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Dave Ramsey tells heartbroken mom to remove estranged daughter from her will Caller: My husband and I have two adult daughters. A year ago, because of the pandemic and our very different views on masking and social distancing, we had a heated conversation. She cut us out of her... life completely. She changed her number, changed her email, and all cards and correspondence have been returned unopened. Dave Ramsey: I’m so sorry. Caller: We have a will. It’s basically 50/50 for our girls. But given where we’re are now, I don’t feel comfortable if I were to die tomorrow to leave that daughter money. Is it appropriate for me to change my will, or should I just leave it and move on? Dave Ramsey: It’s worse than a death because they’re still there. Caller: We haven’t been able to contact her. Everything just comes back marked “Return to Sender.” Dave Ramsey: All over a mask and social distancing, this is so sad. Caller: It is. Dave Ramsey: Fear is a sad, sad thing. The number of these stories out there is just staggering. As a mom, your heart must be completely broken. Caller: It is. Dave Ramsey: What you have to do for you is you have to change your will. Caller: Okay. Dave Ramsey: That’s you admitting what has happened. In the Jewish culture, you’ll hear them say, “You are dead to me.” Dead means the person is still alive, but there’s no longer any financial or relational interaction anymore. It is worse than a death.show more

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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.

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77,643 просмотров • 15 дней назад

Caller: I am 61, I have zero retirement savings and only a $1,000 emergency fund. I am currently in Baby Step 2 trying to pay off debt, but my company offers a 4% 401k match. Given my age and lack of savings, should I pause the debt payoff to take advantage of the company match? Dave Ramsey: So you're 61 and have no money. Caller: None. Dave Ramsey: What do you make? Caller: I bring home roughly $67,000. Dave Ramsey: What is your debt? Caller: A little over $69,000. Dave Ramsey: On what? Caller: Student loan $11,000, I have a car loan of $18,000, I have a personal loan of $12,000, and then another personal loan of $26,000 on a tractor. Dave Ramsey: Why do you have a tractor? Caller: Well, we're country folks and... Dave Ramsey: Oh, "we." Where's your husband? Caller: My husband is 75, he's drawing Social Security, he is basically disabled. I guess you could say he has COPD and emphysema, he's had three back surgeries. Dave Ramsey: So he don't need to be on a tractor. Caller: No, I use the tractor. Dave Ramsey: Not anymore. Broke people don't have $26,000 tractors. Caller: Well, I have tried everything I can to try and sell this thing, other than just letting it go back and letting them sell it for whatever they can sell it for and paying the difference. Dave Ramsey: No, you haven't. Tractors are selling right now. What's, what kind of tractor is this? Caller: It's a Kubota... Dave Ramsey: That tractor will sell. Dave Ramsey: I would go to the credit union and borrow the $5,000 worth of difference and get this tractor sold, and you need to sell your car too. You guys are in emergency mode, girl. Caller: Well, this was two years ago before I discovered this past March. Dave Ramsey: Okay. What is your land worth? What's your land worth? Caller: Probably about three or four thousand. Dave Ramsey: Your land is worth $3,000? Caller: Yeah, we bought it back in '92. Dave Ramsey: You have a $26,000 tractor for a $4,000 piece of land. Caller: Well, we hunt and I use it to clear deer leases and our hunting area and food plots. Yeah, I told you I was a country girl. Dave Ramsey: Yeah, and you're starting to look up and go, "I need something to eat other than Social In-Security when I get to 66 or 67." So, yeah, if I'm in your mode, I am so scared, I'm going crazy, and I'm selling tractor, I'm selling car, I'm going to get a $2,000 car, I'm going to work like a crazy person.

Caller: I am 61, I have zero retirement savings and only a $1,000 emergency fund. I am currently in Baby Step 2 trying to pay off debt, but my company offers a 4% 401k match. Given my age and lack of savings, should I pause the debt payoff to take advantage of the company match? Dave Ramsey: So you're 61 and have no money. Caller: None. Dave Ramsey: What do you make? Caller: I bring home roughly $67,000. Dave Ramsey: What is your debt? Caller: A little over $69,000. Dave Ramsey: On what? Caller: Student loan $11,000, I have a car loan of $18,000, I have a personal loan of $12,000, and then another personal loan of $26,000 on a tractor. Dave Ramsey: Why do you have a tractor? Caller: Well, we're country folks and... Dave Ramsey: Oh, "we." Where's your husband? Caller: My husband is 75, he's drawing Social Security, he is basically disabled. I guess you could say he has COPD and emphysema, he's had three back surgeries. Dave Ramsey: So he don't need to be on a tractor. Caller: No, I use the tractor. Dave Ramsey: Not anymore. Broke people don't have $26,000 tractors. Caller: Well, I have tried everything I can to try and sell this thing, other than just letting it go back and letting them sell it for whatever they can sell it for and paying the difference. Dave Ramsey: No, you haven't. Tractors are selling right now. What's, what kind of tractor is this? Caller: It's a Kubota... Dave Ramsey: That tractor will sell. Dave Ramsey: I would go to the credit union and borrow the $5,000 worth of difference and get this tractor sold, and you need to sell your car too. You guys are in emergency mode, girl. Caller: Well, this was two years ago before I discovered this past March. Dave Ramsey: Okay. What is your land worth? What's your land worth? Caller: Probably about three or four thousand. Dave Ramsey: Your land is worth $3,000? Caller: Yeah, we bought it back in '92. Dave Ramsey: You have a $26,000 tractor for a $4,000 piece of land. Caller: Well, we hunt and I use it to clear deer leases and our hunting area and food plots. Yeah, I told you I was a country girl. Dave Ramsey: Yeah, and you're starting to look up and go, "I need something to eat other than Social In-Security when I get to 66 or 67." So, yeah, if I'm in your mode, I am so scared, I'm going crazy, and I'm selling tractor, I'm selling car, I'm going to get a $2,000 car, I'm going to work like a crazy person.

