on digital assets..

[@JJTheFoodie]

@@creaturecore13If you know Dave you know he would probably disagree with that

[@creaturecore13]

@@JJTheFoodie being he is religious i have no doubt, doesnt mean he isnt delusional for that like most in the world with all their unfounded religions and different sects and beliefs. Doesnt mean you cant be religious and have sound financial advice (mostly) or be a good engineer, cook, ect. Luckily most people dont hold their actual daily lives to the same low standard they set for believing in their religion.

[@Eagleknight815]

Miss Big Chris and his voice. Nice to hear an "old" video in this morning's walk.

[@logancollins6299]

So if I have a $100K that I could invest into an account that earns 8-11% compounding interest, why I pay off a financed home at $100K 2.8% APR and not invest the $100k?

[@Nethezbet]

People ask this a lot. Ramsey's answer is essentially "because it feels good psychologically." I figure the bigger lump of cash at the end of 15-30 years will feel better than the early pay off, lol.

[@damondiehl5637]

Because the Ramsey plan is how to live your life. What happens if you get hit by a buss? What happens if you get cancer? What happens if that stock tanks? Do you have enough cash for 3-6 months? If everything goes according to plan, your idea will net more money. But do you have the right mindset for your money to retire and live well? He's not trying to teach stock brokers or bankers how to manage money.

[@Damoboyle]

Paying off your house and only investing 15% is dumb if you have a low interest rate, you lose more than you could have made through compounding interest

[@harrisonjamie794]

After a terrible 2022, shell-shocked financial backers have a lot to think about and losses to recover from. An expansion report and a wealth of other data did little to alter assumptions that the Central bank would likely keep raising interest rates regardless of whether the economy slows down. This implies that portfolios will experience more losses during the first quarter of 2023. I'm currently at a crossroads deciding whether to exchange my $250k security/stock portfolio; how might the continuous market volatility work to my advantage?

[@georgerobinson2021]

Concentrate on two main objectives. First and foremost, keep yourself safe by knowing when to sell stocks to reduce losses and maximize gains. Second, prepare yourself to gain from a market turnaround. I advise you to seek the advice of a representative or financial counselor

[@harrisonjamie794]

@@georgerobinson2021 In fact, ever since Coronavirus, I've been in regular communication with financial examiners. Nowadays, buying moving stocks is quite easy; the trick is knowing when to buy and when to sell. The section and leave orders for my portfolio are made by my counsel. accumulated more than $550,000 from a $150,000 savings that was initially stale.

[@georgerobinson2021]

@@harrisonjamie794 Please, how do I connect with your financial planner?

[@harrisonjamie794]

@@georgerobinson2021 This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant by name KRISTIN GAIL CUNNINGHAM and everything changed. I started enjoying huge returns from my investment.

[@georgerobinson2021]

@@harrisonjamie794 Thank you, Going through her profile on her webpage out of curiosity, and surprisingly she seems proficient. I appreciate this.

[@thomasfranco5997]

When I was working, I was putting 15% in my 401-K and 8% in my 401-k Roth. My job had both and I was there for 24 years. I retired in September of 2021. Do not regret it at all. I am getting SSI, Pension, and have a rental property. I have not touched my 401-K at all.

[@JMKrech]

Such sound wisdom! Love it!

[@Bfolks84]

I invest 30% of each check I get. I don’t have a mortgage and my monthly bills add up to $1,067... so, i really don’t need much to live on and I can really save/invest a good chunk.

[@arturotorres6251]

Did you pay off your mortgage completely or are you renting? Big difference in game plan based on your answer.

[@Bfolks84]

Arturo Torres yea, I don’t have a mortgage I rent.. i will have to adjust my investment approach if/when I do buy a property.

[@arturotorres6251]

@@Bfolks84 I see. My take on this would be the sooner you adjust the investment approach, the more funds you would have for the real estate investment scenario. This is assuming the 30% investment your making is into retirement accounts.

[@heatherstacy2976]

Heck yes!

[@TartarianTopG]

😈

[@JTDyer21]

None of this matters if you think the process of building wealth is instant and easy.

[@jeremyharris5609]

What about DINKS? People who have no children and who have no intentions of having kids? Can that earmarked income go towards something else.

[@AK-47ISTHEWAY]

Yes. Dave's advice is not a one size fits all approach, even though he claims it is. Everybody's circumstances is different.

[@Hello-oc7vj]

I don’t have bills or expenses I throw 90% into investments

[@JohnSmith-gy8rc]

How do you live, then? Mooch off parents or partner? Or in the military?

[@xJayhawkFANx]

@@JohnSmith-gy8rc either that or he has an OBSCENE income lol

[@szukaiwang4492]

@@JohnSmith-gy8rc maybe he has a high income

[@Michael-kv5ff]

Same

[@saraashkir5793]

@@xJayhawkFANx i mean if someone makes 100K post tax, and spends like $900 a month for food, insurance, smalls bills, etc, that’s not crazy to keep to a month for a single person

[@kaporalf150]

I save 70% of my income, for years now. Granted I make good money, but it helped me so far. I already have my emergency funds.

