This Is The Proven Get Rich "Quick" Plan

the ramsay show you can be intentional about your character you can have money and a career you are the hero in your story [Music] live from the headquarters of ramsay solutions broadcasting from the dollar car rental studios it's the ramsey show where debt is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice i'm dave ramsey your host thank you for joining us america dr john deloney ramsey personality host of the dr john daloni show big time podcast these days is my co-host open phones here as we talk about your life he can do that and i'll interject and your money i can do that and sometimes he interjects the phone number triple eight eight two five five two two five that's triple eight eight two five five two two nathaniel's in raleigh north carolina hi nathaniel how are you hey dave uh thanks for taking my call um absolutely i've gotten a lot of we our family's gotten a lot of benefits out of your baby steps so thank you we're on babies up too way to go my question is um we have been dependent on our parents i'm married i have three children but we've been to parent dependent on our parents basically the whole time we've been married about five years we've recently come into a larger sum of money from the stimulus checks and tax refunds stuff like that and we've been trying to live independently from them and paying off our debts now but the question i'm wondering is should i just take all the money we have every dollar put it on all our debt and get help now or try to stave off their health as long as possible and be independent with the high probability that in about a year we're probably going to need to ask for help again why do you need so much help man what what is it about your life that you can't make it because you went from help from mom and dad then you went from help from the government right right what's what's the problem um so the main problem there's a couple of things my wife is chronically ill okay um she's got like she had a botched scoliosis surgery as a child and has a lot of chronic pain so we spend a lot of money on physical therapists and rehabilitation and trying to figure that piece of the puzzle out okay and and so that that takes up a lot of of the money and then it's been some you know help and similar to that she has some dietary issues that help with her condition with some because you have some muscle elasticity and inflammation issues so that runs up our bill a fair amount and so and also i think there's been a couple improved career jumps that i had i had from liberal arts degree to easy think tank to um corporate philanthropy to teacher to now accountant so that that too so trying to figure that out and i think i probably made more jumps than i needed to so that's that's why we've needed help in the past so what do you make i make about 57 000 a year okay and what does your wife what do you spend on your wife's medical care um last month when we were doing our budget this the first may was our first budgeted month um it was probably over 500 dollars and then we also had to pay for frenectomy for our infant our third child and that was like 600 on top of that yeah but that's that's only one time thing your wife says more your wife is right your wife's situation is more chronic and so yeah and the uh food situation for your wife costs an extra how much i'd say we spend about we spent close to twenty five hundred dollars on groceries this month that's that's ex that's an extraordinary amount of money and you're talking to a guy that is so obnoxious about what i put in my body we overspend at our house and you have almost tripled what i spend right obnoxious to the point that my wife rolls her eyes at me right something isn't clicking here so you so you're just saying i need to reduce the food bill i mean and that's what we're doing right now with i mean we're trying to do the budget and making sure that that's true i think there's a lot i i i listen number one neither one of us are uh saying that we don't that we would we would not suggest that you don't take good care of your wife right ever okay right um however sometimes when you're dealing with chronic pain and chronic issues uh the emotions around that can sometimes justify a different level of stupidity and that's what we're calling out right so i mean 500 bucks a month did not scare me on medical that's six thousand dollars a year you've got a chronic situation that's very possible okay i can that one i can i can chew on and making fifty seven thousand dollars a year plus picking up some ot here or there or doing some other stuff doing some tax returns or something if you're an accountant to pick up some extra money you you can we can handle that with three kids you can make progress and live on sixty thousand dollars a year and without your parents helping without the government's help okay now the 2500 food bill though something's really screwed up there you're going to fix that and still figure out a way to feed her food that does not cause her issues okay so it's really about just attacking things so i guess then the other question is like to that point is should it really just be really try not to get help from our parents i think it's really curious that you're getting help from your parents if you make 60 000 a year and have three kids okay and i want you to flip the question how much debt do you have uh well so i have about fifty six thousand dollars in student debt we paid off a credit card with the money that we got um and then but now i've been thinking about it my wife has a loan that her parents said they would pay but it's in her name that i do not know the amount of that i'm guessing is about twenty thousand dollars how much you owe in your cars uh nothing nothing we our cars are gonna guess okay any other big debt you're leaving out of this discussion so far no we're on we're we're renting right now but we're renting more in a more expensive place so much i would like 1900 a little rich okay so let me tell you what's running through my head i'll just share openly and this is how i'm kind of making some of these judgment calls and then you can go make them because you're obviously a sharp guy okay you have three kids and you make almost exactly the average household income in america and the average household in america has 2.5 kids so i mean you are like average average average average money-wise okay and so you ought to be able to live on that that's what's running through my head now you mix in there you got some debt and you which most people do and we're going to help you get out of that and you mix in there your wife's medical issues and that puts an extra strain on it but it does not break the camel's back uh so yeah you need to get on top of this and and you guys need to cut your freaking lifestyles and stay out of restaurants and you're not going on vacation until you get some of this stuff straightened up but that's everybody that's not just you wherever right yeah we don't eat out just because my wife can't okay you know yeah that makes sense that makes sense and but here's the thing when you have this much physical pain in the family chronic pain it begins to affect all decision making and that's where i was going to aim to he hit his we got like a sliver into his life where i'm going from job to job to job to job man when home is hard and someone that you love is in pain and hurting man it's easy to go chasing yeah happiness enjoyed other places well and um you're looking for the one thing that's right you're looking for a silver bullet yeah i just i could just get that one thing if i could just get that one thing i'm gonna try this i'm gonna try if i could just get that one thing and and and that's a normal thing and it's a type of desperation and every time i get desperate right after that i'm stupid a hundred percent of the time and so um you know i think you settle in on this job you look for some stuff you can do at home after everybody's asleep do it a lot of stuff and you make some extra money and you tighten up this budget and you begin to get your hands around the emotional parts of managing through this pain as well as the financial parts and it'll be the first time in your life and it's time [Music] stop paying your overpriced wireless provider and switch to puretalk they use the same network as the larger providers for much less for just 30 dollars a month get unlimited talk text and six gigs of data with no contract the average family saves over 70 dollars a month by switching to pure talk just go to puretalk.com and enter the promo code ramsey to save 50 off your first month pure talk simply smarter wireless [Applause] [Music] [Applause] dr john dolone ramsey personality is my co-host today this is the ramsey show chris is in omaha nebraska hi chris welcome to the ramsey show gentlemen how you doing today thanks for having me absolutely how can we help so a couple years ago um we had our second child and uh during all the prenatal appointments and everything um some things got screwed up um on their end and we got billed for a fourteen hundred dollar doctor bill um and we went round and round between insurance and the doctor that apparently never got settled because we just got hit with uh collections agency for that fourteen hundred dollars um i talked to the lady at collections tried to negotiate for a lower amount or something and she said no we're not that kind of collections you have to pay at all looking for some guidance here i'm not that kind of girl yes you are yes you are that kind of girl oh my gosh what about what a load of crap okay so uh have you gone back to the dock yet um well actually we we've since moved that was when we lived i don't care if it's been a couple years i got phones there okay you hadn't called the doctor's office yet and go hey butts i'm getting a bill from you people that was part of the rigmarole between you know hey why isn't insurance covering this and why are we getting a bill that was part of the whole rigmarole a couple of years ago okay well let me let me let me kind of let's lay a foundation here all right sometimes including you people get the idea that because insurance is supposed to pay something i don't legally owe it you do so you have a bill with a doctor for x number of thousands and thousands of dollars and you owe 100 of that bill you are liable for it you're the consumer of that service you owe the bill you however purchased from a third party insurance that is supposed to pay some of the doctor bill that you owe if they do not pay it it does not remove you from liability you owe the doctor bill and so since insurance has not paid this if it's a valid bill you owe it now what you do can do is go back and shoot through their butt and go why didn't you people run this through insurance properly which you've already done once why didn't they fix it then i'm asking you why didn't they fix it then oh gotcha so they said well we did run it through insurance properly but the insurance didn't get the referral and the right paperwork in time so that insurance said well we can't backdate it so you know we're not paying so the doctor did not submit it to the insurance company properly uh yes okay then i'm chewing their butt and saying guys you need to write this off instead of holding me to it because you didn't do your job okay and that's the conversation you should have had back then and now you get to have now and they get to pull it back out of collections uh or you get on the dock and you finally go okay because but you need to start with the premise chris that you do owe the money legally sure and you can't go before the judge if you get sued and go well insurance is supposed to pay it because he's just going to laugh and go insurance saying my problem dude you have a contract with the doctor the contract's broken because you can pay the bill now now however the doctor's office part of the service they're supposed to provide you as well as the labor and delivery is to take care of insurance paperwork in the proper order that way they get their freaking money and since they didn't do that i would challenge them that this is their problem it's not legally their problem it's morally and business-wise their problem does that make sense yes sir yeah legally if they don't file any paperwork they can come after you for all of the bill they can just throw up their hands and go we're totally incompetent we're not filing nothing and we're gonna own chris okay they can do that legally but it's it's a horrible way to run a doctor's office it's a pr bad practice management and you're gonna tell everybody you know not to go everybody over there so uh yeah i'm gonna call the office administrator and have a discussion with them i mean calmly and kindly but firmly go guys this is on you it was your lack of competence and you should not be trying to bill us for something as you didn't file the insurance paperwork part of the service you provide as well as labor and delivery is to take care of filing the prop paperwork in prop proper and timely manner and you did not do that and now you turn it over to collections and these bozos who says she's not a girl like that and she is coming after me it's ridiculous and so that's how you handle it now at the end of the day you're going to end up settling this with the doctor's office hopefully for pennies on the dollar so get ready to write a 500 check part of that's on you because you didn't settle this back when it was hot when the deal's hot when there's