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Caller: Dave, I’m 54, recently widowed, retired. $8 million net worth, $7 million invested, up over 16% last year. I want a $75,000 quarter horse for reining plus about $45,000 a year to keep it. My advisor says wait and let the portfolio grow. Am I being reckless? Dave:... I don’t know why your financial advisor even gets a vote. Caller: He thinks I should be more conservative after losing my husband. Dave: You’re about to take $150,000, throw it in the middle of the floor, and set it on fire. That’s what a horse is. Ridiculous consumption. Caller: So I shouldn’t? Dave: If you’ve got $7 million, you can do that. You can afford it. Buy the horse. Caller: It won’t hurt me long-term? Dave: A one-time $75k plus the upkeep is a rounding error on what that portfolio is throwing off. You’re fine. Pay off the leftover $140k mortgage while you’re at it and simplify your life. Then go ride. Just don’t buy the horse to medicate the grief. Buy it because you actually want the horse. Your advisor should be a teacher, not your dad.show more

Bradson

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7,604,299 Aufrufe • vor 13 Tagen •via X (Twitter)

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36 Kommentare

Profilbild von David Rahnis

David Rahnisvor 11 Tagen

It's because her financial advisor knows this is just the beginning of her blowing the entire $8m.

Profilbild von Sean Olson

Sean Olsonvor 11 Tagen

Dave has NEVER suggested “helping the kids” or “generational wealth” as financial advice. People should take careful note of this.

Profilbild von Jerry Rogaine

Jerry Rogainevor 11 Tagen

Guaranteed it was the husband’s $8 million and he warned the advisor to keep an eye on his wife’s reckless spending before he passed

Profilbild von _Chase😈

_Chase😈vor 13 Tagen

Great advice Dave

Profilbild von Bradson

Bradsonvor 13 Tagen

As usual from Dave

Profilbild von Gen X RN

Gen X RNvor 11 Tagen

A 54 year old is not a boomer.

Profilbild von Mr.Indo Jin

Mr.Indo Jinvor 11 Tagen

Did she tell her net worth was $20 million 2 years back ? 😂

Profilbild von sixtiesbeat

sixtiesbeatvor 12 Tagen

I love how he screens his callers to create the impression that Prosperity Gospel actually works.

Profilbild von BigJimFish47

BigJimFish47vor 11 Tagen

You ever notice the caller is never a family of four with median income and a health problem trying to afford a place with decent schools? It’s all wealth porn and people with massive incomes and self created spending problems.

Profilbild von Jitter

Jittervor 11 Tagen

Dave, I am worth one trillion, can I buy myself a Starbucks 🤡

Profilbild von donna walko

donna walkovor 12 Tagen

She might as well burn the $! It’s the truth. I’ve seen multi millionaires cut their wealth by half (and more) for the “love” of horses. On a positive note, she’ll be remembered for generations… not in a good way.

Profilbild von Wasi

Wasivor 11 Tagen

That's Gen X not boomer dummy

Profilbild von Manpreet

Manpreetvor 11 Tagen

Nepo baby with Dave

Profilbild von MindlessCraker

MindlessCrakervor 11 Tagen

Boomers are the worst. She’ll die with millions and leave it to a random church and none to her family

Profilbild von Numenorean Blacksmith

Numenorean Blacksmithvor 11 Tagen

This is why the "fee only" guys acting like they are better is dumb. In fact if you're skeezy fee only gives you way more plausible deniability. Every form of compensation is potentially bad for the client, integrity is what matters.

Profilbild von Jon Oyler

Jon Oylervor 12 Tagen

Boat logic as well why buy the boat just rent it

Profilbild von JoelBriden

JoelBridenvor 11 Tagen

Horses live 30 years. That’s 1.5 million in upkeep cost before inflation

Profilbild von Bradson

Bradsonvor 13 Tagen

Ft @DaveRamsey

Profilbild von Aryan Diablo

Aryan Diablovor 11 Tagen

I hate every person in this clip

Profilbild von Tater

Tatervor 11 Tagen

The financial advisor wants to maximize his commission. $8mil is plenty

Profilbild von murk

murkvor 11 Tagen

everyone involved in this should die

Profilbild von Tony Johnson

Tony Johnsonvor 11 Tagen

Why does your write up of the conversation not match what the audio is? It’s not 100% made up, but there are parts you left out and parts you pulled out of thin air

Profilbild von Andrew: 2025 Powerball winner*

Andrew: 2025 Powerball winner*vor 11 Tagen

It absolutely will hurt her long term. The financial advisor is correct.

Profilbild von Dark Star 🔥

Dark Star 🔥vor 11 Tagen

This is bullshite, staged caller.

Profilbild von Y'all fucked around, now find out!

Y'all fucked around, now find out!vor 11 Tagen

Uh, isn't Dave being her Dad in the other direction? Literally telling her what to do lol

Profilbild von ✝️Crostor

✝️Crostorvor 11 Tagen

@Devan820923 😢 54 and still winning with that portfolio? Damn.

Profilbild von King Cesar

King Cesarvor 11 Tagen

He should’ve asked for one other piece of information before giving advice: how much is she pulling from the portfolio annually? The advisor might have context he does not have.

Profilbild von Midastouch112

Midastouch112vor 11 Tagen

Omg rent the damn horse. I love golf but I’m not buying a golf membership when I can play different courses or same courses for way less than the membership.

