We Have a $860 Car Payment!!
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- Опубликовано: 16 июн 2024
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It really seems like having a car payment is the main thing that keeps people in poverty
That and children yeah. And having POS children that have children and dump them off on their parents.
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.
@@heididiego3719 Good for you! This decision will make a big difference in the long run.
Usually. It's not bad if you have a car payment for a few years and keep the car for 10+ years.
@@heididiego3719 where is it in your debt snowball? Knock that thing out
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
Well stated and something to live by!
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.
@@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
Yeah, impluslive buy hurts long term😭
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.
I cant imagine not having anything saved up by 70.
Yeah, this is very odd to say the least...
Straight up.
He was retired military so he gets about 30k y/r plus free healthcare they’re fine
Right
@@nicholasavis1705 Yep.
Someone told me that “bills don’t go away, so might as well drive something nice” Stupidest statement ever made.
Then I opened my eyes and realized the bills DO go away I make them go away....what?!?!
Plant Strong Bro 🌱💪🏼 best comeback ever! Right on! 👍
Literally the dumbest thing I've read all day!
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.
that's why dummies think it's ok and normal to be broke.
$860 per month for a 4Runner? You better be living in that car because that's rent money.
TRD pro maybe?
Lolz my rent is even lower monthly price than that
@Atty. Johnny Sins Personal Finance im independent, and I live in texas so dont judge it makes you sound like an amature
860$ a month for rent? In what city? Almost double that most places near me
D J Negative equity from a previous car. 4Rs aren’t 860 a month unless it’s a short term.
Saved up purchased my cars cash. Not having a car payment is a blessing. Definitely something worth working towards
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.
@@tinalindsey1598 I hope he keeps that vehicle for a loooong time. Well done to him
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.
@@shaloon64 He said he's going to keep it ten plus years.
@@shaloon64 thanks! Yes, ten plus years!
This is so sad and everyone should pay attention now
That’s why I watch this channel to see old people’s problems and prepare ahead.
@@thecatnextdoor12 The same thing Jay Shetty talked about to fast forward your life and ask yourself is this what I want to be?
They are too poor to "pay attention".....
"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.
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
@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?
@@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
@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.
She married him for love.
You never... never... NEVER let your CDL expire. It’s a $50,000 a year job in your wallet.
at 71 who knows how much longer he'd be able to renew his medical card for.
I wouldn't drive even local home everyday for less than 100k lol.50k is probably 25% and below pay
right ! its an extra 20$ 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
@@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
@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.
Lessons learned, prepare early and aggressively.
69 years old should have millions saved up and retired a long time ago .
Amen
@@sloth6765 la la land!
@@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
@@shnooby2 If it was not hard, most people would be able to achieve that.
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!
I agree!!!
I'm trying to pay off my used car by next month. Only $4106 left until I'm debt free!
👏 👏 👏 That's great!
Yeahhh well.done!!!!
Yay!!!👏🏽👏🏽
You got this-great feeling to be free
Why is that ironic?
they've been spending crazy for years and now the panic sets in.
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!
How?
@@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.
Good man
@@BigBear81
What age (as in decade) are you if you do not mind me asking.
@@bighands69 38
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.
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.
Samad Ahmed What did you do for work? If you don’t mind me asking? How long ago did you retire? Thanks.
@@samadahmed7804 what career was that ?
@@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!!!
@@chillnick1865 I was a LT for the state police. Worked 20 years and retired about 2 years ago.
He worked at a company for 47 years and have very little in his 401k? That’s crazy....
He’s got there as much as he’s put in there.
he's been spending 20% of his money on car payments, not enough margin to put money into the 401k.
@@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.
Imagine choosing to not get free money from your employer, oof
@@cooleobrad 1/2% of monthly gross, $5000/mo = $25
That's what my employer offers on 457B
43% pension on 20 yrs.
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.
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.
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.
It all depends on how much you earn and save.
@@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.
@@kerwin392 😯😱🤯
That man has probably had a car payment is entire life starting the day he turned 18
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
Been there. U grow up thinking its normal
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.
How do they manage to pull that off? I couldn't stand 6 months of car payments.
Probably her car payment. Most 70 year old men don’t care about having a new car
About 20-25% of his take home pay going towards a vehicle 🤧
His car note is more than my house note 😂
but muh truck!
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.
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.
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.
There isnt a getting on track. It's too late.
Alex Colegate until you’re 6ft. under, it’s never too late.
@@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.
There maybe details we do not understand in the story. He may have acquired debt through a number of reasons.
An $860 a month car payment? He might as well live in it!
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
Haha that was my comment too 😂
Dan Jackson 4Rs are very nice, but not that expensive. They are still made in Japan.
