I Paid Off My Home Now I’m Panicked
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- Опубликовано: 11 июн 2024
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300k saved, 150k invested, a paid off house, and some idiot telling her she is way behind. Most of us listening to this call aren’t in this good of shape lol
At age 55, by the numbers, she *is* behind where somebody at that age should be. However, she still has a job, it just isn't paying much right now. It should be a concern, but *not* a reason to panic. If she were to give up on working altogether, *then* her numbers would be an issue (although as others have pointed out, we don't know the value of her house, and downsizing and moving to a cheap state/neighborhood could possibly even get her by for the rest of her life; we just don't have that information). At any rate, her situation is 3.6 Roentgen: not great, but not terrible.
She can invest so much of that 300k! Once she gets her income back up and she takes a breath, she can more accurately decide how much to keep in emergency fund. Maybe 12 months. Not 300k.
Truth
Ehhh…. Shes doing okay. She should move the 300k into a portfolio. Easily double her returns and will gain appreciation as well
@@bigd4366No, she isn’t. Most 55 year olds don’t own their own home.
‘That guy’ is upset that he is out of $2,000 per year management fee.
And there it is ......
100%
exactly
Now she can pay those fees to a smartvestor pro instead
Bingo
Having a paid-for house and zero debt is liberating.
I saw a post where people were flexing their low interest rate mortgages. They have no idea how being mortgage free feels. I paid off my home 7 years ago and will never go back.
@@user-zy6gw5bn7g I will never borrow money again for anything. It's amazing how much money one can save/invest by being debt-free.
@@user-zy6gw5bn7g
YES. TOTALLY LIBERATING!!!
Most definitely TRUE 🎉
@user-zy6gw5bn7g I paid off my house 7 years ago, too. That was the last bit of debt I had. Writing the final mortgage-payment check felt fantastic.
Her financial 'adviser' missed out on him 'investing' the $225k she paid off her house with and making 'commission' on that 'investment'.
Run!
Bingo!
Financial advisors only make money when you make money. And it's generally 1-3% of your gains. If your advisor is making commissions from stock trades, find another one. That's not typical.
He's not wrong though. Seems like her house is worth at least 3x her/her husbands investments.
Right on about the financial advisor. That is the very financial type that says you must have $500k to $1.2M to retire, that they will manage, for a fee.
@@teekay_1 Or she could just watch financial advisor channels that would tell her to skip the financial advisor, and just invest in SP500 index funds herself.
I'm pretty sure doing all of that is not only cheaper, but faster than going to a financial advisor.
A quick google search would recommend investing in index funds anyways.
Dave: Ma’am what’s the problem?
Lady: I’m 55 and I paid my house off.
Dave: ok
Lady: I have $150k invested for retirement
Dave: oh
Lady: But I have $300k in cash.
Dave: Get off of my line.
Yeah she's in better shape than half of Americans her age. I'm jealous.
IKR🎉
She's doing pretty darn well
Yeah, everything looks good except that the retirement account could be a little larger. She has time still, depending on what kind of lifestyle she expects to live during retirement. having the home paid off is a big monthly bill that is now a non-issue so that helps.
Right? When she said he had a "small" insurance policy and she paid off $250K house with it, I'm thinking, that's not small!
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Consider reallocating from real estate to other reliable investments like stock, crypto or precious metals . Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice, but it may be wise to invest, as cash isn't ideal in this period.
@@EdmundEthan093 It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
@@roxdietren Finding financial advisors like claire robert's durand who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@@AlfredStephen127 Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
My husband passed away last year and that was one of the first things I did was pay off my house much to the dismay of the bank and my husband' CEO who wanted me to invest the money which didn't make sense to me nothing was going to pay as high a interest rate as the mortgage interest rate was. I am loving having no bills, everything including my car is paid off which is exactly what my husband wanted me to do. Anna In Ohio
In order to break even with the returns on investments vs paying interest on the mortgage, one has to get an even higher return from the investments due to taxes.
Paying off the house is a guarantee savings. Investing doesn't guarantee and has downside risk. One should choose what to do based on risk tolerance.
I am within 6months of paying off my mortgage but I keep forgetting that I will still have the expense of property taxes and insurance, forever afterward.
