Do I Have Too Much Money In The Bank?
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- เผยแพร่เมื่อ 21 ก.ย. 2024
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When he called her a millionaire you can just tell her whole day got a bit brighter. Very inspirational. I hope this nice lady is still alive and living her best life
People saying “Whats the point of saving all that $$$ when you’re not spending it” well she owns her house, owns her car and spends it travelling. All of us are still broke and in debt. Sounds like people are jealous of her. I’m 22 and want to be like her. I bet she sleeps very well at night knowing she is so secure financially.
I agree and I am frugal like her and keep hearing the same statements from people who are BROKE. Excuses, excuses for not wanting to save.
@@StrayingCat The point really flew over your head?
That is something I've always had a pet peeve with.
If a rich person spends money, "WHY DID YOU SPEND IT ON THAT?!",
if a rich person DOESN'T spend money, "WHY DON'T YOU USE IT?!". Like gdamn, get your own money and spend it your way if other's people's lives bother you that much XD
Yea she's also been single her whole life and never had kids. That's a HUGE advantage in saving.
@@wadeharris348 Not the single part if you have someone with the same or similar values on money but kids 100% they would have drained her savings rate. Its much harder to save while having to take care of kids.
77... go on a trip for the rest of your life
Right
Move into a cruise ship suite
Nah she won’t, people like this are petrified spending freakin $10, they die rich without spending anything hahaha what a life
@@vinniedeluca2188 - Exactly! What was the point of it all?? Just so she can whisper, "I'm a millionaire!" to herself when she's too old to enjoy life anymore anyway?! It's like an OCD fetish.
noooo omg a vacation once or twice a year sure but she likes having her place to come home to with everything just right, she could never do that type of traveling like you do
I am 54 and single now after being married for 25 years. Worked as an engineer for 30 years. $1.2 million in tax deferred accounts. I maxed out the 401k since I turned 30. Hoping to retire soon while I am still healthy. No point in dying rich.
Jake Jake dang you need another wife?😂
Jake Jake spend your money and enjoy life traveling
1.2 million is plenty to retire at 54 i'd say. Idk what type of income you're used to, but you could easily take 5% annually from your money (assuming it's in some sort of index/mutual fund) and keep it growing until you die. That's 60k a year.
Go and married her Jake
If you have kids or nieces and nephews you like theres a good reason to have money when you die. Could pay for their college or whatever to better your families lives when you keel over
I love the conversation between them, very friendly and fun. You can tell he's genuinely enjoying the call.
No point in being the richest man/woman in the graveyard.
Yeah...she needs to spend it on drugs lol
NICEST PLOT IN THE GARDEN..! lol
😂😂😂
Trust me......George Soros has got that covered.
There are no rich people in graveyards. As a matter of fact, there are no people at all, except for visitors. By the time someone dies that money becomes some else's or no one's.
We have a single millionaire... FINALLY. I’m so proud of her!
I'm a single millionaire. I'm also a left wing, atheist, nut job.
@@denvercatwoman6561 My twin, ha!
I love her! I am 27 and I hope to be her when I’m 70. Comfortable and happy in a retirement situation with dignity
Don’t get married lol 😂
Most important thing she says In this video was 1. I started saving when I started working and 2. I don’t like spending a lot of money... regardless of her not having kids etc she still would have been a millionaire because of those two key points
What a lovely lady, please have her back on the show sometime, she's an inspiration.
Starfish1 she’s probably dead
She single lol? Need to get that number
Ice Fishing Gold digger
Lol
Hahaha stupid lol
There’s a Kanye song for that
@Benjamin Mathew who will do the same to you... trickle down economics! Lol
Open a new account at a second banking institution to put the $35,000 in, in order to have it FDIC insured. The FDIC insurance covers up to $250,000 for each institution, with no limit on number of institutions.
This lady was no doubt smart with her money. However one factor that helped her save all this money was because she had no kids. That certainly makes a big difference to her budget.
janoos24 Kids can be very spoiled when it comes to this mainly because of peer pressure. Definitely true if the parents don't raise them right and practice what you preach.
Another reason not to have children
Also making 90,000 a year didnt hurt.
She also didn't have a husband to share expenses with.
@@aleithiatoews6452 a husband could mean more income
So inspiring! I love this type of video! ❤️
Thanks Flavia!
