0:00

used live

0:09

from the

0:12

headquarters of Ramsey

0:30

solutions it's the Ramsey show

0:32

we help people build

0:35

wealth do work that

0:37

they love and create

0:39

actual amazing relationships

0:43

number one best-selling author of

0:45

the book breaking free from broke Ramsey

0:47

personality and host of the very

0:50

popular George camel show on YouTube George

0:52

camel is my co-host today thank

0:54

you for joining us America the phone

0:56

number is triple-eight eight two five

0:59

five two two five so

1:01

George when sometimes when people think of Dave Ramsey

1:05

they think cheap I don't like that they

1:07

think if I'm doing Dave Ramsey I

1:10

can't ever have a life the rest of my life

1:12

and that was happened early on in my career

1:15

I got associated with you

1:18

know beans and rice rice and beans junk

1:20

cars I have the hoopty drive the hoopty

1:22

never have a life can't have any fun

1:24

and that's all about Dave Ramsey and the truth

1:26

is that that's exact opposite of me and

1:29

so we had to try to communicate that to

1:31

our team and we started saying okay here's the

1:33

deal yes you're gonna pay a

1:36

price to win but the

1:38

point is when that's the

1:40

point so live like no one

1:42

else so that

1:45

you can live and give like no one

1:47

else drive a car like no

1:50

one else so that later you can drive a

1:52

car like no one else yeah

1:54

it wasn't the end goal you know

1:56

and so the goal is not to

1:58

stay you know be worth eighty

2:00

million dollars and live in a cave click lint and

2:02

only come out on triple coupon thursday that's

2:05

not the goal okay the goal

2:07

is to be outrageously generous enjoy

2:09

the money to live like no

2:11

one else but you gotta get your crap cleaned up

2:13

to do that right you gotta get out of debt

2:15

you gotta get your emergency fund in place and then

2:18

you hit baby step four five and

2:20

six where you're investing in building your emergency

2:22

fund and now you're starting the process

2:24

of living like no one else. You can let

2:26

your foot off the gas a little and start

2:28

to upgrade some of the stuff going vacations again

2:30

all that good stuff. So a couple years ago

2:32

we launched a live

2:35

like no one else cruise and

2:38

the cruise date was

2:40

approximately the same date that we shut the

2:43

entire nation down for

2:45

the Fauci pandemic and

2:48

so guess what

2:50

we didn't cruise. It

2:52

was a problem because I mean people were getting on those boats it

2:54

was a mess and so

2:58

it was so painful for all of us here because

3:00

we had the thing sold out it was going

3:03

to be such fun. I had my bags packed.

3:05

It was ready. I mean we were so ready

3:07

to go and like weeks you know days before

3:10

it was it was March 23rd 2020 was

3:12

the sale date. That's when we were

3:14

gonna go and leave the dock right? No. No. No.

3:16

Not enough masks

3:20

or flattening of the curve or vaccines on

3:22

the planet to cause that puppy to sail.

3:24

It was done but guess what?

3:27

Today we are relaunching the live

3:29

like no one else cruise. We

3:32

are going baby. It just

3:34

took a little while. We're going next year at this

3:36

time and it went on sale today to the public

3:39

and as soon as it went out on the

3:41

public and went out to our you know

3:43

we sent out the email newsletter from the people

3:45

on our database and so forth we shut the

3:48

cruise website down. We broke the internet. Oh

3:50

boy. So many people want to live like no

3:52

one else with us so it's

3:55

all the Ramsey personalities. George Camel. I

3:57

mean you got seven days of George Camel trapped on

3:59

a a boat with you. Oh boy.

4:02

Don't tell my wife today she may not go.

4:04

Rachel Cruse and Jade Washaw and Dr. John Deloni

4:06

and Ken Coleman and me. I'm going to be

4:08

there the whole week. That's right. And

4:10

we're bringing some friends with us, y'all. It's going

4:13

to be so fun. It's Holland

4:15

America, so it's an upscale cruise. It's not like Walmart

4:17

on the Seas or something. This is a good

4:19

one. Okay. Not

4:22

a great value cruise. Yeah. This

4:24

is not a value cruise. This is a fun,

4:26

it's an upscale cruise. Because now you're living like no

4:28

one else. You don't need to come on this cruise,

4:31

though, unless you're in Baby Step 4 or

4:33

beyond. Because that would,

4:35

A, make us hypocrites, and B, you wouldn't be

4:37

following our system. Because we tell you

4:39

not to go on vacation until you're

4:41

out of debt and have your emergency fund in place. Baby Steps 1,

4:43

2, and 3. And we're going to stay

4:45

with that. We stayed with it last time. The cruise sold

4:47

out in about, I think it was about four and a

4:49

half, five weeks it sold out last time we did it. And

4:52

based on the response this morning, it's not even going to

4:54

last that long this time. So think about it. Over

4:56

the last five years, people are in much better shape financially

4:59

if they've been following these steps. Yeah. They've

5:01

gotten out of debt since that last cruise. That's exactly right. And

5:04

a lot, you know, the first people we offered it to, and

5:06

we sold a whole bunch of them, were the ones that didn't

5:08

get to go last time. They

5:11

had up until yesterday to sign up, and you people

5:13

didn't know about it. So we're going to Turks and

5:15

Caicos. Oh, have you ever been to Turks and Caicos?

5:17

Sweet! That water's so clear. Makes

5:21

Gomer say, Shazam! I'm just saying.

5:23

St. Thomas, oh, the

5:25

US Virgin Islands, San Juan, the Bahamas,

5:27

these are the stops. And again, it's

5:29

Holland America. It's a first class ship.

5:31

And we're going to have the whole

5:33

ship. It's all just us. It's going

5:35

to be Ramsey people. That's it. Live

5:38

like no one else cruise. And I said we're

5:40

bringing some friends. Stephen Curtis Chapman.

5:42

How many Grammys has Stephen got? He

5:45

has five Grammys. Five Grammys,

5:47

59 Dove Awards, an American Music Award,

5:49

50 number one singles, 17 million albums.

5:53

And a little known secret is he's also just

5:55

an incredibly nice guy. Amazing. We've been

5:58

friends for about 20 years, and he is a

6:00

world class. talent and a great guy. He's going

6:02

to be with us on the cruise. Manit Shohan

6:04

from the Food Channel, world-class chef, winner

6:07

of Iron Chef and a whole bunch of other things and she's

6:09

become a friend in the last few years. We've done several events

6:11

with her. She was at an event

6:13

that we did just the other day at one of

6:15

our VIP events. Oh yes. Man, the

6:17

food. She's going to do cooking demonstrations, all

6:20

kinds of fun stuff with Manit Shohan. Dina

6:22

Carter, country music star extraordinaire.

6:24

I don't know how many Grammys or

6:27

whatever she's got but she's a big

6:29

deal. Been around Nashville forever. We're bringing some

6:31

of the country music

6:33

songwriters. We're going to do songwriters nights and these

6:36

two of the guys, Wynn and Phil, they've

6:38

written some of the biggest hits out there

6:41

like Wynn wrote, Waiting on a Woman. Oh

6:43

yeah. Yeah, little song

6:45

that Brad Paisley did and

6:47

so these guys are going to be on there with

6:50

us. It's got an incredible lineup. We're going to be

6:52

talking and doing events and doing sessions

6:54

all week and we're going to play together

6:57

and we're going to splash in that blue

6:59

water. That's on top of all the normal

7:01

world-class cruise entertainment and we're bringing

7:03

stuff on top of that. It's our cruise

7:06

ship. They're going to have their little dancing people and

7:08

all that but I thought they were going to

7:10

get to dance. They'll have their normal thing, right? But we're

7:12

going to do our dog and pony show, baby. This is

7:14

it. Ken Coleman and I are going to do a little

7:16

routine out there. Yeah, we're working on a little banjo. It's

7:18

kind of an Irish jig. Oh, please don't.

7:21

We'll save that. I'm going to

7:23

veto that. But we do have a world-class

7:25

magician and comedian Nate Bargetti's dad, Stephen Bargetti,

7:28

is going to be joining us. He's

7:30

a hoot. He's amazing. That's how Nate got

7:32

funny. You've seen him open for Nate. Yeah,

7:34

he gets it from him and then Carolyn

7:36

Xavier, a hilarious comedian who even Dave loves.

7:38

Oh man, well I was the one who

7:40

recommended her for this. Recovering California. Yeah, Recovering

7:42

California. She makes fun of

7:44

the South and tells Californians like this is

7:47

a stick of butter. They use the whole

7:49

thing when they cook and stuff like that,

7:51

right? So she's funny as card. I love

7:53

it. This is gonna be great, y'all. It's

7:55

gonna be March 22nd through the 29th. So

7:57

about a year away, little less than a

7:59

year. year away, 11 months away, and if you're in

8:01

Baby Steps 4 and beyond and you want to go with

8:03

us, it's to live like no one else cruise, it

8:06

opened to the public today. We already

8:08

broke the internet once, let's see if

8:11

we can do it again. Go to

8:13

ramseesolutions.com/cruise and get

8:15

your cabins and tickets and all that stuff before,

8:17

while you can. Last time we did

8:19

this, the whole thing was gone in just a couple

8:21

of weeks, few weeks, so you we're

8:24

gonna remind you about this thing, but as you can tell

8:26

we're a bit jazzed about it and

8:29

even though it brings back very dark and

8:31

deep and horrible memories, but aside from that

8:34

we're very jazzed about it, so it's very

8:36

cool, this is gonna be fun. I can't

8:38

wait. Go get your tickets ramseesolutions.com/cruise, we'll see

8:40

you there. This

8:44

episode is sponsored by BetterHelp. Hey,

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9:54

George Campbell, Ramsey Personality is my co-host today.

9:56

Thank you for joining us, America. We're so

9:59

glad you're here. you're here. Alex

10:01

is in Raleigh, North Carolina. Hi Alex, how are

10:03

you? Hello, how's it

10:05

going Dave? Better than I deserve sir. What's

10:07

up? Nothing much

10:09

man, you know I've been following you for a

10:11

couple years man, you know, been making great strides

10:13

and I'm at a point where I'm questioning whether

10:16

or not I should finally treat myself and just

10:18

get a new car that I've wanted for a

10:20

little bit. Okay, alright.

10:23

Yep. So you've been following us, what's the guidelines

10:25

that we use? Obviously

10:28

not taking on new debt. Okay, that's

10:30

one, that's good. What else? You know,

10:32

that's paying off your mortgage, you know,

10:34

all that good stuff, you know, I've

10:36

been working on all that, I've been

10:39

really chugging along the last couple of

10:41

years made, you know, what

10:43

I feel is amazing strides and I'm just like,

10:45

you know, I feel like I need to reward

10:47

myself man, you know. Okay, are you out of

10:49

debt completely? Not

10:52

completely, but like in a position where

10:54

like given my income, the debt that

10:57

I have is very minimal. What

10:59

debt do you have left? So

11:01

I have a house worth about $210, $220, I owe $85

11:03

on it, I got

11:07

a rental worth about $120 that I owe $60

11:10

on and that's it. You

11:12

know, I have a credit card that I owe $2000,

11:14

that's my business credit card for a buyer rental company

11:16

but that's it. That's good for you.

11:18

And are you, and what do you make

11:20

a year, household income? So

11:23

household is around $250, I'm the bulk

11:25

of that, I make $220, my wife

11:27

she makes $230. Okay,

11:31

alright. And

11:33

what is your net worth? Well,

11:36

I got probably, do you

11:39

include my houses and my 401 and

11:41

everything? Well over $200, probably between $225

11:43

and $250, that's it. When

11:47

you say a new car, are you talking about a new to you

11:50

car or a brand new car? A

11:53

new 2024 Ford Maverick, you know, as much as I'd love

11:55

to get a $70,000 Sierra, that's just

11:57

dumb. So, you know, I want to be modest.

12:00

get a truck that checks all my

12:02

boxes that isn't too crazy and is

12:04

very affordable. So yeah the truck's only

12:06

27k so you know like it's

12:09

a new truck for the price

12:11

of used trucks nowadays. Alex you're

12:13

you're a grown person and you're

12:15

certainly allowed to do whatever you want to

12:17

do. It's what you're

12:20

asking is not illegal so you get to do whatever

12:22

you want to do. To be very

12:24

clear though if

12:26

you'd spent more

12:28

time than I thought you had listening

12:31

we teach folks that new cars go

12:33

down in value so rapidly that you

12:35

shouldn't buy a brand new car until

12:37

you have over a million dollar net

12:39

worth and we've taught people that for

12:41

30 years. So I would

12:43

buy a one-year-old truck or a two-year-old truck if

12:46

you can pay cash for it in

12:48

the guidelines that you're talking about would be just

12:51

fine. Yeah

12:53

so like I could it's basically like should I

12:56

save up my resources over the next like

12:58

few months instead of dumping them into my

13:00

mortgage and pay cash for it

13:02

or just keep dumping it to my mortgage and just

13:04

stride on for another year. No if you if you

13:06

want to keep paying down the mortgage that's fine there's

13:08

nothing wrong with doing that too and not buying the

13:10

truck but if you're gonna buy the truck you're gonna

13:12

pay cash for it so you're gonna have to save

13:15

up right? Yeah so

13:17

pretty much should put pauses on the mortgage. The

13:19

extra payments on the mortgage you're gonna slow down.

13:21

That's what we teach you to do at Baby

13:23

Step 3 because this kind of is a want

13:25

for you it's not really a need but let's

13:27

pretend that it was an actual need that you

13:29

were driving a $2,000 car making $250,000 and it

13:31

was really time for you to move up and

13:36

you're on Baby Steps 4-5-6 right then we would

13:38

tell you to just slow down how much you're

13:40

putting on the house so that you could upgrade

13:42

the car to something reasonable because a $2,000 car

13:45

in your situation will be unreasonable right George? Yeah and

13:47

the other piece here is are you currently investing 15%

13:50

into retirement? Yes.

