You're Broke, Dude! You Can't Afford To Lose $14,000!

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www.ramseysolu...

[@SeanBaker]

As of two Wednesdays ago, I don't owe anyone a dime, and my house is all mine. Now to keep paying the taxes. 🤣

[@arielsorto2203]

Is that good or bad

[@jamesbyerly766]

Those taxes mean you don't really own your house unfortunately. I only owe on my house. I'm working on it quickly. Congrats to you on all the good decisions.

[@superblump87]

@@arielsorto2203 you tell us.

[@MiseEnPlace26]

Best. Feeling. Ever!!!! Congratulations! Welcome to true freedom and empowerment.

[@SVSky]

Congrats!!!

[@Lourd-Bab]

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

[@Lourd-Bab]

@SammyIglesias4665 However, if you do not have access to a professional like Clementina Abate Russo, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.

[@Lourd-Bab]

@SammyIglesias4665 Clementina Abate Russo is her name

[@Lourd-Bab]

Lookup with her name on the webpage.

[@Lourd-Bab]

@SammyIglesias4665 You are welcome .

[@fabiocosta9716]

"oh I'm so smart look at me at 27 with a house, and savings and roomates, I'm gonna call so they tell me how great I am" and then they give you a reality check, and there's silence. I love it. bro, I hope you read this, yes you are in a good place, take their advice, pay your debts today specially the car and the loans. Most people would like to be in your position at 27

[@erikk17]

Hope he didnt sold his crypto

[@RichardPatrick84]

They are always wrong on crypto! Year after year, they are screwing investors by telling them to sell and not hold.

[@inthebooks3947]

What reality check? His net worth is over 140k at 27.

[@Ghidorah00]

I gotta say, Rachel is great at what she does. I love her takes, she is coming into her own!

[@St4ked]

-"You're broke dude" *followed by a moment of silence *

[@linuxsurfer2002]

Yeah, he doesn't believe he's broke.

[@jimroscovius]

He leverages debt instead of getting rid of it.

[@mph5896]

Jim Roscovius it feels great to have no debt and flush with $

[@MRAROCKERDUDE]

I liked that George pushed the caller at the end. George could tell the guy was hesitant about the plan and that it derived from his laissez-faire attitude to debt. Until he changes that, he’s not changing anything.

[@davidamills]

If George woke up in Rachel's heels ... Dave would fire him.

[@llcross04]

this is the best comment by far of all time!!!! you are 1000% correct!

[@eckankar7756]

HAAAAA...oh heck yes....Mr Homophobe christian.

[@barnabusdoyle4930]

Rachel would probably wonder why he stole her shoes

[@eckankar7756]

@@barnabusdoyle4930 I think everyone has long anticipated seeing George finally come out in heels.

[@eaglerulerworlds3807]

😂

[@Stephan2P]

Ramsey's way does bring peace of mind but it is not the fastest way to build wealth. I'd take peace of mind over wealth any day.

[@rhaythe]

It is the fastest, consistent way to build wealth. Most other methods require the absorption of heavier risk. The Baby Steps are the least risky yet highest success rate toward wealth-building.

[@dohnjoe735]

The thing is... he's not broke. I'm sure hes covering monthly expenses and his net worth is +150k. I dont think his investments should be in crypto, but hes doing fine.

[@themistoclesnelson2163]

I love Dave, but I think the Rachel and George combo is my favorite.

[@ClaxtonBay123]

No. Dave by himself IS YOUR FAVORITE

[@TheSmoothGrind]

John Balogna is the worse.

[@joeb1522]

@@TheSmoothGrind I agree. I can't watch episodes with him in it.

[@3-dreticle826]

Americans are addicted to debt. We have emotional attachments to liabilities and non tangible speculative 🤨 “assets”.

[@spankynater4242]

The caller is Jonesing bad.

[@brendaechols5929]

But it's hard to stay debt free when you don't have hundreds of thousands of dollars put aside. No one has that kind of money except the people who profit from it.

[@ItsMe-ko6sz]

Rachel’s at her best partnered with George imo 👍

[@thetruth5635]

Guy sounded so depressed when he heard how broke he is

[@eckankar7756]

Yes, his voice dropped an octave

[@jondoe5305]

He's got alot of money though

[@BrandonMinguez]

Pay off the car, pay off the student loans before they start accruing interest again, then max that Roth IRA and take it from there.

