Where Is The Best Place To Park My Money?
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- Опубликовано: 8 янв 2016
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The Dave Ramsey Show that
You do realize Dave could not handle credit cards, and advises people against getting credit right? Why listen to this idiot.
The system is failing as a result of both government and federal policy. In the next days, the banking crisis would have to be epic and gigantic for the FED to decide not to raise interest rates. This won't happen; an increase and a crash are coming. There will be more negative portfolios this 2nd half of 2024 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Very true, you can be passively involved in the markts and still amass wealth-gains using an investment advisor. I first dabbled in stocks late 2019, just before the pandemic, and that same year gained over 150% with no prior investing experience, basically all I was doing was following directions of my asset manager. We are working on a retirement ballpark of $3m and I’m certain my goal isn’t farfetched after subsequent investments and tremendous returns so far.
Mind if I ask you to recomend this particular coach you using their service?
Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I avoided a 75k student loan and 30 year home loan by recently breaking things off with a woman....best financial move I have ever made! I make just under 30k and have started investing into a 401k. here's to the future!
Poor Man's Preparing I
Poor Man's Preparing Smart man, best of luck!
You've done quite well grashopper!
I would have taken a vacation after making such big move and saving my life from what would have a been a nightmare. If you can't take a vacation go ahead and drink a few margaritas.. salud.
It's so sad what the love of money can move a person to do.
Mr. Ramsey, Thank you for your advice. Whenever I'm in a financial trouble, I listen to you and it turns out alright. THANK YOU. Love your show. 🤑
This is literally why I have always remained single. Every time I hear stories like these it makes me proud to be single. Lol.
Nothing wrong with being single but nothing is better than a good marriage sharing your life with someone you are married to.
Just get a prenup
Oh my. Single and happy...I don't need someone destroying my finances
Why she had to give half her 401k to her husband
Yeah I know right
This woman is doing rather well: about 110k as annual income and only 30k in debt.
And she gets child support? Wow!
@Ali-jw4sj In what world wouldn't she if she is going to be primary caregiver? They aren't living with daddy.
@@KlearChristal If I was separated with my wife, and I was the primary caregiver, I wouldn't be asking her for child support if I am making 100k+ and living with my parents which the caller is.
2021. I hope her family is happy and stable in this horrible year. Debt free and no groceries is a nightmare.
I'm 47, never been married, and I'm not going to get married. Too much risk these days.
Finally someone is with me,
Don't to it 👍👍👍
Just hearing the words Child Support makes my skin crawl
only a loser-dad would say that.
Paying child support not only takes care of your children but shows them YOU are a Man as well as the love & concern that you have for them...it doesn't end at child support...you also need to make reg contact even if phone calls and plan events so they have happy childhood memories of spending time together...lots of free & low cost activities...be creative...
your involvement is the key factor...not what your doing
@@joestewart7487 And the people who want to be with the kids instead of paying child support.
Child support doesn't show a child anything at all. Being an involved father matters. I know people who pay child support and don't exist in the kids life. Child support can break a man's bank. It's better to work with your ex partners and work something out. Unfortunately there are too many people who don't want to resolve these things in a civil manner, essentially shooting themselves in the foot. If you need assistance the worst thing to do is child support. Because they will force him to pay so they could drastically reduce government assistance. If they would work things out in private, she could receive the money and have a better chance of receiving actual support such as food stamps.
@@joestewart7487 child support is actual slavery and is only pursued by women trying to spite the father of her children what are you talking about
Divorces have to be the worst external shock to your finances. I've been through it, and I wouldn't wish it on anybody. It took me many years to get back to a good financial situation.
So where is a good place to save money? I listened to video and did not hear a place.
I'd recommend checking rates at your local credit unions and banks. If you're the type of person who likes to borrow from your savings account, you'll want to park it at a bank different from your main account. I also have a CIT Bank account because they have no minimum balance requirement and pay high rates.
If you just want to put money in a savings account make sure it's a high interest savings account. At least 2% annual interest is a good place right now. Ally Bank and American Express both offer rates around that right now.
@@PerfectionHangover Just opened a CIT Bank savings account, at 2.45% APY (vs. .01% at my CU), it's a no brainer.
