I'm in my 30s and struggling so hard. Especially with having enough time. Wanting to have a clean organized house, working out, cooking health meals, spending time with my friends and family ect ect. I feel like I work, eat, sleep, do chores and errands, and if I am really lucky will have a few hours on the weekend to do one of my hobbies. I wanted to thank Bo and Brian for the affirmation that I'm not alone in these struggles. It was something I really needed to hear.
It is a bitter pill to swallow, but unless you create cash flow by putting money to work for you, you’ll wind up exchanging your time for money till eternity.
I started kinda late on saving. Waisted my 20’s leasing cars. I’m focused now. I just turned 32 and currently have $30k in a Roth 401k and $2k in a Roth IRA and close to paying off my current vehicle. No more leasing for me. My 30’s will be focused on saving. 😅
You're doing great! Don't compare yourself to others. Compare yourself from today to yourself from a year ago! As long as you're on the right path it'll be a fun comparison lol
Spending my 20s focused on completing both undergraduate and graduate studies meant that I couldn't prioritize retirement savings as much as I would have liked. At 33, I have about $20,000 saved, which isn't where I hoped to be, but I'm actively contributing by matching my employer's 4% in my 401k. Fortunately, with my upcoming raise, I'll be in a position to maximize my ROTH contributions moving forward with now finally having zero student loan debt as of July of this year.
You were investing into your education (theoretically getting you a better job) instead of the stock market. It’s not a bad thing, it’s just the path you took. The important thing is for you to do what you can to leverage the investment you made into yourself properly.
That's an idea I've been gravitating towards as well. It's surprising to me, but reaching a six-figure income in the next few years is becoming an increasingly plausible goal.@@TheNisgi
33 no debt, 20000 saved, youre far more ahead than you think. Especially if your degree has led to a decent paying career. If you love your job it’s another perk! Congratualtion!
I suspect it might. Every woman I ever dated and my wife are financially illiterate. I plan our finances by myself. It's not great feeling like you are carrying someone else.
@gobot4455 see I like teaching to a willing student. My wife SUCKS with money, but she fully trusts my decisions with finances. I set her up where 15% of her income goes into 401k with a match and she's 23. I said if you just forget about this money, by the time we retire, you'll have about 3.7million. She realized how easy it was when she sticks within a budget and puts a lot towards her 401k
Now into my upper 30s, definitely the hardest so far. Just feels like a grind of waiting until kids are older, house is paid off, keep investing...just day in and day out with very little free time. Having a wonderful time with the family and very thankful for the position we are in, but not really any excitement, just messy lol.
I’ll be 51 next week…I’m screwed but might be ok…my advice to the young people is save a little in your 20’s..just make it a habit…increase it as you get older and make more money..watch out for the trappings in life…ira all fun and games in your 20’s, 30’s, 40’s until you wake up at 50 and you’re screwed..:good luck !👍
youre probably not as bad off as you think. you still have 14 years of working life ahead of you, which is plenty of time to become rich, especially if you have a good income. ive been working for around 5 years and saved $200k on a yearly income of around 70. so it's possible to become a millionaire in 14 years if you get serious about it.
27 years old and I have about 65k in retirement. I’m always looking for ways to save more. Saving about 25-30% of my income right now. My husband and I bought a house last year. I feel like like I’m broke, but in reality, I have more money than most for my age.
After a massive rally in stocks came and yields collapsed, bond yields and the major averages are higher on Wednesday. How do we deal with such market conditions? Typically my $2m worth of holdings go up 8% then lose 20% right after and the cycle continues.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I'm interested in investing in alternative assets but I'm not sure if it's a good idea. Can anyone provide some insights on their risks and potential rewards?
One pro of investing is that it can potentially turn you into a millionaire over night . On their downside, it could also turn you into a poorhouse dweller. All depends on how you handle things So, you know, it's a bit of a crapshoot. If you want to learn more about your options and how to minimize risk, I'd recommend chatting with a financial advisor like Julie Ann Lerch.
One thing that really herlped me when I was starting out was to focus on building a diverse portfolio. Don't put all your eggs in one basket and try to spread out your investments across different asset classes.
Julie Ann Lerch, is just one woman, who has it all, and knows how to make the world of investment becomes a realty, you can always search for her on Google.
0:00-2:00 i cannot emphasize enough the importance of what you said during the intro I came from a developing nation, migrated into the US, and is making a lot more than I do back home. Y’all are still fortunate compared to the struggling individuals on developing countries,
I need at least $2m today to be considered 'wealthy' 20 years ago, the definition of wealth was nowhere near $2m, and in 20 years time, this amount may not be enough, however I do agree that one has to start somewhere, hence I now look to the stock market to fuel my goal.
wise observation, for many years equities and some fixed-income assets have produced yields needed to provide solid income for financial needs, the importance of mitigating risks could be why investors are turning towards advisors for guidance
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
bravo! mind sharing info of your invt-advisor please? tried learning few strategies to profit in this current market, but all of that flew right over my head
I’ve shuffled through a few advisors in the past, but settled with ''Theresa Leigh Detrick" she's the most resourceful, extremely intelligent, cautious, and shows a great deal of expertise, you can vet her info online.
thanks for putting this out, it has truly rekindled the fire to my goal. I was able to spot the site of Theresa Leigh Detrick immediately after searching her online, she seems very professional and well matched for me
Seconded! I'm also in this boat. A lot of my financial planning (right now investing in a second rental property at age 30) is revolving around needing to be self-supporting and not being able to rely on a second income in case of illness or disability.
In the Know your number course- how do you differentiate between an individual and a married couple. Is there a Know OUR number course or is the is course flexible to take in variables for a married couple?
I was considering getting an Aura ring. It is used for sleep tracking and can be used for activity tracking, etc. While I can use my FSA to pay for the ring which is >$200. To be able to use the software you MUST pay $5/6 per month, which the FSA will not cover. After learning that it was a hard no. If I have to pay $5/6 a month on another subscription thing. I would rather invest that money. It is crazy how tempting $5 payment is. This is the whole logic with Starbucks/coffee shops..."it is just a $5 coffee, that is nothing." For most people it is a credit card purchase.
46 I'm glad I have a very strong discipline. Been maxing out 401k since 2005! Travel every year to nice places. Never care to keep up with jones. I just know priorities. $3m is my goal and my best friend (compounding interest) will get me there.