230k mortgage at nearly 70!!!! very little retirement funds and an insane car payment wow
230k mortgage? 🤣🤣🤣🤣🤣. So bad that I missed that part because of the 900 dollar car payment lol
230k left on the mortgage. I cant imagine the monthly
Doesn’t look too good for this family. I hope they can quickly try to turn things around.
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
At that age, I’d buy the most expensive house I get approved for, and take it for 30 years payments.
$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.
@Larry Byrd I think she said four or five cars rolled into that mess.
3 cars
Wonder what they paid for that car. Based on the price, i would expect it to be a luxury car.
70 years old with a quarter million in mortgage debt, you only have yourself to blame
Nah...think you forget all this financial knowledge and access wasn't around back in his day...just has to do their best now.
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
Truck drivers are the worst at saving up haha. I only know 1 guy that does long haul and few employees.
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.
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
And that, folks, is why you start saving for retirement when you're young, and get out of debt before you retire.
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?
I thought the same thing. Something does not add up. They should be bringing in at least $5-7k/month if not more.
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.
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.
I was thinking the same. Should be getting SS for the gk with autism as well.
@@TimeisUp22
" it never is for any old people "
Never, Any, ...
We get ~$5K/mo from SS
He did 21 years in the military and 47 years at other company he should be ready for retirement.
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.
@@lovethemflowers yeah figured as much but still should be prepared.
@@lovethemflowers Not necessarily. She said he was turning 71. The US military catering division employs potato peelers at 2yrs old.
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.
There's no security in a 9-5
There's no securty in a business either tbh
Thembelani true
Exactly right. No 9-5 will ever offer you security. That’s why I work afternoon shift.
My company told me that we are a family.
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.
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.
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.
bare minimum, could easily had a million in investments at this point too, with some diligence and planning.
They have been living grand... Lord have mercy, what a mess...
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.
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
@@samadahmed7804 youll be back to work if you make it to 70
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.
Same for my mother in law but no home. Makes me nervous if Im her retirement plan.
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.
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!
What kind of car did you buy?
A shitbox
@@paveldalesssandro6920obviously not.
If a salesman told me the car payment would be 860 dollars I would probably laugh myself silly.
I let him slap me and walk out
@@droppinbaums
Id slap the salesman and walk out lol
@@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
2020 Ford F-250 4x4 Super Crew Platinum
The payment was set at $860 because $900 seems already like too much.
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. 🙏
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!!!
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.
He can probably get a job driving for door dash
You might be right, but don’t throw out all hope of this man turning things around.
She said the autistic child is his so she is probably the second or third wife . . .
My sentiments exactly!
Then sue them for age discrimination.
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.
Katrina Umana My jaw dropped when I saw the notification on my screen and just had to watch this mess!
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.
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.
@@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...
@@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 ??
He had 50 years to pay off a 30 mortgage.
This is so very sad.
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
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.
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?
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.
Bingo! Stop letting people that you love take advantage of you.
You need to cut that off if you havnt already
if you can't get on the same page financially, maybe time to let that go.
Still with her? Bet not
My mortgage doesn't cost that much!
Life goals: Don't be this couple.
“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!
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.
You are so kind Dave Thank you
Still paying off seto kaiba for borrowing his blue eyes white dragon
LOL
Lolz rofl. What's the interest rate
LOL
@@triad6425 29.9 percent compounding interest
I rather just get sent to the shadow realm than to owe Kaiba
I hope with all the stress their going through they make it.
This lady doesn’t seem to have much info about her husband lol
She is sweet.
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....
Its cuz you have a kingdom mindset that's why
@@felipebarron3479 I hope you weren't being sarcastic because of my name. Lol...
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.
I like the 'yeah right' response to Dave's happy birthday😄
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.
I am so sick of these people with oversized houses and expensive cars whining that they have no money.
Whenever the car payment is over $800/month, I'm always hoping Dave will ask, what are you driving? A Lamborghini?
Maybe in the 1950's. You're not getting a Lamborghini for less than 4-5000$/month.
No way...even a BMW 7-Series lease is over $1,000 per month. A Lamborghini would be many multiples of that.
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.
Naw just a 4runner
@@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.
My pal has a $1,000 monthly payment for a vehicle.. 🤦🏽♂️tried to tell him
He better be driving a hellcat for that price 😂
SoHo Don he wanted a hellcat, lol he went with the 2020 Mercedes GLC 43
@@SoHoDon_718 *Porsche
The car is his identity. It has become more important to impress others than not eat dogfood at 80.
@@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.
A lot of ppl struggling in America rn
Naw, They're trying to keep up with the Jones. They're living way above the income
Yes, yes they are!
These people are struggling due to their poor decisions.
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
Lol, the ad before this video was a local car dealership advertising "no credit, no problem!"
I’m always left speechless that people get to this point.