Traeyz ♠️

789,607 просмотров • 1 месяц назад

Caller: I'm $451,000 in total debt. $252,000 of that is student loans, and I have 185 in a home loan. I only bring in $70,000 a year. After pension and all that stuff taken out, it's more like $40,000. I just don't know where to start. Dave Ramsey: What do you do for a living? Caller: Law enforcement. Dave Ramsey: How do you get $252,000 in student loan debt to be a policeman? Caller: I went to a private institution because my mother wanted me to go there. I went there originally for finance, didn't do good, so I switched my major to criminal justice, and then eventually went on for a master's as well, which didn't really help my employment eligibility as much as I thought it would. Dave Ramsey: Is your mother wealthy? Caller: No, neither my mother nor my father. I'm the first in my family to go to college. Dave Ramsey: Mathematically, we always look at the ratio of shovel to hole. The amount of hole you're in versus the shovel you have, your debt to your income. Are you married? Caller: No, I have a girlfriend who lives with me, and her daughter as well. Dave Ramsey: What is this house worth? Caller: I actually just purchased it off of a whim. My father passed away and it was the last conversation we had. It was across the street from his house, and he really wanted me to get it, so I jumped in with both feet to honor him. Dave Ramsey: So you didn't put anything down, so the house is worth $185,000? Caller: Yeah. Dave Ramsey: How old are you? Caller: I'm 31. Dave Ramsey: When are you planning on marrying this girl? Caller: She's currently in school to finish up for nurse practitioner. Sometime after that, hopefully after January. Dave Ramsey: Does she have student loan debt? Caller: She does. Dave Ramsey: How much? Caller: I'm not sure because she's not really on board with all this. I've tried to bring this up to her when listening to your show recently, and her thing is, "I'm too busy with school and don't want to worry about that right now." Dave Ramsey: I think you're the voice of experience that says it's a good idea to worry about it, otherwise you end up up a creek, which is where you are right now, and your paddle is real small. You told me in a five-minute conversation of two really stupid financial decisions you made from the influence of your mother and your father. You bought things you couldn't afford with money you didn't have, because of their influence. At 31 years old, you're going to have to decide to love your parents but no longer be influenced to do financial decisions based on their opinion, or even your perceived opinion of what your father would have thought. You cannot please these people anymore. They are breaking you. You make $70,000 a year and you're so far in debt you can't breathe. Buying a house you can't afford, going to a school you shouldn't have gone to and paying twice or three times as much for an education that you didn't even need to do the job you do. Am I wrong? Caller: Right. No, not at all. Dave Ramsey: Number one, that influence has to stop. Number two, you can't afford this house as a single guy making $70,000 a year.

Caller: I'm $451,000 in total debt. $252,000 of that is student loans, and I have 185 in a home loan. I only bring in $70,000 a year. After pension and all that stuff taken out, it's more like $40,000. I just don't know where to start. Dave Ramsey: What do you do for a living? Caller: Law enforcement. Dave Ramsey: How do you get $252,000 in student loan debt to be a policeman? Caller: I went to a private institution because my mother wanted me to go there. I went there originally for finance, didn't do good, so I switched my major to criminal justice, and then eventually went on for a master's as well, which didn't really help my employment eligibility as much as I thought it would. Dave Ramsey: Is your mother wealthy? Caller: No, neither my mother nor my father. I'm the first in my family to go to college. Dave Ramsey: Mathematically, we always look at the ratio of shovel to hole. The amount of hole you're in versus the shovel you have, your debt to your income. Are you married? Caller: No, I have a girlfriend who lives with me, and her daughter as well. Dave Ramsey: What is this house worth? Caller: I actually just purchased it off of a whim. My father passed away and it was the last conversation we had. It was across the street from his house, and he really wanted me to get it, so I jumped in with both feet to honor him. Dave Ramsey: So you didn't put anything down, so the house is worth $185,000? Caller: Yeah. Dave Ramsey: How old are you? Caller: I'm 31. Dave Ramsey: When are you planning on marrying this girl? Caller: She's currently in school to finish up for nurse practitioner. Sometime after that, hopefully after January. Dave Ramsey: Does she have student loan debt? Caller: She does. Dave Ramsey: How much? Caller: I'm not sure because she's not really on board with all this. I've tried to bring this up to her when listening to your show recently, and her thing is, "I'm too busy with school and don't want to worry about that right now." Dave Ramsey: I think you're the voice of experience that says it's a good idea to worry about it, otherwise you end up up a creek, which is where you are right now, and your paddle is real small. You told me in a five-minute conversation of two really stupid financial decisions you made from the influence of your mother and your father. You bought things you couldn't afford with money you didn't have, because of their influence. At 31 years old, you're going to have to decide to love your parents but no longer be influenced to do financial decisions based on their opinion, or even your perceived opinion of what your father would have thought. You cannot please these people anymore. They are breaking you. You make $70,000 a year and you're so far in debt you can't breathe. Buying a house you can't afford, going to a school you shouldn't have gone to and paying twice or three times as much for an education that you didn't even need to do the job you do. Am I wrong? Caller: Right. No, not at all. Dave Ramsey: Number one, that influence has to stop. Number two, you can't afford this house as a single guy making $70,000 a year.

Traeyz ♠️

31,663 просмотров • 1 месяц назад

Dave Ramsey tells caller American Citizens are not allowed to own Real Estate in Mexico Caller: “I want to buy a beach condo in Mexico for $350,000… with my inheritance.” Dave Ramsey: Do you have the cash? Caller: Yes. Dave Ramsey: If you lost the condo tomorrow, would your life still be okay? Caller: Yes. Dave Ramsey: Then I’d probably do it. Caller: Seriously? I thought you’d tear me apart. Dave: Just remember… buying property in Mexico isn’t like buying in the U.S. Caller: How so? Dave: You don’t technically own it. It’s held through a Mexican trust, and the rules are different. Dave: “Go in with your eyes open. If you’re comfortable with the risk, enjoy the beach.”

