Within 2 seconds, I was able to pull up several pages of homes for sale in Miami for 500k. So many of them...NOT. SHACKS. C'mon. She may be used to living in a mansion or whatever, but she's single now, and I'm guessing the "kids" have moved out. There is no reason for a million dollar home. Insanity.
What I would do: The kids are adults. Downsize! Buy a 400k house no matter the size. Buy a used truck in very very good condition. Save 100k. Put 200k into an investment account for my kids. Invest the remaining 500k. With 120k annual income, and no debt, I would invest 70k of my income for 5 years, then retire... Withdraw 4% from per annul from my investment and be good for the rest of life.
@@MiguelLopez-mh5ih you could be right. Good catch. Either way, she could still invest 50% of her net income if she has no debt. He income is double what a lot of people make.
OneAboveAll 1% return/mo would be difficult to get in rent if she bought all real estate with 1.2M and rented it all she would likely end up with 60k/year income minus the expenses to maintain the properties and management fees which she would likely use. Though the properties will like appreciate in value, but you can’t count that as income
These situations remind me of watching Fixer Upper: Steve: I am a store manager at CVS Brenda: I am a pet groomer Steve and Brenda: Our budget is 1.3 Million
Chip & Joanne: Well we have this run down house for 300K, we'll renovate it for $1M in OUR pockets. But along the way we'll find some things we should have seen at the start but hey, tough, we'll make you pay for that too, remember that contract you signed to get on TV? You niw owe us $1.4M plus hey, you want the furniture too y'all?
Why would Dave suggest a 1 million dollar home? I would move to Texas or Georgia and buy a 400k mansion. Pocket the remaining 800K and continue to build wealth, with a 120K income. This lady could be worth 3 million plus by 65.
Because she can afford it, and likely wants to stay in the region with kids or family. Notice they didn't talk about OTHER split assets, which might be many more millions ... conversation was only about the HOUSE $.
@@danger450 Yeah I agree that was her huge lump sum. And not having a payment on a million dollar home in Miami? The value of the house will probably double by the time she retires if not more.
Bryan Jacobs You’re an idiot. When my parents divorced it was for the best. It’s better for the kids to see both mom & dad happy with other people instead of being miserable together. The husband left the family in good standing with finances & she even said they ended on good terms & put the kids 1st. It sounds like the best divorce story I’ve ever heard! Just because people get divorced doesn’t mean they ruined the family.
5 лет назад+21
I would take the opportunity and retire, buy a 350k home, invest in an index and Max my Roth IRA.
Mr. Schniggle-Biggs oh we’re retiring early. Alright with 1.2 mill I’d say half would go in to an index fund with the highest dividends and the rest goes into down deposits for multiple rentals
A single person with 120k salary cannot afford to maintain a 1mm house. She can live very comfortably for a lot less in Miami . The rest should be part of retirement fund.
@@TBLBill well, 120k is gross, not take home. She will have to pay property taxes and put some away for repairs which homes will always need. So. 15k-20k per year is not out of the question. She would be all in on a house and have no cash? She leased a Honda . She needs to save for future healthcare expenses because she is single. She simply does not have a 1mm house income. Also, she doesn't need it, her kids are adults. Otherwise, she will end up broke and probably past the mid point of her career due to age.
@@anastasiabeaverhaus9 she definitely doesn't need it, but I think without the house payment it would be possible. Even if she paid 15-20k per year, that could still essentially be less than 1/4 of her net pay going toward housing, even though it'd be taxes and everything but not the house payment
And how do you know she contributed even $100 out of $120,000 toward the house? I certainly don’t know that. I know many women who have jobs and contribute very little to the household. It’s like their spending money. All I know is that she has made some poor decisions already, and she might very well end up making a poor house decision in the end
Why do people spend money the moment they get it? I'd either save it into the bank or invest on businesses or stocks and keep living below my means. Our spending culture is ridiculous. All spending no saving
The property taxes will be significant on a million dollar house in South Florida. At least $12,000. Plus house insurance on a much bigger house (especially older art deco homes) would be expensive. She could move a bit more north to Palm beach county and get a great house for half the price.
Give it to me, duh! You don't want to have to mess with all the hassle from dealing with that much money. I'll do you a favor and take if off your hands because I am a nice guy. You don't even have to thank me.
