tekprime

Dave Ramsey tells caller with $1,500,000 she can withdraw $10,000 a month without running out of money Caller: “I'm a 62-year-old divorcee. I have zero debt. I don't own a home, but my car is paid for, and I'm living with my partner, who does not charge me rent. I have approximately $1.5 million in retirement funds. What is a good amount that I could take out monthly and still have enough to live on. My biggest fear is running out of money. I live very frugally now. I live on $2,000 a month and I think I just need guidance” Dave: “Let's just do some basic math. What is your $1.5 million invested in?” Caller: “Traditional IRAs, Roth IRAs... mutual funds, growth stock mutual funds” Dave: “The portfolio is averaging what the market has averaged. So let's pretend it's going up by 12% a year. If you pulled off 8%, that means it would still go up by 4% a year. Eight percent of $1.5 million is $120,000 a year. That's $10,000 a month” “Here's the idea: if we make 12% and we pull off 8%, we never touch the $1.5 million, and it grows by 4% a year. You never even touch the principal, much less run out of money. It's perpetual. It's mathematically infinite if you don't touch it”

ft. @DaveRamsey

Dave Ramsey says parents should NEVER loan money to their children or relatives: “The interest payment on that is your relationship” “Parents should never under any circumstances loan their children money. Period. As a matter of fact, you should not loan any relatives money under any circumstances. Period. If you have the money to help them and you want them to have the money, give it to them. If you're not willing to give it to them, shut up” “I want to be paid back after I helped you with your misfortune. And I'm going to feel good about me when you pay me back after I helped you with your misfortune. That's ass backwards, people” “If you want to help them, help them. If you don't want to help them, don't help them. But don't make them owe you money because Thanksgiving dinner tastes different when you eat with your master, and the borrower is slave to the lender”

@cptdankkk Love the game so much, cry tears of joy

Michael Jordan says today’s NBA players don’t have his ‘Love of the Game’ clause “It was the basis of my career. My love of the game within my contract, which I’m positive now, don’t have that clause within the contract” “If I was driving down the street and I see a basketball game on the side of the road, I can go play in that basketball game and if I get hurt, my contract is still guaranteed” “I love the game so much that I would never let someone take the opportunity for me to play the game away from me” “As opposed to now, where you don’t have it. Players probably don’t play. Now they get individual attention with their trainer. You go out and shoot 100 shots or a 1,000 shots” “I found it to my benefit was go play basketball, man”

@jowpulday This?

@tekprime99 i drove VWs as a kid, one thing after another fixing them, no heat, etc, etc. bought a brand-new 2wd Mazda pickup (sport model) for $3,695 in 1984 while in college, had like $114/mo payments, it was one of the smartest things i've done in my life.

Dave Ramsey tells caller in debt: You don't need a $20,000 car to drive to a $30,000-a-year job. Sell the car “If you have a low income, it does not give you a pass on math. How in the world someone loans you $20,000 on a car that wasn't smoking crack, I don't know. You don't make enough to have a $20,000 car debt. Let's get the car sold” “Yes, you need a car to get to work. No, you don't need a $20,000 car to get to work. You just need a beater, a hooptie that runs and gets you over to work because you're not driving to a $200,000 a year job. You're driving to a $30,000 a year job, and you're driving a $20,000 car over there. That doesn't fit in this picture. It shouldn't even be in this picture. We shouldn't be having this discussion”

@JeffP441963 you’d rather take out a mortgage?

@tekprime99 Terrible idea!

Dave Ramsey tells caller to use money from his $1.2 million investment portfolio instead of taking out a mortgage to buy a $350,000 home Caller: “My salary is $70K and she's doing $55K” Dave: “Do you have the money in a pile to pay cash for the house? That's not really an option is it?” Caller: “You're going to be very happy to hear this. We both net around $1.2 million invested in mutual funds, ETFs, bonds, and stocks” Dave: “No, I would not borrow money when I have a million dollars in investments. I would just take some of that and buy me a house. Simple. How expensive a home are you thinking about buying” Caller: “We're looking at $350K to $380K” Dave: “Perfect. So $350K leaves you $650K in investments. You have no house payment. There's no strain on your budget. Your wife can stay home with the babies. When you have no payments, you make different decisions than when you have a house payment. So don't do that to your family. You have worked very hard and done a very good job saving money. Use that money to buy a house, or don't buy a house. Be a renter”

@cptdankkk might as well go all the way

Kevin O'Leary says he tried hair transplants but stopped because they hurt too much “I did try hair transplants years and years ago. It was very rudimentary back then. They're better now, but I've never found them to really look real. But at this point my brand is the Dome of Desire. How can I give this up” “If you're going to do it, you should do the whole thing at once. It's really painful. But they do it in Turkey. It's the only place in the world where you fly there, spend a month in a nice hotel, and do the whole thing. It's really painful. I just did the first of like 10 and said, I'm not doing that again. It hurts like hell” “I still have the plugs on the edges. But here's the other thing about hair transplants, the hairs come out in different directions. It looks a little funky. Often you see guys who have the front working but nothing in the back. You're bald. Get over it”

