Stop Hitting The Snooze Button On Your Financial Alarm!

this is the ramsay show [Applause] 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 dad is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice dr john deloney ramsey personality number one best-selling author and host of the ever popular dr john deloney podcast which is exploding across america right now and uh when he talks about mental health and boundaries and relationships and crazy people in your family and all that kind of stuff and uh everybody's got em baby so he's here to help with your life and i'm here to help with your money and we will just get in each other's business and have fun talking about you folk right in front of you phone number's at triple eight eight two five five two two five that's triple eight eight two five five two two five so the people in the lobby are already pointing at each other about who's when you said every family's got em they all looked at it they all started pointing at each other he looks relatively handsome he looks like a nice guy but i think she's talking about his family no i think she's talking about him man i can't tell through the glass there let him have it it's just wow merciless already out there in the in the studio audience that's right open phones here jump in you can get on again dr john deloney here triple eight eight two five five two two five tom's in san antonio hey tom what's up well hi dave it's pleasure to talk with you i just had a question i'm probably three years away from retirement and i just wanted to know what you would think would be a reasonable percentage of my principle to withdraw from my retirement accounts once i do reach retirement why are you withdrawing principle well i'm sorry we probably i'd phrase that wrong but how much could i expect to draw down from those accounts okay do you think this will support me well i mean there's some primitive math you can do and that'll probably get you close uh close enough to where it's the math i'm going to do on mine um so the the inflation rate for the last 78 years or so not counting the last four months uh has been about 4.2 percent and that included jimmy carter when it was 12 so this four point this current six percent is going to get absorbed into that so you can figure a four four and a half percent inflation rate okay so if your money your your nest egg is not at least growing that much it's not breaking even it's deteriorating and purchasing power understand yes because a million dollars won't buy what a million dollars would 20 years ago same thing right that kind of thing and you know if you retire you got 20 years or 30 years or 40 years this money's got to last so it won't buy the same loaf of bread 30 years later for sure so you want to at least break even so i try to not draw down try to leave at least four percent of the growth in the account at least and so that it breaks even with inflation and so if you're making 10 then you could draw down five or six pretty safely right if it you know and on average and so and here's the other thing if let's say one year you made but you set it up on a six percent draw down at ten okay which is a real simple math with what we're talking about right here um and uh uh one year the thing didn't make 10 it made eight and so you kind of cut into some of your inflation or principal money a little bit well that's okay because another year it'll make 12 and you're still only pulling out six and you'll put the two back so the variance in the market will if you get if you have a tight formula or work itself out over a decade you know and so you're not going to chew up the principle doing that now that's assuming you actually make that now if you're continually not making enough year in and year out well that's the investment setup and so forth so how much money you got uh right now it's uh probably five point three million in investable assets okay you're not getting me you got a lead with that brother come on man i should have asked earlier i'm sorry well way to go tom that's awesome man touchdown it doesn't matter take out what you want three percent four percent i wasn't sure what yeah i mean you you can live a great dadgum life pulling off three four five percent off of that and never as long as it's invested in good mutual funds or something like that where you're making if you're making that 10 mark and you're pulling off 345 you're gonna be just fine i mean and you probably have some of it doing better than that some of it not doing that good but okay uh but way to go did you do that oh just working and you know when i started working i just started putting away as much into my retirement account as the law would allowed because the law would allow so you didn't make it all like investing in beanie babies or bitcoin oh heck no no okay all right you didn't get rich with nothing down real estate no okay so you just steadily invested you're boring i love you yeah well we we barred for our first house the house we're on our fifth house now but that's the only the only one that we borrowed on was our first house so we just paid cash for the others what was your what was your income through the years well about 250. okay so you make good money but you just chunked it you lived well and chunked a bunch of it and investing and there you go now you're worth five million dollars how old are you right um 64. way to go man way to go i'm so proud of you none of the kids on the internet are gonna like this guy at all no he's he's like he's like the the proper millionaire i mean this is the way people become millionaires this way not all that other crap yeah like that's why they're all kids on the internet for a long time and then ta-da yeah it didn't hit the lottery didn't make his money on beanie babies it's like driving down the road and there's that sign on the side of the road that says call me and ask me how i lost weight and you call them and they say diet and exercise ta-da oh oh yeah that'd be that'd be five bucks yeah man josh is in austin texas hey josh how are you i'm pretty good dave how are you better than i deserve what's up hey dave i had a question so me and my wife together make about a little bit over a hundred grand a year we have um which is about 17 18 and then a boat i just bought foolishly not too long during the pandemic and that's about 17. so my main question was that's that's our debt and then she has about 10 000 in student debt um that's all the debt that we have um that's all one main question i don't think that's the right phrase it's like oh my god i'm so scared because i'm so deeply in debt is the right phrase well i mean it could be a lot worse i've seen some of my friends that i think worse well it could be worse you could be in congress but i mean it still sucks yeah exactly and by the way hey hold on hold on that student loan debt is your debt too brother it's not just no i know and that's once we got married i'm like it's mine too so all right guys yes sir so um my main question was so we both have credit cards and we use them every month and we pay them off in full every single month um them is to correct collect the points and not the points with the cash back i mean those that we're going to pay and then expenses we're going to use every month of course you're the guy with 34 000 in car and boat debt and a student loan debt that's been around so long it looks like a pet in your bedroom of course you use credit cards you fit the profile exactly and you're foolish enough to actually believe it's working for you no and i don't i don't think my question is you start telling me about the airline points no i don't i don't use airline points it's all cash back and i run it into my son saving whenever i cash it out but i guess my question is um i have about thirty thousand in stock and then um i have my 401k which i can't pull until i'm retired but um would you suggest i just take it let me ask you something let me ask you something do you really want to work on this if i tell you what to do will you go do it yes sir all right you hold on to the break and i'll help you this is the ramsey show [Music] [Applause] [Music] [Applause] [Music] what makes our show unique is that we genuinely care about our listeners we're intentional about choosing the best advertisers to recommend blinds.com is no exception they offer high quality window treatments at unbelievable prices and they make it simple to shop blinds shades and interior shutters with easy online ordering free shipping and a guaranteed perfect fit go to blinds.com and take advantage of this week's special savings [Music] dr john deloney my co-host today ramsey personality you can hear the dr john deloney show new episodes every monday wednesday and friday on youtube and anywhere you listen to great podcasts and uh tune in there all right we're talking with josh josh is in austin texas josh has 17 000 on a boat he just bought 17 000 on a car 10 000 on his wife's student loans and he's asking about using credit cards as long as he pays him off every month and gets the points that he puts into his son's savings is that a fair summary of what you told me sir yes sir okay how old are you sir i'm 30. oh and you make 100k that's the other thing yeah then all with my wife and me yeah household household income yeah okay listen okay and you've not been listening to us for very long correct no sir i decided my dad told me about y'all about a year ago okay all right so um instead of giving you the uh snarky smart i like answer then i'm gonna uh be uh gentle because i was assuming when you were asking all of that a while ago that you knew a lot more about what we teach than you do so let me back up a little bit and tell you this okay we've done coaching with families teaching them how to handle money for 30 years tens of millions of families and we just finished and published in a book called everyday millionaires a uh the largest study of millionaires ever done in north america studying how they did that okay because the subject really is when i'm talking to 30 year old josh who makes 100 000 household income what is the shortest distance between where you are now and wealth how fast can you get there what's the fastest way and the most the highest probability of getting there without being crazy and taking a bunch of risk and being rash and unwise what is the way that most millionaires become millionaires and if i can get you to do that then you have the highest chance of prospering and that's my goal here okay yes sir okay now given all of that the first thing that we discovered many many years ago and we've taught successfully and it's led a lot of people to become millionaires is your most powerful wealth building tool is your income and when you give your income to someone else in the form of payments debt you slow down inhibit the ability to grow wealth because if you add up for instance the average car payment in america right now josh is a little over 500 a month if you invest 500 a month from 30 to 65 in a decent growth stock mutual fund it's about 5 million hope you like the car because that's what that car payment cost you if you keep a car payment your whole life like most people do but they could have had five million dollars instead they kept a car payment their whole life because the fact that they had a car payment was normalized by our culture and they weren't feeling any pain from having the car payment kind of like you yes sir it's not bothering you at all it was bothering me more that you had a car payment a while ago than you you follow me yes sir and i used to have a truck so i had a checkpoint i'd say probably a couple of months ago that i completely paid off that's good and i'm sure you're heading in the right direction and then you went and bought a boat to replace the payment yeah pretty much but i just just go with your car and then pay off the boat so here's the thing if you if you're gonna commit to a millionaire plan the shortest distance is two things one is to avoid debt and so you don't go buy boats unless you can pay cash for them and you don't go buy cars unless you can pay cash for them and you take the debt that you have and you work really really hard to get rid of it as soon as possible okay um and then over to your other question uh in all of the millionaires that we studied and we studied over 10 000 of them not a single one said they made their money by efficient use of credit cards and collecting points and marilyn miles not one that's not a millionaire game that's a middle class falling for bank of america's bull crap game discovers bullcrap game where you make them rich and so the millionaires some of them do what you're doing and some of them use a debit card and just pay for things because they don't want to take the chance of rationalizing their way into credit card debt which you're about a half an eyebrow length from doing you're gonna accidentally fall into credit card debt one of these days doing what you're doing because you're undisciplined in handling your money right now and i'm not picking on you i'm just observing okay now you can do what you want to do you're a successful young man you make a hundred thousand dollars a