Stop Spending Like You're In Congress and Start Being Intentional With Your Money!

[Music] 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 debt is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice i'm dave ramsey your host ken coleman ramsey personality number one best-selling author host of the ken coleman show is my co-host today on the ken coleman show he talks about getting the job you love getting the work you love getting involved in work that matters changing careers all the things having to do with the income side of the equation so we'll talk about that and we'll talk about your money and your life the phone number is a free call and some say the advice is worth exactly what you pay for it triple eight eight two five five two two five that's triple eight eight two five five two two five exciting day here at ramsey exciting week here at ramsey we've got a lot of launch things this week and we're kicking off today is launch day for the pre-sale on ken's brand new book that will come out in november start selling today from paycheck to purpose the clear path to doing work you love good looking cover there ken yeah the team is amazing uh just an incredible team here they're artists to make me look like that dave there's a reason i'm on radio digital adaptations yes yeah but the uh we have a good creative team we really do yes they helped me with mine too yeah anyway aside from that this the interior of the book is what's important it is the most because that's what changes your life the clear path you have the seven stages stages that people go through and you cover all of them in detail exactly what to do and really you have to you can't start at number five you got to start at number one that's right and you may already have it done but you got to check it off that's where you can move on that's right prerequisite stages they really are and it helps you climb the mountain if we look at doing what you were born to do the dream job and legacy think of it as a mountain and it takes time some people get up faster than others so the seven stages are very simple number one you gotta get clear what is this thing this role that i was created to fill in the workplace that's the first thing secondly we got to get qualified well what does it take to get qualified this is where a lot of people dave get hung up and we walk through the qualifying questions in the book that help you create a plan to actually get qualified well while i'm getting qualified i can get connected connections people places that's where i meet people that bring me opportunities that was your number one best-selling book the proximity to the deep dive and to get connected stage four is get started see the connections bring me opportunities to where i can now step in and i'm on the ladder now it's about stepping up that's stage five get promoted you'll spend most of your professional journey in stage five and that you are climbing you're moving up and eventually you get promoted into stage six get the dream job this is where you're using what you do best talent to do work you love passion to accomplish results that matter deeply to your mission when that alignment happens it is the dream job and this could be a teacher i mean this could be a plumber this could be a professor i mean it is about that contribution and then what do we do in that final stage why is there a seventh stage give yourself away because now dave we're not working for income the income is there think of our teachers that we found in the largest study of net worth millionaires the world has ever seen that the third largest group of network millionaires were teachers they're at that point where they've adjusted their lifestyle they've saved and they're net worth millionaires but they're not teaching dave for income now it's about impact and let's be honest i i don't want to embarrass dave i don't think he's embarrassable on this but this is a man who doesn't need to work he doesn't need to work he's worth a whole lot of money dave is here for income excuse me impact there i said it i slept no but you're here for impact dave i want the income too i'll tell you well you've got some really nice toys as well but but you work now because of impact it's about legacy and so that's a quick snapshot of the seven stages we do a deep dive in the book there's two chapters on each stage and the purpose is to give you tactical steps to be able to do this i tell you what to do and how to do it and the why to do it and you can get there the book is from paycheck to purpose the clear path to doing what you love by ken coleman it uh launches today on pre-sale you will actually have it shipped to your home if you buy it today uh in november november the 9th is the street date and that's when the official book tour and everything will begin why would you buy a book in august that you don't get until november because we're going to bribe you that's fine we're going to pay you to do it that's right we're going to give you so much goodies in the pre-sale that it makes you want to buy it ahead of time we are shameless in that in our generosity to you guys so here's the deal you get about a hundred dollars worth of stuff included in the book and you can choose between the get hired bonus pack or they get promoted bonus pack if you're already hired and you're in the job you're like you just want to get promoted then you're further up the steps you need a different set of things and again there's a hundred dollars worth of items in there including the ebook including the audio book as read by the author including lots of other goodies that will help you on the journey along the way uh we've got live event streams coming up we've got um a lot live streaming coming up with ken we've got some ted talks type uh stuff that he's doing type things you're not doing ted talk but that short version of get get right in your face and show you what to do uh all of that is there and we're having a lot of fun celebrating the pre-order launch with a 500 cash giveaway every week this month on the website and a grand prize of three thousand dollars at the end of august wow so all of this happens at ramseysolutions.com so enter for your chances to uh win the ramsey cash giveaway go ahead and get your book on order now and some of the items will come to you immediately and the ones that are associated with the actual book launch itself on uh like the e-book or the audiobook you'll get all of that in november and it's a hundred dollars worth of stuff that you get when you pre-order and of course that helps ken with the best seller list and so forth the pre-orders do and it helps you because you get um you know a lot of stuff for only 20 bucks from paycheck to purpose the clear path to doing work you love something happens when monday morning is no longer a dread yep yeah something happens and it changes your body chemistry it changes your attitude towards your spouse and kids it changes your attitude towards generosity when you can come in and do work that you love on monday morning you're more creative you're more productive when you know that the work that you're doing matters yes sir you're more creative you're more productive you smile more you're literally your body chemistry changes dr john deloney could tell us all about that oh there's no question that's why i call it the juice on the ken coleman show you're walking around with some pep in your step versus eeyore and the reality is because we as human beings we long to make a difference there's two primary emotions dave around work and it's in the title of the book number one provision we've got to provide but then we also want to make a contribution we want to make a difference and when you do that on monday mornings watch how you move up the ladder because people want to promote you because they say this is what you were born to do so it's possible you can get there income and impact this is the way to do it yeah we do onboarding every two weeks at ramsey and this morning 15 new team members started i was excited yes to come to work this morning and introduce and meet them all at eight o'clock this morning before staff meeting started at 8 30 i always do that as a tradition let the ceo come in and uh i'm excited that today is the book launch day yes and tomorrow we've got other things coming there's all kinds of goodies happening this week i want to come to work yeah we're making a difference and it's fun which means you guys got us in a good mood when you call today triple eight eight two five five two two [Music] [Applause] five [Music] [Applause] [Music] [Music] ken coleman ramsey personality is my co-host today the brand new book from paycheck to purpose the clear path to doing work you love by ken coleman is now available on pre-sale as of today at ramseysolutions.com ryan is with us in wasilla alaska hi ryan how are you i'm good how are you doing thank you for taking my call sure what's up so uh i'm in line for a promotion and i've been denied the promotion a few times i want to know how to move forward for the promotion what kind of information do you have from the previous times you've been denied or time they tell you why yeah so um most of it was so when i first got into the industry i came in at the very rock bottom and i was kind of like a jokester you know i had to make everybody smile and i didn't think that you know this would have been my career job then i got my eyes opened up when i had taken a business trip and i found out that this is kind of what i want to do and i think my past is coming back to haunt me a little bit and i want to know how to move forward past you know moving forward out of this hole so did they tell you that they think you don't take your work seriously was that specific feedback you got no it was more of i need to gain the respect of the others around okay great how long ago was this when you you were last um it's been about six months six months okay and are you technically qualified to to get this position besides the personal brand kind of what people think about you and gaining some more respect are you qualified uh in every other facet to actually do this job absolutely okay great so we talk about this in the book dave there's there's five qualities that make a person promotable and here's the great news about this ryan whether you're a zero or a nine you can move up this is all about personal development it's really character and i think for you there's two that i would focus on of the five i would focus on the reliability and i would focus on coachability okay i think if you are going to your current leaders maybe even some peers that might be a little bit older than they may not be a direct report and i think you're asking questions sitting down with pencil and paper and saying hey what are some areas that i can get better in what are some ways that i can get better once they've identified that and then i would go over the top with being super reliable this is just simply you know what uh somebody asked me to do something not only do i do it i do it faster than they expected i do it better than expected and i might add a third one in here which is likability and then you're a very fun loving guy sounds like but you gotta you gotta make sure that you know you you kind of adjust okay i was a prankster here i'm gonna learn the right time to do that maybe i'm doing that at lunch and after hours but i'm going to serious i'm going to kind of tighten things up on this serious belt but i think if you do that and you show an overall hunger say hey i want to get better and i want to know how to get better and then you deliver the results you can't just ask the questions you can't just have the one-on-ones you have to actually change i think if you do that you're going to show yourself as a guy who's changed that personal brand the image the perception of yourself that's the best way to do it very very good um make sure that when you do other people's work for them that you don't take the credit um okay and let them to have the credit you go ahead and just serve serve everybody around you find who you can serve how you can help my friend john maxwell always says how can i add value i can add value to your life how can i add value to our friendship i can i add value to our marriage how can i add value to your workplace and if i can add value then guess what you're going to want you're going to want me around and uh that's just you think about the friends in your life the ones that when you're moving they disappear or the ones that they show up early with a pickup you know and um you know that's a measure of a friend right there because i'd rather i'd rather take a bullet than help you move i'm just saying you know it's like a root canal but i mean stuff like that inside the workplace find out what somebody's doing and reach over and pick up an end of it and help them carry it and then make sure they get the credit for all the wonderful work they did and uh with a slight smile not a jokester smile not a sarcastic smile but just a grin that just says i got you back man i'm here for you and uh you do that with everybody you work with it's your peers you won't have to point it out how good you are other people will do that for you it'll take a little time because a damaged reputation is what you've got and you're