If you don't mind me asking, when you first started contributing to your 401 in 05 (assuming you made less than you do now), how much were you making? I'm almost 24 and am trying to budget for the future and I can't think of a better way other than investing but I'm just unsure of how to budget it out. I'm lucky in that I live at home still so I don't have rent to worry about, but I've had no luck at all finding a job so my current retail gig is the best I've got and luckily they offer a 401k plan and match up to I think 6k? Might be 3k. But due to being part time and having inconsistent hours, I only made about 12k this past year (was also due to college limiting how many hours I could pick up, graduated recently though, should do better this following year) so I'm stuck on how to save up for future things like getting enough to cover rent for a while for when I do move out as I plan to and then have extra money on the side for investments. This all goes out the window if I can manage to find a full time job with my degree but I'm just planning for the worst case scenario ya know? My job search has been pretty dry so I expect myself to be stuck in retail for another few months at least, hopefully not another year but we'll see.
23:40 your scenario is impossible. 230k houses don't exist in most of the country. If they do, they need 50k worth of work, and I mean REAL work like a new sceptic or a roof that needs to be replaced.
0:50 It's nice to know where we stand in the world and I do believe we are blessed; however, when you do a world-wide comparison, wouldn't it be more meaningful to compare the U.S.A. with other First World nations?
I l9ve how you guys look at finance and money with flexibility. Liglfe happens and wrenches get thrown into life. But you guys are not ridged like how some other social media guys are. The flexibility and reasonable and realistic way of looking at finance and financial well being is on point.
Yes but inflation was not as high as now and the price of houses was easy less. Yes income were also lower but not by that much in comparison to today.
I'm 25 and just being boring, I'm contributing my match to my 401k and will have well over a million in that account by the time I retire. Social Security is not gonna last, at the rate our government spends money.
ok, let's see how far behind I am :) on the credit card interest rate note. I have an excellent credit score, by I've never had an interest rate less than 23% edit: you've been doing this since 2006? youtube algorithm, you failed me. I was even listening to Dave Ramsey back then.
I’m 22 years old 3rd year computer science student at Uni, I’m happy that I found this video. I don’t need to be a rich but I want to be a financially independent, will focus on myself to get a good job in IT industry in 2 years and start investing to QQQ or SP500, is that what they are saying right? And I think it’s a good idea folks?
Yeah, we make more in the United States but we are also spending in U.S. dollars, wish we were making money in U.S. dollars but spending in other countries lower value currency, we all be wealthy like that.
The best way to build wealth is to start early. A Teenager’s Guide on how to Invest Like Warren Buffett and Charlie Munger teaches the key principles to their investment success.
I think gross. Their advice on buying a home is based on gross income as well. The way I see it, go with the gross amount over the net amount because it challenges you to save even more money.
All financial advice is usually given in gross terms (Which honestly doesn't make a lot of sense to me given the high variability of a persons net income but its the way these things are discussed).
I think at 50s.. you guys need to talk about spending dials... I don't think its healthy to say i want a house, a vacation house, boats, 2 cars and international travel every year. Maybe talk about being realistic and talk about choosing one or two things you truly care for and dial those up. If you care about your housing, then spend on the one nice primary residence and take local smaller trips. If you care a lot about traveling, live in a small 1000 sqft house and travel... Its fools game to think we can have it all and live it up to no end.... Having boats and trailers and vacay house is nothing but money pits and time anchors.. because when you get older, time gets more finite
That would only be true if their 25% rule was based on getting a 15 year mortgage. Their rule is based on a 30 year mortgage so it's not buying more house than you can afford in their eyes.
I get the video however I'm confused %1can make or break someone for example I invest %93 every paycheck making 44k a year my buddy invest %10 but yet he makes 200k a year
I hear it like this - the % of my income that I save is related to the % of that same income that I will have in retirement - the idea is that whatever lifestyle I have now, based on my income, I can maintain during retirement.
So whats the number for being wealthy at 25?? I’ve done a pretty good job amassing some wealth so far and wonder just how far along I am. Definitely started my messy middle early with a wife, kid and a few houses🤣
You don’t have a free budgeting template?! And thank you for enlightening me that I need to “make more money.” I wish I had thought of that.😒 Duh, that’s what we need help with - how do we go make more money!?! We’re willing to work hard, we just all can’t have the $150k jobs.
I have to disagree. The US has a 10,000 dollar advantage. globally, and yet when you compare the US to say Japan. Which also provided universal health care. It's rather poor. And yet in the US, we have to pay for private health care...So we have not alternative to SAVE. in case we are denied health care and have to pay cash. These savings will be quickly depleted. This is shown in the life expectancy outcomes. You might have more in the bank.. but as an American, you will have to pay for those hospital visits, ( as you get older and sicker) you will need a car, and gasoline. So I think it seems like more but in reality, it's not. The only advantage i really see the US citizens having if they wish to diversify their portfolio is they don't have to think of currency conversion. But then again, we have very affordable health/dental care, or in some cases universally free at the point of delivery.or subsidized medication. We also get free transport at age 60. So I'd rather pay a little more in my TAxes knowing that an insurance company isn't going to deny me or my family or kids, includeing pre-existing conditions, health care.. that's a pretty good deal.
4:27 Bo’s take away from the average $2.8k CC debt and & $6.7k median retirement savings is that “Gen Zers are saving, they have something built up” I think Bo makes a slight leap here given the data cited on retirement savings is a median not a mean. Using a median instead of a mean results in a number that minimizes the number of people who have $0 saved for retirement.
@@nikolavrbanic647certainly possible. Either way it would be interesting to see what % of the group has no retirement savings at all AND has CC debt. I figure it’s a big %. I am less optimistic than Bo unfortunately. Hopefully he is correct though!
The median is a more accurate indicator of the “average” of a skewed distribution. In the situation you have a symmetric distribution of CC debt and retirement savings, then the median is equal to the mean. So I think it’s correct that they use medians as a measure of financial health
That being said, of course there could be some “zeros” in there, but if you had a high proportion of people with no savings and more credit card debt, then the median would reflect that. The median savings would be much lower, and debt would be much higher.
I’m 60 and want to retire in 6 months. I have a $170K annuity, plus a 401k depleted to $200K of money that I’m not sure what I can do with at this point. My retirement plans seem to be out the window. Is it a good idea to get professional help?
