I think Katie deserves some mad respect. Working 20-25 hrs as a server and still earning $59000 a year? At 4946 a month, if she works 100 hrs (which would be the high end of her weekly averages) thats $49.46 an hour as a server. Quick research says around $17 an hour is average. She must be working her tail off during those 100 hours (and working at a super swanky restaurant).
@ĐinhLâmĐịnh
4 сағат бұрын
AWS to the moon! 🚀
@milikoshki
6 сағат бұрын
To the point about putting your financial wellbeing first rather than kids' college money: when you take it to the logical conclusion, putting yourself first IS setting your kids up for success, because they won't be stuck managing the crisis you created by not being prepared for retirement.
@fsuandrea
5 сағат бұрын
100% as an only child and my mother is nearing retirement with barely any savings, it ends up putting the burden on me in the end to make sure she has enough in her later years rather than her investing in herself from the beginning.
@lehuynhP7vi6
4 сағат бұрын
I've heard lots of people from X and Facebook talking about this one
@CaoBachChung
4 сағат бұрын
AWS is still extremely undervalued
@SkipThuHa
4 сағат бұрын
very promising
@VươngKimSang
4 сағат бұрын
Much better than all those shits altcoin with no utilities
@naimahabdullah-gulley4405
2 сағат бұрын
I love this format. It truly encompasses all walks of life. Seeing someone who makes $59K a year be more financially responsible than a couple who makes $300K a year shows it's not what you make, but what you keep. I have noticed a trend of these high earners in credit card debt with children are almost never willing to give up the private school. My question to them is, are there not any good public schools in your area? I live in Chicago, and CPS has selective enrollment schools, so if your child tests in, you're getting a quality education for free. Them asking for help for tuition while making that much money is the definition of entitlement. Another great video.
@13ikea
6 сағат бұрын
That last couple reaching out to family to help pay for the child’s school bills is extremely SELFISH. Sorry. They make more than enough money and refuse to sacrifice. If I was a family member they wouldn’t get a dime .
@CAGChannel1
5 сағат бұрын
Grandkids- we will do anything we can for them! ( even if the parents do stupid sh-
@Nic2Blk
3 сағат бұрын
Yep. That baby is 5, send them to public school and keep it pushing.
@lilmorearmy9175
2 сағат бұрын
I was just going to comment the same thing! Very selfish
@fredvc
7 сағат бұрын
I loved the CSP follow ups. These videos feel like an Express version of your podcast. Please keep doing it!
@nguyenthanhePal
4 сағат бұрын
It is funny that not everyone knows about AWS
@HoangVanPhuongAn
4 сағат бұрын
this is a life changing project
@ThachAiQue
4 сағат бұрын
Excited for AWS's potential gains ahead! 🚀
@KlausMauThuy
4 сағат бұрын
Happy to invest in AWS together!
@HươngDiệpOby
4 сағат бұрын
Feeling positive about AWS's future!
@lysec9672
8 сағат бұрын
Katie's example was so helpful! Amazing work Katie 👏🏾👏🏾
@nathansmith5726
6 сағат бұрын
The only half realistic one there although his advice was pretty bad - yeah just 2x your income lol
@lysec9672
5 сағат бұрын
@@nathansmith5726 that cannot be your takeaway from the detailed breakdown he did. I guess it's true that some people can only compute simple binary answers 😅
@IAmebAdger
14 минут бұрын
@@nathansmith5726 The advice was actually 'you cannot afford this, unless you 2x your income or do some other wizardry'. Nuance, people.
@dianacagle2545
8 сағат бұрын
“You guys want me to fix this?” Pulls up sleeves 😂 I freaking love these videos!!!
@SansonMySan
4 сағат бұрын
This is good project from Amazon
@TrangPhươngSparran
4 сағат бұрын
I am also AWS Holders 🚀
@TrươngQuỳnhTươi
4 сағат бұрын
Coinbase, OKX and Binance will list AWS very soon. We do not have much time left
@ChuMaiHà
4 сағат бұрын
Feeling optimistic about AWS! 👍
@HoKienDuoc
4 сағат бұрын
Excited about AWS! Let's see where this journey takes us!
