It really seems like having a car payment is the main thing that keeps people in poverty
@amongallothers4 жыл бұрын
That and children yeah. And having POS children that have children and dump them off on their parents.
@heididiego37194 жыл бұрын
Yes I'm in that situation for over 20 yes ! What I mean by that is that I'm constantly changing vehicles every two three years . I never finish paying a car. I get the twoish itch every two yrs. And just days ago I've just realized what dumb decisions all this years. So I'm done !!!! Ive set finally my goal you finish paying off this car. Got two more years to go.
@sandrab.35384 жыл бұрын
@@heididiego3719 Good for you! This decision will make a big difference in the long run.
@LTJuni0r4 жыл бұрын
Usually. It's not bad if you have a car payment for a few years and keep the car for 10+ years.
@marksweetser63124 жыл бұрын
@@heididiego3719 where is it in your debt snowball? Knock that thing out
@financiallift61854 жыл бұрын
People don't want to drive a basic used car because it feels good to have a nice car to show off. But that good feeling wears off fast while the joy of being debt free is lasting
@bigwen51354 жыл бұрын
Well stated and something to live by!
@user-wf8xi5fs8r4 жыл бұрын
We got stuck with car payments because we didn’t have cash to pay up front for a used car. This is true for most people. It’s easier to make $200+ payment monthly than have cash to pay for a car unfortunately.
@financiallift61854 жыл бұрын
@@user-wf8xi5fs8r I believe that is true for a lot of people but having a car payment is different than having a car payment for a car way out of your reach. I see lots of people driving brand new Camry when a used Yaris is just fine. And I don't even totally blame the person. Car salesman are good at upselling. They wouldnt be in the business otherwise
@carlosmartinezz30224 жыл бұрын
Yeah, impluslive buy hurts long term😭
@thelastmemphian4 жыл бұрын
Many people believe that buying a brand new car means they won’t have any problems with it down the road when it’s out of warranty. Every car, new and old, domestic or foreign, will have something go wrong eventually.
@DJ-ws6je4 жыл бұрын
$860 per month for a 4Runner? You better be living in that car because that's rent money.
@avocadogaming39424 жыл бұрын
TRD pro maybe?
@unfairsanic50894 жыл бұрын
Lolz my rent is even lower monthly price than that
@unfairsanic50894 жыл бұрын
@Atty. Johnny Sins Personal Finance im independent, and I live in texas so dont judge it makes you sound like an amature
@mrsloth_88204 жыл бұрын
860$ a month for rent? In what city? Almost double that most places near me
@user-tb7rn1il3q3 жыл бұрын
D J Negative equity from a previous car. 4Rs aren’t 860 a month unless it’s a short term.
@Tr1Hard7774 жыл бұрын
I cant imagine not having anything saved up by 70.
@Sombra_Azul_4 жыл бұрын
Yeah, this is very odd to say the least...
@davidmmm84 жыл бұрын
Straight up.
@nicholasavis17054 жыл бұрын
He was retired military so he gets about 30k y/r plus free healthcare they’re fine
@JamesDJohnson4 жыл бұрын
Right
@Mr.Mrs.Smith.4 жыл бұрын
@@nicholasavis1705 Yep.
@Christof7084 жыл бұрын
Someone told me that “bills don’t go away, so might as well drive something nice” Stupidest statement ever made.
@ELBarbarro4 жыл бұрын
Then I opened my eyes and realized the bills DO go away I make them go away....what?!?!
@Christof7084 жыл бұрын
Plant Strong Bro 🌱💪🏼 best comeback ever! Right on! 👍
@Sombra_Azul_4 жыл бұрын
Literally the dumbest thing I've read all day!
@Big-Government-Is-The-Problem4 жыл бұрын
paid off house with free (after initial investment) wind, solar or hydro power=insurance and taxes as your only bills. so technically bills never go away, but you can get those bills to be pretty low.
@khoado1234 жыл бұрын
that's why dummies think it's ok and normal to be broke.
@SteveRam4 жыл бұрын
Saved up purchased my cars cash. Not having a car payment is a blessing. Definitely something worth working towards
@tinalindsey15984 жыл бұрын
My eighteen year old son didi the same for a brand new car. Shopped best vehicle, best price, saved up working minimum wage, lots of hours and surprised the dealership with cash. Start them young folks.
@shaloon644 жыл бұрын
@@tinalindsey1598 I hope he keeps that vehicle for a loooong time. Well done to him
@sarapohl7424 жыл бұрын
There is a video from a gentleman named Kevin Hunter you may want to check out about car buying in cash. He gives you tips on how to get the best deals and strategies at dealerships when buying a car. Figure it's good advice for the future.
@tinalindsey15984 жыл бұрын
@@shaloon64 He said he's going to keep it ten plus years.
@tinalindsey15984 жыл бұрын
@@shaloon64 thanks! Yes, ten plus years!
@SherryEllesson4 жыл бұрын
"I just learned he doesn't have much in his 401K...." So they haven't talked about retirement funding as he's pushing 70?! Right.
@betruetoyourself71624 жыл бұрын
Choco Wine I am scared too. Calculating every year how much we need to retire. Telling my spouse we need to work til 65 At Least. Checking my accounts to see when will we be on tract to never go into one of those state care homes. Good luck to you. I hope more people start saving now
@thedude50404 жыл бұрын
@mizzmolly I wouldnt be so mean on someone for not knowing sq footage. If you are going to be settled for a long time, why does it matter? home sq footage can mean different things. Do you count the 3 bedroom s in the basement?
