Almost an year on from reading “The total money makeover” and watching the show on TH-cam all the way from the UK, buzzing to be getting out of baby step 2 into 3, just pending our car finance which will be gone pretty soon. I cannot begin to describe how good it is to get your paycheck and have your income available to your plans and ideas, instead of being fully committed to payments for things you bought with debt. It has certainly given us peace of mind, a way forward and a life plan which we were looking for. Thanks Dave and team!
I did it- and I do not understand why people find it difficult. I’m no genius- it was fairly straightforward. Complete the application online (that was around 2011), then I completed yearly or bi-yearly employment audits as I counted down the years. My debt was dismissed 2022. I’m an English teacher.
@@noname-ea First, it’s DELONY. Shouldn’t speak about him if you can’t even spell his name right. Second, if you truly think Delony is a narcissist you’re an idiot. He is the KINDEST, most empathetic, down to earth guy ever. Ramsey won the freaking lottery getting him on their team and he’s helping so many people!
@@TulsaDude He needs downtime to make jokes and be silly. His job is really heavy so just roll your eyes and move on. I just saw Dr. John at a sold out comedy show and he is so freaking hilarious IRL.
Love you guys but please do a new analysis on PSLF! I’m a teacher and just had my loans forgiven this past summer. I can’t be certain of the future of PSLF but for those who’ve been in it and are close to the ten year mark, it does work thanks to the revisions post Covid.
You know that LA county is huge right? As big as the fires are it's still a tiny fraction of the overall landscape there, just giving you some perspective
Working the public school system, myself and several friends were able to use PSLFP program. There was a deadline to file for temporary extended public service loan forgiveness program, October 2022.
Taxes on a credit card had me laughing so hard because I did the same thing 2 years ago and that was my turning point - how are TAXES so unimportant that I had to pay them with a credit card.
Their car advise is a little easier said than done, selling a car you have a lien on is kind of a headache when dealing with a private party. I bought a car that way once years ago and would never do it again. And replacing your car with a vehicle for 2k? Sure! Even a 5k car is a total piece of junk unless you buy from someone you know and they are doing you a favor.
@@rosedewittbukater5763 just searched Facebook marketplace in Omaha and found about 5 different minivans at or around $2,000 in about 2 minutes of looking. Must not be looking very hard or you want way too much and expect to pay nothing.
I think it might be a discipline issue, if they say 10k, people tend to be ok with 11k. I think it is to exaggerate the idea of gazelle intensity. Say 2 aim for say 6-8k.
18:45 ... Y'all didn't check the current value of the "$80,000 truck" ... it's paid off on a $90k income, which suggests it took him a while to pay it. Depreciation most likely hits, especially depending on the brand. And I believe he'll blindly take that advice and go buy a used 35k or 40k truck when his known truck is probably valued similar. Where is Jade or Rachel? They wouldn't miss that.
Why don’t the personalities hold the women accountable for bad financial decisions “financial infidelity” but when the shoe on the other foot the man get blasted????
To the one with the 85k truck….if it’s paid off, why even sell it? It would depend on what you can get from it, if it’s only worth 40k, it’s not even worth it
So it’s Married Filing Separate. You’re not single, you are married, you’re just filing separately. The IRS questions, did you receive a benefit from the other spouses income? Do you live in a nice house, drive a nice car due to this man’s income? They are notorious for getting money from where they can. You can file an injured spouse form but it’s not a get out of jail free card. You may need to truly “Separate” yourself from this man and see if he’s willing to come clean and clean his act up. Separating and not living together.
5:03 Disagree with John. In the case that “Covid” happens again they have the money set aside to pay off that rental. Why pay it off when there is almost 0 risk. If the renters don’t pay they literally can pay it off themselves. What other risk is there?
