Take Money Out Of My Mutual Fund To Pay Off Debt?

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Опубликовано:

30 сен 2024

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Комментарии : 84

@kimmarquis6595 2 года назад

Id love to see their dynamic more daughter and dad power house

@AD66Liberty 2 года назад

If your in a higher tax bracket, capital gains rate is 20%

@jcman240 2 года назад

And if your lower it's 0%

@EVATUBE1 2 года назад

How was Dave able to give his advice without asking a) total outstanding student loan owed and b) interest rate on the student loan? if o/s loan is significant or if the interest rate is low then i would not recommend to sell the funds

@ClaxtonBay123 2 года назад

You must be new here

@staceystrukel1917 2 года назад

@@ClaxtonBay123 🤣

@adamseidel9780 2 года назад

@@ClaxtonBay123 lol Dave’s methods don’t require math

@ColeBeasley 2 года назад

It's easy math.. 3x15 =45 then ad a zero... Nothing crazy

@richthepup 2 года назад

I’ve always said Dave and Rachel makes the best co host. Such a well balanced dynamic and Dave seems to genuinely enjoy her being there

@karimbennett5651 2 года назад

It’s a numbers game. Provided she’s not losing money by cashing it out, it’s best to do so and pay down the debt.

@amosbackstrom5366 2 года назад

Except she absolutely is losing money by pulling out. Dave's method is ideological, not mathematical. His "system" does work, but it's not the fastest way to get out of debt or build wealth. He ignores opportunity cost and has decided that debt can only be an indication of personal failure rather than a tool that people can use responsibly to invest in their future. That money was invested for her by her grandparents and will make her more money than she's losing on loan interest.

@adamseidel9780 2 года назад

It doesn’t matter if it’s losing money off the basis or not, it doesn’t make any difference into the decision to choose between money in a mutual fund and money on debt.

@Marcelino44 2 года назад

To never touch the mutual fund and act like it aint there.

@jsanjay5513 2 года назад

This isn’t great advice. The investment would compound over time, so it would have been better to never touch that money and maybe pick up a side hustle to pay your loan faster.

@666dynomax 2 года назад

He’s got his principles man

@jsanjay5513 2 года назад

@@666dynomax true

@jsanjay5513 2 года назад

@@saulgoodman2018 I’m sorry, what?

@stevee8318 2 года назад

It depends on what the interest rate is on the student loan. Paying off debt is guaranteed money saving, investing is always risky.

@jsanjay5513 2 года назад

@@stevee8318 sure but average student loan amongst all borrowers is 5-6% and a typical SP500 index fund average annual return is ~10%. You’re right that it isn’t promised but still.. going 100% into the debt doesn’t make numerical sense to me, maybe a 50/50.

@lkj0822g 2 года назад

Not a fan of this advice simply because of "muh baybee steps". This caller's grandparents could have given her cash, but instead, put the money in investments for a specific reason. Most likely, they wanted to jump start her on the path of a lifetime of saving and investing. Left intact, one day, this caller could look on her account statement (with a lot more zeros) and say "my grandfather and grandmother started me down this path and look at where I am today."

@ahmadsabban 2 года назад

i liked your point

@jcman240 2 года назад

Dave is wrong here, you pay no LT capital gains tax when your taxable income is

@alexlarsen372 2 года назад

You should be a host of a talk show for finances

@yazeedgh3812 2 года назад

She calls her father Dave Ramsey 😂😂

@kvgolfa Месяц назад

Rachel can't do 15x3 lol

@robloxvids2233 2 года назад

Rachel thinks her dad is good at math? Lol.

@ryanweston9677 2 года назад

Haha exactly. She's just bad at math if she can't understand how easy it is to calculate 15% of anything.

@ahmadsamadzai8255 2 года назад

The math was actually not hard at all. Like I expect my 12 year old to be able to do. 15% of 3000 is hard to do in your head?

@Primitive_Code 2 года назад

we math students and educators get offended when they call arithmetic math. I can show you my math homework, and no we don't use calculators, we hardly use numbers too.

@ClaxtonBay123 2 года назад

Yes it is

@talyahr3302 2 года назад

Yes that is hard.

@jrwntctv8091 2 года назад

@@Primitive_Code Real maths students get offended by maths being called math.

