Yes. We need more men like this in the world.

agreed

Agreed. A real man admits that he doesn’t know everything and listens with an open mind.

Amen and amen!!

Takes 50 years to become a "real man". Yikes! But better late than never.

Must be nice to be wealthy.

@@dedalliance1 don’t be that person. That attitude will keep you broke.

It is nice to be wealthy, but the poster isn't (wasn't) even a particularly high earner. Max 401(k) is $19500. If he was putting in 35% of his income, at most he was making ~$55K. That's a perfectly average salary. (Median household income ~$61K in 2018). It's just spending less than you earn.

@@jeremynorris_hostyl1 Yeah except for the difference is he's old. If he were my age that extra 35% of his income would go straight to his home and overpriced cost of living expenses. If you only make 55k dollars a year pretax where I'm at in Colorado you're looking at probably spending 2k a month on your mortgage which doesn't even buy you very much or nice of a home. 55k a year minus your 30% taxes is like what, 3k a month? 3,500 a month? Good luck affording anywhere to live around here. Even renting just a room in a house is 500 plus a month all the way up to 1k a month potentially. If I was 58 years old too and could buy a house in the 90s yeah I'd be pretty well off too.

@@dedalliance1 That's a bad attitude. You can do what I did - move to a cheaper area. There are always choices - good and bad. The object is to make the good choices. I live in Sioux City, IA, not Chicago, Denver, or some other expensive city. My wife has a great job, I was in IT, but now I teach part-time. We have a paid-off house, and over a half-million in Roths, and still investing. We can do that because we don't live in an expensive area.

moneyrip1 hope you don't have to take care of him in his order years, give him Dave Ramsey's book or lay it somewhere, maybe he will pick it up, or pay him to go to Dave Ramsey's course. But he is to comfortable to change.

Dave used to use the phrase "powdered butt syndrome" meaning parents won't listen to or take advice from their children, no matter how sound or accurate. Mine is 90, just finished paying off a high interest, 30 year mortgage on his retirement house he doesn't need. Has a loan on a car he doesn't drive because he can't anymore. I'm his executor, won't discuss anything financial with me so it will be a big surprise at the end. I begged him to sell the house over the last 10 years and we'd get a place together and unload the property he's no longer maintaining. Nope, just keeps singing Ringo's No No song. I'll ultimately be left holding the bag but all his life he's had a laissez faire, que sera attitude and his age unlikely to change. Worst part is it's delaying me retiring and getting out of my overpriced digs because I'm his only lifeline.

@@thekraemer1757it’s worth it in the end because you know you did what you thought was right. The regret in the short term set backs won’t hold a match to the regret you’d have if you didn’t do what you thought was right.

I’m tryna be like you !

I paid off 103k in about 3-1/2 years. It was so grueling but so worth it. Some lessons can only be learned in the valley. There's nothing like debt-freedom!

He got me out of almost 400k of debt. I got 94k left to go on my house. It’s like being unplugged from the matrix.

I can't wait...

Dittos. Same story.

Same here, now 70 with NW around 1.5M. Thanks to Dave.

CONGRATULATIONS!!

Pensions aren't forever..

​@@readJames48if you save properly they will get you into your 80s no bother.

💅 it!!

Soooooo true!!

Dave and Rob Kiyosaki have different views about debt but they can agree on the fact that most people in this country know very little to nothing about money.

Na, bible is a load of bollocks

Why did you start listening in the first place? Just curious that's a long time lol

Made me laugh.

Good for you. I hope that you have plans for where that money is going to reside until you need it. You aren't too young to start investing.

😲😲 wow. Congratulations that's the best desición you could make. Keep doing it!!

Keep up the good work brotha, you're going places!

The Bible isn't real

@@urdadshusband781 Ever read “The Case For Christ”? (Or watched the movie). It’s really insightful as to why Christianity is not only anti-science, but why science actually supports Christianity more than it does Atheism.

No one's wiser than the grandma!

I worked with a guy who said that, the millionaires are the ones with the holey jeans.

I definitely look broke and I don't correct anyone who thinks that I am broke because when i look at my assets, it screams that I'm broke. 😱

Rightttt

I sometimes feel these people don't make as much as they say it's Ludacris the debt should be cake

A big part of that probably depends on how of expensive of house he lives in. He might have a million+ dollar mortgage that's eating up the majority of his income.

