HENRY
@Henrytheefirst • 6,796 subscribers
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Caller: “I’ve been with my now-wife for 10 years and we just got married. She’s going to graduate dental school in May and she’s going to be bringing in about $750,000 in student loans. We also have about $40,000 in consumer debt, and I’m just struggling to see the light at the end of the tunnel.” Dave Ramsey: “You have no idea what you just said. That is a devastating situation you’re in.” “This isn’t just a little bit of debt; this is a massive, life-altering mistake. She paid double what she should have for that degree.. she got screwed.” “You are in a real mess. If you will live like absolute poor people and lean into your combined high income, you can pay this off in about three years. If you try to live like a ‘normal’ dentist, you will be in this hole for the next two decades.”
HENRY1,161,585 просмотров • 2 месяцев назад
Caller: “Should I allow my 25-year-old daughter to use money that was intended for college to pay off her credit card debt?” Dave Ramsey: “How much credit card debt is this?” Caller: “She has about $8,000 in credit card debt and $3,000 in a student loan that she never took any classes for. The college fund is $130,000, and it is in her name.” Dave Ramsey: “There are two sides to this equation right now. There’s the side where there’s a concerned mom who doesn’t want her daughter to blow $130,000 and look back and regret it. There’s another side: If she figures out that money is there, and you don’t give it to her instantly, she’s going to sue your butt and win.” Dave Ramsey: “This is not your money. You don’t legally have control of it anymore. You’re just trying to do a little smoke and mirrors here to keep your hands off of it.” “If you clean up the $8,000 with this fund, she may just rack up another $8,000. There were no lessons learned here.”
HENRY990,094 просмотров • 2 месяцев назад
Caller: “I have $3.5 million in retirement savings, but I’m still scared to retire. I’m wondering if I’m actually ready to pull the trigger or if I should keep working.” Dave Ramsey: “You have a ‘math’ problem and a ‘heart’ problem.” Dave Ramsey: “When you have $3.5 million, you are sitting on a gold mine that can comfortably fund your lifestyle without you ever touching the principal if you invest it wisely.” “The fear you’re feeling is normal.. it’s the transition from ‘accumulation mode’ to ‘distribution mode,’ and that’s a massive mental shift.” “Don’t let the fear of running out of money keep you chained to a desk you don’t need to be at. Run the numbers, look at your withdrawal rate, and realize that you have officially won the game.”
HENRY1,017,575 просмотров • 2 месяцев назад
Caller: ‘I’m turning 18 in about two weeks and I will gain access to a trust fund worth $3.5 million from some lawsuits I was involved in as a kid. I’m just calling to see what I should do about that because it’s more money than I’ve ever been accustomed to.’ George kamel: ‘When it comes to this amount of money at your age, it would do you a solid to have a long pause before we do anything with this money. There are going to be a lot of people who are going to want a piece of this… they’re going to come out of the woods, off your roof, they’re going to come out of everywhere.’ ‘There are only three things you can do with money: you can give it, you can save it, and you can spend it. I would focus on the first two before the spending part, because this can easily become, like, Richie Rich style.’ ‘At 17 years old, you still have, I don’t know, 80-something years to live. If you manage this well, you won’t have to worry about money ever again.’”
HENRY865,419 просмотров • 2 месяцев назад
Caller: “I’ve been a stay-at-home mom for 32 years and we’re now empty nesters. My husband thinks it’s the perfect time for me to go to work and contribute to our finances, but I honestly just don’t want to. Our home is paid off, he has $680K in retirement, and he makes $118K a year. Am I wrong for wanting to stay home?” George Kamel: “What problem does this solve for you to go back to work?” Caller: “He says it’s just extra money. He tells me that no amount of money will ever be enough in retirement.” George Kamel: “There is a fear behind all of this. He is worried that you guys won’t be okay.” Dave Ramsey: “There are two issues at the core of this, and they’re both spiritual. Number one is contentment. He’s never going to gain any kind of peace from hitting his money goals because he makes statements like ‘there’s never enough.’ You guys are millionaires. This is a fear-based thing.”
HENRY956,972 просмотров • 2 месяцев назад
Caller: “I have $18 million in net worth, but nearly all of it is tied up in a single stock. I’m starting to get nervous about the risk, but I don’t know if I should sell it off or keep holding on.” Dave Ramsey: “You are gambling, not investing.” Dave Ramsey: “When you have that kind of wealth, your goal isn't to get rich… it’s to stay rich.” “Holding $18 million in one stock is a massive, unnecessary risk that could wipe out your entire future in a single market swing.” “You need to diversify that portfolio immediately. Sell the position, pay your taxes, and move that money into a balanced, diversified set of mutual funds where it can grow safely for the long haul.” “Stop letting your ego or your attachment to one company dictate your financial security. You’ve already won the game; don’t throw it all away by refusing to cash out and protect what you’ve built.”