13:53

Okay good so beyond that how much cash do

13:55

you have? six,

14:00

seven grand in my emergency fund savings. I

14:02

think it takes 6,500 to be exact. Um,

14:05

and then in my

14:07

checking, I only have honestly, I think

14:10

like 1500 because I budget very strictly

14:13

and anything extra pretty much at the end

14:15

of the month just goes straight into

14:18

the mortgage. That's how

14:20

you got those low balances. You're killing, you know,

14:22

like, yeah, like I bought this house two years

14:24

ago. The loan was 180 and I'm already got

14:26

it down to, you know, four.

14:30

I love that. What are you

14:32

driving now? You're gonna laugh at me

14:34

when I say this. I work from home. Um,

14:36

so I got a 1994 Chevy S Pen because

14:38

I just, I don't know what the fair

14:41

thing. And then when I, when I got

14:44

the, the, you know, um, the rental

14:46

property, you know, just for like getting stuff for

14:48

that. Cause you know, me and my friend are,

14:50

you know, fixing it up and so forth. You

14:52

know, we got a really good deal on it.

14:54

That's why I got it early because it was

14:56

like, you know, uh,

14:58

too good of a deal to pass out. Yeah. So

15:00

Alex, so what our recommendation always is, and I'm not

15:02

laughing at you, but I think you've done a great

15:05

job. You paid down

15:07

very aggressively on these mortgages. That's

15:09

excellent. So if you want to

15:11

slow down the payment on the mortgage a little

15:13

bit or just make

15:15

regular payments on the mortgages for a few

15:17

months and pay cash for a one or

15:20

a two year old truck, I

15:22

think that's just fine. I would not recommend you

15:24

buy a brand new truck because when you drive

15:26

a brand new car off the lot and you

15:28

hear that sound as you leave

15:30

the lot and pull onto the street, when you go across the

15:33

curb, it goes, that sound

15:35

is $10,000. That's

15:38

how much you lost right then. And by the time you

15:40

get home, it's almost another 10. So

15:43

the new cars just lose so much of

15:45

their value so fast that we don't recommend

15:48

you take that hit unless you've got

15:50

a net worth of over a million dollars. You can stomach

15:52

it at that point. And there are some prerequisites here, Alex.

15:54

You need to pay off that credit card debt before you

15:56

do anything. You have the money sitting there. You got seven

15:58

K in the bank. Pay that off. It leaves you with

16:00

5k. I think you need to be must have emergency fish.

16:02

I missed them I missed it. He said it's for the

16:04

business and all this but I

16:07

wouldn't be playing that game I'll get rid of that get

16:09

your debit card cut up that credit card time for plastic

16:11

surgery to Alex and I think the emergency fund Needs to

16:13

be beefed up because he's only got 5k at that point

16:15

We need to get him closer to probably 15 20 25

16:18

especially if I enter 50,000 You need to

16:20

be a 20 then we can start saving up cash

16:23

for the car So we need to get the credit

16:25

card done get a debit card build the emergency fund

16:27

up to that then save up for a car And

16:29

pay cash that's that's the order of events and all of

16:31

that well you can slow down 50 a

16:33

little there You've done a great job overall all we're

16:35

doing is fine tuning Just a little bit a little

16:37

bit of polish right here, but the ingredients are there

16:40

Oh, we're doing you've got all the right things and

16:42

the good news is you're paying attention And you're

16:44

really thinking about it on a

16:46

Lee is with us and Sacramento. Hi on a Lee. How

16:49

are you? Hi, I'm

16:51

good good. How can we help? So

16:54

I have a question about my mortgage,

16:56

and I didn't know at the time

16:59

Buying our home that you guys don't recommend

17:01

manufactured homes But we

17:03

currently have a mortgage on it And I am

17:06

debating on whether we should throw our savings

17:08

at that Mortgage or keep it in cash

17:11

for when we decide to sell trying

17:13

to pay down the mortgage quicker on the principal

17:17

Okay um well

17:22

Overall the concept is that every day you

17:24

keep it you're losing money because it going

17:26

down in value Yeah,

17:28

so when we decide to sell would be

17:30

like three weeks from now, and

17:32

it's not looking great for equity I'm

17:35

sorry say again based on the pricing start

17:37

again. I was talking to you pricing right now We're

17:40

not looking great for selling right now

17:44

It's kind of a lull in the area. We're

17:46

at mm-hmm, but That's

17:49

why I'm debating on if we should

17:51

be paying down the loan with the

17:53

money I'm saying

17:56

that regardless of a lull in the area

17:58

in real estate every day

18:00

you own a manufactured house it's going

18:02

down in value. Trailers go down in

18:04

value. Yeah. And so

18:07

the longer you hold it the

18:09

more you're going to lose. Okay.

18:11

So I'm going to be thinking about putting this on

18:13

the market very quickly. Now

18:16

there's nothing rental wise that we could

18:18

even really afford for the same amount.

18:21

Well I'm gonna leave some more. You're losing

18:23

money every day that you

18:25

sleep in a trailer. Don't

18:29

talk to me about there's no rental property

18:31

in Sacramento, California. Okay.

18:33

You're losing money every

18:36

day that you own a trailer.

18:38

A trailer is a car you

18:40

sleep in. These are two back-to-back

18:42

calls on depreciating assets. So

18:45

you keep it as long as you want

18:47

and you rationalize it as long as you

18:49

want but every day you keep this your

18:51

finances are going the wrong way. So don't

18:56

rationalize that stupidity. Don't do it.

18:59

You know you need to be thinking about how quickly

19:01

we can get out of this thing. Even

19:03

if you don't have equity it's gonna be a stupid

19:05

tax you paid to get out of the situation. The

19:08

equity is going down. It's getting negative and negative and

19:10

more negative every day. It's what it does. Just

19:13

yeah. Sorry I got friends

19:15

that are in the manufactured housing business. They're

19:17

like Dave quit trashing us. I'm like I'm

19:19

not trashing you. You sell something that goes

19:22

down in value. I'm just stating a fact.

19:25

That's it. This is

19:27

the Ramsey Show. Hey

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you can download NetSuite's free KPI

20:05

checklist designed to give you consistently

20:07

excellent performance at netsuite.com/Ramsey.

20:14

George Kamo, Ramsey personality is my co-host

20:16

today. This is a fun day on

20:18

the Ramsey show. Some days we

20:20

just sit here and do what we're supposed to do and other

20:23

days we get to have a lot of fun. Today is get

20:25

to remind you guys this National

20:27

Financial Literacy Month and that's

20:30

a big deal because financial literacy is a

20:32

big deal. Ever since I started talking about this stuff

20:34

everybody says why don't they teach this in high school?

20:36

Why don't they teach us in high school? Well we

20:38

do. We sell high school curriculum called

20:40

foundations and personal finance. Forty eight percent of the

20:42

high schools in America have now taught it at

20:44

one time or another. We've had almost

20:47

eight million students go through it. It's pretty

20:49

cool. So we're actively working all

20:51

the time. Texas is in adoption right now

20:53

in South Carolina and they're putting

20:55

in you know we're one of the approved

20:58

curriculum and so the

21:00

teachers and the administrators and the people

21:02

who are purchasing the curriculum for different

21:04

schools is now required subject

21:07

to get out of high school in those two

21:09

states and it is in several states. Thank goodness it's good.

21:11

You ought to learn how to balance a checkbook. We'd

21:14

have better congressman if they

21:16

learned how to do that for the you

21:18

know so it's good. And we're biased but

21:21

we have the best curriculum. Oh definitely. Oh

21:23

it's because the other stuff is dry boring

21:25

and not even right. Ours is fun funny

21:27

and is correct. And actually teaches you how

21:29

to win with money and avoid debt instead

21:31

of accumulate it. Here's how you build your

21:33

credit score. Don't! Okay that's good that'll work.

21:35

It was easy. So there's that. Alright so

21:37

hey one of the cool things that

21:39

happens is we have companies and and

21:42

institutions and groups come alongside us

21:44

and sponsor the curriculum to

21:46

go into schools that can't otherwise afford

21:48

to pay for it. And

21:50

so we've got local businesses that do that. We've

21:52

had other groups. One of

21:54

the groups that came alongside us is the

21:56

Air Force. Now that's pretty stinking

21:58

cool. And the Air Force is one

22:01

of our big sponsors on it. And so

22:03

we've got Lieutenant Colonel

22:06

Brian Ewing from the U.S. Air

22:08

Force on the line. And

22:10

I want to talk about this a little bit. Brian and I have

22:12

gotten to spend time together a couple of times. How are you? How

22:15

are you, Colonel Ewing? Hey, I woke

22:17

up today and I'm getting paid, so life is good.

22:19

There we go, man. Well, we're honored to have men

22:21

and women like you on the payroll. Thank you for

22:23

your service. So you guys

22:25

with the Air Force have been sponsoring this

22:28

for quite a while. How did you hear about the

22:30

idea that you could sponsor the Ramsey curriculum and the

22:33

Air Force decided to do that? So

22:35

I've been following you for quite a

22:38

long time. Back in 2008 and

22:40

2009, my wife and I, we got debt

22:42

free. And thanks to your

22:44

curriculum, and we just kept

22:46

looking at that. And then seeing where

22:49

we could help, we taught, or I

22:51

should say facilitated, the FPU all over

22:53

the world, Afghanistan, Iraq, states all over

22:55

the country. And then when

22:58

I got into Air Force recruiting, I said,

23:00

but man, how can we do something better

23:02

and do it for the youth and get

23:04

upstream of, you know, before people get into

23:06

those troubles? And so, yeah, I

23:09

was talking with your folks there, the education

23:11

team, Ryan Davis, Jeff Martinez and team. And

23:14

they told me about this foundation

23:17

of personal finance and said, hey, we have

23:19

this. And if you guys want to

23:22

come alongside as you can. And

23:24

so a couple years ago, we said, well, let's dip our toes

23:26

in the water. And we

23:28

sponsored three schools there in the

23:30

Tennessee area. It went amazing. And

23:33

we had such great results. We said, well, let's expand

23:35

it over to Oklahoma and a couple other states. We

23:38

went to 10 schools. And in this

23:40

past year, we just went crazy with it. And,

23:42

you know, said, hey, we want to go after

23:44

about 100 schools. And we were

23:46

able to sponsor 92 schools, thanks to

23:48

your partnership. Wow. Well, thanks

23:50

to your partnership. We appreciate you, Colonel Yellen.

23:52

Get the Air Force coming alongside. That's

23:56

92 schools. And if you had, that's a

23:58

thousand students probably or more. that

24:00

are going to go through this curriculum because of you all.

24:02

And in the process, they're going to hear about the Air

24:04

Force and find out that if you want

24:07

to go to college debt-free, the Air Force can

24:09

cause that to happen. Right? And so they learn.

24:11

It's a good partnership in a

24:13

lot of ways, right? Yes, sir.

24:16

I think it's a phenomenal partnership. You know,

24:18

I've been in schools and homes that you

24:20

name it all over, you know, everything, all

24:22

over the country. And what I hear from

24:24

these young people is they're hungry, right? They're

24:26

hungry for information. They're hungry for opportunities. And

24:28

I call it the, you know, it's kind

24:30

of like a dog with a cone on

24:32

his head after a surgery or something. We

24:34

have this cone of knowledge that

24:36

we just don't know about. We know what mom

24:38

does and dad does if you're lucky enough to

24:41

have both of those and maybe a teacher. But

24:43

what we want to do is open them up

24:45

to take that cone off and tell them about

24:47

different opportunities, both on the educational, the job opportunity

24:49

side, and whether they come in the Air Force

24:51

or not, let's set them up for success. And

24:53

the teachers and the counselors are saying, hey, Air

24:56

Force, come talk to my students. And so everybody

24:58

wins in this from the student to the parent

25:00

to you guys to us. I mean, our communities

25:02

are better because of this partnership. I love that.

25:04

And the ripple effect, Colonel is amazing. I just

25:07

met someone yesterday. I was at, you know, the

25:09

line of the coffee shop and she said, hey,

25:12

are you the guy from that Ramsey curriculum? I went, yes.

25:14

She said, I love your stuff. I was able to pay cash for

25:16

a car because you guys I learned so much

25:18

and budgeting. And so the ripple effect, we'll never

25:20

know as these people start families and, you know,

25:22

affect their communities. So thank you for what you

25:25

guys do in the big part you play in

25:27

that. Thank you. And yes, sir, all of the

25:29

businesses out there across America that sponsor Air Force

25:31

is one of our larger sponsors with 92 schools.

25:33

But all of you businesses that sponsor out there

25:35

and cause maybe the high school you graduated from

25:37

you make sure those kids get the curriculum, you

25:39

know, that kind of thing. A lot of you

25:41

jump in, you can get in touch with us

25:43

and jump in if you're out there

25:45

listening and want to join this crusade of

25:47

teaching the youngsters. I

25:50

kind of have this idea if we could teach them all

25:52

to be financial literors, it could possibly change

25:54

the nation. It'd be one of the things

25:56

that did anyway. So very cool.

25:58

And so Colonel Ewing, thank you

26:00

so much. Thanks for the sponsorship. Thanks for your

26:03

personal friendship. Thanks for your heart

26:05

and for your service for this nation. And we

26:07

really, really appreciate you guys coming alongside us. And

26:09

thanks for taking a little time with us. Hey,

26:12

thank y'all so much. You know, like I said, I

26:14

hope this is, as I've said to your team before,

26:16

I hope we keep this relationship going and if we

26:19

can grow it in any way. And if, like you

26:21

said, if people want, there's schools out there that want

26:23

it. Hey, we've got a little bit of money left

26:25

in the coffer, believe it or not. And we'd love

26:27

to sponsor more schools. So Air force.com

26:29

or however they want to reach out to us,

26:32

to your team or to us, we'll

26:34

be happy to grab some more schools so that we can

26:36

keep this going. Well, if we haven't spent

26:38

all your money, we'll find a way to do it, brother.

