until Americas debt gets so high that the interest on the debt is more than the government cant afford lol. Its compounding debt now. That's when you see stock market get wiped.
A wise saying about investing according to my Friend who is a CFA is to be Patient and Think Long-Term. She said, “The stock market is a device to transfer money from the impatient to the patient.”
You are right! A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $110k and in the first 2 months, my portfolio was reading $294,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over 8 years we have been working together making consistent profit with good relationship understanding.
I own some shitcoins and I would like to switch those to nvidia stocks. Ofcourse the price is crazy booming right now, didn't dared to buy the stock when it was sub 6/700.Since split is incoming, I've seen news all over the internet right now. Could this be one of the last trains to hop on for Nvidia? And investing, I mean longterm investing. Few years atleast.I know no one can predict the market, so I'm mostly curious about your thoughts on my take.
A financial advisor can help you determine if stock investing is a good fit for your financial goals and can help you develop a strategy. They can also help you consider your risk tolerance, liquidity needs, and short- and long-term goals. Consulting a financial advisor can be especially helpful if you're new to buying and selling individual stocks. You can also ask your advisor questions about reinvesting your dividends
we had invested in stock through Cynthia McClure Alexander for nearly 8 years as our broker. The market had its ups and downs, but in the long run it did very well for us. With my pension, social security, and investments we can live comfortably. We are now able to fully enjoy our hobbies, travel, family, and making new acquaintances.
80% stocks 20% cash. I plan to take advantage of the s&p 500 as leading indicators predict above 10% rise by this year, my only issue is how to properly allocate a large stock/bond portfolio for substantial gains at minimum risk of inflation.
I believe that diversifying your investments is the safest way to handle it. One way to lessen the effects of a market crisis is to distribute investments over a variety of asset classes, such as international equities, bonds, and real estate. It's critical to look for expert advice.
Accurate asset allocation is crucial, and some individuals use hedging strategies or allocate part of their portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on investments.
NYCOLE CHRISTINA VANNATA a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Someone who never had an emergency fund is now complaining about having a $1000 emergency fund, You forgot you didn't have a $1000 before you started this plan.
Most of those people have a few thousand in savings while they have tens of thousands in debt. Ramsay's plan gets people to realize how broke they really are
I've just begun learning about value investing, and I've found that many good stocks are undervalued despite their intrinsic value. If you had quarter of a million to create a strong portfolio, which stock would you choose for better returns?
I believe a solid portfolio should include three key components: ETFs for diversification, dividend stocks for steady cash flow, and top tech stocks. Given your budget, it’s a smart move to consult a fiduciary advisor for professional guidance.
Having an investment advisor is the best approach to the stock market right now. I was going solo without much success until my wife introduced me to an advisor. I've achieved over 80% capital growth this year, excluding dividends.
My CFA ’Amber Michelle Smith’ a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I just checked her website, and I’m even more impressed! The range of financial strategies and resources she offers is amazing. I can see why so many people trust her with their investments-looking forward to working together!
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
It really depends on your situation. My wife and I are currently in a home here in the Bay Area, but not necessarily in the best school district. We want to upgrade to a better house in a better school district. So it doesn't make sense for us to pay more than the minimum mortgage payments on this house. It allows us to save up for another house in the near future. Maybe we'll sell this house or maybe we'll keep it, that determinination will be made in the near future. All my friends do this: have a 6 month emergency fund, then max out 401k, then invest in mutual funds/ETFs/stocks.
Depends on your goals and timeline. If you are interested in financial freedom before retirement, you should be targeting 40%. I lived like I was broke for many years and was investing around 85% of my income which lead me to become a millionaire by my mid thirties.
That’s unreal man. My wife and I did the same, lived like we were broke and lived in a basement suite for Cheap rent until we were 29. We just cracked a million in assets and savings/investments at the ages of 31. Feels good!
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.
diversifying your investments is the safest way to handle it. One way to lessen the effects of a market crisis is to distribute investments over a variety of asset classes, such as international equities, bonds, and real estate. It's critical to look for expert advice.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
SONYA LEE MITCHELL the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her
How old are you? It’s not a bad idea, but don’t waste your prime preparing for your feeble years. Don’t be neglectful of your future and retirement, but definitely don’t neglect to enjoy some of your money and time.
Its the way to go, invest and make sacrifices when you are young and able to work hard. Spend your 20s working hard and start to ease back in your 30s and 40s until retirement so you can reap the rewards.
The compound growth also works on the mortgage, the more you pay down the mortgage, the more of the mortgage payment goes towards paying the loan part of the mortgage and less towards money getting flushed down the toilet on interest.
@@Michael-ye9xm dump it in your retirement. You want a lot of money in retirement early on so it compounds. Even 1 year makes a big difference of a few million in 40 years. Invest first, then buy a house, all while living below your means. Every dollar you can save put it in investments.
Yes, but people calling into a show asking for financial advice, usually don't have the best grip on their money. You don't hear any type of person like Warren Buffet calling into these shows. These types of shows are more of a "lets start to dig you out of the deep hole" situation with easy stepping stones. $1,000 is NEVER enough for an emergency fund, but it IS a small attainable stepping stone that someone can focus on while digging themselves out of a hole. The ladder to financial security may be 950 steps, but if someone cant see the first step of that ladder to get themselves out of their hole, they will never start.
I agree. We had a lot of excess income and invested 80%+ of our income for the last 7 years. We now have over $2 million and are financially independent at age 35. It's just a math equation, the more you invest, the faster you go. But to each their own, it would have been demoralizing for me to have to pull back, only invest 15%, and wait for 30 years.
I’m 57 . If I had $360k I would invest $100k in tech & $260k into dividend stock with a proven track record to grow with capital appreciation & dividend increase year over year
The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner
The best market strategy is to work with a credible investing coach. Since a while ago, I've been in touch with a coach, mostly because I lack the depth of understanding and mental toughness to deal with the ongoing market conditions. You lack the information necessary to succeed in a competitive market, not because you're doing anything wrong, but rather because of your lack of experience.
Mortgage pay down vs retirement investment. You're an adult! Do what you guys want... Dave taught you how to get out of debt already, the rest is up to you. His steps are a guideline, follow it or change it, but don't need to argue with Dave about it.
@@alexc5369 mostly agree. The only thing I would say don’t mess with is debt. You don’t want to ow somebody 3% interest for the rest of your life. Doesn’t matter if you’re making 10% in stocks. Stocks are taxable income and don’t give you the stability of owning your own home and being out of debt.
There is nothing to argue about, he's wrong. It's basic math. If you have a low interest rate, over a long period it's worse to pay off your mortgage than to invest. The only reasons to pay early is if you don't have the discipline to invest the saved money or for the emotional feeling of being free of mortgage.
You can put whatever percentage you want into investing, Dave and others are just giving a number as a baseline. When you are increasing the money load in the bank, you can more or less spend and invest whatever you want on everything.
Nobody can become financially successful over night. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals.
@AustinWalker67 This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant by name Bridget Mary Turow and everything changed. I started enjoying huge returns from my investment.
@AustinWalker67 Bridget Mary Turow her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy
I invest 20-25% of my gross income each year. 15% is too low in my opinion especially pensions are harder to come by and not many people have employer matching.
Everyone should play with a compounding interest calculator at least once in their lives to see the potential over time. I'd invest 75% of my income if I could.
I sometimes play the good old times game too, when interest on savings was as high as high risk investment is promising you now to manipulate you into giving them your money.
Yes. Dave really doesn't answer the question as to why not to invest more than 15%. If I had to do it all over again from my 20s, I would have put in as much as I could.