IUL
Dan Becker n
So what was the best place to park money? Im here to get financial advice not hear people stories.
@Christopher Chinchilla Ummm mutual funds can be volatile and have I commission, dumb idea. Just buy stocks of companies you choose based on your risk appetite 🤷♂️
@Christopher Chinchilla Too high commisions, have fun in your Dave Ramsey cult
@Christopher Chinchilla Mutual funds are outdated, they are simply not worth the extra cost over simply buying the stocks yourself. Nowadays online stockbrokers only charge a small flat fee for each transaction whereas mutual funds want a percentage of profits.
@Christopher Chinchilla In reality mutual funds do not provide higher returns over time than simple index funds and exchange traded funds without the commission fees. Mutual funds were good in the past when access to financial products was a lot more limited but nowadays far more financial products are accessible to everyday people and at a much lower cost.
@Christopher Chinchilla A lot of millionaires invest in many different financial products. His advice is designed for people of average to below average intelligence to follow. He is no investment guru he made money from selling books and property
People the title of the video was her question and he answered it... “money piled up in the corner” don’t invest yet-for her.
Divorce is such a horrible thing. Who ever causes the divorce(i.e. physical abuse, verbal abuse, not showing compassion) is an idiot and doesn’t deserve the other spouse. Just make sure to treat your spouse with love and kindness, and if your spouse is angry towards you, be the water against the fire and wipe your spouse’s angry away.
I wish my husband did that.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@lennoxmutterick6434 However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
@@Lourd-Bab Oh please I’d love that. Thanks!
@@lennoxmutterick6434 Judith Ann peace is her name
Lookup with her name on the webpage.
$100k+ yearly salary and a negative net worth. Your not doing it right.
A $100k is not rich by today's standards. 25 years ago it was awesome money, not anymore due to inflation. The more you make the more Uncle Sam takes.
Eric I’d be debt free if I was making 100k a year.
100k is pretty dang good depending where you live, In my town there's decent houses forsale for 100k or even as low as 50k if you want to do a little fixing up on it. In lets say LA, or NYC, or D.C., you'd struggle to find a place to live for 400k, or even upwards of 600 or 700 if you wanna be in a decent part of town or have enough room for your family. So 100k a year in those areas is scraping by. Where I live, 100k a year is loaded you could pay off a house in 5 years, pay off a couple cars in 5 years and then live debt free forever and just buy new cars every 10-15 years or whenever needed. So it really depends where you live.
where do you live?
Butte Montana.
I love these calls but I rarely hear people who make under $50k calling.
At first it sounded like she was broke enough for me to feel sorry. With 100K + (not counting husbands income) how the f@&^ do you get in debt? I truly don't understand...dumbitis? I can see why Dave gets angry at times. Thank God these people are capable enough tune their financed radio to Daves show..
I am the Juan and Only I live on around 18k a year
more money, more problems
Van Riel are you from the Netherlands?
Bart Van Riel ofcourse you live on 18k a year you are probably dutch. Cheap and stingy defines dutch culture
Edison you are an idiot. Judging someone you dont know
Well said
love how she blames the guy for everything
I love Dave but he's such a simp.
Child support ok
Alimony? Come on Dave.
All woman do
@@marquestanderson1388
He says nothing about her dragging the kids to another state all of a sudden.
I'm sure the kids will hear all about how dad sucks for not following them across country for 15 years.
that's like 70% of the calls and Dave is a simp.
@@insomthegreat He left them. Did you not hear it?
Why is she moving the kids to another state away from the father. Stealing
Thank you hi from Puerto rico 🇵🇷
This was hard to listen to
These people are having financial troubles with 100k? What kind of lifestyle do ppl live, i must really be slumming over here
For a place to park her money for awhile,
I recommend Vanguard's short-term bond or muni-bond, or Schwab's SWSBX (lowest exp. ratio)
but for that lady, with her income, she has only the divorce problem to really worry about.