[@callmeosho7792]

Or you can wait until the interest starts accruing and then pay it while you keep the interest

[@ONLY1KUDWE]

He's not going to do anything they said to do.

[@Malyal4053]

This guy just wasted yours and his time. He is not going to do what he was just told. Sad.

[@why6212]

Not sad, you dont sell investments during a crash.

[@joshsarchive2650]

So good. Dave is like Obi Wan and these two are Leia and Luke. They're doing great!

[@Jim_Curtis]

Why call in for their advice if you know what it is and you don't want to follow it? Just do it your way then and stop wasting people's time.

[@mph5896]

People think they are smarter than a system that works for a lot of people.

[@eckankar7756]

I noticed that, too. I think he was hoping they'd validate his delusional financial plan.

[@user-ok6ef9zn4f]

If he actually looked at the opportunity cost that he incurred when selling his Apple stock in order to pay his low interest debt; He wouldn't be recommending selling stocks to pay debt...

[@dacianbonta2840]

as Ole' DRamsy has it: and what is the risk cost?

[@flori5548]

Replace “Apple” with “Nokia” 10 years earlier and read that again …

[@user-ok6ef9zn4f]

@@flori5548 Idk, I didn't know too many people who were hyped on buying a Nokia phone 10 years ago. The trend was pretty obvious.

[@alinatamashevich3354]

@@flori5548 Bingo, or Enron

[@jimroscovius]

Would you borrow money to buy single stocks? No? Then get rid of them.

[@jameswill7818]

Debt free is the new American dream

[@christopherpaige406]

Dave needs to teach them better. He said to NOT GAMBLE AGAINST THE DOLLAR. Become debt free and a millionaire, then drop $1k in crypto just to say you have some, along with precious metals. You cant talk to crypto crazies.

[@Mtgvixen]

Listening to this in Mid November 2022 after FTX has gone bankrupt.

[@jamesbyerly766]

This advice makes perfect sense. Nice work.

[@TheMagdielzuniga]

It’s like people that call into the show like this caller hear one thing and decide not to listen to it and respond with some thing that has nothing to do with the answer the answer given to them.

[@markspark7347]

My main problem is that with 20% inflation on housing there is such a big risk to not having investments that it’s almost bigger than having a mortgage 💸

[@johnSmith-uz8nl]

I agree, it is more important to invest 15% in retirement then to have home ownership.

[@Rashaadthegr8]

It's next level stupidity to have the money right there to be debt free right now and still procrastinating. I didn't even wait for the stimulus check to finish processing before I sent it to my student loans.

[@KXXNG5]

And did you get rich after that ?! Or you still living regular ?!

[@jamescurrent8794]

Way to go getting out of debt, and starting to build wealth. You rock!

[@Rashaadthegr8]

@@KXXNG5 I live regular so I can be and stay rich. Poor people try to live rich and stay poor and rich people live within their means so they will always be rich. You will never be rich if you try to live rich when you're poor.

[@Rashaadthegr8]

@@jamescurrent8794 thanks

[@cm5394]

@@KXXNG5 that’s a ridiculous question. If you owe it you pay it.

[@Rashaadthegr8]

You broke dude. 7:47 ok. Sounded super sad. Ppl need to realize if you in debt it's not your money it's Sallie Mae or whoever's money. I mean in general it's Gods money but when u in debt it's definitely definitely not yours. Imagine how you feel if someone owes u as much money as you owed someone else.

[@Rashaadthegr8]

@@saulgoodman2018 ik. he has it in savings.

[@donaldlyons17]

If he wanted to be debt free he would already have paid it off. I think he may more income or something…. Debt is a tool to be leveraged for sure. He made those debt to leverage other peoples money and now owes as the result.

[@jahglemanvibes]

Your loans is someone else's income let that sink in..ouch!!!

[@donaldlyons17]

@@jahglemanvibes No your right but he likely did not have the money to start so he makes others rich temporarily to have more wealth later. If he wants access how else was it supposed to work?

[@jahglemanvibes]

@@donaldlyons17 Deny self of any and Everything work, work, work hard save money till you reach your goal, example you make $100 you live on $20 you save $80

[@marnarenteria4203]

Why did he even call?