a problem you can't just walk away and go i wish it was okay it's always going to come out of the closet later and get you i'm right in the middle of a dealing with this exact same thing and with the bill and um it's frustrating and you got to continue to make that phone call well here's a funny one so sharon was at rachel's uh first book tour party launch party and i'm in the truck heading to the airport and i get a call and sharon passed out and so she just had a blood iron or something i mean it's five years ago and lobe iron or something and was excited and everything or whatever and and so they load her up in an ambulance and take her to the dock and i go down the emergency room she's okay she's embarrassed she's like i'm all right am i right am i right okay so i never thought anything else about it again so i started getting these phone calls for collection for a bill in collections me somebody's calling me and i'm going well you got this is this is absolutely bull crap there's no possible way i have a bill out in collection that's just ridiculous and so i'm just like i'm just hanging up on the guy you know whatever i'm talking to him and so finally the guy just they just they're wearing me out and so i turned it over i gave it to our attorney our staff legal counsel here i said hey man call these guys and straighten this out tell them i'm getting ready own me a little collection agency because i obviously do not owe an outstanding bill that's gone to collections is ridiculous well he digs around fight figure out his ambulance bill oh goodness i did owe the money uh the 400 ambulance bill and i never got a bill okay they never billed me they just jumped it in collections and then this little idiot's calling me with a headset on you know and this kind of stuff so i i did owe the bill i ended up having to pay it but but uh i'm just ignoring the guy just and i wasn't because i i just thought it was bogus i'm the i'm in that you cannot ignore it i i even tried it you cannot ignore it it comes back chris and then they start tacking fees on it well they're trying yeah that didn't work either i i i looked at them i went to the emergency room on christmas day with a poison ivy uh i it's a whole other no i don't want nobody you don't worry but listen how do you get poison ivy in the middle winner no don't tell me i'm not gonna tell you um it's a way that only delaney can yeah but i looked in the eye and said if i pay you cash can we shake hands walk out and their eyes lit up you're gonna pay us cash in a rural er absolutely what you got and i told them a number and i said dave i looked at this this human being it was during cove through the through an ipad and i said you promised me i don't need any more money we're gonna shake hands and walk out of here. and she said absolutely i'm asking one more time and you're recording this right she said yep we shook hands it was good it was an obnoxious amount of money but it's my own downfall for getting poison ivy in december that's what i get i went home got it i got a bill and it was a big one a big bill and i said what in the world they said well that was for the hospital the doctor has a different charge and i said that's like me going to burger king and getting a number two combo and then three months later the fry guy sends me a bill at my house that's part of the package i thought the doctor was the key part of the emergency room service evidently not and so now i've got this do i want to lose sleep and go to war over 200 bucks or nope but kind of i do dave well yeah i do i know you you want to but i'm just saying do you want to so the uh i get the want to part but the uh here's the thing it turns out that you can be in the medical industry and be horrible at business practices and math why apparently i mean because they've survived that way for decades now i mean every one of you listening out there has a horror story with some stupid butt medical bill everybody does i mean i actually was auditing a customer who's about to go bankrupt one time and they got charged 46 dollars a piece for advil [Music] 46 dollars per tablet uh i can't make this crap i love america this is the ramsey show [Music] [Music] dr john deloney ramsey personality is my co-host in the lobby of ramsey solutions on the debt free stage barry and amber are with us hey guys how are you good good how are you better than i deserve welcome where do you live we live right here in nashville oh nashville my gosh we have a nashville debt free screen we haven't had that i don't know when that's awesome so you just like drove like from your neighborhood wow very cool so how much have you paid off it is just over 78 thousand dollars very cool and your range of income during or that how long did that take that's okay uh we took 30 months all right and your range of income during that two and a half years it started at 95 and ended at 115. yep very good what do you guys do for a living i am a erp director and i am a substitute teacher at our local elementary school cool which school uh harpist valley elementary oh yeah dogs oh hound dogs that's famous famous yes the harpeth valley pta i've never ever heard of a school with that cool of a mascot go hound dogs i love it yeah gin you see riley there's a song if you just if you were old enough old-time country but yeah that's it that's cool very cool y'all i love it so how much debt or the 78 000 what kind of debt was that so it was a mix like most we had medical that we started with and then auto and credit cards and lastly my student loan so you're kind of normal very normal yep how long you guys have been married 15 years 15 years they're looking at each other to confirm this conversation yeah nobody's in trouble but we're both checking okay you guys pulled that first consonant to make sure yeah it's not the same number so uh what happened two and a half years ago we had a bit of a breakdown yep yep there was no more bank transfers on our credit cards that were available and the money wasn't increasing like we you know had hoped and we had to make a change so we just sat down and there wasn't too much month left at the end of the money yeah yeah it was pretty devastating that's an emotional night it it was it really was it was a very uncomfortable conversation that was ready to be had it's the ultimate oh crap moment so it's been building and building and building and building and then you just kind of hit the wall and you go uh oh yeah we went from a double income um to one oh and so um that didn't help either and we continue to live in our same pace and you know you can only go so far yeah so amber when you when dave just asked you that you still remember that night like it was i do five minutes ago it's still all over you yeah still sitting on the bed tell us what happened and we had this conversation and you know basically what you said like there wasn't enough money at the end of the month and we had the are you going to go back to work like double our income but day care or child care here in nashville is exorbitant and i said financially that wouldn't make sense and so luckily they were at the age where they were both getting ready to be in school and i said well i can start subbing and i hit the ground running and that you know with a budget the budget helped a lot yeah so but you changed your ways that night you did more than just pick up a job you said okay so what you you like i suddenly remember dave ramsey lived in nashville or what was what happened i mean i have been telling my husband about you for years uh-oh and i was doing the money and i was like well if you don't want to do this like then you do the money oh and he's like i could do this oh yeah until he couldn't and i was like see like it's tough so it was tough yeah so then so then we continued for a couple of years just i'm saying it that that night sitting on the bed okay i'm gonna start subbing yeah and you said all right i'm gonna figure out how to do this because the way we've been doing it's not working enrolled in financial pieces okay that's what i was trying to figure out where you got new information that changed that's yeah so you jumped into a financial peace class we did okay we did and then when that was finished there she is third lady lily um i ended up teaching one myself oh wow i wanted to stay accountable yeah and so he watched the kids and i went and taught the class and 30 months later we were done 30 long months that's pretty cool because you were you were popping like a couple grand a month on this we were over 2500 every little bit we could get our hands on yeah you were hitting it hard yep and we cut out a lot of stuff a lot of we made lifestyle changes to you know not go out to eat we made we did only just the basic um travel we told our friends we'll see you when you come to our house and we can cook you dinner and we can spend time together but yeah the but nashville for us i think was a blessing because we wouldn't have been able to do that back home like there's so much to do here that you don't need money for and so we just started doing all that and then covet hit and we literally couldn't go anywhere and spend money so yeah that accelerates everything it really did it did yes as long as you're able to work yes and you were so yeah that's good news wow so you go from your throat is tight your stomach's in your throat uh that moment's like you said sitting on the bed yeah and uh sometimes it's sitting at the kitchen table and there's bills laying all over the table and you just kind of have a miniature breakdown there and you go from that to having a game plan and having hope how long did that transition take from freaked out to hopeful i would say it was in the first probably three months when we finished our fpu course we had paid off one of our biggest credit cards that the intro rate was about to expire and it was like just a few months into it seeing like we can do this you know we don't have to live miserably thinking we're okay anymore and so yeah it was it took a few months but you know seeing that debt paid off and that payment rolled to the next one we had an excel sheet and so seeing that snowball just get bigger and bigger and bigger was really motivating for us yeah absolutely yeah so what does it what does it feel like now we can breathe a lot less stress yeah um we dropped our car off this morning on our way here um for some work we don't know what's going on with it and it's okay it's just it's annoying right it's annoying we're going to pay for it out of our bank account and not have to worry about yeah where is it coming from it's not a it's not a thing anymore so barry what was it like you're a successful guy um you've got a beautiful family thank you what was it like having to look in the mirror with both hands on that on that armoire and say i'm not i'm not making it it was scary because it was one of those things where you know i wanted to be i didn't want to have any issues you know i didn't want to have to deal with them and i just thought that we could make it you know for so long and then after a while it just came to a point where we hit a wall yeah and once that wall hit it hit hard and um i knew we had to do something different and i just remember her bringing up dave a few years ago and i said you know what let's try something different let's inject something new into our lifestyle yeah and um and then go 110 on it yeah yeah cool well the beautiful thing about being sick and tired of being sick and tired you're ready to change your life absolutely and you reached that point where you said that's it i've had it yeah whatever we got to do and you kind of have to surrender it's like what have we got today what do we got to do and i've been there most people have been there in different areas of our lives but certainly money's a big one and and the debt thing okay i quit i'm going to quit trying to figure this out by myself what have i got to do yeah because what the way up what i've been doing sucks and uh man you just reached that point and it's not a matter call it name calling or something it's not a shaming thing it's just you it's just a reality and you're going this something's just got a freaking change here yeah yeah i think for us too real quickly was we actually went on your daughter's show oh um like roughly the first few months that we had started there she is and i remember listening to the podcast some months later and you had asked someone had called in and they're like i wonder what that couple from the christmas show if they stuck with that budget and how they're doing and we were telling some people here tell us like if they call us we gotta like be doing this like we can't have them call and say sojovers what's the status and we're like we quit halfway through we're failures yeah no that wouldn't work yeah yeah it's a different kind of accountability being on the rachel cruz show yeah let me put you on the spot well way to go you guys you brought the kiddos what are their names and ages we have joslyn who just turned eight recently and jeffrey who's about to turn 12. great they're very nervous very cool they're gonna do great we got a copy of a legacy journey for you that's your next stage and one of the total money makeover for you to give away so 78 000 paid off in 30 months making 95 to 115 barry amber jeff and jocelyn count it down let's hear a debt-free scream ready three two one we're debt-free [Music] that's why i come down here every day awesome so cool this is the ramsay show [Music] dr john