@axrod1990
9 сағат бұрын
300k salary and have family paying for school. I though I was out of touch 🤣
@nathansmith5726
6 сағат бұрын
LOL ikr this is fucked
@vedransk5451
2 сағат бұрын
Showflakes
@Iykykbruh
56 минут бұрын
A privledge to have family stepping in. It seems like they come from money lol
@IAmebAdger
10 минут бұрын
I don't think we should class them as a true 300k salary couple. There's a huge difference between 300k salary couple and 300k salary with huge credit card debt disaster.
@justinsongnj
8 сағат бұрын
About the third couples daughter “I’m sure she’s wonderful, she’s great, she colors - whatever!” 😂 LOL
@racheee22
6 сағат бұрын
I laughed too hard at that 😂😂
@lulu-dr4eh
5 сағат бұрын
Me too, why was that so funny 😂
@HàQuangLân
4 сағат бұрын
What do you think sets AWS apart from other projects? It seems to be dominating discussions lately
@caotinh7WyN
4 сағат бұрын
lets PUMP this to the sky guys!!
@TruongKienPhu
4 сағат бұрын
When the world knows this, we already x50 🚀
@adamfrank66
7 сағат бұрын
in CSP#1, doing the 3% withdrawal rate wouldn't be a downgrade based on their current lifestyle compared to the 4%. It was forgotten that they wouldn't have to then invest the $1150/mo into their retirement
@Godlyhank
6 сағат бұрын
not to mention if it averages 7% a year growth their money would still compound whilst withdrawing.
@heatherpeterson6454
5 сағат бұрын
Exactly!
@dylanjonesSD
5 сағат бұрын
@@GodlyhankI think that’s the point of the 4% rule. It accounts for inflation and puts a buffer in case there’s a recession
@NguyệtHuyềnGuille
4 сағат бұрын
thanks for sharing, I just bought it
@johndough446
4 сағат бұрын
Also will likely have an advantageous tax situation, ie capital gains tax instead of normal income tax
@blurrydog1
3 сағат бұрын
I’m only 2 min in but the first couple just wanted to flex 😂😂
@albshel
2 сағат бұрын
With the third couple, their daughter is 5. She's not even old enough to appreciate the difference between public and private school. If they send her to a public school for her first year or two of school while they get their finances ordered, they can then enroll her in private school whose tuition fits in their budget.
@IAmebAdger
15 минут бұрын
Yes, exactly! As long as they can find a good one with a safe environment that is.
@Robot928
5 сағат бұрын
Private schools is such a racket. Just be an active parent and save the money.
@CAGChannel1
5 сағат бұрын
Disagree. Public school is not what it was for previous generations. I was shocked, even in a so called “ nice” area.
@vulpixelful
4 сағат бұрын
Agreed. There's other ways to address academic or extracurricular gaps without spending college tuition money on k-12 education
@lucaspm98
43 минут бұрын
It’s highly localized, but public schools in my urban area have metal detectors, Narcan on hand for overdoses, and regular gang violence. At the very least it’s distracting with poor outcomes to prove it. School systems have degraded in many areas to the point that very little learning takes place, and if you have any other option it’s a necessity if you want a good education for your child.
@nickbegnaud
8 сағат бұрын
Conrad's follow up is... concerning
@Ayaya787
6 сағат бұрын
A lot of self affirmation and hedging lol
@CAGChannel1
5 сағат бұрын
Wife’s fault; not mine! Makes me wonder what side of the family is paying for daughter’s school.
@GarettMacLaren
6 сағат бұрын
Really enjoy these CSP analysis videos, Ramit. They bring real-world examples into a relatable format. These and the tiktok roasts are top tier content!
@evanwrenn402
4 сағат бұрын
Everybody is so scared of public school lol
@vulpixelful
3 сағат бұрын
Yeah it's giving "social fragility" 😂
@crackpotfox
9 сағат бұрын
Love these episodes
@makeanddohandmade
8 сағат бұрын
Hahaha I love the Sethi family vacation 😂💕 so relatable!! Our family vacations were camping in tents at the campground a mile from our house (at the beach in Carlsbad, I’ll give you that lol)
@saynay333
4 сағат бұрын
The last couple isn't likely to get outnof debt anytime soon. Hopefully they come from a wealthy family because taking money for your child's education but you don't want to cut back on luxury spending while making $300k is wild.
@bettedavis9261
9 сағат бұрын
So, this first couple doesn't have homeowners insurance or taxes on their paid for home? Our house is paid off, but taxes and insurance is still about $650/month.