Olya yep. Buy a million dollar house and slog in out for 20 years until you're 70. Only THEN can you live like no-one else.... With your walker & lumbago.
@@DiscoFang Yeah. As others have said, she can buy a 500k house, invest the remaining 700k, plus invest 25% of her 120k salary and have millions in less than 10 years.
He gives advice to people who are Financial morons. And he says anybody that disagrees with him is dumb and stupid. Such knuckle-dragging mentality. This was particularly terrible advice. She could rent for several years on her salary. Take the 1 million invest now wisely and 7 to 10 years double her money. Then double it again by the time she's 70. Davis so anti any kind of debt but he'd rather her spend the whole million in a house which does nothing to generate money for her. It's a million dollars of dead money. So stupid.
1.2 million. I would Buy a house for 500k or less move to a different state pay it cash invest 400k 200k stocks 50k gold 100k in my business 50k in high risk investments like crypto MJ stocks etc 300k Save for a rainy day either put 200k in a savings account or in a safe dividend paying stock Hold 100k cash probably buy a nice car live a little.
Assuming Dave's proclaimed investment return of 12%, if she were to invest the $1,000,000 in a mutual fund (and didn't make any additional contributions after that!), she would have nearly $11 million by the time she's 70. But if she follows his advice here and instead uses it to pay cash for a house, she would need to save over $100,000 per year until she's 70 in order to have the same amount of wealth. This is obviously impossible. If she can get a mortgage with a relatively low interest rate, it would be throwing away a TON of money not to do this in order to be able to immediately invest that lump sum. If she followed his advice and saved only 15% of her income, she would only have about $2.3 million (even if she gets annual 5% raises). It's best to do the math before giving advice like this. Also, Dave didn't ask how much she has saved for retirement. If she doesn't have much (or anything) saved, buying a $1 million house cash rather than investing the money will just about guarantee running out of money in retirement.
@Anne Day Well I'm not sure she needs a $1 million house either :P We don't know if she'll have more than enough to retire on unless we know how much she plans to spend in retirement. According to probability analysis (a method that runs 1,000 simulations of various market outcomes), she would need to limit her annual spending to $110,000 in retirement or else she would have a good chance of outliving her money. Of course, that sounds like a large amount to most people, but probably not to someone who is used to living in a $2 million home. If she wants to spend more, following Dave's advice here would not be a good idea. The main problem is that we can't assume anything about her retirement assets. We simply don't know if there were any to split with her ex husband (it's unfortunately true that a lot of high income earners are terrible savers and don't necessarily have the assets we would expect them to). The fact that she asked if she should put the sale proceeds into a CD makes me wonder if she has any investments at all (if she did, wouldn't she realize it would be better to invest the money in something like mutual funds?).Dave should have at least asked how much she had saved already before giving any advice. If she doesn't have a lot saved for retirement, following the above advice would mean a huge amount of risk. Ultimately, this is the danger of getting general financial advice. Someone on the radio can't possible know all the relevant details of a situation. Financial advice needs to be personalized and based on intimate knowledge of an individuals overall financial picture. If she invests the money and gets a mortgage instead, she gets both the house and a secure retirement. She wouldn't even need to invest any more at that point and she still most likely would be fine! That may go against Dave's one-size-fits-all advice to never use debt if it can be avoided, but dogmatically following universal principles in individual situations can be dangerous.
I saw beautiful and newer homes in Miami on Trulia for $500,000 or less. I think the smartest thing for her to do is be comfortable in a gorgeous $500k house I have seen in Miami. And have $700,000 left over and saved up plus she's making $120k a year. She can buy stocks, put into a CD, save and invest. I disagree with Dave about buying a 1 million dollar house!
Robert Spencer yes. Talk about a warning sign. And she never was involved in the finances for the whole marriage. If you live in a paid for $2.4M house and don’t know how y’all got into it...
She says she's been smart with money her whole life... Dave: Do you have any debt? Caller: No I'm just leasing a car. Dave: you have Debt Pay off the car today!
Some people really dont get the no payments thing. Yes it's a lease and you need a car. It's a payment. Its money going out. Doesnt even matter if it's a dollar going out. It's still leaving and not coming in.