Profilbild von No Blue CheckMARK

No Blue CheckMARKvor 11 Tagen

She has $8 million because she hasn’t spent a lifetime making retarded decisions like spending 75k on a horse.

Profilbild von Joshua Block

Joshua Blockvor 11 Tagen

I love how the spiritual Dave Ramsey gets when it comes to debt, and then when these types of people call it has nothing to do with his respons

Profilbild von CowBoiler

CowBoilervor 11 Tagen

I wanna clean stalls at the facility that costs $45k to upkeep one horse per year

Profilbild von Artificial.Nightmares

Artificial.Nightmaresvor 11 Tagen

She's buying a horse... I'm buying $TSLA CALLS...

Profilbild von 🥥🌴

🥥🌴vor 11 Tagen

He stole her money, there's nothing there.

Profilbild von TheTerryGantnerWay

TheTerryGantnerWayvor 11 Tagen

$75K for a quarter horse?

Profilbild von Sam Flood

Sam Floodvor 11 Tagen

Lady, spend $75k anyway you want to lol

Profilbild von Horace Kent

Horace Kentvor 11 Tagen

Boomers suck ass

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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.”

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95,612 Aufrufe • vor 3 Monaten

A woman asked Dave Ramsey if she should split her inheritance with the sister their mother left out of the will Caller: I have an inheritance, and my sister was left out of the will. Dave Ramsey: Whoa… why? Caller: I think there’s been conflict along the years that never got resolved. My mom was very strong-willed, and she just had enough. Dave Ramsey: So your mom was not in a relationship with your sister, and chose not to leave her anything as a result? Caller: Exactly. Dave Ramsey: Well, that sounds reasonable. Caller: Oh wow, okay. Dave Ramsey: Why would your mom leave something to somebody that doesn’t speak to her? Caller: She said, “Are you going to split this with me? I just want to know. Because if you’re not, that means you agree with Mom.” George Kamel: We’re not taking that guilt trip. No, thank you. That’s on her. Dave Ramsey: You not giving her money is not cutting the relationship off. She is choosing to cut the relationship off. Caller: Oh, that makes sense. Dave Ramsey: You didn’t choose. She chose. I’m sorry, it hurts, though. Dave Ramsey: She’s not really interested in a relationship with you. She’s just interested in money. Am I wrong? Caller: You’re spot on. Dave Ramsey: It still hurts because it’s your sister. But you didn’t cause any of it.

A woman asked Dave Ramsey if she should split her inheritance with the sister their mother left out of the will Caller: I have an inheritance, and my sister was left out of the will. Dave Ramsey: Whoa… why? Caller: I think there’s been conflict along the years that never got resolved. My mom was very strong-willed, and she just had enough. Dave Ramsey: So your mom was not in a relationship with your sister, and chose not to leave her anything as a result? Caller: Exactly. Dave Ramsey: Well, that sounds reasonable. Caller: Oh wow, okay. Dave Ramsey: Why would your mom leave something to somebody that doesn’t speak to her? Caller: She said, “Are you going to split this with me? I just want to know. Because if you’re not, that means you agree with Mom.” George Kamel: We’re not taking that guilt trip. No, thank you. That’s on her. Dave Ramsey: You not giving her money is not cutting the relationship off. She is choosing to cut the relationship off. Caller: Oh, that makes sense. Dave Ramsey: You didn’t choose. She chose. I’m sorry, it hurts, though. Dave Ramsey: She’s not really interested in a relationship with you. She’s just interested in money. Am I wrong? Caller: You’re spot on. Dave Ramsey: It still hurts because it’s your sister. But you didn’t cause any of it.

‏ً

78,146 Aufrufe • vor 2 Monaten

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Caller: “My daughters just graduated college. We used student loans to get them through. We’ve got about $180K left on our mortgage, and I’ve got a brokerage account with about $200K in it. My wife and I are thinking… should we just cash it out, clear the $125K student loans, and put the rest toward the mortgage?” Dave Ramsey: “How much student loan debt are we talking?” Caller: “About $125K total, between two kids.” Dave Ramsey: “And you’ve got $200K sitting in the brokerage account?” Caller: “Yes.” Dave Ramsey: “Yeah… I’d liquidate that today.” Dave Ramsey: “You don’t have $200K invested while carrying $125K in debt. That doesn’t make sense.” Caller: “So you’d pay it all off?” Dave Ramsey: “Absolutely. You’d be debt-free except the house.” Dave Ramsey: “Then you rebuild properly. Emergency fund first, then attack the mortgage. But you don’t keep borrowing money at one rate while trying to invest at another. That spread you think you’re making… it’s not worth the risk.”

