My Advisor Says I Shouldn’t Pay Cash for a House
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I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
well you could put a downpayment on a home and as well diversify as much as you can into Ai and pharm. stocks like Pfizer and JnJ.
Certain Ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I.
this is all new to me, where do I find a fiduciary, can you recommend any?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
I really feel for these struggling millionaires, especially the ones who earned their wealth themselves via divorce
such a brave woman...
Hearing this woman's I remember the saying: Why is divorce so expensive? Because it is worth it.
@@chuckmuckamuck8001 And what Eddie Murphy said, stuck with me forever, ‘half.’
She probably earned it
@@pamsmith1665 why do you think she earned it.
L take. She probably didn’t stay married for 25 years and wake up suddenly only wanting his money
Need to ban lifetime alimony
Yeah 62k a year is way too much incentive to shorten that lifetime.
Shes 60 though.
Disagree. They were married 25 years. She is 60 yrs old. You don’t know how much he is making a year or has made in the 25 years they were together. She deserves that for the 25 years.
@@lr9010Why should one grown person provide a living for another grown person? Because they married the wrong person?
@@truthsayer9534 they were both in the marriage. Why does he need to pay her and she doesn't have to pay him?
62K a year tax free from getting divorced? That's exactly why guys shouldn't be getting married these days....
If money was the measure of quality of life yes, but since good family seems to be the greatest predictor of quality of life I disagree
Only if your a big income earner then possibly don't get married. If your a normal income earner in this economy you need to.
Yep
Exactly man, I’m right with you on that one
She loves talking about that alimony …men, don’t get married! Women only want one thing in the end…your money!
“Horrible divorce ” where you have to worry about how to spend 1.6 mil 😢😢😢
You sound broke.
@@superblump87 you sound divorced 😂
@@jot5445 why?
@@jot5445 you ok?
Horrible - it's not all about money
Dear Dave Ramsey, I took my husband to the cleaners and I’m stressed…
Husband probably was cheating with a woman 20 years younger
I get almost double the median household income for the rest of my life for doing nothing at all AND I have over a million in savings. WOE IS ME!
If I could purchase my dream home for 37% of my savings I would write the check RIGHT NOW.
especially if you're getting 60k/year tax free from your ex you raked over the coals...sheeeiiiittt.
@@godfathaofyo 60, not 6 🤣
@@darex0827 correct, typo on my part....its wild what she got, lol
I’m suspicious the “financial advisor” wants to make maximum profits off her cash. Her dropping 600 out of 1.6 puts a dent in his plans. She says “my ex husband” did all the finances. She’s easy prey for all the “advisors.”
Yeah, horrible divorce for HIM....
Why? You have no idea what happened or her contribution over 25 years
It doesn't matter what she did or what her contribution was..they are no longer married and she needs to support herself, unless he wanted to give her the money, otherwise he got screwed
@@diamondgarcia5312 no. There many circumstances that you don't know. She may have been contributing big time in non financial ways, like taking care of the kids. She was not developing herself professionally, so she needs time. Half of the marital assets are fair. Alimony should be limited, my state caps at 10 years.
Such a bitter man, they were 25 years together, this wasn't a quick grab and go.
😅@@greggpurviance7252
Dave would tell her needs a less expensive home
SHE NEEDS RICE AND BEANS, BEANS, AND RICE!
@@JakeStewart1343
No Dave’s rice and beans only applies to broke people that need to save every penny to get on a good pathway. This ladies issue is potentially blowing her money.
No Dave’s rice and beans only applies to broke people that need to save every penny to get on a good pathway. This ladies issue is potentially blowing her money
He made all the money and she gets all the benefits.
He probably had a side piece..now it's her turn. He is broke, girlfriend moved on. Poetic justice!
@@pamsmith1665You just made all of that up.
@@rickenbacker472That's probably what happened. Divorce at this age has an incredibly high probability of infidelity which is also much higher % of being the man. So i mean yeah. If they were much younger those numbers equal out to either spouse being probable of infidelity.
@@crashtestdummy1972 Wow, two psychics.
As messed up as it sounds, he agreed to this when they got married. Marriage is not a cute party. Its a legal contract.
Any young man thinking of getting married should watch this video.
Heard of a prenup? You are the specific reason why in today’s america, children grow up with in a single parent household.
@@chookchack Judges can throw out prenups on a whim. Bottom line, the West is doomed and women made it happen.