That pays for the house, but what about the property tax on a 1 million house, that's gotta be a chunk of change. Or maybe she can afford that apparently, a 2 million home is around $25,000 per year so a 1 million would be less.
Why would a single 50yo want to live in a $1m house? I think there's factors to Dave's reasoning here that he didn't verbalize as this wasn't very useful for the real estate tax layman.
A certificate of deposit (CD) is a time deposit, a financial product commonly sold by banks, thrift institutions, and credit unions. CDs are similar to savings accounts in that they are insured "money in the bank" and thus virtually risk free.
I thought she called to flex, but it was funny when she seized up when Dave asked her if she could live in a one million dollar house she started to sputter. Tells you a lot about people’s lifestyle. She could easily buy a $500K - $600K in cash and keep the rest in investments and savings, etc.
Honest in her shoes I would rent and invest the cash into a wide variety of stocks, bonds and cash investments. If $1M is “what it takes” to own a house in Miami, forget it. Find a nice $2500/mo rental close to work or kids or what have you. Spend the next 9.5 years from 50 to 59.5 getting as much money into 401k/Roth Ira / HSA / backdoor Roth IRA/mega backdoor Roth / catch up contributions as you possibly can. Try to invest over half of that $120k salary for the next 10 years that way. That 1.2M using 4% rule will spit out $48k a year and not bring the balance down. More than enough to cover $2500 in rent on a nice 2/2 most anywhere in Miami with no maintenance and no property tax and the convenience to move. Investing $60k a year = $600k after 9.5 years and that original $1.2M = 1.8M at age 60 At age 50. You want working to be an option. First downturn they lay off high paid older folks first.
I would buy a nice lot of landed in the suburbs, build me a nice cribs and then, put some money in cds 1yr,2yr,3yr, and then a 9 month cd and go back to work
Due to the biblical foundation of the Dave Ramsey empire, he can't be seen or heard condoning divorce. He has to cast dark shadows or disapproval of it in some way- hence "you must be grieving". But at least he didn't judge her.
Lol def not true she can live in. A sweet condo downtown for way less (I have a condo in Brickell) she is an older divorcee makes less sense to buy a large home , with more maintenance and stairs .
She's gonna be living by herself now, or maybe have a new boyfriend later on, so why buy a huge house just for one person? Get a nice 2-3 bedroom ranch house or two story house for half a mil or less and pocket the rest.
@@RPE-Official I have sir and will continue to do so. We've all been through rough patches. I have found a way I believe to get by whilst my job situation gets sorted out.
Why live in a million dollar house when you can build your own house for about 300,000. Put 500,000 in a ROTH IRA and just use the rest of the money for whatever. People live beyond their means in today's society
Take $200,000 put down payment on new home. Invest $1000000 in various places. Live off the $120,000.00. She doesn't need million dollar home. Bad advice.
Actually those are not very bad decisions so far. She didn't go and get herself stuck in anything. She just put herself in a comfortable temporary position until she makes permanent ones.
Man, you americans just make everything so complicated. She could make millions more with that kind of extra money but no! this guy advises her to buy a million dollar house in Miami. Smh
I'm from Canada and some places in Canada that is a lot of money. But someone living in say Toronto or Vancouver Bc that isn't a lot of money if you live in these 2 cities. But those living in tents in Vancouver that can't afford housing to even afford to rent. I'm sure they would probaly disagree and say that's a lot of money. And I live in Winnipeg that money I could buy a really nice house free and clear and still have a lot left over one million buys way more than a shack in Winnipeg.
She sounds really happy divorcing the guy.
Who wouldn't be with a 1.5 million payout. Sounds like a sweet deal.
I bet he is happier. I listened to her talk for 5 minutes and I was ready to divorce her.
💰 💵
@@APDECHO2 I was 2 minutes 36 seconds in when I wanted to divorce her haha
@@APDECHO2 I bet she's smokin' hot though....
Within 2 seconds, I was able to pull up several pages of homes for sale in Miami for 500k. So many of them...NOT. SHACKS. C'mon. She may be used to living in a mansion or whatever, but she's single now, and I'm guessing the "kids" have moved out. There is no reason for a million dollar home. Insanity.