KΞRL_✂️

559,375 Aufrufe • vor 4 Monaten

Caller: “I’m 19, Is This $500,000 Purchase A Good Decision” Caller: I'm 19, getting married next year, and I have a $118,000 net worth with no debt. It includes investments, savings, and two paid-off vehicles. Dave Ramsey: Wow. How'd you do that at 19? Caller: I'm a welder making about $55,000 a year. I started welding at 16 through a school program and went full-time after high school. My grandfather is 72 and wants to retire. He's offering me his $1.1 million farm for $500,000, plus about $100,000 in equipment over time. He wants $50,000 down and a 15-year land contract at 1.2% interest. The farm brings in about $30,000 a year, so I'd only need to cover $500–$1,000 a month myself, and I hope to pay it off within 5–10 years. With my wedding next year, I want to know if it's a smart financial move. Co-Host: Do you actually want to farm, or do you want to keep welding? Caller: I want to own the farm but keep my welding job. It's a 100-acre farm with a house, and I just want to be sure it won't put me in a bad financial position. Dave Ramsey: Where do you live now? Caller: With my parents, but I'll get married next year. Dave Ramsey: Will your wife work? Caller: Yes. She'll make about $45,000, so together we'll earn around $100,000. Dave Ramsey: You'll live on the farm then.What does your family think about you buying it for less than half its value? Caller: They're not interested. Dave Ramsey: You're buying a $1.1–$1.2 million property for $500,000? I'd take that deal,but I'd make one change: don't use a land contract. With a land contract, the deed stays in your grandfather's name until it's fully paid off. If he's sued or a lien is placed on the property before then, you could lose the farm even if you've been making payments. Get the deed transferred properly from the start.

Caller: “I’m 19, Is This $500,000 Purchase A Good Decision” Caller: I'm 19, getting married next year, and I have a $118,000 net worth with no debt. It includes investments, savings, and two paid-off vehicles. Dave Ramsey: Wow. How'd you do that at 19? Caller: I'm a welder making about $55,000 a year. I started welding at 16 through a school program and went full-time after high school. My grandfather is 72 and wants to retire. He's offering me his $1.1 million farm for $500,000, plus about $100,000 in equipment over time. He wants $50,000 down and a 15-year land contract at 1.2% interest. The farm brings in about $30,000 a year, so I'd only need to cover $500–$1,000 a month myself, and I hope to pay it off within 5–10 years. With my wedding next year, I want to know if it's a smart financial move. Co-Host: Do you actually want to farm, or do you want to keep welding? Caller: I want to own the farm but keep my welding job. It's a 100-acre farm with a house, and I just want to be sure it won't put me in a bad financial position. Dave Ramsey: Where do you live now? Caller: With my parents, but I'll get married next year. Dave Ramsey: Will your wife work? Caller: Yes. She'll make about $45,000, so together we'll earn around $100,000. Dave Ramsey: You'll live on the farm then.What does your family think about you buying it for less than half its value? Caller: They're not interested. Dave Ramsey: You're buying a $1.1–$1.2 million property for $500,000? I'd take that deal,but I'd make one change: don't use a land contract. With a land contract, the deed stays in your grandfather's name until it's fully paid off. If he's sued or a lien is placed on the property before then, you could lose the farm even if you've been making payments. Get the deed transferred properly from the start.

Jeff

258,052 Aufrufe • vor 2 Monaten

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.”

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.”

HENRY

309,681 Aufrufe • vor 4 Monaten

Caller: “We’re retired and we don’t have enough for groceries” Caller: We’re both retired, 65 and 70. We have a paid off home and vehicles, but we’re struggling to buy groceries because we’re carrying $35,000 to $40,000 in credit card debt. Dave: What income do you have? Caller: Social Security and small pensions. We’re also working part time, but it’s not much. Dave: How much are you making combined? Caller: Maybe $3,000 a month total. Dave: On $3,000 a month with $35,000-$40,000 in debt, you need to get serious. First rule, the Four Walls. Food, shelter, utilities, transportation come before credit cards. Caller: So we don’t pay the credit cards first? Dave: No. You feed yourselves first. Only pay the credit cards with what’s left over. Caller: But the credit card companies call constantly. Dave: Tell them you’re paying what you can. Your survival comes first. Caller: What else can we do? Dave: You’re both just 65 and 75, get a job. Caller: We’re pretty tired from working all our lives. Dave: I understand. But you’re in a crisis. Working full time for 2-3 years would let you attack this debt aggressively and build a safety net. Caller: That’s a lot to ask at our age. Dave: It is. But the alternative is struggling for decades. Download EveryDollar and budget every dollar. Make sure you’re actually living on $3,000. Caller: And after we pay off the debt? Dave: Build a 3-6 month emergency fund so unexpected expenses don’t put you back into debt. Caller: This feels overwhelming. Dave: I know. But you own your home. You own your vehicles. You have income. You can do this, it just requires intensity for a season.

Caller: “We’re retired and we don’t have enough for groceries” Caller: We’re both retired, 65 and 70. We have a paid off home and vehicles, but we’re struggling to buy groceries because we’re carrying $35,000 to $40,000 in credit card debt. Dave: What income do you have? Caller: Social Security and small pensions. We’re also working part time, but it’s not much. Dave: How much are you making combined? Caller: Maybe $3,000 a month total. Dave: On $3,000 a month with $35,000-$40,000 in debt, you need to get serious. First rule, the Four Walls. Food, shelter, utilities, transportation come before credit cards. Caller: So we don’t pay the credit cards first? Dave: No. You feed yourselves first. Only pay the credit cards with what’s left over. Caller: But the credit card companies call constantly. Dave: Tell them you’re paying what you can. Your survival comes first. Caller: What else can we do? Dave: You’re both just 65 and 75, get a job. Caller: We’re pretty tired from working all our lives. Dave: I understand. But you’re in a crisis. Working full time for 2-3 years would let you attack this debt aggressively and build a safety net. Caller: That’s a lot to ask at our age. Dave: It is. But the alternative is struggling for decades. Download EveryDollar and budget every dollar. Make sure you’re actually living on $3,000. Caller: And after we pay off the debt? Dave: Build a 3-6 month emergency fund so unexpected expenses don’t put you back into debt. Caller: This feels overwhelming. Dave: I know. But you own your home. You own your vehicles. You have income. You can do this, it just requires intensity for a season.

