Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

@@PilouBen 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.

@@lennoxmutterick6434 Oh please I’d love that. Thanks!

@@PilouBen Clementina Abate Russo is her name.

Lookup with her name on the webpage.

That is also assuming 20% down payment and a 15 year fixed mortgage rate.

Well put 😔

This

Don't forget first 3-6 months emergency fund and closing cost

Dave's lessons aren't about being average. Who wants to be average?

The principles on Dave Ramsey’s show were developed when he himself was coming out of bankruptcy. The “principles” work regardless of income level. But they are not popular or easy. Here are some hard numbers Based on Household income of $70k • your income earning ability will help solve the problem. Can you work overtime? Can you earn $200 more per week? Keep asking yourself questions about increasing your income. • there’s a price to pay to become a home owner. There’s a price to pay to remain a renter. Embrace the choice that demands a bigger sacrifice. Your reward will ultimately be bigger. • cut your lifestyle to zero. (I started cutting my own hair, wife started perming her own hair). Cut cable, Netflix etc Zero subscriptions, zero entertainment for 2 years. Zero gifts. All meals will be eaten at home. You will look broke. You will be mad that you can’t spend your own money. • your friends will think you have lost your mind. • Try to save $12,000 to $15,000 per year ($1000 to $1250 per month). • Tax refund is saved towards your down payment. Every bonus or raise is saved • Open a special savings account for your down payment at your credit union Start looking at townhouses and condos under $160k. If you buy a house more than 2x your annual income. You will be house poor. Those are the facts. • Working 16 hours a day (6 days a week) becomes normal. • Listen to podcasts read books invest in your career and ability to earn more. • Start asking “who makes $100k per year?” Keep asking everyone until you find 5 or 7 that can mentor you • In 24 months you will have $24,000 (your down payment). In 36 months you will have an additional $10k (your emergency fund) • use the next 36 months to clean up your credit (your credit union will help you) • buying your house is do-able. • the 36 months you used to prepare is a warm up. Now you got 15 years to OWN IT. You know what to do. You know why you are doing it. The sacrifice is the price. Let’s Go. You live in America. Time to OWN your piece of it Best of luck.

A guy called in making 75k as a teacher a while ago. They told him “sorry sucks you own nothing and be happy get a better job”

Exactly

I always thought my home was just a home and paid it off quickly. My primary and beach home is not an investment. My homes weren't given to me and not a blessing. Had the money for upkeep and maintenance. Didn't have to "come up' with anything because I had savings,investments,and emergency fund beforehand. Called planning. What little maintenance I've had so far haven't reached even half my annual salary in over 25 years of ownership and that's including part of my monthly HOA fee.

@@blackworldtraveler3711 I agree, have moved a few times but have always been able to take care of anything that came up without it causing a problem; planning is definitely the key.

@@blackworldtraveler3711 keep tooting your own horn

I agree with you. 🙂🙂 🤫🤫Don't tell everyone. 😆😆😆😆😆😆😎😎😎

You have to be kidding.

People who makes 6 figure cannot do basic math is very upsetting.

I know right? Cry me a River.

Yeah, I’m so sick and tired of everybody in the state complaining about having 200 for you really most people make 60 a year here unless you’re a doctor in IT tech. I live in Colorado and I hate it now they ruined it. They turned into LA.

If you follow the rules of 25% of take-home pay and 15-year fixed mortgage. Even putting down 20% . The only people that would be able to afford a house are people making over 200 grand a year.

Dave has been getting callers making from nothing to over $400k since I've been listening in the 90s. No gun to head. Don't like don't watch.

@@blackworldtraveler3711 okay. I won't watch then.

@@blackworldtraveler3711 We have had a ~week of +$100K's I agree with you, how about a mix? HINC-04, US Census Median household income was $101K, married with children under 18

If you’re making 60k, you’re probably not buying your first house right now. That wouldn’t be a very interesting video.

60k a year you both need 2nd and third jobs. American dream 2.0.