@sqlb3rn
8 сағат бұрын
I make the same annual and net $1k less than them monthly. I'd have to drop my 401k and insurance to bring that home. I guess they pay a lot less taxes than I have to.
@SpaceCase47
7 сағат бұрын
Right? Property tax does not go away when you pay your mortgage off.
@nodsib
6 сағат бұрын
They are probably very frugal and not actually spending the 15% for miscellaneous, which would help cover that
@bettedavis9261
6 сағат бұрын
@@nodsib I get that, but was surprised it wasn't in their budget. Even though it's a semiannual expense for us, I still budget for it monthly.
@cybertoeknee
5 сағат бұрын
The insurance portion is either the 15% they didn't account for, or they are self-insuring since you don't need insurance on a paid off house. I personally wouldn't want to take a hit to my investments in the event of a total loss due to a fire or flood at their income and asset level. After some Google Foo, I found 200% of the cost to rebuild the house is a safe number for self-insuring. The tax could be paid out of savings each year and therefore wouldn't get counted or reflect in their CSP since it's not a monthly calculation. There's really not a need to put annual or semi-annual payments in the CSP if it's covered by savings or guilt-free spending.
@bmorehead
5 сағат бұрын
Our vacations were very similar to Ramits, which wasn't bad when we were going to from OH to TN to visit grandparents, but it sucked when you spent 3 days in a truck traveling to visit my moms family TX. Its crazy because I remember one year where my dad but a futon couch, the ones that were 2 giant cushions sewn together, put it in the back of our truck and that's where we stayed for the whole trip. Only thing worse was riding greyhound for 4 days the year my grandma died and dad couldn't take off work. That was not terrible for me, but my poor mom was traveling with 4 kids, all below the age of 10. Eventually my dad got a conversion van and we thought we were living the good life.
@MissGirl1450
3 сағат бұрын
I too had to ride on a mattress in the back of a pick-up. We are so lucky nothing bad happened. My friend rode from the Rocky Mountains to Minnesota sitting on a cooler in van.
@FuriousTheGeorge
6 сағат бұрын
First one was just a humble brag.
@makeanddohandmade
8 сағат бұрын
Little gal in public school For one year is going to be just fine. She will only be in 1st grade 💗 not a grade where they want her to excel academically or are worried about peer pressure
@CAGChannel1
5 сағат бұрын
Have you seen public school lately , depending on where they are? It ain’t the school I went to; that’s for sure.
@Callie_FL
2 сағат бұрын
@@CAGChannel1Do you really think their 4k/month mortgage home is in a bad school district? 😂
@CAGChannel1
2 сағат бұрын
@@Callie_FL doesn’t have to be . Take a deep dive. Even in “,good” areas, it is not good in many places. It is not like the prior generations.
@CAGChannel1
2 сағат бұрын
@@Callie_FL one more situation that I wish we could do over - I would have them all in private for those very , very fundamental first few grades. The individual attention and so much more was beyond invaluable for my kids that went to. private vs. public in a “ very good” area. Relatives across this nation had similar experiences with a child / children who went to public vs. private in those critical years of getting the “ basics” down. Those that learned whole language vs. phonics in the initial years were hurt the most and never caught up. You would be surprised how bad things have gotten in government schools in the lower grades; it comes down to a roll of the dice on the teacher and directed curriculum in that particular district.
@ignitionSoldier
8 сағат бұрын
That third couple seems like they dont want to sacrifice much. But it sounds like they have family with money so they can get away with that. The rest of us who come from modest means cannot.
@kayjay7865
7 сағат бұрын
Can anyone explain how someone living in an upper middle class community is concerned with their public school system? Conrad said he and his wife want their children to have a quality education in a safe environment. Are upper middle class communities unsafe?
@JesusGomez86
7 сағат бұрын
For me, it all depends where you live, I believe they were from ATL, I can’t comment on there. But I’m from the SF Bay Area and you could easily make well over $100,000 and house be worth 1,000,000 dollars and still not live a safe/good area.
@CAGChannel1
5 сағат бұрын
Yep, they can have very sucky public schools. Things are soooo different now
@coya8coy175
5 сағат бұрын
@CAGChannel1 I was wondering the same thing as OP and that’s a real shame. I grew up in a mid middle class suburb and the public schools were not only safe but had advanced classes available, as well as a program set up with the local community college for high school seniors.
