Should I Really Pay Cash For A House?

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Title	:	Should I Really Pay Cash For A House?
Lasting	:	6.37
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Views	:	475 rb

This answer isnt very helpful A survey doesnt tell us the why and what buying a house w cash does vs investing in some other way Hell the comments are more helpful
Comment from : liono

Hahahah! Try this in Australia Houses in my area start at $2m By the time you can save $2m, those houses would be worth $6m
Comment from : Drobe of War

Closing costs effectively double your interest rate If you sell your house before it's paid off, amortization also dramatically increases your effective interest rate That crazy low 3-4 or whatever you think you're getting isn't remotely close to the actual cost of a mortgage It actually kind of annoys me that Dave never mentions these two things He just calls you an idiot if you don't agree with him
Comment from : Thurgor Supreme

People should very wary not to conflate correlation with causation here People who are millionaires are more likely to make enough money to pay off their houses Paying off their houses is likely not what caused them to become millionaires I make this point because paying off a house with a much lower interest rate than the average market index return doesn’t make financial sense
Comment from : Rayce Wiggins

There's gotta be an easier way for me to learn all this crap, this stuff makes no sense
Comment from : Ampwich

Also why does he talk about millionaires as if that makes you some sort of crazy rich person Being a millionare at retirement, you may have 1M invested, but if you take out 4, thats $40,000 per year and you are literally living in poverty
Comment from : Luke Sammann

this is complete nonsense I not only know many very wealthy people who keep low interest rate mortgages and invest I also ran the numbers and it is astonishing how bad of a decision it would be to pay cash or pay off the mortgage early
Comment from : Luke Sammann

The average home in Massachusetts is 568,000 Good luck buying that with cash lol brI got my house for 470 this year WITH DEBT because living in a 500 sqft apartment for 15 years to save up to buy a house that is constantly inflating is a “dumb butt idea”
Comment from : joe vasconcelos

Wow, talk about Ramsey doing the bandwagon fallacy: "Well, rich people do X, so therefore they are right" Rich people also eat out at 5-star restaurants and pay for $300 steaks Does that mean I should do it too? He actually gave no mathematical proof that paying for a house in cash beats higher returns in the stock market
Comment from : Abe Sapien

Same thing with me Im unsure whether to pay my house off or use it for another house investment but i just look round me at the wealth and they all own their properties and assets that earn cash
Comment from : Lewis Thompson

Millionaires can say whatever they want, but there's one thing I trust more than millionaires (and this Ramsey guy), and that's math Math it out, its easy Don't take all this fluffy "it feels so good to be debt free" bull jive Math it out, math wins, not your feelings
Comment from : szargos

It must be taken into account that home prices have dramatically increased in recent years, it’s one thing for a 60yr old millionaire to pay off their house in 2008 when it was $200k, when that same house is 1mil today it would seem different That money could make you millions in the amount of time it would take to pay off that mortgage It really just depends on your particular financial situation/age/interest rates It’s not a one size fits all issue
Comment from : These Endless Nights

Late to the game on this video but I’m 21 and am about to buy my first house in full :) it’s gonna be the best decision I’ve ever made
Comment from : Lily Claire

King Ramsey !!!! Love this guy
Comment from : Gio

That’s funny…you say you OWN everything you have but at the same token say I am not going to ever worry about making payments on your warehouse Funny stuff
Comment from : Gonegolfn

But did these millionaires take all of their money (except emergency $ and retirement accounts) and pay down their mortgage or did they retain existing investments and just speed up payments using $ from their cash flow?
Comment from : Bob Needham

At 37 years old my husband and I built our house in cash - it took five years total and I can’t even tell you how amazing it is Imagine living life with no financial risk, there is zero stress
Comment from : Christine Rudd

I have my house payed off, but what is your advice regarding to buy a second house as an invesment, should I buy it with my own money or buy a bigger house with my 100 of my own money plus a loan?
Comment from : Wilfredo Mancia

78 year old millionaires 🤣🤣🤣 how about surveying millionaires that still have their original teeth and ask what they do
Comment from : Nultari

Thank you for the content, it really makes a difference
Comment from : Jade Van Der Walt

Can you buy a house in full with out getting a mortgage? And will they run a background check if you completely pay for the house without a mortgage?
Comment from : Cloud Numbers

my house is paid for, have an oportunity to get purchase another house reasonable, but should i put a mortgage out there, or do a 5-year loan on my retirement and pay cash for the house?
Comment from : Leo

