Why Slow and Steady Always Wins the Race | May 8, 2024
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- Опубликовано: 7 май 2024
- The Ramsey Show (May 8, 2024)
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Dave Ramsey & Rachel Cruze answer your questions and discuss:
- Avoiding whole-life insurance,
- Why you should listen to the old rich people and go slow,
- "Should I take a pay cut to get into a better job?"
- "How do I work with my wife on our finances?"
- "Should we contribute to a 529 over retirement for day care?"
- "How can I get out of my car debt?"
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Rachael is always laughing at Dave's rants 😂 her face is so expressive.
That's because she disagree with his manor on solutions, not the solutions itself.
She's listened to them for a lifetime 🤣
She has a cute laugh
Dave has entered his no fucks given season and I’m here for it!!!🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉🎉
"We stayed there longer than we should've, but we didn't get shot!". I can relate SOOOO much. I have just sold my house in a rough area, and looking for a new place. I intended to be here 4-5 years, ended up being 8-years. However in that time I have quadrupled my net worth through having a small mortgage and being able to pay off the PRINCIPAL rather than ONLY INTEREST. Now I can move on with a really good deposit (maybe up to 50%) on my next place.
She is the only one that interrupts Dave! Love Rachel and Dave together ❤
Sheeeeesh! I’m glad I wasn’t the only one who noticed!!!! Guess where she got it from tho! OG Dave!! 😂😂😂😂 fxcker always cuts off people and even mutes the call when someone stands on business and continues to talk meanwhile Dave tryna interrupt. You should see Dave’s face when it happens! He turns a little red lmao 😂 I love it! Hate assholes who cut me off in traffic and in a conversation…
Because it's her father duh!! U can't interrupt your boss
I love Dave Ramsey! He has a big heart! And doesn’t compromise on his advice! In this messed up world he is someone you can depend on!
No matter who’s in the White House, I still have to fix me. My new phrase from now on
Love how much Dave helps the widows! That’s why before I was a SAHM/homemaker, I worked with the elderly (widows/widowers) in home care, for years ❤ love them! And maybe go back PT someday.
I live in Europe and I’m addicted to this show!!!❤
New to the Ramsey Fam, looking forward to the future
Finally, the best duo
Daniel, forget big parties, that's crazy. A cake and ice cream and a gift is enough. All these big parties are for the birds, everybody tries to outdo everybody. Study frugality, and simple living. Save that money. Forget the jonses
Creativity goes a long way with kids' parties - have a scavenger hunt in the backyard, a cookout in a public park (so there's no mess at home!), or do something that volunteers to help others like taking kids to help the elderly play bingo at a nursing home. I bought a bingo set on Amazon (with points from my Amazon card) and ordered sugar-free cupcakes and sugar-free ice cream from Sam's (points from my Sam's card)) and picked up some balloons at the $ Tree (the only cost) and took my neighbor and the friends she wanted to invite for her birthday to a small local nursing home to play Bingo. She still remembers it as "one of my best parties ever."
The caller didn't say how old the kids were...if they are older than 12, and each invite 3 friends, that simple party of cake and ice cream is going to be almost $100, plus gifts. Can they do it for cheaper than $500? Yes, absolutely. But is it absolutely unreasonable? I don't think so, especially if past bday/Christmas gifts have been extravagant. It can be quite a shock for kids to go from large gifts to a package of socks for their birthday.
Katie and Kevin brought tears to my eyes. They are so right. Thank you so much for sharing. Thank goodness God put this on your heart to share. Peace and thankfulness beyond words.
I really enjoy listening 🎧 to Ramsey show.
Congratulations Reuben and Kurstin! Such an amazing journal and so inspirational!!! wow!
Dave is the uncle I never had
Finally got debt-free, with $2k saved in the bank…but it only lasted for two days. My car broke and my dog dislocated his hip and needed surgery. Now I’m $7k in the hole. Back to baby step 2….😢
Sigh. You’ll be back out of the hole soon enough.
sell the dog on craigslist
Oh man. That sucks. Glad you paid off your debt though and didn’t have this happen while still in debt. You would have been even in a deeper hole. One day soon stuff like this will be just a bump in the road when you can cash flow these emergencies. We kept saving and finally saved up for a mini emergency fund and then someone hit our van and it was basically totaled. The van where we just put 1k into and got a new stereo so the kids could watch dvds. The insurance paid out the minimum so we had to cash flow the rest to buy a newer van. Glad we had that emergency fund to dip into. Otherwise we would have made a very deep hole for ourselves. Good luck to you.
That's one of the reasons I think the $1,000 starter emergency fund is really too little with today's costs. But keep at it - you will eventually make it if you're persistent.