Dave Ramsey tells caller American Citizens are not allowed to own Real Estate in Mexico Caller: “I want to buy a beach condo in Mexico for $350,000… with my inheritance.” Dave Ramsey: Do you have the cash? Caller: Yes. Dave Ramsey: If you lost the condo tomorrow, would your life still be okay? Caller: Yes. Dave Ramsey: Then I’d probably do it. Caller: Seriously? I thought you’d tear me apart. Dave: Just remember… buying property in Mexico isn’t like buying in the U.S. Caller: How so? Dave: You don’t technically own it. It’s held through a Mexican trust, and the rules are different. Dave: “Go in with your eyes open. If you’re comfortable with the risk, enjoy the beach.”

hi (𝜏)

670,311 просмотров • 1 месяц назад

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 ♠️

144,180 просмотров • 1 месяц назад

Dave Ramsey: How much student loan debt do you have? Caller: About $550,000 Dave Ramsey: $550,000? Caller: Yeah. Dave Ramsey: What is your field of study? Caller: Medicine. Family practice. Dave Ramsey: Why did it take $550,000 to do family practice? Caller: Poor decisions and misguided advice early on to not worry about loans. Dave Ramsey: Family practice. What are you looking at, a hundred and a half a year? Caller: $180,00] starting. Dave Ramsey: Why does it take eight years if you're making $180,000? You could live on $80,000, put $100,000 on it, and be done in five years. Caller: After taxes and tithing, I'm down to $110,000. We plan to put about $85,000 a year toward it, leaving $20,000 to $30,000 to live off of. With the interest rate, it will take about eight years. Dave Ramsey: Your income doesn't go up in your scenario? Caller: That is building in a 5% raise every year. Dave Ramsey: I think you'll get more raises than that. Can you work ER on the weekends? Caller: The place I'm signed with won't let me work other jobs so I don't come in tired. But they said they can put me to work as much as I need. Dave Ramsey: You could pick up another $100,000 a year working ER on the weekends if you have the stamina. I want to increase the size of your shovel. I'm not going to accept the eight years; I'm going with a four or five-year plan. And yes, I am going to delay retirement because this is a vast problem.

Dave Ramsey: How much student loan debt do you have? Caller: About $550,000 Dave Ramsey: $550,000? Caller: Yeah. Dave Ramsey: What is your field of study? Caller: Medicine. Family practice. Dave Ramsey: Why did it take $550,000 to do family practice? Caller: Poor decisions and misguided advice early on to not worry about loans. Dave Ramsey: Family practice. What are you looking at, a hundred and a half a year? Caller: $180,00] starting. Dave Ramsey: Why does it take eight years if you're making $180,000? You could live on $80,000, put $100,000 on it, and be done in five years. Caller: After taxes and tithing, I'm down to $110,000. We plan to put about $85,000 a year toward it, leaving $20,000 to $30,000 to live off of. With the interest rate, it will take about eight years. Dave Ramsey: Your income doesn't go up in your scenario? Caller: That is building in a 5% raise every year. Dave Ramsey: I think you'll get more raises than that. Can you work ER on the weekends? Caller: The place I'm signed with won't let me work other jobs so I don't come in tired. But they said they can put me to work as much as I need. Dave Ramsey: You could pick up another $100,000 a year working ER on the weekends if you have the stamina. I want to increase the size of your shovel. I'm not going to accept the eight years; I'm going with a four or five-year plan. And yes, I am going to delay retirement because this is a vast problem.

Traeyz ♠️

1,928,012 просмотров • 1 месяц 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.”

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.”

HENRY

990,073 просмотров • 1 месяц назад

Parents Promised to Pay for College… Until Their Daughter Broke One Rule Caller: My husband and I have been on your plan off and on. We’ve paid off all our debt at one point, and then I was stupid, got back into it. One of the driving forces is we want to cash flow our kids’ college. I’ve told my kids since they were in middle school, “We will pay for college, but you have to live at home, you have to go to a school that we approve of, and you have to have good grades.” Dave Ramsey: Yeah, that’s fine. I did the same thing except the live-at-home part. John Delony: Why do you add that you have to live at home? Caller: Because where I live there are so many colleges within 20 minutes of our home that there is no reason for you to not live at home. Dave Ramsey: Okay. It’s your money, and those are your rules. What’s your question? Caller: My daughter refuses to stay home and go to school. She wants to go to WSU, which is six hours away, and they require you to live on campus and have the food program. John Delony: This is very simple. She’s opting out of your rules. Caller: Yes. And it’s just… it’s very difficult for me. John Delony: You drew a very hard line, a very clear line. This is the way this is going to be, and she said, “Cool. I’m going that way.” Dave Ramsey: But that doesn’t obligate you to pay. Caller: I said I would help with some groceries. Dave Ramsey: No, no, no. She gets none of your money. That’s the rule you set up. Caller: It kills me when you see your kid running into… Dave Ramsey: It’s really heartbreaking to watch people you love do stupid butt things. But you don’t get to vote anymore once they’re adults.

Parents Promised to Pay for College… Until Their Daughter Broke One Rule Caller: My husband and I have been on your plan off and on. We’ve paid off all our debt at one point, and then I was stupid, got back into it. One of the driving forces is we want to cash flow our kids’ college. I’ve told my kids since they were in middle school, “We will pay for college, but you have to live at home, you have to go to a school that we approve of, and you have to have good grades.” Dave Ramsey: Yeah, that’s fine. I did the same thing except the live-at-home part. John Delony: Why do you add that you have to live at home? Caller: Because where I live there are so many colleges within 20 minutes of our home that there is no reason for you to not live at home. Dave Ramsey: Okay. It’s your money, and those are your rules. What’s your question? Caller: My daughter refuses to stay home and go to school. She wants to go to WSU, which is six hours away, and they require you to live on campus and have the food program. John Delony: This is very simple. She’s opting out of your rules. Caller: Yes. And it’s just… it’s very difficult for me. John Delony: You drew a very hard line, a very clear line. This is the way this is going to be, and she said, “Cool. I’m going that way.” Dave Ramsey: But that doesn’t obligate you to pay. Caller: I said I would help with some groceries. Dave Ramsey: No, no, no. She gets none of your money. That’s the rule you set up. Caller: It kills me when you see your kid running into… Dave Ramsey: It’s really heartbreaking to watch people you love do stupid butt things. But you don’t get to vote anymore once they’re adults.