deloney ramsay personality is my co-host today you can join him on the dr john deloney show which is a massively popular podcast produced by the ramsey networks here at a uh call in at two ninety one eight 844-693-3291 four six nine three three two nine one or email and uh kelly will get back with you and set you up to be on the show uh email at ask john ramsey solutions dot com ask john ramsey solutions solutions.com lindsay is with us lindsay's in houston texas hi lindsay how are you doing well i'm excited to be on just a little bit nervous but thank you for having me well we're honored to have you um well i completed spu in 2017 and after doing so i paid off my car i've increased my savings and investments i don't have any other debt and i'm currently renting i am going back to school to get my phd and my school will be completely paid for through grants and graduate assistantships and i will also have a monthly stipend but that means i'll be on a fixed income so um and i'm also needing to move to august i mean to the area in august and so the rental rates are pretty high in college stations so i'm looking at purchasing my parents are offering they're being extremely generous and offering to help me buy a house they're actually also debt-free and went there to see you in 2014 to do their debt free screen cool so you're going to a m to get a phd in what uh educational psychology and then what are you going to do i want to teach at the college level where at a m i don't know how long does a phd program take i'll be there for three years don't buy a house okay that was my question okay because you listen a phd program i don't know anything about it i've only got one and you know i've got a phd in dunb but john's got a couple of them and i rumor is it that they're tough to get it's a lot of work the jobs after no no the getting of the degree the whole process that the dissertation the whole thing right yes yeah and then being an educational psychologist that's a yeah to get it to get a 10-year track job it's gonna be tough and you know that walking into it but the chances of you landing in college station and and working there after that degree are very very small i don't want you concentrating on home ownership i want you concentrating on the completion of the phd and then quickly moving to the place that gives you a job that's right okay and that was my question was with the short-term nature if it was smart to buy or not exactly it's college town it's college town and college towns are college towns uh you know they're going to go through a metamorphosis in the next five years because people are not going to college like they used to right so it's going to affect real estate in a small town like college station in a major way yeah okay okay yeah i do have one other question should i stop do i know it sounds silly but do i stop contributing to my roth ira since i'm going to be on such a sick system or do i try as best i can to continue that your stipend do you have to pay taxes on that is that a fi is that considered earned income it is yeah okay then you then you do have an earned income you can do a roth you can only do a roth though if you are guaranteed that you're not going to have any debt due to this education because i want you to i want you to invest in you before you invest in mutual funds right okay yeah i should not have everything should be um covered because i'm technically working as well for the university and that's paying for my school yeah and if that ended what would you do uh if then paying for me ended yeah i would have to get another job yeah okay and so you you you'd find another way to pay for you know i i don't mind if you if you stop your your retirement temporarily and pile up cash to complete this this education and not that you're necessarily gonna need the cash but if you end up with 15 or 20 000 bucks or 50 000 bucks or whatever in a savings account when you come out it's not going to kill you no that's that's your house down payment yeah right if wherever whatever you're going to live or you roll that over into your retirement once you get settled somewhere yeah you know that that's that's the process hey but that's man talk about you doing it right there's not that's an outstanding school it's an outstanding program one of my mentors graduated from that very program from that very school it is top notch and you get well and when you can get a fellowship like that and they pay you something you get through that debt free you you've won that's the touchdown that's outstanding touchdown aggies good for you reggie is with us reggie's in chattanooga hi reggie how are you hey thank you dave for taking my phone call sure the question i have for you sir is your investor pro smart investor pro one on your website look for some in my area found a handful of them one actually maybe maybe not a mile away from me what process do you use to find and endorse a small investor pro and is there a number that i can call with your company if i choose to use an investor with you okay well smart vista pros don't work for us they are independent financial advisors we vet them meaning we interview them and find out about them so that we feel good about endorsing them does that make sense okay got you and uh there's no one on there that we haven't spent extensive time vetting uh however they are humans and we are humans and sometimes we screw that up but not very often we've been doing it a long time i'm very proud to endorse the people that are smart vester pros and um 99.9 of the time we have zero issues with them so then it is on you to say okay dave ramsey the guy on the radio that i trust has said this is a guy that he trusts and i'm going to sit down and see if i share that trust you don't blindly go off of anyone's endorsement ever on anything but it's a good way to open a door just like if you your friend says hey this is a good movie and you go and the movie sucks well next time you don't take your friends movie advice right but the uh the same thing so or this guy every movie he's ever booked every book he's ever told me to read was a good book some his book reading endorsement is worthless you know that we've all got friends like that and i'm just your friend that way so you still sit down use your own freaking brain though and you interview two or three of them for your own sake and you decide uh does this person share my values do they i agree with everything dave ramsey says and i'm following the baby steps but this person doesn't seem to i'm not going with that one which by the way let us know that one and we'll cancel that one because we want to endorse people that are going to tell you to do the stuff that we do here uh and because so that you get a consistent experience does that make sense it does so that's one of the things i shouldn't see when i'm interviewing them that they are actually going through your baby steps correct they should know the stuff and they should not recommend something to you that is opposite of what you're hearing here that's that would otherwise the endorsement wouldn't make sense it wouldn't have integrity agreed yes yes i'm just trying to be sure what i should be seeing and what i should be hearing and and you should be looking for someone that has the heart of a teacher you should feel uh taught and coached not slimed yeah and there's a lot of sliming in the financial world a lot of sales in this financial world but if you feel like you got to go home and take a shower after you don't don't use them and reggie i'll tell you this it it is they are trained to to expect that you're going to be shopping around a close friend of mine who is a smart investor pro i didn't even know the smart investor pro until i started working here i said i need some help and he said i'm going to walk you through our how we do introductions but at the end of it you need to make sure you're comfortable with me and we might be great friends and not so great mixing this part of it up right so i feel completely at ease to walk in and let them know hey i'm shopping around i want to meet with a couple of people i'm interviewing three people and i'm gonna pick one they're not gonna get their feelings hurt no bring you on and you should do that with a real estate endorsed local provider too so you should do that any i mean you know these are people they're going to be teaching you and coaching you and making suggestions about your freaking money so yeah you need to be real comfortable with them and have interviewed more than one and don't blindly follow anything and so it always tickles me when someone writes this hate mail says you know i trusted you when you endorsed such and such and such and such heating and ear company and timbuk2 and i'm like yeah we checked them out they were good folks but you're also supposed to use your brain right you know in the process and if you're getting slimed and you go well dave said sliming is good no it's not that's not what dave says you know i mean it's just but you're supposed to also be grown-ups and i'm a grown-up when i take someone's endorsement and um and sometimes i don't take their endorsements seriously because i don't think that much of that person so you know that we all do that right that's what you're supposed to do so what we have here is trust and we do our best to be worthy of your trust uh but i can also promise you it is a freaking imperfect process oh my god [Laughter] james childs is our producer kelly daniels our associate producer and phone screener i'm dave ramsey your host and we'll be back [Music] have a friend or family member that needs a daily dose of ramsey advice in their life let them know about the ramsay call of the day podcast it's a quick hit of advice about life and money in under 10 minutes check out the ramsey call of the day podcast wherever you listen to podcasts [Music] this is the ramsay show [Music] you can be intentional about your character you can have money and a career you are the hero in your story live from the headquarters of ramsey solutions broadcasting from the dollar car rental studios it's the ramsey show where debt is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice dr john deloney ramsey personality is my co-host today he has the dr john deloney show where we he talks about all kinds of things like anxiety like boundaries like relationship issues turns out psychology has a lot to do with life and money that's the rumor because behavior and money oh well they're tied together man and so uh that makes him valuable to have around here and answer your questions about what's going on in your life open phones at triple eight eight two five five two two five if you wanna don't join the dr john dolone show ever you can send an email to ask john ramseysolutions.com jason's in houston texas hey jason how are you good how are you better than i deserve what's up so i run a wholesale trading business and so i have to spend around forty to fifty thousand dollars per month on inventory and so right now i know how you feel about this but right now i put it on a credit card and basically it gives me around two thousand dollars a month in cash back and so what i do is i just basically live off of the cash back and then all of my business income i just invest it and so i was trying to see what the pitfalls of this are i guess so yeah well these kinds of plans only work if everything goes perfect [Music] if your sales go down four months in a row you're freaking bankrupt right but i'm only buying i mean i'm 40 000 a month is only what you're buying right or no i'm buying based on what my customers order from me so it's like they order first and then i just drop ship the item to them yeah so then why then why are you having to borrow money i'm not doing it to borrow money i'm mainly just doing it because it's saving me two thousand dollars a month right now that's okay so they pay you they pay you and you can use their money to do the drop ship you don't need to do this yeah good don't do it anymore you're playing with snakes son you're gonna get bit okay no millionaire ever said i made all my money with cash back on credit cards you're screwing around with rattlesnakes and like it's a sport your risk meter is broken here's a better way to think jason what are they getting from you no company just gives money away for fun so why are they giving you two thousand dollars every month what are they getting from you right i guess that's my information that they get but they're also getting a long-term play with you they have their hooks in you dude because you've normalized this in your spirit and in your process listen here's the thing here's another example okay i used to how old are you 20 5 um 19. 