Snowball Your Way to Financial Freedom!

this is the ramsay show you can be intentional about your character you can have money and a career you are the hero in your story [Music] live from the headquarters of ramsey solutions broadcasting from the dollar car rental studios it's the 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 ken coleman ramsey personality radio host and best-selling author is my co-host today you jump in we'll talk about your life and your money the ken coleman show is all about careers jobs getting one getting a better one living in your sweet spot but doing something of purpose that matters and i can can answer questions about all of that kind of stuff so you jump in and we'll talk about your life and your money and your jobs and your career as part of that equation triple eight eight two five five two two five is the number that's triple eight eight two five five two two five aaron is in new york city to kick us off this hour what's up aaron hey thanks so much for taking my call sure how can i help so i am on baby step two i have about 6 000 in credit cards and a car that's about ten thousand owed and i am coming into some money about six thousand dollars from a bonus for my job and i was curious if you would consider selling the car i make about 40 000 a year or if you would just use the 6000 to pay off the credit cards then pay off the car b yes use the 6000 pay off the car unless you just hate the car but uh uh the car the car is not an unreasonable car given a forty thousand dollar income a ten thousand dollar car is not an unreasonable car okay we do i i take it you're single from the language you're using yes okay and so that is your entire household income is 40 000 and you have a 10 000 car correct yes yeah we tell folks don't have anything with motors wheels or anything like that added together that equals more than half your annual income because anything with a motor in it uh goes down in value and so if all this stuff adds up you know whereas you've got a bunch of dead gum toys in your life and they're all going down in value you don't have to scratch your head and wonder why you're broke we know why you're broke toys in other words toys are fine they just need to be a good ratio to your income i got lots of toys but they're a small percentage of my income and so you're you're 25 of your income with this car so yeah throw your bonus at your credit cards dude uh chop them up continue to work your baby steps knock that car loan out and you're gonna be sitting in a really really good shape really good shape so ken uh the job numbers are you were talking about it before we came on the air yeah and this is a um i thought i knew something i i'm learning i knew nothing i couldn't i could i mean i've got in my mind i've got states that are wide open like our state of tennessee's wide open and then you've got you know the communist state of california where everything's shut down by a draconian governor right and so i figure the entire economy is just sitting on the sidelines sitting on their hands in some of these states and the economy is booming in the other states but you're seeing these numbers coming out the federal numbers coming out across the whole nation blending these different states together obviously in these numbers the job market is really good it's way better than you think and here's the good news dave these numbers say it's going to absolutely explode in the next few months in the next quarter here's where we are right now end of february 6.7 million private sector jobs were posted that's up from 6.1 million at the end of december so as we went into the new year that's how many jobs so we're seeing a nice trend in private sector jobs that are posted all right and here's the way of looking at that eight percent more job openings in february 2021 than there were in february 2020. now some of you are going okay i'm trying to remember when did covet shutdown start really in march in the month of february obviously towards the end of february we were learning new information and things really ground to a halt in march dave but we had negative unemployment in february 3.4 oh we had 3.4 but that's historical that was the lowest unemployment rate in the history of the modern era where they really took uh those those data and they really crunched it so we had the greatest unemployment rate if you will uh not greatest or the lowest the best it had ever performed so now we're seeing more jobs so what we're seeing is the united states economy is creating new jobs so we lost 40 million jobs in the covent downturn that's right but now so what and the unemployment rate today is what low six as well that's what it was reported last month we're waiting on those numbers to come out in april i think you're gonna see those numbers drop into the low fives you might see it in the four there's no way to really predict that but based on so the overall economy from a jobs perspective has bounced back it's bouncing back it's not even finished let me tell you where this is happening dave in the areas of manufacturing pharmacy construction and logistics and think logistics a lot of technical jobs there uh you're seeing 50 growth in jobs so what's going to happen in the next few months i think we're going to get very close to where we were in february of 2020 pre-pandemic where there were more jobs available than there were people were unemployed why is this matter well number one you're getting a steady diet of negative news all the time that the sky is falling out because i mean no i don't even watch the news and i thought it was worse than that no and the second thing is understand folks there are still a lot of states remember california new york new jersey just giving you some examples not a political statement this is a fact they're still not fully opened up and if you look at the hardest hit sector in the american job economy was what we'd call leisure so that would be your bars your restaurants hotels certainly the airline industry they're not back so when we see hopefully a full comeback in the summer i think we're going to see one of the greatest history greatest periods of job expansion that means companies offering more jobs and think of the economy dave and how jobs that didn't exist a year ago i mean to a guy that's out there listening who uh doesn't have a job it means you better be ready and that's why you need to come to my get hired event i just slipped that in there like april 27 no but yeah but i mean does this mean that that guy that's out there doesn't have a job right now he really should be looking and looking different and better because people are hiring and it's almost it's almost full up it's exactly right and it's only going to increase so this i mean when it's three point something or four point something unemployment economists call that full employment yes even though there's technically people not working it's like everybody who wants to work is working and to your some that don't want to work and here's what happens in that situation that we described as last february people will start to pay you more the market value for a job goes up we saw this last year where young people coming out of college were getting paid more than people that were already on the job and experience why because the demand this is a supply demand issue just like in housing or any other commodity supply demand we are about ready to move into a place where it is going to be a really good environment for the job seeker for you to get hired and make more money bigger shovel get out of debt faster and position yourself also works for not only someone who's sitting there unemployed today but someone who just wants to change jobs yes sir a lot of opportunity a lot of opportunity i want to make more money i want to do something different and so getting qualified right now getting prepared for this you've got to have your head on a swivel the job market's heating up and it's going to get better anybody who's intentional about where i want to go why i want to go there what i want to do when i get there all right now's the time now let's plug the get hired yeah april the 27th live from our ramsey solutions studio we're going to have a couple other people live uh multiple tickets live stream anywhere 20 bucks to walk them through how to get hired get clear get qualified get connected so that opportunities knock on your door you can get the job you want the job you need get out of debt and do work you love it's gonna be a great night go get your ticket ramsay solutions.com events tickets start at 20 bucks yeah love to see you there it's a live stream 20 bucks you paid more than that investment had more than that for lunch [Music] [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 backslash [Music] budget [Music] ken coleman ramsey personality again host of the ken coleman show doing the get hired event if you're feeling stuck or disengaged in your current job or you dread getting out of work out of bed to go to work then uh this event is for you get hired live stream event on tuesday 27th at this one night event you'll learn how to get clear on what you do best get qualified for the job you want to get connected you can join ken on tuesday april the 27th to take control of your career and start working toward what you were born to do tickets start at just 20 text hired to thirty three seven eight nine hired two three three seven eight nine our question of the day comes from blinds.com they have a 100 satisfaction guarantee that means even if you screw up or you mismeasure you pick the wrong color they'll remake your window blinds for free free samples free shipping and with new promos all the time always use the promo code the magic word ramsay today's question comes from sam in california he asked my wife and i have twenty thousand dollars saved for a home down payment i currently work in sales but i don't know what career path i want to take in the future should my priority be figuring out the career question while we have money saved or should we purchase a home and hope career clarity comes later well this is going to come down to personal preference on this but i would not necessarily forgo buying the house if you save the money and it's a part of the big plan i would go ahead and move forward on it the only exception to that dave would be when you ask these four questions about getting qualified you know you got to get clear first but once we get clear and that could take some time you've got to ask yourself all right so what education do i need this is not necessarily mean a four-year degree or graduate level degree this could be a certification uh some basic training that would again qualify you to do the work you want to be getting your real estate license could be that there's a cost associated so the education question is the first thing what do i need to learn the second question is the experience question what experience do i need the third question is the economic question how much is it going to cost me if i've got to go get some experience i've got to go get some education and then the fourth question is based on that third economic question is what's my expectation for how long this is going to take that's how we come up with a plan now if sam does this and he he gets cleared he realizes okay i'm gonna need about five to seven thousand to get qualified to do it he's got a couple options they could delay uh putting the down payment on the home and use some of that or they could go ahead and buy the home and then save up it's going to take some time anyway so that's what i mean by it's kind of it depends but in this situation with you not being clear i'd go ahead and put the down payment down on the home uh and begin to get clear take the career clarity guide it'll get you started uh i don't know in the new career but it would be really helpful to have a clue what it looks like yeah so that going to tell me if i'm going to go for instance i mean i think most extreme thing would be like i'm going to go in the real estate business you might make zero money for six months right and you don't want a brand new house payment that's right if that if that's what you're stepping into so that would tell you that's right no but so i think clarity would be very important before you make the decision because that's going to tell you if you need to spend money on education or if you're going to have an income gap while you get up and running in the new gig that's right but once you have that figured out if it doesn't prohibit you if it doesn't use up too much of your down payment money or give too big a gap in your income to make the jump then you can buy the house and make the jump later once you know whether it is you're going and how long it's going to take you to get there that's the key so i think i would do that again you don't have to be in the new career to buy the house but you should have a clue this general vagueness that's right i don't want you walking in frustrated two years or a year after you bought a house and go i quit you did what we have a house payment that's exactly right what'd you do i'm gonna kill you right and then that's where the priority thing comes in it becomes apparent so again those four questions i gave that's after you're clear then you run it out and go what's the plan to get to where