With everything going on, consider financial planning, … that is okay. You can get your money to work for you. but I would say delay retirement a little
@@lisaalbert-od5zv I have heard how they can help you make the best decisions and to be honest I don’t want to lose any more money or I will have to work till I die.
@@AlanSiegel-y1c And what if that is all you have, even with SS you may not have enough to retire with. If you opt to work with a financial adviser, Dyor, make sure they are certified by AARP or FINRA.
@@MaureenPearce-si4tf It’s a good idea to look for a fiduciary who has a legal obligation to work in your best interest and can’t recommend products or services just because they’ll receive a financial kickback for doing so. I and my spouse work with a retirement planner, Loren Lena Walker an advisor we met in NY, referred by Danielle Dimartino Booth in an interview. Under her guidance, we split our investments, traditional IRA, and the individual brokerage account where she copies her moves on our account from her master. We have been up by 74% precisely in the past year She rebalanced again when the year began, we still hold cash and are cautious with how much we let into the market at this point.
I wish there was a correspondence between health and finances in my life. My finances are solid, my health is sh!t, despite my labors to maintain my body.
Same! My finances are amazing, but I've been cursed with bad genetics 😂. Hopefully, big pharma can develop something to reverse the effects of generations of bad eating/lifestyle habits. At least we'll be able to pay for it when they develop it.
21:30 I have been in the full time work force (post college) for about 2.5 years now and looking at what I amassed in that time frame I’m actually really proud and happy! Sometimes you need to take this deep breath like Brian said to evaluate if you’re actually reaching your goals! After thinking about it I can’t wait to see what is in store for me for the next 2.5-3 years
In a gen z,(24) i have worked my ass off to invest and get where I an at being a diabetic, (t1) It's been heck a show 3 months ago I was 4500 in debt because uh.. yea trip+everything going haywire while abroad fun. Anyways... ff to today I am making my last payment on my card Thursday. I been in the markets a few years have about 2k in there and 11k in a 401k. Hoping this year to break 5k ..
Was an unexperienced investor and i lost over $30K when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I find one source to recover my money, at least $5k profits weekly. Thanks so much Mrs Desiree Madison
Just recently turned 22 in November, and I graduate college in spring 2024 with a bachelor's degree in Finance. I've worked part time, and will have a debt of $5,500 remaining by the time I graduate (4.5%). The biggest issue for me is going to be housing, because it increases an avg of 6.6% per year but I'm hopefull that I can leverage my education to build a "skillset portfolio" where I can earn a large income. My goals are to retire by 45, and own a main property as well as a vacation home in ventura so my family can visit without paying for a hotel or Airbnb. Based on my estimates, I'd need a combined household income of about $215,000 before tax to achieve my financial goals which seems rather much to me. For reference, I've calculated the cost of living in my area to be about $2300/month per person and a 5 bedroom house to be about $550,000. The house in ventura would be about $1.5M. My calculations are based on a 2.6% inflation rate and a 10% market growth rate and a 12% long term (riskier) growth rate. I guess my question is, are my goals unreasonable 😅
I think unless you have an extremely unlikely boost to income, retiring at 45 and the vacation home can't both happen. A typical starting salary in Finance is 65,000. So, it will be unlikely to accomplish all of those goals.
@@tannerdriscoll6699 I think you have a really good point. The starting salary expectations in my area are closer to 55k , so less than the average 😅. I could quickly build up my career and probably get to about 90k in 3-4 years. If I get married to someone with a similar income; lets assume 70k, I could expect 150k household or 114k Net. That would allow me to comfortably afford the 550k house (assuming 5.5% interest w/ 20% downpayment) but thats still a long ways away from a 1.5 Mil vacation home. I suppose now I gotta find a way to scale the career growth a lot quicker. CFOs make good money but I think starting my own business may be the way to go....lots of risk though.
@@ZT53 ya it’s all a balance. Since you’re not working yet it’s fine to make it a goal and see how it goes. Lots of things could happen. You could be really happy at a job that makes a little less and the stress isn’t worth more money, future wife could have different goals or wanna live somewhere else, etc.
I will say this over and over again. I really don't understand why people only look at 15 and 30 years mortgages. A 20 year can be the perfect middle to keep you aggressive and on track get a little more home and get a marginally lower rate. I would say this is especially true for single people who only have one income. Lets be real not everyone is getting married and having kids today. If I am the median age first time home buyer at 33 would I rather have my house paid for at 63 or 53?
I thought somehow this was an exception episode for Bo said "I am so so excited" without first saying "Brian." But then I realized he just started saying it so quickly that he got interrupted by the intro jingle.
I’m 23, my wife is 21, and we both have about a year and a half left of college before graduating. So far we have avoided going into debt with college between scholarships and budgeting for tuition. However, we don’t have a ton of extra money lying around since we are both only able to work part time while in school. My question is this. With the tiny bit of margin we do have each month of extra cash, what should we be doing with it? We are completely debt free and have a small emergency fund saved with another savings account we use to hold tuition money. We are contributing the employer match to our 401Ks, but I struggle to consider putting more away into retirement than that currently just because I feel like the money we make now goes so much farther spending-wise than it will in a couple years when we have real, salaried jobs.
@cooper Did you watch the part of the video where they talked about the 20's. Follow the FOO bro. Your money now has close to no spending power compared to what it could be later on. Invest as much as you can bear at your age. I promise you will not regret it.
Def invest as much as you can now and let it compound. By doing this you learn early on to live within a budget and not buy useless crap that everyone does.
Follow the FOO. But part of that can be preparing for a major life change. Since you know you will be graduating soon, I’d make sure you have plenty of money to move and get your life started and beef up the emergency fund maybe? Make sure it is 3-6 months of your expected expenses (since they will change very soon). I’ve watched Brian for years and he’s not opposed to stacking cash for major changes. He stacked cash before he started his business, and somewhat neglected his investments for a short time. You have to be very intentional though and make sure you get that 25% savings rate by age 30.
Phones are a lot more expensive. Two decades ago, who would have agreed to paying something like $3800 every 2 years for phones (assuming 2 adults and 1.8 children upgrading every 2 years to the latest), plus $180 a month for the phone plan (assuming $50/line for 3.8 people)? People have a lot more these days, but think they need everything.