19. okay um when i i was 22 years old i started buying real estate with nothing down and the rent i brought in was on each property was more than the payment but i was in debt up to my eyeballs on the properties and i did not perceive that as risk because the cash was flowing does that make sense and here's what i do that's called nothing down real estate you buy real estate with nothing down the bank finances 100 of it because you got a deal on it and it's the same kind of line of thinking that you're using and um uh here's what i learned 10 years later i knew i knew a whole bunch of guys they were 40 years old 50 years old 20 years old 30 years old that we're doing nothing down real estate a decade later let me tell you how many of them were not how many of them were still doing real estate zero we were all out of business because we were playing with snakes and we got bit so here's a plan you're obviously a great you obviously have a good business mind your risk meter is not functioning well you are not perceiving the risk that you are taking that's what i'm saying and i didn't either it is the beauty of youth however um you know this is you know this is the same i'm the same idiot that used to go over a piece of plywood on a bicycle that was propped up by six bricks and with no bike helmet and then wonder why you get all your teeth knocked out of your head you know i'm the same guy the beauty of youth is you do not perceive risk and it just looked like fun yes and it looked like what kind of how could this go wrong it can only be more awesome it could only be better more bricks if we get two thousand back let's try twice as much we'll get four thousand back well so here's what i said stop doing this man go back to simple old people way of thinking and pay for your business as it goes and then you will business your business will survive up and down and you will not get caught with the last man holding the beans and get your dead gum head taken off by these guys i want to lean into what you said about this being in your spirit because i was a executive officer i was a nerd in college no surprise and with the student government and a year i was a treasurer so i worked i ran everything through my private credit card and accumulated the miles and then i just got a check reimbursement every month and it worked great i got these miles over here or whatever the things were back then and i was it was no worse to wear the school was always going to pay me back it's when my transmission fell out of my 88 tursel easy hatchback which was a dope car by the way easy hatchback was a dope car it was not it was awful that was sarcastic it was like a big roller coaster okay yeah big roller skates pregnant rollers um so i had this check for 500 it was supposed to go to pay this thing off oh but i'm holding this thing i literally did transmission yeah and thus started well that's the you know this is what happens with a pyramid scheme that's right i was floating this one to pay for this one trying to get this financial jenga and it always comes crashing down it's financial jenga and but i'm the one that can beat it thus is the arrogance of youth and or just the arrogance period you don't have to be young to be arrogant but it helps and um and my mine caught me years later when i brought a human into the world right and it had piled and kicked and moved and punted and shifted and we can roll it over here the debt not the human that's right that's all that too but at some point you pay the piper and usually it just snowballs on you in the opposite direction well yeah because you do get um i'll use one of your terms a psychological term satiated yeah you get used to you know uh a way of living away if you hit the curve at 120 instead of 35 you get used to hitting the curve at 120. then when you hit it at 35 you feel like you're like you like you're crawling like who would do this because everybody knows you can make it at 120 until you until the tire blows that's right and and then you figure out why the stupid thing had a sign up that said 35 not 120. and you know when you go rolling over the embankment or there's a little bit of rain and that's that there's always these variables and so it's the best way to get rich quick is get rich slow it's the proven the data proves it that's the best way to do it because otherwise you have to do it over and over and over again i know this is the ramsay show [Music] what makes our show unique is that we genuinely care about our listeners we're intentional about choosing the best advertisers to recommend blinds.com is no exception they offer high quality window treatments at unbelievable prices and they make it simple to shop blinds shades and interior shutters with easy online ordering free shipping and a guaranteed perfect fit go to blinds.com and take advantage of this week's special savings [Music] [Applause] well summer's almost here but that does not mean you can take a vacation from your goals because you're a grown-up i know the motivation to stay in tents can be struggling this time of year especially when that beach trip is right in front of you don't do it and all the fun stuff listen you need to stay on track you're grown up you're not a child out for the summer okay i'm sorry but if you live like no one else later you can live and give like no one else it's about getting the small wins that lead to big results over time then you can vacate any freaking where you want any time you want and that's exactly what you do with ramsay plus not the vacate but the small wins ramsey plus membership gives you the best digital money courses financial peace university and the tools that you need to keep moving forward like every dollar lots of i mean it's a huge offering in there your goals are worth working for all year long stay motivated with a free trial ramsay plus text trial to 33 789 it's a free trial text trial two three three seven eight nine our question of the day comes from blinds.com find out for yourself why blinds.com is the number one online retailer of custom window coverings you get free samples free shipping and with the new promos they run all the time you save even more use the magic word the promo code ramsay and you'll get a deal all right today's question comes from travis in texas my wife and i have a lot of resentment towards her family because they are not supportive of her they didn't attend her college graduation and at the last minute they cancelled being at the dinner where i asked my wife to marry me recently we had a premature baby which resulted in extended hospital stays and her family never visited this also happens around holidays and birthdays my wife is more hurt than matt but i hate the way they treat her how do we move forward with her family i think you move forward without her family i think her family's sending you a lot of really clear signals that they don't want a lot to do with you guys and it's everyone i know has been has struggled with this in some form or fashion day which is i had this picture of what i thought it was gonna look like when i got married and i thought our celebrations would look like this and they always had two sets of grandparents there and i always thought it would look like this and they would then it turns out it doesn't happen that way and um i think at some point you have to call what is what is and decide are we going to have a relationship on their terms and are we going to move on with our lives mourn it be sad be broken hearted about it and then start controlling we can control in this deal what do you think well that's probably one of the deepest hurts that's out there there is no and it hurt and it is a um and travis i wish i could tell you that it wasn't um that it was very uncommon but it's not it's more common than uncommon what's uncommon is where everybody gets along remember you told when i first met you we talked about your kids and you said i'm friends with all of my in-laws and i looked at you and said you know i wear that twice in my life ever yeah well you know it's also a decision that's right uh before both sets right you know and it really in in our case it wasn't hard because they're actually wonderful people and they're fun and you know like you know denise's uh husband's parents whittemores we go out for hamburgers with them without the kids right we like them yeah you know they're like friends real friends and so but we made the decision to do that rather than go why are they over there standing over here why are you spending time with him and sunday afternoons are always over there and you know because that's what people do is that bull crap yeah and no wonder you know and so shut up you know yeah just like don't be so dadgum needy but there's nothing that that's the thing and most that's what most people do and stuff like that and something happened here like that it sounds like they don't like travis i was actually thinking that they don't like you man that's what it sounds like but who knows they don't approve of this marriage for some reason or another that's what it looks like and i don't know what that is it could be something sick and bad yeah or it could be that you know whatever um but one of the core principles you can't make them travis you can't make them happy no so all you can do is just love your wife and hug her because she's hurting because the very people that she should be connected to for the rest of her life are not functional have chosen not to connect with her they're not functional so one of the things i is a core principle of mine is behavior is a language right and so what they are look at what they are telling you we did this not with their mouths but with their actions their actions y'all are not a priority to us we don't really care a lot about this new little baby that's cool we don't want to spend time with all the holidays we don't really want to show up at your graduation these marker moments in your life they are opting out of they are telling you all you need to know about the status of this relationship and so what you all need to do is spend some time grieving it you said it it hurts bad because she's going to want to know for the rest of her life what did i do yeah that my mom and dad would do or even if you know if you you know they go okay they i married travis and they told me not to and they told me they weren't going anything she made a choice and she said yeah but but she never dreamed they'd follow through on it that's right and they did so you got to grieve it and then you got to own what comes next right yeah and it's heartbreaking man and then hey when you're married to this provide some space for your wife to hurt every christmas and it may not be a big a big dramatic hurt but understand that every year this is gonna hurt again right that doesn't go away it just is every mother's day every father's day it hurts man and so provide some space don't say things like oh you gotta get over this it hurts it just stinks when your mom says you know what i'd rather sit on the couch then come see and don't um and i i also i mean you do what you want to do i'm just being an old guy here talking but um i i i would say if she wants to reach out to them that's fine uh don't tell her not to do that absolutely not if she wants to send her mom flowers on mother's day do it but also help her remember to keep her expectations low the secret to happiness is low expectations you are providing a gift because it's the right thing to do and not because you're hoping for an roi on yeah right but the there's not gonna you know their track record you should send your mom flowers but their track record is you're not gonna hear from her and you should send flash because it's right and it's a way to honor or not but don't don't don't be all upset when they don't call because they're probably not gonna call that's right so but let's do it anyway you're gonna send a graduation card because you it's the right respect respectful thing they're not gonna come right right and if i do what a bonus with a gift and if they don't it's it's what we knew was headed this way i hate that people live in this this is so much more common than we know yeah it's i've got you know i i've often said sometimes the uh the hardest stage of parenting is to parent adult kids yeah your kids as adults because you don't get to parent them anymore right they have to they get to do what they want to do you just gotta love uh and so you have to treat them like grown friends or something and it's very weird and strange and the number of friends that i have that are disconnected from their grown kids after they got married and something went sideways is astronomical so who's help me with this dave because i've wrestled with this whose responsibility is it to mend that is it the part of me says it's it's the parents whose responsibility is it to men to any relationship it cannot be one way that's right everybody can't be one way yeah you can go over men men men men men men and they look at you like you're pulling the stress out and they they keep shooting you in the face with a bazooka then you know you can't mend that because you know that just is that's just neediness and enabling right and codependency out your ears yeah uh but on on the other hand you know if anybody does throw a um you know throw a rope over the fence grab a hold of it and let's see if we can pull together i have sat with a lot of people who had loved what's passed away i've never ever heard somebody say you know we just told each other we loved each other too much i said i said i was sorry too much i've never heard that yeah i've only ever heard man i should've but if they just look at you and go you're an idiot and you know i i don't want anything to do with you screw you yeah i don't care how many times you say you're sorry i don't care how many times you say i love you i don't care how many times you call me i don't care what you do you're just you know you're out of my life hello that's that's like you know she said she doesn't want to go out with you son there you go so you quit walking into traffic and getting run over right at some point you're doing that to yourself right yeah and you know it's weird when it's uh in his case or her case her parents that's what's you would think they would be the grown-ups but they're often not a