@rebeccaogrady2995
5 сағат бұрын
She might be physically safe, but I would not send my children to a public school because the philosophy and moral code does not align with what I believe. I think it's easy for Ramit to make jokes because he has never had a child.
@kdonor
5 сағат бұрын
"Quality education" may be a bigger factor. Who knows? Kids get bullied and assaulted everywhere no matter what "no tolerance" to bullying policy may be in place.
@SquatsAndThoughts
7 сағат бұрын
This was THE MOST helpful video so far. Thank you for including a median income earner, it was so much more relatable. Your advice to all 3 was outstanding, and I enjoy hearing your takes.
@Jane5720
6 сағат бұрын
Third couple, Conrad: their daughters education I can’t believe that he’s accepting money from his family to help pay for her tuition. I would not I would not do it if I was part of his family. It’s almost like he doesn’t have any pride and not only that, he should just take longer to pay off his debt if he insist that she continue to go instead of asking for donations. It’s ridiculous and this is exactly what the sense of entitlement got him into the situation in the first place.
@CAGChannel1
5 сағат бұрын
Grandkids - you might see someday. It’s different.
@kingsgold
3 сағат бұрын
most do it for the benefit of the kid, not the parents. parents already feel bad and are working hard to fix their financial situation. and as he said.. it's only the first year they are helping with. So not like the parents are relying on the generosity for too long. They do want to pay for the school long term, just need to get rid of the CC debt and build better financial habits.
@MissGirl1450
2 сағат бұрын
@@kingsgold I'd believe that but they insist on keeping their maid and pool service so it's not like they're living a tough life.
@saynay333
Сағат бұрын
@@MissGirl1450Right. It would be different if they were really struggling to make ends meet, but at $300k they have plenty of ends to meet 😂
@aditiseshadri6560
9 сағат бұрын
Ramit with CSP #3, kets get a shovel and machete😅😅😅😅
@ashwinsridharan9834
4 сағат бұрын
Yikes CSP 3. We cut mercilessly, have a 2k credit card payment, but also budge $500 for vacation. WUT
@funtechu
5 сағат бұрын
The second person feels like a YNABer. Purposeful planning for "true expenses".
@pioneer7777777
5 сағат бұрын
The 20% down advice differs significantly from person to person. I think its overall better to get in sooner on a nicer house than wait to save up for a larger down payment. And that's coming from someone that did put down 20%. We would have been better off putting down 10% and getting a nicer house honestly.
@waddles7503
3 сағат бұрын
For 1st couple, also possible Megan banked her income before she became a stay at home mom, allowing them to accumulate a large sum.
@klt9874
7 сағат бұрын
lol!! That was our vacations too! We would drive from Louisiana to Los Angeles to visit and stay with family and food was packed for the trip. Lol
@vulpixelful
3 сағат бұрын
We brought our own food even in the rare times we went to an actual amusement park. We shut down those canopied picnic table areas 😂
@pirateslife4me
2 сағат бұрын
It's because of my love for my kids, not in spite of, that I've applied discipline and rigor to instilling my kids' belief in their abilities and strength to create a great life for themselves, knowing I'll always have their six. Following my parents' examples, I've been able to discipline myself to support, teach and comfort rather than rescue, usurp and sabotage. They've grown into it beautifully, and on their own power!
@shirleyfgfgh7082
3 сағат бұрын
Katie is goals. Bravo!
@amesasw
4 сағат бұрын
I feel like the goal should rarely be early retirement and rather freedom to work any job regardless of pay level or risk. And most work will pay you something.
@vulpixelful
3 сағат бұрын
That third couple must have things they can sell if they were overspending by 5k a month. Can't take vacations all the time 😂 They probably have the house staff because their house and lawn is too big to clean and maintain on their own. Something to consider when you get a big house in a neighborhood that demands perfect curb appeal 🤷🏾♀️
@makayla4292
4 сағат бұрын
….. for the girl saving for a house in Portland. She already has $30K and she’s saving $12k per year so in 5yrs she’ll have $90K so she’s actually fine for a 20% down?
@makayla4292
4 сағат бұрын
and she also said she’d be splitting the mortgage with a partner
@rollypoli5570
3 сағат бұрын
Yeah I feel like he missed the 5 years thing. But he had a point on trying to go to 40 hours a week and upping income so that the monthly is not as hard to achieve
@vulpixelful
3 сағат бұрын
Buying the house and maintaining the house are two different things. Portland has a high cost of living, it wouldn't have been responsible to say that she was ready to buy a house there with part-time income in an unstable field.