@thedude50404 жыл бұрын
@@devilsadvocate7059 hey at my first job as a bagger at kroger a women who in her late 60s retired. Worked at kroger for 50+ years never rising past shift lead/customer service . She rented her whole life. She used the employee programs to start retirement account. She retired with $600k+ and no debt. She then bought her first small home all cash. In kansas its not hard to find a cheap home to retire in when you dont have to worry about being close to work. She encouraged every new hire to start an account even if all you could contribute was the min $5/paycheck
@mecheckraise4 жыл бұрын
@mizzmolly no. She knows EXACTLY how much money they have and EXACTLY where it is going and EXACTLY how much he was putting into retirement. She just wants to play the victim now. You have to feel sorry for idiots like this some but NOT MUCH! They just bought an expensive new car with him turning 70. This lady is out of control and needs her head examined. On top of it she is spending all this money and NOT working. I am amazed at the financial suicide. I am a millionaire and will never have a house over $200,000 or a new Toyota 4-runner. I never did hear her say anything about going to WORK, a 4 letter word.
@thecatnextdoor124 жыл бұрын
She married him for love.
@nkyryry4 жыл бұрын
You never... never... NEVER let your CDL expire. It’s a $50,000 a year job in your wallet.
@cm012 жыл бұрын
at 71 who knows how much longer he'd be able to renew his medical card for.
@angeluceta56882 жыл бұрын
I wouldn't drive even local home everyday for less than 100k lol.50k is probably 25% and below pay
@jfraz_7720 Жыл бұрын
right ! its an extra 20$ every time you renew your license. you might as well keep it even if you never plan on using it. can come in handy one day
@jasonwilkins1969 Жыл бұрын
@@jfraz_7720 as someone who represents CDL clients as an attorney, a CDL is an expensive liability if you are not using it. If you happen to get a ticket, what may have been a simple payment for traffic school or other diversion programs often turns into a much larger affair. Due to the anti masking rules, most affordable ways to keep tickets off your record are foreclosed
@Dr.Ticklebum69 Жыл бұрын
@jfraz_7720 20 bucks plus like another 120 or so for the med card the dmv demands to see before you can renew plus lost work time for the dmv and doc appointment because you can't renew a cdl online, at least in my state. Pain in the ass if you're not using it or planning to use it, and with the way drivers are getting treated right now I'll be happy to downgrade.
@03mta4 жыл бұрын
This is so sad and everyone should pay attention now
@thecatnextdoor124 жыл бұрын
That’s why I watch this channel to see old people’s problems and prepare ahead.
@lunganikhubone25954 жыл бұрын
@@thecatnextdoor12 The same thing Jay Shetty talked about to fast forward your life and ask yourself is this what I want to be?
@dancalmpeaceful39033 жыл бұрын
They are too poor to "pay attention".....
@lipglossed4 жыл бұрын
To Everyone: PLEASE stop financing expensive cars. The fact that a lot of people think even $400-500 monthly payments is "not bad" is crazy! $800/month is completely insane just to have "a new car" for your image and ego.
@Big-Government-Is-The-Problem4 жыл бұрын
400 a month for 40 years if invested makes you a millionaire at a 7% average return, so yeah its absolutely stupid to be spending that on a depreciating item like a car. i know people dont make car payments for 40 years, but you get the point lol.
@XFizzlepop-Berrytwist4 жыл бұрын
CARRY YOUR FIREARM TO STAY SAFE DURING RIOTS 2020 Well it would have to be an extremely consistent 7% Because if it was 5% it would be half that, its crazy how big a difference 1-2% can make in the long term. XD Buy you are correct, you would be a millionaire with a constant 7% at that rate.
@bighands694 жыл бұрын
It all depends on how much you earn and save.
@kerwin3923 жыл бұрын
@@Big-Government-Is-The-Problem toyota is offering close to 10 year terms on cars now so who knows maybe we will see 40 year car loans lol.
@ajoyforlife13 жыл бұрын
@@kerwin392 😯😱🤯
@chookchack4 жыл бұрын
Lesson for today’s young studs to plan for the future, my god, he’s turning 70 and still grinding. They should already be sitting with their grandkids getting pension every month with a decent paid off house and car.
@samadahmed78044 жыл бұрын
It's crazy. I'm 45 and I already retired. Got a pension of 75k a year. Sucks to be that old and still working.
@chillnick18654 жыл бұрын
Samad Ahmed What did you do for work? If you don’t mind me asking? How long ago did you retire? Thanks.
@Tigerkem4 жыл бұрын
@@samadahmed7804 what career was that ?
@michaelb.89534 жыл бұрын
@@Tigerkem He's not going to answer you as he has the exact same comment word for word all throughout this comment section. I think it's all BS!!!
@samadahmed78044 жыл бұрын
@@chillnick1865 I was a LT for the state police. Worked 20 years and retired about 2 years ago.
@eyobbaissa67594 жыл бұрын
In my books..A person with NO DEBT is a rich person!! If you manage to stay debt free, I'm here to tell you that you made IT!
@MikeNapoli1989 Жыл бұрын
I agree!!!
@BigBear814 жыл бұрын
My wife and I just paid off 28k in car loans in under a year. Now it's time for the 3-6 month emergency fund. This stuff works!
@jesusgutierrez89074 жыл бұрын
How?
@BigBear814 жыл бұрын
@@jesusgutierrez8907 Tax returns, overtime and extra side jobs. It wasn't easy but Ive had enough and I wasn't going to let anything stop me.
@bradaston60564 жыл бұрын
Good man
@bighands694 жыл бұрын
@@BigBear81 What age (as in decade) are you if you do not mind me asking.
@BigBear814 жыл бұрын
@@bighands69 38
@JustineCarissa4 жыл бұрын
I'm trying to pay off my used car by next month. Only $4106 left until I'm debt free!
@w1lsons4824 жыл бұрын
👏 👏 👏 That's great!
@leawolf20784 жыл бұрын
Yeahhh well.done!!!!
@prospersis45404 жыл бұрын
Yay!!!👏🏽👏🏽
@chezshirecat18724 жыл бұрын
You got this-great feeling to be free
@---cr8nw4 жыл бұрын
Why is that ironic?
@CaseyBurnsInvesting4 жыл бұрын
Lessons learned, prepare early and aggressively.
@sloth67654 жыл бұрын
69 years old should have millions saved up and retired a long time ago .