He cheated on his wife, and Dave couldn't keep him employed at a Christian company with that knowledge. It's sad, but I think Dave made the right call.
I've been on an aggressive debt paydown path, and recently i needed to get a new Catalytic converter for my car. It was very discouraging. I'll be fine and we have the savings, but those things do feel like a roadblock to your momentum
Not sure of they have "HyperJar" in the U.S. but here in the U.K. I use HyperJar as a kind of second bank account because it allows me to put a little bit of money into loads of different "jars" which is great for these "unforeseen" emergencies. So for example I have a jar that I put £40 per month into for unforeseen car repairs, and a bunch of other "jars" that allow me to squirrelly away for these type of expenses. One is called "health" in case I suddenly need new glasses or an something, and another is for "household" in case I need to pay a plumber or buy a new washing machine.
I think this is one of the best videos Ramsey Solutions has put out explaining the rationale and intent of the Baby Steps. Explained with grace and to great effect.
Trump's policies had been viewed by many experts as more positive for the financials sector, spurring this massive rally. It's enticing to consider purchasing some cryptos and stocks, I'm contemplating investing more than $300k. Thoughts?
It can also be very bad, I lost a lot trying it all by myself stock picking and selection and my portfolio on red, about nighteen months ago I got with A professional FA, I’ve now seen my $190k startup close to 2million in dividends. Without doubt professionalism is unmatched.
My CFA “Diana Casteel Lynch”, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
We invest 70% minus taxes and insurance.. we are 42 and millionaires.. house paid for, college paid for, zero debt .. We invest my wife’s entire salary .. minus taxes and insurance.. and 20% of my salary .. we live off only my salary ✌️
Life is so much less stressful when emergencies happen and you have funds available to pay for the expense. Our furnace went out earlier this year, and yes it wasn’t ideal and it caused a bump in the road but because we had a rainy day fund we were able to pay for in cash and just move on with our life. It was an inconvenience not a major tragedy.
I recently sold some of my long-term positions and am now sitting on around $250k; do you think Nvidia is a decent buy right now, or have I missed out on a critical buying period? Any solid stock recommendations on fantastic performing stocks would be greatly appreciated.
Personally, I would say have a mentor. Not sure where you will get an experienced one, but if your knowledge of the market is limited, it seems like a good bet.
Some individuals minimize the importance of counsel until they make regrettable mistakes. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Finding financial advisors like Kenna Muriel Hesseling, who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
The comment Dave made about the Brooke college professor,.. I decided to finish paying off my student loans because one of my college professors was still paying off Joe student loans. That scared me straight.
this madness is unknown in Europe. People pay tax their whole life while working. Why one should pay for college when getting educated in order to work for a tax-payer job? Formerly going to college was a guarantee to earn lots of money for the whole life. Nowadays without having a college degree you hardly find a well-paid job. Actually, many do not even find a job when having passed university. So de facto university degree has not much meaning anymore.
Similar experience for me - a coworker in his late 40s who made a comment "yep, still paying on my student loans. You have 'em for life" And he didn't even *graduate* college... 🤯 *THAT* scared me straight!
The most common thing I hear about is people losing their home despite having a good income. Being raised in Mexico, my mom always owned her home. We were very poor but never, ever homeless. God forbid,
@donald johnson Since that was my mom's house and I have been in the USA for 20+years, I have no idea. But that's a good question, I'll ask her next time I talk to her.
@donald johnson it does vary depending on where you live, in my parents case, they own a home in a small town in Mexico and the property taxes for the year were under 300 pesos, which is about 15 US dollars 🥲
There is obviously a compounding effect in the very long term for large capital, but is not "automatic", and with the wrong strategies you can even lose more than you have, and selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies.
I think a good investment portfolio should have three basic things: ETFs for diversification, dividend stocks for cash flow, and leading tech stocks. With your budget, it's a good idea to talk to a fiduciary financial advisor for expert advice.
I fully agree with you. I also lost a lot of money when I first started investing on my own. Following the 2020 crash, I was able to withdraw almost $160,000. After working with an analyst to invest that money, I gained about $580,000 in just seven months. It's incredible how things can improve with the correct direction!
i'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
"Laurelyn Gross Pohlmeier," a well-known authority in this field. I would recommend looking into her credentials more because she has a great deal of expertise and is a great resource for anybody looking for advice on how to navigate the financial market.
Acquiring prospective assets with proper mkt direction will provide more returns than doing it all by yourself. Thankfully, I can attest to the success of this approach aided by professional guidance seeing my portfolio of $1.3m grow by 25% this year alone... maybe you should do the same.
Victoria Louisa Saylor is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Oh, good question. I've often wondered this. Especially if you're on the older end, say 42 with 0 in retirement. I see that he is wanting the house paid off first before you invest more. But, we have like 3% interest on our mortgage and only 48k left with a plan to pay off in less than 10 years. I don't think it's a bad idea to do more and pay off mortgage early at the same time. You'll never get the years of compound interest back. Everyone's situation is different.
Having listened to the Dave Ramsey show for 11 years now, this is a rare discussion that isn't a repeat, like 99% of the questions that have been asked before.
Yep, just like people get sick every year, requiring doctors to perform the same operation, people mess up with money every year and have to follow the same advice. . I'm guessing here, but I would say that 99.8% of our lives are repeats of lives that came before us. Each generation has to learn a significant portion of what the past generation already knew before they can start charting new territory.
No, you can't always convert those investments back into cash. Investments are another form of gambling, and, in gambling, sometimes you win and sometimes you lose. When you lose, you lose money, money which cannot then be converted to cash.
Dave Ramsey, you really are such a decent man in the way you explained the "falling off the waggon" - Thank you for sharing your ideas with the rest of us
After we paid the house off we saved 27% of our gross income for years. Now retired we spend big bucks traveling the world, spending most of the interest.
Started at 40k debt 2 years ago. Down to 19k now and got a substantial pay raise recently and sold my stupid car decision and got into another older vehicle 1/3 of the value I originally had (but ironically I like more). Expect to be debt free this year for the first time in 14 years. Work the plan, people!
I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.{
My strategy has always been to invest 25% of my income in the stock market at the beginning of each month. The second part of my strategy is not to sell for at least 5 years, but recently my portfolio has suffered major decline about $150k in losses. What can I do please?
Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions. which may reduce your dividend gains or income, speaking to a certified market strategist can help with pointers
Agreed. It's always wise to be proactive and consider diversifying our investments to manage risks in uncertain economic times. I delegate my day-to-day investing to an advisor ever since suffering a major steep-down late 2019, amid rona-outbreak, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments
*Marissa Lynn Babula* is the licensed CFP I use and im just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
I started investing in the stock market because of dividends. What matters, in my opinion, is that if you invest and earn more money in addition to dividends, you will be able to live off of dividends without selling. It implies that you can pass that on to your children, giving them a head start in life. I've invested over $600k in dividend stocks over the years; I continue to buy more today and will continue to do so until the price lowers even further.
@Margaret I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over 1.5 million dollars working with an investment coach for more than two years.
@@AlbertGReene-p8w she actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you sharing
My first investment was also into a dividend stock at 14. At 34, I cashed out part of that investment to put towards the down payment of my house. Nearly all of my investments have done extremely well over the long haul. A few were duds, but I've come out on top too. Once able, I invested far more than 15% of my income. I don't do Dave's plan of paying off my house first. It's not that I don't think it's a good idea, but my plan has worked exceedingly well for me, probably because I had the saving and investing habit established long before I bought my home. But I think his argument is sound and logical for the general population.
Multiple viewpoints. Dave Ramsey is right. A lot of it comes down to having to not get "too greedy" and live life while helping others and giving to those who also need help and allocating money for that.
