"Some of the most profound life changing things you will learn in this life are very easy to understand and very hard to do" -Some good words of wisdom right there. I think we tend to overcomplicate things.
I gotta admit, I zoned out at "twenty-six years old and $250k income". Rule of Thumb: If you have to call Ramsey for financial advice, you probably don't need to be investing in single stocks. Me? I'd start rolling those single stocks into a S&P 500 index fund, but doing so strategically as to take advantage of long-term capital gains rates. Build up a $500k portfolio and then you can diversify into other sector funds. This guy also needs to be shopping around for a financial advisor, someone who is not going to be trying to sell him books, budget apps, and financial peace seminars.
@@sadfasde3108 The baby steps are a very simplistic financial plan. However, they are also very rigid in their structure. Basically, they are a big yellow and black book "Personal Finance for Dummies". Dave often ignores interest rates, tax implications, math (when it doesn't agree with Dave's opinion), age / stage of life of the person, ad infinitum. I just think there is much better financial guidance out there than the guy who is trying to sell you merchandise and push you toward service providers who are paying him an advertising fee.
@@lkj0822g unfortunately most of the advice out there is so bad dave is the mcdonalds of finance. it may not be good for everyone long term but it wont give you food poisoning either.
The one “individual stock” you are allowed to buy guilt free is Berkshire Hathaway. BRK-B is essentially a mutual fund that is managed by Warren Buffett and/or people Warren Buffett trusts. It’s not a normal stock in that sense and shouldn’t be treated as such.
He had to have known what they were gonna say 🙄. Sure bro, sacrifice the literal best years of your life to take advantage of compound interest and build future wealth to pay off a fixed rate mortgage on a house you don't plan to stay in long term.
If you don’t plan on staying in your home for long, it wouldn’t be smart to pay off your mortgage. Continue building your savings and investing. Sell the house, I’m pretty sure he’d make a nice return on that. Let the bank get their cut and you take the difference minus tax. He’s in a GREAT financial situation
Doesn’t make sense. He says he puts 15% into his 401k and he also says he makes over 200k per year. 15% of 200k well exceeds the max contribution limit. I call BS, and I don’t mean Baby Steps.
@@dansdrumchannel9239 I just appreciate the show more when they are helping people who truly struggle financially to get out of debt rather giving advice to rich people on how to get richer. It’s just my preference.
@@amireallythatgrumpy6508 I never have new problems when my income goes up. My point was, I enjoy the show when they help people truly struggling rather than financial advice to rich people to become even more rich. It’s their show and it is what it is. It’s my preference, that’s all.
I like how she just told him to cash out his stocks and pay the taxes while he makes kore than enough to pay off his house... Also. Im sure he is a bright guy, but just because he makes a lot of money he is not smart. Juat because someone makes less does not make them dumb. We dont know how he even got that job at 26 years old. Dpes he come from money? Let's not jump to conclusions. Dave just is automatically impressed with people who make tons of money..
Over $100k in savings and bought a $300k house 'a few years ago' and he is only 26 now? Sounds like a trust fund baby or inherited it. How else? Mathematically not enough time to do all that otherwise.
@@stevenporter863 definitely possible he could’ve done it. Has a $250k income, I’ve seen plenty of people do it to know this happens without parental assistance.
The stocks are the emergency fund, also they earn dividends that could go towards the home. Selling them just balloons tax bill. Keep 10K in cash as a buffer and put the rest on the house. There, fixed it for you.
Don’t pay the mortgage down. His mortgage rate is probably rock- bottom, and he said he wants to get a different house in a couple of years. Why liquidate stock and tie cash up in an asset that’s going to appreciate just the same without it? He needs to move the holdings into S&P 500 ETF as someone else said.
More stupid advice. Just pay extra and not pay the tax when you have $250k income and in that bracket. Will pay extra 3.8% ACA tax as well as state (if applicable). Come on.
He actually has the income to quickly pay off his house without taking money from his investments. I need Dave to do the math on the difference between his plan and this gentleman and others just paying down their mortgage with their high income instead of using their investments.
I disagree with a lot here. Most of Dave's money originated from his show and books. I work at a large financial company taking calls and there are quite a few people that call in with accounts over 20 million with a large chunks in single stocks or bonds.
Lol 250k income at 26, cannot be real. These people call in who have a large nest egg and ask grade level questions. Honestly they’re probably bored, so they call in just to flex, or in this case pretend they’re at this high of an income
Man theres no reason to hate single stocks so much. The dow jones is just a basket of 30 stocks. The mutual funds that dave recommends are just someone else picking a basket of stocks. No reason you cannot do that. Read the book "one up on wall st" by peter lynch
Some people can do it (pick single stocks), most cannot. Even the "professional" money managers get it wrong a significant percentage of time. That's why over the years, I've become an advocate of index funds.
