When I was renting I was alway looking for cheaper rent. I was renting when I was 56. My landlord said she was gonna DOUBLE my rent. I Took a big chance and moved to Tx. I knew no one I got a job the first day. Paid off my debt bought a home cash. Now I’m doing great.
Glad you had the cash to buy the house. Nothing like having housing expenses off your plate. I'm 69, been retired for over 25 years because I invested young. So nice to be free to focus on the things I enjoy rather than on paying bills to stay alive. I knocked myself out when I was young and had the stamina so I could kick back in my later years, I'm so glad I did.
@@dalton6108 I was actually paying more when I first arrived In Tx than CA. My pension $2400. Take home followed me to TX. Now I get pension and SS check. $4100. All together. No debt at all. Life is good. I go to CA about 3-4x a year to visit family.
So he basically told her to pay off the debt ASAP and save to buy a house in 18 mos? She has zero emergency fund and still has to pay off $7K. How is she going to pay $7K, save 3-6 mos of expenses, then save for a 20% down payment on a house in 18 mos??
I think he is distracted by all these people he has sitting with him these days. He used to pay more attention and use a calculator. He is making more flippant plans for people. I guess he is burned out.
She lives in Phoenix, so do I. My rent went up from $1140 to $ 1800 a month. Im 64 and lost my home and 23 year old business to the pandemic, all while caring for my Mom with end stage Alzheimers, and going through the most insane, devasating, unimaginable breakup of over 20 years .Try getting a job at my age with no references, throw in health problems from all that devastation. I'm now living with my 67 year old sister who also has no savings .Both of us were single Moms. A financial plan sounds great on paper, until real life takes over. Heard the saying, make plans God laughs.
@@bonnievandergriff8272 I lost interest in Dave to be honest. Used to be obsessed with this channel. Guy has lost the ability to be in others shoes. He just talks to talk. I really prefer the younger voices to daves. Even the math on here doesn't make sense. 60k isn't much
60K taxed is like 3500 a month. I like Dave, but he never takes into account taxes and they are much higher than he understands. My base pay is 92K and my paycheck is 2400 every two weeks. I am a RN and I get OT unlimited, but if I work just straight 80 that is what I get.
Dude I like in CALIFORNIA and I make EXACTLY $92k/yr. gross, but a state pension w/full medical & dental ins. free tho. My 'take home' pay is $6k/mo. Seems you're including 'medical & retirement' as 'taxes'. I have ZERO write offs as well.
He doesn’t need to. Break down the rent and expenses and see what’s all there. 3500 a month pay. Live in less than 3500 a month. And find more work/money. Too many ppl on here saying u can’t make it on 50/60/100. Well ok then just accept that. LolOne is a growth mentality and one is a fixed.
I mean, were about 700 off but my take home is about 4300, with health, dental, and vision and I believe 2.5% for 401k. Probably double check where the rest of that money is going lol.
Many times people are "afraid" to change jobs or make a career change even if it pays more because of the fear of losing the new job shortly after getting hired, or they end up shortly not liking the new job for whatever reason like having a boss who is mean and micro-manages, or the other coworker are not happy nor friendly nor supportive in any way...or even that the new company is struggling financially and could shut down soon, these are all real fears that keep people from changing jobs.
Stop the 401k?! Lol. That’s a 100% return guaranteed if matched. There’s no one, no matter how little money they make, that should not be contributing up to the employer max
@@tdgdbs1 look long term 20 years from now when debt is paid off. Why pay off $300/month in debt when that it worth $600/month at time, much more after invested for years
I’ve had nightmares tennats before now I have an amazing tenants I can easily go up 3-400 bucks bc of local rent rises. I’m going up 35 bucks just to help increase in utilities
@@superblump87 it’s not conspiracy when you have a reputable organization with multiple high profile stakeholders invested such as Amazon, apple, Microsoft, pfeizer, and black rock, etc.. saying these words
Get a new job? She's 57 or something like that. It's not so easy at that age, most places discriminate believe it or not, they just don't admit it. They just say "you're not a good fit". He needed to ask more questions.
When this happened to me I had to refinance my car loan to make it. But paid extra after I was in a better situation. Car will be paid off in august. Never financing a car again!
@@dachicagoan8185 I mean what’s her current rent. Is it going from $1000 to $1300 or is it going from $1500 to $1800? We didn’t find out what percentage of her income was going to housing.
Rents are out of control. In Orlando Fla a one bedroom apartment goes for about 2000 per month. She could live out of a small RV for awhile. That gives her more money to pay off debt.
:/ so many properties in my little town in tx literally doubled or even tripled in property assessment (duplexes especially) meaning that much more taxes, and thus rent. Really killing the ability for anyone to rent affordably for lower income or housing.
I will never agree with stopping a free company match into a 401k. Stop everything else, cut back, beans and rice etc.. but always match your companies 401k %
I disagree with Dave in having the lady save aggressively for years, I understand we all want to save up for Retirement and have the retirement lifestyle of your dreams, but tomorrow is not guaranteed folks, sorry to burst your bubble. I remember this lady that used to work in the office all she did was talk about saving for retirement and how much she was putting away each check and how she couldn't wait for the day she retired, guess what happened? She ended up having a health issue lost so much weight she ended up being forced to retire due to her medical condition and she passed away. That's the day I learned I'm not going to burn myself out trying to save as much as possible, I'm living my life day by day and enjoy every bit of it. Tomorrow is NOT guaranteed.
Reminds me of my Dad's good friend who saved his entire life retired at 65 after 35 years of never missing a day of work, bought a new corvette and then dropped dead of a heart attack one month later.
I think a balance is needed. Everyone should be saving at least 10% for retirement at a minimum. You may not be able to work later in your life like you anticipate.
One thing is guaranteed, being old and broke is no fun. And at that point, there is not much you can do about it. Of course you can still have fun. Just consider that being broke, hung over , and talking to bill collectors is no way to live.
Your flaw here, is that you assume people don't take care of their health WHILE saving for retirement. The chance that I'm going to die unexpectedly is very slim and if I do my wife and child get my IRA and 401k. You are basing your future off one anecdotal example. Don't don't do that to yourself you will be broke and old trying to live on social security which probly won't be there.
Starting a business was the best thing i could have done at 19. Don’t have to work a 9-5 and get a 20% of my investments monthly. I try to tell people young as my age, but their mindset is “live life to the fullest “ and “ we are young who cares”. Sad
I just had to go up on my rent by $150 my tenant told me thanks she is still paying $500 less than her daughter that live in the same building. She is a great tenet and a didn’t want to up by that much the place is paid off. I would feel so guilty if I went up by the $500 like her daughter’s landlord. My tenets daughter went searching for a place that was cheaper. She couldn’t find anything comparable. She is stuck. My unit is a corner unit with lake front view and is gated. It’s very hard out there for everyone.
