I have a close friend that lost his dad at 16 and mom at 19. I go out of my way to help him with home improvement since I’m a carpenter. He is doing well now, but I feel for him every holiday and major family dinner.
Can’t help but be happy for this guy. Has a safety net worth a full year, makes $70k and he’s only 25 with no loans. He’s got the golden ticket. Live life to the fullest king, you’re in a better situation than 95% of 25 year olds
Same here. I appreciate their feedback to him because he is me. I max out my 401k, hsa make six figures. My husband makes double my income but I still freak out over a slight amount of money hein spent
Absolutely same to me. I’m 25 and it’s sad that my parents have to work out of necessity because they didn’t plan very far. I’m getting my Roth set up, building savings, avoiding debt at all costs and paid off my student loans. My goal is to retire at 60-65 and have a house paid for and live off the interest in my retirement account.
I know many people who grow up in a family that struggled financially, and when they got a steady paycheck blow it or live well above their means. I give this young man credit. He's also has a manager who pointed him in the right direction, and again to his credit, took that direction.
Just saw this comment I made 2 years ago. It's January 2024 and I'm set to be debt free by the end of this year. I can see the light at the end of the tunnel and I feel so excited.
Wow that was the best advertisement for Rachel’s book ever! I completely identify with the caller’s mindset because I grew up in a similar household style. Can’t wait to read the book to learn more
Sitting in Nathan’s exact shoes except for the house at age 23 miss my parents everyday but don’t miss their poor spending habits and don’t want to fall into their situations really needed this advice
I feel this one. I’m kind of like him my parents told me to save and save I did. All birthday money for years went into savings. Although I don’t have a house yet since I’m not sure if I’m staying where I am but he’s doing fantastic! Way to go.
When I dont have money it's so easy to window shop and say I'd buy that. When I have money I cant properly gauge the benefit cost ratio and walk away buying nothing. 🤣💀
@Toynbee Yonkers I had a career and very serious responsibilities from safety of millions of passengers to handling radioactive isotopes. Semi retired for ten years and retired 15 years early this year. All about choices.
Fear is a real motivator, and it's hard to let go of. I was paralyzed by fear of messing up after watching my parents get creditor calls and juggle money. You have to learn to trust yourself because I KNOW I manage money better than my family. Ironically, fear can drive great results. I'm in my early 40s, and I'm ahead of where I wanted to be to retire at 60, more secure than I imagined possible, and on Baby Step 6 (while trying to start on 7 so I'm not holding what I have just for me). He's done an amazing job... I hope he'll trust himself to enjoy life a little more along the way. And stay single, dude,.... life is so much easier!
"Half of what HE owns." There's your problem right there. When you are married, you BOTH own the mutual assets. If you divorce, you usually divide 50/50. So how is it guys keep on thinking SHE is taking HIS stuff?
@@jodylarson4697because they’re the man’s assets when he get married, and most often the man is the primary breadwinner of the relationship, so yes, it is his that he worked for. Combining finances is horrible advice
@@jodylarson4697 wrong! What you build together is owned by both. What you have before the marriage is only yours. Gtfo with that nonsense of getting half the stuff for just existing.
@jodylarson4697 Your mentality is the exact reason for prenuptial agreements. If someone obtained something before the marriage then it's rightfully theirs if the marriage ends. Doesn't matter if it's his or hers pronouns. Everything obtained as a couple is to be split 50/50.
Impressed. Not having the safety net of parents does make you think more about being super independent. I hope he now has a line item in his budget strictly for fun/hobbies/vacation, etc : )
I make 40k single and no kids but it's not enough for me. I'm near the city where my job is located so maybe that has something to do with it. Half goes to rent..
I learned the frugality thing from parents who grew up during the Great Depression. People from that era were very much in tune with what DR is saying.
I'm also Nathan from Pittsburgh, but very different circumstances. He's an inspiration, and I hope he can learn to start enjoying life. I hope that I can look to this comment in a year and be in even a similar situation. Starting Baby Step 2!
being someone who entered the job market in 2009 and being broke/underemployed for most of my 20s (thanks housing crisis), it makes me glad to see that future generations didnt have to go through that and younger people are doing better than we did. i didnt get to where he was at until i was almost 30. grats dude.
If your fiance is gazelle intense on paying off his debt then you will be good financially. If you and your fiance disagree on money then you will want get on the same page.
@@TheePrettyGirlSwag I didn’t misunderstand anything you wrote. I added my own comment as a reply in continuation to what you wrote. My comment wasn’t directed at you but as a general statement.
skip baby step five for now, but realize you may have to do it in the future. there is nothing wrong with marriage and / or having children but one or both should happen organically and not be forced. some people hold marriage and / or parenthood in high regard. i disagree. it is a different life path, but neither is an achievement. married people and parents are not superior to singles and non parents, and certainly neither marriage nor parenthood is an obligation
I don’t feel like marriage is for me and the environment nowadays in the US heavily disincentivizes it. When you’ve just turned 30, never been in a long term relationship, and you’ve learned the truth of the nature of women, I just think “no thanks, I prefer to work on myself first” 😂😂😂 Work hard for 10 years to reach a point that I can someday just letting off the gas and begin reaping the rewards
It's good set mini goals within a larger goal and reward yourself when each mini goal is reached. It's really important to have a balance and enjoy life along the ride to that larger goal.
