We’re debt free today!! Worked baby step 2 intensively for 14 months. Side hustled, cut back massively, even stopped dyeing my hair, sold my side hustle business. And my grandparents just gifted us a three month emergency fund because we’re out of debt! WE’RE FREE!
Casey and Jessie, that was an amazing story!! Thank you for sharing not only your financial journey, but the REAL part - your emotions, your depression, your failing marriage. You guys truly overcame, it's inspiring. It's possible people, just start somewhere!!
My husband lost his job so I couldn't afford the $100 for the kit to take the class. I volunteered to teach it. Which meant I had to watch each episode at least twice. We are now debt free including the house ($250,000) now worth $500,000! Paid off the kid's college loans ($125,000) and we literally have no debt. We are everyday millionaires! I love Dave Ramsey.
…Many people can’t stay focused long enough to bring the mind ,body & soul ,on one accord ..something that sounds so easy but yet so challenging …. The human family is full of distractions within and without gotta be wise what we let our minds entertain ….
Right. I heard that and thought he was either an agent or had just had a meeting with a "financial advisor" AKA whole life insurance salesman and had the pitch fresh in his mind.
I like that comment she made, that you just start. None of us go anyplace if we don't Yes having extra assets to sell really helps, but you have to be committed to do what it takes. Good one....
To the caller, that called about feeling guilty about paying off his debt. I cosign on everything Jade said. The only thing I would add is to keep everyone out of your personal affairs, especially money. Next thing you know, everyone will have their hand out.
I’m thinking about starting my investment journey, but I feel a bit overwhelmed and uncertain. Do you have any tips or suggestions on who l could reach out to for guidance?
Investment is currently the most lucrative business in the world. Both real estate, Stock, and Cryptocurrencies are positively changing people's lives.
Making touch with financial advisors like Elizabeth Regina Nelson who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
27:20 Jade, that was the first thing I thought! Why are they waiting three years to pay off this house? Why not move now, and either get the same price house or a small loan?
1:20:15 it sounds like Ryan in Hartford didn't "want to rock the boat" of his father's 401(k) and it's good investment portfolio, and that resulted in him not contacting a financial advisor or will/trust attorney to see what should be properly done. It's odd the 401(k) administrator didn't contact Ryan prior to cutting the check...or is it? What do they care if he rolls it over or pays the taxes now? Either way, the company is out the same amount of money.
Hey! You are completely right up until yesterday. I did not know about this 10 year requirement that you have to take inherited money out of the 401(k). That was the biggest problem. Fidelity never notified me about this and now I’m dealing with it. On day, one of getting my half of the 401(k) in my name, they only asked me if they wanted the money to be managed by them or do it myself in between then and now they never once notified me by phone email or text. I have personal investments with Fidelity and they send me letters once a week pertaining to the personal stocks that I own for annual shareholder meetings. It’s almost become like getting junk mail from them, but I knew well enough to open this particular piece of mail from Fidelity, which definitely makes me think if there was something important they would’ve sent it to me in the mail which I never got anything. Regardless of that fact, I’ve learned a lot in the last 24 hours From taking that phone call with Dave and I’m doing the best thing possible and I contacted a smart investor pro and I contacted my accountant. Even my brother who chose to have his money, be managed by Fidelity was not aware of this 10 year rule
Unfortunately, we bought our whole lives from a very good friend 25 years ago and just cashed them out. It's embarrassing. We got $44,000 for what we paid more for. Wish I would have listened/or known about Dave decades ago.
26:06 "sell it (a paid for house) and go rent for two years." - Dave Ramsey. Spoken like a true rental property owner. Love the channel but this is disgusting advice.
@@daisybuckley5846 they don't really do anything. They're just for promotional purposes. Almost a scam. I'm almost done paying off the only credit card I've ever had and will never have another.
I so wish I could speak with this mom. This could turn ugly so fast just as they said. It is of course her choice but never ever believe everything you are told, most especially when ‘Love’ is involved.