Ramsey is the man
Comment from : El_mexicano

Update: Jack didn’t pay off his house He’s sad now
Comment from : Blake Wertz

I personally prefer paying cash than mortgage
Comment from : Leo Garswah

Just decide to buy home cash I work prn and travel work as Respiratory Therapist So I don’t have an actual full time job In order to get a home loan I have to go full time at my job Not interested in that
Comment from : Tracey Lomax

LOL Dave talks about data points and always looking at the data, and yet he says the vaccine isn't real even though there are is tons of data backing it up
Comment from : Plen122

Does anyone know how many millionaires were surveyed in the study of millionaires he cites? Thanks
Comment from : Jake Morj

I need an update on Jack
Comment from : Stop Interviewing Start Selling

Looking for advice I’m 20, just opened up a Roth IRA, and have contributed about 3k this year so far and plan to contribute the full 6k ever year until I retire I use fidelity and almost all of my money is invested into fidelity sponsored index funds, fnilx and fzrox to be specific Are these good funds that are comparable to some of the best or will I get much larger returns investing in other funds? Thank you
Comment from : Kevin McFarland

Can't pay for a house cash sadly
Comment from : Jess A

I do t know how American people take this Dave Ramsey serious, it’s hard to listen to him
Comment from : Mortgage Martin

I will add this if you have the money saved and you find a home you like Finance it and pay it off quick If your not staying at home your throwing money away in an apt anyway
Comment from : Cornellius

“91 of millionaires didn’t have enough to become a millionaire”
Comment from : Jerome Montana

Kanye west isnt broke, should I listen to him????
Comment from : capt Walker27

Question for you guys I’m from Ireland so I have no idea about this but have heard it may be true After you pay your mortgage you guys in the US still have to pay house tax?
Comment from : Ciaran ODubhuir Knows Everything

I think it's peace of mind you're buying when you pay for your house in cash
Comment from : ManInTheBigHat

This video is great! Thank you!
Comment from : The Real Aquaman

Dude I’d much rather have more sources of income I live how he just assumes that if you invest in real estate your broke
Comment from : Gavin Hoffman

If you have cash, please don’t scoop it off and buy a home and such Save it in your bank, take a mortgage and pay it off slowly Save the cash for rainy days
Comment from : Drake Drones

It must be a bias study! Why would you pay off your house with cash? Invest it!
Comment from : L A

This is a safe way to keep working until you retire
Comment from : Feral Cypher

Thanks Ramsay… I needed that… buying mine soon
Comment from : Andy Kwool

Does your net work include retirement savings (401k and IRA)?
Comment from : Bettersaynow

Dave, that is SO true Pay off your homepay into your retirement and before you turn around, you are a millionaire! Boomwe have retired early
Comment from : Andi Elliott

Also , by the time you save up your cash , the house may cost you double or more
Comment from : David Wirth

Billionaires say different to the millionaires That's why the millionaires are still millionaires and not billionaires
Comment from : OG Crypto

Excellent advice, I love this setup and the camera quality, the frame rate 👌🏻
Comment from : Danny Thomas Boyle - Actor Musician

It’s funny because my friends who make 500k+ a year gave me this exact advice Leverage makes you rich
Comment from : Chris Stevens

Just bought my first home in cash It was largely due to the advice of Dave Ramsey
Comment from : Josh Millard

I was thinking the same thing, why would I get a mortgage, the amount of stress and heart ache that comes with it is unbelievable, I want to actually enjoy having a home
Comment from : Papi Cholo

Graham Stephan would totally disagree with this, which is strangebrbrMy Parents ar totally on Ramsey side I am on the fence
Comment from : Turnpost2552

Disagree with this S&P 500 will return more than the interest on the mortgage rates Especially over 25 years! The key is the discipline to not spend that money Secondly, in Australia at least the interest is tax deductible, so this is even better off a strategy for high income earners A paid off home is 500k of unused capital It's just not efficient
Comment from : Rob Xie

My son and daughter in law paid cash for their house, I’m so happy for them
Comment from : Cindy Bonem

I'm 28 and have just begun my journey to do exactly this I wish I had financially matured at an earlier age to start much sooner, but it's never too late
Comment from : Michael wilson

Worse thing is too pay cash If values go down, you are out all that money If you mortgage and value goes down, you are only out your down-payment + mortgage payments I lost half my money after selling my condo that was paid in cash for
Comment from : MikeTheYungGod

Paid cash for my house when I was 28 It does feel amazing! If i can do it anyone can
Comment from : Fire Ant