I know the rules for buying a house is to live in it for longer, but in the military the standard contract is four years long. With the VA home loans and plans to turn it into a rental property when moving at the end of the four years, does it make sense to buy or just rent until retirement at the end of 20 years in?
Rent until you are in a better position to afford 2 homes. My step dad was military and bought early and we moved and they had to foreclose on the house because it was done too early in his career to afford it.
I had a cousin who served in the corp of engineers and he moved mostly just between three bases, he owned a house near two of the sights and rented when he was at the third base. When he wasn't at a base he would rent it out to a buddy or family. Did that for about 25years now he is in his 50s retired and works on bikes for fun and drives them around in the summertime.
I’ve met a handful of service members who bought houses throughout their careers and I’m not aware of any who regret doing it. The ones who bought before the 08 crash and never did a HELOC or anything are doing great today. Given that will increase the amount of stress in your life, but if you’re listening to shows like this, you’re likely wise enough to invest successfully. The military gives you such a big safety net and network compared to a traditional 9-5 as well.
@christians131 Yeah, investing has never really been a worry for me. Living in the barracks I had minimal bills and have no debt and have been saving a little over 60% of my pay for my first contract. But my second duty station doesn't have barracks and I'm about to move there which is what is causing me to start looking at my options
So I have a AMEX card that pays 1.5% towards my Roth IRA, so I put all my fixed costs on there like gas, internet bill, insurance, etc…. Good or Bad idea?
Why does it matter that they pay 1.5% toward your Roth IRA? You could easily get a card that averages 2% on all purchases and every time you redeem just transfer to your Roth IRA. The main thing is just be sure your pay your cards balance off in full every month. The people really good at this check their transactions like weekly or every other week and constantly pay off the balance during the month. It's really all about self discipline.
Weren't you guys just saying that Dave Ramsey's advice of "The quickest path to wealth is debt free" was poor advice and yet in the first five minutes you say "Debt is a bridge to nowhere"? Seems intellectually dishonest.
Exactly what @@nikolavrbanic647 said. Keep in mind that Dave Ramsey is against *all* forms of debt. The Money Guys lay down parameters for what to do for a mortgage and what to do for a car loan.
I'm in my 30s and struggling so hard. Especially with having enough time. Wanting to have a clean organized house, working out, cooking health meals, spending time with my friends and family ect ect. I feel like I work, eat, sleep, do chores and errands, and if I am really lucky will have a few hours on the weekend to do one of my hobbies. I wanted to thank Bo and Brian for the affirmation that I'm not alone in these struggles. It was something I really needed to hear.
You're not alone, same here. If you have kids, you need to share your secret on finding time (even if infrequently) for your hobby. lol
Stay strong man! Never back down, never give up!
You're not alone bud it's Eat sleep work over here too bud
It is a bitter pill to swallow, but unless you create cash flow by putting money to work for you, you’ll wind up exchanging your time for money till eternity.
Very well said!
Brian, “divorcing families lose 77% of their wealth”
Bo, “I love it”
😂
That's why Bo was so excited for this episode?
savage loool
Definitely a verbal tick that was inappropriately placed lol
made me laugh out loud hahahaha
I love how Brian was trying hard not to laugh too.😂
I started kinda late on saving. Waisted my 20’s leasing cars. I’m focused now. I just turned 32 and currently have $30k in a Roth 401k and $2k in a Roth IRA and close to paying off my current vehicle. No more leasing for me. My 30’s will be focused on saving. 😅
You're fine. Plenty of people don't figure that out until their 40's.
This is the most realistic representation of most Americans.
We buy one lease the family car. Advantages and disadvantages. But if you budget either option can work fine.
You're doing great! Don't compare yourself to others. Compare yourself from today to yourself from a year ago! As long as you're on the right path it'll be a fun comparison lol
U you oh have plenty of time.
Spending my 20s focused on completing both undergraduate and graduate studies meant that I couldn't prioritize retirement savings as much as I would have liked. At 33, I have about $20,000 saved, which isn't where I hoped to be, but I'm actively contributing by matching my employer's 4% in my 401k. Fortunately, with my upcoming raise, I'll be in a position to maximize my ROTH contributions moving forward with now finally having zero student loan debt as of July of this year.
You were investing into your education (theoretically getting you a better job) instead of the stock market. It’s not a bad thing, it’s just the path you took.
The important thing is for you to do what you can to leverage the investment you made into yourself properly.
That's an idea I've been gravitating towards as well. It's surprising to me, but reaching a six-figure income in the next few years is becoming an increasingly plausible goal.@@TheNisgi
Roth IRA and Roth 401k?
Traditional 401k where I am investing pre-taxed and then I have my own ROTh IRA where I contribute post-tax @@Zombiebeast1995
33 no debt, 20000 saved, youre far more ahead than you think. Especially if your degree has led to a decent paying career. If you love your job it’s another perk! Congratualtion!
I dunno, my 30’s have been my easiest decade but I’ve also remained single, so I think that plays a big role.
I suspect it might. Every woman I ever dated and my wife are financially illiterate. I plan our finances by myself. It's not great feeling like you are carrying someone else.
@@gobot4455 this is my fear and why I stay single.
@@gobot4455I’m lucky my dad taught me growing up to never rely on a man for financial stability.
@gobot4455 see I like teaching to a willing student. My wife SUCKS with money, but she fully trusts my decisions with finances. I set her up where 15% of her income goes into 401k with a match and she's 23. I said if you just forget about this money, by the time we retire, you'll have about 3.7million. She realized how easy it was when she sticks within a budget and puts a lot towards her 401k
Now into my upper 30s, definitely the hardest so far. Just feels like a grind of waiting until kids are older, house is paid off, keep investing...just day in and day out with very little free time. Having a wonderful time with the family and very thankful for the position we are in, but not really any excitement, just messy lol.
My wealth building took off after I paid off the house, only 15 year loans , just like car loans, shorter the better and paid off in 8.
I’ll be 51 next week…I’m screwed but might be ok…my advice to the young people is save a little in your 20’s..just make it a habit…increase it as you get older and make more money..watch out for the trappings in life…ira all fun and games in your 20’s, 30’s, 40’s until you wake up at 50 and you’re screwed..:good luck !👍
youre probably not as bad off as you think. you still have 14 years of working life ahead of you, which is plenty of time to become rich, especially if you have a good income. ive been working for around 5 years and saved $200k on a yearly income of around 70. so it's possible to become a millionaire in 14 years if you get serious about it.