Lin

102,897 Aufrufe • vor 2 Monaten

Caller: My mom promised to pay my student debt after school is it’s been three years now and she’s not getting it done and anytime i ask her she gets emotional about it Dave: how much do you earn? Caller: I earn about $100k Dave: Try and pay it off, your mom doesn’t care so try and pay it, how many months can you pay it off? Caller: I’ve about $20k in savings, $20k in investment and i live in NY my monthly expenditure is about $4k Dave: Great! you’re doing well for yourself, now don’t listen to any promises she makes and don’t be angry at her too much but the truth is she just doesn’t care You really think she doesn’t care? or she just doesn’t have the means anymore? You’re making over $100k why don’t you settle it yourself more of a gift to your mom? shame

Caller: My mom promised to pay my student debt after school is it’s been three years now and she’s not getting it done and anytime i ask her she gets emotional about it Dave: how much do you earn? Caller: I earn about $100k Dave: Try and pay it off, your mom doesn’t care so try and pay it, how many months can you pay it off? Caller: I’ve about $20k in savings, $20k in investment and i live in NY my monthly expenditure is about $4k Dave: Great! you’re doing well for yourself, now don’t listen to any promises she makes and don’t be angry at her too much but the truth is she just doesn’t care You really think she doesn’t care? or she just doesn’t have the means anymore? You’re making over $100k why don’t you settle it yourself more of a gift to your mom? shame

_Chase😈

81,292 Aufrufe • vor 4 Monaten

Caller: I'm a 58-year-old single guy, getting tired of working. I'm trying to get to retirement, I make $75,000 and nothing saved. I need to know what I should do to get there. Dave Ramsey: What do you do? Caller: I'm a trim carpenter. I trim high-end houses and build some custom cabinets as well. Jade Warshaw: Do you have any debt? Caller: I've got about $25,000 worth of mortgage and a $20,000 auto loan. Dave Ramsey: Why have you saved no money? Caller: I was married to a spender, and at the age of 50, got divorced, and I walked away with zero dollars. Dave Ramsey: That was eight years ago. Why have you saved no money in the last eight years? Caller: Well, getting back on my feet, I ended up buying a house. That's where the mortgage comes in. I've got $25,000 left on that. Jade Warshaw: So is that where your extra money was going, paying down that mortgage? What did it start as? Caller: Paying down the mortgage. It was a bank-owned property. I got it for a song in a great neighborhood. I put a fair amount of money into it, and that's where most of my money went. Dave Ramsey: And you bought a truck? Caller: No. I have a truck that's paid for. Dave Ramsey: What's the $20,000 vehicle? Caller: I know you're into cars, Dave. It's not a car. It's a motorcycle. It's a Harley-Davidson. Jade Warshaw: Well, we've got to get rid of that. Caller: I knew that was the first thing you were going to tell me to get rid of. Dave Ramsey: Yeah, that bike has to go. You did great on the house, but the motorcycle was a mistake. If we get you on an EveryDollar budget and you pick up extra work, you can save $2,000 a month. Over 10 years, that $24,000 a year will grow to about half a million dollars. By age 67, you’ll have $500,000 and a completely paid-for house. Caller: Okay. I do have about $23,000 in cash. Dave Ramsey: Well, then you've got your emergency fund in place. Jade Warshaw: That's great! Caller: I do have the emergency fund, right. I also have a term life insurance policy that's $100 a month for half a million dollars. Should I keep that, or is there a way to convert that to something else? Dave Ramsey: I wouldn't convert. It's just like, "I have homeowner's insurance and I don't have a home anymore, do I need it?" No, you don't. Because there's no one counting on you, it sounds like, for your income. Caller: No. Dave Ramsey: And the house is worth more than you owe on it. Do you have children? Caller: I've got three. They're grown. Dave Ramsey: Okay, so if you die, they sell the house and pay the funeral, right? Caller: Correct. Jade Warshaw: Let it lapse. Dave Ramsey: Yeah, I would close that out because you need that extra $100 a month toward our $2,000 a month goal. So, what I'm going to do is sit down and do a budget, and I'm going to come up with $2,000 a month. I'm going to sit down with a SmartVestor Pro, and I'm going to fill up Roth IRAs, Simple IRAs, and whatever else you can do as a self-employed person. The great news is, as a trim carpenter in high-end properties, you are in great demand. You've always had more work than you can take on. And so if you want to jack it up and make some extra money for a little while, you can do that. I'm always less tired when I don't feel like a hamster in a wheel, when I'm actually getting traction. Part of what's making you tired is you feel stuck.