I’m older but relate to caller and say yes don’t be like me and enjoy your money! My husb and I grew up w/caring but frugal(ish) parents anxious about money. I’m an anxious saver/investor vs husb who sees money as just a tool but happy we invested. We do agree on leaving a legacy and experiences. He’s older then Dave and his dream is a Porsche (good used one.) I’d rather build wealth and don’t like spending esp on myself partly for fear of future but I also love investing! Our mortg is pd next yr so maybe we’ll buy his car after. He so deserves it.
It’s about if you grew up in the wealthier group of the people you know or the poorer group. If you grew up with families that had more money than your family, you’ll be driven to earn more as an adult. On the flip, if your peers’ families are poorer than yours, you’ll develop the mindset that you’re alright and don’t need to progress past your parents.
@@dylangreen8018 You must not have a life outside of work. He can do whatever he wants. I’ve been retired early since May doing everything except go to work everyday. I have no schedule. Home paid off. Zero debt. Nothing really complicated here. Going to be cold and rainy today with ice. Just going to workout then relax, play video games,research and maybe trade stocks, and read my sci-fi novel with a few sandwiches, bowl of fruits/nuts, and green tea...... while everyone else have to drive to and from work in that mess.
@@brianevans6328 I disagree. Save with the intentions of it being a college fund, if not, use it on yourself in the future. Could save it in mutual funds or stocks and not specific 529 plans.
@@SilentMagician7 I'd say he's better off choosing to be a bachelor as a permanent choice. Marriage is NOT beneficial to men, in any way, it's about as risky as going to Vegas and betting half your savings on red.
I never understood this anti-family attitude. I LOVE being married and having children. In fact, there's an old saying that the only true wealth in this world is children and I tend to agree with that.
Get your sports car while you’re young dude. You got all the other buckets filled, you’ll be fine getting a nice car that’s less than half your salary. Good job!
@@MelissaandMoney Within reason. Statistically speaking, this dude has 50+ more years to live, so spending money "because your life might end tomorrow" makes no sense from a statistical, and logical, perspective. That reasoning is actually why a lot of people stay broke their whole lives, but that's a different rabbit hole. What Dave is saying is he can afford to "loosen up a little" and add some steak enchiladas to that beans and rice lifestyle once in a while. Life expectancy has nothing to do with this equation.
@@Kcducttaper1 That is why I said responsibly. This guy is definitely not the norm you're talking about. He would have the ability to loosen up, enjoy his life and hit coastFire if he wanted. Obviously he has a great financial understanding of the importance of saving and paying off debt...that is why he is set up so well to begin with. Living your life to just pay your bills is no way to live. Living within your means and creating enough cushion to enjoy yourself is...which is exactly what this guy has done. I think you may have taken what I said in a different direction so I hope this clears it up for you.
@@MelissaandMoney Perhaps I did misunderstand your intent a bit. My point was just to state that the possibility of a person's life ending tomorrow should not be a contributing factor in spending money. I'd never heard of coastFire before, but apparently I'm doing it. lol Sounds like this guy is already doing it too.
I got out of poverty. We were on welfare. I understand exactly what hes talking about. I work all the dam time and then when i finally got out of poverty, I realized it took my entire life to do so....so I never built a life
@@ThePeterDislikeShow That’s no problem. There was a time when I was living in my van and taking sink baths in gas stations doing fine while working and going to school, I had savings,investments,and emergency fund so no issues. Then a $160k/yr career. Was better off than a single mother with kids.on government check.
@@ThePeterDislikeShow They couldn’t be bias against me. Too many guys hammered and preoccupied by child support snd divorce. And I never bothered with the women unless work related anyway.
@@ThePeterDislikeShow um diversify? I have a full time job and two businesses. But to each his own. I wouldn't get married for the extra paycheck. Also the comments on child support if it’s cheaper to raise the kid then you would be, how not wanting to raise a kids erases responsibility is not a thing. Most couples have money issue because they just aren’t in the same page a single person with the right plan and mindset can go far. I actually am better now with money and became a millionaire after I had kids because I paid more attention. Just my story.
I have to learn to treat myself...I have done all the baby steps..56 home paid off...parents never talked about money...besides giving to charity...I am taking a few dollars that I used for paying extra towards the mortgage I am spending only that but I am being frugal about it....
Budgeting for enjoyment items...there’s something I need to adopt...I think when you listen to Dave for so long, it can be very hard to lose the Gazelle intensity. Whelp, there’s my New Years resolution🤷🏼♂️
I've started putting an equal amount into investments and fun, and I know that I can enjoy it because I am building my future wealth, and I don't feel I am missing out on life by investing. Basically whatever my experience/results from each of those activities I know I have put an equal amount into it's flipside (enjoyment vs delayed gratification/wealth)
I will forever appreciate this channel, you've helped me and my family a lot, your videos, advice and lessons are inspirational helpful to us, I now earn every week. Despite the up and downturn in the market system, I'm having the best time of my life financially. I have built my portfolio massively and I still building....
If you're single and know you someday want a family, then sure....i'd see where you maybe should consider saving for kids/college...but if you're like me, and knew you were never interested in procreating (married or not)...then have fun! Or better yet, use that $ on retiring early!!
When you are 50 there are some things you will regret not doing when you were 25. I could have used a lot more of what I'd earned more wisely but have very little debt (including my mortgage) and few regrets. It's important to enjoy life along the way and not wake up one day as an elderly person sitting on a stack of cash you are too tired and frail to get any benefit from.
50 maybe isnt the best number for that example. there are plenty of 50 year olds who run marathons, climb Everest, do extreme sports etc. i agree with your point though.
There are senior citizens who live fulfilling lives. But I guess I get what you’re saying about this guy in particular. Don’t let your situation cause you to not enjoy your life when you’re young.