Thank you for actually answering the question
Depending on one stream of income had never made any millionaire and earning check don't put you on forbes
@Serah Fabregas Mr Charles Patrick is the best, recommending him to all beginners who wants to recover losses like I did
Trading with Mr Charles Patrick was never a regret to me, All thanks to him, he is the best I have ever seen
+ 1 ••• (9 1 8). •••• 3. 1 9 •••• 9 1 3 4
Not everyone wants to be a millionaire
@@MRainy-ot7rc yeah some of us want to be billionaires or trillionaires.
This is a timely video. Need to know where to park my ~$250,000,000 in cash from winning the powerball, tonight.
lol. i hope you win
You can park it in my bank account. I will take good care of it lol.
knpstrr in my bank account
Be careful what you wish for.
Grow your money - with other people's money when you have 5,000,000 and over. I can help with this kind of premium financing if someone has at least $5 million
You don't have to take anything from the other spouse not even child support if you don't want it.
My ex wife left and didn't ask for anything. But I did give her something to help her start over. My pension, house, 401k etc was never in jeopardy.
We were both civil and 3 years later we are getting remarried. God this is the only woman I will ever trust financially.
How can you avoid child support? Do you not live in the US? My mom told me that when she divorced my dad and moved out (my youngest sibling still lived at home & under 18, I was already on my own out of the house) she was made to pay child support but he supported her in not paying so never made her. It must be dependent on the state you live in. Be ause I looked up child support law in my state and couldnt find a way around having to pay it if one spouse moves out (during separation or after divorce)
@@ms.anonymousinformer242 if the other party say no then it doesn't matter what the law says
That’s awesome! 👍🏻👍🏻
Curious... what was the point of the divorce then.
@@scatdawg1 Child support is for the children not the other party. You can't avoid it
$115k a year and on child support...I love how women look at children as an investment opportunity
It isnt how Amazon look at men. It's how the court system works, and applies to both men AND woman depending who has the kids. If the father has the kids in his home (could be from mother wanting them their to keep their same home and bedrooms& have a better home to live in if she makes less $) then the mother who moves out would be the one made to pay CS.
maybe the husband makes more than her. just because she makes that much doesn’t mean the husband doesn’t have a financial responsibility to care for his kids… all her income shouldn’t go all to the kids while he does nothing
It doesn’t matter how much a woman makes, if she has the kid most of the time and the man doesn’t contribute to his child at all, he needs to pay child support. Any smart person would tell you that.
Some do
Married people should not mix finances... Sign a prenup, write out a contract and review as you go along. If you have a 500k student loan, it's all yours to pay; if you make 500k a year, it's all yours to keep... you contribute your share to all expenses in a predefined ratio. When we split up, you take what you came with, and what you made whilst we were together. It shouldn't be that hard.
Just DON'T get married.
@@ShadowTiburonagree, no point of getting married if you don’t share finances
Dave, Thanks for all you do. I love the Baby Steps plan and have bought your book for all my kids and it is a standard Wedding gift I give. One concern I have is medical insurance and costs. If one is not fortunate enough to have a job that has those benefits, then I think the recommendation would be to self insure and make that a necessary expense. What is your advice to young couples?
Wow your rich
Chaying Pild support
sstteevveenn77
😂 crazy.
sstteevveenn77 she’s nervous
Lol you crazy
😂😂
"Pile it up in the corner." Thanks for defining a money market account.
Just because she makes good money doesn't mean the father should not meet his obligations, I admire people a plan, I wish you the best in your new life with your kids, things happen for a reason
Louder!
God bless this man
Terrrrrible advice. She should put the money from the sale of a house into a Roth IRA. Invest it in a money market account so it stays safe and liquid. Because this show aired in January, she’d be able to make a Roth contribution for the current year and the prior year. If the poo hits the fan she can take it out, but if things stay stable she can move the money into a more aggressive account within the tax shelter. She should also be contributing to her 401(k) up to the point of the match, at least. That is free money she’s leaving on the table.
that was beautiful in its own sense
He’s so condescending, he basically is thinking OK so you’re broke and you have no job and make no money b/c you're a single woman, and then she said she makes over 100 K a year and he’s like, what?
She is broke. How is that condescending?
@@dpeagles Because she's not and makes over $100k a year. Maybe like, watch the video?
