Stop Worrying About What Everyone Else Is Doing And Focus On YOURSELF!

[Music] live from the headquarters of Ramsey Solutions broadcasting for the PODS moving and storage and Studios it's the Ramsay show where we help people build wealth do work that they love and create actual amazing relationships Rachel Cruz Ramsay personality number one best-selling author and my daughter is my co-host today as we answer your questions about AAA 825-5225 about your life and your money triple eight eight two five five two two five cabins in Indianapolis whoops that's wrong let me try it again Kevin's in Indianapolis to uh start off this hour hi Kevin how are you hey Dave I'm doing well how are you doing better than I deserve what's up well uh got a question my wife and I have been talking for about a week or two now we are trying to get some stuff underway to start saving up for a mortgage on our house uh back story is we're about one quarter smart three quarters down we were one quarter smart off by living off of 30 000 a year income for on her income so I could pay my way through Master's School three-quarter done we needed a reliable car so I fell into that trap and I bought a car years ago um where we're at now is we owe about 21 800 left on the car in one savings area we have about 19 000 in another state in the area have about five thousand we are torn between being highly aggressive with that 19 000 and being mildly aggressive because we do have a one-year-old and we're both kind of like you know do we go for the full 19 or do you go a little less wondering what your advice would be on that did you graduate yeah yeah graduated got a double year income right now I bring in them 125 gross 125. gross yes okay and she's still working and she makes 30. yeah so we have 150 000 household income yeah a twenty one thousand dollar car debt and twenty four thousand dollars in your accounts yes and what are the what are they each saved and what's the 19 000 in uh it's over in a in Capital One it's just over there sitting in a a high performance CD or high performance savings okay and then the other five is where it's just in our mutual Bank account okay gotcha gotcha the five the five is our kind of um hour three months we're just starting to look at your guys's stuff a little bit and when we're looking at our numbers the five is kind of our about five months um savings we have a thousand emergency but the five is there the five thousand is about a four or five months yeah yeah so what what happened Kevin was when I was your age I went broke and lost everything Rachel was a baby and we couldn't pay the light bill and so from that experience I started studying what is the fastest right way to build wealth because I had built wealth the wrong way and that's why I lost everything too much debt and in studying that and in studying people who had built wealth I pretty quickly discovered that the fast that the people who build wealth not the middle class and not the people who wander around in a fog with an opinion but the people who had actually become millionaires the vast majority of them realize that their most powerful wealth building tool was their income none of them get rich on a high-yield savings account how your savings account will not by Def cannot mathematically by definition make you rich because you're making three or four percent yeah inflation is nine okay right yeah so you're going backward all right period so the bottom line is this the ones that built wealth were the ones that got out of debt and avoided that that put us on the Journey of at Ramsey 30 years ago of showing people how to get out of debt so that they can build wealth more reliably so that they can change their family tree so that they can be outrageously generous okay so that's the premise on which we answer all of these questions we want to take you down that path and never in the history of man has someone keeping a twenty one thousand dollar car loan around like it's a pet been a method of Building Wealth think about it we were we were we were really aggressive with it to get to start so it was sixty thousand dollars total I paid 40 in two years and now we're looking at it as when we do when we say let's just say out loud that that purchase was stupid well yeah it was way out of your budget you said that was the 25 not smart I'm agreeing with you okay I've done dumbers I've done Dumber But but so you know all of that's going to lead us to a pretty simple answer yeah which Kevin is is to pay it off today and then you're gonna have three thousand dollars left as a buffer for your starter or your emergency fund and baby step three which is your three to six months of expenses but you make a hundred and fifty thousand dollars a year you should be able to put several thousand dollars a month in that account and so we're not going to be at 3 000 but for 30 seconds the end of the next month you should be at six or eight thousand the end of the next month you should be ten or twelve thousand dollars so we're not walking around with a one-year-old with absolutely no money as a way of life it's just a momentary thing here by Christmas you ought to have a big old pile of money man and that's that's where we're at where we're both when we talk about it we both see the like you're saying Dave with the get aggressive and then four months you have this and we're both looking at the one-year-old who does have some medical appointments coming up going should we be just slightly safer and span it out over a minute we're not gonna have a medical appointment unless the child has medical issues today you're not going to have a one-year-old medical appointment that is going to take more than three thousand dollars okay unless he has some kind of unless he's struggling with something but if he's going in for standard checkups you know it's a couple hundred bucks dude and you make 150 000 a year I think you can handle it go be aggressive with it highly aggressive the reason would be that that's the fastest right way for you to build wealth get that emergency fund in place a fully funded emergency fund of three to six months of expenses and then with no payments at all now we save for that house like crazy and you can do it man I mean you just you lean in on a budget yeah and I think Kevin too one of the the mindset shifts that is important for you guys just to say out loud with you and your wife is like okay where we are today we don't like it we don't like having we had a sixty thousand dollar car loan now we've done you know we've we've taken it down to 21 000 we have some money here we have some money there obviously something is stirring in you guys that you're not content with where you are financially you know there's something in you that's like man there could be a better way which is why you picked up your phone and called the show right I mean like there are people walking into the bear cage they're Named Dave bear named Dave uh but but so so my challenge to you Kevin would be like to be do something different try this way what we're saying and again it's not gonna put you back financially at all you guys have a great income you're gonna be okay and there's gonna be natural fear natural hesitation to do something that feels a little different but what you guys have been doing if you keep doing the same thing you're not going to be happy with your results so you have to do something different doing something different is uncomfortable but push in even if it's even if you're scared and comfortable because you're gonna be okay you're gonna be okay you're gonna be fine if you pay attention and play through good stuff this is the Ramsay show [Music] [Applause] foreign what makes our show unique is that we genuinely care about our listeners we're intentional about choosing the best advertisers to recommend blinds.com is no exception they offer high quality window treatments at unbelievable prices and they make it simple to shop blinds Shades and interior shutters with easy online ordering free shipping and a guaranteed Perfect Fit go to blinds.com and take advantage of this week's special savings [Music] thank you [Music] [Applause] Rachel Cruz Ramsey personality number one best-selling author multiple times over and my daughter is my co-host today open phones at triple eight eight two five five two two five Nick is in Milwaukee hi Nick welcome to the Ramsey Show sure you too how about how can we help the curveball to throw to you so we are currently in baby step two about 50 to about 55 000 and get them paid off um from 75 000 that's credit card bills um house Improvement and mostly medical bills um and there's like car payments involved uh we've been pretty aggressive in step two I work about 15 hour days my wife works full-time as well however we got throwing the curveball um in that we they just told us we have about 10 grand worth of dental work we have to do for all three of my teenagers because they have to do get all three enough to get braces the curve the major issue is I'm a dialysis patient so on top of this I get you know medical I'm on the transplant list and once like that happens that's going to be an additional four or five hundred a month that would throw in interest just for medical bills because of medical the medications so my my major question is how would we tackle this added debt for the kids braces without having to go into even more depth to get those done because we have about 2 000 in our emergency medical fund our emergency fund just so once I'm out of work for about three weeks once I get the transplant it it can cover that so with having this curveball throwing at us with the kids braces it's kind of put a little bit more anxiety into the mix more than there already is what's your household income um last year we brought in about a hundred thousand combined okay how old are your children uh my boys are turning 14 next week and my daughter turns 13 the week after okay all right okay uh hmm um I'm trying to think how to couch this exactly number one are braces legitimate absolutely okay um I think all of our kids or several of our kids for me you didn't okay Rachel or Denise and Daniel had braces so I remember I remember writing checks for this okay I couldn't remember which ones it was yeah yeah they've all got great teeth and it changed their lives but anyway the uh um uh uh uh so it's not an illegitimate uh request or whatever but it's not a curveball and it's not unexpected and it is not an emergency it didn't just suddenly happen last week when they went to the dentist you may have gotten new information that made you realize you're going to have to address the issue but the the way you're using your words as is as if we don't do it by the end of the month that we're somehow going to have destroyed our children's lives and that's simply uh uh a dentist making a sale there that's not a reality so if we did the braces six months from now I'm not a medical doctor and I'm certainly not an orthodontist but um but but I I can you know I I suspect Common Sense tells me that they'll probably still be okay all right that you don't have to do in the next 10 days but sometime in the next 10 months or 20 months we address them and maybe we address them in you know the the one that's the greatest concern first and then we don't all do all three at once and so the way you're presenting this is if it's um and it's nowhere near as important or urgent as your situation is your situation now you I can get excited about making that a big deal right you follow me yeah and so don't don't let the emotions of the teenager yourself your wife orthodontist trying to make a sale make this a financial catastrophe that has to be addressed by the end of March because that is simply not reality that's that's after I already said this is a real this is something we need to address and I'm okay with addressing it I'm not saying it's not true I'm not saying they don't need braces I I'm saying when we do it how we do it is going to be on our schedule not on the orthodontist schedule yeah that's why I think where my brain has been freaking out because where we've been so good going to the baby step two we've really been tackling it I mean I work like crazy hours so when are you going to be finished with baby step two uh uh hopefully we're projecting hopefully by January of next year that's kind of our goal so do the braces after that okay that's kind of what we were thinking but and you can handle it I mean 50 000 bucks between non-january you can cover 10 grand in braces after that you're that guy my point is it didn't set you back it's something you do after baby step two that's where my brain has been freaking out it's like oh my God we've added this is going into the mix now we have to get it done because again I worry about I worry about them I can hear your freak out that's what I was addressing yeah it's it's not it's not as urgent I don't think as your as your freak out is telling you yeah I mean you're yeah yeah if they have braces that 10 years old one of them that is you know got a real issue in six months is going to make a big difference that's a possibility I don't know I guess it is um I mean it