It's Time to Stop Listening to People Who Say It CAN'T Be Done!

welcome to the dave ramsey show you can be intentional about your character you can have money and a career you are the hero in your story live from the headquarters of ramsey solutions broadcasting from the dollar car rental studios it's the dave ramsey show where debt is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice i am dave ramsey your host dr john deloney ramsey personality best-selling author is my co-host and he talks to folks about all things mental health whether it's relationships and boundaries crazy relatives uh crazy looking at you in the mirror i don't know whatever it is you can we'll help you with it here and of course we uh we'll help you with your money stuff in your life as well so it's always a good time with dr john around here open phones at triple eight eight two five five two two five that's triple eight eight two five five two two five kaylee's gonna start off this hour in dallas texas hi kaylee how are you hi i'm doing good are you having a good day i am better than i deserve how can i help well i have a two-part question it's about um how to pay out how to pay back our emergency fund um we pay a thousand dollars a month on our student loans and we had to use 900 recently of our emergency fund to pay for a car problem so we were just wondering if it makes more sense to use most of our thousand dollars this month to pay that back immediately or if we should use a smaller portion of that for the next few months to pay back slowly so we're not skipping a month or paying loans you're talking about your little baby step one one thousand dollar account yeah okay yeah you gotta stop paying on debt until you rebuild that if you used it because for the same reason you wanted it there for the same reason you wanted it there to start your baby steps you want it there to continue your baby steps right thank goodness you had that there when that little 900 bill came up or it'd be new debt right right so that's yeah you want to stop everything go back to baby step one finish it and then go back to baby step two again get your get you a fresh start so how you guys doing okay we're doing great we've paid off about 11 000 in the past few months very good what's your household income um about 41 000 okay very good excellent actually so is that super frustrating or was it one of those that yeah of course it's frustrating but was it come on man we got such good momentum or did you and your husband smile at each other and say hey we got emergency fun yeah i mean we've said a prayer thanks that you know this isn't killing us we have it and we can just pay it off this month and keep going so yeah what a great attitude man good for you that's awesome that's perfect and that's that's the way you you know if you get these ideas and these principles that we talk about in the rhythm of your life instead of um being like white-knuckled and forced um and that's the way you're doing it you're just this is a rhythm we said a prayer thanks thanks money thank you god the money was there thank you god we got the money to put the money back and thank you god that we get to keep going to the next thank you god oh here we go you know i mean and that's that's that's kind of a rhythm to that i've heard people when they call in and they got that 1000 emergency fund then the thing happens and if they throw up their hands as though the cosmos is against them and we're always telling them no that's the point that's why you have it right it's for emergencies for that moment right yeah that's good for you kaylee four well done julie is in denver hi julie how are you hi dave thank you for taking my call sure what's up um i have a question about being considered for a habitat for humanity house cool and we are seeking council we're on baby step two um it sounds like a sweet deal but i'm not sure it's a great idea so i wanted to see what you thought about it okay different chapters have different terms that they use for the process and so what how does your chapter work i'm not 100 sure we're still in the early um interviewing process but we are being considered okay i'm wondering if it's a like if we got into the house um the payment would be about 600 a month which is great um so they're not giving you a house free and clear they're giving you a house that has a debt against it correct yes 160 000 mortgage okay and what is the benefit of it being a habitat house that's what do you mean i'm sorry i mean you could go buy a house for 160 000 mortgage without habitat right yes so why habitat what are they giving you uh opportunity is what it feels like because the market in our area for a house this size would be near 300 000 okay so it's half off it's half off but i'm not sure if you actually gain the equity and ever have the chance to sell it yeah some of them don't and that's why you need to learn the terms okay and uh some of them you you get the home but uh and if there's any there's all kind of wacky stuff on the default and other things and the the programs are meant to be a blessing but what they're pushing the reason they build some of these uh i guess weird terms and into the payment plan and into the mortgage and into the sale and so forth is they've had a recidivism problem they've had people get into the homes and fail yes and so uh like a lot of them so that's how we've gotten involved just to help them learn how to handle money so when they get a free house or a half off house or whatever they don't end up going and buying six big screens at best buy on 90 days same as cash and then end up losing their house and that kind of crap has happened too much with habitat habitat is a wonderful organization and they do really really good work but they're just trying to people's behaviors have to change uh even if you gave them a free house they'll screw it up right right your behaviors don't change and so that and you so what they're trying to do is not be enablers they're trying to be real helpers and so their their spirit is good uh i'm i'm an admirer of habitat we've done a lot of work with them uh through financial peace university over the years we've worked here in the nashville community very closely with them but again they you need to learn the nuances of the terms and i don't mean terms as in definitions i mean what are the the term what is the restrictions on the equity and the sale and what is the payback and can you refinance later and it not be in there and you could get you could get just stuck in some of these deals and again they're well-meaning but they don't but if things all work out well it's not as much of a blessing as it sounds like sometimes depending on how they put the the process together because they're gonna limit the sale or they want some of the equity back if you do sell it or if you refinance you you know you've got to refinance through the portion of the equity that they gave you so that they can move on to the rest of the houses and build them and it's just it's it gets real complicated so dig in there and learn what you're getting into you're very wise to ask a lot of questions and make sure that uh that the blessing is not so mixed i don't want a mixed blessing yeah i i didn't know i didn't i'm learning just now the public thinks that they just gave them a free house that's right and they don't and there's a lot of hardly understood they've never occurred to me now that someone could get a free house and turn around and flip it and sell it and yeah there's going to be all kinds of caps and restrictions yeah and it should yeah because the purpose is to give someone that doesn't have a home a home and and the benefit of home ownership it's not to make you know not to be watching cable tv and go flip this house let's do habitat woo-hoo you know have a place to come here so it's it's you know but they've had people try to scam the system and they've got they got to put some protections there absolutely yeah so they're not bad people but you need to you need to really know what you're signing up for and love it and it's smart to do that and so and then you can decide if it's right for your situation dr john deloney ramsey personality my co-host today this is the dave ramsey show [Music] um folks it's an honor to tell you about the army national guard not only are they big supporters of our high school curriculum but they also give you the opportunity to impact your local communities whether your goals are to get an education serve your country or have a better life the army national guard can help get you there plus they offer unbelievable financial benefits secure your future today visit nationalguard.com to find out more [Music] so [Music] dr john dolone ramsey personality is my co-host today open phones at triple eight eight two five five two two five tax season is upon us i know try to contain your excitement yeah no one likes doing taxes especially after a year like 2020 no one likes doing taxes it's a hassle to begin with and then you get to give money to the government which is always a fun thing because they're so efficient with it and then you get free tax software tools which gets you knee deep into the filing process and sucker punch you with add-on fees credit card pitches and the opportunity to finance your refund at rates that would make a payday lender blush who you finance your refund for 90 days before you know you go ahead and get your refund instantly and then they then you assign your refund and it pays off your loan you know however quickly the irs would have sent you your refund and they jack you who man it's like well it's like buy you've seen these things online where you can buy a shirt and pay three dollars a month or something yes yeah it's the same thing if you actually add up the interest rates on that crap it's like 800 percent i mean but nobody well it's just three dollars i just paying a few dollars to get my money early because your child your child you cannot delay pleasure you're getting killed you're getting sucked into these people there's a better way to do it ramsey smart tax our team's brand new tax filing software will help you file with confidence with ramsey smart tax you get up front pricing and a killer deal by the way try 17 no tricks ever you can do the premium for 38 i mean it's pretty incredible get rid of your taxes get rid of the frustration don't get ripped off don't get sucked in text the word tax233789 ramsey smart tax text tax 233789 zack is in charlotte hey zach welcome to the dave ramsey show hey dave how you guys doing better than we deserve man what's up in your world uh i i need a little bit of help uh i'm trying to figure out how to set some boundaries with my roommates who are very irresponsible with money and i know that conventionally you'd probably tell me just to leave but the other issue i have is my wife does not will not allow it at the moment i'm trying to deal with that with marriage counseling but until i can get that solved i need to figure out how to set the boundaries so that i don't have to keep cleaning up life will not allow you to leave your your responsible roommates is that what you just said yeah yeah okay so understood walking me through wife plus roommates yeah that's to start with i'm already confused uh the female roommate is her best friend of since they were kids uh we live with her and her husband and because of that particular relationship dynamic she does not want to leave the same household i'm fine with staying the same vicinity i love these people but while we live in the same house they keep making irresponsible decisions with money i keep having to clean up the mess and i'm getting sick and tired of kind of trying to end up living with them is this like a like a a commune do you all have sheep and like chickens what are y'all doing you have like a solar panel [Music] uh what happened was uh so what happened yeah pretty much um no this is pretty back in the end of like 2018 start of 2019 my wife and i almost separated because of marital issues okay that's a surprise but uh and you guys thought hey i know i know what can you do i know what can help we got to get roommates no you she moved in did you move in with them or did she moved in with them uh kind of both what happened was after after the separation when we got back together and decided we were going to try to work things out her friend invited me why don't we try moving out to north carolina with them we were living in colorado at the time of the separation the town we lived in had a lot of toxic people that was part of the issue and her friend was going to try to get her into some good counselors that would help her out because the counselors in our area are not very good and we moved out there and then through the financial stress pre-dave and then the pandemic and stuff we weren't able to get our own place or better the situation and it kind of evolved to where she just doesn't want to leave at all she wants if she had her way she wants to live with these people for the rest of their lives like we get a house together stuff like that but they're irresponsibility that's not going to work so zach you're your marriage is in trouble and you know that right oh yes i know that okay so i don't like