@@chookchack a prenup doesn’t apply when the wealth is made during marriage. I doubt he was making a lot before they got married twenty plus years ago
@@chookchacklol women suck nowadays who would wanna get married to someone that complains all the time and wants to play the mans role
Nightmare scenario for the husband
She sure did fleece her ex
She lived like no one else so she can blow her money on this house like no one else.
You have no idea what he did to deserve it
@@dnah02😂😂😂❤
@@pamsmith1665 she probably monkey branched to a personal trainer
@@pamsmith1665do you?
Alimony should not be lifetime.
Alimony should be 2-3 years tops. That’s more than enough time for the spouse to get a job and to earn their own income.
Florida already ended lifetime alimony recently I think.
Imagine paying your ex 60k a year just cause you didn’t wanna be together anymore
Depending on the marriage that might be a small price to pay lol
You mean just because she’s unhappy
Maybe he makes 1 or 2 million a year.
Dear ladies….callers like this aren’t helping you with how men view modern women.
It's not their fault - it's the system. If men could be layabouts for 20 years then divorce their wife who was a veterinarian and walk away with 1.6 million we totally would. Hate the game not the p-p-playaaaa.
But it will help ladies with how to marry rich men and get rich 😂😂😂
Is a 60 year old woman modern to you?
Just say ur broke
she's 60! LOL
I doubt this lady was worth what it cost her poor husband. 😂😂😂
Hes a moron should have never married down to a woman of this caliber 62000 a year for life and 1.6 million guarantee she filed for divorce
💯
And you have no idea
@@pamsmith1665 Listening to her gives a person a pretty good idea. 👍
Remember fellas....it's never free
The title of this vid should be "Why smart men don't get married"
Actually, it has nothing to do with getting married. It has to do with picking your spouse. I make a good salary. My wife makes even more. Her husband was probably a very high earner and she stayed at home and did nothing once the kids left. He found somebody younger and that’s that.
@@patty109109
Has a lot to do with getting married.
If it wasn’t marriage wouldn’t be so risky.
When you and your wife are in 70s still married or one becomes a widow you’re good..
Other than that you don’t know what type of woman you picked yet.
She’s 60 and that was part of the agreement when she married. You’re assuming she came to the marriage with nothing.
60 years old and building a house at 600K!!!!??!!!😮
What does a 60 year old do with that house. In the rest of the world it’s done opposite. At 60 years old you’re selling your house to go into a smaller house / apartment. This is the reason why Americans are always financially struggling. Buying “stuff” not needed.
The caller thought she just won the lottery and was ready to spend it all. But because she receives alimony until she dies, she won't be financially destitute even if she just wastes it all.
You shouldn’t care 😂 It’s her money
@@georgelien
Yeah that’s why I never care when women that age are homeless and lower living standards because of their actions. Like you say it’s their money.
I have a cottage in the back of our house. Plan is to live in the cottage when we are older and rent the front of the house. A huge house makes no sense to me for 1 or 2 peoole
@@MachaLatte123
More like downgrade than destitute with a lot of money wasted.
My buddy’s wife cheated on him with my friend’s other very close friend. She got half. She ruined two families and got paid. It’s bs.
Custom built is almost always triple the budget and triple the time. Plus she is 60 and wants a $600K house?? Why… enjoy your life. Travel. Be more intentional with life and not just stuff. That’s too much house for a single person. Doesn’t make sense to me but she has the money so it’s her call. Personally I wouldn’t do that
Maybe she wants to host her kids and grandkids.
Exactly
She already bought the land plus the house is 630k. She is in for at least 700k making about what would be equivalent to 100k. So 7x her income which will drop in the near future all for 1 person in a house. Terrrrrrible investment. Ramseys don’t impress me anymore because they won’t call people out on this.
Let her live her life. Gaslight much
@@V31lCl0ud numbers don’t lie
$600K is a lot of house in Raleigh NC.
That is an average house price in North Idaho where I live. Prices here have skyrocketed.
Not really i own 2 properties in NC i rent out and prices have doubled in last 7 yrs.
I paid 330,000 for one 7 yrs ago now worth 600,000 other paid 200,000 15 yrs ago now worth almost 400,000 now.
Indeed.
That’s a 4 bed, 3.5 bath, 3 car at around 4k square feet on a .33 acre lot with $6k/yr property tax where I live.