@LadyBunique
3 сағат бұрын
I noticed that too, he kept missing the fact that she plans to safe for the next 5 years
@kevin9795
6 сағат бұрын
Thanks for doing this, these are well selected CSP! I think overspenders (those who spend 70%+ on fixed costs) are a bit over represented in the past CSP review videos, so it's refreshing to see the CSP#1 & 2 in this video! Looking forward for more content
@SuperTikes
4 сағат бұрын
My guess is that those who know they're deeply in debt and overspending are more likely to send in a CSP for review than someone with zero debt, frugal lifestyle, who's doing quite well financially.
@cloudyskyss
Сағат бұрын
That made me laugh out loud so hard. My vacations growing up were exactly the same. Mom packed a cooler for lunch so our family could eat at rest areas on the side of the road on our way down to LA to stay with family. Thanks for keeping it real Ramit!
@altyacke
3 сағат бұрын
In Katie's CSP, saving $1,000 a month she could totally get to that 20% down payment in 5 years, which was her goal. Not doing it today. $12,000/yr adds up quick in just a few years.
@kickaplan
2 сағат бұрын
I was hoping someone else would pick up on this. Surprised Ramit didn't account for how much she'd save towards the down payment in 5 years.
@funtechu
2 сағат бұрын
@@kickaplan Yep, I had a spreadsheet that I used for this purpose back when I was saving to buy a house. It factored in my savings, real estate average appreciation in the area, and return on house savings account. Let's you project out and see how many years until you can achieve that goal.
@Iykykbruh
45 минут бұрын
She would have enough for the downpayment, but she would also need to factor in moving cost, lawyer fees, furniture, etc. AND THEN also be able to sustain the mortgage, utilities etc. She can buy it, but she can’t afford it (again, all based on the assumption the home is 400k).
@funtechu
41 минут бұрын
@@Iykykbruh She's already also saving up for moving costs.
@firststar2
3 сағат бұрын
I would love for my parents to stop calling me for a few bucks here and there. Parents take care of yourself. Hight incomes are not guaranteed in your children's future
@Tammy.822
7 сағат бұрын
Not convinced the last couple will change much, especially since their "transparency" led to their families helping fund the schooling.
@ntimn8r
54 минут бұрын
Quick note on Katie's plan to purchase the house, her CSP still showed only $60 for utilities. When you buy your own home, you'll be possibly expanding the amount you pay for utilities by up to like 4 times what you would pay renting. Things like garbage, water, security systems, and HOA fees, are something to highly consider.
@Nasherrrzzz
5 сағат бұрын
Re retirement, your assets do not stop growing once you retire, it will grow, so in reality you can tactically rely on the growth, utilising a several year income buffer
@SuperTikes
4 сағат бұрын
Exactly
@jecht86
9 сағат бұрын
That first couple absolutely had a windfall. They paid off their mortgage and put the rest in a brokerage. Edit: That 600k asset is their house. Potentially a car.. It kind of annoys me to say they are "on track" to retire early when it was most likely not their effort that put them "on track". I'd did consider that one of them had just stopped working all together and they had a really good job. But that sounds less realistic than a wwindfall, especially at their age.
@frankjenkins5075
9 сағат бұрын
I’m thinking the same thing. They were already on track with sound habits and a windfall of cash allowed them to become debt free with some money leftover.
@delita1500
8 сағат бұрын
agree, trust fund kids.
@aarondavis6174
7 сағат бұрын
And it's their fault they had a windfall? Anyone could use advice
@SpaceCase47
7 сағат бұрын
Just wanted attention and a pat on the head.
@mjf5049
7 сағат бұрын
That’s not true. Wife and I are almost exactly the same as CSP#1. We didn’t inherit anything and I doubt they did either. Tons of work early and then I quit my $140k-year job for my side hustle and wife went part time. Our income is cut in half now to about $110k but the assets keep growing. 37 and 32 years old. The assumption is always a windfall unfortunately.
@MissGirl1450
2 сағат бұрын
So Conrad's plan is to have his family fund his child's education so they can keep a pool and a maid service. Sounds good. I want to fly on Delta Plus to Europe so I'll ask my retired mom to pay my mortgage. Talk about financial independence.
