Full Show: Clark Stinks! and When Should You Cut Off Adult Children Financially?
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- Опубликовано: 4 июл 2024
- It’s time for "Clark Stinks!" Christa reads the latest "Clark Stinks!" submissions and Clark responds. Also, a recent survey discovered that 60% of adults continue to receive financial support from their parents. On average, parents are giving kids $1,384/month. When is it time to financially cut off adult children? Let us know what you think in the comments.
Plus, Clark has an important Memorial Day message to share.
All this and more on the May 24, 2024, episode of The Clark Howard Show.
00:00 - Intro
01:14 - Clark Stinks - Clark’s Crazy Idea To Fix the Housing Crisis
07:23 - Clark Stinks - Renting at a New City
08:46 - Clark Stinks - EV isn't Political
10:31 - Clark Stinks - Cheap TV
12:03 - Clark Stinks - DVD on Free Neighborhood Library
12:59 - Clark Stinks - Selling Home With Equity
14:55 - Clark Stinks - Premium Fuel
18:25 - When Should You Cut Off Adult Children Financially?
25:05 - Ask Clark - How to Decide How Many Kids to Have
28:08 - Ask Clark - Renting Truck to Pull Moving Trailer
20:06 - Ask Clark - Marry the House Date the Rate
Related resources:
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clark.com/askclark/
community.clark.com/t/what-is...
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My favorite show on RUclips! Thanks, Clark!
💚💚💚
Hi! Last week you spoke about getting rid of the storage unit, this week is cutting off adult children. Well as it turns out, I have been paying for my adult son's storage unit for about 3 years now. I just told him recently that I just can't afford to do it anymore. It started out as a low rate and kept going up. Now I am trying to tell him to downsize to a less expensive unit. I started weaning almost a year ago and hope he will pay from now on. It is really adding up.
Maybe forward the bill to him. If it does not pay on time then they will "handle it" instead of you.😅
I never understood the relationship people have with their stuff that they're willing to pay to house it separately from where they currently live.😮
What are the odds that the replacement value of the stuff in the unit is more than what you've paid to store it for three years?
The best support I received from my parents when I was 16 years old was "Get a Job". And I did and never considered asking them for money and never did. I like my independence.
I told my children that I would cover them as long as they were in school. Once they graduated or quit they had six months and then they would be on their own.
Good response
Great show ! Love Clark stinks (even though he doesn’t ). We all learn from the Clark Stinks segment. I was recently watching a video about mortgages and the interviewee was a mortgage professional. This person said 85% of mortgages are owned by the government. The government buys the mortgage from the lender sometimes within minutes of the transaction. The government wants the mortgage securities for liquidity. You may think your mortgage is through a bank or mortgage lender but probably it’s not . The same with student loans most are government funded. The professional also said if the government were to no longer buy up the mortgages there would be no real estate market. The government is heavily involved in the mortgage industry. This fall before the election there is talk of a new homeowners program. Some families are supporting adult children and this enabling will not allow a person to be independent and learn skills to be responsible and resourceful. I hope families continue to have children! The sacrifices are worth it IMO. Have a wonderful Memorial Day weekend Clark, Christa and Clarkies 🇺🇸
Has anybody seen how much land gets destroyed to extract what they need to make the batteries for electric vehicles 😮
My sister-in-law worked until she was 75 and supported her two sons. She paid all bills and took them groceries. She died one year ago. They inherited enough to be comfortable. She did not use heat or a/c unless absolutely necessary because she said she could not afford it.
BANNER Mispelled on YT .. 'Financilly' should be 'Financially'. Just FYI from a proofreader. 😊 Thanks.
You're right! We're so sorry for the mistake. It has been fixed!
I tried to be very open and vocal about our family expenses as I raised my kids. I am still helping them financially in some ways, but they are all in school and recognize our sacrifices.
The part regarding electric cars that scares me is making and recycling the batteries. Plus when they catch on fire they can't put them out quickly.
