Don’t Let This Steal Your Wealth! - Dave Ramsey Rant
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- Опубликовано: 19 май 2024
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*Great video!! I have a Roth 401k with my company I contribute 8% of my income to; only need to contribute 7% to get a 50% match. So counting my Roth IRA contributions, my Roth 401K contributions and employer match. My total retirement contributions is 27.7% of a $43,000 in earned income.*
My main concern now is how can we generate more revenue during quantitative times? I can't afford to see my 401k crumble to dust.
My FA Megyn Beth's strategy is the best at the moment, I recommend it for beginners because it is perfect for now and it is known.
Getting Megyn Beth to help me really helped me clear all my debts. I started with what I have left and it's been the best decision I ever made.
You're right! The very first time I tried, I invested $2000 and after a week, I received $8,400. That really helped us a lot to pay up our bills.
How do I contact Megyn???, my 401k needs diversification.
The 40 hour work week teaches you to be on time. And the value of consistent income and work each day.
Working 40 hours a week did not teach me to be on time! I learned to be on time as a young school age child because my parents taught me to respect my teachers, minister, employers. I was taught integrity. If I agreed to go to 8 am college classes I was taught to be my word. If I agree to work 20 hours I will be there as promised.
Emotional decisions are a recipe for disaster. We bought land 11 years ago to build our retirement home, land's paid off and the dream was to do this once retired. 5 years ago it would've cost ~$400K to build, 2 years ago it was (est.) about $650K. I'm now retired and trades have lost their minds... estimates are now between $1-$1.5M. After months of trying to figure out how to make this work, we've decided to walk away and sell the land for a small profit. My wife and I were devastated but we'll be damned to put our retirement/savings at risk to move forward even though everyone says it'll be worth $2.5M after we're done. That was never the point and would rather be hurt than house rich, cash poor. On to Plan B.
Thank you Dave! much needed re-assurance for me today
💜 A great reminder not to let anxiety dictate your future 💜
Rachel is so wise, all the best fam!
I always laugh when Dave says " im older than dirt" haha lol 😂
Old used to be defined as 65 and now if you are alive at 65 you will probably live to be 90 or like Dick Van Dyke at. 98. Still making movies!
I ❤️ Dave rants
We fall into this thinking all the time. But it’s hard not to. That’s why I am unsure about the advice given. “Work overtime and get a side gig to get out of debt” but something always happens! I often feel like if I don’t jump on it, I will never get the things I want or need. For an example, say that I would like a new bed. The bed I have is uncomfortable and old. But there will always be a reason to not get one. We are trying to save for a house, kid breaks an arm, etc. Money issues are never ending. Is it so bad to get the bed so at least in the meanwhile, you are getting a good nights sleep?! I’m rambling. It’s a tough time for everyone right now.
Buy yourself a nice bed. It’s worth it for your body and your sleep. Maybe you can find a great sale. :)😊
If you have a terrible bed, that is a health issue. Get a better bed before paying off debt, but don't use the circumstances to rationalize buying a $3000 bed when a $600 bed would be sufficient.
Study Bitcoin
Think some more. There might be a better way. If option 1 and option 2 aren't good, there will be an option 3
soo true
In order to get job A, sometimes you gotta start doing Job D, Job c etc….
I bought an old rusted trailer to haul a lawnmower around and it serves me a purpose for what I need, my neighbor saw it and bought himself a same size trailer that was brand new, a show piece that cost five times more than mine, then he asked me when will I move that ugly thing as it's making the neighborhood look bad. I looked at him and said, every time you see "Betsy" out here, she just made me $250 dollars. Betsy makes me/saves me $500-$700 a month where he hasn't used his brand new trailer once, and we have had it for 3 years now.
You are very lucky if you do not live in an HOA because the ugliness of your trailer might cause them to fine $$.you or make you move it to a different storage place. People deserve to not have junk in the neighborhood. Could you at least put a tarp over it?
Good advice.
My uncle told me that if you have to make a quick decision you are not thinking ahead.
He was talking about big decisions.
If you only have two choices, you're not making a choice, you're facing a dilemma. Find more options so you're actually making a choice.
How can you be right about so many things!!!
Critical thinking isn't apart of many peoples lives.