because i'm happy about it i'm not happy about that that's right that's right so do you have there's two separate things here one is to answer your question do you have legal responsibilities to clean the mess up of these roommates meaning did you sign the lease and they're just okay then to set up the boundaries there stop spending your money to clean up their financial messes okay i wish there was a more complex way to do that but you need to sit down and say from this point forward i'm not bailing out the home for your part of fill in the blank bill um uh rent etc what is the financial arrangement um for you to live there you pay normally apparently says we go 50 50 on the rent and the bills and stuff issues right now one of uh the husband of the other couple he is currently unemployed and we're waiting to get a new social security card so that he can get a new job somebody stole his wallet a few months ago and then he got fired we've been trying to replace it but it's just taking forever because of the virus okay i say we because i did shell out a few bucks to help him i still have some money to help him get his birth certificate so that he can get it and that's what we're waiting on so we can get the so what what is your income uh like what do i do for a living or what do you make a year uh roughly 38k what about your wife does she work i know she doesn't work you have children none that are she's got a daughter but she's not in our custody okay so why does she not work uh she's got really bad social anxiety and back problems and i feel that saying this i'm not sure if it's a matter she can't or she won't okay that's fine i'm trying to get her into counseling yeah so dave feel free to bop me upside the head here at this point zack i'm gonna let my wife know in 30 days i'm gonna move out it's not a helpful it's not a safe place for your relationship um it's not a good financial arrangement you're running a household of four on a 38 000 income and your marriage is deteriorating underneath you and she's told you point blank i'm not leaving and so in a way she is separating from you by staying put and at some point you've got to just take care of what you can take care of which is you and i would i mean dave you can feel free to say but i'd get a one bedroom apartment and say this is where i'm gonna move and i hope you will join me here and this is where my money's gonna be this is where our care is gonna be and then at some point you have to stop blaming every quote-unquote mental health professional in your area and that means they're probably telling you guys some stuff y'all didn't feel like hearing but you're gonna have to go get some some help on your own whether it's from a good pastor or from a counselor in your area and you gotta start working on you man but at some point the fantasy of this thing's just gonna roll back out and it's all gonna be good your wife's choosing to live with her friend and his husband or her husband over you and that's just the reality of it and at some point you've gotta kill that fantasy and start living in the reality of you're gonna have to make some plans and decisions you need to sit down with a marriage counselor to guide you through how to um phrase this in a way that is is hopefully healing and hopefully would lead her to go with you uh but you need to leave yeah because let me just tell you let me tell you what i heard okay my wife would live with these people the rest of our lives i heard you say that now that's either drum overdramatization hyperbole or just weird yeah just straight up strange so something's gotta get or she's done with you yeah and she's not gonna make it that may be the message right that may be the message and i don't know you've got two two guys in this country more high on marriage than dave ramsey we both are high high on marriage but this is a situation that you've you've got to start protecting yourself and um she's got y'all got to get out of that situation sorry zach solar panel really hey man this is the dave ramsey show [Music] cliff and i joined christian healthcare ministries because we really liked the concept of christians sharing each other's burdens and we really experienced that firsthand when cliff was diagnosed with heart disease it was just such a relief to know that financial burden was going to be taken care of chm is the original and longest serving health cost sharing ministry get started today and check us out at chministries.org [Music] [Applause] [Music] dr john dolone ramsey personality is my co-host today i am dave ramsey your host in the lobby of ramsey solutions on the debt free stage daniel and laurie are with us hey guys how are you better than we deserve i love it where do you guys live dayton tennessee oh yeah very fun ray county huh that's right all right well good to have you guys welcome and how much debt have you two paid off we paid off 257 000 wow how long did that take it's a long it was a long time coming but um two years and three months two years and three months and your range of income during that two years we make about 110 000 in our salaries and with our airbnb and extra jobs we made about 30 000 on top of that each year okay very cool what do you guys do for a living we're both professors i'm a business professor and and i'm a math professor i teach online and stay home with the kids yeah what's the name of the school there i've forgotten bryan college brian yeah yeah a classic yeah a lot of history there it is yeah very cool yeah very neat so 257 thousand is that your home that these are homeless i'm looking here with some people thank you we're weird weird professors i love it i was gonna say i know professors and they're not pulling in 257 thousand dollars so you almost have worked for a season right well this is really like 15 years we've been working towards this so buying selling houses we moved up here from orlando so it helped to go from that real estate market to here paid cash for a house bought a dream lot on the lake built a dream home on the lake sold the house that we owned outright used that to pay down the mortgage and then it worked a lot yeah um and so you're living on the lake we are living on the lake yep was that nikki jack it's chickamauga chickamauga yeah okay all right yeah beautiful area oh i'm so jealous that's so neat you guys look at that beautiful dream we are yeah that's fun so what started you on this journey two years and three months ago well that is when we started building the house okay um the dream home so that's what we just paid off um but we have been your fans for 20 years we've talked to you on the air a couple times you sent us you gave us um tickets to a live event in orlando our son has done foundations of personal finance and wow we're just your fans and we've lived your way basically our whole marriage yes well that's that's fair because we are fans of you guys yeah well thank you that's what we're doing hold on though you're a business professor you're way smarter than all of this right oh that's you you know all the things and all the yeah you're overestimating the intelligence of business you said it not me all right i know a math professor could get it because you can do math right that's easy but yeah i was more of the nerd i liked the spreadsheets and i would put the money you know i we had this thermometer thing i would fill it in every month and it was just so exciting to see and um how much of this do you guys share in your classrooms of your life i get to share it fairly often i actually teach a personal finance class and i get to share um some of my milestones it's nice to to be able to share that in the classroom in math classes i haven't really shared it that's okay you don't have to i'm just curious just curious that's interesting very well done you guys how does it feel to have no payments in the world it's amazing yeah it's um it's like atlas took the globe off and i was just walking around now it feels wonderful yeah like it gives us it leaves us free to do things fun things but also um so we have an airbnb it leaves us free to bless other people with that without thinking that we need the income from it so a couple families even we did this at the very last day of 2020. so even a couple of families in 2021 have needed a place to stay and we were able to say we have a place without we didn't we didn't need the money it's very freeing wow that's so neat yeah you guys are amazing so proud of you thank you well done well done how old are you two i'm 44 and she's like 20 years younger than yeah yeah she's 41. and you mentioned you got little ones at home who you got at home yeah not so little anymore our son zane is 16 and our daughter sophia is 13. oh man look at you guys so well done so uh what do you tell people the key to getting out of debt is regulating your lifestyle just dialing it down making choices being purposeful yeah and i was going to say the same spending your money on purpose deciding what's important to you we like we shop at goodwill and our cars are super old and we have you know old phones and we eat um gum by the half stick to make them last these things aren't important to us yeah that's silly um but we'll also drop 100 on pizzas for the church youth group because that's important to us so we decide what we want to spend our money on and and do that yeah yeah so you're not just completely cheapskate you're cheapskate with a purpose yeah yeah that's right i like it that live like no one else so later we can live and give that's right like no one else two or three pieces of generosity already in this story yeah so obviously you're living with an open hand i'm so proud of you well god has blessed us and and now we get to use his blessings even more for him and for others so that is so powerful so well done well done well done well done just i'm i'm a nerd too so february that's right so february 1 rolls over you got out your budget to pay your bills and you all had to exhale for a second because there was no mortgage to send right what is that you said atlas took the globe off i i drilled that down for me what did that feel like well and for the first time we're like you know we could we've never taken our family snow skiing like as a family we've like hung out at a friend's house and done a little snow skiing but we're like hey we could drop a thousand dollars and go snow skiing like we've never even thought about something like that before it's like because that was less than our mortgage payment you know right yeah so we'd really like every month right just from here yes we're starting to think about just doing things differently now yeah getting a better car yeah yeah maybe the cars are so expensive yeah we're still like that's not really important yeah that's not really important to us so we'll run them into the ground there's only two hundred thousand miles on my toyota it's good for another 200 hours everything's just getting started i love it man how exciting you guys are so fun i'm so proud of you we've got a copy of chris hogan's book for you everyday millionaires awesome and there's no question that that's the uh the direction you're going what's this house worth low fours mid-four maybe yeah yeah yeah maybe five yeah look at you oh you're so that's so great well done all right daniel and laurie we are big fans of you guys chattanooga tennessee area actually ray county we need to be specific here yeah dayton tennessee 257 000 paid off in two years and three months making 110 up to 140 with all the side hustles count it down let's hear a debt-free scream three two one [Applause] ah that's so cool i love it never gets old i love it now you know the history on that whole thing no so bryan college if i remember correctly i maybe get corrected on twitter because i always do but if i remember this william jennings brian okay who was the famous orator and barrister attorney in the scope's monkey trial ah okay that was all held in dayton tennessee ray county thus bryan college ends up being there i'm pretty sure that's the origin of bryan college is that right i'm getting thumbs up from them yeah look at that look at me with my tennessee history i love it yeah it's very very interesting yeah ray county is a beautiful area too well yeah it's really i mean it's picturesque and so their their their lake house is let's just say so if you're listening to this in california new york you you should be salivating 400 000 lake house think 10 million dollars right that area is so beautiful yeah so wonderful well like you said they moved from orlando and they get lot the quality real estate prices are less yeah yeah it's a great deal great deal and a fabulous area to live and raise a family i mean it's just it's that's that's good that's god's country right there man and i'm thinking of that moment that you know you're excited you paid the last payment everybody's excite you know you're high-fiving each other hugging all that the kids are in they have that little pomeranian dog running around yep and it's all good but it's not real until you sit down that next month to pay your bills and then you go oh that much money is in the account yeah it's not going to double what do you want to do and it's like let's go find the most powerful wealth building