@@jason60chev Property tax yes. Insurance no. You don't have to have insurance, but you want to keep it just in case.
Great job Anna! Sorry for your loss.
Wish you the best of life and condolences to you and your family. That makes two of us with the same mindset. I did likewise when my wife passed 7 years. Now working full and time part jobs just to stay busy.
This lady isn't "okay" she's very well off! Good for her
300k , invest 200 of that.
100k is a very large nest egg.
Put the 200 k into cds bonds or dividend stocks.
Let your money work for you.😊😊😊😊
Just make sure you don’t get an online boyfriend who’s an engineer on an oil rig and needs to buy a $2million part, Christine!😂
This is not a joke.
I need a part that can only be purchased with Apple gift cards
Those scam fish episodes are good though 🤣
😂😂
@TheR3alRyan but you'll be his queen!
When a loved one passes and the survivor is panicked and in an emotional state, there are a lot of poor decisions they could make with the life insurance proceeds. Paying of the mortgage early is not one of them.
It isn't the worst thing she could've done, but depending on the interest rate I think it could've been a poor decision.
❤
@@cooleobrad Couldn't agree more. I suspect her husband had a 2-3% mortgage. If she paid off her mortgage the president of the bank should have sent her on a cruise to thank her.
Remove the stress and you'll think more clearly.
450k in savings with your house paid off and you still panic? I'm thinking of retiring next Spring when I hit 59. I've got approx $500K in investment accounts (403B, Traditional IRA, Roth IRA). My part-time job in SC annually is about $50K. I've got rental property that adds about $40K to that income on my 1040. I have no debt. do you have any reason to panic ? Absolutely not!!!!!!!!!!!!!!!!
Today’s show really made me lol......i mean, she’s panicking about ? That she’s debt free? lol
i hope not 😂
I’m thinking about retiring in the next 5years, any advise i can get from you?
i will strongly recommend you get a financial planner. There are true professionals at the top of their game; I had the pleasure of dealing with one, and it turned out to be really helpful as she assisted. Becky Lou Gordon, a well-known professional in her field.
i just looked her up on the internet and looked into her credentials. I wrote her a letter outlining my financial objectives and planned a call with her.
Thank you for the info
Jade: No one should be making you feel stupid.
Dave: 😬😬😬
Lol i was just about to type this
😂😂😂
lol I wrote the same comment. He does this every other call
😂😂. Right.
This is either a subtle dig at Dave or a complete lack of awareness on her part.
Regarding the caller saying "after talking to this advisor".
NEVER take advice from someone who is directing you to do what is best for them and their commission instead of what's best for you!!!
Certified financial planners are legally required to act in the best interest of their clients. Not sure if that is the type of advisor she went to, but Dave's smartvestor pro's have no such requirement.
@@cooleobradbut “best interest of the client” is incredibly open ended. There’s no way to prove if the advisor intentionally screwed their client or just made a poor investment choice that ended up tanking.
@@ghfan2011 It really isn't open-ended though, you can look into the specifics. Still, would you rather work with an advisor where you have at least some legal recourse should they lie or give you bad advice, or would you rather work with someone who has no such legal obligation?
@@cooleobrad I’d rather not have an advisor at all and just use index funds because I don’t trust that that “best interest” law could be enforced. If they give bad advice, they can easily come up with an explanation for why they thought it was in my best interest.
@@ghfan2011 I also don't use an advisor, but if I needed one I'd certainly go with a licensed CFP over a smartvestor pro
Wow can’t believe they didn’t ask what her house cost. $450k cash + paid off house!? She could be a millionaire
She is a debt FREE, with over 400k.
She has 300K in cash and about to be struggling for awhile because the real estate market is in the tank. Unless she gets another job soon I would be worried that she is going to struggle down the road.