I’m 18, living with parents. Make about 550 a week but 450 after paying 100 a week for rent and other stuff. I throw in almost every dollar into stocks. Right now I’m up over $2.2k
That was a good talk, one thing about saving $1,000 while your managing debt is if you don't save $1,000 for just in case then you can't save $10,000 for an emergency fund either.
Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?
Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then
My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.
I like the baby steps and its very straightforward and simple, my only question is on step 2 why use the snowball method when the avalanche method will save you more money long term?
I’m 19 and in the Air Force. Because my housing, food, and medical insurance is paid for by military (and no debt), literally the only things I need to worry about is my internet bill , data bill, and car insurance which all add up to about 300 a month. I only keep around 2k in my bank account and invest the rest which I guess is around 75% of my pay check. The reason I don’t have much money in my checking is because I don’t have many emergency obligations. I don’t need to worry about losing my job or about supporting a wife and kids. I am extremely blessed and thankful for the position that I am in, unlike many of my friends who didn’t put much thought into where their money was going. I know many of your circumstances are drastically different than mine, but being financially free for most people really just requires a little bit of prudence and self discipline.
You absolutely should invest more than 15% if you are able to do so. I get that Dave is steadfast in his plan, but you can absolutely tailor it to your own situation, especially if you are playing catch up. There are people in their 30s-40s getting debt free with hardly anything in retirement, they need to be putting way more than 15% in.
@@alexc5369 yes but most people could take out a 30 year mortgage and have it paid off for retirement and the reduced cashflow to the mortgage means they could have been investing sooner (compounding growth!). Dave's advice is meant for people with no self control and locking money away in their home is the only thing that forces them to not take the money out or waste it.
@@robby95036I wouldn't risk having a loan for longer than necessary. We're living through crazy times ! There's nothing to say that we won't live through another recession, another pandemic, that we won't loose our jobs, get sick or need to take care of a loved one that has gotten sick. I believe in reimbursing the loans (especially those without fixed rates) as fast as possible.
A Friend told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. is this a good way to potentially grow my retirement savings to about $3M over time?
Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for a while now mostly and I made over $800K within a short time
A lot of these comments sound like spam. I don’t think you need a financial advisor. Read “Simple Path to Wealth” by JL Collins and you can do your own investing. Between Dave Ramsey and that book I feel like I know everything I need to know to build wealth.
Having an emergency fund before becoming debt free allows you to cover expenses without creating more debt. This simple process has saved my butt in the process of debt elimination many times! Used to be in overdraft every month.
Dang! There's a lot of criticism here, today. Everything Dave suggests is just that: A SUGGESTION. Those who follow his tenets tend to do well. Far too many people in America have little to no financial guidance. If something else works well for you, great for you! You're special. If you're lost and found Dave, consider yourself blessed to have a guide who can get you on the path to financial freedom.
What sets top investors apart from the rest? I've got $385K in equity from a home sale and I'm unsure whether to put it into stocks or wait for a more favorable market condition.
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
Several individuals minimize the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
'Laurelyn Gross Pohlmeier' a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I’ve used the baby steps myself and share your concepts and videos with others who needed the message. Great basic advice for those of us wage earners.
My coworker put 30% into his 401k when he was a lot younger, by time he retired at the age of 53. He got a million in his 401k. Accords not everyone can afford 30% but he told me to put 15% then I’ll be fine. He has a household double income that’s why he can afford to put 30% into his 401k. But him and his wife has to talk it over and make it work for both of them.
To the emergency fund bit: some friends of mine and I are working through the baby steps, we found $1500-$2000 to be a better spot purely because these days that's what rent costs in our area and worst case scenario you can buy yourself time if it really hits the fan.
Not an investment comment. I just have to say it: After years in debt I finally said: ENOUGH! Enough with auto-pay, it's not working. Enough being stressed. I went with paper-bill-statements. For the first time in three years, I'm not in the negative. I don't have much, but having a little, being in the green, is better than having nothing in the red. Also, it's helped me not make any UNNECESSARY purchases. I can breathe a little again
The percentage depends on your income. The more you earn, the higher the percentage. 15% at $40K income is fantastic. 15% at $200K income is not enough.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks.
@@BintuDelacroix Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY* , a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help...
Stocks looked to rebound Friday to close out a rough first few days in August, as the jobs report's release takes center stage and an earnings-heavy calendar continues. I’ve heard testimonies of people accruing over $250k this red period. What measures can I take to ensure this?
A solid strategy can be a key component of an investor’s portfolio. Well, the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.
Yes true, I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor and I've been returning at least $98k every month so I’ve been sticking to investing via an Advisor.
When I was working, I was putting 15% in my 401-K and 8% in my 401-k Roth. My job had both and I was there for 24 years. I retired in September of 2021. Do not regret it at all. I am getting SSI, Pension, and have a rental property. I have not touched my 401-K at all.
Exactly, if you buy market portfolio (s&p500) you are literally maximizing risk to return payoff as you are directly on the capital market line and you are diversified, there's simply no better investment@@captain4318
I invest 30% of each check I get. I don’t have a mortgage and my monthly bills add up to $1,067... so, i really don’t need much to live on and I can really save/invest a good chunk.
@@Bfolks84 I see. My take on this would be the sooner you adjust the investment approach, the more funds you would have for the real estate investment scenario. This is assuming the 30% investment your making is into retirement accounts.
Paying off your house and only investing 15% is dumb if you have a low interest rate, you lose more than you could have made through compounding interest
I have a mortgage that beats inflation and an ADU with rental income that nearly covers the mortgage. I don’t like the idea of putting my extra money towards the mortgage vs stocks. That seems wrong.
Psychology versus math. You sleep better at night knowing the house is paid for. Lots of bad can happen, but you are okay. Just like the turkey at the in-law's house on Thanksgiving tastes different if you owe them money.
I think the Ramsey plan is about as good a plan as ive seen. The core tenets of: spend less than you make, budgeting, avoid debt like the plague, emergency fund, and invest for the future are unimpeachable. There may be some things id recommend as “optimizations” like …buy much less house than you need because your primary residence is not that great of an asset relatively speaking.
0:12: 📈 Maximizing investment potential and diversifying income sources through various strategies and considerations. 3:14: 📈 Maximizing investment potential and financial growth through strategic allocation of income. 6:15: 📈 Maximizing investment potential and diversifying income sources. Recapped using Tammy AI
I do 15%......but the other way around.......I LIVE on 15% of my income; I SAVE 85%.....I do this every month and have for years. I do not have a mortgage or any kind of debt, no car.
its pretty smart. our culture in the US, looks down at it fairly strongly, for grown males to keep living with family. But early 20's, its still very reasonable. shouldnt be in any serious relationship where your own place is "needed"(after 25, maybe) , i think you can ride that out for a couple more years
After a terrible 2022, shell-shocked financial backers have a lot to think about and losses to recover from. An expansion report and a wealth of other data did little to alter assumptions that the Central bank would likely keep raising interest rates regardless of whether the economy slows down. This implies that portfolios will experience more losses during the first quarter of 2023. I'm currently at a crossroads deciding whether to exchange my $250k security/stock portfolio; how might the continuous market volatility work to my advantage?
Concentrate on two main objectives. First and foremost, keep yourself safe by knowing when to sell stocks to reduce losses and maximize gains. Second, prepare yourself to gain from a market turnaround. I advise you to seek the advice of a representative or financial counselor
@@georgerobinson2021 In fact, ever since Coronavirus, I've been in regular communication with financial examiners. Nowadays, buying moving stocks is quite easy; the trick is knowing when to buy and when to sell. The section and leave orders for my portfolio are made by my counsel. accumulated more than $550,000 from a $150,000 savings that was initially stale.