He never even asked what total rent was, or about other expenses she has. Pay yourself first, if most people waited to be debt free they would have nothing in retirement.
He did not even let her finish... he did not even ask how much she pays on rent, he did not ask how much she has on 401k. Dave needs to let the callers finish their questions
NIckel and diming into 401k is silly. Get out debt (other than a house), lower monthly expenses THEN contribute a larger sum for it to be worth it. "Side hustling" or second job at 57yo? Learn from other peoples mistakes and make hay while sun shines while you're still young enough to do it.
Every single time people called Dave in the past and asked for advice, he told them to sell their rental !!!! Just think if they would have ignored his advice! these people would have been in awesome position. Rent is up! and home prices are up! Dave often gives bad advice.
@@jimroscovius Or, they continued to collect rent because lots of people kept paying. DR likes to play up the fear aspect of almost everything, but the reality is that smart financial strategies usually work out
Thé woman called in because her rent is going up by $300. Did you address the question at all? No. You basically went around the question and told a 60 something year old that’s making decent money to go make more and buy a house in this climate. Made no logical sense
Her problem is NOT her rent. Her problem is she's in her 50s with nothing but debt to her name. Her problem is she failed to prepare for growing older for the past 30 years. She should have asked these questions decades ago and she'd not be paying rent today, but have a paid off house by now with a nice nest egg to rest in. They gave her a clear plan, increase her income by 25%, get a second job, cut savings and investing for now, cut expenses. What you do in your 20s, 30s and 40s will determine how you live in your 50s, 60s, and 70s. I'm 69 now, retired over 25 years ago from my investments I made working as a hairdresser decades ago. This woman didn't bother at all to prepare, now she's in a panic what to do. Remember the story of the Grasshopper and the Ants.
@@alextogo8367 SOME people have that happen, but very few, MANY more just never try. For those that life does 'take a turn' it's easier to get through that turn with a paid off mortgage and a good savings to not have that on their plate to worry about also.
Seems like they get the callers over to the switch board to get them the lesson plan or whatever they call it. This radio convo isn’t supposed to fix all their stuff but a quick little discussion for the sake of the audience.
I have a van conversion for fun, it's interesting to hang with those people that started out living in a van or RV to do just that, continue working and save for a house. Soon they find they don't need much to live on and quit their jobs to travel the country, or cut down to make enough to just 'get by' on. Somehow what focus of the original plan to buy a house dissipates. Not that it's good or bad, but the focus and intention changes. Short term maybe no issue, but I wonder when they get too old to sleep comfortably in a rig if they ever wished they had continued on their path to own a home. I'm old now, I love my van for play but more love my paid off mortgage, full bathroom, 40 gal hot water heater, washer dryer, shower, HVAC. I'm very happy I didn't lose my focus as an adult than to have my focus be an adult child and whittle away my youth on just play.
@@vickieclark5931 no he seems greedy. When I had renters they could miss 10% yearly and I still made plenty. Dave has money flowing from everywhere so he can afford more than most. Some business people can’t have enough.
@@bettysmith4527 imagine being so broken brain you think not price gouging is charity. Slumlords don't consider equity because they plan on driving the home into the ground
What is so cool about this is that while doing this program one could look at your over all health also. Can’t go to a movie but take a nice long walk.
I dunno Dave, So for the time being we don’t plan on increasing rent til they want to move, but not everyone can afford to not raise rent. Had someone tell me they got evicted yesterday because the new year contract was above what they used to pay with a new job that didn’t pay as well. Truly sad what inflation is doing to everyone
@@beerkegaard yes cause Dave thinks 70k to 100k a year is a fortune. It’s literally poverty if your not getting any assistance and paying all your insurance and taxes and such. He’s delusional
It’s just business at the end of the day yes we ppl struggles as renters but the only thing you can do is nut up and shut up and buy a house and do the same
@@angelalaskodi3459 come on now they have to make a living too think for a second they own the first property but are still on a mortgage for the one they living one right now maybe there rent has gone up too maybe higher than yours and they have to offset bc they might not even make full rent with the income from the first property so side hustle or job it is for them usually Second prices have gone up on everything so it’s just affecting the ones renting and house maintenance has skyrockets in materials and mot to mention labor cost as well It’s just a business at the end of the day
My dad worked until he was 84. My mom until she was 75. If you can’t retire, you just don’t! My brother and I are close to 60. Neither one of us plans to retire. That is the reality of the modern world. This inflation is an eye opener. We can prepare better knowing what could happen.
True, I thought I was doing alright profit wise, until I needed assistance with diversification, I reached out to a coach and in less than a year I've made like 7x more than I make on my own.
@@LuisVargas-ih5vm Whoa, I just looked her up and found her official web page. It shows she's got some impressive records and SEC regulated. Can one rely on that?
Feminism destroyed her, she should have stayed married and had her husband's income to depend on. If she didn't marry a high value man, that's her fault.
Move into a more affordable apt.; buy a home; find a roommate; find more income; prioritize your spending aka budget; eat rice and beans; stop eating out; move back home; etc. When life throws you lemons, throw lemons right back at life!
Not a lot you can do about rent increase. The landlord has to raise it because their taxes and maintenance costs went up. When property values rise, property taxes rise by the same % typically, sometimes more due to the sliding scale that might be involved. When wages go up the costs of hiring people to do things goes up. OWNING is self-protection vs rising rent,but not from the rising costs of owning. Generally you have a lower % increase in costs than the renter.
In the 80s I had to move into my van for almost two years because of 20% mortgage rates forcing landlords to increase rents. My first 1bed/1bath apartment rental was $220/mo. in 1986 and today that same apartment is $865/mo. now which is still pretty good being a very nice high end gated apartment complex in upper middle class area. So yes there's not much you can do about rental increases. I just did something about my pay be going to school for a high paying career.
I'm glad for him, pain can be a great motivator to make a change in your life. Rent irritated me to no ends so I bought my first house when I was young. I'm still in that house nearly 50 years later.
First time i ever paid rent was in 1988 it was 222 a month . Its now 2024 and rent is 455 . Im retired in a senoir complex , not bad for 46 years later. I read about rents goung up like that in 1 year
My “early bird special” if lease renewed by 45 days early was $101 more starting 9/1. If I waited until close to due date then it would have gone up by $258. I live by the caller in Chandler AZ
A little disagreement on HSA. He should really find out about medical expenses before saying stop the HSA. For my case I have a fixed expense of 5000 a year that I reach every single year. I mightsad well have that money be tax free.
@@brentkillian I just did a quick google and Ramsey Solutions has an insurance company that sells them! So he does know what they are. But not investing in one or halting 401k contributions is not a good idea.
