저자: 미상 · 외국인
요약 보기
Reddit 개인재무 글 작성자의 예산표를 해부하며 재무 관리가 엉망이라고 비판. 월 $4,525 임대료 대비 $1.4M 집 구매 시 월 $120 추가지출이지만 원금상환과 세금공제 효과로 실질 순자산은 월 약 $1,256 증가한다고 주장. 자동차 할부($1,042/월)가 구매력을 약 $150K 줄인다고 지적. 실제 자산 가격 전망이나 종목 예측은 언급하지 않음.
다듬은 글
what's up everybody it is like 10:30 p.m. at night I never record this late but I have to do it because I was scrolling through the personal finance section of Reddit and I realized that I need to expose this Looney that thinks he has his finances under control and if you are said Looney I hope what I am saying opens up your eyes a little bit but really I hope that all of my audience and everybody who watches my channel appreciates this financial tear down so maybe you could understand a little bit more about finances because this person says they have their finances under control and I'm about to show you that that's the last thing they have under control probably the only thing they have under control is that they can post to Reddit personal finance to give people Financial advice anyway let's get right into this but first let me just say if you are new here I am a real estate broker I teach you how to invest in real estate via my courses link below also teach you how to be an agent if you want to know how to be a top producing agent and if you're going to the 10x growth conference 3 you can meet me at the pregame event the day before all right let's get into the tear down so we've got somebody here that basically says he makes this post and kind of starts with this preface everybody's always got to have a Preface on Reddit it seems like an assumption before I get into this oh preface has a preface this is really only useful for people who already have a budget and their finances under control stop right there dude just stop typing what he goes on to say is that he created this spreadsheet that helps him because he has a psychological problem for budgeting that he much prefers to understand that if he has a financial goal he is trying to attain then what he is going to do is say well my wife and I are going to determine well we only need 3.5 more years before we reach our goal honey and anytime honey or him wants a new computer or she wants Gucci shoes or whatever the heck it is then that 3.5 years might get a adjusted oh those Gucci shoes that new laptop you want that's going to add about 1.3 years to our budget are we okay with that yep and we're just never going to buy that house because that's our goal and we'll just stick with those $11,000 per month car payments we have right now okay sorry I'm giving away the good stuff well actually not really because that's just the beginning of the sad part let's get right into what's really going on here now I will note that this person does say in their post that they changed the numbers for privacy sake but folks this is Reddit and when you change the numbers for privacy sake usually what people do is they just make their Investments look larger so they seem like they're more of a professional investor and oh yeah yeah I got I got a $500,000 invested yeah yeah that's right and they really just added a zero and maybe to be modest people usually take a little bit money off their income to sort of make them feel a little bit better about themselves oh these people think I'm so cool cuz I make $160,000 a year well I really make $175,000 per year okay let's get into the uh the budget they did here because we're really going to start tearing this apart line by line okay really not line by line we're just going to do the really fun stuff because I think once I tear this stuff apart you'll realize that this person has no clue about finances and if you think I don't have any clue about finances make sure you leave a comment below and don't say that I'm a Noob I would actually prefer you have some kind of argument so that when I read it I could respond to you and tear you apart too thanks I hope that motivates you to leave a comment anyways the rent these people have is $452 and immediately when I saw that I like $ 4,528 you're like nuts a that you're renting uh and B based on your income and your rent my assumption is this is somebody that probably lives in Northern California and and it doesn't even matter if it's somewhere else it's somewhere that's expensive unless these people just live like the luxury lifestyle but it's not aligning with their income and and look if they don't live in NorCal then they suck even more at Finance but let's just go with the assumption that they live in Northern California and this is just what the rent is for like a three-bedroom two bath house or something like that because those houses retail for like 1.2 million maybe a million bucks if you got a fix your uper I I look I get it it's crazy California we're just focusing on the numbers here okay let's let's analyze this person's situation though if they're paying $452 per month in rent well there goes the rent check it's gone darn it didn't get anything back out of that and the landlord doesn't change the light bulbs either oh sorry I'm getting a little jaded because I'm real say broker sorry I know uh let's uh let's do this together so let's look at