you're repairing a damaged reputation so give it a little time um but i think you're very promotable and the main thing that reason i think that is you've had your wake-up call and you've got this level of humility yes i like you just talking to you and uh i might not have liked the you that started there though because you know you were screwing off you were mailing it in you didn't take anything seriously if you're in a manufacturing setting you're dangerous you know in that setting and so you know whatever it is but but the guy that's asking this question is a cool guy yeah i think he's likable yeah he's realized okay i see what i did i see how i establish this reputation but he's not deterred by it he wants to get past it dave you said something that's huge certainly for a young man like this patience is absolutely the wonder drug here you've got to be patient takes time to turn a reputation around and you've got to be patient because some people won't arrive at the conclusion that you want them to as quick as you'd like but that's okay be patient do not quit it's going to pay off for him the bible says a good reputation is more valuable than silver and gold yeah and it is and it's hard to get one and easy to lose them yes open phones a triple eight eight two five five two two five cameron's with us in buford south carolina hi cameron how are you hey i'm great how are you guys doing today better than i deserve what's up hey my wife and i have a question about what to do after baby step three uh we're expecting our first baby in december thank you thank you and we're planning on moving next august so we've made the decision to kind of put everything on hold and go ahead and stack up as much cash as possible until the baby's born but then we also are considering just keeping everything on hold until the move and just trying to pile up as much as we possibly can and then after that if that if that's the right thing to do where do we end up moving that money my wife would like to move it into um our retirement accounts no because she's a disabled veteran no and she gets okay no it's not retirement money and you're screwing around stuff there you don't need to you're not gonna make any money on it between now and next august anyway we're talking about a thousand bucks here or something you're gonna make okay it's not it's not well this would be after august after we have the money collected where where then well so she's a disabled veteran and she has told me that she gets um zero percent down yeah um through the va yeah so you want to go you want to get a big mortgage and keep a big mortgage i can't help you with that i don't think i told you get out of mortgages well that's what that's what we had been kind of you know going between i was saying there's not enough benefit the benefit for being a disabled veteran and getting a va loan is that you don't have to pay all the funding fees and the other stuff but it's still a stinking mortgage sure sure it's still a debt it's still something that's between you and being wealthy so no that doesn't mean that you might use the va loan as a disabled veteran it might be cheaper maybe it's kind of borderline okay than a conventional loan but you still want the smallest possible mortgage on the shortest possible term okay we still want to get out of debt so we're going to use all this money towards the house and then one last question let me stop just a second okay because i want to make sure with the chuckle that you understood yes because that's the baby steps if you want to work your wife's plan you guys go work your wife's plan i'm not gonna be mad at you we'll be friends but if you tell me you're on baby step four this is the plan got it okay and i think that's why he's chuckling i think he knew what you were to say but the wife's telling him something different i think we have a relationship issue here i think we got to sit down and get on the same page i think he believes in the baby steps i think wife's telling him let's ask him he's still here yeah i am talking about him he's not on the line cameron what what is ken right um yeah i mean partially she's you know she she believes in a lot of what you guys talk about but she's she's kind of behind the on the curve of you know okay well then you guys need to decide that ken's exactly right yeah that's that's what i was thinking so yeah you know are we going to work her plan or are you going to work the baby steps it's up to you dave's got a track record i'm going to throw that out there yeah i don't know about her yeah i got a few million have done this this is the ramsay show [Music] [Music] [Applause] [Music] joplin missouri chris and sarah are calling says on my screen you guys are debt-free congratulations [Music] it'll help if i push the button there we go one more time see that's too much information you people should i should act like it's kelly's fault but i didn't i just said it was mine because it was so chris and sarah how are you great dave it's good to talk to you we're good you too finally it was a long time i've been waiting to talk to you so tell me how much debt you paid off paid off fifty thousand six hundred and twenty four dollars in 24 months yeah and uh range of income during that two years what was your range we started off with around 71 000 and we ended with around 110 000. wow nice jump in two years what do you guys do for a living my wife is a first grade uh school teacher and uh i'm a group leader with a 3m company here in here in the veda missouri so where'd you get the extra 40 000 in income in two years well um i had a big jump in pay and i had a couple of side hustles that i did and do i worked a retail sales job and when i jumped to work at 3m i was able to jump off that job and and stay there full time and and the pay has been great i've been working lots of overtime wonderful good for you guys what kind of debt was the 51 000 um credit cards and personal loans and uh just to tell you i've had a real bad trouble most of my life with being honest and and i've just kind of had the mentality that i kind of wanted to had the idea of keeping up with the joneses wanting to you know get ahead and we did do a attended fcu class one time about 13 years ago where we were invited and we just kind of thought well it's a good plan but we tried to follow it but then we just kind of went off on our own track and it was more or less my my issues and not any of my family i i kind of went off on my own tangent and did things uh without my wife and kids knowing and um but thank thank the lord for forgiveness and because of god's grace our family is intact loving the lord and because you have pointed us in directions and given us principles to go by you know we are living life well and thriving in our finances and in other areas and we appreciate you and we thank you for the principles you've given us but we give all of our praise and glory to our lord and maker jesus christ amen for his healing that he's given to us and we thank you so much for the principles that you've laid out to help us and guide us in our path and we're thankful to our ramsey financial coach tara russell from overland park she was one that we got hooked up with and she has just been such a blessing to us a great guide to help us setting up our budget and just tackling our debt snowball and just keeping up with us each each and every month with our budget so monthly meetings our kids live out of envelopes we live out of envelopes in fact it's kind of a going joke that even the cat lives out of an envelope so everybody has envelopes and only so much money to spend on the budget and when the money's gone that's it for the month so that works i love it so it sounds like um there was an amazing amount of transformation that happened all through your lives and the the money piece uh once the rest of that stuff started kicking in the rest of that transformation started kicking in the money piece might have been easy compared yes yes and i was able to sarah and i were able to teach an fpu class at our church and that you know was just added momentum for us to you know to be able to share our story with others and to you know be able to help other people have their lives changed and and it's just been such a great blessing what is the word you would use to describe uh where you've landed from where you were peace peace yes peace huge amount of peace we know where the money's going and uh there's there's no question about that anymore that's a change of lifestyle not just financially but it you know that bleeds through other areas of your life in every single area when when one area is really messed up yeah it sounds like trust and cleanliness go with it as well yes yes yeah we have actually a tree that we planted a member of our church we have a great loving church and a member of our church gave us an acorn and we planted it at christmas and each of our children um picked a bible verse that meant a lot to them and chris and i did too and we planted that acorn at christmas time with those bible verses in the dirt and that acorn tree is growing into we hope and pray a strong oak tree like our family is becoming and it's very symbolic for us yeah truly changing our family chris i was going to ask you and sarah did the brokenness that you just shared with our audience did that lead you to uh the fpu principles and trying to figure that out or did uh the fpu principles and and getting the money part did it help you move into the healing on the brokenness or was it a 50 50. i'm just curious about that you know i would tend to say and i'll let chris say his own i would tend to say both ways there was bleed over in both ways uh you know when you when you have issues going on you know they need to be fixed just not sure how to do it yeah and whenever we start fixing in one area well that's going to bleed over and start fixing other areas which did happen not just because it happens but because the lord allowed it to happen and helped us and your principles guided us along that way yeah that's powerful there that's so powerful i just want to say it's real quick you two the the belief in the money tactics uh sounds like it bled over into the belief in getting healthy in other areas and that's a powerful thing yeah and for me when it was when i had i was down and i had i had reached the bottom i mean i tried to do everything on my own and i had realized that um if you put your faith in complete faith and trust in christ and everything else will fall together the money part came with it but when you put your faith and trust in christ and it's just an amazing transformation and you know there was desire there to get things right but when you're not sure how to do it and you're scared you're scared because you don't know what to do and you don't know what to pay first and you just don't know what to do but your principles helped us and our financial coach tara russell she pointed us and she always refers back to you every single meeting we have with her she refers back to dave and she helped point us in the right direction uh following your principles you guys are incredible yeah well we got a copy of the legacy journey that's the next chapter in your story you have changed your legacy and that tree as you said very symbolic of this we don't have our mortgage to pay off but we are debt-free and actually we want to come to tennessee when we pay our mortgage off that'll work and we want to do the debt free stream in person we'll let you do number two version two when you do that absolutely we'll be honored to have you guys and a copy of total money makeover as well which you guys can give away and pay it forward and the kiddos are going to join you in the debt free screen yes they're coming we're all in separate rooms okay what are their what are their names so we have annabelle is our oldest and and that is our second oldest by the way those two girls are in college and i just want to let you know they live uh dave principles they're living on a budget and they live out of envelopes also there you go our son james is 14 and our daughter ella is eight all right 51 000 paid off in 24 months make it 71-110 count it down let's hear a debt-free scream three three two one love it this is the ramsay show [Music] [Music] ken coleman ramsey personality is my co-host today launching his brand new book on pre-sale today from paycheck to purpose the clear path to doing work you love goes on sale today the actual launch dates november the 9th all kinds of goodies when you pre-order the book all for 20 bucks about hundred dollars worth of stuff be sure and check it out ramseysolutions.com patrick's in dallas hi patrick welcome to the ramsey show hi dave thanks for taking my call sure what's up hi um just want to say a big fan of you been me and my wife have been following the baby steps for the past couple months and uh it's made a real big impact in our lives and it's going really great so um thank you for that cool my question today is more for ken um i've been listening to a lot of ken coleman show and you know working towards finding my dream job and i actually have a question for him so i currently work for a great company and have a great leader but it isn't exactly my dream job i've already put in my resignation to my current job and i'm starting work next