@@TheePrettyGirlSwag Absolutely, and yes. It's all about balance. My fiancé's parents are seniors living a full life, but his dad wishes he'd done more hiking before he developed arthritis in his hips and knees. I wish no-one has regrets about what they could have done but didn't.
Am I missing where he *asked* if he *should* skip baby step 5? Seems like a no-brainer if you don't have kids to skip it, and he didn't sound like he was questioning that.
I don't know why people make this out to be some huge investment. If you do it right, its not. Wife should stay home and take care of the kids, all additional costs are marginal. youre already paying the mortgage, the heat, the food for the household. Theres not a lot much more to a kid.
@@552mustang You fail to take opportunity cost in the equation. A stay at home mom is not generating income because she is, well a stay at home mom. Let say she stays at home until the kids turn 7 and start going to school. That is 7 years of annual incomes from her side that doesn't exist. Even if she made 30k a year and had to give 50% away in taxes, that is still 105k in pure $$ after those 7 years. Add some compound interest in there at 7% and by the time the kid is 18 you have a difference of 474,366.22 vs 253,326.77 or a difference of 221k dollars. If the mom was making six figures, well, you can do the math on that yourself :P By all means, if you really want to have kids then go for it, but know that everything comes at a cost. At the end of the day, building wealth requires sacrifice just like everything else.
I paid off the house, and then started investing what had been the house payment., while also maxing out the government allowances of IRA or 401K (depending on where I was working). Then do something like taking a nice vacation...or buy a car that you want...or whatever it is that means something to you. I was debating the idea of a rather expensive piece of equipment for my hobby and my friend pointed out that I don't drink, do drugs, or have any other expensive vices, so there was no reason to not enjoy myself with something I'd like. That comment made me look at things differently. Now, at age 69, I have met or exceeded each of my financial goals. That's not to say I didn't make mistakes, but I did enough right that it is all going to be OK.
Unfortunately some people save to the point where only their kids enjoy their money. I heard of old ladies working until they die leaving their kids and grandchildren to enjoy their money.
Disagree...stay intense, you can retire in your 40s with this kind of ambition. Also that EF can be gone with one medical emergency, especially if family isn't around to help out anymore. Done an awesome job so far, no need to take the foot off the gas yet, especially when you're young and have the energy. I would do some enjoyable stuff though here and there. Go on a nice trip or buy the car like Dave suggests, but there's no reason to lose the intensity.
hes 25. Bad advice. Best time to save. he needs to max his 401k, IRA, and throw everything else in a brokerage. These are the most valuable dollars he can have. Maximize that compound interest.
I got a vasectomy in my mid 20's without ever having kids. Now I'm 43 and it was the best decision I ever made. My total debt is $18,800 including my mortgage. I also have a little over 3 months of expenses saved up. My plan is to have it all paid off by the end of 2022.
Makes me sincerely happy to see men saving themselves so much $ and future heartache by choosing to stay single and if they do date, nothing serious. If only I would have figured that out sooner in my life.
Does anybody know, when Dave says put 15% into retirement investments, can thus include employer match? For example, employer matches 6%, so I contribute 9% to get it up to 15.
I think I saw a clip on him talking about this but it could have also been on The Money Guys show. Anyway, it’s probably situational. Many people don’t get any match through their employer though so I would think you can include the match in to that percentage if you want to. Sometimes you can factor in your pension too if you’re lucky enough to get one. I would encourage you not to though and try to save 20-25% of your earned income 😎🤑. Best of luck, you’re on the right track.
Funny how there are so many comments about staying single and child-free. I've been happily married for 11 years and have 3 kids. Obviously it's not for everyone, but don't throw the baby out with the bathwater. For some people it's incredibly rewarding.
Yep. My parents were happily married for 42 years. It's sad that people don't have examples of healthy marriages around them. Getting married/having kids is one of the biggest blessings in life.
@LIVING as MYAANN exactly. They should make it so that every man has to pass a test on family law to qualify for marriage. And calculating child support payments based on income should be part of every boy’s maths questions so they are fully educated.
@LIVING as MYAANN The education has been all around me since high school from divorce r8pe to weaponized child support,etc. and corrupt family courts system.which is why I avoid marriage and single mothers.
@@Mint-kj9kw You post reads like a 1980s soccer mom before divorce and child support. Many good things happened in the past. I don’t live in the past. When YOU get to those 40+ years of marriage with one guy then you can talk about yourself and not this one couple you know. My girlfriend and I have been together longer than most marriages.
So many people commenting that he should stay single. If he is interested in a relationship, he could just find a partner who is equally yoked and continue to build together. I belive building, growing older, and working together to sustain a God centered relationship is a blessing.
my dad brings in 38k a year, he used to make 120k+ but broke his back, he applied for disability but he got nothing. my plan is to buy him a house and car as soon as i am out of med school. poor guy kept his foot on the gas until it destroyed him.
![How To Make Money on Fiverr in 2025 [Step-by-Step]](http://i.ytimg.com/vi/JjfYnygaOqU/mqdefault.jpg)
This guy is 25 with both parents gone..? Wow. Im sorry man youre doing good though, they would be proud.
I empathize with him. Horrible situation.
I have a close friend that lost his dad at 16 and mom at 19. I go out of my way to help him with home improvement since I’m a carpenter. He is doing well now, but I feel for him every holiday and major family dinner.
"Go on a trip" during a pandemic! That kind of advice should be illegal
Pretty common in Pittsburgh, me as well
@@claytonblunt5752 do you ever invite him over for holidays?