my screen here and what we're going to do is I'm going to show you exactly how we're going to tear these numbers apart first thing I'm going to do is I'm going to type in the mortgage calculator and literally I I hate using calculators so but what I will do is take the convenient aspect of having an amortization table given to me pretty dang quickly by these calculator so I will use that but all the property taxes and insurance and stuff let's deal with that separately so let's say this person financed 100% of a $750,000 loan that is they borrowed everything on a $750,000 house or maybe they put 20% down on uh let's do a new tab here $750,000 loan divided by8 I've done that before there we go uh $937,500 so they could literally buy a place for $937,500 and have a $750,000 loan or mortgage as some people call it even though mortgage is a security instrument it's not really the Deb sorry tangent let's go in and put in a 4.5% interest rate on a mortgage of $750,000 now let's add in property taxes of about $800 per month so that's going to put us at uh $4,600 let's put an insurance of 50 bucks so let's say their monthly payment is 4650 okay big deal so their payment's about $130 $120 more than what they're paying in rent big deal whatever now I know there're going to be some of you cynics that are like wait a minute they have to maintain the house too yeah hold your horses we're going to talk about that okay just just hold on to your panties let's go to bankrate.com here and I know they have this crazy mortgage calculator too I hate it I try to zero everything out let's just make sure we get the same number here let's zero everything out and I do this I purposefully every time I deal with a calculator I don't like spreadsheets because honestly people get stuck in like I have a fancy spreadsheet and they just end up making more mistakes than they do good we're going to take out all of the other junk that I literally do not want to hear about and all I want is the amortization table bam look at that if these people had a $750,000 loan they would be paying off the loan that is they have that that payment that's $120 more oh my gosh it's $120 more than their rent yeah they're paying off almost ,000 per month in principal so that means if the market literally stayed flat for the next 30 years they would own that house just paying $120 more than what their rent is know know it's it's you the maintenance people and all that kind of crap hold on uh so they're paying off $1,000 of principal per month so right away they're yes it looks like they're paying $120 more but net worth wise they're actually paying almost $900 less than what their rent is by owning this property all right that's with a $750,000 loan let me make a quick clarification here they have on sort of their dream list which is actually also part of their post which leads me to believe that they are indeed firsttime home buyers trying to buy a place for $1.4 million come on this has to be San Francisco or san Mato or something like that but for $1.4 million people are buying little three-bedroom two bath houses with like, 1500 square ft and beautifully renovated and staged and the white picket fence and the yard bro buy a freaking condo or a townhouse or something small like a one-bedroom or two bedroom buy start small with like these numbers and stop trying to like jump right into that why do you need to have all that crap right away especially if it's just you and one other person oh but I want to have kids in the future then you rent out the place you had first and you use the rental income to help you qu qualify for your next place and you move and now you have two assets on the roller coaster that is the markets but this is not a video about the market sorry another tangent so let's continue going on here because we're not done with the benefits we just started breaking down tearing apart their finances so they're paying off $1,000 per month in principal but wait a minute they're paying off $1,000 per month in principal but now they own a house they get some tax benefits now the assumption is we have two people we have a standard deduction now that's significantly higher than it used to be that's $112,000 per person $24,000 combined standard deduction fine now on the next page this person mentions they make $3,985 uh per month approximately as their gross so they're making about $167,000 per year I'll just be conservative and and uh adjust downwards here let's type into Google California income tax calculator and we're going to jump over to ftb.ca.gov 2018 tax calculator married filing jointly calculate they're paying over $10,000 annually in uh California state income taxes so what that means is they are maximizing out their salt deduction at $10,000 they get to write off that entire $10,000 so so now we have write off of $10,000 but remember their standard deduction is 24 so right now it still makes sense to take the standard deduction but wait there's more we don't get to write off property taxes anymore they lost that tax benefit thanks to the Donald Trump tax plan this is not a IC Ally motivated statement at all sorry purchasing power went