might save you a year in braces if we go ahead and get it done in the fall rather than in the spring you know then what's work one of them into the budget but to stop everything and have to do all of them this month because you got fresh information two days ago nah okay that makes sense it's just uh like I said the brain freak out was was kicking in well and um the the Dental world has in it people that have common sense and that are kind and normal and want to help and want to serve and it also has people in it that are really good salespeople that um you know and so I don't mind even getting a second opinion about this and maybe get a second if it's a ten thousand dollar item I might want to get bids you know I don't why not it's you know it's braces it's not like it's it's a commodity I mean I don't know if I find three or four other people and find okay well this guy says you're going to be in them for two and a half years this guy's this gal says uh oh using this new technique we can we can be done in nine months you know I mean you wanna learn about stuff like that sure I don't know but I I and your and your emotion Nick like I get it it's understandable as a parent when you go into any level of you know appointment with your child it's like this is what's best for them we got it we need to do that and if they had a sense of urgency naturally as a parent if you're not calming down thinking about the logic and having someone else speak into it it's easy to get where you were and act like when you called uh as a parent but sometimes when those when that emotion it clouds judgment very very quickly so yeah hopefully that that helps to just take the earth I think it's the urgency part like they're okay they're okay and God forbid again if nothing like crazy medically is wrong people go without braces and then they end up getting them as adults later in life you know what I'm saying like I mean like that that happens too so they're they're going to be okay unless there's a more serious medical need they're fine if they wait another year yeah there's I don't know the the medical things I guess and and dentists are part are dental is part of that are um we none of us should lay people know what's really going to trust them like a mechanic being a mechanic the unknown of it adds a trauma to all of us yes well any area of your life yeah you don't I don't know I don't know I don't know I mean same with cars we went out to dinner with a couple and uh some friends and they were talking about they took their van in to get work and it came back like this crazy bill of all this stuff they did and they were like oh my gosh so then he like ended up kind of researching he's like they didn't need to do half of it but he but he even admitted he was like I didn't know so I was like okay I mean you know cars better than I do right so any part of life that you feel inadequate you trust the experts well you gotta you gotta dig in and so that's that's the point is don't let the emotion Drive the decision really get some data points and I love the second opinion idea because there's plenty of people that have different ways they do things different timelines and it's that'll give you more peace to more information you have there's a lot of um really cool stuff that my dentist was telling me about I mean they're tools they use that it's Evol it's not a it's an iterating evolving industry I thought you went to the dentist Dave that's good way to take care good for me yes that's right this is the Ramsay chef y'all there's a lot you can't control when it comes to health care but there is something you should check out that can help Christian Healthcare Ministries chm is not Insurance it is budget friendly biblically based Health cost sharing that means a community of members helping share the burden of each other's health care costs they help people just like you in all 50 states so see if chm could be right for your family learn more today at chministries.org budget [Music] [Music] thank you [Applause] Rachel Cruz Ramsey personality is my co-host today in the lobby of Ramsey Solutions on the debt free stage Anthony and Lauren are with us hey guys how are you I'm a very good well honored to be here thank you honored to have you where do you live uh we're from a small town called Fremont Ohio it's near near Toledo okay fun good to have you guys so welcome to Nashville how much debt have you paid off we paid off 221 thousand dollars all right wow how long did that take took about 19 months good for you and your range of income during that time so we started out around 105 and then jumped up to about 280. whoa okay what do you guys do for a living so I'm a podiatrist and I stay at home with the children now okay wow I guess so good for you guys so what kind of debt was the 221 oh Sallie Mae oh diet I think Lauren that this was Anthony's fault I could be wrong just a little bit okay so doc doc ran up doc bills okay but then you jacked your income how did you jack your income threefold in 19 months yeah so 105 was my first contract coming out of Fellowship training and then uh just as the practice got busier and you know the surgical volume picked up but so did the income yeah and you happen to time that right off the backside of a pandemic yeah yeah that's very good too when people are coming out going yeah this is electric elective surgery a lot of the times right yeah all right and so yeah wow good for you guys yeah amazing so how long have you been married so it'll be seven years seven years okay so you married him while he's going through med school then yes and you guys were broke living on student loans and you come out and it sounds like almost immediately after coming out you jumped on this well so we have a little bit of a longer story than that I guess so I I first heard about you it was about seven years ago actually in November before we got married in May and I was on rotation and in the hospital in Lima Ohio and we were between cases and one of the senior residents was talking to a nurse anesthetist and I overheard him you know oh yeah we did that we were on beans and rice rice and beans and like okay that's a that's an interesting conversation over there so I I asked the senior you know resident you know what what are you guys talking about oh there's this guy he yells at people for buying cars it's a great show so I thought I could I could check that out so I would practice my suturing listening to the to the podcast actually went out and bought a Total Money Makeover and then when I when I went back to to Lauren we were living both in Cleveland at the time before we had got married and I said you know when we get married you know we're selling your car we're gonna get out of it yeah I had a couple thousand left okay on this car yeah and he just wanted to get rid of it right off the bat she's like well I still need something to drive I said oh I guess that's a fair point so so once once we got once we got married then we sort of combined our income combined our finances we actually paid off her car and uh she's and I had a student loan yeah hair stylist so she had cosmetology school we yeah paid both those out and then two weeks into our marriage found out we were married with Ava sorry expecting Ava and so we sort of went to Baby Step Zero for about four years because about 15 months after Ava was born Nora was born and oh my gosh 15 months apart yeah it was back to back and then we were moving around the country for my training I trained in Indianapolis and then went to Florida for a fellowship and so when we started out at that 105 that's after actually will was born and we were wow yeah we're ready to put down some Roots so that's when we sort of jumped out of baby Sub Zero and we went really hard so there was about five years there of just of job craziness kid craziness I was my gosh and you're but you still kind of kept it in a sense even though you hadn't really fully started I know you guys paid off some alarm stuff yeah but it's like right when you got out you're like we are on this which is impressive to keep that momentum of the of the longing to do it right in the middle of kids and all that uh all the way to the to 19 months ago yeah and then Hammer Down yep absolutely yeah that's so great was it hard to be making that kind of money and continuing to live like you're broke you don't want rice and beans beans and rice I mean to be honest with you I don't think the living was that hard because we had sort of we were under such a fine margin for so long and yeah with little ones we were sort of used to we didn't all of the furniture in our house was hand-me-down Furniture yeah everything was hand-me-down so we were we were okay with that um but I think the hardest part was just giving so much of that money just back to the government back to the government that that was really hard just uh that was painful showing how all that all those checks just straight to selling me so yeah that hurts our date nights were going to Home Depot looking at appliances that we'd want someday yeah like just dreaming like someday that's a good point though because you didn't have to go backwards in lifestyle because for a lot of people they're like oh they were living this lifestyle and then they have to stop it go backwards yeah but you continue to consistently do what you guys have been doing which is that's awesome did people think you were crazy they didn't tell us to our face they were nice to our face that's fun well that's impressive you guys I mean that's tell people the key to getting out of debt is we both talked about um we feel like it's mindset you know you have to be prepared to make all the sacrifices and know that your life is not going to be probably quite as fun as it could be yeah I think uh there's a quote that I I heard by Pope Benedict and he says you know the world will offer you comfort but you are not built for comfort you are built for greatness and I feel like that I just sort of feel like that really applies to to this scenario you're you're going through the discomfort now so that later you have that and you can also be a source of comfort for others it's just another way of saying you know live now like no one else so that later you can live like no one else yeah so good good very good congratulations I'm proud of you thank you how's it feel to be free oh it feels great yeah I mean you got a lot of young doctor age you're walking around they don't even know what Freedom looks like they've got so much hanging around their neck don't they yeah yes and you just walked right past them well you just did did you just blew past them and now you got three little babies and you've changed your family tree life is great man well done you two let's do that alone didn't fit in with our lifestyle that's not what we wanted so it's awesome we didn't like Sallie Mae in the spare bedroom the old lady put her on the street she's ugly I like it way to go guys hey we've got the live and give bundle for you the baby steps millionaires book you're going to be there in 20 minutes thank you and uh of course Total Money Makeover you can give that to somebody if you want and the Financial Peace University membership and all the babes and if you ever met there so yeah bring the babies up and let's see their names and ages so Ava is six Nora is four and will is almost two very good not far off of Rachel's ages very good you guys congratulations thank you all right have Ava and Nora and William been practicing their debt-free screams yes they have they're ready are you ready kiddos you ready here we go all right Anthony and Lauren Ava Nora and William from Fremont Ohio 221 000 paid off in 19 months making 105 to 280. count it down let's hear a debt free scream you guys ready three three two one [Music] yeah yeah [Applause] that's the sound of a family tree being changed oh we scared the little William got scared that's what it sounds like of our family tree to be changed I mean you make 280 a year she's at home full time with the three now and um you got zero debt oh my goodness do a lot there's gonna be a lot of change it's gonna be a lot of possibilities a lot of things they can do a lot of people they'll be able to help and certainly those three littles will have a completely different life because of this last 19 months of sacrifice absolutely very very very well done that's how you do it folks live like no one else so that later you can live and give like no one else that Pope Benedict quote is really good it's really good not built for Comfort but built for greatness yeah and that's it it's like you just want to be comfortable and you're not comfortable with the Comfort crisis we read that book yeah same idea it's like it pushes against everything that you were actually CR you really were created for on so many levels we have too many people searching out Comfort rather than searching out greatness yep and um yeah Michael Easter that's the author of that book Comfort crisis we're going to have him on are you really we're gonna have we're gonna do an event with micro and me and him and some others talking about the labor crisis in America we'll be announcing it soon a big