Agreed. Look at the way approximately 50% of the country votes. Jack@sses.
Not apart
Should i buy a new fully loaded heavy duty truck? Id just be driving to the grocery store and around town, my old camry runs fine..but im tired of looking poor
Yes you should
Only if it's a dual wheel 4x4, go big or don't bother
You should if you have the cash and all other financial needs are taken care of
You obviously should not. Nobody cares about how your car looks like.. they got their own problems to care about.
Unless you don't know where to put your money and you got more than you need - then you can think about it, but why spend so much money just to go to grocery store? Does not make sense
Would you rather be rich and look poor or look poor and be rich?
People that are true to their craft do succeed! Mainly because there are too many other out there 1/2 assing it!
Anyone who can show up on time, keep their word, and be able to stay consistent with effort/application can find success in the world today. Will it look the same for everyone? No. But i'm living proof of being able to find your way
I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year.. Investment should always be on any creative man's heart for success in life
Thanks for the advice! I'm new to financial planning and wasn't sure where to start. Any tips on finding a reliable financial adviser or resource to guide beginners?
As a beginner, it's essential for you to have a mentor that is verified by finra and SEC to keep you accountable. I'm guided by a widely known financial consultant Stacey Macken
Truly, investing has changed my perspective on how one can succeed in life; working multiple jobs isn't the optimal way to attain financial freedom and unfortunately, we discover this later in life. Currently earn as much as 12 grand weekly and this has improved my financial life
YES! that's exactly her name (Stacey Macken) I watched her interview on CNN News and so many people recommended her trading skills, she's an expert and I'm just starting with her....From Brisbane Australia
This Woman has really change the life of many people from different countries and am a testimony of her trading platform .
*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
Hello , I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Angela Christine Derle, has been an amazing experience.
YES!!! That's exactly her name (Angela Christine Derle) so many people have recommended highly about her and am just starting with her 😊from Brisbane Australia🇦🇺
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦♀️of myself because of low finance but I still
believe in God
I'm favoured, $60K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Ms Angela 😊🎉
We call that ,frozen in fear. Unable to get anything done.
Most rich people stay rich by spending like the poor and investing without stopping then most poor people stay poor by spending like the rich yet not investing like the rich but impressing them
People prefer to spend money on liabilities, Rather than investing in assets and be very profitable
You are so correct! Save, invest and spend for necessities and a few small luxuries relatives to one's total assets ratio.
Thank you Angela Christine Derle for $60,000👍🏻. There are so many opportunities to make money here on RUclips but most people don’t know. Thank you for continuing updates I'm favoured, $60,000 every two weeks ! I can now give back to the locals in my community and also support God's work and the church. God bless America🇺🇲
Hello how do you make such monthly ?? I'm a born Christian and sometimes I feel so down 🤦 of myself because of low finance but I still believe in God.
Thanks to my co-worker (Alex) who suggested Ms Angela Christine Derle
This has been insightful
Caller: Dave we have mold in our house
Dave: sell the car
Rice and beans. Work 90 hours a werk.
”No going out to eat! No going on Vacation! You are going to work ALL THE TIME til’ you get this freaking mess cleaned up!” 😅😭
Dave: "Do you know how many hundreds of millions of dollars of real estate I have? I deal with more mold on a daily basis that you will in your life, small fry!"
I learned many years ago that 90% of problems can be solved by being where you're supposed to be, when you're supposed to be there.
My goal is to have all debt except my mortgage paid off by 2025. Frankly, if I stay the course, be patient, and keep up the momentum that may be a reality by August 2024. It takes some sacrifice and determination, but it CAN happen if you keep at it.
I'm right there with you right now.
It can? Sounds like a pipe dream
What may seem impossible today can soon become your reality tomorrow it can be DONE👍🏽👍🏽We paid off our MORTGAGE in 10 years stay
the course and be determined ( because multiple things will occur unexpectedly) It is a GREAT feeling to No longer have to pay a Mortgage!!😊
I'm like you. A couple of little windfalls like a huge 0% balance transfer that I didn't think I'd qualify for-saved me $2,000!! I only used part of what I qualified for, receive social security..not worried about a layoff..paying the balance off months early. Of course I could get sick..be in an accident..but I have backup plans
Dave Ramsey is so good at identifying human behaviors and laying out simple changes that help so many people make their lives better.