@@Yogastrong908she has a paid off house already, and she's single no need to financially support anyone(other than her pets), her monthly living cost is very low, don't see where the panic is
Perhaps 250,000 in Vanguard ballanced index fund 60 % stocks 40 % bonds. or Vanguard Life strategy moderate growth fund. . Both Low management free and no commision. Set it up to draw 3 % or 3.5 % a year to pay utilities ,car and house insurance. Etc. Nice to see fund grow and at same time regular bills paid. Dont know if smart investor pro with Dave would encourage no load index funds. I do this myself and not needed a job since 58. Have peace , paid off house, no debts, and enjoyed Dave's program on the radio and later you tube over the years. 66 allmost 67 and may start .SS or IRA draws in a year or two to help pay Medicare and Medicare supplement. The remaining 50,000 into a CD as an emergency fund to supplement starter emergency fund. My starter is 5000 rather than 1000. Need tires one of theses days and if a cruise deal or vacation opportunity comes along have a little slush in starter emergency fund. Needed new lawn mower i thought .450 bucks. But friend fixed it for under 30 dollars.. Bought him dinner too. Net worth 1.6 so always had to live frugal. House in small town not worth a lot but doubled in value since i bought it . Had 15 year mortgage but paid it off in 3 years. Interest rate was 2.75 but thought it cool to apply overtime to mortgage and tear off sheets and sheets of the credit union loan papers as i quickly paid down the principal and paid off the house. I waa investing ar the same time too. Seems to worked out ok..Never lived in an area that had a smart investor pro so did rhe best i could.
.
😂😂@@Yogastrong908
You are in an amazing position. You are a realtor and have no debt. Every realtor I know has debt up to their eye balls. Yeah, fire your finance guy.
I've never seen someone do so many things accidentally right. I'm so happy for her
Paying off your mortgage is such a blessing! So many people are struggling to pay their rent right now with how inflation is and those in a house. She is so okay!
It is beyond a blessing. You never know just how much of burden debt is until you don't have it anymore.
You have a nice smile.
I paid off my mortgage. I now pack the money away that I normally would pay toward my mortgage. So that I will have a pile of money when the bubble bursts. I am going to swoop in and buy these stupid, mortgaged suckers home for pennies on the dollar!!
@@betsyogle8224Dave says no bubble.
@@betsyogle8224 you seem nice
This is the exact reason why I am so grateful Dave suggests someone with the heart of a teacher! The only path I take now!
Lady is a millionaire and thinks she's "in trouble". Gotta love America.
Admittedly, worrying about your finances is how people become millionaires in the first place. Panic, on the other hand, causes you to make bad decisions in haste.
She is not a millionaire.
If most of that is in her house, then that doesn't feel like a million dollars. Also, a million dollars (while better than nothing) isn't what it used to be.
@jimmymcgill6778 it depends on how much her house is worth. She definitely could be.
she's wanting attention. I don't believe a word that comes out of her mouth
paying off your mortgage = freedom!
Not always. It depends on the individual's overall financial situation.
Not if you have catching up to do in your retirement accounts and missed out on years of compound growth
❤❤❤
@@30-Year_AccountantHow does freeing up your mortgage payment not equal freedom!
$214/month
????
The financial guy was trying to scare her and scam her into buying his services.
sounds like he was new. I'm sure Dave's first and second advice was bad too. But hey call another one and they will try throw the other one under the bus and sell you their service. Slimy SmartVesterPro tactics, that are just going to do a similar investment anyway.
It's amazing what you do *DaleValskov* We need a lot of people with your skills and set who have good intentions and spread love
It could be because that guy is a math nerd or because he was upset that he couldn’t rollover that life insurance money to make a commission off it. And now he’s projecting his frustration onto a widow… smh
Kaching! So right - most of those financial advisors are selling something
Paid off house, 300K in liquid cash, and 150 invested..Darling your doing better than 90-95% of all america, including this idiot financial advisor!! RELAX take a breath your what Dave calls an everyday millionaire!!ENJOY
This is a great video I really appreciate the dedication in each video you post, I learn a lot watching your videos and it has always been helpful to me. Building a steady income is quite difficult for newbies.. Thanks to *DaleValskov* for improving my portfolio. keep up with the good videos.
That finance guy definitely was full of beans for his commission. Snake.
That financial guy wishe he was In her position with a paid off house, 300k in the bank. His comment was out of strate jealousy.
I’m actually surprised he didn’t try to sell her an annuity.
Not really. The comments here seem to be emotion based focusing on attacking the financial advisor as opposed to looking at her entire financial situation. Yes, his delivery of her actions may have been off putting according to her, but his observations were spot on. She mentioned her interest rate was low so she could have paid off a portion of the house and invested the remainder in a roth IRA and brokerage account, or downsized by selling the house and purchasing a smaller home or condo for cash and invest the remainder as indicated above. Some people interpret any advise as an attack. Focus on the goal and be objective.