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72,289 просмотров • 25 дней назад

Caller: “I’m thinking about filing for bankruptcy.” Dave Ramsey: “Okay… that’s a serious step. What’s going on?” Caller: “My wife and I bring home about $7,700 a month, but she’s talking about separating. If I’m on my own, I’m down to about $3,850 a month and I’m basically underwater every month.” Dave Ramsey: “So the marriage is already under a lot of pressure.” Caller: “Yeah… there’s been a lot of resentment from how I’ve been over the last year and a half.” Dave Ramsey: “Were you present at home during that time?” Caller: “Not really. We’ve got a six-year-old daughter.” Dave Ramsey: “That matters. Because money stress is one of the biggest pressures in a marriage. When people say ‘you weren’t present,’ a lot of times what they really mean is ‘we were drowning financially.’” Caller: “That could be very possible.” Dave Ramsey: “So let’s talk numbers. What debt are we dealing with?” Caller: “About $75,000 total outside the house. Credit cards, an HVAC loan, and a few smaller balances. Most of it was from trying to keep things afloat and, honestly, some bad spending choices.” Dave Ramsey: “Okay. So this isn’t bankruptcy territory.” Caller: “It isn’t?” Dave Ramsey: “No. The math says you’re not broke. You’re just disorganized and under pressure.” “If you’ve got $7,700 coming in as a couple, this is fixable.” “But it only works if you stop hiding, stop guessing, and both of you decide to actually fight the problem together.” Caller: “We’ve never really been on the same page with the money.” Dave Ramsey: “Then that’s the real issue, not the debt.” “Because if you stay married and you work together, you could clean this up fairly quickly.” “But it’s going to require a full reset.” “No more credit cards. No more secret spending. Every dollar on a plan. Every expense visible. Both of you aware of what’s going on at all times.” “And yeah, it’s going to be tight for a while. But that’s how you get your life back on track.”

Caller: “I’m thinking about filing for bankruptcy.” Dave Ramsey: “Okay… that’s a serious step. What’s going on?” Caller: “My wife and I bring home about $7,700 a month, but she’s talking about separating. If I’m on my own, I’m down to about $3,850 a month and I’m basically underwater every month.” Dave Ramsey: “So the marriage is already under a lot of pressure.” Caller: “Yeah… there’s been a lot of resentment from how I’ve been over the last year and a half.” Dave Ramsey: “Were you present at home during that time?” Caller: “Not really. We’ve got a six-year-old daughter.” Dave Ramsey: “That matters. Because money stress is one of the biggest pressures in a marriage. When people say ‘you weren’t present,’ a lot of times what they really mean is ‘we were drowning financially.’” Caller: “That could be very possible.” Dave Ramsey: “So let’s talk numbers. What debt are we dealing with?” Caller: “About $75,000 total outside the house. Credit cards, an HVAC loan, and a few smaller balances. Most of it was from trying to keep things afloat and, honestly, some bad spending choices.” Dave Ramsey: “Okay. So this isn’t bankruptcy territory.” Caller: “It isn’t?” Dave Ramsey: “No. The math says you’re not broke. You’re just disorganized and under pressure.” “If you’ve got $7,700 coming in as a couple, this is fixable.” “But it only works if you stop hiding, stop guessing, and both of you decide to actually fight the problem together.” Caller: “We’ve never really been on the same page with the money.” Dave Ramsey: “Then that’s the real issue, not the debt.” “Because if you stay married and you work together, you could clean this up fairly quickly.” “But it’s going to require a full reset.” “No more credit cards. No more secret spending. Every dollar on a plan. Every expense visible. Both of you aware of what’s going on at all times.” “And yeah, it’s going to be tight for a while. But that’s how you get your life back on track.”

KΞRL_✂️

1,184,759 просмотров • 2 месяцев назад

Caller: I'm 38 years old, my wife's 34. Our take-home income is about $120,000 a year. And we've been working on paying off $57,000 in debt for the last 6 months or so. Caller: My wife, is 6 months pregnant, so I've just been kind of saving money since we found out. And come to find out, she racked up $50,000 in credit card debt that I wasn't aware of, and I'm terrified, and I don't know what to do. Jade Warshaw: In the last 6 months? Caller: No, this has actually been going on for longer than that. I think it got worse since she became pregnant buying baby stuff and, I don't know what all was going through her head, but I'm scared. Dave Ramsey: she knew, and you two were having conversations, that you're trying to pay off $57,000 in debt? Caller: Yes Dave Ramsey: Purposefully hiding it. That's like deception. Caller: Correct. Dave Ramsey: Yeah. "Terrified" is probably not the right word to describe your emotions. Jade Warshaw: Did she tell you about it, or you found out about it and confronted her? 'Cause that's a key thing here. Caller: Yeah. Confronted her. Dave Ramsey: The money is secondary. The primary thing and that's why people in my world call this "financial infidelity." Because it's a deep breach of trust. Sexual infidelity is a deep breach of trust. And, truthfully, for most people, this activates the same part in your brain or in your soul that sexual infidelity activates, because it's not sex, as much as it is a deep breach of trust. Caller: Right. Dave Ramsey: And so I'm telling you all that and I'm making a big deal about it, not to get her in trouble, but, I'm going to strongly suggest you guys see a marriage counselor.