26:40

We're about to break the Air Force website. Here we

26:43

go, man. That's awesome. Yeah, go to

26:45

ramseysolutions.com/sponsor. That's where you would go. If

26:47

you're a teacher and you need the curriculum, Air

26:50

Force just offered to sponsor it for you, maybe.

26:52

You got a handful more, because apparently we need

26:54

to get over 100. We only got 92, so

26:57

there we go. Dave likes round numbers. Yeah,

26:59

well, apparently Colonel Ewing does. I'm just saying,

27:01

and we don't argue with him. We salute

27:03

when the Lieutenant Colonel comes in the room.

27:05

You salute, buddy. That's how you do it.

27:07

So, and we appreciate you in all seriousness.

27:10

And if you want to sponsor or help

27:12

these kids out, ramseysolutions.com slash sponsor will do

27:14

that. By the way, in honor

27:16

of this month, we're giving away for

27:18

our teacher appreciation giveaway, Ramsey Education is,

27:21

one teacher is going to win a $5,000 vacation. You

27:24

don't have to be teaching the curriculum. You just

27:26

have to be a teacher in the classroom, not

27:28

a homeschool teacher, a real, a teacher in the

27:30

classroom. You homeschoolers are real teachers too, but I'm

27:32

talking about classroom teachers, okay? So

27:35

$5,000 vacation for one, two

27:37

more teachers are gonna win a $3,000 vacation. No

27:40

purchase is necessary. To register

27:42

for that, go to ramseysolutions.com/

27:45

teacher. And we all know a teacher, so

27:47

send them a link to ramseysolutions.com/teacher and say,

27:49

I hope you win. That's cool. So

27:52

someone in line, a youngster,

27:55

you work in the register. She had just, oh, oh,

27:57

so she's a high schooler. Oh, she is currently. in

28:00

high school. Yeah, she said, hey, last year I took the

28:02

curriculum. And so I run into these people

28:04

all the time. One guy, I was in a Target once

28:06

and he just yelled at me, Dave Ramsey. And I went,

28:09

not me. Sure, George Campbell. But I knew exactly what

28:11

he was saying. And again, I went, how do you

28:13

know? He said, I went to the curriculum. And

28:16

they're actually enjoying it. They're engaging with it. I

28:18

did a Zoom call with a class this week,

28:20

you know, 60 students out there asking questions and

28:22

the teacher's been doing this for 15 years now.

28:25

He's been teaching this stuff. And

28:27

it's just amazing the impact we can have on this

28:29

next generation to be the preventative medicine. Instead

28:31

of the emergency surgery you've done on the show for

28:33

30 years telling people to amputate the Tahoe. So I

28:35

walked in, Sharon and I were dropped by Best Buy.

28:38

She was looking at a washing dryer. And

28:40

so we go in there Sunday afternoon. There's nobody in

28:42

there. It's right before closing time. And we walk

28:44

in, there's a young guy, like 16, 17

28:47

at the front. They've got

28:49

greeters or whatever. How can we help you or whatever? And

28:51

I'm like, Washington, where are you? Point that way. You're

28:54

Dave Ramsey. I'm like, good gosh, you're 16.

28:56

How do you know that? He goes, curriculum. Same

28:59

thing. I went to your high school curriculum. And

29:01

he goes, and your YouTube stuff, man, it's great.

29:04

And so we get ready to leave. We walk out there.

29:06

There's a girl standing beside him, also 16, 17. She

29:09

goes, I'm so into your YouTube. And

29:11

I'm like, I loved it. My wife said, you're

29:13

just a YouTuber now. That's all you are. That's

29:16

it. The Bono of Personal Finance. Used

29:18

to be CATS chasing lasers. Now it's bald guys. There

29:20

we go. YouTube has moved

29:22

along. Whatever keeps you relevant. There you go.

29:25

This is the Ramsey Show. I

29:30

saw some recent financial statistics and

29:32

there was some pretty troubling news.

29:35

When families were asked how long

29:37

it would be before they faced

29:39

financial hardship, if a spouse died,

29:41

nearly one third said they'd be

29:44

in trouble immediately. Another

29:46

44% said they'd be financially drained within

29:48

six months. People It does not have

29:50

to be this way. Some Life insurance

29:52

plans are just plain cheap and companies

29:54

have made it even easier by not

29:56

requiring exams in many cases. There Really

29:59

is No. No excuse to

30:01

leave your family in this situation

30:03

by not having life insurance. This

30:05

is why I talk about Zander

30:07

Insurance every day as they are

30:09

committed to protecting families with the

30:11

only products that I recommend and

30:13

their team keeps the entire process

30:15

simple and affordable. Got us and

30:17

about Tom for quick online pricing

30:19

or call Eight hundred three five,

30:21

Six Forty to eighty two. This.

30:24

Has to be a priority. If.

30:26

Your family is in the situation. You

30:28

need to get this done. By

30:32

serving with Us America towards Camel Ramsey

30:34

personality of or cohost George there is

30:36

a way possess the our listeners. A

30:39

viewer can help us and we need

30:41

their help We do. What is that

30:43

when. Will. It would be

30:45

subscribing to the so what else. Following.

30:48

Following the So lighting commenting,

30:50

engaging, sharing. clicking. The buttons.

30:53

That's it. The. Buttons all of

30:55

them The Podcast The You Tube Buttons.

30:58

Was. At What Is It Mom. Does. Alone

31:00

he calls it the internet's. Oh gosh,

31:02

the inner web. the interview outdoor men are

31:04

webs that the you tube things to make

31:06

some suited for years more than one to

31:08

the you tubes. there's many now and so

31:10

I'm leaving. Really doesn't matter what purpose do

31:12

you think it does it over blessings I

31:14

think it as the anger the use of

31:16

America says while I'm off. make him feel

31:18

safe. He wants to sound like on uncool

31:20

Boomer. Yes, And he's not.

31:22

He's actually caused the problem. That's the

31:25

problem. So subscribed follow leave a five

31:27

star reviews. Those one star reviews are

31:29

not helpful. You're. Just a little troll.

31:31

We know you are. I don't like this

31:33

my little troll. And so

31:36

on Lpl. and

31:38

so yeah be up be a five star

31:40

be behind our seer here i'll be a

31:42

hero five gold stars know when your first

31:44

grade five gold stars this they probably didn't

31:46

do that but i didn't wanna we're looking

31:48

at we got that's where this whole thing

31:50

came from boeing world kids they used to

31:52

give the stars millions so he would not

31:54

announced a little kid asking for stars are

31:56

you go and so and follow and a

31:59

by the way share That's a big one.

32:01

Let people know about the show. Thank you

32:03

for that. Wendy is in Phoenix. Hi Wendy.

32:05

Welcome to the Ramsey show Thank

32:08

you so much for taking my call I'm

32:11

slightly terrified to talk to you, but I'm

32:13

just me it's just me when they don't worry Well,

32:17

we'll let George be nice to you. I Know

32:20

I hear you telling people what a mess. They've made

32:23

of their lives now. They're stupid and I know you're

32:25

going to get a me I

32:29

Want to be nice to you Wendy, what's up?

32:31

What'd you do? Okay,

32:34

so my husband and I have $320,000

32:39

worth of student loans And

32:43

it's just growing Wow, who's the

32:45

doctor in the last He's

32:48

a foot and ankle surgeon. Oh, that's good and

32:52

And so he does make he

32:54

does I know he said he has a

32:57

big shovel good Okay, but we

32:59

didn't feel like that because everything goes towards

33:01

his bet that keeps growing What's

33:04

he make um for the longest he

33:06

makes 180,000 you just get out No,

33:12

no, it feels low

33:15

for a surgeon. Yeah, really Well,

33:17

he's and even tonight tree. He's a foot ankle

33:20

surgeon. I know But they

33:22

don't charge Okay,

33:32

so let's let's pretend that he's making 200 cuz

33:34

that sounds low. Okay good 100 I do do

33:36

you work outside the home I work

33:40

part-time With

33:42

special needs. Okay, and thank

33:44

you. That's wonderful and you've got three 320,000

33:48

student loan debt from his getting

33:50

his MD and what else do you have in debt? Well,

33:55

we do have two cars that we

33:57

are planning on paying off Yeah,

34:00

How many? Leona? Two cars? Or

34:03

it's twenty total. twenty between the two. I'm

34:05

okay. What else to? yeah. That's

34:09

it. Will enter. Markets and how much the own

34:11

your mortgage. On.

34:13

Four hundred. And it knocks. On.

34:17

Sale. Will you haven't done too bad? as

34:19

a lot of people when they graduate from

34:21

med school, get. when I called Doc I'd

34:23

us because they've been holding their breath for

34:26

sixteen or seventeen years doing nothing but going

34:28

to school and I graduated. Go to that.

34:30

I'm a doctor. I'm going to go buy

34:32

a bunch of crap I can afford and

34:34

that's what I usually do that Doc I'd

34:37

us. And so they buy a house or

34:39

can afford to B M W years and.

34:42

And a Mercedes as a spare and I'm

34:44

and Sovereign on vacations and set still have

34:46

for years as margin instead loan debt. you

34:48

didn't do that, you only got twenty thousand

34:50

dollars in part that that's goods. ya been

34:52

fairly fairly conservative so but you're making two

34:55

hundred a year so how much can you?

34:57

So it's a bad if you get on

34:59

beans and rice. Well

35:03

that's cool. I selected are unpleasant nice

35:06

and it's I'm I'm not sure I'd

35:08

say. A lot

35:10

of things. That were

35:12

paying for our kids. Aren't

35:15

covered with insurance? Or what? What?

35:17

What? What? You have Special needs, children

35:19

yourself. Or. I

35:21

do Yes, other than three of

35:24

my kids have struggled with. Depression,

35:27

anxiety, suicidal ideations and so a lot

35:29

of a lot of fired or disciplined

35:31

money goes straight sets there is could

35:33

not out at now is covered bites

35:36

and you end up getting on. Now

35:38

that's part of the topic. I'm in New York

35:41

that your hands full. So. How old

35:43

are you Got us into it? And.

35:47

I'm also forty forty three felt I

35:49

said and you have three children and

35:51

he has remained is are they your

35:53

as a previous marriage. For

35:56

itself, Bank and sesame. Seeds.

35:58

And then the other three. Struggle with

36:00

and closed and. There

36:03

are some might have been a night

36:05

like Will Own Leave and First Marriage.

36:08

And anyway so slightly I got me

36:10

has been on board as you read

36:12

your blog and to see would consent

36:15

to just make the minimum payment and

36:17

in in can be throw him in

36:19

and. Of. And

36:21

born with like that or got pinch my know

36:23

how can we best serve you to Damien. Okay,

36:27

okay so I would like to sell. Our

36:29

home. Elements, It's increasing

36:31

so much value on clitoral

36:33

estate for one point one

36:35

and at we haven't A

36:37

few comps and a few

36:39

real answers telling us that

36:41

we won't be able to

36:43

sell it and let me

36:45

put in a backyard and

36:47

I. Am. I that is telling

36:49

me. Not. To listen to them and

36:51

just. As. Sell it as

36:54

is. Because. We don't make enough to

36:56

wipe out our student loans. have the three

36:58

to six months. Or a financial

37:00

reserves bit of work for a while and and

37:02

of. Third, I'm global

37:04

wealth and in Steve Irwin which is

37:06

you are a home with a fifteen

37:09

year. I. Mean, I would do

37:11

that as a last resort. Really

37:14

not as a first resort is moving

37:16

is very expensive and you do your

37:19

you have to replace it with another

37:21

place to live and you done a

37:23

lotta kids you need room for six

37:25

I would not do that until the

37:27

to have you had sat down and

37:30

on your every dollar budget together and

37:32

gotten some piece. About

37:34

where the money's going because in

37:36

talking to you it feels very

37:39

chaotic. There's

37:41

not pass on the subject and it's

37:43

going everywhere. Feals out of control and

37:45

so the sewing of the home feels

37:48

like a desperate slice of a leap

37:50

a lunge. Rather

37:52

than a carefully thought out wise decision because

37:54

we've done everything else we can do and

37:56

we're stuck. Am I

37:59

missing something? Roka.

38:02

Night. That's where all the emotions coming from

38:05

is the chaos in the sense of hopelessness. There's

38:07

no, no, I can't see a light it in

38:09

the tunnel unless it's a train coming at me.

38:11

So I want the two of you to sit

38:13

down together. Before. You give up

38:15

your home. And. Lay

38:18

out and say okay, we're going a budget for.

38:20

The. Therapist We're gonna budget for

38:22

the special need are going a

38:25

budget for. Food. Shelter, water,

38:27

clothing, transportation, runway, all that at the

38:29

two of you together. And then we're

38:31

going to see how much of this

38:33

that we can knock offs. And oh,

38:36

by the way, you're probably gonna pick

38:38

up some hospital chefs and thanks Honey

38:40

on the weekends and get your income

38:42

from one eighty to two eighty. And.

38:45

So we can knock this out quick and

38:47

keep our homes because I think that that's

38:49

probably really what needs to happen. But.