Totally agree. 500k on home. Put 100k in the bank. Invest the rest. Pretty simple. Dave’s advice is always the same. Pay off your debt. We know Dave.
$1.2 million would help me sleep at night😂💪
Black Vito - Moneyology & Philosophy that’s an understatement lol
$200,000.00 would help me for sure.
@@armandol1826 you aint lying😂😂
@@MrJay197409 that'd be great tbh
For real Vito!!
“You have to be grieving a 20 year something if you’re not you’re weird” 😂😂😂😂
What I would do:
The kids are adults. Downsize!
Buy a 400k house no matter the size. Buy a used truck in very very good condition. Save 100k. Put 200k into an investment account for my kids. Invest the remaining 500k.
With 120k annual income, and no debt, I would invest 70k of my income for 5 years, then retire...
Withdraw 4% from per annul from my investment and be good for the rest of life.
V P it's probably 120 gross income
@@MiguelLopez-mh5ih you could be right. Good catch.
Either way, she could still invest 50% of her net income if she has no debt. He income is double what a lot of people make.
She said her kids are teens
With that no need a use car... 120k a year? I'll a house cash and invest everything else
Dave Ramsey:
People calling: *Can I buy a 1.2m truck with cash?*
OneAboveAll no ones going to get a 1% return on a $100,000 house.
OneAboveAll 1% return/mo would be difficult to get in rent if she bought all real estate with 1.2M and rented it all she would likely end up with 60k/year income minus the expenses to maintain the properties and management fees which she would likely use. Though the properties will like appreciate in value, but you can’t count that as income
OneAboveAll I’m saying a .5% monthly return on a property from rent is probable. She will still have to pay taxes on the $60k.
Divorce is toxic, no matter how amicable.
marriage is toxic.
@@bigvic950 marrying the wrong person is toxic
Move to Texas. $400k house is living good.
Ben B facts.
YESSS It is!!!
Heck, 250K gets you a LOT of house in Texas.
400K is luxury living to me.
That would be due to the fuckton of space
IRON-PANDA For me too.
some people are happier divorced.
These situations remind me of watching Fixer Upper:
Steve: I am a store manager at CVS
Brenda: I am a pet groomer
Steve and Brenda: Our budget is 1.3 Million
Chip & Joanne: Well we have this run down house for 300K, we'll renovate it for $1M in OUR pockets. But along the way we'll find some things we should have seen at the start but hey, tough, we'll make you pay for that too, remember that contract you signed to get on TV? You niw owe us $1.4M plus hey, you want the furniture too y'all?
Anne Day Thank her husband because she could never afford a 2.4 million dollar home on a 6 figure salary.
Dave: you have to be grieving. 🙁
Her: I’m FAN-tastic!
My favorite part. 😂
Why would Dave suggest a 1 million dollar home? I would move to Texas or Georgia and buy a 400k mansion. Pocket the remaining 800K and continue to build wealth, with a 120K income. This lady could be worth 3 million plus by 65.
Because she can afford it, and likely wants to stay in the region with kids or family. Notice they didn't talk about OTHER split assets, which might be many more millions ... conversation was only about the HOUSE $.
@@danger450 Yeah I agree that was her huge lump sum. And not having a payment on a million dollar home in Miami? The value of the house will probably double by the time she retires if not more.
She can get a very nice home in FL.
@@aidancash1 All of Florida is not MIAMI.
DeAndre you need to be realistic about the area. property prices vary hugely across US
*Hahah I know what you should do - give them to me :)*
“I’m also single” 😆
Nope. Move out of Miami, Buy a 200k house. Invest the rest. Kick back
What an amazing husband. He kept the family in a great position overall. Best divorce story EVER
No divorce story is a great story. He broke a promise to be with her forever and destroyed a family.
Bryan Jacobs
You’re an idiot. When my parents divorced it was for the best. It’s better for the kids to see both mom & dad happy with other people instead of being miserable together.
The husband left the family in good standing with finances & she even said they ended on good terms & put the kids 1st. It sounds like the best divorce story I’ve ever heard!
Just because people get divorced doesn’t mean they ruined the family.
I would take the opportunity and retire, buy a 350k home, invest in an index and Max my Roth IRA.
Diego Alejandro Garzón you’d have to already be maximizing your Ira since early 20s
@@30minutesLess not true, you can invest in any unregistered account and be overflowing with dividends.
