Sure it is. Let’s say you put in 15% of 40k at age 41. Just looking at that year alone, you’d put in 6k. At age 48 it’ll be worth $12k. I’m using 10% instead of Dave’s customary 12%. At age 55, it’s worth $24k. At age 62, it’s worth 48k. At age 69, 2 years past full retirement age for me, it’s worth $96k. Do that every year. Hopefully you can put in more than 15% eventually.
I only have 2 more months and my house is paid off with no other debt. But it'll take me probably 6-9 more months to get my emergency fund back to 6 months of expenses. This summer my 5 month emergency fund got wiped out in the span of 3 weeks. I had to replace 2 AC Units, 1 furnace, and 2 hot water heaters at my house because the old ones crapped out on me all at the same time. 401k has not performed well for me in the past 20 years. It tanked bad in 2008 and didn't recover like I hoped, then it crashed again in 2020 and basically just flattened out after that not really gaining or losing each year.
I find it funny that Rachel talks about how she has to cut back on her expenses now to reach a good retirement at 60 .. and she would be right if she were the average American. However, her Dad has a net worth of over $200 million which she will split with her siblings when Dave moves on to the next life (which I hope isn't anytime soon of course) ... She'll be fine in retirement. But the advice here is sound. I just find it funny. Maybe I have weird sense of humor.
He's worth way more than $200 million. Closer to a billion! All four real estate and not mutual funds like he tells everybody else to do and then the end up poor because the stock market tanks every couple of years!
You guys never talk about Roth 401ks. Are those not common? My employer offers this and it seems to be the ultimate version of what you guys talk about, not to mention it has a much higher yearly contribution limit. I can get my entire 15% plus the 6% employer match and still not max it out...
Now I lovvve Rachel but we all know you’ll be MORE THAN GOOD in retirement. She’s so down to earth though to the point you wouldn’t think her father is as rich as he is
She’s playing you and you’re falling hook, line, and sinker 😂 Her father is worth hundreds of millions of dollars and has a trust fund set up for her. That girl will never have to worry about money and hasn’t worked an honest day’s labor in her entire life. I bet she hasn’t even washed a dish too. She is privileged, you’re not and is disrespectful to even act as if she’s the slightest bit relatable to the average person.
@15KHPCLUB Just because her dad is worth millions, doesn't mean that she is. How horrible of a thing to say! I'm sure she washes dishes at home. She's a mother of three. She also has a TH-cam channel, is a Ramsey Personality, and has wrote several books. She works hard every day. She has also been working since she was a teen and not for her dad. You would know that if you watched the show.
😊And its clear from the way Dave chats that he has made sure his kids know how to work hard and that they aren't living off handouts from Dad. He has talked proudly about their careers.
Where is your top from? Can you please link your outfits? Thank you! Have you read Rich Dad Poor Dad? My husbands belief is that you use money to buy assets not just always paying off money you owe.
1 done 2 done 3 done 4 just retired 5 no kids 6 done 7 retired, give time ramsey corp is missing a big segment by not working with the broke and retired crowd.
Don't address low income in high cost areas (Silicon Valley is for instance) and never having a partner with whom to share expenses. Rachel has no clue coming from a wealthy family, being married, and working in the family business.
I don't plan on ever retiring with constant inflation and lack of pay raises how can anyone save to retire. Worst case scenario I might just commit suicide around 70 when I ain't physically capable of doing stuff I like to do to get by and my parents aren't around anymore
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One thing I wish they would talk more about is age. If you get started in your 40s, 15% for retirement isn't going to cut it.
Yes,but it's better than nothing.. especially if you've done the other steps.
Sure it is. Let’s say you put in 15% of 40k at age 41. Just looking at that year alone, you’d put in 6k. At age 48 it’ll be worth $12k. I’m using 10% instead of Dave’s customary 12%. At age 55, it’s worth $24k. At age 62, it’s worth 48k. At age 69, 2 years past full retirement age for me, it’s worth $96k. Do that every year. Hopefully you can put in more than 15% eventually.
@@dinahcharles6502 Yes, you're right, but they never discuss catch-up contribution stuff. Everything is not a one-size-fits-all.
@@greggsadler4387 , you'd still need way more. No one can retire on 96k. I'm thankful I started young, but I often still feel like I'm falling short.
15% is way too low at any age, unless you have very low income
Americans. Not American's. We're plural, not possessed! 😊
recovering english major?
I want to retire in 11 years, hopefully. I am working really hard to pay off house and to also invest. If all goes accordingly, i will retire at 62.
I only have 2 more months and my house is paid off with no other debt. But it'll take me probably 6-9 more months to get my emergency fund back to 6 months of expenses. This summer my 5 month emergency fund got wiped out in the span of 3 weeks. I had to replace 2 AC Units, 1 furnace, and 2 hot water heaters at my house because the old ones crapped out on me all at the same time. 401k has not performed well for me in the past 20 years. It tanked bad in 2008 and didn't recover like I hoped, then it crashed again in 2020 and basically just flattened out after that not really gaining or losing each year.