38:51

Until you've worked a plan that the

38:53

two of you are working together and

38:55

you're making all the progress you can

38:57

make a new, squeezed every sacrifice out

38:59

of that budget that you can't and

39:01

you've worked that plan for for five

39:04

months and you still aren't making progress

39:06

until you've done that. I. Wouldn't

39:08

sell their. And part of that

39:10

ominous we're going to give to every dollar premium

39:12

and it's gonna be real symbols gonna take you

39:14

about a half hour for the first one. Get

39:16

the bank statement. You and your husband together list

39:19

out all the expenses that could happen in the

39:21

next month, list at all the income that's coming

39:23

and it's probably going to be more incomes and

39:25

you realized and more expensive than you realize but

39:27

that only give you a picture reality and help

39:30

you take the next steps. Stop investing for retirement,

39:32

stop going out to eat. Stopped.

39:34

Going on Vacation. Write.

39:36

It all down. On. A You're just stuck

39:38

and now we're not gonna yell at you, were gonna help

39:40

you. are christ and ya can do

39:42

this wednesday i think you've got numbers

39:44

that will do it on i don't

39:46

know what you're spending always various issues

39:49

with the children but other than that

39:51

your budget sounds very doable sandwiches a

39:53

dig an and really put numbers to

39:55

all of these issues and then see

39:57

where that leaves your family if after

39:59

doing that for five or six months

40:01

and you're from a point of

40:04

peace you make the decision to sell the house

40:06

I would. This is the Ramsey Show.

40:12

Live from the headquarters of Ramsey

40:14

Solutions it's the Ramsey Show where

40:16

we help people build

40:19

wealth, do work that

40:21

they love and create

40:23

actual amazing relationships. Number

40:26

one best selling author of the book Breaking

40:28

Free from Broke and the hottest

40:31

YouTube show out there George Kamel

40:33

with a K Ramsey personality. He's

40:35

my co-host today. Open phones at

40:38

888-825-5225. Kristen

40:43

starts this hour off in, well

40:45

I'm going to have to push the right button, there

40:47

it is, Kristen's in Syracuse, New York. Hi Kristen how

40:49

are you? Hi, good

40:51

thank you so much. Good, how can

40:53

we help you? So

40:56

I'm wondering if I should go back to

40:58

nursing school to get my nurse practitioner degree

41:00

this fall. I keep going

41:02

back and forth because I had my second baby

41:05

a few months ago and I

41:08

went back to work part time. I've been back

41:10

for about a month and I was full time

41:13

before and I feel like

41:15

I'm in a sweet spot. I feel

41:17

happier at work. I feel like more

41:21

patient and kinder with my

41:23

patients. I feel like life is

41:25

more manageable than when

41:28

I was full time after I had my first baby.

41:31

So I'm nervous to take on

41:33

like another endeavor at this time.

41:38

Why would I? Oh well

41:40

I mean I don't want to do bedside nursing forever.

41:42

I would like

41:45

to become a nurse practitioner and I mean

41:47

it would be less. But

41:51

to justify the expense you'd be full

41:53

time. Oh well

41:57

my dad offered to pay for it so I

41:59

feel like I'm so grateful for that. Still, you're going

42:01

to have to go do the work. He's

42:03

going to pay for it. And to justify the expense

42:06

of doing this, you would want to be full time.

42:10

Oh, yeah. After

42:13

I get the degree, yeah, working part-time. And

42:15

you're telling us they're happier part-time.

42:17

So there's some conflicting views here.

42:20

So what do you actually want to do? I

42:24

mean, that's what I'm trying to figure out. I

42:27

mean, I'm going to, I don't know how it will be. I

42:30

want to set my family up for success in the

42:32

future so that- Well, is this a financial

42:34

thing? Do you guys need more money? I

42:42

mean, I would

42:44

like to have more money to be able to- What

42:48

does your husband make, Christian? Well,

42:51

he probably makes the

42:54

past few years like 25 to 30. And

42:56

then I've brought in like 60. And

42:58

I'm very fortunate because I have a lot of

43:01

support from my parents. So I'm debt

43:03

free. Like, my

43:06

mom- How old are you? I'm

43:08

33. Okay. Why is he only making

43:10

25? He

43:14

could make a lot more. I kind of- What

43:16

does he do? He's

43:18

a builder. Full time?

43:22

No. No. I mean, I've been trading

43:24

off on childcare, but he

43:26

definitely could work a lot more. I've been encouraging

43:29

him to work a lot more. I

43:31

feel like he was kind of raised

43:35

by the

43:37

mindset of just making enough to get by,

43:39

just making enough to get by. Once you're

43:41

33, it's not your parents' fault. It's your

43:43

fault. Right. I don't

43:46

care how he was raised. He ain't working much. See

43:51

the way he got to not working much is his

43:53

parents weren't motivated people. The family were people

43:55

that sat around, did as little as they could do. But

43:57

it's time to grow up now. You got kiddos. and

44:00

he needs to get his butt in gear. Yeah,

44:04

a lot more than you need to go back to school. Are

44:06

there other jobs you can do? Here's the net

44:08

result, okay? Your husband sits on his thumbs, you're

44:11

working part time, and you're freaking grownups

44:14

who live off your parents. Yeah.

44:17

That's the net result. Your mom and dad ought to cut

44:19

you all off so you could grow up. Mm-hmm.

44:23

Y'all need to step up. No, you don't need to

44:25

go back to school in this setting because you're bailing

44:27

this whole situation out because nobody's

44:29

doing anything but you. No,

44:31

I think we need to address his work

44:34

career aspirations, and he needs to go

44:36

be somebody. You can

44:38

pick up more hours as a nurse, and

44:41

if everything's rocking and rolling and you're quit

44:43

taking money from your parents and you're running

44:45

your own lives and you're doing pretty good

44:47

and you decide, hey, I really ... I

44:51

want to throw my shoulders back. I want to be

44:53

a nurse practitioner. I really want to go do

44:55

this. For me, not just because

44:58

my husband doesn't work much and not

45:00

because my dad's willing to pay

45:02

for it. Good Lord. No,

45:04

how about you want to go be somebody? That's

45:08

when you should go do it. Yeah, I think we

45:10

need a bigger reason here than just like, well, I

45:12

want to set up my family for success. Not, but

45:14

no, it's not. That's

45:17

code for my husband doesn't make any

45:19

money and my mom and dad give us money. That's

45:22

what that's code for. Y'all need

45:24

some independent success. Yeah, yeah. You

45:27

guys want to get lined up, get yourself going.

45:30

You have the ability with a nursing degree to work as much as

45:32

you want to work or as little as you want to work. Until

45:36

you're running that through and he's got

45:38

his career off and going and

45:40

his work ethic issues addressed and you guys get off

45:42

the dole from your mom and dad, and

45:45

that's not a blessing. It's enabling

45:49

at this point. Yeah, y'all need

45:51

to ... It'd be good for y'all. It'd

45:53

be good for your mom and dad, be

45:55

good for your husband to have the dignity

45:57

of running the lane by yourself, putting the

45:59

... ball in the hoop and go,

46:01

we just scored. That's important

46:03

for people. In the sense

46:06

of I'm in control of my

46:08

destiny. I know it and I care about it.

46:11

Um, that kind of mojo is what will carry you to

46:13

actual success. Yeah. And then when you got that stuff going

46:15

and you call in and you go, Hey, I want to,

46:17

I want to step up one more level. I want to

46:20

level up and be a nurse practitioner. Yeah, we can talk

46:22

about that. And, um,

46:24

and then if you want, at that point, if

46:26

you want to accept a gift and your dad wanted to

46:28

pay for that, that's fine. But this is all just masking

46:31

over the fact that y'all aren't dealing with

46:33

it. And that's, that's what

46:36

I want y'all to do for your sake. Doesn't

46:38

affect us, but that's what we take calls. A

46:40

lot of people want to go back to school

46:42

because they're sort of at in this conundrum life

46:45

crisis. And they just think going to school will

46:47

hopefully solve everything. Yeah. And it's rarely the right

46:49

next step. It just

46:51

seems to be the thing I can run

46:54

to to escape because we've told people that

46:56

you automatically make more money if you increase

46:58

your education. And that's not true. Now it

47:00

would be true in her case because nurse

47:02

practitioners do make more. Okay. But,

47:06

but you know, this general vague thing of, okay,

47:08

so the answer to everything is go back

47:11

to school. No, really not. Not, not unless

47:13

you're already successful. And then you

47:15

want to just add some tools to your already successful

47:17

belt. Um, or you're going to

47:19

take a complete left turn and go into something

47:22

that requires some certifications that you don't have, then

47:24

you can do that. But, you

47:26

know, all college is

47:28

not good. The

47:31

right college, the right study

47:34

in the university is excellent.

47:37

But when you get a degree in left-handed

47:39

puppetry or German polka history, and that's not

47:41

her, she's not trying to do that. And

47:44

you know, you're going to end up a deeply

47:46

in debt barista. That's what

47:48

you end up. And so all college

47:50

is not good. That's not, you

47:52

know, that's a misnomer. We've told people a lie

47:54

about that. And then we financed it and we

47:56

have a 17 year old,

47:59

a hundred thousand. and dollar debt who's

48:02

never done anything. Then Sally Mae and the colleges go,

48:04

we can make a lot of money off these people.

48:06

Yeah. Let's go raise tuition.

48:09

Your government's screwing their constituency. And

48:12

now we got a trillion and a half

48:14

in student loan debt. A trillion. Can

48:17

you even spell that? This

48:19

is The Ramsey Show. Thanks

48:27

for hanging out with us America. We're so glad you're here.

48:29

Your phone's a triple 8, 825-5225. George

48:34

I'm so pumped about this total

48:36

money makeover weekend that we are

48:39

doing. It's coming up in just a

48:41

few weeks, May the 10th. And

48:44

man it's absolutely, it's

48:47

going to be all The Ramsey Personalities, May 10th

48:49

and 11th, all day Friday, or

48:51

Friday afternoon, all day Saturday. And

48:53

we're going to walk you through everything from the

48:55

very beginning all the way through wealth and generosity.

48:58

By the time you leave, you're going to be so jacked that you're going

49:00

to know you can do this. Yeah, whether

49:02

you're crushing it with money or it's crushing you,

49:05

this event is going to give you some inspiration,

49:07

motivation, some knowledge. And again, we're

49:09

covering of course the core Ramsey principles, but

49:11

we also have Ken Coleman talking about how

49:13

to make more money. And Deloni talking about

49:15

how to ease anxiety. Rachel talking

49:17

about comparisons. And I'll be talking about home ownership,

49:19

how to pay off the house early, how to

49:21

get a house. Dave's going to

49:23

be hitting baby steps, generosity, investing, the debt

49:26

snowball, all of the market. Rachel will be

49:28

speaking as well. Everybody's going to be there.

49:30

We're going to do a lot of Q&A

49:32

with you guys. It's here on campus at

49:34

Ramsey at The Ramsey Live Event Center. And

49:37

we want you to be with us. The

49:39

tickets are not sold out yet, but they're

49:41

very close. It's May 10th and 11th. The

49:44

Platinum Plus is gone. The

49:46

Platinum, there's just a couple of them. The

49:48

VIP, there's a few of. And then

49:50

General Admission is available as well. So we would love

49:53

to have you with us. Be there.

49:55

Don't miss this. We're going to walk you through every dollar. We're

49:57

going to walk you through everything you need and bring. There

50:00

you are Lucky spouse has been the weekend.

50:02

You're gonna leave all knit together, ready to

50:04

go. and you can even bring your friend

50:06

who thinks her crazy because you're doing this

50:08

Ramsey stuff and but the time I leave

50:11

their own be crazy. Maybe you maybe pay

50:13

for their ticket. Amazon Jealous

50:15

or General Sally others though so it's can

50:17

be good time. We got Smart Money happy

50:19

hour live with his with the audience on

50:21

Friday night and if you want to come

50:24

even earlier, come on the Ramsey. So Erotica

50:26

on the glass all be hosting that day

50:28

so that may be a selling point. may

50:30

not be high. That gets a big one.

50:33

Second: Outfox Ramsey solutions.com Slice of Vince Partners

50:35

in Bozeman, Montana High Parker Welcome to the

50:37

Ramsey show! Date:

50:40

Are you doing better than I deserve? What's

50:42

up? To.

50:44

So I wonder. and I. I'm

50:46

self employed. I'm twenty three years

50:48

old. I've got! Ah!

50:52

To one he two hundred dollar months

50:54

mortgage payments. Ah that's just me I

50:56

don't rent or any bedrooms are not

50:59

than And then I have about a

51:01

hundred and sixty thousand dollars and consumer

51:03

debt. On it's a couple

51:05

drops, a bunch, a trailer, that bunch

51:08

of equipment. It's all for my bitch.

51:10

It'll make be months. Almost.

51:12

Caught the. Access off.

51:14

On on. Really? I got a few Lone

51:16

Star. I'm starting to get to the point where

51:19

I could pay him off. Ah

51:21

here. You know,

51:23

sometime in the next six months I'm

51:25

starting to buckle down and are not

51:27

buying anything new. I'm trying to pay

51:29

stuff off on working. Eighty hours

51:32

on a white Weeks you know,

51:34

American and. Ah

51:36

out your for high point your profit

51:38

gonna be in this calendar year. On.

51:42

This year on it's looking like I'm going

51:44

to take home around two hundred and fifty

51:47

thousand. Oakland. And.

51:50

The questions now a lot. So

51:52

on to the point where I could use

51:55

an employee. I'm more work than I do

51:57

get done on myself a ball by. With

52:00

that said, if I were to hire a guy, I need

52:03

to buy another pickup. No, you don't.

52:05

You got enough junk. Well,

52:09

we, you know, primarily I drive in

52:11

and out of job sites. And

52:14

right now I can't, I actually,

52:17

I have enough for myself, but

52:19

I've been having one of

52:22

my brothers help me, but I'm, you know,

52:24

sitting at home trying to take care of stuff.

52:27

If I were to full time him, I

52:29

would need something. I would be buying it

52:31

with cash. You

52:33

know, $160,000 in debt on a bunch of

52:35

other equipment. Correct.