week at another company that is much more aligned with my career goals my question today is it appropriate for me to ask my current boss for a reference letter before i leave my current position to be used possibly in a future job search sure i don't know why it wouldn't be based on what you told me it was a great company and you have a great you have a lot of admiration for your leader and assuming that you didn't burn the bridge and there wasn't a kind of a nasty ugly tension filled uh process and leaving sure i would absolutely feel like that's appropriate no i actually um i gave him a three weeks notice and he was real supportive and uh you know said of course you know i'm gonna miss you but you know wish you the best of luck and he he kind of agrees that he thinks it's a good it's a good move for me yeah it's a no-brainer say look uh you meant a lot to me i learned a lot i've already landed the new job i don't need it for that but just because i admire you i'd like to have a letter from you in the file yeah you should do that i think he'll feel honored and i think that's a good move absolutely appropriate all right thanks a lot i kind of figured that's what you would say but uh i appreciate it sure worst thing you can do see no yeah and you still got your job so it's no big deal but great on patrick that's the way you want to leave you want your leader to say that about you if you do it right and you have a healthy leader there's two pieces of that equation and both of those seem like great people there jake is on the line in portland oregon hey jake welcome to the ramsey show hey dave and kevin thank you for taking my call um i am doing better than i deserved good how can we help all right so first of all just thank you very much for uh for your program my wife and i paid off about 130 000 on student loan debt a while back and we're living debt-free wow cool yeah so my question is related to education so currently i'm working as a job i've been for about a year and a half i'm eight years out of college and i'm looking at getting an mba it's always been on my radar they have a wonderful education assistance program that i basically was in line for i got all the way through the process of getting classes registered i took the test i got all the fees paid and i got all the way to the top and i got basically put on hold for the assistance and so i need to make a decision whether i need to pursue the nba anyways or hold off until potentially next year and try again why do you want the nba is it just something you've always wanted to do or you need it that's the key word caps n e d do you need it to get where you want to go um well looking at my leadership in my company i don't think i don't think i need it not everyone has an advanced degree i'm an engineer i have an engineering degree i feel like the business side of things would complement that i'd have the technical i'd have the business acting and that's what the original goal was um i do have a business minor that kind of set me up for this uh that's why it's been in my radar but uh that's the tough part it's not why they turn on and off the uh tuition assistance yeah it was one of those things where it was going through the approval process it goes through all the layers of management and i was told by my my direct manager that it was looking good and we were going forward and i couldn't so they don't approve everybody for this why do they not approve them they didn't give me a good the answer i kind of gleaned from the conversation was that i wasn't there long enough i've been there a year and a half but i was on the right path is what they were saying but that's nothing to do with the the fine print said nothing about how long you'd be the company is thinking to be there a minimum of one year which i had at the time so how many people work in this company um a lot i would say it's a large it's a large company actually part of a conglomerate of companies so a hundred thousand or more uh yeah i can say that i mean that's a lot of companies that every yeah that's a lot okay good all right i just didn't know because we have a tuition assistance program and yeah we won't approve it for uh if you want to be a nurse because we don't need nurses and we want to pay for you that do that but if you're doing something if you're learning something that has applicable inside this building is 100 approved all the time it's very easy but we're a smaller company we're only a thousand folks yeah so there's about five thousand in my my sites my area and i'm guessing it's somewhat competitive is that true as well yeah it's not like one person listen i'd sit tight yeah going back to what we said you don't need it it would be nice uh certainly an mba is a good thing but we want to cash flow it and we would love to get the assistance and i think with the work you've done i'd sit tight i'd take them at heart uh what they said and i'd go do everything i could to show them that i've put in the time i've put in the effort i am now a candidate and i'd keep signing up with a good attitude i'd wait right now i would not move into it yourself yeah no reason to pay for it justin's in raleigh hey justin welcome to the ramsey show how you doing mr ramsay good better than i deserve how can we help all right sir so um i just kind of stumbled across your teachings i haven't really dived into it yet but i am in 90 000 worth of you know overall cumulative debt debt and uh i'm just kind of like at a loss of like should i should file bankruptcy what should i do especially when i have um like garnishments coming against me or starting to come against me so scary times sir yes sir so uh what do you make it what's your household income are you married uh no sir single okay what do you make i make about um 40 000 a year okay what are the garnishments on uh garnishment is on it's a old credit card debt it's like five thousand dollars total on that one did they tell you they were going to garnish it or they actually turned it into your employer they actually so i had a um garnishment hearing today okay so okay they're really doing it okay and um what other what other kind of debts are in the 90 000. all right so um i do have 70 000 student loans i have about 10 000 collectively with you know just credit card debt um eight thousand dollars just medical bills and other like unsecured debt and you're working in 40 hours well i'm working right now working about 50 60 so i'm taking all the overtime i can get really that leaves you at 40 000 income no i just started this new job i was a teacher before okay so with you working on this ot what are you going to be making uh i expect to make about between 50 55 when it's all said and done well here's the bad news is you're not bankrupt here's the good news is you're not bankrupt student loans are not bankruptable right so you wouldn't file bankruptcy on 20 000 bucks man you go to work and work on a plan and work your way through this you got to beat this garnishment off with a settlement offer of some kind have you got any money at all um i mean not on hand i could probably liquidate i do have like five hundred dollars in a like a stock portfolio from robin hood that i can liquidate and do let's start gathering some money together and try to offer the people that are garnishing you about 20 cents on the dollar if you can which on five thousand bucks that'd be a thousand dollars right and see if you can get a settlement going with them to settle this don't offer it as a payment it's a settlement in full uh here's what we're gonna do i've been where you are i'm i've been scared like you are i know how it feels and i'm not going to leave you hanging with a short radio answer i'm going to put you into ramsey plus to go through financial peace university i'm going to pay for it and kelly's going to hook you up with one of our financial coaches and help you walk your way through this so you don't file bankruptcy no charge we're gonna charge you a dime you're not bankrupt you're just scared and don't know your way out and we'll show you how this is the ramsey show [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 theramseyshow.com and register we would love for you to come to nashville and tell dave your [Music] story this is the ramsay show [Music] you can be intentional about your character you can have money and a career you are the hero in your story [Music] live from the headquarters of ramsey solutions broadcasting from the dollar car rental studios it's the ramsey show where debt is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice i'm dave ramsey your host you jump in we'll talk about your life and your money ken coleman ramsey personality is my co-host today and so we'll be taking your calls about career as well the ken coleman show on 75 radio stations siriusxm a podcast and everywhere else that you can get any kind of ramsey network uh information he's there he's all over the place answering your questions about your life and your career so jump in the phone number is triple eight eight two five five two two five it is launch day here at ramsey we are launching ken's brand new book and pre-sale uh it will be a number one best seller following his last number one bestseller it's called from paycheck to purpose the clear path to doing work you love from paycheck to purpose the clear path to doing work you love you can pre-order the book at ramseysolutions.com it's 20 and we will throw in 100 worth of goodies to bribe you to pre-order it so all kinds of good stuff there the audiobook the e-book and a lot of other different things depending on whether you're trying to get promoted or whether you're just getting started and you're trying to get clear something else we're launching today ken in addition to your book congratulations on that by the way thank you so exciting what a great day we're also launching the get clear assessment that our team has been working on with you uh our product team has spent a bazillion hours on this with you and it is absolutely incredible it's an assessment process that you take and it will help you to get clear on what you should be doing that will give you joy yeah this is the million dollar question that so many people struggle to answer what should i do with my life and so we give you a about a 25 minute experience asking questions like i do with folks on air and we're going to give you a report on what you do best talent and then what work you love to do passion and then the results that you most want to create with your work and we give you a nice detailed report it's simple but it's so clear and then the best part is we're gonna populate a purpose statement for you we take those results your top three talents top three passions and then that driver that missional result that you most want out of your work and we put it in a purpose statement and then it keeps going then we're going to give you some professional possibilities we show you now these aren't guarantees we say this is an area or two or three or four where this purpose statement aligns with work that would be something that you would be very good at really enjoy and it produces a result that connects to your values and so what happens is dave it really is this giant kind of crystal ball of clarity hey there are many paths to the dream job for me many different industries and see what people get locked up with they think well it's just one answer it's only one thing and it's a very terrifying prospect so it really is the methodology that's underneath the first stage of the seven stages get clear and we're gonna give you that assessment when it prints out or you can keep it on your computer it's gonna give you tremendous clarity to move forward and then we give you the steps of course in the book you know from paycheck to purpose and that's how i get up the mountain but i gotta first know the mountain i want to climb so it's a great product the team's done a great job dave with the digital experience and it's here's the thing about this this is going to tug at your heart and your brain yes not your outside variables that's right okay so once you get clear the next step is you get qualified so for instance like if you ever took one of those old career assessments back in the day uh you know like in high school or something um you know like i have a friend who's a a microbiologist now who makes a bazillion dollars in research and when he took one of those things it told him he ought to be a custodian oh yeah slight mess there yeah a little miss little miss on that so but they were analyzing his outside variables this current level of education and grade point that kind of stuff we don't do any of that no this is all about what makes you tick yes what you're naturally good at weaving those together yes sir to help you get clear on a direction that you need to go that'll cause you to be in a job being a career that well monday morning you're smiling it's exactly where you get excited even on the long days the hard days you go this was worth it when i drive home and you know you know psalm 139 david writes so beautifully he's he's writing and he's saying you knit me together in my mother's womb and you're right dave this assessment the the get clear career assessment from ramsey solutions turns you inward and you begin to see who you really are who