Not in Chapel Hill.
"You have a paid for house. You have no bills." 😂 I guess there is no property tax, maintenance, or repairs on houses in NC.
or utilities, internet, insurance, HOA fees (god forbid), lol
Yah, another 80,000 or so ought to take care of ir
@@darex0827
I have a paid off home since 2008.
My utilities,insurance,HOA,and taxes equal to $900/mo.. I even had to cut my retirement income 50% to $45kmo. because it was more than needed.
Pretty good for an upper middle class area and the main benefit of not having a mortgage.
Can’t complain.
My neighbors are paying over twice that or more just for the mortgage alone.
Which is a fraction of the mortgage.
If the mortgage would be $2000+ a month, all here remaining housing related expenses are probably under $500. Even if you're on welfare or a very low pension you can afford to pay $500 a month.
She took him to the cleaners. Women like this make my blood boil.
“I’m so sorry you went through this horrible divorce” she didn’t go through a horrible divorce her husband clearly did. Wow
You're judging and don't even know what happened.
@@crashtestdummy1972 Ok… So are you.
Massively stupid take. They both beguile that life together, they should split it
@@Mr_New_Vegas_685 uh...no? Im stating he is judging saying she didnt have a horrible but only her husband did.
@@zacharylowe8083 Yes the assets should be split however lifetime alimony isn’t an asset. It’s a punishment for the man 100% of the time and shouldn’t exist.
Dont marry thats what i got from this call.
Yes if ur broke, please leave women alone.
@@14elvira14 Easy way to not go broke don't marry. You are all h-es on one level or another.
@@14elvira14
That’s not what it’s about.
Avoiding marriage and single mothers is avoiding being broke.
It’s one of the reasons I was semi retired for five years before retiring in my 40s in 2020 debt free and financially independent.
My girlfriend has her own wealth like myself.
Drizzle drizzle….
@@14elvira14and if you’re rich… leave women alone.
@14elvira14 if you rich you definitely better leave em alone 😂
Granny is laughing her butt off after getting all that money 💰 plus alimony. Poor guy. I wonder how he is supporting his younger new wife. 😂
Clearly they owned businesses together
Why are you assuming that he's the poor one? You have a very clear bias. What if her whole life she cooked, cleaned, looked after the kids, listened to his boring stories, helped him with the business - and he was abusive and dismissive?
@@anyagee9467this is the Ramsey comment section. Women are second class citizens here and need to get in line-but only after cooking a hot meal for their husband.
@@anyagee9467 Always an abuse sob story. Get some Kleenex.
Never get married fellas. This is insane.
Ur broke. Shut up.
That’s not good advice.Marriage is the biggest thing that gives the majority of people happiness in life.I would say the problem is that divorcing has become easier over the years,the basis of marriage has changed over time from something for practical to love obviously the ladder is not as stable as the first one I think that is one of the reasons why people think marriage isn’t worth it.
@@LungaMasilela I'll bet that you are a woman. It's easy to say that it is terrible advice when you are the one who will get cash prizes out of the divorce. Marriage is a complete scam for men. It is all responsibilities and no benefits.
They should’ve NEVER encouraged a single, 60yo woman to buy a $600k house in North Carolina. That’s a lot of house for a single person to take care of!
Never understood it.
I doubt it’s under 2000 sqft if it’s new at that price.
My thoughts exactly. Some builder hustling. She should listen to her financial advisor.
I would assume there is children and grandchildren and that there is a need for space.
@@Art-is-craft
You don’t need a bed/bath per child,fancy six seat island kitchen,three car garage,etc. for visiting grandkids.
Just a regular house/condo and bunk beds will do.
@@blackworldtraveler3711
The children and grandchildren kids could be there a lot. I have seen grand parents with large house full up regularly.
Sure feel for the ex husband. Lifetime alimony makes zero sense.
It is based on their marital assets. He does not get to marry, work, earn, leave her in the home and then walk away. Life is life they have joint marital assets.
It would scare me if it was my mom looking to do this. Alimony ends if the payer passes away and it seems like that is what she lives on. The other issue is that build is not going to come in on budget, she should add a third more.
Probably not sounds like this guy was very well off if she is getting $6k/month. He has a $1M-$1.5M annuity set up that pays her out he is not writing a check every month, it keeps paying when he dies then if she dies it becomes his or his heirs
It depends on the terms of the alimony. Often upon death either the estate or the life insurance will be used to pay alimony
@@TheDjcarter1966even if you’re wrong if her honeypot dries up she can sell.