52:38

Yeah. And you

52:40

keep figuring out ways to not pay

52:42

that off. No.

52:44

I want, what's wrong with just hiring a guy that has a

52:47

truck until I'm go get to work time? I

52:50

guess it's just the liability aspect of it.

52:52

That's not a liability. Just

52:56

if something were to happen to it, I don't want to, I

52:59

guess, have him. It's also really hard to find

53:01

a good employee. I had, I had one actually

53:03

a guy in the same position as you were.

53:05

That's a different subject than he is a truck

53:07

or not. Yeah, fair.

53:10

Yeah. How much money do you have? Right

53:15

now I only have about $15,000. Like

53:18

liquid. Yeah. 15, one

53:20

five. Because it, I'm getting eaten up

53:22

on these payments. So that's why I've been trying to

53:24

sell. Are you 28? Okay.

53:28

All right. Well, cause

53:30

you sound like you're trying to out

53:33

earn your stupidity. Yeah.

53:37

I did that a lot. I did that all

53:39

through my twenties. It didn't work for me.

53:41

You got, you got to quit out. I mean, cause

53:43

you, you're not afraid of hard work and you know

53:46

how to make money. You just hadn't had to figure

53:48

it out, how to keep any of it yet. Yeah.

53:51

Yeah. That's

53:53

what I'm working dude. And you're a great entrepreneur cause

53:56

you got about six ideas every minute and a half.

53:59

I think you're going to be a. Amazing. I think

54:01

you're gonna really make a lot of money in your life But

54:03

you've got to tame that monster of thinking you

54:06

can out earn your stupidity So here's what I

54:08

would advise you to do as the owner

54:10

of a brand called entree leadership Or we

54:12

coach small business people all the time. I

54:16

Would hire someone if that

54:18

the work that they are doing is going

54:21

to make me more

54:23

than they cost me

54:25

Okay, so you said I can't

54:27

get all the work done So you're gonna be able

54:29

to get the work done now and

54:31

make that money that you couldn't make

54:34

if you it was just you By yourself that

54:37

justifies a higher from a

54:39

business perspective And

54:41

right right and what will it

54:44

cost to hire that person? What kind of a sound

54:46

what kind of an income? What you need to pay

54:48

them? Oh Gosh

54:53

I'd be shooting tip for you know, 40 hours

54:55

a week and you know 25 to 30 dollars

54:57

an hour depending on You

55:01

know just depending on experience 55

55:03

grand somewhere in there Yeah,

55:05

right. So if you buy if you hire somebody for $50,000 a

55:07

year and You

55:11

say I'm gonna pay you I'm gonna

55:13

pay all of your gas and I'm

55:17

going to pay In

55:19

addition to that $200 a month for you to

55:21

use your truck You

55:24

got it then you don't have to

55:26

buy a truck Yeah,

55:28

that's a better idea Yeah

55:32

And then and and later on you may want

55:34

to buy a truck now. What is all this

55:36

other equipment? So

55:39

like a lot of them a lot of

55:41

them are like dump trailers I've

55:43

got 14

55:45

of them and I rent them all out on a monthly

55:48

basis To contractors throughout

55:50

the Valley, but I still owe someone

55:52

those just because I didn't When

55:55

I started this up when I was 20, I didn't

55:57

really have any savings. You

55:59

still barely have savings. How

56:03

much is change? I do now and I don't have

56:05

much. But I got loans to get

56:12

myself started and get my foot in the door. Yeah and then

56:15

you went big. Yeah and then

56:18

I keep trying to like you said out. You're

56:20

really good at justifying every purchase as long as

56:23

you can tell yourself it's going to

56:25

make you money. Because here's the thing about it. Here's the

56:27

wonderful thing about an entrepreneur. We never think it's going to

56:29

fail. Yeah

56:31

and that's me. I never do

56:33

anything that's going to fail. Yet 90% of my ideas actually

56:36

in hindsight sucked. I

56:40

made all of my money and my brand impact

56:42

on the Dave Ramsey brand over the

56:44

last 30 years on about 10% of my ideas.

56:46

I survived the other 90% of my brilliance

56:49

which was awful. And so that

56:52

you know it's painful. And when you go

56:54

in debt you magnify the size of your

56:56

mistake. So what I would also prescribe for

56:58

you then sir, I'm going to

57:00

send you a copy of the book Entre

57:02

Leadership which is a number one best seller on

57:04

how I grew this business from a card table

57:07

in my living room to what it is today

57:09

which is a 300 million dollar business

57:11

with 1100 team

57:13

members. Okay I'm going to send you that

57:15

copy of that book free. Okay thank you.

57:17

Now the two things I want you to do

57:20

is don't buy a truck hire a guy with

57:22

a truck Parker. And then the second

57:24

thing I want you to do is you are also good

57:26

at living on nothing because you work all the time. So

57:29

I want you to take every dollar you can find and

57:31

start throwing it at list these debts on these on

57:34

these all your debt equipment and everything smallest

57:36

to largest and attack it the smallest one

57:38

when it's going to attack the next one

57:40

when it's going to attack the next one.

57:42

And I want you to clear all of

57:44

this debt in one year. Because you know you're

57:46

23. Just go do it. You're

57:50

amazing. You're amazing. Now

57:52

don't screw this up. Go

57:55

do it. This is the Ramsey Show. Thank

58:02

you for joining us America. We're glad you're here.

58:04

Open phones at 888-825-5225. Thanks

58:10

for hanging out with us. George Campbell, Ramsey

58:12

Personality is my co-host. Sarah is

58:14

in Pensacola, Florida. Hi, Sarah. How

58:16

are you? Hi.

58:19

Good. How are you?

58:21

Better than I deserve. What's up? Well,

58:25

I'm calling because

58:27

I recently... I'm

58:29

pretty much a single

58:32

married mother of two and

58:36

I just

58:38

recently had to get a restraining order against

58:41

my husband in January. Either

58:44

way, I am left

58:46

with the responsibility and finances

58:48

of two incomes

58:51

now on just one. I've

58:54

done a budget

58:57

on the app, on the EveryDollar

58:59

app and I am

59:01

just consistently on the red. I've

59:03

done everything to try to bring all my expenses down

59:06

the best way I could on just

59:08

being my two kids. I've

59:10

done pretty good but what really

59:12

is it's my rent and

59:15

I can't move until my lease is up because

59:17

I don't want to break a lease. So

59:20

I'm... How much... Let me stop

59:22

a second, honey. Okay. So

59:24

a restraining order. So

59:27

he was physically abusive. Yeah,

59:31

on Christmas it was the last

59:33

straw. Yeah. So I had to

59:35

let the guys run out. How long have you been married? Five years. Okay.

59:38

Mm-hmm. I'm so sorry. Okay.

59:42

Okay. What do you make, hon?

59:45

Well, my salary is 55, 576. What do you do? I

59:48

work for United States Post Office. And

1:00:01

how old are your babies again? Six

1:00:05

and four. Is everybody

1:00:07

safe now? Yes,

1:00:10

the restraining order has a space at

1:00:12

the home, yes. And

1:00:14

well they're not magic so but

1:00:17

so far it has worked, right? Yes.

1:00:21

Why'd you hesitate? Because

1:00:26

things popped up but you know as

1:00:29

soon as I tell my dad here I'm gonna

1:00:32

call the cops he pretty much runs but

1:00:35

he doesn't make it easy for me but I and

1:00:37

what I mean by that he's not helping me. How many times

1:00:39

has he popped up? Twice

1:00:43

so far. Since January.

1:00:46

January 10th. Okay. Okay

1:00:49

so let me help you with a couple

1:00:51

things. Now sadly because we

1:00:53

help with people with financial crisis I've

1:00:55

been in these situations many

1:00:57

times in the last 30 years and

1:01:00

so I've been forced to learn a little

1:01:02

bit about it more than I wanted to

1:01:04

okay because it's a filthy horrible thing that

1:01:06

you have endured and I'm

1:01:08

very sorry for you. The next

1:01:10

time he shows up don't threaten to call the

1:01:12

cops call them put him

1:01:15

in jail okay.

1:01:17

Okay yeah. Okay. Quit

1:01:20

playing games with this guy. He

1:01:22

needs to go away. He's

1:01:25

bad. Period. That's

1:01:28

your Uncle Dave who loves you telling you

1:01:30

that okay. No

1:01:33

screwing around with this. He goes to

1:01:35

jail. He violated a restraining order. He

1:01:37

is threatening you and the children. If

1:01:39

he pops up again he's gonna pop

1:01:41

in behind bars. I

1:01:45

got you pop up buddy. I'll

1:01:47

put you put you where you can't breathe okay. So

1:01:50

I'm done with him. He

1:01:52

scum. Okay. Period.

1:01:56

And I've got to tell you that real directly

1:01:58

and real loud because he... He has told

1:02:00

you for five years two things really

1:02:03

often, and if you're not careful, you

1:02:06

start to believe them. One is that you'll never

1:02:08

make it without him, and

1:02:11

two is that he's

1:02:14

really sorry. Well,

1:02:16

he is really sorry, but

1:02:19

I'm not talking about an apology here. I'm just talking

1:02:21

about a sorry human being. Okay?

1:02:24

So he ain't sorry. He's

1:02:26

abusive. And

1:02:29

you are a thousand times

1:02:31

better than he's been telling

1:02:33

you for five years. You're going to make it. You're going to

1:02:35

be fine, and we're going to put a team of people around

1:02:38

you to make sure you do. Okay?

1:02:41

Okay. Thank you. How

1:02:44

much is the payment? Okay.

1:02:49

So we're going to have one of

1:02:51

our financial coaches serve you at

1:02:53

no cost to you. When

1:02:55

we get off the phone, we're going to hook them up with you, and they're going

1:02:57

to meet with you. And on your behalf, they're

1:02:59

going to call the landlord and tell the landlord that

1:03:02

the husband in the building has been beating

1:03:04

his wife, and she can't afford the lease

1:03:06

now that she threw him out like she

1:03:08

should have five years ago. Okay?

1:03:12

Yes. And the landlord is going

1:03:14

to have some mercy and get the house rented to somebody

1:03:16

else, and you're going to get something you and the kids

1:03:18

can afford. You

1:03:21

are not trapped, and you can make it without him.

1:03:23

You make $55,000 a year. The

1:03:26

lady that I'm talking to is articulate and

1:03:28

intelligent. Yes. Thank you.

1:03:31

Thank you. Thank you. Aren't

1:03:33

you? Yeah. The best

1:03:35

that I can, Mr. Yeah, you are. I

1:03:38

mean, everything I've heard was intelligent, didn't you,

1:03:40

George? Yes. You are

1:03:42

a warrior. If you

1:03:44

survive the crap from him, you're going to survive

1:03:46

anything. Yeah. Okay. So

1:03:49

how much debt do you have other than this lease that's

1:03:51

a problem? Well,

1:03:53

that's the thing. I

1:03:55

don't have a car payment. Good.

1:03:58

And I have... two

1:04:00

secured credit cards each for $400, but

1:04:02

I've paid them up. Good.

1:04:06

So you don't have any debt there? Convert

1:04:10

you to a debit card on that. You're not going to spend money

1:04:12

you don't have. You've got $55,000 coming

1:04:14

in. So your payments are

1:04:16

food, lights, water, shelter, what else? Mainly

1:04:21

what it is is that I'm not

1:04:24

really taking home that much,

1:04:27

see when he, in the beginning

1:04:29

and I got this restraining order, he

1:04:31

also took all

1:04:33

of our savings and money. So

1:04:36

he cleaned us out. We're also going

1:04:38

to help you contact an attorney and

1:04:41

get that back. Because

1:04:44

it's not his, it's yours. And

1:04:46

he left two little kids behind and he's not paying

1:04:48

any child support and he's going to get the benefit

1:04:50

of doing that too. Yeah, I

1:04:54

started him on, I started the child

1:04:56

support, but it takes a minute, you

1:04:58

know? Yeah. But yeah, I

1:05:00

had to go back to the end of anyone. He

1:05:02

did that in order for me to pay the rent.

1:05:04

I had to take a loan out against my 401k.

1:05:06

Okay, we're going to get that cleaned up.

1:05:08

Yeah, I'm not taking home all that. So

1:05:10

and the other thing is you probably have

1:05:13

too much taxes coming out of your check.

1:05:17

Yeah, that's another thing. Was he handling all the

1:05:19

money before? No,

1:05:24

we were both doing it. Okay. How

1:05:26

big a tax refund to get on the same page? That's

1:05:30

the thing. We owe $3,000 that one paying back

1:05:32

to. You're not. He is. Well, he doesn't have

1:05:36

legal options

1:05:48

here. He gets to pay this stuff. Oh,

1:05:53

well, he's relinquished our responsibility.

1:05:55

He doesn't get to. He doesn't get

1:05:57

to sign that. The judge. He

1:06:01

may have as a husband and a dad, but financially

1:06:04

speaking, he can't get out. The judge is

1:06:06

going to go, innocent spouse syndrome, boom. You

1:06:09

can follow a code with the IRS

1:06:12

that this debt with them is

1:06:14

a result of your husband, and

1:06:17

it's called innocent spouse. There's a whole form that does

1:06:19

it. We can help you do that too. And

1:06:22

then he gets to pay the $3,000. Ding, ding. That's

1:06:24

how that works. So

1:06:26

what you need is you need some people in your corner

1:06:28

that know how to fight some of this and get you

1:06:31

back on balance, and we're just the ones. We're going to

1:06:33

help you, okay? Oh,

1:06:35

yes, sir. Thank you. You're going

1:06:37

to be okay. You're going to have to

1:06:40

make some moves that aren't comfortable to get

1:06:42

stabilized and get a sustainable situation after all

1:06:44

this mess because you have less income now

1:06:46

to deal with. But you now have control

1:06:48

of your life again, and you're safe again.