That's what happens when you worry about DEI instead of capable leaders. All the LAFD heads are paid $400k with trash degrees and 0 firefighting experience. The head of Water and Electric is a dunce being paid $750k and she's too dumb to turn the water on and the gas/electric off during a FIRE
I wonder what Dave would advise for someone living in Australia. The average home price is $959,000 and the median yearly income is just $65,000 before tax. We also can only fix our loans for about 3 years on a low rate. Would he simply say to rent forever? It’s not realistic. My husband and I put 20% on a $430,000 3 bedroom house that needs repairs, in an area that is usually going for $600,000. He earns $94,000 before tax. Together we used to earn about $140,000 before tax but I now stay at home with our daughter, as childcare fees are not worth it and raising our children at home is important to us. Where we live it’s ok but definitely wouldn’t want to stay here in the next 5 years, crime is rising. You can find cheaper, about $350,000 if you move out to the country side, however there is a lack of health services. You might have to drive 45 minutes or more for basic healthcare or 3 hours if you need a specialist (like I do). Our governments do a poor job at managing this, they keep building up the main cities and neglecting everything else. The average person here commutes 3 hours a day to work due to the traffic. And they keep bringing more and more people in when we apparently have a housing shortage.
@@TulsaDude yes correct, however it’s virtually impossible to buy a house that’s 25% of your take home pay on a 15 year fixed loan here, they don’t exist. And rent a lot of the time is more expensive. We already earn way more than the average person, and my husband is working 6 days a week 12 hour days to do so. Once our children are in school I’ll be able to work again and go back to a higher income and pay our house earlier. We’re 27, our trajectory so far is that less than 30% of my generation is set to own a house here. I actually thought about moving countries lol
I live in Australia & completely disagree with everything you’ve said! I’m a stay at home mum to our 3 boys. We fixed our $250K home loan for 5 years at 3.84% 2 years ago. We had originally bought for $270K. A little town in the GC hinterland, my husband commutes 40 minutes to work, earns $150K before tax. We have a great little hospital & medical centre. A better life is out there, but you have to make sacrifices.
Hi! Just wanted to comment about student loans. My student loans were forgiven through the PLSF program in October 2024. I owed $220K after earning my doctorate in counselor education and supervision. My colleague also had student loans. She owed $450K. She graduated with her doctorate and her loans were forgiven last month.
John, "Can you turn around and buy a new Roth with it [the RMD]. George, "yeah." UH, NOOOOO. WTH with these guys. Roth IRA contributions are a limited amount per year, based on your age and MAGI for your filing status, and you must have earned income equal to at least the amount of any annual contribution. You take an RMD as taxable income - do with it what you want, but you can't just flip whatever that amount is back into an IRA. It has become income to you and is subject to the same rules as any other Roth contributions or conversions. These are Ramsey "personalities" and they get a lot right but TRIPLE check any investment advice you hear on this show. As far as I know, none of them are CPAs, CFPs, or lawyers.
I would never take any financial advice from them. They don't even know what they don't know. I go to my CPA and CFP for my financial and retirement questions and concerns. They are true experts, not just some "goob on the radio" as Dr. John always calls himself.
12:30 Dr. John, good question about the inherited Roth distribution (can you turn around and reinvest it in a Roth account). George, horrible answer!! NO, YOU CANNOT REINVEST A ROTH DISTRIBUTION INTO ANOTHER ROTH ACCOUNT! I thought you, George, were studying for your CFP. I'm not anywhere close to being a CFP, but even I know that answer. This right here is why you shouldn't take investing advice from this show. They don't know what they don't know. It's scary.
Whatever students worked for John, they weren't very intelligent😅, the PSLF is very simple. I work with teachers that file for this every year and get loans forgiven. It is a simple process and application. Those people you know that were denied (if that's true) screwed something up or were never eligible, that's on them
I assume a large percentage of those that applied but were denied, were never eligible, or missed payments, etc etc. they apply erroneously and the figures get all jacked up. Not saying it's a perfect program, just saying that it's the applicants that screw up most of the time
The doctor has no clue how PSLF works. The program does not halt your payments. It’s a plan that truly only helps people who are on an income- based repayment program. If the pharmacist works for nonprofit then he should apply, BUT he still has to make in time payments for 10 years. So if he makes a lot of money, his payments will likely be higher and could pay that loan in 10 years by himself. My point is, there’s no harm in applying. Any balance after those 10 years will be forgiven. He likely won’t have a huge balance left at that time since he’s been making on time payments. He WILL get credit for his public service years.
