"You're Not Serious About Getting Out Of Debt Yet"

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[@mocheen4837]

I bought my daughter a used Nissan when she turned 16. The car cost me $6,000 and I put another $1,500 into it buying new tires, changing the fluids, adding a backup camera, front and rear dash cameras and misc fixes. She has been driving the car trouble free for four years now. I see so many kids at her school driving around in new or luxury cars. The other students must have wealthy parents. We opened a Roth for my daughter in high school and she has been contributing to it monthly. She already has over $20,000 saved and has increased her contributions to $300 per month. She has a full scholarship in Biotech and will graduate with her Masters and zero debt.

[@lijajedega]

THATS AMAZINGG

[@user-ih9dg3uz5y]

I bought my daughter a red merc SL sport it cost 270,000. Her Graduation gift.

[@wizkhalifa9401]

@@user-ih9dg3uz5ysend me some money 😭

[@the_seeker.entity9206]

​@@user-ih9dg3uz5yno one asked

[@enricopallazzo3244]

@@user-ih9dg3uz5yLegend

[@lispendens]

I must say. Dave’s rice and beans recommendation when saving money actually helped me lose 25 lbs in the last 5 months of saving hard and paying off my debt.

[@GoJojo-lv6zi]

Nice, congratulations! I agree. Being “gazelle intense” is actually saving me money in buying excess food or pantry items that end up going bad. Simpler meals are usually healthier and easier to make balanced.

[@TShirtAndReeboks]

I save so much when not buying chips, ice cream, soda, etc! Being money smart has been so healthy for me!

[@lispendens]

I agree! It’s no wonder third world populations tend to be much healthier than Western countries: they eat way more “raw” and healthy than Westerners. They focus their diets on rice, beans, potatoes, and vegetables which are all dirt cheap…very little meat and dairy!! Not to mention they walk more and drive less. I actually walk 5 miles to work now instead of driving (but not for long since snow is coming soon :(

[@katyedwards3935]

He speaks metaphorically when he says that, but I'm glad it helped you lose weight.

[@lispendens]

@@katyedwards3935 I took it literally and glad I did because I’ve never saved more money or felt healthier than now :)

[@jessicasquire]

Its quiet interesting how we reject the reality of our situation and expect to be able to observe it, control it and even change it. I used to be financially depressed until I read a book that made me realized that the secret to making a million is making better investments.

[@Erikkurilla01]

May I ask which investments are good? I've been looking at a few different ones but want others' opinions as well

[@jessicasquire]

What I think everyone need is an adviser, who can help you get in and out of any investment at any time and you'd sure be in Profit. With this I feel anyone can basically achieve financial freedom

[@jessicasquire]

*STEPHANIE KOPP MEEKS* , That's whom i work with

[@jessicasquire]

You can glance her name up on the internet and verify her yourself. she has years of financial market experience

[@Erikkurilla01]

Thanks so much I was able to find her page and I already leave her a message

[@Hiker2110]

This is the Dave I missed. Tough and stern, but not overly harsh.

[@lavenderkisses9461]

Dave’s calmness at the beginning scarred me…

[@radioheadfanlove]

Dave's so cute 😭 When he softly asked, "Is she working?" ;) so calmly I LOL'd. Right before I knew he was about to really lean into this situation and tell it like it is! ;) Love Dave & this crew so much!

[@kunalsab7805]

She ain't selling no cars 😅

[@zachgreen759]

Nope.

[@AwordwithAngel]

I thought the same thing after Dave said that. 😂😂

[@langasanders1337]

Nope, she is not 🤦🏽‍♀️🤦🏽‍♀️

[@javiernajera8420]

Intellectually exploring and not emotionally engaged!! Words were deeper than a a knife 🔪

[@robertdimitrelis5567]

Live like no one else, so later on, you can live like no one else. That advice is priceless. 💯

[@jesuslovesyou916]

You forgot the give part lol

[@lionelhuts875]

When Dave asks someone how they're doing, I'd love for someone to respond with, "Focused and not finished" just to see their reaction.

[@amireallythatgrumpy6508]

Or they could try the correct "Focused BUT not finished"...

