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🔊 ... Dave Ramsey vs Millennials ... This guy commenting on Dave Ramsey's "advice" is hilarious. Boomer advice from Dave Ramsey does not seem at all welcome by the Millennial crowd. Is Dave Ramsey just obsolete at this point? His generation just doesn't understand the differences between then and... show more

Wall Street Mav

1,734,612 subscribers

10,752,068 views • 2 years ago •via X (Twitter)

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Anya Rossi• Live Now

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10 Comments

Craig Chamberlin2 years ago

Nothing has changed. Compound interest is still the same. Dave’s advice is just as good as it ever was.

Wall Street Mav2 years ago

✅

Catturd ™2 years ago

Dave Ramsay’s net worth … $280 million Broke millennial dude crying about Dave Ramsey probable net worth - $45.13 Which one to listen to should be a no brainer unless you’re a complete idiot - 😂

MarciJoy2 years ago

This guy just isn’t facing reality. He says boomers got stuff cheap so it’s not fair! Maybe he doesn’t realize that boomers just didn’t complain every time they stubbed their toe - and didn’t expect to have a $200K job and a $500K house handed to them - with no experience.

Wall Street Mav2 years ago

✅✅✅

Crypto After Dark2 years ago

I've never liked Dave ramsey's financial advice, because it takes away your ability to leverage debt. Debt is a great tool as long as it is not abused or used wrongfully.

Wall Street Mav2 years ago

@PresupPerry ✅✅✅

Sunny Po2 years ago

I’ve yet to meet a single boomer who will acknowledge the declining purchasing power of the dollar. Not one.

Shibetoshi Nakamoto2 years ago

boomers have only stupid things to say about finances

Wall Street Mav2 years ago

🔥🔥🔥

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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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CALLER: “Hi Dave, I just inherited $50,000,000 in cash and I don’t know what to do with it.” DAVE RAMSEY: “Who in the world left you $50,000,000?” CALLER: “My parents. My dad was into everything — real estate, car dealerships, private jets.” DAVE RAMSEY: “Okay… first thing. Don’t do anything rushed. Don’t touch it yet.” CALLER: “Really?” DAVE RAMSEY: “The people who have the most fun with money are the ones who give. Wealthy people who give are the ones who actually enjoy it.” A MAN INHERITED $50,000,000 IN CASH AND STILL CALLED DAVE RAMSEY FOR ADVICE. THAT’S EITHER THE SMARTEST THING OR THE MOST HUMBLE THING I’VE EVER HEARD.

CALLER: “Hi Dave, I just inherited $50,000,000 in cash and I don’t know what to do with it.” DAVE RAMSEY: “Who in the world left you $50,000,000?” CALLER: “My parents. My dad was into everything — real estate, car dealerships, private jets.” DAVE RAMSEY: “Okay… first thing. Don’t do anything rushed. Don’t touch it yet.” CALLER: “Really?” DAVE RAMSEY: “The people who have the most fun with money are the ones who give. Wealthy people who give are the ones who actually enjoy it.” A MAN INHERITED $50,000,000 IN CASH AND STILL CALLED DAVE RAMSEY FOR ADVICE. THAT’S EITHER THE SMARTEST THING OR THE MOST HUMBLE THING I’VE EVER HEARD.

Owen

3,933,226 views • 2 months ago

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.”

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_✂️

559,315 views • 2 months ago

I'm 24yrs old, makes $320,000 a month and drive a Rolls-Royce Ghost. Caller: I'm paying $3,200 a month for my Rolls-Royce Ghost lease. Dave Ramsey: What do you make? Caller: About $320,000 a month. Dave Ramsey: A month? Caller: Yeah. I own a digital marketing company. Dave Ramsey: You're making almost $4 million a year at 24 years old? Caller: Yes. Dave Ramsey: Then quit worrying about the lease. If you want the car, buy the car. The bigger issue isn't the Rolls-Royce. It's believing you'll make this kind of money forever. Caller: What do you mean? Dave Ramsey: Digital businesses change fast. What's working today might not be working two years from now. Bank a lot of this money. Invest a lot of this money. Because I don't want you looking back at 24 as the good old days. Caller: Fair enough. Dave Ramsey: Enjoy the success. Just don't spend like it's guaranteed to last forever.

I'm 24yrs old, makes $320,000 a month and drive a Rolls-Royce Ghost. Caller: I'm paying $3,200 a month for my Rolls-Royce Ghost lease. Dave Ramsey: What do you make? Caller: About $320,000 a month. Dave Ramsey: A month? Caller: Yeah. I own a digital marketing company. Dave Ramsey: You're making almost $4 million a year at 24 years old? Caller: Yes. Dave Ramsey: Then quit worrying about the lease. If you want the car, buy the car. The bigger issue isn't the Rolls-Royce. It's believing you'll make this kind of money forever. Caller: What do you mean? Dave Ramsey: Digital businesses change fast. What's working today might not be working two years from now. Bank a lot of this money. Invest a lot of this money. Because I don't want you looking back at 24 as the good old days. Caller: Fair enough. Dave Ramsey: Enjoy the success. Just don't spend like it's guaranteed to last forever.