Public service forgiveness isn’t the same thing as college loan forgiveness as most people think about it. It’s disingenuous to lump public defenders in with people,who got degrees in Bs programs that don’t want to pay it. We wouldn’t have public defenders if there wasn’t forgiveness. Its the only way the pay is equitable to private practice.
The guy that called from Raleigh, his wife is out of control. She also has bad credit if the APR is 15%. Also, who pays $1000 a month for insurance. I have insurance on all of my vehicles, I have never seen a $1000 a month insurance. He must have misspoken or I didn't hear it correctly,.
Well they did pay my student loan off but the bill is with the taxpayers if you know what I mean. Still I owe 100,000 plus less than I would otherwise.
Not in FLorida!!! As a Landlord with Investment property..... The laws are all in my favor. COVID Pandemic or no Pandemic. My investment properties are safe in Florida.
I'm sick of this mundane conventional knowledge, guys. Head to Sombrya and read the forbidden books, only then will you truly gain knowledge about money
Caller 1 - 01:20
Caller 2 - 10:05
Caller 3 - 22:35
Caller 4 - 33:40
Caller 5 - 40:20
Caller 6 - 44:00
Caller 7 - 55:10
Caller 8 - 1:10:00
Caller 9 - 1:17:30
Thank you so much for doing this 🙏🏻
GOAT
Almost an year on from reading “The total money makeover” and watching the show on TH-cam all the way from the UK, buzzing to be getting out of baby step 2 into 3, just pending our car finance which will be gone pretty soon. I cannot begin to describe how good it is to get your paycheck and have your income available to your plans and ideas, instead of being fully committed to payments for things you bought with debt. It has certainly given us peace of mind, a way forward and a life plan which we were looking for. Thanks Dave and team!
To the guy who creates time stamps for callers - I relay on you so much, you are truly missed.
Yeah!
Although there were leas annoying ads today.
Beautiful advice, thank you!
I can hardly listen to the first caller. The chaos reminds me of the drama I’m free from. Thank you fellas. I’m a baby step millionaire.
Yes, what's the point of all this, just live on your income and be free
Financing a vehicle for $17k for your teenager is moronic
AGREE GET A BIKE
Amen
Great show today! Thank you to the DREAM team for braving the snow to make it happen. We love you guys! 🩵
The dynamic duo 🩵🩵
John and George! I love you guys! So happy to see that you are the team this time around!!
Yes, before COVID, PSLF was complicated and difficult to navigate. In fact, I was doubtful as well but it worked out. Good luck.
I did it- and I do not understand why people find it difficult. I’m no genius- it was fairly straightforward. Complete the application online (that was around 2011), then I completed yearly or bi-yearly employment audits as I counted down the years. My debt was dismissed 2022. I’m an English teacher.
These guys have great chemistry. They’re pals.
Not really.... Deloney is a communal narcissist and pretend big time.
@@noname-ea First, it’s DELONY. Shouldn’t speak about him if you can’t even spell his name right. Second, if you truly think Delony is a narcissist you’re an idiot. He is the KINDEST, most empathetic, down to earth guy ever. Ramsey won the freaking lottery getting him on their team and he’s helping so many people!
@@flashthecorgi2053sometimes I like him, sometimes his sarcasm and jokes are eye rolls.
@@TulsaDude He needs downtime to make jokes and be silly. His job is really heavy so just roll your eyes and move on. I just saw Dr. John at a sold out comedy show and he is so freaking hilarious IRL.
Love you guys but please do a new analysis on PSLF! I’m a teacher and just had my loans forgiven this past summer. I can’t be certain of the future of PSLF but for those who’ve been in it and are close to the ten year mark, it does work thanks to the revisions post Covid.
Does Nitish still have his cars in LA? As George says, "It can all come crashing down." Truer words never spoken in light of recent events.
