“Y’all Are Broke People, Man!”
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As soon as I heard his voice I knew there was a truck payment
😭
Lol fr same
😂😂😂
😂😂
Bro
I swear "sell the truck" is part of half the calls from guys lmao
That tells you the demographic of most people calling in or listening or commenting lol
I'm still mystified why people have vehicles they can't afford. All I needed was to make sure I had extra headroom and that it was made by a reputable manufacturer. I bought a 2010 Honda Accord for $12K that had only 2K miles on it. It's sitting at 80K miles on it now and runs beautifully, and I plan to drive it another 14 years at minimum.
My biggest pet peeve with these callers lately: saying your house is “old” (2002 isn’t remotely an old house) so therefore it NEEDED work… but those works are just design updates. Your house may NEED a roof, or NEED a new furnace, or NEED a replaced stove, or NEED mold remediated. You do not NEED to have your worn and unstylish carpet or wrong-color cabinets replaced just because they don’t look like what’s trendy on HGTV. Those are wants, and you budget for them.
My house is 72 years old and has the original kitchen counter top. For thirty years, I've been planning to replace it but recently I changed my mind when I opened a decor magazine and saw my "retro" counter in a brand new "mid century modern" kitchen. 😂😂
Yep. My mom's house is about 20 yrs old and she's had to replace all appliances except the fridge, the water heater, update one of the bathrooms (linoleum was rolling up, vanity was falling a part, mold on ceiling), and replacing the carpet after 10 years with hardwood. The only additions to the home that was a want was a fence for a dog.
My house was 100 yr old house was fine?
@@lisalamphier1410😂😂
@@alishavogel792620 years is young for a house
Giving this man $100k is like giving a toddler a flamethrower.
The same for most 26 year olds. The good thing here is he can recover quickly if he choses.
😂
Funniest comment I have seen on a Ramsey video in five years.
Makes $130k and can't afford a $315k mortgage, sounds like a lot more going on here.
yeah most people are more like makes $52k cant afford payments on their 315k mortgage...
With the numbers he gave his payment would be about 35% of his take home. That’s really pushing it
If you put nothing down which they probably did they’re looking at around a $2800 payment which they could technically afford but it’s a stretch when you have a bunch of car payments and other debts.
@@J-wu8sc yeah that's how much my mortgage is.. My wife and I have been lucky bc we get $ for adopting 2 kids
@@evanhergert4259 P&I on $315K at 6.25% for 30 years is only $1940 (about 25% of his take-home), but when you include taxes, insurance, and PMI, I think you're right.
"House was built in 2002...very outdated." If the house has indoor plumbing and electricity, then it is NOT "outdated". I think his wife might be high maintenance.
Nah, I know what he means, mine was built in 2007 and needs interior paint quite a bit. In the kitchen, cabinets are looking like crap. But the house has always had kids who make messes, so, I mean if you are super clean and don't make messes, then yeah there'll be a difference. Also we changed out the flooring and new paint for the exterior. Exterior paint was because our HOA kind of made us.
Bloody hell 2002 wasn’t the Stone Age.
Or he is just weak-minded and stupid.
I guess I’m one of those weirdos I love old homes and decor if it’s been maintained.
I would argue that 2002 is relatively new for a house. The average home is probably older than 20 years.
2002 outdated? My house was built in 1920 lol😂
lol he probably means interior design wasnt what his wife liked...a house in 2015 can be outdated too if theres wallpaper, I lived in a house build in the 80's for years with tile flooring in the living room and wood flooring in the kitchen? lol
@@cutleryloverexactly. Mines 17 yrs old and definitely needs new interior paint. Just had the exterior painted. I have an HOA so they kind of made us repaint the exterior.. but it's fine bc It helps with resale, and honestly, you really do want to protect the exterior.
IKR !!😂😂 2002, like wtf. It's only a couple of years older than he himself is..
@@dummgelauft what? We're talking about the age and the condition of the house.
@@kbanghart 👍
Did anyone else laugh out loud to Dave’s reaction 😂?
Those of us that have done the same thing did.
Him trying to hold in the reactions was what made me laugh
I've missed Dave reacting like this with out of control callers
Bro, I had to pause the video and take that statement in. 😅
Dave saw his young self flash before him and became irritated INSTANTLY! ❤
When Dave dropped the pen when he said he used the money to buy another car 😂🤣
OMG HE TALKED WITH NO PUNCTUATION!! SHEESH!!!
No amount of money will save these folks from themselves!
I started listening to Dave at 19, I’m 27 now with no debt ( only my mortgage ) two cars paid in full. Stop financing cars that’ll keep you poor!!!