I think this video was mis-titled
I'm new to all this and learning fast. I have a question about the baby steps. Shouldn't she have 3-6 months reserve "before" paying off her debt. What if she gets laid off after a year and needs 3-6 months to find another job.
Hey Ken, Baby step 1 is to save $1,000 emergency fund. After paying off all the debt, aside from mortgage, then they recommend saving 3-6 months of an emergency fund.
This is really my favourite Channel!
Thanks for your nice Videos,
it is very enlightening,
Waiting for your latest update.
Elward - Mansion Parkette
Dear Dave
I live in Australia, I tried to ask a question through your website but I have to live in America,. Is there a way I can ask a question please? Kind regards
Don't let your outgo exceed your income or your outgo will be your downfall.
I missed the part that told her where to park that money. And what about tax shelters on the profit from the sale of the house? That 10-15,000.00 isn't really 10-15,000 after the government gets their hands on it.
Yep, waited for that too all for not smh.
Park in the saving until more stable stage.
NO ONE WITH AN INCOME OF 100K+ SHOULD BE CALLING DAVE RAMSEY!! I earn WAY less than this but I'm financially stable with ZERO debt. It just proves that money really can't fix stupid!
Just because you have a lot of income doesn't mean you know where to put it .
quantomic1106 - divorce can create problems. I think she should request alimony because income isn't guaranteed.
Really? Where is the line, at what figure do you deem it 'too much' for someone to be foolish with their money? I'm being flippant because in America's culture, where financial education is often lacking, anyone of any income can easily mishandle their money.
no one with an income of 100k should be calling him?
you're talking as if her life is stable
she's obviously calling him because her life is changing and she wants to know the best thing to do with her money
weren't u listening? no, u were too busy preparing yourself to call someone stupid
You should not call stupid someone that is making 100k.
They most be doing something right. The real question is, what can we do to also make 100k...
GOD bless you Dave.
💯
So where do I park my money???
Slot 3
Is this a real call? You make 100k a year and will be living rent free for a year and will get 25k in cash soon. You only have 30k debt. What are you worried about exactly? Have you not ever watched a Dave video?
Making over $100k plus child support and she's going to live with her parents? As a grown woman with children? Why?
I was think n the same thing… I live on way less than that in the most expensive place to live in America
being broke as well as being broken hearted. smh :^(
Recently I heard about TFRA account. Is it real? Is it as tax free as it sounds? Can you explain what it is and give us your evaluation of it?
30k in debt and 25k of money. she gonna invest -5k?
Where exactly is she parking her money? Did I miss something?
In a corner somewhere that's his advice.
Alimony if a nightmare from the devil, child support is for your gifts from God.
Post these on Rumble
What do we do with our 401K’s during this time ?
Never even the told the lady where to park her money that’s extra
you never actually answered the question listed in the title of your video! false advertising
park ur money with Ally bank. their savings account is currently at 2.20% APY
Vangaurds voo
Wealthfront 2.32%
What about parking it in main street capital stock?
Does Mr Ramsey give any advice that you can benefit from before tuning 60?
Yeah, paying off debt.
She'll only receive $10,000-15,000 from the sale of their house?? How much did the house cost?
Why do you get child support with 100k plus income?
Europe First America First pure greed
Europe First America First because they are his children too
Rachel sara Lewis doesn't matter what you make. both parents are still responsible.
Yes they are and if you are the non custodial parent you either pay with your time and apply for joint custody, or you pay with your bank balance.
Europe First America First because the other parent doesn't get to divorce their children too. The law requires both parents to provide for what the helped create, so our tax dollars don't have to. Even though it doesn't always workout that way.
Wait... So for example: I'm 15, and I'm starting making money ONLINE where do I save/put that Money? Do I have to make a saving account or a custodial account? Before selling or What do I do.
This video title is deceiving or clickbait, shame on you.......................
park money? easy, silver and gold. if its parking like almost forever, its the best place to park.
before that have some money in cash, no debt, have stocks, some bonds and done you are good.
Definitely not in the parking lot.
Where Is The Best Place To Park My Money? - where's the answer???