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.
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.
Good point on Dave's "gifts" haha.
At that age, the real winners are UHNWI
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.
P
Love these type of Calls! Let's get my Popcorn and Pepsi!!
I prefer Sprite lol
Sprite doesn't go good with nothing! Pepsi all day!
Hmm...yes, the show is entertaining, however, its kinda crass to be enjoying other people’s suffering.
@@cammims7645 you take that back about my sprite!
GL Right everyone knows Sprite goes harder
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.
My $120 car payment is looking pretty good now 🙄
Seriously I'm over here debating whether to take on a $125 car payment.
What’s your income?... doesn’t matter sell the car.
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.
Jesus...
Everyone dies. Not everyone lives.
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.
we paid off both our cars 6 months ago, thank you Dave Ramsey 🙌
What's your household Income! 😂😂 gets me everytime.
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. 😂😂😂😂
They look rich!
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.
I know someone who is doing this exact thing today. My husband and I tried to talk them out of a new car loan. They think we are crazy and jealous just wish people would learn from other’s mistakes.
This call is why I'm a Ramsey Preferred Coach, and this call is why I am working hard while I'm young.
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
Wow, I thought I was stupid
We're ALL stupid to some degree. The level of stupidity is in direct proportion to the amount of debt you have.
Omg I love this show 😍
You guys are so sweet.
I can’t imagine being in that situation! I hate having utility bills every month. Having roughly $280k of debt at 70 is suicidal!
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.
Bless you Beth......it will all work out once you are both on the same page.....it will get easier in the end...stick with the program though.......😇
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.
Looks like over 40 years of throwing money away.
OMG! “I just found out this morning that we don’t have much in our retirement account”
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.
I really hope they make it. And I'm sitting here thinking I got it rough.
In Dave Ramsey’s voice, you know what you have when you don’t have payments? Money!!!
FACTZ!!!
I was fired after 47 years? some people just astound me lol you plant corn you grow corn the time for harvest has come and gone
This makes my $169 car payment feel like nothing. I hope they get through it, I can’t imagine :(
Omg how!!! We are military so I can’t imagine working after military and getting retirement plus VA disability and being so far in debt.
Typical military, that “steady” paycheck is a false sense of security- va disability/retirement/working and still behind smh
Typical military? What do you mean by that?
The Stay at Home Marine “typical (of the) military...he’s not blaming the individual, but rather a known flawed system.
I'm shocked that he's 69 still working and so much debt still over their heads. He should be ramping down to retire but unfortunately that won't seem to happen.
We’ve got the same name neato
Neal Bakker how is the system flawed? I’m in the same status as the caller and know plenty others and all aren’t in his position. Some folks just aren’t good with money...military or not. So I guess the entire financial world is flawed.
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.
Most likely retired from Reserves or National Guard
Gotta teach them early
Thankfully I had started working towards getting my debts paid down at 28. All I have left currently is student loans and my mortgage, and hopefully I'll have those paid off by 35. Couldn't imagine being in their position at 70.
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.
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.
Tale of caution.
I know a RUclipsr 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 RUclips videos to afford it. I told him what Dave always says, "You're not driving the car, the car is driving you."
I have a question....so if they let go of the 4runner and turn it back into the bank as a voluntary repo.....you still owe the difference of what the bank auctions the vehicle for minus your loan amount.......if you don't pay that difference its a big hit on your credit.....is it worth it? just curious because i have been thinking about doing that with my car because of the high payment
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
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.
@@eurekahope5310 She said it was previous car loans rolled into it. It's not from one car
@M M Thats my aim
Thank you 🙏
This is just so sad at the age of 70 🥺🥺
Some people make 60k a year and retire very wealthy and others very broke .
As John Maxwell said “ every choice you make, makes you “
I got a $799 car payment when we were desperate for a car. It was a one year loan though. Paid that off earlier this year just bought one cash to replace our other car.
My car payment is $300 and I think it is already crazy expensive 😪😪😪
Because it is. Other people having it worst doesn’t mean anything.
I agree on selling the car but Dave makes it seem like it’s so easy to sell a car you’re upside down on
Another irony is, "get a cash car".... because I have $5-$10k lying around 🤦🏾♂️
Adrian H you can get a good car for a grand dude.
And if you have mechanical knowledge you may be able to get one for 7-800.
Sell one, drive the other for a few months and pay cash for a car with the money saved from the car payment you no longer have.
@@bigad23 you would if you didnt have a car payment and cut dow on unnecessary. I just sold my car I had payments on and my bank account is going up quick! Debt free. His plan works. Although not really his plan... just common sense that we forget about
@@Cody_Ramer where can I get that car?
Some people are not THINKING !!!!!!!!
Just working doesn't work. Good advice right there.