[@vanessaellis2195]

This DUDE needs FPU and the BABY STEPS

[@donjohnson1416]

He's digging DEEP for an excuse LOL!!!!

[@lunganikhubone2595]

Mindset Shift is hard. But the conscience doesn't lie, that why he made a call but still refuses to take the advice. Just a 7 Months Sacrifice that could change the Cause of his Life.

[@brendondowdy5651]

Lets hope he didnt sell his crypto

[@tranquil5892]

“you see debt as a tool to be leveraged” because it is? the advice i hear for half the calls is crazy.

[@jimroscovius]

You should always get rid of debt. It is NOT a tool.

[@tranquil5892]

@@jimroscovius You can disagree, but debt is a tool. If my car interest rate is 2%, why would I pay it off early when I can get 8% in the market, 3.5% for just putting that same money into my savings account. Just because Dave says it doesn't mean its the only way to build wealth. Mathematically, you should NOT ALWAYS get rid of debt, just bad debt.

[@zzzarkka]

@@tranquil5892 If you finance a car, you can't afford it. You're dumbass is still paying extra for a car and making less on your investments and savings account which are not at a fixed rate like your car debt.

[@smalltheresa1]

He stuck on that 15k of Cypto and hoping that it going go up !! Get rid of debts then he have housemates and make 70 k his budget off for sure

[@elnoraabduqadir2297]

Why he was saving money and not paying off his debt?

[@gsyarber]

Do your plan. All They know here is never use debt or credit cards. If your smart this not Always the best plan

[@jamiewilliams3179]

Debt is a tool to be leveraged.

[@robloxvids2233]

Signed, Steve Harvey's mustache.

[@cutehumor]

This is a get out of debt show immediately NOT an investment get rich advice show. Duh folks

[@genxx2724]

This show is for people who are in debt and don’t know anything thing about handling money.

[@dababycar2899]

@@genxx2724 couldn’t have said it better myself

[@PurpleRose8725]

It's a get rich show.

[@Lon1001]

yep, its a "decrease your risk" show, not an "increase your risk" one :)

[@genxx2724]

​@@dababycar2899 That’s kind. I watch for entertainment, and sometimes get aggravated over the terrible investing advice. I comment telling people it’s time to graduate from Ramsey and move on to Money Guy and Our Rich Journey.

[@javaskull88]

We are our own worst enemies, we who think who know better than these folks who’ve studied it and seen Dave’s plan work for decades.

[@aaronmurphy8796]

When someone called to ask George about house hacking he laughed at them and now he talks to someone doing it and he likes that their housing payment is going to be a lot less as a result . Amusing

[@HokageKyubiNaruto]

They were going to buy a new house to house hack. This guy already owns the house

[@SalisburySnake]

There's a big difference in letting other people pay for your house that you could afford either way, and depending on other people so you don't lose your house.

[@llcross04]

Oddly enough, Dave always tells young guys to go find a rich old lady and live in her garage and to pay her by doing odd jobs around the house and mow the lawn. Very weird to me!

[@aaronmurphy8796]

​@@HokageKyubiNaruto I'm gonna bet you dollars to doughnuts that this guy owns this house because he bought it at some point wich is what the other guy was trying to do. from a housing cost perspective he's in a better spot than the other guy and the reason is he thankfully did not call George before he got the house.

[@aaronmurphy8796]

@@SalisburySnake I agree with that distinction but if someone has any personal debt Ramsey would tell them they cant afford the house regardless of their debt to income so I think he is objecting to house hacking prior to being debt free regardless of the affordability of the house. And in that particular call both personalities basically held a scoffing contest to tell the guy "you cant live for free" and all other manner of platitudes that did not engage with the actual concept of house hacking.

[@stephaniedurney4201]

I don’t think he’s broke I think like everyone else he’s learning these tv shows get paid to give people advice you could own a car a house anything your heart desires but if you can’t survive in any situation that’s when your completely broke

[@LxTxSURGE]

if its bitcoin i would.not touch it, and just grind to pay off my bills

[@WhatIsThis-zq4hk]

“Due diligence” on crypto… wtf does that even mean? This coin is shinier than that coin… it’s a buy!!

[@bgbell3049]

The caller has either been smart or lucky. Cash in your chips, now.