The math makes sense. 60 with a new house and $1M and equivalent income of $100k.
Next caller will be her husband saying he can't afford to retire because he lost $1.6mil in the divorce and owes $60k per year in alimony. 🤦
😂
lol
Demon woman moves out of he husband’s house and uses his money to live in another house from him. I wonder when the demonic possession took over or if she has hid it for there entire 29 year marriage. Wild.
Bruh you making up alot of assumptions. This man could of been abusive for all we know. When you get married it becomes WE. Thats what happens when you get married it will end in divorce 50% chance for the first marriage and 100% chance of death. She suppose to be homeless now that she is divorced? lol.
Her advisor wants to keep her money so he can get her a substandard return that any kid with a Schwab app can get so he can bill her the broker fee.
Curious how these two hosts feel about what this woman got. I feel bad for the husband. She got $1.6mil AND alimony. I suppose the only scenario where Im happy for her, is if he was abusive or cheated on her...you know, did harm to ruin the marriage.
Exactly, you have no idea and you're making assumptions. Also, if she's getting this much probably he has more than enough.
@@anyagee9467 more than enough is certainly a personal opinion. I can tell by your comment you believe women are entitled to a mans wealth, no matter the situation. If he did harm...good she got 7 figures+ more...if he didnt harm her...he earned that money and it belongs to him, end of story. She could have ruined the marriage too dont forget, so lets not just give the woman all the avenues for being able to take that money from him. It doesnt matter what YOU think wealthy is.
What if the husband is worth $30 million and she supported him and helped with the build during the $30 million grind?
@@FaithandPurpose828 Exactly. The people on here don't get that. He could be worth millions. Millions of the "family" money and she is getting a pittance.
I'm guessing this dude was loaded. And $60k a year was peanuts to him.
'On your own financially' while getting 62k tax free from your ex husband is CRAZY
You guys are in the comments making judgments but have NO idea what caused the divorce OR how much money the ex-husband was making.
I’m inclined to believe he has waaaaaay more money somewhere else. She has a standard of lifestyle she’s used to living and she wants to continue living that. I don’t believe he’s broke at all!
Right, broke men in here complaining about somewhere they'll never be 😂
"The borrower is slave to the lender". Apparently the man is slave to the woman in a divorce. FOREVER, WITH NO RECOURSE. This guy has to keep grinding until he dies because if he doesn't he gets to go to JAIL. And people wonder why marriage rates are down to 6/1000 in the West?
I cant believe woman do this to their husbands. I vow to stay by my husbands side, we've both started from the ground and worked our way up and appreciate eachother even more. Marriage should be sacred. And loyalty should be the benefit.
Yeah the man is truly a slave, and the woman gets queen/goddess status without even trying.
Marriage shouldnt be about money period. It takes catastrophic medical situations to bond couples. Nothing matters more than each other. It supports the sanctity of marriage.
@@miriamm2978 it used to, but now the woman (most) basically sees it as a way to strap the man down financially to take care of her.
@MobileGamingChronicles most men are so broke they can't even afford to get married. They're in survival mode and demanding 50/50 financial input while not contributing any labor inside the household.
Unmarried women are the happiest demographic for a reason. Marriage cuts a woman's lifespan down due to stress 😂
She is talking about doing a custom build. She needs advice on how to pay for the house during the build. NEVER pay all up front. She needs a much better fee only advisor. Also, I will bet she has not considered properly the maintenance of a waterfront home.. She needs a good plan for that. too.
Very good advice
If you've never been involved with building a house don't. Contractors will run circles around you.
It’s stories like this which is why guys are terrified of marriage. The ex is carving out a pound of flesh a month for her to have a new custom lakeside house for absolutely free. That much alimony when the 1.6 is most definitely from the divorce is just robbery.
I know a guy who would give all his money away and be homeless before he would pay any woman a dime
Good for him. Makes a lot more sense than the guys that choose the permanent end to their life to stop paying.
$25k/yr as a nanny...and for this massive income you're living in a place where a house costs over half a million $? She probably will pay more in real estate taxes alone!
Yeah, it sucks to be her 👍
Full time raising children in a family is 50% of the marital assets.