1:06:51

Okay? Yes. And if

1:06:53

he pops up again, say, Dave,

1:06:55

I'm calling the cops. Say it. Dave,

1:06:59

I'm calling the cops. All right. There

1:07:01

you go. We love you, darling. You hold

1:07:03

on. We're going to pick up, and we're going to take care of

1:07:05

you. This is the

1:07:07

Ramsey Show. Hey,

1:07:11

friends. It's Ken Coleman, and I've

1:07:13

got some big news. The Get Clear Career

1:07:15

Assessment is now paired with my new book,

1:07:17

Find the Work You're Wired to Do. Every

1:07:19

book comes with access to the assessment so

1:07:21

you can discover who you are and how

1:07:23

you're wired. Then I'm going

1:07:25

to show you how to use your results

1:07:27

to get specific in your job search and

1:07:30

find the work you enjoy. Preorder Find the

1:07:32

Work You're Wired to Do at ramsysolutions.com/store and

1:07:34

get the audio book and

1:07:36

the e-book free. Go to

1:07:39

ramsysolutions.com/store. Thanks

1:07:43

for helping us, America. We're so glad

1:07:45

you're here. Ken Coleman's Get Clear Assessment

1:07:47

has helped thousands of people, literally almost

1:07:49

100,000 people, have taken the

1:07:51

Get Clear Career Assessment. We're excited to

1:07:54

announce his new book, Find the Work You're Wired

1:07:56

to Do, which will show you how to enjoy

1:07:58

your results and get the audio book free. specific

1:08:01

in your job search and find work you

1:08:03

enjoy. So who are you? Who you are?

1:08:05

Why you're wired that way? What you want to

1:08:08

do professionally? How to get there? And

1:08:10

the Get Clear Assessment comes with the book.

1:08:12

A code is built into each book a

1:08:14

unique code. And so if

1:08:16

you want to find the work you're

1:08:18

wired to do check this out. Take

1:08:20

the Get Clear Assessment. You can get

1:08:23

it at ramseysolutions.com store. It is happening

1:08:25

now baby. Now. So you don't want

1:08:27

to miss that. Today's question comes from

1:08:29

Ethan in New Jersey. He

1:08:31

says what is your take on car leases? I

1:08:34

view it as a quote rental expense such as

1:08:36

renting before you can afford a house. I

1:08:38

hope I'm not fooling myself but I've been driving

1:08:40

cars that are within three years old keep the

1:08:43

payments on auto pay. I drop it at the

1:08:45

dealership when anything goes wrong. The dealership takes the

1:08:47

depreciation hit and it only cost me $300 a

1:08:49

month. I feel like I can't go wrong with this

1:08:52

method. Am I right or do you see this as

1:08:54

a big scam? Oh

1:08:56

boy. Well the reason dealerships push

1:08:58

leases so hard is because it's what they make

1:09:00

the most money on. You're taking the depreciation hit

1:09:03

not the dealership. It's built into the $300

1:09:05

bubba. You

1:09:07

think you're gonna lease a car that's worth

1:09:11

20,000 bucks or 30,000 bucks and you're gonna turn it back in it's

1:09:13

worth 25 and you didn't cover

1:09:15

the five? Of

1:09:17

course you did. It's built

1:09:19

into your built into your little payments buddy. So

1:09:23

yeah. No it's not

1:09:25

like renting a house. Not at all. Nothing like renting

1:09:28

a house. It's just an alternate way of financing. It

1:09:30

is the most expensive way to operate a car. Right?

1:09:33

Yeah. I mean I talk about this in

1:09:35

the book breaking down all the ways

1:09:37

they screw you with a lease and all of the ins

1:09:40

and outs and the bells and whistles. The stuff they don't

1:09:42

actually tell you with the dealership when they just show you

1:09:44

the shiniest car in the lot and say you could drive

1:09:46

away this thing's 300 bucks. It's better than a car alone.

1:09:48

Just lease it man. That's what smart people do and

1:09:51

they're fooling you Ethan. I guarantee you're a

1:09:53

young guy. You like driving a nice car

1:09:55

but that thing's driving you and so no

1:09:57

this is different than renting for a lot

1:09:59

of reasons, and at the end of it, you

1:10:01

hand back in this car and you just get

1:10:04

another payment and get another payment. And you can do

1:10:06

that your whole life and not build any wealth. That's

1:10:09

the problem. Yeah. And you are

1:10:11

covering all of the expenses. You don't think

1:10:13

a car company is going to let you drive their

1:10:15

car around and they lose money on it. No,

1:10:19

you're covering it. And you're one

1:10:21

of their most profitable customers. They're

1:10:24

making more on you than they are on just about

1:10:26

anybody else. So

1:10:28

the best deal in the car world is

1:10:31

a two year old to three year old car that

1:10:33

you pay cash for. That's

1:10:35

the best deal in the car world. And

1:10:38

all of them go down in value like a

1:10:40

rock. That's where Chevy got that,

1:10:42

like a rock. And

1:10:44

so, you know, it's, they lose

1:10:47

their, you just lose your butt on cars.

1:10:49

That's just, it just goes with the territory.

1:10:52

And so there is no scam.

1:10:54

There is no P that can

1:10:56

be hidden under a different shell

1:10:59

that keeps that from happening. When

1:11:01

you're driving a $50,000 car in 20 minutes, it's going to be worth 40. When

1:11:06

you're driving an $80,000 car in 20 minutes, it's going

1:11:09

to be worth 60. That

1:11:12

just goes with the territory.

1:11:15

Okay. And so the trick is, is

1:11:17

to drive the thing that costs you

1:11:19

the least money in losses of value

1:11:22

and in payments and interest,

1:11:24

no payments and interest. While

1:11:28

you build some wealth to where you

1:11:31

have enough money that losing $10,000 doesn't matter

1:11:35

anymore. Because then you

1:11:37

can afford to drive something that you're losing your

1:11:39

butt on. And that's cars,

1:11:41

boats, sea-dos, side-by-sides,

1:11:45

snowmobiles, zero-turn

1:11:47

mowers, anything with

1:11:50

a wheel or a motor. And

1:11:52

don't talk to me about your $7,000 long

1:11:54

tractor while your kid's college fund isn't

1:11:57

funded. I will yell

1:11:59

at you for being stupid. it. Don't do

1:12:01

that. Okay. And that this

1:12:03

is the crap that we do in America,

1:12:05

because we're all concerned about what we drive.

1:12:08

And it's the largest thing we buy that goes

1:12:10

down in value. The old

1:12:14

boy they called here years ago and he's

1:12:16

like, Dave, my truck payments $700. So how

1:12:19

much is your house payment? I live in a double wide

1:12:21

it's 500. I said,

1:12:23

Roy, if your truck

1:12:25

payments larger than your house payment, you

1:12:27

might be a redneck. Seriously.

1:12:30

Oh my gosh. That's wild. That's America,

1:12:32

right? That's who we are. I

1:12:35

did the same stuff too when I was back. So

1:12:37

when you can justify it when you see

1:12:39

the shiny car in the lot, rationalizing, they're

1:12:41

happy justify tell you and the craziest part

1:12:43

is FTC doesn't have to, they

1:12:45

don't define a lease's debt. So they don't

1:12:48

have to federally disclose interest on these leases.

1:12:50

What you're saying is the Federal Trade Commission

1:12:52

when you borrow money on a car lot

1:12:54

requires they give you one of those disclosure forms

1:12:56

that shows you the interest rate and the total interest

1:12:58

is going to be paid. You

1:13:00

don't get one of those on a lease because

1:13:03

it's not technically debt. But

1:13:06

when I take my financial calculator and back into

1:13:08

it, the average lease is charging you about 14.2%

1:13:10

interest. It's the most

1:13:14

expensive way to operate

1:13:16

a vehicle. Tom's

1:13:19

in Denver. Hi, Tom. How are you? Hey,

1:13:22

thank you guys. I'm doing well. And thanks for

1:13:24

taking my call and for the total money makeover.

1:13:27

I know I speak for millions when I say

1:13:29

that it's helped change and heal my

1:13:31

life in the world desperately in need

1:13:33

of healing. So thank you. Thank you.

1:13:37

Thank you. Thank you. Yeah,

1:13:39

I was hoping to get your

1:13:41

feedback on I'm on baby step

1:13:43

six and wondering if it's wise

1:13:46

for me to sell my home

1:13:48

and move to work and work in a

1:13:50

different city and state in order

1:13:52

to push me into baby step seven

1:13:55

and beyond. I wanted to get what

1:13:57

would Dave say about that not unless you need to

1:13:59

do But anyway, So

1:14:02

I know hate Denver and you will want desperately

1:14:04

will want to be somewhere else in the other

1:14:07

job. Sounds much more appealing. There are other reasons

1:14:09

to move other than what you're saying. Is.

1:14:12

The right answer. I

1:14:14

would say self cost of living is a big one

1:14:16

by where you going breathing a bygone. So

1:14:19

of Amarillo, Texas and also

1:14:21

Anderson, South Carolina and Columbus,

1:14:24

Indiana, those three have become

1:14:26

a top three. Is.

1:14:28

It just you at the home. I

1:14:31

am I and I am I the only person in

1:14:33

the home and own in the home correct and have

1:14:35

what do you do. I

1:14:37

out recently. that was I

1:14:39

was expects career buttery smooth.

1:14:41

I started closing down station

1:14:43

to replace you mess with

1:14:45

contract workers so I got

1:14:47

a job as a chance

1:14:49

at Nisshin in Not or

1:14:51

coerced check It's accompanying awards

1:14:54

industrial ceramics, Poker. And

1:14:56

so what would you do if you move to these other

1:14:58

cities? Ah, that's

1:15:00

the question I was gonna ask years.

1:15:02

You'd recommend finding a job first before

1:15:04

you the singing about moving Jersey. That's

1:15:06

how I. So here's the thing. You.

1:15:09

Take you presented. the question

1:15:11

is. What I

1:15:13

do this to just become debt free.

1:15:15

Know. What? I do

1:15:18

this and become debt free because it's a

1:15:20

part of an overall strategy that I want

1:15:22

to do to make my life better. I'd

1:15:24

rather live somewhere else, I'd rather do something

1:15:26

difference. My time here is done. it's time

1:15:29

to move to one is on the things.

1:15:31

You've been researching these other cities for some

1:15:33

reason and if it's a poor As a

1:15:35

part of that, you move from an expensive

1:15:37

Denver into an inexpensive Amarillo and you can

1:15:40

pay cash for a house in the process,

1:15:42

arm and and get a career field that

1:15:44

you'd love and have a quality of life

1:15:46

in a future that you love in in

1:15:48

your mind and is all mapped out. Yeah,

1:15:51

I would do that. Map.

1:15:54

but what i meant to amarillo and and

1:15:56

not have a job and hate my life's

1:15:59

and hate mrm Also, I could say I

1:16:01

was debt free. No. Right.

1:16:05

And Tom, to be clear, are you saying you would pay cash for

1:16:07

a home in any of these new cities? That

1:16:09

would be – yeah, that would be a – by

1:16:13

far, the only option for me would be

1:16:15

to buy – pay cash for a house

1:16:17

and also keep my three and

1:16:19

six month in- How did you pick those three

1:16:21

cities? It's

1:16:24

really been over the past six years, so

1:16:26

I visited Anderson and fell in love with

1:16:28

it. Okay. And also,

1:16:30

frankly, just it's quite a bit cheaper. Well,

1:16:32

it is that, but yeah. And

1:16:35

I have a lot of family out

1:16:37

in Amarillo and also some friends in

1:16:40

Columbus, Indiana that are willing to

1:16:42

kind of work with me in terms of

1:16:44

the living situation and working situation. You

1:16:47

got some homework to do. I'd go look for

1:16:49

jobs in those areas, see what the houses actually

1:16:51

cost, see if you can actually afford it in

1:16:53

cash with the equity and proceeds, and then you

1:16:55

can make your move. Yeah, if you can build

1:16:57

a life with every component of your life that's

1:16:59

better and one of those is

1:17:01

you become debt free while doing it, absolutely

1:17:03

I would do that. You're single.

1:17:05

There's nothing holding you there. Sure. This is The Ramsey Show.

1:17:14

Live from the headquarters of Ramsey

1:17:16

Solutions, it's The Ramsey Show where

1:17:18

we help people build

1:17:20

wealth, do work that

1:17:23

they love, and create

1:17:25

actual amazing relationships.

1:17:28

George Camel, Ramsey personality is my co-host

1:17:30

today. He's the author of the book,

1:17:32

Breaking Free from Broken, number one bestseller.

1:17:36

He's also the host of the George Camel

1:17:38

show, which is a very popular YouTube show

1:17:40

on the Ramsey networks and of

1:17:42

course is the co-host of the

1:17:46

Smart Money Happy Hour as well. This hour

1:17:48

we're going to be doing a Baby Steps

1:17:51

Millionaires theme hour. Now, what does that

1:17:53

mean? It means we're going to talk

1:17:56

to real millionaires on

1:17:59

the air. find out about

1:18:01

them to see if you look

1:18:03

at them and say I could be one like

1:18:05

that one. Some of them are

1:18:07

so unusual in their situation you can't

1:18:09

be like them. Some of them you

1:18:11

have a excellent chance of actually being

1:18:13

better than they are. So we're

1:18:16

going to talk to real ones, not

1:18:18

your broke brother in

1:18:20

law with an opinion who votes wrong. We

1:18:23

don't need his help with this wealth

1:18:26

building thing. So what is

1:18:28

a millionaire? It is not

1:18:30

George someone who makes a million dollars

1:18:32

a year. That's true and it's not

1:18:34

an opinion. It's just basically

1:18:36

an accounting term when you actually look at what it

1:18:39

takes to create net worth.

