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I was struggling last may when I paid my rental off with a final 26k in cash. It was hard letting that money go but the property paid off gave me so much peace of mind.

Rachel, thank you for pointing out that once we’ve amassed wealth, it’s time to enjoy the benefits it affords us.

We are like this guy.He’s having trouble spending the money.When you save and cut back on spending its hard to let loooooosssseeee.I’m a carpenter and could build it myself but still

He could convert to Amish, barn problem solved in 7 days. Cool hat and fresh butter as perks.

Thanks Ray Ray ! We like when you are nice and Dave doesnt chew us out like a red headed step child.

Maybe prices are only going to go up and that’s the new normal…labor is the bulk of the cost of building, not “lumber” itself. Labor costs will not likely be coming down. Just like he probably wished he didn’t wait to build the barn a few years ago for $40k, he’s going to wish a few years from now that he built the barn for $100k instead of the (future) cost of $125k.

That tracksuit. Dave sporting the Yugoslavian drug boss look LOL !

The difficulty is that they accumulated that money by NOT building the barn when it was overpriced, and being patient & waiting it out until costs went down. It's hard to break out of that tendency after likely spending decades living under it.

I think Dave needs to call Dave 😂

Personally, I don't look at my net worth when making decisions like this. Especially when most of your net worth number is built on 2 things. Your paid for house (illiquid) and your retirement money (illiquid) if you're not at retirement age.

I’d sell the house and live super comfortable!! No need at that age to be living in a home that expensive. To each own though

I love how Dave’s co-hosting personalities be giving that type of advice like they have spent that kind of money in the past.,

I want to remodel our bathrooms. BUT the cost, I'm treading it.

I would wait! Things are stupid expensive right now!!!!!👎

Love how Dave has gotta brag.

Build it now and you can enjoy it now. In 2-3 years you will wish you had built it if you wait. What is 3 years of enjoyment worth. Plus it will increase real estate value. Net worth will be even higher if they build.

Inflation going back to normal levels would mean prices increase slowly. Prices going down would be deflation, which is very different.

Just because you have the money doesn't mean it's a good value. Keep shopping around. DIY as much of it as possible. Get creative and find other ways to cut some of the costs. I'd say wait awhile but it's not going to ever be cheaper.

I wouldn't spend that kind of money for a barn, unless it was say part of a farm and would be a productive asset. A lot of people have an impressive net worth right now because they've been riding one of the greatest (and longest lasting) bull markets (in both stocks and real estate) ever seen. And while markets have a long history of going up over time, they also have a history of precipitous drops that could cut this guy's net worth in half in a period of months. If you can get your net worth cut in half (and the barn is still no big deal) then I'd say go ahead and build it.

This guy is going to still over think it and should wait one year.

Nothing goes up forever. Their will be a house abs property market crash.

100k for a barn? How big is it? You can buy a shed at home depot or lowes for like 20k.

Inflation literally will never go down. It goes up each year. It's just gonna slow in the future. However, the current prices will be the same in the future. We just skipped 5-10yrs in the future to right now.

He’s been listening for years and didn’t know the answer because why???

You can wait to build your outbuilding

Maybe the caller is edging toward stingy, which is loosely hinted at here. Hard to know, without info about his current & future budget. Does he support an adult child with profound disabilities? A grandson on a third round of rehab? Are both in-laws infirm plus senile - and living in the guest room? With nursing aides coming & going all hours, at $X dollars per month? Maybe, maybe not. But the wealthy I know often have friends & family with hands out. Just saying. This dude doesn't want to be suckered. We all feel that way, sometimes. Needling him over this didn't help, IMHO. That $1.7 mil. might be better spent, or saved, in this case.

*Everything reeks inflation in the economy.... I don't know who, however a person desires to pay attention to this, you have to stop relying on the government and saving all of your money . Venture into making an investment a few in case you actually want monetary freedom**

This is crazy that ransey thinks in 36 monthsnits going to be better?! Insane. Folks inflation is gonna get worse...

Blow money 20%

Is the caller actually spending wealth? No, he is not! He is merely transferring wealth from cash to a building that is more valuable than the money spent. Whenever we add a building to our rural estate we project the addition to increase the value of the property. We generally estimate the addition to be worth more than 125% of the project's cost. So, the addition becomes another means of building wealth. Anyone doubt this? Would you build another garage at your house and think it doesn't increase the value of your house?