tool it turns out is my income and then you think it's just going to come next month and then the month after that that's so great yeah that's so cool man what neat people that's all such a powerful story very well done you guys very well done this is the dave ramsey show [Music] [Music] dr john deloney ramsey personality is my co-host today open phones at eight eight two five five two two five cam is with us cam's in jackson mississippi hi cam how are you hey pretty good and kind of out in the out in the rural area south of jackson mississippi but that's okay and i do appreciate the opportunity being on the show and posing the situation and uh with uh with a possible blessing that we're going the right way okay how can i help yeah dave what uh my wife and i she's the she's the big money person and what i mean by that she handles everything i'm not not much on that but but anyway we've had her home place for years and have always wanted to have something over there about two years ago we we bought a little 700 square foot 1948 house from the county moved it over there did a lot of work went to to get it completely remodeled and built back up and everything and of course around this rural area all the best builders they are but they want to be paid every week so construction loan was out of the way out of the way our house was paid off we used a heloc to do it got approved for a certain amount because we used other monies we did not and have not used the whole he-lock and won't but i always wanted this little place to stand on its own debt and so it's sitting there basically free and clear uh the heloc is the only debt we got how much is the heat lock it was we got approved for 150 how much you owe 90 yeah we just we just got through with everything 90 000 on a 700 square foot house well we have built the thing for old age and now did you add 10 000 square feet to it no how do you spend 90 000 on 700 feet well when you when you're starting from square one now we've now we had to add yeah because it was 700 we had no utility room we had none of none of the amenities to it so we had to build on to it so what is this total problem and the land worth nowadays we're it's probably looking to be about a hundred and eighty thousand with the acreage it's got and what's the acreage worth acreage by itself yeah probably sixty okay all right um so you have a hundred and uh a hundred and uh eighty thousand dollar property that is paid for and you owe ninety thousand extra on your home and what is your first mortgage balance our first mortgage we don't we didn't have a mortgage okay so nothing had a mortgage except the only mortgage you have is this ninety thousand dollar heloc yes yeah okay and so it's sitting at about seven it's sitting at seven point five percent yeah everything we're trying to do with this little house and all the the bank different banks i've talked to and credit unions and stuff the best we're going to be able to do is a cash out on it at about 3.7 our thought is to do that put it all toward the heloc whatever little remaining balance is there we'll pay that but then make sure we've got this little house holding its own debt at seven five why does that need to hold its own debt it's your debt why does it have to be on that house where can it be on your i don't want it i want it on i don't i really don't want it on my primary house why does it matter because the interest rate's higher it's not higher on your personal home on the heloc we're going to get rid of the heloc and get you a first mortgage on your personal residence uh what'd you say your household income is our household income is about 120. okay so what i'm gonna do is i'm gonna put 90 000 on five years fixed rate no closing costs on your home at the credit union at 2.9 no closing cost fixed rate five years at 2.9 or less credit union won't do that go to a different credit union go to your local bank somebody will do that deal because you got tons of equity in both properties leave the little house standing free and clear it doesn't matter which mortgage the house is on because you're going to pay it off in very short order anyway if you're smart matter of fact you ought to be debt-free in two years yeah and you could just do that you could just pay it off in two years yeah and but i just i guess i'm fixated on this interest rate well don't it to something lower you could be fixated on 90 000 going away got you yeah yeah and that's true and we are 45 a year for two years 90. done but but doing a first mortgage versus what we're trying to do on this little if you want to get a lower interest rate during that two years on a five year like note like i just said do it on your personal residence because you're going to get a lower a lower rate than you're going to get on a non-owner occupied because that's why it's 375 because it's not occupied yeah right it's a secondary property and you can get your local credit union to do that but listen here run the numbers on this okay the difference in seven and three let's say 2.9 is four percent on ninety thousand oh wait we don't have ninety thousand we have 45 after a year oh wait so the you're really only paying just a handful of dollars to keep the heloc in place if you get your button gear and get this paid off in two years and so the actual nominal dollars that the interest rate is creating the real dollar amount is not enough to buy a biscuit hardly and it sounds like the uh this the need to get this new property overrode this good chance i am debt free and now that we went and did it it's not making anybody feel any better and now we realize we owe somebody 90 thousand dollars and we had everything free and clear before we did that yeah i'm just trying to do this a minute so what we're discussing here is you refinancing this you might save eighteen hundred dollars if you pay it off in two years it's an eighteen hundred dollar problem we're discussing and that's not worth the anxiety you're feeling over it now yeah so if you want to if you wanted to refinance it on a five-year fixed rate three percent are under no closing costs no closing costs must be fixed rate no balloon fully amortizing on five years no prepayment penalty with your credit union they'll do that deal you mean you have to lean on them but they'll do that deal that's a good deal for them and they portfolio that loan they hold it in their portfolio that loan will work and that will save you 1800 over two years approximately maybe closer to two thousand and that's worth a trip to the bank right it's probably worth doing but it's not your problem right you're you know i think you use the right word fixated on the interest rate you're fixated on the wrong thing be fixated on kicking 90 grand but and getting it out of your life and next time you start a project like this begin with the end in mind because you have way overdone the little house well i'm way overdone more so dave you mortgaged your home your mortgage the place where your family lives for a 700 square foot overdone yeah did you spend 90 grand i mean run that out that's a thousand dollars a square foot yeah we just spent on these things golden baseboards oh my god it's you know yeah you can you can do a lot in southern mississippi for a thousand dollars a foot i tell you what man you can buy most of southern mississippi uh yeah they go a long way so yeah cam that's um anyway begin with the end in mind on projects set better budgets on them they give you more reasonable returns uh but you you know whatever mess you've made here certainly can be cleaned up and the fastest way to fix this is to pay it off the fastest way possible open phones at triple eight eight two five five two two five you guys jump in we'll talk about your life and your money so let me back up what would i have done if i woke up in issues i got mama's old home place over here i want to put a place on it i make 120 a year our current residence has no mortgage what do we do you save up and you pay cash that's right for whatever you're going to do number one and you could have done the exact same deal in two years yep that's paying this off in two years and then you paid cash as you went now here's what will happen when you pay cash instead of a loan you don't spend ninety thousand dollars on a 700 square foot the weirdest thing when you're spending your own money instead of borrowed money you're more careful with it because suddenly you feel like we got 150 to spend on this project right yeah instead of hey we need to get this we want to have our vision for this and we're going to do it we're going to see that vision all the way through i mean when you write the check out of the heloc you don't feel it's not real money it's not real money when you write your check out of your savings that you pounded to put in there for two years you're like i don't think we need the golden bay sports that's right let's just go with wood it changes the whole thing oh man this is the dave ramsey show [Music] [Music] welcome to the dave ramsey show you can be intentional about your character you can have money and a career you are the hero in your story live from the headquarters of ramsey solutions broadcasting from the dollar car rental studios it's the dave ramsey show where debt is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice i'm dave ramsey your host dr john deloney ramsey personality and best-selling author is my co-host today open phones at five that's 825-5225 eight eight two five five two two five stephanie is in chesapeake virginia hi stephanie welcome to the dave ramsey show hi thank you how are you guys doing today better than we deserve what's up um so several years ago my husband left um left a job and had an hour there and when he left he took the ira but at the time he moved it into an ira savings account so it's just it's not even ira it's just a holding account he's never moved it back to anything else so it's still sitting there and getting like two dollars a year um we're in baby step two still and um i know when you get the babysit before you invest back into that should we move that into an ira actually right now or just leaving and leave it in the holding account until we get to baby step four now you can go ahead and roll it um just get with a smart vester pro click smart vester at daveramsey.com and tell them you have an ira you need to do a rollover on and you'll just roll it into the types of mutual funds we talk about growth growth and income aggressive growth and international spread it across those four sit down with that smartvestor pro and understand what you're doing but there's no taxes and immediately that money will start working much harder than it is working then when you get to baby step four and you start saving 15 of your income in retirement you'll either start opening roth iras at that point um or you'll be doing you know the retirement plan at work a 401 k or a 403 b or something along those lines you technically can't add to a rollover ira okay so you won't you won't like pick up where that account left off it's just going to sit there and do its own thing okay okay okay that's that's all you know it's been sitting in there for several years and you know it's just doing nothing and you might as well get it doing something even if it's a small amount of money so every week i feel like i am taking the role of another caller on this show but i just heard something i've never heard before explain to me an iri savings account it's a bad uh okay an ira is not um an investment it is the way an investment is treated okay so we suggest inside it's a coat like a winter coat that wraps around an investment and keeps it warm from taxes okay okay so what is in that coat can be mutual funds which is what we suggest or you can do stupid it can be all gamestop stocks it could be well you'd be difficult to do that but you actually could be that stupid and i mean you have to be a self-directed ira to get that far but you can open an ira at a bank right and what's inside the code is a simple bank savings account at one percent ah okay translation sucks right dumb well i mean it's not it's you're not dumb for doing it but it's a dumb thing to do right because it's obviously paying no no money and so you don't buy um you don't get your transmission fixed at the muffler store okay so you don't buy investments at the bank love it ever all right ever because they know how to do one thing get you in debt actually two things and run your checking account for you there you go that's all they know how to do but that you know so you some banks have investment divisions or departments or whatever but by and large they're not in good okay so you're much better off to go to an investment professional like a smartvestor pro and sit down and get your transmission fixed at the transmission fix store gotcha and um you don't by the way you don't go to smart investor pros to do other stuff you don't go over there to get i don't know um you get your tires put right now you know you don't you just don't you know however far will stretch the freaking metaphor but but the uh uh but don't you know use the thing for what it's for okay and when you when you start messing that up that's so another example of that is when insurance people