Agreed. We need more information about mom’s financials. Daughter said mom would sell her house but didn’t say how much the profit would be. If boyfriend gives mom an allowance .. properly managed there could be some left for savings. So, there would be very little risk if she worked it right. If he then left her, she would have her savings.
I think it's the principle of the matter. If it's not worth it to get married, it's probably a relationship that won't last anyway. In that case, the mom should cut her losses and find someone who actually wants to marry her.
As a Christian small business owner, I can’t thank Donald J Trump enough for his bravery and leadership. It was amazing to see 2/3 of Americans come together with common sense MAGA values.
So Dave Ramsey who braves about being a multi-millionaire has raised his book prices by about 30%... When people stricken by negative economic conditions need help the most, he as a multi-millionaire ,wants to profit off of their pain.
Do the 403(b)s have beneficiary designations? I'm no expert, but if you have them named as such in your 403(b) docs, I wouldn't anticipate any issues. The same with IRAs. When my MIL died last year, she had her Roth and IRA beneficiaries set up with her accounts. There were no issues accessing the funds and rolling them over to my husband's own IRA. Check with a financial advisor, though, or your plan administrator.
@@bettedavis9261not to cause drama or be nosy, but the feds have a standard way of doing things, if someone in the family disputes something, that’s when everything becomes all hickory docked
@@Jss766the first $16 million are not taxed (estate tax) however there are state estate taxes so look at your local government/state government comments.
If you want someone to have access to bank accounts after your death, the accounts should be marked POD. If you want someone to have access to your investments, the accounts should be marked TOD. Otherwise, even if there is a will, you must wait for a probate date to validate the will and have the executor or account administrator distribute the assets after all bills and liabilities are paid. Any assets accessed by someone with POD or TOD privileges will likely have to figure into the estate accounting in most instances.
I'm sooo glad you said this. I get tired of him saying that. He works it in every chance he gets. If I voted for the right president (According to DR) then, I get a say in your personal life???
What's or who is the wrong candidate. More and more... I feel "sorry for Sharon " You can actually read Rachel's face sometimes- that Dave socks the life out of her. Dave is good at what he does- but he needs to do some work on himself...like the rest of us.
The inherrited amount will not be taxable, only the gain since the inherritance. If he can't undo it, then he is paying tax on the taxable amount now, vs paying it at a later date, but one way or the other, he will need to pay tax, so really, no big deal. Bet he got notice, in leagaleeze, and blew by it.
I was never notified. And if I was, it certainly was by snail mail, and Fidelity sends me copious amounts of correspondence pertaining to my personal investments, like annual shareholder meetings, and other junk. Upon all the conversations I’ve had over the years with Fidelity not once did they ever mention this five and 10 year rule As far as you saying that I only have to pay on the gains. This is not a personal stock investment. This is a 401(k) that was inherited. I have to pay taxes on the full amount of what is in the account, including the gains.
My father died at a very young age unfortunately, upon his passing, he left no will or estate. All that was left to me, and my brother was that 401(k), and when it was split between me and my brother on that first conversation I had with them they never mentioned anything about this 10 year plan then again this was before Biden was even in office which I’ve gathered that was something enacted under him. I’m not really sure even a lot of the financial advisors I’ve talked to in the last 24 hours are not very knowledgeable on the situation. At least an intimate detail.
@1999VR4 and I can corroborate that both of us weren't financially literate in regards to how we needed to handle our father's affairs. Our father's final 10 years were tumultuous and the last thing he was concerned with was sitting down with a lawyer and his children to discuss his last will and testament. I say that with all due respect. You and I were flying blind and learning as we went.
@@1999VR4our financial advisor is very well versed in it. He explained it in great detail when my MIL passed away in 2023. I'd get a different financial advisor if I were you. They should know this information. It's fairly basic.