big live stream coming up this is the Ramsay show [Applause] [Music] [Music] Rachel Cruz Ramsay personality is my co-host today thank you for joining us it's a free call at triple eight eight two five five two two five when was the last time you were excited about Monday What If instead of waking up exhausted and dreading you're weak you actually look forward to work because you're doing work that you love work that mattered worked where you got traction where you were functioning in your passions hey that's why career expert and Ramsey personality Ken Coleman created the get clear assessment to help you discover your top talents passions and a clear mission statement that'll help you find the work that the world needs you to do when you find that you're going to be very fulfilled you're going to make more money and you won't be thinking about stupid stuff like quiet quitting instead of reaching for uh communism you'll Embrace capitalism you know I mean it's a good idea when you you know when you actually find what you love that's what ends up happening this week only the assessment is ten dollars off the sale ends at midnight on Friday get the deal today go to ramseysolutions.com get clear now what we know is that since the first of the year the Ramsey Show ratings and viewership and listenership and all of our various formats are way up thank you for that we appreciate that but what that also means is a bunch of you that are newbies around that when we're talking in code like baby steps and debt snowballs and stuff you don't even know what the flip we're talking about so uh because we like this tribal speak and uh you don't necessarily know the tribal vernacular yet hey we want to help you move along your financial Journey your life Journey go to Ramsay solutions for free and click on the get started button we'll tell you what your next step is and begin to indoctrinate you into the tribal lingo but show you why we're doing what we're doing and you can begin to plug in to say this is where I am and here's a good next move from me and according to Ramsey this is what I should do I wonder if I should do that or not and we'll show you get started at ramseysolutions.com Logan is with us in Dayton Ohio hi Logan welcome to the Ramsey Show hi sir how are you doing better than I deserve sir what's up hi we've uh me and my wife have been kind of getting into wasn't your podcast and we're getting ready to start our debt snowball here soon and one of the best ways I'll help with that is to increase our income I am currently a mailman I make about 50 000 a year my wife is a travel bus for a nurse she makes anywhere from 100 to 150 000 a year uh but she's not wanting to do that for much longer because we have a one-year-old and a newborn um so I'm thinking about trying to switch jobs possibly um one idea is like truck driving because you can start anywhere from seventy thousand dollars to ninety thousand dollars but I'm worried about uh with the host office that you have benefits of a pension and your insurance health insurance is getting paid after you retire um our goals are to build a house one day and retire early so I'm just trying to figure out which way you know is is best to take you know the better pay now or to you know take the long road with the post office if you take better pay now and spend it all then you're going to end up with none of the things that the benefits would have done if you take better pay now get out of debt and become wealthy you can buy your own freaking health insurance that's kind of when I was hoping I just didn't know like what you know would thirty thousand dollars a year replace a pension and health insurance easy and stuff like that easy easy okay that's what I was worried about I just I just I want you know a good life for me and my kids and do you mind if I answer a question you didn't ask of course um I'll make a statement instead I think you're taking the truck driving gig only for money not as a long-term career goal that you think this is going to be awesome and you're going to love doing it the rest of your life that's probably true yeah I think I wouldn't do that I think you can find something else that makes eighty thousand dollars that gives you a high quality of life or makes 70 with you learning a skill that you want to do the rest of your life and you move from 70 to 80 to 90 to 100 over time yes sir so I want you to I want you to take that get clear assessment I was just talking about a few minutes ago and think about where you want to be working and I want you to go get your income increase but I want it to be with something that gives you purpose fulfillment and then at the end of your life you haven't dreaded Monday every day and just done your duty as a good husband and Dad and right now that's what you're doing you're just saying I'm going to do my duty my wife wants to come off the road and I'll go make some I'll go handle the discomfort of being an over-the-road truck driver in order to make more money so she can do that and you were just you know you're just being a good man and I appreciate that about you that's what I'm trying to do yeah but I think I think there's a way to do both it's going to take more effort and a little bit more mental strain for you to think through it and figure it out it's not as obvious as just going oh I can make more money doing that I'm gonna go do that but that's going to get old fast man do you have anything Logan in like a dream world have you even let yourself go there if man what if one day I could do X Y or Z you could do anything you wanted to do and money wasn't a problem what would you do it wasn't a problem I had the time to go back to school I'd love to be like a psychologist or a lawyer um but that's a lot of money and that's that's you know seven eight years of school okay that's what you're you're right about but there's something in those is it helping people what's What What In Those careers is it that you find interesting wow I think that's the mental aspect of it um just you know understanding people and why they do things and uh yeah I'm always I I don't I'm not saying I like to argue but I'll play Devil's Advocate and like a debate with somebody just just for the fun of it I don't know anybody like that so yeah pretty much yeah I mean I the same kinds of things motivate me exactly and that's how I end up here uh in a weird way but um so it may be that there's other ways you can manifest those exact same desires other than two careers that have long uh education paths yeah and I would say though to Logan in the meantime in your wife's home with a toddler and a new baby and I know jumping from job to job isn't ideal but if they're like if you guys were in a more urgent situation you know for me driving for for six months while you figure out the long-term plan could still be in play just to get her home like yeah okay but I wouldn't I wouldn't say let's just sign up with this with no no exit I want an exit strategy yes yes but in the meantime as you call our show today if you guys don't want to wait six nine months till you figure something out if there was a quick move you want to you both wanted to make sooner you could do something in the interim until you really found that thing yeah as a step absolutely so Austin uh we won't have you pick up and give Logan the um the paycheck to purpose book and the clear assessment because I just told a truck driver he needed an exit strategy so man well he said he's going to be a truck driver oh he will be a truck driver he'll be getting off he'll be getting off at the exit I can just tell you so much okay I'm glad I missed it that makes me I'm enough plugged in you're part of the family you're part of the family if you missed it because I missed it until it came out of my mouth but oh you gotta love it all right I am uh well known for those wrong metaphors at exactly the wrong time so it's it's kind of a classic Dave move open phones here if you want to talk about your life and your money triple eight eight two five five two two five thank you for jumping in Rachel I think it's important to reiterate for everyone I remember Earl Nightingale who did the The Talk The Strangest Secret many many years ago with that baritone voice she would say too many people spend more time picking out a suit of clothes than they do their career and you're going to spend the next 30 or 40 years maybe at least some kind of version of what you start what road you start down and so don't just pick something for the money and and the other assumption you can't make is that just because you're doing something you love you have to make less I don't know where that comes from it comes from the same place that as soon as I get laid off the next job I get I'm going to make less why don't we assume we're going to make more and why not if you were doing something you loved would you not be more enthusiastic more creative more engaged and work harder at something you love and therefore end up making more but we think we have to go work for Mother Teresa or something or go in the non-profit and the Peace Corps in order to be doing something holy or be doing something that is of meaning or purpose or be doing and that's just absolute bull just wrong yep yep so don't don't assume less assume more and that's not some kind of prosperity or abundance thing it's just factual I mean if you're a better at something because you love it you should make more at it hello this is the Ramsay show [Music] foreign [Music] hey it's Rachel Cruz if you like what you heard in this episode and want to know more about getting started on the Ramsay baby steps go to ramseysolutions.com and click the get started button we'll help you figure out the best next step for you based on your specific situation that's ramseysolutions.com and click get started [Music] [Music] live from the headquarters of Ramsay Solutions broadcasting from the PODS moving and storage Studios it's the Ramsay show where we help people build wealth do work that they love and create actual amazing relationships Rachel Cruz Ramsay personality number one best-selling author multiple times my daughter is my co-host today as we answer your questions about your life your money open phones at triple eight eight two five five two two five Valerie is in Oakland California hi Valerie how are you I'm doing well Dee thank you for taking my call it's a pleasure to be on with you today thank you how can we help so I was recently in a car accident that um totaled my car or they're writing it off wow are you okay totally yes I'm fine and grateful to be here just to be alive um so they're writing my car off and offering me 15. so I use my car for work and I'm a physical therapist that does home care so I need a really reliable car and of course my car was paid for I'm on baby step number four I have no debt I was working on my emergency fund I had about a 11 000 in it trying to get to 25 and um I don't know what to do about a vehicle now of course I have a rental until the end of the month but just feeling pressured to make a decision well you were driving a fifteen thousand dollar car and your fifteen thousand dollar check you go buy a fifteen thousand dollar car yeah it's not going to have all the bills in with them it's the same car that car should have a market value that was totaled of fifteen thousand if you're getting a fifteen thousand dollar check you should be able to buy that car again right I can't find that car again it was a 2014 Toyota Camry fully loaded there's millions of 2014 Toyota Camrys if there's anything in the United States it's Toyota Camrys this is not exactly a rare vehicle okay but I've only got one and I've been searching I just haven't been able to find one okay but I mean you can you can find a car for fifteen thousand dollars that is comparable in equipment reliability quality miles to the one that was totaled all right we know that because they gave you a market value of they gave they have to pay you by the terms of the auto policy market value for the car so if you had sold your car it would have sold for fifteen thousand dollars okay but I I was working a plan though uh school now I don't know it's just an inconvenience I guess it is it's a huge inconvenience it is Valerie is the timeline's what's stressing you out because you're like I'm researching but I have two more weeks I'm assuming until your rental is up um right I've got two more weeks for my rental how about this Valerie what if you paid one more month of a rental and you said or two or another an extra week of that just to give you some breathing room to be able to find this because you should be able to find it yeah so Valerie let me tell you what's happening okay and what I'm pushing against and this is why it's messing with you I've not been fair I'm gonna be fair now I'm gonna tell you what's going on okay almost every time for 30 years I've talked to someone in your situation for some reason the human brain says we need to move up in car we need to celebrate the fact that our car was totaled by getting a much better car and so you've been out looking in new cars but they jumped in front of you when you were going