My buddy asked me why I’m still driving my old Corolla and that I can get a brand new one for ONLY like 500 a month I was like dude do you hear yourself?!😂
@@ItsSacredG a 500 a month payment, with no savings 🥴 most people look rich, but are actually poor.
Mortgage is debt
@@fc-ik4ni if you’ll read you’d see that I said my mortgage is my only debt
$500 a month WITHOUT full-coverage insurance. So really, it costs more than $500 just to drive that car 🤦🏼♂️
Caller is about to be a FATHER. He had BETTER do some serious maturing, and FAST!
Was waiting for dave to call him honey 😂
That’s my favorite thing
I’m confused… why do you need three cars if it’s only 2 persons driving… Who is the third car for? 😂
Private business lol😅
The baby.
@@LadyCaroline123😂😂😂
Why would you need 3 cars
I have 3….but I’m rich
I love it when Dave tears into people! These people need some help…
Some people act like it's their holy duty to have debt.
When Dave throws his pen down. LOL
Stop trying to "have it all" immediately. Pay as you go with a solid budget and do not use credit to finance a dream lifestyle. There are a lot of people who feel a need to "renovate to current styles" which is often an unnecessary moving target of desire, with emphasis on form over function. If a refrigerator works, it doesn't matter what color it is on the outside! Luckily you profited on the house sale. Don't be tempted next to get all the expensive, trendy baby items. Just know that being content with less than you make is the goal. Often "not yet, let's save for that" is the best answer. Put more into your relationships rather than in materialistic appearances. Draw a hard line on defining needs versus wants! You will eventually make progress toward your goals, just learn to embrace delayed gratification and live debt free with less stress.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get 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.
Hi. 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 child. 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
@@Lourd-Bab However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments
@@caseycantrell-gh6fg Oh please I’d love that. Thanks!
@@Lourd-Bab Judith Ann peace is her name
Lookup with her name on the webpage.
Listening to this guy after a minute, I wanted to scream “STOP” “just stop”!!!
@2:25 when he drops that pen😂😂😂😂
And 05:40 - I've caught up with you now - CLICK
Dave: "How can we help?"
Caller: "In the beginning was the word..."
Dave: "What is the question?"
Caller: "What should I plan for capital gains on a house and how do I breath on these cars?"
LMAO OMG IM IN TEARS!
Bro was giving everyone else's ages as if relevant
Uuhhhh YUP !!👍👍
6:05 Dave didn’t exclaim “Congratulations!” at the baby announcement, this time😆
Just imagine being the "family friend" who sells you a house below market value and then you cashout and make $77 thousand dollars off the generosity of this family friend. Sorry but that's a scumbag move- taking their equity and blowing on wasteful spending for yourself and you wife. You should have cut them a check for at least half of the profits. Headline should have been "Scammed a family friend out of $77,000"
The body language of Dave and John says it all!! They are like ‘man, what are you doing!!’
I love when people call in asking how to get out of debt while keeping their toys. Always gives me a good laugh.
I’m really shocked you guys spent this much time on this guy. So many people realize they’ve made terrible mistakes with money and really want to change. This person doesn’t seem that serious about changing.
hes also 26 people are 40 making his mistakes, hopefully he learns.
@@Chancemorgan44 I’m 42 And I’ve been there. Sometimes people really got to get kicked around hard before they change. That being said. I hope it doesn’t take him that long. Wish I would have woken up at his age
It is not as bad as Dave in making it out to be.
5 minutes?
Anyone who claims that they are not all about material possessions but obsesses with buying a house is lying. They were fone in an apartment and then they did this nonsense.
So his friend sold him the house at a discount for him to flip it and make 77k? Lol
Minus 10k he spent on cc so more like 60k minus tax
I would’ve sold the cars way before the house!
As soon as I heard him talking I knew this was going to be a Charlie Foxtrot!
"Thank God it' Friday", Oh god it's Monday"
2:25 Dave getting all fired up lol 😅
LEXINGTON, KY! WOW!
Man i love grumpy Dave 😂😂😂
John is gonna ask the caller if he can Breathe you just watch
Yes, breathing is good.
People always twist themselves into knots to justify stupid financial decisions.
'We live an hour from work'... So were gonna buy new cars and run their value down extra fast?
That’s a good point 😂 Let’s see how fast we can depreciate it!
@@kendrapratt2098every car I've owned, I've always driven way over 100k. Actually wait, I had a Hyundai once that had I think 140k when I sold it. All my other cars had close to 200k
They should have kept the house and waited to upgrade it. Idiots. He's probably letting the wife make all the decisions off of her emotions.