“You aren’t a credit card person”; you guys have been loving that Caleb Hammer dumpster fire videos it looks like haha
27 years old and I have about 65k in retirement. I’m always looking for ways to save more. Saving about 25-30% of my income right now. My husband and I bought a house last year. I feel like like I’m broke, but in reality, I have more money than most for my age.
way more. you have more money than most people in their late 30s/early 40s. from someone at 33, KEEP IT UP man youre doing phenomenal.
Yep but don’t forget to enjoy the journey also.
After a massive rally in stocks came and yields collapsed, bond yields and the major averages are higher on Wednesday. How do we deal with such market conditions? Typically my $2m worth of holdings go up 8% then lose 20% right after and the cycle continues.
impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I'm interested in investing in alternative assets but I'm not sure if it's a good idea. Can anyone provide some insights on their risks and potential rewards?
One pro of investing is that it can potentially turn you into a millionaire over night . On their downside, it could also turn you into a poorhouse dweller. All depends on how you handle things So, you know, it's a bit of a crapshoot. If you want to learn more about your options and how to minimize risk, I'd recommend chatting with a financial advisor like Julie Ann Lerch.
One thing that really herlped me when I was starting out was to focus on building a diverse portfolio. Don't put all your eggs in one basket and try to spread out your investments across different asset classes.
Julie Ann Lerch, is just one woman, who has it all, and knows how to make the world of investment becomes a realty, you can always search for her on Google.
0:00-2:00 i cannot emphasize enough the importance of what you said during the intro
I came from a developing nation, migrated into the US, and is making a lot more than I do back home. Y’all are still fortunate compared to the struggling individuals on developing countries,
I need at least $2m today to be considered 'wealthy' 20 years ago, the definition of wealth was nowhere near $2m, and in 20 years time, this amount may not be enough, however I do agree that one has to start somewhere, hence I now look to the stock market to fuel my goal.
wise observation, for many years equities and some fixed-income assets have produced yields needed to provide solid income for financial needs, the importance of mitigating risks could be why investors are turning towards advisors for guidance
Agreed, I've always delegated my excesses to an advisor, since suffering major portfolio loss early 2020, amid covid outbreak. I'm now semi-retired and only work 7.5 hours a week, with barely 25% short of my $1m retirement goal after subsequent investments to date.
bravo! mind sharing info of your invt-advisor please? tried learning few strategies to profit in this current market, but all of that flew right over my head
I’ve shuffled through a few advisors in the past, but settled with ''Theresa Leigh Detrick" she's the most resourceful, extremely intelligent, cautious, and shows a great deal of expertise, you can vet her info online.
thanks for putting this out, it has truly rekindled the fire to my goal. I was able to spot the site of Theresa Leigh Detrick immediately after searching her online, she seems very professional and well matched for me
Lots of your videos have the messy middle 30s. I'm single, and plan to stay single/not married. Will you guys do a video for single people?
I’d imagine it’d be similar to saving in your 20s
Never say never, maybe you haven’t meet the right person yet.
Most of the sea is still undiscovered!! No way to know there isn’t a fish out there for you having only ever seen a few ponds
Seconded! I'm also in this boat. A lot of my financial planning (right now investing in a second rental property at age 30) is revolving around needing to be self-supporting and not being able to rely on a second income in case of illness or disability.
In the Know your number course- how do you differentiate between an individual and a married couple. Is there a Know OUR number course or is the is course flexible to take in variables for a married couple?
I was considering getting an Aura ring. It is used for sleep tracking and can be used for activity tracking, etc. While I can use my FSA to pay for the ring which is >$200. To be able to use the software you MUST pay $5/6 per month, which the FSA will not cover. After learning that it was a hard no. If I have to pay $5/6 a month on another subscription thing. I would rather invest that money. It is crazy how tempting $5 payment is. This is the whole logic with Starbucks/coffee shops..."it is just a $5 coffee, that is nothing." For most people it is a credit card purchase.
Like how you are thinking through it.
Is Bo ever not excited about a topic?
Legend has it that, one time Bo was not “Super excited about this one” and it caused a tear in the space time continuum.
I dread the day he won't be.
He's the Flava Flav of the finance world... The ultimate hype man.
3 constants in life: death, taxes, and Bo is going to be unapologetically excited about a topic he's discussed hundreds of times, lol.
Can we make this graph at 13:07 another Money Guy resource please?
Anyone else just waiting for Bo to not be excited about an episode? Lol
I'll rewatch this for the last however much got cut off in the first upload!
46 I'm glad I have a very strong discipline. Been maxing out 401k since 2005! Travel every year to nice places. Never care to keep up with jones. I just know priorities. $3m is my goal and my best friend (compounding interest) will get me there.
If you have maxed your 401k since you were 28, you will be well over your goal by 60.
@andrewescude4797 I use conservative return %. And hey, I would like to stop working at 55 lol.
If you don't mind me asking, when you first started contributing to your 401 in 05 (assuming you made less than you do now), how much were you making? I'm almost 24 and am trying to budget for the future and I can't think of a better way other than investing but I'm just unsure of how to budget it out. I'm lucky in that I live at home still so I don't have rent to worry about, but I've had no luck at all finding a job so my current retail gig is the best I've got and luckily they offer a 401k plan and match up to I think 6k? Might be 3k. But due to being part time and having inconsistent hours, I only made about 12k this past year (was also due to college limiting how many hours I could pick up, graduated recently though, should do better this following year) so I'm stuck on how to save up for future things like getting enough to cover rent for a while for when I do move out as I plan to and then have extra money on the side for investments.
This all goes out the window if I can manage to find a full time job with my degree but I'm just planning for the worst case scenario ya know? My job search has been pretty dry so I expect myself to be stuck in retail for another few months at least, hopefully not another year but we'll see.
I have a good credit score, almost excellent, primarily held back because of age of account. Most of my credit cards have a rate of around 30%
Doesn't matter if you pay them off every month
"Not a Credit Card Person." I know where you got that phrase!
I think my messy middle will be in my 40s....we got a late start on a family.39 with a 5 year old and 2 on the way
You are not alone.
Congratulations!!!