[@lionelhuts875]

@@amireallythatgrumpy6508 Yes that also works.

[@alandbs329]

Nah, would be better if Chris Hoggan called in himself and said he was behind on the electric since Dave kicked him off payrole 😂😂😂

[@thomasd5488]

Or they could say, "Better than I deserve."

[@forresthodge1024]

I'd love to hear someone say. "Well Dave, thanks for asking, I'm making $200k a year, my house is paid for, cars are paid for, I've got zero debt, I've got about $200k in liquid assets, and another $3m in investments, with $4m in a Roth IRA. I have no dependents other than my dog. I do put most of living expenses on a credit card that I've had since I was 18, and while I'm 45 now, I still haven't paid a dime in interest. And I've never read your books. Anyway... I'm thinking of buying a new Ford Raptor as I'm going through a mid-life crisis, do you think that's doable.?

[@FJDGBFDBGify]

&1,068 left! I got this!

[@pep590]

Way to go Evan!

[@stellabella5269]

❤🎉❤

[@Lifecounselor710]

She ain’t running like a gazelle yet

[@ChrisMFlorida]

More like a chicken with its head cut off

[@AwordwithAngel]

Dave, simply thank you for sharing your gift of helpful knowledge and information. And thank your wife for willingly sharing her gift (you) with all of us. May God continue to bless you both, along with the rest of your family.🙏🏾💜

[@exceedinglyaverage1179]

"Ur playin footsie" 😂

[@Echodot232]

Wow thank goodness I've taught my son well. He's doing awsome at the age of 26.

[@bigmac4899]

2 car payments is awful. It definitely starts there.

[@Ink30]

This keeps you broke

[@fuse911]

One car payment is bad enough lol 2 car payments will drain you.

[@forresthodge1024]

This woman's case is a bit different. Like 95% of her debt is just those two cars. And the total debt is around 1/3 of her annual income. I feel like this is fairly easy situation to get out of. Dave's taken plenty of calls from people in way ,way worse situations than this. She could probably get this knocked in a year, two years tops and not have to sell either car. Of course if she sells the cars, she could be out of debt in a couple months, basically just however long it takes to sell the cars.

[@BlueDauntless]

@@forresthodge1024It’s going to depend on how soon she wants to contribute to her retirement. If she wants to start immediately, then she’s selling the cars.

[@joshlonon2614]

Dave has his math wrong on the amount she can retire with. No way that can get to 3 million. She may get to 1.2 million if she does 15k, 8% annual for 25 years.

[@sootfoot]

Your forgetting the company match

[@marylai3555]

There are company caps & even without the cap there is no way she would get to $3MM.

[@BrianW211]

Dave uses 11-12%. He's said it several times on the show. Yes, it's too optimistic.

[@robertbell525]

Totally agree, there is no way in hell she's getting anywhere close to $3M. This 10% per year is not accurate. Sure, maybe averaging over the last 80-100 years. But "average" is extremely misleading and way too broad. Your personal timeline can be very very different. Typically during YOUR investing timeline you see years of negative returns, followed by a few years of great returns, some years of maybe barely growing, followed by another 30% drop. That 30% drop happens in about 6 months and takes five years to recoup. Your average ends up being about 3% over any 10-year sample. $1.2-1.5M max is more realistic. Also pay down your house and either be mortgage free or use the equity to buy a smaller retirement place for cash in a low cost state and bank what's left.

[@DamianBadalamenti]

He's also usually counting the house as well as company match, plus raises

[@thebastardgift]

I've not had a car payment in 25 ye years and the side effect of that is, I couldn't be paid to ever buy a new car.

[@jamesrichey2434]

1. I love Jade! 2. This video was spot on! His and her advice are on point and until you get there, you'll never be debt free. I did it and if I can, anyone can

[@33ladyRAM]

I love Jade

[@LovelyKola]

😂 And then I’ve got the Moneyyyyy @7:28 😂

[@Anthrax57]

So they're telling her not to invest at least 3% which they can fully match? That's free money. She just needs to concentrate on her debt.

[@mbyrd6713]

Only for a little while, once she’s out of debt, she’s going to be able to invest and it not be such a burden.