Two things can be true at once. First, Clark is correct there were stupid lending practices made by the banks and investments houses in 2008 but government push for housing for low income people did not help. Best indication of this was the fact that Freddie Mac and Fannie Mae were laden with subprime mortgages and were taken over by the Fed (effectively). This was done despite Fannie's charter saying they can only purchase safe mortgages. So you had a system where the government pushed bad mortgages and lowered lending standards that banks would not have tolerated otherwise, once banks did this housing prices increased and they made tons of money which caused them to push looser standards, you then had GSO entities which effectively purchases those bad loans effectively offloading the risk and the cycle just kept repeating until it was unsustainable. Much like COVID, everyone involved did not come out clean.
Root Cause... Root Cause... Clark needs to learn...
You'll never hear a consumer advocate blame the consumer for anything just like a politician will never blame their constituents for anything. Those of us who pay our bills know who's to blame.
@@montezuma6962 There is plenty of blame to go around. 💚
No point in buying higher priced gas.
In 1983 as a 24 year old I had a 15% 3 year ARM... Fixed rate would have been 17%+.
Yes I find it amazing these young people whining about 7% mortgages today. I have a 13 percent mortgage and eventually got it down to 11%. And I still managed to save and buy a house. These kids are making four times what I mean when I got out of college and the couches cost four times as much. To me that's not that big of a deal m
Mr Clark should use the expression the expression Save our Habitat. the planet will survive.
Clark is rambling good podcast for double speed
Ethanol hurts old engines too... Non ethanol - non ethanol - non ethanol!!
You definitely should not have published that NAR sales pitch! Those criminals need to be shut down!
Staying home until you're 45 is over rated. 😢😢 you can only have so many roommates
I love my RokuTV! I received it in 2017 as a graduation gift. I’ve loved it ever since. It does randomly restart while I’m watching a show. Doesn’t matter the channel I’m using.
Keeping interest rates artificially low for so long did not PREVENT a great depression, it only DELAYED it. Government agencies cannot keep us prosperous or stop rich people from owning the legislators and bureaucrats; the principals in the original U.S. Constitution and free markets do that. If you want a depression, give the government more power.
My first mortgage interest in 1998 was 6.75%.
Same April 1998, it may even been 7
They dont usually rent trucks to tow out of state unless its a moving truck with a trailer, or car trailer. Recommend Penske over uhaul.
Well Clark I'm locked in a 3.0 % 30 Year Fixed and i am NOT MOVING !!!
When you consider yourself an adult. You should be responsible enough to make your own money. Parents raise you and that cost enough money so they should be off the hook when you leave home. If you want to consider yourself adulting then you shouldn't still expect an allowance from your parents. That's ridiculous.
I got my mortgage at 3%, if I had today’s rate my pmt would go up by $1,500 for absolutely NOTHING. Not giving it up.
Thanks Clark& Team!
That is part of the new generation clark. My boomer generation of those of us between 55 and 70 never did that kind of thing. We were told once you get out of college you go get a job and have a great day. This new generation in general appears to be a little bit spoiled. Also with unrealistic expectations. I paid 13% on the first house I bought out of college. So I find it amusing that they consider 7% a big deal.
And how much debt did you incur in college?
@@lenblack1462 none. Because I worked every summer, went to state school near my home, paid for my own books and meals and entertainment.
Boomers are not aged 55, that’s GENX 😂😂😂
@@TheLifetraveler1 You think that's possible today?
@@lenblack1462 yes I think it's possible. I was making $25,000 and I bought a house worth $90,000. Many recent graduates including my niece came out of college making more than $100,000. So a 350,000 house should not be a big deal if, they are not trying to take off a year to go find themselves, or take a vacation for a year, or volunteer for the peace corps, or wasting their money on stupid stuff that makes no sense. I know young people who immediately got out of college and bored a Mercedes or BMW and are trying to do the high lifestyle. And have no money for something of true value like a house.