year you have all the toys and all the things out in your driveway that make people think you're making it but you're broke you have forty four thousand dollars in debt you make a hundred thousand and you're calling me about how to efficiently use a credit card to give your son four dollars in points into his little account and so you know you need to back up and say am i willing to change some of that am i willing to go another direction okay and um so i'm i'm hitting you pretty hard here but the biggest enemy of uh of success is not failure it's mediocrity because you get comfortable in the middle ground of average and you'll be average you right now statistically are a normal american and normal sucks work your whole life end up with nothing and it all went to freaking banks in the form of payments and none of it went into your mutual funds now you got some going in your 401k that's good so i would take your 30 000 in stock i would cash it out and i would pay off your wife's student loan in your car and i'd sell your boat today now and now you're debt-free and now you can start building some wealth and you can buy you another boat later i've got boats i love boats i got two master crafts sitting on the lift waiting on me to head down there this weekend to the lake house i love boats i'm not against you having a boat i'm against your boat having you and you paid as much for the stinking boat as you did your wife's car dude really it hit me i think you and i have talked about this privately they hit me a few years ago these the credit card company or the airline company's not my friend like they're not hooking me up and it's it's like hey come here behind the buildings i got something for you hey buy 10 of these things bro i'll just give you 10 bucks that's that's what hap what's happening they're investing in the in the potential that i'm gonna fall down they have looked at my debt profile they've looked at the way i spend money what i buy i buy it on they know more about your behaviors than yours that's exactly right and so they are gambling on hey we're just going to keep getting they're not even gambling yeah that's true it's an actuary table they know they're making an investment that i'm going to fall down and they're just waiting 10 bucks a month 20 bucks a month 20 bucks a month 20 bucks a month ah there it is his transmission fell out and he just put 10 grand on this credit card they know what the probability of you being in credit card debt is better than i know or you know 100 and you're you're you're making a hundred grand you're living in that zip code they know what bottled water you drink dude that's exactly right i mean the marketing analysis on the data on you uh especially these days with google where they're just completely they follow you they're they're they're completely going through your underwear drawer every day they know everything about you yeah and the nightstand i mean they're going through everything everything and and you've told them everything voluntarily and so now they can track you down and pin your ears to the wall i know because we do it we buy very targeted google ads very targeted facebook ads to get you people to plug into this stuff right and so i and we're not nearly as sophisticated well you're the most altruistic businessman i know and so yeah anything off of that but here's the thing they're giving you that flight for a reason yeah they're not your friend yeah and by the way it's it's never the good flight yeah yeah so jupiter has to be aligned with mars you can only travel on the age of aquarius so um under you know under the red moon or the blue moon which is it you know it's unbelievable yeah so try lining up those dadgum air but the the point is study what people who are wealthy have done not what theory is a lot of broke people and i i grew up this way we sit around and talk i sit around the campfire sit around you know everybody's playing uh spades and sitting there and on friday night and all the neighbors are sitting around you're playing pinocchio or whatever our parents played you know cards and and they're all talking about they've all got theories about how rich people really are and all of them are wrong every one of them if their theories were right they wouldn't be sitting at that table anymore that's right because they would have understood that yeah but so your broke friends all got all these financial principles in theories and so hey cash all right josh if you're ready to change you tell kelly if you're not don't it's okay if you're just mad at me it's alright too because i'm here i've got a gift to that if you tell kelly i'll sign you up for ramsey plus and put you through our class and teach you how to do this and i won't charge you a dime [Music] [Music] so [Music] dr john delaney ramsey personality is my co-host today this is the ramsey show where we give you common sense for your dollars and cents and your life ed and liz are with us in grand rapids michigan hey guys how are you great how are you better than i deserve it says on my screen you're debt free congratulations how much did you pay off 335 000. how long did that take nine and a half years all right and your range of income during that time uh 96 to 144 000 good for you what do you guys do for a living i'm a teacher and i'm a physician assistant all right well i'm guessing since it took nine and a half years and it was a lot of money maybe you paid off the house we sure did [Music] talking to weird people way to go you guys how old are you guys 34. and you have a paid for house that's ridiculous what's this house worth about 350. [Laughter] and you're 34 freaking years old wow that's so awesome man i'm so proud of y'all well done well done touchdown all right tell us your story what happened nine and a half years ago that put you on this ramsey type journey you're on sure so after we got married we kind of wandered in and out of debt with home improvement loans car loans we were still paying off student loans using credit cards and you know we thought that we were doing well because we would pay it off before the interest started or you know immediately after and you know we were just kind of playing with fire because all it would have taken was one loss of a job or a big expense and you know things would have would have gotten ugly real quick so we really didn't start the kind of gazelle intense until we found out that we couldn't have biological children and we realized we'd need about 25 000 for each adoption and we were planning on doing it twice and we didn't want to go into more debt with our children so we did fundraising and we did extra work to cash flow both of those during while we were paying everything else off and wow around that time we found you guys and we paid off the rest of our debt and mortgage in a short period so it had taken us seven years to pay off you know all those things in our 75 000 mortgage and then two and a half years to pay off the other 75 of our mortgage and we did the last 46 in the past nine months yeah when you can see the finish line you sprinted we sure did that's incredible i know most of my friends in my life can't do a workout program for nine days how did y'all stay on this for nine years um so we started i guess just before we even knew about the the kids it was well let's just pay off our our house and we threw extra money at that for a long time um having that kind of be our ultimate goal to get that paid off um and then you know when we kind of saw well we started watching the amortization schedule we're like hey we could have this paid off by this time and then it was like well maybe we could have it paid off by this time you know we we just kind of watched that and it really motivated us to see we were so close let's let's keep going um my motto was debt free by 33. okay and you made it huh or real close all right so um you've been married what ten years yeah yep and you and you uh you found us how long ago about four and a half five years ago okay so that you were already kind of on the general path and all we did was just help you tighten it up is that how this works um yeah i mean i think we were still like i said using credit cards and things kind of prior to you guys um i think you know we were kind of playing with with fire we were doing okay but we weren't in in good habits i would yeah and how did you find us radio or financial peace university or what yeah through podcasts and the radio show i was listening to okay cool cool how much is in your retirement right around 100. okay so your net worth's about a half a million already and you're 34. so that means you're probably going to be millionaires by 40 or so we're hoping that's the track you're on you'll be baby step millionaires you've done this stuff the way we teach i'm so proud of y'all thank you what do you tell people the key to getting out of debt is you're 34 with a paid for house you actually know well i think uh it's just having the budget and we have meetings weekly still it used to take a lot longer and when we look back at our first couple of budgets that we did once we found you guys they were really ugly and messy and now it's just kind of habit and the budget is so important and i also teach your foundations class at the middle school that i teach at thank you and yeah and uh the one episode where rachel talks about driving in reverse that's what we were doing with our credit cards we were using them um you know we were driving reverse and always looking at what we had paid now that we use just the debit cards or just cash now we can actually see forward and it's a lot easier powerful very cool very cool yeah you got to be careful what you teach because you'll learn it right yeah nobody holds you accountable like a room full of middle schoolers either right right yeah they're savages man yeah so teach you really do this or not huh tell the truth what's it really like yeah they're they are savages 13 year old savages yeah wow way to go you guys i'm so proud of you what are they what are the kiddos names and ages so eddie is four and elliot is two joy of your life huh yes yes it was it was a long road to uh to adopt them but it was it's a beautiful gift from god and we um we are just so so blessed yeah you received a beautiful gift and you gave one too yeah fabulous so so beautifully well done well done well done yeah their pictures are showing up on the youtube feed and we're seeing them here they're great looking young guys look like full-on boys i love it oh yeah they are they are 100 boys yeah i love it well congratulations you guys we're so proud of you we got a copy of the legacy journey for you that's the next chapter in your story as you're on your way to baby being baby steps millionaires and of course we'll give you another copy of the total money makeover as well so you can give it away to someone and get them started on their journey because that's the as you know that's the roadmap the blueprint on how to get where you are at 34 years old you guys are so impressive all right count it down let's hear a debt free scream three two one [Music] i love it so you know what my problem is one i have talked to ed and liz 70 000 times in 30 years so when josh calls it just wells up in you and i know he should be them instead of him yeah i i i i'm already over there and i have to stop a minute and try to get josh to go with me yes because i already go over there and i'm like i'm just going to kill you that's right i'm just going to kill you right here on the radio in front of 22 million people and it's it that's not fair to poor josh because he's new to the game he's just figuring it out he's just getting there and it wasn't fair to him to just take his head off and i didn't so but here here's where they're 34 he's 30. they make about the same amount they make about the same amount of money and their house is paid off yeah and four years later if he sells the boat he does this stuff that's why i and the problem is and you've done this in counseling as well sometimes you want it for them more than they want it and you can yeah i can never get myself in that trap because then i start wearing other people's garbage and you can't do that no i'm not wearing his garbage no i'm not you i'm just saying get him see it i can see he can do it for him i know he can do it i mean i know because he's got more data stored in my brain on this subject than any human walk in the planet he's taking these five dollar checks from discover and thinking you know what i'm really hooking my son up for the future don't get me started uh what if you didn't have a house payment you give that to that little boy right or instead of giving him a uh yeah or how about adding a huh our 50 000 to the equation for adoption while you're on the journey yeah and go ahead and knock it all out baby exactly let's just just put that in there too while we're at it ding ding see the point being folk you can do this but you know what the number one barrier of you doing this is is you believing you can do it that's right number one and i can't make you believe i can teach you i can show you i can be funny i can yell at you but i can't make you do it but there they are