you were created to be it's not a big mystery talent passion mission all of us come into this world hardwired and it really is the head and the heart coming into alignment it's really fun it's eye-opening it's enlightening they're ahas and then practical steps to actually do something about it we don't just say oh here are seven to 10 or 20 things you could do no we point you in that direction and then we teach you even in the assessment and we deep dive in the book from paycheck to purpose how to clarify and verify further and actually no this is an incredible tool that if you went to some kind of career coach or something you pay 300 to take oh yeah i mean it's it's detailed it's going to spit out a report that you're going to go oh my gosh they just read the mail and uh so the get clear assessment you can get it online at ramseysolutions.com of course um or here's a better idea go ahead and pre-purchase ken coleman's book for twenty dollars get the hundred dollars worth of stuff and for another 10 bucks we'll throw in the 30 assessment otherwise if you just go buy it it's 30 bucks or you can get all that stuff for 30 bucks yeah incredible so don't go just buy for 30 bucks go buy the whole bundle and get the assessment with it and the assessment will download immediately you can use this now you don't have to wait till november to do it and then you'll get the book and the other things associated with the book in november when the book actually comes out so that's the ultimate career bundle on the new book from paycheck to purpose now if you just want to go buy the assessment you can do that we'll take your 30 bucks but i'm just telling you how to get a better deal that's the whole thing and you know you talk about uh knit you in your mother's wing where abaki talks about that word knit is in the hebrew is very similar to the word crochet yes and my grandmother uh she used to crochet when i was a kid she crocheted blankets and everything and uh i got my man card back but at one point she taught me how to crochet so dave little dave was a crocheter for a short period of time to get in my granny's good graces because she would cook you anything and um so but you know bucky talks about can you imagine the maker of heaven and earth with a couple of crochet needles that's right going okay rna double in our rna dna double helix oh that's a good one you're fearfully and wonderfully made yeah he says every time he does that rna dna double helix ah knit you right there you are made to do something you talk about that all the time and finding out what that is the day you know why you're here is a powerful day yes it's not enough though dave just to know you got to do it here's what i tell people you are created to fill a unique role in your work you are needed you must do it somebody out there needs you to show up and give yourself away in your work and then the income and impact they come with that they're super excited about it the new book is from paycheck to purpose the clear path to doing work you love the new assessment is the get clear assessment all of it at ramseysolutions.com all bundled together all at bargains do not miss out on this this is life-changing material coleman's putting out here ken coleman ramsey personality is my [Music] co-host [Music] [Music] ken coleman ramsey personality is my co-host today as we talk about your careers your money your life right here on the ramsey show lee is with us in omaha nebraska hi lee how are you hi dave heiken i'm doing great cool how can we help yeah my wife and i just finished uh paying off on the jet snowball uh 325 000 and we're busting through step three and so here in the next month or so we'll be ready to invest and so my question is how much do i start investing um i know it's 15 percent but we only got a few months left here so i try to go for that whole gusto and the whole 12 months some or just break it down into the last quarter okay you're gonna be doing the rest of your life so we're gonna put it on a monthly basis so what is your annual income uh combined about 160 okay and so you're going to be putting in about uh 27 28 000 okay and so you're gonna be putting in about 2 400 2300 bucks a month some into something that's what it amounts to okay and um somewhere in that range i mean just divide it out right uh your income times 15 is your annualized amount then divide that into your monthly because you're going to start putting that much into your 401k your roth ira your roth 401k with or without a match and all of those things to get up to the 20 000 or yeah to the 20 something thousand dollar mark to get you to exactly 15 of that and um so yeah that that's that's the route to go uh instead of trying to do fits and starts and just do lump sums and then next year you got to figure it out and then the next year you got to figure it out and i just set it on a monthly thing it's automatic and you just keep doing it and keep doing it and keep doing it and before you know it you'll be a baby steps millionaire amanda's in omaha nebraska hi amanda how are you hi mr ramsey nice to meet you you too how can ken and i help um well i am i need help uh with juggling and prioritizing some things i called ken before um i so what i'm juggling is passion project career skills debts and my personal limitations those four things and i'm not doing very good at getting any particular thing done so okay well you need to give us a little bit more of a breakdown so let's talk about the debt first okay debt uh 50 000 i currently make 45 000 i'm an additional marketer okay what's the 50 000 in debt what is it comprised of uh it is student loan debt uh medical bills and stupid debt credit card okay how much of it is student loan debt um about 40 most of it is student loan debt okay all right so now uh the passion project you ran through things pretty quick give me the rest of the list passion project was one and what else uh four things passion project career skills debts and limitations and the passion project is um you know what i'm what i'm so driven to do is um it is author i um i write a lot i really want to make that a side career i've got lots of stories i want to start publishing them i want to keep writing i want to finish things too i'm not doing very good with that okay well we've got a lot going on here let me quickly address the passion project okay there's nothing keeping you from writing right now in fact the best way to become a writer is to write now that does not mean that you're published does not mean you have a big literary deal it means that you are writing and you can write in short form on instagram you can create a blog for next to nothing but uh there you know i know a lot of uh people who are world-class writers dave and i both are mutual friends and every time i've ever talked to them uh when they give advice to people who ask them questions it's just always be writing so you need to write right right right right that has nothing to do with the rest of the great stuff about that is you can do that while other people are asleep yeah and while you're working multiple jobs to get out of debt you need to get out of debt and here's what i think is going to happen i think if you if you walk out the baby steps and you see momentum there i think you're going to see momentum in the rest of these areas of your life and then i want to ask you about limitations you mentioned limitations what is that what are you referring to um in a major depressive episode since about 2018 so um i so even when i sometimes i'm doing great um other times um even though i plan to right or to work on you know like google certifications or something um i just struggle with getting out of bed so just occasionally sometimes that stuff will come up and my my plans will get kind of tossed about a bit i get that okay so um i'm not a licensed counselor but i believe in counseling and this depression is a real thing and you need to get help there and so i think the focus of of where you are and where you need to be is i think you need to get help with the depression that is debilitating stuff you need to see a professional on that uh i would also uh if you don't go to church i consider going to church and also get some spiritual input and surround yourself with some people who really believe in you this is beyond the counseling the second thing is i really want you we'll get you help but i want you to get serious about this debt i think if you can day job this right now and you get out of debt while getting the counseling and getting the victory with depression getting over that and being able to manage that not getting over it but managing that i think that that is your priority right now and the writing as you get as you begin to get healthy and even in the process don't wait write about the stuff that you're depressed about put your heart let it bleed on the paper and you can show that work or you don't have to but you can develop the skill of writing along the way but right now the debt and the depression i think dave are her priorities you already seeing somebody hon yeah yeah i'm seeing a counselor so making are you making progress sometimes yeah well it's never progress is not necessarily in a straight line it's just in a in a direction yeah yeah we've been setting up um are you better today than you were three years ago yes yes good two years ago yeah good that's progress yeah yeah no no hey listen i'm 60 i'm still making progress but some days i suck yeah so that's okay yeah i mean that should happen that's part of everybody's life right we you know this is a tide goes in times it goes out thing uh the the question is uh are are we moving in a direction so here's the thing um talk to your co your counselor about this because ken or neither one are i we've i've worked with a lot of manic depressives over the years a lot of bipolar uh because you generally have financial trouble it goes with the territory okay um and the more extreme the case the more extreme the financial trouble so you're you're uh coming out of this and you're starting to get some healing and you're starting to head the right direction so your finances are starting to pop up now and light up and you know you're beginning to attack that so i i think this is a really great example where two things that you can complete will provide you two helps for the depression now verify this with your coach your counselor because i'm not one but as my understanding is like you said completing things is a big deal yeah because the confidence that that gives you affects the chemical releases in your body and affects the depression so the sense of confidence from completing something like your smallest debt in your debt snowball okay or like writing a blog not a novel yeah yeah okay uh and so completing things the second thing that those two things give you that'll uh that assist in the process of uh working through the depression is activity and uh activity is um is the enemy of depression inactivity is its friend when you know when you lay in bed it gets worse not when you go for a run yeah you know and so that's human nature because again you're physically completing things you're even if you're sitting at the keyboard i'm going to force myself to complete this debt pay yeah one down or i'm going to force myself to complete this blog and uh it doesn't have to be it doesn't have big old bites it's just got to be something that keeps you moving and builds your confidence and i think your therapist will verify yeah that those are two positive things you can do in this situation again i'm not qualified other than 30 years of doing what i do and working with a lot of folks where you are and i got to tell you there's a lot of hope for folks that are pushing against that that black dog as winston churchill called it and um it's uh it's it can be defeated it can be it is a process and it is real but it can be defeated and i think you're on your way kiddo i'm proud of you well done this is the ramsey show [Music] [Music] [Applause] in the lobby of ramsey solutions on the debt free stage ben and justine are with us hey how are you guys not too bad welcome welcome where do you all live st liz missouri awesome and you're here to do a debt-free scream how much have you paid off uh 73 991 dollars all right and how long did it take you 24 months exactly wow and your range of income during that time 62 000 to 95 000. cool good what do you guys do for a living i'm an uh manager at aldi and i'm an occupational therapist awesome very cool what kind of debt was this 74 000 almost all of it was student loans we had a little bit that was a car and then a little bit of medical debt from the birth of our son ah how long you all been married seven years okay cool so what happened 24 months ago so about 24 months ago we were just living life normally but realized that we were so tired and then we weren't gaining any traction at all in our lives we had just moved into our new home we had at that point our son who was like six months old and we were working jobs in careers and just not getting anywhere so we realized that there were things that we wanted to do we wanted to be able to go out as a family we wanted to be able to buy a microwave for our new home and there was just no room in the budget or in our bank account to do so so about at that time