lot of times they don't have the emotional tools too who knows how screwed up they were from the generation before they may have to be doing the best they can with what they got i don't know i mean you're just dealing you're dealing with messed up human beings for sure and wait what travis can control here is his dignity continue to treat them with honor and move on with your life man yes that's very important to not uh don't start angry as you are at them for hurting your wife that you love you still need to not uh condone their behavior but honor their position fire plus fire ends up in bodies yeah almost every bit of the time yeah it doesn't do any good even though it's really really tempting oh man wow thanks for the question man so it's a solid heartbreak it's a solid one it's everywhere though brother and i wish it wasn't at your place grieve it move on man this is the ramsay show [Music] [Music] [Music] hey folks i got a great option to help you pay for your education the army national guard the army national guard believes you are the next greatest generation because you have proven that even in adversity that you have what it takes to succeed that's why they offer benefits like tuition assistance career training and a paycheck to help you avoid debt no matter what your goals are the army national guard can help you get there visit nationalguard.com to find out more [Music] thank you [Music] [Music] dr john deloney ramsey personality is my co-host today here on the ramsey show open phones at triple eight eight two five five two two five in the lobby of ramsey solutions on the debt free stage kevin and lydia are with us hey guys how are you hey we are psych dave awesome so good to have you guys thank you honored to have you where do you live we are from just south of knoxville in a little town called maryville tennessee no yes sir did you know i was born in marvel we absolutely did i love them do they have a billboard out there homer no they don't well mervill is a wonderful town if you're a yankee it's maryville but it's marvel trust me and so i've learned that the hard way yeah way to go guys it's honored to have you guys so how much debt did you pay off we paid off two hundred and fifteen thousand dollars love it and uh how long did this take you uh about six years okay and your range of income during that time starting was 80 000 uh ending was 125. wow look at you way to go guys so i'm gonna guess that you paid off your house we absolutely did i'm looking at weird people absolutely no house payment or anything how old are you two uh mid-thirties i'm i'm 37 kevin's 35 and you have a paid for house what's his house worth 320. wow look at you [Laughter] i love it that is so freaking cool and what am right on track i mean you fit all the numbers that we typically see very well done so tell us the story what in the world happened well you know what the story started in maryville you were the commencement speaker at our alma mater in 2009. so you went to marvel college we went to maryville college yeah i did yeah and i got an honorary doctorate you do i'm an honorary something or other doctor this is dr ramsey yeah who knew that trust me he's going to make us all a little cocky really cool kevin olivia that was pretty cool because my my great grandmother started the drama department there wow and uh back in uh august 6 i believe it was something like that and uh my grandmother graduated from there my wife my wife my uh aunt to both my aunts graduated from there and uh man it was like it's like a whole family week there awesome it was so cool to get to do that it was quite an honor yeah so you went to the school and went and lived in this town both uh yeah yeah i was born in maryville but i was raised in a small town called van or just about 25 minutes down the road yeah and you know what she was uh lydia was your asl interpreter she's an american sign language interpreter and i was the guy in the crowd with my arms cross saying what's the deal about this guy anyway you probably remember me uh no and i the next day we had a road trip planned and we listened to at the time it was a new uh concept this audio digital book or i'm sorry this digital audio book that we download and we listen to it all the way to our trip and all the way back and at that time we fifteen months later we we paid off about thirty thousand dollars in student debt and yeah so we've been debt free ever since but a few years later you know we find the house that we want to raise our family in and we um absolutely just killed it and um so fun we paid off that house 24 years sooner than the bank wanted us to that's how we just say that way to go that's so cool that is so cool so the total money makeover with the digital download stays on the road with you absolutely man back to that and that probably took a while to download back then yeah it did yeah on a little ipod touch yeah yeah playing on a cassette adapter yeah that is so fun yeah we had that thing on cd for a while and then of course when uh everything went to mp3 it was awesome and we were able to shift it that's so cool y'all fun fun so what are your degrees in uh my degree is in american sign language interpreting course yeah and and i'm a teacher i'm an educator but uh i work for a tech company now in their professional learning space oh that's neat very good good for you guys i'm so proud of you thanks excellent how does it feel to not have a payment in the world you know it feels great and i mean our our goal this whole time was getting to that baby step seven um because that really starts us out on the next chapter of our lives and and that is you know we we always like to share with folks but um uh in in the bible we see god working through three institutions and or you know three human institutions and that's fatherhood marriage and adoption and so we wanted to adopt and we want to help others adopt and so starting this friday we're going to have a couple of new kids entering to our lives and we fully intent to adopt them and um our our vision is after that we would love to just write a check every year for someone in our church to also do the same they can adopt as well that is very cool and you don't have any payments yes which means you can actually do this yes this is not a pipe dream you've actually mathematically figured out this is doable absolutely it's easier to help people when you aren't broke that's right you know what a neat idea i mean people are like everybody's got a lot of good intentions but they don't do nothing to get themselves in a position to be generous like you are i love it man and then you see the people in your church that can write a check to help out and you think well that person must be a fill in the blank own some huge business or some nope it's two really dedicated teachers that decided way back in the day we're just going to live our lives differently six years ago we're gonna pay off our house that's incred our house incredible love it all right who are your biggest cheerleaders you know uh outside the two of you yeah you know we we have our our parents here uh both both sets represented here and you know we love it it was my mom uh in the mid 90s who i saw as a kid just paying off her house before it was cool right i mean she just absolutely paid it off early and that really inspired me we we saw that it gave her so much freedom to just pour out on her grandkids and to her kids and even even as a teenager i was just sitting there thinking i want that as well yeah but so she they they've just been great cheerleaders for us awesomeness so what do you tell people the key to getting out of debt is you guys are professionals you've done it yeah so i would say um the key uh is really being on the same page whatever whatever you have to do i don't think there's any way we could have done this if one of us was dragging the other in either direction not for six years um yeah so uh you know whatever it takes to figure out financially how you can make this happen um yeah right and and dave i will always say that my key she is standing right here because um i i might have been the philip fulmer on the sideline with the playbook you know drawing up the the plays and the spreadsheets and all that but she was the peyton manning on the field doing 95 of the purchases in our family and ensuring that we're staying on track and she likes uh she's always been the type she like loves composting she loves to see nasty things getting shrunk down smaller and smaller and smaller and that's exactly what she did with this debt as well like she was the one who said can i press the button can let me click the button to make that number get smaller and smaller and smaller until and so now it's it's zero and we are we are so grateful for that we'll get the kiddos into the shot their names and ages are what yes so this is we have sophia is our oldest she's 10. this is benjamin he is eight this is elliot right here who is five and gideon who's three all right and two more coming next week yes sir on saturday yes sir yeah they will be 12 and 10. all right wow very very cool well congratulations you guys we are so very proud of you got a copy of the legacy journey for you because you've put yourself in a position to be a legacy and live a legacy it's beautiful it's a great great picture of uh winning it's absolutely amazing i'm so proud of y'all very very well done also a copy of the total money makeover for you to give away pay it pay it forward and we appreciate you six years six years was it worth it absolutely yes sir absolutely looking at you right there it's worth it it was worth me getting up and coming down here today to get to meet y'all yeah me too pretty incredible i love looking at the lineage between a speech given nine years ago is gonna impact the lives of a 12 and 10 year old two adopted tomorrow good grief man i'm about to cry look at that all right y'all count it down i love it 215 000 paid off in six years making 80 to 125. let's hear a debt free scream to god alone be the glory three two one we're dead [Applause] [Music] man that is amazing you never know you never know [Applause] this is the ramsey chef [Music] [Music] homeowners insurance can be one of those set it and forget it kind of things when you first bought your house you may have gone with whatever coverage your lender suggested at the time never thought about it again but just because checking up on your insurance is easy to forget doesn't mean you can afford to forget it smart homeowners shop coverage every two to three years and make sure they have the best coverage for the best price you also want to make sure you have the right amount of coverage on your home because it's gone up in value and you might be underinsured it's been a while since you check your insurance talk to one of our endorsed local provider insurance agents they're independent agents they'll shop among a bazillion different companies get you the best possible deal text home to 33 789 and talk with a trusted insurance professional about the right coverage for you text home two three three seven eight nine sarah's in columbus ohio hi sarah welcome to the ramsey show hi dave thanks for taking my call sure what's up so my a year ago my mom passed away and um my dad asked me for help she left a huge financial disaster which shocked everybody um and so i've been helping him over the last year and we've paid off 36 000 in consumer debt car loan and credit cards good and then um he has a house payment he owes 21.8 on the house and he has about 60 000 in a 401k and his budget monthly is really tight i have 94. at the end of the month left over and i was thinking about pulling money out of the 401k to pay the house off to free up more money monthly because there's you know there's a four hundred dollar dental bill 83 yes okay yes that's what i wanted to hear let me let me kind of walk through how i got there so that you can decide if you agree with your the advice i gave you okay um but the reason the reason yes is this 60 000 is not enough to fix his problems any more than forty thousand is right his nest egg is not big enough you've got other issues you know because it's not six hundred thousand it's not three hundred thousand you follow me the difference the of the impact that 40 will make on his life being in the 401k versus 60 will make on his life the difference is not measurable it's so small i see what i'm saying in other words if you told me at 40 or at 60 it wouldn't matter it still just doesn't have enough it's just short right and you've done everything else you've scratched and clawed and gotten this other mess cleaned up good for you you're really doing a great job helping him thank you for doing that um so but but uh uh you know and you're not really pulling money out of this 401k to live on either are you he's not right no yeah and so not pulling money out of 60 or not pulling money out of 40. versus not having a house payment at 82. yeah get rid of the house payment that's how i did that yeah okay great thank you thank you for calling ouch yeah that hurts man so you know if you're 20 something and you're listening to the show right now that 82 year old guy's supposed to inspire you yeah to get your crap together so you don't end up there because a hundred dollars a month invested from age 25 to age 65 is one million 176 thousand dollars one million dollars you will have if you invest 100 between now and 65 20 years later you'll be that guy and that should also inspire every young couple out there to talk