[@7878gil]

This was a good clip. I've lead Financial Peace a few times now and it's funny how many people have a hard time grasping why just $1000.00. Many of them say it's not enough but yet their net worth is in the red more than that.

[@jimhandler1129]

It's not so much as it's not enough, it just isn't the same advice as he gave 30 years ago. Yeah, the figures ($1,000) look the same, but the value of $1,000 in 1990 is not the same as it is today. So, Dave is actually telling us today to save less money in baby step #1 than he advised 30 years ago. He has to change this to a percentage to keep his advice consistent.

[@thedopplereffect00]

Dave doesn't want to spend the money to republish new materials. Wonder what he will do when hyper inflation starts

[@alexc5369]

@@jimhandler1129 no, the figure itself is not overly important and has nothing to do with inflation. It is only something to have set aside, dedicated for an emergency as many ppl starting this process do not even have $1.. whether it is $500, $1000, $3000 - the only stipulation and requirement is that it cannot be your full emergency fund as its designed not to be enough.. this is to motivate you to get through baby step 2 and 3 so that you can finally get a decent emergency fund. If you start out of the gate with a comfortable amount, you are sitting in a hammock and will just stroll through casually paying off debt instead of being gazel intense

[@jimhandler1129]

@@alexc5369 I understand all of this and am personally in a great financial situation. I'm just saying, to be consistent throughout the years, baby step #1 should be: Save one month of expenses or even one half of a month expenses and not a stated $$ amount that loses value over time. That's it. Thanks, that was fun. 😉

[@7878gil]

@@thedopplereffect00 Just two years ago he just re-did a bunch of the video's in Financial Peace along with the workbooks. I don't think he has an issue republishing new materials as they have new books coming out every year as well. Personally, I liked the videos before the new current ones but you can tell he's trying to get the other personalities on his team to start taking more of the reins. Personally, I could see someone keeping enough to cover their insurance deductibles if that makes them feel covered but that not the point of what he covers. It's enough to cover most things but it's not enough to make you comfortable. You're not supposed to feel comfortable in steps 1 and 2. You should be using the feeling of discomfort as motivation to be getting out of debt as fast a possible.

[@agginswaggin]

You can totally invest more, just make sure it comes from the money you'd usually spend on your lifestyle.

[@Natalieneptune469]

Stocks looked to rebound Friday to close out a rough first few days in August, as the jobs report's release takes center stage and an earnings-heavy calendar continues. I’ve heard testimonies of people accruing over $250k this red period. What measures can I take to ensure this?

[@Robertgriffinne]

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.

[@Too-old-Forthischet]

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.

[@Alejandracamacho357]

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

[@Too-old-Forthischet]

credits to NICOLE DESIREE SIMON, one of the best portfolio manager;s out there. she;s well known, you should look her up

[@cisium1184]

The part about the $1,000 emergency fund is brilliant.

[@ChooseJoywithTisa]

It really is! It's doable for most people and it keeps you from getting set back and off track.

[@randygreenfield4312]

Thank you . Originally Dave wanted a $1500 emergency fund , but I suggested $1,000 was a easier goal for beginners

[@Jumperman12mac]

It's always been brilliant

[@jimhandler1129]

@@Jumperman12mac It just hasn't been consistent advice.

[@ceezgeez1793]

Y?

[@thedudeabides1443]

I’m in my 40s and still live with my parents on a $150k/year income. Since I have no living expenses-I live for free with my parents-I now have enough money saved to buy a house for cash and I have another $1 million in my 401k. Finally moving out next week. I’m set!

[@goitoutdoors]

I don't know whether to take you seriously and congratulate you while also noting you didn't help your parents with bills and were basically mooching and never were independent... either way... way to type in your idea of a flex brah.

[@brucefruechte3270]

Congrats! Societal norms are for the birds.

[@Lasaro7499]

Congrats but dont forget to take care of your parents since they took care of you. Dont just abandon them in a retirement home.

[@mikek4308]

Weird flex but ok

[@thedudeabides1443]

@@mikek4308 life is all about living debt free and independently-even if it takes until age 48. I finally did it and I’m proud. I’m grateful for my parents giving me the freedom to exist without living expenses for fully 30 years. I owe them a lot and am very grateful. Now I need to start dating and discover what it’s like to be on my own.

[@dwightrobinson7876]

I like the baby steps and its very straightforward and simple, my only question is on step 2 why use the snowball method when the avalanche method will save you more money long term?

[@nickythao9344]

I invest 40% of my income into dividends stocks. I’m 20 living with my parents. 50% is towards savings for a house and 10% is for fun money.

[@shatikac]

How much do you contribute to your household?

