They Make Too Much Money To Still Be in Debt 

Wow! Congrats on that. Is it preferable for me to save money or allocate a significant amount of my salary to stocks in order to accomplish this goal?

Varied sources of income is wise and especially living within your means. My net worth is over $1M and I can pay my bills with no stress, but I don't live like I have that. I have no complaints.

Although financial advice is arbitrary and what works for one person may not work for another, planning is always preferable. I consider myself fortunate to have been introduced to personal finance at a young age. I started working at the age of 19, purchased my first house at the age of 28, was laid off at the age of 36 during the COVID-19 pandemic, and immediately sought advice from an advisor to manage the expansion of my finances. After further investments, as of right now, I'm only 25% short of my $1 million target.

This intrigues me. I've looked up financial advisors online, but finding one to connect with is a bit difficult. Do you mind if I ask for your recommendation?

Well, I chose Kristin Amber Landis as my advisor after her interview on CNBC In 2020. She is SEC regulated with offices in the US and quite frankly a genius with portfolio diversification. You should look her up

You sound jealous

@@19hundoc47 You sound gay.

No, he's stating facts.

Couple more years ill be the joneses paid off house in december 22 saving up cash to buy my first rental cabin in pigeon forge definately not gonna finance a rental cabin at 7% lol

not really, think about how dumb he is making 20k and wastes 20k+ a month. if i was his boss i will be judging him now on his work performance. thinking im probably paying this guy way to much.

Calm down. A roof loan that can be paid off in a year isn't a big deal

@@Thurgor_Supreme No responsible adult should need a roof loan 🤣

@@Thurgor_Supreme, the roof is just a symptom. If this young person ever wants to be wealthy/comfortable they must make some sacrifices TODAY. He certainly makes enough money to make it happen.

​@@tristan2332Do you have the cash on hand to replace a roof? Probably not. 😂

Oh thanks for the tip Bob. You’re a really smart guy

Imagine making that much and thinking selling a paid off truck to pay debt is a good idea.

They probably have one of those huge impeccable kitchens because they never use it.

I wonder how big the roof is.

You're wrong, they use the kitchen. But the maid and butler keep it spotless! Lol

@@charlesandrews2513 Are you serious?? In Bidens 2024 American, $250K is just barely above what middle class used to be. My wife and I make around $300k or slighly more a year.....We have no maid or butler and use our kitchen 2-3 time a day, 7 days a week. We also grow much of our own food and freeze/can a lot of it. Grow up man.

I agree, "As Best We Can" was definitely the trigger point! Ha, ha. 🤣

I paused the video to make a cup of coffee😂I knew this would be good 😆

Dave-ish 😂

That is the only liquid investment they have. Their 401ks are probably great.

A maxed out 401k contribution is $69k per individual with a maximum of $13.8k for an employer match; so about $56k out of pocket. I'm guessing that the $275k a year is both of them combined. So, with both of them maxed out for their 401k's, about $112k of their $275k income is going to retirement; about 40% of their total income.

​​@@MrHeavy466they are probably talking about tax-advantaged contributions

​@@MrHeavy46669k? Uh no

​@@MrHeavy466But if maxing out their 401k is causing them to go into debt by taking a loan on the roof then they either need to budget the rest of their money better or scale back the 401k a bit.

Arigato !

​@@mbank3832Couldn't translate it to English.

@@BREEZYM6015 then dont worry about it

Thanks

Had Dave so upset where he’s like, “I know I’m not talking to myself.” 😂

It's only 15% of income will take way more than a few years. But he should retire with millions if he keeps away from debt and stays on track.

​They are putting nearly 50 grand a year in 401ks and paying off their house. They make 270k a year and people are critiquing and criticizing them in the comments. They are better off than 95% if not better than everyone here. People sure love their cope though. ​@@tristan2332

??? he has 15 grand

Well, he did have to take out a HELOC. Why didn't he pay in cash? He had to BORROW

Thing is there’s limits to the 401k. Dude should be swimming in money. I don’t make $100k and I’m fine because I’m disciplined.

😂

😂

The irony... Came to the comments looking for this

He just needed someone to tell him it's stupid to sell his paid off truck to pay off a debt they'll be done with in less than a year.

Sometimes people do call to brag but I didn’t hear that in this caller. Usually those people start listing every asset they have and will share their income unprompted. This guy didn’t do that. Only shared numbers when Dave asked for them

Why would someone brag anonymously?

I see a lot of this. Or else everyone in America is on huge salaries. Even people who can barely string a sentence together is on over 100k dollars.

​@@raiden031makes them feel good to get the positive response about their income level. Why do attractive people call themselves ugly?

Is she a doctor or lawyer?

@@IrishMexican neither.

They are stupid

@@dougcharles6845Well what the hell was she doing??

@@UTP504 ignoring her debt, read the post very sslloowwllyy?

Exactly. I know people who make more than me but because they refuse to live within their means, they are more broke with more debt than me.

@@littlesongbird1 it’s more common than you would believe. I have a comfortable income and what I do to manage my spending is run 2 checking accounts: -1 where I receive my paycheck and contribute to savings/retirement from -1 spending account that I transfer my monthly budget into

Monkey see, monkey do. 😂

I don't know why I thought he said $3800! 😮 What size is this house and what kind of roof is this???

Imported Italian tiles? 😂

I'll bet anything that the house is extravagant.

They have high end roofs that can cost that much.

Our roof estimate in CA for a very small house was $20,000. Someone making $275,000 a year likely has a house at least twice our size. Unlike this family, we saved up and will be getting more bids.