Flávia Calina! Estou aqui assistindo pq vi sua indicação em um vídeo semana passada com a Nath. Estou amando o Dave rs está me ajudando muito! Obrigada pela dica.
Flavia Calina uvblhm
@@user-zm8hv8py5y - Oh yeah - I’m sure he’s a peach.....😂
Who the fuck are you? Flava Flav.
He should have told her “Granny, it’s time to start SPENDING that money and treating yourself”
I mean I made a lot of money in my 20's by saving and investing. But when you have a family to support it changes the game. I'm not saying what she did was not impressive, because it is, but she never had kids. Sometimes you have to peel the onion and see how she did it.
well done Helen! this is so inspiring! great advice too!
No I t you yyyeyw we
i guess im randomly asking but does anyone know of a way to get back into an instagram account..?
I somehow forgot my login password. I love any assistance you can offer me
@Abdullah Chris instablaster :)
@Denver Elisha Thanks so much for your reply. I got to the site through google and Im trying it out now.
Takes quite some time so I will reply here later with my results.
I love this... A perfect example of what it means to ACT YOUR WAGE. Thank you for the continued inspiration and leadership, Dave. And thank you Helen for sharing your experience and success as a lesson for younger individuals like me to live buy.
Secret to live a happy retirement with no money problems: 'Stay Single'
Happy retirement and happy life. Stay single.
Once I saved $100,000....I opened an account at another bank and started saving again.
Explain
@@SportsSimp otherwise it's above the FDIC insured limit
She's 77 and doesn't spend money. What was the point of saving it?
Financial security.
And to leave it for family (nieces,nephews) so they have an even better life than you did.
Exactly, it's completely pointless.
If you make it to 77 and you are in good health, there is ever reason to believe that you'll make it to your mid-90's. Given that she'll probably never work again, that has to potentially last her another 18 years. And, those miracle prescriptions that they develop to keep us in super health can be $500-1200/month until the patents expire and generics come out.
Security and peace of mind? Legacy? Generational Wealth? Everybody doesn’t get off on buying every stupid thing marketed to them or consuming.
Ramsey you are a godsend. teaching people with youth on their side like myself how to take full advantage of it with compounding interest and investing. thank you
I'm now 100% debt free personal and business. step 3b is in action.
Congrats ,it's the best feeling
Yeah, congrats!
I'm just a kid (11) and I already understand the economy and all these debt traps. My goal for life is to not get any debt. (Probably gonna get a Credit Card for the points and I'll make sure to pay it off fully every month)
Credit cards will catch up to you when life happens. You don't understand that yet.
Confederacy Of Independant Systems
This is awesome, you know you’re in a good place when Dave starts asking about things other than finance!
While I know the formula to get to retirement, as a single woman with zero intention of marrying, this call was SO INSPIRING! Thank you, Helen, for the reminder that I don’t need spousal income to become a millionaire. You are the true definition of goals!!!
Always good to hear from someone who was responsible and frugal and made it work for their retirement. A true financial success story. Thank you for sharing.
Frugal??? You cant buy happiness and peace. THATS the problem---people think they can and then end up hurting financially in their later years.
No kids tho
What’s the point
OMG, this is amazing. I am in my 30's and no where near that. I am at Baby Step 2. Student Loan is my biggest debt. What an inspiration.
Vote for Bernie Sanders and you will frog leap to Step 3. Your student debt will go byy bye...
CellGames2006 vote for Bernie and no one will be successful.
@@CellGames2006
Sanders cannot get rid of student loan debt. All branches of the government need to vote on it and then it needs to be constitutional so the supreme court may get involved.
Santa Bernie cannot make it wish away.
Single her entire life... ha, that's the key!!! LOL!! 😊😊😊
LGnLA exactly that why I'm never ever getting married.
actually, I believe NO KIDS is the KEY.... A happy duel income does not hurt either
=-)
Wonder how many cats she’s got 🤔
I’d prefer poverty to loneliness, geez.
And no shopping!
Huge respect to her. Not married her whole life and doing that is very impressive. However, like others have said, who cares how much is in the bank if you aren't gonna spend it? She basically donated that money for years and years to the banks and everyone else, and got "nothing" for it. What's her plan now? Get older and sicker, and give all the money away to the doctors and pharmacy companies? Everyone enjoyed the money except her.
Yenitza García That’s 0.0006% of her total net worth.