@@dcg590 yeah, if more people heard of Henry George, we could maybe swap all this income tax nonsense for land value taxes. Then being a landlord wouldn't be so insanely lucrative and people would have more money (the non landlords)
I did that very thing. I took my education and very specific skill set, from a local level to a national corporate level. I responded to only two national level positions and landed a job at one of them in two weeks. It immediately doubled my income and I continued with internal growth to a six figure income with full ride benefits. I think it is a common mistake to limit employment options to a local level or state level. Why not sell what you are good at to the biggest players in the nation?
This woman should have asked these questions 30 years ago and she'd not be in this situation. She's way too old to be paying rent and have nothing to her name but debt. She fiddled away her youth and now calls in panic. At her age she should have a nice nest egg and a paid off house. She got good advise, she's going to have to work a lot now on to catch up but she can do it with their plan.
My landlord loves me. He must do my toilet had a leak and he was like, you need a whole new restroom and shower. But iv rented the same apartment for years and I'm thinking I'm paying this dudes mortgage. I'm a Dave Ramsey newbie so that's gonna change pretty quick
She could probably buy a house now. My husband and I just bought one (we close the first week of August) and we were able to get 100% financing with no money down. We are keeping our current home and we are going to rent it out for extra income. She doesn't NEED to pay off the $7k in debt before buying a home. It would actually be wiser for her to buy a home now if she can get something where the mortgage payment will be cheaper than her current rent.
Then go buy a d@mn house. Your landlord isnt your buddy or brother. People like you were sure ok with those same landlords having to house people FOR FREE that could not be evicted for non-payment.
It's part of the Baby Steps, it's a start, begins the habit of savings, initiates having the feeling of a nest egg for support, as the steps progress she's to have enough to keep her for 3-6 months.
Buy a house? Mortgage rates just went up again, and will continue to do so.. Dave will say save a 20% downpayment. Good luck with that. 30% of take home pay of $60k gross is not much for mortgage, taxes, insurance, utilities and repairs, You can do that on $12-1300 a month? No.
I’m so glad that I bought a home when I did. I haven’t had to worry about rent going up or being evicted since 2011. I hope she follows the steps as they helped me tremendously!!
Sometimes Dave doesn't take enough of a close look. I make $50k a year and my checks every two weeks are 1400. That's after taxes and my families high medical premiums are taken out. I have the right amount of taxes held. We get a small refund for cushion. We are working the baby steps but almost every paycheck have nothing to tackle our small $6k on a car loan. Out of 2800 monthly we pay $700 mortgage $150 for auto insurance $350 car payment $200 for electric $50 for natural gas $70 for water $100 for mine and my wife's phones $700 on groceries $200 on fuel My wife stays home because we can't afford $1200 a month in daycare. I make about the top end for my field and when discussing pay with my employer they inform me that I'm lucky to even have a job. The machine shop I work in used to pay top dollar but due to other shops in the area they have let wages sink. They get people all day to show up for $16 (not good workers, just bodies, different story for different day) and they think those of us making $20 plus are over paid as it is.
I bet you I know what Dave would say. What I am wondering is, where do you live that your power bill, gas bill, and water all are so much. Of course, I am in an apartment where they do not have meters for natural gas, water, just a power bill. Why the high medical premiums, will switching insurance companies fix any of that.
Assuming your phones are paid off. switch to Mint Mobile. I pay $15 a month (pay the whole year $180) for the 4GB plan. If your wife is home all day and has Wi-Fi no need to have a lot of data. My wife has the 10GB plan for $20 a month. $700 sounds like a ton on groceries and could probably be cut down by shopping at Aldi.
@@mightymouse9001 I should have specified. We lump our groceries in with our household supplies and clothing. So it's really like $500 in groceries. And $100 in household supplies like cleaners, laundry soap, toilet paper, paper towels, diapers, baby wipes, etc. Then the other $100 is like clothes and shoes for the kids and ourselves. We shop at Aldi and Walmart. Thanks I will look into mint mobile.
So disappointing to hear Dave be condescending to someone seeking actual advice. Telling people to eat beans and rice and get an uber job can only go so far during high inflation/soaring rents/ layoffs.
First of all show a little sympathy for a $60k income feeling like a $40k income now a days. Then start by asking how much rent is and how much rent is 10,15,20 miles further outside the city. From there suggest ways to save money such as shopping car insurance rates, consolidate debt if its high interest, ask what else is eating up the budget and suggest alternatives. Suggest getting a roommate possibly. Suggest car pooling to work if possible. Ask if she can work full time remote to move further outside the city. True not a ton of things she can do but at least show a little sympathy.
@@abrahamflores2566 yeah I agree trying to see all her options is always best. Sometimes we just don’t know but others can see what we have been missing.
Good advice but age 57 is a barrier doesn't matter the experience they want young people to work with that can be trained the way they want better idea is Yes get a second job and start tucking that money in to savings. Anna In Ohio
$54,540 is her take home after effective tax rate $4500 per month Food - $300 Rent and utilities- $1500 Gas and transport - $400 2100 Miscellaneous bills- 900 Let’s say an even 1500 is left $1500 towards debt is paid off in less than 5 months $3000 per month emergency fund x 3 months = $9000 $1500 x 6months = $9000 We are 14 months in. $1500 per month for a 3% down payment (which is allowed in the plan for a FIRST TIME HOME PURCHASE) $300,000 condo = $9000 down payment Another 6 months All in, 5 months debt paid 6 months emergency fund 6 months down payment 1 year and half of uncomfortable grinding…. And I didn’t even factor a small part time job. THIS IS POSSIBLE WHEN YOURE FOCUSED And get creative do extra work if you’re just outside of these numbers. Is it fun? IT ABSOLUTELY SUUUUUUUUUUUUUUCKS!!!!!!!! But it’s for a season and it’s worth it. And it is possible!!
What do you do about huge HOA increases when you and your husband are too ill to work and are in your 70's and 80s? We're even too ill to move. Severe heart disease, medical bills, and lung disease.
@@jmorris023 We don't have anything a millennial could afford. We have a home in a resort area, and we've decided to slowly start selling stock to afford the HOAs.
Maragret, perhaps you should sell your "resort" home and move into a more affordable smaller condo... I don't feel bad for you when You are saying it's something millennial couldn't even afford and it's.a resort.
What is success? It's not all about money. Sometimes people can't live without all the new inventions and things in our life. Just look at how much a smartphone costs and your streaming subscriptions. Like do you really need streaming??? A good way to overcome inflation is start a side hustle business
How about finding someone who will hire a 56 yr old and pay them 80 k. Where are they at? It's easy to tell people to do something, esp when you're not the one in distress. With ageism still abounding in this country, she's fortunate to still have her job making 60k. She must have other debts that she didn't disclose bc I'm wondering why she's worried about her rent being raised when she only has 7500 in debt making 60k.