I totally agree I am 66 y/o and I am debt free, I own my home outright, I owe no one, sometimes I don't realize how good that feels until today's videos. I also have another house I own outright which I paid for using money I earned and saved. My retirement is over a $100000 yeah I could have invested the money but that freedom of owning your home is real, thanks to God he paid for it all.
Stop whining about the divorce and how she got tons of money from it.
She was married for 25 freaking years, that has to count for something. And she kept a vacation house, maybe they had more than one of those plus their main place, the man is rolling in money, I'm sure he's very rich for the court to have ordered him to pay 60k a year.
It's fine.
I feel more sorry for her to be honest, she's kinda lost, she doesn't know what to do and is probably going to get fleeced by whatever contractors she finds to build her what she thinks is going to bring her a bit of her old life back, in this giant house she wants to build.
She only should get what she worked for during marriage (they should take away combined income taxes). She leaves with only child support. Females are more than capable of working like males do. She is an adult for crying out loud. This is unethical no matter how ones looks at it.
If you want a way for a gal to pick herself up after a divorce, they need to create a government program where she takes out a loan with the government, uses it, and then pays it back the rest of her life. That is what the feminists should have fought for. She earned NONE of it.
Thank you, broke men are crying about the divorce and a position they'll never be in.
The advisor is right that someone shouldn’t be cleaning out 37% of their retirement to buy a home in cash. The good answer is that she should try to go a little cheaper on the home and buy it in cash. 1 million is a tiny bit tight for retirement
Their retirement? She would still have a million cash and 5k/mo tax free alimony
Lets see the call when the husband calls in.. Drive Ubber and deliver pizzas old man
learn to code
That financial advisor probably makes money as a percentage of assets under management. If she spends a third of her money buying a house, there goes a third of the money he makes off of her. They’re just watching out for their own pockets…
Stay single, gentlemen. If ever you feel like you should get married, just buy a house for someone that you hate and pay them $62k for the rest of your life. It's exactly the same feeling.
Good Point on paying off a mortgage I did it last year instead of investing and I have a huge sense of relief to be completely 100% debt free. Anna In Ohio
She's a thief
Husband agreed to it when they got married. He makes too much money not to know how marriage/divorce works.
**ex-wife of 20+ years
He does not get to have a marriage for 20 years and then walks out leaving her nothing.
I would have asked about her retirement plans. And a 600k build is probably more like a 800k build or more.
So i completely disagree with you here. I wouldn't pay cash for that house. Not yet anyway. I would throw that 1.6 into investments. If she retires at 67. Even if she didn't add to it. She would have approaching 3 million. At which point she would no longer need alimony. Nor social security. These things would be extra. If you pulled out enough in a few years to have a great down payment. Put the rest in a loan. Something like that. Your not going to have it for long. So it doesn't matter. Two good return years and you can pull out 400k without hurting yourself.
I meannif you must have the house now, then yes Rachel is right. However. Building wealth gets crazy around that 1.6 million mark i would be very cautious about spending too much of it. Yes. Fix a few small things. But don't pul out 800k.
First, builds NEVER come in on the estimated price. She may as well estimate 750k minimum. And that’s a pretty big house for Raleigh. Sounds like she’s trying to buy something she had when she was married. That and houses are not free. Property taxes, lawn care, heat, electricity, etc. maybe his issue is with the AMOUNT of house not necessarily the cash build. And it’s lake front?
We had a strict cash only budget and got a smaller house but we have never ever regretted paying cash 💰 and having a care free lifestyle.
5k a.month alimony, fuck the court
The husband must have been caught putting his fingers in a different cookie jar. 🤔
So, getting a divorce can sometimes be like winning the lottery! That doesn't happen where I come from
Another good man cut in half by the courts and now she doesnt even know how to use the money
Someone who didn’t toil to accumulate it will of course be clueless on what to do with it.
And you know he’s a good man how?!?
Married means THEIR money. Cry about it.
Her advisor wants her to invest, because he will make money
I use to work in investment banking for Morgan Stanley and those FA's are soulless.
This was all they lived for 👉 🤑
She does not need 600k house a 200k makes more sense. Keep your savings
Nobody’s building a house for $200,000 bro
@@patty109109 i meant buy a house for 200k a built one already
Fire the financial advisor. SERIOUSLY 🤣😂
Probably wants to make bigger commision on those extra 600k.. what a numbnuts
600k on a house she needs to think about taxes and insurance that also goes up almost every year.