to one another so that when one of you passes away which they will there's not a surprise yeah one of you handles all the money and that one dies the other one is not only broke but they're clueless right and scared and terrified and thank goodness sarah was there right to step in and help but both of you working the plan together working your money together knowing what's going on i mean in our situation it's gotten so freaking out of control and complicated we have this huge family meeting that includes the leaders of the company here once a year if dave dies this year here's how it's going to go down and we go this and this and this and this it it's rather entertaining unless you're me that's so sad yeah there's some people it's my monty python meeting i'm feeling much better it's just a flesh wound but yeah i'm not going but uh yeah i mean we plan it out because i don't want that to happen because this is complicated for my kids to be overwhelmed my or their mom to be overwhelmed and uh and so forth uh and it's a lot of moving parts and so it's really everybody needs to know that's a really good point john all right abby is with us and let's see here abby is in san francisco hi abby hi dave hi dr dolan how's it going great how can we help uh yeah so i just wrote down one question that i had and i would love to get your opinion on it and i would like you to answer it as though i was your son and you wanted me to and you were coaching me like that that's how i answer them all right awesome uh but before i started i just wanted to mention dr d i love your show i love the rocket diario stickers and horse master stuff keep it going that's all i'm gonna say all right thank you so i'm on baby step number three and my safety net is fifty thousand dollars and i will get there by the end of the year my partner and i are moving towards fiance status so if we get married her combined income will be 210 000 per year pre-tax she's having a hard time understanding why credit cards are bad and why i would like not to have credit cards in my future family she wants to keep a credit card around in the off chance that we go through our emergency fund for any reason and her parents get sick and she really wants to go visit them so if i was your son how would you address this problem with my fiance girlfriend if she's unwilling to draw a line with their family and kind of basically basically told me i'll do whatever i need to do in order to take care of my extended family even if it means putting my future family in bed and stuff like that and i just wanted to ask if dr dolani could speak about what is uh what is her uh uh her cultural heritage uh we're both indian so it's like we always take care of our family and all that stuff and i'm fine with that but i'm just trying to understand like if dr delonie had this issue how would he deal with it how he convinced his wife to go against the norm as well let's talk about the money part first well the the thing is this where someone says if it bankrupts my current family because of cultural norms i'm willing to do that to take care of my extended family i i i don't necessarily believe that flex um that sounds like somebody trying to let you know before we get married that my family is everything to me and um if someone's truly saying that then that's somebody that i'm gonna be apprehensive about tying myself to because they are telling me up front you're not a judgment you're the least important person in my life right of those i love you're at the bottom right and if our kids come along they're going to be at the bottom too that also sounds like a grandiose statement that somebody who's not yet engaged not yet married makes um i'm gonna do this and this and this well congratulations you know you're not right you've never held your baby right um but i i i think it comes back there's there's a level of fear that she sounds like she has and yeah she addressed that with me as well she said you're asking me to do all these things but we're not married so i'm fearful that if you break up then i'll be stuck in a situation where i'm not totally aware of how to handle it so i'm fine with that but i'm just thinking like if we do get made like yeah in order for you to get married you need to be in agreement that's exactly right whatever whatever the agreement is you need to be in agreement because i'm not you know thinking you're going to change someone after marriage either one of you is a bad bad bad plant that's right but now so here here's the thing from a reality standpoint a mathematics standpoint if you make 210 000 a year and you have 70 000 in your emergency fund and you still need a credit card as a backup for a potential emergency that is not a mathematical fact that's a psychosis right that's methodology that's a ridiculous fear that is not not based in reality right and so that that's silly yes is what that comes down to so that's screaming that i've got other kinds of insecurities going on that we need to understand and sometimes that is someone a child is told their whole life you will have have it have a credit card for emergencies have a credit card for emergencies and you will take care of me and it's just a matter of looking down at the math no matter what happens you will take care of me that's right yeah they're told that too absolutely they are so i think you got to get on the same page man and start way at the beginning addressing the fears that she's bringing into this relationship yeah and um and you can't really expect her to do things that's exactly what we would do hope that helps feels a little vague sorry man [Music] this is james childs producer of the ramsay show did you know the ramsay show is one of the most popular podcasts in the world subscribe or follow today wherever you listen to podcasts [Music] this is the ramsay show [Music] you can be intentional about your character you can have money and a career you are the hero in your story [Music] live from the headquarters of ramsey solutions broadcasting from the dollar car rental studios it's the ramsey show where debt is dumb cash is king and the paid off home mortgage has taken the place of the bmw as the status symbol of choice i'm dave ramsey your host dr john deloney ramsay personality is my co-host today open phones at triple eight eight two five five two two five that's triple eight eight two five five two two five a couple of uh show notes around here i want you guys to check on i'm working on a project called baby steps millionaires people that have become everyday millionaires by following the baby steps and there's a bazillion of you out there because i've been doing this for a long long time if that is you get in touch with kelly and let her know you're there for one of our millionaire theme hours and if you feel so inclined do a little brief version of your story on facebook or instagram and put it out there and just talk about i became a millionaire because we followed the steps that the folks at ramsey teach i'm a baby steps millionaire and i've met tens of thousands of you over the years but i've never really quantified it and i've never really publicized it but um it's a good thing for the world of social media to hear that you can become wealthy if you do the stuff that we teach which is very basic common sense i don't teach you anything that's rocket science and uh we we don't teach you anything it's not that's rocket science but we're here to you know what we what we have done is we show up every day for 30 years encouraging you to do it and you already knew it you have to live on less than you make a concept congress can't grasp i mean you already knew what to do and here's a fun one john credit card debt keeps falling and here's a sad note banks are on edge dave i've got a kleenex if you need one i have a tear banks are on edge the banks are on it americans are paying down this is uh this is for wall street journal americans are paying down their credit card debt at levels not seen in years that is good news for everyone but credit card issuers large card issuers that cater to borrowers ranging from the affluent to the subprime say the overall card balances and thus the firm's interest incomes are falling to make up for it issuers are spending more on marketing and they're loosening their underwriting standards which means that you don't even have to be alive now and they will issue you a credit card they don't have underlying 100 writing standards they just give everybody a card discover said it's earnings call last month that the share of card balances that were paid off at the end of the first quarter was the highest level since the year 2000 capital one what's in your wallet money said that nearly half of the credit card balances it had at the beginning of march were paid off by the end of the wow card balances at three companies including synchron synchron synchrony i can't even say that which is the largest issue of store credit cards in the us uh the three companies say they're down nine percent seventeen percent seven percent in the first quarter of the year perspective card issuers rely on growing card usage and balances for their revenue they're wondering if the pandemic trends will turn into a long-term shift we are very focused on returning to growing loans i love this next line delinquencies can't get much lower than where they are we can't beat people up anymore or otherwise our loans keep shrinking your revenues come down margins will get worse if people don't keep on screwing up we're gonna make less money guys okay guys how how can we and i love going back to this marketing and loosening so here's what's gonna happen you're gonna start getting these emails and cards in the mail saying hey we miss you guys yep here's some more money you can just go spend hey dave what happens if america collectively said whoa we got our bell rung and we said i don't want to be the little pig in the straw house anymore i'm going to get my crap together i'm going to get out of debt and have an emergency fund i'm going to be the little pig in the brick house so when the wolf comes and blows i don't have credit card debt i don't have student loan debt i don't have car payments i'm under control and i got a pile of money you know what would happen discover would be up a creek the economy would collapse no it wouldn't the economy would boom let me ask you this if you're if you get completely out of debt thus you have your entire income to work with and you have money saved for emergencies and saved to buy things do you then do people then spend less over the next decade following that or more i know in my life we've spent more spend more the house i bought was more the because you're affluent yeah you're building your you have money you spend and you spend so this idea that debt drives the economy is not true now consumption does drive the economy but consumption increases when people aren't broke so the idea that getting rid of debt in america and getting rid of this burden on the back of everyone is somehow going to cause the american capitalistic system to completely fail is asinine because the reality is when people get out of debt and have money they spend more money now they spend it differently right more intentionally more wisely but it's not less dollars being spent on big screens you get nicer bigger more dollars being spent on the equivalent of whatever the consumption is because you've got the money yep i mean think about it if you have to really think about the big screen and best buy has to approve you for 90 days same as cash and you have to go through a uh you know an entire portfolio of paperwork just to walk out with your big screen you shouldn't be buying the victory well you shouldn't be buying it but let's say if you have to go that versus you go you know i want one of those uh no i think i'll take two and y'all just deliver it to me and here's the money now who spends more i mean you know no really i mean you're not you're not being crazy right but the truth is that i make a lot more money and have a lot more money than i used to have and i spend a lot more money than i used to spend well no duh you know so this this is the most wonderful news in the world and i wish i could take credit for it but we're not a big enough deal to take credit for we're a big deal but we're not a big enough deal to shift the whole economy yet but one of my goals in life is to get americans to start treating the credit card like it's the financial cigarette and we are on track baby but uh the pandemic came along and helped me with my goals woke a bunch of you people up it slapped the silly out of some of you i think that i again my friends make fun of me for being overly optimistic all the time but i think that all by and large people are good and i think by and large people um when backed into a corner go oh okay and my hope here is that everyone got their bell rung nothing can happen to us we'd forgotten 911 and before that it had been years and forgotten in 2008 right and that everyone realized oh this can go away overnight but this you know this can be a segment of america this could be their emotional great depression yes they're never again right and uh hopefully and that that's really what this article goes on to say is happening um and all we're gonna do around here at ramsey is just throw gas on that fire baby absolutely oh no i can't bear it [Music] we were drawn to christian healthcare ministries because we both had young families and we wanted to have more children and we had