@EnaEnrriques
Минут бұрын
My wife and I used to live frugally on $65k/year in upstate South Carolina. We had older vehicles that are paid off, our 3-bed, 2-bath house cost $145k, and we avoid major subscription services. Until Abby Joseph Cohen, our financial advisor, started managing our investment portfolio and made us see the need for professional advice. Now it seems as we grow older, we grow wealthier. Complex strategies for managing retirement investments during meltdowns aren't something the average person understands, but Abby’s expertise has been a game-changer for us.
@savagegentleman3583
2 сағат бұрын
We are all humans and have our problems. CSP # 3 was concerning and I can see how lifestyle creep and “competing with the neighbors” happen, especially in a high-end area that they likely live. They likely felt that they had to live that way in order to fit in with their surroundings. The wild part is their small grocery service bill. That seems crazy given their position and how carelessly they spend; I bet that they spend a lot more on food than that. Lastly, there's no way as man that I could accept money for my children’s education from family when my wife and I make nearly $350k a year. Sorry, it’s a pride and honor thing for me. Good luck to them, however.
@9globalize
9 сағат бұрын
Best episodes
@user-lm1pp5sc6g
2 сағат бұрын
The second CSP will not be able to buy a home in Portland Oregon for $400,000 unless they buy an absolute money pit. A lot of the homes in Portland are very old. I’m not kidding. Also Katie, the rental market in Portland is extremely unstable. Vancouver, Wa only minutes across the river might be slightly better. However I can tell you from experience living in Vancouver, WA and working in Portland sucks financially. Oregon will make you pay income tax (even if you’re a WA resident) and what should be a 15 drive could easily be 90min. WA doesn’t have income tax if you work in WA. Also I think Oregon is in the top 10 for property taxes. Just some food for thought. Vancouver definitely isn’t Portland, but lots of Portland folks have moved here and it’s growing super fast. If you live close to the border you can easily shop tax free in Oregon which is also very helpful.
@RichardOwens-i5n
6 сағат бұрын
Your videos always make a difference!
@PSmith-ie9jx
8 сағат бұрын
Couple one, these people know damn well that if they have 1.6 million at 36 years old they can retire early. Frustrating.
@shirleyfgfgh7082
8 сағат бұрын
Yeah I feel like they sent their CSP to flex that they are already in a good position 😅
@SuperTikes
4 сағат бұрын
Nah, just check Ramit's response. He made it seem as if they'd have to do some sorcery or change their lifestyle.
@PSmith-ie9jx
3 сағат бұрын
They're frugal and need much less than their income, he's grasping at straws to have them think deeply, but in 10 years, their investments will double even if they don't put in another cent.
@suburiboy
7 сағат бұрын
#3 learned nothing.
@khairyjones4607
2 сағат бұрын
Whoever edits your videos is top class!
@phykios
38 минут бұрын
The reactions to the SCP #3 was mad funny LMAO. People really out here making outrageous financial decisions
@NicoleJurek488
2 сағат бұрын
I like seeing these videos with all income levels, it's interesting to think about your own lifestyle choices.
@buyerclub2
4 сағат бұрын
Only watched the first one, I KNOW several ways besides inheritance. Two I will mention now. He worked for a company that went public and their ESO came woth a lot. Second, he may hve invested in a "hyper grothh stock. (risky, unless you know alot about the industry you were invested in., and a third potential is of course a gambling win. What ever it was, they were smart and didnt spend it at their age, and applied the funds towards investing. I know. I also had about that much at their age.
@soumyajeetchakrabarty6872
7 сағат бұрын
This has been very very insightful
@coya8coy175
5 сағат бұрын
Really envious of the low fixed costs. I’m at about 50% now, but hoping to decrease that as my income increases over the years. Unfortunately health issues keep my grocery and skincare costs higher than I’d like.
@katyalafon9006
7 сағат бұрын
It would be great a special single parent medium to low class review. But maybe, like me they are to shy to share their numbers 😅
@FunStuffBuddy
5 сағат бұрын
Was there a follow-up video for CSP #1? Time stamp? 🚨
@MattsGamblingSlots
2 сағат бұрын
"Broken Finances" Them also: Net worth is around $1 million before 45.
@ltgemini1599
7 сағат бұрын
I really like these videos.