Take that money and buy an investment property and then with the cash flow from the investment property if you are so inclined you can pay off your own mortgage.
Paying off the house is not always the best idea. Investing the difference will yield you way more money in return. Having real estate debt is a good problem, not always bad.
I’m a new Financial Rep. I’m not going to argue with the Multi-millionaire that has been rich longer than I’ve been alive. I’m with Mr. Ramsey, pay the house off as soon as you can without touching the emergency fund.
It's fine helping people get out of debt. But every time they advice people to cash out of their stocks, roth IRa, retirement accounts to pay off low percentage debt like a house loan, I cringe real bad. You don't need to be super religious about your babysteps too, like they are the 10 commandments.
You don’t watch often. Dave NEVER says cash out retirement to pay off a house. He does suggest cash out single stocks because of the risk in single stocks.
I like Dave. It does drive me nuts when he says he's built his wealth on mutual funds and real estate. His fortune is from our unfortune. From TV personality to self production, he's made his real fame and fortune from the viewers/fans. Not hating or saying he's not doing good work, but he needs to be honest about his wealth.
@@weswest8666 Lol I know a 21 year old who is about to become an airline pilot making 60-80k a year... He is my current flight instructor. It's not that hard if you put in the work.
"Some of the most profound life changing things you will learn in this life are very easy to understand and very hard to do" -Some good words of wisdom right there. I think we tend to overcomplicate things.
"Tik TAk".... I'm dead. Dave cracks me up. I hope he does this forever.
Always asked callers what there career is. Thank you.
Instead of money paying for debt and diminishing wealth, money goes into investments increasing wealth. A simple but powerful statement!
Do not sell them. He can use his regular income.
I just turned 25 January and have been making 110k a year and thought I could flex, OMG! Good job fellow bro!
how did you do it? I would love to be making more money from my work
What’s your job
Sweet humble brag
That’s pretty good
TikTak 😂😂😂😂😂😂😂😂
Abandon arrogance in favor of humility and most of life's "problems" go away on their own.
👏🏾👏🏾👏🏾
Real estate has by far been my biggest wealth builder. Mutual funds are OK, but real estate is where real wealth is created. IMO
Tik Tack!? 🤣🤣🤣
tik toxic
Call another show when you get to the investing part.
Money Guy.
Some people like to call up to glamour in themselves and especially to get Ramsey and co to brag on them
I gotta admit, I zoned out at "twenty-six years old and $250k income". Rule of Thumb: If you have to call Ramsey for financial advice, you probably don't need to be investing in single stocks.
Me? I'd start rolling those single stocks into a S&P 500 index fund, but doing so strategically as to take advantage of long-term capital gains rates. Build up a $500k portfolio and then you can diversify into other sector funds. This guy also needs to be shopping around for a financial advisor, someone who is not going to be trying to sell him books, budget apps, and financial peace seminars.
Why do you disagree with what Dave said?
@@sadfasde3108 The baby steps are a very simplistic financial plan. However, they are also very rigid in their structure. Basically, they are a big yellow and black book "Personal Finance for Dummies". Dave often ignores interest rates, tax implications, math (when it doesn't agree with Dave's opinion), age / stage of life of the person, ad infinitum. I just think there is much better financial guidance out there than the guy who is trying to sell you merchandise and push you toward service providers who are paying him an advertising fee.
@@lkj0822g unfortunately most of the advice out there is so bad dave is the mcdonalds of finance.
it may not be good for everyone long term but it wont give you food poisoning either.
Yeah he could pay off his mortgage before he turns 30 and invests for 30 years with a massive income. He’s set if he doesn’t do stupid stuff.
The one “individual stock” you are allowed to buy guilt free is Berkshire Hathaway. BRK-B is essentially a mutual fund that is managed by Warren Buffett and/or people Warren Buffett trusts. It’s not a normal stock in that sense and shouldn’t be treated as such.
Dave, I have a dog. I am not walking through the back yard with no shoes on ever.
He had to have known what they were gonna say 🙄. Sure bro, sacrifice the literal best years of your life to take advantage of compound interest and build future wealth to pay off a fixed rate mortgage on a house you don't plan to stay in long term.
Don't listen to the haters, Jade, you're crushing it ❤
No she isn’t 😂
@@handleyobusiness exactly. She's high energy but not that bright.
Her logic and advice is good but lacks demeanor and personality, so haters will always exist for her. Kind of reminds me of Anthony O'Neal.