[@Anthrax57]

​@Kia828 Well the rate she's going it "should" be approximately 7 months but I seriously doubt it. She will not be selling her new car and continue to buy stuff she can't afford.

[@BlueDauntless]

@@Anthrax57And she’ll probably get the math and continue to be in debt forever because she’s not ready to change her lifestyle. If she was, she’d sell the cars. That frees up more income to pay down the rest of the debt. Then she can build a savings. Then she can contribute to retirement. Which can be done quickly if she wanted to. But she doesn’t. So she’ll keep doing what’s she’s doing.

[@claro1217]

I thought 100% Dave Ramsey was getting ready to say “Sell the Daughter.” At 3:10😂😂😂

[@woodside4life]

Can’t say it didn’t cross my mind…

[@kaitiscarlett9022]

@@woodside4life It was edited out 😛

[@tcgtpl]

She should absolutely be putting up to the company match into her 401k. That’s free money. She should also then be putting as much as possible to getting out of debt.

[@OopThereItIs77777]

This makes the most sense! Get rid of the cars & start investing, but it’s outside of the baby steps so Dave won’t recommend it

[@fauxbro1983]

The baby steps are there for a reason. People try and Olay the yield game. Debt is physiological more than mathematical. Visa and Mastercard employ ad agencies, have market focus groups all to make you believe the debt peddlers are there for you

[@donjohnson1416]

Daves helped MILLIONS become millionaires and you have helped how many with your broke ass advice? lol. Go push your snake oil somewhere else. His plan has been PROVEN to work. Good day.

[@donjohnson1416]

@@OopThereItIs77777 Your plan has been proven how many times compared to his? no one cares what YOU think this is the forum to get Daves advice lol.

[@OopThereItIs77777]

@@donjohnson1416 ….Dude we’ve done Dave. Not ISH either, so you’re preaching to the choir. I was just saying it DOES make sense (not behavior wise) for her to start getting the match now & selling the cars. She’d only have like $100 that she could knock out within a month.

[@Albee213]

Cars are the stupidest things ever to waste money on. I purchased a prefect condition vehicle 6 years ago for $3,000 that had 90k miles on it. I have driven it from Seattle to LA twice and put on a total of 90 thousand miles. Maybe 2k in maintenance and tires and it has never let me down, does everything I need and I could careless about what the neighbors drive. Cars are the worst things to throw money at. New cars not only cost more per month your car insurance is also more. I own three cars and two motorcycles and my full coverage insurance is less than most pay per month for one new car. Unless you are rich a car should just be a metal box that takes you places and looks decent. No one wants to drive a hooptie, I get it. But paying monthly for something that sits in the drive way 98% of the time looking pretty AND costing you money even while turned off is just plain stupid.

[@ryand7713]

What type of vehicle if I may ask? I hear all these people call in with repair horror stories and they say "Ford Fusion" "Chevy Cruze" etc and rarely "Honda Civic/Accord" or "Toyota Corolla/Camry"

[@Albee213]

@@ryand7713 I purchased a 2000 Plymouth Grand Voyager for $2500 plus tax in mid 2017 with 90k on it. Was like new really.

[@tubenachos]

Unless it's a Nissan GT-R 😊😅

[@queen.kristal8395]

this is very true. she should have just kept her car instead of giving it to her daughter she can buy her own she was only 16 so I don't see why you will give her a car payment.

[@richman117]

id put 3% in thats free money from the company. Can still tackle debt quick

[@richardtemple3436]

The way he ask “is she working” scared me lol

[@jimmymcgill6778]

15k for 25 years, is 1.2 million. Nowhere close to 3.

[@nikolaig1]

That assumes you do a 6% and comoany matches 50% and she has more than $3000 in the bank. Idk where dave thinks you can have 3 million in retirement

[@Dan16673]

Are you accounting for compounded gains?

[@venutoa]

375,000. What math are you people using. Or am I missing something.? I know there is compounding. But it's not gonna triple ur money. Writing calls and dividends will.... Risk free. Not sure why that stuff is not being talked about. And maybe 10% in options trading. That's how you get rich. Not this BS

[@nikolaig1]

@@Dan16673 its not even a million🤣🤣🤣

[@MrOfficer235]

$15k plus her 6% match compounded for 25 years with around a 6-9% return would be right around only 1 million. Could be a little more or even a little less

[@tcbridges]

I think it is time for your daughter to start paying her car balance now that's she is 18 and working. This lady makes good money and something isn't adding up.