The way they are both twirling those pens and staring into space the exact same way. Like Father, Like Daughter! HAHAHAHA
so cute!
I didn't notice that the first time, THATS HILARIOUS 😂
You forgot the part where they cross their arms. ❤️
Hilarious, cannot unsee🤣
Wait is that his daughter???
Can’t help but be happy for this guy. Has a safety net worth a full year, makes $70k and he’s only 25 with no loans. He’s got the golden ticket. Live life to the fullest king, you’re in a better situation than 95% of 25 year olds
Yeah, financially, but he's got no parents. In that sense, he's definitely NOT in a better situation than 95% of 25 year olds.
99.99%*
@@lavienestpasunlongfleuvetr2559bro why even bring that up?
@@hunterhands7930because there's more to life than money
$70k/year in Pittsburgh and single... He's good.
Definitely. Though tbf, having $64k left on his mortgage probably only gives him 40% equity or less.
He’s fine *
I think that’s because he’s single, less expenses 😂
The property taxes in Allegheny county are no joke.
Yes. Im from Pittsburgh $70,000 per in Pittsburgh, he is living really good
The panic of my parents not having money has stayed with me to adulthood.
This is totally normal! Most of our beliefs around money are centered in what we witnessed as children.
Clare Hill ......Yes...so true...I understand completely! I suffered the same. That fear and anxiety seems never to leave you!
Same here. I appreciate their feedback to him because he is me. I max out my 401k, hsa make six figures. My husband makes double my income but I still freak out over a slight amount of money hein spent
Absolutely same to me. I’m 25 and it’s sad that my parents have to work out of necessity because they didn’t plan very far. I’m getting my Roth set up, building savings, avoiding debt at all costs and paid off my student loans. My goal is to retire at 60-65 and have a house paid for and live off the interest in my retirement account.
Just make sure you do something different with your money so you don’t become like your parents, you should invest
Having a family who stressed over money will definitely change how you operate.
All about choices.
I know many people who grow up in a family that struggled financially, and when they got a steady paycheck blow it or live well above their means. I give this young man credit. He's also has a manager who pointed him in the right direction, and again to his credit, took that direction.
I'm one of those unfortunately. I woke up really late.
Just saw this comment I made 2 years ago. It's January 2024 and I'm set to be debt free by the end of this year. I can see the light at the end of the tunnel and I feel so excited.
good job. way to go@@actuallyterry
@@actuallyterry I am happy for you. The year is halfway over. Are you still on track? Just a little motivation 😊
Good caller. Mellow character. Guy has good backbone and will definitely make it in life. Blessings for him and the Ramsey team 🙏🏻
Wow that was the best advertisement for Rachel’s book ever! I completely identify with the caller’s mindset because I grew up in a similar household style. Can’t wait to read the book to learn more
This whole video is an Ad 🤣
Yeah girl
Sitting in Nathan’s exact shoes except for the house at age 23 miss my parents everyday but don’t miss their poor spending habits and don’t want to fall into their situations really needed this advice
12 months in emergency funds that’s awesome 👏🏾
Year and a half for that warm fuzzy feeling.
That happens easily with no kids and spouse.
@@Berserk1Mangaand possibly he has that because his parents died.
As someone that just got out of poverty; the fear of slipping back is real and i can see it getting worse.
Having a good safety net of 6+ months of expenses really eased my mind so maybe that would help you too :)
Hope you’re doing well! :)
25 with this mentality, he’s going places! What a great mindset. He’s doing far better than most people.
Shout out to all the single people who skipped baby step 5!!!
I’m single and don’t even know or want to know what any of that is.
@@blackworldtraveler3711 saving for your kids school :p
@@PapOwnYou
Well that’s horrible.
I only do occasional niece/nephew rental.
@@blackworldtraveler3711 Oh that's a good idea. You take them for the day and you give them back. It's like blockbuster ahah
@@PapOwnYou
Sometimes a few weeks when they are older.
How are you still single?!
Sounds like a great man. Your parents would be so proud.
he's only 25 .
he sounds just like a smart guy.
Married no kids 37 years old. Work for goverment planning on retiring at 55. Just bought a house in the Philippines to retire in
You guys are all prepared.
I'm single no kids and 37. I don't know if I'll ever be able to retire. Lol
Nice.
@@seppyq3672 watch dave ramseys 7 baby steps video 👌
@@seppyq3672 offer your snapper to the local truck stop, offer your services for 50 bucks and you will be fine.
I feel this one. I’m kind of like him my parents told me to save and save I did. All birthday money for years went into savings. Although I don’t have a house yet since I’m not sure if I’m staying where I am but he’s doing fantastic! Way to go.
When I dont have money it's so easy to window shop and say I'd buy that.
When I have money I cant properly gauge the benefit cost ratio and walk away buying nothing.
🤣💀
@Toynbee Yonkers Amen.
@Toynbee Yonkers
One day you'll be a bit older and wish you were younger and had zero worthwhile responsibilities.
ENJOY!
That's correct
@Toynbee Yonkers
Go get it brother!
👍💯
@Toynbee Yonkers
I had a career and very serious responsibilities from safety of millions of passengers to handling radioactive isotopes.
Semi retired for ten years and retired 15 years early this year.
All about choices.
Goals🙏🏼
I can't wait to reach the baby step where I can be generous without worry❤️
Me too 👍
Even just $5 a month to a local animal shelter or something you care about is appreciated and gives you a feeling of generosity. Don’t wait.