We’re debt free today!! Worked baby step 2 intensively for 14 months. Side hustled, cut back massively, even stopped dyeing my hair, sold my side hustle business. And my grandparents just gifted us a three month emergency fund because we’re out of debt! WE’RE FREE!
Way to go!!
Que?
CONGRATULATIONS!!
Way to go
caller 1 - 00:45
caller 2 - 11:20
caller 3 - 19:10
caller 4 - 27:30
caller 5 - 34:50
caller 6 - 44:45
caller 7 - 49:00
caller 8 - 58:40
Debt Free Stage - 1:04:50
Debt Free Scream - 1:13:50
caller 9 - 1:17:55
You're awesome
Thank you
You wonderful being
❤
Mr. Ramsey is smart and he knows his stuff! And still he has a caring heart. Funnily he could outsmart everyone easily, if he wanted to.
Casey and Jessie, that was an amazing story!! Thank you for sharing not only your financial journey, but the REAL part - your emotions, your depression, your failing marriage. You guys truly overcame, it's inspiring. It's possible people, just start somewhere!!
Thank you!
My husband lost his job so I couldn't afford the $100 for the kit to take the class. I volunteered to teach it. Which meant I had to watch each episode at least twice.
We are now debt free including the house ($250,000) now worth $500,000! Paid off the kid's college loans ($125,000) and we literally have no debt.
We are everyday millionaires! I love Dave Ramsey.
I really love how Jade always backs up Daves jokes with an extra chuckle!
Great team work and loyalty!
@@TC2020-w8u lol that's what she's paid to do, she has no original opinions
@@davidli6899 No American has original opinions.
Is that how you feel about the other paid hosts? @@davidli6899
…Many people can’t stay focused long enough to bring the mind ,body & soul ,on one accord ..something that sounds so easy but yet so challenging …. The human family is full of distractions within and without gotta be wise what we let our minds entertain ….
1st caller --- spotted immediately as a insurance agent too!!! It’s like they all memorized the same Line
Right. I heard that and thought he was either an agent or had just had a meeting with a "financial advisor" AKA whole life insurance salesman and had the pitch fresh in his mind.
He sounded sleezy. That salesman "I know more than you" tone.
Great show 😊
I like that comment she made, that you just start. None of us go anyplace if we don't Yes having extra assets to sell really helps, but you have to be committed to do what it takes. Good one....
To the caller, that called about feeling guilty about paying off his debt. I cosign on everything Jade said. The only thing I would add is to keep everyone out of your personal affairs, especially money. Next thing you know, everyone will have their hand out.
I’m thinking about starting my investment journey, but I feel a bit overwhelmed and uncertain. Do you have any tips or suggestions on who l could reach out to for guidance?
Getting advice from an expert when building an investment portfolio is a wise choice , as the process can be quite complex
The retirement crisis is getting worse and the economy is so messed up to start investing right now.
Investment is currently the most lucrative business in the world. Both real estate, Stock, and Cryptocurrencies are positively changing people's lives.
Making touch with financial advisors like Elizabeth Regina Nelson who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
Dave just admitted a use case where a credit card is needed: Car Rental
Mr. David, you speak to debt. What are your thoughts on the American healthcare system and recent news?
Dave sniped that whole life dude from a mile away….lmao
😂
But how did you feel about the Pokémon card guy??? 😂
27:20 Jade, that was the first thing I thought! Why are they waiting three years to pay off this house? Why not move now, and either get the same price house or a small loan?
1:20:15 it sounds like Ryan in Hartford didn't "want to rock the boat" of his father's 401(k) and it's good investment portfolio, and that resulted in him not contacting a financial advisor or will/trust attorney to see what should be properly done. It's odd the 401(k) administrator didn't contact Ryan prior to cutting the check...or is it? What do they care if he rolls it over or pays the taxes now? Either way, the company is out the same amount of money.
Hey! You are completely right up until yesterday. I did not know about this 10 year requirement that you have to take inherited money out of the 401(k). That was the biggest problem. Fidelity never notified me about this and now I’m dealing with it.