Caller: I'm a 58-year-old single guy, getting tired of working. I'm trying to get to retirement, I make $75,000 and nothing saved. I need to know what I should do to get there. Dave Ramsey: What do you do? Caller: I'm a trim carpenter. I trim high-end houses and build some custom cabinets as well. Jade Warshaw: Do you have any debt? Caller: I've got about $25,000 worth of mortgage and a $20,000 auto loan. Dave Ramsey: Why have you saved no money? Caller: I was married to a spender, and at the age of 50, got divorced, and I walked away with zero dollars. Dave Ramsey: That was eight years ago. Why have you saved no money in the last eight years? Caller: Well, getting back on my feet, I ended up buying a house. That's where the mortgage comes in. I've got $25,000 left on that. Jade Warshaw: So is that where your extra money was going, paying down that mortgage? What did it start as? Caller: Paying down the mortgage. It was a bank-owned property. I got it for a song in a great neighborhood. I put a fair amount of money into it, and that's where most of my money went. Dave Ramsey: And you bought a truck? Caller: No. I have a truck that's paid for. Dave Ramsey: What's the $20,000 vehicle? Caller: I know you're into cars, Dave. It's not a car. It's a motorcycle. It's a Harley-Davidson. Jade Warshaw: Well, we've got to get rid of that. Caller: I knew that was the first thing you were going to tell me to get rid of. Dave Ramsey: Yeah, that bike has to go. You did great on the house, but the motorcycle was a mistake. If we get you on an EveryDollar budget and you pick up extra work, you can save $2,000 a month. Over 10 years, that $24,000 a year will grow to about half a million dollars. By age 67, you’ll have $500,000 and a completely paid-for house. Caller: Okay. I do have about $23,000 in cash. Dave Ramsey: Well, then you've got your emergency fund in place. Jade Warshaw: That's great! Caller: I do have the emergency fund, right. I also have a term life insurance policy that's $100 a month for half a million dollars. Should I keep that, or is there a way to convert that to something else? Dave Ramsey: I wouldn't convert. It's just like, "I have homeowner's insurance and I don't have a home anymore, do I need it?" No, you don't. Because there's no one counting on you, it sounds like, for your income. Caller: No. Dave Ramsey: And the house is worth more than you owe on it. Do you have children? Caller: I've got three. They're grown. Dave Ramsey: Okay, so if you die, they sell the house and pay the funeral, right? Caller: Correct. Jade Warshaw: Let it lapse. Dave Ramsey: Yeah, I would close that out because you need that extra $100 a month toward our $2,000 a month goal. So, what I'm going to do is sit down and do a budget, and I'm going to come up with $2,000 a month. I'm going to sit down with a SmartVestor Pro, and I'm going to fill up Roth IRAs, Simple IRAs, and whatever else you can do as a self-employed person. The great news is, as a trim carpenter in high-end properties, you are in great demand. You've always had more work than you can take on. And so if you want to jack it up and make some extra money for a little while, you can do that. I'm always less tired when I don't feel like a hamster in a wheel, when I'm actually getting traction. Part of what's making you tired is you feel stuck.

Traeyz ♠️

425,326 Aufrufe • vor 2 Monaten

Caller: “ My husband makes $975,000 and won’t let me stay at home” Caller: Hi Dave. I’m on maternity leave until February and I’d love to stay home to raise our baby instead of going back to work. But I’m not sure how to bring it up with my husband. Dave: What does he do, and what were you making? Caller: He’s an investment advisor, makes around $975,000 a year. I was making about $90,000. Dave: So your $90,000 isn’t a financial necessity, this is purely a conversation about values. What’s his hesitation? Caller: He’s worried I’ll never go back to the workforce. His mom had to work three jobs raising him, so I think it runs deep. Dave: That context matters. This isn’t really about money for him, it’s fear rooted in his upbringing. So don’t lead with finances. Lead with your heart. Tell him what raising your child means to you and what kind of mother you want to be

Caller: “ My husband makes $975,000 and won’t let me stay at home” Caller: Hi Dave. I’m on maternity leave until February and I’d love to stay home to raise our baby instead of going back to work. But I’m not sure how to bring it up with my husband. Dave: What does he do, and what were you making? Caller: He’s an investment advisor, makes around $975,000 a year. I was making about $90,000. Dave: So your $90,000 isn’t a financial necessity, this is purely a conversation about values. What’s his hesitation? Caller: He’s worried I’ll never go back to the workforce. His mom had to work three jobs raising him, so I think it runs deep. Dave: That context matters. This isn’t really about money for him, it’s fear rooted in his upbringing. So don’t lead with finances. Lead with your heart. Tell him what raising your child means to you and what kind of mother you want to be