If you think 275k a year is rich, you’re out of touch

@@19hundoc47if you think it’s not doing well, you’re in denial. I can only dream of making an income like that 😂

@19hundoc47 it’s insane how much these incomes be over valued

​@@19hundoc47yes and no. That income puts them on the path to wealth. My wife and I make similar money and don't consider ourselves rich, especially as we finish the last year of large student loan payments. But we are young with 401k balances north of $1m. We are on pace to have a $15m retirement account when we plan to retire at 60. That amount is likely to double over a 20 or 30 year retirement. At what point to we call ourselves rich? We are happy and doing well but still struggle and work on personal finance on a regular basis. Our society is set up to separate you from the money you earn in the easiest way possible. You can have $100 million but you're poor in the eyes of an Elon Musk or Bill Gates.

​@19hundoc47 Not being in debt is how you turn 275k a year into the upper class. It isn't rocket science, just common sense, dont spend thousands of dollars in interest payments a year and instead invest it, and it doesn't take long to move up in economic status. You're the one who is out of touch.

How is life over there?

@@BREEZYM6015 Pretty good actually. I personally cannot complain

@@njabulombuyazi5132hell yeah. Hello from California!

it really depends on what the interest rate is on the loan.....we have a mortgage at just under 3%....Why pay that off when we can make 8% easily investing....thats a net positive return of 5%

combined income is $275k....both are working

Hello!! how do you make such monthly, I’m a born Christian and sometimes I feel so down of myself 😭 because of low finance but I still believe God

Thanks to my co-worker (Carson ) who suggested Ms Christy Fiore

She's a licensed broker here in the states🇺🇸 and finance advisor.

After I raised up to 525k trading with her I bought a new House and a car here in the states🇺🇸🇺🇸 also paid for my son's surgery….Glory to God, shalom.

Can I also do it??? My life is facing lots of challenges lately

its all the miami coke

He could rap his call. 😂

His net worth is tied up in assets and he can easily cash flow other expenses. This guy is killing it in life. The cope and jealousness of you ramsey people is sickening.

Cause they want to live a lifestyle

There are plenty of bad managers. You have probably had them all your life. They make great money but are garbage people and even worse with money.

Good luck and bad judgement

This guy is in the top 5% of the world. Haters just wanna hate.

There is no reason he could not have saved up and paid in cash. You know for years when your roof needs replacing

$150k really ain’t a lot of money

​@@reese85it's more than enough to live comfortably within means in like 90% of the country.

​@@reese85it is if you live frugally. Average household income is what like $80k? $150k is a lot more than $80k if ya didn't know

Mo money mo problems

@@anthonyanderson9303 it’s really not. Y’all be over valuing these 100k incomes or household incomes I should say

Tiny homes dont count😂

He said he was maxing it out. He could easily slow down what he puts in, and cut back on spending and wha la!

Cool! Fresno, CA here. It’s BLISTERING HOT HERE!!!

Vallejo California it's hella Hot today 😅

@@jeffreywhitaker5154 yes, it is!!

Sacramento! Originally from Walnut Creek!

this is why I love YT comments 🤣

Waking up every 14th of each month to $210,000 it’s a blessing to I and my family… Big gratitude to Andrew Stella 🙌

Hello , I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?

Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Andrew Louis Stella, has been an amazing experience.

Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦‍♀️of myself because of low finance but I still believe in God

I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Ms Louis Stella 😊🎉

Agree... can't believe ramsey would recommend throwing away free money. Very strange.

Also they didn't ask what the first mortgage payment was. If they have a $2M house then the mortgage could eat all the income. And further, where is his spouse at in terms of cutting lifestyle? I mean he called but maybe she wants to keep living the lifestyle?

He told him not to pause his 401k…. Do you just comment on videos without actually watching?

@@kenerwin5716he told him not to stop his 401k…. Did you watch the video or you just felt the need to comment something that is wrong?

@@alexlarsen372in this scenario he did not recommend pausing the 401k but most of his recommendation is to pause it even if it means not taking the match

You're also screwed if you have debt by the way.

@@amireallythatgrumpy6508 correct. But if you only have $1000 if an emergency happens they’ll have to go further into debt. They make enough

Only insecure snowflakes think like this. Just because he makes more doesn’t mean he’s bragging

@@DC-cd5tv right! Why is he even calling? "Should I sell my truck to pay off the loan 5 months earlier" doesn't sound like he needs to change anything except maybe figure out if maybe he's spending too much but he doesn't seem to be over extending

He could reduce his 401K contributions though. He's maxing out at $23K/year each, and the employer probably isn't matching that much. He could probably cut it to $15K/year or $12K/year and still get the max employer match.

We were quoted $20,000 for a small house in CA. Someone making $275,000 likely has a house twice our size. Labor costs are crazy here. Not sure about Miami.

Type of roof. I have a 50 year roof. Would cost 50k plus

You’ll be the Hiltons.

Jealous

Of all the things wrong with NOVA, that's what you take issue with? Let them have their big vehicles. Give the government workers their bottle lol

@@sitcomchristian6886 who the fuck asked you

He said 15 thousand in savings

Dave figured it out in less than 30 seconds. He wanted a new truck, probably pitching to his wife the self-sacrifice of him giving up their truck to get them out of debt

$ for $ match up to 5% of gross In 3 months it’s all me

I know people that spent 50k+ on a roof so yea it's possible.

Europe: Work to live. US: Live to work.

You'll just pay more tax later

@@Dan16673 The aim is for the future generation to inherit it. I plan to convert it into a Roth. Once I reach the required minimum distribution age it’s what I will withdraw, because I will be living in a country with a very low cost of living, I don’t think I will need all of it.