@bxboro46624 жыл бұрын
Amen
@twincherry49584 жыл бұрын
@@sloth6765 la la land!
@shnooby24 жыл бұрын
@@twincherry4958 I must be in la la land than.... 32, mortgage free, debt free, over $100,000 in the bank, easily have a million or two by the time I retire, and I only make $70k a year, 2 kids, single income. ITS NOT THAT HARD
@twincherry49584 жыл бұрын
@@shnooby2 If it was not hard, most people would be able to achieve that.
@treyatl20064 жыл бұрын
He worked at a company for 47 years and have very little in his 401k? That’s crazy....
@thecatnextdoor124 жыл бұрын
He’s got there as much as he’s put in there.
@harrisonwintergreen11474 жыл бұрын
he's been spending 20% of his money on car payments, not enough margin to put money into the 401k.
@saiga12forme884 жыл бұрын
@@harrisonwintergreen1147 Even $20 a week into his 401K and compounding interest over 47 years would leave him 180K+ which could get rid of his car payments and give him room to breath.
@cooleobrad4 жыл бұрын
Imagine choosing to not get free money from your employer, oof
@aolvaar87924 жыл бұрын
@@cooleobrad 1/2% of monthly gross, $5000/mo = $25 That's what my employer offers on 457B 43% pension on 20 yrs.
@PenusDrippings4 жыл бұрын
they've been spending crazy for years and now the panic sets in.
@Shadowwind44 жыл бұрын
That man has probably had a car payment is entire life starting the day he turned 18
@llcross044 жыл бұрын
Shadowwind4 This is sad but definitely true. I’m in my 30s and I have friends who have had car payments over 15 years consistently
@MrCN1734 жыл бұрын
Been there. U grow up thinking its normal
@Shadowwind44 жыл бұрын
llcross04 yeah it’s really sad. I was lucky enough to be given a car as a gift when I was 17 so I’ve never had a car payment, and thanks to Dave I never will.
@JoshDTech4 жыл бұрын
How do they manage to pull that off? I couldn't stand 6 months of car payments.
@jarodmitch4 жыл бұрын
Probably her car payment. Most 70 year old men don’t care about having a new car
@staceystrukel19173 жыл бұрын
I am so sick of these people with oversized houses and expensive cars whining that they have no money.
@stevee83184 жыл бұрын
This guy should be getting 1) a military retirement benefit, 2) social security, and 3) he's still working at age 70, plus the wife is on disability. And they still owe 200k on a house? One of those cases where you wonder what they've been spending their money on over the past 40 years - probably gigantic car payments, for some reason they have like 3 car payments when the wife doesn't work?
@mariot65314 жыл бұрын
I thought the same thing. Something does not add up. They should be bringing in at least $5-7k/month if not more.
@TimeisUp224 жыл бұрын
He was a truck driver in the military, not a Vet. There are no benefits there. Clearly social security is not enough, it never is for any old people and she said there is nothing in there retirement. It sounds like those car payments are all his. It’s sounds he was the money maker and the money decider for the past 40 years and she sat back with her mouth shut. She saying they are not on the same page and she’s on disability. She needs to stop all this crying and moping and stand up to him.
@TimeisUp224 жыл бұрын
But you are right. Why are they taking care of their great grandchild? That’s their grandchild’s kid. Where are all the other family members? They should be getting some type of state assistance for him especially if he’s autistic. There’s a lot of missing pieces here.
@porshp89414 жыл бұрын
I was thinking the same. Should be getting SS for the gk with autism as well.
@aolvaar87924 жыл бұрын
@@TimeisUp22 " it never is for any old people " Never, Any, ... We get ~$5K/mo from SS
@Kysen104 жыл бұрын
230k mortgage at nearly 70!!!! very little retirement funds and an insane car payment wow
@JK202394 жыл бұрын
230k mortgage? 🤣🤣🤣🤣🤣. So bad that I missed that part because of the 900 dollar car payment lol
@rickshaw33974 жыл бұрын
230k left on the mortgage. I cant imagine the monthly
@prospersis45404 жыл бұрын
Doesn’t look too good for this family. I hope they can quickly try to turn things around.
@queen.kristal83954 жыл бұрын
Lol I know wow he might have to sell the house and downsize.just downsize everything and get on social security and military unemployment too
@thecatnextdoor124 жыл бұрын
At that age, I’d buy the most expensive house I get approved for, and take it for 30 years payments.
@The.Man.WithAPlan4 жыл бұрын
He did 21 years in the military and 47 years at other company he should be ready for retirement.
@lovethemflowers4 жыл бұрын
He must have been working for 47 years total. He’s not old enough to have been in the military for 21 and then worked another 47 years.
@The.Man.WithAPlan4 жыл бұрын
@@lovethemflowers yeah figured as much but still should be prepared.
@scotland3694 жыл бұрын
@@lovethemflowers Not necessarily. She said he was turning 71. The US military catering division employs potato peelers at 2yrs old.
@bexarbrown80053 жыл бұрын
It’s possible. Most likely retired from the Guard or Reserves. If that’s the case, he didn’t start collecting his mil retirement until 60.
@robroberts14734 жыл бұрын
If a salesman told me the car payment would be 860 dollars I would probably laugh myself silly.
@droppinbaums4 жыл бұрын
I let him slap me and walk out
@leadnsteel14284 жыл бұрын
@@droppinbaums Id slap the salesman and walk out lol
@unfairsanic50894 жыл бұрын
@@leadnsteel1428 ill slap the salesman, Walk out, browse at facebook marketplace for used cars under 10k, save that money, get a mechanic with you once you find the car that is reliable and you like, buy that car, comeback at the dealership and slap that salesman again
@aolvaar87924 жыл бұрын
2020 Ford F-250 4x4 Super Crew Platinum
@thecatnextdoor124 жыл бұрын
The payment was set at $860 because $900 seems already like too much.
@Elsneakakaze4 жыл бұрын
70 years old with a quarter million in mortgage debt, you only have yourself to blame
@jasonharris7654 жыл бұрын
Nah...think you forget all this financial knowledge and access wasn't around back in his day...just has to do their best now.