The core of the housing problem is the supply-demand imbalance. We should encourage more homebuilding, possibly through subsidized lending or tax incentives. Simultaneously we need more skilled trades to build and maintain those homes, so reduced tuition or other incentives for students. Expensive? Yes, but cheaper than subsidizing the homeless industrial complex.
In regards to the last call... Most long term estimates of housing appreciation come in between 3.5 - 4.1%. I can't speak for the 1971-1993 time frame but for the average 22 year span, prices would rise about 125%. Far from a quadruple.
That was a criminal NAR sales pitch.
I purchased my home in 1986 for $86,000. It is now worth in excess of $325,000. That is darn near 400%.
@@lindap.p.1337 A $86K home 38 years ago [worth $325,000] today is a 3.5% annual appreciation. That's very close to the average. The same amount invested in the S&P500 over the same time frame would be worth $4.85 million today.
@@lindap.p.1337 $86K house bought 38 years ago @3.5% is $320K. So, you're right at the national average. Interestingly, the same dollar amount invested in the S&P500 over the same time period, would be worth $4.8 million.
@@lindap.p.1337 I'm not saying you shouldn't buy a house. Especially if staying in the same house for 38 years, you should buy a house. But strictly as an investment, that's a poor return. It's roughly 3.5% average, but it's actually way less than that after you factor in the $150K or more expenses over that time period.
Still, you have to live somewhere, so buying is better than renting in this case, but don't confuse it with investing.
The difference between 87 and 93 is knock and engine combustion.
Maybe older cars, say pre 1990’s. Modern cars' computers compensate for the various octane ratings.
Can I hook up my Roku unit to my Roku TV my Roku unit has a feature that keeps the sound even so the commercials don't blast Roku TV that I recently got does not and I certainly hate those loud commercial commercials.
Yes you can hook up a Roku stick to your Roku TV. I have done it with a Roku TV that wasn't performing as well & the Roku stick works much better. I do have an issue of not being able to control the volume with the remote from the Roku stick & have to use the TV remote. It isn't much of an issue for me because the TV is not my primary TV
yes
Thank you Team Clark.
Wlark Woward 😊
hey, I made it to clark howard. having had to deal with idiot bankers, it's just f'ing bad I saw a great deal, refinanced my 30 year loan to 2% at 15 years and knocked of 10 years of payments. Sucks to be them. Am I stuck here? Well, this is my forever home, I'm retiring this year and over the last 5 years I grabbed interest rates at dirt cheap. Now, my mortgage and HI loan make no sense to pay off. Boo hoo.
As far to your specific idea, Clark, never discount the words of Ronald Reagan, "I'm from the government and I'm here to help." The entire 2008 crash was caused by the government. Frank and Dodd and Clinton were complete tools. Be careful what you wish for.
Great show. You guys don't stink 😭
Tell Michael that a car was invented years ago that ran on a gallon of water. The invention was bought and hidden away. So you see it’s not about environment. It’s all about profit and greed.
David is completely wrong. Renting only would have cost him money because he coincidentally moved when interest rates were 0%. If he happened to move when interest rates were high and then moved in the opposite direction, the same decision could have cost him an equal amount of money instead
My parents never did a thing for me. At age 10 they set me to work if I wanted new clothes for school otherwise I'd have to wear clothes with holes and patched together. Shoes NAILED together. Which would cut through my feet. My older sister was treated like a queen, the youngest sister was treated like a princess. Me and my eldest sister were treated like hated orphans. My eldest sister and I were the only two who grew up and worked for a living while the Queen and Princess lived off the parents. Queen was supported by the mother. Princess by the father. My eldest sister and I always understood clearly if we needed help coming home was never ever an option. Eldest and I never had children. What Queen and Princess were taught was to be lazy, arrogant, entitled and mean spirited. STOP supporting your adult entitled brats.
Welcome to my world. I enjoyed reading ur comment. Believe my story is similar to yours maybe slightly worse.
#BonusTerm - #FailureToLaunch 😎
Sell the old house for sure.