There’s nothing ‘ageism’ about it. It’s a fact that fresh-out-of-school job candidates have greater cutting-edge knowledge, especially of technology, greater enthusiasm, less ‘baggage,’ and are willing to work for a fraction of the cost. It’s called the value of new blood and fresh eyes. It’s all about meritocracy, not tenure. 😉
Please DO NOT stop contributing to ur 401k, especially if ur fully vested & ur employer is matching ur contributions. That is free $$! Contributions also give u an immediate tax break! $$ in ur health savings account, used for medical expenses, is tax free! If we enter into stagflation (high inflation + high unemployment) & u lose ur job, you may need ur 401k to survive!
When I was renting
I was alway looking for cheaper rent.
I was renting when I was 56.
My landlord said she was gonna DOUBLE
my rent. I Took a big chance and moved to
Tx. I knew no one I got a job the first day.
Paid off my debt bought a home cash.
Now I’m doing great.
Glad you had the cash to buy the house. Nothing like having housing expenses off your plate. I'm 69, been retired for over 25 years because I invested young. So nice to be free to focus on the things I enjoy rather than on paying bills to stay alive. I knocked myself out when I was young and had the stamina so I could kick back in my later years, I'm so glad I did.
@@eckankar7756 u did way better than me.
But I’m really happy. Planning trips now to
Las Vegas. Key west. Maui. Iceland.
Life is good
Congratulations! You took a chance on yourself and it worked out. How did you find the house and pay for it in cash?
I did the same and rent followed me to my new state, but the pay didn’t follow me 😂
@@dalton6108
I was actually paying more when I first arrived
In Tx than CA. My pension $2400. Take home followed me to TX. Now I get pension and
SS check. $4100. All together. No debt at all.
Life is good. I go to CA about 3-4x a year to visit family.
So he basically told her to pay off the debt ASAP and save to buy a house in 18 mos? She has zero emergency fund and still has to pay off $7K. How is she going to pay $7K, save 3-6 mos of expenses, then save for a 20% down payment on a house in 18 mos??
Math ain't matching 😆
He’s selling to his listeners that’s all he doing, buzz words and things the viewers want to hear
She needs to stop living above her means
She need to buy a 30k trailer
I think he is distracted by all these people he has sitting with him these days. He used to pay more attention and use a calculator. He is making more flippant plans for people. I guess he is burned out.
The old man is losing it.
She lives in Phoenix, so do I. My rent went up from $1140 to $ 1800 a month. Im 64 and lost my home and 23 year old business to the pandemic, all while caring for my Mom with end stage Alzheimers, and going through the most insane, devasating, unimaginable breakup of over 20 years .Try getting a job at my age with no references, throw in health problems from all that devastation. I'm now living with my 67 year old sister who also has no savings .Both of us were single Moms. A financial plan sounds great on paper, until real life takes over. Heard the saying, make plans God laughs.
It's good that you and your sister have each other.
i like you dave, but when it comes to questions regarding the soaring rent all around the country, i tune you out immediately.
@Will C. I do the same. Dave has no clue about the every day working person. It is a jungle out there.
Welp, people chose to stop paying rent for two years, even when they didn't loose their job, so guess what, now the landlords are making up for it!!
@@bonnievandergriff8272 I lost interest in Dave to be honest. Used to be obsessed with this channel. Guy has lost the ability to be in others shoes. He just talks to talk. I really prefer the younger voices to daves.
Even the math on here doesn't make sense. 60k isn't much
Yep - he's in a bubble.
Did she vote for Biden?
I pray for all the hardworking people...
60K taxed is like 3500 a month. I like Dave, but he never takes into account taxes and they are much higher than he understands. My base pay is 92K and my paycheck is 2400 every two weeks. I am a RN and I get OT unlimited, but if I work just straight 80 that is what I get.
good point!
He thinks that it's 1990's Phoenix...🤣🤣🤣
Dude I like in CALIFORNIA and I make EXACTLY $92k/yr. gross, but a state pension w/full medical & dental ins. free tho. My 'take home' pay is $6k/mo. Seems you're including 'medical & retirement' as 'taxes'. I have ZERO write offs as well.
He doesn’t need to. Break down the rent and expenses and see what’s all there. 3500 a month pay. Live in less than 3500 a month. And find more work/money. Too many ppl on here saying u can’t make it on 50/60/100. Well ok then just accept that. LolOne is a growth mentality and one is a fixed.
I mean, were about 700 off but my take home is about 4300, with health, dental, and vision and I believe 2.5% for 401k. Probably double check where the rest of that money is going lol.
Many times people are "afraid" to change jobs or make a career change even if it pays more because of the fear of losing the new job shortly after getting hired, or they end up shortly not liking the new job for whatever reason like having a boss who is mean and micro-manages, or the other coworker are not happy nor friendly nor supportive in any way...or even that the new company is struggling financially and could shut down soon, these are all real fears that keep people from changing jobs.
Yup, but they either have to push through or accept what is happening.
I bought both of kens books and still couldn’t figure out where my skills, talent and passion collide
Find what you're good at and revolve everything around that
Lol
Imagine you didn’t need the money or work to live, what would you do?
That’s in the third book
Call into his show and ask that question
Stop the 401k?! Lol. That’s a 100% return guaranteed if matched. There’s no one, no matter how little money they make, that should not be contributing up to the employer max
He mean until the debt is paid.
@@tdgdbs1 look long term 20 years from now when debt is paid off. Why pay off $300/month in debt when that it worth $600/month at time, much more after invested for years
Dave forgot where the caller lives. Phoenix, AZ= highest increases in home prices, rents, inflation,.you name it.
Will also be the biggest crash. By Christmas 23 houses may drop by 30%
@@luispatino3180 what makes you think that
@@luispatino3180 Only 30%? That's not a crash.
Try MA!
I’ve had nightmares tennats before now I have an amazing tenants I can easily go up 3-400 bucks bc of local rent rises. I’m going up 35 bucks just to help increase in utilities
Glad you found good tenants and thank you for not exploiting them!!!
Glad your property taxes and repair costs have not increased. Seems like everywhere else they have gone up.
Dave’s a landlord he doesn’t understand people’s struggling.
Work overtime and don’t have a life .Like a Zombie!
You problem is not the Landlord, it is your income!
Do something about it, or just complain, your choice.
Well you either work hard or not at all.
Get out of debt and by a home.
@@Nolaman70 you can do both 🤡
No one is suppose to be safe from this whether you own or rent. We're suppose to own nothing and be happy
And be wholly dependent on the "State"
What brand of tinfoil do you prefer?
@@superblump87 No conspiracies here, just facts. Wake up. 😵💫
@@slhines7 😂😂😂😂😂
@@superblump87 it’s not conspiracy when you have a reputable organization with multiple high profile stakeholders invested such as Amazon, apple, Microsoft, pfeizer, and black rock, etc.. saying these words
Get a new job? She's 57 or something like that. It's not so easy at that age, most places discriminate believe it or not, they just don't admit it. They just say "you're not a good fit". He needed to ask more questions.