Depends if she was locked in at 2.75. Thats 2.5% margin cause they paying 5.25 right now if her house was 300k thats 7500$ a year in profit a year she us losing and thats just if she left it in the bank
@30-Year_Accountant at her age, you shouldn't have a mortgage. Even The Money Guys would absolutely have her pay off the home. As for downsizing this could be possible depending on the size of her home. But because she's 55, her home should be paid off no matter what being that close to retirement. That's just overall sound advice.
That guy's an idiot. She's in a great spot and she was smart to pay off her home. With all the uncertainties of her being alone and one income she paid her last debt and made sure she's OK.
Great call! And great advice! Anytime someone makes you feel "less than or stupid" you are dealing with the wrong person. Relational or business oriented. So glad she called Dave. She is an intelligent person who in her gut knew this was bad advice but wasn't sure how to act on it.
We have been on a recession since the beginning of 2022, but big media and governments all over the world didn’t want to admit it. We need to be wise and use our brains. Knowledge is power and I’d like all the family to be powerful! Just purchased some *DaleValskov* Thanks for keeping us informed during this times of doubt?
Unfortunately Dale was arrested with more than 50 people involved in a call-center scheme that lured victims into thinking their assets were being frozen as part of an elaborate drug investigation. The victims were convinced they had to transfer money to the scammers or risk going to jail.
I started with around $86,000 on my mortgage in January and am now down to $49,900. I'm expecting to pay it off by April of next year. 30yr mortgage paid in 18. I can finally see light at the end of the tunnel. We will be completely debt free.
Fabulous nice one
I was in the same situation about 2 years ago. It's an awesome feeling. And when that money that you used to use for the mortgage starts piling up, your head will spin. Great job!
Where do you live that you got a mortgage for only $86,000?
@@BREEZYM6015 that is what my balance was starting January 2024. The original loan was $365,000
You’re literally losing thousands of dollars by not investing
Paying off your house is the absolute safest move you can make. The finance dweeb was probably trying to scare a widow into buying snake oil financial products, knowing she had a significant net worth and didnt know what to do with it. Having 300k in cash and 100k+ in a Roth with a paid off home at 55 is better than most people that age. Most people have nothing. She has a net worth in excess of a half million dollars.
I got out of debt and I’m freaking out now that I’m no longer in debt!
What a beautiful problem lol
I’ve actually met people like that. I think that’s part of the reason some people never get out of debt or get right back in after being debt free.
😂
debt withdrawal
😂
I’m proud of this woman. She did the best thing. A paid off house is a solid pillar to lean on. You can work part time somewhere for few hours and be able to buy food and pay utilities.
That guy didn’t consider her risk tolerance and goals.
Be cautious with Dave's "Smartvestor pros." I dealt with two of them and they were nothing more than salesman. Does Dave ever tell us how he determines that they "have the heart of a teacher?" He can't know them all personally. Does his staff do extensive research to determine this? I get the feeling that they apply to be a "Smartvestor" and he determines that they are good guys by the way they answer a questionnaire. They answer it the way they know Dave wants them to answer it and then they pay to be on his Smartvestor list, where they get clients. There's nothing wrong with them paying to be on the list , as long as Dave is judging them accurately. But he's never told us how he makes the determination.
It’s probably a survey they can lie on. But that speaks more about them than Dave.
It’s wise to vet anyone, even someone highly recommended.
I’d also report those advisors for not following FPU.
Same with a used car place he endorsed here in Overland Park KS. The first thing they wanted to sell my Mom was an extended warranty on her vehicle purchase.
@@BlueDauntlessDave probably knows the kind of people these are, otherwise he would only recommend fee only fiduciares
As a person and professional you couldn't get any better than *DaleValskov* he is a very reliable person and an excellent professional in the IT field. He is the type of person you want to work that's passionate, hardworking and knowledgeable. You’re The Best 100%
Dale was recently arrested for fraud.
Smart vestor pro was the worst person/ripoff I've ever seen. Beware!