the two bookends right here in one hour one hour man this is the ramsey show [Music] [Music] dr john dolone ramsey personality is my co-host [Music] if you'd like to participate in the dr john dolone show you can email him at ask john ramseysolutions.com ask john ramseysolutions.com or even call and leave a voicemail and he'll get you on the phone make you part of the program it's a call-in show at 844-693-3291 here at ramsey solutions we want to transform so many lives that disruption spreads like wildfire across our country imagine a world where it's weird to have a student loan where everybody pays cash for cars where a credit card is the cigarette of the financial world it's no longer cool imagine that level of disruption imagine a world where people have learned from dr john delony how to do their relationships at a whole different level from ken coleman how to run their careers at a whole different level if you want to join us on a crusade that's transforming people we're currently on the hunt for software engineers ruby on rails java c-sharp front-end technologies if you're a ux designer seo content marketing specialist we're hiring about 300 people this year and 150 of them are tech and uh so if you want to actually do programming on something that matters and where you get to see the results of it and by the way work only 40 hours a week we don't work 80 hours a week here even our coders don't work 80 hours a week here even our platform guys don't work 80 hours a week here we go home to our families in the evenings we're not confused about who's in charge here if you want to find out about the available jobs text work to 33789 work to 33789 our question today comes from blinds.com they have a 100 satisfaction guarantee even if you mismeasure or you pick the wrong color they'll remake your window blinds for free you get free samples free shipping and with the new promos they run every month you'll save even more use the promo code ramsey to get the best possible deal all right today's question comes from steven in ohio he says i'm 29 and i work as a security guard earning a little over 19 thousand dollars this year i live with my girlfriend and her two sons and i'm barely keeping my little family afloat i'm stressed out because i can't get my girlfriend to be financially responsible even though she says she's on board she voluntarily cuts her work hours leaving the bills to me the only thing she helps with is groceries because she receives food stamps how do i get her motivated about budgeting and saving if she won't get on board should i give up the last two years with her and these boys who man um brother you are being taken advantage of and you are financially supporting somebody who's not invested in you or this family or their safety and security and i know that's hard to hear because it clearly you're you love this person and you love her kids and you even refer to them as your little family right now they're not um you are a outside participant who has been duped into paying for everything for everybody um this is hard you can't get her motivated about budgeting and saving you've tried she's not interested in that she's interested in you paying for her life and her boy's life while she does whatever she wants to do um this is heartbreaking dave can you um can someone like her uh is there a percentage chance she's brought around with the right scenario or is this just walking papers um i always default to henry cloud's famous saying which is she needs some problems she needs some challenges um right now she's got a guy who's not making hardly any i mean he's yeah was he just barely over the poverty line here yeah um he's struggling security guard work is hard and it's late nights and it's exhausting all that and um i think she needs and i hate to say that because she's clearly had a hard time she's got two boys she's got a tough road ahead but um i think she's got to recognize oh this just doesn't actually happen this way and i'm here here's my guess dave and this isn't fair because again these things you never know the full story here if stephen left there would be somebody new in relatively short order i think and i think stephen i just read through the lines here man it looks like he is trying and working and thinking and dreaming um but it's got to be heartbreaking yeah so i mean a best case scenario is he uh says okay the number one thing that breaks up families and breaks up marriages is money and money fights money problems and money fights and you're having one and you're not even married and so um to see a future of this getting better without a an abrupt turn a u-turn in the behaviors um then then then yeah then you're just kidding yourself because let me just tell you if you gonna make a hundred thousand this doesn't get better it gets worse it magnifies worse it magnifies it and uh reading this thing he cares more about this little family than she does well then then she doesn't know how to she's one of the tools that's right she know the tools so i you know if um i always want to give somebody a shot always you know so it wouldn't sound like i'm just done because you're just too stupid to help and i'm walking out of here okay so instead i i but but i'd also don't want you to live in denial and four years from now still be waiting on our change because that's bs okay but i would say something along the lines of hey number one thing breaks up families and we're not even really technically a family yet there's money fights and money problems and we got those and so in order for me to stay here and in order for us to move towards marriage and move towards life and me move into my new career and double my income we're going to have to be on the same page about this and that's going to be we're going to get this family balanced and off of food stamps you're going to be working and i'm going to be working and we're going to be living on less than we make and we're going to be responsible if you don't want to participate in that then that's you're saying no i don't want you here that's right and that's the price of me being here is that we're going to be grown-ups and that's steven looking in the mirror and saying what do i need like what what what do i need in my life that's going to help me see my reflection with dignity and respect and value and right now he's trying to get that by solving everyone else's problems he can't right so that's him looking in the mirror saying the toxic horrible old joke is if you're going to marry a woman who loves spending money you better enjoy making it mm-hmm okay and that's you know that's obviously a you know a backward horrible joke but especially in this setting but uh but i mean you know if you marry a princess she ain't gonna grow up to be anything but a princess right if you marry a guy who's lazy he's not gonna grow up anything anything but lazy if you marry these things and so unless they got to be a change unless they go they have a moment and they have this epiphany and sometimes that's an intervention of sorts yeah that you're saying it's an ultimatum you're saying i don't see this going good going anywhere good 10 years from today so i'm not going to do this anymore based on momentary feelings right now if if we can do these things then i can change my mind about it going forward and i think we can go forward but uh even as much as i love you i can't participate in this anymore and that's what henry cloud our friend again says is a necessary ending it's when you lose hope that the future is going to get better that's right and i i and i think it's important to call this out he says here at the end if she won't get on board should i give up the last two years yes dave we see this in investing and we see this in relationships this sunk cost idea yeah and i talk to so many people in the relationships that say well i've got seven years in and yeah he's verbally abusive but i've already got seven years what two years are you giving up here these three years kind of sucked they sound like they've been really brutal on you right yeah so yeah bring me yeah thank you may i have another that's right no thank you i think i'll pass on that so i get the investment man but yes sorry it's not it's not an investment it's um it's when you didn't deal with this earlier is all that two years was you you did you should have dealt with yeah you moved in with her you did all this stuff in the wrong order and you set yourself up for failure and that's that's where you're setting today my heart's broken for both of them man yeah i i it would be very cool if they could sit down with a marriage counselor with a pastor and someone guide them through getting on a long-term vision for their end quotes little family that's right so we're going to get married we're going to both work we're going to both be responsible we're going to bring in more income we're going to model these little boys get this thing off the poverty line so these little boys can can have a better life and we're going to be grown-ups because what we're dealing with here is he's got three kids that's exactly right making 19 000 a year man or woman is not a man or woman thing it's a child thing adults devise a plan and follow it children do what feels good dr john deloney good hour good hour to james childs our producer kelly daniel i'm dave ramsey your host we'll be back [Music] have a friend or family member that needs a daily dose of ramsay 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 ramsey 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 dr john deloney ramsey personality is my co-host today you jump in we'll talk about your life and your money and uh his show the dr john dolone shows where we talk about he talks about relationships talks about mental health anxiety depression all kinds of wild stuff and it's with regular real people they're not all crazy and it's uh it's downright informative entertaining and a lot of times folks dealing with trauma all kinds of things so monday wednesday and friday you can find it on youtube or anywhere great podcasts are listened to so wherever you tune in for podcasts you can catch him there and be sure you do meantime he's right here open phones at triple eight eight two five five two two five jenna is with us in saint paul hi jenna how are you i'm good how are you better than i deserve how can i help well about five years ago i took financial peace and was following the baby steps and made it through the first three baby steps and really enjoyed it and just purchased about a year and a half ago my first my first home good for you and yeah it's half paid off so it was really exciting wow um but yeah it was it was really fun um but now i'm really nervous about um retirement and i haven't um thought about baby step number four that whole investing piece makes me really nervous about should i pay off the house first should i start investing i'd rather pay off the house but [Music] so let me get this straight you learned a financial process called the baby steps and you've used them very very successfully to get where you are and you've done very well by the way and now you're wondering if they really work now [Music] what happens after baby step three jenna baby step four baby step four is put 15 of your household income into retirement if the first three baby steps work kiddo the last three are going to work and they're going to lead you right to wealth yeah i think the thing that's really intimidating about baby step number four is just feeling like i don't understand the process as much as when i had a number i was like oh i'm saving for a down payment i feel like i'm making progress good you know but you've never bought a house before right no was closing that house not a little bit intimidating and scary it was scared me to death yeah first time my clothes don't want scared to pee out of me so um i understand okay i get it but that was brand new thing and you went and learned how to do that because it was worth learning how to do and so the same thing's true with investing when you get off you click smart vester at ramsey solutions you sit down with one you remember they have the heart of a teacher why do they need the heart of a teacher because jenna needs to learn because when she learns she's not scared anymore sure does that make sense it makes sense first time you drove a car you sucked at it me too i threw gravel all over the garage door because i didn't know you didn't just step all the way down on the accelerator i thought you just hit it you know and so that you you learn everything you do is a learning process and now i drive a car and don't think about it most people don't think at all and then it shows in the way they drive their car but um but i mean again investing will be the same thing you're going to learn about the good news is it's not rocket science you don't have to be a brain surgeon to do it you just have to go sit down with somebody and begin to learn a little bit oh by the way get the financial peace university materials back out um or i'll plug you back in and you can go to ramsey uh ramsey plus and get back in it and and go through the investing lesson again and re you know kind