RealGold⚜️

2,154,218 views • 1 month ago

Caller: I have a gambling addiction. I haven’t filed taxes in five years. About five years ago, I had $200,000 in gambling winnings. After that, I haven’t filed anything. Dave Ramsey: Do you still have a career? Caller: I'm retired. Dave Ramsey: Okay. Do you have any money? Anything? Caller: I've got almost $10,000 in my savings account. Dave Ramsey: But you don't have a nest egg other than your pension. Caller: No. Dave Ramsey: Do you own a home? Caller: Yes. About $13,000 is remaining on the mortgage. Dave Ramsey: What is it worth? Caller: About $300,000. Dave Ramsey: And how much is your pension income? Caller: $95,000 a year. Dave Ramsey: That's good. Are you married? Caller: No. Dave Ramsey: Have you done something about the gambling addiction itself? Have you quit gambling? Caller: I have not. Dave Ramsey: Okay. So whatever we do is going to be a temporary fix because that is going to cause further problems. Agreed? Caller: Yes, absolutely. Dave Ramsey: What kind of gambling are you doing? Caller: Slot machines. Dave Ramsey: Are you lonely? Caller: Yeah. I've been single for quite a while. Dave Ramsey: How old are you? Caller: 61. Dave Ramsey: From working with people addicted to anything, I know that 100% of addicts eventually have financial problems. The addiction consumes every department of your life, including your financials. I can help you with the money parts of it, but it is a temporary fix until you deal with this. It's not bringing you joy. If you were my buddy sitting down over a cup of coffee, here is what I would tell you to do: Step 1: Get in touch with the Gamblers Anonymous folks in your area. Step 2: Find a good local church and start developing a personal relationship with a pastor who can walk with you. Step 3: Find a one-on-one professional counselor to help dig into what is really going on so you can get to the other side of this.

Caller: I have a gambling addiction. I haven’t filed taxes in five years. About five years ago, I had $200,000 in gambling winnings. After that, I haven’t filed anything. Dave Ramsey: Do you still have a career? Caller: I'm retired. Dave Ramsey: Okay. Do you have any money? Anything? Caller: I've got almost $10,000 in my savings account. Dave Ramsey: But you don't have a nest egg other than your pension. Caller: No. Dave Ramsey: Do you own a home? Caller: Yes. About $13,000 is remaining on the mortgage. Dave Ramsey: What is it worth? Caller: About $300,000. Dave Ramsey: And how much is your pension income? Caller: $95,000 a year. Dave Ramsey: That's good. Are you married? Caller: No. Dave Ramsey: Have you done something about the gambling addiction itself? Have you quit gambling? Caller: I have not. Dave Ramsey: Okay. So whatever we do is going to be a temporary fix because that is going to cause further problems. Agreed? Caller: Yes, absolutely. Dave Ramsey: What kind of gambling are you doing? Caller: Slot machines. Dave Ramsey: Are you lonely? Caller: Yeah. I've been single for quite a while. Dave Ramsey: How old are you? Caller: 61. Dave Ramsey: From working with people addicted to anything, I know that 100% of addicts eventually have financial problems. The addiction consumes every department of your life, including your financials. I can help you with the money parts of it, but it is a temporary fix until you deal with this. It's not bringing you joy. If you were my buddy sitting down over a cup of coffee, here is what I would tell you to do: Step 1: Get in touch with the Gamblers Anonymous folks in your area. Step 2: Find a good local church and start developing a personal relationship with a pastor who can walk with you. Step 3: Find a one-on-one professional counselor to help dig into what is really going on so you can get to the other side of this.

Traeyz ♠️

1,051,347 views • 29 days ago

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)

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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 views • 1 month ago

My husband won $1 MILLION over a random scratch off ticket. Caller: My husband stopped at a gas station, bought a random scratch-off ticket, and won $1 million. Dave Ramsey: You're kidding. Caller: We're still in shock. He came home and couldn't even get the words out. Dave Ramsey: So what happens now? Caller: We took the lump sum. After everything, we expect to receive a little over $400,000. Dave Ramsey: The first thing I'd do is stop taking financial advice from Google. Caller: Really? Dave Ramsey: Absolutely. When you're dealing with life-changing money, internet research isn't a financial plan. Before you make a single move, sit down with a qualified tax professional. Learn exactly what you owe. Learn exactly what you have. Then make decisions from facts, not guesses. Caller: So don't rush? Dave Ramsey: Exactly. The lottery changed your bank account overnight. That doesn't mean you need to change your life overnight.