1:18:41

It's what you own minus what you

1:18:43

owe assets minus liabilities. That's

1:18:45

your net worth. You don't get to decide

1:18:48

what that means. It's not up for interpretation.

1:18:50

Yeah it's a simple math

1:18:52

thing. What you own minus

1:18:55

what you owe equals your net worth when that's

1:18:57

over a million-year millionaire. Well I don't feel it's

1:18:59

not a feeling. Well no one

1:19:01

should. It's not a should. Well million dollars isn't

1:19:03

that much anything. It's not a moral construct. It

1:19:07

is an amount of money in a net

1:19:09

worth. Did you do it or not? Simple.

1:19:12

Very objective. Not subjective at

1:19:14

all. You either is or

1:19:17

you isn't. That's simple. And

1:19:21

you people that have all these political opinions

1:19:23

and all this bull crap that was taught

1:19:25

to you by your communist college professor, you're

1:19:27

confused about how this stuff works. Okay.

1:19:30

It is a simple thing.

1:19:32

It's not a, and I heard a congressman the

1:19:34

other day, of course some congressmen are dumber than

1:19:36

a rock. We know that. They say he's not

1:19:39

a millionaire. He doesn't make a million dollars a

1:19:41

year and I'm like how are you a congressman

1:19:43

and you're this dumb. So it's

1:19:45

not it's not an income amount and you

1:19:48

don't have, you're not a millionaire. You don't have a million

1:19:50

dollars cash. It's not a cash amount.

1:19:53

It's a net worth. That's

1:19:56

all it is. If you add up your retirement accounts,

1:19:59

the equity in your your home and your car, the

1:20:01

cash you have in your bank account, that's

1:20:04

it. Any

1:20:06

money or things that you could sell and turn

1:20:09

into money, that is your

1:20:11

net worth. That's an asset, right? And

1:20:13

so that's who we're talking to. Real millionaires,

1:20:18

not broke people with an opinion. And

1:20:20

how did they do it? All

1:20:22

right, let's talk to Kathleen in Minneapolis,

1:20:24

your net worth, Kathleen. Well,

1:20:27

good afternoon. It's great to be on the

1:20:29

show and an honor. My net worth as

1:20:32

of this morning is $2.7 million. $2.7

1:20:35

million, good for you. Give me

1:20:37

a little breakdown on that. How much retirement, how much house,

1:20:39

and so on? Well,

1:20:42

I've got $1.9 million that

1:20:44

is in mutual funds. That's

1:20:46

IRAs, HSA accounts, cash, and

1:20:49

savings. That also includes my

1:20:51

emergency fund, and yes, I've had one

1:20:54

forever. I've got about $720

1:20:56

million in real estate, and that includes our primary home

1:20:58

as well as a rental property that we have. And

1:21:02

I've got probably about $90,000

1:21:04

in cars, and you guys will love this. We

1:21:06

just traded up, traded in our cars,

1:21:08

wrote checks for the balance. Good for

1:21:11

you. And my husband and I just bought

1:21:13

three-year-old cars because we never buy new cars

1:21:15

and we never will buy new cars. What kind of

1:21:17

cars? Just so people know what real millionaires try. Sure.

1:21:21

I have a 2021 Toyota Highlander hybrid

1:21:23

because I'm sick of paying for gas.

1:21:26

And then my husband bought a 2021 Toyota Tacoma. He

1:21:30

did buy two F-150s new. We

1:21:33

paid him off quickly when we were younger, and he

1:21:35

drove one for 15 years, and he just traded the

1:21:37

second one that was 10 years

1:21:39

old. For the Tacoma. Amazing. Wow.

1:21:42

What kind of millionaires drive

1:21:44

Toyotas, Honda, Lexus, Acura? Yep. So

1:21:47

how old are you, Kathleen? Well,

1:21:49

my husband and I will be 64 this year, so

1:21:51

we're heading into retirement soon. Yes, same

1:21:53

age as you, Dave. All right. So

1:21:56

how much of the 2.7 million did you inherit? You

1:21:59

know, We were millionaires before we inherited

1:22:01

anything and what we did inherit is both

1:22:03

our parents have passed away, our mothers

1:22:05

and fathers. My husband just

1:22:07

about a year ago inherited about $90,000. I

1:22:12

inherited about five years ago $300,000 and that is part of our

1:22:14

net worth but it's all

1:22:17

in our retirement accounts. It's all after you

1:22:19

were millionaires. Yes, after you were millionaires. Okay,

1:22:21

so we're being very clear you're not millionaires

1:22:24

because of inheritance. It added to

1:22:26

after you were already millionaires. Correct.

1:22:29

And you know what's interesting, I read

1:22:31

that 80% of people that inherit

1:22:33

money spend it within the first 12 months

1:22:38

instead of doing what you should do which

1:22:40

was put it immediately away to just

1:22:42

bolster our retirement account. Yeah, I mean you got

1:22:45

400 grand extra here between these two things. So

1:22:47

what has been the range of your income

1:22:50

through the years, the worst year you had

1:22:52

I guess probably when you started up to

1:22:54

your best year? Well,

1:22:57

you know, it's interesting. Our first four years of

1:22:59

marriage, our gross income was only $16,000 but we

1:23:01

still had 35% of

1:23:05

our annual income gross income in an emergency

1:23:07

fund. And

1:23:10

that was huge in my opinion. If

1:23:12

we look at those first 20 years, it was about $65,000 for

1:23:14

both of us. Last

1:23:17

18 years, I actually went and looked at my social security

1:23:19

account so I know, you know, how they listed out there

1:23:22

in preparation for this. About 195 gross

1:23:25

and my husband semi-retired today from the

1:23:27

printing industry driving a school bus. I

1:23:30

stepped up and took a bigger

1:23:32

role so that I could make a little bit more money. What

1:23:35

were your providers when you were working? My

1:23:38

husband worked in the printing industry and

1:23:40

local printing

1:23:42

like, you know, printing paper for

1:23:44

a university, a school university. I've

1:23:47

been in the benefits space consulting,

1:23:49

account management and sales which

1:23:52

also includes benefits like smart dollars,

1:23:54

so wellness benefits for

1:23:56

employees for most of my career

1:23:58

of 33. Five years, thanks

1:24:01

for the blood. Very good. So four

1:24:03

year degrees? Ah, my

1:24:05

husband went to trade school. I got a four year degree

1:24:07

that I. Finally finished and I was fifty

1:24:09

man And yes, the I want. That's

1:24:11

where. We're at our my

1:24:14

degree was in Organizational communications

1:24:16

and business. Gods And and

1:24:18

your Gps. My

1:24:20

Gp A was at three point four unless

1:24:22

you count the and when. It went up

1:24:25

because I was older and. Taking.

1:24:27

Classes. I liked the fact that older and wiser.

1:24:29

Older and wiser and I'm writing a check for

1:24:31

How do you think talking to the younger version

1:24:33

of you? you could still do this and American

1:24:35

a day. I think I could do.

1:24:37

Better as I can talk to the younger me. And

1:24:40

can point. Well I

1:24:43

think you know my advice. Really simple to

1:24:45

everyone, including my. Younger self would be to

1:24:47

save more earlier, floss more and use

1:24:49

more sunscreen if you do those two

1:24:51

things if we have your body time

1:24:53

you sixty Good teeth, good. Skyn does

1:24:55

nothing and like that's a that's a

1:24:57

good life. Sets

1:25:00

Classic. I love a couple. You're

1:25:02

amazing but I do so much

1:25:04

as for calling and and sharing.

1:25:06

That's a real. Millionaire.

1:25:10

That's. Who we're talking to? the shower.

1:25:12

The phone numbers Aaa Eight to five,

1:25:14

Five Two to five. This.

1:25:16

Is the ramsey So. Here's.

1:25:21

The thing about investing advice, you

1:25:23

can find it just about anywhere,

1:25:25

but that doesn't mean it'll always

1:25:27

help you with your personal goals.

1:25:29

Here's another option: Check in with

1:25:31

a Smart Vestra Pro. These financial

1:25:33

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1:25:35

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1:25:42

Ramsey solutions.com/smart Vest or go to

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Ramsey solutions.com/smart Vest. Her friends Solutions

1:25:46

as a paid non clan promoter.

1:25:48

Participating prose are more Ramsey Solutions

1:25:50

dot com/smartest. thank

1:25:53

you for joining us america i have

1:25:55

this is a baby steps millionaires the

1:25:58

mauer we're talking to real millionaires Day

1:26:01

before yesterday we launched Rachel Cruz's latest

1:26:03

book, a second in her children's book

1:26:05

series. I'm glad for where I am

1:26:07

at this very moment

1:26:09

live if you're in Phoenix Arizona. She

1:26:12

is at Desert Ridge Barnes and Noble

1:26:14

from 1 to 2, your

1:26:16

time today, which is right now, signing

1:26:19

books and reading the books and talking

1:26:21

to you guys. Tomorrow she'll be in

1:26:23

Los Angeles Thursday April the 18th at

1:26:26

the Barnes and Noble at the Grove

1:26:28

from 7 to 8 p.m. reading

1:26:30

the story and signing the books

1:26:32

teaching kids about gratitude. The first

1:26:35

book was about contentment, this one's about

1:26:37

gratitude and it's fabulously done,

1:26:39

you'll love it. If you've got littles

1:26:41

it's a must. Dallas is

1:26:44

in April the 20th so that'll be Friday,

1:26:48

Lincoln Park from 1 to 2 p.m.

1:26:50

at the Barnes and Noble there. Next

1:26:53

week in Atlanta on Friday April the

1:26:55

27th the Barnes

1:26:57

and Noble at Mansel Crossing there at

1:26:59

Alfreda and that's from 1 to 2 p.m.

1:27:03

and she just left New York City

1:27:05

doing a bunch of media up there

1:27:07

to head to Phoenix and was in

1:27:09

Phoenix today doing that first signing. So

1:27:11

Phoenix Los Angeles Dallas and Atlanta for

1:27:13

book signings on her new children's book

1:27:15

be sure and check them out. Michael

1:27:17

is one of our millionaires on hold

1:27:19

here in Springfield Missouri. Michael what's your

1:27:22

net worth? 2.8

1:27:24

million. Good for you, give me

1:27:26

a little breakdown by category, how much in retirement,

1:27:28

house and so on. 150,

1:27:32

1.5 million in rental investments real estate 500,000

1:27:37

personal residents 350

1:27:41

in mutual funds and 401k and

1:27:45

then 500,000 cash

1:27:47

between savings accounts and business accounts. Cool,

1:27:49

cool. How old are you? Good

1:27:53

for you and how much of this 2.8

1:27:55

million did you inherit? None

1:27:58

yet. My relatives are still

1:28:01

alive. None yet. It's

1:28:04

a good answer. There's still hope. All

1:28:08

right. And your, your worst

1:28:10

year of making money since you've been working

1:28:12

about 20 something years and your best year

1:28:14

of making money, your best year income, worst

1:28:16

year income. Um,

1:28:18

I mean, starting out was just normal 25 to 30,000

1:28:20

a year and slowly growing up

1:28:24

to about a hundred thousand a year. By

1:28:26

the time I was around 30. Um,

1:28:29

and then with, with the COVID boom,

1:28:31

I'm in car sales and real estate. So

1:28:33

I hit 400,000 a couple of years there. That

1:28:37

was a big help. Yeah.

1:28:39

Very nice. So your career as car sales

1:28:41

or your career as real estate or both?

1:28:44

Both. Okay. About 80, 20

1:28:47

car sales, 80 real estate, 20. Gotcha.

1:28:49

Okay. You got a four year degree. No

1:28:52

college, no college. See it all. Okay.

1:28:54

Cool. So, uh, what

1:28:57

would you tell the younger version of you that's

1:28:59

out there listening? Can they still

1:29:01

become a millionaire in America and what would they

1:29:04

do? Uh,

1:29:06

I believe they can. Um, I

1:29:09

actually think the competition might be less. Um,

1:29:12

if they will speak the trades, I

1:29:14

think the sky's the limit. Uh,

1:29:17

every time I try to get anything worked on,

1:29:20

you can't get anyone to call you back or

1:29:22

show up. And I think if

1:29:24

those younger guys would, would

1:29:26

chase the trades, I think they will

1:29:28

be very, very successful. Yeah.

1:29:31

Our friend Mike Rowe would love that, George. A

1:29:33

lot of room for opportunity there and a lot of money to

1:29:35

be made. A lot of people to be helped. That's

1:29:38

good. Exactly. I'm curious at

1:29:40

41, I mean, you haven't been working that

1:29:43

long to accumulate this much. What was the

1:29:45

secret sauce here in order to, obviously the

1:29:47

rentals is the big part of this, but

1:29:49

even the cash accumulation. Well,

1:29:52

I've been working since I was about

1:29:54

12. There, there you go. You

1:29:57

have a 30 year career already. I

1:30:00

think I'm about 18 yards when I was 13 years

1:30:02

old. Um, I

1:30:04

never spent any money. I saved it and saved

1:30:07

it. Um, I've never

1:30:09

had a credit card. I've

1:30:11

never made a car payment. I

1:30:13

have not, I've had a

1:30:16

not applicable credit score my whole life. There

1:30:19

you go. And I've only had

1:30:21

four loans to my first house, my

1:30:23

second house and two rentals. The rest

1:30:26

were all bought in cash. They have.

1:30:29

And, uh, like I said, I've always

1:30:31

just worked 60 hours a week and

1:30:33

Saturdays and holidays, and I've always just,

1:30:35

I had a goal when I was in

1:30:37

school, I had a goal to be a millionaire by age 30. Um,

1:30:41

the counselors and teachers, you know, they all

1:30:43

kind of teased and laughed at me, but

1:30:46

I didn't make it by 30, but I made it by 32. So

1:30:49

I was close. Wow. And by 41 2.8

1:30:51

million. Yeah. Yeah.