@@georgerobinson2021 This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant by name KRISTIN GAIL CUNNINGHAM and everything changed. I started enjoying huge returns from my investment.
Im hyperfocused on this strategy and have been for years.What do you do if your spouse has no interest in any of this....I've been fighting her for years!!!!!!... she has never been a saver and in my mind never will be. It's all up to me...I'm mentally exhausted...help
Dave’s system works well for beginners, people with debt they can’t handle. Once you gain some responsibility financially, there are better solutions. Most of the Dave haters are generally bitter towards most things.
So if I have a $100K that I could invest into an account that earns 8-11% compounding interest, why I pay off a financed home at $100K 2.8% APR and not invest the $100k?
People ask this a lot. Ramsey's answer is essentially "because it feels good psychologically." I figure the bigger lump of cash at the end of 15-30 years will feel better than the early pay off, lol.
Because the Ramsey plan is how to live your life. What happens if you get hit by a buss? What happens if you get cancer? What happens if that stock tanks? Do you have enough cash for 3-6 months? If everything goes according to plan, your idea will net more money. But do you have the right mindset for your money to retire and live well? He's not trying to teach stock brokers or bankers how to manage money.
"Investments are the roots of financial security; the deeper they grow, the stronger your future will be."
The deeper your investment roots, the stronger your financial security will be in the future.
Exactly! With my adviser, I’ve cultivated deep investment roots, strengthening my financial security for the future.
I would love an introduction to an adviser who can help me strengthen my financial roots.
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
until Americas debt gets so high that the interest on the debt is more than the government cant afford lol. Its compounding debt now. That's when you see stock market get wiped.
This dude could read ingredients off a box of fruity pebbles and it would sound like AMAZING food.
Lol
I feel like you might not appreciate how amazing fruity pebbles actually are... ;)
The bass in that guy voice 🤯🤯
He's been fired
@@Babugee9 what why?!
@@navymed3 slept with a coworker
@@kisong1960 not a co-worker, but infidelity
@@Babugee9 yep cheated on his wife. Somehow he kept his job for a little while, but has since been fired.
A wise saying about investing according to my Friend who is a CFA is to be Patient and Think Long-Term. She said, “The stock market is a device to transfer money from the impatient to the patient.”
You are right! A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $110k and in the first 2 months, my portfolio was reading $294,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over 8 years we have been working together making consistent profit with good relationship understanding.
I own some shitcoins and I would like to switch those to nvidia stocks. Ofcourse the price is crazy booming right now, didn't dared to buy the stock when it was sub 6/700.Since split is incoming, I've seen news all over the internet right now. Could this be one of the last trains to hop on for Nvidia? And investing, I mean longterm investing. Few years atleast.I know no one can predict the market, so I'm mostly curious about your thoughts on my take.
A financial advisor can help you determine if stock investing is a good fit for your financial goals and can help you develop a strategy. They can also help you consider your risk tolerance, liquidity needs, and short- and long-term goals. Consulting a financial advisor can be especially helpful if you're new to buying and selling individual stocks. You can also ask your advisor questions about reinvesting your dividends
we had invested in stock through Cynthia McClure Alexander for nearly 8 years as our broker. The market had its ups and downs, but in the long run it did very well for us. With my pension, social security, and investments we can live comfortably. We are now able to fully enjoy our hobbies, travel, family, and making new acquaintances.
Your friend is Warren Buffet?
dave ramsey playlist is my at home background music
HAHAHAHAHA. Good one. Subconscious learning.
Same
Smart Man!!!
Better than caffeine in the morning
🤣
80% stocks 20% cash. I plan to take advantage of the s&p 500 as leading indicators predict above 10% rise by this year, my only issue is how to properly allocate a large stock/bond portfolio for substantial gains at minimum risk of inflation.
I believe that diversifying your investments is the safest way to handle it. One way to lessen the effects of a market crisis is to distribute investments over a variety of asset classes, such as international equities, bonds, and real estate. It's critical to look for expert advice.
Accurate asset allocation is crucial, and some individuals use hedging strategies or allocate part of their portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on investments.
Your FA must be really good, I hope it's okay to inquire if you're still collaborating with the same FA and how I can get in touch with them?
NYCOLE CHRISTINA VANNATA a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I just Googled her name and her website came up right away. It looks interesting so far. I sent her an email and i hope she responds soon.
Someone who never had an emergency fund is now complaining about having a $1000 emergency fund,
You forgot you didn't have a $1000 before you started this plan.
Exactly!! I read posts complaining about the $1000 not being enough all of the time and I want to ask them so bad... what did you have before???
@@Inshape2 Exactly. 😭
Most of those people have a few thousand in savings while they have tens of thousands in debt. Ramsay's plan gets people to realize how broke they really are
@@rachelroelands9928 Debt-to-Income ratio. That’s a real measurement of somebody’s true financial status.
Well said
I really like this video I have worried about the 1000$ emergency fund and the way y'all addressed it is spot on thanks
people finance a car that is 20-40% of their income, of course you can invest over 15% of your income
Perfect example.
Wow!
You can, but get the house paid off.
Couldn’t have said it better
Jim Roscovius I agree
I've just begun learning about value investing, and I've found that many good stocks are undervalued despite their intrinsic value. If you had quarter of a million to create a strong portfolio, which stock would you choose for better returns?
I believe a solid portfolio should include three key components: ETFs for diversification, dividend stocks for steady cash flow, and top tech stocks. Given your budget, it’s a smart move to consult a fiduciary advisor for professional guidance.
Having an investment advisor is the best approach to the stock market right now. I was going solo without much success until my wife introduced me to an advisor. I've achieved over 80% capital growth this year, excluding dividends.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.
My CFA ’Amber Michelle Smith’ a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I just checked her website, and I’m even more impressed! The range of financial strategies and resources she offers is amazing. I can see why so many people trust her with their investments-looking forward to working together!
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
It really depends on your situation. My wife and I are currently in a home here in the Bay Area, but not necessarily in the best school district. We want to upgrade to a better house in a better school district. So it doesn't make sense for us to pay more than the minimum mortgage payments on this house. It allows us to save up for another house in the near future. Maybe we'll sell this house or maybe we'll keep it, that determinination will be made in the near future. All my friends do this: have a 6 month emergency fund, then max out 401k, then invest in mutual funds/ETFs/stocks.
Depends on your goals and timeline. If you are interested in financial freedom before retirement, you should be targeting 40%. I lived like I was broke for many years and was investing around 85% of my income which lead me to become a millionaire by my mid thirties.
That’s unreal man. My wife and I did the same, lived like we were broke and lived in a basement suite for Cheap rent until we were 29. We just cracked a million in assets and savings/investments at the ages of 31. Feels good!
@@mikemontana1990 Congrats!! I'm always inspired by others success stories. I wish you continued success.
Congrats! I love the positivity here!
What age did you start your financial journey ?
That worked for you and that's good. Dave's plan is more likely to work for a wider breadth of people.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.
diversifying your investments is the safest way to handle it. One way to lessen the effects of a market crisis is to distribute investments over a variety of asset classes, such as international equities, bonds, and real estate. It's critical to look for expert advice.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this coach?
SONYA LEE MITCHELL the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her
No debt and single. I can afford to aggressively invest right now! I plan on focusing on investing in my 20s.
How old are you? It’s not a bad idea, but don’t waste your prime preparing for your feeble years. Don’t be neglectful of your future and retirement, but definitely don’t neglect to enjoy some of your money and time.
smash it bruva!
Its the way to go, invest and make sacrifices when you are young and able to work hard.
Spend your 20s working hard and start to ease back in your 30s and 40s until retirement so you can reap the rewards.