Mr. Schniggle-Biggs I’m talking about Roth IRAs.
@@30minutesLess you don't need to be maxing out your Roth IRA to retire early. But it sure is a good idea if you have the chance, you're right.
Mr. Schniggle-Biggs oh we’re retiring early. Alright with 1.2 mill I’d say half would go in to an index fund with the highest dividends and the rest goes into down deposits for multiple rentals
A single person with 120k salary cannot afford to maintain a 1mm house. She can live very comfortably for a lot less in Miami . The rest should be part of retirement fund.
anastasiabeaverhaus9 how much do you think expenses will cost if the house is paid for??
@@TBLBill well, 120k is gross, not take home. She will have to pay property taxes and put some away for repairs which homes will always need. So. 15k-20k per year is not out of the question. She would be all in on a house and have no cash? She leased a Honda . She needs to save for future healthcare expenses because she is single. She simply does not have a 1mm house income. Also, she doesn't need it, her kids are adults. Otherwise, she will end up broke and probably past the mid point of her career due to age.
@@anastasiabeaverhaus9 she definitely doesn't need it, but I think without the house payment it would be possible. Even if she paid 15-20k per year, that could still essentially be less than 1/4 of her net pay going toward housing, even though it'd be taxes and everything but not the house payment
900K into retirement, 175-250K home and the rest is saved for repairs etc
Lol she’s cheerful, Dave my friend, because married was an investment for her. Now it’s time to cashout
rick m60 she makes $120k, she surely contributed a large amount to this equity over the years.
How do we know that? She said he controlled things and first thing she’s does is get a car lease and rent a condo. Yikes.
And how do you know she contributed even $100 out of $120,000 toward the house? I certainly don’t know that. I know many women who have jobs and contribute very little to the household. It’s like their spending money. All I know is that she has made some poor decisions already, and she might very well end up making a poor house decision in the end
Why do people spend money the moment they get it? I'd either save it into the bank or invest on businesses or stocks and keep living below my means. Our spending culture is ridiculous. All spending no saving
"Save it in the bank" - literally worse than spending it on many things.
What about the tax hit on the money? Should maybe consult a financial planner and tax attorney before doing anything.
@@ttindall8609 Income is taxed then sales tax is applied everywhere.
@@ttindall8609 I'm saying there is an example of doubly taxing money.
Why not buy a 400k-500k house. I mean a million 💵 house is too much.
Yup and depending on property tax
they're talking about Miami.
@@MoD3RnHD Dang it's that bad there?
The property taxes will be significant on a million dollar house in South Florida. At least $12,000. Plus house insurance on a much bigger house (especially older art deco homes) would be expensive. She could move a bit more north to Palm beach county and get a great house for half the price.
Bridget Love - Weston is nice.
I'll take it off your hands.
Give it to me, duh! You don't want to have to mess with all the hassle from dealing with that much money. I'll do you a favor and take if off your hands because I am a nice guy. You don't even have to thank me.
Million dollar house for 1 person. Really? Buy a 500K house.
I live in Orange County, CA and the market here is higher than Florida (taxes).
Why do I feel like Dave only gives good advice to poor people..... I feel like he was lost on what to tell her.
Olya yep. Buy a million dollar house and slog in out for 20 years until you're 70. Only THEN can you live like no-one else.... With your walker & lumbago.
@@DiscoFang Yeah. As others have said, she can buy a 500k house, invest the remaining 700k, plus invest 25% of her 120k salary and have millions in less than 10 years.
He gives advice to people who are Financial morons. And he says anybody that disagrees with him is dumb and stupid. Such knuckle-dragging mentality. This was particularly terrible advice. She could rent for several years on her salary. Take the 1 million invest now wisely and 7 to 10 years double her money. Then double it again by the time she's 70. Davis so anti any kind of debt but he'd rather her spend the whole million in a house which does nothing to generate money for her. It's a million dollars of dead money. So stupid.
Girl you got it. You sound like a person that know what your doing.
I would definitely find a good lawyer first!
A good lawyer who can free you from paying their $850 per minute time charge professional fee !
1.2 million.