down the road that car dealer lot is swung around at the traffic light and there it was in front of you right but I was looking for a used car on that car lot and today they're telling me that the used cars are costing more than the new cars yeah this would be who that told you that the new car dealer but that's a bunch of crap okay that was true for about five months during the back end of the pandemic when the Mississippi ran backward and used cars went up in value it's the only time in history those two things have happened in one year it's absolutely a miracle the Red Sea parted that year too so but no it's not used cars are not more do not cost as much as new cars that's not true anymore it was true for 20 seconds and it's not true anymore so you know I mean if you ask a new car dealer if you need a new car that's like asking a dog if it's hungry okay okay so no you need to go look for used cars you need to jump on auto trader some of these other things and I wouldn't even go to a dealership like I mean I would just look online yeah I mean you know I just said just to be able to not have the emotion of being there on the car lot just go do some research online I want you to fight about the idea of a fight with yourself about the idea of an upgrade because there's something about the human brain that says when we total our car we have to get an upgrade and that's what I was that's why I was wearing you out about the value of your car a while ago because I was trying to break through that in your brain because it does all human brains seem to do it I I've noticed it I I've uh but it's like okay time to get another car oh let's get a better one you know and so there's something about the Trump the trauma that you've been through with the car wreck there's something about this I didn't want to deal with all this now I got to deal with it so while I'm at it now it's an emergency for me to have a twenty thousand dollar car instead of a fifteen thousand dollar car so I'm gonna pull five grand out of my emergency fund which you should never use your emergency fund for something that is not an emergency that's why we call it an emergency fund and so yeah this is what but there's something about that so I'm just that's a good point because I just kind of rattle you a little bit Valerie and say hey go find a 15 000 car and then you're right back on track yeah because I was sensing a little bit of this urgency and panic and frozenness of the timeline of like I only have two more weeks so giving her that extra week might calmer but I think you're but yeah you're you're spot on because especially if she's already looked at new cars she said well yeah the the bells and the whistles like she said and and not that you can never have a nice cartoon like make that a goal that's part of this plan once you get your emergency fund and you move on to Baby Steps four through six and you do some stuff you could step up and car then I mean it's not like you'll always have to drive a fifteen thousand dollar car but for now it's gonna be the wisest move to continue to go down the baby steps and let's just say out loud that a fifteen thousand dollar car today is so much better than anything I drove for the first 30 years of my life I mean the quality of the vehicle oh yeah the amount of life left in the vehicle was more than a new car in 1974 Hadley I mean it was you know I mean so they they don't make them like they used to thank God you know I've got a 1960 Corvette and it is cute and it's a frame Up Restaurant when we put a new engine and drivetrain in it so it's got a good engine and drivetrain in it but you can't stop the thing in a 10 acre field with those dad gum horrible 1960 breaks they don't make them like they used to thank God every time I go around the corner it Corners three times you know it's a marshmallow and it's supposed to be a sports car so it's cute and it's an antique but this uh you know the fifteen thousand dollar car in today's world is amazing dad come nice car I mean it's it's you're gonna be okay everybody you too Valerie but everybody out there just this idea I gotta have a forty thousand dollar car to be like be subsisting or something is it's America crazy this is the Ramsey Show [Music] [Applause] thank you [Music] buying a home is one of the biggest decisions of your life you need a partner like Churchill Mortgage Churchill is one of the highest rated lenders in the country and their Ramsay trusted because they do what's right for you Churchill works with you to build a mortgage the Ramsay way one that doesn't bust your budget sets you up for financial success and helps you get out of debt faster go to churchillmortgage.com today and get started [Music] thank you [Music] Rachel Cruz Ramsay personality number one best-selling author is my co-host today open phones at triple eight eight two five five two two five you jump in we'll talk about your life and your money it is a free call hey guys if you want to help us out we can use the help and some of you have been doing that and we appreciate it number one you can share the show if by telling somebody that you know let's do it on the radio or watch it on television or if you want to share your YouTube link or your Spotify or your Apple podcast link or talk about where you listen to talk radio whatever it is share it tell people about it help us help us help us help us we are not spending 300 million dollars a year on marketing and we don't have a football stadium like um I'm sorry I got the English I got allergies um and so we don't have uh anything like that so the only thing we can depend on is you guys to help us spread the word and it's working when you spread the word and leave a five-star review soon like today tell people you love the show if you if you want to do a one star review there's other shows I can direct you to because if you can't say nothing nice don't say nothing at all that's what mama said so there you go and of course we also want you to follow the show subscribe if you're in a digital format like a a podcast or YouTube If you subscribe or you follow it helps the algorithm and drives it as well so uh we're moving on up uh the uh the marketing team the radio guys they're the broadcast guys their goal is for us to be in the top ten of all Apple podcasts uh we are at Lucky 13 today oh lucky 13 of all podcasts in the world there's a two and a half three million of them and we're number 13. lucky 13. so we but really I mean we shouldn't probably hover there I'd probably rather be 15 than 13 and I'd really really scary I'd really rather be five there you go so uh let's get up let's get back let's get in the top ten uh I mean it's working for us it's good but you guys spreading the word this is what does it thank you thank you thank you for that our question of the day comes from our sponsor neighborly great company they're your hub for Home Services when you need to make repairs schedule routine maintenance or find local help on Improvement projects neighborly is your source for Reliable home service providers in your area things like Mr Electric or Mr or Molly Maid go to neighborly.com and start your search so today's question comes from Jonathan in Kansas we have some money that we are waiting to invest in silver or gold some people are saying that the centralized banking may fall apart and gold might actually become the standard again what do you think of that I think some people spend too much time on the internet everything that's on the internet is true Abraham Lincoln said that it's every uh oh my gosh every conspiracy theory in the world no but seriously though it is uh it's always there though I mean like gold is all it's that's all it's been a fear type of idea you need to invest in it you need to get it because of the fear of everything is going to crash yeah and let's let's address two different subjects here okay one is we have some money we're waiting to invest in gold or silver okay first we'll address that one okay never invest in gold or silver okay the way you pick an investment is you look at the track record of the rate of return of the investment so if you're going to buy a house for investment and the area around the house is blighted crime ridden full of trash and the values are going down because the neighborhood sucks that's the track record of the neighborhood Common Sense would tell you don't buy a house there right you look and see are the homes well kept or are the cars up on blocks you know you look and see you know is every other house foreclosed on on the street and boarded up and codes and rat infested you don't buy on that street you look at the track record you look at the track record of a mutual fund it's been open 30 years it's averaged 12.2 percent that's a good track record right but I I look at a look at the track record of cryptocurrency full of fraud sucks most everybody lost everything you look at the track record of Bernie Madoff really bad idea everybody lost all of their money you've got conned you look at the track record of gold for the last 60 years it has averaged around two percent a year that sucks it's not magic because it's gold it's a it's an investment silver the same way horrible rates of return over a lifespan of investing yeah there's been little blips based on fear or greed but gold sucks as an investment well what if the Central Bank the central bank's not coming back you conspiracy bozos the Senate if the Central Bank collapses in America you need bullets you don't need gold because all hell's going to break loose I'm gonna say bottled water bottled water and bullets and I'll take your bottled water if I've got bullets so I mean like yeah that's unbelievable I mean it's going to be Anarchy right it's a central bank collapses every business that you can name right now that you're familiar with will have gone away simultaneously I mean it's similar to a nuclear winter right okay you're going to have a whole new government you're going to have a whole reset of the property rights and economy this is not like gold is going to help you in that no it's not so the central bank is not going to collapse oh my God just because one bunch of duber venture capitalists and startup Tech Guys ran their little San Francisco Bank into the bay does not mean the central bank is in trouble because it's not boys and girls it's not so two things don't get into conspiracy theories because it leads you into stupid but Investments like gold you you can get into them but just oh you can't get into it listen and be entertained but don't make your financial decisions based on them okay okay but these were all about decisions these are all about financials that's right we don't want to do financial decisions for those of you that are new to the show Rachel is our resident conspiracy theory Queen she believes things that most not that humans don't believe but she loves to see what I said two or three years ago is now fact so I'm just telling you well I you know when it comes to covid conspiracy theories it's a bunch of other stuff yeah a bunch of other stuff okay there we go we could have a whole show Dave let us have a podcast please we have been people have been begging for yeah as long as you don't hear it on this show you can have a podcast you go do your own little podcast and you can do that over there in the corner I don't We're not gonna do that to this show this show Works hey hey all of you that want Rachel to do it it's all the Stranger Things by Rachel no weird stuff by Rachel weird stuff conspiracy theories by Rachel and have George on because Jordan they'll listen raise your hands God there's a bunch of weird people no it's because some of it is true it is it's true it is area 51. now this is so great that's like welcome to Thanksgiving at the Rams season it's a triple eight eight two five five two two five Brandon is in Milwaukee hey Brandon how are you hey thanks for taking my car sure how can we help so I got a little bit of a debate with my wife um so I'm kind of new to the Ramsay life she is a Ramsey she listens to the podcast so she doesn't know I'm calling in case I'm wrong so we own our primary residence outright and then we have five duplexes and our principal interest taxes Insurance everything is 2300 a month for all of them how much debt on the five duplexes total debt uh like 280 I believe What's the total value on the five duplexes uh 600 ish okay so you got about 50 you got a little over a 50 Equity position well done how can we help yeah so she she says that you say only buy rentals and cash absolutely but I saw I heard you say that as long as our mortgage is under 25 of our take home that would not be your rental that would be your home you should only buy rentals in cash I own several hundred million worth didn't keep them pay them off yeah as far as these these things go I'd get them paid off in three years or I'd sell one to be able to do that but uh pick out one you don't like and sell it and and get yourself out of debt you get out of debt dude you're gonna make more money in real estate you ever made in your life I mean the best thing ever happened to you [Music] [Music] thank you we've been doing business at Ramsey