HENRY309,681 просмотров • 2 месяцев назад
Caller: ‘I’m debt-free and I have about $3 million. I’m curious if that’s enough to comfortably retire.’ Dave Ramsey: ‘It should be. That’s a lot of money. Well done.’ Dave Ramsey: ‘We have to define “comfortably” and what you’re going to do with this money. Because obviously you’re not stupid, or you wouldn’t have ended up with $3 million. But if you suddenly grew stupid, you could get rid of the $3 million real quickly and not retire, right?’ Dave Ramsey: ‘If you had it reasonably invested and lived on that income, obviously you could retire. I would have put that in good growth stock mutual funds making 11% or 12%, and lived off of about 10% or less.’ Jade Warshaw: ‘You’re in a great position. It feels like I hear a lot of unknowns in your voice like whatever you decide to spend on these weddings or college. Just put a number to it, put it on paper, talk to your kids about it, whatever that plan looks like. All the other unknowns, like if the market crashes and all that… that’s just fear.’ Dave Ramsey: ‘Unless you’re dropping a million dollars on that stuff, it doesn’t even matter. You should be able to make this money create 8% or 10%.’”
HENRY293,344 просмотров • 2 месяцев назад
Caller: “My dad is very kind and gives my kids a 1-ounce gold coin when they are born. They're sitting in my safe not gaining any interest. I want to sell them and invest the money for my kids so they have a substantial amount by age 18. My dad doesn't want us to do that because he wants them to be an heirloom to remember him by. As a parent, do I have a moral obligation to do what he says, or can I invest the money for my kids?” Dave Ramsey: “Your relationship with your dad is more important than $4 grand.” George Kamel: “Are you investing for your kids outside of that for college or anything else?” Caller: “No, we haven't started doing that yet. We need to.” Dave Ramsey: “Finish getting out of debt and get your emergency fund in place. You guys live your life and take care of your kids, and then this becomes an irrelevant issue.” “I personally would just forget that you have the coins, put them in a safe, and just not worry about it. You need to do whatever you need to do for your children's benefit.” “Don’t make an issue out of this right now. Live your life, secure your own financial foundation, and let your kids decide what they want to do with the heirloom coins once they become adults.”
HENRY289,166 просмотров • 2 месяцев назад
Caller: “My boyfriend makes $250K yearly, and he says he won't marry me until I've paid off all my debt. I'm feeling a lot of pressure because I'm struggling to get it all paid off on my own, and I'm just looking for advice on how to handle this ultimatum.” Dave Ramsey: “He’s doing you a massive favor.” Dave Ramsey: “Marriage is a legal and financial union. If you bring a mountain of debt into a marriage, you aren't just bringing your baggage; you’re shackling your future partner to your financial mistakes before you’ve even started.” “Don’t look at this as an ultimatum; look at it as a standard. You should want to be financially healthy before you walk down that aisle, not just for him, but for the foundation of your future family.” “If you can’t get your act together and clear this debt now, you aren’t ready for the responsibilities of marriage. Take this time to get gazelle-intense, clear the slate, and enter your marriage as a partner who is bringing total financial freedom to the table.”
HENRY217,781 просмотров • 2 месяцев назад
Caller: “I own a business and have managed to save $6.5 to $7 million in liquid cash, but I’m nervous about the market. Should I invest in the stock market, or should I go towards real estate?” Dave Ramsey: “You’ve got to get that invested because you’re making 1% on it.. that’s mathematically lazy. That money is not lifting as much as it should be lifting.” Dave Ramsey: “You are obviously very, very good at running your business. Why don’t you buy some more drugstores?” “You may not want the hassle or the stress of running more stores, but as a business person, you understand that small businesses generally give a much better rate of return than real estate or the stock market.” “If you can handle the stress, opening more locations or investing in commercial real estate like a well-placed small office building or strip center is a much better use of that capital than leaving it in cash.”
HENRY191,161 просмотров • 2 месяцев назад
Caller: “I’m married to a self-made millionaire, but I feel like I’m just an employee in his life. I put my career on hold to help him with his businesses and his personal things. We have a prenup, and nothing is in my name. I feel like we’re never going to build anything together, and he makes me feel like I’m spoiled and entitled.” Dave Ramsey: “You know why you feel this way? Because it’s the truth.” John Delony: “It’s the gaslighter special. When you say you aren’t doing okay, and they say you should go see somebody.. you’re not crazy.” Dave Ramsey: “He’s acting like a daddy. You’re acting like a daughter/employee.” “You need to go get a job somewhere else and find a marriage counselor. If he won’t go, go without him.” “Stop working for him. You have the skills to earn $50K on your own, go find an independent path so you can actually build a life that belongs to both of you, not just one.”