@cm53944 жыл бұрын
Jason Harris of course it was, if that was the case people wouldn’t have been in good financial standing until recently and that’s not the case
@MSotelo5034 жыл бұрын
Truck drivers are the worst at saving up haha. I only know 1 guy that does long haul and few employees.
@hurt17044 жыл бұрын
MSotelo503 this is true. Most have no idea how to handle their money even though they make pretty good money. I drive myself and I’m able to stack back 400 a week in savings.
@patty1091094 жыл бұрын
Jason Harris Jason that is total nonsense the richest man in Babylon has been around for decades. these people have absolutely no ability whatsoever to curb their spending ...it is actually horrific the state they are in
@DisabilityExams4 жыл бұрын
And that, folks, is why you start saving for retirement when you're young, and get out of debt before you retire.
@bsiffy4 жыл бұрын
About 20-25% of his take home pay going towards a vehicle 🤧
@laneblount98884 жыл бұрын
His car note is more than my house note 😂
@harrisonwintergreen11474 жыл бұрын
but muh truck!
@TheTruthHurts66664 жыл бұрын
I make about the same as the husband after taxes and that much money goes to my rent. Can't believe why anyone would pay almost a grand for a depreciating car.
@Aubatron4 жыл бұрын
That's crazy, 25% of my annual income is what I'd pay for a vehicle. Then I run that b**** into the ground before buying another.
@NPtanya7164 жыл бұрын
Calls like this make you wake up.. I’m almost done with my car payment... same monthly price as this guy.. I bought a mercedes a few years ago and that was the dumbest decision ever. I’m 38 years old and refuse to make that mistake again. Expensive cars are really a waste of money!!!! Being debt free and healthy are the biggest blessings in life!!!
@DHFlip184 жыл бұрын
Dave, I bought my car new 10yrs ago. It currently has over 270,000 miles and runs without issue. It's is market value is between $150-$450... I'll be running it for another 100,000 miles or so before buying another "newer" car. Intrinsic vs market value. Love what you do!
@jenti4223 жыл бұрын
What kind of car did you buy?
@paveldalesssandro69202 жыл бұрын
A shitbox
@Dr.Ticklebum69 Жыл бұрын
@@paveldalesssandro6920obviously not.
@1.5Koreans0.5American4 жыл бұрын
I lost my job during this pandemic. I’m sorry to hear that. I shared my experience with my job loss. Hope it can help other jobless people. 🙏
@felixf43783 жыл бұрын
My gf has a $740 monthly payment on a car. You try to warn these people but they don't care. Whenever an emergency happens shes always looking at me for me for money, even though we make the same amount. On top of that I pay rent, she doesn't. I used to help her out financially but then you learn that the more you help, the more you enable them. So I've stopped doing that and let her learn.
@themamajujushow5440 Жыл бұрын
Bingo! Stop letting people that you love take advantage of you.
@BradBrother Жыл бұрын
You need to cut that off if you havnt already
@learenng1267 Жыл бұрын
if you can't get on the same page financially, maybe time to let that go.
@sendit3251 Жыл бұрын
Still with her? Bet not
@prospersis45404 жыл бұрын
$860 for a car!!!! That’s crazy they could have gotten two cars for that price. I hope this family can turn this mess around.
@michaelb.89534 жыл бұрын
@Larry Byrd I think she said four or five cars rolled into that mess.
@cassietheboss92114 жыл бұрын
3 cars
@CampsitePyro4 жыл бұрын
Wonder what they paid for that car. Based on the price, i would expect it to be a luxury car.
@brianpitsilides53374 жыл бұрын
There is no fool like an old fool. and these people have been foolish with their finances their entire lives. Hopefully, they can get back on track and redeem many of the mistakes they have made.
@residentevil29284 жыл бұрын
There isnt a getting on track. It's too late.
@ajh.41314 жыл бұрын
Alex Colegate until you’re 6ft. under, it’s never too late.
@lunganikhubone25954 жыл бұрын
@@ajh.4131 I could not agree more because their goals from now on cannot be comparable to one we have in mind. Being a student for the first time could be a goal accomplished.
@bighands694 жыл бұрын
There maybe details we do not understand in the story. He may have acquired debt through a number of reasons.
@sson3863 жыл бұрын
The whole point of buying a car is to drive it into the ground to get the full value out of the vehicle. I never understood people who always has to have the latest tech, especially when only making 60k a year.
@ljay28234 жыл бұрын
Hate me, I don't care: He is NOT going to find a job at his age. He is a liability with his age and his disability. I know too many who are in their 50's and can't get work anywhere with experience, degrees and are healthy. Even Walmart and Pizza delivery wants young and fit. That said, he's retired military, pulling that pension plus VA benefits (no matter what). He has been receiving that WHILE working full time for 20 plus years. He chose NOT to fully fund his 401K (most likely due to his military pension....why bother mind-set) and she JUST found this out (why did she not know about his the entire time); they are caring for an autistic child (if they have full custody, have they applied for disability for the child?), SHE receives a disability check, he receives a disability check in addition to his pension, they have a huge mortgage at their age (bet it's due to home equity line of credit/loans) plus a HUGE car payment..... The level of stupidity with money is off the chart with them. There is NO excuse for them being in this situation other than greed/stupidity. It boggles the mind. Geez.
@jaypas23594 жыл бұрын
He can probably get a job driving for door dash
@Noah-gv6zj4 жыл бұрын
You might be right, but don’t throw out all hope of this man turning things around.
@mzcain15214 жыл бұрын
She said the autistic child is his so she is probably the second or third wife . . .
@Sombra_Azul_4 жыл бұрын
My sentiments exactly!
@allpraisegoddessmonika28874 жыл бұрын
Then sue them for age discrimination.
@Chopsuey0874 жыл бұрын
Sounds just like my parents. 55 years old, just purchased their first house , neither has a dime in 401k and my mom just got a brand new suv with an $800 a month car payment. They've been in debt their whole lives.