There’s so many job openings that would gladly utilize her skills and not discriminate against her age.
When this happened to me I had to refinance my car loan to make it. But paid extra after I was in a better situation. Car will be paid off in august. Never financing a car again!
Would have been helpful to know what the base rent was before it went up another $300
So true. She will be pissing in the wind if the rent is over half of her take home pay
Agreed!
Too bad Dave didn't ask her.
i don't understand what you mean by base rent? I thought landlords could charge whatever.
@@dachicagoan8185 I mean what’s her current rent. Is it going from $1000 to $1300 or is it going from $1500 to $1800? We didn’t find out what percentage of her income was going to housing.
Rents are out of control. In Orlando Fla a one bedroom apartment goes for about 2000 per month. She could live out of a small RV for awhile. That gives her more money to pay off debt.
:/ so many properties in my little town in tx literally doubled or even tripled in property assessment (duplexes especially) meaning that much more taxes, and thus rent. Really killing the ability for anyone to rent affordably for lower income or housing.
Right now, it's cheaper for me to live in my home than get a 2-bedroom rent.
Rv/trailer prices have risen 50% in the past year because there is a huge demand right now due to higher rent prices.
Ok let me just finance a 90k RV real quick
An RV in the Phoenix heat sounds terrible. Unfortunately this inflation will drive thousands of people into poverty in the PHX area.
I will never agree with stopping a free company match into a 401k. Stop everything else, cut back, beans and rice etc.. but always match your companies 401k %
Absolutely.
Always!!!! Free money.
100% agree!
I disagree with Dave in having the lady save aggressively for years, I understand we all want to save up for Retirement and have the retirement lifestyle of your dreams, but tomorrow is not guaranteed folks, sorry to burst your bubble. I remember this lady that used to work in the office all she did was talk about saving for retirement and how much she was putting away each check and how she couldn't wait for the day she retired, guess what happened? She ended up having a health issue lost so much weight she ended up being forced to retire due to her medical condition and she passed away. That's the day I learned I'm not going to burn myself out trying to save as much as possible, I'm living my life day by day and enjoy every bit of it. Tomorrow is NOT guaranteed.
Reminds me of my Dad's good friend who saved his entire life retired at 65 after 35 years of never missing a day of work, bought a new corvette and then dropped dead of a heart attack one month later.
I think a balance is needed. Everyone should be saving at least 10% for retirement at a minimum. You may not be able to work later in your life like you anticipate.
One thing is guaranteed, being old and broke is no fun. And at that point, there is not much you can do about it.
Of course you can still have fun.
Just consider that being broke, hung over , and talking to bill collectors is no way to live.
Your flaw here, is that you assume people don't take care of their health WHILE saving for retirement. The chance that I'm going to die unexpectedly is very slim and if I do my wife and child get my IRA and 401k. You are basing your future off one anecdotal example. Don't don't do that to yourself you will be broke and old trying to live on social security which probly won't be there.
Starting a business was the best thing i could have done at 19. Don’t have to work a 9-5 and get a 20% of my investments monthly. I try to tell people young as my age, but their mindset is “live life to the fullest “ and “ we are young who cares”. Sad
I just had to go up on my rent by $150 my tenant told me thanks she is still paying $500 less than her daughter that live in the same building. She is a great tenet and a didn’t want to up by that much the place is paid off. I would feel so guilty if I went up by the $500 like her daughter’s landlord. My tenets daughter went searching for a place that was cheaper. She couldn’t find anything comparable. She is stuck. My unit is a corner unit with lake front view and is gated. It’s very hard out there for everyone.
I hate how Dave never lets his callers talk .
He’s just trying to get info thats Pertinent
He never even asked what total rent was, or about other expenses she has. Pay yourself first, if most people waited to be debt free they would have nothing in retirement.
He did not even let her finish... he did not even ask how much she pays on rent, he did not ask how much she has on 401k. Dave needs to let the callers finish their questions
NIckel and diming into 401k is silly. Get out debt (other than a house), lower monthly expenses THEN contribute a larger sum for it to be worth it. "Side hustling" or second job at 57yo? Learn from other peoples mistakes and make hay while sun shines while you're still young enough to do it.
This is good advice. I used to make < $50K and saved to buy a house. I am grateful for no rent no mortgage no debt. Thank you Dave.
Every single time people called Dave in the past and asked for advice, he told them to sell their rental !!!! Just think if they would have ignored his advice! these people would have been in awesome position. Rent is up! and home prices are up! Dave often gives bad advice.
And they couldn't collect rent during the pandemic. They have to raise now to make up for that.
@@jimroscovius Or, they continued to collect rent because lots of people kept paying. DR likes to play up the fear aspect of almost everything, but the reality is that smart financial strategies usually work out
@@gafee2001 My kids kept paying, even on student loans. My daughter even paid hers off. They have integrity, unlike the moochers.
A lot of people especially depending on the state did not pay rent for two or more year
Thé woman called in because her rent is going up by $300. Did you address the question at all? No. You basically went around the question and told a 60 something year old that’s making decent money to go make more and buy a house in this climate. Made no logical sense
She eve if young has an income problem in my opinion. But the solution is not simple like Dave and company tend to think!!
Her problem is NOT her rent. Her problem is she's in her 50s with nothing but debt to her name. Her problem is she failed to prepare for growing older for the past 30 years. She should have asked these questions decades ago and she'd not be paying rent today, but have a paid off house by now with a nice nest egg to rest in. They gave her a clear plan, increase her income by 25%, get a second job, cut savings and investing for now, cut expenses.
What you do in your 20s, 30s and 40s will determine how you live in your 50s, 60s, and 70s. I'm 69 now, retired over 25 years ago from my investments I made working as a hairdresser decades ago. This woman didn't bother at all to prepare, now she's in a panic what to do. Remember the story of the Grasshopper and the Ants.
@@eckankar7756 it ain't that simple. There's stories of people doing financially well. Life takes a turn and they lose everything.
@@alextogo8367 SOME people have that happen, but very few, MANY more just never try. For those that life does 'take a turn' it's easier to get through that turn with a paid off mortgage and a good savings to not have that on their plate to worry about also.
@@alextogo8367 Those are exceptions. The average person is reaping exactly what they sowed.
These guys have plans for her without asking what her current bills are. I love this show but at times these guys live in a fantasy world.
Seems like they get the callers over to the switch board to get them the lesson plan or whatever they call it. This radio convo isn’t supposed to fix all their stuff but a quick little discussion for the sake of the audience.