[@EverydayAnimation]

…but debt IS a tool

[@alexnadon6999]

Yeah a broken tool.

[@Answers721]

Debt is a tool by the bank to enslave you. Do you really thinks banks give out loans because they want to help you?

[@EverydayAnimation]

@@alexnadon6999 everything around you was funded by debt. You think someone worked hard and bought a mall cash?

[@EverydayAnimation]

@@Answers721 there are two types of debt, the one that is a tool is good debt.

[@Lon1001]

It's a pry bar that the bank lets you use to open crates which they get to keep the spoils of.

[@jimroscovius]

I don't understand why he won't just pay off his debt, and then invest. For some reason, people love debt. Stupid thinking annoys me!!

[@dannylengyel5830]

What's even more stupid is not using debt to your advantage

[@lionheart93]

I like this advice

[@chrisforker7487]

This guy is not getting the psychology of the plan.

[@spankynater4242]

But he sure used a lot of pretty words.

[@michaelskrable4300]

I don’t understand how he is “broke”, his NW is like 200k?

[@Nick-gk6hj]

So hes obviously juiced on crypto, got the gambling bug. 0 chance he ever gets out of debt. He'll call back in a couple of years with 200K in debt wondering what went wrong

[@Winston0Boogie]

Does he not listen to Dave Ramsey? I mean I'm listening to him talk and I'm thinking "Oh I know what he should do" lol I actually hear Dave in my head as the guy is going over his debts haha

[@alinatamashevich3354]

This is typical of "debt heads". All they see is the money in the bank. And yet have equal amount of debt and think they are smart.

[@gknettel22]

Not in a committed relationship thank god-every man in 2022

[@eyecontact13]

Kamel going hard

[@zachgreen759]

People with any amount of money in crypto have a really hard time parting with it. Logic doesn't work with them.

[@sami-9233]

Where is Dave?

[@TravelingDan20]

This is a weird dude

[@1pirezx827]

He’s already invested and can take care of his debt so he can wait to pay stuff off and make money in the mean time investing

[@bellahlangford7676]

What is a 401k please, from Melbourne Australia

[@wintercame]

A retirement account, named after the section of the law providing tax privileges.

[@freedomworks3976]

Um ... ah .... um .... and .. um ... and .. um ... and then

[@bobsacamano7653]

I have a 401k but my job doesn't match

[@eckankar7756]

still...it's pre taxed...you get that benefit.

[@ykciR]

Sell the house! You’re single! why do you want one anyways. You can pay off your debt. And have money to invest.

[@firefly9838]

Poor guy he's gonna lose all this money in crypto.

[@H.A.L96]

I feel wealthy.

[@tr3slech3s]

Is it smart to put all my 401k towards an index fund like the S&P 500 that has a buy amount of like $300+ or should I keep it low like around $17 where I have it now in a target date fund 2045?

[@TheEsperKing1]

Do the research and use math to calculate the difference between the two plans. Numbers don't lie

[@adamseidel9780]

The buy amount shouldn’t really be a factor. If you’re only investing $17 a month, the main goal should be to get that up.

[@tr3slech3s]

@@TheEsperKing1 not sure what that means but .. obviously one costs more than the other. My question was is it bad to have less stocks because the price is higher than my target day fund or does that really not matter?

[@tr3slech3s]

@@adamseidel9780 I gotcha. I’m not only investing $17 that’s just the price of the fund per share I’m currently in. I’m going in 16% with my 401K but wanted to be more aggressive with it considering I want to call it quits about 50-52 years of age. Currently 28. Putting into VOO on the side as well but just wanted to make sure my 401K is working for me and not against ya know?

[@megalodon1726]

Look at the growth chart for the funds, not the price per share. Price per share is irrelevant unless it's extremely low or extremely high (below $1 is a "penny stock" indicative of a failing company, above $10K may have low trading volume and be difficult to sell quickly due to the high price).

[@nic_ccc3366]

Unfortunately it seems this guy has 'invested' his savings, ie he probably couldn't afford to invest that money in the first place. And he's panicking now because his investments are down and he still has a lot of debt. When someone says "I got a good deal on that.." (talking about his mortgage), it often means they bit off more than they could chew.