Always been a reality everyone won’t be owning a home. Many people can’t afford to buy the house they want and really nothing new. Been going on since the 80s. There are many foreclosures and short sales so many have tried. Don’t even have to be a house. Don’t need to have granite island kitchens,two car,bed/bath per child,and duel bathroom sinks. Can always rent or lease. Live with parents like many here like to do. Many options.

@@blackworldtraveler3711 Can always rent or lease? You may have to leave. My $50K in 2011 is now $500K Rent in the hood was $700, Now $2400 My neighbor was at $1400, raised to $2300 He now commutes 40 miles one way, $1800/mo

This is also what I was told when I bought a place 20 years ago now. "You can't afford it.... You can't do this, you can't do that. It will never work, etc." Mathematically, it works out about the same. And people throw perfectly good stuff away now more than ever that can be used to furnish or otherwise improve the home, used to mow the lawn, etc. I am sitting on the couch right now looking around... Free refrigerator over there in the kitchenette, free television, free microwave, a $2 toaster from a garage sale. My weed whipper was free, rider mower was free, the cars outside were less than $5,000 each. $free$ speakers for better TV sound, $free$ Blu-ray player, free pictures on the wall, free window blinds, $4.00 garage sale shoes, free laptop computer, my phone bill is $25/mo, and the phone itself was free, too. I dunno. I don't see things being, on average, more expensive than 20 years ago when Craigslist was barely a thing. The same jobs I would have worked back then are paying literally double. People's financial problems these days are due to not working enough and/or overspending.

They could if we built smaller houses

Yet many people do. Strange.

that is so right !!! that s crazy

Which baby step is that?

Foreclosure happen everyday. That’s what he is try to protect people from. But we live in a free world. You don’t have to follow his advice.

😮😢😂😂😂

​@Dividendflywheel Exactly! I think people forget that Ramsey is trying to help people not fall back into a poverty mindset. So, folks can go buy a house while they have debt if they want to do so, but they will probably be stressing over money still in years to come.

Yep. I'm single with 20% down payment saved up living with parents and was hoping to leapfrog straight from home to a townhouse. But these prices and rates are awful. Made the hard decision to apply for a 12 month lease somewhere to rent until next year's market.

@@wtDrake and the idea of getting a 15 yr mortgage is absurd. $400k at 7.5% for 15 yrs with a 10% down u are looking at $4,400 a month!! Not counting bills and maintenance. Why does he keep saying that?

@@theforeignerinamerica1817 He says this because there are cheaper homes in the U.S. and up to you to decide.

@@wtDrakeBruh you’re too old to be living with your parents 😅

What if you're single and make 400k annually? 😏

For real bro I don’t know how they stand it.

Even his own daughter

He's also wrong. 240k after taxes is closer to 13K a month, not 15K

It’s not impossible but with the price of houses and stagnation in wages, only the top 20% of earners can afford a starter house these days

Homes are being bought and sold everyday so not impossible. Just impossible for people who can't afford what they want.

Only if you live in an expensive area. Houses are cheap as fuck literally everywhere where but where the people who complain live. They need to stop being afraid of a commute.

@@xenn4985 that is an ignorant comment. I agree with and live by Dave’s principles but 80% of Americans live in or by a city and that’s where work is. An hour or more commute into the city is not reasonable

@@tylersanders2388 alright let me make this real simple for you. There is work, elsewhere... If youre having trouble affording an area, leave the area... No amount of excuses will change the solution...

That's why most ppl live pay check to pay check

Sure, and 98% of people are broke.

Exactly and if rates don’t go down sooner I can see folks walking away let alone, student loan, if they can’t afford the student loan payment that’ll start in October of this year

@@Blessedandhighlyfavor they had a chance to pay their loan when it was zero percent. But they waited on a handout

@@Bmc2021 While I agree with your comment, to say "If you can't afford the payment, you should've paid it off when loans were at 0" is an ignorant comment. They can't afford to make payments, so what makes you think they could've afforded to make extra payments when they were in forbearance? We can talk all day about how they shouldn't have taken out loans in the first place, but too late for that.