@WeyermannX
5 сағат бұрын
Couple 1 won't have to decrease lifestyle because currently 11% is going to fund retirement which is no longer happening, so the could easily make it on 3-3.2% withdrawal rate. Also, I guess it depends on how their money will be taxes in retirement vs now - it may be more favorable in retirement if a part of the that money is tax sheltered in a roth IRA, again meaning they would need less in retirement than now
@donatelloslappafello1108
7 сағат бұрын
Trips me out when i see these 300k plus incomes having trouble. I get it people spend too much, but it takes effort to have trouble with a 300k income. God forbid they come down to earth for a little while and save for a couple years. 300k with maids and all that is hilarious. Maybe they live in alabama or something, but 300k family income where i live in norcal is not a luxury lifestyle with maids and poolboys at the cabana fanning you with palmfronds level lifestyle at all haha.
@stephaniesmith6880
4 сағат бұрын
Hey Ramit! I notice you sometimes call out folks for having "low savings" relative to investments - how much in savings is "enough"? Is it fair to say that if we have 6 months of fixed costs and any specific upcoming expenses (i.e. wedding, new car) then we are all set, and should happily put all $ to investments?
@aliali-ce3yf
3 сағат бұрын
don't forget auto insurance rates are going insane
@cocodigweed
8 сағат бұрын
In CSP #1, yes could be in part to inheritance or a settlement, but I'm surprised you neglected to mention there's a good chance they were DINKs for awhile. It's not likely their current savings rate is as high as it was prior to kids.
@srajguru87
7 сағат бұрын
What's a DINK?
@nancyklingler1335
7 сағат бұрын
@@srajguru87 Double income no kids
@srajguru87
7 сағат бұрын
@@nancyklingler1335 ahh I wish I could go back to that life and do things a little bit differently 😭😂
@annecharlotte757
8 сағат бұрын
J'ai adoré la vidéo, hyper intéressant !
@roburb73
Сағат бұрын
As a household who earns $350k annually, I was shocked to see $50k CC debt. They seen open to make some changes, and that's good. I wonder if they immigrated to the US. I say that because most of my friends from Asia or Latin American countries focus heavily on ensuring their kids' life take priority over theirs. I thought the young lady earning a low to middle income was extremely focused on what she wants. After hearing her response, I have little doubt she will achieve her goals, regardless of how long it takes.
@joggypaster8959
4 сағат бұрын
At $1000/ month, she would need to save for 50 months, which is 4 years 2 months, which is less than her timeline of 5 years and I dont know whether or not you took the down payment fund out of it.
@thorin01
3 сағат бұрын
I live in the Portland area work full time and I can’t afford to buy a house.
@vulpixelful
3 сағат бұрын
Yes, I respect Katie's attitude, but I don't think buying a home in Portland is _currently_ realistic for her. But a lot an change in a few years.
@Ferdinand208
7 сағат бұрын
We can see your priorities through your spending. If you have a big income but there is no money left for education... Other things were more important than the education. Otherwise that would have been the first thing you save from your income.
@ToddVenable
6 сағат бұрын
These videos are fantastic. The response from Conrad to CSP #3 makes me want to vomit.
@28cthedestroyer
8 сағат бұрын
I honestly know your team does try but it still does seem like your covering people with just higher incomes
@kemi1486
7 сағат бұрын
Katie didn’t have a high income.
@28cthedestroyer
7 сағат бұрын
@kemi1486 that's one person I'm talking about the average of them are.. I go out my way to like everyone of his videos, I love what he does just you can never improve unless you have people telling you things. I can tell he already does more like you said so props to him, but like I said just stating an opinion
@justeder01
5 сағат бұрын
Mumbles something about how the way you feel about money is highly uncorrelated with the amount of money you have 😂
@chrisbaker2669
4 сағат бұрын
One thing to ask every guest is what bank are you banking with and where are you saving your money and what you are investing in?
@EnaEnrriques
2 минут бұрын
You spoil us Ramit! I've digested a plethora of personal finance oriented channels here on KZitem over the years and the only two that I can still stomach are you and Erin. You give the very best and spot on advice and ask thought provoking and unbiased questions that help listeners like myself become better. More importantly, thank you for recommending Abby Joseph Cohen Services my investment portfolio with her has been quite sustaining
@Rashaadthegr8
5 сағат бұрын
Jesus almost a million in debt and still a millionaire? That house must be in Beverly hills with two doctors.