i want to go that's going to determine the money question that determines okay do i want the house now can i cash flow my qualifying process and so that's why that works together always get clear that's stage one stage two is get qualified and that's how that works michael is in atlanta hey michael welcome to the ramsey show hey how's it going better than i deserve what's up um so i'm currently on baby step two and i'm starting a process where i do the debt snowball and really wipe out my bets baby step two says you should pay off all debts except for the house using the snowball and in my case i wanted to see if that would be the scenario my debts are probably a little higher than average because i'm running a practice in a business okay so what are you what are you talking about you've got a business debt that you signed personally for it's a personal debt but how much is it ultimately so right now my practice debt is about eight hundred thousand dollars yeah and then my college tuition is about 185 thousand dollars uh college tuition you mean student loan debt correct yes um student loan debt goes in baby step two eight hundred thousand dollar practice goes in baby step six okay yeah so you consider that as part of like the same concept just paying off the home early then yeah yeah and i would call it um here's a here's a kind of a correlation on that if you will although the numbers aren't as many zeros but if you're if you have a home equity loan we put it in baby step two if it's less than half your annual income if it's more than half your annual income we put it in baby step six with the house so pray tell please tell me you have an incredible income with this delicious mess you've made luckily the first year of the business my take home was pushing 250 so luckily i'm producing more than i'm spending and i have the ability to snowball with that okay so um you said practice what you're a medical doctor or a dentist a dentist excellent okay now the most expensive form okay so you netted 250 last year correct that's my net income what do you think you're going to get this year uh i'm aiming up at the 300 but i'm taking a step at a time with covered things going all over the place so we'll see so you're going to try to live on you're going to try to put at least 200 a year towards this mess right that's at least the plan yeah i'm still living on almost a college budget i like that i like that that's hard to do when you're making a quarter of a million dollars a year emotionally but it is the right thing to do and the smart thing to do because you have a large mess to go with your large income yeah yeah but that's a scary number to look at so that's my motivation yeah and i think if you here's what i'd be looking at how stinking wealthy you're going to become instantly when you clear the table on all this debt i mean you got a million dollars here in just student loans and practice it alone and so when you clear that million dollars off the top of your head and you're making three 350 you're gonna make so much money so fast it's gonna be unbelievable but the temptation is to drag that out for a lot of people and that's a huge mistake we've worked with a lot of a lot of guys and gals in the dental world over the years and that's uh it is you guys spend more money than mds do on your practices and on your education it's it's shocking but the good news is you got a good practice that you stepped into so i'm glad for you yeah play through baby play through good stuff wow yeah got to keep the eye on the prize i hope you folks heard what dave said because it's such a huge mountain right but then you gotta go what's it like on the other side of that mountain and and that's when you start piling up money and you go okay how long do i want to be a dentist well 25 years well you know you busted over the next two three years you know four years backs really get after it and you're on the other side of that mountain well it's really fun you know once you get up there and you know i i think of there's a great story of uh sir evan hillary who climbed mount everest the first time and he was with his climbing partner they finally get up there and you can imagine how difficult that journey was way back then he finally gets up at the highest point in looking out and that's really this idea of getting over debt and and if you get so concerned with how difficult the climb is many people fall off but if you're going hey i want to be the first person to summit that i'm going to summit that that's what we're about that's the vision when you get up there here's what's great on the other side of these debt-free screams that you hear on this show people are now looking out they've been looking up during the journey but then when you finally get up there and edmund hillary looked at his friends climbing sherpa partner he said i think that's the next one we're going to climb isn't that amazing on top of the world five minutes later i think that's the one we're gonna climb but now the vision is this way yeah you start seeing different it's a different viewpoint and that's um it is half the battle in the stuff we talk about around here from dr john talking about mental health to money to careers to uh you know all the different types of things we get ourselves into around ramsey so much of it has to do with the view it has to do with the perspective and you know they say that it's easier to make a second million sure it is because you've already done it once and you believe you can do it it's always easier i know i've done it twice because i was so stupid i had to do it twice there you go this is the ramsay show [Music] [Music] [Music] so [Music] ken coleman ramsey personality is my co-host today here on the air this is the ramsey show ali's with us in omaha nebraska allie my screen says you're debt free congratulations thank you dave thank you so much for having me on today i am so honored to talk to you you too how much have you paid off i paid off 29 173.53 very cool how long did this take yeah five months on the dot excellent and your range of income during that time yeah so i was right out of school um i didn't work my senior year and so i was making you know like zero dollars um during when i was paying off debt i made what would have been equivalent to about 90 and then now i'm back to about the average for a nurse like 65.70 so so you just dove in and took all the ot you could get i actually did i had two jobs pulled signs had all kinds of stuff on facebook i was busy busy for five months but so you graduated past your bar and dove in yeah yeah boards i guess i should say yeah okay yep so you what kind of a nurse are you so um my full-time job is in the nicu i am at a level four in omaha and then i do rehab hospitals on the side wow good for you yeah so what made you so fired up to knock this out so fast i mean you're a ball of fire kiddo yeah thanks um so i had a friend posting um on his social media about how he had found you and how your principles are really changing his life and i grew up with a family who um you know we talked about dave i knew about you i had gone to college and honestly for my first three years i was debt free i was on a full ride scholarship but then with my nursing degree i changed institutions from my prerequisites to my nursing school and so my scholarship didn't transfer for my senior year um and it didn't sit well with me that i was going to have to take out loans for that fourth year so i had already kind of been game planning how i was going gonna paid off fast but then i started researching you and reading your books and listening to your podcast honestly obsessively um about christmas of the previous year and um yeah the math initially really was what started the start of the ball rolling and you know once i started out of school two i started having conversations with my patients and patient family members and you know parents in the nicu who were choosing between time with their infant in critical care and going home to their families and their other children and just you know it just it became so much more so quickly once the journey started it was so easy to to catch fire and knock it out so where'd it go man you're on fire how old are you thank you um i am 23 i was 22 when i was paying off all this all of that how's it feel to be how does it feel to be free it's amazing honestly it has um already had such an impact on my future to be able to put all of my money um toward exciting new things you know i am getting married this fall which i'm super excited about um and yes yeah and so we're like excited to have a debt-free marriage and starting off in all of those best ways we've been able to save for retirement you know um it's just it's light you know where a lot of i feel like my peers are concerned about the next steps because there's always the next step and next thing i get to look forward to the next steps and i feel really blessed wow well because you chose a a hard path that ultimately ends up being an easier path you live like no one else so now you can live and give like no one else you're you're an inspiration so what do you tell people the secret to getting out of debt is you did it you're a professional thank you yeah so a big part for me was the mindset um i just never let myself even think like i'm tired you know i'm done with this because if i did then the defeat road just came up so quickly so it's really keeping the mindset accountability for me was huge um i think i sent you some pictures of some post-it notes stuck on my bedroom wall maybe yeah they're showing up in the uh on the youtube channel yeah that's fantastic yeah yeah so each sticky note represented two hundred dollars and initially it was practically from the floor to the ceiling and so i would post every two weeks so i'd make my payment onto my instagram for all my friends and whoever to see and it got to the point where i was like i'm a night shift nurse so you know i'd be working thursday night into friday morning and coming home and people be messaging me where's your debt post what have you paid today and um so the accountability was massive for me for that as well wow well she set up for the first budget her own group on instagram oh yeah that's amazing yeah well done well this is a a key thing here dave ali i want to congratulate you and comment on this and if i've got it wrong that's fine correct me it doesn't bother me but i think there's something about the right applause when you started posting those things on instagram and people started paying attention they said oh ali is doing this like every week this is showing up and they see your progress i'm just curious was the encouragement from people uh reading those posts was that also not just accountability but also some applause that gave you some juice totally yeah definitely and especially when um you know i did get some messages while i was paying off on my debt it was friends saying you know i don't know where to start i don't know how to do this and so you know i was able to call them and talk through starting of a budget or a game plan they might be able to attack i've been passing out your total money makeover books dave like crazy um it's been really awesome to watch everyone else get on fire with me because it's become kind of this group shared vision um and yeah i mean honestly the encouragement that i got each week was so awesome i had friends who are older than me and have gone through your program before sending me money for coffee on my way to my sixth shift you know and they were just being so supportive you know like they see how hard i was working and um they were so so encouraging so supportive you're an amazing young woman i'm so proud of you very very very well done well uh we're gonna send you a copy of rachel cruz's latest book know yourself know your money uh ken i'm pretty convinced if we could get about 50 000 alleys going we could change this whole nation that's about all it would take we could tip over all the idiots out there pretty quick if we had 50 000 it'd be done yep it changed the whole world way to go i'm so happy for you you're so you're so bright so so loud so uh so so you know just so much coming out of you it's pretty amazing very very cool all right ally in omaha nebraska 29 000 paid off in five months making 90 to 65. all the ot and nurse can stand count it down let's hear a debt-free scream all right three two one i'm set free yeah wow pretty amazing i don't want to have a baby in nicu but if i did and she walked around the corner things would be a little better well said wow talk about infectious man that's smiling just because she's smiling and you can hear her smile no question she's fired up man and you know there is something between that and and it's amazing over the years of doing this this is how we ended up coining the phrase personal finances 80 behavior it's 20 head knowledge your behavior flows from your beliefs that's right you would never act on something you don't believe to be true unless you're a psychopath so otherwise you you know farmers would never plant seed if they didn't expect a crop uh and so there's a belief that causes that behavior that action of planting and in her case she believes and it's amazing to me i i talk to people making 120 000 a year and they can't figure out how to pay off 20 000 because eor is their