of go back over because when you went through the first time you were just worried about debt you really weren't concentrating on the investing stuff that we teach and now you'll probably hear it at a different level you think yeah yeah i think it was definitely something that i didn't think about the investing piece the thing that made me apprehensive was my dad it's really good with finances and he had he we had a question the other day he really encouraged me like maybe you do want to pay off your house first yeah and that made me like questions so i said i'm thinking about calling listen if you want to follow your dad's plan it's okay but you called me nope that's that's what we decided to do so thank you so much so i'm gonna i'm gonna give you my plan not your dad's plan again and so uh hold on and kelly will pick up and we'll make sure we get you plugged in and so i want you to go watch the uh mutual fund and investing lesson again in financial peace university kelly i'll get you set up to do that on on ramsay plus and then i want you to sit down with smartvestor pro and once you take your time there's no rush but let's get to going 15 of your income into retirement and good growth stock mutual funds like we teach and then you know it doesn't sound like you're married or got kids so you don't need to worry about baby step five for kids college and then anything else above 15 you can find in your budget we'll go and get your house paid off too because that's we do want to do that we just don't want to avoid something because it scares us uh because there's two things that scare us things that should scare us and things we just don't understand yet yeah right yeah absolutely false evidence appearing real yeah i i i resonate with that call less for the the information i've got a great smartvestor pro more because i've convinced myself that i can't breathe underneath owing anybody anything at any time and so there's that balance of could i can i race and do and pay the house off versus do it the right way and slow down and be investing along the way too and it's less an information and more of a psychological issue for me well and here's the thing it's easy to understand if you know nothing about investing yeah it's scary as crud yeah the first time you actually open a mutual fund account and put money in there because it's in this far away land known as new york right right on wall street whatever that is everyone on the news is yelling about it yeah and they're all throwing stuff down there it's crazy and at each other and yelling and all this and uh what is this thing and how's all that work and paying off debt i understand it i give them money and there's less debt yeah this is a fairly simple transaction about as primitive as it gets so it's again she jenna you're you're concerned your feeling is not invalid it's not invalid at all but the point is the people that win push past that and get their head around new information which gives them a new reality for their future and it changes the direction of your life that's what you know be not conformed to this world but be transformed by the renewing of your mind get new information yeah yeah you know i i don't want to be the i don't want to be married that way i want to be married that way and so i need to learn what those people over there that seem to have their act together are doing um i mean i see these people their children are completely out of control the inmates are running the asylum and then i see these people whose children are like they're functional and stuff and they're not you know they're not you know running up the side of the wall and stuff and running through throwing stuff at the glass or whatever you know all this kind of thing and they go okay i want those i don't want those how did you do that that's new information yeah and you gather that information and you change your life that's what transformation does this is the ramsay show [Music] [Applause] [Music] [Music] stop paying your overpriced wireless provider and switch to puretalk they use the same network as the larger providers for much less for just thirty dollars a month get unlimited talk text and six gigs of data with no contract the average family saves over seventy dollars a month by switching to pure top just go to feartalk.com and enter the promo code ramsey to save 50 off your first month pure talk simply smarter wireless [Music] dr john dolone ramsey personality my co-host today if you really love the work you do is it fulfilling for you you know i come to work right now because i get fired up about what we do here um i don't i mean i make money but i don't work for money and i haven't for a long long time ken coleman america's career coach has taken his years of proven experience to launch one seriously power packed bundle that combines the pre-order of his new book from paycheck to purpose and the new get clear assessment this is your clear path to finding and doing work you love my team has packaged our new book and career assessment into the ultimate career bundle all of this book assessment everything if you buy the bundles only 30 bucks now if you buy the assessment it's 30 bucks so it doesn't make sense don't do that don't do that the bundle will show you how to find your talents your passions your mission find a job that combines all three so that you can actually do the work you love this assessment will give even give you a list of professional career options based on your results and it's not like the old days this is a highly dialed in stuff plus you can pick between the get hired bonus pack and they get promoted bonus pack and receive for free a hundred dollars worth of other goodies so you want to check all this out you don't have to buy the lie that work is unfulfilling get the ultimate career bundle go to the online store at ramseysolutions.com and get the new bundle for only 30 bucks uh when you do again you're gonna get over a hundred dollars worth of goodies jennifer is in houston hi jennifer welcome to the ramsey show hi uh thank you so much for having me my pleasure quick question uh we are on baby step uh four six and seven um we completed baby step three then my husband and i have a difference of what that looks like so would we save three to six months worth closer to three or six and does that if we like say if i lose my job today right i'm not gonna go get my nails and hair done so like down to the bare minimum or what actual six month spending looks like uh probably between these two at your stage uh and you can pick the three or the sixth month that's not the issue but then is it absolute bare bones or does it mean no uh uh known there no no hair no nails all that kind of stuff so um uh uh what's your household income uh about 160 yeah and um how old are your two cars uh how old uh i just bought a car for cash of 2014 lexus and he has a uh 14 expedition okay you got two good cars yeah you're not you're not dying on cars so here's the thing that i discovered and the reason i'm asking these things when you're broke and you're just getting started you remember those years back in the day everything's a freaking emergency because you're broke right and you're driving junk cars and you know you haven't done all the maintenance on the house so even more stuff's breaking and so it's like you're in the fact that you're broke is inviting more strain on the emergency fund later on when you've got more money and the air conditioner is getting serviced regularly on the house and as soon as there's one little thing on the roof you fix it immediately it doesn't leak and create a bigger mess and it's and you're driving decent cars so they're not breaking down and you don't wait until there's a flat tire you happen to notice when they're going getting a little bare and you go change them out early where when you're broke you have to drive them until they blow you know and so what happens is you get more margin in all these areas of your life so the weird thing is is the more money you get the less need of an emergency fund you have because there's fewer emergencies is that logical yeah absolutely and we have a 2 15 year old and a four-year-old and then the only other factor would be that um i'm wondering if we should pile it up a little more i hate my job i've been looking at ken coleman's stuff and my performance has not been where it should be just because i'm i'm just making myself get up and go to work every day um should we add a little more to it yeah that's not an emergency okay that's a transition if you want to set some money to the side for job transition you can do that feel free okay feel free set your 10 or 15 20 grand over there for job transition but let's not confuse that with the emergency fund the emergency fund's for emergencies this is not an emergency this is a problem we need to fix right christmas is not an emergency it's always in december it's predictable it's predictable that two years from today you're not going to be working at that place god i hope not and jennifer listen can i can i you didn't even ask this can i push on you for a second please do please don't sacrifice your dignity and your respectability in your work ethic and say things like my job performance is slipping just because i don't feel like going anymore if you're still employed they're still taking their money show up and give a thousand percent and then when you're looking for jobs give a thousand percent on your job transition but you will it will keep you from walking six inches lower right with your head held up you will walk with your head held high your chin held up you will clean out your desk when you get that new job with a smile on your face yeah i don't know you're not a person that mails it in no that's not who you are yeah so but yeah go ahead and make the transition and set some money aside for that and if you want to um what's happening is is that transition is scaring you and that's what's making you want to put the emergency fund on up and so put 25 000 over there right quick in the next few months to make this transition that's not that's a transition fund it's not an emergency fund and then you then you won't be worried about your emergency fund anymore because your emergency fund probably just fine i love that idea dave so that's the you would a transition a new baby coming you need to get a new car none of those are emergencies those are just we need to have a sinking fund that we create and save up for that yeah you know what the problem is and it's not her situation but it's just all of us in america we were just taught to have a savings account that's it that's exactly right one and you know what a savings account is it's a put and take account you put money in there you take it out put money in there take it out and buy a bass boat put money in there fix air conditioner put money in there put stitches in the kid's head put money in there okay so put and take put and take put and take and so it's all this stuff is combined in this one general account that that you always watch it and it just never seems to do what it's supposed to do because no one knows what it's really supposed to do it's never enough or look at all that money i got right yeah and when you separate out your savings and you say every savings dollar has to have a job a mission an assignment okay this is you this one's job is transition this one's job is christmas this one's job is car replacement and this one's jobs emergencies and don't confuse them i love that buying a bass boat is not an emergency there is no situation ever on planet earth in which you can describe a bass boat purchase as an emergency it's not on the list i can emotionally get there but intellectually we're all laughing right now right and so you know that that's i was forced to buy a new car no you aren't they didn't have a gun you chose to buy a new car and so these are the things but that's the reason is it and it helped me a ton uh because my nature's not a i'm not naturally a saver it helped me a ton to say these things have a goal because i am goal oriented and once i have something with a goal then ding ding ding ding i can do it i love i'm writing that down every savings dollar has a job too different than your light bill or your food or what every every dollar you are saving has a job as well it's a little bit of the frustration of when you're investing just in general and what do we do we call it we're saving for retirement yeah what does that even mean what does retirement even mean and uh you know we started saying a few years ago around here you know retirement's not a number it's not a number it's a it's a it's not a it's not a destination it's not a thing so all we're really saying is we want to build some wealth but when you don't even have that you know it's just very vague it's like i just want a big pile of money yeah there's it's not motivating nope but if you say you know i want to build a hospital for children and that's going to cost 40 million dollars i need 40 million dollars now you got something you're aiming at i can go get it yeah then you can go get it you got a reason for doing this it changes everything very cool stuff dr john dolone