_Chase😈

393,008 Aufrufe • vor 3 Monaten

Caller: I am 35, married with a kid and a second on the way. I have $1.8 million in debt total. Dave Ramsey: Good Lord. Caller: I live in Montreal, which is the third most expensive city in Canada, and I work as a nurse, which is the cheapest paid in the whole of Canada. Dave Ramsey: What is the 1.8 million on? I hope it's just your real estate. Caller: I have a triplex which I owe about $680,000 on, and my family home which I owe $590,000 on. Dave Ramsey: What's the triplex worth? Caller: The triplex is worth about $850,000. I'm trying to get $950,000 on it, but I don't know if I should lower the price. Dave Ramsey: So you've got it up for sale. And what is your home worth? Caller: My home is worth about $750,000. Dave Ramsey: Okay, that's not all of it. Caller: No, it's not. I have two Hondas which I owe close to $70,000 on each. I have $350,000 of personal debt, and $35,000 of credit card and student loans. Dave Ramsey: What is your $350,000 of personal debt? Caller: It was loaned to me mostly by my cousin, both as a down payment for the house as well as to renovate the house and the triplex. Dave Ramsey: Wow. And what's your household income? Caller: Around $110,000 to $120,000 before tax. Dave Ramsey: You owe $70,000 each on two Hondas? Caller: Yes. Dave Ramsey: So they're not worth 70? Caller: No, they're fairly new, but they're electric. We got them because we would be saving $500 in gas per car. Dave Ramsey: Yeah, that makes a difference when you're $2 million in debt. That's a big deal. Not! How can we help, hon? Caller: I had my aha moment when I saw $22,000 going out in one month after doing a budget, and I don't know what exactly to do. I tried to get my wife on board. She says she'll get rid of everything besides the house and the cars. I cut out everything from potato chips to haircuts, literally anything I could to curb the expenses. I wish I could do more jobs a day, but my doctor says that because I'm bipolar, I need to have a healthy work-life balance. And my wife is going on maternity leave in 12 weeks. Rachel Cruze: How much of her salary is the 120? Caller: She makes about $66,000. Rachel Cruze: So half of it. Is that paid maternity leave? Caller: She gets 70% paid. Rachel Cruze: For how long? Caller: For a year. Rachel Cruze: And how much are these car payments a month? Caller: Just under 750 each. Dave Ramsey: I think we need to have a different discussion at your kitchen table. It's not like, "what will she go along with?" She's one of the adults here too. The two of you need to sit down, look at this and go, "In 10 years, where do we want to be?" I'm collapsing under the weight of this. This is killing me, and it's aggravating your bipolar because your stress level is through the roof. It's not a matter of keeping a princess happy. The princess gets to grow up and be a woman.

Caller: I am 35, married with a kid and a second on the way. I have $1.8 million in debt total. Dave Ramsey: Good Lord. Caller: I live in Montreal, which is the third most expensive city in Canada, and I work as a nurse, which is the cheapest paid in the whole of Canada. Dave Ramsey: What is the 1.8 million on? I hope it's just your real estate. Caller: I have a triplex which I owe about $680,000 on, and my family home which I owe $590,000 on. Dave Ramsey: What's the triplex worth? Caller: The triplex is worth about $850,000. I'm trying to get $950,000 on it, but I don't know if I should lower the price. Dave Ramsey: So you've got it up for sale. And what is your home worth? Caller: My home is worth about $750,000. Dave Ramsey: Okay, that's not all of it. Caller: No, it's not. I have two Hondas which I owe close to $70,000 on each. I have $350,000 of personal debt, and $35,000 of credit card and student loans. Dave Ramsey: What is your $350,000 of personal debt? Caller: It was loaned to me mostly by my cousin, both as a down payment for the house as well as to renovate the house and the triplex. Dave Ramsey: Wow. And what's your household income? Caller: Around $110,000 to $120,000 before tax. Dave Ramsey: You owe $70,000 each on two Hondas? Caller: Yes. Dave Ramsey: So they're not worth 70? Caller: No, they're fairly new, but they're electric. We got them because we would be saving $500 in gas per car. Dave Ramsey: Yeah, that makes a difference when you're $2 million in debt. That's a big deal. Not! How can we help, hon? Caller: I had my aha moment when I saw $22,000 going out in one month after doing a budget, and I don't know what exactly to do. I tried to get my wife on board. She says she'll get rid of everything besides the house and the cars. I cut out everything from potato chips to haircuts, literally anything I could to curb the expenses. I wish I could do more jobs a day, but my doctor says that because I'm bipolar, I need to have a healthy work-life balance. And my wife is going on maternity leave in 12 weeks. Rachel Cruze: How much of her salary is the 120? Caller: She makes about $66,000. Rachel Cruze: So half of it. Is that paid maternity leave? Caller: She gets 70% paid. Rachel Cruze: For how long? Caller: For a year. Rachel Cruze: And how much are these car payments a month? Caller: Just under 750 each. Dave Ramsey: I think we need to have a different discussion at your kitchen table. It's not like, "what will she go along with?" She's one of the adults here too. The two of you need to sit down, look at this and go, "In 10 years, where do we want to be?" I'm collapsing under the weight of this. This is killing me, and it's aggravating your bipolar because your stress level is through the roof. It's not a matter of keeping a princess happy. The princess gets to grow up and be a woman.

Traeyz ♠️

1,772,141 Aufrufe • vor 3 Monaten

Caller: “I’m 73 with student loans and no Retirement, what should i do?” Caller: I’m 73 and planning to retire at 76. I have no savings, no retirement accounts, and I’m carrying $12,000 in student loan debt. Dave: What’s your current income and expenses? Caller: I make $4,500 a month. Rent is $2,000, student loans are $2,000, and living expenses are $500. Dave: So you’re breaking even, that’s actually workable. When will the student loans be paid off? Caller: Somewhere in March Dave: Okay. Do you have any life insurance with cash value? Robin: I have a Universal Life policy with about $9,000 cash value. Dave: Cash it out today and pay off the student loans immediately. No more $2,000 monthly payments. Robin: And then what? Dave: For the next three years until you’re 76, live on beans and rice. Every dollar beyond survival goes toward building an emergency fund and saving for a down payment on a very modest home. Caller: Should I buy or rent after I retire? Dave: Buy. Rent prices rise forever, you lock in a fixed mortgage payment now and it stays the same for 20 plus years on a fixed income. That’s stability. Caller: On my income, can I actually do this? Dave: It’ll be tight, but yes. You’ll find a modest home, put down what you’ve saved, and have a paid off or nearly paid off house by 76. George: And Robin, you’re a victim of a broken system. The narrative that a degree guarantees success pushed you into $12,000 of debt. That’s the real problem here.