spirit animal and then i talk to people like her she's straight out of college she has zero money and passes her boards goes get six jobs all in nursing at one time i'm exaggerating but i mean she went crazy because she just was on fire yeah i mean she was just burning at both ends and and knocks this thing out in 29 months dave you said something is so huge uh folks don't miss what he said belief belief in what you're doing belief that you can do it but also the belief of others i just had the thought i was sitting there listening her story in today's world more than ever because of social media and 24 hour news and the woke mob and all the things we are so worried about criticism what other people say and we ought to be we ought to not be worried about criticism we ought to be looking for the right applause for people who go yeah you can lose that weight yes you can pay that debt off yes you can get that training yes you can get that job you can do that we need applause that extra bit of belief from people who know why we're doing it and believe that we can do it is a game changer man if we could offset some applause for all the trolls yeah stop worrying about the critics it's amazing this is the ramsey show [Music] [Music] [Music] [Music] [Music] ken coleman ramsey personality is my co-host today he is host of the ken coleman show heard on 75 plus radio stations plus a podcast and a ever popular show on sirius xm it's all about careers and jobs and finding your purpose so jump in and join the ken coleman show and you can join ken today right here the phone number triple eight eight two five five two two five brent's with us in boise idaho hey brent what's up hey y'all thanks for taking my call sure how can we help questions for ken um so i just started um a new job a month or two ago um and i accepted my salary and i was happy enough with it um and then i found out that my co-workers are making about 50 more than i do like 45 what do you make um and i was wondering i'm making 22 an hour doing what uh medical lab scientists and they're making 33 an hour oh yeah 32. are they measurably more experienced than you no how did you come about this how'd you get this information um from them there's two of us that work on this particular two others and then me that we're working on this one we're dealing with kobe well i gotta lean i i gotta tell you i i gotta lean a little bit on dave i got some thoughts but dave is tired a lot no no but you've got a unique perspective on how many people you've hired and fired in culture development but i so so this is really challenging okay because this is all psychology and you're human and so you've gotta you're gonna have to rise above this is the straightforward answer uh because if you don't this is going to eat you alive and i don't think you'll last very long uh this is the the natural comparison uh in comparison is a cancer the only person i try to compare myself to is the me of yesterday and and that's hard but that's what you got to do because if if if you're saying things are equal and it's an equal playing field they don't have any more experience than you they don't have any additional excuse me certifications or all that stuff this is a really nasty situation to find out about i got to tell you i'm slight bit cynical maybe suspect that you got the information from them i'm not saying they lied to you but the whole thing just stinks and if you want to be there here's the last piece if you want to be there in the sense that it's the latter you need to be on for your career and where you eventually want to get to and you got to be on this rung to get to the next rung then you're going to have to really suck it up and be the better man here and and stay out of this kind of stuff and earn the next rung if you can't handle that then you're eventually probably going to self-select and have to get out of there and i'm sorry that that's happened to you because it's a real devastating psychological blow it's a really good question you brought to the forefront here and the interesting thing about it is your tone when you're asking the question is not whiny you're just like it's it's like a curiosity to you which is a positive thing so there's not a you're not angry or bitter or something like that you're just like this doesn't make sense it's like a scientist right i mean it's i there's a riddle here and so um i'm gonna join you in the riddle why would you if you were to guess why the discrepancy in pay what would you guess um because they are i mean it's a business or hospital they're just trying to get as little um or pay as little i came from a so you don't think it's an oversight um you know they're you don't think they saw something different in your qualifications than the other guy you don't think there's a logical explanation other than just sheer they didn't want to pay as much and they thought they could get away with it and they did and they did i didn't come in i thought the job was a technician job not a technologist job and so when they gave me my pay i was like well this is really exciting yes i'll take this because like four bucks more than i thought it was going to be um and then i found out what the job really entailed i i am a biochemist not a medical lab scientist um yeah i've been learning to play golf and i figured out the secret to happiness is low expectations um yeah so yeah you had low expectations and then you got a four dollars more and you thought this is wonderful and then you found out you're ten dollars under and it's all about expectations what ken said it's a psychological problem so what is the environment like uh what's the environment like between you and your supervisor or you're hiring the person that did the hiring with you is this a an open conversational good people or is it very chain of command real shut your mouth get your work done i mean what is it authoritative or that is a great question um the only time i've met my supervisor is the day i was interviewed she went on leave right after that and then has since come back from leave and then never stepped in and i'm a night shift and so i haven't uh she's gone before i come in yeah well i um what i have figured out is that there is going to be a difficult conversation it is going to be in your head and your head's going to explode or eventually or you're gonna have a difficult conversation and the the trick is how to sit down with her and have a difficult conversation and what uh one of the things we teach leaders to do and uh you're leading up in this situation is to just if if if there's an elephant in the room go hey there's an elephant over there don't act like he's not there and so let's just call out a couple things that we know here okay number one when i interviewed for this job i first thought it was this and then i found out it was that and i was four dollars more than i thought and so i was really happy and i'm grateful and by the way i am grateful for the job and i have got gotten to talk to you a lot because you've been out on leave and of course i'm night shift but i'm swinging by this afternoon to have a five minute meeting with you just uh and i want you to hear nothing but gratitude from me um but uh i got to talking to the other guys in the lab and i found out that i'm the only guy with the exact same qualifications it makes 22 and they all make 32. and what i want to ask you is what can i do to make myself worth 32 to you guys because i'd like to measure up and apparently i've not done that yet and that pretty well uh exposes the crap without you going you people ripped me off you know that's the other way to approach it in which case you just get fired brent really quick i'm going to jump and ask this question are you able to do the market research and be able to show that there's a range of income and that the work you're actually doing does pay higher can is that is that something you can find the evidence for and show that in the marketplace um there is they are actually above average what the other two are making yeah well what i would do i would just say all of this yeah number one i'm happy at 22 i'm not coming in here to gripe about them making more and number two i know that the pay around here is above average in general but what i'm trying to do is figure out how i can be more valuable to this place so that i can be worth it and you put me in for a 32 instead of a 22. but i i want to earn it and i want you to tell me how i can be the best person i need to be to do that and i don't want you to hear anything from me but gratitude listen if if your boss gets twisted up about that your boss is an idiot yeah there's your sign that's not a long-term stay yeah the only thing they go shut up and get in your corner you accepted the job right then uh then start looking for another position but but i don't think they will i um i think you're bringing it up and what you're doing is you're exposing the fact that all of these facts are here oh by the way you can also say i accepted the job at 22. so i did this deal and i'm so i can't come in and gripe about the deal i'm not here to gripe about the deal i took the job and uh and so you know the fact that somebody else makes more does not make me unhappy but what i do want to do is i want to figure out a track that i can get on to be of value to this place to where i can join them in that kind of an income because that would make me feel really fulfilled and i would know that i did a good job for you guys and that kind of just keep talking about that way but you know hey i took the job i i did the deal so i got no gripes because i if you'd have been 32 if it had been 42 if it had been you know whatever number you'd have taken the job and so you took the job you know and just admit that admit that you're you're grateful and that we don't have a relationship because i'm not seeing you and just put all these things that are facts out on the table so that that there's nothing swirling around as a side of communication that's not happening be real careful with your body language your tone and your pacing and be real calm like you've been with us and not whiny if you're octave down no high octaves this is the ramsey show have a friend or family member that needs a daily dose of ramsey advice in their life let them know about the ramsey call of the day podcast it's a quick hit of advice about life and money in under 10 minutes check out the ramsey call of the day podcast wherever you listen to podcasts [Music] this is the ramsay show you can be intentional about your character you can have money and a career you are the hero in your story [Music] live from the headquarters of ramsey solutions broadcasting from the dollar car rental studios it's the 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 ken coleman ramsey personality host of the ken coleman show where they talk about careers and jobs and finding your purpose he's my co-host today so you can ask questions about life money careers we're here to help you open phones at triple eight eight two five five two two five that's triple eight eight two five five two two five alex is gonna start off the hour in san diego hi alex welcome to the ramsey show hello guys thanks for having me on sure what's up so um i actually talked to you and karen a little under a year ago i think it was in july of last year and me and my wife we were considering buying a house but considering moving soon and what i didn't really mention at that time is that we plan to move for the purpose of serving in the ministry overseas in europe we're in our mid-20s and we thought this was a ways off at the time because we wanted to have around around 200 000 in the bank before leaving just to the safety net because we didn't know how it worked financially but my business has really taken off in the past year or so and we've been able to save up a lot more so we really want to use this as a blessing to get that ministry started started sooner we'll be providing for ourselves uh the church will not be helping us which we're okay with but we will be taking a pretty big pay cut so that should allow us to take care of our expenses and retirement but not much else my question is just kind of a rocking chair uncle dave type of question you know can you give me any financial advice i should be thinking about and just kind of talk me through you know having mental peace with taking a pay cut providing for myself and my wife um because it just kind of freaks me out cutting our our salary kind of in the or i guess our income you know that by more than two-thirds yeah do you own a business yeah i do what are you gonna do with that gonna keep it going i have some employees um that i've been training and they're gonna help me take over a good portion of my workload so i'll be working maybe 10 to 20 hours a week instead of you know 40 to 50. why would you pay yourself less then just remotely right yeah it's going to be remotely are you expecting the income from the business to go down no i don't think so um but you know i'm hoping by the time that we leave the people that i have working for me kind of part time they're ready to step into a full-time oh so your expenses are going to go up your net profit is going to go down exactly yeah okay now i understand all right because you're hiring people to know what you might come down a little bit i don't know