@BradBrother Жыл бұрын
Same for my mother in law but no home. Makes me nervous if Im her retirement plan.
@MijoShrek Жыл бұрын
The majority of Boomers have nothing saved for retirement and are or going to be on social security solely as they're financial support. The program is set to end with them and the rest of us will have it taken out of our paychecks as we continue to pay into it. The top percenters in wealth of the Boomers are going to continue the wealth gap when they die out, what they leave for their children and their families of the top percenters of wealth, They are tracking this is set to be the biggest financial distribution from one generation to the next the world has ever seen.
@knowbodiesfull57684 жыл бұрын
An $860 a month car payment? He might as well live in it!
@jacdan5024 жыл бұрын
I can't even imagine!!! $860 and it's not even a nice car. all that negative equity just rolled over and over and over. It's siiick
@ajh.41314 жыл бұрын
Haha that was my comment too 😂
@user-tb7rn1il3q3 жыл бұрын
Dan Jackson 4Rs are very nice, but not that expensive. They are still made in Japan.
@Joeamerican4 жыл бұрын
Man this is insane. Retired after 21 years and makes 60 on top of retirement and most likely Va disability. They should have several hundred grand at this age in the bank with no bills except living expenses.
@nateb194 жыл бұрын
bare minimum, could easily had a million in investments at this point too, with some diligence and planning.
@f.-j.j.57384 жыл бұрын
They have been living grand... Lord have mercy, what a mess...
@samadahmed78044 жыл бұрын
It's crazy. I'm 45 and I already retired. Got a pension of 75k a year. Sucks to be that old and still working.
@mannya19314 жыл бұрын
I was about to say this also, there is no way they should be broke. Mil retired plus va, plus SSA. This guy's should get rid of his toys and just retire
@kk-hp6ve4 жыл бұрын
@@samadahmed7804 youll be back to work if you make it to 70
@Noah-gv6zj4 жыл бұрын
It dawned on me just now how important it is to get out of debt and stay out of it for good. And some people are getting out of debt well into their golden years and may not ever retire, but AT LEAST they will go out swinging. That’s still a powerful message to send to the younger generations, that grandpa never had a retirement because he went out fighting tooth and nail to get his dignity back, and you don’t have to. You can clean up your mess NOW and retire with the same dignity he fought for.
@CarStory4 жыл бұрын
I know a KZfaqr that bought a C8 Corvette for $84,000. He put $4,000 down which paid for the taxes and financed $80k over 72 months. His payment is $1,070 a month. He thinks is going to make enough on KZfaq videos to afford it. I told him what Dave always says, "You're not driving the car, the car is driving you."
@hmj84694 жыл бұрын
Here's what winning looks like when you are in your 70's: 1. Living in a house that's paid for 2. Driving a car (if you need a car) that's paid for 3. No credit card debt, no debt period 4. Enough passive income to eat, take trips, feed your hobbies, buy clothes, etc (the necessities), spoil grand-kids 5. Working part-time on your terms, only if you want to in order to keep busy (not because you need the money) What does losing look like in your 70's: 1. This phone call. To have worked for that many years and have so little to show for it is very sad because it seems like it could have been avoided. They just needed to make better decisions while they were in their 50's and 60's. Let me also add that I really start laughing to myself when Dave 'gifts' his financial peace university and Ramsey+ membership (whatever that is). His tone and choice of words (15 minute free counseling session with a coach) makes it seem like the caller hit the jackpot and everything is going to be fine. He actually used the word birthday present when giving them financial peace and made a point to say it's free several times and that he is paying for it.
@Eric-tb2je4 жыл бұрын
Action, action, and more action. You have to be intentional in personal finance. It takes hard work and strategy to plan for the future. Education and deferred gratification is the key to living well with in your means.
@pkal2444 жыл бұрын
Good point on Dave's "gifts" haha.
@dank.25364 жыл бұрын
At that age, the real winners are UHNWI
@channell114 жыл бұрын
For some of these people, a plan and some good advice would be considerably more valuable than a check. Most of these people have behavioral problems that have resulted in financial problems. You have to address the irresponsible behavior before you can make an impact on the finances.
@nancybennani29254 жыл бұрын
P
@holpster10094 жыл бұрын
Whenever the car payment is over $800/month, I'm always hoping Dave will ask, what are you driving? A Lamborghini?
@ProductionsJoe4 жыл бұрын
Maybe in the 1950's. You're not getting a Lamborghini for less than 4-5000$/month.
@jacqueline7164 жыл бұрын
No way...even a BMW 7-Series lease is over $1,000 per month. A Lamborghini would be many multiples of that.
@channell114 жыл бұрын
You see ridiculous car payments with a fairly pedestrian car in a lot of these situations. It's usually because they bought something with no money down and rolled negative equity from their previous car into it.
@jhart9334 жыл бұрын
Naw just a 4runner
@bighands694 жыл бұрын
@@channell11 There are probably other details in the story that we are not aware of. $800 of car debt is still manageable on $60000 per year. Why is his mortgage $200,000 at his age. Once over 50 you will struggle to get a mortgage. There is no way the banks gave him a Mortgage with an outstanding debt of $200,000 at 70. It is not even possible and I would want more details on this.
@katrinaumana21274 жыл бұрын
I know I ain't the only one who's jaw dropped opened up and was shocked 😰😱. I know with hardwork they can cleanup this mess.
@erock14374 жыл бұрын
Katrina Umana My jaw dropped when I saw the notification on my screen and just had to watch this mess!
@f.-j.j.57384 жыл бұрын
But 70 tho is when you prop your feet up to enjoy your grandbabies and spin the globe to choose a vacation spot. I'm still trying to pick my jaw up.
@raallen14684 жыл бұрын
His age is going to work against him; 1. finding a new job AND 2. his health, strength & energy. Most folks are retiring by 70.
@raallen14684 жыл бұрын
@@devilsadvocate7059 Imo... Very unfair to kids for parents to do that. If this couple is raising a gr child, their kids can't be doing well either, for whatever reason...