Thank you!!! I really needed that sanity check I've been having shower and driving thoughts about 'why should I just put a 15 down payment and pay an additional x over the life of the loan just in interest?' Although it will take a very long time to afford a 2 million dollar home in cash, I should at least put more down and take a smaller loan Side note: a house is never fully paid off, there will always be property taxes Fun
Comment from : M B

did you get a sadasfasf sasdradfsydfasdfasd asdfasf19
Comment from : Sarah Castelli

If I had a dime for every time Dave brings up the study of 10,167 millionaires he’d have 10,168 millionaires to study
Comment from : Brian mott

I would like to know where the sampling for this millionare research study was performed
Comment from : MattyVice

When I buy a house cash do I need to show them price of income please let me know
Comment from : Mariely Brito

Que Grant Cardone
Comment from : Daryl Allen

Intro…On Gang😂
Comment from : Urban Legend Blakboy

Mrs Patricia is legit and her method works like magic I keep on earning every single week with her new strategy
Comment from : Brittney Jill

By the time you pay off a mortgage you will have paid way more than you will ever make on a house
Comment from : Er Devon

Yes! Of course, why would you not want too 😂😂👌
Comment from : Er Devon

This is such BS - You are financially worse off paying your house off cash and only saving a 3-4 interest rate
Comment from : D W

My motto is "If you can't pay for it in full you can't afford it" Even a house!
Comment from : CycleCruza

Buying my house in a few weeks 600k cash!!!
Comment from : tom jo

Dave with the epic mic drop!
Comment from : Erik Hopkins

Buy the house cash many possibilities rent it for straight passive profitor live mortgage free
Comment from : Chris Borecki

This is backwards logic People who can afford to pay off a house are on track to be millionaires, which is not the same as the reverse as a causal relationship Paying off a house is also NOT THE SAME as paying cash Cash flow is a major consideration in this conversation, as well as dozens of other factors Dave doesn't appear to take into account nor mention
Comment from : David Asher

What you don't say is that you are old and gray as a millionaire
Comment from : Lorraine Elijah Brown

Buy my house cash was by far the best choice I've ever made
Comment from : Mr Free and Clear

This is misleading Once you are millionaire you are in risk reduction and you don't need mortgage
Comment from : Snow Glider

This is terrible advice and Dave Ramsey should be discredited for recommending it
Comment from : Tim Prosser

We paid off our house in 12 years Best thing we ever did
Comment from : kara

I want to buy a house cash whats the process 🤔?
Comment from : Toakase Tai

Buying a house in cash is like putting the cash in a savings account When you want to withdraw your money, just sell your housebrYou do not lose your money when you buy in cash you still have that money but its just in a form of a house So buy cash if you can
Comment from : Kris Staples

Okay but what about the billionaires that invest with debt?
Comment from : Edgar Hernandez

1:25 convenient how you care what experts think in a survey What about a survey from scientists about climate change and how does your party view that issue? Dave Ramsey is intellectually dishonest
Comment from : Chris

God willing I will buy my first home in cash
Comment from : B 888

A survey of 10k people out of 20m doesn't seem like a good sample size
Comment from : Martin

Loss 15K monthly profit in multiple houses to save 3K monthly mortgage And that’s the best Advice???? Really??
Comment from : The Mix Channel

He's jumping from correlation to causation IMObrbrIt could just be that rich people make tons of money from their jobs and are able pay down their house faster NOT that paying down your house quickly makes you rich
Comment from : Mitchell Harding

the best way to buy a house is cash
Comment from : Warsama Osman

Caller: yeah so I just want your opinion on thisbrDave: "tHe lArGesT sTuDy oF miLiOnAirEs eVeR dOnE"
Comment from : EoRdE6

We are retired and have 300k in savings and about 500k in investments Our home is only worth about 300k, we want to buy a new retirement home for 500k Our financial adviser is saying to use the cash to buy a new house Our SS is only 33k a year and we would have a larger overhead every month that we have now that scares us Any advice?
Comment from : Donna B

Why does he take two and a half minutes to even start answering a question
Comment from : Callum Spencer

How is it possible he can offer financial advise without even knowing the mortgage rateDidn’t even ask his incomeWhat if the guy was only paying 25 mortgage rate and could have it paid in 15 yearsI think he means well because he understands the average person spending behaviours but to suggest that its a no brainer is foolishSome people are very savvy with money and just need a push in the right directionDon’t even get me started on mutual funds
Comment from : Hawkeye

Paying off a house in 102 years is not paying your house in cash
Comment from : brandonbaunach

Great point Don't take financial advice from someone who is broke My first experience with this was in my first sales job During my sales pitch this guy interrupted me and asked how much I made in a week I told him and he replied how would I like to make that in a day Mind you he didn't have $10 to make a purchase from me🤔🤣
Comment from : youngerk420