[@OopThereItIs77777]

Why can’t the 18 year old pay her own car payment???? Am I missing something?

[@jimmymcgill6778]

She gave her the car.

[@OopThereItIs77777]

@@jimmymcgill6778 The car wasn’t paid off. She’s in debt. She’s calling freaking out because she’s in debt; 7/8 of her debt is these 2 cars…1 of which her 18 year old, employed, fully capable daughter now drives. The daughter can still have the car with the car payment. Mom is in 40k of debt…over half is her car. Do I need to break it down any further?

[@catherinewilke5583]

I drove a Colt Vista that I shared with my sister at that age 😂. Then mom took me to the car lot and bought me a used Tercel (when I was in college) . I felt like the most spoiled kid. This lady is bonkers.

[@bjkarana]

I'm so glad I prioritized 401k and IRA contributions in my 20s and 30s. At 39, the flood of ever-growing (tax free!) dividends speak for themselves. The caller, at 38, has plenty of time to get going on her next egg, but she also needs to be deliberate and realistic in her expectations; what she could have built with $5k per year deferred starting at age 25, might require $15k per year now, which is not chump change to most people.

[@venkkandadai6042]

You mean tax deferred. 401k and IRA are tax deferred unless you are using the Roth equivalents

[@bjkarana]

@@venkkandadai6042 Um, yes, I understand that, and I am referring to the tax free growth until withdrawal in a traditional IRA, or tax free growth and withdrawal in a Roth.

[@Ksee89]

I read Ramsay's book. We bought my car $5,000 cash. A few months later my wife's car blew a gasket. So we sold it to some mechanic for like $900. We then bought her a $13,000 car. We paid $9,000 cash and her parents paid the other $4,000 cash and we paid them back fast. Dave says that owing your in-laws makes thanksgiving taste different. We don't know about that because we paid them back so fast thanksgiving hadn't arrived yet 😂. But here we are. No car payments years later.

[@Excalibur2]

I always thought cheap cars were too risky. Dave says to just gamble and risk it, which is how he got into bankruptcy.

[@user-nd5mh2fb6m]

​@@Excalibur2 that's a pretty big false equivalency. You can take your used car to a mechanic before you buy and get it checked out, and you can buy used cars at trusted dealerships that offer full warranties. New cars can have problems too, problems that could leave you without transportation for weeks at a time. The additional risk of buying used does not outweigh the risk of taking on debt to buy a car that a) could have an issue anyway despite being new and which b) depreciates quicker than you can say depreciate.

[@Excalibur2]

@@user-nd5mh2fb6m it's a pretty fair comparison. There is risk with driving unreliable vehicles and as a car gets older that risk goes up. They just wear down. It doesn't really matter if you take it to a mechanic, even if it's sound in the moment, it can break down at time. You can end up paying a grand per month in repairs, meanwhile, a newer used or even brand new might be under $500, maybe $300 if used. My own father spends more on repairs than I do car payments.

[@user-nd5mh2fb6m]

@@Excalibur2 it can break down sure, but it's not just a matter of luck. you can do the research on most reliable vehicles, the maintanance they will likely need at each milestone, and look up the maintenance history. You can have a mechanic check the vehicle over and make sure there are no obvious flaws. if you do all that and you still get a bad one that's pretty bad luck- but even if you have to do it twice you'd still be miles ahead of a new car payment.of all the vehicles my family has owned by far the most reliable was my 27 year old truck that i bought for $1200. My sisters brand new suv needed a new transmission not but 2 years into ownership and she was just lucky that she was within the warranty window. if i buy a 5k car that needs a new transmission im out 5k, if i buy a 35k car that needs a new transmission im out 35k.

[@Excalibur2]

@@user-nd5mh2fb6m all I'm saying is that, all else being equal, older cars that are cheap are so for a reason. You get what you pay for and they all start having more frequent problems as they age. If you're broke, you don't have much choice but to take the gamble, but if you're making decent money it quickly becomes a risk to your job to not have reliable transportation.