Same here! I paid off $100,000 within these past 5 years(Covid years) then October of last year I get into a bad accident. They totaled my work vehicle… I took a major hit.. also $7k in the hole. I guess on the bright side. $5k of that debt is credit cards which I’ve paid on time so once it’s paid I’ll still have a good relationship with those two banks which means I’ll have $5k available credit. The lesson learned is having an emergency fund is very important!!! So I’m also trying to save up additional $5k. That way I’ll have $5k of available credit and $5k available cash. Slowly increase the cash and credit but with only one credit card. And just keep it that way my credit history builds so when I’m ready to work on my portfolio, I’ll have the cash AND credit to buy my first home!
Debt free here, with significant money in the bank and investments. These kids running out of state and running up huge debts will regret their actions.
And so will the taxpayers who it looks like might be saddled with at least a good part of their bills! You borrow, YOU pay!
Let me hold $10k 😂
Hilarious watching Rachel laugh her head off at her Dad!
My family used cotton diapers. Much cheaper in the long run and less waste. You can also use cotton hand towels instead of paper towels to save money and reduce waste.
Having been at ups now for 18 years I understand this caller. But I will say UPS/Teamster pay and Benifits have been a phenomenal blessing for my family. Hopefully he can find the balance he’s looking for.
Actually one of the best companies to work for - 15 major US companies provide benefits also for part-time work, and UPS is one.
Daniel, take that intensity and direct it into a side hustle. Attack the income instead of the costs.
They are so good together! Great show!
New flash for Dave. Nursing home care is less than home care if your family member has Dementia approx 10K/month. My father died in his late 90s as a result of dementia and it was worth every cent that we paid the nusring home. Now if you are incredibly weathlly like Dave you can afford in house care whcih will be more expensive than nursing home care if you are very debilitated so then it might be worth it to stay in a home enviorns. One of my classmates prior to going to med school provided this care for Ray Croc founder of McDonalds. Hopefully we can all go out like Bing Crosby on a golf course or like Nelson Rockefeller with a nbooker
1:27:08 Use Pre-Tax money for daycare reimbursement. Your overall paycheck will be larger, deductable is 5000/year. DC FSA ask your employer. :)
Yes, I don't know WHY the RS "financial experts" never propose this solution - it's a great savings for expenses that are predictable. Saved us a lot of money when I was working.
Reuben and kursten were amazing!! I loved his speech about changing. Hit me deep man
18:57 Yes sir, I hear you! I will take it slow.
1:26:44 I'll start thinking about staying home and babysitting 1 other kid
We know Dave isn’t sponsored by Disney and Chucky Cheese lol
Favorite duo!
22:18 Yes, Granite Heads! Whoop whoop! ❤
Dave. I woild lice love for you to make a clip of Clayton's call. Im a 17 year UPS driver and you touch on many of the drivers concern's.
His call was a little frustrating in that he has no kids, makes relatively good money, and isn't working 80 hrs per week. He's working 55 hours which I understand isn't fun. I personally don't like working much more than 40, but again, he has no kids and he's younger. I wonder is his wife/girlfriend is getting on him, or if he just wants to go out and party more.
@@Ka_Gg I was thinking the exact same thing. His wife or girlfriend is getting on him for working so much.
@@jackslove958 and let's be real, working 50 or 55 hours when you don't have kids still give you plenty of time to do other things. Yes it is a lot of hours but it isn't like the time need to be split up by running kids around
@@jackslove958 And then when men don't work so much and bring home less money, the wives and girlfriends complain about not enough income. Women want it both ways now.
Exactly. If he becomes a 50k a year sucker she’ll probably put him out in the street. Rough math he’d be making 93k a year if he really worked 55hrs
At UPS your options are to load packages for part time income you can’t live on or full-time package driving / feeder driving but sacrifice your life by working crazy hours - no in between. And also not ALL UPS facilities operate the same, there’s different unions that do things differently so overall the Teamster’s union culture may very well be centered around work ethic and good quality life but your local union likely operates differently - speaking from experience with a boyfriend who has worked there for 4 years now
Let the boyfriend speak for himself.
When you getting married?
That mom who was going to pay 30k in daycare..
Just stay home and make 10-15k in a side hussle and make all your food at home
There are other considerations. If you give up your job, will you be able to get it back (or a similar one) if you drop out of the workforce to stay home? What is the impact on retirement? Can the family manage if one of the two loses his or her full-time job?
@Trustbutverify2651 well, another consideration is that if mom comes home, dad often gets promotion that more than makes up for it. If both spouses are focused on one career (if upward mobility is possible) and support of that one job, the promotions come more frequently. Stats back that up.
That for sure takes a lot of trust by the person who takes a backseat with their own career. Often, it's not a bad financial move, however.
@Trustbutverify2651 also, babies are only babies for a couple short years.. you have your whole life to work
For real!! Great idea.