@@MCC1591 retirement is around age 65 on average, the caller said 12 more years to retirement so lets assume he’s around 53 years old. Also assuming his wife, at 53 years old, makes roughly what he makes then the combined annual income is very possibly 180-190k annually. Thats ~90-95k per person AT 53 is not unbelievable.

@@dabulls1g no of course it's believable what isn't is how they can't pay the debt with that income

“The Money Guy” ((if you haven’t heard of him is a Franklin TN financial planner with a you tube channel, (in Dave’s backyard)) just said this exact thing in a video I watched. Your level of savings/investing and especially the getting out of debt part should put you into a financial position where you are a little discomforted.

Comfort is your enemy.

Yikes...some people just like being normal with money.

Yeah. I noticed that years ago when some lady called in and says she makes $200K and is in debt, and can't think of what to do. I almost puked.

Because it makes for such an easy call to tell someone with loads to income to to "just pay it off". Doesn't work that way for most of us.

It doesn’t matter what people make. The more we make the more we spend. The less we make the less we spend. It’s all about discipline. I am here because I have been on both sides and I need guidance.

You're good though, let me tell you.

Well done, good for you.

Want a cookie for it?

You had the good sense to take care of business that will take care of you in the future and the best person to rely on in a situation like this is yourself. Enjoy your rewards.

Because its not supposed to make you feel comfortable. It is supposed to make you run harder to get rid of the debt

Your battery in your Toyota Camry dies. You go down the road you get a nail in your tires and the tire needs to be replaced. These are example for the emergency fund.. The emergency fund isn't suppose to help you put a roof on your house. A sinking fund is for the roof. Most people know in x amount of months/years this roof needs to be replaced. That when you start saving money to cover the roof.

@@pmc9194 Because it will be too hard for people to save more than 1000 dollars, it's a financial and metal hurdle

I don't think you need more than 1k unless you have children and maybe a spouse. Remember Dave says don't mess with the steps unless you have an underlying medical condition such as myself. The medical scare started in Oct. 2020, for me and I built it up in a matter of months. I don't forget God when it comes to my money either! Also, I paid my car off this month!! You can do it!! All I have are student loans and I'm nervous about that, but I'm staying the course!! We can do this!!

Because 1k is still more then people have for emergency

You are blessed. I made the mistake of working for non profits My life has helped people but I won't be able to help anyone financially once I retire...

I have a friend who lives check to check ( some of it ssd) but buys coffee out. Then when she moved, she needed down payment from church and 100 bucks from me for electricity. I gave it bc I almost never do but meanwhile I make coffee at home from the can I got on sale at Dollar general

Im in South Hills as well. I agree.

In Green Tree myself. Mortgage and property taxes for a 3 bedroom is just over $1000/mo. He's probably bringing home around $9000/mo. Something doesn't add up.

I live in the south hills too. :)

Yeah he makes too much to be this clueless. That much debt and only 11k saved up?

Thats hot even a quarter of his annual income. Maybe he’s spending a lot taking care of hospital bills for loved ones or something. Who knows

Or he lives in Canada.

Those were my thoughts exactly.

I agree.. him and his wife are living wayyyyy above their means if they’re making that much.

Reading between the lines, somebody with $180k in come talking about paying off $50k in debt over TWO YEARS is someone without a budget or a real plan. He's inspired, but he's also new to really thinking seriously about his finances. The big issue is he needs to get his monthly finances in order first, and then it becomes a moot point.

He just doesn't want to cut the ESPN subscription and the restaurant dinners.

The problem is he will get done with this and finance a boat if he doesn't feel the pain in the 401k. It's not about the match. It's psychological. Staying out of debt is psychological.

So right now, if I needed all the money I have to pay off my debt, you suggest that I keep investing in my 401k?

@@salma_Nella22 yes kept the company match and use the rest for debt

Dave is an out of touch boomer

Oh wait… so you’re suggesting that I withdraw some money from the 401k (the match) and pay debt with it? Oh that sounds scary lol

The interest your debt accrues per month probably FAR outweighs that employer match. Saving $1 with your left hand while setting $5 on fire with your right makes no sense.

Lifestyle creep is real.

Innit, wtf?! Phones up to ask how to pay off 66k of debt with 180k income. Beggars belief.