I would Buy a house for 500k or less move to a different state pay it cash
invest 400k 200k stocks 50k gold 100k in my business 50k in high risk investments like crypto MJ stocks etc
300k Save for a rainy day either put 200k in a savings account or in a safe dividend paying stock
Hold 100k cash probably buy a nice car live a little.
Max out your Roth IRA, take what's left then put half in mutual funds half in a monthly dividend paying REIT.
Elton Phillip not safe in a monthly reit
@@KnockoutInvesting what do you mean, why not?
Assuming Dave's proclaimed investment return of 12%, if she were to invest the $1,000,000 in a mutual fund (and didn't make any additional contributions after that!), she would have nearly $11 million by the time she's 70. But if she follows his advice here and instead uses it to pay cash for a house, she would need to save over $100,000 per year until she's 70 in order to have the same amount of wealth. This is obviously impossible. If she can get a mortgage with a relatively low interest rate, it would be throwing away a TON of money not to do this in order to be able to immediately invest that lump sum.
If she followed his advice and saved only 15% of her income, she would only have about $2.3 million (even if she gets annual 5% raises). It's best to do the math before giving advice like this.
Also, Dave didn't ask how much she has saved for retirement. If she doesn't have much (or anything) saved, buying a $1 million house cash rather than investing the money will just about guarantee running out of money in retirement.
@Anne Day Well I'm not sure she needs a $1 million house either :P
We don't know if she'll have more than enough to retire on unless we know how much she plans to spend in retirement. According to probability analysis (a method that runs 1,000 simulations of various market outcomes), she would need to limit her annual spending to $110,000 in retirement or else she would have a good chance of outliving her money. Of course, that sounds like a large amount to most people, but probably not to someone who is used to living in a $2 million home. If she wants to spend more, following Dave's advice here would not be a good idea.
The main problem is that we can't assume anything about her retirement assets. We simply don't know if there were any to split with her ex husband (it's unfortunately true that a lot of high income earners are terrible savers and don't necessarily have the assets we would expect them to). The fact that she asked if she should put the sale proceeds into a CD makes me wonder if she has any investments at all (if she did, wouldn't she realize it would be better to invest the money in something like mutual funds?).Dave should have at least asked how much she had saved already before giving any advice. If she doesn't have a lot saved for retirement, following the above advice would mean a huge amount of risk. Ultimately, this is the danger of getting general financial advice. Someone on the radio can't possible know all the relevant details of a situation. Financial advice needs to be personalized and based on intimate knowledge of an individuals overall financial picture.
If she invests the money and gets a mortgage instead, she gets both the house and a secure retirement. She wouldn't even need to invest any more at that point and she still most likely would be fine! That may go against Dave's one-size-fits-all advice to never use debt if it can be avoided, but dogmatically following universal principles in individual situations can be dangerous.
I saw beautiful and newer homes in Miami on Trulia for $500,000 or less. I think the smartest thing for her to do is be comfortable in a gorgeous $500k house I have seen in Miami. And have $700,000 left over and saved up plus she's making $120k a year. She can buy stocks, put into a CD, save and invest. I disagree with Dave about buying a 1 million dollar house!
Jesus.
“As a man never sign a contract with someone who is rewarded for breaking it”
"You don't get that much for 1 million, it's a shack" 😂😂😂😂
she could go an hour north of miami and get a mini mansion lol.
Worried about her, expensive tastes, already bad execution having a lease. Lets hope she learns fast before the money is gone.
Robert Spencer yes. Talk about a warning sign. And she never was involved in the finances for the whole marriage. If you live in a paid for $2.4M house and don’t know how y’all got into it...
She says she's been smart with money her whole life...
Dave: Do you have any debt?
Caller: No I'm just leasing a car.
Dave: you have Debt Pay off the car today!
With 120k a year? I'll buy a house cash and invest everything else
This poor woman has no idea how to take care of her money. This money is going to be gone real quick.
Move to another state - perhaps a University town such as Norman, OK or Austin, TX. Real Estate is more affordable and lower taxes.
Some people really dont get the no payments thing. Yes it's a lease and you need a car. It's a payment. Its money going out. Doesnt even matter if it's a dollar going out. It's still leaving and not coming in.
1.2 million is making her in a good place
Girl, you can find a $500,000 nice home in Miami.