@@melanieb2132 And this show often has cases where that one "high earning" spouse suddenly loses his or her job and panic sets in. What then? In this day and time with all the uncertainty, no one should be out of the workforce at least part-time unless he or she is comfortably retired or extremely wealthy. I'm not sure how one spouse can be focused on the career of another unless they work together. And what is the source for the "stats that back that up?"
100k minus 40k is still 60k. How can a single man not live a reason able life on that?
A little over $3k a month after taxes and debt service.
A single man, maybe.
A man with a fiancé, probably not.
Depends on where in the country he lives.
In most areas in the US, single guys can EASILY live on that. Some areas though it's damn near impossible.
❤ dave. Don’t love the insurance commercials he’s embedded
RUclips picks the commercials.
@@anthonyyoung6433 dave is pitching it’s not a you tube commercial silly
I wish people would do a simple search on the baby steps before they call in. It takes away time from interacting callers.
Hell yeah!!! I represent the 719 with Reuben and Kurstin.
1:22:16 the reason is, he doesn't trust that the child is his
The dude that wanted to cancel Christmas to be more gazelle intense. 😂😂😂😂😂
Yeah Dave
*The corruption that runs through this administration is getting scarier. I feel sympathy for people with disabilities not getting the help they deserve. Most fogies can't afford shelter anymore, Imagine investing $1,000 and receiving $4,300.*
Does anyone know if Dave is right about QDRO? I read where this is the one time you can pull it out without penalty.
Amen 🙏 ❤
UPS driver calling about the pay cut! Take the pay cut and get a better quality life. I had to learn the hard way working a lot of overtime now left with a bad knee
Perhaps Dave's opinion on daycare in other states or cities is correct, but where I live (CA) his advice doesn't hold water. We are plagued with limited daycare facilities in our area, are LUCKY to have a spot AND it's incredibly expensive. It's not for lack of looking- I pay $42K a year for daycare. Daycares in CA are mandated by state licensing laws to maintain certain ratios of children to childcare givers, and with the high minimum wage and real estate costs, it translates into a high cost of childcare for us. I couldn't afford to hire a full-time nanny because their rates start at $25/hr (which is more than I pay for daycare now). And Dave says screw netting $5K at the end of the year, but he doesn't acknowledge that it's a limited time period and I can't afford to lose the $2500K/month in healthcare coverage.
Christmas is of Pagan order...so save your money!!
They are romanticizing a pay cut. Then wife gets pregnant and they’ll need the higher paying job. I agree look for a career that pays the same for less hours.
Just wanted to confirm if possible, please. She stated they put the extra principal into their mortgage when they did the paperwork. Is she talking about, when they budgeted they added extra principle into the budget? Good idea and I love it but never thought about making that my payment so as Dave said "automating the discipline". If that's correct, I am definitely stealing that idea and using it
I had a term life for 20yrs expired this year. I am 60yrs. Now I bought. IU L . I am wondering if I do the right thing. . I am paying $300 . Month.
For the college student that went out of state for 80k tuition, I would pay half of what in state would have been, let the ex pay the other half. The entitled kid can pay the out of state tuition part. She's lucky to be getting anything.
I wish they would have given the mom in New York a SmartVestor Pro to help her through this situation. 💔
Dave , hello are you protected from fund mismanagement or Embezzlement of the 529 plan, like SIPC or any recourse to get back any stolen funds
Katie that got the inheritance: just pay for the school and let it go. You got a great inheritance. Forget stressing over if the ex can pay his half. Maybe if he gets a nice windfall but otherwise let it go snd dont rub it in.
He’s waiting for the baby to be born to make sure it’s his
I did take whole life insurance for my child and me(term+whole); reason: my health condition can be passed on very likely (t1d) and I don’t want my child to not have insurance because of that. I am single mom t1d and after being rejected 20 times, I took a whole life insurance + term insurance at $600/months 😢
I would rather take that money and invest in low cost index funds over the child’s life
The people who only want to work 40hrs a week their whole life are the ones calling later that are at retirement and barely have anything to show for it.
My job of 22 years and my current job refuses to let anyone get overtime, even if the guest/ customers services suffered. I’m still financially well off compared to my colleagues because I live within and sometimes under my means. I’m currently on track to retire 10 years early.
35:00
😂😂😂😂❤❤❤❤ dave!
Woah Rachel Cruz is his daughter😱😱
daycare providers makes less than minimum wage per hour as a provider I make 4.85 per hour
1:22:27
I love Dave's honesty. Step up buddy "shotgun wedding!"
❤
I know this may sound crazy, at Dave Ramseys location they should consider offering a daycare for their employees
Katie if your getting along with your former husband after the divorce then why did you get divorce? What happened to death due us part? I'm just asking......???
Someone tell Dave about defense contracting. 40 hours max, no OT and make a bag. Not "work like noone else".