for more than 30 years by now we're a well-oiled machine but it wasn't always that way yes we've always had a vision always had determination and a drive to help people but what we didn't have was one central place to access all our numbers so that we could get further ahead or quickly see when we needed to Pivot we were always jumping back and forth between different systems and spreadsheets so when netsuite by Oracle helped us Wrangle our Revenue inventory expenses and more into one place it was a game changer and netsuite's number one Cloud Financial system can help your business gain the same visibility because businesses thrive on timely data and next week's real-time analytics can help your business have immediate access to your numbers daily so you always know where you stand and you can move quickly so go to netsuite.com Ramsay today and set up a free product tour that's netsuite.com Ramsey [Music] foreign [Music] well you guys I can't even explain how excited I am for the new money and marriage getaway event here in Nashville Tennessee on October 19th through the 21st so we have a full weekend planned for you and your spouse and it's it's gonna be so much fun you don't want to miss it and here's the thing that life is crazy and it's really hard to find time for just you and your spouse so we wanted to give you a chance to unplug from your day-to-day life come to Nashville have a little weekend getaway and focus on your marriage so Dr John deloney and myself are going to coach you on all different things around your marriage including your money and budgeting with your spouse you're going to learn new ways to communicate so that will make better connection and you'll get realigned on the stuff that really matters so that you have a stronger future going forward in your marriage so this isn't just a typical marriage conference we have an amazing date night experience plans for you plus time to reflect with your spouse and apply everything that you are learning to your marriage so we we've got a lot plans for you a lot of good food fun surprises and you can get early bird pricing on all of it with for just 699 dollars a couple so you guys that is a deal for the entire weekend that's the price so talk to your spouse and then go to ramseysolutions.com events to get your tickets to the money and marriage getaway here in Nashville Tennessee in October this will be held at the brand new Ramsey Event Center which we opened this week uh today yeah yeah we had a big kickoff today was our first group meeting up there we had a a family a uh Ramsay family Ramsey team uh devotional up there and uh it was it was pretty incredible Michael W Smith hung out with us and let us in some praise and worship and Dr Michael Easley spoke and it was a pretty pretty special morning uh thanks to some of our really good friends here in the area so come out make sure if you're in town we're doing one of these events at the Ramsey Event Center you're going to want to see it it's a pretty uh pretty extraordinary building and we're really really proud of it it's just a fun place to host yeah gonna be great there it's perfect for that all right up next is going to be Elizabeth in Grand Rapids hi Elizabeth welcome to the Ramsey Show hi Dave and Rachel thanks for taking my call sure what's up so my husband and I right now um own our home and our own business a construction business that we do seasonally and this is our first year owning our own company we made about 150 net income wow and now my dad has asked us if we want an hour and a half away um we haven't ever had any debt and the business would be to buy that about a million and then eventually to buy the property is about 3.1 million and we're not sure if we should do it or not um I think the business the family business is something my husband would enjoy doing and it's definitely a lot less physically demanding right now with our construction business it is a physical job so it could get harder long term how old are you guys uh we're 34. okay what kind of business is it they sound like industrial equipment like forklifts okay one of my best friends is in that business okay um and that business the past two years has made about 500 net income unlike a low year 200. okay and um on average of the last three years well your last three years are weird but um in a normal World average the last three years times about four is about what it's worth so it's probably not a bad valuation on it um and uh so how much do you guys know about the inner workings of the business we know no husband will go like step in for my dad so he can go on vacation so he's able to do that am I right uh I I think I remember hearing that most of the money is made on the service and the ongoing uh maintenance and issues around the the equipment more than it is on the actual sale of the equipment the margins on the actual sale aren't that great he makes most of his on the sale I would say because he's more in the refurbishing and reselling okay so he's selling reselling used stuff instead of new okay yep all right cool out of it some new too new and used all right uh well I think the things you guys have to ask yourself first the reason I'm asking these questions are the questions you need to be asking yourself hey do you want to do this for the rest of your life just because it's available doesn't mean it's the right thing okay and do you want to live in that town I mean an hour and a half away is that where you want to live is that where you want to have your life because the answer until today was no you wanted to live in Grand Rapids and you wanted to run a construction business until today yeah and be careful that uh you know something that your dad wants you do it for that reason you don't want to do it at all for that reason dumb reason we work on that around Ramsey all the time don't do something just because Dave once you do it you gotta do something because God calls you to do it it's because it's what you're supposed to do it's what you're wired to do it's what you're designed to do you're going to love doing it um because business is too dadgum hard would your dad still be in the business Elizabeth no he would like to like treats why doesn't he buy it too much responsibility your brother is not reliable not really no not as reliable so what's going to happen to your family when you fire him because it doesn't sound like he needs to be working there yeah but he's not reliable he's reliable and he can do that he does that well okay so now we got another thing you got to work through is hey what are we going to do with him and B how are we going to manage that relationship uh as him as you know you're his new boss that's a thing one of my concerns that's a thing okay but now let's back up then so the evaluation doesn't sound bad the real estate's a separate transaction that doesn't sound bad you can sign a lease uh guaranteeing that your father-in-law or your father doesn't lose his mind on rent and run you out of business with that so you lock down the property like you would if if it was a different landlord you'd have a long-term lease on the property so you could have a stabilized business right yes and at least with an option to purchase so at least with an option to purchase on the real estate no I'm not going into debt a million dollars to buy this under no circumstances what I would do is this um I would work for pennies in the business as little as your family can get by on and give your dad in other words if we figure out that the thing's making a half a million and um you guys are going to take 50 000 out of it and live on fifty thousand a year and give him everything over that until we get to a million no no no no no no I don't care what he said I'm setting the deal up and it's going to be in pay on paper in writing that all of his income up to a million dollars for the valuation of the business comes to him from profit above 50 Grand and you live on 50 Grand or whatever number you set and so if there is no profit above 50 Grand he gets nothing that year that's this deal because otherwise you are in debt to him and you are going to mess this up it's going to be a problem it's not going to be run like he wants it he's going to want to put his hands back on it and you're going to have a former owner walking back through the place with his muddy boots while you're trying to take over leadership can you tell I've done this before yeah no I'm worried about that too yeah because your dad started this didn't he second generation okay all right so we have to have some clear boundaries and the deal has to be in writing as if it wasn't family and don't you know don't don't half but do your your business dealings because it's family because you end up destroying family so you understand the structure of what I'm saying he can have all the profits above X until until we get to a million dollars it sounds like you could pay him out in about three or four years if you did that but if there's no profits because there's like I don't know a pandemic or something then you're not out of business and your father's not foreclosing on you because oh I worked my whole life not deserve my money I don't want to hear this crap okay I want to hear it at all because this is our deal prophets is where you get your money from no profits no money and that includes if the narrative well brother doesn't do his job so we don't have profits doesn't make any sales by the way you're a sales guy this is the Ramsay show [Music] [Music] [Applause] thank you [Applause] [Music] thanks for joining us America Rachel Cruz number one best-selling author and my daughter is my co-host today Elise is with us in Charlotte North Carolina hi Elise how are you hey this is Rachel thank you so much for taking my call I appreciate it sure what's up so I um I'm kind of in an interesting situation um I recently finalized a divorce um I have about 150 000 cash on hand as a result from the sale of our home um and I am not sure if I should put it into retirement um I only have about seven thousand dollars in a rollover Ira um or do I put all that towards the down payment of a house in the somewhat near future um we kind of don't really know what to do uh or where to start how old are you I will be 33 this year how long were you married uh it would have been six years last week what happened uh introduction I'm sorry I'm so sorry thank you um okay generally speaking uh you're in a position right now because you've been through hell uh traumatized traumatized will be the technical term right um and a uh Dr John deloney would say that when you um have your trust and your confidence violated it takes some of your self-confidence away the ability to believe in yourself to trust you know I I trusted him so I must not know how to do this right kind of it takes some of your confidence away does that sound right yeah that sounds about right I've been sitting with this money for about uh almost a year now and I've really just I haven't know I've been kind of scared of doing anything like that you don't trust yourself like you used to before the garbage and that would be like a normal human thing by the way okay and the good news is you'll heal from that and you will begin to trust yourself and you'll begin to discover that actually you are very trustworthy it's him that wasn't it but it'll occur to you and you'll start the emotional healing I'm quoting Dr deloni now okay this is not I'm not a an expert on this but it's also kind of common relational sense and it's stuff you've been living in so I'm so sorry for your heart broken that's just it's just an awful thing you've been through so um for sure so I know it is not a retirement thing if you want to own a house right now yeah that'd be okay buy you a house put that as your down payment but there's not a law that says you have to buy a house right now I mean you can put the money in a simple if you want to say I'm going to take three years and I'm going to put it in a mutual fund and I'm going to go backpack Europe I don't know I don't know what you're gonna do but uh you know what I'm saying I don't care I'm not doing that but um sounds like a lot work to me but the um but people do that thing I've heard you know you know so uh you know it's what do you do for a living I'm an account manager for a tech startup okay have you got family in your area yeah I'm really blessed to have my parents about uh 45 minutes up the road I've got great friends here love Charlotte never leaving so you got a good environment to work through this shovel this garbage out right what I was going to say then look at that okay did I quote him right no you did you did perfect okay good because you probably listen to him as much as I do then okay all right so um yeah I just don't want you to feel forced to do something like uh by some Financial rule that doesn't exist in your head like if I if I don't invest this I'm a horrible person and I'm stupid no that's just not true you're in a transition period and parking money in a transition period is a normal thing so if you want to buy a house I'd probably buy a house but if you don't if you want to just put it in a CD and say you