Well did say she had a sister and she might have children. So generationally it will be enjoyed. And you dont have to be sick to die.
Is it because the money lost value over time so the bank made more money off it?
Why don't you mind your business whether she enjoys her money is her business congrats to her worked hard all her life very great.
She at least changed her family tree, or will help someone else.
I thought I'd never comeback to Dave Ramsey, but after I started to make money I wanted to make smart decisions. These stories remind what I want at the end of my days.
I’m 50 in a similar predicament but I’m not letting most of my money sit in a savings account making barely nothing. Money doesn’t buy happiness but it is security . You should spend it once in a while and enjoy life but be disciplined. I have a paid mortgage and no debt. I still work. I like to be productive. I have less in the bank but some liquidity and have more invested in different portfolios some in single stocks, mutual funds( large caps, mid caps, and pacific mutuals.) bonds. Also maxed out what my employer will match me for a retirement vehicle that’s offered. Money helps in life but should be used wisely as a tool in a tool box and well cared for but not worshipped.
I am so glad i found Dave 5 years ago.Life has been much more different in a good way every since ! I Remember saying to myself,Who is this crazy guy on the radio ??? That kinda stuff is only for rich people.I was wrong.My eyes were open to the real truth.
This awesome lady was "doing Dave Ramsey" before Dave Ramsey even was even legit!
At 77yo START SPENDING IT before it’s too late!
I disagree. I agree she should spend a bit of money but her habits was what made her rich in the first place. Spending money doesn't always make people happy. Having piece of mind and not have money issues is what makes people happy. Being able to do what you want to do make's you happy but it doesn't mean you have to always spend money to achieve it. I travel but I always budget and have reasonable price heavy foods. When you get older, things change and you might not want to spend as much money because you don't get the enjoyment, you get when you were young.
I really liked this call.
Listening to Helen's story gives me the inspiration that I can be a millionaire too if I start to save more per month.
You only need to save around $20k per year for 50 years.
@@CellGames2006 not even close, compounding interest
@@CellGames2006 Or put just 20k into a mutual fund and watch it grow over $1million in 50 years
Not to be that guy, but I have seen this happen several times. Older person saves their butt off and lives a mediocre life. They die and leave an inheritance to relatives who blow through it. As my dad says... fast money often spends fast.
My advice to Helen would be go live today. Go travel and mark off bucket list items. Give some to those in need.
Give to those in need so they can spend it fast? 🤔 Or I can give to my family so they can get a jump start on financial peace.
@@jnis17 give to those n need could be as simple as paying rent for a single mom.and kids for a yr or donating food or buying clothes for homeless people.im.sure her family members aren't poor and they will still b left with most of her money
+Ryan
The alternative to being retired with plenty of money and not spending it is being retired poor and needing to spend it for what every reason.
Imagine being 77 years of age and needing to repair her house and having no money.
She is happy. Maybe a lot of you will realize that money doesn't make you happy. It just eliminates stress over money worries. Congrats to her!
I have seen the same thing too. Decent people save up all their lives, live in nice clean home, one dies, the other dies within a week, nice funeral, and the God awful relatives turn the house into a party house and snort all the money up their nose in a week!
I'm studying to be an RN, this is amazing! So inspiring! ❤️
Yeah, I said it
Inspiring , if you don't want a family or a life just so you can have a million in the bank .
Did you graduate? If so, congrats!
So much respect for this woman. What an awesome phone call. I needed this today!!!
This woman is my heroine of the day! God bless you, Helen!
Athrough Z so smart financial decisions for years had nothing to do with it?? All praise Allah, or whatever god you believe in!
It seems she traveled quite a bit
Her not thinking about being a millionaire -- aka living very simply -- likely is the mindset that led to this amount of cash in the first place! Good for her!!
I’m a nurse and single mum. I’m not a millionaire but I do own my own home since I was 40yrs old, I’m 52 yrs now. I’ve never had a credit card in my life. My mission is to teach my daughter how to be a saver !
sounds like she says $150,000 guarantee, the FDIC limit is $250,000
Plus the FDIC limit is per bank so if she's actually over the 250k limit she can move the extra money to another FDIC-insured bank.
That's what I thought, but I was unsure. Of course, I'm in my early 20's and don't have that much money to be concerned with keeping current on these types of rules ;)
It's not per bank - it's per account at the bank.
I think she said she was about 150,000 OVER the limit. So approx. 400k? That's alot of money.