[@tonypittsburgh9]

I have seen so many people use 40ks for emergency funds. Sad

[@gkdiva6]

Love the advice AND love that shirt too JADE!

[@user-ih9dg3uz5y]

Thank you. I stole it from Walmart

[@SPY_0_DTE]

Giving up a 4 1/2%, 100% company match 🤦🏻‍♂️

[@BlueDauntless]

She’s not giving it up. She’s delaying it.

[@SPY_0_DTE]

​@@BlueDauntlessword it however you want. Either way she's not taking advantage of free money

[@linuxsurfer2002]

The dream team of Dave + Jade! Two issues with the advice here: 1) to have $3m after 25 years would take a 15% return rate per year, which is not reasonable. More likely is around 8% which gets her $1.2mil. 2) Don't pause your 401k investing - ever. You have to fund retirement. Maybe reduce the %, but don't reduce it below what it takes to get the max employer match (if applicable).

[@MrJimmy3459]

Your portfolio is subpar, I do 12% rate of return

[@Hiker2110]

I paused my 401k contributions for about 3 years. Luckily I'm only 30 and left my dead end job for something much higher paying. I hate thinking about the growth I missed, but I'm also proud of myself for being diligent and disciplined about investing as opposed to using my pay increase on things I don't need.

[@strategicsage7694]

A reason to pause on #2 is that when you have debt, you have risk, you have unnecessary payments cutting into what you are able to do with your income. Until you have a proper emergency fund, same problem; you can't handle life if life happens. The idea is that you have to be handling the short-term well before you can prepare for the long-term.

[@Miranda3730]

Where are the $5000 cars? smh

[@jimmymcgill6778]

She should start her retirement, NOW.

[@thesig301]

Bruv did you not watch the video, she cant because shes in lots of debt and has no spare money. She has to clean up the debt first and fix her spending habits.

[@joecross1561]

@@thesig301 No. Saving for retirement (only at the level of an employer match) is more important than paying off debt

[@amireallythatgrumpy6508]

@@joecross1561 No. She needs to make peace with the fact that she will be retiring at the age of 80, just like everyone should.

[@donjohnson1416]

And your plan has been proven for how many years and made how many millionaires? lol. Get out of here your OPINION doesnt matter.

[@jimmymcgill6778]

@@thesig301 She can still do both. It's not an either or.

[@oceansky6207]

Yeah dave! You tell her

[@pmr259]

75k in 9 months. 35k left. All just being stupid tax.

[@AbidingHopeMentalHealthCoach]

We are debt free (including the house, although this time last year we weren’t). When I decided I needed a car that would save me gas money (I drive Uber and Doordash part time), I used some cash I had on hand to buy a $16,000 car. And I set aside the oldest car we owned (a 2005 Honda Pilot) for our then 15-year-old. My husband’s car is also paid for. So we have 3 cars, all paid for. I would never give my daughter (or my sons when they get old enough) a car that has payments. Insurance is high enough for a teenage girl driving a car almost 20 years old. Imagine if she were driving a 2020 car! No thanks! And we could afford that new of a car if we wanted. But our cars run fine; why get something new?

[@Pablo-cs5sc]

It's crazy to see the people that make decent money and are still broke

[@kaitiscarlett9022]

Yes. Ugh... Most of Dave's videos that pop up on my feed are from people with houses, cars, good salaries, etc. and are still clueless. Just once I want to hear from someone who works hard but makes little money, has no debt, and doesn't make frivolous purchases, yet is concerned about saving enough for retirement years. I'd love to hear what advice Dave has for that.

[@euphrates74]

Jade's dramatic reactions are so me! Love her!

[@thirdcoast-nx7jx]

An alcoholic cannot sort of quit drinking and expect to sober up.

[@Behappy-rf8gl]

I love the advice, but my company matches retirement, plus pension benefits. If I stop my retirement, I get cut soooo much in taxes like 1k or more. But if I pay retirement I get cut like 300ish in taxes… it’s simple math for me and my check is actually more when retirement is cut.. I rather pay myself before the government… I am seriously paying everything off. Even while I’m getting out of debt 💸 I still believe in saving for my retirement.