[@barnabusdoyle4930]

I got a deal on my mortgage. I bought a $160k house for $85k because it was a foreclosure. It needed a little work and still needs some cosmetic stuff but that mortgage is around $750 a month

[@nic_ccc3366]

@@barnabusdoyle4930 That's a great buy. I hope you're not like this guy who got a "great deal" but is still up to his neck in debt and thinking to sell investments to pay off (non-mortgage) debt.

[@richardgalvan4639]

You could make $1,000,000/year and owe $5 on a credit card and team Ramsey will say you’re broke

[@benoitbrouillette6481]

Yeah that’s exactly what they are saying….. 🙄

[@theAppleWizz]

HE HAS 240k and 40k debt

[@parkerdlutz]

This guy is doing pretty good, horrible advice

[@marleyjanim5033]

4:32 Hiroshima of truth bombs

[@djsalac3493]

NGMI

[@eco6350]

Although I agree with the advice given for the most part....Wow, do you guys even know what being broke is? A single guy making 75K a year, with reasonable debt and expenses is most definitely NOT broke! He went from doing OK, could use some improvements to being broke in a matter of not being totally sold on their advice. Low blow!

[@Omikoshi78]

😒🤓

[@bettygrable6440]

This guy is cringe

[@kaylaa2466]

I don’t think he’s broke at all...his heart broke hearing it 😭 I think this advice was meh

[@Lon1001]

Yeah they took some wind out of his sails, but they could see he needed to change tack.

[@spankynater4242]

What do you mean? This advice followed the baby steps to the letter.

[@kaylaa2466]

@@spankynater4242 I don’t think he’s in the hole as they said. Dave calls people broke when they’re drowning & are doing things with their money besides paying debt. This guy has 40k in savings & 14k in crypt. He ain’t broke 😂😂

[@spankynater4242]

@@kaylaa2466 he owes more than he has saved up, so he’s in the hole. But that’s not my point, you did not like their advice, but their advice followed the baby steps, so that’s irrefutable. What did you think they were going to tell him?

[@peteyj69]

🍿🚀🌛

[@derekribbeck746]

I like Rachel's shirt, blue is my favorite color

[@todd2456]

creepy

[@derekribbeck746]

@@todd2456 How is it creepy?

[@todd2456]

@@derekribbeck746 the fact that you even have to ask.

[@derekribbeck746]

@@todd2456 I like the color blue that is on Rachel's shirt

[@todd2456]

@@derekribbeck746 first rule of holes.

[@HappyLife-tg8yy]

Yeah I'm ready to unsubscribe after this video. Pure nonsense

[@wannabecarguy]

You're missing it. If I want to invest in property, I could. This guy can't. They are trying to help him build wealth. He wants to break even.

[@Gelderzi]

I agree. Horrible advice unless you’re really really bad with money management.

[@R-P-S]

Watching this live on stream was horrible, why would you sell an asset you believe in while it’s down??? Stupid advice, idk why these guys force people to get out of debt immediately when you have the option to wait a bit

[@cutehumor]

This is a get out of debt show not investment advice show. Duh

[@faradaysage15]

I know the truth hurts but go ahead and enjoy being broke

[@fsm12385]

40k in savings 49k in debt is actually nothing in savings .

[@inthebooks3947]

His home equity is over 120k+. His net worth is amazing

[@nikkisigmon8090]

And cue the cryptocurrency scams and marketing in the comment section 😆

[@handleyobusiness]

They will have a whole conversation to themselves 🤣

[@jamesbyerly766]

Hehehe

[@Lon1001]

they would be here regardless

[@JustinCase780]

"and, I'm not in a committed relationship thank God" Even Rachel chuckled.

[@djpuplex]

The only thing his got right.

[@Self_inflicted_music]

My man is no simp lol im 28 and think the same way, id rather get my life in check first before adding a committed relationship in the mix. In order to take care of someone else you must take care of yourself first and foremost

[@djpuplex]

@@Self_inflicted_music I'm jealous it took me 30+ years to realize women don't add to your life they subtract resources, freedom, sanity, happiness. Guys these days are well informed on female nature and have way more resources to get smartened up.

[@eckankar7756]

Long term, hookers are cheaper.

[@marleyjanim5033]

Golden

[@Mjixa]

This is the kind dude who likes to argue and show off at the same time. What’s the point to call

[@jamesbyerly766]

Nothing better than the feeling of being debt free. Not even a big savings account. I wish I knew that at 18.