Someone needs spellchecker ‼️
We're so sorry for the error! It has been fixed!
🕊Good Morning!☕️
Hi Clark 👋🏽 Christa
Happy Memorial Day everyone!
HOORAY, FRIDAY!!!
Mom wants all her children at home forever. Plus all her grandkids I noticed a lot of grandparents raising their daughter and her kids at her the grandparents house.
Investing in your retirement is not just about securing your future; it's about ensuring that your golden years are filled with freedom, peace of mind, and the ability to enjoy the fruits of your labor. The best time to start investing was yesterday; the next best time is now. Don't wait for the perfect moment-create it by planning for a financially stable and fulfilling retirement today.!
With Bitcoin ETFs gaining popularity, some predict the price might reach $100k. Should I consider investing my $500k cash savings now, or have I missed the optimal time for potential gains?
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
Successful investment starts with clear goals and risk assessment, often best done with a financial advisor's help.
Celebrating a $30k stock portfolio today from a $6k start. Investing wisely has given me time for family and future plans.
James Clark's market insights have consistently led to profitable decisions.
Clark doesn't stink but i like it anyway.😊
Clark recycling in the 70's:
ruclips.net/video/JzXv82C8F6o/видео.htmlsi=yWfgbUr4eBfOmLva&t=542
lol
Have 2 or more children, the best one can do for their kids.. my daughter is an only child, she now says she wishes she had siblings
But kids who have siblings wish they didn’t. Damned if you do, damned if you don’t. I had a sheltered upbringing and I think siblings might’ve helped me learn how to socialize better. I’m well into my 20s now and still quite inept. But I don’t directly blame that on not having siblings. I think that could’ve mitigated it but it wasn’t the root problem. Your kid will probably turn out fine.
Real estate is 99% of the time a wealth builder..
Just not a very good one.
We completely welcome differing opinions but believe that the only reason to buy a house is to live in it (unless you're buying rental property). Do not expect money wealth from homeownership, but you can expect the wealth of family, love, and memories you create in your home. 💚
What if the parents never even finished school, as appears to be the case with the producers of this video? If you produce and publish a video whose thumbnail has the mis-spelled word "financilly" in literally the TITLE of something you clearly spent a lot of time on, then maybe you shouldn't be offering your 'wisdom' to others.
Rick from Texas stinks.
Which one was a Rick from Texas? I just went through each chapter and none of them were from a Rick
@@KufLMAO Former governor Rick Perry maybe?
@@drz4073 but why… why would they choose a former governor? Abbott is not only the sitting governor but has also gone a lot further than Perry. Literally out there defying Supreme Court rulings and pardoning murderers. Much, much stinkier…
Vasectomies saves wallets. If Reagan, Bush, and Trump did not destroy the middle class with their union busting and tax cuts for the rich, married couples might be able to afford kids. DINK used to mean a life of luxury. In the age of the Republican, it is a necessity for those of the working class.
🤡
I hope you are enjoying paying double for car and mortgage payments, 50% more for insurance, 40% more for groceries, 75% more for Fast Food, 30% more for gas all to subsidize the Biden wars, Illegal Aliens and legalized retail theft. Oh and the UAW is pounding the final nail in the coffin of the US Automakers... Enjoy driving your non union labor Tesla along with Clark...
Low Birth Rates destroy economies and countries....
Pensions sustain your life but do not create wealth. Living below your means and saving that money and investing for retirement with Roth and Traditional retirement accounts/401k’s can help you create wealth and if fortunate you can pass that onto your heirs. Work hard and save.
Clark is a but myopic about dirty American behavior like crooked family courts and laws, corporate bad actors, and the general disintegration of the USA
Trump is the best. Vote him in you will have a better life
He's a criminal, you must like crime.
@@lenblack1462 Trump is the best. You will have more money in your wallet
Someone should bring up 2 points. Clark over use of " I hate hate that...." And how clark can be so greedy and cheap when his networth is nearly $100 millions. Hope he isnt that cheap with his staff...
You are a troll.