23:40 your scenario is impossible. 230k houses don't exist in most of the country. If they do, they need 50k worth of work, and I mean REAL work like a new sceptic or a roof that needs to be replaced.
Yeah they are out of touch with reality like a lot of money people.
2024 edition in 2023, you're becoming like the car industry, lol
0:50 It's nice to know where we stand in the world and I do believe we are blessed; however, when you do a world-wide comparison, wouldn't it be more meaningful to compare the U.S.A. with other First World nations?
I l9ve how you guys look at finance and money with flexibility. Liglfe happens and wrenches get thrown into life. But you guys are not ridged like how some other social media guys are. The flexibility and reasonable and realistic way of looking at finance and financial well being is on point.
I don't need to be 'wealthy'. I want to be financially independent.
Similar principles. I think they're trying to differentiate "wealthy" (high net worth) from "rich" (big spender)
same thing
Listening to this should be required for graduation from high school.
Would love it if you put time stamps
I’m 26 and I have about 12k in retirement. I thought I was behind but I’m doing pretty well 😂
Yeah, that’s great, especially if you have other assets, at that age I had less in retirement but I was focused on getting a house
You are way behind :p
You have so much time ahead of you!
@@Zachery_currently just have an Roth IRA and a 401k but I would love to own some property eventually. Hopefully in my 30s
You always want to aim above the median, and you're doing fantastic! Keep it up!
Mortgage rates are still low, I had my first mortgage in 1990 I think like 9 percent
Yes but inflation was not as high as now and the price of houses was easy less. Yes income were also lower but not by that much in comparison to today.
I'm 25 and just being boring, I'm contributing my match to my 401k and will have well over a million in that account by the time I retire. Social Security is not gonna last, at the rate our government spends money.
That's why I can't stand people who live here bash the country. They have no idea how good they have it here!
Ironically, their laziness and entitlement is what prevents them from capitalizing on the resources available in America...
Does anyone know if Bo is excited?
I was 10 mins in yesterday when you guys deleted and reposted. Im back now
ok, let's see how far behind I am :)
on the credit card interest rate note. I have an excellent credit score, by I've never had an interest rate less than 23%
edit: you've been doing this since 2006? youtube algorithm, you failed me. I was even listening to Dave Ramsey back then.
Hey, they found the last 6 minutes!
Yeah, lol. I was hoping they would figure it out. :)
Hah! I wondered what happened
Is it me, or is "The Money Guy Show" sign crooked?
I’m 22 years old 3rd year computer science student at Uni, I’m happy that I found this video. I don’t need to be a rich but I want to be a financially independent, will focus on myself to get a good job in IT industry in 2 years and start investing to QQQ or SP500, is that what they are saying right? And I think it’s a good idea folks?
I wish i had the knowledge since I was a kid in middle school. Now I’m old aaz trying to save. Whyyy ahhh 😢
I'm 22 and make 55k a year, and I'm about to have a boy in 4 months. So I feel like I've skipped a decade straight into the messy middle😅😂
I will have to work until I die or am disabled 😢
I don’t have debt but I got a late start at all of this. I’m 28 and I don’t make very much (less than 6 figures) is it too late for me?
Wow not at all. You are so much better off with no debt.
25% investing of pre or post tax income?
Yeah, we make more in the United States but we are also spending in U.S. dollars, wish we were making money in U.S. dollars but spending in other countries lower value currency, we all be wealthy like that.
Im pretty sure I can be wealthy by age 2024
Are these numbers by person or household? If I am married, do I need to double all of these numbers if we combine our finances?
Household.
Just realized, doesn’t Brian look like Walter from drake and Josh?
The best way to build wealth is to start early. A Teenager’s Guide on how to Invest Like Warren Buffett and Charlie Munger teaches the key principles to their investment success.
Is the 25% based on gross or net?
Gross
Gross
Gross
I think gross. Their advice on buying a home is based on gross income as well. The way I see it, go with the gross amount over the net amount because it challenges you to save even more money.
All financial advice is usually given in gross terms (Which honestly doesn't make a lot of sense to me given the high variability of a persons net income but its the way these things are discussed).
I think at 50s.. you guys need to talk about spending dials... I don't think its healthy to say i want a house, a vacation house, boats, 2 cars and international travel every year. Maybe talk about being realistic and talk about choosing one or two things you truly care for and dial those up. If you care about your housing, then spend on the one nice primary residence and take local smaller trips. If you care a lot about traveling, live in a small 1000 sqft house and travel... Its fools game to think we can have it all and live it up to no end.... Having boats and trailers and vacay house is nothing but money pits and time anchors.. because when you get older, time gets more finite
"Today!
Learn how to be wealthy by ag--"
23:35 That's not using the flexibility of a lower monthly payment. That's buying more house than you can afford.
That would only be true if their 25% rule was based on getting a 15 year mortgage. Their rule is based on a 30 year mortgage so it's not buying more house than you can afford in their eyes.
How do you "want to" when you no longer care about anything in your life?
I get the video however I'm confused %1can make or break someone for example I invest %93 every paycheck making 44k a year my buddy invest %10 but yet he makes 200k a year
I hear it like this - the % of my income that I save is related to the % of that same income that I will have in retirement - the idea is that whatever lifestyle I have now, based on my income, I can maintain during retirement.
Canceled my Spotify during this episode 😂
Who farted at 4:50? lol
He just nodded
So whats the number for being wealthy at 25?? I’ve done a pretty good job amassing some wealth so far and wonder just how far along I am.
Definitely started my messy middle early with a wife, kid and a few houses🤣
You don’t have a free budgeting template?! And thank you for enlightening me that I need to “make more money.” I wish I had thought of that.😒 Duh, that’s what we need help with - how do we go make more money!?! We’re willing to work hard, we just all can’t have the $150k jobs.
Or you can just marry into money.
My networth is 100k-200k I don't feel anywhere well off with this administration...
If your a man, you can get rich by not getting divorced. If your a woman, you can get rich by divorcing a rich guy.
How in the world does this video have 9.6k likes and only less than 7k views…
It’s a glitch. Mine says 276 likes
@@ethanshy280 oh yeah you are right, now it’s showing like 370 likes.