Fear is a real motivator, and it's hard to let go of. I was paralyzed by fear of messing up after watching my parents get creditor calls and juggle money. You have to learn to trust yourself because I KNOW I manage money better than my family. Ironically, fear can drive great results. I'm in my early 40s, and I'm ahead of where I wanted to be to retire at 60, more secure than I imagined possible, and on Baby Step 6 (while trying to start on 7 so I'm not holding what I have just for me). He's done an amazing job... I hope he'll trust himself to enjoy life a little more along the way. And stay single, dude,.... life is so much easier!
Just like my fear of marriage and having kids .
Kid is killing it. Great work!!!
He should guard his heart and not fall for a woman that's gonna take half of what he owns. Pray for the right one brotha
He should find someone that makes more than him and has rich parents
"Half of what HE owns." There's your problem right there. When you are married, you BOTH own the mutual assets. If you divorce, you usually divide 50/50. So how is it guys keep on thinking SHE is taking HIS stuff?
@@jodylarson4697because they’re the man’s assets when he get married, and most often the man is the primary breadwinner of the relationship, so yes, it is his that he worked for. Combining finances is horrible advice
@@jodylarson4697 wrong! What you build together is owned by both. What you have before the marriage is only yours. Gtfo with that nonsense of getting half the stuff for just existing.
@jodylarson4697 Your mentality is the exact reason for prenuptial agreements. If someone obtained something before the marriage then it's rightfully theirs if the marriage ends. Doesn't matter if it's his or hers pronouns. Everything obtained as a couple is to be split 50/50.
Impressed. Not having the safety net of parents does make you think more about being super independent. I hope he now has a line item in his budget strictly for fun/hobbies/vacation, etc : )
I make 40k a year which is alot when you don't have a wife and kids to support.
🤣 yeah very true . It seems like the key to life is not having kids and not maintaining a girl /man.
I make 40k single and no kids but it's not enough for me. I'm near the city where my job is located so maybe that has something to do with it. Half goes to rent..
I can agree with that specially if you are not paying any debts, just your car insurance and home or rent payment
@@honeyrose7663
Being single with no kids that’s your choice.
What city/ town? It's all relative
I learned the frugality thing from parents who grew up during the Great Depression. People from that era were very much in tune with what DR is saying.
He’s prospering but in survival mode
👍
Ohh... Yep..
That's me. At 30. Difficult to find balance.
@@calmingbabysleep1256part of it is because we know its highly likely things are going to continue to rise in price
I'm also Nathan from Pittsburgh, but very different circumstances. He's an inspiration, and I hope he can learn to start enjoying life.
I hope that I can look to this comment in a year and be in even a similar situation. Starting Baby Step 2!
Good job Nathan. Sorry about your parents. You are killing it at 25 and will be a multi millionaire in the not to far future.
being someone who entered the job market in 2009 and being broke/underemployed for most of my 20s (thanks housing crisis), it makes me glad to see that future generations didnt have to go through that and younger people are doing better than we did. i didnt get to where he was at until i was almost 30. grats dude.
I know that feeling. Grew up with the fear that what I have earned, will go away. Wishing him all the best also!
I don’t know the feeling at all.
Probably because my money works for me paying income.
Inflation does that same exact thing
Always save but treat yourself
You’re already should be treating yourself by just living your life.
Especially if you’re single with no kids.
This guy vs. the “my fiancé has $200k in student load debt what should I do?” guy from 12/1/2020....
That’s why you need to focus on yourself when you’re young instead of blindly following someone else
If your fiance is gazelle intense on paying off his debt then you will be good financially. If you and your fiance disagree on money then you will want get on the same page.
@@jeremyhershberger3012 my statement is in reference to a caller on a video posted 12/1/2020. But thanks for the financial advice. 😂
@@ThreeNTheMornin my statement is reference to a video posted on Dave’s channel 12/1/2020. That’s why reading is fundamental. 😂
@@TheePrettyGirlSwag I didn’t misunderstand anything you wrote. I added my own comment as a reply in continuation to what you wrote. My comment wasn’t directed at you but as a general statement.
Dave should start a dating site....
Wow he actually should!! Everyone would surely be on the same page financially!! 😁
Either that or a bunch of broke people would realize that there's a bunch of not broke people there. 🤔😂
It'd be overwhelmingly male though.
Or maybe just normalize posting what baby step your on instead of your astrology sign. I’m open for ideas
@@maesancarley699 lol
skip baby step five for now, but realize you may have to do it in the future. there is nothing wrong with marriage and / or having children but one or both should happen organically and not be forced. some people hold marriage and / or parenthood in high regard. i disagree. it is a different life path, but neither is an achievement. married people and parents are not superior to singles and non parents, and certainly neither marriage nor parenthood is an obligation
yeah but normally society thinks they are superior
@@NoahPARK82 "Normal sucks!" Dave Ramsey
I don’t feel like marriage is for me and the environment nowadays in the US heavily disincentivizes it.
When you’ve just turned 30, never been in a long term relationship, and you’ve learned the truth of the nature of women, I just think “no thanks, I prefer to work on myself first” 😂😂😂
Work hard for 10 years to reach a point that I can someday just letting off the gas and begin reaping the rewards
@@MysteriousFuture The same goes for responsible women assessing the available men.
@@genxx2724 well I guess we’re at an impasse and no one seems to have a good solution to resolving the issue.
Gotta make the best of the situation
It's good set mini goals within a larger goal and reward yourself when each mini goal is reached. It's really important to have a balance and enjoy life along the ride to that larger goal.
I wish all our young people had his sense of commitment and honor. Great person!