You can tell he is calling because he doesn't know how to convince his wife. Not because he can't find an advisor
You know that LA county is huge right? As big as the fires are it's still a tiny fraction of the overall landscape there, just giving you some perspective
Working the public school system, myself and several friends were able to use PSLFP program. There was a deadline to file for temporary extended public service loan forgiveness program, October 2022.
You guys are awesome 💯🙏🎊, I love listening to all of you-- keep being a blessing👍🎊
That mom is not selling her daughter’s Corolla 😜
Taxes on a credit card had me laughing so hard because I did the same thing 2 years ago and that was my turning point - how are TAXES so unimportant that I had to pay them with a credit card.
Great show John and George!
Lol I love John's "cool guy" voice 😂😂😂
Cringe
How has this guy not filed in the last 20yrs??? How is that even possible? How is the IRS not going for him?🤯
The fact that nobody talks about the forbidden books on sombrya speaks volumes about how people are stuck in a trance
Totally agree. The chapter about hot dog, bologna, chicken and macaroni were spot on
Their car advise is a little easier said than done, selling a car you have a lien on is kind of a headache when dealing with a private party. I bought a car that way once years ago and would never do it again. And replacing your car with a vehicle for 2k? Sure! Even a 5k car is a total piece of junk unless you buy from someone you know and they are doing you a favor.
If you buy a $2,000 car you will put $1,500-$2,000+ into repairs within the first year. There's a reason you got the car for two grand.
@@RCh-k5dokay so it's a 4k car, still cheaper than what most people do
And they can't cover every single exception and nuance
This man is wow ! so good that he’s calling for financial advice 🎉
Come on,guys, it's 2025. Please stop telling callers to buy a $2,000 car. Maybe in 1995, but not 2025.
Someone needs to call the whambulance
I’m literally selling a 2010 Dodge Grand Caravan for $1,600 and nobody wants it. So yes, there are tons of $2,000 cars out there to buy.
Totally agree. Even where I live in Omaha,Me this is not possible. We're looking at a bare minimum of $5,000 for a junker car.
@@rosedewittbukater5763 just searched Facebook marketplace in Omaha and found about 5 different minivans at or around $2,000 in about 2 minutes of looking. Must not be looking very hard or you want way too much and expect to pay nothing.
I think it might be a discipline issue, if they say 10k, people tend to be ok with 11k. I think it is to exaggerate the idea of gazelle intensity. Say 2 aim for say 6-8k.
18:45 ... Y'all didn't check the current value of the "$80,000 truck" ... it's paid off on a $90k income, which suggests it took him a while to pay it. Depreciation most likely hits, especially depending on the brand. And I believe he'll blindly take that advice and go buy a used 35k or 40k truck when his known truck is probably valued similar. Where is Jade or Rachel? They wouldn't miss that.
Well said guys. Thank you .
Why don’t the personalities hold the women accountable for bad financial decisions “financial infidelity” but when the shoe on the other foot the man get blasted????
Becuase they are closet establishment liberals.
Thats why they tow the line on the stock market.
Because they have to follow the script, and can't think for themselves.
They do that a lot, it's annoying.
To the one with the 85k truck….if it’s paid off, why even sell it? It would depend on what you can get from it, if it’s only worth 40k, it’s not even worth it
So it’s Married Filing Separate.
You’re not single, you are married, you’re just filing separately.
The IRS questions, did you receive a benefit from the other spouses income? Do you live in a nice house, drive a nice car due to this man’s income? They are notorious for getting money from where they can.
You can file an injured spouse form but it’s not a get out of jail free card.
You may need to truly “Separate” yourself from this man and see if he’s willing to come clean and clean his act up.
Separating and not living together.
Amen financially free 👏👏👏🇨🇦
Mam how much do you earn now? Please reply. Thanks a lot.
Whah, Whah.😢.
I make 6 figures because I took out student loans, but I don't want to pay back a loan that I signed for.
SHEESH
5:03 Disagree with John. In the case that “Covid” happens again they have the money set aside to pay off that rental.