I have to disagree. The US has a 10,000 dollar advantage. globally, and yet when you compare the US to say Japan. Which also provided universal health care. It's rather poor. And yet in the US, we have to pay for private health care...So we have not alternative to SAVE. in case we are denied health care and have to pay cash. These savings will be quickly depleted. This is shown in the life expectancy outcomes. You might have more in the bank.. but as an American, you will have to pay for those hospital visits, ( as you get older and sicker) you will need a car, and gasoline. So I think it seems like more but in reality, it's not. The only advantage i really see the US citizens having if they wish to diversify their portfolio is they don't have to think of currency conversion. But then again, we have very affordable health/dental care, or in some cases universally free at the point of delivery.or subsidized medication. We also get free transport at age 60. So I'd rather pay a little more in my TAxes knowing that an insurance company isn't going to deny me or my family or kids, includeing pre-existing conditions, health care.. that's a pretty good deal.
4:27 Bo’s take away from the average $2.8k CC debt and & $6.7k median retirement savings is that “Gen Zers are saving, they have something built up”
I think Bo makes a slight leap here given the data cited on retirement savings is a median not a mean. Using a median instead of a mean results in a number that minimizes the number of people who have $0 saved for retirement.
I think it's the opposite, if they used averages the few multi millionaire's would bring up the number much more than the median does
@@nikolavrbanic647agreed
@@nikolavrbanic647certainly possible. Either way it would be interesting to see what % of the group has no retirement savings at all AND has CC debt. I figure it’s a big %. I am less optimistic than Bo unfortunately. Hopefully he is correct though!
The median is a more accurate indicator of the “average” of a skewed distribution. In the situation you have a symmetric distribution of CC debt and retirement savings, then the median is equal to the mean. So I think it’s correct that they use medians as a measure of financial health
That being said, of course there could be some “zeros” in there, but if you had a high proportion of people with no savings and more credit card debt, then the median would reflect that. The median savings would be much lower, and debt would be much higher.
It's all nonsense. Spend very little and you will be in good shape. Plain and simple.
I’m 60 and want to retire in 6 months. I have a $170K annuity, plus a 401k depleted to $200K of money that I’m not sure what I can do with at this point. My retirement plans seem to be out the window. Is it a good idea to get professional help?
With everything going on, consider financial planning, … that is okay. You can get your money to work for you. but I would say delay retirement a little
@@lisaalbert-od5zv I have heard how they can help you make the best decisions and to be honest I don’t want to lose any more money or I will have to work till I die.
@@AlanSiegel-y1c And what if that is all you have, even with SS you may not have enough to retire with. If you opt to work with a financial adviser, Dyor, make sure they are certified by AARP or FINRA.
@@MaureenPearce-si4tf It’s a good idea to look for a fiduciary who has a legal obligation to work in your best interest and can’t recommend products or services just because they’ll receive a financial kickback for doing so. I and my spouse work with a retirement planner, Loren Lena Walker an advisor we met in NY, referred by Danielle Dimartino Booth in an interview. Under her guidance, we split our investments, traditional IRA, and the individual brokerage account where she copies her moves on our account from her master. We have been up by 74% precisely in the past year She rebalanced again when the year began, we still hold cash and are cautious with how much we let into the market at this point.
@@EmilyLocker-tk7op Can I get the contact info of the person you work with?
Talk about cost of living ratios. I make 54k per year but 42k goes towards taxes and cost of living which is a 7:9 ratio out:in to survive
I wish there was a correspondence between health and finances in my life. My finances are solid, my health is sh!t, despite my labors to maintain my body.
Same! My finances are amazing, but I've been cursed with bad genetics 😂. Hopefully, big pharma can develop something to reverse the effects of generations of bad eating/lifestyle habits. At least we'll be able to pay for it when they develop it.
21:30 I have been in the full time work force (post college) for about 2.5 years now and looking at what I amassed in that time frame I’m actually really proud and happy!
Sometimes you need to take this deep breath like Brian said to evaluate if you’re actually reaching your goals!
After thinking about it I can’t wait to see what is in store for me for the next 2.5-3 years
Love it: “Own your life, don’t leverage your life”
In a gen z,(24) i have worked my ass off to invest and get where I an at being a diabetic, (t1)
It's been heck a show 3 months ago I was 4500 in debt because uh.. yea trip+everything going haywire while abroad fun.
Anyways... ff to today I am making my last payment on my card Thursday.
I been in the markets a few years have about 2k in there and 11k in a 401k. Hoping this year to break 5k ..
4k in my roth as well
Was an unexperienced investor and i lost over $30K when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I find one source to recover my money, at least $5k profits weekly. Thanks so much Mrs Desiree Madison
she often interacts on Telegrams, using the user below.
@DesireeFX⭐
Scam Alert
Just recently turned 22 in November, and I graduate college in spring 2024 with a bachelor's degree in Finance. I've worked part time, and will have a debt of $5,500 remaining by the time I graduate (4.5%). The biggest issue for me is going to be housing, because it increases an avg of 6.6% per year but I'm hopefull that I can leverage my education to build a "skillset portfolio" where I can earn a large income. My goals are to retire by 45, and own a main property as well as a vacation home in ventura so my family can visit without paying for a hotel or Airbnb. Based on my estimates, I'd need a combined household income of about $215,000 before tax to achieve my financial goals which seems rather much to me. For reference, I've calculated the cost of living in my area to be about $2300/month per person and a 5 bedroom house to be about $550,000. The house in ventura would be about $1.5M. My calculations are based on a 2.6% inflation rate and a 10% market growth rate and a 12% long term (riskier) growth rate. I guess my question is, are my goals unreasonable 😅
I think unless you have an extremely unlikely boost to income, retiring at 45 and the vacation home can't both happen. A typical starting salary in Finance is 65,000. So, it will be unlikely to accomplish all of those goals.
@@tannerdriscoll6699 I think you have a really good point. The starting salary expectations in my area are closer to 55k , so less than the average 😅. I could quickly build up my career and probably get to about 90k in 3-4 years. If I get married to someone with a similar income; lets assume 70k, I could expect 150k household or 114k Net. That would allow me to comfortably afford the 550k house (assuming 5.5% interest w/ 20% downpayment) but thats still a long ways away from a 1.5 Mil vacation home. I suppose now I gotta find a way to scale the career growth a lot quicker. CFOs make good money but I think starting my own business may be the way to go....lots of risk though.
@@ZT53 ya it’s all a balance. Since you’re not working yet it’s fine to make it a goal and see how it goes. Lots of things could happen. You could be really happy at a job that makes a little less and the stress isn’t worth more money, future wife could have different goals or wanna live somewhere else, etc.
