Can I Spend More Than 25% on My House?

Ramsey Everyday Millionaires

Ramsey Network

Business, Careers, Investing

4.8 • 3.6K Ratings

🗓️ 18 September 2024

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	This episode is sponsored by SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth and outrageous generosity. Devon is going to kick us off in San Diego.
0:25.0	What's going on, Devon?
0:26.0	Hey, thanks for taking the call.
0:28.0	Sure.
0:29.0	Appreciate whatever advice you might be able to give.
0:32.0	I hope. Don't speak too soon. Yeah, right?
0:34.3	My basic question and I can give you some more context after I give you the basic premise is that
0:40.8	is it okay for me to exceed the 25% of my net monthly income on housing, right?
0:48.2	So mortgage, HOA, property tax, everything all in, if I'm still left with $9,000 to $10,000 per month to live on.
0:57.6	Because I definitely get the advice of not exceeding the 25% of your net monthly income if it leaves you with nothing to live on.
1:07.3	And so I guess from my case specifically, does it make sense?
1:11.5	And I can answer any questions you might have tell
1:13.7	us more what do you earn and what you have a fabulous income yeah can already
1:16.5	tell what's the income thank you so right it's going to be $290,000, based income, $320,000 in total comp.
1:27.0	I have no debt.
1:28.0	I have no car payment, no wife, no children, post-tax per month it probably comes out to a little bit north of
1:36.8	fifteen thousand dollars and I have about four hundred and ten thousand dollars
1:41.7	saved up in liquid assets.
1:43.4	Wow, way to go.
1:44.9	Do you have any debt?
	...

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