ramsey personality my co-host today this is the ramsay show [Music] [Music] [Music] [Music] dr john deloney ramsey personality is my co-host today in the lobby of ramsey solutions on the debt free stage jared and katie are with us hey guys how are you hi hello welcome welcome good to have you guys so here to do a debt free scream how much did you pay off we paid off 110 000 and wow nine months good for you nine months and your range of income during that time 200 to 250. what do you guys do for a living i'm a digital marketing analyst and i am in marketing and sales for a large media company awesome very cool good for you guys great careers obviously great income what kind of debt was the 110 000 mostly credit card debt so a small portion was car payment um but it wasn't very much it's about six thousand for the car a lot of credit card debt how long have you guys been married 19 years 19 years 19 years married when you were four wow yeah i was about to say three or four years you all look so young 19 years yes okay so is this like 19 years of slightly overspending every year and you looked up and it was 90 or 100 grand or was it like you had two or three little events and you just went nuts i'd say we never really had a budget we didn't really know how to do it and didn't really think about it and then we had a house and it flooded and we had moved to tennessee and we were going to rent it out it was in virginia and we just um that was a big portion of it paying off paying two mortgages okay um that escalated it to the hundred thousand range so half of it was just steady stupidity and then half of it was big problems right exactly yeah which is always how it goes right so a year or so ago right covered time something the phone rang and there was a wake-up call you had an oh crap moment or something what happened tell me about it yeah we were um finally able to sell the other house so it was hit by a storm and it took them four years to rebuild it and we finally sold it and got off the market and but we didn't make any money off of it yeah we didn't make any money off of it and we looked at where we were and we're like well this is horrible we can't continue to do this yeah we make too much money to be this broke yeah and we're just juggling our debt well i was just juggling our debt and then i was keeping some of it from her so she wouldn't realize how how bad we were oh how is that conversation that's hard i didn't know as much as i should have and i just was assuming it was going to get better and you know we'll figure out college for the kids and you know when we had that conversation it you know took a little bit of counseling a little bit of talking and we talked about the book and um we decided to gung-ho go all in yeah i um i knew we had to do something i reached out to my friend carolyn who works here and um just said hey um i i really have some debt that i need to take care of um i know you work with dave what do you what are you guys is all that stuff real or not yeah you know does that work and the next day i i mean literally the next day i had your book in my mailbox she was like almost like she hand delivered it to me um and i read it and then katie read it and we said if we're going to do this we're going to do this and it's been the best thing so the total money makeover baby steps just go all in all in all it's all or nothing we got the kids on board they were super psyched how old are your kids we have twins that are 14 and one is 12. so jared most of the time when i hear uh she didn't know about all of the debt um there's a percentage of the time it's uh you're just being deceitful and you're doing all the scrap on the side i didn't want to know about but most of the time that's not what it is most of the time it's like this is my job and i feel ashamed that i have failed and let this get this bad and i don't want to admit it out loud yeah is that kind of what it was it was holding back because it wasn't like you were setting out to deceiver no it's my responsibility to take care of her you know i felt that obviously that's not true but that's that's that's the types that play yeah yeah it's my responsibility i'm head of household i'm gonna fix this eventually let me just keep keep it in the air until i can deal with it yeah so yeah it was rough that that was hard on our marriage too so yeah what was the moment you said we need to talk um it was after that we when the house sold yeah when the house sold that was kind of the kicker it was like okay what does this do for us this is um this we're still in the same spot we want to buy a house we've been renting here for six years and we love franklin tennessee it's amazing um wanted to buy a house and um it was now like well how are we gonna do that i still have and i didn't even know we had a hundred thousand dollars you know it it was so unattainable to be debt-free that i just didn't even care at that point i was i why even look at it i'm just juggling yeah so katie not to put you guys on the spot but this is a great story of redemption really um uh and it's good for other people to hear yeah because there's what you guys have gone through is like almost everybody goes through this exact same thing so he comes in and says uh i gotta talk this is he's kind of like laying down his pride and saying this is screwed up it's on me but it's worse than you ever dreamed what did you hear when he said that yeah it was very hard to hear that that was the reality um and i actually did feel like i had some responsibility too it's my job to also know it is what i'm saying i mean but was it like fear that you heard yes mad at him for for not telling the truth or what yes she's too nice to admit she was she was angry there was a lot of anger and i it took me a while to understand why you know it's like well this is you know it's my job and part of it's part of it's angry because you're in the whole situation right and part of it is because he didn't tell you yeah of course that we're never going to get through it we're never going to get out of it why did i not know why didn't you tell me um yeah and we've somewhat dealt with this earlier in our marriage and it was just a big pile of it and we you know we wanted to finally like get to a good place well the reason i bring it up is you're a great example of a healthy way of handling this because most people don't handle it healthy that's right it explodes right and then there's shrapnel everywhere and especially on those three beautiful little kids right yeah yeah and we couldn't let that happen and that was the beautiful thing about this is the kids got to see us actually do this and we get to explain to them this is why we're not doing everything we used to do and this is why i'm saying no to this and we're going to do it right and we're doing it together which and they they smell the air change in your marriage yes the cleanliness and the connectivity they you can't keep that that stuff's in the air that's right yeah and this is a whole other show but you alluded to it a little bit a conversation like hey we're a hundred thousand dollars in credit card debt and i haven't told you there's other stuff you all needed to talk about too and the whole the oxygen filtering your home is lighter now right everybody in your home is different now because you all had the courage to put on the table to forgive one another to say i'm sorry to say let's build something new were you there that's exactly what it was it's made our marriages 100 better so well congratulations you changed an entire legacy of those three little boys you've changed your legacy and there's millions of people are stuck thanks for letting us drag all that out because because not not it's not for you it's for all the 22 million people listening because everybody if you can go hey everybody messes up but here's there's there's hope the other side of the mess up you know so congratulations for you guys what do you tell people the key to getting out of debt is gazelle focused okay uh communication is the key to everything right like communication is the key to marriage but for sure in this story it's just focus and keep going just keep going you made plenty of money so as soon as you just decided and both of you were game on and everything's on the table you just went after it oh yeah most of that was going to credit card interest just boom just got surprised have a plastic surgery party and go to town yeah yeah it was just focus well we've got a copy of the legacy journey for you and the total money makeover another one so you can give that one away to somebody because you probably know somebody like your friend carol that works here knew somebody so there you go congratulations i'm very proud of you you're a very cool couple i love it very neat 110 000 paid off in nine months making 200 to 250 it's jared and katie from nashville count it down let's hear a debt-free scream three two one we're [Applause] love done so yes yes your show and this show will always be intertwined always this is the ramsay show [Music] [Music] [Applause] dr john baloney ramsey personality is my co-host today open phones at eight eight two five five two two five briana is with us in cincinnati hi brianna how are you hi i'm blessed how are y'all better than i deserve what's up um i just had a question so i'm 23 um i have two kids under five and i want to go back to school i've been taking some online classes um towards like a associate's degree but i'm ready to actually like put it in full gear and get a degree in economics so i can better our life it's just scary to leave my job that i have now and pursue that so i just wanted to we're single yeah well i'm married but we're separated so that's a whole another that's a whole another uh talk i guess okay and um what is the goal career-wise with an economics degree well i think it's just like i want to go to law school so i was looking at degrees that you know could give me other opportunities if i ended up not wanting to go to law school but i've always wanted to so um so honey i worked at a lot i worked at a law school they'll take you man we had students with literature degrees and psychology degrees and math degrees and analysts economics by itself doesn't sound like a degree that's going to be easy to roll out of law school with data analyst yeah absolutely yes business yes um economics i don't know a lot about that but i don't think that's as viable as an option as you think it might be okay so here what john john is a phd in higher education he's worked in universities his whole life okay uh until until just a couple years ago when he came here and so um uh what we're looking for is uh if you don't go to law school which degree that could have gotten you into law school also gets you into a great job if you choose not to go to law school that's what he's talking about so right now any job will get you i mean any degree will get you into law school so let's put that on the back burner and go with what dave's about to talk about let's get a degree that's that gets you into a position right to make money because that's what you're looking at is how to better your life now how in the world are you paying for all of this including feeding these two kids while you do all of this yeah so i make ten dollars and 22 cents an hour right now um and i'm barely at work because i'm the only caretaker so i'm barely even making any money but i'm on food stamps of course i live in public housing so i'm blessed to that aspect but i really just want to get out of it you know what i'm saying get out of poverty my whole family's got the history i just want to get out so i yes agreed and how are you paying for it college financial aid is covering it okay so you're going to go pell grant straight up yeah but student loans are tempting you know because of my situation so they'll guarantee that you stay in poverty is what they'll do exactly yeah they don't go away they don't leave they stick around forever until you pay them they're a problem so pell grants will cover your tuition correct yeah they'll cover a bachelor um so the law school is another story but yeah law school you can probably get scholarship to as a single mother living on public assistance you're probably going to find a law school that wants you and wants to pay for it for you that would be a that would be a doable thing absolutely the goal here what i don't want you to do is put the cart before the horse your job is to you've got a journey ahead of you and what you really want to do now you've made this decision to get out of poverty you want to do it tomorrow and that's not going to be your journey your journey is going to be going to school fighting every temptation to take out a loan that you have to turn on and pay back and you're going to get through it debt free and you're going to work and you're going to be exhausted and you're going to have to call on friends and family and you're going to have to meet people and you're going to have to ask for help and you're going to grind and grind and grind and then you can end up with a bachelor's degree that is free and clear that nobody can ever take away from you that you don't know what