start doing retirement planning yep a hundred percent of the time that's a bad idea because that just yeah that's a product for them because here's what happens they act like they're a financial planner they act like they're an investment broker in the way they conduct themselves the vernacular that they use but the actual product that they're selling you is cash value life insurance sucks beyond belief right or worse than that some kind of an annuity product okay when you don't need any of that in your retirement investing you need just good mutual funds inside your roth ira or your 401k it's really it's very clean simple low fee and low transaction costs all that kind of stuff compared to insurance so when you're buying it you don't buy your investments from insurance people you know and so don't don't mix the transmission don't get the transmission fixed to the muffler and it just keeps you moving in the right direction so that's all she did they just went over at their bank and did an ira rollover but what was inside the coat keeping it warm was a tiny little savings account so so that bank made a whole bunch of money on their money that they didn't see i mean just like they do every time we park money in a bank for one percent you know it's like you that's why you don't put a hundred thousand bucks in there and have it sitting there at one percent right okay because what are they doing they're loaning it back out people on credit cards at eighteen they're making that that's how banks are you know they're making a 8 10 car loan yeah and paying you one or three quarters of one percent on your money and to borrow your money from you then they loan it back out and make money on it now you're loaning the bank money is what you're doing when you have a savings account and if you have an ira savings account you've effectively locked your money up right yeah yeah you've loaned it to them for a long time at least until you wake up and roll it over right so you can always roll it over and get out of it but you don't have to stay in a bad ira you can roll it to a good ira but it's just moving the coat um and keeping something much more high quality warm than something low quality warm i love it frank is with us in philadelphia hi frank welcome to the dave ramsey show okay sure yeah you doing it uh good man how can dr john and i help uh yes uh so so um i am a recent college graduate i graduated about a month ago um congratulations man sixty thousand dollars for debt thank you thank you uh so i graduated uh and but i graduated with sixty thousand dollars in debt uh and i also uh i'm i'm also a lucky homeowner um uh i don't pay mortgages i don't i just pay taxes at the end of the year but the house is worth 47 000 um but um due to the corona virus i wasn't uh i actually lost my job so now i'm unemployed and it's like you know i got a 60 000 debt to pay off soon um and i live in the house i can't really pay bills i can't really do anything like that so what's your what's your degree in france uh is in israeli communications in communications okay and you got a four-year degree from a college in communications excellent well done sir that's awesome well done well you're you're in a troubled market in uh philadelphia right now with corona shutdown very difficult to move around in philly much less get employed and those kinds of things but we'll try to come up with some ideas you hold on through this break and john and i'll come back we'll see if we can guide you on some ideas this is the dave ramsey show [Applause] [Music] [Applause] [Music] what makes our show unique is that we genuinely care about our listeners we're intentional about choosing the best advertisers to recommend blinds.com is no exception they offer high quality window treatments at unbelievable prices and they make it simple to shop blinds shades and interior shutters with easy online ordering free shipping and a guaranteed perfect fit go to blinds.com and take advantage of this week's special savings [Music] [Music] all right we're talking to frank in philadelphia he's got a paid for 45 000 house no job but just graduated lost his job but just graduated with a four-year degree in communications we got to get him some income coming in john what do you think that's right so frank what is it that you want to do man did i push the button let me try this now try it again frank there you go sorry what is it you want to do what do you want to do man uh i aim to be a video defending photographer uh uh in the future that's my treat that's my passion okay i plan on doing it in uh near what kind of photographer uh uh so why do you need a four-year degree to be a photographer uh it's not a uh it was kind of a decision that i made when i was younger i got back into school uh when i was 25 i'm like i'm not a traditional student i'm 29 now so uh i got back into school when i was about 25 or 24 so uh so i wasn't really thinking through but like now that i hey i completed my degree it's like i'm finding out like i i really didn't need it to become a photographer or videographer you know so have you ever been paid to take pictures yes yes by who as a co was a customer or were you working for somebody yeah so i'm going to ask a question i'm going to ask this question not to be disrespectful but just to get an honest assessment of where you're at are you good at it or is it something that you just like to do yes i'm great i'm greed okay so i you got two two things going on here number one you're gonna have to join the the ranks of millions right now who are putting together two and three jobs you're stringing it together you gotta hit the streets man and start hustling and that might be working a shift at home depot and then getting um driving uber at night you gotta go get a job you got a four-year degree so i think you can even do better than that or go into a management position and then what you're gonna have to start doing is figuring out ways to market yourself put yourself out there where you can take pictures whether that's on instagram or youtube or get next to some folks weddings or whatever the thing is in philadelphia that will even allow you right now to go take photos and start getting your work out there but just to sit at home and wait to be able to work full-time as a as a photographer from the floor up man that's a tall ass so you got to get some income coming in quick yeah you need the photography gig needs to start as a side hustle to your main gig and your main gig is making money to eat that's right and pay those that 60 grand off so you can be a side hustle so on your photography business so that you can grow it enough that you quit the main gig that's right and our and our friend ken coleman in this proximity principle book here's the thing you're going to go work let's say home depot you'll get a job there every person that you hear that's got a wedding you're you're going to be on their front door with a with a card you're going to be talking to them in the in the aisles anybody who's got a kid who's about to be born anybody's got graduations you're going to be hitting those folks up and you're going to slowly build your circle that way or start working for a wedding planner setting up chairs yep and oh by the way you're going to be around weddings and then you might get to take some pictures at a wedding who knows there will be a day when that wedding photographer doesn't show up it's going to be too cold or too hot or too snowy and you're going to have your gear ready to rock and roll and you're going to save the day and their car broke down and superman was there setting up chairs oh that's exactly right clark kent that's exactly right you get in proximity that's what ken talks about so we're going to send you a copy of ken's book the proximity principle but you need to get in the proximity of people who need photography even if you're setting up the chairs and get in there and just but and bust it man and john's right the first thing you gotta do is get the wolf away from your door cause he's howling i heard him on the phone yeah and we got to get him away you got to get the dead gun bills paid and get the pressure off and the stress off of you and that's just the primary reason for making an income is existence right the secondary reason for making an income of self-actualization and doing what we love and so uh we don't we don't sacrifice existence in order to self-actualize that doesn't it's backwards that's not how that works so you hang on kelly i'll pick up we'll get you a copy of ken coleman's book the proximity principle and get out there and john's right and stir it up man stir it up leanne's in charleston west virginia hey leanne how are you hey dave i'm fine how are you better than i deserve what's up well um i grew up listening to your show my parents were avid listeners they completed every step of their plan and then they started me and my husband out on it when we first got married wow and now we've been married yeah 13 years and our only debt is the remaining 100 000 on our mortgage good um yeah back in september my parents both passed away in a plane crash i'm sorry please thank you um we've inherited uh 360 thousand dollars just from the life insurance in the estate and then another 300 000 uh three yeah 300 000 from my dad's 401k um i really want to honor my parents and how i manage the inheritance good for you and so here's my thank you so here's my question um we would like to move into a bigger space but um how do we decide how much house we can afford in a situation like this our idea has been to buy a new home with cash and then um and then sell off the current one and use that money to pay off the remaining mortgage um but i just i don't really okay what is your current home worth i don't really know i we got it for 145 i think it's worth more now with the market going up what do you think it's worth today what are you going to sell it for oh i think at least 160. okay and what are you talking about moving to what kind of price range home are you moving into well that's what we're not really sure about we've been looking what are you thinking about but also not a million 250 but no i mean entertaining the idea of 350 but i feel like that's overkill and obviously what's your household income have to offer my husband's a pastor and he makes about uh 57 000 a year and you're stay-at-home mom yeah okay all right yeah i think 300 is good budget i don't mind that you got 300 that's not in the ira right yeah and you're going to pay cash for it and then we're going to sell the other house is it is would it be better to pay off the current one and then go hell shopping but then we have a smaller smaller budget to work with no you got your 300 in cash sitting there right now from the life insurance right yeah yeah you pay cash for it and then sell your house okay and you're gonna have a little bit of equity out of your house that you can invest and do other things with and you've got the inherited ira to invest into other things with you paid cash and you're 100 debt free i think your dad's smiling uh it just feels kind of crazy to go out and spend all that in the house um so what what is it about 250. yeah i hear the hesitancy do you not feel like you're worth 300 what's what's the hesitancy there i don't i don't know they never lived like that you know yeah yeah but you're not talking about that you're talking about talking about you and your and your husband what is it about that number i don't know it's i mean he's a pastor he doesn't you know i don't it just feels oh it's not it's not extravagant it's not extravagant and it's not gross if you told me 750 i would tell you that was extravagant and gross yeah well i don't want to go into that i know you wouldn't be in debt if we cashed out everything you could do that but i just don't think you ought to do that in your case your situation will be that you will have about 40 of your then net worth in your home and you're 100 debt free that's not a bad ratio and then everything that was going towards the mortgage is going to be used to build wealth and to be generous with continue to build continue to build the nest egg continue the legacy that your parents started and that you're just working off of the platform that they created yeah and you'll be millionaires and and be patient and be pastors and that's there's nothing wrong with that you didn't do anything wrong you weren't gross you weren't greedy you aren't showing off you're not out of control and there will be a number of people i would tell you if you were you know that right yeah i know i'm not gonna lie to you i'm telling you the truth i mean i'll call you out if i thought you were doing it because i i i love your listen your primary filter on this is is this honoring to mom and dad's memory my answer is yes you're paying cash and it's a reasonable ratio yes this is the dave ramsey show [Music] you know healthcare has gotten to be ridiculous it puts people um you know on the brink and so it would have put us on the brink had we not had chm chm saved our life same time financial lives christian healthcare ministries or chm is not health insurance but it is a budget-friendly option and the original health cost sharing ministry for christians