@@Walteralexander1 Just be sure you get a prenuptial agreement so your wife doesn't take half of your retirement when she leaves you for someone else.
@@kCI251 Geeeez ouch lol 😆
I hope you see all the positive you have done for people Dave! There will always be ungrateful and jealous people. Thanks for helping us out.
The compound growth also works on the mortgage, the more you pay down the mortgage, the more of the mortgage payment goes towards paying the loan part of the mortgage and less towards money getting flushed down the toilet on interest.
I do about 38%, but house is paid and I have no debt.
If I’m younger should I be putting more in my retirement fund or saving to buy a house?
@yankeecandle unless you plan on buying a house soon (like in less than 5 years or something). Then it's safer to keep the money in savings
@@Michael-ye9xm dump it in your retirement. You want a lot of money in retirement early on so it compounds. Even 1 year makes a big difference of a few million in 40 years. Invest first, then buy a house, all while living below your means. Every dollar you can save put it in investments.
Yeah 33% for me but no intentions of getting a house any time soon and no consumer debt.
@@aisherwasher6959 😂
15% should be the minimum.
Yes, but people calling into a show asking for financial advice, usually don't have the best grip on their money. You don't hear any type of person like Warren Buffet calling into these shows. These types of shows are more of a "lets start to dig you out of the deep hole" situation with easy stepping stones. $1,000 is NEVER enough for an emergency fund, but it IS a small attainable stepping stone that someone can focus on while digging themselves out of a hole. The ladder to financial security may be 950 steps, but if someone cant see the first step of that ladder to get themselves out of their hole, they will never start.
I agree. We had a lot of excess income and invested 80%+ of our income for the last 7 years. We now have over $2 million and are financially independent at age 35. It's just a math equation, the more you invest, the faster you go.
But to each their own, it would have been demoralizing for me to have to pull back, only invest 15%, and wait for 30 years.
@@matts9728 Were you paying a mortgage, rent, or living somewhere for free?
@@Tehui1974 Paying a mortgage. We purchased well within our means 8 years ago, so it was a fair price with a good interest rate.
@@matts9728 You owned a house freehold at age 27?
I’m 57 . If I had $360k I would invest $100k in tech & $260k into dividend stock with a proven track record to grow with capital appreciation & dividend increase year over year
The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner
The best market strategy is to work with a credible investing coach. Since a while ago, I've been in touch with a coach, mostly because I lack the depth of understanding and mental toughness to deal with the ongoing market conditions. You lack the information necessary to succeed in a competitive market, not because you're doing anything wrong, but rather because of your lack of experience.
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Scam 👆
Had the bass turned up and my head started rattling
Mortgage pay down vs retirement investment.
You're an adult! Do what you guys want...
Dave taught you how to get out of debt already, the rest is up to you. His steps are a guideline, follow it or change it, but don't need to argue with Dave about it.
He has even said that once you become a chef, you can tinker with the recipe
Hahaha exactly 😂
@@alexc5369 mostly agree. The only thing I would say don’t mess with is debt. You don’t want to ow somebody 3% interest for the rest of your life. Doesn’t matter if you’re making 10% in stocks. Stocks are taxable income and don’t give you the stability of owning your own home and being out of debt.
Some of us question or debate as a way to gain deeper understanding.
There is nothing to argue about, he's wrong. It's basic math. If you have a low interest rate, over a long period it's worse to pay off your mortgage than to invest. The only reasons to pay early is if you don't have the discipline to invest the saved money or for the emotional feeling of being free of mortgage.
You can put whatever percentage you want into investing, Dave and others are just giving a number as a baseline. When you are increasing the money load in the bank, you can more or less spend and invest whatever you want on everything.
Nobody can become financially successful over night. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals.
@AustinWalker67 This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant by name Bridget Mary Turow and everything changed. I started enjoying huge returns from my investment.
@AustinWalker67 Bridget Mary Turow , lookup with her name online.
@AustinWalker67 Bridget Mary Turow her trading strategies is working for me for more than a year now and I’m making good profit from the stock market and she's 100% honest, reputable and trustworthy
THIS IS A SCAM THREAD- DO NOT CONTACT THIS PERSON 🚨🚨🚨 THEY WILL STEAL YOUR MONEY!
I invest 20-25% of my gross income each year. 15% is too low in my opinion especially pensions are harder to come by and not many people have employer matching.
Everyone should play with a compounding interest calculator at least once in their lives to see the potential over time. I'd invest 75% of my income if I could.
I sometimes play the good old times game too, when interest on savings was as high as high risk investment is promising you now to manipulate you into giving them your money.
Yes. Dave really doesn't answer the question as to why not to invest more than 15%. If I had to do it all over again from my 20s, I would have put in as much as I could.
That’s what Shaquille O’Neal says…Invest 75% then the rest is for needs and wants.
This guy's voice is deeper than my whole bank account
and meanwhile his bank account is still deeper than the voice of every singer out there
But now he's out of a job and a wife
Voice of an angel
@@jimwerther what happened to him?
@@Dr_Diaz
He cheated on his wife with the wife of a colleague. That violates Dave Ramsey's rules, and he was let go.
I miss Chris Hogan, he was an amazing Ramsey personality.
Same
He cheated on his wife, and Dave couldn't keep him employed at a Christian company with that knowledge. It's sad, but I think Dave made the right call.
Actually he hid it for over a year and has fired lower level employees for the same, which he's going through lawsuits.
I've been on an aggressive debt paydown path, and recently i needed to get a new Catalytic converter for my car. It was very discouraging. I'll be fine and we have the savings, but those things do feel like a roadblock to your momentum
keep at it!
Not sure of they have "HyperJar" in the U.S. but here in the U.K. I use HyperJar as a kind of second bank account because it allows me to put a little bit of money into loads of different "jars" which is great for these "unforeseen" emergencies. So for example I have a jar that I put £40 per month into for unforeseen car repairs, and a bunch of other "jars" that allow me to squirrelly away for these type of expenses. One is called "health" in case I suddenly need new glasses or an something, and another is for "household" in case I need to pay a plumber or buy a new washing machine.
I think this is one of the best videos Ramsey Solutions has put out explaining the rationale and intent of the Baby Steps. Explained with grace and to great effect.
Because 15% is what you save with car insurance
😂
Trump's policies had been viewed by many experts as more positive for the financials sector, spurring this massive rally. It's enticing to consider purchasing some cryptos and stocks, I'm contemplating investing more than $300k. Thoughts?
The fin market and crypto market might be broad and complicated, but if you do know what you’re doing, mit can also be very rewarding,.
It can also be very bad, I lost a lot trying it all by myself stock picking and selection and my portfolio on red, about nighteen months ago I got with A professional FA, I’ve now seen my $190k startup close to 2million in dividends. Without doubt professionalism is unmatched.
That’s a good amount for that time frame, can you say on who your adviser if you don’t mind.
My CFA “Diana Casteel Lynch”, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you.
We invest 70% minus taxes and insurance.. we are 42 and millionaires.. house paid for, college paid for, zero debt .. We invest my wife’s entire salary .. minus taxes and insurance.. and 20% of my salary .. we live off only my salary ✌️
That is so awesome! Congratulations, you guys are winning at life! ☺️
@@biancajingles2690 thanks .. I’m not saying it’s easy but it will be worth it in 10 years .. 😅
Can I hold some?
That’s awesome! What do y’all do and what are your incomes?
@@holdenmoreland3119 combined 200k ..
Life is so much less stressful when emergencies happen and you have funds available to pay for the expense. Our furnace went out earlier this year, and yes it wasn’t ideal and it caused a bump in the road but because we had a rainy day fund we were able to pay for in cash and just move on with our life. It was an inconvenience not a major tragedy.