Caller: I'm 38 years old, my wife's 34. Our take-home income is about $120,000 a year. And we've been working on paying off $57,000 in debt for the last 6 months or so. Caller: My wife, is 6 months pregnant, so I've just been kind of saving money since we found out. And come to find out, she racked up $50,000 in credit card debt that I wasn't aware of, and I'm terrified, and I don't know what to do. Jade Warshaw: In the last 6 months? Caller: No, this has actually been going on for longer than that. I think it got worse since she became pregnant buying baby stuff and, I don't know what all was going through her head, but I'm scared. Dave Ramsey: she knew, and you two were having conversations, that you're trying to pay off $57,000 in debt? Caller: Yes Dave Ramsey: Purposefully hiding it. That's like deception. Caller: Correct. Dave Ramsey: Yeah. "Terrified" is probably not the right word to describe your emotions. Jade Warshaw: Did she tell you about it, or you found out about it and confronted her? 'Cause that's a key thing here. Caller: Yeah. Confronted her. Dave Ramsey: The money is secondary. The primary thing and that's why people in my world call this "financial infidelity." Because it's a deep breach of trust. Sexual infidelity is a deep breach of trust. And, truthfully, for most people, this activates the same part in your brain or in your soul that sexual infidelity activates, because it's not sex, as much as it is a deep breach of trust. Caller: Right. Dave Ramsey: And so I'm telling you all that and I'm making a big deal about it, not to get her in trouble, but, I'm going to strongly suggest you guys see a marriage counselor.

Traeyz ♠️

32,731 просмотров • 1 месяц назад

Caller: I’m going to retire in about three years at 76. I have no mutual funds, no 401k. My question is, should I buy or rent at that time, at 76? Dave Ramsey: Okay. How would you be able to buy if you don't have any money? Caller: Currently, my income is $4,500 a month. $2,000 is going to rent, $2,000 is going to student loan, and I spend $500 on living expenses. Dave Ramsey: You're 70 years old and you have a student loan? Caller: Yes. I will pay it off. Dave Ramsey: What's the balance on it? Caller: $12,000. So I'm paying $2,000 a month on that. Dave Ramsey: All right. I'm really curious how you end up with a student loan at your age. How did you do that? Caller: I paid the interest only for a long time, since 2005, I guess. That's when I graduated. Dave Ramsey: You graduated 18 years ago, and your degree is in what? Caller: That particular degree was in communications. Dave Ramsey: Okay. And what do you do for a living? Caller: I'm a quality inspector. Dave Ramsey: At retirement, you have to have monthly money to pay bills, buy food, and provide shelter. The largest line item in your budget for the rest of your life is going to be housing. If you're renting, your cost of housing is going to go up every year because rent always goes up. If you buy, at least you're locked in to what you're going to be spending on housing from this point forward. So, buying is good. Having a paid-off home by the time you get there is even better, and of course, having a nest egg to live on. So, do you have a pension, or are you counting on just Social Security? Caller: Right currently, I have a universal life policy that has a cash value of approximately $9,000 in it. I'm reluctant to cash it out because it has a long-term care rider of 50 months on it at 4%. By the time I retire, I will have approximately $500 in pension and $2,500 in Social Security, which will give me $3,000. Dave Ramsey: And you have no money in savings? At all? Caller: $1,000. I have my thousand. Dave Ramsey: I want you to cash the universal in and pay the student loan down, and let's be done with this student loan very quickly. Let's get that in the background as soon as possible so we can try to accomplish a couple of these other goals, which is housing and start to build some kind of a nest egg over the next three years. Basically, you're going to live on beans and rice for the next three years while you throw as much money towards housing, buying a home, and as much money towards a nest egg as you can throw.

Caller: I’m going to retire in about three years at 76. I have no mutual funds, no 401k. My question is, should I buy or rent at that time, at 76? Dave Ramsey: Okay. How would you be able to buy if you don't have any money? Caller: Currently, my income is $4,500 a month. $2,000 is going to rent, $2,000 is going to student loan, and I spend $500 on living expenses. Dave Ramsey: You're 70 years old and you have a student loan? Caller: Yes. I will pay it off. Dave Ramsey: What's the balance on it? Caller: $12,000. So I'm paying $2,000 a month on that. Dave Ramsey: All right. I'm really curious how you end up with a student loan at your age. How did you do that? Caller: I paid the interest only for a long time, since 2005, I guess. That's when I graduated. Dave Ramsey: You graduated 18 years ago, and your degree is in what? Caller: That particular degree was in communications. Dave Ramsey: Okay. And what do you do for a living? Caller: I'm a quality inspector. Dave Ramsey: At retirement, you have to have monthly money to pay bills, buy food, and provide shelter. The largest line item in your budget for the rest of your life is going to be housing. If you're renting, your cost of housing is going to go up every year because rent always goes up. If you buy, at least you're locked in to what you're going to be spending on housing from this point forward. So, buying is good. Having a paid-off home by the time you get there is even better, and of course, having a nest egg to live on. So, do you have a pension, or are you counting on just Social Security? Caller: Right currently, I have a universal life policy that has a cash value of approximately $9,000 in it. I'm reluctant to cash it out because it has a long-term care rider of 50 months on it at 4%. By the time I retire, I will have approximately $500 in pension and $2,500 in Social Security, which will give me $3,000. Dave Ramsey: And you have no money in savings? At all? Caller: $1,000. I have my thousand. Dave Ramsey: I want you to cash the universal in and pay the student loan down, and let's be done with this student loan very quickly. Let's get that in the background as soon as possible so we can try to accomplish a couple of these other goals, which is housing and start to build some kind of a nest egg over the next three years. Basically, you're going to live on beans and rice for the next three years while you throw as much money towards housing, buying a home, and as much money towards a nest egg as you can throw.