learn more today and check us out at chministries.org that's chministries.org [Music] our question of the day comes from blinds.com they have a 100 satisfaction guarantee meaning if you mismeasure you pick the wrong color you'll remake your window blinds for free you get free samples free shipping when the new promos they run every month you'll save even more use the promo code ramsey to get the best possible deal all right today's question comes from nicholas in new york nicholas asks how do i say no to friends and family that want to go out and do things that just do not fit in my budget i'm currently on baby step 2 and i'm doing the debt snowball and my budget is very tight i just always feel terrible saying no to my friends and i'm afraid to lose them any thoughts i think you're under 40. yeah i think so i was gonna say i think so um nicholas i'm just gonna call out the elephant in the room here if your friends don't want to hang out with you then you need to get some other friends they're not friends they're not your friends friends that you have to pay for is called prostitution that's i wasn't going to go there but dave did so yes nicholas these aren't your friends so to put it in perspective um when me and my friends this is just five six seven years ago we got together and we were all trying to tighten up things financially and so we had fun at the house bringing leftovers over and you know there would be quarter bottle wine and a half two liter bottle of diet coke and a half eaten casserole and we didn't care we called it rotisserie we just rotated friend's house here's the deal we made it work why those are my closest friends in the world and friends who say oh you have a goal you're trying to better your life and we don't want you around then uh sucks to be you man we're going out without you are sending you very clear signals that they're not your friend so how do you say no i hate to tell you this but you say no and then you have to do the hard work of trying to find some other friends man yeah if um your friendship is based on the activity of hanging out it is not a real friendship right and so you've got some work to do on how to build actual friends yeah um because you you know i feel terrible saying no to my friends at 60 years old also but not for those reasons it's it's if a friend of mine you know has something going on and i really should be there but i can't because i've got something else right i can't be present but it's not uh uh and so i feel bad if i can't be there uh one of my friend's mom passed away i couldn't get to the funeral you know i was in the middle of something else i couldn't go and i felt terrible for that but that that's a different kind of a thing then i don't have the money to go spend money because the only way my friends want to hang out with me is when we're spending money at some club in an example in my life very similar is i had a buddy called the other day with a great real estate opportunity said hey me and another friend of ours we're getting in on this we want you to pitch in and it wasn't a part of my plan for 2021 or 2022 and i'd said or ever well i mean i wouldn't mind but but here's the thing i told him i can't be in on this one and he said well you're an idiot and then we talked about our kids right he's still my close friend right and so that's the difference between is he gonna love you plus your values not um walk away from you yeah that sucks man yeah there's a uh reading your sentence structure and the way you went at the question tells me that there's a shallowness to uh your connectivity to these people you call friends yep and so let's deepen the connectivity so let's get a few of them that are real friends and fewer hangers on there you yeah yeah that deal hey folks if you're like me drive time is podcast time and if you listen to podcast you're going to love this the brand new ramsey network app is like a podcast player with all of our shows in one place so you can get the dr john delony show you can get the anthony o'neil the table with anthony o'neill show the dave ramsey show the chris hogan show the rachel cruz show the ken coleman show christy wright show entree leadership the call of the day podcast all in one place and you can browse by topic you can save your favorite clip and you can share them with your friends and you can get better in every single area of your life to money to career to business to leadership it's all there mental health even never again should you struggle to find the education the empowerment you need to improve your life download our ramsey network app in the app store just search for ramsey network yep one more way you can get dr john doloni you know what the world needs man i'll tell you what ryan is with us ryan's in san antonio hey ryan how are you i'm doing all right you sir better than i deserve what's up uh i'm not sure if y'all are who i need to talk to but i just i'm 60 years old and didn't do any good planning in my earlier years and getting to the point where i don't know that i can keep on keeping on and i was just needing somebody to talk to and i thought maybe y'all could line me up with somebody well man i appreciate your trust um tell me what's going on i just getting old and tired and hurt all the time it's just hard to go to work every day what do you do i said i do uh i work maintenance okay where do you work maintenance what type of facility uh it's a state uh it's a state park okay wow how long you been doing that um going on nine years now okay all right so i can hear in your voice you things are heavy man well it's just talking on the radio like this is kind of stressful oh of course yeah yeah i feel it man so why when you say you're tired that means a lot what do you mean i just i don't physically i just don't get any rest and it's hard to get up and get going and just i hurt all the time i mean this is not stuff y'all i mean the financial part is i didn't plan good so yeah i don't have a whole lot to fall back on so what do you make what kind of income uh i think gross about 40 000. cool are you married no okay was once a long time ago okay sounds like that you can fix anything to me okay can you uh if i called you up and said hey my dishwasher's out i need you to come check it and change it out for me could you do that yeah but it would probably take me twice as long as a lot of folks why because of the physical no because i i i have a lot of knowledge in a lot of areas a little knowledge in a lot of areas and i can get things done i've worked with enough people to know there's a whole lot of people who have a whole lot more skills than i do [Music] so let me ask you this are you i'm go ahead i'm going to no you go ahead i i think well let me tell you what's running through my head okay um i know a guy that is a handyman for a living has a little business called handyman and he goes and just does miscellaneous stuff for people in their homes and even small offices and that kind of stuff and he'll show up at your lake house and fix your whatever put that gutter back up or make sure it gets put up or get get a little subcontractor if he needs some help and um and you know he's making like a hundred a year but he can fix anything or figure out how to fix it and um and he doesn't overcharge and he always shows up on time and does what he says he's going to do but uh it's so freaking dependable it's unbelievable i i got the last part covered about the independable and i'm not a people person i don't you know i work where there's a lot of people but i'm not so here's the thing ryan my guess is you talked to my friend ryan from san antonio in a voice that if you heard somebody talking to a woman at a grocery store you probably knock their teeth out the back of your head because when dave ramsey compliments you your first thought is to deflect it you know i'm thinking of you right now i'm thinking of what covet has been for millions of people and state parks have been a place where people could go be humans and they could go get together i could get my kids together and we could go outside and see other people and wave and see pets and see dogs and all those things and you just slump your shoulders and see i'm just doing this and so and still until you start treating ryan with the dignity and respect he deserves you're not going to be able to hear compliments you're not going to look in the mirror and be proud you're not going to be able to go see a doctor and get your physical stuff taken care of you're not gonna be able to go have the humility to see a counselor and get the help you need there but i want today be to the day you start talking to ryan and hang on i'll tell you what we're gonna hook you up with our career guy ken coleman yep and see if he can't give you some guidance in helping you move to the next stage on your career because you do need a new career you're physically tired of it this is the dave ramsey show [Music] [Applause] [Music] [Music] so [Music] [Music] dr john deloney ramsey personality is my co-host today open phones at 825-5225 michael is in sacramento hey michael welcome to the dave ramsey show [Music] hi dave um i've just got such a predicament i've i'm 54 years old i've got um my primary residence i've got so much credit debt i've got about 10 000 credit card debt but i probably have about 300 000 dollars total in non-mortgage debt and i just feel like i'm spinning my wheels and i don't know what to attack first i just i just feel lost what is the um what is the other 290 000 the other 290 000 is between student loans uh lines of credit uh loans that i had to take um when i got divorced about 12 years ago to um i had a house that we were going to it was we were trying to sell and i told the bank that if you let me sell this and not go to foreclosure i will take on that loan as a personal debt because i pay my bills so i did that and i've been paying on that ever since so um and then a variety of other ones how much is that um that loan is fifty thousand dollars at four percent okay and how much is the student loan cars that student loan is uh sixty seven thousand and the cars are what the cars total uh ninety yeah ninety thousand two cars and what's your household income uh 170 salary and then i just recently had an opportunity which i started to make an extra 3 500 a month okay over time that's going to be consistent excellent so 210. i have a pension and and what is your home worth my home is worth uh 900 000 and i owe uh sale 575 on it what do you do for a living and i have two round properties i'm a physician assistant okay and you have two rental properties in that and what are they worth uh let's see i have one in montana that's worth uh 300 310 000 and i owe 230 000 on and i have one in idaho that's worth uh 325 000 and i owe 330 on it and then i have a pension of 600 000 that i can have once i'm sewing 11 years or i can take uh that's lump sum where i can take 3 000 a month annuity okay so um how much do you want to be out of this mess really bad or just or it's just sort of bothering you no i've lived like this my entire life and when i got divorced i mean i still the other part are you ready to get your life back i i've been ready for a while because you need to really be ready because i'm getting ready to sell everything in your life i'm i'm ready i mean let's sell both rental properties in both cars this week so sell all three properties no the both rental properties and both cars yeah okay all right get you two five thousand dollar cars you make 210 000 so now you have now you have um not you have your home and you will have 210 thousand dollars left minus so you're gonna have about 150 000 left in debt and you make 210 and you're going to pay that off in two years the only problem is i just got these properties six months or a few months ago and out there on a more exchange i don't care and i'm gonna be taxed heavily i don't care doesn't matter all right your life sucks you're drowning man yeah you have so much crap in your life that is not producing joy well if i can tell you one more thing i've got an alimony of 2 000 a month that's never going to go away until i die okay that's 24 000 out of 210 that doesn't keep us from getting out of debt right so 24 and 75 is 100 out of 210 you're gonna live on 210 and you're going to be debt-free in two years and you're going to sell everything except your personal residence okay so if i listen i'll tell you what i'm reacting to i'm reacting to the tone of your voice when you called in you sounded so overwhelmed so despondent so stuck that it sounded to me like you were willing to do almost anything and that's where i am that's where i am i think you should do i think you should feel that way because you feel like there's 12 freaking years this stuff's been hanging around your neck and you make all this money and you're a pa and you can't get traction you are so freaking stuck it's unbelievable and you can't breathe and that's what i heard did i miss something nope you nailed it and every time you walk into that hospital to help other people you've got 14 cinderblocks in your own backpack is that fair yeah at least brother you got to set that pack down you got a bunch of crap in your life man put it down man just stuff 90 000 worth