i'm on none it's yours now we're in a position to if you do this in a way that is um you know the way we're talking about it and if you select a degree that lands you in a type of career that um that not only prospers you but that you enjoy yeah that's my main concern too so what i want you to do is just jump on kingcoleman.com and go through a bunch of his materials i'll tell you what i'm going to give you the get clear assessment and uh and the ken coleman's new book coming out uh from paycheck to purpose i'm going to give you that whole bundle free kelly will pick up and get that all set up for you now the book won't come until later because it doesn't come out until november but we'll send you the assessment now i want you to take the assessment tonight okay and i want you to use that to help guide you into what you want to study so that you're studying something that fits your talents your passions your mission and um and you're looking at it and going okay if i was one of those i could make 80 000 a year and now i'm done with this poverty crap yeah and that's if i don't go to law school so let's plan this out that you're not going to law school okay and then if you go to law school it's gravy on the biscuit that's right yeah that's true and brianna you are changing a family system so you know what you're going to need in your life you're going to need strong brilliant women who you can have coffee with who will be honest with you but who have managed businesses before who have graduated college you've walked the road you're about to walk because you're heading off into the woods by yourself because your family the models the pictures you have don't include this and their pictures of you don't include it and so they're not gonna they don't mean to be mean but there's something about a family system that'll drag you back down to their level every time unless you've got a real breakthrough group around you okay so when you go to class i want you to get involved and i know it's hard you got two little kids and every minute feel weird like you're like you're the old woman you will provide 23 wisdom and value for them and vice versa and this will become your community i'm so so proud of you yeah this is amazing you're incredible you're amazing your kids are going to be blessed to have walked this journey with you okay but find some people find some people that walk look and talk and are like you want to be in five years and hang out with them they will lift you up to there people who are not there will it hold you down to where they are okay you become who you hang around with and those kids dad needs to put some money on the table too yeah well that's that's part of this little separation here yeah but good luck with that yeah um should should that's the whoo yeah that's a whole other call like it's my blood pressure boiling yeah i noticed that and i saw that little thing happening on your forehead there the little bump pump yeah so uh yeah that's but but here's the thing you're a hero hang on kelly i'll pick up we'll get you in the uh get clear assessment take that tonight i'm gonna furnish it to you free along with all of ken's goodies and uh bundle on his new book and everything because that's what you're exactly where you need to be uh because sometimes uh folks you you if no one in your family or your friend group has ever taken this journey then you can take the journey wrong because you don't have a good guide right and um the biggest mistakes in the student loan debacles that are out there in terms of how much debt they go into and studying stupid unusable degrees come from first generation college students no one in their family ever went to college before and everybody in the family wants them to go to college but nobody knows how to do it wisely that's exactly right and that that's how you end up 260 thousand dollars in debt with a degree in left-handed puppetry right because all education is good horse crap right no it's not all education is valuable no it's not not all education has a market value that is worth what you pay for it definitely not right some more valuable than others uh but you know so you got to get a bit utilitarian about this and go what is the actual application in the marketplace that first decision is big and she's there hey man she's got to do it right amen bust through girl good for her you call us anytime you need some help we're here we're not going anywhere this is the ramsey show [Music] hey guys this is james senior producer for the ramsay show did you know over 18 million people listen to the ramsay show every week and a lot of those people listen on one of our 600 plus radio stations across the country to find a station near you head to thermzyshow.com [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 dr john deloney ramsey personality is my co-host today as we answer your questions about your life and your money it's a free call here some say the advice is worth exactly what you pay for it the phone number is triple eight eight two five five two two five that's triple eight eight two five five two two five the dr john daloni show is all about boundaries anxiety mental health uh in this crazy world we live in you need somebody saying to talk to and he's your guy he's on monday wednesday and friday on a new podcast every one of those three days anywhere great podcasts are found and it's streamed on youtube as well so be sure and check it out and the dr john deloney show uh the fastest growing program in the ramsey lineup these days absolutely exploding so he's here right now also to answer your questions the phone number again triple eight eight two five five two two five sebastian's in little rock hi sebastian how are you hey guys i'm doing great uh i'm getting some career advice over here okay so i'm 21 years old i just got married like two months ago congratulations thank you we just paid off my wife's student loans about twenty thousand wow dollars and now i'm thinking about going to graduate school and i just want to know if that's the you know night right makes right move for me what do you want to go to grad school here so i want to go to like you know the big schools i want to go to mit or stanford and get my phd in data science just because i love all that stuff and i've been involved with research a lot during my undergrad years and as far as i know uh grad school for especially that program it's all paid for like you have to type into your rip off and then they pay for your books and insurance intuition and all that right yep uh but financially speaking if i did get my phd and i got the same job uh you know like right out of college i'll probably just be making like what 10 to 15 more by having that phd degree so i'm kind of debating if it's really worth you know spending four or five years into uh working on your thesis working in a research project just to get that little bit more extra cash at the end so there was it's been a couple years since i read the study so i'm going to butcher it up a little bit but distilled all the way down if you can get into a phd program in data science at one of those two schools the connections you make inside that program meaning the folks who are creating businesses that would co-create businesses with you that would co-create new knowledge that y'all would go on to build new products etc um would it could have a potential an infinite return and so if you're able to if you were my friend and you said hey i have an opportunity to go get a free phd in data science at mit or at stanford i would say i will come visit you in boston or southern california or central california the other side of it is ask yourself is that the life you want because you are right the next four five or six or seven years of your life will be chasing down a problem a central problem we'll be writing papers doing math equations going to things and not making a whole bunch of money and if you have the competition of power inside your own head to get into those programs you have the opportunity to go earn money right now a whole lot of it right right what's your undergrad and again uh so my undergrad will be in computer science engineering and physics and applied mathematics okay yeah so you gotta ask what do you wanna what life do you wanna live so ideally in my mind i would like to start my own business have like a startup idea that relates to your ai or machine learning and then be able to you know be able to run that business and also spend time with my family and my wife so do you have do you have the benefit of going to those programs is it's iron sharpens irons you're running around the smartest mines exactly on the planet in some of those areas and do you have the ability from wherever you are in little rock to start an ai company that's gonna does that make sense do you have the tools that you need at your disposal or is being around that type of sparring partner gonna be worth your time hypothetically yes i do have the tools and like the ability to do that right now practically though it would be more challenging it's not the same you know being in the valley in silicon valley sure developing ideas and all of them being in literally sure but so don't worry um i i think the mit phd issue uh it sounds really fun and really challenging and in a lot of ways um i think the play there is for one half of a one percent probability it's a very narrow play um that you can actually get in and get that one no no no you can get in and get through it i think this guy can do that uh but then what do you actually end up doing with that that makes that beneficial right it's a very small play and if you think and if you and if you hit it it's a home run that's right but it's not uh it's not as broad a play the broader play that has a higher probability is to say i'm going to go right now and get a job as a data analyst with some of the top data analyst people in the world at a tech based company that's really forward thinking and is doing a bunch of ai stuff and i'm going to get in there and rub shoulders with those guys in the business world and i'm going to spend i'm going to make you know 100 the first year 200 300 the third year and um and then i'm going to be from that in a position with my business acumen and having rubbed shoulders with some guys put a little bit of a little bit longer in the tooth i'll be in a position to start a business that you obviously to start and run a data analyst business you do not need a phd absolutely not the only benefit of the other thing is the iron sharpens iron and hanging around with smart people and you become smarter as a result of doing that so i i i i if you want to be a professor someday which you told me you don't want to right yeah you want to start your own business run his own business and run your own business uh the the the lift is probably not worth the the trip no and if you want a life that i want to hang out with my family i want to make some money i want to go yeah go get a great job man yeah and i i i think you go get in and here's the other thing the particular field that you're in i mean we've got uh 450 tech folk on our team uh data analysts we've got uh data scientists we've got uh platform engineers and people that do stuff i'm not even sure what they do and they're on our payroll but uh and they're unbelievably smart oh they're incredible unbelievably smart we got a real tech company here hidden behind a radio show and um uh but the uh uh what i have figured out having written all these checks for these people for years now is that that the rate of change in your world sebastian is blinding yes while you are doing this phd the world is going to completely change four times and uh you know and i think you'll have a better chance of staying up with that change in industry than you will in academia that's my opinion yeah what do you think i don't i don't know enough about i would hope that the if you're studying ai it's moving ahead of where the industry is that's my hope but who knows man maybe you're leading the industry that could be but the you know you got to keep up with the rate of change either place that's right because four years from today you're going to be obsolete in that world if you haven't kept up with the rate of change if you're not ready for a phd program if you're not 100 in go get a job make great money be with your family and start from there [Music] this [Music] still on baby step number one huh how'd you guess with health care costs rising learn how christian healthcare ministries can help you make the most out of your budget visit chministries.org don't worry it's worth it [Music] [Music] dr john dolone ramsey personality is my co-host today open phones at triple eight eight two five five two two five does it feel like no matter how hard you work you can't seem to get ahead you're stuck i know how that feels it's exhausting sometimes it's even terrifying you don't have to live like that if you're sick and tired of being sick and tired decide that you're ready to do something about it you're ready to do something different so you get different results it's time to commit to a plan that actually works financial peace university is