On day, one of getting my half of the 401(k) in my name, they only asked me if they wanted the money to be managed by them or do it myself in between then and now they never once notified me by phone email or text.
I have personal investments with Fidelity and they send me letters once a week pertaining to the personal stocks that I own for annual shareholder meetings. It’s almost become like getting junk mail from them, but I knew well enough to open this particular piece of mail from Fidelity, which definitely makes me think if there was something important they would’ve sent it to me in the mail which I never got anything. Regardless of that fact, I’ve learned a lot in the last 24 hours From taking that phone call with Dave and I’m doing the best thing possible and I contacted a smart investor pro and I contacted my accountant.
Even my brother who chose to have his money, be managed by Fidelity was not aware of this 10 year rule
LOL @ whole life insurance
Unfortunately, we bought our whole lives from a very good friend 25 years ago and just cashed them out. It's embarrassing. We got $44,000 for what we paid more for. Wish I would have listened/or known about Dave decades ago.
The $1200 beater car call was quite strange and Dave certainly did a great job in uncovering the caller’s TRUE concern.
26:06 "sell it (a paid for house) and go rent for two years." - Dave Ramsey. Spoken like a true rental property owner. Love the channel but this is disgusting advice.
Wow, you really took a leap there
Loser spent $26k to buy Pokemon cards and lost his wife from it. Official 2024 Dork of the Year!
I made $60k selling cards on whatnot … this guy just didn’t know what he was doing
I feel for the caller about feeling guilty after paying all debt… I’m hoping it takes time to get used to it
That Pokemon call was very valuable. A lot of key points made with that call.
I entered the hobby early and had a chance to make hundreds of thousands. Only made maybe 100k from it instead of a million.
Does America not have debit cards (different from credit cards) for car hire etc?
Debit cards don’t have points, they got us on points with credit cards. Canada is the same too!
Oh, what do the points do? (I’m a kiwi living in aus, very different in both countries by the sounds of it)
@@daisybuckley5846 they don't really do anything. They're just for promotional purposes. Almost a scam. I'm almost done paying off the only credit card I've ever had and will never have another.
We do but not all rental car companies accept them, you often have to jump through more hoops, and there's typically a bigger required deposit.
Best way to invest $1000
They almost never push Jades book…even right in front of her. I wonder why that is??
I don't think it's the kids 'business to go to their mom's BF and tell him to marry her. I would be seriously pissed if my kids did that.
I so wish I could speak with this mom. This could turn ugly so fast just as they said. It is of course her choice but never ever believe everything you are told, most especially when ‘Love’ is involved.
@@anniethomas451.. marriage doesn’t provide all the protections that you may think it does especially with prenups and wills.
Agreed. We need more information about mom’s financials. Daughter said mom would sell her house but didn’t say how much the profit would be. If boyfriend gives mom an allowance .. properly managed there could be some left for savings. So, there would be very little risk if she worked it right. If he then left her, she would have her savings.
You'd be even more mad if she shows up on your doorstep with her suitcase in five years...
I think it's the principle of the matter. If it's not worth it to get married, it's probably a relationship that won't last anyway. In that case, the mom should cut her losses and find someone who actually wants to marry her.
As a Christian small business owner, I can’t thank Donald J Trump enough for his bravery and leadership. It was amazing to see 2/3 of Americans come together with common sense MAGA values.
I though our 120,000 in 28 months was impressive, only 4,000 left exactly
So Dave Ramsey who braves about being a multi-millionaire has raised his book prices by about 30%... When people stricken by negative economic conditions need help the most, he as a multi-millionaire ,wants to profit off of their pain.
If you can't afford a $20 book....
so i watch the first two hours on my computer and then have to watch the last hour on my phone, no thanks...
I'd hate for my kids to inherit my 403b and go through difficulties getting the money when I die. I wonder if a will is enough.