...why didn't she just use multiple banks?
I'm in the same place as Helen, but still working and a bit younger. Too much in checking, own home, no debt, live well beneath my means. Good job, G-d bless!
I think a fund like Vanguard Wellesley Income would work well. 60% investment grade bonds and 40% dividend paying stocks.
She has such an old style voice, like what you used to hear in the films. Bless her.
So nice to hear from someone who made good choices in life.
Helen has been very responsible and she sounds very happy, unlike the many irresponsible spenders we usually hear. Much respect.
She is an inspiration but at the same time, do you really want to wait that long to start enjoying your money?--she is 77!! most people do not even live that long...I say this because I work in a hospital where we are keenly reminded of this every day. :-I Dave, Suggestions on getting out of debt (student loans) but not waiting to enjoy life until you're nearly 80?
Spend time out of the hospital, where I'm reminded that people also live long lives. The thing is that there is no such thing as get rich quick outside of gambling. Also, you don't need to start enjoying your money after you have a million. A paid off house, car, and minimal expenses can allow your younger years to budget a nice "fun money" category as you continue to build wealth.
Now that I am retired, I am able to donate money to my favorite charity.
This is my favorite call of all time! Helen is awesome!!!
Katherine S Cutie 😉
If you do things wrong and try chatting with Dave, you get scolded and cut off. If you are doing everything right, you get to chat with Dave. That is inspirational as is
Moral of the story IF YOU WANNA BE A MILLIONAIRE be single for your whole life.
To be happy , have no kids
False. I'll be a millionaire, family of 4, not making much money, spending and enjoying a lot of it, a lot of family time, one main income, just sticking to small investments at regular intervals over several decades. Simple.
@@Idiotsincarshere bs. Definitely don’t believe you.
@@ernestogalvan143 Don't. Do a compound interest calculator. $200/week x 52 weeks x 40 years at 7% = $2M
@@ernestogalvan143 If you can't save that, you're spending too much or not making enough. Live below your means.
To each their own, nobody is wrong for having kids, nobody is right for not.
You wanna be single your entire life, do it.
If you want to be married and have a family, do it.
All we have is this one life so live it how you choose, nobody is right or wrong here.
this lady is one smart woman :-)
Valentina D. Yes, she will die rich! All her life savings will go to someone else, who will feel like they have won the lottery and blow it all.
Sonething else I would hate is for people to fight over my money. All they cared about was my money not me.
@@Smileyyy21 well then i dont see why did she save all her money up till she almost dead, she could of enjoyed it a bit when she was younger, i dont see the point of saving till youre 80 and then all of it will go to someone else, who 99% of times doesnt know how to manage finances and will blow it all... sad
Yep and she deprived herself all her life from buying things and going places and will die giving all that money to someone else to enjoy. Not that smart I would say
Sounds dumb to me. Why not enjoy some of the money? We're all gonna be dead someday.
I have listening to men and woman in 20s-50s that have NO common sense on here. This Woman here is more of an inspiration then any other episode I ever heard on here. You NEVER know who you're talking to on the street!!!
I absolutely love this lady. I learned so much from her in this short video.
Love her! From a fellow nurse... RESPECT ✊
I hope she continues to spend some and enjoy what life she has lift 🙌🏾💪🏾
I’m the 27 year old that’s is learning from this 77 year old. I’m really happy I watch Dave Ramsey on TH-cam.
VERY inspiring!
Geekdom101, Nice taste in videos!!!
Geekdom101, nice to see you! Ultra instinct geekdom
Geekdom101 hey man!!! I didn't know you watch Dave ! Cool dude .
Geekdom101 😂
Haha nice to see you on here Geekdom! Long time TH-cam fan of your videos! Good to know you’re on the Ramsey wave.
Its fantastic that this lady is financially secure and will never have to worry about making ends meet etc. Its awful seeing the older generation struggling. I actually find this video quite sad though. My advice would be to start enjoying it more! Having a huge amount of money is no use when you are pushing up daisies.
The key word: single
And no Kids!
And old
Not really, though. It's way easier to save as a married couple if both work.
I’m 38, never married and no children and my net worth is $800k
@@annatar6453 🧢
This is one of my favorite calls I’ve listened to!