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you *DaleValskov*
Dale (not his real name) unfortunately was arrested by the police in New Delhi as part of a a call-center scheme that lured victims into thinking their assets were being frozen as part of an elaborate drug investigation. The victims were convinced they had to transfer money to the scammers or risk going to jail.
She could also apply for widow Soc Sec benefits at 60 if her late husband paid in before he passed.
I have a lady friend. I asked her does she get SS? She said I get my late husbands because it was more. I said nice
@PInk77W1 Your friend had to reach retirement age in order to receive her hubby's Soc Sec. Or her hubby already applied for his retirement benefits. I was referring to widows benefits specifically because the caller is in her 50's. She can apply at age 60 for widows instead of waiting until 65+ for retirement benefits.
@@elizabethwolfgang4017 I have no clue. Yes I’m 63 and she is 63 also
📌 TA is all well and good but I find it truly baffling that all major stocks you tubers just look at pure TA and completely Ignore the bigger narrative of why stock Is pumping and why the future outlook might not be as rosy as it seems. Alot has changed and that's about it, but the truth is that I don't even care much about the bull or bear market anymore because *DaleValskov* covered me while I'm doing comfortable. 2.3 BTC per month
Stop spamming
Heart of a teacher...reminds me of several teachers I had over the years that were scumbags.
Most of us wish we were in her situation. 55 isn't old
There's also the fact that this financial advisor probably wants her to invest money into his funds to make a fat fee off it, too.
I had a similar conversation with a supposed "financial advisor" years ago when he tried to tell me that I should never pay off my mortgage. I realized I knew more than he did because of listening to Dave and staff.
Since then I have amassed almost half a million in investments and savings. Mortgage will be paid off in 2 more years. The feeling and confidence of being debt free is indescribable!! Thanks Dave!!
A lot of financial people try to get you into a heavy fee commission products it happened to me.
“No one should be making you feel stupid”
Have you heard your boss talking to people on this show?! 😂
As long as you have a roof on top of your head, food on your table, decent clothing, and no debt, don't panic. People think too far into their future they don't even know if they will still be alive the next day.
I wish I had this problem.
You and the other 99% of the world's population.
Can't deny the fact that *DaleValskov* is the strongest bet to bring power back to this industry after we suffered FTX, Celsius, Tera and so on. Sure if they fail it's done for good, but I don't see that the biggest tech company in the world would put everything at risk just for that.
Why are you spamming this channel?
No seriously, Dale is currently under arrest for losing his client's money.
Jade: "No one should be making you feel stupid."
Dave: Remembering all the people he's made feel stupid on his show.
No. Dave tries to wake up people from Doing really bad stuff like having
$100k in cc balance
She's in a better position than most. Just needs to start learning more to gain confidence and learn to invest on her own!
I love Dave but the rest of my mortgage is at 2.25 fixed and the govt cannot afford to stop printing money. My last mortgage payment will have the purchasing power equivalent of a loaded pizza. The grass under my feet feels just fine! Keep up the good work.
If my house was paid off my total monthly expenses would be $2000. To could live off of that for 12 years.
I will take a 3 year break.
Knows nothing about finances but wants to sell me a house? Nope. Financial guy told her what was WHAT.
Sounds like me. I have something saved but what much more. Smiling!
It took me a while in my life to realize I'll never be good at everything, but I am extremely good at a few things. If a person degrades others for not knowing as much as they do about one niche topic, that person will never earn my respect.
From $17K to $145K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
I agree just reached my goal of $500k monthly trade earnings. Setting realistic goals is an essential part of trading
....
some times last week i tried trading all alon but ended up loosing $3k
How can someone know a professional broker when legit once are hard to find this days
celia dullpher. understanding of market indicators is impressive. She knows exactly when to enter and exit trades for maximum profit. her siignals are top notch
She's recognized as 'Mrs celia dullpher. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
When the business picks back up, take what you Would be putting to a mortgage, and put it into your retirement instead.
When she said "no one should make you feel stupid" Dave gave her that look of "Did you just say that on my show?"😮
I was thinking the same thing that's like Dave's shtick haha he kept it cool though 😂
I'm tired of these people panicking and they have a paid off house and no bills and 300k in savings , you are better off than 99% of the country! Get someone that is 57 still owes on their house and less than 60k in retirement saved up!!!