way down when that went away and you'll see why because they do still get to write off interest by writing off interest you are writing off well let's figure this out we're going to go to our amortization table 2812 so let's type into google.com here 2812 * 12 they're they get to write off $33,750 of Interest per year but remember they've already written off $10,000 of their state income taxes off that $24,000 standard deduction I know that gets complicated but watch this $24,000 standard deduction that they get whether they renting or owning but now they're going to itemize their taxes so they get to write off the interest so we're going to subtract that off then we get to write off the $10,000 because they paid the California state income taxes they're going to get a tax benefit by owning this house this is not Financial advice legal advice or CPA advice this is for Ain purposes only I'm wearing a pirate hat for goodness sakes they get to write off an additional $19,750 $19,750 div uh times probably what they're paying in taxes of about 35% is $6,900 per year divided by 12 they are saving another $576 per month if they would just buy something instead of renting something so now all of a sudden on my little tie rate here they get to pay off an additional th000 bucks basically grow their net worth by $11,000 every single month because they're paying down principal and they're saving $576 per month in tax writeoffs so all of a sudden we have this sort of combined benefit of $1,576 that they gain by owning a property every single month now for all those of you that say oh what about any so even if we figure in the fact that now they have to to maintain the property themselves they're still and yeah they're paying maybe an extra $1 $120 over what their rent is they're still up by$ 1576 minus1 120 what they're paying over rent minus $200 for uh repairs they these people would still be gaining in net worth by $1,256 per month just by owning rather than renting so the fact that they are renting for $4,525 per month and they're going to save for on the next page it says here 3.2 to 4.3 years before buying a place is completely asinine because they are probably too interested in we have to move into our first house that has to be beautiful with the white picket fence for $1.4 million we will not start by buying anything smaller or anything more shack-like mindblowing whatever let's continue to look at their budget all right utilities and I I don't understand why there's a utility section and then there's trash Water and Sewer those sound like utilities to me but whatever and the fact that you're only paying $55 for internet and TV you must not have TV service but whatever uh then we got $14 a month for netflox we've got Spotify phone car insurance renters insurance fine whatever oh we got renters insurance in there anyway I built Insurance into my numbers I'm not going to go back and revise them okay this is where my mind goes like this boing wait wait wait this person has their finances under control but they are spending uh they are spending $1,442 per month on car payments not including car insurance or vehicle registration 1,042 divided by what their income is of 13 what they say it was divided by their income of 13 985 they are spending almost 7 1.2% of their income on a car payment that's not gas that's not Insurance that's not registration it's not Costco it's not Amazon it's not Whole Foods it's a car payment absolutely disgusting this is where I completely align with the Dave Ramsey approach as you should have a used car that you could pay off ASAP that has is at the bottom of its depreciation curve so you don't have the depreciating asset especially when you're try to save up for something seriously $11,000 1,042 per month I mean even if that's 500 per car what do you want to drive around and feel fancy in your E-Class Mercedes that you're paying $500 per month for but you don't own a freaking property and you're leaving $1,200 per month in actual real net worth benefits on the table factoring in already the new standard deduction the Trump tax plan and maintenance houses usually especially if you buy a fixed up house and you get it inspected appropriately look there's plenty of information for this especially in my real estate investing course and so on and so forth we talk about this stuff all the time I usually put aside $200 per month for repairs on a single family house especially if it's a townhouse you could usually put aside less but if something's like remodeled and ready to go you should not have to spend more than $2,400 per year that's like replacing a furnace every single year or a roof every single 5 years roofs have 30-year lifespans furnaces have 20 plus lifespans not not that big of an issue is especially if you get it inspected appropriately a wait but they have their finances under control anyway then we have miscellaneous fund they're spending $671 on a trip to Vegas well holy smokes if you can only spend $671 on a trip to Vegas I mean that's impressive look okay either here there's one thing that's true here we know you don't have your finances under control you must just be a