The easiest way I tell my kids that I know what I’m talking about is I say “I’m not saying I’m smarter than you but I’m saying I’ve made way more mistakes than you and learned my lesson”
My wife’s water broke one month early, and we had our baby boy on 1/28/23 im so glad we started working the baby steps, cause I don’t think I would of been financially ready to receive him so early!
Theres always a caller that gets a raw deal Just because break time ia coming. Id rather not get through at all than be completely rushed by them and basically not listened to. How about dont take the call until after the break. Give ppl the attention and time they deserve, these are the people who put ye and keep ye where ye are, don't get too big to remember that!!!
He may be a nice guy but he's not equipped to answer the financial questions; a distraction & unfair to callers. Rachel + any of the other co-hosts make for a more efficient show.
I have consolidated my student loans and refinanced them about 3 years ago. Even though I have a single payment, the separate loans are there under the hood. When I have extra to throw at the student loans (it's not the biggest debt at the moment), I separate the extra to target the smallest loan within my account.
Exactly. You need to have a budget, especially since he doesn't have an income and you are depleting your savings. If I were her, I would figure out what I could do to bring in an income until my husband got a job. A 1 income family is just fine...until that job is gone.
I agree. She also said she'd buy whatever was "needed". My question is, was it really a "need," or just things they used to get without thinking or questioning when he has an income (which he doesn't now)? She seems to be a rather frivolous person. Oh, I want/need something, so I'll buy it. Recipe for disaster. She needs to grow up. But her husband needs to get some money coming in, as well.
I agree. She started off saying she needs help budgeting, but the whole conversation switched to her husbands shortcomings. I stopped listening to that call before it had ended.
She had more conceptual contradictions than I could count. Changed her tune a bunch of times in the call. I think she's panicked and not even clear on what she really wants. It was like she was thinking through it out loud.
As for the $50,000 withdrawal from a Roth account, it is possible there will be no tax consequences. You are allowed to take out everything you put in (after 5 years of having the account open, I think it is), with NO tax consequences. The important question that was not asked is "How much did he contribute to this Roth account?" If he put in $50,000 or more, there will be no tax due to the withdrawal.
"Sara" doesn't tell enough about the situation for anyone to know what it is the parents are asking or doing, or exactly what it is that she and her husband have contributed to. She may be seeking validation for her perceptions not an actual situation. Ask more questions. Bottom line, it's her money so help or don't help.
She talked about it like a moral judgement and definitely looked down on them. I get being frustrated if they're constantly getting themselves into big messes on purpose. But the past is in the past when it comes to retirement savings, and she's holding a grudge
I didn’t hear enough about her parents to quickly make such negative judgements. Were they great parents? Did they sacrifice for their kids? Help Pay for college, weddings, ect? If they agree to help with a budget plan for the future, as their child I would help them. If I ever have to ask my child for money I would have tears in my eyes too.
My Daughter and her family are in to me for 1 year of house payments, car ayments, plus I am cosigning for the. AR loan and holding the contract for the house! I need help!!
I’m listening to the wife and she describes herself as the spender but she’s buying everything for four boys and the two parent household. It’s not like she’s buying LV bags
Love Dr. John and Rachel team! They are wise. I am saying this to help…Jade is super pushy and not connecting and over powers the other person she is hosting with.
I like the variety of hosts and Jade is definitely one of my favorites! Her story and her enthusiasm are so inspiring and energizing! I’ve never heard her be pushy and overpowering; name the show date and time stamp.
Honestly I see that as passion, they’re both passionate about the topics and feel comfortable enough with each other to speak their mind when they need to. Me and my best friend talk over each other sometimes but we’ve def learned how to maneuver convos together
Question regarding the caller whose husband took $50,000 out of his roth. She is worried about the tax implications. My understanding is that ROTHs are invested with "after tax" dollars. I underdstand he would be penalized 10% for early withdrawl, but why would he be taxed?
John and Rachel didn’t ask the right question. Was the $50,000 withdrawal contributions or contributions and earnings? And how long did you hold the Roth IRA. That is the key. If it was only contributions and you held it for 5 years there will be no taxes. If it was less than 5 years there will be a penalty. If you withdrew a loss from the contributions heck you can probably write the loss off. But there will be a penalty if you didn’t have the Roth for 5 years.
So, I'm guessing Dr. John thinks he's funny when he sings thoughtless or quick answers that aren't helpful in the least. Especially when he doesn't have all the information to make an informed answer.
Dang! Lorena in Toronto's husband wants $100/week fun money. We're BS6, bring home about the same income, and we have $100/month for both of us ($50/each). Priorities.
