Riley

Hi, thank you for having me. So here's my question. Would a budget of $20,000 be unreasonable as a college student?

For $20,000.

To get married, to have a wedding. Oh, a wedding.

Yes.

Oh, well, congratulations.

Um, we're hoping to get married by 2027. We kind of have to, um, to be stationed together as Naval officers, since we're both commissioning after 2028.

So we have to get married right before we graduate since we're both in NROTC. Our requirement is that we commission straight out of graduation. And you graduate May of 27th? Yes. So we have to be married that summer because it'd be kind of hard to plan a wedding when we're away from home. Sure.

We are, um, he's earning more than I am. I'm currently just getting a stipend. So that's about two 50 a month. Um, it'll increase slowly. So by my senior year, I'll be getting 400 a month. Um, he's getting that as well and working. Um, I think his annual income, he's trying to hit under 15,000 just so that he can, um, stay under a certain.

Uh, yes. Um, So him and I will be paying for the wedding, but my parents are going to be giving another 5K by the time I get to my junior year. Will you guys have $20,000 saved? Oh, absolutely. Currently, we both have combined a little over $30,000.

Like total. Where'd you get that? Not just for the wedding.

So that's just from savings throughout my lifetime. I'm a huge saver.

We'll both be making about straight out, I think it's about $90,000. Each? Yes. Yes.

Um, so our deployments could be at different times. They try to keep us on the same base, but since we're both college students and under the program, there is a chance that for a year or two that we would be on different bases.

but we're trying to prevent it as quick as possible.

Yes, sir.

Yes, sir.

I agree. That was why I called. You're a saver.

Yeah, absolutely, no doubt.

Hi, doing well.

Lexington, Kentucky.

Thank you.

We paid off $65,767. Excellent. How long did that take you? 16 months. Good for you.

$75,000 was our starting, and then $90,000 is where we ended up.

I'm a speech therapist.

I'm 27.

It'll be two years in June.

Yes, sir.

I'm a natural spender, so it was definitely his push, but I mean, we're unified in marriage, so we're going to be unified in paying this debt off, and so that's what we did.

Oh, absolutely.

Yeah. And we see how it'll impact our marriage and our family for years to come. I mean.

Because the car is almost as old as I am.

It's true.

Yeah, they all have payments. I just had to remind myself this is paid off. We don't owe anything on it.

Yeah, exactly.

It's a 2005 Honda Accord, and it gets me from point A to point B. Does it have a name?

It doesn't, but we should name it something.

There you go.

And, Dave, you were a common name in my family growing up, so I grew up hearing about you and knowing, like, you need to get on that Dave Ramsey plan. Like, you need to go through the baby steps.

Hey, what's going on?

Um, so I am 28 years old. My wife is 31. Uh, she's a stay at home mom. We have two sons, five and three years old. Um, I am, we are on baby six, six, by the way. Um, we are in the middle of a debacle with our budget. I'm trying to make sure I free up enough fun money for her because obviously staying at home is, um,

staying at home it's absolutely miserable for the mother um it's great that she can do that but it is very tough on her and so i want to make sure that i leave enough aside in our budget for her to have fun as well as continue to save you know for our retirement and everything everything else we're doing 15 like it's like we're supposed to into roth ira i have a pension a union pension and then i have a simple ira that i get three percent match on through my employer

I grow $70,000 a year. Now, I want to put $200 a month per son into a money market, maybe, I don't know, to save for them to have a down payment on a house. With the way that house prices are increasing, I am scared they're going to not have enough capital to be able to buy as young as I was able to. And I don't think...

I don't know if the money market is a better router to put it in our Roth IRA and just pull out contributions when that time comes. I'm trying to avoid gift tax and all this other stuff for them to try to make it as streamlined as possible. And you guys can tell me what you think, because $400 a month is $83,000, some change after 18 years. So I'm a little conflicted as to what to do.

No. It's like they put on Barry White.

I'm a lot.

Yeah. I just come from a lot of like my parents just got divorced last year. I know. 28 years of marriage.

No, I opted to not do like a 529 or something like that. I suppose I could still do that and then roll it over into IRA if I got to that point down the road. Well, let me play this out for you.

No, no. I just I know this guy. I don't want to force him to go to college and stuff. You know what I mean? Like, there's no forcing.

A taxable brokerage account?

No, I would give her way more than that. Hold on.

Yes. Okay. Yes, sir. Yes, sir. It's our money. I'm sorry. I misspoke on that. Okay, good. Anyway. I accept your apology. Yeah, no. Yeah. What's the number? Is it $100? Is it $400? We are ironing out. This is literally our first month of being in Baby Step 6.

No.

Well, there's there's no accounting for taste. Yeah. But I'm glad I'm glad.

I feel like that would be your type if you dated black girls.

What is, I mean...

What does she look like? Like, describe.

Like Coke bottle shape.

God damn. What type of fucking guy waves? See, that's going to turn black women off. I know. You don't do that shit. You got to be a little bit gangster. You got to be straight up. They want straightforward, especially coming from you. You know what I'm saying? One of our white brothers in the community. I think more black women want you to be, you got to be more assertive.

Not too much because you know how y'all get. Yeah, yeah.

We ain't doing none of that.

You get what I'm saying?

Like, yeah.

None of that going back to the 1800s bullshit.

I'm a Colonel of this motherfucking tank.

Yeah, I did. They let me bring my katana in. What kind of shoes did you wear? Close-toed, obviously. I know this, anybody.

Well, fuck yeah. Well, that's the one exception. I think Jimmy Buffett could wear thongs to the child's birth, I think. Well, what are you supposed to wear? Like, oh, I was saying, I pulled her right out. No way you did. By the head, I did. I got gloved up. And they let you do it? There's not somebody there? Is there a lifeguard or something? Well, I don't know. My doctor was such a baller.

And is the mom awake during this? Yes, sir. Okay. She's full awake. She's not on her phone or anything, is she? Dude, she's on Clash of Clans.

Yeah, that music is crazy. You're gonna scare the fuck out of these people.

Come on.

The song about Eric Clapton's son dying.

Yeah. That's the song you would play while the guy was getting me. It's about his fucking son falling out of a window.

Bing, bing, bong, bing, bing. Would you know my name?

That's where you find bullets in video games.

They're back. They're happening right now. My buddy to this day is – He's big into Christmas houses. No rent. Rent isn't much. The tenants don't make much noise.

That's pretty insulting.

I took this girl home from the bar the other night. I just, someone caught me, you know. It was just different, something different about her, you know. She was kind of shy, but I liked her. So I got her home, and when we pulled her pants off, she had nipples on her butt cheeks, man. It was so strange. I didn't know how to feel about it.

Well, I went fishing once when I was an intern in New York City and I first moved here. And well, actually, I didn't go fishing, but I went to the fish market and it was disgusting. So I get it.

Well, maybe this is what I meant to do for the rest of my life.

You know what? She's just playing Cheerios.