It's because they hear people saying it is smarter to continue having low interest debts. I would say there are definitely times when low interest debt can be helpful depending on the long term goals but I personally think 0 debt helps too - especially when it comes to peace of mind.
Sometimes people just need to be told they're ok. People can be called dumb, stupid, behind... so even if they're in an ok position, they sometimes question themselves.
That financial advisor is wrong, plain and simple. She has close to a half million in cash/investments, owns a house without a mortgage, and has no dependents. The house is almost certainly worth more now than when she bought it. As long as she does not do anything dumb (invest in something risky, take out another mortgage on the house), she should be fine.
It's definitely alarming to hear about a default cycle, especially in the context of the housing market. Defaults can lead to foreclosures, and that has a cascading effect on the overall real estate landscape.
While it's concerning, it's important to look at the broader economic context. A default cycle doesn't necessarily mean the housing market is completely finished; it might signal challenges, but markets are dynamic, and they can recover.
But if more people are defaulting on their mortgages, doesn't that mean home values could plummet?
Yes, that's a possibility. An increase in foreclosures can lead to an oversupply of homes in the market, putting downward pressure on prices. It's the basic principle of supply and demand.
How can people address concerns about their property values?❤❤❤
Now might be an ideal moment to reevaluate your financial status. If you're worried about your home's value, consulting a real estate professional or financial advisor could be beneficial.
Monday morning meeting at Ramsey Inc.:
OK, our "SmartVestors" are feeling neglected. We need to throw them a bone.
Earl: I can talk about the truck I bought for $115,000.
What's that got to do with our SmartVestors? Next.
Christine: How about a new widow who paid off her house and she went to a random financial advisor who said she made a mistake.
Good, good. Let's go with that. Christine, you're up.....
Dave: "You need to fire that financial advisor who does not pay me an advertising fee and hire one of our "SmartVestor Pros". Heart of a teacher, blah, blah, blah...
.
The woman had the greatest loss of her life. It is very difficult making decisions while grieving. My prayers are with this woman.
I paid my bills and debt for the month and have no money left and work a second job to live and NOW I AM PANICKED!!! 😂😂😂
How wonderful that you were both so supportive of this woman. Many of us listen to “the guy” and think we aren’t as smart as we really are. Agree - fire the guy and move on to someone supportive.
It really doesn't matter how much money someone has, if they do not understand the big picture, they will feel out of control. She just needs to learn about what she has to start feeling confident.
It’s really getting hard to sell homes with 7% interest.
My first house that I bought was 9% interest and you're crying over 7%. I just refinanced my house a few years ago I don't know how long I don't quite remember I also refinance my present house a few years ago don't know how long really p
I refinanced house a couple years ago and I got 3.9% interest. And I try to always sound an extra towards principal about $70 $100 a month.
@@davideades160 whos crying? I have a 2.75% 15yr mortgage. I was just saying things will slow down when we were enjoying a really low interest rate and suddenly spike like we have now. Of course the real estate is affected. Im not an agent why would i cry? Idiot.
I'm 45, and I got nothing! The Canadian government makes sure of that! Most of us can't save anything up here. The cost if living alone has been hell, nevermind savings!
“No one should be making you feel stupid”. Dave calls people stupid all the time…
So the guy said, "You're so far behind at 55." With the house paid off, even if you're behind you'll catch up faster than he or you can envision.
Even with a paid off house. She cannot get time back.
She can just sit there and work at her leisure. Her house is paid for.
“I’m loaded but talked to someone who told me I’m broke”
Having a paid off home is the best feeling ever. I may be sitting in the dark, drawing water from a creek one day but I’ll do it from my own house!
Dave's expression at 1:10. Priceless.
It sounds like she paid off a low interest/Covid time mortgage which is what the financial advisor was against
I paid my house off in March, my stress load is lighter! I definitely do not regret it.
"No one should be making you feel stupid" - Jade. Doesnt Dave do this to every other caller lol?
The numbers say you should invest the money and earn more back than the house will appreciate. The numbers don't take risk and security into consideration. My wife and I both have life insurance and I've made it very clear that if something happens to me, pay off the house first. I NEVER want my wife sitting around wondering/crying unsure if she'll have a roof over her head. This woman did the right thing. She doesn't have to worry about losing the house because the market slowed down or she got sick and she can't make the mortgage payment. She no longer has a mortgage payment so that money can now be put to work to build wealth and if that all goes wrong, so what. The roof over her head is secure.