my brother had moved into the st louis area and he had just graduated college and was getting ready to start his new job and he was having dinner with us and he said that he was getting ready to pay off his student loans using the baby steps and he asked us if we had ever heard of you and of course we said we had then he goes well have you guys thought about doing the baby steps and we said well no and he said well why not he said you guys could totally do it so at that point i ended up reading your book the total money makeover and then ben ended up watching a couple of i think your podcasts a couple of your interviews um and at that point it was game on we knew when we believed that we could go little brother how about that i like that yeah so once we had decided that that was our future and that was what we were going to do as soon as we were both on the same page there was no stopping us so ben ended up actually changing careers right at the beginning of it from a job that i would consider probably pretty toxic for us in many different realms um and into a new role i stepped into a full-time position took on another job and we also watched a ton of dogs over the course of two years i think it was over like 200 dogs over the course of two years in order to make this happen you used to like dogs but not anymore oh my god what was the rate on watching dogs i'm curious we watched dogs at about 25 a night okay so we ended up uh able we were able to propel our debts mobile even more wow everything is game on here yes yeah we really leaned into it and decided that that was what we wanted to make happen and then with he he and i just together as a team that was what we did ben what did you what was the career change from what to what um i went from manager at mcdonald's to just uh associate role at aldi and then i eventually got moved up into a management role wow okay good for you that's fun cool very cool it's worked out well yes worked out well everything changed yeah yeah what do you tell people the key to getting out of that is um i always give people three three things just being on the same page with your spouse that's number one setting a clear goal and then just being just being at a mindset that you're gonna get there you know that you're gonna get there so you guys i mean being on the same page with your spouse from the very time you started this you were on the same page yeah it wasn't like one of you got drug kicking and streaming no i would say it took us maybe between the two of us it took about a month for us each to end up being there but podcasts or youtube totally makeover book and these things weaving back and forth bouncing around your household and finally it all lands yes yeah and she definitely pushed me to do that so okay okay all right so but it wasn't like you you were ready because you want it out too though yeah yeah so and uh wow way to go little brother that's amazing that's a great story very cool so uh justine what do you tell people the key to getting out of debt is i think that ben um really wrapped it up well um but for us and for everyone else if you're doing this with someone else being on that same page because two minds are greater than one two paychecks are better than one being together and having that bullseye goal you're going to get there twice as fast so i tell people to stay focused as a team and to make sure that you and your spouse continue or you know whoever it is that you're going along this plan and journey with are together so i got to ask you i love these uh stories because the focus and the intensity you know man they're so incredible was there a point where you go okay we're heads down for a while right and then you look up one day and you go whoa we're really making some serious progress i'm just curious when was that for you and your journey um i would say about six months and six months yeah we were we were pretty like headstrong and then we were like hey we can do this a couple months ahead of our goal like let's do this like let's go head first into it and let's get let's get it done yeah and at that point at that point we like we're like extra jobs whatever we can do so yeah how many times i had written all of our debts down and every time we wrote one we wrote a goal to get there and every time we kept we're like wait if we do this we can hit this goal a couple months faster than we thought we could you know if we just watch a few more extra dog dogs or if we end up picking up a couple extra shifts you know we're really going to get 200 dogs into here that's what i was about to ask i'm sorry how many dogs was there a crazy story where you had like i just gotta know i into the two minutes the too many dog nights there was at one point there was one overnight where dogs were coming in and out of our home and it ended up being like seven dogs we also have three young children too i know there was one day we watched some dogs who actually had to be diapered and i walked into my home and i was like i have to diaper like four living things with heartbeats right now between children and dogs so and we only have a 900 square foot house so we're just like trying to please god tell me you charge extra for that we ended up i wish but tell me you documented the day where the babies were running around and the dogs all in diapers please tell me we have pictures of that we do lots of pictures of dogs you work like no one else later like no one else that's right you guys are powerful you're powerful very very well done i'm so proud of you thank you so your little brother was cheering you on outside of the two of you who else is cheering you on um just like on my side of the family a lot of my parents and my siblings definitely cheered us on two yeah and my side of the family also was a big support for us we had family coming into town we live about an hour to two hours three hours away from family but they were coming into town every weekend so that we could work our jobs and work our shifts and when they came into our home that meant they were also watching the dogs and helping us take care of them so we had an incredible family support a lot of our friends checked in with us asking us how we were doing you know what what guy what's new for you guys this week how many of you paid off like adventure like an adventure everybody went on with you absolutely yeah we had wonderful neighbors too who put up with all the barking dogs and knew what we were doing and why we were doing it as well so crazy we really had a great village and community behind us that's so fun all right so you brought the kiddos with you what are their names and agents caroline is five lucas is three and then we have our baby becca who is one year old oh fun well we've got a copy of the legacy journey for you because that's what you've done for sure changed your legacy and we've got a copy of the total money makeover as well where you can pay it forward to someone and they can um they can pay it forward to someone else and they can learn how to be how to be on that you could be like your little brother was to you yeah just get somebody that's a little brother over there right that is yeah he came with you to cheer up very good all right here we go ben and justine caroline lucas and becca from saint louis 74 000 paid off in 24 months making 62-95 rock stars look at these heroes count it down let's hear a debt-free scream [Applause] wow you get the feeling that crew right there is unstoppable yeah hey let me tell you you want to walk some dogs for some extra money you want a diaper diaper someone else's dogs for some action i got to tell you that's gazelle that's that's over the top i'm just saying this is the ramsey shop [Music] [Music] [Music] [Music] ken coleman ramsey personality brand new book on sale today from paycheck to purpose the clear path to doing work you love you can get it at ramseysolutions.com for 20 on pre-order we've got about 150 worth of stuff included you don't want to miss out on that the book actually comes out in november but we're going to bribe you to buy it today it goes on sale today from paycheck to purpose the clear path to doing work you love our question of the day comes from blinds.com they have a 100 satisfaction guarantee even if you mess up and you mismeasure you pick the wrong color they'll remake your window blinds for free free samples free shipping and with the new promos they run every month you'll save even more use the promo code ramsay to get the best possible deal today's question comes from ronil in california he says my wife and i are 39 and 40. we make over 230 000 we have 300 000 in mortgage debt and 500 000 in retirement we plan on selling our house in the next few months where we will clear between 700 or about 700 000 in equity we are not happy in our jobs and do not have passion for the work we've been doing we want to either ask for six months unpaid time off or in the worst case quit and use some of our savings a little bit less than a hundred thousand dollars to travel while trying to figure out what we want to do for the next 10 to 20 years of our career are we being unwise well you're being very impatient and i get it when you're restless you got to be careful because restless people are looking for diversions this sounds like a diversion here we're going to travel and use some of our savings that we've worked hard for and try to discover what we want to do while traveling i want you to be diligent because you can figure this out without traveling i'm not against traveling but to ask for six months unpaid time off i do think is unwise not sure you'd get that that's essentially fancy form of quitting and i don't want you to quit and use that savings when we don't have something to quit to we want you to walk to it we want you to walk across the bridge the seven stages that i unpack in the new book from paycheck to purpose does not require you to take a big leap and i i know what you're feeling i've been there uh but the reality is you can discover what that next stage is those next seasons before we quit i don't want you to just travel and go try to find yourself that's an excuse yeah it's a bad it's an excuse not to worry about some escapism that at the end of this you still are not going to have landed on anything and then you're going to be screwed yeah based on what i have done dave and what i write about we don't just travel the world and get quiet under a tree and make them falls on us yeah that doesn't work no here's the thing you're you need to sell your house sure and you need to change jobs yes but you do not need to do your plan your plan sucks no that's right you're gonna end up in a mess here dude yeah because they're in great financial shape if they pay that what you need to do is you need to spend some time go ahead and uh take your vacation time sure probably have some sure and use that time to be introspective uh maybe a little bit of travel during some of that spend some money you've got some money you're not in bad shape financially uh but you don't need to take six months to do this and spend some time going okay i'm gonna get real quiet on the back porch with a cup of coffee of a cabin in the woods that is 400 miles away 300 miles away it's not it doesn't have to be it doesn't have to be you don't have to go to europe for five months to find yourself by the way yourself is not in europe yourself is right where yourself is could spend 30 minutes dave going to ramseysolutions.com and taking the get clear career assessment then sit alone underneath the tree and go hey with all these possibilities that have been pointed out to me yeah that's that's which one of these things actually makes my heart come alive when i think about doing it and then one more step go spend time with somebody who's doing that thing that career path that you think you want to do get that extra level of clarity to say tell me about the good the bad what do you love the most what do you like the least we make this decision dave so mysterious and so out of touch and we've got to simplify it and that's what we're doing at ramsey solutions we're saying hey look inward it's not a way that yours no you don't need a ouija board yeah you need to sit down and get clear on where you're going then get qualified to do that let's follow your steps straight through that's it and you take that assessment it's 30 bucks yeah that's a good idea we'll sell them one of those if i had their name if we have their contact stuff we'll send them one but um send them a link to do it it's the get clear assessment it went on today with the book and it's available right this second at ramseysolutions.com it's incredible so if you take that thing and you figure out who you are then you start to say okay i'm going to transfer to this job in this state and so then i sell my house and i move to that job in that state yes i don't have to take six months off without pay i don't have to wander the world hoping that that somehow i'm gonna have an epiphany as i stand at the foot of the pyramids that's right that's just complete bs that's right and not necessary because if you do it the way that you just laid out dave the income is not interrupted right the best part is the income increases and you're not going to burn through all the equity in your house and burn through all your