Do the 403(b)s have beneficiary designations? I'm no expert, but if you have them named as such in your 403(b) docs, I wouldn't anticipate any issues. The same with IRAs. When my MIL died last year, she had her Roth and IRA beneficiaries set up with her accounts. There were no issues accessing the funds and rolling them over to my husband's own IRA. Check with a financial advisor, though, or your plan administrator.
From what I hear your inheritance is almost always taxes
@@bettedavis9261not to cause drama or be nosy, but the feds have a standard way of doing things, if someone in the family disputes something, that’s when everything becomes all hickory docked
@@Jss766the first $16 million are not taxed (estate tax) however there are state estate taxes so look at your local government/state government comments.
If you want someone to have access to bank accounts after your death, the accounts should be marked POD. If you want someone to have access to your investments, the accounts should be marked TOD. Otherwise, even if there is a will, you must wait for a probate date to validate the will and have the executor or account administrator distribute the assets after all bills and liabilities are paid. Any assets accessed by someone with POD or TOD privileges will likely have to figure into the estate accounting in most instances.
So... if I voted for the wrong presidential candidate, I can't give money advice?
Kamala voters (you?) are too smooth brained to help at this point.
Apparently not 🤷🏼♀️
Exactly lollll bingo
I'm sooo glad you said this. I get tired of him saying that. He works it in every chance he gets. If I voted for the right president (According to DR) then, I get a say in your personal life???
What's or who is the wrong candidate.
More and more... I feel "sorry for Sharon "
You can actually read Rachel's face sometimes- that Dave socks the life out of her.
Dave is good at what he does- but he needs to do some work on himself...like the rest of us.
Revelations 7 through 18 are you guys done making that dogs sodas
Yes
"but they even voted wrong for the president.." 😂😂😂
Love it
wtf exactly does he mean when he says voted wrong lmao
Listen to it again, you know what he means.
Ramsey is in the Trump Cult
@@sXePunkV2 That's ironic given that the USA is itself a cult.
The inherrited amount will not be taxable, only the gain since the inherritance. If he can't undo it, then he is paying tax on the taxable amount now, vs paying it at a later date, but one way or the other, he will need to pay tax, so really, no big deal. Bet he got notice, in leagaleeze, and blew by it.
I was never notified. And if I was, it certainly was by snail mail, and Fidelity sends me copious amounts of correspondence pertaining to my personal investments, like annual shareholder meetings, and other junk. Upon all the conversations I’ve had over the years with Fidelity not once did they ever mention this five and 10 year rule
As far as you saying that I only have to pay on the gains. This is not a personal stock investment. This is a 401(k) that was inherited. I have to pay taxes on the full amount of what is in the account, including the gains.
Jade so fine ❤❤
She is absolutely stunning
Indeed she is.
Found the weirdos
@@TulsaDude Bro go shave your back fr
The 401k may have had the Estate named as the beneficiary. This would have caused a 5 year payout.
My father died at a very young age unfortunately, upon his passing, he left no will or estate. All that was left to me, and my brother was that 401(k), and when it was split between me and my brother on that first conversation I had with them they never mentioned anything about this 10 year plan then again this was before Biden was even in office which I’ve gathered that was something enacted under him. I’m not really sure even a lot of the financial advisors I’ve talked to in the last 24 hours are not very knowledgeable on the situation. At least an intimate detail.
@1999VR4 and I can corroborate that both of us weren't financially literate in regards to how we needed to handle our father's affairs. Our father's final 10 years were tumultuous and the last thing he was concerned with was sitting down with a lawyer and his children to discuss his last will and testament. I say that with all due respect. You and I were flying blind and learning as we went.
@@1999VR4our financial advisor is very well versed in it. He explained it in great detail when my MIL passed away in 2023. I'd get a different financial advisor if I were you. They should know this information. It's fairly basic.
I like Dave and think his advice is sound however, this constant political insinuation does drive me crazy.
Just say you voted for K, Nadine. It’s less words
Jade is so quick to brown nose