Should I Stop Investing To Get Out of Debt?

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Опубликовано:

16 сен 2022

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Комментарии : 134

@dougholdem2898 Год назад

Should I Stop Investing To Get Out of Debt? No, you should reduce spending to get out of debt!

@chawanneburn6003 Год назад

Have you applied for your state grants funds yet

@d_all_in Год назад

Never stop your matching

@brendondowdy5651 Год назад

Agreed that's the biggest thing I disagree with Dave about.

@joeltrain Месяц назад

Dave is like the AA of the financial world. Some people can have a glass of wine with dinner with no problem, others become addicted.

@nickm4662 Год назад

I paid off my car, bought my house and I am still financially responsible while taking the match the whole time. Just be smart about it.

@RandomVids519 Год назад

Jesus maybe loves you

@vmolina2002 Год назад

Congrats! That's great news

@musicman0559 9 месяцев назад

No need to “focus” on the 401(k) contribution… It comes out automatically… So you can “focus” on paying off the debt while contributing to at least get 100% match.

@jay-qy7dv Год назад

Dave haven't changed in 30 years what you think he was going to say no matter how the world changes he keeps his same principles

@frobeck1487 Год назад

Really stupid when you think about it.

@monkas7270 Год назад

@@frobeck1487 you’re stupid for watching ramsey when you disagree with his principals.

@time4advancement244 Год назад

@@frobeck1487 Yep

@xfhnhhgjbvcfg Год назад

Because they work.....

@Michael-mf6vm Год назад

What Dave doesn’t mention is that him getting the match for his 401K is an instant 100% return… it’s literally free money the guy is leaving on the table. He should contribute to the matched amount and pay off his debt with everything else IMO..

@NoRegertsHere Год назад

It’s more than 100%. Compounding until retirement age

@TSones23 Год назад

I agree, he should do the 401 k traditional for now to take advantage of taxes, eat rice and beans, cut vacation and even if possible get a roommate! Eat from home and pay off that debt

@Michael-mf6vm Год назад

@@NoRegertsHere very true! I was just referring to the instant ROI from the match itself

@reaalitykinggs Год назад

Yup

@insideoutsideupsidedown2218 Год назад

When you are in debt, there is no money on the table, you are in a hole.

@Williams093 Месяц назад

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

@Lourd-Bab Месяц назад

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

@Williams093 Месяц назад

@@Lourd-Bab However, if you do not have access to a professional like JUDITH ANN PEACE, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments

@Lourd-Bab Месяц назад

@@Williams093 Oh please I’d love that. Thanks!

@Williams093 Месяц назад

@@Lourd-Bab Judith Ann peace is her name

@Williams093 Месяц назад

Lookup with her name on the webpage.

@dancalmpeaceful3903 Год назад

My friend asked me in the roaring 90's should he pay his house off or should he invest - I said, "Do both". I always did and I'm in good shape now. You need to KEEP putting money into your 401K. "Time" is your best investing friend.....so is dollar-cost averaging.

@TheRealTommyBear33 3 месяца назад

wish my job had a 401k lol

@LisaApril Год назад

I can’t believe this guy. 160 K and he can’t figure out how to pay off 85K? Please…

@dancalmpeaceful3903 Год назад

I"m with you - this guy is a dolt. I'd be rich if I was making 100 grand much less 165 grand!

@reese85 Год назад

@@dancalmpeaceful3903 100k ain’t as much as you think

@jorgesalazar818 Год назад

@@reese85 in CA 100k as a single taxpayer means you'd pay almost 50 percent of your income in taxes.

@electrictouch1188 Год назад

@@dancalmpeaceful3903 that’s why you aren’t rich and why you aren’t making a 100k because you’re a dolt yourself.

@xsgtxbigboy1655 7 месяцев назад

That’s two ppl making 80 it’s not rocket science nor rich

@larryhawes8295 Год назад

The MBA and marathon analogy isn't that great whereas contributing to an IRA with a match requires virtually no distracting effort or focus. The man's income can tolerate both paying off the debt and the IRA contribution quite easily. Both plans seem to work, it's the going out to eat and vacations that are the only part of the plan that doesn't.

@lepoj Год назад

With how young he is, it would be completely moronic to not at least do the 401k match.

@Michael-mf6vm Год назад

Instant 100% ROI too

@mr.financial Год назад

Yeah I agree 100%. Unless one has high interest debt, one would be stupid to not invest like that. The idea of focus is somewhat incorrect. Anyone running a business or a family knows how to focus on more than one thing at a time 🤣

@matthewlangley3524 Год назад

Plenty of people have had that idea and they have not changed the way in which they handle their finances. Go create your own plan. Get people to do it your way and then monitor the success rate. If you are too lazy to try, at the very least you could stop talking here and throw your support towards someone you align with more.