[@carlaritchie331]

If they don't take the advise to sell those cars, analyze the budget... are there places where 3% can be found by reducing their spending more? I mean $20,000-30,000 bonuses really pays down debt quickly if it's used 100% toward that. Get used to having 3% less disposable income.

[@JohnGonzalezFL]

I have two used Toyotas that are paid for, one of which is over 20 years old. Paid cash for that car and it has been the best blessing for our family! The caller should buy a quality, inexpensive used car and drive it for as long as she needs to get out of debt.

[@younk90]

toyotas run forever. I have a 01 tundra that I have had since 02. daily driver

[@33ladyRAM]

I watch these videos to remember what not to do!

[@alexmb8]

It's so hard to not buy a nice car while in debt. Especially when you get a better job, finally making more than enough money. But I watch these vids just to help me stay on track 😆

[@jenniferspisak]

I started a new career where I’m required to travel and it has been so tempting to buy a new car but that debt and these videos keeps me going

[@da11king]

​@BeautyInk&BodyBliss so what are you driving? A hoopty?

[@brycehedstrom374]

Get out of debt no matter what! Paying it off is liberating. "The borrower is the slave of the lender." Proverbs 22:7.

[@derekyoung4637]

She lyinnnn,she out there goin wils wit those bonuses

[@twinchop4581]

That's the part dave Needs to explain more ... We no how to pay off debt But how do we do the investment Part .... Do we put the money in a Flowerpot.....water it & it grows into millions!

[@jeh7079]

Thankfully here in Australia our employers have to put 11% of our gross income into Super ( similar to 401k)

[@Excalibur2]

Does Australia also have something like social security?

[@silvermoneyphoenix1624]

Depending on car loan interest rate, you're better off investing up to employer match limit. Use the rest to pay off cars. Also math is wrong on 3mil with 15% investment rate during 25 yrs.

[@jasonleatherwood2172]

Get a part time job and put the 6% in 401k work 7 days a week till ur debt free then quit the part tine job

[@kellyinfanger9192]

I have a hard time understanding why anyone would pass on a 401K match. That is essentially free money, a 100% return on investment instantly. That's more than even credit card debt. I get it why I am wrong, it is just hard.

[@Cristobal8605]

They’re going to end up using the $ for emergency if they remain in debt, and get penalized for doing so

[@tredekka13]

Dave's energy during this episode reminds me of Michael Corleone trying not to explode at Kay for having an abortion in Godfather II.

[@josephhuman7390]

I like when Michael slowly closed the front door on her while staring at her with the kids behind him..

[@davidsensing2664]

I am on Step 6 but contributing just under 20% to my Roth retirement accounts. I have under $100K left on my house with a rate of 2.7%. While I want to get that house paid off ASAP, I am making more than 2.7% return in my investments right now.

[@Discovery123.]

What mutual fund you guys suggest?

[@drtij_dzienz]

401k match is great but car payments are laaaaame

[@leechburglights]

That was me 20 years ago. I did cut up the credit cards except for one from Best Buy, which was one nice tech present per year with zero % interest and paid off in 6 months. Took 10 years to get out of debt that way. Then went back into debt for second go round at college.😅 dumb! Then went through he'll thanks to a house fire which the insurance only partially covered. I got darn serious then... and in 2 years paid off everything including the house. Now I'm fully funding my 401k in my mid 40s and just purchased a new home with a 15 year payment of less than 1/4 of my monthly income. It will be paid off in now 6 1/2 years. I did buy a new car with cash 💸 and there is no better feeling than being able to live the way I have earned and worked hard for all these years. When you get serious, you'll achieve results!

[@christiS907]

But a 401k is pre tax . Wouldn’t effect take home that much.

[@martinlazar9420]

She is losing money if she doesn’t put it into her 401k. I get not doing more than that until you get out of debt. But this is losing money.

[@ex2vulcano]

What about the interest rate on her debt? Being comfortable with debt is Dave’s main issue. I have that same problem for sure

[@BlueDauntless]

For such a short period of time It’s inconsequential

[@Lighboat011]

Take the match, it’s free money

[@IlliniPicker]

The path to success requires intentional PAIN. There is no doubt about that.