[@ErrorPagenotFound-ig1cy]

Lol okay

[@financialassistathospital4955]

@@ErrorPagenotFound-ig1cy great say

[@MiseEnPlace26]

It's weird isn't it @James? That feeling you get. I've never felt such a new sense of empowerment and freedom as I have now that am beholden to no one.

[@johndone8045]

Looks like u dont have enough income

[@blackworldtraveler3711]

When you have no debt the savings account gets bigger fast. Great feeling especially when starting a career. Your entire budget is simple and all in your head I had zero debt and was saving/investing more than half my pay and maxing my 401k and Roth IRA.

[@jasonbroom7147]

There is a list of events that will occur in your life. One of the secrets not everyone will tell you is that the SEQUENCE in which those events occur can be absolutely critical to the overall outcome. The Ramsey Baby Steps are all about putting your financial efforts into the correct sequence. It is behavioral science applied in concert with the mathematics of financial success. There are millions of examples of how doing things out of sequence can and will lead to failure, but also tens of thousands of examples of how doing things in the right order leads to success. A smart man doesn't argue with success.

[@BetYouHateMeNow]

true, the order of operations exist for a reason.

[@jadyphan5892]

"The Ramsey Baby Steps are all about putting your financial efforts into the correct sequence. It is behavioral science applied in concert with the mathematics of financial success." Very well written. Great point!

[@BK12344]

This guy isn’t going to do what they say. He thinks he knows everything and he doesn’t

[@matthewcontreras5538]

Much of what George says here is not true.

[@topsykretts2264]

@@matthewcontreras5538 like what? Lol. George is right. The guy is broke. His debt is is higher than his savings/equity.

[@jimroscovius]

@@matthewcontreras5538 Everything George says here is true. Tell me what isn't.

[@TheDjcarter1966]

I just don't understand why people that can be debt free choose to stay in debt? He can cash out and be debt free with $5K in the bank. He makes $75k, so maybe $5k a month take home. He said he only pays 25% of $200K mortgage so maybe $600/month then add utilities, food and misc for a single guy maybe $1600 (that generous). So he can save $3k a month in five months he has $20K in the bank. Now start saving maybe $1k a month and put $2k to extra house payments, by the time this guys is 35 he could have $100K in investments, $20k cash savings and a paid for house that is now generating an extra $15-20k a year in income. He is doing fine is he doesn't get off track.

[@doughboy532]

This is a great roadmap David. I think the hardest part can be not to be Dave-ish where you do great at times and other times you justify wants as needs or personally get overwhelmed by the debt and thus you don’t pay because you are looking at the entire mountain. I remind myself I’m climbing it bit by bit not all in one day.

[@freedomworks3976]

Same exact problem hoarders have

[@jml9550]

People lined to see that cash and investment money in their account, but they don’t see debt until payment is due.

[@vanessaellis2195]

He doesn't have a budget. He is living the 26 year old dream.

[@carojames6776]

@@vanessaellis2195 which may well turn into a 26 year old nightmare if he's not careful.

[@JA-zh5xi]

There is no feeling like being debt free. You can try to game the system to get rich quick, but most of those people wind up staying poor.

[@linuxsurfer2002]

Exactly, which is why there are so many systems that profit from consumer debt.

[@brendaechols5929]

@@linuxsurfer2002 yeah its called capitalism. A system that keeps corporations rich

[@kbanghart]

@@brendaechols5929 but yay america

[@ryugurena3327]

Most people stay poor...so you're saying there's a chance?

[@JA-zh5xi]

@@ryugurena3327 absolutely!

[@bradwilliams4921]

“When you do not owe anyone anything you have options.”

[@freedomworks3976]

Fo sho

[@drewtakesprofit8897]

yup. just realizing that! thought I could juggle the debts and investing at the same time but its too much. pulled my investments out, and going max out paying the debts, which is really just a truck payment and $1000 on my cc. should have it ALL paid off by the end of the year lets go

[@FaithandPurpose828]

BOOM!

[@matthewgardner2144]

You just know that car payment is for some kind of Charger or Challenger or something like that.

[@llcross04]

He sounds more like a hipster, im thinking jeep or Subaru

[@eckankar7756]

HA....you're right!!!