[@nickythao9344]

@@shatikac $0 I live rent free and I do not really purchase anything. If I do spend money it will be because of my partner. I am frugal so all I do is save and invest

[@Mjolnher9]

@@nickythao9344 I am the same way too. Been sacrificing living at home. I do give a few hundred for food expenses and invest the rest and live very frugal.

[@alexc5369]

@@Mjolnher9 you been sacrificing by living at home? Your parents have been the ones sacrificing with you living there. It's a bonus for you.

[@nickythao9344]

@@Mjolnher9 it really is a pain as I share a room with 2 brothers. But I got too do what I got too do to secure a financial future.

[@MaryOlson7]

I just sold a property in Portland and I'm thinking of putting the cash in stocks, I know everyone is saying it's ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

[@MaryOlson7]

@chesterpatrick669 It all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro.

[@MaryOlson7]

@chesterpatrick669 Hi, please who is the expert assisting you and how do I reach out to them?

[@ariefraiser140]

When you start asking questions like this is when you know you're ready to graduate from Ramsey and move to F.I.R.E.

[@2legit2Kwit]

Yep!!!

[@alexc5369]

You ain't financially independent when you have a mortgage... It's only 15% in RETIREMENT accounts whilst you have a mortgage, then it's investing in non retirement vehicles. A similar process is followed in the fire community

[@ariefraiser140]

@@alexc5369 You don't seem to know the definition of financial independence.

[@dominick6131]

@@alexc5369 i also agree that you do not know the definition of financial independence. Financial independence is when your portfolio (stocks, real estate, etc) generates enough passive income for you to no longer worry about working ever again. You can be financially independent and have a mortgage because your mortgage is being paid by your portfolio, not your work income

[@alexc5369]

@@dominick6131 I somewhat agree, but you are relying on your portfolio to generate above your debt requirements.. so maybe be temporary independence depending on how interest rates and portfolio performance is each year..not having regular debt payments enables you to reach fire faster and is extremely hard to not be independent no matter how well your portfolio does. You don't plan to hold debt if you want to fire

[@clipsofthegame7477]

I'm 37 now and finally in a completely no-debt position. No house payment, no car payment, no CC debt, I owe nobody money (except taxes, of course). I'm saving 45% of my total earnings to make up for lost time, but once I have about 200k in total investments, I think I am going to scale back. I just want to get in a position where interest and growth are compounding nicely in a way that will be super meaningful later in life.

[@jordanroberts7931]

My wife and I save 45% with no college degrees living in a high cost of living area. Trust me, your net worth can really change when you go hard to the paint and you're lucky enough to have a spouse who is just as dedicated as you are.

[@thedaveramseyshow8260]

Thanks for commenting, I will refer you to my trade analyst and accountant to make good income, go more on digital assets.

[@jordanroberts7931]

@@thedaveramseyshow8260 Go away

[@Brian-hd4rb]

Jordan Roberts report it

[@jordanroberts7931]

@@Brian-hd4rb already did

[@jimhandler1129]

@@jordanroberts7931 Me too. This guy is so annoying.

[@Steph1]

“Charging the gates of hell with a water pistol” 😂

[@clairefrewman1456]

Debt free and i invest more than 40% of my income in a diverse portfolio spread across stocks bonds and etfs , and i've grown to a 7 figure portfolio also making use of a full service broker managing my portfolio..

[@walter.dlawson2580]

impressive. I myself am pretty much focused on building my stock portfolio..

[@serenewhopperman2924]

do you by any chance do referrals on your broker ?...i could really use one

[@clairefrewman1456]

@@serenewhopperman2924 Certainly I do but I can’t just leave info here, just google her yourself, her full name is " Nancy Jane Gluck " she's quite known, you can connect with her on her webpage...

[@chuajunlee2347]

that's quite impressive, you've surely made a good bit of money..

[@slam4119]

This is a bot.

[@sonny44898]

Thank you Dave! Thinking I need to go back and review the baby steps to get us back on track…

[@5x106]

I saved 48% of my 2020 income, pre tax via deferred comp and 401k, 6% employer match

[@inferno3080]

👍

[@chleroeyes931]

well how much was the net?

[@5x106]

@@chleroeyes931 I’m being taxed on 220k gross

[@pibblesnbits]

@@5x106 That makes no sense. 48% of 220k is far more than 19.5k limit for an annual 401k contribution. Is there something Im missing here?

[@5x106]

@@pibblesnbits yes, my company offers a deferred compensation plan, which has no contribution limits . 220k is what was showing as gross on my w2, which excludes my pre tax contributions.

[@t2216]

One thing that I heard that stuck me is that: the car engine or tire or what ever will blow on person car or house or what ever who does not have any saving and not on a person that sits on cash. I always keep 10k+ for any stuff like this. Somehow then it does not happen :D And also a spare in trunk

[@dirtfarmer7070]

It's been my experience that if you prepare for trouble, it doesn't happen. I agree with you on this point. Bad things will happen, be prepared and it's not so bad.