of cars yeah jesus who who are you who are you impressing man i know i'm not asking that in a jerk way but there's something in you that says i need a million plus dollar house and these well i mean he's in sacramento yeah that's a three two and two expensive cars and two homes that something's telling you that you're not good enough man what is it yeah you know that this didn't happen all at once this has been you've this has been death by a thousand cuts layer upon layer upon layer this stuff is built up and then it never goes away so it's a cumulative effect i'll solve it 12 years ago thing we got a student loan that's still hanging around after all these years uh we then we go buy cars and now we roll these houses into a 1031 so you're gonna get hammered on taxes out the backside so you're gonna have 100 000 in taxes probably yeah i'm gonna have a lot 15 of what what was your what do you think your gain is that you rolled into these my gain will probably uh because i put uh eighty thousand down on one and seventy thousand down on the guess that's not what you put down has nothing to do with the calculation of your gain how much capital gains did you roll into this 1031. i was i was told my taxes will be uh if i were to cash out about fifty thousand dollars okay good that's right less than i thought that pretty good it's only 50 grand this is the price of cleaning up your life yes so i you know basically you're going to get enough out of these properties to pay your taxes and be free so that's a wash we're gonna sell the cars for close to a wash and so now you have two hundred and ten thousand dollars left i was wrong earlier it's not 150 because of the capital gains bill i said 160 150 but it's going to be 210 i didn't have 50 000 capital gains bill in there but now i do so you're you're still you know so how fast do you pay off 210 making 210 three years at 70 grand okay and that means you have 200 it means you have 110 000 to live on after you pay alimony and 70 grand towards debt for three years and you're 100 debt free how old are you 54. you won't be debt free when you're 57 this is how you do it okay i just want to make sure i understand so both cars sell both rental properties and then hit your plan hard nothing else complete focus like i'm so pissed off i am so sick and tired of being sick and tired that i have not only sold this stuff i'm gonna sell two of the kids if they don't hide i'm just gonna have to get my wife to buy in hopefully i won't be too hard yeah well i mean does she want her life back ask her if she wants a husband that can sleep a full night of sleep can breathe yeah a husband that can walk around the neighborhood without his head spinning without having to grab his phone every two seconds yeah they can wake up with a smile on his face we call it financial peace that's what we call it and you can do this man you can do it but it's just a matter of if you want to if you get sick and tired of being sick and tired that's when you change your life man if you can get through pa school and if every day you can walk into that traumatic situation and heal people you can do this i know you can't do it just are you ready to be willing to go because there's a completely different groove we're going to plow down the middle of your brain yeah to get your brain to function differently because you've been running through you've been running the great american mess and if your wife can contribute to this too you can get done even faster yeah we yeah yeah so i mean the only thing i did the only thing i did to her sell her that's all i did and our montana house i guess but oh well you're costing us the idaho house dave but oh well z yeah that's that whole mean dave ramsey guy hey man you can do it i believe in you my chest is tight for him man i felt it i feel it it was in the air this is the dave ramsey show [Music] [Music] welcome to the dave ramsey show you can be intentional about your character you can have money and a career you are the hero in your [Music] story live from the headquarters of ramsey solutions broadcasting from the dollar car rental studios it's the dave ramsey show where debt is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice i'm dave ramsey your host dr john deloney ramsey personality best-selling author is my co-host as we take your calls about well your life and your money so dr john's here which means we talk about your life in any way you want to having to do with your boundaries with your family or anything going on mental health wise we're here to help and of course all the stuff about your money and how those two things interact is somewhat hilarious so triple eight eight two five five two two five that's triple eight eight two five five two two five david is in tucson arizona hi david how are you hello david dr john i appreciate your taking my call our place i don't know if you've noticed but uh some of your principles differ a little bit from conventional advice stop it dave crazy i love it my questions are about investment mix yeah you talk about growth aggressive growth uh growth and income and international and some of those aren't the terms many others use so i was hoping you could characterize those a little for me but the big question is it's all stock nothing else mixed with it how does that change related to age and goals and particularly as you're starting to get closer to retirement yeah really really good question and uh you're right none of those things line up with um conventional uh wisdom it does mostly it's about a 90 overlap but there's enough uh nuanced uh that i don't agree with with traditional financial planning theory that they all stay pissed off at me all the time um and write write nasty blogs and stuff but anyway so let's go back to the first question an aggressive growth fund is also called a small cap cap means capitalization in the financial world so a small company small company fund okay and that's your your startup companies uh your tech companies volatile wild that's the aggressive growth stock mutual fund okay sometimes they call it an emerging market fund too okay so that's the aggressive the international obviously means overseas stocks or foreign stocks and sometimes you'll see it called that it has a kissing cousin called a uh a global fund and so if you think about the whole globe like he's got the whole world and his so it's the globe okay the whole globe right and so that means it's got u.s stocks in it too it's not just overseas or not just international a pure international has no u.s in it no american companies in it and so the global funds typically outperform the international funds because american stocks typically outperform the rest of the world by and large as a whole okay now then a a a growth fund is also called uh you know it's just a middle of the road an index fund an s p 500 fund would qualify as a growth fund but it's just a company that it's a it's a mutual fund that has stocks in it that are growing so it's kind of mid-range mid-cap fund it's also called the uh the growth and income will have a few bonds in it a lot of times but it's mainly huge companies uh so sometimes called a blue chip fund and or a large cap fund the other end of the spectrum from the small cap so this is uh alcoa aluminum general motors boring most of the time compared to a little startup company on the other end of the spectrum that's going zoom zoom or not and back and forth and very volatile and all over the map so that's the mix that we recommend then uh and that's that's a question that's the an answer that's great for the whole audience to hear that's why i'm taking a little extra time with it then the uh the the second thing part of your question is the the allocation theory which is that as you get older you should move from equities or stock type mutual funds towards bonds and money markets to get safer and safer as you move towards retirement and that's the theory of financial planning i don't agree with and i'll give you my basis for my disagreement okay it's called common sense so here's the thing so if you get to retirement and you have half a million million and a half in your 401 k something like that even 300 000 you're likely at 65 never going to touch the principal you're going to only live off of the income that it creates you know unless you just want to drain the account down now if you want to drain the account down then you can change your allocations based on the fact that you're going to use the money but if you are 65 years old at retirement and you are healthy statistically the average death age of a male in america is 74 of a female is 76 right now however if you make it to 65 and you're healthy statistically you're going to make it to 90. so you have 25 freaking years in order to outpace inflation and so if you follow these stupid allocation theory and you move all your money into underperforming items that are say quote unquote safer then you're going to make no money for 25 years and inflation is going to kick your butt and so i'm 60 and i'm 100 invested in the four types i talked about as far as the stock market goes i don't have any bonds other than if they sum in my growth and income funds there might be some bonds in that but i don't i don't i don't buy bonds i don't have i'm not moving towards stocks because i'm decrepit and old at 60 years old no i got 30 freaking years it's like talking to a 30 year old and saying oh be conservative because you're going to be 60. it's the same 30 years from 30 to 60 as it is from 60 to 90. the only difference is is that everybody freaks out and says oh my god you're old so you have to get really super safe now drop all of your performance down to nothing and let inflation be higher than the performance of your portfolio and kick your butt it's absolutely asinine it's an asinine theory but the financial planning communities like a bunch of lemmings sometimes they just follow each other off the cliff whatever one of them says do they all go do and no one stops to question that the emperor has no clothes except me and then of course i have blogs written because i said the emperor is butt naked so uh it's a bad idea it's a bad idea now if you've got money that you want to access and you're going to tear the principal down in the next five years then yes get more conservative and move out of equities but if you're going to live off of the goose you want to keep that goose good and fat and let it keep growing and outpacing inflation and that is what i'm doing which you know and that's more than many financial advisors can say yeah yeah i can't tell you how many financial advisors dave i've sat with and said i want you to give me the exact portfolio breakdown that you have for your family and the response is almost universally well you know see what we're doing here is this uh nope what ever you're doing with your family is what i want to do in my house yeah i don't i've never told somebody to do something in 30 years of doing this that i don't do yeah i never asked somebody live debt free and then i was borrowing money i don't have a super secret double back flip family partnership limited thing to it's a trick that the secrets of the rich that nobody knows about nope just got real estate no debt that's boring money and mutual funds just zero sex appeal pretty comfortable with that [Laughter] pretty comfortable with that yeah that's that's that's the new t-shirt dave ramsey zero sex appeal and i'm good with that yeah 700 several hundred million dollars i'm good with that all good pretty good with that uh yeah so that's that's the thing man just are you gonna outpace inflation and that that's where the theory breaks down this is the dave ramsey show folks it's an honor to tell you about the army national guard not only are they big supporters of our high school curriculum but they also give you the opportunity to impact your local communities whether your goals are to get an education serve your country or have a better life the army national guard can help get you there plus they offer unbelievable financial benefits secure your future today visit nationalguard.com to find out more [Music] if you feel like you will always be stuck paying off your debt i got good news you're not we're going to show you how to get out because you will have extra money when you get out your most powerful wealth building tool is your income and when you don't have any bills you're ready to go baby it doesn't have to be this way you don't have to be stuck it won't take nearly as long as you think with ramsey plus we'll kick you off with 90 days of guided help so you can put more of your money back in your bank account you're going to get practical ways to get small consistent wins every day that then add up to the big results and all new better habits right and that means you're going to get where you want to be faster debt free building wealth outrageous generosity to start ramsey plus for free which of course includes financial peace university and includes the every dollar app premium version everything is in ramsey plus if you want to do a free trial text the word trial 233 789 text trial 233 789 mark is in providence hey mark welcome to the dave ramsey show hi dave how are you better than i deserve what's