It will be closer to $750,000 when done.
Rates are decent for certificates of deposit right now. I know someone who has $1mil in a CD at 4.8% APY and earns about $4k a month in interest.
thats a redickulous price for a house at her age
At ANY age!
$600K is a reasonable price for a home these days. Plus she has the net worth and is able to pay cash for it. She has the freedom to do what she wants.
Let her live her life. Gaslight much.
@@djsausagebiscuits Reasonable maybe in San Fran or New York City, but not in the regular parts of the country! And sure, it's her $$ to use as she pleases, even if it is wasteful!
Seems high, but it depends on her situation, what the house she wants has and where the house is located. Maybe she is looking for something with 4 or 5 bedrooms for children and grandchildren to sleep when visiting plus a pool.
"Don't open-up-wide unless it's for your dentist"...my quote. Just let your investor know how much money you are willing to allow him/her to invest of your money. An investor doesn't get to know everything about me & my finances. Maybe have two or three investors with different companies and compare your bottom line each year. You may end up getting rid of one.
Hope the 25 years of happy endings was worth 1.6 million 😂😂😂😂
Rachel: Are you working?
Debbie: Oh gosh no.
Stunning and brave.
Bwhahahahaha! That cracked me up!
I was thinking the same thing. At her age it’s time to downsize part of her decision is ego and hurt after the divorce. Stuff won’t fill the void left by the ex.
That could be a cheap house depending on what state she lives in
Absolutely horrible financial situation she’s got on her hands. Glad we’re prioritizing her call over people on the verge of bankruptcy.
This is a reminder. Any man who gets married should ensure that their spouse has the education, training, experience, support and encouragement to maintain their independent earning capacity on an ongoing basis. If your spouse’s earning capacity wanes during the marriage, you will be required to pick up that slack upon divorce.
Her financial advisor won't be able to charge his 1% fee on that $630k every year, and that's the real reason he doesn't want her to pay cash for her house.
At 60, she should buy a less expensive house.
Are you the caller???
She sounded like an old hag no offense 🤔
62k a year? that man is being robbed
They didn't seem to factor in the upkeep & other recurring expenses on that $630k home.
That dude got fleeced. Holy moly😦
I feel so bad for this lady. She only have 1.6 millions.
Same.. why didn't she get more money?
The caller has $1.6 million. She mentioned taking 37% to build a house on land she already has. That would be $592,000. I didn't catch where she lives, but houses don't cost that much in most places, or don't have to if your needs are modest.
Rachel goes on about having a million left, so I'll add what I had to tell my grandson when he marveled about wealth, "Ben, a million dollars isn't really a lot of money."
Paying your house off does not mean free. You will still pay taxes on that house until you die. Sure the payment might be a little less, but the taxes will always go up.
It’s more like “freedom” and “free” from a major monthly expense. Enough to start taking 2-4 months off work each year without pay on top of six weeks paid vacation after paying it off in 2008. More than a little less since my mortgage was $1500/mo.
Also boosted my 401k contributions to $45k/yr.
Not going to sweat over $1663 a “year” property tax in an upper middle class zip code.
It was only less than two days take home pay. Mine has gone down from $1750 the past 15 years because of homestead.
We have double homestead exemption and senior freeze in my state.
Now that I retired before 50 as planned the dividends from my tax free municipal bonds pay the property tax each year automatically.
@@blackworldtraveler3711 where I live my property tax on a 200k home is $7,000 a year
$1.6 million in the bank and $62,000 (tax-free) in alimony a year for life? Holy divorce jackpot, Batman! Lifetime alimony should be banned. Her husband must have desperately wanted the divorce.
60k a year alimony!
If her ex dies does the money not stop?
trust me, she will end up spend at least 1M for the new building and pay high tax afterwards
Yeah. You're right. I figured conservatively 750 to 800 thousands but I was being optimistic.
I build, sell and rent out houses for a living. She is going to pay’s 25% or more over budget than she expects to pay, especially if this is her first build. There are ALWAYS cost overruns and she had better plan for that or scale down her building plan. Labor costs are absolutely insane now and there is a huge shortage of people in the trades that you need to hire in order to build a house. A plumber now earns more than the average lawyer.