I'd live in a cheap RV at my local Walmart to save for a house, then sell the RV down the road
I have a van conversion for fun, it's interesting to hang with those people that started out living in a van or RV to do just that, continue working and save for a house. Soon they find they don't need much to live on and quit their jobs to travel the country, or cut down to make enough to just 'get by' on. Somehow what focus of the original plan to buy a house dissipates. Not that it's good or bad, but the focus and intention changes. Short term maybe no issue, but I wonder when they get too old to sleep comfortably in a rig if they ever wished they had continued on their path to own a home. I'm old now, I love my van for play but more love my paid off mortgage, full bathroom, 40 gal hot water heater, washer dryer, shower, HVAC. I'm very happy I didn't lose my focus as an adult than to have my focus be an adult child and whittle away my youth on just play.
Plus you can move when the neighborhood goes down.
@@Nolaman70 Living in a Walmart parking lot IS the neighborhood's gone down.
Dave is just out of touch. Listen, she has at least 14 months to pay off 7k.
I refused to raise rent even though I could easily get $400 more per month. my renters need that money a lot more than I do. Dave is greedy
Dave isn't greedy, he's a businessman. Yes I know, that's an oxymoron. LOL
@@vickieclark5931 no he seems greedy. When I had renters they could miss 10% yearly and I still made plenty. Dave has money flowing from everywhere so he can afford more than most. Some business people can’t have enough.
@@donaldlyons17 how much does Dave collect in rents? How much money does he give away?
Being a landlord is a business, not a charity!
@@bettysmith4527 imagine being so broken brain you think not price gouging is charity. Slumlords don't consider equity because they plan on driving the home into the ground
Her HSA is her medical insurance...I don't think you can stop that until the term is over.
What is so cool about this is that while doing this program one could look at your over all health also. Can’t go to a movie but take a nice long walk.
I dunno Dave, So for the time being we don’t plan on increasing rent til they want to move, but not everyone can afford to not raise rent. Had someone tell me they got evicted yesterday because the new year contract was above what they used to pay with a new job that didn’t pay as well. Truly sad what inflation is doing to everyone
"High rents so what's the problem?" Dave with $100's of millions in Real Estate investments. 😉
You can tell he’s lost his patience with working / middle class people
@@beerkegaard His next book "Get off your A** and Pay me my !@&% RENT!" 😁
@@beerkegaard yes cause Dave thinks 70k to 100k a year is a fortune. It’s literally poverty if your not getting any assistance and paying all your insurance and taxes and such. He’s delusional
@@kylecrisman9230 exactly
@@kylecrisman9230 you can’t live off 100k??? Where do you live??
He is soooo out of touch. He never even asked here what her rent was.
I had to turn it off. This person is not smart. I'm being nice.
Dave isn't sympathetic to the rent going up. Dave raises his rents every year.
Rents are part of his income. If he could without being called out he would raise it 200% every year.
It’s just business at the end of the day yes we ppl struggles as renters but the only thing you can do is nut up and shut up and buy a house and do the same
How do you know he raises his rents every year?
@@angelalaskodi3459 come on now they have to make a living too think for a second they own the first property but are still on a mortgage for the one they living one right now maybe there rent has gone up too maybe higher than yours and they have to offset bc they might not even make full rent with the income from the first property so side hustle or job it is for them usually
Second prices have gone up on everything so it’s just affecting the ones renting and house maintenance has skyrockets in materials and mot to mention labor cost as well
It’s just a business at the end of the day
@@jamesearl8198 cool sounds like you just said become A bank's concubine.
Something I'm sure the Lord had intended. 🙄
My dad worked until he was 84. My mom until she was 75. If you can’t retire, you just don’t! My brother and I are close to 60. Neither one of us plans to retire. That is the reality of the modern world. This inflation is an eye opener. We can prepare better knowing what could happen.
I'm 54 and do not plan to retire at all. my dad 79 and still cuts his own yard and still drives and works on his car.
No inheritance?
Retirement is a fool's game, regardless of financial situation.
I’m 34 and I’ll be retired by 60 with a significant lifestyle, very possibly earlier.
@@adamseidel9780 what do you do for a living
well the bigger the risk, the bigger the reward and such impeccable trades are better executed by professionals.
True, I thought I was doing alright profit wise, until I needed assistance with diversification, I reached out to a coach and in less than a year I've made like 7x more than I make on my own.
@@LuisVargas-ih5vm
@@blaquopaque
@@LuisVargas-ih5vm Whoa, I just looked her up and found her official web page. It shows she's got some impressive records and SEC regulated. Can one rely on that?
Hyperinflation is destroying the middle class.
Lol this is not hyperinflation you don’t what to know what hyperinflation is.
Feminism destroyed her, she should have stayed married and had her husband's income to depend on. If she didn't marry a high value man, that's her fault.
🤣
Post wall wake up call!
Facts.
She skipped over the good men to chase Chad and Tyrone
im already expecting to pay higher rent next year thats why im trying to hurry up to pay off my car loan
Good plan...you are thinking forward. You have a success mindset.
Hindsight is 2020 but car loans are really the payday loans of the middle class. Avoid at all costs.
Move into a more affordable apt.; buy a home; find a roommate; find more income; prioritize your spending aka budget; eat rice and beans; stop eating out; move back home; etc.
When life throws you lemons, throw lemons right back at life!
Exactly , figure out a plan and work it.
Not a lot you can do about rent increase. The landlord has to raise it because their taxes and maintenance costs went up.
When property values rise, property taxes rise by the same % typically, sometimes more due to the sliding scale that might be involved.
When wages go up the costs of hiring people to do things goes up.
OWNING is self-protection vs rising rent,but not from the rising costs of owning. Generally you have a lower % increase in costs than the renter.
In the 80s I had to move into my van for almost two years because of 20% mortgage rates forcing landlords to increase rents.
My first 1bed/1bath apartment rental was $220/mo. in 1986 and today that same apartment is $865/mo. now which is still pretty good being a very nice high end gated apartment complex in upper middle class area.
So yes there's not much you can do about rental increases.
I just did something about my pay be going to school for a high paying career.
My bf had a huge rent increase and that pushed him to buy a house in the fall of 2019. I am glad we got into our dream home before the pandemic
Our? Is your name on the mortgage?
@@veroniquevesta7516 This was in 2019, so hopefully they are married by now. If not, there's a problem.
I'm glad for him, pain can be a great motivator to make a change in your life. Rent irritated me to no ends so I bought my first house when I was young. I'm still in that house nearly 50 years later.
First time i ever paid rent was in 1988 it was 222 a month . Its now 2024 and rent is 455 . Im retired in a senoir complex , not bad for 46 years later. I read about rents goung up like that in 1 year
Fine to stop the 401K but do NOT stop the HSA unless the balance is at least enough to cover the HDHP deductible!
Never stop your 401k contributions. Never give up your employer match. Dave is 100% wrong on that.