but you know i i don't know how long do you think you're going to be in the on the mission field uh we're looking at a minimum of two to three years but we'll reassess it with you know at that point okay well that gives me a lot of peace you ask about peace um i mean obviously if god's hand is on this and god called you to this that gives you a level of peace um but it doesn't mean that missionaries don't fa that are called don't face uh financial struggles most of them do as a matter of fact uh it's a hard it's a hard life you're signing up for it's a tough thing um and yet it's one of the most rewarding things probably you can do on the planet if you're called to it so and you obviously are i'm not questioning that the sec but but from a uh less of a spiritual lens but more of an emotional psychological lens if you can see the end of something you can walk through anything with peace um if you can say it's going to be over here it's the perpetual thing that drives people nuts the ambivalence and so even if it's pain you can say okay this pain is you know doc says i'm you know this is i'm going to start this procedure and it's gonna really hurt for 30 seconds but obviously five years from now you're going to be well because of this 30 seconds of pain you can endure the 30 seconds of pain but if he just starts cutting on you you know how long it's going to be i mean that pain eats you alive psychologically so if you could see the end of it and so i would set a time i would say we're going to commit to two years three years whatever the mark is and at that time we're committing to moving back home and ending this mission now we will stay keep ourselves open to the fact that god asks us to stay and we feel called to stay and so on but for right now our our level of commitment is a three-year commitment at the end of that we're coming back home see if you set that that gives you a sense of uh destiny a sense an end to this a light at the end of the tunnel that's not an oncoming train financially or mathematically and then you can scrape and claw and scratch and sacrifice for that period of time uh but but eventually you got to come up for air you can't hold your breath but for so long so the it's the ambivalence that drives people nuts the lack of clarity alex i thought i heard you say that the company made more money so you're moving the timeline up to go to the mission field is that correct yeah yeah we have a good we have a really good safety net of just kind of our fixed amount in the bank but and i understand me ask you this money coming in month over month and it kind of freaks you out but here's my question for you do you feel god's pressed a call to to move the timeline up or do you are you just reacting to this timeline based on well when i we said we were going to move on and move when we hit this goal financially i'm just wondering what's driving the increased timeline because we hit the number we planned or do you feel a press to go and i've got a follow-up question so is it yes or no on that yeah no i mean i feel uh i felt a bit pressure and weight of helping in this ministry for a long time but honestly the goals that we set financially were not necessary it just kind of felt like a secular safety net not even that made me feel bad and now being way beyond that i just feel even more of the burden of it because i feel like you know i have to go do this all right so i think you got to listen to that uh and i think i think you got to honor that and i think what dave said is right the only thing i would tell you is is that i i would not assume that just because you're taking on the increased cost of employees because that's real that the company wouldn't grow and i would do everything i could to see if we can keep those revenues going and really dive in and then just and then and then i think god's gonna bless you regardless uh but i just wouldn't assume that all of a sudden um the company won't grow uh i try to train those folks and and stay in tune in those 10 hours whatever you're doing try to lead them and see if god doesn't bless that and grow that business my schedule you know maybe a little bit of extra you guys to schedule a uh an occasional two-week move back here to sit around and do things for two weeks in the company and then go back and give it a little booster shot missionaries do that all the time yeah up they come back to raise funds you're going to come back to run the businesses that's supporting since you're self-funding and keep you know that you're self-funding that's a great point you don't have to stay there the entire time and work remotely 10 hours a week and so you can run back and forth a little bit it's not that hard and um uh but yeah i i think if you see things less permanent and more flexible it keeps you from losing your piece to answer your question and so i would add the flexibility of some returns and i would put a deadline on it that um you know that unless you know my wife and i both hear from god then we're coming home after three years and so uh or whatever and you can pray and determine that deadline in prayer i don't care but it i i think leaving the door open and we're going to just stay until dot dot that'll drive you bananas unless you're planning to be a full-time missionary the rest of your life which you did not tell me that you told me otherwise which means he could also they could both come back keep that business viable and growing and continue to go back over time take their kids back it becomes a generational thing it's a both end it doesn't have to always be all in it doesn't have to be a you know a one-year mission trip and then you're done forever and it doesn't have to be a you're on the field forever and you never come back to the states um so we just have better transportation and technology these days so it's a cool thing you're doing brother thanks for letting us participate [Music] hey folks i got a great option to help you pay for your education the army national guard the army national guard believes you are the next greatest generation because you have proven that even in adversity that you have what it takes to succeed that's why they offer benefits like tuition assistance career training and a paycheck to help you avoid debt no matter what your goals are the army national guard can help you get there visit nationalguard.com to find out more [Music] ken coleman ramsey personality is my co-host today have you ever asked questions like how much should i be saving how much debt should i be paying off and how can i do it faster or what's the right way to invest the good news is you don't have to figure out the answers on your own ramsey plus which includes financial peace university will guide you every step of the way with the ramsey plus membership you get all the digital teaching you need to really understand money so you can be confident that you're always doing the next right thing see not knowing what to do is the biggest problem knowing what to do and then having the motivation to do it is the easy part we can show you that our world-class budgeting app every dollar our tools our guided action steps to help you make progress on your money fast it means no more debt it means cash in the bank when there's an emergency and a real plan for your future ramsey plus helps you get small consistent wins every day that lead to big results and lifelong habits to get started with a free trial text trial to 33 789 that's trial two three three seven eight nine ryan is with us in starkville mississippi hi ryan how are you good how are you dad better than i deserve what's up so me and my fiancee are both 22 years old graduating college both from mississippi state at the end of the month wonderful what are your degrees in i'm in construction management and she is elementary ed excellent when are you getting married uh november or september 10th good for you glad you got i'm glad you got it straight yeah all right september 10th big day man congratulations i appreciate it my question is so neither of us will have debt uh my parents helped me pay my way through college uh and she had a full-ride scholarship through excellence in teaching program so she just has to teach mississippi for five years after graduation um we'll have just under a hundred thousand dollars of joint income once we're married um and i will both be living with family so very little expenses till then so plan on saving as much as we can until we're married our question is do we need to look at renting as our first housing option or should we look at buying since we're both step three and have that leg up on song well you financially meet the guidelines that we give you for buying we tell you to be debt free have an emergency fund of three to six months of expenses before you buy and then buy a 15-year mortgage with a payment no more than a fourth of your take-home pay on a fixed-rate 15-year mortgage that's the guidelines that we use now i will tell you as a a dad of 20 somethings and 30-somethings and has having coached folks for 30 years i personally think you will make a much better housing decision if you wait one year and so i would be per i would be looking for homes uh this time next year into the summer with the idea of closing in september one year on your one year anniversary give or take it takes about a year of living together as a married couple to know how close to your mother-in-law to buy you have to get you have to get to know each other to make a better decision right now there's a lot of wonderful milestones happening in your life you you know you would not be human if you didn't have stars in your eyes uh you know you're getting married you're graduating you both got good careers you're debt free man what a wonderful start you've got yes everything's great here it's not going to kill you if you buy a house but i think you'll buy a different house one year from marriage than you would have today and if you start your real estate career at 23 24 years old instead of 22 years old that is not the end of the world you are still going to be wealthy you're still going to be fine you haven't thrown the money away you've just concentrated on your marriage spend the first year concentrating on your marriage a hundred percent don't there's an old thing in the old testament in the bible that they they would not allow a soldier to go to war in the first year of marriage and the first year of marriage they had to stay home and get the home solid before they went off to war of course they were often gone for years at a time when they went off to war but so it's a little different but but it's a it's a principle coming out of second kings ryan here's a little secret that when you become a homeowner you start owning problems that happen with that home and i think that dave has nailed this i think that in addition to what he said is to have a year of just renting a nice apartment you guys can afford it and enjoy just living together and learning what kind of a home do we want and dave said so beautifully there that that is going to become more clear uh a year later but you know you don't need the additional stress that comes with marriage uh dealing with new jobs new jobs new marriage we're sharing silverware and mustard yeah come home hang out at the pool at the apartment complex be young and married with no kids and chill and just not have to think about you know the gutters the gutter doesn't agree with that heat and air is not working that's what nobody tells you you got to put up curtain rods which that that by the way is the third largest cause of divorce yes true but um that's true because here's why in in in stacy's house her dad did it this is a true story my wife we've been married almost 23 years in my house and he knew how to run a screwdriver he knew how to do it well something that something i do something mr coleman might not know how to do no talent in that area but you do you learn those things what time do we eat dinner you see dinner this time in my house who does what my dad used to fill the dishwasher you know who knows you got all these cultures you roll the toothpaste or squeeze it yeah i mean there's a lot of major philosophical things that have to be are you and sharon in alignment on how to handle the tube of toothpaste this is what people want to know yeah you are yeah we each have our own and separate ends of that massive bat master bedroom bathroom that's the right answer that's where we had to go and that way she doesn't get in my way right right yeah you know that's how it went down yeah i didn't want to agree with that no you better not no uh you me stacy will all be in trouble uh so yeah you're that but i mean it's it it's a there is nothing wrong with and you're gonna you ryan you're gonna get tremendous pressure from all these financial geniuses that aren't you know you're just throwing your money away you need to go bye bye bye bye bye and it's okay yeah i'm not suggesting you go a decade without home ownership i'm talking about 12 freaking months and let this thing have a little breathe a little rhythm to it and that's just an opinion and it's probably worth what you paid for it but i feel pretty strongly about that i tell young couples that are getting married wait at least a year to buy a home you got enough other things you got to adjust in your life to get square on good stuff