Best place is to bundle the bucks and leave it on a street corner. Nobody will touch it. They think there is a tv show camera trained on it.
Do you have to report your savings account gains in your taxes?
Yes, if you earn more than $10/year in interest.
Yes you do if you earn more than $10/year.
I want to put my money on a gok account so where can I temp park my funds so I don’t get taxed I don’t want to park my money where I will get taxed but also have a decent interest
The "GOK" fund is an emergency fund thus it needs to be liquid. You cannot avoid taxes unless you want to lock it away in an IRA.
I suggest a good high yield savings or a money market account. ( e.g. CIT Bank) Goldman Sachs has a decent one too but as they greatly benefited from helping cause the 2008 financial crisis I refuse to do business with them.
So the guy is paying child support and she repays him by moving out of state.
Dave exactly
Sooooo where is it??
She didn't sound too broken up about it...
Two choices? Either you're against the system OR you're against the criminals? SOOOO! Either the bank & stock market OR home in the mattress?
30000 in debt so 10000 for the house and 15000 bonus should pay it off right.??? Everyone forgets about taxes... yea your 35000 is more like 22000.
i hate when the devil make people divorce
Where can I get a job that pay $115k plus $15k bonus?
truck driving
Porzongis Is King I’ve asked a few people about the business, they have stated that you basically have to work 7 days a week, and just maybe you’ll make around 60k a year. Working security right now I make about 52k a year. I don’t do much comparing.
yea thats if youre just a company driver , but if youre an o/o youll make anywhere between 150-300k depending on how hard you work.
RN
Ya registered nurse like the other person said
The other spouse isn’t required to give you Half of their 401k, as long as you both put on the divorce papers that you do not wish to receive the others 401k, and he same for the other spouse. Child support is mandatory, all else isn’t.
*A man making that much would have to cut an arm off during a divorce.*
Having trouble understanding what you mean. Can you elaborate. Not trying to be a wise-guy.
*There is a double standard in the legal system for the genders, including child custody, divorce settlements and alimony.*
+Keyboard Warrior Thankyou for taking the time to respond!
mrhozer whats mgtow
Marcus Goldman Sachs just raised their savings rate to 1.85%
currently 2.25%
I LOVE the G.O.K. file. 😁
Will be making 105k, I wouldn't even sweat. She's rocking!
Half belong to you, the other belong to your children. Zero belong to your husband.
Ramsey is crazy
All his methods are off the wall
I haven’t had a job or paid taxes since I was 30
I have 3 structured annuities since I was 30 I get 20k a month from them I use credit cards with points
I also buy in cash
Houses are paid
Cars are paid
Etc
My bills are used on credit card then I just pay credit card.
The best place to park your $ is in Bitconnect. Always.
I hope you're trolling.
Where is the answer to the title
Marriage boy I tell you
I don't see how people making over 100K are terrible saving money and actually well. They don't need to spend because they have more. People will save more by living as responsibility as they did before the new money was there. Beyond me, spoiled first world problems. SMH
Is it just me that is of the opinion if you're making $108k per year you have nothing to complain about?!
...just you...
IS PNC BANK A GOOD BANK TO BANK WITH???? WHAT BANK IS BETTER CHASE BANK OR WELLS FARGO BANK???? WHAT BANK IS BETTER PNC BANK OR CHASE BANK????
This show is like a therapy session ffs! Go straight to the point.
Man come on, he has to treat these PEOPLE like PEOPLE. He is a master at his craft for that reason.
Retitle the video. I assumed this was a place to park my money, now personal advise. Great advice but the title
Oh yeah we divorced and he pays for child support yeah great thanks for convincing me to stay single
Just put 10 to 15% in your 401 but don`t live in a cave. Index 500, QQQ, Total Market, Noble .. No credit cards. And you will be fine.
Marriage almost always leads to destruction of assets, heartbreak and parental alienation.
10k+15k=25k not 30k 😂🤣
It is dangerous to be married today, At least, for the uncommitted marriages. Be wise my dear. Quit borrowing money, learn to live within your means. Sounds like you have a good job. You can build capital fast if you want too.
Does not help at all. Common sense prevails period
Another paradise leaving from father