My “early bird special” if lease renewed by 45 days early was $101 more starting 9/1. If I waited until close to due date then it would have gone up by $258. I live by the caller in Chandler AZ
A little disagreement on HSA. He should really find out about medical expenses before saying stop the HSA. For my case I have a fixed expense of 5000 a year that I reach every single year. I mightsad well have that money be tax free.
Paying for medical expenses with pre-tax dollars is tremendously important.
Dave probably doesn't really know what an HSA is.
@@matthewgardner2144 I think he knows what it is but has not taken in to account the people that have that have a fixed medical expense like me.
@@brentkillian I just did a quick google and Ramsey Solutions has an insurance company that sells them! So he does know what they are. But not investing in one or halting 401k contributions is not a good idea.
Very good point! I totally agree.
Dave will raise your rent in a heartbeat, even if he doesn’t need the extra money
yes, rentier capitalism is parasitic
And he has every to do that. Any owner does
@@dcg590 yeah, if more people heard of Henry George, we could maybe swap all this income tax nonsense for land value taxes. Then being a landlord wouldn't be so insanely lucrative and people would have more money (the non landlords)
In Detroit..rent increased 100% (400/month) the user following the government's moratorium on rent
Actually , depending on where she lives , sixty thousand is not enough.
This is why I keep living in taiwan
Everything at the dollar tree is 1.25
I did that very thing. I took my education and very specific skill set, from a local level to a national corporate level. I responded to only two national level positions and landed a job at one of them in two weeks. It immediately doubled my income and I continued with internal growth to a six figure income with full ride benefits. I think it is a common mistake to limit employment options to a local level or state level. Why not sell what you are good at to the biggest players in the nation?
My rent goes up every year...8% . Other renters I know are being evicted. They are refurbishing apts. And kicking people to the curb in 30 days.
I’m in the same situation as the caller ☹️
A lot of us are
Beans and rice, with rice and beans for you too.
This woman should have asked these questions 30 years ago and she'd not be in this situation. She's way too old to be paying rent and have nothing to her name but debt. She fiddled away her youth and now calls in panic. At her age she should have a nice nest egg and a paid off house. She got good advise, she's going to have to work a lot now on to catch up but she can do it with their plan.
My landlord loves me. He must do my toilet had a leak and he was like, you need a whole new restroom and shower. But iv rented the same apartment for years and I'm thinking I'm paying this dudes mortgage. I'm a Dave Ramsey newbie so that's gonna change pretty quick
Glad you figured out you are working to make others rich, not yourself. Now become your master.
Some research shows that if you put money unto investing, it pays better than a mortgage.
@@Nepthu Dave has addressed that 'research' in several episodes and why it's not in the Ramsey plan.
60k after tax is certainly not as much as you would think. It’s a lot more than I have but it’s still not a full 60
Dont worry I had 39k cash and even that is not a lot.
She could probably buy a house now. My husband and I just bought one (we close the first week of August) and we were able to get 100% financing with no money down. We are keeping our current home and we are going to rent it out for extra income. She doesn't NEED to pay off the $7k in debt before buying a home. It would actually be wiser for her to buy a home now if she can get something where the mortgage payment will be cheaper than her current rent.
Lol did you get a va loan?
@@theAppleWizz No.
@@jrwheeler81how did you get a loan with no money down?
@@theAppleWizz VA is not the only loan that offers no money down. Research it. There are many ways do get a zero down loan.
@@jrwheeler81 which one did you get
Dave's empire will collapse due to his hearing loss and arrogant lack of empathy. Not cool.
He himself is a landlord who is OK with these rising rental prices that are pricing people out of their homes.
Not the landlord's fault that property taxes are increasing or the cost of materials and labor for maintenance are increasing.
Then go buy a d@mn house.
Your landlord isnt your buddy or brother. People like you were sure ok with those same landlords having to house people FOR FREE that could not be evicted for non-payment.
@@gatewaysolo104 true but even then. They would happily raise them with no strings attached
@@gatewaysolo104 40%?
Maybe work hard and save your money so you can become a land lord and lower the rent for all your tenants despite inflation.
$1000 is definitely not enough for emergency fund anymore. With rising costs and inflation it should be updated to $3000-$4000 now a days.
I know a lot of people don’t even have enough for an 1k emergency.
It's part of the Baby Steps, it's a start, begins the habit of savings, initiates having the feeling of a nest egg for support, as the steps progress she's to have enough to keep her for 3-6 months.
If you take your to get any moderate work done these days it's easily $1500.
If the caller reads these comments, I recommend Prepper Princess’ channel for some great frugal living tips
Buy a house? Mortgage rates just went up again, and will continue to do so.. Dave will say save a 20% downpayment. Good luck with that. 30% of take home pay of $60k gross is not much for mortgage, taxes, insurance, utilities and repairs, You can do that on $12-1300 a month? No.
This woman will never, ever buy a house in Phoenix under Dave’s mortgage rules
You can't might want to visit Prepper Princess
You ask a really good question. I used to live on 1,600 each month but was only able to save 20k after several years.
@@donaldlyons17 How much did you invest?
@@alinatamashevich3354 none I have to get a real job and the. Worry about investments.
Ken Coleman is a very annoying and not an expert on anything.
I’m so glad that I bought a home when I did. I haven’t had to worry about rent going up or being evicted since 2011. I hope she follows the steps as they helped me tremendously!!
Ken: Your talented! ….go make more money
Dave will never speak against greedy landlords. 😒 because he one of those greedy landlords.
Dave runs a business how can he not be somewhat greedy? Businesses that survive tend to be greedy right?
Dave never ask her what was her rent?
@@qjc2300 Does the rent amount matter if she can’t come up with the 300$ extra to pay it?
As someone who works in commercial banking, she might just be working for the wrong company. I get paid more than that as an analyst before bonuses.
Sometimes Dave doesn't take enough of a close look. I make $50k a year and my checks every two weeks are 1400. That's after taxes and my families high medical premiums are taken out. I have the right amount of taxes held. We get a small refund for cushion. We are working the baby steps but almost every paycheck have nothing to tackle our small $6k on a car loan.
Out of 2800 monthly we pay
$700 mortgage
$150 for auto insurance
$350 car payment
$200 for electric
$50 for natural gas
$70 for water
$100 for mine and my wife's phones
$700 on groceries
$200 on fuel
My wife stays home because we can't afford $1200 a month in daycare.
I make about the top end for my field and when discussing pay with my employer they inform me that I'm lucky to even have a job. The machine shop I work in used to pay top dollar but due to other shops in the area they have let wages sink. They get people all day to show up for $16 (not good workers, just bodies, different story for different day) and they think those of us making $20 plus are over paid as it is.
What city do you live?