good question sarah is with us sarah's in dayton ohio hi sarah how are you doing well my question is um i want to know if i'm taking out enough money investing enough so that when i retire i can have money to blow okay how much are you investing okay so my husband my husband takes out um it's about 625 a month into deferred comp and i take 300 out of a month of our paychecks into our deferred comp how old are you um i'm 37 he's 36. he has about 120 000 in his and i only have about 15 000 in mind and every year we plan on adding an extra 25 to it it just depends on how much you plan to blow but you're gonna you should you should have millions of dollars with what you're outlining okay just because i want to be able to you know just up and leave and go wherever i want or you know take a depends on wherever you want i mean are you upping and leaving and jumping on your own 747 jet uh the contest that cost a hundred million dollars and you're gonna live in on the beach in you know buy some of the most expensive real estate in the world no you're not gonna have that much money but you're gonna have millions wait you're gonna have millions yeah if you wanna go to cancun and stay in an all-inclusive with a couple friends you'll be able to afford it okay now that i can handle i just if we just keep adding 25 extra every year to it yeah but here's the thing here's the thing you need to probably reset some of this stuff and uh i'll send you a copy of the total money makeover you need to be doing a deferred comp is the last one you would do the first one you would do is anything like a 401k with a match and anything that's roth is second and traditional investments in 401ks and iras are third deferred comp would be fourth and you probably have other options available that will serve you better in these goals and of course we're going to get you out of debt before you do any of that so hang on i'll send you a copy of the book the total money makeover which will walk you through exactly what to do and exactly when to do it hold on [Music] [Music] [Applause] so [Music] ken coleman ramsey personality is my co-host today ken our favorite thing to do on the show is a debt-free scream our next favorite thing that's a little bit better is to do a debt-free scream live in the lobby but the best of all debt-free screams are our own ramsey team members doing their debt-free screams on the debt free stage right here in the lobby with half the freaking company not working standing out here watching yeah that's awesome so very cool you're happy when they're not working well you need to step in well that's true we need to celebrate yeah we need to solve it that's right then we're going to get right back to work so jim nally is with us he's been with us about four years and is a director of paid media a digital marketing team is uh here with your with his wife and your wife's name is amanda amanda well welcome guys congratulations you did it you did it how much did you pay off and how long did it take we paid off two hundred and seventeen thousand dollars for five years five years that's amazing and you've been here four years so you've been in the middle of serious positive peer pressure for a long period of time as a part of this i mean what better environment to make you do this stuff and uh so i'm so proud of you guys that's a long slog tell us the story what happened five years ago that started the process and in the middle of or in early in the process you end up here yeah yeah so we um originally took fpu right at eight years ago and it was in the middle of a season of just hard hard times we had uh just had a baby who's born 10 weeks early we're barely making any money and we had started floating some bills between some credit cards and had a massive amount of student loan debt so of the 217 about 150 or 160 with student loan debt wow what was the rest of it about 40 was medical and then kind of a smattering of small consumer things on top of that so a mountain of debt no income to amount to anything baby comes early yep it's like the perfect storm yeah yeah yeah and we believed it and we started to to work it but in very like baby baby steps yeah actually working the baby steps yet crawling yep yep so very kind of davish we were still floating between the credit cards but we were trying to stick to a budget and then when it when it wouldn't work we'd get frustrated and we'd jump way back to that spot of not wanting to open the bank account again being terrified of what what was lurking kind of anytime we'd pull that screen up and a few years later well why don't you tell that part of it yeah so about five years ago is when we really kicked into gear um it was about christmas time and i remember we were trying to get presents together and we had two small kids at that point and we were scraping the other pennies for a loaf of bread to eat dinner i mean it was that bad um and i remember walking through the grocery store and there were these carolers singing through the grocery store and i'm just crying like why are you so dead-coming and um and i was just like i went home and i can't we can't do this anymore we cannot do this anymore i was sick and tired of being sick and tired amen and so we started working it yeah we busted out our copy of total money makeover pulled out every dollar started just getting back on it again basically reset on our snowball because it had been in a couple spreadsheets and then we're like nope let's fresh start from today let's get it figured out and then it's just been hustling ever since yeah and how'd you end up here yeah so um we have been in the nashville area about 10 years i used to work down the street from the old office and uh walt yates one of our uh vps now reached out to me and said hey you wanna come chat have coffee and then uh and kind of a miracle of hiring here ten days later had an offer and was starting my new role and since then the team has grown from just me to a team of ten and we're looking for a lot more digital marketers out here too absolutely it's been a been a wild ride for the last four years yeah that is a miracle of you standing out here that got hired how many of you took longer than 10 days raise your hand everybody all of them yeah that never happens it's harder to get on with the fbi than it is us but uh yeah yeah we're pretty choosy because we don't want crazy in the building so way to go man so cool and you've obvious your career here i've followed you i know who you are and what you're doing and you've done a great job here and uh have continued to advance in this place and um and and i'm we're not going to ask your incomes during this time because your co-workers are standing around that's what i like to do but but um but you guys have done an incredible incredible job five years yeah wow yeah how's it feel it honestly hasn't even quite hit us yeah it's this like i'll have moments of just being busy and then things get quiet for a moment and then i'm like whoa like everything's changed there's this just kind of sense of awe and a real sense of like god was reminding me this week i've brought you this far wait until you see what i do today yeah just wait the next chapter is going to be awesome yeah this is so cool yeah amanda that was uh you need to write that story of the grocery store out to be able to hand it to your daughter on the you know three weeks after she gets married so she she can know where how her family tree was changed because that was sharon sharon used to say people say you know how much money you want she said i just want to be able to go to the grocery store and buy a full buggy that's all i want and truthfully that that has satisfied her for a very long time you know it's just she really didn't change that i mean she there's we bought lots of other things but you know that that was kind of like a measure that we weren't desperate and freaked out anymore if we could just go to the grocery store and buy a whole buggy of groceries i mean babies running around all that so such a great great job you guys very very well done who are your biggest cheerleaders um our our parents my parents are here today with us hey that's awesome cheering us along the way jim's parents too they just weren't able to make the trip but um also our church family you know we had a small group of people that what church are you in uh we've been going to um well it's complicated okay just move on let's move on that's right there are several great churches in the area there's a lot of great churches just leave it alone we're good okay so your cheerleaders were your mom and dad of course you had a couple cheerleaders on the team i'm sure folks on the team knew what you're doing absolutely we all talk about this stuff all the time we really actually do the things we teach we do around here it's probably amazing yeah pretty crazy yeah our whole theme for the internal team this year is to walk the talk we got t-shirts everywhere teaching financial piece university of the team again this year and and just getting everybody involved and everybody winning and i'd be ashamed to work here and not not do this stuff you know so proud of you guys i gotta ask you when you do something for a year two years and that's intense commitment five years is next level and i heard you say you know i'm still recalling that hey we're actually debt free i want you to talk to people who are feeling like they're in the middle of that run they're in that they're going they're stupid we feel like we're halfway through and it's really really hard and it feels like even though we know we've made progress it doesn't feel and seem like we're ever gonna get there what do you say to those folks yeah the biggest thing even as we're just reflecting the last few days um when you hit a wall when you have a month where you don't quite hit your budget when you have something that comes up unexpectedly sets you back when you're on a journey that long the biggest thing is just to keep making progress like look at progress not perfection i can't tell you how many times i can't tell you how many times we hit the like oh we missed it this month and then our first instinct is to shut down and not want to look at it again not want to pick it back up but being able to just pick it back up time after time and sometimes there's longer gaps on those times and sometimes it's shorter yeah the other thing i'd say is don't put off especially if it's going to be this long don't put off the things to take care of your mental and spiritual and relational health yeah like we've both been to see some counselors and that sort of thing along the way and it was critical to take care of our our souls and our families that's good absolutely while we're taking care of our finances thank you very much and you brought the uh brought the kiddos through the debt-free scream with you their names and ages yeah we have sarah she is about to turn nine she's over a little preemie all right here healthy today and this is judah he's six all right very cool and i'm sure they've been practicing their debt free school oh yes all right it's sarah and judah amanda and jim he's a director of paid media here digital marketing team looking for some more team members just like him and a pretty incredible story jim we're so proud of you guys 217 thousand dollars paid off in five years count it down let's hear a debt-free scream three three two one we're debt-free [Applause] this is how it's done ladies and gentlemen how fun is that man they cleared up a bunch of that that was a lot this is the ramsey show [Music] [Music] so [Music] ken coleman ramsey personality is my co-host you jump in we'll talk about your life and your money it's a free call at triple eight eight two five five two two five calvin's in los angeles hi calvin welcome to the ramsay show hi dave huge respect for you guys do thank you have a quick question okay i'm uh 22 years old recently graduated from college and just starting my career uh i currently live at home but i've been saving everything i make and i have a good amount saved up right now and i want to purchase the house but living in los angeles housing prices are just astronomical and i just don't see myself being able to afford one anytime soon i wonder if you have any advice on if i should just get out of la or any way i could possibly become a homeowner anytime within the next few years hmm well it's a you know obviously you've analyzed the situation correctly it's an expensive market and in order to buy a home there you're going to have to have a pretty substantial income what do you do i'm a manager currently at a warehouse i make about 70 000 a year your phone's cutting in and out you make about what a year i make about 70 000 a year as a manager at a warehouse okay what's the career path you mentioned possibly moving for your career what's it look like moving up the ladder 10 15 20 years down the line well the company i'm working at is expanding pretty rapidly so there is definitely a good opportunity where i'm at i'm enjoying the work so i could see myself and i do believe in the next few years my income will increase and they have a lot of opportunities out of state so i'll be open to moving i'm just a little nervous about i've lived in l.a my whole life going somewhere new yeah well that would be human um most people would be nervous about doing something