@scotttracy93334 жыл бұрын
@@raallen1468 It's unfair for parents to live with kids in old age, but it's ok for the kids to dump an autistic great grandchild onto a 70year old ??
@CarnivoreStork4 жыл бұрын
He had 50 years to pay off a 30 mortgage. This is so very sad.
@G-unit0544 жыл бұрын
He may have gotten a 50 year mortgage on the house when he got it, just speculation. A friend of mine got a 50 year mortgage when he got his house 4 or 5 years ago
@paulettebraun8144 жыл бұрын
You dont know what people go thru. I spent most of my income for about 3 years trying to get my daughter the help she needed. It is about your priorities. You just never know.
@thecatnextdoor124 жыл бұрын
Glenn's Health Journey I didn’t know 50 years mortgages exist. What’s the age cut off? Can I be 65 and get the 50 year mortgage?
@nelodypond92824 жыл бұрын
“Just working will take you nowhere. You’ll just be a rat on the wheel. You have to work with a plan.” VERY TRUE. I’ve seen this in my dad unfortunately. Always wearing himself out working everyday, but still struggling and still doesn’t really own anything. You have to plan your money! Plan to pay off something!
@fbhaze74464 жыл бұрын
There's no security in a 9-5
@mazibukomail4 жыл бұрын
There's no securty in a business either tbh
@jurikowhy3594 жыл бұрын
Thembelani true
@christianherrera47294 жыл бұрын
Exactly right. No 9-5 will ever offer you security. That’s why I work afternoon shift.
@thecatnextdoor124 жыл бұрын
My company told me that we are a family.
@channell114 жыл бұрын
There's no security when you work all your life but spend like your rich. He could have ensured a secure future with a little fiscal discipline.
@mroberts5664 жыл бұрын
He was in the military for 21 years, then worked at a company for 47 years, and now he's 71? That would mean he joined the military at the age of 2.
@in_too_deep44784 жыл бұрын
Most likely retired from Reserves or National Guard
@2tooful2 жыл бұрын
Gotta teach them early
@jeandidieryao88403 жыл бұрын
Buy a car cash that you can afford. Drive it till you can't anymore and repeat. Imagine paying 860 and you have to pay for insurance and gas. That's insane.
@yamamancha4 жыл бұрын
My mortgage doesn't cost that much! Life goals: Don't be this couple.
@toddlerbookclub21833 жыл бұрын
Been working for 47 years at the same company with no retirement and a ton a debt. No wonder she is scared. I hope people listen to her story and don’t make the same mistake. These people will never be able to retire or be out of debt.
@freewifi71634 жыл бұрын
Working in your 70’s. Is one of the things that drive me to grind everyday. I feel so bad for this guy. Both my grandparents worked till they died. My oldest uncle worked until he died. My wife’s Aunt got off of work and died on the way home. Life is to be lived.
@dataodokpa54314 жыл бұрын
Jesus...
@Anon1mous4 жыл бұрын
Everyone dies. Not everyone lives.
@Mr.Mrs.Smith.4 жыл бұрын
There is nothing wrong with working in old age. It's not just the money, its the social aspect of it and keeping busy. Many people retire and end up dying after retiring either due to suicide or being so depressed they let them self totally go. I had patients to die after retiring because after about of few months of being retired they felt life had no purpose. Now, having to work at an old age and not having the 'health' or 'desire' to do so is a different story.
@nierautomata9654 Жыл бұрын
Just followed Dave’s advice..paid off my Tesla last week that i bought September last year. Now I only have to put the same monthly payment in an ETF which will serve as my piggy bank for the next car to purchase probably in 10 yrs.
@JessicaHicks4 жыл бұрын
It is not ok that this man spent 47 years of his life working for a company only to be laid off via mail! Bless this couple. 💖 Trucking jobs are plentiful, so he should be ok with finding something new quickly.
@gbb824 жыл бұрын
Jessica Hicks Getting up every morning to drive a truck at 70, that must feel awful. I am 58, have an office job and I am so ready to pack it in. 2 more years I am done.
@channell114 жыл бұрын
Yeah, but the reality is that no company is going to want to take a risk on a 70 year old.
@jesuslovesyou9164 жыл бұрын
Why when asked by Dave "how are you?" They reply good..after I listen to their story..I'm like you aren't good. If I'm not doing or feeling good, I'll be honest and say..not good today....
@felipebarron34794 жыл бұрын
Its cuz you have a kingdom mindset that's why
@jesuslovesyou9164 жыл бұрын
@@felipebarron3479 I hope you weren't being sarcastic because of my name. Lol...
@donnalebert91434 жыл бұрын
I totally understand that women, my husband and I are no longer in the same BOOK!! Never mind page. Good luck and god bless you, stay strong and firm
@adrianhanna65774 жыл бұрын
I've only bought two cars since I turned 21. Each vehicle I was able to pay fully, with no payments. I can afford a nice car but I love being debt free even more!!! I do my own macitence work so I'm saving more money. Being debt free is amazing. I can lose my job but my emergency fund can support me for over one year. My expenses is just video streaming services, gas, food, cell phone and no rent/mortgage. I'm only a 34 millennia but my money skills is that of an old wise man haha.
@championmagnus4 жыл бұрын
In Florida in Jan I was looking online at used cars and got into a convo with the waitress while at Denny's who said she just bought a new car recently...and her payment is 580 a month...... Disgusting
@Gus_Chiggins4 жыл бұрын
This lady doesn’t seem to have much info about her husband lol
@thecatnextdoor124 жыл бұрын
She is sweet.
@YourYUGIOHChannel4 жыл бұрын
Still paying off seto kaiba for borrowing his blue eyes white dragon
@geo8658334 жыл бұрын
LOL
@triad64254 жыл бұрын
Lolz rofl. What's the interest rate
@earthring4 жыл бұрын
LOL
@YourYUGIOHChannel4 жыл бұрын
@@triad6425 29.9 percent compounding interest
@Dannycky964 жыл бұрын
I rather just get sent to the shadow realm than to owe Kaiba
@Denariian4 жыл бұрын
My $120 car payment is looking pretty good now 🙄
@benstanfill3634 жыл бұрын
Seriously I'm over here debating whether to take on a $125 car payment.