I really appreciate the dedication in each video you post. Despite the dip in crypto, I still thank you for the level-headed financial advice. I started crypto investment with $4,345 and since following you for few weeks now, I’ve gotten $18,539 in my portfolio. Thanks so much *DaleValskov*
1:25 'No one should be making you feel stupid'. Sitting next to the guy that calls everyone an idiot if you don't do it HIS way. LOL...
My house is paid off, I could live off a low income job. I have no bills, what are people spending their money on?
🎯
O.F. and (.)(.) Bars
“No one should make you feel stupid” lol that like half of Dave’s whole schtick. And half the time he is giving sub-optimal “advice.”
Last 3 years averages 8%. If she would've put 500k in a brokerage. She would have been up 120k.
Minus mortgage monthly payments and minus interest on mortgage plus weight of debt on your shoulders
@@pauljansen6650 Maybe like 5or 6k a year in interest.
@@pauljansen6650 So 100k.
In past videos, Dave says he takes care of widows and offers to connect them with free coaching, etc. I was expecting to hear that in this call.
*Hallelujah!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻🙌🏻🙌🏻🙌🏻was owning a loan of $47,000 to the bank for my son's brain surgery (David), Now I'm no longer in debt after I invested $12,000 and got my payout of m $270,500 every months,God bless Christy Fiore 🇺🇸🇺🇸🇺🇸..*
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 God
Thanks to my co-worker (Carson ) who suggested Ms Christy Fiore
She's a licensed broker here in the states🇺🇸 and finance advisor.
After I raised up to 525k trading with her I bought a new House and a car here in the states🇺🇸🇺🇸 also paid for my son's surgery….Glory to God, shalom.
Can I also do it??? My life is facing lots of challenges lately
That guy wishes she still had the cash so he could invest it and charge 1% annually.
What's not addressed on this call (unless I missed it) was, What was her mortgage rate? Nobody should attempt judging her without knowing what her rate was and how the markets were doing at the time. It's possible her "advisor" knew something we don't. Regardless, she's not "behind". Being behind is a relative term. She's way ahead of most!
To be fair, some people “feel stupid” when faced with the truth. Often not the fault of the messenger.
Emotion is the worst enemy of sound financial decisions. If your financial advisor makes you emotional he's failing.
Of Dave, the caller, and the unseen "financial guy" I'd bet decent money at even odds that the finance guy has the highest IQ of the group. Yet he's not on the line so they team up and call him an idiot.
I mean I get it… if the mortgage is below 3.5 percent I rather invest in index found then pay off a debt that accrues less interest than inflation
I don’t understand why ppl say a million is not enough. Forget the interest. Even if you withdraw the principal every month for twenty years, that equates to 50,000 per year for twenty years. So, a 65 year old can easily make it to 85. This is not even counting social security. Most ppl don’t make past 85 anyway.
Nice life problem! Love it for her
Anxiety does wreak havoc on your confidence, couple that with lack of sleep and you just get lost in the fog.
I would say to this lady; get your sleep, get your exercise, (so good for the mental as well), plan a budget and keep to it, go bargain-hunting and practice self-care. In other words, be good to yourself and the rest will follow.
Oh, and the housing market will pick up too, it always does.
Ramsey is smart and hilarious when he called the financial sales guy an idiot😂
she’s panicking because she’s never worked a day in her life. She has no life skills and no chance at making any money herself.
I see where the financial advisor is coming from, taking money from high yield to pay off really cheap debt is not mathematically dumb, it's just philosophically dumb if you subscribe to a different philosophy (which I do, I love being debt free, but I don't need to pretend the math does not exist to be happy with the philosophy I chose)
She has $300k in HY savings on top of the $225k she paid the mortgage balance with.
Sorry for your loss, Christine. Congratulations to you for paying off her house! Fire that investment guy. Find someone who knows what they are doing and that you feel more comfortable with. My life mantra is budget, save, and invest. And make sure you put a "fun" line item in your budget. Once you get the hang of managing this on your own you will sleep like a baby.
A paid off house is great!!!