Sometimes the income is so good that you forget that you won’t be making it one day. I want to live better in retirement than while I’m working. It feels good to know that I can afford a $50k car but I don’t really need it right now and don’t give a damn if anyone else does. lol

@MaddaxxxE exactly right. I was 20 working 2 jobs making about 70k/y but getting approved for credit cards left and right to the point my checks were all just paying something fast foward got nothing but experience to show for it

Bingo...how me and wife have done so well. We make a good income and live while being debt free very well on about $40k to $50k a year.

I know right? I’ve lived off of 20k a year one time and still was able to save 😆

Yes, I agree

Bc the guy knows

🤣🤣🤣

That’s nobody’s business.😁 Dave’s just here to suggest what he needs to do now if he’s serious about getting out of debt.

Because we are not taught how to manage money unless you have a very astute parent, and you certainly won't learn it in school. There are exceptions, but generally speaking, when a young person finishes high school or college, they still don't have a clue about the two most important things they need to succeed in life. One is managing their finances and the other is managing their relationships. Its is unbelievable how messed up the system is to allow this to occur and we can certainly see the results all around us.

I agree. And the 401k match is part of your compensation. If you don't take advantage of it that's like voluntarily taking a pay cut.

Absolutely.

Exactly. Dude probably has a million dollar home and driving around in a $70k Ford Super Duty. It’s all relative.

most people do not know how to live within their means or actually want to do it because then they cannot appear to be rich to their neighbors, friends, and family

@@MrCoxmic Absolutely. I still want to know what they are justifying as “Rich Camouflage”.

It’s household income, not only his income.

Doesn't matter if it's household income

He makes $180k and $66k in debt. He is the rich snooty suburbanite.

He should learn to cook

No shit!” If he has a decent mortgage payment like 1000-1500 a month and not some crazy ass 3000 mortgage payment …he’s good real good,,,I’d have a badass vette in the garage a ok mortgage of 1000-1500 and STILL be banking serious cash…I can’t understand how people of this level of income are broke….wow..are they going on vacation 6 times a year? And have 3 car payments?

It was originally 3 to 6 months of expenses, but I think that was too big for people. So as a starter, he now says at least have $1000 in case of a rainy day. The 3 to 6 still comes later.

Anthony N and he could still keep his stock, and keep his match in his 401, he can change his habits, and I have to admire Dave Ramsey sticking to guns about, stopping everything to pay off debt, and he can do more on the 401 and other savings after the debt is paid off.

Dude prolly had a 3000 a month mortgage 1500 a month in a car for him and his wife. Etc…that’s almost 5000 a month right there ..

or you can just mind your own business and let adults do whatever they want with their lives.

@@perotal that’s what I do. Just “boggles” my mind that people don’t care that they r in debt. Boggles vs. asking point blank to a persons face is different

A mortgage is consumer debt. So you would find it mind boggling that I might order a pizza before my mortgage is paid off?

Not always about how much water you put IN the bucket but how many HOLES it has leaking out the water you must stop.

No. Those are anticipate expected home repairs for Sinking Funds

The most expensive I can think of is the 10% deductible on my earthquake coverage. Anything else is pocket change in comparison.

Probably because you're making a lot (or had a small debt).

@@saulgoodman2018 just curious why you watch all his videos when you don’t agree with his philosophy lol?

I don't agree with everything Dave says. I watch him becasue he's entertaining. Also, if you want to make more money and keep the money you make... better call Saul.

@@duckpwnd yea but this dude is always on the comments griping about some guy he doesn’t know lol might be better for his mental to channel that elsewhere

@@saulgoodman2018 lol thx captain obvious but that wasn’t what i was saying . you are always commenting on his videos with an opposing viewpoint . you’d be better off doing your own channel than helping monetize on someone else’s with views and engagement if you have that much time to mess around on social media . It seems to me you don’t agree with his viewpoint on personal finance at all , so why give him your valuable time by engaging constantly on his content ? lol

I know! That’s shocking to me too. And only 11k saved up. And he’s older too…

Same way someone making $80k is $35k in debt or someone making $50k is $22k in debt. You think just cause people make a lot of money they should know how to use it? lol. What are you 12?

AFTER you pay off your debt.

@@k-mart7475 A small one before, to keep you from going into more debt when something goes wrong