the step-by-step plan that's helping over 6 million people pay off debt and take control of their money combine that with a premium version of the every dollar budgeting tool and you will make progress right away and it's only available with a membership to ramsey plus decide today to break the cycle of living paycheck to paycheck this month only we're taking 30 off the price of a 12-month membership start with a free trial of ramsey plus today text trial to 33 789 the free trial text trial two three three seven eight nine hugo is in maryland hi hugo welcome to the ramsey show hey dave hey john how are you guys great man what's up hey so i have a question about your recommended growth and aggressive growth mutual funds which i know they translate loosely into mid-caps and small cap funds within those funds there are blend funds which have growth and value stocks what do you think of blend funds as opposed to just strictly using a growth investment strategy in those specific market caps either one's fine uh what you're looking for is a track record a long track record giving you a positive rate of return it's that simple and so i mean if you can compare if you want to compare some that's got some blends and some value in it and it outperforms a straight on growth strategy across the board and you're comfortable with that that's fine it still qualifies the bottom line is we're participating in the stock market in a way that beats the indexes that's what you're looking for and so you know if you're in the growth area then you'd want to outperform the s p if you're in the aggressive growth you'd want to outperform the russell and that's your index that's your your benchmark your watermark otherwise you could just invest in the index funds which is the the bogle strategy john bogle famous for that he started the no load uh s p 500 at vanguard the very first one and started the whole passive investment movement because a high percentage of mutual funds over half of them don't outperform the indexes so what you're looking for regardless of what the internal mix is is something that generally fits those categories and will beat those indexes that's how i pick my personal funds but it's not it's really not rocket science um and here's the other thing it's very good that you're asking this question it's a very intelligent question it's a question that indicates you're a fairly sophisticated investor this is not your first ride on the cabbage truck let me warn you though about something that we found in the millionaire study that we did the vast majority of those millionaires were mediocre in their sophistication of investing sometimes guys like you and me that are a little more nerdy and we enjoy the nuance of all of this that because i'm having fun talking to you about it can you tell you know and so we enjoy the nuance of it we can get paralysis of the analysis and do nothing while the other guy does a lot of things but just does the medium and he kicks our butt in total net worth when the story's over in other words in actually doing the investing mediocre versus not doing it and having a bunch of theories makes people rich and so that's that's the thing you don't want to get caught up in and go i get paralyzed by these nuanced comparisons and uh you know so i mean like people come at me all the time and they're like oh you know you should just do the bogle thing and just do all indexes hey if you just do all indexes and you put 15 of your income into retirement you're going to be a multi-millionaire i got no problem with that go do it do something yeah go do it but that's better than than sitting around having a big long lengthy discussion you're writing a money blog in your mother's basement or going from bitcoin to the next thing to the yeah beanie based yeah going to be the chapter of my next title in my next chapter beanie babies to bitcoin i like it it's a get-rich-quick chapter that's right you know and so you're chasing your tail and you're not because i actually did have dubers back in the day say they were investing their money in beanie babies absolutely i remember them they were just and they're like i put my kids college and beanie babies i thought they were joking but you know there's just and you know if it's not that it's the iraqi dinar or there's always some stupid now hugo is not doing that right he's just asking for the nuances within the nuances and within the things that we suggest so he's still fine he's you're he's in bounds he's in bounds he's going to get a touchdown but you something about that question sets off in you when you start going real deep real deep real deep you're dangerously close to doing nothing or to just need to read another paper and one more paper here's the thing the interesting thing is the data tells us that what makes people wealthy is actually investing more so than the rate of return that's the thing you know and but it and and that is lost on people who love looking for a tenth of a point yes on something they're shaving something and again i'm not picking on hugo but oh it's great but uh you know it's one of the biggest knocks on dave ramsey ramsay doesn't know what he's doing yeah i actually do know what i'm doing because i actually get people to freaking invest right which is more important than all this other bs people talk about and again not picking on hugo because i love having these discussions i love nerding out on this stuff but uh uh and i love digging around in the mutual fund scratching around in there trying to find one beats the index just to prove i can out boggle bogle right but uh but bogal's brilliant yeah i mean he you know he he kind of democratized invest investing in a sense because it's anybody can do it just take the dead gum index fund and go to sleep and you know it's uh it's freaking car automatically drive itself you know but if you'll keep doing that you'll be a multi-millionaire yeah that's awesome but the the you know the there's a lot of other factors that come in if i can just get you to invest and never stop investing anytime there's a coveted blip uh uh you know a a war uh uh a scare of this or a scare of that toilet paper or whatever whatever whatever it is whatever reason it is that you're next scared about the stock market if i can just get you to ignore that and just keep going and keep going and keep going keep going and keep going keep going man 99 of the time i'm gonna make you rich doing that even if we screw up and oh he has those aren't no load mutual funds they charge commissions who gives crap you know you're actually doing it and the guy that's getting the commission's causing you to keep doing it and there if you keep doing it you're gonna have money so i love hugo i love these ideas and these questions but it's just it's a little bit frustrating because a math guy like me we wish it was a little bit tricky more complex so we could we could figure out the little trick yeah and we could go do it you know and all the regular people that aren't math nerds couldn't do it yes but the problem is anybody can do it exactly right if you just do it and do it and do it and do it and do it and do it or do it or do it good question though hugo thank you man fun discussion keith's in phoenix hey keith what's up gentlemen thanks for taking my call and i'm not sure my question is going to be as exciting as the last one but uh not anything much more exciting than comparing value funds i'm just saying i'll give it a shot anyway but uh so here's the deal we're uh my wife and i are halfway uh to a fully funded emergency excuse me emergency fund we're looking at about march of next year to be done good with that but we we have two cars in one of them because of the values being a little bit higher now we're contemplating whether we should sell one of those which we could probably get about forty five thousand dollars for we need about twenty thousand dollars more to fund that emergency fund but i'm a little bit hesitant to do that so when you're coming for household income uh we're about a hundred and forty hundred fifty [Music] what's the other car worth the other car the second car is worth about five thousand dollars i'd keep it but they're they're both paid for i keep the forty five thousand dollars it's not online it's not a problem because here's what's going to happen if you sell that car this time next year you're going to be shopping for a dead gum car and you know that's just you should have just kept that one now i'd hold on to it it's not that big a deal you're in good shape you got a nice car it's within your range you're fine keep it this is the ramsey show [Music] so [Music] [Applause] [Music] dr john dolone ramsey personality is my co-host today todd is in fort wayne indiana it says on my screen todd you're debt-free congratulations thank you very much dave how much you pay off brother 245 000 and 10 and a half years wow no longer journey love it and your range of income during that ten and a half years started at 45 000 i am now a hundred and ten thousand now excellent what do you do for a living pharmaceutical sales now cool very cool so i'm guessing with this length of time this huge amount of money maybe you paid off your house uh not the house but quite a bit uh we started our journey my wife and i at the time uh when we were pregnant with our twins which would have been number three and four and uh we started even knowing that she had to stay home and she chose to do that and um so we had to get our money under control real quick i had already been listening to you and so being the nerd that i am i have a excel spreadsheet you know from 2008 when i started listening to you to the time we started in 2010 and uh it's just been an awesome awesome opportunity wow you all see this wow so you you hustle i mean you just grind and grind and grind ten and a half years later wow was it mostly student loans yeah student loans was the enormous part of it yes yes getting my masters and paying off my wife's debt as well for student loans so it was quite a bit in there your master's in a business okay she get an mba i do have the mba yes okay cool very cool what's her degree in uh teaching okay teaching so we've done a good job and unfortunately last year we separated but uh i know she's debt-free leaving that marriage and so we're both debt-free to my knowledge and i'm excited you know that she's able to move on and go in that direction and then for myself but just look forward to spending time with more of my my four kids and i sent some pictures in we were able after getting that free to go on vacation and hit up several national parks over the summer before all the fire season started so it was awesome looks like an epic trip yeah tough time in their lives too huh right right so but i've been able to teach the class actually twice at church uh three times at the community center and helped a lot of people along the way and a lot of people were way ahead of me but i knew i'd see the end of the light and now i'm here so what kept you going for a decade brother that's a long time to be committed to something yes long time coming what kept you what kept you going i i'm big into numbers and that's why like i said i have an excel excel spreadsheet going back all the way to 2008 before we started the program and after i started listening to you and it's just you know i just keep going and it gives me motivation to see it i do it every month look at the number bottom line number every month and know that i'm making progress and that's how i measure my progress wow well congratulations i'm very very proud of you yeah what do you tell people the secret to getting out of debt is you've taught the class you paid off 245 000 you're an expert what's the secret stay focused it's hard sometimes there's a lot of temptation to get out of it and not follow it but you stick with it you will you will make it set your goals and be focused while i've got you backing out a hundred thousand dollars would you recommend to your former self that mba is worth it we should pay a full price for that executive mba program has it helped you or would you go back and do it again differently um it helped me with my with my business and you know all the jobs i've had but in terms of how much money it'd be questionable at this point that's a that's a very common answer well brother i'm proud of you man so what do you tell um what are you passing along to your kids here in this in this new season well they know that there's a limited amount of money that they're going to receive and they know the bottom line when dad says no it's no and but they also know how to make money they my oldest is trying to start her own business and uh she's not even out in out of high school yet and my twins sell produce out of the front of our farm and uh so every fall so it's really kind of cool so they've gotten the bug very cool and they know that dad's committed to it to help them very neat well congratulations brother thank you for teaching the class and uh you did it man ten and a half years wow pretty amazing we've got a copy of the legacy journey for you that's the next chapter in your story and a copy of the total money makeover for you to