@angryarkie16424 жыл бұрын
What’s your income?... doesn’t matter sell the car.
@FloydofOz4 жыл бұрын
This is one of the sadder calls and it sounds like some important information might have been left out. Imagine working 50 years and having nothing saved. Fear of that outcome should motivate anyone listening to get their life plan together. If he’d set aside even just 5% of his checks during his career, he’d be able to clear his mortgage tomorrow. If he’d saved 15%, he could have retired comfortably a few years ago.
@Angela-ne9cy4 жыл бұрын
My mom: 68 years old, zero 401k, zero pension, zero savings, over $150k in debt thanks to the house and credit cards. She basically just shrugs her shoulders and says "it will all work out". Somehow, I think that's the American mindset that "god will fix it" so it's no big deal.
@ajh.41314 жыл бұрын
Yup, toxic mindset. Or people hoping to miraculously hit it big! Nah, create your own luck.
@channell114 жыл бұрын
God isn't going to fix it-they'll just have to work until they drop and die in debt.
@rustyshackleford67994 жыл бұрын
I feel bad for people that use Credit. I used to work for a Credit Repair Company for 5 years and saw thousands of people’s Credit Reports. I know how Credit works and I don’t even use it. It’s the biggest scam in History. I once had someone tell me their Truck Payment was 1,000 a month for an F-350. And more. I used to see people Max out their Credit cards and only pay the minimum payment and continue the cycle and paying interest.
@yurkouki3 жыл бұрын
Some people make 60k a year and retire very wealthy and others very broke . As John Maxwell said “ every choice you make, makes you “
@DavidGeorgiaPersonalFinance4 жыл бұрын
This call is why I'm a Ramsey Preferred Coach, and this call is why I am working hard while I'm young.
@AricGonzales4 жыл бұрын
My pal has a $1,000 monthly payment for a vehicle.. 🤦🏽♂️tried to tell him
@SoHoDon_7184 жыл бұрын
He better be driving a hellcat for that price 😂
@AricGonzales4 жыл бұрын
SoHo Don he wanted a hellcat, lol he went with the 2020 Mercedes GLC 43
@jasonharris7654 жыл бұрын
@@SoHoDon_718 *Porsche
@berrytharp13344 жыл бұрын
The car is his identity. It has become more important to impress others than not eat dogfood at 80.
@shaloon644 жыл бұрын
@@AricGonzales my insurance just dropped to $75/ mo from $182 (CAD) on my 21 year old car. No better feeling than super cheap insurance rates.
@javanwalcott77724 жыл бұрын
A lot of ppl struggling in America rn
@softersideofc.c.56554 жыл бұрын
Naw, They're trying to keep up with the Jones. They're living way above the income
@scotland3694 жыл бұрын
Yes, yes they are!
@channell114 жыл бұрын
These people are struggling due to their poor decisions.
@gregorypaine513Ай бұрын
CRAZY BIDEN
@mohammadwasilliterate80374 жыл бұрын
I have 2 friends with expensive cars, Mercedes AMG, Ford Mustang V8, both on payments, home loan minimum payments, tried to tell them years ago, now they are 50+ 55+ and worried. 😂😂😂😂
@NeoAndersonReloaded4 жыл бұрын
They look rich!
@James_Sovereign4 жыл бұрын
My entire car cost me $1600. I'm 43 and retired (from full time work) debt free at 36. Prioritize! I do spend A LOT of money on vintage motorcycle parts though.
@dataodokpa54314 жыл бұрын
Way to go...but Dave would tell about that spending on the motorcycle parts...unless it makes you money in returns of what you spend--then he would say carry on🤣
@Hamamiz14 жыл бұрын
I really cant understand people or im just not good with math. Im a software engineer in europe completely debt free and im afraid to take a 250e / month car loan Paying 850 is completely madness to me
@eurekahope53104 жыл бұрын
I think it is madness to most listeners. In fact, I had no idea payments that high existed unless it was an extremely high end vehicle.
@scotttracy93334 жыл бұрын
@@eurekahope5310 She said it was previous car loans rolled into it. It's not from one car
@Hamamiz14 жыл бұрын
@M M Thats my aim Thank you 🙏
@jmc80764 жыл бұрын
My heart goes out to her. Sweet lady. Stay strong and be proud of what you’re doing for your great grandson. Much love and respect to both. **PS to Ramsey team pls make sure she and GGS are protected with good will(s) and POAs. On both their deaths if a legal guardian isn’t named in a proper legal will(s) recognized by their state law he’ll be left in hands of a court and prob foster care (or community group home if older.) It needs to be legal per their state law. A good lawyer is worth the cost to protect their GGS. Too many make the grave mistake of just a written note and or verbal request/agmt for care of kids in event of a parent/caregiver’s death. Also in some states children can’t inherit money or property. They need to know these things and ensure the structure of their guardianship gives them the legal right to even name a successor guardian. I wish them love and strength.
@Dance16174 жыл бұрын
This is one of the scariest calls I heard in a long time. 70+, 200k+ in debt only makes 60k a year, and has a 860 dollar car payment for a freaking Toyota?!?! WHAT?? complete insanity.
@oliverwhite304 жыл бұрын
A word to the wise is sufficient. 70 years old. Wife disabled, he’s VA disabled. Owe $200k on the house and got Fired with hefty car payments. Don’t let this be YOU.
@bighands694 жыл бұрын
I doubt there are details we cannot see in this. Once you go over 50 it becomes difficult to acquire debt. Has he used his house as collateral for debt?
@blackworldtraveler37114 жыл бұрын
Looks like over 40 years of throwing money away.