Advisor: You shouldn't spend 37% of your income to put yourself in a position to not have me charge you hours. 😂
Lifetime alimony is ridiculous and shouldn’t exist. Assets should be split. In certain situations alimony is completely understandable but it should be capped at 10 years max.
He's probably extremely rich and they were married 20+ years.
@@14elvira14How do you rationalize the woman to receive the benefits of the marriage by legal force and the man not receiving any continued benefits of the marriage?
"Are you employed?"
He is.
"No fault divorce" should be ended. If he cheats on her, she should divorce and take everything from him. If she cheats on him, he should divorce and take everything. Other than that, judges need to stop granting divorce to random people who "fall out of love." You made a covenant, honor it.
I'm not saying she was wrong in this call or that she didn't deserve the alimony. But people are scared to marry now and it's because of no fault divorce where a woman can take a man to the cleaners for any reason she chooses to and will most likely win.
@@nugsin4 I mean, it won't hurt. Obviously there are other major problems that discourage people from getting married, such as men being non starters and, more often, women having no traditional values and treating men like crap. But yeah, no fault divorce would force a lot of married couples to work through their problems rather than give everything to the woman with a sob story.
@@nugsin4who cares l. If someone doesn’t want to get married because they want the option to cheat or be abusive then oh well. We don’t need to cave to immorality for the sake of people getting married then divorced
@@nugsin4 so morality is only a theory unless in Iran. Ok?
@@nugsin4 I think that if men and women knew that had to stick it out and couldn't walk off for no reason, both parties would make better decisions about whether or not they should get married.
Would that result in MORE marriages? Hard to say. I think men would be more likely to marry, yes. I think some of the nastier women would be less likely to marry knowing they would have to actually try.
So the answer to your questions is maybe, but I don't know for sure.
@@nugsin4 All in all, it would be a GOOD thing for marriage, regardless of whether or not it led to more marriages as a whole.
My wife passed away last year and this woman has convinced me to NEVER remarry.
I wonder what percentage of people saved and bought their first house with cash - without someone else's money.
Paying off my 30yr mortgage in nine years 16 years ago was the best i could do.
I was 27 when I bought and didn't want to touch my investments I have been building since 15. Knew my career would be from $60k/yr to $160k/yr. within four years.
Using 30% of your net worth at the age of 60? That is risky to me.
Are there property taxes?
What if her ex dies? does she stop receiving payment?
Id buy a 400k house, invest that 1.2 million and at a 6% return rate have 2.4 million in 10 years. Vs a 6% return on 1 million and have 1.79 million in that 10 year period. Plus the smaller, possibly lower maintenance home.
30% of savings into a house at 60 would give me way too much anxiety.
A house is an appreciating asset. All she needs is emergency fund.. she has $1 million emergency fund lol
that right there folks is why I won't get married again! and don't forget there are 2 sides to every story
You don't think she's an innocent old lady ?
Why is everyone hating, she helped him build the wealth. He sure didn't do it on his own, they split up the money got split too!!
Why does a poor guy nearing 60 years old have to pay alimony to a millionaire?
“I’m so sorry you went through this divorce” she got paid out man
Fools and their money are soon parted.
Women should NOT be getting alimony! $60k+ tax free?! wtf? Tax that shit!
He is taxed and paying from his after taxed wages.
Why does she have a financial advisor if she questions them
She stole a mans lifetime of hard work and sacrifice, and shes going to lose it all. Im here for it.
You don't know how much the husband makes or has. How do you know he got fleeced in this deal? He clearly makes a ton to be able to give her that much.
@Maestroxxx1 Sure I know. She gets 60k tax free every freaking year for existing. With that you can deduce and estimate how much the man made
She didn't steal anything. Sorry you're greedy and stupid. She was his WIFE for 20+ years.
I downsized to a home in a Del Webb community for active adults 55 and older. The community is like a 5 star resort. Everything was included even the window treatments. I paid cash for the property. I brought only the furniture that I wanted. I live minimalist because it is freeing to get rid of "stuff".
i don’t understand the point of this call. did this lady really call thinking the ramsey people would say yeah good idea go ahead and finance your house at 60 years old?
If she knows the Ramsey GP all she was seeking was validation that her FA is more concerned about their needs
Alimony shouldn’t exist
Some people are not smart at all…. She could get a new mobile home and live life fabulously with no bills or worry which could possibly could extend her life…let’s face it she doesn’t have much longer
This caller makes me sick to listen too.