I feel investors should focus on under-the-radar stocks, especially given the present rollercoaster nature of the stock market, because 35% of my $270k portfolio consists of plunging stocks that were once respected, and I'm at a loss for what to do now.
I am seriously devoted to creating a stable financial future and am thrilled to participate.
Me watching this and trying SOOO HARD not to judge the boy but man oh man. Dave dropping the pen was a very MILD reaction really
when you need a call to feel better about your own situation, this is that kind of call
What is so special about those "trucks" that people dump bank account after another on them? Why can't they just use a regular car. If you deliver stuff regularly, maybe you should use a box truck?
Quit using “people” and narrow it down to “men”.
The bigger the truck the smaller the peen
@@jet4415a lot of women like buying trucks too simply because "it sits up higher"
I live in the deepest of the Deep South and I don’t know one woman who purchased a truck. They all purchase a SUV or a van to “sit up higher”. @@thedopplereffect00
How many handouts does this guy get? And still fucks it up?? It won't change
What handouts?
So a good deal from a friend is a handout? Don't be so jealous!
@@kbanghart Jesus Christ 🙄. He’s living rent free right now. That’s exactly what a handout is.
I recently made further purchases. Saving for a market slump is also a bad idea. There are different perspectives on recessions and depressions; we cannot always expect significant rewards; and taking risks is preferable to doing nothing. The bottom line is that by diversifying your portfolio and making sensible judgments, you will accomplish exceptional outcomes. In just 5 months, my portfolio's raw earnings increased by $608k.
Despite my conviction in your direction, my recent stock purchases, and the fact that I am an AMC shareholder, I have not been able to amass anything. I had been in debt for far too long before the collapse. What are the steps required in investing?
I completely agree, which is why I think it's important to delegate decision-making responsibility to an investment coach. Underperformance is essentially unimaginable given their specialized experience and education, as well as the fact that each of their skills is focused on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable events.
Working with an investment coach for over two years, l've made over $1.5 million.
Samuel Peter Descovich that's whom I work with
That is incredible! If he's this talented and has A-list skills, I'd like to speak with him. Even when I clone transactions using a MAM account, I continue to lose 20% of the time. Where can I locate his contact information?
SAMUEL PETER DESCOVICH
GOOGLE the name
I love Dave 😂😂😂 the pen drop
I swear, people's desire to own a "nice" car is one of the biggest problems they have, No one cares what kinda car you drive. I MEAN NO ONE! Car payments keep you poor, period. Just get a car that safely gets you from A to B for cash. Put all that "car payment" money in a mutual fund or EFT and you'll eventually retire a millionaire. I know it works, because I'm doing it now!
People do care. The people that “have” to drive the nicest stuff think they are better than those driving older vehicles.That’s why they feel the need to spend a fortune to look good to other people.
People need to stop caring about what other people think about them. It’s that simple.
@@seadragon1456 The only people that care are the delusional ones that buy the vehicle.
Alot of it is tied to low self esteem...they aren't winning at life so they feel if I drive this car that's pretty new and I can't afford...atleast others will think I'm doing better than I really am.
@@patriotdrone9566 most people will absolutely not retire a millionaire.
@@rally1461 That’s really sad and irresponsible. Saving and investing your way to at least a million is not difficult. Most people will need at least 3-4 million to retire comfortably
I miss Dave the savage. lol
Yea Navy federal gave me a really high limit. I applied and was denied at first so I got a *VRI TOKEN* , and I was approved for a capital one. The limit was so small lol but I took it and worked on it. Because if that it helped my credit and I believe that’s what made me finally get approved for navy fed with such a high limit. they're still working on increasing the capital one since it was so low. All in all I’m satisfied.
My fishin license was 15 more this year and my wife bought boots the same day with a coupon and the cashier had pigtails and a camo shirt I thought about getting at Cabela's last week...
I made the same face when I heard "0% down is what we got"
I feel bad for the friend that gave them the house for a good deal. Probably trying to help out a young couple. The friend should have sold the house at market value.
So they bought a house they couldn’t afford, sold within a year, so paying taxes on the profits and that best broke even after years worth of mortgage payments, and possible housework maintenance. Mans a real winner.
ANd on 77k profit, is not 35%.
What I don't understand is how they couldn't afford a 315K house with a 130k income.
@@jaredgates4310 Well after listening to the man ramble a Doctorate paper's word count into 2-1/2 minutes time (thankfully, others would have taken 7+ min), I can see how they couldn't figure it out. Very doable if they cut back, formed a budget and stuck to it. Now they get the pleasure of some stupid tax. Lord knows I've paid my share.
Man of just a few words!!