@@wordsalad01 agreed!
Everyone bashed George at first too but now he's a fave
This guy just called to brag
If you don’t plan on staying in your home for long, it wouldn’t be smart to pay off your mortgage. Continue building your savings and investing. Sell the house, I’m pretty sure he’d make a nice return on that. Let the bank get their cut and you take the difference minus tax. He’s in a GREAT financial situation
I really LOVE the Dave and Jade combo!!!
Jade is GOOOD
Gotta love Diversity!
I don’t like her nails
How the hell does a 26 yr old make 250k per year
Tik tak! Lol... 😆👍🏻
Doesn’t make sense. He says he puts 15% into his 401k and he also says he makes over 200k per year. 15% of 200k well exceeds the max contribution limit. I call BS, and I don’t mean Baby Steps.
Are you familiar with the mega back door Roth?
They should have an income limit for people calling in for “money advice”. Dude, you make 250k. You ain’t got no money problems.
They're smart enough to realise that having more money creates NEW problems. You aren't.
If you have not read the millionaire next door book, you might want to. It will show you what's wrong with this comment.
@@dansdrumchannel9239 I just appreciate the show more when they are helping people who truly struggle financially to get out of debt rather giving advice to rich people on how to get richer. It’s just my preference.
@@amireallythatgrumpy6508 I never have new problems when my income goes up. My point was, I enjoy the show when they help people truly struggling rather than financial advice to rich people to become even more rich. It’s their show and it is what it is. It’s my preference, that’s all.
@@attentive11 agreed, that seems to be their strength.
Simple is the smart way.
"Tik tak"
I like how she just told him to cash out his stocks and pay the taxes while he makes kore than enough to pay off his house...
Also. Im sure he is a bright guy, but just because he makes a lot of money he is not smart. Juat because someone makes less does not make them dumb. We dont know how he even got that job at 26 years old. Dpes he come from money? Let's not jump to conclusions. Dave just is automatically impressed with people who make tons of money..
It’s not about being “smart” or “dumb”. He just doesn’t yet have knowledge about this.
26 year old flexing 😮
Over $100k in savings and bought a $300k house 'a few years ago' and he is only 26 now? Sounds like a trust fund baby or inherited it. How else? Mathematically not enough time to do all that otherwise.
He did say he makes 250k
@@stevenporter863 definitely possible he could’ve done it. Has a $250k income, I’ve seen plenty of people do it to know this happens without parental assistance.
JEALOUS
@@stevenporter863 You don't think someone that young can make a lot of money?
First question should be what are your interest rates and how long are they fixed. Especially in this day and age.
“I have a relatively new son, he’s six months old.” 🙄
How about: “I have a six month old baby.”
How about"'slightly used?"
He's not going to do what they're suggesting
Annoying when people call to brag
My dad got his foot stuck in a lawnmower 😅
$103k in savings and $50k in stocks. Must be nice.
I wouldn’t do that. Not without asking more questions.
Household income of 250k at 26?
I just need to know one thing.. what job does he have? Because I want learn to do it as well
Same
pyramid scheme CEO🤷♂️
Nothing's wrong with single stocks.
Dave only does expensive mutual funds. 🤦
Absolutely not.
Just diversify and stay long
Peter lynch style
I stopped listening when he said 250k income
Yea a pretty common theme of people doing well are the ones that have a 6 figure job.
Noooo Not the tic tac
Lol, you caught that too...
The stocks are the emergency fund, also they earn dividends that could go towards the home. Selling them just balloons tax bill. Keep 10K in cash as a buffer and put the rest on the house. There, fixed it for you.
Asking Dave Ramsey if something is smart is the dumbest thing you could possibly do!
Don’t pay the mortgage down. His mortgage rate is probably rock- bottom, and he said he wants to get a different house in a couple of years. Why liquidate stock and tie cash up in an asset that’s going to appreciate just the same without it? He needs to move the holdings into S&P 500 ETF as someone else said.
If the house has appreciated, he can get it appraised and get rid of the PMI without dumping more cash in.
More stupid advice. Just pay extra and not pay the tax when you have $250k income and in that bracket. Will pay extra 3.8% ACA tax as well as state (if applicable). Come on.
yea your right. remind me, what's your net worth again?
Dave hasn't found the future on-air talent yet. Rachel and Maloney are the closest to it. The rest have about the same on-air charisma as a good book.
I don’t think they’re good, either. He needs a CPA and an investment broker.
Single stock is far more superior than paying off the stupid mortgage, bad advise
5:20
Depends on the stock. You wouldn't say that about OTLY
Nope. Single stocks are stupid 98% of the time.