An inconvenience is not an emergency though.
@@DeanBKKThat could have easily been an emergency if they didn't have the funds to pay for the furnace.
I recently sold some of my long-term positions and am now sitting on around $250k; do you think Nvidia is a decent buy right now, or have I missed out on a critical buying period? Any solid stock recommendations on fantastic performing stocks would be greatly appreciated.
Personally, I would say have a mentor. Not sure where you will get an experienced one, but if your knowledge of the market is limited, it seems like a good bet.
Some individuals minimize the importance of counsel until they make regrettable mistakes. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Finding financial advisors like Kenna Muriel Hesseling, who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
The comment Dave made about the Brooke college professor,.. I decided to finish paying off my student loans because one of my college professors was still paying off Joe student loans. That scared me straight.
Broke*
this madness is unknown in Europe. People pay tax their whole life while working. Why one should pay for college when getting educated in order to work for a tax-payer job? Formerly going to college was a guarantee to earn lots of money for the whole life. Nowadays without having a college degree you hardly find a well-paid job. Actually, many do not even find a job when having passed university. So de facto university degree has not much meaning anymore.
Similar experience for me - a coworker in his late 40s who made a comment "yep, still paying on my student loans. You have 'em for life"
And he didn't even *graduate* college... 🤯
*THAT* scared me straight!
I love this...
Brooke??
Love hearing this. Go forth and conquer.
I invest 80% and regret nothing
I invest 110% of my income into credit cards 🙌
The most common thing I hear about is people losing their home despite having a good income. Being raised in Mexico, my mom always owned her home. We were very poor but never, ever homeless. God forbid,
smart move !👍
Blessings from Taiwan 🇹🇼😇🥰
@donald johnson Since that was my mom's house and I have been in the USA for 20+years, I have no idea. But that's a good question, I'll ask her next time I talk to her.
@donald johnson it varies but quite low. typically well below 1%
@donald johnson it does vary depending on where you live, in my parents case, they own a home in a small town in Mexico and the property taxes for the year were under 300 pesos, which is about 15 US dollars 🥲
Food & shelter is essential
There is obviously a compounding effect in the very long term for large capital, but is not "automatic", and with the wrong strategies you can even lose more than you have, and selecting the correct stock without a proven strategy can be exceedingly challenging. I've been working on expanding my $210K portfolio for a while, and my primary obstacle is the lack of clear entry and exit strategies.
I think a good investment portfolio should have three basic things: ETFs for diversification, dividend stocks for cash flow, and leading tech stocks. With your budget, it's a good idea to talk to a fiduciary financial advisor for expert advice.
I fully agree with you. I also lost a lot of money when I first started investing on my own. Following the 2020 crash, I was able to withdraw almost $160,000. After working with an analyst to invest that money, I gained about $580,000 in just seven months. It's incredible how things can improve with the correct direction!
i'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
"Laurelyn Gross Pohlmeier," a well-known authority in this field. I would recommend looking into her credentials more because she has a great deal of expertise and is a great resource for anybody looking for advice on how to navigate the financial market.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Hello, I wish to start investing but i dont know where to begin. Any advice on how to invest my 200k cash savings?
Find the undervalued stocks to bring in a 50 percent annual return or consult with an expert to guide you.
Acquiring prospective assets with proper mkt direction will provide more returns than doing it all by yourself. Thankfully, I can attest to the success of this approach aided by professional guidance seeing my portfolio of $1.3m grow by 25% this year alone... maybe you should do the same.
pls how can I reach this expert, I need some investment guidance
Victoria Louisa Saylor is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Victoria Louisa Saylor is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Oh, good question. I've often wondered this. Especially if you're on the older end, say 42 with 0 in retirement. I see that he is wanting the house paid off first before you invest more. But, we have like 3% interest on our mortgage and only 48k left with a plan to pay off in less than 10 years. I don't think it's a bad idea to do more and pay off mortgage early at the same time. You'll never get the years of compound interest back. Everyone's situation is different.
is your mortgage paid off yet?!
Having listened to the Dave Ramsey show for 11 years now, this is a rare discussion that isn't a repeat, like 99% of the questions that have been asked before.
That’s the level of person he helps.
Yep, just like people get sick every year, requiring doctors to perform the same operation, people mess up with money every year and have to follow the same advice.
.
I'm guessing here, but I would say that 99.8% of our lives are repeats of lives that came before us. Each generation has to learn a significant portion of what the past generation already knew before they can start charting new territory.
If you invest more you can always convert those investments back into cash to pay off the house. Either way, it’s a good problem to have.
Excellent advice.👍
No, you can't always convert those investments back into cash. Investments are another form of gambling, and, in gambling, sometimes you win and sometimes you lose.
When you lose, you lose money, money which cannot then be converted to cash.
@@jeremiahmeade710 Agreed. Unless you’re holding investments long term, liquidating those for cash is extremely risky in the short term.
A 10 year early mortgage repayment, yes. But also you pay more in interest on the front end, so maybe it’s best to just pay off the house ASAP…
Dave Ramsey, you really are such a decent man in the way you explained the "falling off the waggon" - Thank you for sharing your ideas with the rest of us
After we paid the house off we saved 27% of our gross income for years.
Now retired we spend big bucks traveling the world, spending most of the interest.
hopefully youre still in good enough shape to enjoy it
@@immaculatesquid I think I have about three years of heavy travel before we slow down. We have been blessed!
@@texasboy5117 anyway since your retired you can now look after your health better and go to the gym
Such sound wisdom! Love it!
15% is a good start but not written in stone. 15% just happens to work well for most people.
Not for “most people” but for millionaires. 👍 Learn
@@k-mart7475 keep saying stuff like this and you will never have any money
@@k-mart7475 just keep watching cnn and worship Kamela Harris ok bud
@@AaAa-ri4uf what's wrong with you
@@ballista7367 drugs apparently. Seeing a problem that isn’t there.
Started at 40k debt 2 years ago. Down to 19k now and got a substantial pay raise recently and sold my stupid car decision and got into another older vehicle 1/3 of the value I originally had (but ironically I like more). Expect to be debt free this year for the first time in 14 years. Work the plan, people!
Congrats!
Congrats 🍾
You like that older car more because it’s the reason you have 300-500 dollars more in your pocket each month 👌🏾👌🏾
The plan really works.. congrats!
Nothing makes driving your car more enjoyable then knowing you could total it and just go out and just buy another one cash.
I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.{
Begone bots
Buy crypto, high risk high reward
The question is how does this have 1.5k likes? This seems way to easy to eliminate at this point....@@AgentGWG
My strategy has always been to invest 25% of my income in the stock market at the beginning of each month. The second part of my strategy is not to sell for at least 5 years, but recently my portfolio has suffered major decline about $150k in losses. What can I do please?
Look for stocks that have paid steady, increasing dividends for years (or decades), and have not cut their dividends even during recessions. which may reduce your dividend gains or income, speaking to a certified market strategist can help with pointers
Agreed. It's always wise to be proactive and consider diversifying our investments to manage risks in uncertain economic times. I delegate my day-to-day investing to an advisor ever since suffering a major steep-down late 2019, amid rona-outbreak, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments
I’m glad I found this conversation. My risk tolerance is high, and I want to take advantage of the market run. Can you direct me to your advisor?
*Marissa Lynn Babula* is the licensed CFP I use and im just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
I started investing in the stock market because of dividends. What matters, in my opinion, is that if you invest and earn more money in addition to dividends, you will be able to live off of dividends without selling. It implies that you can pass that on to your children, giving them a head start in life. I've invested over $600k in dividend stocks over the years; I continue to buy more today and will continue to do so until the price lowers even further.