@lepoj Год назад

@@matthewlangley3524 I look up a lot of investing videos. This one came up so I watched it and gave my opinion. That's how the internet works. Stay mad bro

@blackworldtraveler3711 Год назад

@@Michael-mf6vm Company match is pretax.

@philuent Год назад

dave triggered @4:57 😂

@PInk77W1 Год назад

Big time.

@djpuplex Год назад

Get the match and put the other amount at the student loans. They have masters degrees.

@djpreast6638 Месяц назад

It's ALL in behavior, the "how bad do you want it" approach. Discipline isn't easy.

@CalebHammerComposer Год назад

He just bashed people for being on TikTok when this is on RU-vid lol. The younger generations deserve personal finance education too!

@amireallythatgrumpy6508 Год назад

There is a big difference between Tiktok and RU-vid. Tiktok is where the idiots of the internet congregate. No intelligent life there whatsoever. There is some intelligent life on RU-vid.

@untouchable360x Год назад

"They have more degrees than a thermometer." CGA

@dancalmpeaceful3903 Год назад

Good one.

@pey7777 Год назад

I'd love to see the stats on how many millionaires in Dave's study kept contributing enough to their 401k to get the match while paying off debt. I doubt they asked this question because the answer would likely contradict Dave's teachings

@jimmymcgill6778 Год назад

I like to see how many also. Dave always bring up strawman points. Which I'll bet they never even asked them that question.

@lepoj Год назад

Despite Dave saying his research is "air tight", it has a lot of flaws

@maryfields877 Год назад

I get the match even though I decreased my contributions. $273 to my $50 biweekly.

@stevenporter863 Год назад

@@lepoj Dave may have cherry picked the questions to validate himself.

@mannyjeanpierre4062 Год назад

It's irrelevant. No debt, paid for home and 401k afterwards is what got them there. He says it all the time

@random-nz7dy Год назад

I definitely think it's true that most people aren't nearly as good at balancing multiple difficult things as they think they are. I believe it's the dunning Kruger effect in psychology that basically people tend to weigh overestimate their ability at being good at things. Like if you were to ask a 1000 people if they are in the top 20% of good drivers like everybody's going to say yes lol.

@cobrafinancialsolutions1039 Год назад

Great video!

@markyouneva7840 Год назад

Mostly high earners call into the Ramsey show, so it's always an easy fix, "stop being stupid, stop being financially reckless and start paying your bills" It's not real world issues of unexpected large life expenses, health issues, low incomes and high cost of living, etc, which are mostly correctable but it's not as easy to navigate

@WeBeatMedicare6969 Год назад

Exactly

@jquinlan94 Год назад

7:50 I'm feeling this being in BS456 trying to pay off the mortgage, save for retirement and also put money aside for sinking funds.

@chawanneburn6003 Год назад

Are you able to successfully applied for your state grants application fund's yet

@Cravz69 Год назад

Whoa, good timing

@mannyjeanpierre4062 Год назад

According to Dave... yes

@Douceeee Год назад

Awesome video guys!!

@chawanneburn6003 Год назад

Are you able to successfully applied for your SBA grants fund's yet

@Thurgor_Supreme Месяц назад

I've never understood this. You can still be "gazelle intense" without 6% of your income. Why would you throw away free matching money from your employer?

@naksookow 26 дней назад

You must at least invest up to the match in your 401k. That match is income. You must build that base in your 401k as early as possible regardless of debt. 401k match is like time. Don’t pass it up.

@mccoyji Год назад

He's trying to ball it up early. Causing all of us inflation

@morganottlii2390 Год назад

I was Dave Ramsey before I heard of him. Don't owe anything on time, but have a hard time with "retirement savings". But I have a good bit of paid for land, including Cemetery lot.😁

@chawanneburn6003 Год назад

Are you able to successfully applied for your SBA grants fund's yet

@morganottlii2390 Год назад

@@chawanneburn6003 I'm not in a business of my own anymore. I work for someone else, in the biz I love, doing what I know how to do. No gripes about pay. I have been the boss in this biz that feeds the country, and I know how it goes.

@chawanneburn6003 Год назад

@@morganottlii2390 Sbagrants649@

@chawanneburn6003 Год назад

@@morganottlii2390 That's SBA Gmail address......Just emailed SBA directly for further grants inquiry about your state

@rocknjock872 11 месяцев назад

At $160,000 a year salary this man can contribute to his 401k while aggressively paying off his debt.