[@PaolaHuezo]

I just turned 29, a little behind on my retirement liking, and still have about $40k in debt with no kids and a homeowner. I could never pay down my debt because of my drinking issue but I’m 10 months sober now and went from $50k to $40k the last few months. I make a good salary at my day job and my part time. I am planning to pay off all my debt exactly a year from now or even sooner, but I am investing just 5% at work into 401k & Roth (my job matched 100% up to 9%) and another amount in my HSA. My thing is, I am picking up extra one serving shift a night (extra $200 a week) so I can invest into my retirement but can also pay down my debt as planned. (Most of my debt is interest free, the largest is 10%) as I believe in this concept Dave preaches but I also think if you can strategize to make extra money, take advantage of retirement because you’ll end up having to put in more a month in the future just to catch up on retirement. Everyone’s situation is so different and this isn’t a one size fits all.

[@diegovargas9956]

You obviously did not hear what he told the caller. They do not teach to invest while in debt, rather pay off your debt then start investing.

[@BlueDauntless]

Dave’s Baby Steps are a one size fits all. If you’re not following them, that’s fine. But don’t call them his Baby Steps.

[@johndone8045]

Never EVER give up company match 401k no matter who told u so Company match is instant 100 % return There is no rush to pay cars off, they are fix rate

[@wbae1340]

Depends on how much you are in debt. In her case she should sell both cars the next day and buy 2 cheap cars and she’s pretty much out of debt. It wouldn’t take long at all to pay the rest off so might as well do that first than start investing.

[@donjohnson1416]

Its for 2 years you drama queen lol. Daves plan has made millions of millionaires lol lol. Go spam someone else.

[@BlueDauntless]

why wouldn’t you rush to pay off those cars? What’s the interest of $40k?

[@BlueDauntless]

@@wbae1340Exactly!

[@johndone8045]

@@BlueDauntless unless they signed up for stupid rate, anything under 3% can be ignored

[@LouisJanYoung]

Soooo many people swimming in debt. They don't seem to really care.

[@umtozzi]

The giggling happy ones that keep saying "yeah you're right" never learn

[@trdhue8121]

I disagree I think they should keep the 10k car bit sell the other 28k car

[@jcszot]

Why isn’t the 18-year-old daughter who is working making her own car payments? I’m 56 years old. I’ve never had a car payment. I’ve never had a brand new car right off the line simply because I didn’t want to be burdened by making a monthly payment. A monthly car payment to me is like paying rent. You might as well live in the car. That woman needs to teach her 18-year-old a little responsibility and feel the pinch of the pain. Now I had a relative help me out a little bit to get out of debt in my early 20s but I did earn half of it to get out of my situation. Younger people aren’t gonna learn unless they feel that pinch of pain! You never forget the pain.!

[@user-mq1hk4qt1v]

I need Mr.Ramsey to post a list of the mutual funds he invests in. I love a lot of what he says but these returns he's throwing out are confusing

[@TShirtAndReeboks]

I have heard him say what he invests in before. I don't remember exactly what they are but I know he invests in growth mutual funds.

[@LeinaVance]

Never down a 100% on your money. Never not invest in your 401k up to your employer match.

[@matshepherd118]

“Turn down free money for no reason.” -Dave

[@Recovery12Life]

I agree with the idea of waiting on the 401k the employer match is probably less than the interest on the debt.

[@Excalibur2]

If the employee match doubles what she puts in, then the interest rate on the debt would have to be 100% at min to compare.

[@sleepyjoe1685]

Never turn down free money. Smile and take the matching 3 percent.

[@user-ih9dg3uz5y]

Banks dont give free money, they freely take ya mony

[@jeffyeager4045]

She's 100% not going to do what Dave said.

[@Lon1001]

She can wipe out the debt this week and then take advantage of free money for retirement, but it means having to sacrifice a very little amount of lifestyle, and giving her adult daughter a little more adult responsibly. Dave is exactly right that if she took this seriously now she will have millions, but if she doesn't change she is going to have very little.