Uncle Dave is a good guy
Tithing your first 10th changes perspective and subsequent decisions
The more money you spend the more you have to work why is this so complicated for everyone...smh
😂
Unfortunately, average people don't think like that. They only worry about what others think about them.
For everyone
not necessarily
investments cost money but yield results long term... whether be stocks or properties or cryptocurrencies... education is an example that cost money but is an "investment"
Negative people need to be avoided. They are never happy. The never hear complements. There are only two options, it is either super positive and good, or else it is a total disaster.
100 percent. Negative people are the worst.
Good enough is in the eye of the beholder, don't settle
So just a quick question. My wife and I make about 45k a year. We live in rural Alabama. We are about 16k in debt that we are working down. We want to buy our own house in the next few years. My question is how do you recommend people with lower incomes invest? As in like what to invest in and how much to invest. We could potentially increase our wages but I’ve played that game where I chased money in the past. I left a job I loved for more money and hated the new job with a passion.
Again I’m just looking for some input and some harsh truth if that’s what you think I need.
My wife and I invested in a Vanguard Index fund. It has low fees and is easy to use. It has worked out pretty good for us. Of course it is tied to the stock market, so there is some risk.
@@b-rad-3849 yeah I definitely expect some risk. I’m 28 and she’s 26. We are watching our parents who are into their 50s now and have very little for retirement and still live paycheck to paycheck. We really don’t want to be like that. We don’t necessarily have to be millionaires but we want to be comfortable enough to retire without working forever.
Get completely out of debt first, put money back for emergencies. Then start looking into investments.
@JustinG9698, as has been said in this column, pay the debt off as soon as you can. Generate a emergency fund and then start saving. I am of low salary as well and things really started going my way as soon as I did that. It's not how much you make, it's how much you save.
Thanks for the advice everyone!
Dave is living in fairytale land! Is he talking about a contractor who shows up when he’s supposed to, AND does good work!!??? You’d have a better chance of spotting a 🦄
I’m tired of planning for the future and never enjoying the moment.
I feel ya I worked everyday for seven weeks straight just to give me a better future
You can do both! If you have a good plan for the future, it becomes automatic---and this leaves you plenty with which you can enjoy the moment.
You can do both if you take the time to plan.
I am curious, what is it that you would like to do now that you are sacrificing because of the plans for the future? I am asking because many can relate to your comment..
@@n1k01k0alcohol expensive vacation new car smell eating out every day
talk about how to save on taxes. Government Robbed me this year
cant ..not really....thats why its sad...taxation is theft
Make less money. You'll save on taxes.
If you feel robbed this year just wait until the Trump taxes expire. We are all in for a tax burden
@@Joce123 W8 what do you mean?
Trump tax reduction plan expires!! Plan for it unless you can convince the politicians otherwise.
You’ve only got one shot, do not miss your chance to blow. This opportunity comes once in a lifetime, yo!
Eminem
Having mold can be life threatening.!
You are 100% missing the point unless you are trolling with a snarky comment.
@@someoneelse6934 No Iam not ! Dave is just wrong . Mold is very harmful.
I can't believe they have to say these things but they do
Pray for Wisdom. The Holy Spirit, called from ancient times, the Counselor and Comforter, will, if you have faith, bring clarity of thought and calmness. That has been my experience.
Towards the end of the video Dave is talking about a concept that most people fail miserably at for various reasons. Sometimes it's because we think we're better than we really are. Other times, it's because upfront we don't want to disappoint people.
Note in a world of perfect information you could hit the 🎯 100 out of 100 times, but that's not real. So...
That concept is...
You should always UNDER PROMISE AND OVER DELIVER!! Do that and you'll be a hero, a miracle worker!
But no, most people over promise and under deliver, and that doesn't end well.
Dave is cooking.
A lot of hit dogs hollering in the comments because they feel targeted. You made bad decisions. Own it. Seek options. Move forward.
If that's hard for you, life will be tough. Still gonna be your fault.
If I have been fighting cancer at 0:50 and am gunna lose, then I am going to use all my money to enjoy the life I have left.