@@elainemcknight1191 we'd rather it go to sinking funds (car repairs, car replacement, home repairs, vacation, paying additional principal on the mortgage, etc.) We're not big on going out, and prefer to stay home.
I have friends with the best relationship. They have an emergency fund. They have a joint account that they both pay half the bills. Then they have their own accounts. When they buy stuff like a new car or even take the kids out without the other. They say they feel the hurt more when they spend out of their own accounts. She wanted to make extra mortgage payments they talked about it. They moved the same amount into the joint account payed off mortgage in 7 years. They made it a challenge to see who could save more. In 20 years they Have a payed off house and vacation house. Also have over a million in the retirement accounts.
I find Rachel's "Umm, man, ya know, I mean, what people are saying, it's just wow, this and that" filler and style of speech to be very distracting. I think it contrasts starkly with John's clearer way of speaking plainly.
I don't trust Lara gave accurate information. She doesn't have accurate numbers for what is actually required for them to live on. She didn't give us any information around what the 120k per year actually goes to. I have a sneaking suspicion that there's a lot of extraneous expenses in there and she never toned down her spending after her husband lost his position. I bet they can live off half of that if they need to, and they should've had that conversation a lot earlier. She should've told him he needed to get a job and work the project on the evenings, or get a job herself and bring some income in. She sounds like my mother. Lack of understanding about what she's talking about, but constantly worrying. You need to understand the problem to fix it, Lara.
This inflation/crazy economy is like fuel to my fire in paying off the mortgage. We have around you’re not have to go and we are in a house be spread at this point ;-) get her down
4:35 Often, I wish I could put my arm around sweet callers like this lady, and tell them they matter, that they don't need to use high rising terminal on every phrase. (Upspeak.)
Whenever Rachel is on, count on it becoming unrelatably bougie if you are really struggling financially. Caller talks about expenses and Rachel's brain jumps to sports fees (a luxury.) They even screen the callers that way for her. People making 11k a month. And the Question of the day is someone dropping 200k on a 300k home for remodeling. Psshhh. Bless Rachel. Sweet lady. Doesn't get poverty. (And I really.... don't get bougie.)
Why didn’t you ask her about her job? Why hasn’t she been working in 5 years? What kind of money is she bringing in?? I mean why was that soooo one sided. As a single mom for 25 years… I was the bread winner for my kids and family. She can be that person as well. I’m actually so disappointed that she wasn’t asked about her possibly working. If she was working she’d have no time to spend money.
@@slidegirl9166 except if you and your husband don’t make it you’ll be working and caring for 4 kids at a later date. I’m not saying you need to be the bread winner but you should consider bringing in some money as well. Especially if you’re spending it. I commend you for admitting you’re a spender, that’s a hard step.
The easiest way I tell my kids that I know what I’m talking about is I say “I’m not saying I’m smarter than you but I’m saying I’ve made way more mistakes than you and learned my lesson”
Wow very well said, noted . Thank you for sharing.
What I love about The Ramsey Show is that they get to the "heart" of the issue of why people are in debt...love this!
My wife’s water broke one month early, and we had our baby boy on 1/28/23 im so glad we started working the baby steps, cause I don’t think I would of been financially ready to receive him so early!
Congratulations!
Congratulations 🎉
Always my favorite co-hosts. Jon and Rachel are an awesome team and I really appreciate their perspectives.
1:49:02 John is so shocked by the disparity between salary and take home. I am in the US and I didn't think this is very far off from ours. IDK
They probably have thier taxes set wrong
John definitely had his mind on music this episode.
Theres always a caller that gets a raw deal Just because break time ia coming. Id rather not get through at all than be completely rushed by them and basically not listened to. How about dont take the call until after the break. Give ppl the attention and time they deserve, these are the people who put ye and keep ye where ye are, don't get too big to remember that!!!
I agree! Or start the call before the break, and continue after the break. They do that occasionally.
John let Rachel handle all the financial stuff. You keep cutting Rachel off
Her daddy wouldn't be happy about that🤣🤣
@@sarahmilner8483 I agree but I like both of their personalities when they host together.
He cuts everyone off.
@@sagmeister2234 because he jas 900 degrees did you know that? 😂😂
He may be a nice guy but he's not equipped to answer the financial questions; a distraction & unfair to callers. Rachel + any of the other co-hosts make for a more efficient show.
How did Ken and George end up at end of this one? 1:53:37
This is what I came to the comments for. What happened?
@@dianem4188 the whole show was John and Rachel until the final segment 🤔
This is from the January 24th episode too if I’m not mistaken
Listening…..loving it already!❤
I have consolidated my student loans and refinanced them about 3 years ago. Even though I have a single payment, the separate loans are there under the hood. When I have extra to throw at the student loans (it's not the biggest debt at the moment), I separate the extra to target the smallest loan within my account.