boring person okay okay now just being mean look the the the fact that they're paying this much money at a car is absolutely disgusting the fact that they're they're renting for this much and they want to wait another 3 to four years before actually buying something is mind-blowing now uh okay let's look at their actual budget sheet for when they go to buy a property and let's look at some of their misconceptions oh by the way here's another fun thing that we should do really quick let's look at the mortgage calculator and let's just see how much it hurts to have that $1,000 $1,042 per month car payment in terms of being able to qualify so their income is$ 13985 something like that whatever their income is 13985 now what we're going to do is we're going to take 43% of that as a backend debt ratio now we're going to back off their $1,000 42 payment off of that okay there we go so right now they could buy a place for up to a monthly payment of $ 4971 they if they didn't have the car payment they could buy a place for up to a monthly payment of about $6,000 so there's a difference of about $1,100 in payments that they're suffering because of those cars now what is the purchasing power impact on that well let's see here if we did uh I'm just going to guess here if we did a $150,000 loan and then we figured we had property taxes about $150 yep right on exactly so their purchasing power decreases by about $ $50,000 because they have a car payment of $1,442 per month if they had zero car payment they would be able to buy something for $150,000 more now that's not to say that they should spend $150,000 more on a property I I personally think they should not especially based on what we're seeing so far but if they did spend another $150,000 on a property and now every single year let's say that $150,000 property went up just 1% in value that's another 1,500 bucks in their pocket just on the difference that their car payment did not allow them to buy now if we go with more of kind of like a historical average for Real Estate appreciation of 4% that's $6,000 they're leaving on the table every single year because they have that stupid car payment all right now let's look at their budget as to why they're not buying a house here we go monthly income $ 13985 conservative buffer because comes up yeah that's fine I agree with that all right current rent blah blah blah okay here we go what's what do we got down here so house costs $1.4 million down payment $280,000 yeah there's your guys's problem you guys have $14,800 in cash and you spend $671 in Vegas and you think somehow you're ever going to come up with $280,000 it ain't going to happen this is why when people actually have the rest of their finances in order I recommend people consider loan options well first of all buy a smaller place and second of all consider getting like a 10% down loan because now if you got a 10% down loan on a $750,000 house you'd have to save $75,000 and you'd be buying and milking these tax benefits and appreciation and principal pay down much sooner but nobody wants to listen to me because I'm just a realtor it's fine what whatever people are like oh you're a realtor you're just trying to sell another house dude I don't work in San Francisco you think I make videos on the internet to try to find clients you're crazy because it that doesn't make sense I make these cuz it's 10:48 at night see I had to pause for a second because it says 2248 and my wife Lauren says that's stupid that I have it on military time anyway uh so the monthly mortgage payment taxes and insurance clearly they also don't even know how to calculate their property taxes because there's no way I mean unless I'm wrong about them living in California but if they're living in California there's no way they're only paying $11,000 in property taxes on a $1.4 million house they're paying at least $1,00 on property taxes uh Plus Insurance okay this whoa ,000 in maintenance per month paid whenever something bad happens no no no no first of all you don't have a maintenance budget that you only use when something bad happens no because then it's never available you always always always every single property you own you put money aside every single month into an account that you do not touch do not co-mingle your real estate money with other money big mistake keep it separate so the money is there when stuff actually comes up and you're not like oh crap we just went on a trip to Vegas instead be realistic and hide that money out of your site so it's there when you need it and $11,000 a month in maintenance that's $112,000 per year this person's pretty much saying they have to replace a roof every single year or they just bought the biggest fixer up in the world didn't get a home inspection and all of a sudden like oh the sewer is bad oh wow the electrical systems bad oh my gosh the entire the the the foundation is is falling apart come on folks I look you know what I'm done I'm done I'm done I'm going back to the preface I'm I'm going back to the preface at my endace this is really only useful for people who already have their budget and their finances in control oh man
Comments 0