new it's also an adventure it can be it can be exciting and scary simultaneously and here's the thing you don't you do not have to look at a move as a permanent equation you're 22 23 years old so you could take a job making 70 000 with the exact same company in another city where real estate prices are half what they are there and start your life there's nothing to say that five years later you don't take a job in la and move back you know there's nothing to say you don't end up in whatever city you know after that but there's um uh i i would challenge you to say you know some people when they're 22 and they graduate from college they go backpacking in europe for a year for an adventure and don't do anything except see europe which is kind of cool a little hippie-ish but kind of cool but instead you could just say my adventure is going to be another city for four years yup i love that i'm going to pile onto what dave's saying this is a great idea i would take the top three cities you said there were some opportunities for you to make money what are those potential promotions what cities do those exist in and then let's say there's three cities four cities five cities uh you're a single guy you've got some vacation time go visit go visit the city yeah that's good it's not so scary when we actually go see it and uh hang out a little bit into dave's point now we go wait i can move this city move up i'm making more money what area of town do the 22 year old 23 year olds live in and you know which is really the cool end of town typically right but i mean there's some really neat cities in america uh and you can enjoy some you'd enjoy three or four weeks of good travel uh or three or four weekends long weekends of good travel or something and see some of these areas and then see what your company can open up for you you're not in a hurry but you're not nailed down you're more free and mobile today than probably you ever will be again in your life that makes a lot of sense i'll tell you this too calvin you may not believe how free it is in some other cities guys in los angeles they've truly been on lockdown yeah i mean can't even walk outside for a while yeah it's gonna um yeah yeah and covet stuff aside but yeah but but yeah i'm just going to see this time as an adventure i love it i don't think your only path is try to make uh 150 000 so that you can afford a home in la you know uh it's going to be hard to do a home in la uh you know with a typical income considering the real estate prices are not typical and so you i mean you're sitting about that household average in america the good news is you're only 22. so you're going nowhere to go from here but up usually so good stuff there but um i just i'd have some fun with this lee is in chattanooga hi lee how are you i'm good how are you better than i deserve what's up um my husband and i we are debt free and we are currently maxing out both of our roth and we have a my husband has a simple um ira at work that he contributes to the match on it and so i was just wondering what are what are our other options as far as investing for retirement and just regular investing in general um okay very good so i would max out anything that he's got at work if he's got a simple and he's only doing the match then i would go ahead and take it all out to the max that's the first thing because it's a uh a simple ira is a 401k at a small company yeah that's what it amounts to and they have a mandatory three percent match and so that that's what he's experiencing they probably offer that in a roth and i'd be doing it in a roth as well so if you can do a simple with a match fully funded as a roth and do your two roths that's the first step uh or something that sounds something like that uh and are and you're not working outside the homely i know i'm not okay all right do either one of you have any self-employed income i know okay all right uh then you're left with just open market investing now uh what is your household income um about 85. okay well we recommend putting 15 percent of your household income which in your case uh a couple of roths would do it yeah we're pretty much there now but we've still got some extra that comes in well i know but do you have a is your home paid off it is yes you did that in january that's wonderful okay then you're just left with investing and uh okay you know at this point um what you're what what i would suggest you do is just open a uh probably something that's called a low turnover mutual fund if you're working with the smartvestor pro they can help you with that another way to access a low turnover mutual fund is a uh just an s p 500 index fund now i'll explain to you what that means okay if you buy a stock a single stock let's just say you bought i'll make up a number a 50 stock and i'll call it home depot i don't even know what home depot sells for but let's just call you bought the stock for 50 if it goes up in value from 50 to 70 you do not pay taxes on the sev on the 20 increase until you sell it right okay it's a cold account it's a capital gain if you hold it more than a year so it's taxed at less than regular income and you don't pay taxes on it until you sell it that's called realized but not recognized you've realized the gain but you've not had to recognize it for tax purposes and uh so if you buy a low turnover mutual fund the mutual fund has a bunch of stocks in it and they almost never sell them if they have a 5 turnover ratio 95 of them did not sell and all of the growth on the 95 that did not sell is just like that 50 to 70 there's no tax due on it until you sell it so the beauty of it is it's tax deferred capital gains growth in mutual funds but it's not in a retirement plan so it's it's a good it's a very tax efficient way to grow your money i personally do that a lot i dump a ton into index funds and then when i get a chunk in there i buy a piece of real estate that i pay cash for and then i start again then i build it up again because i like real estate but if you just wanted that was maybe an option in the you know in the future once we get a chunk of money so yeah if you had enough to pay cash for a little rental house here in chattanooga that'd be awesome right and get your real estate portfolio started and that going along with your roths and his simple you're going to be in really really good shape and you don't have to do anything fancy again a smartvestor pro clicksmartvester daveramsey.com any of you that are willing to do your investing they can show you how to do this stuff and teach you so you understand what you're doing never do something you don't understand but that's how that works and it's the most tax efficient way uh and a beautiful beautiful way to do your your surplus investing portion ken good hour yeah always fun good cause ken coleman ramsey personality my co-host today james childs is our producer kelly daniels our associate producer and phone screener i am dave ramsey your host and we'll be back [Music] did you know you can listen to the ramsay show on your smart speaker just tell alexa google assistant or siri to play the ramsay show podcast check out all ramsay network shows on your smart speaker today [Music] this is the ramsay show [Music] you can be intentional about your character you can have money and a career you are the hero in your story [Music] live from the headquarters of ramsey solutions broadcasting from the dollar car rental studios it's the 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 ken coleman ramsey personality host of the ken coleman show is my co-host today open phones at triple eight eight two five five two two five that's triple eight eight two five five two two five ian starts us off this hour in knoxville hi ian welcome to the ramsay show dave and ken thank you so much for having me on the show how are you today better than we deserve what's up brother all right so i'm in the middle almost halfway through a master's degree and i'm taking on death if i continue i will take on more debt i know your policy on student loans and i just happened to work at a job that like i'm a teacher at a private school and in order for me to maintain my position here i have to show that i'm making progress towards life insurance through this master's program my question is do i stay in the master's degree and continue to take on debt or should i get out of it but then have to look for a different job what do you think so the master's degree you're a high school teacher yes sir private school no sir i'm a middle school teacher at a private person school and they demand that you are going into debt and taking on to get a master's degree to teach middle school kids well they that's kind of right um that's a good way of putting it yeah these are eighth graders for god's sakes i mean i'm not against education but this is a little bit onerous so uh so how much debt have you taken on all right so so far i have 11 200 in debt and if i continue i estimate at least 15 000 additional dollars in debt okay are you married yes sir i am does your wife work outside the home uh she has a job but it's one that she can work from at home she actually just got it we're unsure it's commission based we're unsure what that's going to look like month to month what do you make so i make 32 000 a year do middle school teachers in the public school system make more or less uh they make more i mean the price vary the amount varies by district overall it's more yeah i was thinking knox county would pay better than that i i got to ask here for clarification is this a part of your employee agreement when you signed on where they say you have to have continuing education to stay employed here that's correct what's the long-term goal for you as a teacher where do you want to end up what's it look like in the future where are you headed well for this is kind of what i'm thinking right now for many years i've wanted to be a teacher um my wife and i we've just started to get out of debt and we're reading through one of your books days and so we want to be we're going to have financial freedom obviously and i've just read and heard over and over that you're like you're a dance student you're against that of any you know in any form and and like i'm willing to do whatever it takes i'm like if i have to find a different job like i will uh if it's worth it to continue like well this is not about this is not about me this is about what gives you your best life a decade from now and is that student loan debt is it this career track is it this place that you're working in um aside from anything you've learned from us just commenting you know just as your friend looking in from the outside you are underpaid in a private school setting what you could be paid in a public school setting and they're putting extra rules on you that make it super unreasonable um that's aside from dave ramsey or ramsey solutions things am i am i missing something ken no i i mean the question i was asking is ian do you want to be in education long term because that kind of plays into this i would certainly pause the master's degree i would where do you want to be in 10 years yeah like in terms of my jobs yeah i mean up until this year i thought it was it was teaching but after going through the numbers i'm like like i could be paid i could get paid way more provide for my family and still do something i enjoy for less hassle yeah but here i want to caution you on that and i understand those emotions but but if you always felt the call to be a teacher and you want to instruct you love instructing um then number one you can make more than you're making right now number two uh we have a study the largest study ever of net worth millionaires and the third largest group of net worth millionaires in the united states are teachers so you can take care of your family you can retire a millionaire so if that's true and you believe that would that give you reason to leave being a teacher you said would that be a reason to yeah my point is if if you know you could take care of your family and retire a millionaire would that make you want to leave being a teacher if you knew you could provide and take care and retire wealthy would you leave like it would definitely make like make me consider it much more as an option yes knowing that does help so i think you need to look at being a teacher somewhere else that's right you're doing the right thing in the wrong place and so you need to if they're going to fire you upon quitting which i don't know how stringent this is then you need a plan i don't want you jumping here but if it were me i'd pause and move on to start talking the county and the city school system about coming on there or another private school and you maybe you're working your way up to i don't know what are the best paid teachers in the land how do you do this and what i know i have a friend that's in a county school system that made 90 000 a year 30 years with a master's degree but a specialized area of teaching not just in the the traditional classroom but in a public school system uh working with um you know k-12 and so uh not to reveal any more than that but uh um and so uh you know uh my aunt taught at farragut and i don't know what she made but she was there for 38 years right around the corner from you there so i know the school system there and i know knoxville and uh so do you