Well that's sad. Really sad. People really don't have any idea how to manage money at all.
Good for you Rachel 😂 I want to be right there with you live in that boujee in myb60s life 😂
I think that Rachel should have a like to know it or some similar platform so that way we could buy what Rachel is wearing. She has such great style.
Yes, this please! I'm always taking snapshots of her outfits trying to figure out where stuff is from! 🤣
Yeah, I thought about opening my own farm, but its a long and complicated process. Im just investing in Cannafarm ltd farms and earning every day
Best company to open Roth IRA with?
I find it funny that Rachel talks about how she has to cut back on her expenses now to reach a good retirement at 60 .. and she would be right if she were the average American. However, her Dad has a net worth of over $200 million which she will split with her siblings when Dave moves on to the next life (which I hope isn't anytime soon of course) ... She'll be fine in retirement. But the advice here is sound. I just find it funny. Maybe I have weird sense of humor.
She’s out of touch Reality
100%. It’s hard to relate with her to be honest. It sounds cranky to say she has it “easy” but facts are facts!
He's worth way more than $200 million. Closer to a billion! All four real estate and not mutual funds like he tells everybody else to do and then the end up poor because the stock market tanks every couple of years!
You guys never talk about Roth 401ks. Are those not common? My employer offers this and it seems to be the ultimate version of what you guys talk about, not to mention it has a much higher yearly contribution limit. I can get my entire 15% plus the 6% employer match and still not max it out...
They always talk about Roth 401k.. do you not watch?
Baby Step 1…. Baby Step 1…
Roth is what the recommend most often.
Can you explain how to do a backdoor Roth IRA?
Why do you always recommend mutual funds when your dad has all of his wealth in real estate?
Where is a good place to open a Roth IRA??? Credit union? Other???
Fidelity
Now I lovvve Rachel but we all know you’ll be MORE THAN GOOD in retirement. She’s so down to earth though to the point you wouldn’t think her father is as rich as he is
She’s playing you and you’re falling hook, line, and sinker 😂
Her father is worth hundreds of millions of dollars and has a trust fund set up for her.
That girl will never have to worry about money and hasn’t worked an honest day’s labor in her entire life.
I bet she hasn’t even washed a dish too.
She is privileged, you’re not and is disrespectful to even act as if she’s the slightest bit relatable to the average person.
@15KHPCLUB Just because her dad is worth millions, doesn't mean that she is. How horrible of a thing to say! I'm sure she washes dishes at home. She's a mother of three. She also has a TH-cam channel, is a Ramsey Personality, and has wrote several books. She works hard every day. She has also been working since she was a teen and not for her dad. You would know that if you watched the show.
😊And its clear from the way Dave chats that he has made sure his kids know how to work hard and that they aren't living off handouts from Dad. He has talked proudly about their careers.
How do we pay off debts with only a part time income and rising expenses?
Second jobs and side hustles. Working 6 days a week until you're out of the hole
Get full time income. I'm sure that would be their answer.
You need to work more
I am try soon hard but is not easy to done it.
You all right there bud?
Thanks you have a good day.
@@polarablues64 I guess not😂
It seems like English might not be your first language? Keep working on it- finances and English 😀
Where is your top from? Can you please link your outfits? Thank you!
Have you read Rich Dad Poor Dad? My husbands belief is that you use money to buy assets not just always paying off money you owe.
7:48 Does this Cost-Sharing keep you out of trouble with the OBAMA-care(less) tax??
1 done
2 done
3 done
4 just retired
5 no kids
6 done
7 retired, give time
ramsey corp is missing a big segment by not working with
the broke and retired crowd.
C'mon, man ! They have a product to sell. It won't sell without a perception of need.
Don't address low income in high cost areas (Silicon Valley is for instance) and never having a partner with whom to share expenses. Rachel has no clue coming from a wealthy family, being married, and working in the family business.
skip investing
ladder cd's and never look at the market again
you can sleep like a baby.
at 65, no debt
no investing
no kids
we give our time, not our money
cash for house, so no mortgage interest
Comment
I don't plan on ever retiring with constant inflation and lack of pay raises how can anyone save to retire. Worst case scenario I might just commit suicide around 70 when I ain't physically capable of doing stuff I like to do to get by and my parents aren't around anymore
Nope😂😂😂🎉
Future Rachel will be a centi millionaire when big Dave eats too many cheeseburgers. 😂
The young princess was told the peasants have no bread and she
replied .”Let them eat cake”.
所有的人没有意打算逃跑负债,可报出真实性的收入与解决问题。但不要欺诈手段,发现不正的问题,全家族一定死刑。