My husband won $1 MILLION over a random scratch off ticket. Caller: My husband stopped at a gas station, bought a random scratch-off ticket, and won $1 million. Dave Ramsey: You're kidding. Caller: We're still in shock. He came home and couldn't even get the words out. Dave Ramsey: So what happens now? Caller: We took the lump sum. After everything, we expect to receive a little over $400,000. Dave Ramsey: The first thing I'd do is stop taking financial advice from Google. Caller: Really? Dave Ramsey: Absolutely. When you're dealing with life-changing money, internet research isn't a financial plan. Before you make a single move, sit down with a qualified tax professional. Learn exactly what you owe. Learn exactly what you have. Then make decisions from facts, not guesses. Caller: So don't rush? Dave Ramsey: Exactly. The lottery changed your bank account overnight. That doesn't mean you need to change your life overnight.

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53,635 views • 1 month ago

Dave Ramsey is a smart guy. Why he doesn’t understand bitcoin or why he believes that people are “Losing their butts by investing in Bitcoin” is beyond me….

Dave Ramsey is a smart guy. Why he doesn’t understand bitcoin or why he believes that people are “Losing their butts by investing in Bitcoin” is beyond me….

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66,232 views • 11 months ago

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I AM DECLARING WAR ON DAVE RAMSEY THIS CLOWN IS ADVISING MILLIONS OF PEOPLE TO AVOID BITCOIN BECAUSE HE DOESN'T UNDERSTAND Dave Ramsey has built an empire telling Americans to budget their way out of a burning house. This is a DECLARATION OF FINANCIAL WAR - a brutally honest takedown of the boomer gospel that’s keeping millions trapped in fiat slavery. BITCOIN WARRIORS, REPOST THIS EVERYWHERE AND SEND IT TO YOUR BABY STEP MILLIONAIRE FRIENDS.

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Adam Livingston

74,547 views • 1 year ago

Father and son built a $3 million business from scratch. Now the father owns 51%, doesn't work in the company... ...but still takes $20,000 every month. The son says he's reached his breaking point. Caller: "My dad doesn't participate in the business anymore. He just keeps taking the money, and I feel like I can't grow the company because so much of the profit goes to him." Dave Ramsey: "You have to separate ownership from employment." Dave Ramsey: "Someone can own part of a company without working there. That's perfectly fine. But someone who doesn't work there should not be getting a salary. You're running a $3 million company. You should be paid like the CEO first." Caller: "Right now we both just take about $20,000 a month." Dave Ramsey: "That's the problem. You've completely mixed up salary and ownership. Get yourself on payroll as the CEO. Then whatever is left is profit.. and profits get split between the owners." Caller: "I agree." Dave Ramsey: "Once that's fixed, then you can have the conversation about buying him out."

Father and son built a $3 million business from scratch. Now the father owns 51%, doesn't work in the company... ...but still takes $20,000 every month. The son says he's reached his breaking point. Caller: "My dad doesn't participate in the business anymore. He just keeps taking the money, and I feel like I can't grow the company because so much of the profit goes to him." Dave Ramsey: "You have to separate ownership from employment." Dave Ramsey: "Someone can own part of a company without working there. That's perfectly fine. But someone who doesn't work there should not be getting a salary. You're running a $3 million company. You should be paid like the CEO first." Caller: "Right now we both just take about $20,000 a month." Dave Ramsey: "That's the problem. You've completely mixed up salary and ownership. Get yourself on payroll as the CEO. Then whatever is left is profit.. and profits get split between the owners." Caller: "I agree." Dave Ramsey: "Once that's fixed, then you can have the conversation about buying him out."

Voss ×͜×

592,979 views • 1 month ago

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.

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.

‏ً

283,174 views • 24 days ago

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 views • 2 months ago

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 views • 1 month ago

This 23-year-old wants to leave his father’s business after his wife convinced him he could make more on his own. Dave Ramsey thought he was forgetting one important detail. Caller: “My wife’s idea is if I was on my own, I could pay my family’s monthly expenses in one day.” Dave Ramsey: “Part of what your company is being paid for is your father’s name and reputation.” Dave Ramsey: “You were running around in short pants while he was building that.”

This 23-year-old wants to leave his father’s business after his wife convinced him he could make more on his own. Dave Ramsey thought he was forgetting one important detail. Caller: “My wife’s idea is if I was on my own, I could pay my family’s monthly expenses in one day.” Dave Ramsey: “Part of what your company is being paid for is your father’s name and reputation.” Dave Ramsey: “You were running around in short pants while he was building that.”

Denji

63,268 views • 1 month ago