1:30:54

Well, COVID has really helped the real estate

1:30:56

market. And has

1:30:58

went way up with value. Yeah, that's true. It

1:31:01

helped the net worth. It sure did. Um,

1:31:03

yeah. Yeah.

1:31:07

I'd say I gained over 500,000 in one year,

1:31:09

just in value, just stuff that I own versus

1:31:11

what it was worth a year later. So

1:31:14

that helped a lot. Yeah. Well,

1:31:16

way to go, man. Way to go. Congratulations.

1:31:18

So what would you say over these years?

1:31:20

The worst thing you've ever done with money

1:31:22

is what was the biggest mistake? It

1:31:26

wasn't a big mistake with my first big year

1:31:29

when I hit the six figures, all of my

1:31:33

expert buddies convinced me I should buy a new pickup

1:31:35

for a tax write off. And

1:31:39

I probably lost 10,000 on that truck and

1:31:42

I saved about 2000 in taxes. So

1:31:46

I figured out real quick that that was not the greatest

1:31:48

advice. So I quit doing that. And

1:31:52

your buddies are bad at math. Yeah, this is

1:31:54

great. Well done, sir. Congratulations. You're a hero,

1:31:56

man. Way to go. Step

1:32:00

out in America and go win gems

1:32:02

and Cedar Rapids, Iowa. Hi Jim. What's

1:32:04

your net worth? About

1:32:07

32 million day from 32 million. Okay, you

1:32:09

win the award for the day. Give me

1:32:11

a little breakdown on that What's that in

1:32:14

all about 4 million in land about 10

1:32:16

and a half in real estate 1.6 IRAs

1:32:20

I've an app mill in mutual funds equity

1:32:23

investments one

1:32:25

million a half cash and about Between

1:32:28

8 and 10 million in my business Valuation

1:32:32

gotcha. What kind of business? Manufacturing.

1:32:36

Okay, and how long have you had that? Me

1:32:38

and my wife started at 26 years ago, Dave

1:32:41

Wow. Okay. Do you mind saying what

1:32:43

you manufacture? Most

1:32:45

the office furniture. Okay, very cool. Good for

1:32:47

you. All right, and

1:32:50

how much of the 32 million did you inherit?

1:32:53

Well two years ago. We inherited a million a

1:32:55

half from my wife's mother

1:32:58

So you already worth over 30 million before

1:33:00

you got any money. Yeah. Yeah,

1:33:03

they were farmers in Missouri They'd create

1:33:05

education and they ended up with probably

1:33:07

eight million dollar net worth And

1:33:10

how old are you? 66

1:33:12

66. All right, cool. And

1:33:14

what's your best year of income and your worst year

1:33:16

of income? Well before I

1:33:19

started my business, they were worth 50,000 and then about two mils

1:33:21

my best Yeah,

1:33:25

okay, which is how you funded all of this

1:33:27

then that makes a lot of sense. All right,

1:33:30

very good You got a four-year degree,

1:33:32

Jim. I do but I served

1:33:34

at tournament told I make her apprenticeship And

1:33:36

then I went back to college and got a degree Technology

1:33:40

so I believe my

1:33:45

tournament card opened way more

1:33:47

doors than my four-year degree. Yeah for sure,

1:33:49

especially what you do Your

1:33:52

training for what you do and what was

1:33:54

your GPA just for reference? At

1:33:56

school 2.2 Okay,

1:33:58

very cool Okay,

1:34:00

so you got a

1:34:03

26 year old out there, a 24 year

1:34:05

old out there listening and there's a bunch of

1:34:07

them right this second listening to the show, literally

1:34:09

millions. What should they do

1:34:11

if they want to be Jim when they grow up and have

1:34:13

$32 million at 60 C. I

1:34:16

tell them all the time, look for a niche,

1:34:19

look for whatever industry you're in, figure out

1:34:21

how can I do something better, faster and cheaper.

1:34:25

What does somebody need? In any

1:34:28

industry there's something out there that's a better way

1:34:30

to do it and figure that out and then

1:34:32

go after it because too many kids and 19

1:34:34

year olds, they want to have a business, they

1:34:37

want to have money and they

1:34:39

don't have a clue what to do. You got to

1:34:41

learn the business first, you got to learn the trade

1:34:43

and then look for a problem to solve. So

1:34:46

you probably in the process, it

1:34:48

sounds like doing this furniture manufacturing,

1:34:51

you've invented some things. Yeah,

1:34:53

I've come up with a lot

1:34:55

of different designs on processes and it's

1:34:58

weird because not

1:35:01

to get off track but the first person who walked in my door that I

1:35:03

hired, a 70 year old man,

1:35:05

he walked in wanting

1:35:07

to work. Turns out I was actually

1:35:09

living in a camper at the time. He

1:35:12

drove 30 miles each way and I couldn't

1:35:14

pay him for three months. He

1:35:17

was on fire for the Lord. He started coming

1:35:19

up. I went to a legalistic

1:35:22

church, me and my wife, so we had no

1:35:24

spirituality. He started telling me about

1:35:26

the Lord about three or four months later I got

1:35:28

saved. Haha, there we go. That's

1:35:31

how it's done. I love it. Sorry

1:35:33

to cut you off Jim. I wish I could hear that whole

1:35:36

story. It's fabulous. Hey

1:35:40

folks, Dave here. If you're in

1:35:42

baby steps four through seven, join

1:35:44

me for the ultimate debt free

1:35:46

celebration as we set sail on

1:35:48

the live like no one else

1:35:50

cruise. We're taking over an entire

1:35:52

ship for seven days in 2025

1:35:55

and we'll stop at some incredible places like

1:35:57

Turks and Caicos, St. Thomas, and the United

1:35:59

States. San Juan and the

1:36:02

Bahamas will also have some

1:36:04

special guests joining us including

1:36:06

Steven Curtis Chapman and Manit

1:36:09

Shohan. Book your cabin now

1:36:11

at ramseesolutions.com/crews. We

1:36:15

always teach you there is a price to be paid to

1:36:18

win. You have

1:36:20

to live like no one else. If

1:36:24

later you want to live like no one

1:36:26

else and give like no

1:36:29

one else. The

1:36:31

millionaires that we talked to most of the

1:36:33

time went through a

1:36:35

process to become millionaires. This is a Baby

1:36:37

Steps millionaires theme hour.

1:36:41

Now one of the things that we announced

1:36:43

earlier in the show if you weren't around was

1:36:45

the live like no one

1:36:47

else Ramsey Cruz went on the market today.

1:36:50

We are really excited about this. It is

1:36:52

a lot of fun. We are

1:36:54

going to be going for seven days at sea

1:36:57

with Holland America. We have got the entire

1:36:59

ship for a Ramsey Cruz. I live

1:37:01

like no one else Cruz. You should not go

1:37:03

on this cruise unless you are Baby Steps 4,

1:37:05

5, 6 and beyond. If you are

1:37:07

still trying to get out of debt you need to

1:37:09

stay home and get out of debt. We will do

1:37:12

another one maybe but probably. This is

1:37:14

going to be a lot of fun. It

1:37:16

is a seven day cruise. It includes Turks

1:37:18

and Caicos, St. Thomas, San Juan, the Bahamas.

1:37:20

It is incredible. We tried to do this

1:37:22

in 2020 but of course this little thing

1:37:25

called the Fauci Pandemic stopped all the cruises

1:37:27

and about the time we were getting ready

1:37:29

to sail it got

1:37:31

cancelled. This is the

1:37:34

ultimate debt free celebration. We want

1:37:36

you to come. All the Ramsey personalities

1:37:38

will be on the boat the whole week including

1:37:40

me and many

1:37:42

other guests as well. Steven

1:37:44

Curtis Chapman, many Grammys

1:37:47

award-winning 60 something doves

1:37:50

and an all-around good guy and a friend is going to be with us.

1:37:52

Manit Shohan from the Food Channel, Iron Chef is

1:37:54

going to be with us. Manit is here in

1:37:56

town in Nashville. We become friends as well. He

1:37:59

hangs out with us. one of the

1:38:01

great country music superstars, Dina Carter. You

1:38:03

remember the wonderful song that she's

1:38:06

known for, Strawberry Wine. And so she'll

1:38:08

be with us. Some of

1:38:10

the Nashville songwriters will be there and

1:38:12

many others too. George Camel, to

1:38:14

my right, will be with us. If you want to

1:38:17

book your cabin on

1:38:19

the cruise, go to ramzysolutions.com/cruise. I

1:38:21

would suggest you do that immediately

1:38:25

when we announced it and put it out this morning

1:38:27

on the web and send

1:38:29

out an email to our

1:38:31

database. We actually crashed the

1:38:33

cruise website. We shut

1:38:35

down the internet. That's how popular

1:38:37

this announcement is. And so if

1:38:39

you want to come, we'd suggest you do it.

1:38:41

The last time we did this, the one we

1:38:43

did not get to take, everybody got refunded because

1:38:45

of the Fauci pandemic, but that one sold out

1:38:47

in just a matter of weeks. This one will

1:38:49

too, especially based on the activity today.

1:38:52

It's going to be a lot of fun, George. Oh

1:38:54

yeah. And for those of you who have been following

1:38:56

the Ramsey plan and you're in baby step four, five,

1:38:58

six, seven, and you call us and you

1:39:00

go, man, I don't know what to do now. We work

1:39:02

so hard. We can't, you need to go on a vacation.

1:39:04

Some of y'all, you haven't been on a vacation since your

1:39:07

honeymoon. And so it's time to take

1:39:09

that trip. So start budgeting for it. Make your plans

1:39:11

to join us. This is a really fun thing to

1:39:13

sort of commemorate the hard work that you've done over

1:39:15

the years following these steps. And it's a reminder, it's

1:39:17

time to live like no one else. It's going to

1:39:20

be a blast. That's how it works. All

1:39:22

right. Open phones here. If you are a millionaire, we

1:39:24

want to talk to you. We want to hear how

1:39:27

you did it. The phone number is 888-855-225. Houston,

1:39:32

Texas, Carlton and Felicia

1:39:35

are with us. Hey guys, what's your net worth?

1:39:39

Dave, we're at almost 1.2 million. Cool.

1:39:42

Give me a little breakdown by category. How

1:39:44

much retirement, how much house, and so on.

1:39:48

Okay. So combined retirement, we're

1:39:50

about 600K. Personal residents and

1:39:53

property, we're

1:39:56

about 425K. with

1:40:01

cash about 30k and

1:40:03

then another 130k in investments. Good for you.

1:40:05

Well done.

1:40:09

And how old are you guys? Well

1:40:12

Dave, I'm 50 and

1:40:15

Felicia is still not older than me. Smart

1:40:18

man. Nor

1:40:20

will she ever be. Oh like

1:40:22

it. Very good. He's a math

1:40:25

guy. Good for you. All right.

1:40:27

How much of this did you

1:40:29

guys inherit? 60,000. Okay. After

1:40:33

you were millionaires or how long ago? I

1:40:37

think it's probably close to that point. I

1:40:39

think we're already on our way pretty much

1:40:42

probably 98% of the way there.

1:40:44

So is it fair to say, would it

1:40:46

be accurate to say you're not millionaires

1:40:49

because you inherited the money? Yes,

1:40:54

that'd be fair to say. Okay. I

1:40:56

just want to make sure I'm understanding

1:40:58

exactly because that's the data that we

1:41:00

collect. So what is your best year

1:41:02

working and your worst year working as

1:41:04

far as income goes? I'd say

1:41:06

our worst year was probably my

1:41:09

first year in the Army. Felicia

1:41:11

didn't work like she said at

1:41:13

home with our own child. It's probably about 18 to

1:41:16

20,000 a year as a private in the

1:41:18

Army. Wow. And our best

1:41:21

year so far would probably just last

1:41:24

year around 240k. Very good. What do you

1:41:27

guys do for a living? I'm

1:41:30

an RN. And

1:41:34

I work in sales. Okay. That's

1:41:36

okay. Cool. So obviously Felicia you

1:41:38

got a nursing degree right? Yes.

1:41:42

Okay. And Carlton you got a

1:41:44

four-year degree? I

1:41:46

did. Yeah. I got a four-year degree in of

1:41:48

all things finance. Finance.

1:41:50

Very good. All right. And

1:41:52

what was your GPA? If

1:41:55

I remember correctly I was just

1:41:58

sub of 3.0. Okay, very

1:42:00

cool. What about you? I was 4.0. 4.0,

1:42:03

of course it was. I like it. All

1:42:06

right. So you guys are nurse and

1:42:08

you're in sales and

1:42:11

you're 50 years old and you're millionaires

1:42:13

and not because of inherited money. What

1:42:15

would you tell a 24-year-old that says

1:42:17

it can't be done in America anymore?

1:42:22

I'd first start by saying that's a lie

1:42:26

and I would probably tell

1:42:28

them to Google Dave and

1:42:32

Lindsay as fast as they could. So

1:42:36

that they would learn what? I appreciate

1:42:39

the ad. What have you

1:42:41

guys done that caused you

1:42:44

to be here? What do you think the secret was? Well,

1:42:49

first of all, I just

1:42:51

want to give my husband

1:42:54

gratitude. It was because of him that we

1:42:57

are here today. He found you.

1:42:59

And I

1:43:01

would just say working together as a couple.

1:43:03

In the beginning, I was

1:43:05

a little hesitant but once I got on

1:43:07

board and we started working together, things

1:43:10

just went by really smoothly,

1:43:12

came together and here we are

1:43:15

today. How long ago was that

1:43:17

togetherness happened? Well,

1:43:22

we started the plan in 2015 and I

1:43:24

don't know, it's in the notes but we

1:43:26

were actually on the show three years ago