also just started a real estate company and needed to find health care coverage that would meet our needs we were attracted to chm because of its low monthly costs and the ability to negotiate medical costs down established in 1981 and accredited by the better business bureau chm is here to meet the needs of your growing family or small business check us out at chministries.org backslash budget we absolutely believe in it [Music] [Applause] [Music] [Applause] this is your last week to shop our famous ten dollar sale learn how to make faster progress with your money in your life when you check out these life-changing books you can save up to 60 percent on over 40 best-selling books and budgeting tools like the total money makeover or dr john deloney's new quick read redefining anxiety which is a national bestseller plus these make great gifts now we've had ramsey books 40 of them on the bestseller list and they're 10 each and you mix and match you can get a half a case you can get a case people buy the total money makeover by the case they buy deloney's redefining anxiety by the case and give them out the ramsey team loves giving this all this stuff away for half cost we're also doing a memorial day sale this weekend where you can get up to 71 off kids products and bundles check out all these deals the 10 sale the memorial day sale all at the online store at ramseysolutions.com before the sales end that will be now get this done go to ramseysolutions.com and check out the store all kinds of fun stuff going on seth is with us seth is in fort smith arkansas hi seth how are you i'm good man how are you better than i deserve what's up good deal well um first off i am i say aye my wife and i we are newly debt free newly as in monday yeah free for you yes thank you thank you it's been a we've been scratching and clawing like third monkey on noah's ark trying to get out and get our head back above water where we need to be and we finally done it um i have not heard that that is fabulous that's the most arkansas thing i've heard since the last time i was in arkansas so great i'm going to understand you know i'm going to steal it that's a good go ahead go ahead um i have a question about pmi um do we have it is that something that everybody has if you don't do x amount down um does it fall off on its own that's you know if if we do have it um does it come off on its own do they ever drop it do i have to request them to drop it how to explain pmi to me so i can get my brain around it okay well with a conventional loan a fannie mae loan uh if you put down 20 or more on the property there is not pmi private mortgage insurance and uh for those of you that don't know what seth's talking about private mortgage insurance does not insure you it insures the mortgage company you buy insurance for them so that if they have to foreclose and they lose money on the deal the private mortgage insurance company writes them a check it is foreclosure insurance that they make you buy because you didn't put enough down payment to protect them that's what it amounts to and so uh it's you know it's a it's a the concept is valid but it's you know it's not something that's fun to pay because you get zero benefit from it and the mortgage company you're buying insurance to protect your mortgage company from you is what amounts to so pmi is 80 loan to value on a fannie mae a traditional uh conventional loan they generally will drop it but many times forget and so if you get down to 80 of the original amount borrowed or the original purchase price and they haven't dropped it i would lean on them many times you can contact them and if you're willing to purchase an appraisal that by an approved company that they do which costs you four or five hundred bucks uh that that that that mortgage company approves of and it shows that the property has a 20 equity loan or 80 loan to value then they will drop the pmi they have to drop it when it gets down to uh 20 80 80 20 if you request it of the original amount but for instance the year you could pay down the mortgage or and or the value of the house go up and you could get your 20 equity in there and get rid of it on that with fha it's technically called mip mortgage insurance premium and it doesn't go away ever as long as you have an fha loan you have mip uh and with va it's built in it's it's not technically there but it's built into their system so you're you're paying for it in both of those either way so sometimes the way to get rid of it is to refinance and get rid of an fha loan but with a fact it's gonna be my next question yeah is that what you've got as an fha yes yeah you're you're the only way you're getting rid of it unless it's one there's a few of the newfangled ones that you can do and you can get rid of it uh again it's more like the fannie mae so you may want to check with your mortgage company just start talking to them about it go okay under this particular loan what have i got to do to get rid of mip or pmi and they'll tell you uh you know what their guidelines are and if it's like you're stuck with it forever then the way you're gonna get rid of it is to refinance it um and it's equal to about 75 a month per 100 000 borrowed and so it's a lot of money monthly it equals you know a quarter to a half a percent of interest is what it amounts to and so you're getting dinged for not having put down a good down payment is what it comes down to at the end of the day um that's why we always recommend if there's any way possible to put down 20 simply because you avoid that i hate paying that pmi i love not having any pmi being able to it's more money than i would think it was right what you said i was thinking it's 50 bucks no it's a chunk of money it adds up yeah it adds up to being a substantial amount phoenix is on the line kim's calling hi kim how are you i'm great thank you i'm so excited to talk to you guys so my husband and i have been following your principles for many many years we are maybe a month or two away from being debt-free so we're super excited about that my niece um has had some really rough times her mom died while she was young my parents raised her my mom died so my husband and i adopted her she just graduated college how old was she when you adopted her wenki 20 yes okay yes it was an adult adoption i got you okay and um yeah she didn't have health insurance and other things we wanted her to have access to our estate so that's why we did the adult adoption okay um she graduated from college with only six thousand dollars in debt thank you and i'm very proud of everything she's done but she's struggling with anxiety and what to do next how to find a job how to even start the process and my husband and i are professionals we can advise her but i'm struggling getting through i don't know what else to do what to say to her so when you say you're struggling to get through describe that to me what does that mean you give her advice and she doesn't pay attention you say hey let's go get coffee and she sleeps in what does that mean normal teenager stuff we give her advice she asks our advice which is wonderful we give it and she just doesn't seem to do anything she's just she's 20 now so she's not she's out of normal teenagers yeah 23. so she's out of normal teenager stuff she's she's in full grown up right yeah yeah so you is she still living with you yeah so she graduated a week ago so what's our degree in um event management and tourism that's a tough season to get it so so back to booming industries in copenhagen yeah so well you know it's not in clovis but here in arizona there's a million opportunities yeah so she's just choosing to not go to work yeah why how come well she the answer i get is i'm i'm nervous i'm anxious i don't know if i'm gonna do the right thing i'm gonna say the wrong things am i gonna make a mistake everybody makes mistakes i tell her everybody makes mistakes if you don't like the first job you find learn something from it in the vine but i can't get her to just pull the trigger and i don't it's so worried about her yeah so here's here's a heartbreaking situation that you're in um she's experienced loss like many people on earth will never experience right her first caretaker passed away her second caretaker passed away and then as an adult you swooped in and at some point you're going to have to lovingly let her go and this is going to be hard because you want to be that person that's always there for her and what you're gonna have to do is change your definition of what there for her means and that does not mean you can just live at my house and and do whatever you want that means i'm gonna put you on a plan and you're gonna have to move out you're gonna have to go get a job and then we're gonna have you over every sunday for lunch and i'm gonna check in with you but you're gonna have to start learning to fly yeah she's scared and she's got a lot of reasons to be scared but anytime you jump out of the nest and spread your wings it's scary for her it's super scary but she still has to jump out of the nest that's right it doesn't mean you don't love her when she starts to fly [Music] dr trondalone ramsey personality is my co-host today i'm dave ramsey your host open phones at triple eight eight two five five two two five dayton is with us in valparaiso indiana hi dayton how are you good how are you better than i deserve what's up well um my grandmother passed away a couple years ago i met i'm having trouble hearing you you're muffled can you speak directly into your phone please yes is this better yes sir thank you my grandmother passed away a couple years ago and bless her heart and her hard work she left um both her children and children's children and inheritance um so basically in the amount of 39 000 in her trust we are allowed to receive half at age 25 and half at age 30. i turned 25 on sunday and received my first half but approached my mother as she is the one handling the money um to potentially move the second half into a non zero percent interest rate checking account something other than that that could possibly not have interest kick my butt over the next five years is your mother the trustee yes okay she's allowed to move it to even a money market account obviously that's kind of out of the question and i just wanted some guidance on some good um healthy maybe fdic insured um you know accounts that could that could maybe help hedge against that inflation there's not any inflation has run an average of 4.2 percent for the last 78 years and the interest rates on money markets and fdic accounts are one percent one and a half percent you're not gonna hedge inflation with one and a half versus four uh you have to you would have to invest it greater than that to offset inflation the good news is it's only for five more years yeah and it's only eighteen thousand dollars yes okay and so if you make um uh you know two percent or four percent on eighteen thousand dollars it does not change your life in five years one way or the other here uh so so really i mean if you wanna get real technical about it what she should do but it won't um is to put it in a good mutual fund something even like an index fund and just let it sit there for five years it'll do a whole lot better um but it's not fdic insured and she's probably freaking out and doesn't want to do anything she's probably super uber conservative it's humorous that 39 000 that small amount somebody bothered to set up a trust for it yeah well she did yeah it's done though but uh the less the lesson would be that's not worth screwing with you you can't you can't you can't mess up your entire life with thirty nine thousand dollars yeah i mean you can have you could have thirty nine thousand dollars worth of regret would be the worst case scenario but um but you know it's so i mean wow uh but yeah i would just ask mom to put it in an s p 500 index fund and look at the track record on that over the past 50 years and i think she could be very comfortable with that or put it in a money market at one percent you can get that at your local bank or credit union and that would be fdic or fsr or ncua insured you could get insurance on that but you're not going to make one you may be wanting some change or something um which is not there's nothing life-changing in these numbers and you're going to go talk to your mom and she's probably going to say no let it go forget it don't lose your relationship with your mom and be dramatic and all over over 500 bucks over five years yeah right it's not it's just not enough money to it's you know if it was 3.9 million we can have some arguments about where this gets invested okay because you're starting to lose substantial money at that point and it's not that i'm a snob or something like that i don't think it's just mathematically the difference buys a biscuit right and she's wrapped up into this she's got different different hooks in this money because it's her mom and all just a lot a lot of emotion around this deal i can tell because your grandmother put it there yeah before she passed so yeah all right open phones at triple eight eight two five five two two five nick is with us nick is in houston texas hi nick how are you hi dave thank you for taking my call i'm doing great how are you doing better than i deserve what's up so we recently parked we originally sold a house and i'm trying to figure out what to do the extra equity of the house we have 60 000 from that house i've been following you for the past three years you've really changed our life um we just