Better not get divorced, those houses become hers. They do it by using a court ordered quick claim deed. The judge signs your name if you won't sign.
@@ZT53even if you did get a spouse, she would come with her own retirement wants. Be wise with your decisions
I will say this over and over again. I really don't understand why people only look at 15 and 30 years mortgages. A 20 year can be the perfect middle to keep you aggressive and on track get a little more home and get a marginally lower rate. I would say this is especially true for single people who only have one income. Lets be real not everyone is getting married and having kids today. If I am the median age first time home buyer at 33 would I rather have my house paid for at 63 or 53?
There's such little difference between 15 and 20 that it seems pointless to me
I thought somehow this was an exception episode for Bo said "I am so so excited" without first saying "Brian." But then I realized he just started saying it so quickly that he got interrupted by the intro jingle.
Time stamps would be great on videos on like this. Thank you
Lol at "B-word" being "budget" =]
I’m 23, my wife is 21, and we both have about a year and a half left of college before graduating. So far we have avoided going into debt with college between scholarships and budgeting for tuition. However, we don’t have a ton of extra money lying around since we are both only able to work part time while in school.
My question is this. With the tiny bit of margin we do have each month of extra cash, what should we be doing with it? We are completely debt free and have a small emergency fund saved with another savings account we use to hold tuition money.
We are contributing the employer match to our 401Ks, but I struggle to consider putting more away into retirement than that currently just because I feel like the money we make now goes so much farther spending-wise than it will in a couple years when we have real, salaried jobs.
@cooper Did you watch the part of the video where they talked about the 20's. Follow the FOO bro. Your money now has close to no spending power compared to what it could be later on. Invest as much as you can bear at your age. I promise you will not regret it.
Def invest as much as you can now and let it compound. By doing this you learn early on to live within a budget and not buy useless crap that everyone does.
Follow the FOO. But part of that can be preparing for a major life change. Since you know you will be graduating soon, I’d make sure you have plenty of money to move and get your life started and beef up the emergency fund maybe? Make sure it is 3-6 months of your expected expenses (since they will change very soon). I’ve watched Brian for years and he’s not opposed to stacking cash for major changes. He stacked cash before he started his business, and somewhat neglected his investments for a short time. You have to be very intentional though and make sure you get that 25% savings rate by age 30.
Sounds like you are doing a lot of things right. I would say build up your emergency fund to at least 3 months of expenses.
Do they drink beer every episode? Crushing life goals. I love it.
Ha! Love it. The koozie is always there, but Brian hardly touches it. It's also probably a seltzer.
0:21
“I WANNA KNOW, CAN YOU SHOOOWWW ME?”
Phones are a lot more expensive. Two decades ago, who would have agreed to paying something like $3800 every 2 years for phones (assuming 2 adults and 1.8 children upgrading every 2 years to the latest), plus $180 a month for the phone plan (assuming $50/line for 3.8 people)?
People have a lot more these days, but think they need everything.
Love your show so much! Keeps me in check ❤
I know the rules for buying a house is to live in it for longer, but in the military the standard contract is four years long. With the VA home loans and plans to turn it into a rental property when moving at the end of the four years, does it make sense to buy or just rent until retirement at the end of 20 years in?
Just rent brother. The Ramsey show talked about this too.
Rent until you are in a better position to afford 2 homes. My step dad was military and bought early and we moved and they had to foreclose on the house because it was done too early in his career to afford it.
I had a cousin who served in the corp of engineers and he moved mostly just between three bases, he owned a house near two of the sights and rented when he was at the third base. When he wasn't at a base he would rent it out to a buddy or family. Did that for about 25years now he is in his 50s retired and works on bikes for fun and drives them around in the summertime.
I’ve met a handful of service members who bought houses throughout their careers and I’m not aware of any who regret doing it. The ones who bought before the 08 crash and never did a HELOC or anything are doing great today. Given that will increase the amount of stress in your life, but if you’re listening to shows like this, you’re likely wise enough to invest successfully. The military gives you such a big safety net and network compared to a traditional 9-5 as well.
@christians131 Yeah, investing has never really been a worry for me. Living in the barracks I had minimal bills and have no debt and have been saving a little over 60% of my pay for my first contract. But my second duty station doesn't have barracks and I'm about to move there which is what is causing me to start looking at my options
Whete should i put my savings into?
Regular 4 percent savings account?
Showing global wealth comparisons is a little disingenuous because you have to compare it to cost of living of each area
Hope I'm wealthy by age 2,024!
19:20 is the know your number course okay to take if I'm in canada?
Currently saving 75-90% of my paychecks. It doesn’t ever feel like enough though
Wow that's awesome
So I have a AMEX card that pays 1.5% towards my Roth IRA, so I put all my fixed costs on there like gas, internet bill, insurance, etc…. Good or Bad idea?
Why does it matter that they pay 1.5% toward your Roth IRA? You could easily get a card that averages 2% on all purchases and every time you redeem just transfer to your Roth IRA. The main thing is just be sure your pay your cards balance off in full every month. The people really good at this check their transactions like weekly or every other week and constantly pay off the balance during the month. It's really all about self discipline.
it's not a good or bad question it's just a choice.
And doesn't fidelity offer 2% to your roth ira
If I scrimp and save until 65, and die at 70, was it worth sacrifice my youth and spending time with friends and family on vacation?
What if you spend till 65 and get to live till 90. 25 years of suffering
@@moulydharanvallal3637 you're assuming I had no money saved, why is that?
@@AnonN-sr6uumost people have money saved issue is people don't have enough saved or have to work till 70+
@@AnonN-sr6uumost people have money saved issue is people don't have enough saved or have to work till 70+
Reupload. Weird
Weren't you guys just saying that Dave Ramsey's advice of "The quickest path to wealth is debt free" was poor advice and yet in the first five minutes you say "Debt is a bridge to nowhere"? Seems intellectually dishonest.
Credit card debt is not the same as a mortgage, so no intellectual dishonesty
Exactly what @@nikolavrbanic647 said. Keep in mind that Dave Ramsey is against *all* forms of debt. The Money Guys lay down parameters for what to do for a mortgage and what to do for a car loan.
I'm obsessed with building my wealth and learning. It's a everyday thing now