This lady talks too much. It’s a tad irritating.
Dave needs more details, so many things you can do being in her position.
Stressed about suit settlement of 3/4 of million.
She needs to shut up and listen
That pays for the house, but what about the property tax on a 1 million house, that's gotta be a chunk of change. Or maybe she can afford that apparently, a 2 million home is around $25,000 per year so a 1 million would be less.
Lol property tax on 1 million house would probably be over 100,000.
25000 a year? Lol no
@@Proto6789 exactly 25000 year is a joke. I have 800k property and its about 80k in property taxes!!!!
@@Proto6789 I dunno, I just asked google home and that's what she told me.
Moses Yi Here in California property’s is 1.25% per year of the purchase price. So that would be $12,500 per year on a 1 million dollar house
It’s easy for me to arm chair QB this situation and tell her to rent, but when a person is accustomed to a lifestyle it’s totally different.
Sir TrixxxAlot very true it can be quite difficult, for some to humble their lifestyle.
Rice and beans... Rice and beans...
She should move an hour away and buy a $500,000 home.
Id give her 5 million to stop talking lol. Live in a 500k house and save the rest for retirement, taxes, food, medical, travel etc.
Her husband was willing to pay 1.2 million for it
She should buy her new younger BF a nice sports car and pay his bills for a while.
Not to mention the negative cash-flow from that neo-feudal property tax.
just looked on zillow for 1 million dollar homes in miami. yikes its not looking good for her.
Clearly this dude doesn't take women for what they really are and asks the silly question: "Why aren't you sad about your divorce?"
What about just paying off the debt and putting the rest in high growth stock mutual funds?
Love Dave Ramsey.
Shes happy because she got half
Anne Day if she had a 2 million dollar house and she was only bringing in 100K the husband was bringing well over 100K
I would purchase a house for 150,000. That’s it.
Maybe it’s time for her to explore options a bit north in say Georgia. 300k house and just rack up wealth
Why would a single 50yo want to live in a $1m house? I think there's factors to Dave's reasoning here that he didn't verbalize as this wasn't very useful for the real estate tax layman.
Why no more full shows??!!
They have another RUclips channel
Put it all on black
😂
I'm not financially savvy. What's a "CD"?
Jelani Billups Certificate of Deposit - a type of bank savings account with minimal interest.
A certificate of deposit (CD) is a time deposit, a financial product commonly sold by banks, thrift institutions, and credit unions. CDs are similar to savings accounts in that they are insured "money in the bank" and thus virtually risk free.
Jelani Billups a scam
Thank you everyone!
A scam, used by the banks to lock in your capital, pay you basically nothing,while they loan out your money for multiple times more.
Did she call a million dollar house a shack!
I thought she called to flex, but it was funny when she seized up when Dave asked her if she could live in a one million dollar house she started to sputter. Tells you a lot about people’s lifestyle. She could easily buy a $500K - $600K in cash and keep the rest in investments and savings, etc.
don't forget her pension money. probably a lot of money
I aint saying she a gold digger
She sounds real sad about this divorce 😂
She just wanted the money. She's happy
Put the money in a trust and invest it, live off the interest.
Honest in her shoes I would rent and invest the cash into a wide variety of stocks, bonds and cash investments. If $1M is “what it takes” to own a house in Miami, forget it. Find a nice $2500/mo rental close to work or kids or what have you. Spend the next 9.5 years from 50 to 59.5 getting as much money into 401k/Roth Ira / HSA / backdoor Roth IRA/mega backdoor Roth / catch up contributions as you possibly can. Try to invest over half of that $120k salary for the next 10 years that way. That 1.2M using 4% rule will spit out $48k a year and not bring the balance down. More than enough to cover $2500 in rent on a nice 2/2 most anywhere in Miami with no maintenance and no property tax and the convenience to move. Investing $60k a year = $600k after 9.5 years and that original $1.2M = 1.8M at age 60
At age 50. You want working to be an option. First downturn they lay off high paid older folks first.
3of11 - agree ageism is a danger in most careers. I thought this also
I know Miami is expensive, but it's not THAT expensive. Come visit me in the San Francisco Bay Area if you want to see how little $1M will buy you.
I am almost sure people troll Dave.