Traeyz ♠️

174,559 просмотров • 1 месяц назад

Caller: I don't know what to do. My husband just died within the last week or so. Dave Ramsey: Oh, my. Caller: And I went to call my sister, only to find out that her husband had died in February. So, we're both in the same boat. But the reason I called is because I don't know exactly what I should be doing in terms of the mortgage. I received a letter from the mortgage company where they were doing the annual escrow analysis, and they've upped the mortgage payment almost $1,000. Dave Ramsey: Mmh. And how old are you? Caller: 76. Dave Ramsey: How old was your husband? Caller: 85. Dave Ramsey: What happened? Caller: He fell at home and he went to the VA hospital, and they in turn transferred him to a civilian hospital, and seven days later he died. They don't know exactly why he died; they were guessing. But... Dave Ramsey: What was his name? Caller: Monroe. Dave Ramsey: So, do you have children? Caller: He has three grown children. I have three grown children. They're all on their own. Dave Ramsey: Which one of your three children is the responsible one? Caller: My daughter. Dave Ramsey:Didn't take long to come up with that name. Call her today, okay? Call your daughter as soon as you hang up with us, and then we will have one of our coaches call you within 24 hours, and we'll make sure you got food money set up. We'll make sure that you got a good budget and you got a good handle on where you are. Somebody walking with you and helping you do this stuff. And again, we don't need any payment from this. This is... my Bible says to take care of widows, and that's what I'm doing. So... and it's our honor to do that for you

Caller: I don't know what to do. My husband just died within the last week or so. Dave Ramsey: Oh, my. Caller: And I went to call my sister, only to find out that her husband had died in February. So, we're both in the same boat. But the reason I called is because I don't know exactly what I should be doing in terms of the mortgage. I received a letter from the mortgage company where they were doing the annual escrow analysis, and they've upped the mortgage payment almost $1,000. Dave Ramsey: Mmh. And how old are you? Caller: 76. Dave Ramsey: How old was your husband? Caller: 85. Dave Ramsey: What happened? Caller: He fell at home and he went to the VA hospital, and they in turn transferred him to a civilian hospital, and seven days later he died. They don't know exactly why he died; they were guessing. But... Dave Ramsey: What was his name? Caller: Monroe. Dave Ramsey: So, do you have children? Caller: He has three grown children. I have three grown children. They're all on their own. Dave Ramsey: Which one of your three children is the responsible one? Caller: My daughter. Dave Ramsey:Didn't take long to come up with that name. Call her today, okay? Call your daughter as soon as you hang up with us, and then we will have one of our coaches call you within 24 hours, and we'll make sure you got food money set up. We'll make sure that you got a good budget and you got a good handle on where you are. Somebody walking with you and helping you do this stuff. And again, we don't need any payment from this. This is... my Bible says to take care of widows, and that's what I'm doing. So... and it's our honor to do that for you

Brown Legacy

454,197 просмотров • 1 месяц назад

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 ♠️

57,064 просмотров • 25 дней назад

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 ♠️

1,768,626 просмотров • 1 месяц назад

Caller: I’m getting married. She has $3 million. I have $45 million. Should we get a prenup? Dave Ramsey: Yes. Caller: She wants us to build wealth together. She suggested moving 5% of my assets into joint ownership every year. Dave Ramsey: There’s no reason to do that. Caller: Then what’s fair? Dave Ramsey: You both leave with what you brought into the marriage. Then agree on how future growth gets shared. Caller: So we build together without giving away the original assets? Dave Ramsey: Exactly. A prenup should protect both of you, not turn your marriage into a roommate agreement

Caller: I’m getting married. She has $3 million. I have $45 million. Should we get a prenup? Dave Ramsey: Yes. Caller: She wants us to build wealth together. She suggested moving 5% of my assets into joint ownership every year. Dave Ramsey: There’s no reason to do that. Caller: Then what’s fair? Dave Ramsey: You both leave with what you brought into the marriage. Then agree on how future growth gets shared. Caller: So we build together without giving away the original assets? Dave Ramsey: Exactly. A prenup should protect both of you, not turn your marriage into a roommate agreement

hi (𝜏)

2,355,765 просмотров • 1 месяц назад

Caller: I won $22 million in the lottery. Dave Ramsey: Who knows about it? Caller: My wife and one sibling. That's it. Dave Ramsey: Not even your kids? Caller: No. I don't want them growing up as waiters. Dave Ramsey: Waiters? Caller: Waiting for me to die so they can inherit the money. I want them to build something of their own first. Figure out who they are. Find their purpose. Create their own success. Dave Ramsey: So you'll tell them eventually? Caller: Absolutely. Just not yet. I'd rather they know how to earn money before they know how much money I have. Dave Ramsey: That's wisdom. A sudden fortune can change a family. Sometimes protecting your children means protecting them from the money itself.

Caller: I won $22 million in the lottery. Dave Ramsey: Who knows about it? Caller: My wife and one sibling. That's it. Dave Ramsey: Not even your kids? Caller: No. I don't want them growing up as waiters. Dave Ramsey: Waiters? Caller: Waiting for me to die so they can inherit the money. I want them to build something of their own first. Figure out who they are. Find their purpose. Create their own success. Dave Ramsey: So you'll tell them eventually? Caller: Absolutely. Just not yet. I'd rather they know how to earn money before they know how much money I have. Dave Ramsey: That's wisdom. A sudden fortune can change a family. Sometimes protecting your children means protecting them from the money itself.

RealGold⚜️

248,104 просмотров • 2 месяцев назад

Caller: I just recently graduated from residency to become an orthodontist. And I have student loans that total just over $1 million. Dave Ramsey: You're kidding. Caller: No, sir. Dave Ramsey: What were you thinking? Caller: Well, I wasn't thinking, clearly. So I sat down and calculated my interest rates, and my interest is about $5,800 a month. My fiancé and I are trying to decide what's the best way to try to attack this. This first year, if we're able to pay $10,000 a month, I guess there's basically two ways that we thought of it. I can do income-based, and my required payment will be about $3,000, and then we can take the remaining $7,000 and pay it directly at individual loans. Or should we cover the interest and then pay additional moneys towards other loans? Dave Ramsey: Okay. What will you be making as an orthodontist? Caller: About $250,000. Dave Ramsey: What does your fiancé do, and what will she be making? Caller: We actually just opened up an office, and she works in the office, so she's not taking any income out of the office. Dave Ramsey: Okay. So if you make $250,000 a year, why are you only putting $120,000 on your debt? Caller: The $250,000 I calculated pre-tax and everything else. We're going to put as much as we possibly can on the debt. And in the years to come as the income goes up, we're hoping to be able to make payments of $20,000-$40,000 a month. Dave Ramsey: Okay. I think the income-based option does not do away with interest, and so interest is going to be accruing greater than you're putting in. So you're not making any mathematical progress by doing the 3 and 7 idea, but you will make emotional progress because you'll be able to knock off some of the smaller ones. Caller: Right. Dave Ramsey: And God knows you're going to need some emotional progress in this process. And then the only other commentary I would just add is that, this is such an extreme situation. Your income is extreme, and your debt is extreme, that you have to be very, very careful to just act like you're a broke college student because you are a broke orthodontist. Caller: Right. Dave Ramsey: And so, that means you guys aren't going on vacations, you're not buying a house, you're not leasing a new BMW, you're not going to a restaurant. You have a $1,000,000 student loan debt. It gives me an anxiety attack, and it's not even my debt, but the horrible news is that ridiculous figure. The wonderful news is you have great income potential and a great income right now. So, you cannot relax. Caller: Right. Dave Ramsey: You have to cut as deeply as you can cut. Caller: Right. Dave Ramsey: And so, be dialing your taxes in. I don't want you to get behind on taxes. But other than taxes, and food, and water, and electricity, I really want everything else just going on student loan debt.