@Margaret I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over 1.5 million dollars working with an investment coach for more than two years.
@@AlbertGReene-p8w she actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you sharing
Good old scam chats 😂
@@jaydenlabroski5593 yup im getting tired of seeing these bot chats lmao
My first investment was also into a dividend stock at 14. At 34, I cashed out part of that investment to put towards the down payment of my house. Nearly all of my investments have done extremely well over the long haul. A few were duds, but I've come out on top too. Once able, I invested far more than 15% of my income. I don't do Dave's plan of paying off my house first. It's not that I don't think it's a good idea, but my plan has worked exceedingly well for me, probably because I had the saving and investing habit established long before I bought my home. But I think his argument is sound and logical for the general population.
Multiple viewpoints. Dave Ramsey is right. A lot of it comes down to having to not get "too greedy" and live life while helping others and giving to those who also need help and allocating money for that.
I’m 18, living with parents. Make about 550 a week but 450 after paying 100 a week for rent and other stuff. I throw in almost every dollar into stocks. Right now I’m up over $2.2k
congrats，same here，can't wait to get started
That's very good
So I I'll advise you to invest more on stock and make more profit to yourself
Congrats!
keep that mindset as long as you can! you are setting yourself up for success
That was a good talk, one thing about saving $1,000 while your managing debt is if you don't save $1,000 for just in case then you can't save $10,000 for an emergency fund either.
I mean, you can always sell your investments, so it’s not really the same as becoming “house poor” or “car poor.”
Right. And you can reduce your monthly investments, too.
And you investment can tank.
Always diversify
Miss Big Chris and his voice. Nice to hear an "old" video in this morning's walk.
Recently retired and unsure if my 401(k) and IRA will provide a stable future. i need an approach that will align with my risk tolerance and financial goals, i set aside $1m to achieve this. Do you suggest i get into stocks or buy a rental property?
Look up dividend aristocrats. Pick six to ten from that list. Those companies have a track record of 25+ years of paying dividends. Also, its advisable you work with a financial advisor to help set up a well-structured portfolio.
On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal port-folio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my port-folio this red season. I’ve made over $150k since then
My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.
Credits goes to " Sonya lee Mitchell" one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
Sonya lee Mitchell steals money from senior citizens. She has a bench warrant issued for her arrest. DO NOT INVEST WITH HER!!! She is a scam artist.
I like the baby steps and its very straightforward and simple, my only question is on step 2 why use the snowball method when the avalanche method will save you more money long term?
I’m 19 and in the Air Force. Because my housing, food, and medical insurance is paid for by military (and no debt), literally the only things I need to worry about is my internet bill , data bill, and car insurance which all add up to about 300 a month. I only keep around 2k in my bank account and invest the rest which I guess is around 75% of my pay check. The reason I don’t have much money in my checking is because I don’t have many emergency obligations. I don’t need to worry about losing my job or about supporting a wife and kids. I am extremely blessed and thankful for the position that I am in, unlike many of my friends who didn’t put much thought into where their money was going. I know many of your circumstances are drastically different than mine, but being financially free for most people really just requires a little bit of prudence and self discipline.
That is a really amazing position to be in!
@@NicholleWillisLoves thank you! What does your position look like?
You absolutely should invest more than 15% if you are able to do so. I get that Dave is steadfast in his plan, but you can absolutely tailor it to your own situation, especially if you are playing catch up. There are people in their 30s-40s getting debt free with hardly anything in retirement, they need to be putting way more than 15% in.
No point getting to retirement with a mortgage, agree with Dave 15% whilst knocking out the mortgage, then scale it up to suit
I feel that way too.
If u listen they saying u can do more than the 15% once your mortgage n stuff is paid off
@@alexc5369 yes but most people could take out a 30 year mortgage and have it paid off for retirement and the reduced cashflow to the mortgage means they could have been investing sooner (compounding growth!). Dave's advice is meant for people with no self control and locking money away in their home is the only thing that forces them to not take the money out or waste it.
@@robby95036I wouldn't risk having a loan for longer than necessary. We're living through crazy times ! There's nothing to say that we won't live through another recession, another pandemic, that we won't loose our jobs, get sick or need to take care of a loved one that has gotten sick. I believe in reimbursing the loans (especially those without fixed rates) as fast as possible.
A Friend told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. is this a good way to potentially grow my retirement savings to about $3M over time?
You need to create your own process, manage risk and stick to the plan, through thick or thin or you can just seek the help of a financial advisor.
Having an investment adviser is the best way to go about the stock market right now, especially for near retirees, I've been in touch with a coach for a while now mostly and I made over $800K within a short time
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
My advisor is *Sharon Louise Count* . She is easily searchable on the web and has extensive knowledge of the financial markets.
A lot of these comments sound like spam. I don’t think you need a financial advisor. Read “Simple Path to Wealth” by JL Collins and you can do your own investing. Between Dave Ramsey and that book I feel like I know everything I need to know to build wealth.
This guy next to Dave has a fantastic voice for radio/podcasting ngl
Good question, sir
Having an emergency fund before becoming debt free allows you to cover expenses without creating more debt. This simple process has saved my butt in the process of debt elimination many times! Used to be in overdraft every month.
Dang! There's a lot of criticism here, today. Everything Dave suggests is just that: A SUGGESTION. Those who follow his tenets tend to do well. Far too many people in America have little to no financial guidance. If something else works well for you, great for you! You're special. If you're lost and found Dave, consider yourself blessed to have a guide who can get you on the path to financial freedom.
Right on! Dave gives sound advice.
Yes yes yes!!!
And everybody’s situation is different. These are general rules that when applied are 1000X better than what the average person is doing.
Well said!
Very true! And I think a lot of people forget that
Thank you Dave! Thinking I need to go back and review the baby steps to get us back on track…
What sets top investors apart from the rest? I've got $385K in equity from a home sale and I'm unsure whether to put it into stocks or wait for a more favorable market condition.
You're correct. I think the smartest way to go is to spread out your investments. By putting your money into different asset classes like bonds, real estate, and stocks from other countries, you can lower the risk if one part of the market goes bad.
Several individuals minimize the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm afloat. I looked for licensed advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
You seem to know the market better than we do, so that makes great sense. Who is the guide?
'Laurelyn Gross Pohlmeier' a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I’ve used the baby steps myself and share your concepts and videos with others who needed the message. Great basic advice for those of us wage earners.
I put 30% into savings and still feel like I’m overspending. I guess that feeling never goes away
You are. But if you're happy with 30%, fine.
My coworker put 30% into his 401k when he was a lot younger, by time he retired at the age of 53. He got a million in his 401k. Accords not everyone can afford 30% but he told me to put 15% then I’ll be fine. He has a household double income that’s why he can afford to put 30% into his 401k. But him and his wife has to talk it over and make it work for both of them.
To the emergency fund bit: some friends of mine and I are working through the baby steps, we found $1500-$2000 to be a better spot purely because these days that's what rent costs in our area and worst case scenario you can buy yourself time if it really hits the fan.
Me, who invested over 100% of my money because of inflation:
Ok...
very good video. thanks for the input/advice
I don’t think this is a bad “problem” to have. This isn’t even a problem. This person should feel lucky to be able to invest anything
Exactly
Lucky?
@@goncalo1485 She must be confused about how the baby steps work.. the point is to climb up them, not with luck but with persistence.
I agree with my girl Xena.
But it was a good question and provided clarification . No one said it was a problem.
Not an investment comment. I just have to say it:
After years in debt I finally said: ENOUGH!