I’m older but relate to caller and say yes don’t be like me and enjoy your money! My husb and I grew up w/caring but frugal(ish) parents anxious about money. I’m an anxious saver/investor vs husb who sees money as just a tool but happy we invested. We do agree on leaving a legacy and experiences. He’s older then Dave and his dream is a Porsche (good used one.) I’d rather build wealth and don’t like spending esp on myself partly for fear of future but I also love investing! Our mortg is pd next yr so maybe we’ll buy his car after. He so deserves it.
It’s about if you grew up in the wealthier group of the people you know or the poorer group. If you grew up with families that had more money than your family, you’ll be driven to earn more as an adult. On the flip, if your peers’ families are poorer than yours, you’ll develop the mindset that you’re alright and don’t need to progress past your parents.
Rachels face is always funny to me the way she makes quirky smiles 😆 I love it
If I was this guy I would pile up the cash in house and retirement and then plan to be financially free at 40 FIRE baby.
Ok so you retire and then do what?
EL YYEA
@@dylangreen8018
You must not have a life outside of work.
He can do whatever he wants.
I’ve been retired early since May doing everything except go to work everyday.
I have no schedule.
Home paid off.
Zero debt.
Nothing really complicated here.
Going to be cold and rainy today with ice.
Just going to workout then relax, play video games,research and maybe trade stocks, and read my sci-fi novel with a few sandwiches, bowl of fruits/nuts, and green tea...... while everyone else have to drive to and from work in that mess.
@@blackworldtraveler3711 how old r u?
BlackWorldTraveler that sounds amazing.just curious though, what are you investing in to draw a check monthly?
I just read the title and thought: "This is gonna be fun"
Me too
If you have no kiddos you can't do baby step 5. Not really sure why that would even be a question.
@@brianevans6328 I disagree. Save with the intentions of it being a college fund, if not, use it on yourself in the future. Could save it in mutual funds or stocks and not specific 529 plans.
@@jswiz3097 Why is it the parents problem to pay for their kids college? They will be 18. Not the parents problem.
@@tidus9942 It isn’t their problem but it’s also not a problem to save for kids college
Love the way y’all listen ♥️ he’s doing so well in life :)
Smartest thing he did was stay Single with No kids
Definitely. He should stick to that for another 4 or 5 years too
@@SilentMagician7 I'd say he's better off choosing to be a bachelor as a permanent choice.
Marriage is NOT beneficial to men, in any way, it's about as risky as going to Vegas and betting half your savings on red.
@Teddy Black Awesome, thank you brother 😉✌
He’s 25. He still has time for a family
@@michelleg3145 not if he is smart.. stay Single.. if you need an incentive look at all the broke & unhappy people with kids and a family
Lol. When I hear Chris and Dave say you can ease up when you reach baby step 4-6, I turn to my wife and say they are not as dedicated as us.
I'm 35 with no kids not married. With the "kids" money I'm buying property abroad to retire in ✌🏾✌🏾
Omg my dream. Can I ask where?
@@GinaBrittCo Europe. I was supposed to go property shopping this yr but....😞. Hopefully next yr is better
@@princesslamour1985 Call me lol
Also, Never get married OR cohabitate
@@lv5310 😅😅😅😅
When my parents lost everything from 2008 and knowing it could have been prevented from avoiding debt made me angry and scarred.
Your parents lost everything from *buying too much* house, not just from buying a house.
I relate to this guy SO much. Wow. God bless him.
25 yrs old? wow. Wish I was set up like that when I was 25.. he needs to stay single!!
😂😂😂👍
😂😂..great advice.
I never understood this anti-family attitude. I LOVE being married and having children. In fact, there's an old saying that the only true wealth in this world is children and I tend to agree with that.
@@LG123ABC "The only true wealth in this world is children" That must be true FOR you. Some of us think that it's exactly the the opposite.
Better to say he needs to worse when picking a spouse ie take financial peace university together
$70K, single man, no kids, at 25. Well done.
The sky is the limit from there. His parents would be ecstatic for him.
Why is youtube recommending this video to me in 2024? Rachel in jaguar prints! Purring into my heart. More than I deserve.
Hes depressed.
Armchair psychologist much?
@@damianescobedo4143 no, he sounds despressed
@@damianescobedo4143 good input man!
He does sound depressed. I hope he finds help.
maybe he's a little nervous to talk on a podcast
Get your sports car while you’re young dude. You got all the other buckets filled, you’ll be fine getting a nice car that’s less than half your salary. Good job!
Yesss, you should always be enjoying your life...it could end tomorrow! Just do it responsibly!
@@MelissaandMoney Within reason. Statistically speaking, this dude has 50+ more years to live, so spending money "because your life might end tomorrow" makes no sense from a statistical, and logical, perspective. That reasoning is actually why a lot of people stay broke their whole lives, but that's a different rabbit hole.
What Dave is saying is he can afford to "loosen up a little" and add some steak enchiladas to that beans and rice lifestyle once in a while. Life expectancy has nothing to do with this equation.
@@Kcducttaper1 That is why I said responsibly. This guy is definitely not the norm you're talking about. He would have the ability to loosen up, enjoy his life and hit coastFire if he wanted. Obviously he has a great financial understanding of the importance of saving and paying off debt...that is why he is set up so well to begin with.
Living your life to just pay your bills is no way to live. Living within your means and creating enough cushion to enjoy yourself is...which is exactly what this guy has done. I think you may have taken what I said in a different direction so I hope this clears it up for you.