Dave rarely remembers about taxes and medical etc. he’s forgotten what it actually takes to make ends meet with a family.
I bet you I know what Dave would say. What I am wondering is, where do you live that your power bill, gas bill, and water all are so much. Of course, I am in an apartment where they do not have meters for natural gas, water, just a power bill. Why the high medical premiums, will switching insurance companies fix any of that.
Assuming your phones are paid off. switch to Mint Mobile. I pay $15 a month (pay the whole year $180) for the 4GB plan. If your wife is home all day and has Wi-Fi no need to have a lot of data. My wife has the 10GB plan for $20 a month.
$700 sounds like a ton on groceries and could probably be cut down by shopping at Aldi.
@@mightymouse9001 I should have specified. We lump our groceries in with our household supplies and clothing. So it's really like $500 in groceries. And $100 in household supplies like cleaners, laundry soap, toilet paper, paper towels, diapers, baby wipes, etc. Then the other $100 is like clothes and shoes for the kids and ourselves. We shop at Aldi and Walmart. Thanks I will look into mint mobile.
Wow! So much wisdom 👏👏
It is getting tougher and tougher
to make end meet !
Don't buy a home in Phoenix. They're running out of water pretty quickly. Home prices and rents are going to plummet when the taps start to run dry.
This is great advice. Good luck to this woman. You got this sis!
My went up nearly $200 a month upon resigning for another year.
Don’t agree on the has, that’s tax free money if used for medical expenses
There's plenty of cheap homes in the North but no one wants to move to Pittsburgh
Define cheap?
I can't imagine why nobody wants to move to Pittsburgh. LOL
Dave's math is extremely stupid in this clip.
Live in an RV and be free!
Agreed. A manufactured home is another option.
So disappointing to hear Dave be condescending to someone seeking actual advice. Telling people to eat beans and rice and get an uber job can only go so far during high inflation/soaring rents/ layoffs.
What is the alternative? Theres nothing else people can do.
Do you have any better suggestions?
First of all show a little sympathy for a $60k income feeling like a $40k income now a days. Then start by asking how much rent is and how much rent is 10,15,20 miles further outside the city. From there suggest ways to save money such as shopping car insurance rates, consolidate debt if its high interest, ask what else is eating up the budget and suggest alternatives. Suggest getting a roommate possibly. Suggest car pooling to work if possible. Ask if she can work full time remote to move further outside the city. True not a ton of things she can do but at least show a little sympathy.
@@abrahamflores2566 yeah I agree trying to see all her options is always best. Sometimes we just don’t know but others can see what we have been missing.
4:06 ... put the cat on ebay ... lol
Why doesn’t Dave ever call out the landlords?
Exactly!!!!
No matter what, Dave wants you to kick 10% to the church and buy real estate 24/7/365.
I got financially blessed through tithing. It works
Light focused can destroy an aircraft.
Good advice but age 57 is a barrier doesn't matter the experience they want young people to work with that can be trained the way they want better idea is Yes get a second job and start tucking that money in to savings. Anna In Ohio
$54,540 is her take home after effective tax rate
$4500 per month
Food - $300
Rent and utilities- $1500
Gas and transport - $400
2100
Miscellaneous bills- 900
Let’s say an even 1500 is left
$1500 towards debt is paid off in less than 5 months
$3000 per month emergency fund x 3 months = $9000
$1500 x 6months = $9000
We are 14 months in.
$1500 per month for a 3% down payment (which is allowed in the plan for a FIRST TIME HOME PURCHASE)
$300,000 condo = $9000 down payment
Another 6 months
All in,
5 months debt paid
6 months emergency fund
6 months down payment
1 year and half of uncomfortable grinding….
And I didn’t even factor a small part time job.
THIS IS POSSIBLE WHEN YOURE FOCUSED
And get creative do extra work if you’re just outside of these numbers.
Is it fun? IT ABSOLUTELY SUUUUUUUUUUUUUUCKS!!!!!!!!
But it’s for a season and it’s worth it.
And it is possible!!
Also,… once you buy the house/condo, get a roommate to pay it off as fast as possible.
And work on increasing skill set to increase income.
It’s a two fold approach- increase income / while simultaneously reducing expenses
This is criminal raising rent 300 a month . Move even if its cost more to move dont let landlord win
Nobody:
Dave Ramsey Intro Jam: 100000% volume increase
What do you do about huge HOA increases when you and your husband are too ill to work and are in your 70's and 80s? We're even too ill to move. Severe heart disease, medical bills, and lung disease.
Get out, there’s a millennial that wants your condo. welcome to capitalism.
@@jmorris023 We don't have anything a millennial could afford. We have a home in a resort area, and we've decided to slowly start selling stock to afford the HOAs.
@@MaggieClarkSLC wait how expensive is this HOA?
Maragret, perhaps you should sell your "resort" home and move into a more affordable smaller condo... I don't feel bad for you when You are saying it's something millennial couldn't even afford and it's.a resort.
@@bettysmith4527 HAHAHAHA!!!
What is success? It's not all about money. Sometimes people can't live without all the new inventions and things in our life. Just look at how much a smartphone costs and your streaming subscriptions. Like do you really need streaming??? A good way to overcome inflation is start a side hustle business
When my rent went up, I looked for a cheaper place
Rent goes up. Goes up on my kids too. Life goes on.
Pay it or move.
How about finding someone who will hire a 56 yr old and pay them 80 k. Where are they at? It's easy to tell people to do something, esp when you're not the one in distress. With ageism still abounding in this country, she's fortunate to still have her job making 60k. She must have other debts that she didn't disclose bc I'm wondering why she's worried about her rent being raised when she only has 7500 in debt making 60k.
There’s nothing ‘ageism’ about it. It’s a fact that fresh-out-of-school job candidates have greater cutting-edge knowledge, especially of technology, greater enthusiasm, less ‘baggage,’ and are willing to work for a fraction of the cost. It’s called the value of new blood and fresh eyes. It’s all about meritocracy, not tenure. 😉
I starting a GoFundMe for Dave.
Move to Chandler. My brother just moved from the bay area to Chandler and man it's cheap over there.
Dave And Ken Said Get To Work! 😳 Scared Money 💰 Don't Make No Money 🤑 I Agree 👍💯👏
Please DO NOT stop contributing to ur 401k, especially if ur fully vested & ur employer is matching ur contributions. That is free $$! Contributions also give u an immediate tax break! $$ in ur health savings account, used for medical expenses, is tax free! If we enter into stagflation (high inflation + high unemployment) & u lose ur job, you may need ur 401k to survive!
She seriously needs to move to a cheaper city
Phoenix is expensive. Move to Texas.
It’s cheaper than Phoenix
Why would you buy a house and you probably wouldn't pay it off before you passed away I don't understand that
To protect against rising rent😊
Go rent then, and dont bother us with your tales of rent increases.