savings trying to find yourself while yourself was in front of you all the time that's really well that's really true it's just you go out looking for yourself and by the way who's with you while you're doing that yourself and so you don't need to go looking they're right there so you know sit down spend some time maybe even get with a coach maybe get with a counselor maybe get with your pastor uh maybe get with some of your friends who'll dope slap you into reality and say no you're not one of those you're one of these you're not a tiger you're a koala bear you're not a koala bear you're a tiger what kind of animal are you you know let's figure this out you got to have people like this sometimes in your life and so that's part of what that get clearer assessment will do yeah this is a gentle dope slap dave yeah but this is how you do it though because i mean i've had have you not had friends that saved you from yourself i love that you said that that's listen that's what you need sometimes it saved me from myself half the time it's what we do on this show is we love you so much we just reach over and go as a friend here hold this pop yeah so um but yeah it's that's the thing get clear get qualified get connected get started get promoted work through ken's clear steps on this that it's not just trying to sell ken's stuff dude the bottom line is you need a plan and wandering the earth is not your plan no um in the name of i'm burned out and i'm hate my life and uh that just sounds like you know i'm 17 years old and i'm gonna go backpacking in europe for six months and find myself you're not 17. you make 230 000 a year you have a half million dollars in your investments you're not a child anymore my son so um you're going to function through this and lay out a game plan like an adult have a strategic game plan and execute the plan flawlessly at the end the plan you're going to be making more money in a better situation you're going to have sold the house you're going to be in a state different than california where your new career is your whole new life everything about your new life is going to be amazing because you game planned it and then you went and got it yeah and when you travel you're traveling on purpose right we're not blowing money and blowing time we're actually planning it don't travel don't don't travel to hide no travel to enjoy yeah don't travel no all of you people do this they if you listen if your whole reason to go on vacation is you can hide from your life then you need to come home change your freaking life it's true there's something wrong with that this idea it's not it's like some kind of escapism yes and of course these people in the in the resort world they pander to that that we're gonna have this alternate reality that we get to go live in for a little while yes and then we have to come back to our horrible life that's this drudgery and um dude hey i enjoy travel i like my home too you have a pretty great life yeah so do i i mean you know this idea of vacation ought to be about resting and restoring yourself right yeah restoration recreating recreating yourself it's great to resign you know write that resignation letter but don't turn it in and go and vacate and restore and recreate yourself and come back tear it up and keep on going but this idea of coming back to this oh i just got to make it through to next year's vacation it's really crazy and i'll tell you something else you know what six months of unpaid work doing uh six pounds off from work you hate you ought to take the rest of your life off from work you hate right and i'll be unpaid yeah that's what we're about here yeah you need to change yeah direction yeah get the new thing get the new thing baby get the new thing get you a target if you aim at nothing you will hit it every night that's the truth you will hit it every time it's a hundred percent shot that you're gonna miss because you have no idea what you're aiming at and other people do ready aim aim aim oh yeah and pull the trigger that's exactly wrong oh my god sit around whine about it pull the trigger so that's not his problem he's ready to pull the trigger too fast doesn't have a game plan so yeah uh but but you know you got some people get paralysis of the analysis on the other thing right and they can't they can't move off their butt they get stuck on their butt so it's um it's a problem folks you got to think through these things and lay it out and then that that's the beauty of a clear path that's why the baby steps work that's why ken's seven stages work this clear path keeps you moving right along right along right along right along right along it's not a treadmill it's a trail blaze this is the ramsey show [Music] have a friend or family member that needs a daily dose of ramsey advice in their life let them know about the ramsey call of the day podcast it's a quick hit of advice about life and money in under 10 minutes check out the ramsey call of the day podcast wherever you listen to podcasts [Music] this is the ramsay show [Music] you can be intentional about your character you can have money and a career you are the hero in your story [Music] live from the headquarters of ramsey solutions broadcasting from the dollar car rental studios it's the ramsey show where debt is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice i'm dave ramsey your host ken coleman ramsey personality number one best-selling author is my co-host today today's book launch day as we launch the pre-sale on his brand new book from paycheck to purpose the clear path to doing work that you love it's twenty dollars if you pre-order it you get a hundred and fifty dollars hundred dollars plus worth of stuff going with it check it all out at ramseysolutions.com the phone number here triple eight eight two five five two two five cody's in providence rhode island hi cody welcome to the ramsey show thank you dave thanks for taking my call really appreciate it sure so i am a i'm a resident physician my wife and i have been on the ramsay plan for about a year year and a half been able to debt snowball about forty thousand dollars worth of our small debts but i still got about three hundred thousand in student loans and mike i know right my question is there's a lot of companies willing to hire residents where you sign a contract you know say three years early they do prepayment they do student loan forgiveness and you know it's all rolled into this thing but then you're kind of signing yourselves over to them under contract for say a certain number of years and i guess what i'm wondering is is it wise to get that money now and early from a future employer but locking yourself into one of these jobs or should i wait until i finish residency and just start fresh then probably get the same kind of deals then can't you yeah you can get similar ones um i guess there's some it just depends on the plan you get some of them they'll like match your residency salary so instead like right now i'm making 67 000 a year so they'll like match that so you kind of double that early so then you can get paid off and you know hopefully pay less interest overall would be so they'll throw 67 a year while you're in residency or one time at the student loans roughly i mean they advertise like 67 usually it turns out being about you know 40 or so i'm sorry they advertised 67 but they lied well well they don't lie they say we career match but then you know read the fine print the career matches up to an x number of dollars well then it's a matter of negotiation right it's a matter for you to negotiate your new job so how many years would you have to commit three uh yeah usually it's about three or four and your benefit to doing that would be this one time signing bonus of forty to seventy thousand dollars right um yeah is there another benefit for a year so i mean i guess not another benefit that i would get right now um but you know other benefits like student loan payments but i think you can negotiate it so whether well they will give you the student loan payment now so that helps you to not build interest over the next few years until you you know really yeah so 40 to 60 000 or 70 000 now and you sign and for that you're trading out you're promising to work for them for three years what but during the time you go to work for them then in addition they would pay down student loans is that what you're saying right usually they'll pay like a certain certain number per year and again it all depends on which program you end up in but sometimes it'll be like 30 000 a year to a maximum of a hundred thousand dollars worth of your student loans or something like that yeah so if you can get um you know like 70 now and another 150 over that three years towards this and get a competitive salary a competitive pay rate then yeah i would look at doing those deals but there's nothing to say you need to sign that you have to sign up i wouldn't sign up for 40 grand a day if that's all you're getting out of this and you give up three years of of flexibility because you might make more than 40 grand a year extra working for somebody else yeah i i completely agree the way you set up at first is like they may give a total loan forgiveness it's not that it's not it's not the whole enchilada so i think you have to weigh what you can make on your own in that three year period versus the 40. and i'm with dave i would say if you come out without one of these contracts what's going to be your pay rate do you think so and depending on where you're willing to work and it's usually between about 200 and 300 000 or if you you know work it somewhere that's more like critical access you can i've seen as high as a 400 to 450 000 so i'd go that route to knock out all my loans i'd do a short term in that critical do something and bust it coming right out of residency but either one of those is a fantastic option you can pay this off yeah i don't think you know when you start talking about 300 or 200 300 400 in one sentence you don't you don't sell that chance for 40. the difference in 300 or the difference in 200 and 400 you don't sell that chance for 40. so you've got it you've got to do it that's the whole thing and um you know no i'm probably not signing up given this i i'm with ken i think you explore all your options and you maximize the pay for a short period of time as soon as you come out and you go bananas and knock this out i mean good lord if you could go make 450 somewhere and work there two years you could put so much money in the bank and be debt-free it'd be unbelievable and then go do whatever you want to do after that that's optional absolutely well said i mean i'd do that if he can transition back to where he really wants to be it's a no-brainer go bust it for two years obviously in a specialty yes he's not doing general practice right yeah if you're coming out of school straight into 450 you're doing something there so i don't know i didn't ask what that was but you're obviously doing something pretty incredible cody so um yeah i would lay back in the weeds and get a better deal let's get let's get a better deal don't don't sell your soul for 40 grand here it's not worth it um now am i if we could reverse the trend and say uh you could have signed up at the beginning of this for zero student loans and they pay it all in return you promised to work for them for three years and you did that at the beginning of med school yeah uh and you never took out a student loan day one i'd make that trade absolutely that's what i thought it was leaning towards that's right i'd make that trade that's uh you know that that's in a sense going in the military yeah and they pay for it right i mean that's the same thing so absolutely i'm gonna trade three years of promise to work for someone uh for 100 or 200 uh in return for free yeah med school this is interesting you know i want to give cody some love dave but there's an interesting psychology thing happening here he's going he was considering this because he's like i just want to start paying this down so his heart's in the right place yeah you know but you don't want to take that trade off just to make some progress instead of finishing the residency the debt's still going to be there uh and don't trade 40 today for 200 a year from two years from now that's exactly right yeah that's the bottom line and that's what i thought i was hearing by the time we got to the bottom of that all right open phones a triple eight eight two five five two two five uh there's all kinds of ways to go to college debt-free the most well-known in the medical world is the md phd program where you are going after your phd while working towards your md a lot of work there involved uh very few of those seats available but if you can get one of those seats you're basically an employee of the university so all your education is free because you're working a fellowship while you're doing this and you can get in that program that's a way to get through you can go through undergrad all the time debt-free you just have to choose a proper college that you can pay for you have to work all the time and you don't work for minimum wage that's it's very doable check out anthony o'neil's book at ramsey solutions called debt free degree teach your teenagers how not to take out that [Music] [Music] um [Applause] [Applause] so [Applause] [Music] [Applause] ken coleman ramsey personality is my co-host today he is host of the ken coleman show and the author of the number one bestseller the proximity principle and a brand new book that we launched for sale today called from paycheck to purpose the clear path to doing work you love it's an absolutely incredible book we are excited about getting the pre-sale going today the books will ship november the 9th along with a hundred dollars worth of goodies which includes the audiobook the e-book access to some live streams access to all kinds of different reports and issues to help you with your career all kind a whole bundle of goodies you can check it all out at ramsey solutions dot com and find out what's there in other words the advantage to ordering a book today that comes out and will be shipped to you november the ninth is that you get a much better deal and you know working at your dream job it's uh this is an important thing because it changes the whole the whole feel of your life you don't feel like you're running on treadmill anymore no and you feel as though there's more to your job than just the paycheck and it's about impact everybody wants to make a contribution and when you make that unique contribution that you were created to make watch that purpose wash over you you're going to be a better spouse a better parent a better teammate and there's all kinds of data that backs this up you can go on and on and on and on and on about people that just feel as though i'm just working for the weekend and we know inherently that there's more than that nobody ever has to teach a person to ask the question why am i here the answer is to contribute and you can contribute through your work and you should well and when you do it changes the chemistry of your body it changes the quality of your relationships it changes your paycheck it changes how good you are at your job it changes everything so this is the proven clear path that will walk anyone in any industry with any level of experience through a step-by-step plan that help you find meaningful work and you can pre-order today you pick between the get hired bonus pack if you're trying to get a whole new career or the get promoted bonus pack and uh you'll get either one of those free over 100 value get promoted as if you're already kind of in the zone but you just want to move along faster so you're further up the pathway these these stages of getting uh to work that you love so check it all out at ramseysolutions.com it's all only twenty dollars with over a hundred dollars worth of free bonus items from paycheck to purpose the clear path to doing work that you love also while you're at ramsey solutions be sure and check out the 500 cash giveaway every week the month of august and a grand prize of three thousand dollars the end of august no purchase is necessary for that you can enter daily for extra chances to win the ramsey cash giveaway you have to be 18 or older to win text the word cash to 33 789 and you can enter the giveaway right this second text the word cash 233789 and again while you're over there you can go ahead and pick up for 20 bucks the new book pre-ordered today from paycheck to purpose in addition to that we launched today the get clear assessment and uh you can take that today uh we've got the know yourself money assessment for couples from rachel cruz so several different assessments that you can do for just a few dollars you can be begin to get a handle on where you are the get clear assessment is going to walk you through everything it's 30 bucks to go through it uh or you can get it for uh the master bundle the big bundle with ken's new book for 30 bucks and you get the book and all the goodies too which is the way to do that it really is if you're going to do that if you're going to take that assessment now go ahead and order the book and everything with it that's the best bargain out there and the assessment is incredible it really is it's very practical you're gonna get a detailed report on what you do best talent wise you're gonna get a detailed report on the work you love to do we call that passion and then you're gonna get a detailed report on the results that you get fired up about putting into the world that's what we call mission you're going to get a populated purpose statement you can hang it on your wall your mirror it's going to give you tremendous confidence through the clarity and then we even give you a very clear direction it's like a neon arrow pointing to the marketplace we call it professional possibilities you know there's a lot of people out there listening that probably have taken strength finders 2.0 a strengths test well that's one-third of the equation and you didn't get anything else beyond that it's a wonderful tool this tool gives you a great perspective and points you to work that you love that you'll never want to stop doing because you know you're making your contribution and i got to tell you dave i was really blown away by the cash giveaway 500 cash giveaway every week this month and then the grand prize of three thousand that money right there could go a long way towards paying off some debt which gets you closer to pursuing this or it might pay for stage two get qualified certification these days can cost you not very much you know as opposed to college so this cash can be used and put right to work in the seven stages and pay for that get qualified stage so really cool don't miss that opportunity good stuff good stuff the get clear assessment available now as well as the from paycheck to purpose uh the clear path to doing work that you love the book new book is on pre-sale immediately all at ramseysolutions.com and register for the free cash while you're there adam is with us in cincinnati hi adam how are you great dave ken thanks for taking my call sure what's up hey yeah i've got a baby step five question about saving for kids college i've got a three-year-old daughter and a nine-month-old son but i've been paralyzed in baby step five because i can't figure out a savings target to aim for now i know how to project a cost into the future based on inflation but there's two variables that i can't figure out how to factor into my savings target first i teach at a private liberal arts university which offers a 90 tuition remission benefit now i have no plans to leave in 15 years but i don't know if i can bank on that either and second my parents have had a 529 set up for my kids and there's about 35 000 in that to get us going i have no reason to think the money won't be there but i also don't know how to bank on that so in 15 years sarcastically i think i'll need somewhere between 30 000 and 300 thousand dollars per kid um but i don't really know how to set a savings target even the smartvestor pro that we consulted with was a little bit stumped so it's hoping you could help me out okay um i would i would i would make two assumptions uh and this will help narrow your variables down i would make the assumption that the 529 is going to be in your control and i would ask for it to be done for it to be turned over for you to be the custodian of it um because i have to be able to control it to put it in our planning mom and dad and i think they'll probably do that unless they unless they don't trust you to with the money um no i don't think that's it they're differently followers too so i'm no reason not to trust them but yeah that's a good plan then the second variable is i would not count on you being there you might be and if you are that's an added that's gravy on the biscuit but i would run my assumptions with control of the 529 and not count on the free tuition of the 90 tuition um and then from there i'll back up and say okay let's pretend i'm not working at this private liberal arts university or where are my kids going to go to school and you need to go ahead and have that as your target and so in our case we said state school in-state tuition and dorms and dorm food and you can run the numbers on that and you know you can find out what that costs today in ohio and uh you'll find it to be about 10 grand a year roughly maybe 10 to 12 most of them are somewhere right in that range for in-state tuition plus room and board and uh probably another 10 grand so today it's about 80 to go through somewhere in that range um give or take okay uh and you can go look at it you can do that do the actual research um and then you can add some inflation to that and you'll be right on track and so you know if you say i got a brand new baby we're gonna at least double it so we're probably looking at 200 and you got you now you got your target you know but or if you got a if you got one going in two years your 80's probably gonna be pretty close but somewhere in that 60 to 80 range i'll put a kid through right now plus or minus community college plus or minus in state tuition plus or minus staying at home and not having dorm and dorm food so you just got to look at you can start to make some assumptions to dial it in but you can't say i'm going to have no limits on where they go to school they can spend 300 000 a year you can't plan for that you don't have enough money god doesn't have that much money but he does but please don't do that it's not worth it no i wouldn't spend it oh my gosh this is the ramsay show [Music] [Music] [Music] [Applause] [Music] ken coleman ramsey personality is my co-host today in the lobby of ramsey solutions on the debt free stage matthew and brittany are with us hey guys how are you what's going on hi dave welcome welcome where do you all live portsmouth virginia all right cool and all the way to nashville to do a debt-free scream how much have you paid off 166 3325 wow how long did that take four years and five months wow good for you and your range of income during that time uh 97 to 130. good what do y'all do for a living i am a metrology technician i work in victim witness at a local state attorney's office wow neither one of you have uncomplicated things with your life oh my gosh wow what kind of debt's the 166 000 was it the majority of it was student loans on my end oh oh yeah oh yeah we had the the van the medical bills a little small credit card but the majority of it was student loans how long have you guys been married uh coming on 11 years okay so halfway through the marriage ding ding you wake up and you go something needs to change tell me the story what happened so it actually started in 2013. so it took us a few years to totally get on board with this process we were pregnant with our twins who are here today and my grandfather pope gifted us fpu so we took the class and we just didn't really believe we could do it at that point we we were kind of doing it ish as you say we were following a budget but we weren't completely on board we weren't ready to completely dive in and just dedicate everything to it and be that gazelle intense that you talk about and i'll never forget the twins were two and our youngest was probably like six months and we got a uh bill in the mail and we found out we had a student loan that we didn't know about oh and that was probably the scariest moment wow and that's when we knew we were we were ready that was right that was it that was rock bottom first oh crap moment yeah yep how much was the loan a little over i think it was right at 20. so an extra 20 000 just shows up in the mailbox one day yep oh man that will take your breath away yeah it did but it's what we needed to realize that we just had to to go all in and we were ready at that point we um it was interesting because we that night we just prayed about it like how can we do this we have to do this and within like a couple weeks i randomly got this job offer out of the blue um that was a significant more than what i was making at the time um and we just took that as a sign and we just ran with it cool so you get the old fpu kit out and blow the dust off or what um or you go back to our yeah we went back to a class okay good then we started coordinating it oh and that actually kind of kicks you into gear there and we um we didn't want to be the hypocrites you know yeah so uh we got gazelle we started grinding and grinding uh and did it for that long uh it was uh it was a long track sure yes yes sir so first of all i gotta tell you i'm from the seven five seven yeah i'm a hampton roads boy yeah so i wanted to shout out some local folks there uh so the 97 to 130 was that what happened there give me the details there what jumped it up uh so ot over time on my end um how many hours were you pulling oh i i can't even think it was a it was a it was a blur it was that many i was just anytime i could get it i got it yeah so is it worth it absolutely you are bone tired but it's worth it oh man absolutely so how much of that 166 was paid off in the last year of the four years uh about 53 okay so you paid off the most in that yeah yes sir so once you got the momentum it just plowed it rolled right downhill yes and i think that was like a huge motivator too and doing it like how you talk about it is it just it shows that it works and it shows that after you pay each debt off you can just keep paying more and more towards the next one you know every every year we would sit down and and get a goal for the full year and then we would separate it for for the month and having those