They couldn't afford that extremely cheap house with two incomes? Good grief...
$315k is extremely cheap?
@@1981lashlaruein 2024, absolutely
@@thedopplereffect00 It also depends on the location. I know that housing prices have skyrocketed in recent years, but there are still a number of nice houses in my area in the $250k and under range.
If I cut my friend a deal on something and they turn around and sell it for a substantial profit I would feel cheated.
If they sold it because they were struggling, I wouldn't have a problem with it.
@@jeremylewis5154exactly. My wife once was given a truck from her grandfather.. who has always been very controlling. We have two kids, so after a while she sold it, and he absolutely blew his top bc he loved it and couldn't believe she would sell it bc he gave it to her. Needless to say, we didn't talk to him much after that.
His wife is living it up isn’t she LOL
Amazing, Dave & John never asked what he spent all their money on.
People from Kentucky never disappoint
Truck yeah!
I know we only heard portion but Dave was a D to this guy
Be nice , he called for help .
Dave, We can't afford the taxation.
That truck will do it everytime! Haha 😂 gotta have my truck 🛻 vroom vroom!! 💨
Dave at 2:19 lol.
How are they struggling making 130k in Lexington, KY? 😂 these people must be living kings 😂
The way he just hang up on him mid sentence XD
They are not broke, have some cash 30k or so, paid off cars, good income, no rent. I’m confused why are they saying they are broke
Dave thinks everyone who makes less then he does, is broke.
how's that $130k income going to change after the wife has the kid and wants to be a stay at home mother? caller has a kid coming and is worried about extra vehicles.
That lady isn’t working another hour after the crotch skittle emerges 😂
Well at least they’ll save on child care if that actually happens
Of course this is close to home lol.
Get to the question, dafuq!
Houses built in 2002 are outdated and need lots of renovation to bring them up to the latest trends.
Following dave ramseys advice I owe 35k and will be out of debt in 9 months if I go aggressive! I'll be back when my debt is paid off
Seems that any title that has the word "broke" in it there is a truck payment in the mix. Still confused how a pick 'em up truck became a status/luxury vehicle.
Confused? just drive by any car dealership, you'll see how fancy new trucks are these days.
" Autopsy CSI on Dave " 😂❤
Lit ep
Remember we all learn from mistakes....
My pension is $110,000
I have a side job making 40,000. No mortgage. No CC debt. No car payments. And I still drive my 20 year old Toyota Sequoia.
I think it’s kind of funny that before a Dave Ramsey video I get an ad for a $90,000 SUV.
CPA here. at 120k income, they're not in the 35% tax bracket, not even close. They're paying like 24ish in their highest marginal rate. The higher percentage Dave always uses is great because it puts the fear of God in them... but they'll have a bit more breathing room than he thinks.
More like 22% marginal tax bracket. 22% for MFJ goes to $178K. And that's taxable income. As an MFJ they get a minimum of $27K standard deduction if their itemized don't exceed that. Enough ordinary gain on the sale of the house could push them to 24% but it would have to be considerable.
@@GAFB1122 either way, less than 35 percent. My point was more "everyone throws 35 percent out blindly" 😂
Their tax rate after deduction would be 22%. The same as if they didn't sell the house.
So basically they have to pay no extra taxes.
If they lived in California or New York it's pretty close
@@thedopplereffect00 Lair. A Google search easily disproves that.
Great video! I have a question, I have two fraud inquiries on my reports that I would like to get removed. I've seen your video regarding this, but Im still a bit confused. So I know my first step would be making a call with the credit bureau (Experian) but should I also make call what time? And would I be never stop sending a good compny *VRI TOKEN* to my friends and people I know regarding any credit situations
Damn Kentucky
Is it me, or did I basically hear he basically sell his house to afford his truck?😂😂😂
A 30-year 315k loan at 6.25% should have been no problem with a 130k income…and of course he goes and buys his wife a 2nd car the second the cash from the home sale hits their account.
You blew your nose in the Willie Wanka ticket🤣.
Dave is off on the taxes for ordinary income. He was stating 35%, sure if you make what Dave makes. 😆 They are paying 22% on that plus any state taxes due.
On 77k that pay 12%.
On they income, they pay 22%.
Both of the together, they'll pay 24%.
So basically they are only paying 2% effective tax.
Never let Dave do your taxes.
@@jimmymcgill6778 You are incorrect. And you will have to figure out why you are incorrect instead of me explaining it.
@@mph5896 How am I incorrect?
You can't say. Means you don't know.
@@jimmymcgill6778 You corrected me with an incorrect answer. You insult me stating I don't know, but then you demand an explanation. 😆
Fine, they make $130k, so the $70 something gets added to that. $27,700 standard deduction since married puts them into 22% tax bracket.