up i have a question what are your thoughts about investing with family members my siblings uh there's seven of us in a plot of land you do not own the land the family doesn't own the land and all seven of you are going to go together as partners to buy a piece of land that's the idea yes it sounds like seven opportunities to be angry that's what i thought yeah i can't say no fast enough or loud enough to this tell your family you love them so much you can't let everybody do this just asking from i mean if it was just you and one sibling it would be fraught with danger with seven you can virtually guarantee it can't you maybe i don't know yes i can can guarantee it what what are seven people gonna do with this land it's more for maybe uh recreational purposes and if possible if a long term would be a long term uh maybe developing purposes so let me tell you what happens it's called the ds okay the d's will kill you let me let me give you some of the d's drug use divorce disability death disinterest default i don't do my part dummies they don't i'm just trying to help man i don't know dogs these things these d's will destroy this and destroy your little plan and your nirvana that you've got in your head that this is going to be i you you're asking what i think i wouldn't do it and uh i would recommend that you not do it strongly as i possibly can i've i've hunted on shared hunted land before and inevitably somebody's brother-in-law has a friend who says hey nobody uses this place on tuesdays it's cool man and then they go and get shot at well they do something stupid and then it turns into a thing into a thing and who took out to this and didn't air up to that it's just a mess and everybody's got good intentions on the front end of it it makes sense it's going to bring us together we're going to have this thing in our family line forever until one person's going to build on it and then they're going to get a coalition and they're not going to let it just is a mess you know junior wants to sell his part out yeah i'm done i need the cash and sister gets a divorce and now you're now you're partners with her ex right because the door because the judge gave him your portion yep and you bought your brothers and your sister just gave you hers and now you're going to war and it's just not worth it it's just this is this is the stuff i've heard for 30 years that's why we have public parks go recreate there yeah they're fun or buy your own little track of land yeah oh there's an idea drake is with us in columbia south carolina hi drake how are you hey i'm doing well how are you better than i deserve how can i help um so i'm a 16 year old i'm still in high school obviously i have about three thousand dollars saved up i just got my first car uh for about five hundred dollars it's worth about four thousand my mom's frank gave me a very generous discount very cool and um take dual enrollment courses through through my local technical school and i should finish my associate's degree in computer science before i graduate high school yeah way to go man thanks i was just wondering what my next step should be because i know i don't really have a consistent income right now i do have a job um but as far as the baby steps go what should i be focusing on or should i just be educating myself in general um well you are way ahead of the game young sir you're you're you're on fire you're obviously got a game plan overall what we teach folks is even if you're super excelling like you are while in high school and while living at home is the baby steps really don't apply except i you know we have we teach teenagers in the high school curriculum to have a 500 emergency fund to still be on a budget and they've got some steps that that we use in the high school curriculum but we don't uh the the actual baby steps we talk about here on this show wouldn't apply until you're ready to take a job and leave home and that maybe after you graduate that you want to go in the technical world and so you go straight out of high school with your associate's degree into the technical world and so you may be you know 18 19 years old on your own and doing your thing and then you'd work your baby steps at that point but as far as our plan goes that's what i would do but man he's on fire yeah one thing they've challenged me on this i always want 16 year olds to remember to be 16 too i want kids to remember to enjoy their life if if it's a life worth enjoying if you've got friends you can hang out with and throw a ball with or there's a almost a barbell i'm seeing with kids who just have cashed out already 16 it's like the life's gonna be over it is what it is then there's another crew that are just so focused on what tomorrow's going to look like in the next day and the next day and then what's next what's next you just forget to be present and just enjoy being 17 right well yeah hyper performance on goals that on overachieving right goals early and to the point you car you don't leaving carved out room for now that's exactly right yeah that don't know challenge on that i like that i agree with that there's something about i mean i worked my butt off when i was in high school i didn't because i liked making money i did too and i would just i would because i wanted to buy something yeah uh and but also you know had all the high school experiences as well um some of those i wish i could have back i wasn't gonna say that they're not free for that they're not great but there's something about being 17 and being hanging out go to the lake go fishing go do some stuff that are fun man because the the responsibilities once they hit you man they don't ever stop and at the same time man you are a great influence i'm glad you're growing up to lead the world that my kids are going to grow up into because we need more hearts and minds like yours drake you're killing it dude it's awesome very well done washington dc jeff's calling hi jeff how are you hey thanks for having me on the program dr laurie thank you sure how can we help so i uh knew uh a new listener i kind of found you guys yesterday a friend pointed me in the direction when i was complaining about debt and being in debt and um he said he sounded like that guy dave ramsey and i said ah was that the guy at your wedding that didn't like him um he said no no he got the radio the other the other dave yeah the other day so uh here i am calling the other days um and and looking for a little advice there um so i uh i bought a house um and then i moved and when i moved back to the area i love my tenant so much that i bought another house which is probably stupid and then i thought i was moving so i rented that house out and now i'm moving in an apartment with two houses and four hundred thousand dollars in bed so i don't really know what to do won't you sell them um yeah that's kind of what i was calling to check and see if that's the right thing to do i just didn't know none of this what you described to me happened by default not by plan yes these houses are like left over from plan changes they weren't caused by i plan to live have two rentals and live in an apartment so you ended up with them by accident so get rid of them on purpose that's what i would do if i woke up in your shoes i like rentals i mean i want a bunch of real estate i want you to have that if you want to own it someday but i think these two things own you right now taking up way too much of your headspace and way too much of your money and and you're really not making that much on them you ain't getting equity so if i'm in your shoes i'm dumping both of them start my life fresh clean slate baby wipe board here we go game on this is the dave ramsey show [Music] [Music] what makes our show unique is that we genuinely care about our listeners we're intentional about choosing the best advertisers to recommend blinds.com is no exception they offer high quality window treatments at unbelievable prices and they make it simple to shop blinds shades and interior shutters with easy online ordering free shipping and a guaranteed perfect fit go to blinds.com and take advantage of this week's special savings [Music] [Music] dr john dolone ramsay personality is my co-host today open phones at triple eight eight two five five two two five you jump in we'll talk about your life and your money laura is with us laura is in new york city and it says on my screen miss laura you're debt-free congratulations yes sir way to go how much have you paid off 34 732 dollars in five months wow and your range of income during that time um my base salary as a teacher is 65 000 but i was able to kick it up to 110 000 with a whole bunch of side hustles good for you what kind of debt was the 35 000 well very normal loans um i had a leased car um i had cell phone bills you know a little bit of everything so you're just like a normal person bro completely broke yeah way to go so what happened five months ago that let you on fire well it was um i actually found your program march 6 2020 and had a nice even plan to pay everything off by 2022 paying minimums on things doing extra stuff you know i wasn't ready to go gazelle and well you know what happened um march 12th i heard there was a pandemic hey we were hey laura me and dave were there we were in manhattan when it looked like a zombie movie we were we were in manhattan doing a press event and and they shut new york down it was like a fictional movie never forget that as long as i lived like a zombie apocalypse you might have heard just a minor inconvenience yeah his name's cuomo oh my god it was unbelievable yeah so so you shut up so then you got you got you got your face slammed in the pavement then what'd you do um well i stood back up and i said well all of the things i had relied upon were not guaranteed so i needed another way and your plan was the way and a lot of doordash and instacart was away i worked about 70 hours a week every single day i traded in my leased car for a cash civic and i'm super proud of it now i love this girl i know how old are you i'm 32. hold on you weren't just door dashing and all those things on top of a regular job you were doing it on top of a teacher's job which is go to school stay at home put this on zoom hey don't everybody take it off we're just going to mail our things i i talk to teachers every day literally where they're just breaking down into tears collapsing i can't do it anymore and then you would get off the last zoom call with that last little kid and then you'd go hit the streets to make more money how did you do this it's a coping mechanism ah there you go working yeah work as a coping work therapy i like it i'll go with work better than work therapy's better than retail therapy yes it creates income rather than outgoing i'm gonna tell rachel cruz that that's right for sure i'm so proud of you lauren you're incredible laura so when your friends go oh my gosh girl you doubled your income in a pandemic and got out of debt in five months because you went bananas if you lost your mind what do you tell them the the absolute must do to get out of debt is what is it you got to do what are the things you have to do to get out of debt wow um don't listen to anyone that says you can't there's a lot of messaging in our society a lot of millennials feel like we'll never retire or buy a house and in a year i've learned i can do that and will do that and much more than that hey will you run for president in 24 goodness no wow that's amazing don't listen to the messages from the culture that says you're a loser that says you can't yeah so who do you teach um i teach middle and high school students music good i'm glad you're out there spreading amen positivity and amen man i'm so happy you're there so proud of you how does it feel now that you're free it feels lighter and actually yesterday dave i just filed my taxes and filled up my emergency fund who was your biggest who was your biggest cheerleader i have a few pastor dan barton was my financial peace coordinator he's amazing he's out in arizona really dedicated to the program fantastic man amy green is a financial peace coach and i spoke with her over the summer as well she's wonderful um and you know my family and my boyfriend yeah and your family and your boyfriend everybody cheering you on and yet there are the negative messages and voices out there that you just have to tune out and you did it you did it you did it you did it you did it did you ever i mean yeah i mean when you started you it's so funny that you started kind of ish and then like the pandemic is what fired you up yeah so instead of putting it down the challenge caused you to rise up absolutely yeah that's just the way you're that's where you're put together kiddo man you're amazing hey laura i'm laughing and cheering you on kind of glossing over it it was downright scary when you experienced this wasn't it it we were there in new york it was scary that was awesome oh absolutely yeah we were like we got to get to the airport and get out of here these people have lost their it was everlasting it was scary and what put ever put the listener who's driving their car right now they are doing another load of laundry with earbuds in and they are exhausted and they don't see life in the tunnel you were at