Haha I feel the same about those kid places and all the disgusting germs 😂 🤢 imagine what elementary teachers go through 😱 lol.
S&p fund can some one explain it?
It's a fund that mirrors the S&P 500. Vanguard, fidelity and different 401k plans have them.
I am a former rep at Fidelity - call them and tell them you want to set up an account… they will walk you through linking your bank and setting up automatic investments (tell them you want the S&P mutual fund, ticker FXIAX). It’s very simple and insanely effective. I saw thousands of accounts there and the best ones just tracked the market with automatic investments.
Index funds mimic the s&p and are low cost, the vanguard ticker is VOO, google it, look at their “fact sheet” compare to other low cost etfs, like blackrock it’s easy to learn
Usually their cap weighted , so the biggest percentage would be the biggest companies like microsoft, Nvidia and alphabet but, it would be a slice of all 500 or so US publicly traded companies per share. You can also get a mutual fund with the entire US stock market. I don’t know it might be 3200 companies, can’t remember. This way you don’t have to worry about trying to beat the US market by picking individual stocks but you do get your share of the pie. Plus there’s less risk than individual stock picking, that’s the main plus.
I like Vanguard VTSAX, its all US publicly traded index fund, but it has i think a $3k entry, but you can also buy it in individual share price format (ETF) called VTI, this way you don’t have to start with 3k in, you can buy one share or however many you want at a time.
1:32:09 is the perfect example of how disconnected Dave is from the cost childcare
30k year for 2 kids is dirt cheap .
Also the fact that he actually believes he could get a nanny for that amount . Is insane
For just an okay nanny you’re talking minimum 45-50 k a year. And that’s someone with very little experience. Working full time.
A quality nanny forget it easily 60+ k a year . For just one child
Big win for the man receiving child support
Clayton the UPS driver is soft and his math doesn’t jive. If he’s making 75k at $30 and some change he’s averaging about 44hrs a week. So his $25hr job will get him 50k per year for 4 less hours a week? Wife, no kids, 240k in debt, and getting lazy. Needs to work on time management. I’m also married with no kids, I averaged 54hrs a week last year, and now I’m starting my own business in my spare time. Unplug the stupid tv and video games. Welcome to being an adult. I can’t wrap my head around these unmotivated people. They disgust me
Brianna - DO NOT get in the habit of taking care of your in-laws. Your MIL can get a job. Their decisions and poor financial planning are not your responsibility - and what you start is what people come to expect.
Bingo. I take care of my own bills. Period. Others need to get jobs or deal with the consequences.
How do we get out of a car loan ? I currently owe 16,560 on my car and Keely blue book says I only can get $8000 if it sold it private. So would I have to cover the rest or is there another way around it
They say to pay the difference with a loan from a credit union if you don't have the cash
@@MONI-bj1ms do you know how they approve you for the credit union loans ? Is it based off credit?
And also would I apply for a personal loans through credit union or car loan?
I think 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.
@@florawomack and what’s that method ?
John and Dave's shame and blame life insurance ad is tacky
I’m with you Dave if he won’t marry now ditch him
Geez he talks over everyone 😬
It’s his show. Some people need to shut up anyways. Like you!
@@Asalmon879 you sound stupid.
@@Asalmon879 no point in having a cohost if you talk over them.
Dave is great but he needs to let Rachel talk. There is no doubt in his passion and energy but try not to over talk your co-host.
He doesn't want to work for ups as a driver
Yikes 😳.. Did we just witness Dave have a mini stroke @ 1:52?!?!
I like Rachel might have caught it too. 😟
More around 1:54 ish
Maybe the boyfriend wants to wait for paternity test before marriage?
To much music and adds
Too much religious stuff for me, enjoy the show otherwise but adults that believe imaginary rubbish like that just can't be taken seriously
Way too much ads and music. I usually listen in the evening to de-stress.
That's why I fast forward through them. That, and all the co-host chitchat and blather.
The only personality that can interrupt Dave and him not even care is his daughter😂
I suppose she is a nice person, but should not be giving advice on Finance --- her or the other Woman. It's painful to listen to -
Good, no DELONY..!
He's the worst on the show. He Always gives bad advice and he always thinks that he knows the caller's story and they always prove him wrong.
Careful! Flash the corgi, his RS Mom, will attack you viciously for ANY remark remotely negative about Delony.
I think he’s been doing a great job in his role lately. He’s doing what he was hired to do.
@@willtacoma2ndgen661lol that’s sarcasm, he’s mostly always RIGHT. There is a reason he’s the most popular/ liked personality out of the Ramsey team. It’s because he’s the BEST!
@@Trustbutverify2651Not his “RS mom” way too young for that BUT I do love John and will always speak highly of him. He’s such an amazing man! ❤️🥹