HENRY143,806 просмотров • 2 месяцев назад
Caller: “I inherited $1.5 million, should I sign a prenuptial agreement?” Dave Ramsey: “If you’re asking the question, you already know the answer. Yes.” Dave Ramsey: “You’re talking about blending a significant amount of assets into a marriage. A prenuptial agreement isn’t about expecting the marriage to fail; it’s about having a clear, mature plan for your future.” “When you have $1.5 million at stake, you need to protect that foundation. It allows you to enter the marriage with total peace of mind, knowing that your financial future is secure and clearly defined.” “Don’t let the awkwardness of the conversation stop you. If this person is the right one, they will understand that being responsible with your financial blessings is part of who you are.”
HENRY115,129 просмотров • 2 месяцев назад
Caller: “Last night my mother gifted me $53,000, and I’m wondering if I should put that toward my mortgage, which is currently $215,000 at a 2.5% interest rate. My concern is that my parents have not saved well, but they recently inherited over a million dollars and are already spending more per month than they bring in. I'm worried about their future financial stability.” Dave Ramsey: “She’s going to get hammered with gift tax unless she’s got some estate planning going on. Individual can give an individual $19,000 before you get into gift tax of 55%.” “They are about to get their butts kicked in an audit. Really bad. Because they didn’t learn what they were doing. Out of a million, if they gave you $53,000, they are probably okay. I’d put it on my mortgage.” Jade Warshaw: “You’re worried that they’re gonna come knocking on your door when they blow through all this money.” Dave Ramsey: “If your house is paid off because you use this to accelerate the payoff, then when they are in trouble someday, you’ll be in a better position to help them. So I’d put it on the house.”
HENRY122,951 просмотров • 2 месяцев назад
Caller: “We just got a $2 million inheritance. I’m feeling a little overwhelmed by it, and I’ve got all kinds of financial people trying to tell me to do this and that. My head’s spinning, to be honest. We’re already millionaires, but this just happened, my husband retired, and we just want to be wise.” Dave Ramsey: “Rule number one: Slow down. Going fast is bad, going slow is good. There’s no rush, and there’s no one in a hurry.. a tornado is not coming, you’re fine.” “Number two: Don’t put money in anything you don’t understand. It’s your job to understand it. But guess what? You were already a millionaire, so you already understand how to manage wealth.” “Three: Do not work with anyone in any field, anywhere in the financial world, unless they have the heart of a teacher. The sharks that are circling right now don’t have the heart of a teacher.. get rid of them.”
HENRY100,828 просмотров • 2 месяцев назад
Caller: “I recently inherited a large sum of money approximately $50 million. I’m just wondering, what do you think I should do with this?” Dave Ramsey: “You’re not kidding me.” Caller: “No, I’m not kidding you.” Dave Ramsey: “Who in the world left you $50 million?” Caller: “My parents.” Dave Ramsey: “The thing that I do and that I teach people to do with all of their income, including an unbelievable sum like this, is to balance and use ratios between living, enjoying some of it, giving some of it, and investing some of it.” “You should sit down and think in ratios. How much do I want to systematically give? Wealthy people who give are the ones that have fun with money.” “Spend some of it… I’m not going to suggest you stack it all in a cave somewhere but don’t let it be a large percentage. Then, invest a percentage for the next generation, and create income to do even yet more giving.”
HENRY95,612 просмотров • 2 месяцев назад
"What is the point of Bitcoin at this point?" 📉🤔 Nick O’Neill doesn't hold back on the state of the market. It’s not acting as a store of value, it’s completely un-correlating from tech stocks while they rip, and the Michael Saylor/MicroStrategy catalyst is flipping negative. If the tech is slow and the OG narrative is shifting, what's the actual thesis for holding?
HENRY98,388 просмотров • 2 месяцев назад
Caller: “I’m in a relationship with my girlfriend who just graduated last year, and she’s going to bring about $350,000 worth of student loans into our marriage. I’m just curious what your advice would be in regards to how we can plan to make those repayments once we get married, as well as how we would prioritize that against other large life purchases such as a house and vehicles.” Dave Ramsey: “The number one cause of divorce in North America is money fights and money problems, money stress. You are walking into a mess. She has made an unbelievably large mess.” “This is a program to be managed. The deeper you sacrifice in hours of work and in lack of lifestyle, the faster this mess goes away.” “Both of you are going to be working like maniacs, you’re going to live on nothing, you’re going to drain every account that’s not a retirement account, and you’re going to throw it at this after the honeymoon.”
HENRY54,696 просмотров • 2 месяцев назад
"Put your nuts on the table, boy..." 💀🔥 Nick O’Neill isn't holding back on Michael Saylor changing the rules on MicroStrategy. If the "never sell" mantra was real, why dump the stock? “Sell a billion dollars of Bitcoin and let's see how the market actually reacts.” "I think they're about to get smashed."
HENRY37,977 просмотров • 2 месяцев назад
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