Enough with auto-pay, it's not working. Enough being stressed. I went with paper-bill-statements. For the first time in three years, I'm not in the negative. I don't have much, but having a little, being in the green, is better than having nothing in the red.
Also, it's helped me not make any UNNECESSARY purchases. I can breathe a little again
Ramsey's plan is very carefully crafted to account for psychology.
oh wow! I’m gonna say that now.!
To add to that his plan is all psychological. And that’s what makes it work peoples money problem is all in there habits.
🤦♂️
Yupp! I would like a break down like this for every babystep for some deep understanding.
Yes, it takes the emotion out of it so we dont feel excited or disappointed
The percentage depends on your income. The more you earn, the higher the percentage. 15% at $40K income is fantastic. 15% at $200K income is not enough.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks.
@@BintuDelacroix Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY* , a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help...
@@ThamaraSchlossarek Oh please I’d love that. Thanks!
*MARGARET MOLLI ALVEY*
Lookup with her name on the webpage..
Smart advice, I’ve just started budgeting and this vid came up
Stocks looked to rebound Friday to close out a rough first few days in August, as the jobs report's release takes center stage and an earnings-heavy calendar continues. I’ve heard testimonies of people accruing over $250k this red period. What measures can I take to ensure this?
A solid strategy can be a key component of an investor’s portfolio. Well, the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals.
Yes true, I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor and I've been returning at least $98k every month so I’ve been sticking to investing via an Advisor.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
credits to NICOLE DESIREE SIMON, one of the best portfolio manager;s out there. she;s well known, you should look her up
Still good advice after years. I miss Chris as well!
Dave and Chris compliment each other. Great chemistry.
Thanks for commenting, I will refer you to my trade analyst and accountant to make good income, go more on digital assets
They complement each other. Although, they may sometimes say something nice to each other as well.
@@nowthatsurban I compliment you on your clever comment.
@@thedaveramseyshow8260 fake channel
Wow! Can't believe the channel replied to you! They don't do that often.
When I was working, I was putting 15% in my 401-K and 8% in my 401-k Roth. My job had both and I was there for 24 years. I retired in September of 2021. Do not regret it at all. I am getting SSI, Pension, and have a rental property. I have not touched my 401-K at all.
investment requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself.
how do I get in touch with the adviser i really need a help..
Thanks for the efforts you put in these. I found her and i leave her a message i await a response
Just put your money into an ETF?
Exactly, if you buy market portfolio (s&p500) you are literally maximizing risk to return payoff as you are directly on the capital market line and you are diversified, there's simply no better investment@@captain4318
Thank you Dave Ramsey
I invest 30% of each check I get. I don’t have a mortgage and my monthly bills add up to $1,067... so, i really don’t need much to live on and I can really save/invest a good chunk.
Did you pay off your mortgage completely or are you renting? Big difference in game plan based on your answer.
Arturo Torres yea, I don’t have a mortgage I rent.. i will have to adjust my investment approach if/when I do buy a property.
@@Bfolks84 I see. My take on this would be the sooner you adjust the investment approach, the more funds you would have for the real estate investment scenario. This is assuming the 30% investment your making is into retirement accounts.
Heck yes!
😈
Paying off your house and only investing 15% is dumb if you have a low interest rate, you lose more than you could have made through compounding interest
I have a mortgage that beats inflation and an ADU with rental income that nearly covers the mortgage. I don’t like the idea of putting my extra money towards the mortgage vs stocks. That seems wrong.
Psychology versus math.
You sleep better at night knowing the house is paid for. Lots of bad can happen, but you are okay.
Just like the turkey at the in-law's house on Thanksgiving tastes different if you owe them money.
Plus, in Australia you have to be carefull not to exceed 27500 per year intio SUPER (401k? in US?) otherwise every dolar will be heavily taxed
I think the Ramsey plan is about as good a plan as ive seen. The core tenets of: spend less than you make, budgeting, avoid debt like the plague, emergency fund, and invest for the future are unimpeachable. There may be some things id recommend as “optimizations” like …buy much less house than you need because your primary residence is not that great of an asset relatively speaking.
I agree! Robert Kiyosaki says your home isn't an asset, it's a liability.
0:12: 📈 Maximizing investment potential and diversifying income sources through various strategies and considerations.
3:14: 📈 Maximizing investment potential and financial growth through strategic allocation of income.
6:15: 📈 Maximizing investment potential and diversifying income sources.
Recapped using Tammy AI
I do 15%......but the other way around.......I LIVE on 15% of my income; I SAVE 85%.....I do this every month and have for years. I do not have a mortgage or any kind of debt, no car.
The argument is invest 15% whilst paying off the mortgage, then scale it up a lot, or invest more whilst holding a mortgage.
Man I’ll be honest if that makes you happy great, but it sounds miserable to me. Why aren’t you enjoying some of that?
im 21 living at grandmas and put 80% in lol
its pretty smart. our culture in the US, looks down at it fairly strongly, for grown males to keep living with family. But early 20's, its still very reasonable. shouldnt be in any serious relationship where your own place is "needed"(after 25, maybe) , i think you can ride that out for a couple more years
That’s smart
None of this matters if you think the process of building wealth is instant and easy.
Can you guys expand to the UK? There is serious need for what you do here
After a terrible 2022, shell-shocked financial backers have a lot to think about and losses to recover from. An expansion report and a wealth of other data did little to alter assumptions that the Central bank would likely keep raising interest rates regardless of whether the economy slows down. This implies that portfolios will experience more losses during the first quarter of 2023. I'm currently at a crossroads deciding whether to exchange my $250k security/stock portfolio; how might the continuous market volatility work to my advantage?
Concentrate on two main objectives. First and foremost, keep yourself safe by knowing when to sell stocks to reduce losses and maximize gains. Second, prepare yourself to gain from a market turnaround. I advise you to seek the advice of a representative or financial counselor
@@georgerobinson2021 In fact, ever since Coronavirus, I've been in regular communication with financial examiners. Nowadays, buying moving stocks is quite easy; the trick is knowing when to buy and when to sell. The section and leave orders for my portfolio are made by my counsel. accumulated more than $550,000 from a $150,000 savings that was initially stale.
@@harrisonjamie794 Please, how do I connect with your financial planner?
@@georgerobinson2021 This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. It once happened to me, then I learned my lesson and contacted a US-based finance consultant by name KRISTIN GAIL CUNNINGHAM and everything changed. I started enjoying huge returns from my investment.
@@harrisonjamie794 Thank you, Going through her profile on her webpage out of curiosity, and surprisingly she seems proficient. I appreciate this.
Im hyperfocused on this strategy and have been for years.What do you do if your spouse has no interest in any of this....I've been fighting her for years!!!!!!... she has never been a saver and in my mind never will be. It's all up to me...I'm mentally exhausted...help
Dave has done so much. Not sure why people hate on him
Dave’s system works well for beginners, people with debt they can’t handle. Once you gain some responsibility financially, there are better solutions. Most of the Dave haters are generally bitter towards most things.
You can totally invest more, just make sure it comes from the money you'd usually spend on your lifestyle.
So if I have a $100K that I could invest into an account that earns 8-11% compounding interest, why I pay off a financed home at $100K 2.8% APR and not invest the $100k?
People ask this a lot. Ramsey's answer is essentially "because it feels good psychologically." I figure the bigger lump of cash at the end of 15-30 years will feel better than the early pay off, lol.
Because the Ramsey plan is how to live your life. What happens if you get hit by a buss? What happens if you get cancer? What happens if that stock tanks? Do you have enough cash for 3-6 months? If everything goes according to plan, your idea will net more money. But do you have the right mindset for your money to retire and live well? He's not trying to teach stock brokers or bankers how to manage money.
Such a valuable video!!