@cptdankkk me when i dont get 8 hours of scrolling tiktok

Joe Rogan and Bradley Cooper say short-form social media content is like heroin for your brain: You're chasing a fix you're never going to get Joe: “Short attention span stuff is very popular, even with me. But I have been resisting it more and more lately. I'm like a heroin addict, slowly weaning myself off the drug. And the more I wean myself, the better I feel. Physically better. My brain works better. I feel more relaxed” “Sean O'Malley, the UFC fighter, said, ‘When I’m just scrolling, even if it’s not anything about me, there's just a low-level anxiety that I get.’ I'm like, yeah, because you know you’re wasting your time chasing a fix that you're never going to get. And you're just getting these short drips of, Oh, look at that. Oh, look at that. Oh, scroll, scroll, scroll’” “Humans didn't change. It's just you can hijack their reward system by giving them some short attention span nonsense, and it tricks their slow drip dopamine into continuing to watch this stupid shit. But that's not what they want” Bradley: “It's the difference between just a little drip of something that has the illusion that I'm getting what I want, as opposed to what I actually need, which is sort of a reminder that I exist. And that I'm communicating with somebody and I can relate to it” “I only know this because I've never been on social media, but there was one time I somehow got on TikTok and it was all police footage. I remember laying on my couch. Forty minutes went by and I was just doing this. There was the first part of the video, then what happened, then part two. That was the only time I experienced it, and I thought, I gotta stay away from this because I won't leave the house”

ft. @DaveRamsey

Kevin O'Leary says whether you bring a cheap bottle or a $5,000 bottle of wine to someone’s home depends on the host “I always read the room first. Who is inviting me? Are they wine collectors? There's nothing worse than going to someone's home that has their own cellar and bringing industrial waste. You have to read the room” “What often happens is, if I'm going to someone's home that I know is really into wine, I'm going to bring a bottle from my cellar. They're not going to open it” “My most expensive wines are about $5,000 a bottle. They're Burgundy wines. They're DRCs. If I'm going to someone's home that collects DRC, I will bring a La Tache or a Richebourg” “I'm not really giving up that money. When that bottle shows up and he sees it, or she sees it, when they come to my home, they bring another DRC. That's how the wine game works”

@hornsbykid overall do you think rental properties are returning 5-10% on the investment consistently?

@tekprime99 It's called a property manager. Sure you start out small but in the right areas you absolutely will make money. It's a long term asset that you can borrow against. Buying real estate when you're young is one of the best investments you can make as an entrepreneur.

Dave Ramsey says people who think rental properties are passive income are dumb “When people say real estate creates passive income, that tells me they've been getting financial advice from some moron on TikTok. I've owned rental real estate longer than most of you calling have been alive” “I've seen it all and done it all. Whether it's commercial properties with a pizza place or a CrossFit gym, or a condominium and the guy decides he's going to use his wife as a punching bag, gets put in jail, and now she has two little kids and can't pay the rent, I'm the landlord. What am I supposed to do with her” “You want to call that passive. That makes you dumb, or at a minimum inexperienced. Passive means you don't have to do anything. You want passive. Put your money in a mutual fund and they'll send you an email telling you what happened. There's nothing passive about real estate”

ft. @kevinolearytv @RealTommyMello

Kevin O'Leary says listening is more powerful than talking: Listen 70%, Talk 30% “Most people talk 70% of the day, listen 30%. You should actually listen 70% of the day, talk 30%. Because when you listen, you get more power. You understand where you're at” “I was taught this by one of my women CEOs a few years ago. She said, ‘Kevin, you know you talk too much and you're not listening. You should try reversing it and see how powerful you're going to become’” "She was right. It helps you a lot to just listen. Go into a meeting and just listen. Sometimes there's an uncomfortable moment where you don't say anything and they start giving you information they didn't want to because they feel socially uncomfortable. I don't feel uncomfortable. I'm happy to just listen” “It's very powerful. It works immensely. That's one thing I wish I'd learned in my 20s because I talked too much back then, but now I don't. I'm very careful. I just listen”

Marcus Morris says the NBA middle class is disappearing because of $50,000,000 contracts Adam: “The Devin Booker one stuck out to me because the math was, he's making $880,000 a game. Is it still staggering to see these numbers and where it's gotten to?” Marcus: “I wish they could disperse it out a little bit better than what that is. You'll see teams like OKC, where you're going to have three players making $50 million, but it's more players on the team that's giving stuff to help you win. You're going to see that, then the big drop off of $8 million, $7 million, $3 million. In that aspect, I think it should be more mixed” Adam: “The upper tier guys are always going to get paid, but it does seem with the luxury tax and aprons, the middle class is no longer there. Because if you're going to have some big name guys, the rest of your roster needs to be low end contracts. Then when someone gets to that next level, there's no middle ground”

@tekprime99 Passive is what the IRS calls it. You want to take your advice from them?!!

Michael B Jordan reveals how growing up with the same name as the greatest basketball player ever feels and what it did to him "Having the name Michael Jordan and understanding that there's another guy out there, 'Michael Jordan', that was the best ever to do something and being teased and picked on about that" "Made me for more not wanting to play sports but then i was like nah I'm actually gonna make sure I'm compete" "I'm gonna compete at least I'm gonna compete, you're gonna at least see me, I'm gonna be somebody that.." "It's not gonna be 'oh his name is this', it's gonna be 'oh no but he can play or oh no he has something about him something'" "That is formidable, that is above average, that is unique to him and it gave me a healthy chip"

ft. @DaveRamsey

@tekprime99 he is a menace to society tbh

Clavicular rates Mike Majlak a 3.75 out of 10 and explains exactly why “I would say that I'd probably rate you maybe a 3.75.” "Mostly cause his interpupilarry distance, so how close his eyes are - and also the longer mid-face, would be the main.." "He does have a long face. 3.75 is crazy." "Ok what's my SMV (sexual market value)?" “Well, be a lot higher, right? Because you're famous, wealthy, tall. So that's something that would be more favorable to you.” "What would you say is Mike's sexual market value?" "Exteremely high percentile, top percentile SMV, and that's really the number that maters the most." “The key bit of nuance there is that the face and your looks are going to be the most important thing for getting a super high SMV.”