want to be teaching middle schoolers high schoolers where's the best money where's the best reward for you psychologically spiritually what's god asking you to do with while you're on the planet or do you continue your education path and even at some point with a phd end up in a college classroom which i suspect pays more than the high school classroom i don't know for sure it would depend on the college versus which high school but i think you develop a path that is not thirty two thousand dollars with a forced set of rules um ten years from now uh it could be you stay there for a year and you ask them for some mercy because you're having to stop your masters you know right now you don't have the money to complete it uh and you ask them for a little mercy meantime you start looking for a job and move to a different teaching gig that's probably what i'm gonna do but i want to kind of start thinking about what does the mountain look like what does the path on the mountain look like and what's the top of the mountain look like as ken talks about that to get clear on where you're going get promoted along the way but you need to develop a system i'm going to do work this many years in high school this many years in the college classroom this many years i don't care where you want to end up or where god's telling you end up but i think that this has revealed not a lack of burden for teaching but a bad situation yes [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] [Applause] [Music] ken coleman ramsey personalities my co-host today this is the ramsey show we're so glad you're with us open phones at triple eight eight two five five two two five this is common sense for your dollars and cents ken and i are the two ornery uncles that'll give you the advice you always needed i like that you never know everybody had some ordinary uncles right hungry uncle ken i'm going to own that with my niece and nephews uncle ken there we go that's a new one summer is where this summer is uh in cincinnati hi summer how are you i'm great how are you doing guys doing today better than we deserve what's up i'm so glad to be talking to the two only uncles yes there's like two of those old men muppets yeah my question is um my father-in-law passed away a few months ago and um since that time my mother-in-law has been um dealing with her finances on her own they have plenty of money they've never had debt and they're very blessed um which she called my husband last week and told him that she wanted to gift us twenty thousand dollars to put toward it we're having trouble hearing you summer can you speak directly into your phone she wants to give you twenty thousand dollars to do what she wants to give us twenty thousand dollars to put toward an above ground pool for the kids and also a barn for my husband because he is inheriting a workshop full of tools and equipment and other things um so my first reaction was we're in baby step two by the way um we should be finished with babysitting in october we've been on the journey for 15 months we have 21 000 left to go yeah so i thought we should take the money and put it towards maybe 50 um because we were going to save in the future other items your phone is all over the place we have real trouble hearing you if you can stabilize it somehow it'd be great okay i'm sorry um so i thought we should put the money towards baby step two my husband thinks that we should use the money um as my mother-in-law has given us for wishes what do you think i think you shouldn't take the money okay at all here's what's going on your husband and his mom are grieving they're hurting and they're not thinking clearly okay he's he's he's lost his dad he's got all his dad's tools coming that he probably used to work in the garage with his dad and that brings back a lot of memories and he's trying to rebuild that portion of that memory because of it because he's hurting he lost his dad and how long were the how long were your mother-in-law and him married 50 years yeah i mean she just lost like her right arm and her right leg you know i mean i've been married to sharon 38 years i don't need to be making decisions like this two months after sharon's gone my brain's not gonna be working good and your mother-in-law your mother-in-law is a very sweet person and she's hurting deeply okay and so you need to love her gently and kindly and just say you know what this is not a good time for us and it's not a good time for her and by the way even your husband you need to tell that to and he needs to take care of his mom you don't need to say a word to her because you'll get painted in the ungrateful daughter-in-law position if you're not careful okay yeah she's just hurting honey and because this is truthfully her suggestions are ridiculous the last thing you need is more expenses while you're in debt and an above-the-ground pool does not add value to anything it's useless for the property it's good for fun but it does not add value to the property it may as a matter of fact detract value from the property and it has to be maintained the money i spend on my in the ground pool makes me want to throw up per hour we swim in it you know it's crazy we don't need an extra expense right now well we'll do it with our own chemicals well you gotta buy the freaking chemicals and you gotta go out there and spend the hours dealing with the thing uh for a lot less you can take your kids to the to the another pool and put them in somebody else's problem and uh um this is just her hurting and her wanting to express love and she just um doesn't doesn't know how right now and it's completely inappropriate and the re and the and the conclusions that they're all coming to are silly okay but it's but it's all it's all sweet and it's all love and it's all because he was probably just a great dad wasn't he yeah he was yeah 50 years of course i yeah i don't know i only have my husband talk to her then and then we will tell her now's not the right time yeah i just think it's a bad idea and and i think she wants to do something that she can see the family enjoy and getting you out of debt is not something she can see and do that with and you guys just plow on through the debt and then later on when you get ready to do something if she wants to give you a gift to do something for the kids and with the kids i mean i'm trying to channel my inner john deloney and what are you thinking well i absolutely think you're right here in this situation there are strings attached to this gift and there are strings attached it's really not a gift it's got all kinds of conditions uh it puts you in a situation where maybe your husband and you could be at odds because you guys have been walking out baby step two if i heard you correctly you're out of debt in october so you can see the finish line i think you're right yeah but i think the most important advice you gave was that the husband needs to a be on board with summer and he needs to deliver that news i thought that was because she doesn't win if she delivers that no there's no there's almost no mother-in-law in the world that's going to love that coming i mean that's just a hard thing and so you know because and he doesn't even need to reference summer when he delivers the message that's the key to say you know mom i appreciate this but i'm hurting right now with dad's passing i know you are and it's just a bad timing let's just let's just put this on hold we'll look at doing it later maybe and just be very kind and very gentle because she's really grieving and and not grieving well by the way uh when you start throwing money around like this right in the face of a loss after 50 years it's it's a bad sign for how she's handling this so she may need to sit down with a pastor with a good counselor and just start to walk through the all the pain because it's legitimate real pain i mean this is this hurts and um you don't make financial decisions in a vacuum ever you're always affected by your emotions you're always affected by your relationships you're always affected by your career status everything around you is a variable affecting your financial decisions so there's no one that makes financial decision space purely on math it never happens there's always something going on and it can be good things or it could be horrible things tragedies like this joy is with us joy is in san diego hi joy how are you i am well so happy to talk to you guys you too um thank you we have a home that we raised our kids in and it is just we own it we own it outright we are debt free thank you very much dave ramsey way to go and we i'm ready to sell and my husband is too but he keeps going back and forth you know the holiday market here market here is great we can get a nice penny for our home and walk away with some money to buy another home you cannot buy back into southern california because it costs too much we are considering buying in michigan but then maybe buying back in southern california when the market goes down the question is my husband says maybe we should keep our home and rent it no and then we'll okay why no because you don't need to be long-distance landlording if you're moving out of this house it's time to sell it um but i'm confused if you sell a home in southern california why can you not buy a home in southern california with that money because that's pretty much going to be our retirement although we do have a nice nest egg okay so you're not yeah it's not it's not the southern california thing it's you don't want to put the money back into a house and then that's pushing you out of southern california so i think you ought to sell it but i think you probably could just buy another house there i think you live there um and if you want to downsize or right size or something i'd probably do that but i would not move out of it and rent it that's not going to work it's not a rental house it's your home [Music] [Music] so [Music] ken coleman ramsey personality is my co-host today here on the ramsey show i'm dave ramsey your host open phones at eight two five five two two five in orlando florida beth is on her on the line to do her debt free scream hey beth hi how you doing i'm so excited to be in your show and this has been amazing so and i wanted to share with everyone that's why i write an email and i wanted to for people to know how much debt did you pay off beth 121. love it how long did this take you took me five years around five years and i can tell that i started um i have a friend that's listening right now she introduced me to dave ramsey the plan and she spoke to me at work and i'm like okay what's that i have all this debt i don't know how to do it and i was always struggling i came from puerto rico with zero with nothing with my daughter escaping from a domestic violence relationship wow to live in a shelter i used to live in a shelter to protect myself and my daughter and when i came with nothing um i was like struggling like like a single mom with just a job with a thousand dollars it was back then and when i started the plan my salary was around i would say like 52 000. what is it kind of like right now i'm 68. what do you do i work for a sheriff's office in central florida i'm right now a community services coordinator i also am a public information officer for the state of florida and i'm in that law enforcement i teach self-defense classes and you save lots of women who are fake and you save lots of women who are facing domestic violence like you used to correct i opened when i started here i didn't know english at all i learned the language i created a non-profit to help and assist other women that are going through domestic violence it's called life in your hands and i'm here today free because of you and i'm so thankful and i would say that that thousand dollars made for me everything because that was the first step for me the thousand dollars and i say okay i can save money how i'm gonna do it i start cutting things using the envelope system i remember my friends used to make fun of me because wherever i went i was i had the envelopes and it was fun because that was my goal i say that before 50 i wanted to pay it off my house and i did it with a lot of sacrifice this is your house you paid off i paid off everything my car my student loan the house what's this now what's your house worth right now it's around 180. so from homeless in a shelter due to domestic violence to a thousand dollars to a hundred and eighty thousand dollar paid for house a new career and new language skills all in five years you are an amazing woman oh but no but i got here before that many years ago but um in five years i started everything like the process with you yeah no but that took me longer learning a language is difficult but i'll say that i follow everything i paid the using the snowball and i've been telling everyone i see everywhere because i did a video and i shared it in my social media that when i paid off the house and i wanted people to know that your plan really works and the way it it requires a lot because you have to sacrifice different things or trips or vacations but i'll say that from all the steps the hardest one for me was the three to six months expenses but because it was little by little trying to get that money and get it all together how does it feel now that you're completely debt free i accomplished and i'm gonna have big