small goals is what those little celebrations of of of moving somewhere you know you're on track yes sir we probably two years prior said we're going to do this in march of 2021. so that was our goal long before we we made it and that's when we paid it off i believe it was wow march 15th wow look at you impressed and coveted didn't stop it nope nope help it or heard it uh neutral it hurt a little bit he didn't get overtime at that point but yeah but at that point i think we were we were so close yeah so you're pushing it on through way to go you guys i'm so proud of you what do you tell people now that you're coordinators and you're actually paid off 166 000 in debt what do you tell people the key is to get out of debt never give up never give up especially those who know it's going to take a while yeah you know you just got to keep going and you know the the the marathon right the you got to get to that finish line one step at a time so that's what i would say we were definitely the the tortoise in the race but you know like you say slow and steady wins and that's that's what we did um i think another key for us is after each debt we paid off we would do something to kind of celebrate that debt like all right we paid this off we're going to go to a nice dinner and then just buckle down and put our heads down until we get to the next one it was just you know little little things like that along the way that made a huge difference i'll tell you there's three reasons right over there where it'll get you going yes sir get you back up um waking up you know really early for me and and just grinding all those hours those three little boys over there will get you going now you got the rest of your life that's right now that you're free how's it feel feels great amazing i can't believe it's here was it worth it absolutely will you go back in debt no sir not for anything not for anything ever ever no i have you on video now this is your testimony well done guys so proud of y'all all right bring the boys over let's introduce them what are their names and ages this is jude he's five and these are our twins finn and hudson they're seven ah also known as when the student loan payment came yeah yeah i love it the extra piling on of the student loan all right that's very cool well you guys look like you're worth it i think you're worth it i think you're worth your family tree changing you got your mom and dad are heroes they're absolutely incredible very very well done we got a copy of the legacy journey for you that's the next chapter in your story for sure an extra copy of the total money makeover giveaway and pay it forward thank you for leading the class you've been paying it forward already showing other people the way i'm so proud of y'all very very well done impressive impressive people all right matthew brittany finn hudson and jude from norfolk 166 000 paid off four years and five months of grind 97 to 130 was the income count it down let's hear a debt free scream yes three two one we're dead free well done boys yeah boys bring it bring it i love it that is fun guys tune in and you listen to that real careful you can hear those little boys screaming up through their parents microphone if you didn't know what the sound of a family tree changing sounds like you just heard it yeah that's the sound of a change a permanent change yeah i've opened up the mailbox and gotten out something that did that to me yeah it's a knife to the throat an extra 20 000 she she remembered it years ago when tears came years ago if you're watching that on youtube and you see brittany's tears and she only stopped crying to be able to gut scream we're debt-free she was remembering it but now she's on the other side of it that's beautiful that's freedom that's just unbelievable what a great family you guys are rock stars very cool this is the ramsay show [Music] [Music] [Music] [Music] [Music] [Music] our scripture of the day isaiah 45 2 i will go before you and we'll level the mountains i will break down gates of bronze and cut through bars of iron thomas edison said when you have exhausted all possibilities remember this you haven't that there's nothing else i can do yes there is i like that dave's with us in madison wisconsin hi dave welcome to the ramsay show hi dave um listen to your show for a long time and i i wish i was calling for a different reason but um my mother-in-law is a ward of the state she has ms she's in a nursing home she's been there for quite a few years she had to go have a medical procedure at a local hospital because she had sepsis for about the third or fourth time and we have been getting bills from that local hospital for months now and the nursing home has said well you know she's on medicare i'm sorry medicaid uh and obviously has no money and so um you know they're supposed to take care of it but yet once again we keep getting these bills and now uh you know i just got one today saying you know my mother-in-law is seriously delinquent and that they're gonna take further action and and uh you know send it to collections and so i guess i'm wondering what i mean what are they gonna collect she has no money and she's in a nursing home a ward of the state there's no she has nothing does she own anything no she can't you know they take her social security check every month and obviously that doesn't cover the cost of the it's a county nursing home yeah um so that that doesn't come near close enough to cover why are the bills coming to your house that's well so my my wife is the power of attorney oh she's an only only child okay and so she has to make all the decisions financially yeah and so when um when my my mother-in-law's husband died my my wife's step-father um you know they didn't have an address anymore and so it became our address and so my wife is very concerned that now stuff's coming to our address and that we're going to get some knock at the door from some collection bozo that's going to try to shake us down for money well you know you're you're you don't owe any money so he can shake all he wants he can shake rattle and roll right out to his car and leave there's nothing i mean besides that people don't do door-to-door collections hardly anymore except on really redneck stuff so they're not gonna fool with you on this um uh but what i would do is as the power of attorney i would contact them by mail uh certified mail return receipt requested and just say i'm acting as her power of attorney she is penniless she is a war to the state your only hope of collecting this bill is through medicare here's the nursing home that takes care of all that [Laughter] okay and sick them on the nursing home because that's who should have taken care of this by the way that's how you know some medicaid medicare somebody should have picked that up and they're supposed to be running that over there so they should have filed these claims if there's a claim you can file on your mother-in-law's behalf that's fine if your wife wants to do that if there's some medicaid medicare process she can help help the hospital collect their money from medicaid or medicare that'd be wonderful but you in no case end up owing something because you're the power of attorney there's no such thing okay because yeah it turns into i try to be supportive and i just get mad and then it doesn't go very well there's nothing to get mad about this is just the government inefficiencies of life medicare medicaid is the dmv of the medical world i mean you're just in line trying to get your license i mean it just takes you know it's just a pain in the butt nothing about it is efficient nothing about it runs properly um but we all need socialized medicine right because it just crap and so uh you know you're just dealing with a welfare state dude and so uh you know your wife can put some effort into it and probably should on her mom's behalf to try to make sure the claims get filed properly with medicaid medicare as your mom's rep as her mom's representative rather as the power of attorney but you're under no financial obligation and so what i do is jump on the phone with the nursing home jump on the phone with the hospital administrator and say hey look this is a medicaid medicare claim how can i help you get that done because obviously she's not going to pay it and we're not going to pay it she can't pay it and obviously we're not liable so um yeah but i mean as her power of attorney i'm more than willing to sign whatever forms you got to help you guys get paid okay because she's trying to contact the hospital and they just say well it's gone to collections so we can't talk to you anymore that's perfect dumb butts and then the idiot collections that person who's been on the job four and a half days is going to call you know tell him so i mean tell him to pound sand i would just give him the number to the nurse yeah just give him the name of the nursing home and just say you can talk to her she's got dementias you all get along well oh my god unfortunately unfortunately she does and she hasn't she would have no idea what he would be talking about i'm sorry that's tacky but but i mean that's the truth is that you're dealing with you know this is a horrible horrible system and it's obviously inefficient so yeah when they call just say you need to contact nursing home we can't help you uh if you guys want to send the medicare stuff over here we can sign up to power of attorney but i'm not having a bunch of discussions with you idiots and because dude you got somebody literally that's been on the job four and a half days gonna call you uh because collectors don't keep their jobs very long because they would rather clean out septic tanks than do the job of collecting and so the as soon as the septic tank job comes open they leave right the turnover turnover is just incredible they have a sheet in front of them i'm not operating i'm not kidding it's four and a half days that guy's been on the on the phones before he calls you so it's it's a mess so i'm sorry i'm sorry y'all going through this but the good news is dave um you you guys aren't going to owe the money and so you can you can exert as much energy as you want to out of a sense of loyalty or honor to her mom as the power of attorney but you're going to find you know i called up and tried to help you fill out the forms oh we can't help you we sent a collection that's my favorite there you go kiss my butt that's it that's the end of this discussion you know oh my god unbelievable all right frank's with us in philadelphia frank welcome to the ramsey show hey ken hey dave thanks for taking my call sure what's up so um i have a question about going into debt for the purpose of buying into a medical practice as a physician there's a little bit of a different situation with this particular buy-in it's not buying into a traditional independently owned practice um it's a practice that's getting acquired by a private equity group and i just want to get your thoughts on um that type of situation it's kind of a trend in medicine what's that so so how are you buying in if a private equity group's buying it well so the private equity group is acquiring the practice so the current owners of the practice which i'm not an owner right now are obviously you know they're getting their their buyout but then in order to keep people with skin in the game and to stay incentivized all the all the physicians have to buy into this new platform so the platform is basically a group of several practices across a large region that's owned by the private equity group and they keep the physicians sort of you know vested and incentivized by having you know having a small piece of the game enslaved um [Music] listen um my tolerance for debt is very low my tolerance for private equity is even lower um and across multiple platforms where you have absolutely no control you're going to buy in you're what's known as a minority shareholder at best which means you have absolutely no power and they're going to give to you what they want to give to you as a return meaning they could choose to run this thing in the dirt and make your share worth nothing not because they would do it on purpose but because they were idiots yeah i mean this this particular platform has been around for several years right now and they have been very it's been well run and it's been profitable um i mean it's up to you doc if you want to do it i wouldn't do it run i don't do private equity deals i don't get involved with those characters and i don't do minority share positions i don't care what the track record is on it and i sure as crud don't go in depth to do all that so i i personally wouldn't do it but you certainly got to make your decision thank you for the call ken coleman james childs kelly daniel good show today i'm dave ramsey your host 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 this is james childs a producer of the ramsay show you can listen to all our shows with the ramsay network app on your smartphone browse by topic or even sync clips to your friends download the ramsay network app in your favorite app store today [Music] you

Channel: The Ramsey Show - Full Episodes

Views: 25,957

Rating: 4.8587198 out of 5

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

Id: mgdXEJSYnQ0

Length: 119min 45sec (7185 seconds)

Published: Mon Aug 02 2021