I would rent a condo park the money and buy somewhere else instead of my Miami
I wonder if she has any investments outside this money.
Give,save,spend.
Lol he’s talking to a psychopath
I’d Live off of the interest FOREVER........
EXPECT THABEST this is the right answer. 6-8% of 1.2m is enough money for almost anyone to live on.
Daniel Iles I dont know about you but its enough for me to live off with my current occupation and salary...🤷♂️
She sounds happy renting. Just put a bit of the million in mutual funds fill up her 401k and put some in high yield savings.
I would buy a nice lot of landed in the suburbs, build me a nice cribs and then, put some money in cds 1yr,2yr,3yr, and then a 9 month cd and go back to work
Due to the biblical foundation of the Dave Ramsey empire, he can't be seen or heard condoning divorce. He has to cast dark shadows or disapproval of it in some way- hence "you must be grieving". But at least he didn't judge her.
Hey Dave, what's your take on Andrew Yang's freedom dividend of $1,000/mo?
Surprised Dave Ramsey didn’t tell her to pay one of his financial advisors to put her in a high fee actively managed mutual fund.
She can not buy anything decent for a million in Miami, so she should move outskirts save up and then move back with 1.5 mil
Lol def not true she can live in. A sweet condo downtown for way less (I have a condo in Brickell) she is an older divorcee makes less sense to buy a large home , with more maintenance and stairs .
$1,000,000 hose is a "Shack" to her? JEEEESUS.
In Toronto it would be.... 1,000,000 is nothing. Houses are ridiculous here... Everyone wants a mansion and fancy cars
She's gonna be living by herself now, or maybe have a new boyfriend later on, so why buy a huge house just for one person? Get a nice 2-3 bedroom ranch house or two story house for half a mil or less and pocket the rest.
Give your friend G L some in order to get my car from being repossessed as well as having a roof over my head with the rent being paid 😳..
@@RPE-Official I have sir and will continue to do so. We've all been through rough patches. I have found a way I believe to get by whilst my job situation gets sorted out.
Why live in a million dollar house when you can build your own house for about 300,000. Put 500,000 in a ROTH IRA and just use the rest of the money for whatever. People live beyond their means in today's society
I don’t know what Miami you’re living in but you cannot build a house for 300k.
And before you give me a smartass answer and say move somewhere else she likely can’t due to her family, job, and other obligations.
@@exec.producer2566 Don't live in Miami and find a different job.
It must be nice 😑
Guys getting that kind of cash settlement from divorce are rare as hen's teeth.
1.2mil 😄👍
She can easily turn that into 5mil
Howwwww?
@@ahmednajeebbutt investments ....
Take $200,000 put down payment on new home. Invest $1000000 in various places. Live off the $120,000.00.
She doesn't need million dollar home. Bad advice.
Just live in a trailer
“We lived smart” she says
“I didn’t do finances” she says
Gets half.. immediately rents a condo, and gets a car lease.. what’s wrong with people?
Actually those are not very bad decisions so far. She didn't go and get herself stuck in anything. She just put herself in a comfortable temporary position until she makes permanent ones.
A car lease is fine if u have 1.2mil in cash and make 6 figures.
The homeboy MGTOWs were so ready to go off in the comment section, untill they heard she earned 120k a year. Bummer.
earns $120k a year and knew nothing about finances. lol
Does that include alimony?
@@internettroll7497 KNEW IT
With a 2+ million dollar home...I doubt she was the one paying off that mortgage...sounds like her income was likely play money for her.
@@JustIngrid86 so?
Now the world knows what u got miss happiness.
Give half to charities and the second half to rethink clearly what you really want for your future.
Man, you americans just make everything so complicated. She could make millions more with that kind of extra money but no! this guy advises her to buy a million dollar house in Miami. Smh
Divorce is an awful thing
Lol don't get that much for a million......
I'm from Canada and some places in Canada that is a lot of money. But someone living in say Toronto or Vancouver Bc that isn't a lot of money if you live in these 2 cities. But those living in tents in Vancouver that can't afford housing to even afford to rent. I'm sure they would probaly disagree and say that's a lot of money. And I live in Winnipeg that money I could buy a really nice house free and clear and still have a lot left over one million buys way more than a shack in Winnipeg.
SHEESH 😍😍