know I'm going to just kind of Coast for a little while longer and enjoy the ride a little bit and then I'll buy a house I don't know Rachel what are you yeah how long have you guys been separated at least how long have you been on your own I've been on my own for almost two years now almost okay so the so the divorce took that long and then it's been finalized so now you're ready to exactly yeah make that next step so I mean yeah I mean is owning a home something that is that a goal for you here soon is it something that you would love to do yeah uh I think with rent in Charlotte I'm sure anybody that's in Charlotte listening right now can attest to it uh rent's just so crazy and I think after being a homeowner for so long I I can't stand I feel like I'm throwing my money away um here's what I would suggest though I would suggest buying a home that is um not unique it's not special it's not weird it's three bedroom two bath on a street with houses with three and four bedrooms and two baths you know I mean it's a house that's very predictable and the reason for that is you can sell it if you want to move on with another stage of your life five years from now but for now you can scratch the home ownership itch get back in the game so to speak and just go buy something on a nice you know even a condo but something is very predictable that it's going to be easy to sell because it's good Market but if you get this weird little thing that's special and there's only four people on the planet that like it and you're you're one of them you know then you've got a hard time getting out of it later you see what I'm saying yeah no I feel like you you called me pretty well okay yeah that's that sounds good yeah just get something that's kind of a little bit generic and you put paint colors or decorating that that gives you your personality but it doesn't have to be weird to show off or something right now because that's the other thing is is um I predict that five years from today your life is going to be completely different and you're probably not going to be living in this house and I want you I want to give you I want to give you a way out of this house that's very predictable and you will have enjoyed the investment of real estate because you can sell it for a profit yeah and I think making a move Elisa since it's especially since it's been two years you've been on your own for two years uh there is a confidence boost there that I think is great I mean I think putting this down on a home uh of something that you love that's yours there's a sense of dignity that's kind of restored in that and so I yeah I mean I'm a huge fan I wouldn't rush into it if there's something that you don't absolutely love if you want to buy it because you want to own a house fine but not because like I feel the social pressure that I'm wasting money or I'm dumb if I don't get this money invested or something I don't want you to do that I don't want you to feel impressured but if you want to fight go take your time select a good house that is marketable when you get ready to resell it so you can make a good profit and you're not trapped in the silly thing then yeah I definitely would do that no question about it open phones at triple eight eight two five five two two five you jump in we'll talk about your life and your money Rachel it's good to remember for everyone out there and her case illustrates that the personal finance is more personal than it is finance and what that means is not that you get to customize the law of gravity you don't principles or principles but it means that you're given the situation right now might dictate a a different angle on a traditional financial situation yeah you know and so if you've lost a a spouse you don't need to rush out and be a suddenly a great mutual fund investor you know if you're brand new out of college and you're getting married in five months and you want to go buy a house and she's never seen it dumb idea you know so that personal situation changes what normally would be a good idea to buy a home for a young couple if you can afford it you're in good faith but it changes its uh situational yeah absolutely because as well as seasons change so fast in life and I feel like that's even something that I'm running into with our seasonal life with with kids and we have friends that are now upgrading homes because they've finalized their family and now they're like okay we need some more space and some more room so just how quickly things change as well just keeping that in mind I think allows you to make decisions with a little bit more of that flexibility you call it finalizing your family I've had some family I wanted to finalize ours is finalized I can tell you that we're having three kids and we're done that puts the sour the Ramsey Show in the books [Music] hey it's Rachel Cruz if you love this show and want a deeper dive on your money Journey we have a Weekly Newsletter that gives you trending and helpful articles and tips on following the Ramsay way just go to ramseysolutions.com today to sign up for our newsletter again that's ramseysolutions.com to sign up for our Weekly Newsletter [Music] [Music] live from the headquarters of Ramsay Solutions broadcasting for the PODS of moving and storage Studios it's the Ramsay show where we help people build wealth do work that they love and create actual amazing relationships this is a baby steps Millionaire's theme hour we are going to talk to real millionaires not your brother-in-law with an opinion who votes wrong real millionaires we're going to talk to people who really have money got it and kept it and learn how they did it what did they do so that you can be like them see the problem with this whole millionaire thing is all of this wealth thing is half of the information out there running around is mythology let me just help you with this Rachel Cruz by the way Ramsey personality number one best-selling author my co-host for this baby steps millionaire female or if you are a millionaire a net worth millionaire which is the only kind of millionaire there is that means your net worth is a million dollars or more net worth is defined as what you own minus what you owe equals 1 million or more your assets minus your liabilities when that is a million dollars or more well that's too much money this is not a moral construct it's a math thing well no one should have a million well that's not it's not we're not asking your opinion about that all we're saying is it's a math thing well it doesn't feel like it's enough it's not a feeling it's a math thing if you have a one million dollar net worth or more by definition you are a millionaire I don't even care if you feel like it or not you are it's not a feeling it's not a moral construct it's a math thing it's an accounting entry and so that's all it is and and it but it isn't Milestone and an indicator of becoming wealthy and Rachel the greatest mythology spreading around our culture today and sadly it's taken root to the point that a lot of people who are otherwise intelligent believe the lie and I think it's because they just choose to that all wealth today is inherited yeah I feel like that's a that's a mindset that's been around for a long time that if you're wealthy it just happens you just yeah because you were a trust fund baby it was given to you somehow and in the millionaire study it's 79 received absolutely zero inheritance nothing another five percent received an inheritance but it was not enough mathematically to make them millionaires in other words grandma left him five grand okay that doesn't that doesn't make you a millionaire but yes you did get an inheritance another five percent received substantial money like quarter million dollars after they were already millionaires so 5 and 5 and 79 would be called 89 that's 9 out of 10 millionaires mathematically are not millionaires because of an inheritance and that's from the largest airtight piece of research largest study ever done on millionaires in North America that Ramsey research did and we had an outside research firm look over our shoulder to make sure we're right because we knew the Communists wouldn't like the answers the wealth inequality people okay and so yeah it's not fair well fair is where the tilta world and the cotton candy are okay fair is those guys got up left the cave killed something in drug at home they did not inherit it I'm sorry if you don't like that call the wambulance that's how it really works out here in the real world now that's who we want to talk to but if you inherited the million I'll talk to you if you hit the lottery yesterday God help you but I'll talk to you okay I don't care where your million came from we want to talk to you because we want to find out your story and share it with people because it inspires people to let them know it really is happening in America today as best we can determine there's somewhere around 12 to 15 millionaire 15 million millionaires in America today it's pretty substantial and it's just a little over 3 000 billionaires in the world but a billionaire is way different than a millionaire if some billionaire is listening right now they're all in please but a billions of thousand million yeah yeah it's a lot okay so if you have a hundred thousand dollars you're light years closer to being a millionaire than a millionaire is to being a billionaire you're one tenth of the way there they're one one thousandth of the way there do you know what's funny about this mindset though around millionaires I don't know if you feel this way but just just even on social media or like when I just uh hear conversations around millionaires I feel like I find it's either no one can do it the middle class can't get ahead there's nothing there's no possibility that you can live in today's world because of of the math that if you made you know ex you know 70 80 90 30 is gone and I missed it and that yeah like you just can't afford things anymore there's no way you can save mathematically it won't work it's either that or people are like yeah million dollars that's not a lot I need more and it's these people that are in like crazy real estate investing and they're like you can have 200 million dollars like No And it's this like oh you're talking about and it's like inflated that it's that millionaire is just not that's not enough you need to be like a Deca millionaire and they keep going and going going yeah so it's just so funny the mindset I'm like I just feel like I hear from both camps yeah and so frequently and both of them are wrong yeah versus and again the people that are actually believe it and are doing the steady investing they're paying off their house they're becoming wealthy over a slow period of time they're just not the ones commenting stuff we teach will lead you to a one to a 10 million dollar net worth depending on your situation it will not cause you to be a billionaire that you cannot you cannot be a 401k billionaire it's not mathematically possible okay it's impossible but the vast majority of the millionaires we studied were a paid off home five six hundred thousand dollars and 900 or 800 or 1.2 million in their 401K in mutual funds and they're 50 50 40 50 years old and so they've got a million and a half dollar net worth and it's a 500 000 paid for House a million dollars in mutual funds and almost all of them fell in that category I mean very very few uh you know hit the lottery uh I'm this or that now listen if you want if you want to be a billionaire I mean we're talking about most the time you own or you grew and sold off a business uh and that's Oprah is a billionaire okay but it's not has nothing yeah has nothing to do with being on the uh Beyonce uh is a billionaire but has nothing to do I spoke for 84 Lumber the other day the lady that owns that second generation 1.4 billion dollar net worth oh wow 57 years old but that's the value of 84 Lumber it's a family business and it's huge you know 250 stores okay uh nine billion dollars in Revenue so uh you know so but that that's not your 401k but that's a billionaire which is way different I mean millionaires they don't have Jets okay the one to five million dollars you don't need to spend 600 000 on jet that's a bad idea so you got somebody got a jet that's a billionaire or hundreds of millions right they don't have uh eight cars they got two most millionaires okay so this is the difference in a millionaire and a millionaire when you adjust that in your mind then you go okay yeah I would like to do more than a million sure I'd like to do more than 10 million like your guys on Tic Tac that we're saying right but the uh but this idea that somehow you've got to go crazy and do stupid bus stuff to get there that's a bad idea so we're going to talk to real millionaires this hour because we know it's not from an inheritance on average and we do know it's basic investing on average but I want to hear it from real people and regardless of your story whether your story lines up with that or not we want to talk to you triple eight eight two five five two two five foreign [Music] what makes our show unique is that we genuinely care about our listeners we're intentional about