Laura (NC) admits not being good with budgeting, but blames her husband for not making enough. It's a 2 way street.
Exactly. You need to have a budget, especially since he doesn't have an income and you are depleting your savings. If I were her, I would figure out what I could do to bring in an income until my husband got a job. A 1 income family is just fine...until that job is gone.
I agree. She also said she'd buy whatever was "needed". My question is, was it really a "need," or just things they used to get without thinking or questioning when he has an income (which he doesn't now)? She seems to be a rather frivolous person. Oh, I want/need something, so I'll buy it. Recipe for disaster. She needs to grow up. But her husband needs to get some money coming in, as well.
I agree. She started off saying she needs help budgeting, but the whole conversation switched to her husbands shortcomings. I stopped listening to that call before it had ended.
She had more conceptual contradictions than I could count. Changed her tune a bunch of times in the call. I think she's panicked and not even clear on what she really wants. It was like she was thinking through it out loud.
I think there is a difference between not making enough money and not making any money.
As for the $50,000 withdrawal from a Roth account, it is possible there will be no tax consequences. You are allowed to take out everything you put in (after 5 years of having the account open, I think it is), with NO tax consequences. The important question that was not asked is "How much did he contribute to this Roth account?" If he put in $50,000 or more, there will be no tax due to the withdrawal.
"Sara" doesn't tell enough about the situation for anyone to know what it is the parents are asking or doing, or exactly what it is that she and her husband have contributed to. She may be seeking validation for her perceptions not an actual situation. Ask more questions. Bottom line, it's her money so help or don't help.
She talked about it like a moral judgement and definitely looked down on them. I get being frustrated if they're constantly getting themselves into big messes on purpose. But the past is in the past when it comes to retirement savings, and she's holding a grudge
It just seems like her parents either just want or need her money but she has her own bills
I didn’t hear enough about her parents to quickly make such negative judgements. Were they great parents? Did they sacrifice for their kids? Help Pay for college, weddings, ect? If they agree to help with a budget plan for the future, as their child I would help them. If I ever have to ask my child for money I would have tears in my eyes too.
Whoa! That ending.
What money market account did John go with?
Great advice.
So many typos… I meant to write we are in a high-speed sprint. We are pumped to get this done.
Next time, you can simply go back and edit your original comment.🤷🏼♀️
My Daughter and her family are in to me for 1 year of house payments, car ayments, plus I am cosigning for the. AR loan and holding the contract for the house! I need help!!
Is Samuel not over budget on the home itself? So I’d we even add any more they’re going to be house poor. Am I off on that??
1:52:35 to the end is a repeat from last weeks show🤔🤔
That thew me for a loop!
I wish Dr John wouldn’t sing
I try not to say anything negative but can John please stop “talk singing” lol it can get very annoying and he did it quite often 😆
I’m listening to the wife and she describes herself as the spender but she’s buying everything for four boys and the two parent household.
It’s not like she’s buying LV bags
I need 10k a month! In order to double my income. Any ideas?
Love Dr. John and Rachel team! They are wise.
I am saying this to help…Jade is super pushy and not connecting and over powers the other person she is hosting with.
I totally agree! I want to like her, but she doesn’t let anyone else talk.
I like the variety of hosts and Jade is definitely one of my favorites! Her story and her enthusiasm are so inspiring and energizing! I’ve never heard her be pushy and overpowering; name the show date and time stamp.
"chickens are crushing" John Delony is obviously an Owen Benjamin fan.
Why were Dr John and Rachel fighting for talk time on this show? They're usually so food together? It's like they were talking over each other.
Honestly I see that as passion, they’re both passionate about the topics and feel comfortable enough with each other to speak their mind when they need to. Me and my best friend talk over each other sometimes but we’ve def learned how to maneuver convos together
" They're usually so food together?" lol I've made that typo before too.
Dr Delony seemed a bit more hyper today, maybe that contributed to it. He sang a lot, for sure! These two have great hosting chemistry though.
@@margie909 too many gummi bears in his system. He's all hopped up on sugar.
When is Delony not hyper. Lol.
Question regarding the caller whose husband took $50,000 out of his roth. She is worried about the tax implications. My understanding is that ROTHs are invested with "after tax" dollars. I underdstand he would be penalized 10% for early withdrawl, but why would he be taxed?
John and Rachel didn’t ask the right question. Was the $50,000 withdrawal contributions or contributions and earnings? And how long did you hold the Roth IRA. That is the key. If it was only contributions and you held it for 5 years there will be no taxes. If it was less than 5 years there will be a penalty. If you withdrew a loss from the contributions heck you can probably write the loss off. But there will be a penalty if you didn’t have the Roth for 5 years.