Sell and buy it back

The monetary part of it is almost exclusively what determines if you’re ready to buy a house. If you have zero debt, have a fully funded emergency fund and a large enough down payment for a house within your price range without dipping into your emergency fund, you’re ready to buy a house

I would find a job in the workforce before selling the truck. Try to do both and see what happens. Good luck.

@@jordanmadden7388 thanks

Most would but ya healthcare blah blah

Canadians are screwed with Trudeau. Taxed to death

wow that is crazy lol. Canada is abusing u guys all the ways possible

And then Canada has such ridiculous restrictions on mortgages. You have to rent for essentially x2 a mortgage because you can’t qualify for the mortgage because “you can’t afford it” all the while paying more than that in rent. I wish I was joking.

No he did not. He literally said the house payment is principal, interest, insurance, taxes and HOA fees

Hey, heres a thought. Dont live somehwere you cabt afford?

​@@xenn4985lol yup

My mentor once told me “there’s a price for wherever you choose to live”. Another mentor told me “focus your time, energy and mental resources on things you can change (or control)” We’ve all heard the story of the frog in a pot of water that is (imperceptibly) getting hotter and hotter. Just a little more un- comfortable with every passing hour. Stay Hungry my friend

​@@xenn4985easier said than done. Typically wages fluctuate with the states cost of living. First they would need to save for a down payment in the state they want to move to. Find a house they want in that state. Then before purchasing that house find a job with a comparable salary to what they have right now. Manage the move and leave family behind. It's possible just a lot tougher than people act like it is. We're also talking Jersey which is not as bad as Cali or New York... yet. But we're usually like 2 or 3 years behind Cali so keeping that in mind I need to get out of this state. The above is my plan. Currently I am very close to paying off all my debt. Got about 10k left of student loans. Car's paid for. I'll probably be saving for a house for a couple years and hopefully the markets crash and I can get a lot more house than with the current market. I'll be leaving my parents as they are getting elderly which I really don't want to do at all but I gotta live a life at some point. Every dollar I work for has been going to paying off this student loan debt. I don't go out to the bar or eat out. Hopefully I'll be out of their house by the time I'm 33, live like an adult and be able to enjoy what youth I have left.

Thankfully the wonderful liberal states have legal price fixing on taxes and insurance increases.

He's one of the very few that are still in touch.

To buy the house my wife and I own today on a 30 year mortgage with 5% down your payments will be $7800 a month and down payment will be more than what we payed for house 33 years ago. Housing is broken in the US.

False. This housing market is going to crash. Many people and even investment companies that bought over the past 3 years are going to be in for a rude awakening when they're all in negative equity. The market is completely unsustainable people cannot afford houses so either the prices need to drop to reflect what people can afford or wages need to increase substantially.

​@@jlava1575I think that heavily depends on the area. If your area has true demand for homes you won't see a crash. Regulations have changed a LOT since the early 2000s. It's harder to qualify for a loan.

@@sweetseve1150 it's not that hard to qualify for a loan. I could have qualified for a $300k house and put 3% down and would have been paying half my takehome towards the mortgage. I know many people that have done that to lock themselves into a low rate. But now their property taxes have gone up, their home owners insurance has gone up, groceries have gone up, gas has gone up and their student loan payments are starting up again soon. It's going to get ugly real quickly in this country.

@@jlava1575so where do you live then? Do you own a home or rent?

Dave is not the one buying the home. People need to put down the Brawndo and be more proactive and responsible with their purchases.

Yes he does, you whiney crybabys just dont do the mental work to get to where hes expecting you to be.

Out of touch

​@@roolyfeOut of time

@@blackworldtraveler3711 😂 Dave is not the one buying the house. You right. His baby steps = common sense. But we live in a free country. Where people put themselves into financial slavery. Go figure.

Living in expensive areas,debt up to eyeballs,keeping up with the Joneses,FOMO,YOLO,etc. and things like divorce fleece,weaponized child support,etc. will do that.

@blackworldtraveler3711 thank Gosh non of that applies to me.

@@flexanesthesia7869 It really shouldn't apply to anyone.