Caller: “I’m 73 with student loans and no Retirement, what should i do?” Caller: I’m 73 and planning to retire at 76. I have no savings, no retirement accounts, and I’m carrying $12,000 in student loan debt. Dave: What’s your current income and expenses? Caller: I make $4,500 a month. Rent is $2,000, student loans are $2,000, and living expenses are $500. Dave: So you’re breaking even, that’s actually workable. When will the student loans be paid off? Caller: Somewhere in March Dave: Okay. Do you have any life insurance with cash value? Robin: I have a Universal Life policy with about $9,000 cash value. Dave: Cash it out today and pay off the student loans immediately. No more $2,000 monthly payments. Robin: And then what? Dave: For the next three years until you’re 76, live on beans and rice. Every dollar beyond survival goes toward building an emergency fund and saving for a down payment on a very modest home. Caller: Should I buy or rent after I retire? Dave: Buy. Rent prices rise forever, you lock in a fixed mortgage payment now and it stays the same for 20 plus years on a fixed income. That’s stability. Caller: On my income, can I actually do this? Dave: It’ll be tight, but yes. You’ll find a modest home, put down what you’ve saved, and have a paid off or nearly paid off house by 76. George: And Robin, you’re a victim of a broken system. The narrative that a degree guarantees success pushed you into $12,000 of debt. That’s the real problem here.

_Chase😈

186,952 Aufrufe • vor 2 Monaten

CALLER: Dave, I’m 45, engaged and worth almost $20 MILLION But my fiancée has no idea. DAVE RAMSEY: You’re engaged and she doesn’t know? CALLER: No. I’ve been hiding it. My last relationship went bad because of money, so I’m scared she’ll only want me for my wealth. DAVE RAMSEY: Then you made a mistake by waiting this long. You’re asking someone to marry you while keeping a $20 million secret. CALLER: So what do I do now? DAVE RAMSEY: Sit down face-to-face and tell her everything. Start with an apology. Tell her why you were afraid. Then show her the full picture. Marriage requires complete honesty. CALLER: Should I get a prenup? DAVE RAMSEY: In most cases, I’m not a fan of prenups. But when there’s a $20 million difference on the table, it’s different. A prenup isn’t about expecting divorce. It’s about making financial decisions while both people are thinking clearly instead of letting a judge make them later. The bigger risk isn’t the prenup. The bigger risk is trying to build a marriage on a secret.

CALLER: Dave, I’m 45, engaged and worth almost $20 MILLION But my fiancée has no idea. DAVE RAMSEY: You’re engaged and she doesn’t know? CALLER: No. I’ve been hiding it. My last relationship went bad because of money, so I’m scared she’ll only want me for my wealth. DAVE RAMSEY: Then you made a mistake by waiting this long. You’re asking someone to marry you while keeping a $20 million secret. CALLER: So what do I do now? DAVE RAMSEY: Sit down face-to-face and tell her everything. Start with an apology. Tell her why you were afraid. Then show her the full picture. Marriage requires complete honesty. CALLER: Should I get a prenup? DAVE RAMSEY: In most cases, I’m not a fan of prenups. But when there’s a $20 million difference on the table, it’s different. A prenup isn’t about expecting divorce. It’s about making financial decisions while both people are thinking clearly instead of letting a judge make them later. The bigger risk isn’t the prenup. The bigger risk is trying to build a marriage on a secret.

Tokyo

641,834 Aufrufe • vor 4 Monaten

Caller: My husband and I are in way over our heads. We are about $1.3 million in debt with two businesses, a house loan, a car loan, credit cards, and back taxes. Dave Ramsey: How old are you guys? How long have you been married? Caller: We're both 28, married six years. Dave Ramsey: How much do you owe on your home and what's it worth? Caller: We owe about $48,000, and it's worth about $250,000. Dave Ramsey: What do you owe on your cars and in taxes? Caller: Cars is $17,000, taxes is $30,000. Dave Ramsey: That means we have a whole bunch of business debt, like $1.2 million worth? On what? Caller: My husband was fired four years ago and couldn't find stable work. We started a summer camp in 2022 built with credit card debt. To make that stable, we bought another business's assets for the $1.2m. Dave Ramsey: The credit card debt totals how much? Caller: About $19,000, and $15,000 of that is from the summer camp. Dave Ramsey: You don't own the land on the camp, do you? What kind of income do you make on that? Caller: No, sir, we rent the ground. It makes about $200,000 a year. Dave Ramsey: And the business that you purchased, what was the assets? Who loaned you $1.2 million for that? Caller: It’s event rentals like staging, lights, audiovisual, and inflatables. The SBA loaned it to us. Jade Warshaw: Is the camp still operational? Is there a way you can add things for other seasons to earn more? Caller: Yes, we still do it every year. We've been trying to, but we've hit a point in the economy where people are trying not to spend as much on fun stuff or childcare. Dave Ramsey: Not really true, but being so overwhelmed, I can see how you could start to think that. Lots of people are still renting kid stuff all over the place. The economics at your house suck, and I'm so sorry, honey.