@yoly10548 Год назад

We dont want to be rich, just set free from system slavery.

@FooFan-b3k Год назад

And this is why The Money Guys advice is far superior to Dave's. He sure is a clown sometimes.

@aaront936 Год назад

His worse advice by far has to be this and his 10% withdrawal strategy.

@PInk77W1 Год назад

He is just getting people to concentrate 100% on getting out of debt.

@aaront936 Год назад

@@PInk77W1 and in the process he's killing their financial future

@PInk77W1 Год назад

@@aaront936 10,167 millionaires he interviewed disagree with u.

@FooFan-b3k Год назад

@@PInk77W1 No they don't. Look, if you're a train wreck and financially illiterate which a lot of people are, then Dave's steps sure beat doing nothing. That said, if you have half a brain you know that unless you have so much debt you can't breathe not taking the 100% guaranteed return is foolish. And there's no chance those 10,167 millionaires stopped their 401k's while becoming debt free. I know I didn't.

@cookinthekitchen Год назад

Lattes are fairly healthy

@JustinCase780 Год назад

If lack of focus is so difficult why would anyone ever stop putting money into their 401K when young? Especially with a match. Think of it like a tax and don't question it. People that get off the investment horse usually waste the difference somewhere else.

@flch95 Год назад

Exactly. Never stop unless it’s life or death.

@lkj0822g Год назад

The caller was paying off his loans using a self-imposed three year amortization. Nothing wrong with that. Keep doing what you are doing, contribute to the 401k AT LEAST enough to get the match, and stop listening to talk radio salesmen who are trying to get you to buy his books, seminars, apps, and Rachel Cruz wallets.

@insideoutsideupsidedown2218 Год назад

Yeah, cuz nothing he says works…its been working for 30 years. And you can check out his books at the library, everyone knows that.

@Nolaman70 Год назад

Always take free (match) money, always. They don't need beans and rice, they aren't poor...

@chawanneburn6003 Год назад

They're currently available ongoing SBA grants fund's for homeless people, widows, single mother, Veteran's,,transportation grants, mental health grants, jobless people and business grants funds programs in All America states

@JasonGroom 5 месяцев назад

And on this Dave is 100% wrong. No matter what interest is charged to you on the debt, you will always beat it by a mile on an employer match. All you are doing by stopping your investment is mortgaging your future to pay off the mortgage you already took out on your future. Should you be going crazy on investing to pay it off, no, absolutely not, the regular market will not beat it, but your tax free employer contribution and match is easy, you never see the cash, and it is far better than paying down debt

@mccoyji Год назад

Investing.....lol More like hope and gambling.

@yoly10548 Год назад

Thank you Mr. Ramsey God first, and your advice second, love it! May the lord continue to bless you and your ministry.

@Elizabeth-yg2mg Год назад

Gag.

@user-me3np9cx2d Год назад

I like lot of Dave, but I think on this one it is terrible advice to give up the match.

@lukeharris2622 Год назад

✝️🙏

@brianteague44 2 месяца назад

He has a wife...thats the problem, women love spending and men have the reality/fear that if you dont spoil your woman and give her what she wants materialistically she's gonna leave you for a man that will

@jimmymcgill6778 Год назад

Dave is wrong. Always using straw man arguments saying we asked all the millionaires and they didn't say so and so? Listen to you friends on this. Dave is always putting other putting people down. His way is not the only way. Millions of people do multiple things at one time. So what if it takes longer then two years to pay. It then takes four. Big deal. Stopping it for two, you will lose out on hundreds of thousands in the future.

@NaNa-lt1po Год назад

While i agree with you and also suggest take the match.. Dave's way is also, not wrong. Its just not that efficient. But he is not going for math,as he admits... he goes for behavioral changes.. I say, Take the good, junk the rest.. lol

@jimmymcgill6778 Год назад

@@NaNa-lt1po They can do multiple things at one time. They planned a wedding, and got there masters in the same year. Dave should stop thinking that no one has the discipline to do multiple things at the same time.

@JustinCase780 Год назад

Jimmy Numbnuts you are CORRECT! There is no reason to ever stop investing especially for a young person with a match. Once they stop their 401K they blow the money elsewhere.

@aaront936 Год назад

@@NaNa-lt1po stopping investing is the wrong behavioral change to instill.

@megalodon1726 Год назад

If he asked the millionaires if they kept contributing to their 401k (enough to get the match) while paying off debt, I bet most of them would say Yes.