@charco8894
4 сағат бұрын
Best video ever. Lol makes me wonder what do you take shots of when Fixing Subscribers' Broken Finances 😂 Got Jokes 🎤
@thunderjolt69
8 сағат бұрын
Ahh the bots in the comments
@virajrathodd
3 сағат бұрын
where is the follow up from the 1st couple?
@Happymavishappy
5 сағат бұрын
Pools are so expensive. We spend so much on the chemicals, the labor, the equipment. Sigh.
@Silidons91
2 сағат бұрын
$1m invested at mid 30s, stay at home wife, plus a kid...mommy and daddy helped.
@nathansmith5726
6 сағат бұрын
Oh yay another couple making 333k USD a year.... can you please use something realistic like 80k-150k
@_Daavie_
6 сағат бұрын
My thoughts exactly. Nobody wants to see stuff like the first couple. They are concerned if they are on track for retirement but have a net value of 1.6 million. Give me a break. Only an idiot would think they weren't on track.
@Sperinator
3 сағат бұрын
For CSP #2, she currently has $30k saved for her downpayment and has 5 more years of saving $12k/year, which would bring her downpayment amount to $90,000!
@VyseFIRE
3 сағат бұрын
Thanks ramit for sharing! have a great day.
@bnoc
2 сағат бұрын
3rd people aint changing anything
@durial702
Сағат бұрын
For #2 she said she'd still be splitting housing expenses with her partner in Portland, but your analysis assumed she wouldn't
@KiingM
Сағат бұрын
Making $333000 and need family help?! What?!?!?! The inability to say no is wild.
@MsJai_1
45 минут бұрын
I really hope that after his 2025 new book release, maybe closer to 2026, Ramit will place additional focus on his widowed, single and/or divorced subscribers, like those in this video.
@marketbeans
5 минут бұрын
In the 3rd CSP could Ramit not see the 900 dollars in utility costs ??? That’s a really high number
@jdp486
4 сағат бұрын
CSP #1: I would guess this FIRE couple has been maxing out their Roth 401ks since their early or mid 20s. That comes out before the net income you ask for, and the investments you see on the CSP are probably brokerage or IRA. You didn't say their kids' ages, so they may have had 2 incomes until recently.
@rebeltheharem7028
2 сағат бұрын
Wow, first person has over 900K in investments and 600K in assets and they only make 88K a year after taxes, and they are only 36? I'm guess they got either very lucky or got lots of money from family (or trust funds). Because that would assume they saved all of their income for 17 years straight to get that much. I mean, it could also mean one of them make a super high salary before getting fired/quitting. But dayum, that's way to much to have only been accumulated with a ~115K a year job. They were definitely trust fund babies.
@GratefulTurtle
2 сағат бұрын
The second person Katie's fix costs don't look like a realistic possibility.... $550 for rent is REALLY low even if someone DOES have a partner to split with but def not if you don't (unless you can live with 100 roommates) and with 150 for groceries i am guessing she eats lunch and dinner at work because how could this be possible otherwise??? HOW!!! I am very curious where she is living and how she can eat.... I live in rent-regulated student housing which is $1000 & am also pretty frugally but i spend about $400 a month on groceries.
@Ayaya787
6 сағат бұрын
I just wonder what the R/R ratio of 50k/yr private school. Are you banking on your child being so miraculously brilliant they become a top 5% income earner. How does the return compare to University tuition?
@CAGChannel1
5 сағат бұрын
Go look at public school today in so many places - even so called nice areas. It’s not like previous generations. Scary
@mjf5049
7 сағат бұрын
Wife and I are almost exactly the same as CSP#1. We didn’t inherit anything and I doubt they did either. Tons of work early and then I quit my $140k-year job for my side hustle and wife went part time. Our income is cut in half now to about $110k but the assets keep growing. 37 and 32 years old. The assumption is always a windfall unfortunately.
@Trudloops
3 сағат бұрын
For Katie, perhaps Ramit could consider a Tiny house? It would be cheaper than a starter home.
@MissGirl1450
2 сағат бұрын
I thought about this but then you have to have land to put it on and utilities to hook up to. Are you buying the land, which comes with taxes or are you using someone else's. Then you're at their mercy. You can sometimes park them in an RV park but then those get pricey and hard to come by.
@MONI-bj1ms
2 сағат бұрын
Tiny houses have no resale value
@43DW
4 сағат бұрын
What calculator is he using
@NaturallySharri
6 сағат бұрын
She said her partner would pay half so it would be 1,500.
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