@@MelissaandMoney Perhaps I did misunderstand your intent a bit. My point was just to state that the possibility of a person's life ending tomorrow should not be a contributing factor in spending money. I'd never heard of coastFire before, but apparently I'm doing it. lol Sounds like this guy is already doing it too.
Would love to see his other two Ramsey kids coming on and doing a family special - will be so awesome and historic 🔥
I got out of poverty. We were on welfare. I understand exactly what hes talking about. I work all the dam time and then when i finally got out of poverty, I realized it took my entire life to do so....so I never built a life
Rachel, the red highlights in your hair look REALLY great on you!
Great advice for people with anxiety about money. Spending is also a muscle that we have to learn how train for it 😊❤
I make half he does a year and already enjoying life. This guy is in a great position
3 years later I hope this young man is doing great great!! Id love to hear a follow up call
Only one piece of advice: stay single = stay wealthy
I like it but there's so much bias against singles especially if you work in any white collar field. I wish we had a Single Lives Matter rally.
Not that it's a big con relative to all the pros don't forget you're one job loss from 100% income loss when you're single.
@@ThePeterDislikeShow
That’s no problem.
There was a time when I was living in my van and taking sink baths in gas stations doing fine while working and going to school,
I had savings,investments,and emergency fund so no issues.
Then a $160k/yr career.
Was better off than a single mother with kids.on government check.
@@ThePeterDislikeShow
They couldn’t be bias against me.
Too many guys hammered and preoccupied by child support snd divorce.
And I never bothered with the women unless work related anyway.
@@ThePeterDislikeShow um diversify? I have a full time job and two businesses. But to each his own. I wouldn't get married for the extra paycheck. Also the comments on child support if it’s cheaper to raise the kid then you would be, how not wanting to raise a kids erases responsibility is not a thing. Most couples have money issue because they just aren’t in the same page a single person with the right plan and mindset can go far. I actually am better now with money and became a millionaire after I had kids because I paid more attention. Just my story.
I have to learn to treat myself...I have done all the baby steps..56 home paid off...parents never talked about money...besides giving to charity...I am taking a few dollars that I used for paying extra towards the mortgage I am spending only that but I am being frugal about it....
There ain’t no “makin the baby” step if you’re single.
Feels like this question gets asked a lot..
Budgeting for enjoyment items...there’s something I need to adopt...I think when you listen to Dave for so long, it can be very hard to lose the Gazelle intensity. Whelp, there’s my New Years resolution🤷🏼♂️
I've started putting an equal amount into investments and fun, and I know that I can enjoy it because I am building my future wealth, and I don't feel I am missing out on life by investing.
Basically whatever my experience/results from each of those activities I know I have put an equal amount into it's flipside (enjoyment vs delayed gratification/wealth)
I'm 21 and I was making 65k+ until the first lockdown now I really wish I could sue China for its negligence.
Hahaha 😂
I will forever appreciate this channel, you've helped me and my family a lot, your videos, advice and lessons are inspirational helpful to us, I now earn every week. Despite the up and downturn in the market system, I'm having the best time of my life financially. I have built my portfolio massively and I still building....
Jenny Pamogas Canaya, that's whom i work with look her up and thank me later...
Thank you talking about the Baby Steps helps motivates me!!!
Nathan, you rock!
Truly great video. This might be my favorite. Love to see guys my age doing big things
You are winning. Excellent work
If you're single and know you someday want a family, then sure....i'd see where you maybe should consider saving for kids/college...but if you're like me, and knew you were never interested in procreating (married or not)...then have fun! Or better yet, use that $ on retiring early!!
When you are 50 there are some things you will regret not doing when you were 25. I could have used a lot more of what I'd earned more wisely but have very little debt (including my mortgage) and few regrets. It's important to enjoy life along the way and not wake up one day as an elderly person sitting on a stack of cash you are too tired and frail to get any benefit from.
50 maybe isnt the best number for that example. there are plenty of 50 year olds who run marathons, climb Everest, do extreme sports etc. i agree with your point though.
There are senior citizens who live fulfilling lives. But I guess I get what you’re saying about this guy in particular. Don’t let your situation cause you to not enjoy your life when you’re young.
@@TheePrettyGirlSwag Absolutely, and yes. It's all about balance. My fiancé's parents are seniors living a full life, but his dad wishes he'd done more hiking before he developed arthritis in his hips and knees. I wish no-one has regrets about what they could have done but didn't.
@@Irene-gq4jr yes that’s the word balance.
Am I missing where he *asked* if he *should* skip baby step 5? Seems like a no-brainer if you don't have kids to skip it, and he didn't sound like he was questioning that.
One of the other ways to save A LOT of money (roughly $250,000) is to not have kids. (I personally don’t, nor do I want any) Just saying... 💁🏽♀️
I don't know why people make this out to be some huge investment. If you do it right, its not. Wife should stay home and take care of the kids, all additional costs are marginal. youre already paying the mortgage, the heat, the food for the household. Theres not a lot much more to a kid.
@@552mustang You fail to take opportunity cost in the equation. A stay at home mom is not generating income because she is, well a stay at home mom. Let say she stays at home until the kids turn 7 and start going to school.
That is 7 years of annual incomes from her side that doesn't exist. Even if she made 30k a year and had to give 50% away in taxes, that is still 105k in pure $$ after those 7 years. Add some compound interest in there at 7% and by the time the kid is 18 you have a difference of 474,366.22 vs 253,326.77 or a difference of 221k dollars. If the mom was making six figures, well, you can do the math on that yourself :P
By all means, if you really want to have kids then go for it, but know that everything comes at a cost. At the end of the day, building wealth requires sacrifice just like everything else.