🧢

Almost 30k/mo income and you'd lose sleep over your housing expense (generally a person's biggest) being 4k/mo? That's incredibly conservative, but congrats on being in that privileged position.

Based of Ramseys program with either take home my home payment should be no more than $2,200 or $3,431..in Cali, yeah good luck 😱👦🔫 dead.

Use your net take home after taxes. That is the only amount that you have access to. Also, do not take overtime into consideration or special projects.

What did you make on your W2 last year? Multiply your gross income by 2. That number is the maximum house you should buy. Example you make $100k per year (multiply by 2) = $200k Your income dictates you should be looking for houses in the $180k to $240k range. Assuming you have $40k down payment (for the $240k house). This formula will allow you to OWN the house free and clear in 12 to 13 years. Then you can move up in house using 100% equity in your current house to buy a $400k house.

it would be 25% of net pay

What is the cheapest price of a home that you can pay cash or willing to live in? Can you buy a second within two years and rent the first one out. Can you buy a third house two years later and rent two out. My dream was to have 10 house by age 40, but I was divorced at age 29 .🤫🤫🤫🤫🤫🤫 Still happy. 🤑🤑🤑🤑🤑🤑

What a delusional comment.

You would need $125k down and a take home pay of about $16k a month. Around a $250k/yr salary. That is far from the average person.

Don't be average. Don't follow what others do. Don't buy a $500k home.

The average family should not buy a 500k house lol. If your budget is a Civic don't buy a Mercedes S Class.

I swear you people confuse the shit out of me. 500k house? MY BROTHER IN CHRIST YOU ARE BUYING A HOUSE LOOK ELSWHERE WHERE HOUSES ARE NOT THAT EXPENSIVE

This guy makes more than an average two income household. This is not a struggle to him.

It’s the callers job to know the math since they're the ones buying a home. If the caller who can't do math want more details stop going cheap and get the real numbers with a good CPA.

15k should be about right accounting for taxes only. Since they’re married they’d have a marginal 24% federal tax rate.

​@@blackworldtraveler3711your always defending Dave odd????

@@ginoturano6821 I’m currently on a train from Rome Italy to Lugano with good Wi-Fi and a lot of time on my hands. Just common sense to me. Why would a debt free multimillionaire need any defending by anyone? This is a cash cow for him and I am a Google shareholder of 14 years.

@@The1Weapon Wrong. I take home 58% of my pay after taxes, medical, 14% 401k etc. same tax bracket.

Then the monthly payment will still be more then 25% of your take home at 15 year fixed

@@KICKSBLVD This why it’s important to increase income every year. They should consider inflation and keep to their savings goals, but never stop growing as a person in all aspects of life.

Exactly.

My house was $50K in 2011, $500K now In 2032, $1MM+

He said he had a family. I thought he had a wife and 1 kid.

Mine is Roth,aftertax,and pretax. Not surprised many don't know there are three contribution options for some.

Roth 401k is after taxes

Most people don't have a clue what they bring home.

​@@amireallythatgrumpy6508that's not true. Most people know to the dollar what their gross and net is, especially if you're making over $200,000.

False. You are assuming Americans are intelligent people. They are not.@@sweetseve1150

How did you get the money for your first home and how did you triple your investment?

I worked my ass off with 2 full time jobs and extras on the weekend. Saved up 25k and handed that over to my financial Adviser to put down and for investing. So I continued working my ass off and in less than three months I was able to lay my hands on my first property.

Credits to *ROCH DUNGCA-SCHREIBER,* my fin. adv. who has always had my back all through the process of working and investing. You can glance her name up on the internet and verify her yourself. She has years of financial market experience...

The only way I was able to scale through all of this without stress was by working with a financial adviser. My adviser *ROCH DUNGCA-SCHREIBER* has always had my back all through the process of property investment and investing in general. You can glance her name up on the internet and verify her yourself. She has years of financial market experience.

I've been telling people for years it's a planned global depression. We're in world war three now, once it goes hot beyond Ukraine, they'll let their fiat systems collapse, and blame the expanded war on it. They're slow rolling the digital system so they don't scare away all the sheep.