@youngtimer9644 жыл бұрын
OMG! “I just found out this morning that we don’t have much in our retirement account”
@JayBoogie1374 жыл бұрын
Most people don’t have a money problem, they have a spending problem
@mmoye86404 жыл бұрын
I like the 'yeah right' response to Dave's happy birthday😄
@mosquitofleetfishing65992 жыл бұрын
I can’t imagine being in that situation! I hate having utility bills every month. Having roughly $280k of debt at 70 is suicidal!
@Onehottherapist4 жыл бұрын
Did she say 60k after working for a company 47 years??!!! I pray I misunderstood that part..🥴
@Der8cho4 жыл бұрын
In December of 2019 a former coworker bought a new Chevy Silverado. His truck payment is $900 a month. He's been laid off since April of 2020.
@theflightsimulationexperie68943 жыл бұрын
70 years old and with the company for 48 years with very little saved and an 810 dollars car payment?.....REALLY? I do feel bad for the layoff letter he received. This is why melliniels are not married to one company and we change jobs frequently because cooperate America gives you your pink slip after 3 decades of service and says “sorry your positions been cut.” This is why financial independence (the FIRE movement) is so important. I thank god everyday that I found financial literacy and responsibility at an early age and have been saving like a mad man for 10 years. I will not let corporate America determine my employment duration. I will leave on my own Terms hopefully at age 42. I’m 5 years away from that retirement goal. If I could fast forward time, I would do so.
@cammims76454 жыл бұрын
Love these type of Calls! Let's get my Popcorn and Pepsi!!
@edb4844 жыл бұрын
I prefer Sprite lol
@cammims76454 жыл бұрын
Sprite doesn't go good with nothing! Pepsi all day!
@the1plantguy4 жыл бұрын
Hmm...yes, the show is entertaining, however, its kinda crass to be enjoying other people’s suffering.
@IamtheGL4 жыл бұрын
@@cammims7645 you take that back about my sprite!
@edb4844 жыл бұрын
GL Right everyone knows Sprite goes harder
@tdgdbs14 жыл бұрын
Does she work? She is the problem. The man retired from the military with a pension, plus VA benefits and social security. That should be comfortable living.
@TheQmoney6010 ай бұрын
40 years working for a company and making 60k is the problem
@yeseniarebollar60704 жыл бұрын
we paid off both our cars 6 months ago, thank you Dave Ramsey 🙌
@LJ-ce9qy4 жыл бұрын
In Dave Ramsey’s voice, you know what you have when you don’t have payments? Money!!!
@derrickclark55104 жыл бұрын
FACTZ!!!
@Retired-jr3qs4 жыл бұрын
I hope with all the stress their going through they make it.
@cartere99813 жыл бұрын
Nothing saved and you're 70 with a 860 dollar car payment mind blown
@darbyohara3 жыл бұрын
Retire military, getting disability, getting social security, been making 60k a year and still working at 70. How do they have nothing saved for retirement?!
@thompsona106254 жыл бұрын
I’m always left speechless that people get to this point.
@Buaastroctyes4 жыл бұрын
My car payment is $300 and I think it is already crazy expensive 😪😪😪
@thecatnextdoor124 жыл бұрын
Because it is. Other people having it worst doesn’t mean anything.
@myutoob20113 жыл бұрын
71 years old. I'm wondering when they were going to START to plan for retirement. I feel bad but the problem is in the mirror.
@raminfinity4 жыл бұрын
Just paid off two cars. Monthly payment was $700. Officially started baby step 3 yesterday, woohoo!
@wa2k994 жыл бұрын
Who else clicks on the videos hoping Dave will just lose it!
@scotttracy93334 жыл бұрын
Me, I'm guilty. To be fair when I consider making a dumb purchase I imagine Dave losing it with me, and that stops me !!
@lanceknuth53004 жыл бұрын
This is precisely why I'm not running a multi-million dollar company. I would lose it at this woman before she started to break down. I can't imagine the sort of damage I would do. God bless Dave Ramsey.
@JessicaHicks4 жыл бұрын
yes, of course dear!
@dataodokpa54314 жыл бұрын
I’ve noticed that he’s been slowly losing it...he’s gotten snippier lately...and I think the hosts are there to give him the ease to shut it, before he completely snaps.
@biancabarnes38024 жыл бұрын
Dave losing his mind is the gift that keeps on giving!
@justinechamelle95354 жыл бұрын
This is crazy, the guy is almost 70, still working and you’re worried about him loosing his job? At that age loosing a job should be a blessing! Finally a reason to retire. Heck I hope I’m retired long before 70. Also idk what kind of car y’all be driving at 70, but you don’t need it if it’s costing that much 😂
@channell114 жыл бұрын
He can't afford to stop working-that's the problem. Dave knows the odds of someone hiring him at 70 are pretty slim, but with their financial situation he's literally going to have to work until he falls down dead-and they'll still be in debt.
@jaggsta4 жыл бұрын
@@channell11 he got nothing to show for it after 40+ years of working guess his wife does nothing.
@american-professor2 жыл бұрын
Here is a lifehack for you: whenever I have an urge to buy a new cool car I simply take a mental note and next time I’m on a vacation I simply rent a car. To best thing about it is that you can always try different cars, you don’t have to worry about maintenance, and it’s not nearly as expensive as your car payment.
@azamsharp3 жыл бұрын
AS LONG AS I AM ALIVE, I WILL NEVER BUY A NEW CAR AGAIN.
@mattsmillennialmoney394 жыл бұрын
Cars will always be a liability🔥🔥 NEVER AN ASSET
@vanalbury72164 жыл бұрын
Super true
@DoublePdalJesusMetal4 жыл бұрын
Great point
@monicajohnson51094 жыл бұрын
This is just so sad at the age of 70 🥺🥺
@tracyalbino-daggett40323 жыл бұрын
69 years old and having a mortgage, large car payment. Also raising a grandchild. Sounds like they were living for decades without any planning
@adamseidel97804 жыл бұрын
Lol, the ad before this video was a local car dealership advertising "no credit, no problem!"