this is for me it's been everything because i wanted to show my daughters that you can do it so you can live death free because i remember when i paid off my car when i was i i was planning to pay off the car someone from the family say why are you paying that car you need to make payments monthly so if something happened why are you going to spend all that money paying off the car say i don't want to have no debt and they couldn't understand what is leaving that free and for me was kind of like that made me kind of like that encouraged me to keep going keep going and say no i can do it everyone's all they have all that everyone has something they have to pay and i want to live there free and the other thing was my retirement my i have the actual retirement from the state and in addition to that following your baby step um i added a 457 tax deferred plan so i have to so you are going to be the first millionaire in your family i don't know about that but i'm working on it well you're sitting with a 200 000 paid for house and you're loading up your retirement you're only 50 years old i think you're gonna make it no i'm 47 no yeah no yes you put three extra years on there dave uh-oh no no that's not good you're still gonna make it you're still gonna make it right beth what does your family think now those people who are saying why would you do that why would you do that now they've seen you on the other side what kind of impact is it having for my family they were so thrilled at my friends as i say i did a video i recorded a video on my way to the bank to paid off the house and i'm i i documented everything on my way there and i kind of like uh gave my testimony how god from nothing zero came here to the states with nothing and where he placed me now and as my testimony kind of like i share it with everyone the video i edited at the pictures and all that share with everyone and i even wrote it for a newspaper and the feedback was amazing people kind of like sending your messages life is inspiring i'm inspired you're so impressive well done they all asked me like how i did it and i definitely say they ran the baby steps and i'm so grateful i'm so grateful you're a blessing and keep doing what you're doing because it really blessed us wow you're an incredible lady i'm so honored to get to talk to you today absolutely incredible very well done so uh are you ready to do the debt-free scream beth i'm ready all right i'm under a request in spanish okay i don't care you can say you say in german i don't care 121 000 paid off house and everything at a mere 47 years old did it in five years making 52-68 a life completely transformed count it down beth let's hear a debt-free scream three two one i like that i love it yeah man what a story unbelievable what a life what an arc i mean that's incredible and you know we find when we did the millionaire study we find more people like her than we do some kind of blue blood uh you know went to harvard and you know it had had all kinds of uh advantages or something we find we matter of fact people who come to this country legally are four times more likely to become millionaires than americans are that grew up here and it's because they believe it is the land of opportunity they believe in the statue of liberty yeah well you know one of the powerful things for everybody that becomes debt free are the baby steps is just a clear path for people and they say wait a second there's an opportunity to live debt free and she caught that opportunity from a co-worker to your point she believed in it and there's no stopping anybody there's no the human spirit is a lie well holy there are me stopping that woman she's incredible yeah that's great beautifully done beth beautifully done so proud of you you're an absolute rock star this is the ramsey show [Music] [Music] [Music] our scripture of the day isaiah 41 13 for i the lord your god hold your right hand it is i who say to you fear not i am the one who helps you brian tracy said failure is a prerequisite for great success if you want to succeed faster double your rate of failure well this is true this is true ah so how many of you guys are stressed out or hurting because your retirement savings scared you to death last year well if you're in that kind of pain you may need to have someone to help you with your confidence by teaching you and that would be a smart vester pro you don't have to let 2020 kill your confidence text invest 233 789 find an investment pro in your area never again face a global crisis alone text invest two three three seven eight nine this is the dave ramsey show thank you for joining us america ken coleman ramsey personality is my co-host today joel or joelle is with us in san juan hi joelle how are you hi i'm doing great how are you guys better than i deserve what's up yeah i was uh calling because uh me and my wife have been kind of stuck in this dilemma between uh deciding and investing um and what would be essentially an investment property or building our first house um so basically the question is would you guys recommend buying a multi-family house where basically we'll be living upstairs and renting the bottom apartments or build on a plot of land that we own um but still oh on because we recently bought this uh plot of land okay so you would build what on the plot of land a single family so there's nothing there's no there's nothing what would you build on it a single family yeah okay so the question is at the end of the story do we end up with a single family or uh living upstairs in a multi-family that we rent out right okay how old are you um i'm 25. and what's your household income we are currently at approximately 85 thousand yeah all right and um you have children nope uh but we do plan on having uh well in the next few years hopefully okay all right well quality of life would be the single family investing with a lower quality of life would be living in upstairs in the multi-family and having your tenants next door right the great news is your tenants are next door the bad news is your tenants are next door yeah and from a landlord's perspective it's um not always a beautiful thing so um i mean you got the people all up in your business and you're all up in their business while you're trying to do life now if you had kids i would push even more towards a single family from a quality of life standpoint but purely on the investment side alone not considering lifestyle or quality of life the multi-family will make more sense you'll make more money that way but but it's going to be a pain in the butt that's part of the deal i mean you're giving up some things to do that and i can tell you this i've owned a whole bunch of investment real estate there has not been a piece of investment real estate that my wife was wanting to live in so i've never done what you're talking about and i own several hundred million dollars worth of real estate today and i started out like you starting out here you know with my very first one so uh it's not a it's not an evil bad thing for you to build a house on that piece of land get it paid off uh save up your money and buy your first rental as somewhere else and it's not an evil and bad thing to move in that multi-family for a little while pile up a bunch of cash and then build a piece of build a house somewhere or buy a house somewhere and move out and rent that other apartment out after you get it all paid off but uh it's just a matter of how you all want to live and you need to be real sure you're listening to the wife on this yeah i'd pull off the paper with all the math numbers and i'd say what's this really going to be like and and you know it sounds really good and walk up there and stand in that apartment a little bit that's right just listen to the noises yeah if you've lived that way before and you and it's essentially like you're the uh you know you've rented out multiple apartments and you're the super supervisor so i if you can do with that i if the wife is on board sure john is in boise idaho hey john what's up dave kim thanks so much for taking my call i was hoping that you guys could help me out i am trying to figure out if i'm using math to justify a stupid decision so uh i'm about to graduate from law school and also with a master's in accounting and tax i'm going to finish with only about eight thousand dollars in student loan that day wow unfortunately you had to get with russia kovid last year so well thank you um i am planning to pay that off within the first couple months of starting my job i've got a great job lined up i'm gonna be making six figures starting out which i'm really excited about and i'm looking to buy a house i'm not in a position to have a large down payment though and i was wondering mathematically being here in boise rent prices have gone through the roof i think we were one of the highest in the nation to see an increase in rent prices and just overall property values have been going through the roof as well yep i was wondering if it would be appropriate for me to you know get a mortgage or something with a three and a half percent down payment and get pmi for a few years knowing how fast property values are going up or you know my dave ramsey alarm is going off in the back of my head wondering if i should go the more traditional route and get a you know save up a full 20 down payment if not more we don't we don't have as a ramsey rule that you put down 20 on your first house it just saves you pmi that's all it does and we just want people to understand that because you know the culture has gone uh you know buy a house when you're broke and we don't want you to do that so i i do want you to get the student loan paid off and have your emergency fund plus some down payment above your emergency fund but a five percent down on a 95 fannie mae conventional loan uh will be the cheapest route to go you're still going to have the pmi but it will drop off when you pay it down to an 80 loan to value and you can do that in just a few years with your great income so yeah i'm probably doing that but i'm not going to do more than a 15 year and i'm not going to do a payment that's more than a fourth of your take-home pay and i'm not uh you know and but if you put five percent down instead of 20 down on a conventional and you have your emergency fund in place and you're debt-free i don't have any issue with it okay well yeah that makes a lot of sense i really appreciate the insight yeah but just keep in mind you're paying a premium you know that on that pmi that pmi is a ripoff yeah absolutely and i i wouldn't do it i've worked out the math and it's not a math thing it's just a stupid insurance thing that they make you buy and you want to get rid of it because you're getting screwed as quick as you can that's the thing but it's not okay you know it's not a matter of i i don't i don't i just tell people you know go ahead and buy the house but get to where this thing can pmi as fast as you can uh because it's just foreclosure insurance that you're buying to protect the mortgage company pays them if they have to foreclose on you and lose money that's all it is you're buying them foreclosure insurance and it's 75 to 100 a month per hundred thousand borrowed and so it's it's a lot and and um so you know that that's the process you're in and uh uh but yeah we don't have a hard and fast rule 20 down uh especially for first time home buyers i would hold to that second third i think you just need to behave but uh where you're kicking out right you're starting your life off you know coming out of school what a great job though only eight thousand dollars for student loan debt yeah really fantastic to come out with that kind of degrees and a master's plus the law degree and he is gonna crush that in two months and the sky's the limit uh you're but you're not opposed to him saying all right maybe i'll wait a little bit or do you think because skyrocketing prices because he can do it you've already explained that but he also could wait and not necessarily it's not the end of the world white i think we get the emotions of skyrocketing prices are greater than the actual prices that's why they are skyrocketing this market's quite high it is i mean there's uh we're experiencing the same thing in our area here lots of these markets are experiencing this it's just blistering white hot i've never seen anything like it uh rental market is full and jammed here and shooting up fast and certainly the for sale market is jammed here and and it is in boise boyce is a hot market so there's a bunch of these markets out there that are that way right now but just because something goes like that doesn't mean you walk into the land of stupid you still do it with the basics in place which is what we outlined for john there well done john good job brother that puts this hour of the dave ramsey show in 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] hey it's kelly associate producer and phone screener for the ramsay show if you would like to do your debt free scream live on the show make sure you visit theramsieshow.com and register we would love for you to come to nashville and tell dave your [Music] story you

Channel: The Ramsey Show - Full Episodes

Views: 37,191

Rating: 4.8496242 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: Ae2NVULEE20

Length: 121min 15sec (7275 seconds)

Published: Tue Apr 13 2021