Caller: I just recently graduated from residency to become an orthodontist. And I have student loans that total just over $1 million. Dave Ramsey: You're kidding. Caller: No, sir. Dave Ramsey: What were you thinking? Caller: Well, I wasn't thinking, clearly. So I sat down and calculated my interest rates, and my interest is about $5,800 a month. My fiancé and I are trying to decide what's the best way to try to attack this. This first year, if we're able to pay $10,000 a month, I guess there's basically two ways that we thought of it. I can do income-based, and my required payment will be about $3,000, and then we can take the remaining $7,000 and pay it directly at individual loans. Or should we cover the interest and then pay additional moneys towards other loans? Dave Ramsey: Okay. What will you be making as an orthodontist? Caller: About $250,000. Dave Ramsey: What does your fiancé do, and what will she be making? Caller: We actually just opened up an office, and she works in the office, so she's not taking any income out of the office. Dave Ramsey: Okay. So if you make $250,000 a year, why are you only putting $120,000 on your debt? Caller: The $250,000 I calculated pre-tax and everything else. We're going to put as much as we possibly can on the debt. And in the years to come as the income goes up, we're hoping to be able to make payments of $20,000-$40,000 a month. Dave Ramsey: Okay. I think the income-based option does not do away with interest, and so interest is going to be accruing greater than you're putting in. So you're not making any mathematical progress by doing the 3 and 7 idea, but you will make emotional progress because you'll be able to knock off some of the smaller ones. Caller: Right. Dave Ramsey: And God knows you're going to need some emotional progress in this process. And then the only other commentary I would just add is that, this is such an extreme situation. Your income is extreme, and your debt is extreme, that you have to be very, very careful to just act like you're a broke college student because you are a broke orthodontist. Caller: Right. Dave Ramsey: And so, that means you guys aren't going on vacations, you're not buying a house, you're not leasing a new BMW, you're not going to a restaurant. You have a $1,000,000 student loan debt. It gives me an anxiety attack, and it's not even my debt, but the horrible news is that ridiculous figure. The wonderful news is you have great income potential and a great income right now. So, you cannot relax. Caller: Right. Dave Ramsey: You have to cut as deeply as you can cut. Caller: Right. Dave Ramsey: And so, be dialing your taxes in. I don't want you to get behind on taxes. But other than taxes, and food, and water, and electricity, I really want everything else just going on student loan debt.

Traeyz ♠️

72,785 просмотров • 1 месяц назад

Dave Ramsey On My Husband Doesn't Want To Share His Inheritance. Caller (Rochelle): My husband and I, we have four kids, we're a blended family. I have a daughter, he has a son, and then we have two boys together. Um, his father died and he inherited some land from him, it's family land. And so, when we are talking about inheritance for our children, he wants and understandably so the land to go to be split between the three boys because he wants to keep it in his bloodline. Um, and so I am fine with that, but where we disagree is on how to view inheritance for my daughter. Um, he thinks the land should be not even taken into consideration when we do inheritance, so monetary value, etc., shouldn't matter. And so, what we're kind of looking at is actually selling our current home and then using the money that we make to move to that land and then build on it. Um, in which case, we would live out the rest of our days there and put our money into it. And I think that that also should be taken into consideration, but he thinks that the boys should get the land split between them and then whatever else inheritance we have left should be split equally between all four kids. And so I just kind of wanted your opinion on that. Dave Ramsey: Wow. Does it occur to him how hurtful it is when he says that? Caller: I don't think so. Dave Ramsey: Have you said, "That's hurtful, you're a butt"? Caller: (Laughs) I haven't said that. I try to talk very nicely to him. Dave Ramsey: I know, but that's what my wife would have said, I'm just thinking. Caller: (Laughs) And it is, it's very sentimental to him, you know, his dad... Dave Ramsey: Yeah, yeah, yeah, yeah, yeah. And Cinderella has to go the stepchild has to go and mop the floors while the three other ones go to the ball. Dave Ramsey: I lost you. Are you there? Caller: Yeah, you cut out, I don't know what happened to your phone. That's okay. Sorry, sorry. But like I said, I don't mind them getting the land, that's totally fine, it's family... Dave Ramsey: How much land is involved? Caller: Um, it's only about 33 acres right now. Um, it was his grandmother's land, she sold it, and then his dad bought back this portion and was planning on buying the remainder of it surrounding it, and so my husband wants to buy back the remainder as well if we can. Dave Ramsey: The remainder is how much on top of the 33? Caller: I don't know how much more there is that he would want to buy. Dave Ramsey: what is your personal income and what is his income? Caller: Um, he makes about 65 and I'm making about 55 right now, but we both increase pretty regularly every year. Dave Ramsey: How old are you guys? Caller: Um, 36. Dave Ramsey: Okay. All right, um, well, I don't know that our opinion really matters here, uh, because Bubba's made his mind up. Caller: Yeah. Dave Ramsey: Um, so...