choosing the best advertisers to recommend blinds.com is no exception they offer high quality window treatments at unbelievable prices and they make it simple to shop blinds Shades and interior shutters with easy online ordering free shipping and a guaranteed Perfect Fit go to blinds.com and take advantage of this week's special savings [Music] foreign [Music] guys if you're coming around Nashville stop by Ramsey Solutions we've got a wonderful Visitor Center an area you can walk through bookstore free cookies oh they're good and coffee and you can watch the show we do the show on the glass every day from one to four Central Time and we'd love to have you we always go out at the the commercial breaks or some of the commercial breaks and sign books and have pictures with folks and there's generally 50 to a couple hundred people depending on the season hanging out with us out there is talk to a guy named Jim out there a minute ago uh 2.7 million dollar net worth all in a paid for house and in his retirement mutual funds yep and as I was getting my car That's a classic Millionaire right there so good James and Katie are in Ocean City New Jersey what's you guys net worth hey Gabe and Rachel uh our net worth is uh one million thirty thousand awesome you did it cool we did it love it how old are you guys I'm 46. and I'm 41. good you're young millionaires how much of the 1 million 30 000 was inherited uh yeah zero okay cool and what has your been your range of income since you guys started working got married what best year household income worst year household income um so in 2008 um we made 30 000 and then in 2021 we made 548. there's that what do you guys do for a living uh we're in real estate okay as Brokers or investors uh Brokers okay you have do you have four-year degrees I do I have a four-year degree and what I uh in biblical studies okay yeah all right which always sets you up to be a real estate broker right okay exactly right and you do not okay what was your GPA in uh in in college Kate Katie it was like 3.6 good okay so break the million down for me how is that uh invested what's it in so um between our Roth and stuff is about 200k cash 325 our home 425 and then our vehicles a little piece of land and 529 Okay so it sounds like listening to your what I'm seeing in the numbers of your story that basically you just earned a big pile of Money Paid everything off and piled up a big pile of cash yeah in uh June of 2022 we did our debt free screen um so that 20 21 22 in real estate you know that the numbers really jumped up and we had a couple of really strong years that's so good was the debt free screamed the house and everything yeah so what would you say to someone that's like they're on their Journey maybe they've paid off all their Consumer Debt they're working on the house how how much um like springboard is it for you guys of not having a house payment and obviously you're making great income but how much was paying off that house that really opened up some cash flow that you felt yeah for sure I mean not having a mortgage changed everything um we listened to your podcast it's just weird talking to you because we've I um have like a side hustle business where I clean and so um I was scrubbing toilets listening to the podcast keeping my heart my mind centered on why we were doing this and just working really hard to um pay off debt and pay off our house and um yeah not having that mortgage is is huge man it's amazing you guys I just I want to go on a soapbox rant right now the millionaire toilet scrubber meanwhile you have people sitting around in their mother's basement whining and saying that America is broken and they can't do anything while Katie goes and makes some makes you know you guys bust your butts and clean clean up literally and then clean up figuratively that's just that's fabulous I'm so proud of y'all and now you don't do that anymore right you hire other people to do it right I do yeah yeah God told me I don't have to cut any grass anymore I cut enough grass in the first 20 years of my life to have got I got my whole quota in for my whole life it was great yeah it's the same thing right so oh my gosh you guys are incredible I'm so proud of you okay I know you guys are extra Hustlers and uh in in a good way hustle ground hustle and grind uh but talk to the people out there who think it can't be done anymore can it yeah yeah absolutely um I I did not go to college I barely needed out of high school um but I did we took FPU we LED four fpus and I'm taking the financial Coach master training right now um so there's there's definitely it can be done I never really planned on it or thought we would hit that Mark I just started doing the numbers and said to Kate like oh we were there yeah you guys drunk all the Kool-Aid man I mean thank you thank you I like it well and look at what it got you that's what's cool so hey very proud of you guys congratulations Heroes you did it I love talking to somebody who cleaned enough toilets that they never have to clean another toilet yeah isn't that great well it's just the hardware and and the the idea of hey I'm gonna go do a side hustle while we're doing real estate as well I mean all of it together was just phenomenal so well done guys Nathan in Northfield Minnesota what's your net worth hello Dave my net worth is 1.3 million cool how old are you 44 and my wife is 43. very good another young millionaire how much of this did you inherit um I inherited one thousand dollars last year when my grandmother died well that made a big difference yep okay let me ride down one thousand dollars all right so that's right uh what has been your household income best year and worse year since you all began working and begin life uh worst year was about 30 000 best year was 240 000. excellent excellent Now give me a little breakdown on the 1.3 how's it broken up all right on the 1.3 our house is about 500 uh we own a commercial lot that we have not put a building on yet at about a hundred thousand uh retirement accounts we have about three hundred thirty thousand um in business we're in construction and Landscaping so we have quite a bit of um trucks and equipments we've got about 250 000 of paid for equipment and then we have a hundred and twenty thousand of cash 529 emergency fund personal vehicles that type of stuff way to go excellent excellent so you own a construction and landscape business yep yep yep on the landscape side yeah got it awesome you got four-year degrees we do not uh we both went to the local technical school I went for a one-year program in meat cutting and my wife went to the landscape program they had and that was a two-year program at that time in meat cutting yes I know it took a year were you gonna do it were you gonna be a butcher what was the thing uh yes yeah I thought about doing that I worked at industry for about a year and then I decided I wanted to stick with construction yeah I bet you can field dress a deer oh absolutely yep I actually slaughtered my own beef about two weeks ago at my own property here so yep I love it what was your GPA or her GPA uh mine was 3.97 but again it's me cutting it's getting almost a 4.0 a little bit and then my wife I think it was like 3.7 she said all right very good okay cool cool congratulations man when did you look up and realize gosh we're millionaires um so we did our we came to our debt free scream when you were at the old building that was in 2018. um so so this is two years ago like 2020 we became millionaires we were 42 and 41 and it was just kind of a progression after paying let's be honest after you pay your house off it happens fast after that yeah yeah because you got cash flow yep exactly you know we always say your most powerful wealth building tool is your income well when you pay your freaking house off you see that exactly yeah it's really legitimate so you guys are kind of baby steps millionaires in a sense you followed this stuff yes very much so yeah we took FPU originally and I believe was 2003 and then we taught Fu at our church from 2005 up to about 2020. just a couple of years ago and it was kind of we ran we ran out of students shall we said our church and we decided that was enough for a little while at least let it recoup for a few years and see if we pick it up again thank you thanks for leading the class and hey man you're a hero congratulations Nathan way to go Dad come 44 year old millionaires I love this so good it's a baby steps millionaires theme hour we're talking to real millionaires micro will love the meat cutter millionaire toy he will love it when I tell him that this is the Ramsay show [Music] thank you [Music] foreign [Music] [Applause] [Music] wealth here a lot and it is about changing your family tree it's about leaving a legacy but it's also about giving like no one else and that's a big part of this money message that you want to be able to win with money obviously for your presence and for your future self and family but also to help others so there was a fun story that we came across and there was a waiter Jordan in at I guess the restaurant is Charleston's in West Omaha and he came in for work and heard that he'd be serving a party of 18 people on his March 7th shift and he greeted it with a very upbeat attitude because he said he likes to wait on large parties because they usually like to have fun and he enjoys it well the group turned out to have it pop singer Jason Derulo I feel like a boomer I don't know who he I feel so out of touch I'm not sure who he is but I'm sure you just have to give up your cool cards she is great he's amazing she is amazing because he left a tip at the very end uh and he was a great you know the whole uh 18 of his friends and him were wonderful and pleasant because the waiter Jordan was talking about just how kind they were and great and so at the end of the night he went and saw that Jason the pop singer left a five thousand dollar tip to this college student Jordan their waiter and his tuition was due the next week you just gave the best punchline I'm sorry you you did the great job he did a great job with a punch that was the sweetest part of the whole story his tuition was due like the next day and the five thousand dollars covered it so there you go there you go [Laughter] that's like oh I'll tell the punchline of the joke hey there you go uh yeah I mean that's why we work that is awesome that's why we work that's why we work that's why you want to get here so that you can have that moment uh he posted about it and apparently um Jason Derulo posted back jerulo oh yeah and um keep reading I threw my paper yeah so you have to find your paper you threw it on the floor but um but yeah he posted on Tic Tac I mean Tick Tock um and that was uh that was pretty cool that's pretty cool that's fun so you know the mythology is that all wealth is inherited the mythology is that rich people are all Crooks have you heard that one the percentage of rich people that are Crooks is about the same percentage of poor people that are Crooks there's just some people that are Crooks but it really doesn't have anything to do with the money you don't get money by being crooked and keep it long term I mean that that's the dumbest set of assumptions because if you deal with someone and they're a thief you deal with someone and they don't have integrity and they steal from you you deal with someone you go to the car mechanic he doesn't fix your car and charges you and didn't change out any parts because he's a crook you don't go back so you don't get repeat business when you're a crook you have to start over every time so being a crook is much more work than creating a good quality service and people come back it's a lot more work to be a crook because you got to get all new clients all the time you gotta get all new victims all the time so when you people out there when you hear people say I'll rich people are Crooks see this all they are is their victim mentality and they're dealing with two evil spirits called jealousy and envy jealousy is I want what you have Envy is I don't even want you to have it there's I mean not only do I want what you have but I don't even want you to have what you have that's envy and that's what's going around the culture right now that's out of control all millionaires are entertainers they're Jason Derulo they're all uh pop stars they're all country music stars or basketball or football stars or whatever it's less than one person of millionaires are household names celebrities Sports oh I know who Jason is I know who he is I get my cool card back let me see it oh yeah okay sorry Vega yep yeah okay cool until I know who he is oh I feel better about my my age I'm worried about you I thought you were going downhill there with current events and you'd lost the punch line I mean it's been a bad day for you you took the punchline from me I didn't lose it all right and uh the other thing you the other uh mythology about millionaires is that they're all they're all Geniuses they're all 4.2 oh yeah you know they're like rocket surgeons or something I mean uh you know this kind of stuff they're they're not brain surgeons and they're not rocket scientists either one right