@@amireallythatgrumpy6508 You are 100% wrong.
Wold you borrow money to invest in stocks?
Let's go Brandon
He actually has the income to quickly pay off his house without taking money from his investments. I need Dave to do the math on the difference between his plan and this gentleman and others just paying down their mortgage with their high income instead of using their investments.
Your criticism is kind of a non-issue. Since he has such a high income, he could always reinvest the extra income.
Agreed! Especially since he’s not planning on staying in that house for long.
I disagree with a lot here. Most of Dave's money originated from his show and books. I work at a large financial company taking calls and there are quite a few people that call in with accounts over 20 million with a large chunks in single stocks or bonds.
Wow, this guy making a lot money. That’s insane. I hope he didn’t call in to flex
What does this guy do at 26 to make $250k?!
Lol 250k income at 26, cannot be real. These people call in who have a large nest egg and ask grade level questions. Honestly they’re probably bored, so they call in just to flex, or in this case pretend they’re at this high of an income
TikTak 😂
Wow what a income
Dude just wanted to boost his ego
She is so annoying, doesn't even let the caller finish his idea, and she is already interrupting ugh. You don't need to prove yourself so much, lady.
The dude was rambling. She needed to cut it off.
Wonder where she might've got that from 🤔
/s
Slow down Jade and let the caller talk they get one chance to talk it out. That would be kind for you
Caller giving every little detail except his shirt size. He needed to be interrupted since he was rambling in a national radio show.
He loves to brag if he is so smart why he call for help
He's doing decent
LET’S GO BRANDON!!!
Man theres no reason to hate single stocks so much.
The dow jones is just a basket of 30 stocks.
The mutual funds that dave recommends are just someone else picking a basket of stocks. No reason you cannot do that.
Read the book "one up on wall st" by peter lynch
Some people can do it (pick single stocks), most cannot. Even the "professional" money managers get it wrong a significant percentage of time. That's why over the years, I've become an advocate of index funds.
There's enough there that some will do well enough to make up for those that do really badly, so your risk is mitigated.
Take that money and buy an investment property and then with the cash flow from the investment property if you are so inclined you can pay off your own mortgage.
Terrible advice. Just use your income to pay the house off
Your criticism is kind of a non-issue. Since he has such a high income, he could always reinvest the money.
i Agree!
Paying off the house is not always the best idea. Investing the difference will yield you way more money in return. Having real estate debt is a good problem, not always bad.
Dave & Jade are right. Pay off the house now. Utilize the additional cash flow to invest again.
I’m a new Financial Rep. I’m not going to argue with the Multi-millionaire that has been rich longer than I’ve been alive. I’m with Mr. Ramsey, pay the house off as soon as you can without touching the emergency fund.
It's fine helping people get out of debt. But every time they advice people to cash out of their stocks, roth IRa, retirement accounts to pay off low percentage debt like a house loan, I cringe real bad.
You don't need to be super religious about your babysteps too, like they are the 10 commandments.
You don’t watch often. Dave NEVER says cash out retirement to pay off a house. He does suggest cash out single stocks because of the risk in single stocks.
Let's go Brandon!
5:20
school does not teach you about money
The good schools do.
The odd thing is that Dave called it Tik Tak and no on thought to correct him!
It's only odd if you weren't aware he calls it that all the time (because it's tacky)
He does it on purpose
I like Dave. It does drive me nuts when he says he's built his wealth on mutual funds and real estate. His fortune is from our unfortune. From TV personality to self production, he's made his real fame and fortune from the viewers/fans. Not hating or saying he's not doing good work, but he needs to be honest about his wealth.
SRB
how is it going / they same/ but not a lot going on /
👍🏾👍🏾👍🏾
At 26 I was $0
Brokie
another show off caller
How is he showing off? He’s asking for advice. They asked for his income.
Dave hush while Jade explains everything to the caller
The caller had to hush. Jade couldn't get a word in over his yapping. It's Dave's show, so he can say what he wants, and Jade knows that.
1200 dollars a month
✝️🙏
529 is dum
BS fake call from the back room. who would pay this 19yo guy 250K a year? insulting
He’s 26
@@weswest8666 19 26 same thing. a kid. cant figure out simple task like paying a bill but somehow makes 400K dollars a year. fake call
@@weswest8666 Lol I know a 21 year old who is about to become an airline pilot making 60-80k a year... He is my current flight instructor. It's not that hard if you put in the work.
I LOVE IT THAT DAVE CALLS IT TICK TAC. THATS WHAT I CALL IT.. HAHAH..,. FLAKEBOOK IS ANOTHER