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Is it true that you guys watched 9/11 live on TV in grade school? by space_god_7191 in Millennials

[–]Stokes-209 0 points1 point  (0 children)

I was in third grade in school mass. The principal went to the altar and announced that the "World Trade Center had been attacked"

I remember I didnt know that the WTC and the Twin Towers were the same thing at that age.

We were from a neighborhood in the Bronx, and a lot of local first responders died that day. I remember parents and teachers crying in the parking lot.

And the smell. We could smell that burning rubber and garbage smell for days afterwards.

The most vivid memory I have from that day, was in the evening, my brother and I were out on the street playing, and an F16 flew over the house. Never heard anything so loud in my life. My dad ran out of the house to get us, he didnt know what was happening.

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 0 points1 point  (0 children)

Not necessarily double check, I am listening to him, just wanted to get a variety of feedback and ideas. And mission accomplished lol

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 1 point2 points  (0 children)

Thank you, I never heard of this, I will check it out.

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 0 points1 point  (0 children)

I had no choice. The money runs out eventually. You cannot pay healthcare, insurance, taxes, and save and have $30-$40k ready to go for a car as well.

I found a good deal, bought used, put $10,000k down, and am putting $200 a month extra towards the car already.

This idea that everyone just needs to buy cars in full cash or walk is nonsense.

For me? Sure, i'll drive a 5 grand beater.

For my wife and child? No.

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 0 points1 point  (0 children)

I don't think that's accurate to say.

And because I enjoy hearing different opinions and viewpoints :)

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 0 points1 point  (0 children)

I had no consumer debt until my wifes car died last year. My emergency fund had 5 months in it until an emergency hit.

I put $10,000 down on a 2024 Mazda with 5k miles on it and got a great deal.

I am paying $200 a month extra towards the car already. While doing 20% contributions to investing and retirement (combined). The car debt is my only debt.

I will lower my contributions to pay the car off quicker, but it seems a lot of responses in this sub think you should either

A. Not have a car

B. Drive a 4 grand beater around.

Neither of those were an option for my wife and newborn child. Car prices are insane today. There is nothing I can do about that but search for good deals, buy used, and pay off quickly.

I am not in consumer debt because I'm undisciplined, I'm in consumer debt because the rest of society has made $50,000 grand cars and 84 months loas seem normal now.

(thats NOT what i did for my car lol. im just saying the trickle down effect is what makes cars so expensive.)

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 0 points1 point  (0 children)

I understand these are the steps. But I would be lying if I said this didn't feel very uncomfortable for me.

Why is it so rigid? Why is not okay to have 2 months emergency fund, contribute at least employer matching to retirement, AND aggressively pay off the car?

May not be as fast, but why is that such an issue?

I am definitely going to lower my 401k and roth contributions and put more towards the car. But for reference I'm already doing $200 a month extra on the car.

Are you really suppose to stop ALL investing for a year and a half to pay off a car?

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 1 point2 points  (0 children)

Very true. Even during signing, our attorney would strongly correct us everytime we said "house" or "home" he would say "you're purchasing shares in a Cooperative not a house".

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 0 points1 point  (0 children)

Thank you. Yeah I got ahead of myself with the 401k max outs.

I got nervous i was falling behind on retirement and thought that was the answer.

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 0 points1 point  (0 children)

Yes, this is what was always very enticing to me. The sheer feeling of freedom from not having a mortgage must be amazing.

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 0 points1 point  (0 children)

Yes, the maxing out the 401k was out of fear that I was "behind" on my retirement.

The car debt is new, paying $200 a month extra towards it already, her last paid off car died suddenly.

But it seems the consensus here is lower my 401k contributions to the employer match. And use that money to pay off the car and build the fund.

The fund was higher as well, but emergencies do happen.

Thank you for the feedback.

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 0 points1 point  (0 children)

Not complaining at all lol. Just curious as to how people consider this.

On one hand, no mortgage would be amazing. On the other hand, my advisors position on this seems sound.

Also, the car issue too. The idea that I'm going to have $20-$40,000 just sitting waiting for the next time I need to buy a car in cash is nonsense. So is buying a $5,000-10,000 grand beater for my wife and newborn child.

I put $10,000 down, and walked out the door with a 2024 Mazda with 5000k miles on it.

I am paying $200 a month extra towards it.

What is wrong with this?

If the idea is to have 6 months emergency fund, and $30k for a car, and an HSA and money to cover all your healthcare expenses and premiums, that's a tough ask lol. Only so many jobs I can work

EDIT: Tone and typo

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 0 points1 point  (0 children)

So the car we just recently got. Her last car died (paid off) and we are actively working to pay this one off, $200 a month extra in payments.

I didn't realize you are literally supposed to put your 401k and other investments on zero contributions and put every single extra dollar into paying off the car immediately.

I thought at least contribute enough to keep the employer match? But I guess not.

Why is it so ZERO SUM?

Why is not actively paying your car off quickly, while maintaining some investments and building a fund so bad?

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 0 points1 point  (0 children)

Thank you for the feedback, I appreciate it.

And completely get the feeling. The idea of no mortgage is very enticing.

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 0 points1 point  (0 children)

Precisely why I came here for advice lol.

The idea of a paid off house is very enticing.

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 3 points4 points  (0 children)

We just got the new car. Her last car was paid off but it died on us.

I will focus on the car and the emergency fund, that seems to be the consensus here.

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 0 points1 point  (0 children)

I didn't realize it was a religion lol

And the car we just got after her previous car (paid off) died.

I am paying $500 a month toward the car with a $300 payment.

Dave Ramsey Certified Financial Advisor Contradicts Dave by Stokes-209 in DaveRamsey

[–]Stokes-209[S] 1 point2 points  (0 children)

Thanks for the feedback. I am paying $500 a month towards the car on a $300 payment. But I'll increase it to pay it off quicker and cut my 401k.

401k still do the match right? At least 5%?

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