Pick a Side: Arguing About Buying My Dream Truck Now

[Music] brought to you by the every dooll app start budgeting for free today Sabrina starts off this hour in Tampa Florida hi Sabrina how are you I'm doing better than I deserve as well I can't believe you finally get to settle this for my husband and I once and for all so I get to put on my referee's Jersey get out my whistle marital referee Dave absolutely and you've been with that since engagement because we did spu as a part of our uh marriage counseling so we have every dollar we do the budget meetings we paid off our house last March so you guys already know the answer to this question whatever it is I that's the thing I think I do know the answer I know he knows the answer but he has these external things so our network is 800,000 um but my husband is ready to buy his dream truck and I know you say wait until your netw worth is at least a million dollars we bring in about 215k a month the truck would be between 15 mean a year so you mean a year a year yeah absolutely I was about to buy a truck okay but U okay yeah at two at 2.5 million annual income I'm ready to go okay all right anyway but anyway $215,000 a year you're still doing good okay yeah we already put in 15% for retirement and how much is the truck the truck will be 50 to 60k okay so what is it it's going to probably be a Silverado he's torn between the Silverado or honestly Dave I feel so embarrassed what is the oh a Ford a Ford something F150 something repent F150 F150 you can't call about the truck man's truck and not know what the man's truck is it's just wrong okay bless your heart this is wonderful okay so the only AR you're out of debt you have the money to pay cash for the truck the only argument is 800 versus a million right okay and so uh what's your home worth our home is worth a little over 300K it varies on Zillow between 300 330 okay and you're in Tampa Florida and you're adding 15% so you're adding $660,000 a year not counting growth to your 401ks so that's 120 so in 3 years you'd be there if there's no growth in the stock market so you're millionaires in 18 months from now roughly that's crazy that's wild and exciting yeah that's what the math says okay that's good for y'all how old are you I'm 35 and he's 37 you guys rock you're so smart we ow you all rock you all got us here so I didn't give you any money know you didn't I just showed you how to do it Sabrina what what denomination are you guys guys oh oh we're Christian oh I know that I'm just trying to figure out like you're you sound like you come from a very legalistic background and oh my gosh you know me so well I'm scared all right she's a funy Dave will give you the answer and then I'll see if I can give you a workaround because my church is all over the I'm just kidding go ahead Dave um so the concept is and the reason we put a million dollars on there is you need to have a real really strong net worth and be in a really strong financial position in order to be able to lose as much money as you're going to lose when you drive a brand new truck off the lot when the sound goes bloom bloom when you go into the street on on a Ford F-150 that's 60 Grand or a nice Silverado that's 65 or 70,000 uh you just lost 15,000 bucks when it goes bloom bloom golly that's what it costs when you drive it into the street so you got to be able to absorb that blow and it not change your life at all most people do that crap while they're broke middle class people and they I Need A TRU I deserve a truck cuz I work hard you don't deserve squat you don't work hard enough and you hadn't done a good job yet so that's who we're talking to we try to get put a million dollars up there because at a million dollar net worth at 35 years old making $215 you can absorb a $155,000 blow right that's where the concept comes from so really what we need to understand is the concept under the principle rather than the legalistic number cuz if it was 1.1 or 900 or 800 it doesn't really matter what matters is the concept is you can absorb the blow so at if Sharon and I were doing this and it was me wanting a truck which is very very possible that that conversation has occurred um because I drove my Raptor here today so there you go but the uh we heard it coming like eight blocks away God that's a good redneck truck man I'm just saying you got to make an announcement when you come around the corner but the uh uh all right so if if we were doing this we would probably say all right the good news is the principle that's in place made us stop and think are we wise okay so the good news is you're wise both of you you've done a great job with your money you're incredible if you buy this truck it's not going to destroy your life okay and we set out on a journey following a set of principles and guidelines that got us here deviating from those is kind of damaging to your psyche it feels like you cheated you know what I'm saying yeah so technically leg technically financially you could buy the truck and you wouldn't notice I worry more about you deviating from this and saying okay I get I get I got the cheat code right I got the hack and so so it you could buy it today it wouldn't be a problem so what Sharon and I would do with both of those things in mind the concept matters more than anything else and the deviation scares me more than the technical math on it scares me and so what we would do is we would probably land in the middle we'd say okay we're not going to do it this year we're going to watch the stock market and what it does with our 401K we're going to watch our Zillow uh or whatever probably something more accurate than Zillow on my valuation of my real estate and you know if we get up in the 900s in the next 18 months I'll buy a truck we might cheat in the you know probably probably meet in the middle probably what we would do okay so this is not but I can't I don't get to blow my whistle because I'm not going to yell at you if you do it today and I'm not going to yell at you and I'm not going to say you're super extra smart if you do it you know if you wait till it's exactly a million because there's nothing magic about the million what was magic is we made you pay attention what was magic is we gave you a plan that you believed in and you executed on it what was magic is you're got large enough net worth that you can absorb the blow that's the magic that make sense and we didn't lose any of the magic if you buy something today and I I got it I absolutely love that plan and the one caveat I would add to it is does it have to be a 2024 does a 2023 or 2022 get you there where somebody else get you get this amazing if you want if you want to do a 23 you can do it today F-150 somebody else has already eaten that 15K for you and you buy a car with 9,000 Mi on it somebody return turned it and you're good to go I will tell you this I'm on my fourth Raptor so you're going to do it again anyway so you could do a 23 and in two years go do a brand new one and that would solve John you're smart try that's why we got you around here man that's a good that's a better solution than all my Meandering around the barn six times create your free every dooll budget today the simplest way to budget for your life