recently completed step number three so i have a good six months worth of income saved up and now from step number four i am 33 i haven't contributed anything to my retirements my wife works from home my company's been putting in they can they put in money even if we don't master anything nick do you guys own a house we do we own a house yes okay so this was a different property than you lived in correct all right that was our first house this is our second house okay cool cool well the baby steps tell you that baby step four to put 15 of your income into retirement have you heard that before i have so my question is i just started applying six percent into a roth 401k um but my i'm trying to figure out that equity that we got from our first house what to do with that 60 000. you want to put it on baby steps 5 and 6 because you're putting 15 of your income not 6 percent into retirement okay you don't lump sum baby state you don't lump sum baby step four okay so i shouldn't take that 60 000 from the house and just put the remaining okay nope what's your household income uh it's 110. okay all right so you need 17 000 a year going into something between you and your wife and she has a 401k available you don't have you don't have a retirement plan available at work i do i have a i don't have a 401k available at work but it's just uh it's one of those you know funds that you pick a year you're going to retire and you contribute to that target date yeah okay do you still owe money on your mortgage yeah oh yeah we have money on mortgage we just got it um you got children the other part of that we do yeah we have we have three children i have a 13 year old with three year olds and a newborn wonderful i would i would use some of this i would sit down with your smart investor pro i would use some of your 60 000 towards setting up their colleges you might do 10 each for fun so my uh my wife actually my wife's uh mother just passed away this past year and uh left her some money and that money's in the broker's firm that's an inherited ira um it's uh somewhere around 130 or 140 000 how much do you owe in your home uh we owe um we have 240 000 loans you almost pay it off so i guess my question is because we have kids shouldn't we take a portion of that and put it into 529's or something yeah so at least portion of the portion of 60 000 from the house sale baby step five is kids college that's what i said just use some of it sit down with your smart investor pro put 10 each aside maybe in a 529 for each kid that'll leave you that puts 30 in there as young as they are they get you a good start and start doing some monthly on that in addition and the smartvestor pro can help you calculate exactly how much you need to be doing to have a fully funded college fund for each kid based on their age and then throw the rest of it at your mortgage and uh when you get within reach of that inherited ira and pay that mortgage off i'd cash that ira out they inherited one and pay their mortgage off now i don't cash out normal iras or 401ks to do that at your age but that inherited ira has a 10-year rule on it anyway you're required to pull a tenth of it out every year under the new law and so as you pull it out throw it at the mortgage they'll put throw it to pay taxes throw it at the mortgage and then back to your baby step four you need to get 17 000 a year 15 of 110 going into some combination of you and your wives and you're still using pronouns as if you two aren't married uh it's our money our house our retirement and our kids and our inheritance and our and we my wife inherited money so we have an inherited ira now it's not like she gets to set that over there on the side and you know that's not what that's not how this works don't over complicate this yeah just make it real clean real simple it's one pool of money one percentage for the whole house and so if most of the retirement is in her name it doesn't matter you've got rights to it by marriage and by wills and everything else so you need to always have a will but you know let's let's get this smoothed out here and the 60 000 gives you the opportunity to do it [Music] [Music] our scripture of the day proverbs 13 20 walk with the wise and become wise for a companion of fools suffers harm john maxwell says a man must be big enough to admit his mistakes smart enough to profit from them and strong enough to correct them there you go open phones this hour dr john deloney ramsey personality is my co-host you jump in we'll talk about your life and your money carlos is in san jose california hi carlos how are you good how are you dave better than i deserve what's up hi um i just want some clarification i've been seeing you for about past couple months now and i've made some mistakes in my life so i just want to do it right this time so my wife and i uh i'm 31 my wife is 33 and we have a 16 month old baby congratulations thank you thank you appreciate it we just received our federal tax today after eight weeks of waiting and i'm in a unique situation i can actually pay off my car today we are about twenty thousand dollars i made a mistake of getting the fleece and then i heard you like me i thought me and acro were me and were best friends i guess not so um right now i currently hold about thirty two thousand our savings account twelve thousands in our checking and another four thousand in a separate checking account so i just want to make sure i'm just doing this right i know what you're going to say you're going to say pay off this card today and um start saving up for a house why wouldn't you i live in the bay area you know it's a little expensive so i just want to make sure i'm just doing the steps correctly what's your household income um so my wife makes about 50 000 a year and i just started a part-time job i take care of my daughter during the day so i only make 18.50 per hour so i know i need to bring my income up especially living in the bay area but we're working towards that so um i just wanted so um so what's the car what does it take to pay the car off uh today will be about twenty thousand three hundred and eleven dollars twenty eight thousand yes sir and your household income is fifty uh yes sir right now yeah unless your household income is going to go up probably ought to sell the car is your household income going to go up uh the answer is yes the correct answer is yes yes yeah so pay the car off today you're right you knew what to do but um you know here's the thing you live in uh one of the four most expensive areas in america to live yes sir and you make a below average income for america household income in the most expensive area so the this this is the mathematics of that statement are very strenuous on your house hold yeah what does your wife do man uh she she works at the clinic she's a front desk she makes um okay so you guys are gonna have to get careers going that match the expensive area that you live in or you need to consider relocating yes okay it's okay there's no shame in making 50 but when you make 50 and housing and other living expenses in the in the bay area in the san jose market i mean freaking silicon valley i mean you know this is unbelievably expensive manhattan yeah um you know la uh san fran downtown and silicon valley i mean these are these are um unbelievably expensive areas and and so uh you can do it but that most people that are doing it are doing it on double or triple what you guys are making of course and so i'm just you know and the car doesn't fit in this equation so i i think the car yeah yes i'd pay your car off and you can always sell it later if you want to so there's no harm in paying it off today and but but you know don't be sitting any this exact spot income wise uh and be still sitting here wondering why you have no money three years from now and because i've already just told you why you'll have no money i want you all to have a great conversation about is living in this cool place with nothing worth worth yeah or do we move to kansas and make the same amount of money it goes a lot further we don't have the bay side but we've got life we can breathe we can go have some good times and fill in the blank right whatever that looks like but i wanna i want y'all to have a a dreaming conversation about where else could you go or even if you you know you you love that particular area but you just move 100 miles from there and have a very similar climb climate and so forth but a completely different set of economics um because it's just it's just prohibitive to think about buying a home in where you are with that kind of income right it's you don't get a pass on math because you live in california it's still there so that's what it comes down to aaron's with us in new york city speaking of expensive hi erin how are you good dave how are you better than i deserve how can we help all right i'll try and keep it uh simple and sweet to the point i'm uh 22 years old uh ever since i graduated high school i've worked in a very specific field of heavy construction and i make about 100 to 150 000 a year and this year with all the overtime so far i'm actually already at about 110 so i'm on track for about 200 to 240 this year i'm very very do you do um i almost don't want to say it so other people don't jump in the career field no very specific specialized sort of welding that we do out here that is wonderful i'm so proud of you awesome that is amazing my friend mike rowe thinks you're absolutely a stud and i agree with him well thank you very much i'm actually in the city right now just working day and night so in between shifts right now but i'm bad well my question my question was uh i still live at home i have about 80 000 in the bank i have about 90 000 in an annuity through work and about another 25 000 in a traditional ira that i set up last year or no not last year i love you and um i was just wondering what the next move is i i love that i'm in the position i'm in but it's also a lot you know i don't really have anyone similar my age to talk to about it yeah i don't you you don't have many people anywhere to talk to good for you man yeah because you have more common sense than the average eight americans put together you're amazing good for you man man you're a stud all right so um all right in the in the multitude of in the multitude of counsel there's wisdom the bible says and so you're making enough money and you're doing very well that you need to start putting some experts in your life that have the heart of a teacher so get online and get a smart investor pro and go meet with them and begin to map out what some of your goals are for your investing um you can get online and even start talking about having a will everyone should have one regardless of their age if they're 18 years old or older and that's an expert you start to put the financial people in your life that will advise you because they do know people like you they do know people that have more money than you and less money than you and they can teach you and say well here's what one of my clients did and here's an idea for you to think about and they can teach you you don't do it because they said to you do it because you learn from them okay um if i were in your shoes i would put a date certain on the calendar that i'm moving out okay and that can be that can be to a rental it's okay and i didn't i didn't give you the date uh but it doesn't need to be four years it'll be good for you as a young man emotionally and that's making all this money to not be living in his mommy's basement right okay it's not it's not like you're a bad guy it's not like you're weak or something like that but i don't want this to have no end date if it's got an end date then everybody in your house around you your family everybody starts to plan emotionally for the day that aaron packs up his box of uh soccer trophies and goes on his way and aaron do you did you grow up in this area uh i actually live an hour from from where i work i actually live in new jersey you can live and then you can live in the same neighborhood then i don't care where you live but i'm just saying get on your own pay your own light bill buy your own food buy your own coffee you know uh make you know that kind of stuff lock the door when you leave all the things that adults do and that's going to be good for you later on now you don't have to do it you can do it in a year you can do it in 18 months you can do it in five months i did not give you the date certainly it doesn't need to be four years i didn't say that and i want you to start grabbing a couple of friends that are different than you've hung out with your whole life yeah and guys are gonna be able to walk with you and teach with you in this new place you've leveled up financially wow and you're going to need some new eyes and new ears around you and we're here man you call us anytime we're loving it we're impressed with you you're a stud dr john dolone good show good show james childs and kelly daniels in the booth i'm dave ramsey 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 kelly associate producer and phone screener for the ramsay show if you would like to do your debt free scream live on the show make sure you visit theramsieshow.com and register we would love for you to come to nashville and tell dave your story [Music] you

Channel: The Ramsey Show - Full Episodes

Views: 52,081

Rating: 4.8319783 out of 5

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Id: quybqAdUgQA

Length: 121min 45sec (7305 seconds)

Published: Wed May 26 2021