give away to somebody i'm sure you know how to do that after teaching the class and get somebody else started on this journey and uh man you gotta you got a wide open thing in front of you now to the next chapter turn the page turn the page turn the page all right todd in fort wayne indiana i'm sorry thank you so much for all your help i appreciate it thank you sir todd in fort wayne indiana 245 000 paid off in 10 and a half years making 45 to 110. count it down let's hear a debt-free scream three two one i'm debt-free [Music] [Applause] wow [Music] angie is with us in phoenix hey angie what's up hi i am getting ready to retire my husband and i well i'm 58 my husband will be 59 and i'm getting ready to sign the retirement papers and want to know if that's going to be a good thing for us sounds like you're doing it we want to do it yes okay um but we have a pension that we're going to get and it's it's on the rule of 80. we paid 5 into it so it makes sense to take the pension we'll be getting 120 000 a year um we have about 400 equity in our house although we owe 200 200 000 dollars on it you have a nest egg yes we have um for between the 457 and 401a between the both of us is 750 000 and we have our three month emergency fund of 25 000. so you're millionaires congratulations we thank you and your question your question is is it okay to retire is it okay to retire what we're thinking about doing is um because we haven't we don't have the house paid off and our money as you know is in the 401k 457. we're gonna have to pay taxes on that stuff but i want to make sure we have enough money for funds so we're going to be um can you live what do you what do you make now what's your household income before you retire um we we each make about a hundred thousand so two hundred thousand so it's gonna drop to one it's gonna drop to 120 can you make it bad hold on tight are you holding on to something with both hands are you going to be all right yeah i think so and so if you use some of this money in your nest egg that you're not going to use anyway to live on because you're living on the pension and you use some of it to pay pay a little taxes and pay off your house that'd be a good thing that'd be an excellent thing which would also give you more wiggle room in the 120 by the way because you don't have a house payment anymore great that's what we're hoping for do it do it pay off the house thank you i've listened to you forever i appreciate it we just got out of debt um this last cove um the march 2019 around that time period period so we're really excited well you've done a great job handling your money over a long period of time it sounds like and uh here you are at 58 years old you're millionaires everyday millionaires way to go this is how you do it now uh the warning is you're awfully young to do nothing go deuce you find a mission or a purpose or something yes okay definitely don't just do nothing sitting on the couch watching oprah reruns bad plan because nothing is not good for the soul and paying for his funeral is going to be expensive right because you're going to kill him you're going to bury him in the yard you've got to have something to go towards and then you'll be a ward of the state that's exactly right oh no no no no no no yeah let's let's not go so dark so quick john my gosh this is what happens that's just what happens i kill him and bury him in the yard why don't we just get some something to do with our hands here let's let's something to lay our hands no shovels yes you're right this is the ramsay show [Music] [Music] our scripture of the day john 14 6 jesus answered i am the way the truth and the life no one comes to the father except through me charles swindoll said life is ten percent what happens to you and ninety percent how you respond to it dr john dolone ramsey personality is my co-host today julia is in new york hi julia how are you hi mr ramsay hi john i'm good a little nervous and excited how are you guys great how can we help uh yes so it's just some quick background information and then my question um my husband and i were a young couple we just had a baby uh nine months ago thank you thank you so much um we're looking to get out of new york we're just north out of new york city um just craziness going on here very restrictive we want to move down south to florida we just want to know if it's a good idea to sell our house now since the market is so hot we are pretty house poor 60 of our income goes to the house and if we should sell and then rent down there and if we do that should we throw our money at the proceeds at the debt and or and save some to live off of since we do have a baby and it's a big move going down there you know across you know down the coast um just kind of looking for some guidance on if this is a good move or not for us well if it's a good move is up to you guys that that part i can't decide for you it sounds like you've already made the decision to me but um and and so and there's nothing wrong with the move that you're describing or your reasons as far as i'm concerned um the uh as far as what to do with the money part um how much debt do you have not counting you're not counting your house okay not counting the house we have about 75 000 in consumer debt right and what will the how much equity will come free when you sell the house how much money will you have in your hand from the house sale um i would say at least between 100 and 150 depending okay so yes i would write a check that day and be debt-free i would move to florida and um you got 75 000 to put down on something if you want to buy something have you got jobs lined up uh not yet i mean i i'm not going back to work this year i'm a teacher of the deaf i'm going to stay home with the baby and my husband works for the railroad so he's going to keep working we're just going to you know make ends meet on his income and can he move his railroad job to florida uh well he he's he thinks it's very promising that he'll find something down there for sure he's been looking for and there's a lot of openings it's just a matter of okay that's fine that's step one yeah we don't go to florida and hope right julia i hear you on that i hear on your voice that you are in a panic you've backed yourself into a corner we got to do it right now the market's hot if we don't do it and you got to breathe because what you're going to do is you're going to jump off the dock and there's going to be no boat down there and you're going to have a little nine month old baby and you and your husband trying to tread water yeah you're good slow down okay slow down a little bit you're all right there's nothing i think everything going on with that with new york it's just kind of i got you i i don't blame you for wanting to uh you know it's a bad science fiction movie escape from new york right i mean so a lot of people are doing it a lot of people escaping from california there's a lot of that happening a lot of migration in america right now um and it's not due to covet it's due to freedom and so lots of people lots of people making the decision you're making right now and so that's okay but slow down two beats john's exactly right so beat one is husband goes and gets a job the faster he does that you can go to beat two and that's put the house on the market and sell it then you can decide are we going to rent or are we going to buy in florida because we're going to write a 75 000 check and be 100 debt free see if you move to florida and you have 75 000 in the bank and your husband has a job and you run a little while no big deal if you move to florida and you have 75 000 in the bank and he does not have a job you're going to burn through that money and you're going to be fretting and anxiety ridden and looking at this nine month old going how we're gonna feed it and you're gonna be all this other stuff going on then he's gonna end up taking a crappy job and then you're gonna wish you hadn't moved yeah yeah you're right and then whatever politicians gonna get voted out with the flavor of the month and new york's gonna come back to sanity and you're gonna go what do we do that's what i want you to to exhale just exhale get this in the right he needs a job faster he gets a job the faster you put the house on the market the faster you put the house on the market the faster you move and as soon as you move you're debt-free and when you do that then we can breathe and it's okay to rent for six months and take the 75 000 and look and learn the area get comfortable get settled in because a new area is tough to buy intelligently in uh after six months of renting you'll make a much better purchase on a home it doesn't mean moving twice and uh but you got a lot of comfort there if you're sitting on 75 000 of just and you owe nobody anything and you don't have a single debt and you get inexpensive rent and he has a good solid job equal to what he's got now you'll make a very calm wise purchase of your home in florida um or maybe it's not florida it's alabama or it's texas or it's where it's wherever just breathe yeah yeah yeah so yeah and some of this goes with um you're holding a nine month old in your arms and that's what i say that number i got you know i got i got to take care of this i got to take care of this walls closing in on you and they're not just just breathe get some get some friends and i know that's hard to do where you're at right now get some people you can laugh with talk with turn the news off and uh breathe jim's in hollywood florida hey jim what's up hey dave john nice to have you take my car appreciate it thank you how can we help you my question is uh i'm sitting on a home right now it's currently a hot market down here in south florida it's worth about seven hundred thousand dollars i'm totally deaf great plus i own four condos that are totally uh you know i own them straight out and getting rent from that you're on the house so the house is free and clear too correct okay and so between the condos and social security that my wife and i are living off of we clear about 80 000 a year on that my my question is i've been wanting to move uh the last couple of years up the line about four hours from south florida and uh the thing is i thought my wife feels like she has a mandate from the from the lord to take care of her asian mother which is 89 years old she still lives in the same home that she's owned for 30 40 years now and all the siblings are taking care of mom feeding her and whatnot but my wife is a little apprehensive about picking the move and my thoughts were if we were to move four hours away we can come down at least once a week and take care of her like you know stay on for two weeks go back up and et cetera and uh just want to get your thoughts on that i think i think is a bigger conversation than we can do in two minutes but i think what care looks like and how you're splitting that up amongst uh how she's playing amongst her brothers and sisters what you guys decide you're gonna do and making sure you're both on the same page is gonna be is gonna be important here but yes you can live in a different state with aging parents yeah and you can make some trips back absolutely um and uh making sure that mom's taken care of can be a mandate from the lord how it's done i don't think is a mandate from the lord right so is it done by you making some trips down and you know working a system a schedule with the brothers and sisters that's okay um the other thing is jim it might not be that long yeah it might be this is just a gift you give to your wife to just chill for a year or maybe you sell your house and move into one of your own condos for a year and there's a hundred things that could happen right yeah but i don't know there's nothing again i'm not going to panic to take advantage of this real estate market 750 000 property and hollywood florida is not that super expensive that's mid-market and so um slightly above mid-market and so you know that's a movable property in virtually any economy and so um you're not going to lose money on this or miss a narrow window of opportunity to maximize your wealth building over this it's you've done well you're millionaires you got plenty of money you're you're living fine um it might be just a time that you're just kind to your wife and just this she says takes care of her mom if you sit for a year and you'll get mom settled you'll get everything settled and you sell this house for 650 000 instead of seven don't hold that over your wife let that go man that's just part of love it's not gonna go down you don't have to worry about that i'm just like man don't hold anybody take care of your family yeah it's just it's it's it's worth it to do right by her yeah that's why you did all this and you can do right a couple hours down the road too either one's okay but um it's okay to just chill a little bit john deloney good show this is the ramsay show 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 story [Music] you

Channel: The Ramsey Show - Full Episodes

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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: JHFMG_3LV-k

Length: 121min 20sec (7280 seconds)

Published: Wed Aug 11 2021