Or buy a smaller cheaper home you can truly afford. Or rent.

You’re both right. I’d say buy small and continue to upgrade, just like buying a car.

@@handleyobusiness Yup. One of my friends bought a newly remodeled two bed two bath garage apartment style condo with in unit laundry room and nice island kitchen for $160k near me. He makes about $105k/yr currently where I used to work and will reach $150k in a couple of years. With a down payment and 30yr his monthly payment is $550/mo. and plan to pay it off quickly.

@@blackworldtraveler3711 Nicely done! That’s the way to do it, income outpacing expenses.

@@blackworldtraveler3711 So many folks have made up their mind to prove Dave Ramsey wrong. They miss a tremendous opportunity to learn. Wealth starts with knowledge and experience before it is transformed into any material form. By rejecting and arguing with Dave they are just reinforcing the status-quo in their lives. 😂 Those that know, know! Those that are eager yo learn will learn. Those who have all the answers (go start your own show 😂). Just kidding Find a system you believe in, then immerse yourself in it until you achieve the results you want. Life is too short to be nit-picking what others are doing. Especially when millions have already proven it works. Just my 2cents.

That leaves you no room if you experience a sudden emergency or a layoff.

Exactly! If you live in a high cost area just be prepared to pay a larger portion of your income to housing. Paying 35-45% on housing when the caller is making $250,000 is still a lot left over for vacation, and other expenses.

@@sblijheid If you have a six to twelve month emergency fund, you don't experience emergencies, just inconveniences.

The only thing that proves is it would be ridiculous for most people to even consider buying a house right now.

​@@amireallythatgrumpy6508that is ludacris on its head. The assumption is that if they don't buy they're going to save money. That's pointedly wrong. They're going to end up paying market value in rent as the landlords raise their rent. Eventually the place they're renting from will cost the same as the average mortgage rate in the area. Renters in my area are paying around $3200 a month. They are absolutely shocked that my mortgage is $1200 a month (that's the entire PITI payment). It's worth more than double than I bought it for. If I had to save up like he's suggesting I would still be renting. I'd probably be spending $1500/month to live on the not great side of town in an apartment.

@@sweetseve1150 The obvious is ludicrous? The assumption is that they won't keep their house for very long anyway. What you're not accounting for is that many people who buy a house before they're ready lose their house to foreclosure a few years later. And then they either have to rent for life or buy a more expensive house later on ANYWAY. So buying a house now has saved them nothing. This is going to be a very common occurrence in a couple of years.

Because he lost everything, then figured out the traditional mindset on how to gain wealth is flawed. Then he earned millions and if he did buy her house, what father wouldn't do that for his daughter? His principals work, and people just don't like to practice financial discipline to get out of debt. That would mean delayed gratification in a society that wants everything now.

It's really their business what they do. Think on your own. You don't need to allow what others do handicap your personal life and finances.

So?

Nothing wrong with that. Just because your dad was so irresponsible with money that he didn't set you up on a good foot when you started out, doesn't mean that other people should be bashed for having good dads.

Rachel's house was maybe a wedding gift and Rachel pretends to have paid it off. Keep in mind it is all relative. At Dave's financial level buying a house is probably the equivalent (net worth wise) of a weekend trip for the higher income individual, if that. But like the other comment, it is really none of our business.

And the carrying costs on that house depending on the area could be $12000-$24000 in property taxes annually.

That is true of anybody at any income level.

What if he can't spell 'loses' ??

@@todd2456 thanks for the correction.

@@stevenporter863 that’s exactly my point, you shouldn’t over extend yourself, paying too much for a house will come back to bite you.

Dave’s blood is boiling rn

It's more relevant than ever.

@@amireallythatgrumpy6508 boomer has entered the chat lol

@@MrRubme Millennial, but thanks for playing. The reality today is the market itself should be irrelevant to most people. It is asinine to even consider buying a house in 2023.