Why pay it off when there is almost 0 risk. If the renters don’t pay they literally can pay it off themselves. What other risk is there?
some of the most expensive real estate in the world's now burning down in CA
mismanagement 😢 As a Californian im so disappointed about this tragedy
That's what happens when you worry about DEI instead of capable leaders. All the LAFD heads are paid $400k with trash degrees and 0 firefighting experience. The head of Water and Electric is a dunce being paid $750k and she's too dumb to turn the water on and the gas/electric off during a FIRE
And arson
You have no perspective on how big California is.
The thumbnail 😂😂😂
I wonder what Dave would advise for someone living in Australia. The average home price is $959,000 and the median yearly income is just $65,000 before tax. We also can only fix our loans for about 3 years on a low rate. Would he simply say to rent forever? It’s not realistic.
My husband and I put 20% on a $430,000 3 bedroom house that needs repairs, in an area that is usually going for $600,000. He earns $94,000 before tax. Together we used to earn about $140,000 before tax but I now stay at home with our daughter, as childcare fees are not worth it and raising our children at home is important to us.
Where we live it’s ok but definitely wouldn’t want to stay here in the next 5 years, crime is rising.
You can find cheaper, about $350,000 if you move out to the country side, however there is a lack of health services. You might have to drive 45 minutes or more for basic healthcare or 3 hours if you need a specialist (like I do). Our governments do a poor job at managing this, they keep building up the main cities and neglecting everything else. The average person here commutes 3 hours a day to work due to the traffic. And they keep bringing more and more people in when we apparently have a housing shortage.
Gosh, I thought things were bad in the US.
@@loribrooks7964 not as bad as in Australia. US actually has lower cost of living and better opportunities with housing.
They can't change your circumstance, only you can
@@TulsaDude yes correct, however it’s virtually impossible to buy a house that’s 25% of your take home pay on a 15 year fixed loan here, they don’t exist. And rent a lot of the time is more expensive.
We already earn way more than the average person, and my husband is working 6 days a week 12 hour days to do so.
Once our children are in school I’ll be able to work again and go back to a higher income and pay our house earlier.
We’re 27, our trajectory so far is that less than 30% of my generation is set to own a house here.
I actually thought about moving countries lol
I live in Australia & completely disagree with everything you’ve said! I’m a stay at home mum to our 3 boys.
We fixed our $250K home loan for 5 years at 3.84% 2 years ago. We had originally bought for $270K. A little town in the GC hinterland, my husband commutes 40 minutes to work, earns $150K before tax. We have a great little hospital & medical centre.
A better life is out there, but you have to make sacrifices.
Hi! Just wanted to comment about student loans. My student loans were forgiven through the PLSF program in October 2024. I owed $220K after earning my doctorate in counselor education and supervision. My colleague also had student loans. She owed $450K. She graduated with her doctorate and her loans were forgiven last month.
John, "Can you turn around and buy a new Roth with it [the RMD]. George, "yeah." UH, NOOOOO. WTH with these guys. Roth IRA contributions are a limited amount per year, based on your age and MAGI for your filing status, and you must have earned income equal to at least the amount of any annual contribution. You take an RMD as taxable income - do with it what you want, but you can't just flip whatever that amount is back into an IRA. It has become income to you and is subject to the same rules as any other Roth contributions or conversions. These are Ramsey "personalities" and they get a lot right but TRIPLE check any investment advice you hear on this show. As far as I know, none of them are CPAs, CFPs, or lawyers.
I would never take any financial advice from them. They don't even know what they don't know. I go to my CPA and CFP for my financial and retirement questions and concerns. They are true experts, not just some "goob on the radio" as Dr. John always calls himself.
12:30 Dr. John, good question about the inherited Roth distribution (can you turn around and reinvest it in a Roth account). George, horrible answer!! NO, YOU CANNOT REINVEST A ROTH DISTRIBUTION INTO ANOTHER ROTH ACCOUNT! I thought you, George, were studying for your CFP. I'm not anywhere close to being a CFP, but even I know that answer. This right here is why you shouldn't take investing advice from this show. They don't know what they don't know. It's scary.