@@toby7291 thank you for this explanation.
@@toby7291 and this is a perfect example of why they need Dave. Pertinent questions are continually not asked, so correct answers can't be given.
So, I'm guessing Dr. John thinks he's funny when he sings thoughtless or quick answers that aren't helpful in the least. Especially when he doesn't have all the information to make an informed answer.
Dang! Lorena in Toronto's husband wants $100/week fun money. We're BS6, bring home about the same income, and we have $100/month for both of us ($50/each). Priorities.
Honestly, $100 a month for two people in bs6 is seems very low. Live a little more! Y’all have done a great job!
@@elainemcknight1191 we'd rather it go to sinking funds (car repairs, car replacement, home repairs, vacation, paying additional principal on the mortgage, etc.) We're not big on going out, and prefer to stay home.
I have friends with the best relationship. They have an emergency fund. They have a joint account that they both pay half the bills. Then they have their own accounts. When they buy stuff like a new car or even take the kids out without the other. They say they feel the hurt more when they spend out of their own accounts. She wanted to make extra mortgage payments they talked about it. They moved the same amount into the joint account payed off mortgage in 7 years. They made it a challenge to see who could save more. In 20 years they Have a payed off house and vacation house. Also have over a million in the retirement accounts.
I find Rachel's "Umm, man, ya know, I mean, what people are saying, it's just wow, this and that" filler and style of speech to be very distracting. I think it contrasts starkly with John's clearer way of speaking plainly.
These guidelines into Debt Free are they complex
Try watching
Not at all
Simple but not necessarily easy.
I don't trust Lara gave accurate information. She doesn't have accurate numbers for what is actually required for them to live on. She didn't give us any information around what the 120k per year actually goes to. I have a sneaking suspicion that there's a lot of extraneous expenses in there and she never toned down her spending after her husband lost his position.
I bet they can live off half of that if they need to, and they should've had that conversation a lot earlier. She should've told him he needed to get a job and work the project on the evenings, or get a job herself and bring some income in. She sounds like my mother. Lack of understanding about what she's talking about, but constantly worrying. You need to understand the problem to fix it, Lara.
This inflation/crazy economy is like fuel to my fire in paying off the mortgage. We have around you’re not have to go and we are in a house be spread at this point ;-) get her down
I like John and all the peraonalities but please stop singing.
Where do you get a Camry or Honda Accord for $5,000?
1986
Used cars. Probably has about 200k miles and is from 2010. And it will get you through baby step 2. Specking from experience.
@@jnelwise still trying to figure out where to search for these. Everything I have seen is 8k and up
Agree. I can't find a dependable one for less than 10k here in the north.
@@fourdayhomestead2839 That's the way it is in the North. Have family in other states further south? Try to get cars around there.
4:35 Often, I wish I could put my arm around sweet callers like this lady, and tell them they matter, that they don't need to use high rising terminal on every phrase. (Upspeak.)
That's how Americans speak.
@@amireallythatgrumpy6508 yep. Especially the women.
@@amireallythatgrumpy6508 is not how Americans speak. I notice is younger females, people who don’t know who they are yet.
@@kw3113 Americans in general don't know who they are.
Whenever Rachel is on, count on it becoming unrelatably bougie if you are really struggling financially. Caller talks about expenses and Rachel's brain jumps to sports fees (a luxury.) They even screen the callers that way for her. People making 11k a month. And the Question of the day is someone dropping 200k on a 300k home for remodeling. Psshhh. Bless Rachel. Sweet lady. Doesn't get poverty. (And I really.... don't get bougie.)
Why didn’t you ask her about her job? Why hasn’t she been working in 5 years? What kind of money is she bringing in?? I mean why was that soooo one sided. As a single mom for 25 years… I was the bread winner for my kids and family. She can be that person as well. I’m actually so disappointed that she wasn’t asked about her possibly working. If she was working she’d have no time to spend money.
Which caller?
I’m not working and caring for 4 kids so my husband can work on developing his GolfBuddee(tm).
@@slidegirl9166 except if you and your husband don’t make it you’ll be working and caring for 4 kids at a later date. I’m not saying you need to be the bread winner but you should consider bringing in some money as well. Especially if you’re spending it. I commend you for admitting you’re a spender, that’s a hard step.
This is one my Favorite groupings!!!! Less George please
Algorithm
Something tells me these two have something going on ….did anyone notice how happy John is when with Rachel ? And all the singing he does ? 😂
Notice how no one liked your stupid accusatory comment
😂😂
When the hosts read scripture I completely cringe to my core 🧀🧀 the absolute ghal of it
What’s “ghal “ ?