@@Numbers_Game Thank you - exactly 💁🏽♀️
@@Numbers_Game starting school at 7? That’s double the age in UK
Anything changed 3 years later?
Wow !!! 25 yrs old ...great job👍
Congrats on the new book Rachel! Hope it goes wonderfully! :)
Dave is right...give and ye shall receive👍
Whatever you do , don't get married and mess it all up !
I thought I was the only one thinking this😂😂
Hope he doesn't. He's got a bullseye on him to get taken to family court
Or get a prenup.
Introspection is a good thing.
I paid off the house, and then started investing what had been the house payment., while also maxing out the government allowances of IRA or 401K (depending on where I was working). Then do something like taking a nice vacation...or buy a car that you want...or whatever it is that means something to you. I was debating the idea of a rather expensive piece of equipment for my hobby and my friend pointed out that I don't drink, do drugs, or have any other expensive vices, so there was no reason to not enjoy myself with something I'd like. That comment made me look at things differently. Now, at age 69, I have met or exceeded each of my financial goals. That's not to say I didn't make mistakes, but I did enough right that it is all going to be OK.
Caller has done really well!
Unfortunately some people save to the point where only their kids enjoy their money. I heard of old ladies working until they die leaving their kids and grandchildren to enjoy their money.
@Bestgirl 😂I agree
@Bestgirl yeah my Dad doesn't know what enjoyment is.
You can enjoy yourself without spending money. Relationships have a big impact on someone’s happiness.
@@tomw485 you are absolutely right!
@@regb6989 and it gives you something to live for.
Thanks for the advice Dave!!!!
What happens when Dave presses the button? Does it mute the caller
I skipped baby step 5 also. I'm on step 7 minus the give part.
A great video. He will do well in life
Disagree...stay intense, you can retire in your 40s with this kind of ambition. Also that EF can be gone with one medical emergency, especially if family isn't around to help out anymore. Done an awesome job so far, no need to take the foot off the gas yet, especially when you're young and have the energy. I would do some enjoyable stuff though here and there. Go on a nice trip or buy the car like Dave suggests, but there's no reason to lose the intensity.
I've tried skipping baby steps only to be nudged back into them.
Her smile at 1:04 and her eyes at 1:34 lol
@2:57 I heard that sooooo wrong 🤣
Makes me wish I was single with no kids! Don’t get me wrong I love my family, but in envious of this guy!
hes 25. Bad advice. Best time to save. he needs to max his 401k, IRA, and throw everything else in a brokerage. These are the most valuable dollars he can have. Maximize that compound interest.
Yep. Front load investments and then coast.
I got a vasectomy in my mid 20's without ever having kids. Now I'm 43 and it was the best decision I ever made. My total debt is $18,800 including my mortgage. I also have a little over 3 months of expenses saved up. My plan is to have it all paid off by the end of 2022.
Wow I feel sorry for you. Good thing your own dad didn’t do what you did. He was brave. You are a coward.
Makes me sincerely happy to see men saving themselves so much $ and future heartache by choosing to stay single and if they do date, nothing serious. If only I would have figured that out sooner in my life.
You got that right dude 200%
Does anybody know, when Dave says put 15% into retirement investments, can thus include employer match? For example, employer matches 6%, so I contribute 9% to get it up to 15.
I thought it was 15 total, including match.
I think I saw a clip on him talking about this but it could have also been on The Money Guys show. Anyway, it’s probably situational. Many people don’t get any match through their employer though so I would think you can include the match in to that percentage if you want to. Sometimes you can factor in your pension too if you’re lucky enough to get one.
I would encourage you not to though and try to save 20-25% of your earned income 😎🤑. Best of luck, you’re on the right track.
Funny how there are so many comments about staying single and child-free. I've been happily married for 11 years and have 3 kids. Obviously it's not for everyone, but don't throw the baby out with the bathwater. For some people it's incredibly rewarding.
Yep. My parents were happily married for 42 years. It's sad that people don't have examples of healthy marriages around them. Getting married/having kids is one of the biggest blessings in life.
And for other people it’s extremely punishing. This is due to lifetime alimony, no fault divorce and the tender years doctrine.
@LIVING as MYAANN exactly. They should make it so that every man has to pass a test on family law to qualify for marriage. And calculating child support payments based on income should be part of every boy’s maths questions so they are fully educated.
@LIVING as MYAANN
The education has been all around me since high school from divorce r8pe to weaponized child support,etc. and corrupt family courts system.which is why I avoid marriage and single mothers.
@@Mint-kj9kw
You post reads like a 1980s soccer mom before divorce and child support.
Many good things happened in the past.
I don’t live in the past.
When YOU get to those 40+ years of marriage with one guy then you can talk about yourself and not this one couple you know.
My girlfriend and I have been together longer than most marriages.
Don't get involved with a woman if she has any debt at all, or if she thinks you can spend a lot of money on dates since you have no debt!
Truth!!!
So many people commenting that he should stay single. If he is interested in a relationship, he could just find a partner who is equally yoked and continue to build together. I belive building, growing older, and working together to sustain a God centered relationship is a blessing.
my dad brings in 38k a year, he used to make 120k+ but broke his back, he applied for disability but he got nothing. my plan is to buy him a house and car as soon as i am out of med school. poor guy kept his foot on the gas until it destroyed him.
Hope you do well. Don't give up
"Broke his back" is meaningless. (I broke my back, but "just" walked around in a brace for a few months.)
Dave: Wow
Guy: 😶
They didn't answer the question of the video....grr.......someone help? Is it okay to skip baby step 5 or not??????