Can you redistribute funds in that account from a single stock to a mutual fund?
8:19 so trueee, free yourselves!
WHY is Nitish calling a call-in radio show? He can't get a professional financial planner???
He wants free advise duh
@@catherineestrada587 From people who are NOT in the same wealth league as he is and who are not experts in financial advice and planning? Okkkkkkkkkk
Cheap
@@Trustbutverify2651 Possibly because they're all fleeing LA right now?
The Ramsey personalities are at his financial level...
Whatever students worked for John, they weren't very intelligent😅, the PSLF is very simple. I work with teachers that file for this every year and get loans forgiven. It is a simple process and application. Those people you know that were denied (if that's true) screwed something up or were never eligible, that's on them
I assume a large percentage of those that applied but were denied, were never eligible, or missed payments, etc etc. they apply erroneously and the figures get all jacked up. Not saying it's a perfect program, just saying that it's the applicants that screw up most of the time
Pres. Elect is trying to get rid of the FDIC.
What Dave have to say about this?
The doctor has no clue how PSLF works. The program does not halt your payments. It’s a plan that truly only helps people who are on an income- based repayment program. If the pharmacist works for nonprofit then he should apply, BUT he still has to make in time payments for 10 years. So if he makes a lot of money, his payments will likely be higher and could pay that loan in 10 years by himself. My point is, there’s no harm in applying. Any balance after those 10 years will be forgiven. He likely won’t have a huge balance left at that time since he’s been making on time payments. He WILL get credit for his public service years.
Most discussions involve couples....what about the single parent with debt and just a mortgage
Listen more.
Public service forgiveness isn’t the same thing as college loan forgiveness as most people think about it. It’s disingenuous to lump public defenders in with people,who got degrees in Bs programs that don’t want to pay it. We wouldn’t have public defenders if there wasn’t forgiveness. Its the only way the pay is equitable to private practice.
What does nitish from los angeles do for living? Please reply. Thanks a lot.
The guy that called from Raleigh, his wife is out of control. She also has bad credit if the APR is 15%. Also, who pays $1000 a month for insurance. I have insurance on all of my vehicles, I have never seen a $1000 a month insurance. He must have misspoken or I didn't hear it correctly,.
Lucas isn't following the advice, no way
"The romance, the sex, the intimacy" dude he just called about investing.. why does John have to push a narrative so hard
Huh
Well they did pay my student loan off but the bill is with the taxpayers if you know what I mean. Still I owe 100,000 plus less than I would otherwise.
Stay away from new builders!
George's attitude was "short".
Bitcoin consistently outperforming the market.
Get a 30 year.
Almost nobody keeps a mortgage to term.
I BET THIS GUY NOT WORTH A DIME AFTER THIS FIRE GOIGN ON ???
The show was this morning… the entire of city isn’t burnt down lol
🙏🇨🇦
Here is the ratings based on what you all think, regarding best all-around Host advice. 1. Dave 2. John 3. George 4. Ken 5. Jade 6. The Daughter
1. Dave
2. George
3. John
4. Jade
5. Rachel
6. Ken
I’d put Jade above Ken, otherwise agree
"The Daughter" ????? She doens't even deserve a name? (It's Rachel btw)
I think Rachel is #2... she gives great advice and is so sweet.
@@Carrie_L7 yeah, Rachel deserves higher. No offense to Ken, I just feel like he talks a lot but doesn’t say much, you know?
Wanda.
Short term T bills.
Stay out of the market.
Wow. These guys can predict the future.
See you in 7 years for the stock market doubling....
Dephony still at it
Not in FLorida!!! As a Landlord with Investment property..... The laws are all in my favor. COVID Pandemic or no Pandemic. My investment properties are safe in Florida.
First Caller. OMG Horrible call. Boring. I fast forwarded to Caller number two.
Sombrya contains all the secrets of forbidden money books; they changed my life
Sombrya - forbidden money books (thank me later)
WHAT IS SOMBRYA?????
I'm sick of this mundane conventional knowledge, guys. Head to Sombrya and read the forbidden books, only then will you truly gain knowledge about money