Chapter
Building a House on a Variable Rate Construction Loan
13:16 - 21:26 (08:09)
Ramsey Solutions recommends keeping monthly mortgage payment less than 25% of take-home pay and having cash set aside for an emergency fund, even when taking out a construction loan. It's important to get multiple bids and talk to multiple builders when considering building a house, and the variable rate on construction loans may cause uncertainty during the building process.
Clips
The majority of millennials are not adequately saving for retirement, with a recent stat indicating that 75% won't have enough saved.
13:16 - 14:26 (01:09)
Summary
The majority of millennials are not adequately saving for retirement, with a recent stat indicating that 75% won't have enough saved. Even teenagers and those in their 20s are starting to worry about their ability to retire comfortably.
ChapterBuilding a House on a Variable Rate Construction Loan
EpisodeCan I Catch Up on Investing if I Started Late? (Hour 1)
PodcastThe Ramsey Show
The host advises a listener on whether to sell their current house and take a $120,000 loan to build their dream house.
14:26 - 18:11 (03:45)
Summary
The host advises a listener on whether to sell their current house and take a $120,000 loan to build their dream house. The host recommends that the listener follow the Ramsey principles of keeping their monthly mortgage payments less than 25% of their salary and having enough cash set aside for an emergency fund.
ChapterBuilding a House on a Variable Rate Construction Loan
EpisodeCan I Catch Up on Investing if I Started Late? (Hour 1)
PodcastThe Ramsey Show
The podcast provides tips on how to reduce the anxiety associated with building and renovation of homes.
18:11 - 18:57 (00:45)
Summary
The podcast provides tips on how to reduce the anxiety associated with building and renovation of homes. The key points include being debt-free, having a set budget, and taking time to save up money.
ChapterBuilding a House on a Variable Rate Construction Loan
EpisodeCan I Catch Up on Investing if I Started Late? (Hour 1)
PodcastThe Ramsey Show
The host reflects on the pros and cons of social media and its impact on our awareness of various aspects of life including money.
18:57 - 21:26 (02:28)
Summary
The host reflects on the pros and cons of social media and its impact on our awareness of various aspects of life including money. Social media has a significant impact on the financial health of individuals as it provides insight into different money management aspects.