@@mph5896 I was off by 2%, big deal. Unalive me than.
And I wasn't taking deductions into account.
And you're wrong too. For 2024, standard deduction is $29,200.
So basically they're paying no extra taxes.
Because their tax rate would have been the same 22% anyway.
Still now where close to Dave 35%.
oh boy, dave was pissed! he's scary when he's like that.
Rent free! Damn if my husband & I were living rent free how much money we would have saved some people are very ignorant the more money some people have the more they waste smh
In the uk there’s no capital gains taxes on the property you live in 😊
we got $77000 on the house sale and instead of paying off the credit card we went out and bought a new car and got pregnant....
This caller seems reasonable. Nothing really stood out except what he owes on his truck which he could sell or pay off quickly because they have no mortgage or rent currently. He had 30k in savings before he got married. Right after he got married he paid his wife's student loan and car off. They lived in an apartment for a year until someone gave them a great deal on a house. They gave it a shot. Who wouldn't making 130k? Realized they couldn't do it after renovating via credit cards and sold it. He didn't blow the money. He put the 50k aside and called the show because he wasn't sure what to do next. Most of the confusion is because they didn't listen to the caller.
He bought a 22k car for his wife, is paying off a truck, and has a third car on top of that. That's all you need to know right there. Then add the fact they couldn't manage to pay off a 315k mortgage on a 130k income...
@Candisa he bought it in cash so it didn't go against Dave Ramsey principles. He knows the truck is a problem. That's why he called in.
@@jeremylewis5154 He spent 22k on a new car only for it to depreciate quickly by driving it for two hours every day, while having debt and not exactly knowing what he actually has after taxes. It definitely goes against Ramseys principles and it definitely goes against common sense, hence why he basically called him an idiot.
Ya this isn't a big deal like they're making it out to be
@@poolking25 -facepalm-
" WE TRIED ANYWAY ." I come from a business family with 2 Masters Of Economics. I failed grade 7 but math is not a guessing game for me.
We are retired and rich but if I let this guy try at our finances i will be living in a van down by the river. These people are DANGEROUS .....with money.
I make 128K a year and own a 13k car. No one cares what you drive...no one. Save money and don't buy crap you don't need.
Makes $130K, lives rent-free (in someone else's inheritance), flips a family-discounted house and pockets the money, but still can't stay out of debt.
2002 is an old house? So what is my 1908 house ancient? It has real 2x4's held together by square peg nails old growth hardwood floors. The only update I did was replace the Cedar shingle roof and bypass the knob and tube electrical wiring. The basement foundation is three feet thick basalt rock from the local Copper mines in the Keweenaw area.
Holy. Cow…
Jesus. This dude did the entire thing extremely irresponsible.
Selling that house with a great return..
Man just wasted.the. Opportunity he had. Could have been entirely debt free.
And woulda had a nice nest egg.
The are too spoiled. I don't great any stress ir anything that they had to go through hell for...aand I'm actually glad he pointed out the fact then getting pregnant was a bad idea.
Yeah. It's hard enough when you are doing thing correctly. Imagine leaking 130 a year and on your way to live paycheck to paycheck.
They'll pay $9,200 in taxes. They only pay 12% on 77k.
Or does that 77k adds on to the 130k income?
If that's that's the case. On 130k, they're paying , filing jointly, is 22%.. Add their 130k income, that's 203k. That would then be 24% tax rate.
So their effective taxes on the sale, is 2%.
But standard deduction is $29k. Say their tax rate would have been the same 22% anyway.
So basically they're paying no extra taxes.
Where is Dave getting this 35% from?
You only owe taxes in the profit, not the sale price.
Short term capital gains is included as part of your income. Long term capital gains is a fixed rate 0%, 15%, 20% based on your income. I think Dave said their case is short term capital gains so it is included as part of their income. The tax rate on their $77k will depend on what their adjusted gross income is after all of their deductions e.g. 401k, child credit, standard deduction, etc... I am not sure where Dave came up with 35% that seems high. I would guess somewhere between 15%-25% depending on their taxable adjusted gross income.
@@econ0003 After stand deductions. 29k for 2024. This would be their first kid. So they would get no child credit this year.
So they'll owe taxes on 178k. Still in that 22% tax bracket.
His "35%", most likely came from the sale price, and their income, combined.
Someone in real estate, and call themselves a "math nerd", should knw that you don't pay taxes on the sale price, but the profit.
@@jimmymcgill6778don't overthink it. Dave's just not good at math
Dude is just chasing his tail. In this conversation and in life.