That's not how a crash works. It's a sudden instantaneous event by definition. If it's begun, it's essentially over. Anything that declines over months or years is not a crash by definition.

Why will I lose it? If I get a home I can afford a crash has no bearing on my ownership. My house lost almost half its value in 2008-9, I was crazy upside down, just kept making my payment like I always had. was back to normal around 2013, now has more that tripled my purchase price.

@@jhondoe1483 Great point. I just wouldn’t want to buy a maximum high price home right now when we know they are coming down in price and will continue. If you don’t lose your job and can afford the payments being under water won’t be that bad. I’d just rather get a deal. Anyone buying a home today that they can barely afford now, will likely lose it over the next few years.

@@amireallythatgrumpy6508 It is a slow process when home prices drop. It took 4-5 years for the GFC to take down home prices. I would rather buy once the prices are more reasonable. That’s my only concern.

@@georgeorwell3501 meh, if you’re buying a home you can’t afford the market doesn’t matter. Markets can’t be perfectly predicted, the only thing I can 100% guarantee is that At the end of the day real estate will increase in value over time period end, if you buy today your home will go up over an extended period period. Timing the market isn’t possible. House prices fall because of oversupply usually linked to a drop in buying power historically because of interest rates increasing rapidly (doesn’t make homes affordable it makes them more expensive over the length of the loan)

Because you can be assured the government will get their taxes. Everything else are commodities you choose to have deducted. It's a formula to help you decide how much house you can afford. That doesn't mean you have to buy that much house. That doesn't mean you can't factor in those other things if that gives you better peace of mind. In the end, you do you, boo

@@Winnie-Kay It should be after that. Not before.

I see both points. But before insurance deductions? Retirement savings? Personally retirement savings is more important than buying a house. There is renting and refinance but no retirement options. Homes should really be bought with wealth instead of to build wealth after typically 30+ years.

​@@jimmymcgill6778no

@@Winnie-Kay you choose to have deducted. ???? My employer takes 20% for a pension fund, NOT a choice.

Our beliefs are transformed into the reality we experience. More people became millionaires in America in 2022, than in the previous year. These are average BlueCollar Americans. Find out who they are, and copy them. 1. You are living in one of the wealthiest country’s on earth 2. You are living in the wealthiest period of human history going back 2000 years 3. If you cannot see an opportunity to create a future you want. Find people who are doing that. Surround yourself with them. Copy them. 4. Out thoughts are inevitably and ultimately reflected in our external lives Best wishes on your quest

Let's be realistic. If they can't afford that they cannot afford a home at all.

@CindyGuzman-xl5ui that’s great I guess you know a professional investment advisor as well

Scam thread.

@@blackworldtraveler3711 Stop deceiving people from following the right recommendation because you invested wrongly.

How do you earn that much

Why do you do

I earn from investing in the digital market with the guidance of Mrs Elizabeth Ann Larson Brokerage services...

Her strategy has been helping alot of traders/ newbies out there , with her program I was able to recover my losses from the crash so swiftly .

I'm 40 and have been looking for ways to be successful, please how??

Dave Ramsey’s plan is designed to help the home buyer to become a home “OWNER”. Translation No mortgage. No risk of foreclosure. • The 15 year mortgage is designed to shorten the period of indebtedness. In other countries a 5 or 10 year mortgage is considered generous. Serious homebuyers pay cash. • It also reduces the total amount of interest payments the homeowners make. This is a subtle transfer of wealth from home buyer to the mortgage company (over 30 years) • Those who follow the plan (like we did) get to keep and invest more of their own money. • The banks approved us for property equal to 4x annual income. That is a recipe to make money for the banks over the next years. • Just as making minimum payment on a credit card makes the banks and credit card companies richer. A 30 year mortgage is structured to “maximize” the interest payments made on the loan. • At the end of the day wealth flows to owners. Whether the owner is a landlord, mortgage company or homeowner (without a mortgage). Wealth flows towards “owners” of assets. A mortgage is an asset to a bank, and liability to the homeowner. Best wishes.

You've already joined - you're here.

But you joined the America cult.