@jrwntctv8091 2 года назад

@@talyahr3302 It's only hard because everyone is out of practice. That would be easy if we weren't too reliant on electronics.

@jeffyeager1997 2 года назад

Who is the anorexic woman on the left side?

@Nick-gk6hj 2 года назад

Apparently she's never paid for a restaurant bill, or she's kissing serious ...

@miriambertram2448 2 года назад

Wow he is so wrong. Long term Capital gains rate is based on your total income. based on single or married you pay no tax on long-term capital gains if your total income is below a specific value I do not know the number for 2022

@staceystrukel1917 2 года назад

$41,675

@alinatamashevich3354 2 года назад

Maybe so, but his CPA does. It pays to pay for expertise in fields one has little knowledge.

@throughmyshadow 2 года назад

I only just learned that Rachel is Dave's daughter. I feel dumb.

@amauryfernandez3230 2 года назад

Nooooo

@matthewelliottheinen 2 года назад

no tax on lt cap gains up to 40k

@harrychufan 2 года назад

Only if your income plus the capital gains is less than 40k. If your income is 40k and you have 5000 in capital gains you’re paying that 15% on the 5000. Assuming your single.

@matthewelliottheinen 2 года назад

@@harrychufan @Saul Goodman yea yall are right. I can see why Dave said 15 now.

@harrychufan 2 года назад

@@matthewelliottheinen yeah learning how all the pieces fit together is honestly difficult. It took me a while to figure it all out myself

@matthewelliottheinen 2 года назад

@@harrychufan worth it tho :)

@nicholasmartinez6043 2 года назад

Rachel low key calling out her dad on his “invest in a good growth stock mutual fund from age 25 to age 65” projections lol

@littlebob1261 2 года назад

Terrible advice

@Striker50_ 2 года назад

I'll side with the multi-millionaire

@littlebob1261 2 года назад

@@Striker50_ If you think taking money out of investments make you rich go for it

@littlebob1261 2 года назад

@@Striker50_ Dave is super good for people that can't budget and need a wake up call. When it comes to wealth accumulation he isn't even close

@Striker50_ 2 года назад

@@littlebob1261 No one mentioned getting rich off of that.But it is one step closer to getting out of debt sooner

@littlebob1261 2 года назад

@@Striker50_ I bet nobody mentioned getting rich when telling people to sell their retirement investments, I agree

@johnmirbach2338 2 года назад

🤓🖖👍✌👌😎

@tymowens718 2 года назад

Mutual funds distribute capital gains every year. It’s likely her basis is higher.

@Manofsteel519 2 года назад

The math wasn't that hard

@Shibacentric 2 года назад

Dave’s math skills are way overhyped

@Primitive_Code 2 года назад

*arithmetic.

@CallsignEskimo-l3o 2 года назад

If you can't work out 15% of figure, how do you calculate your tip when going out?

@ahmadsamadzai8255 2 года назад

Dave pays for her stuff so she doesn't have to figure it. Or she uses a fancy calculator. lol

@jrwntctv8091 2 года назад

Tips should be 40% if you're in a country that does tips.

@Jumpman67 2 года назад

@@jrwntctv8091 no

@dwarrior7546 2 года назад

@@jrwntctv8091 sounds like a guy who depends on a tips for a living

@jrwntctv8091 2 года назад

@@dwarrior7546 Never received a tip in my life but would tip 40% myself :)

@RusskiCommieBot 2 года назад

Should we take out money from our banks and 401K’s because of the bank runs in Canada?

@xfhnhhgjbvcfg 2 года назад

You should burn it

@webfreakz 2 года назад

@bobbysmith1170 2 года назад

If you owe 110k on a house and have 54k in a mutual fund but no other outstanding dept should you cash out then

@I_like_turtles_67 2 года назад

@MrPhotographist 2 года назад

Americans amazed by simple math. Wow

@tioswift3676 2 года назад

Is she single? Ah, who cares. She won’t wanna pass this up right here

@webfreakz 2 года назад

@wewhoareabouttodiesaluteyo9303 2 года назад

What I found effective was to really stick by the 15% rule. If you have a large sum of money. Some % off that HAS TO BE EF. Then whatever is left should be put into investing. If you do it this way, you can never go backward UNLESS the emergency is so huge that your EF gets eaten up.