literally at ground zero of this thing as it spread throughout the united states what would you tell that person who's terrified and scared and exhausted every everything seems darker when you can only see a foot in front of you but you you can trust in yourself and in god if you believe in god and in the people around you and there's a there's a light at the end that you can't even see you don't even know it's there and it's not keep walking keep walking yeah right good for you we got a copy of uh chris hogan's book for you everyday millionaires there's no question that that's a chapter in your story coming up you're an amazing young woman i'm so proud of you very very well done all right it's laura from new york city 35 000 paid off and get this five months wow five months as a teacher five she got rid of her lease car she's driving a paid for civic she's door dashing she's instagramming she's a freaking rock star 65 000 almost doubled her income up to 110 with the side hustles she kicks butt and takes names in a city they're not even allowed to work in and she did anyway because somebody's got to deliver the freaking food and take care of those kids way to go laura count it down let's hear a debt free scream three two one i'm dad free what a hero dude dave yesterday me and my wife sat down and we came up with this with our schedule for for knocking our mortgage out and this person just poured some gasoline on that fire man you're just gonna go home and up the schedule dude i i mean what are you how are you gonna have any excuse after listening to that you know but but you know what she did you got nothing she's got a lease car she can't afford you know what she did she didn't freaking hesitate she got rid of her she axed that thing yes got a used civic you know what she did with the civic doordash yep you wanna shoot with a civic instacart yep you know what she did she she showed up and taught anyway you want to know what misery is it's teaching middle school kids online music lessons [Laughter] you think your job's bad try doing all day just try teaching middle school middle school music online and then going all right now it's time to really get after it after hours and then you get up the next day all right timmy get out the vile freaking lynn here we go again and then your door dash and then you go get laura what a stud man man and this is amazing this is dave my mind's blown because you're not even allowed to work in new york and she didn't listen to the negativity the honor and instacart are there those those are essential jobs so i'm so proud don't get me started but what a story man she figured you figure out a way what a story i'm gonna live my life in fear and am i gonna live my life being told i'm not gonna leave the messages i'm not gonna believe the messages i don't like normal normal sucks i don't be normal anymore she just declared it five months boom over love it this is the dave ramsey show [Music] [Music] [Music] so [Music] our scripture today ii peter 1 21 for no prophecy was ever produced by the will of man but men spoke from god as they were carried along by the holy spirit abraham lincoln said things may come to those who wait but only the things left by those who hustle i like that that's good dr john deloney ramsay personality is my co-host today open phones at triple eight eight two five five two two five dr deloney and rachel cruz will be doing a money and marriage live event live streamed on february the 12th at 7 00 pm it is our valentine's event february the 12th you can get tickets of course at daveramsey.com event be sure and check them out they're only 20 dollars so you ought to make sure you make sure it's good it's going to be awesome that you're ready i mean that's like a week from friday right it's gonna be good yeah i would i would take my wife on a date to this event which means we'd just go sit on the couch and turn the tv on and we we'd get some food and it's it's gonna be an awesome event i'm looking forward to it there goes the live stream love it all right annie's with us in concord new hampshire hi annie welcome to the dave ramsey show hey thanks for taking my call um my husband my husband and i are thinking of leaving the east coast and moving on to my family's ranch in montana cool and we're wondering yeah we're wondering if we should sell our house here in new hampshire or if we rent it no you sell it you sell it because we'd be 100 debt-free but we'd be living in an rv on land we don't own it's okay sell it sell it yeah okay and then develop develop a plan where you're not living in an rv long term on land that you don't own well that's another call that you don't have time for right now i mean you need to develop a plan that does that because you don't want that that's like it's an okay short term thing but you don't be 10 years later still living in a van down by the river i mean that doesn't that's not a plan so but you don't want a long-distance landlord from montana to new hampshire that's a good way to have somebody change their harley oil in your living room yeah well we i'm eventually going to be inheriting the land okay that's fine but i'm just you're not coming back to new hampshire and you're not a long-distance landlord if you were living in montana you would never go hey let's buy rental property in new hampshire no you'd never do that that's that's not a good plan i think that's the first time in the human language that sentence has been uttered you know what honey now that we're in montana let's buy some let's buy some property over in new hampshire yeah one county over john's in pensacola hey john how are you good dave how you doing better than i deserve how can we help so what's the situation real quick around about your test um so my mom was 65 my dad passed away about five years ago from cancer and my mom is living off of uh social security a little bit of what he got from the navy's retirement and then a smaller retirement from his civilian job um she still has a mortgage on her home i don't know the exact amount it's roughly like 120 130 and her house is in need of pretty serious repairs he didn't have any life insurance so that he did have life insurance this is where one of the big issues comes in mom she had about 300 000 when he first died minus funeral costs and stuff that is all gone now um through just buying random things she didn't need she bought a brand new car and admittedly she gave it to some of the family members which you know now i look back and wish i had never accepted it but i was you know younger and not as wise with my money um so it's just my sister and i and i'm trying to figure out how to help her but the problem is that she doesn't like to talk about it she doesn't want our help basically but she needs it i guess this is what i'm trying to say man i when you say she she doesn't want your help when you're talking about your adult parent this is hard to hear but she doesn't want your help um yeah have you sat down and tried to have a pointed conversation with her or is it the normal kind of a aggressive kind of walking through the kitchen he kind of things have you sat her down and said hey mom we need to do some math on this yeah well so so currently uh my wife and i live in pensacola i'm in the navy um we're from virginia so my mom lives in virginia beach and my sister is still with her um so my sister deals with her directly more than i do obviously um i have tried to talk to her about it vaguely and she i don't think she gets angry but she you know she it's it's almost that attitude of like well you know you're my child right you know you should listen to me about stuff and not the other way around yeah it's awesome here's the deal man at some point if i'm you i'll just tell you what i would do i would wait till i have a break and i would let my mom know hey when we come into town we're gonna have this conversation and okay i feel like i need to get all of our ducks in a row and i want to make sure that i can best help you and be a good son and she may say go jump in a lake at which point i wouldn't recommend you doing that but at the end she's telling you we're done with the conversation you can then have a conversation with your sister and you all make plans on how you're going to proceed if and when mom needs additional assistance and support but the hard part is man is your mom's an adult and she gets to make adult decisions and yeah it's hard it's just not against the law to be stupid yeah yeah um hypothetical if she did accept the help what would you in that situation what would you recommend that we do she doesn't have any savings at all right now um you hold on you have kelly pick up and um we'll sign her up for ramsey plus and we'll teach her how to handle money we'll put her on a budget get her out of debt teach her to live on lessons she makes and makes why make wise money decisions including starting to save we'll teach her and show her how as a matter of fact your family can go through it together we'll pay for all of it if you want to and if you can get her to do it and you know what you might do is say hey mom i'm going through this class on how to handle money and i want you to go through with me okay and i really appreciate it there's so many things i didn't that when dad passed away i didn't even know i'm learning all this new stuff i'd love for you to learn it with me yeah one thing you can always do is it's easier to tell your story the things you're doing and the experiences you're having than it is to wag your finger at somebody else and tell them what they shouldn't be doing and just be going mom i'm so i feel so good right now we're on a budget we're getting out of debt i feel in control i felt stupid and i felt insecure and i felt out of you know weird and everything else and man i got to tell you and i want you to go through this class with me i'm gonna i've got it set up so you can go through it free and so you can start learning some of this stuff because man it's changing my life and yeah and not mom you're so stupid and you you burned through 300 grand you need a class that's right you know that's not going to work because she is going to go i powdered your butt and i really don't need your opinion that's right the powder butt syndrome kicks into gear bridgette is with us bridget's in savannah georgia bridget i'm short on time go straight to your question okay dave we're at the point now where we're only owning about 20 000 on our house and we just sold a property and it brought in 35 000 however recently right across the street from us because we're out kind of rule the guy just started bringing in a bunch of old mobile homes and we're not in a position to sell i mean to move or anything do we just pay it on off and what do we do at this point why are you not in the position well my husband lost his job with no covet situation and he just got a job like two weeks ago yeah but i mean we got here you got a paid for house what would the property bring if you sold it well it was valued at 210 why can't you take 210 000 and go buy something else we got two kids with cash flowing in college so it's kind of what's that got to do with it start it you got 210 000 in your hand because you just sold your house why can you not go buy another house with that well i guess we could and i just didn't know what to do without talking today yeah well i mean i'm not telling you you got to move but if the trailers are going to muck up everything across the street you got to get out of there right right right you don't want to live in the middle of that is the neighbor somebody you can pay that off it doesn't matter because you're getting ready to sell it yeah is the neighbor somebody you can have a conversation with well i'm not really sure he's from florida and so it's we all live on like five or six acres of peace out here and so he just came in and purchased and start bringing in mobile homes out here so yeah i've i've got i live i live in a similar situation and i've got a couple of neighbors i can talk to and a couple that i can't and if it's somebody you can go knock on their door and just get to meet them and see how they're doing it may be a great conversation to have before you go run and sell your house yeah but i mean he might be parking them there for two months and then going to move them back out that's right you may probably ought to find out the details of what's happening that's not a bad plan but bottom line is nobody said you got to stay if the neighborhood's going to go bad you don't want to stay that puts us hour today ramsey showing the books we'll be back with you before you know it in the meantime remember there's ultimately only one way to financial peace and that's to walk daily with the prince of peace christ jesus [Music] you

Channel: The Ramsey Show - Full Episodes

Views: 53,736

Rating: 4.9114389 out of 5

Keywords: dave ramsay live, dave ramsey, dave ramsey channel, dave ramsey live, dave ramsey live show, dave ramsey live stream, dave ramsey podcast, dave ramsey radio show, dave ramsey show, dave ramsey show full show, dave ramsey show live, ramsey, ramsey solutions, the dave ramsey show, the dave ramsey show live

Id: yqMCTSnJ6Y4

Length: 122min 50sec (7370 seconds)

Published: Tue Feb 02 2021