[@samuelburton9761]

What’s wrong with having a challenger or charger ?

[@matthewgardner2144]

@@samuelburton9761 When you're broke and have car payments, everything is wrong with that!

[@Executor009]

I felt physically better when i got out of all debts except for my house.

[@Sloimer]

Same

[@jimroscovius]

Even better when that house is paid off!!

[@Dustin-tt4gx]

It is so hard for people to lose the mind set of payments. The all might school never told them to be debt free.

[@mph5896]

Pick winners and losers 🤣 stop parroting gibberish. The upcoming recession will destroy this mentality

[@l-train7876]

What?

[@gammayin3245]

I want to applaud George and Rachel as show hosts - you have not spoken over the top of each other or with the guest - this is so much easier to listen to and follow! Thanks!!

[@dontworry1568]

Why would you want to keep paying interest on the loans?

[@nickm4662]

Just pay off the student loans! My goodness.

[@PGG4RC14]

With the mentality he displayed, and there "obviously being winners and losers in this space", He's undoubtedly waiting on the feds to approve loan forgiveness. U decide what that makes him....

[@davidmason777]

Could you imagine paying a student loan then a few months later it being wiped out. Just think how sick you would be. If you say you wouldn’t be mad then it was never a concern to you anyway because you making big money. For the average American though they would be sick especially if it was more then 20k.

[@llcross04]

Absolutely no one wants to pay off their student loans. Even when you have the money in your hand. We all feel like its throwing money don the drain or burning it. More people than not think that education should be free or drastically reduced in cost.

[@meggrotte4760]

The guy should just pay off his loans if I could do that with mine I would

[@timbowden7646]

Great advice but when I tell someone my house is paid off and no debt they just go well that's too hard for them to do and start taking about fishing or hunting 🙂

[@lynnebucher6537]

Yeah, like my coworker in his mid 50s who didn't contribute to 401K because he has diabetes and won't live to retirement age, and spends everything he makes now anyway. Salary $90-100K. Foolish.

[@Bob-yh7ir]

This guy is not going to change anything and he is still going to be broke in 10 years. Trying to justify all that he is doing wrong.

[@jml9550]

Nah. He still has the house. He just need to buy another new car and get into debt. And yeah, pay that stupid student loan off today.

[@costco_pizza]

This caller has been living the broke lifestyle for years. Very sad. I don’t know if he will ever break the cycle.

[@eckankar7756]

Yep, he wants things to be different but not have to change his beliefs about money

[@jml9550]

People likes to talk about changes but hesitate to implement a plan. Ask me how I know, in terms of losing weight :)

[@eckankar7756]

@@jml9550 "Getting ready" to make a change is exciting, gives an adrenaline rush, sounds like you're moving ahead but mostly there is failure to take action. The cemetery is full of people who spent their lifetimes getting ready to do something, but never did. They found more value in the illusion than the reality of change.

[@edgardeleon7366]

I think the issue is people think Dave’s view on their situation is him giving them personalized financial advice when he’s not really speaking to you but to everyone watching. This is general advise meant for people who have been irresponsible for years and don’t change. Obviously debt and single stock investing can lead to wealth but the average person just doesn’t have time to research or manage debt/investments.

[@Howdy762]

7:40 the guys "ok..." has me dying right now hahahaha

[@dawnt5587]

Why would you keep the debt? I will never understand why people keep debt when they could write a check and pay it off.

[@aolvaar8792]

OK, take ~$500K in non-retirement savings making 8-10% and pay off a home with a 2.5% mortgage

[@thatoneguy94512]

I had debt.. people told me to keep paying in it . Instead I pay min payments and invested most of it.. a year later my investments are worth waaaay more than enough to pay off all my debts plus extra left over. I wouldn't of Had this large chunk of cash if I didn't invest and instead paid off the debts..

[@blackworldtraveler3711]

@@thatoneguy94512 That's nice but you didn't say you paid off your debt.

[@d_all_in]

@@thatoneguy94512 but if you tried that this year you'd be down 20% and still have the debt. Paying off debt is a guaranteed ROI and frees up cash to invest with. That's why it's better to pay off debt.

[@d_all_in]

@@aolvaar8792 you aren't making 10% this year, buddy