they're neat they're none of this the vast majority of millionaires have a 3.0 to a 3.5 GPA very few of them have a one point something you can't be stupid and become a millionaire you have to actually have to have some brain cells working but you do not have to be genius level okay you don't have to be brilliant 4.2 I never saw a 4.2 except on my you know when to fill up my car that's the only time I see 4.2 all right uh here we go let's go to uh Crystal uh in Olivia Minnesota Crystal net worth okay cool how old are you guys I'm 36 my husband is 37. and they're getting younger by the call okay cool and how much of the 1.3 did you guys inherit zero okay and give me a little breakdown on the 1.3 what's the categories of it uh we have about 125 000 in cash 755 000 in retire ment our house is worth 220 000 and we own that um and then 200 000 in other assets let me just make sure everybody in America heard that you live as a millionaire in a 220 000 house I do yes we actually bought it for 78 000. yeah that's that's pretty typical by the way but this idea that oh my God if I don't have a four hundred thousand dollar eight hundred thousand dollar nine hundred thousand dollar house oh my God that's not you no no so what was your all's best year household income since you've been working in worst year uh worst year old we got married um combined income is about 90 000. um our highest year was about 250 000. cool what do you all do for a living my husband is a network administrator for a local co-op and I am a nurse practitioner who just quit Corporate America and I'm going to start my own Clinic I like it love you love it all right what was your uh you obviously have a Nursing degree what was your GPA uh so my undergrad was 3.2 and my graduate degree was 4.0 okay nice and uh your network engineer husband did he get a four-year degree uh he got a chair agree um and he had he had a 3.0 GPA okay there we go all right you guys have done this very young how did you do it what's the key uh we actually followed all of your sets um to put it into perspective in 2015 we had a negative net worth of 125 000. we became everyday millionaires in June of 2021. wow we paid off 147 000 in 17 months that included our house I was taught spu twice um it's just really just learning about your principles it's it makes it pretty easy actually oh wow I'm gonna pay you for the commercial well done well done thank you baby steps millionaires I love it and that's a long road I mean it's uh we talk about it too it doesn't happen overnight yeah about eight years from a negative net worth to 1.3 but the diligence throughout that eight years I'm like it didn't happen in 24 months so so the the long game that you guys continue to play and we're diligent with the steps diligent with your money gets this result which is incredible absolutely incredible and as soon as we could I mean as soon as we got out of debt we tried to max out all of our retirement accounts as much as possible I got my Rachel Cruz wallet sitting right next to me yeah girl I'm so glad right yeah and it was always it was always just kind of like a it was kind of like a little goal right so our goal was debt three by thirty three and we paid off our house three days before my husband's 33rd birthday um and then I said we're gonna be millionaires by 35 and he's like no we're not going to be able to make it and I was like No we're going to um and by the time I turned 35 we were millionaires yeah incredible 35 and 36 years old you're a hero girl so proud of you for taking control of your life improving to people all across America 22 million people just heard you say this story that's pretty cool and by the way her story is real in case you're wondering this is a baby steps Millionaire's theme hour [Music] foreign [Music] but someone will say you have faith and I have Works show me your faith apart from your works and I will show you my faith by my works Dale Carnegie said an action breeds doubt and fear action reads confidence and courage if you want to conquer fear Do not sit home and think about it go out and get busy like it it'll work for me it's a millionaire baby steps millionaires theme hour paying off debt saving and investing is smart but there's one key to winning with money that people Overlook and that's protecting your finances there's 10 kinds of insurance coverage you might need if you want to take the uh coverage checkup tool and use it it's completely free and we'll show you what you need by importance and connect you with a Ramsey trusted insurance provider to help you get this insurance in place if you want it's all free it takes about five minutes so go to ramseysolutions.com checkup ramseysolutions.com checkup Eric is in Augusta Georgia Eric what's your net worth my net worth is uh 1.8 million cool how old are you I'm 32. my wife's 28. every every call they get younger okay this is ridiculous they're gonna have an 18 year old dominion okay and uh how much of the 1.8 did you inherit so we inherited it we didn't inherit any money zero okay zero and uh break your 1.8 down by category what give me a little breakdown on it only one million is in real estate um primary home as well as some rental real estate um about 600 is in mutual funds Roth IRA some company stock as well as some I bonds and then 150 and 401K good for you give me your best year household income working Lifetime and worst year so worst year when we came out we were together making about 150. we did do a few years of travel nursing so we uh we're up to about 450 at one point in time um so it's kind of drastic uh spread there but then you're back down to something now about 300 or what right around the 300 range now we just moved back home we got a baby due coming up so we're gonna decided to come home and get settled down are you both nurses we got both nurses yeah okay cool so you got nursing degrees what was your GPA and your nursing degrees uh my GPA was around a three two three three my wife's was a high of 3.9 okay cool cool so uh travel nursing uh coming off of a pandemic were you guys in the middle of that travel nursing uh we were doing travel nursing about a year before uh covet hit and then we traveled through it and um yeah up until about a month or two ago was that scary it was um yeah it was it was different it was a very different world in the hospital during that period of time um for sure uh were you all scared we were not personally yeah um but I know every a lot of people around us were we've traveled all throughout the southeast so different areas respond very differently to covid during that time so well thanks for y'all's work during that time I know healthcare workers it was it was a lot a lot on you guys so thank you yeah absolutely yeah it was uh we went out uh the Ramsey team one morning and right in the middle all of that and went up to the local hospital there's a gas station in front and pumped gas for all of them bought her by a tank of gas and had scrubs on and man you could see the strain in their eyes yeah that period was a lot during those few years was a lot of things seen that a lot of people even in the field have an experience so it was hard during those periods yeah a couple years yeah it's like a vacation now compared yeah that's right yes definitely and a new baby on the way congratulations maybe do two days from now oh my God enjoy your sleep tonight so what do you uh yeah what do you uh what do you tell people can they still do it today yes definitely can still do today um things are a little bit more expensive so I think it's a little bit harder to get there but you know hard work pays off so if you if you're motivated by it and you can you can definitely still get there today proud of you hero in a bunch of different ways Your Heroes thank you thank you very much all right Laura is in Tampa Lara your net worth a 34 million well look at that good for you how old are you Laura I am 49 years old good for you okay give me a little breakdown I'm curious that's a great net worth so I've got uh 14 million in real estate assets and then uh 20 million in my business asset if I sold my business today gotcha what kind of business have you got I'm a franchisor of a disaster restoration concept ah gotcha okay excellent excellent how much of this did you inherit Euro wow dug it out with your fingers huh literally yeah I I started out as a 28 000 a year police officer um 20 some years ago and then decided uh poverty wasn't for me so I started my company when I was 31 years old dang I love that I just decided I don't like poverty so I'm not going to do it I'm not going to do it that's really what it is it's a choice it really is well apparently yeah all right so the real estate guy came from the fact that you made so much money in the business yeah correct and then you made more money on the real estate after buying it yeah and I kept a bunch of rentals I got about 13 or 14 rentals right now and uh if the business went down the tubes tomorrow I could live off the rentals forever yeah 14 million I think you could yeah yeah yeah unless 12 million's your house I don't know but yeah what's your personal residence worth uh it's worth about 1.5 and I owe about 450 000 on it why pay it off okay and the uh yeah and the uh uh uh do you have another house you have a do you have a toy house a vacation or something Beach or cat Mountain I don't all Investments no toy houses okay you need to get one of those too okay yeah I'm working on it all right so what's your dream on that uh how a mountain or a beach or a lake or what a mountain I'm at the beach right now so I you know we're living in Florida so Mountain would be be the way to go for me yeah it'd be perfect like Highlands North Carolina or something yeah yes exactly exactly how did you grow up Laura was poverty part of your story a little bit middle class but uh once I got to college I was actually on food stamps um just to get through college uh my loans didn't cover enough uh to pay my living and my school my books all that stuff so I had a couple jobs and I was on food stamps for a while so it's it's very surreal to be in the position I'm in now I take it from the language you're using that you're single yes okay always single uh no I'm divorced okay how long ago uh four or five years oh wow fairly recent okay all right so this this all survived that well I have a great lawyer apparently yeah and uh good prenups yeah good good okay all right because you are you are you're you're a warrior I mean you're an Amazon woman for sure it's amazing I'm I'm you're impressive I love it thank you best best net worth call in uh highest net worth in the last several of these shows uh we had one we had one that was 55 million one time and um oh wow you know that kind of stuff but the guy owned a bunch of restaurants and uh we've had a few others but you you're a rock star I mean you're amazing you can't say Rockstar anymore after that dead gun Super Bowl commercial but the uh but yeah you're amazing thank you you're you're incredible all right tell uh uh your 49 year old lady that's divorced and you're worth 34 million dollars tell a 24 year old lady out there who's struggling and scared that she can do it oh absolutely I in my opinion I know other people probably disagree with me I think it's easier now than it was back then just because of the internet and all of the ability for affiliate marketing businesses and there's just so much more opportunity now than there was when I was first starting I agree it is probably the best time in the history of the world I couldn't agree yeah start a business and run a business and take a service to Market a product to Market this serves people and you the wealth that can be gotten because of that in the process of helping people it's amazing I mean selling books on the Internet is a lot easier than selling them through bookstores oh absolutely you know it's just it's a lot easier because sometimes bookstores are stupid you know yeah you know it's just you know it's just it's it's exactly it's just a it's a wonderful time I agree love that advice and I love that encouragement great job Laura Laura you're amazing thank you for calling in a baby steps millionaires female or that puts a little icing on the cake with Miss Laura I know that was a great call to end it well done any uh any any other questions out there I think we just answered them all you can do it you can do it you're not a victim Lara wasn't a victim never was that woman a victim this there's the Ramsay show we'll be back with you before you know it in the meantime remember there's ultimately only one way to financial peace and that's to walk daily with the Prince of Peace Christ Jesus hey it's Rachel Cruz if you like what you heard in this episode and want to know more about getting started on the Ramsay baby steps go to ramseysolutions.com and click the get started button we'll help you figure out the best next step for you based on your specific situation that's ramseysolutions.com and click get started [Music]

Channel: The Ramsey Show

Views: 434,902

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: G9qSLKiZU9c

Length: 122min 40sec (7360 seconds)

Published: Wed Mar 22 2023