Caller: My husband and I are in way over our heads. We are about $1.3 million in debt with two businesses, a house loan, a car loan, credit cards, and back taxes. Dave Ramsey: How old are you guys? How long have you been married? Caller: We're both 28, married six years. Dave Ramsey: How much do you owe on your home and what's it worth? Caller: We owe about $48,000, and it's worth about $250,000. Dave Ramsey: What do you owe on your cars and in taxes? Caller: Cars is $17,000, taxes is $30,000. Dave Ramsey: That means we have a whole bunch of business debt, like $1.2 million worth? On what? Caller: My husband was fired four years ago and couldn't find stable work. We started a summer camp in 2022 built with credit card debt. To make that stable, we bought another business's assets for the $1.2m. Dave Ramsey: The credit card debt totals how much? Caller: About $19,000, and $15,000 of that is from the summer camp. Dave Ramsey: You don't own the land on the camp, do you? What kind of income do you make on that? Caller: No, sir, we rent the ground. It makes about $200,000 a year. Dave Ramsey: And the business that you purchased, what was the assets? Who loaned you $1.2 million for that? Caller: It’s event rentals like staging, lights, audiovisual, and inflatables. The SBA loaned it to us. Jade Warshaw: Is the camp still operational? Is there a way you can add things for other seasons to earn more? Caller: Yes, we still do it every year. We've been trying to, but we've hit a point in the economy where people are trying not to spend as much on fun stuff or childcare. Dave Ramsey: Not really true, but being so overwhelmed, I can see how you could start to think that. Lots of people are still renting kid stuff all over the place. The economics at your house suck, and I'm so sorry, honey.

Traeyz ♠️

144,315 Aufrufe • vor 3 Monaten

Caller: My situation is one where you would suggest that I sell my house to pay down debt, and if not, what should I do? Dave Ramsey: How much debt do you have, not counting your house? Caller: Around $500,000 or $600,000. My husband's school loans are $80,000, mine are $45,000, we have a debt consolidation loan for $45,000, and two cars that are ridiculously expensive. Dave Ramsey: Just give me the total. Caller: The total owed is $67,000 on my car and $62,000 on my husband's car. The main reason I'm calling is we owe the IRS $56,000, and they want to put a lien on our house because we owe over $50,000. Dave Ramsey: What's your household income? Caller: I'm about to go back full-time making $111,000, and my husband usually makes around $120,000, but he was just laid off at the beginning of the month. We have no emergency fund. Dave Ramsey: So if you get everything going again, you'd be at like $230,000. And the house is worth what? Caller: Between $770,000 and $800,000. Dave Ramsey: What do you owe on it? Caller: $628,000. My worry is after agent fees and closing costs. Dave Ramsey: You're not going to get enough to clean up the mess. The mess is too big and the house won't fix it. How'd you end up owing the IRS $56,000? Caller: When my husband graduated college and I landed in my career, we started making money and didn't realize we weren't getting enough taken out of our checks year after year. I finally met with an accountant who told me that, and I also have a side business where I design websites and haven't been pre-paying those taxes either. Dave Ramsey: What do you make on the side business? Caller: This year it was like $30,000. Dave Ramsey: What's your husband's career? Caller: He's a software quality engineer. He was in an 18-month contract and they didn't renew it. Dave Ramsey: The good news is he's very employable and can probably get a job pretty quick. You have a series of crises and need to work on three of them at once. Number one crisis: re-employment. Number two crisis: the IRS. You need to talk to a tax professional to negotiate an installment payment plan with no lien. Even if they put a lien on the house, they aren't going to do anything with it because they don't want to pay off a $628,000 mortgage. What you actually need to prevent is the IRS leaning your checking accounts and cleaning out your bank accounts.

Caller: My situation is one where you would suggest that I sell my house to pay down debt, and if not, what should I do? Dave Ramsey: How much debt do you have, not counting your house? Caller: Around $500,000 or $600,000. My husband's school loans are $80,000, mine are $45,000, we have a debt consolidation loan for $45,000, and two cars that are ridiculously expensive. Dave Ramsey: Just give me the total. Caller: The total owed is $67,000 on my car and $62,000 on my husband's car. The main reason I'm calling is we owe the IRS $56,000, and they want to put a lien on our house because we owe over $50,000. Dave Ramsey: What's your household income? Caller: I'm about to go back full-time making $111,000, and my husband usually makes around $120,000, but he was just laid off at the beginning of the month. We have no emergency fund. Dave Ramsey: So if you get everything going again, you'd be at like $230,000. And the house is worth what? Caller: Between $770,000 and $800,000. Dave Ramsey: What do you owe on it? Caller: $628,000. My worry is after agent fees and closing costs. Dave Ramsey: You're not going to get enough to clean up the mess. The mess is too big and the house won't fix it. How'd you end up owing the IRS $56,000? Caller: When my husband graduated college and I landed in my career, we started making money and didn't realize we weren't getting enough taken out of our checks year after year. I finally met with an accountant who told me that, and I also have a side business where I design websites and haven't been pre-paying those taxes either. Dave Ramsey: What do you make on the side business? Caller: This year it was like $30,000. Dave Ramsey: What's your husband's career? Caller: He's a software quality engineer. He was in an 18-month contract and they didn't renew it. Dave Ramsey: The good news is he's very employable and can probably get a job pretty quick. You have a series of crises and need to work on three of them at once. Number one crisis: re-employment. Number two crisis: the IRS. You need to talk to a tax professional to negotiate an installment payment plan with no lien. Even if they put a lien on the house, they aren't going to do anything with it because they don't want to pay off a $628,000 mortgage. What you actually need to prevent is the IRS leaning your checking accounts and cleaning out your bank accounts.

Traeyz ♠️

57,241 Aufrufe • vor 2 Monaten