Some people seem to think you have to be obsessed with money to end up with a million dollars when actually it's just something that happens naturally if you live below your means. I'm retired with a net worth well over a million. I've lived on four continents (very frugally) and traveled in over 20 countries. I never made anywhere near as much money as this lady, but I prefer to cook at home and live simply. I'm generous with my money and if there is something I want to buy, I buy it. Believe me, there is nothing sad about having plenty of money in old age. Live below your means people. I'm also a leftwing nutjob or whatever rude epithet it is Dave calls us.
Caller: I'm 77, never married, all this money and I don't spend.
DAVE: GREAT,you killed it!
Me: your going to die in 5 years, probably never really enjoying life, just working. The state will get all your assets!
U.S. gov, texas: thanks Lady!
Love her!! Great call... I'm an RN (Advanced practice) also and I'm extremely grateful for my career❤
We have the same problem....to much money outside our investments. Can tell, I'd like this lady.
Her nephews are going to be millionaires lol.
Eddy Lopes one of them is 😂😂
When people say they want the rich to pay their fair share in taxes they’re talking about people with Dave Ramsey levels of wealth. Not 70+ year old retirees with a nice nest egg.
She dosen’t buy anything-- except cigarettes lol
Seriously Helen, you are my SHERO!!!!!!!!!!! YOU GO GIRL.
This woman has a wonderful outlook. Great questions Dave! However she could also open a different local bank account to get FDIC coverage on all of her bank assets.
I was thinking the same thing. Seems like an obvious choice
Hey! I’m a Registered Nurse! Yay!!! I’ll be close to debt free Fall 2021!! Can’t wait!!
I just turned 27 and am going into the medical field haha. Physician Assistant... but I hear you Dave!
Love Helen! I’m a nurse and she made me happy and proud to be a nurse!
can I be your grandchild? lol haha but I am happy to hear someone is killing it like that. She has done well.
She has done nothing but not spend money . Stay single, have no children and work for 40 years you will have a million dollars when you die . Then what ?
@@sarahann530 then alleluiaa
@@sarahann530 Then adopt kids and pass on buck.
@@alesancoeduard8947 So live a miserable life so you can rot in the ground . Good one
@@harshitmadan6449 That should be Horseshit Madan
Bless this lady's heart!
This sweet lady makes me tear up!
I am like Helen, started off with nothing and never made more than 50K in my life and still manage to become a millionaire saving and spending wisely. Now, my pension and SS exceed my normal expenses by 10K and my investment and IRA's remain untouched. People will say that I didn't enjoy my life and I can't take my money with me when I die. I enjoyed my job that took me all around the world and I do have adult children to leave my money. Life is good, but it took good planning to achieve it.
“Good for you, well doneeee” lol
This woman is so inspiring!
77 years old? TIME TO FREAKING SPEND IT!!!
SINGLE PEOPLE - this one is for you! I have heard so many singles complaining that couples are doing this.
This woman is amazing. She’s self sufficient. She needs to learn to enjoy and spend some money.
Open a second account if she's worried about FDIC insurance.
Make sure its a different bank. The FDIC are dicks. Back in 09 when banks failed they paid out the max for one account while some people had multiple.
It means making sure you’re not worrying, at the point in your life when you can least tolerate worries.
Good reply.
"Single my whole life", same bro... same bro...
Good on her! All the best from New Zealand (she mentions us!)
She’s my hero! I’m working on it!
She is a hero and nothing was free
I can't wait to be so financially stable that I can actually ask questions like this.
He should talk about estate planning with her placing items and deciding what she wants as assets that pass under her will. Also, if she doesn’t want to take risk with stocks, tell her to go buy bonds. In addition, older folks have to worry about long term care insurance. She can probably afford it, but she needs to keep that major expense in mind before incurring any expenses.
Why is she calling for advice? She needs to have her own show.
1959 to 2008 is 49 years and her average income was 50k so total income was $2.45 Mil with no obligations towards spouse and children. Knowing that compound interest is literally the 8th wonder of the world, she must have spent a fortune over her life
Helen is inspiring.
I love this so much! Y’all are amazing!
Wow. What a great problem to have. Good work Helen!
I love this call. I hope this lady is doing well.
I like this lady. She's the prototype Great Aunt Helen that's always going out and partying at 80 years old lol
Dave seemed a lot happier here than he does now.
I’m in a similar boat but only age 50. I have 4 years of expenses saved in checking and savings accounts. Feels like I should put some of it to work in a higher yield investment.