I know people living with cancer for many years. Would've depleted their funds if they had done that. Instead, they kept living properly and enjoying what they can while also being responsible. 😊
I have been married for 40 years and have 3 grown boys who are also married.
So in my case I would spend a little more but not enough to cause problems for my wife and family.
But I would spend more time doing things I like.
One thing I like to do is surprising my wife with day trips in the area.
I will joke with her that I am going to kidnap her and will not tell her where we are going.
We go to places like farmers markets, Amish stores, art museum, etc.
Places that do not cost very much and are 2-3 hours drive max.
We both have a great time.
@@caliopeknows844: I didn't previously know it was improper for someone who is dying to spend all, or nearly all, their money.
@@genglandoh I was going to say you should enjoy life now but second half of your comments shows you are already doing that. Most of the most enjoyable things don't cost much.
Medical bills are the number one reason for BK.
This is what poor people and broke people get wrong about wealthy people. It’s not always enjoying the money by blowing it, it’s us having pride in being a millionaire, and wanting more.
If that's what gives you pride, I feel sorry for you.
Living a good virtuous life (or trying to) is what gives me pride and the amount in my bank account has nothing to do with that.
I'm alot like that
I worry about the dollar and do you get gold. But then now I thought what would dave do. He would tell me to get off the internet quit watching utube .PERIOD!
The question is how much do you trust Woke Liberals and Keynesian Marxists when it comes to managing the currency? Has your life improved in the last 4 years like Janet Yellen suggested?
Getting my own Truck has always been my Dream for my business. I just acquired 2 recently, earning $12K weekly has been really helpful. I can now give back to the locals in my community and also support Charity Organizations.
But if you give yourself a false singular option, that makes it easier to justify minimal to zero effort ever placed into achieving goals.
It's bad work ethic.
Failure is part of life. Embrace opportunities to learn, and you will get further faster. Most successful people get things wrong a few times before they get it right. 💛
Doing nothing and waiting can be the best decision
Many are afraid of the stock market declining. I’m actually hoping it will, as that’s the best time to buy. There was a financial YT channel that actually said you should pray for bear markets, as they are golden opportunities to invest .
Currency collapses are also a good time to build wealth as everyone around you goes broke.
Dave about to start rapping 8 mile....
Decisions for young men:
*Put 20-30% into 401k - Roths
*Enjoy a used beater car - it's fun.
*Don't think renting is bad. Save, save and save. Enjoy the freedom and buy later with cash.
*Don't marry and have kids early. Date, date and date. Plenty of fish in the sea. Get experience.
*Enjoy your work and freedom as it will make you a better man.
tell that to Eminem!
Yeah those crazy little chocolate candies have done rather well for themselves.
I’m favored financially with Bitcoin ETFs approval, Thank you buddy.$32,000 weekly profit regardless of how bad it gets on the economy.
Same here, I believe the Bitcoin ETFs approval will be life changing opportunity for us, with my current portfolio made from my investments with my personal financial advisor 1 totally agree with you
YES!!! That’s exactly her name (Elizabeth Thompson) so many people have recommended highly about her e from Brisbane Australia…🇦🇺
I’m a long term investor, I withdrew my profits of over £61,000 during the Covid-19 pandemic.
She is my family’ personal Broker and also a personal Broker to many families in the United States, she is a licensed broker and a FINRA AGENT in the United States.
This sounds so good and I would like to be a party to this, is there any way I can speak with her?
Dave thinks there's a lot of Women capable of being wives out there. 😮
Most are 304s or on Only Fools
I was reading about the Oklahoma father (Jonathan Candy) who went through his house and killed all his children the exact moment Dave mentioned killing the children in the house.
Great news cancer patients: Dave says you have more than one shot at living. 😎
Time stamp for where that was said?
First
AVP 👽
What's going on / .../ Basically / / some one has been studying / I'm impressed / / good 'A-gsme
*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
Hello , I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Angela Christine Derle, has been an amazing experience.
YES!!! That's exactly her name (Angela Christine Derle) so many people have recommended highly about her and am just starting with her 😊from Brisbane Australia🇦🇺
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦♀️of myself because of low finance but I still
believe in God
I'm favoured, $60K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Ms Angela 😊🎉