Dave Ramsey On My Husband Doesn't Want To Share His Inheritance. Caller (Rochelle): My husband and I, we have four kids, we're a blended family. I have a daughter, he has a son, and then we have two boys together. Um, his father died and he inherited some land from him, it's family land. And so, when we are talking about inheritance for our children, he wants and understandably so the land to go to be split between the three boys because he wants to keep it in his bloodline. Um, and so I am fine with that, but where we disagree is on how to view inheritance for my daughter. Um, he thinks the land should be not even taken into consideration when we do inheritance, so monetary value, etc., shouldn't matter. And so, what we're kind of looking at is actually selling our current home and then using the money that we make to move to that land and then build on it. Um, in which case, we would live out the rest of our days there and put our money into it. And I think that that also should be taken into consideration, but he thinks that the boys should get the land split between them and then whatever else inheritance we have left should be split equally between all four kids. And so I just kind of wanted your opinion on that. Dave Ramsey: Wow. Does it occur to him how hurtful it is when he says that? Caller: I don't think so. Dave Ramsey: Have you said, "That's hurtful, you're a butt"? Caller: (Laughs) I haven't said that. I try to talk very nicely to him. Dave Ramsey: I know, but that's what my wife would have said, I'm just thinking. Caller: (Laughs) And it is, it's very sentimental to him, you know, his dad... Dave Ramsey: Yeah, yeah, yeah, yeah, yeah. And Cinderella has to go the stepchild has to go and mop the floors while the three other ones go to the ball. Dave Ramsey: I lost you. Are you there? Caller: Yeah, you cut out, I don't know what happened to your phone. That's okay. Sorry, sorry. But like I said, I don't mind them getting the land, that's totally fine, it's family... Dave Ramsey: How much land is involved? Caller: Um, it's only about 33 acres right now. Um, it was his grandmother's land, she sold it, and then his dad bought back this portion and was planning on buying the remainder of it surrounding it, and so my husband wants to buy back the remainder as well if we can. Dave Ramsey: The remainder is how much on top of the 33? Caller: I don't know how much more there is that he would want to buy. Dave Ramsey: what is your personal income and what is his income? Caller: Um, he makes about 65 and I'm making about 55 right now, but we both increase pretty regularly every year. Dave Ramsey: How old are you guys? Caller: Um, 36. Dave Ramsey: Okay. All right, um, well, I don't know that our opinion really matters here, uh, because Bubba's made his mind up. Caller: Yeah. Dave Ramsey: Um, so...

Hecto Crypto | NetLink ⛓

18,333 просмотров • 25 дней назад

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 ♠️

424,612 просмотров • 27 дней назад

Caller: I've been driving for Uber and Lyft and I financed two vehicles. first one I financed was a Honda CR-V for $60,000. I bought it at the at the peak when prices were so inflated. Dave Ramsey: You financed a Honda for $60K to drive Uber. Caller: Correct, I got advice from other drivers. They said i can really make good money. Dave Ramsey: You got financial advice from other Uber drivers? Caller: Yeah, because they were doing it. Dave Ramsey: Wow, okay. Caller: Yeah, it was just a regular SUV. I made good money at first, about $2,700 a week. But then Uber ended the Uber Green program for most hybrids, and my earnings dropped by $500 or $600. Other drivers told me I needed to level up to an XL vehicle, which is a three-row SUV. Jade Warshaw: So did you trade in the CR-V? Caller: No I went to the dealership and put down $30,000 to get an Acura MDX because I had savings of $50,000. Dave Ramsey: Why? Caller: Because the dealership was like, if i take it, there's like a lot of negative equity. So I was like maybe I should take it, maybe I should just keep this car and just disperse the miles. Jade Warshaw: So what did you pay for the MDX? Caller: About $54,000. Jade Warshaw: Oh Lord! Dave Ramsey: How old are you? Caller: 29, sir. Dave Ramsey: Okay, do you have a real job yet? Caller: I did at the moment, but I wasn't making the kind of money that I was making doing Uber and Lyft. Dave Ramsey: No, you weren't making any money doing Uber and Lyft because you haven't been smart enough to factor in all the losses on your vehicles. Caller : Right. Dave Ramsey: When you factor that in, you didn't even break even. And by the way, you didn't take out gas and and repairs either, did you? No. Dave Ramsey: By the time you do all of that, you didn't even make money on all of this. You've been working for free for Uber.

Caller: I've been driving for Uber and Lyft and I financed two vehicles. first one I financed was a Honda CR-V for $60,000. I bought it at the at the peak when prices were so inflated. Dave Ramsey: You financed a Honda for $60K to drive Uber. Caller: Correct, I got advice from other drivers. They said i can really make good money. Dave Ramsey: You got financial advice from other Uber drivers? Caller: Yeah, because they were doing it. Dave Ramsey: Wow, okay. Caller: Yeah, it was just a regular SUV. I made good money at first, about $2,700 a week. But then Uber ended the Uber Green program for most hybrids, and my earnings dropped by $500 or $600. Other drivers told me I needed to level up to an XL vehicle, which is a three-row SUV. Jade Warshaw: So did you trade in the CR-V? Caller: No I went to the dealership and put down $30,000 to get an Acura MDX because I had savings of $50,000. Dave Ramsey: Why? Caller: Because the dealership was like, if i take it, there's like a lot of negative equity. So I was like maybe I should take it, maybe I should just keep this car and just disperse the miles. Jade Warshaw: So what did you pay for the MDX? Caller: About $54,000. Jade Warshaw: Oh Lord! Dave Ramsey: How old are you? Caller: 29, sir. Dave Ramsey: Okay, do you have a real job yet? Caller: I did at the moment, but I wasn't making the kind of money that I was making doing Uber and Lyft. Dave Ramsey: No, you weren't making any money doing Uber and Lyft because you haven't been smart enough to factor in all the losses on your vehicles. Caller : Right. Dave Ramsey: When you factor that in, you didn't even break even. And by the way, you didn't take out gas and and repairs either, did you? No. Dave Ramsey: By the time you do all of that, you didn't even make money on all of this. You've been working for free for Uber.

Traeyz ♠️

83,589 просмотров • 1 месяц назад