[@austinpeterjohn569]

Lady, get the match! Don’t put investing on hold when there is free money on the table

[@kleindropper]

I love the audible gasp when she says $38K of the $40K was cars

[@Astro95Media]

Because they realize how easy a problem it is to fix. Sell the cars and get beaters for a little while.

[@kaykark]

Caller said she makes 90k + 25-30k in bonuses. She could easily knock out 40k in a year, if there’s not more to the story.

[@user-jt9hi9zd8n]

I don’t have any debt that I know of except student loans and approximately $5,000.00 in credit cards due to loss of income

[@dustinrichards5110]

😂 that’s still debt what do you mean

[@HOLDXSTEEL]

I don’t have debt except I owe like 4 people money 😂

[@BoxingMaster]

I don't have any debt but I just have the $400,000 mortgage, $40,000 auto loan, $20,000 student loan, and $5,000 credit card loan 😂

[@da11king]

I don't have any debts except I owe my sister $2000

[@spooler24]

You have debt 😂😂

[@TheDavidPlata]

I order a Model Y Performance a month ago. My payment will be $750 a month for 72 months with a 15k down payment. I came to watch your videos so I can convince my self to lose my $250 deposit and move on.

[@ryand7713]

Yup.

[@k.c.marshall921]

"Lose".

[@mikea1973]

Just let that sink in for a minute..insanity.

[@todd2456]

$15,000 per year at 10% compounded monthly for 25 years is $1.8M. C'mon man!!

[@Kalvain14]

As always, he's's assuming 15%, which isn't totally reasonable.

[@todd2456]

@@Kalvain14 No, he often cites 12% but even 12 doesn't get to that number.

[@JakeSpradlin2]

I’m sorry but you gotta get the employer match especially when she has 0

[@peartfaldo]

6:43 You catch that people out there;-)

[@venutoa]

Please explain me where math is of 15% of 100k. In 10 or 20 years will get you even 1 million. It's no where close. Even with compounding. 20% of 100 k in 20 years is 400k. What are you investing in to triple your money. ???

[@venutoa]

@@TheAck201 just to make money. He is overselling his ridiculous ideas. Getting out of debt. Makes sense. That's all

[@davidhenzler4981]

This is the one area I highly disagree with the baby steps. This lady should be putting on the 6% up to the match and also getting out of debt, both are possible.

[@Excalibur2]

She should sell the expensive car, get another cheap one. Paying for all that is crazy. I can't imagine driving around a nearly $40k car on 90k income.

[@NeverPullOutInMexico]

i love this lady! she is awesome please keep her on the show!

[@DevHazy]

15k per year times 24 years is only 360ish so he’s only talking about a ton of compound growth happening

[@dasheffield5596]

How many people believe the caller will give up her vehicles 🧐?

[@scotttracy9333]

Not me

[@katyedwards3935]

You should of gifted her with a copy of the class.

[@adamseidel9780]

Missing out on the match is throwing about $5,500 a year out the window. The cars are very stupid, but even with the car payments there should be plenty of money on the budget for whatever is needed. This woman isn’t serious or budgeting.

[@DeepestQuotesAnd]

How does he get from 15% of 90k invested for 25 years up to several millions? I don't understand those math. Seems unrealistic to me even with compound. Anyone can enlighten me please?

[@toddaustin2198]

The caller is only being a little bit Dave-ISH. LOL

[@ominous450]

the cars are low interest debt. I say start investing

[@jloop_2008]

Just get rid of the cars, but you should match your (roth)401k immediately. You're basically getting a 6 percent raise that grows tax-free immediately! That is thousands and thousands of dollars in the long term. My advice would have been to match the 100% immediately and try to sell the vehicles.

[@mattcrouch9348]

Dang, Jade is slaying lewks.

[@roveplanteater6738]

I feel like i am behind since i am 25 and unable to invest right now.... but then i consider the fact that i have never had a penny of debt and will be graduating college without any student loans. I plan to start investing heavily into stocks (beyond the 17% to the pension in NL) once i begin my career : )

[@rodrigorodriguez509]

That might be a bad time in the market. But anyway, what's your hurry? You want to push a lot of sustained effort into something that does not make any tangible difference in your life