0:01

Live from

0:11

the headquarters

0:28

of Ramsey Solutions, it's the Ramsey

0:31

Show where we help people build

0:34

wealth, do work that

0:37

they love and create

0:40

actual amazing relationships. I'm

0:43

Dave Ramsey, your host. The phone number is

0:45

triple eight eight two five five two two

0:47

five. My co-host

0:49

today is bestselling author, Ramsey personality

0:52

and host of the George camel

0:54

show, the one and only George

0:56

camel and George, we're celebrating

0:58

a little bit today. Um, you,

1:00

uh, one year ago, we started the

1:02

George camel with a K show on

1:04

YouTube and it has blown up, uh,

1:07

we've now in one year, you've had over

1:09

30 million total views on that channel, uh,

1:13

one and a half million unique viewers

1:15

a month. Wow. And,

1:18

uh, 200,000 subscribers in the

1:20

first year. That is wild. Pretty

1:22

incredible. Well, one year old channel. Thank you. I think

1:24

we need a little smash cake. Isn't that what the

1:26

one year olds get at the birthday parties? Yeah.

1:30

Okay. But we'll work on that. No. Yeah. Anyway,

1:33

yeah. The, it has been fun.

1:35

We've, I mean, three videos a week for a

1:37

year is, is no small task for the

1:39

type of content we've been making very entertaining, highly

1:42

informative. We're trying to just kind of, yeah,

1:44

as you've called it, displacing all the filth that's

1:46

out there on the internet when it comes to

1:48

financial advice. And I put that in quotes loosely.

1:51

And so it's been a lot of fun riling the internet

1:53

up sometimes for good reason, sometimes with a lot of hate.

1:55

And I feel like I'm walking in your footsteps now. I

1:58

get it. This

2:00

is what it feels like. The riling up part. That's how you

2:02

know it's working. Well, I'll tell you what. You

2:05

know, obviously the team and you

2:07

are putting out a great product on the

2:09

YouTube. The George

2:12

Campbell Show, you guys check it out.

2:14

Again, 30 million views in one

2:16

year. That's pretty, that's a

2:18

lot of people. I can't count that many people.

2:20

That's more than I got fingers, I know

2:22

that. So there you go. And

2:24

200,000 subscribers and a million and

2:27

a half a week joining us. So thank

2:29

you guys for supporting George, but also George

2:31

and the team, congratulations. I'm really, really

2:34

thrilled for you. Very, very cool stuff.

2:36

Jesse starts this hour in Baltimore. Jesse,

2:38

what's up? Hi.

2:43

I'm, thank you so much for taking my call.

2:45

I'm just surprised that I got through, so I'm

2:48

not completely prepared. And I have

2:50

to warn you, if my husband comes home, I'm going to have to

2:52

hang up real quick. Why?

2:55

No, that's kind of why I'm calling. My

2:59

husband, I'm a stay at home mom. I

3:01

was a doctor before that, but ever

3:03

since having my kids a few years ago, I've just been staying

3:06

home. And the

3:08

deal was that I don't have to worry about

3:10

money and my husband will take care of everything

3:12

and he'll manage the big house and the cars

3:15

and all that. And I just buy what I

3:17

want, what I want. I

3:20

started to notice that my credit card bill was

3:22

not getting paid off in full. Like

3:25

I would say around September, October, this was

3:27

the second time that had happened. And then

3:30

the first time he paid it all off,

3:32

and at this time it

3:34

was not paid off. So I finally started

3:36

asking him more questions and I found out

3:38

he has a lot more than I have

3:41

of credit card debt. And

3:43

he's just, he has car loans and I

3:46

just wasn't paying attention at all. And

3:48

now we're basically in trouble with debt. And

3:52

we're going to have to move to a smaller house. I

3:55

don't know how we're going to pay for the kids. So

3:57

this whole thing of you buy whatever you want.

4:00

didn't work? No

4:03

and and I'm looking at our

4:05

pool right now and it's

4:08

it's a joke it's

4:10

all a joke. How

4:13

can we help? Sorry my

4:15

question for you is like I'm still

4:17

kind of discovering what's going on so

4:19

how do I talk to him in

4:21

a way that doesn't offend him or

4:23

emasculate him or make you feel he

4:26

I think feels like that's why I was like I want

4:28

to hang up to get close to work because he would

4:31

like it would kill him that I'm even

4:34

asking you this because he wants to be

4:36

the man in charge yeah taking care of

4:38

everyone well the proper man in charge

4:40

shares the burden of running the household

4:42

with his wife and

4:46

he's such a wonderful father. There's

4:48

nothing manly about secretly going into

4:50

debt yeah there's nothing that's not that's not

4:52

the man in charge he's dealing with a lot of shame

4:54

and a lot of guilt he thought he was

4:56

supposed to handle us all by himself and he doesn't and that's why I

4:58

didn't want to talk about it but I think

5:00

the two of you got to work this is a

5:02

relationship issue the two of you got to sit

5:04

down together and you just say hey look I

5:07

screwed up by dumping this whole

5:09

thing on you because you did

5:11

because you did okay yeah so

5:13

you can apologize for that and say and

5:16

so whatever the mess is we're gonna

5:18

face it together and whatever the

5:20

mess is as two adults we're gonna work together to

5:22

get it fixed so okay let me

5:25

sit down and let's walk together because I

5:27

love you you're my husband we're gonna walk

5:29

together as two adults in full disclosure you've

5:32

probably made some mistakes I made a huge

5:34

mistake by asking you it

5:36

wasn't right for me to ask you to carry the whole

5:39

thing by yourself and so I'm

5:41

gonna sit down I want to now let's go

5:43

forward not backward let's go forward and

5:45

say how can we work together and the first

5:47

step of working together and it is

5:49

for us to get everything out and put it on the table put the

5:51

kids to bed and let's

5:54

just look at it and let's figure out a game plan of

5:56

how we how we clean up the mess and

5:59

and I'm wherever that is, if

6:01

we need to stay in a tent, I'm going with you. Okay.

6:06

And so, and if I need to

6:08

pick up some shifts or something, we'll do that.

6:10

I mean, but we'll sit down together and let's

6:12

look at it together. And it's

6:14

just not, it's not condemning his

6:17

stupid decisions. He made some stupid

6:19

decisions, but he also had, it's

6:21

all clouded in this shame, and

6:24

that's why he doesn't want to talk about it.

6:26

He feels inept. He feels inept. Yeah. It's

6:29

her self-esteem. Uh-huh.

6:31

Confidence. And rightly so. That's

6:34

how I felt. I felt like an idiot when I went broke. Mm-hmm.

6:36

Kind of cause I was.

6:39

Hello. I wasn't an

6:41

idiot, but I had done some idiot butt stuff that

6:43

caused us to go broke, and it really wasn't Sharon's

6:45

fault. But I felt, you know, and she was scared

6:47

to death like you are. That's why the tears are

6:49

so close to the top. Mm-hmm.

6:52

Because not knowing is more scary than

6:54

knowing something hard. Exactly.

6:57

Yeah. And tell him that. Okay.

7:00

Not knowing is more scary to

7:02

me than knowing something hard. And

7:05

I'm worried about you, and I'm worried about us, and

7:07

I want us to get on the same page and

7:09

lock arms. I'm not here to beat you up. I

7:11

made a mistake. Yeah. You probably made

7:14

some mistakes, but we can put all that in the rearview mirror, and let's

7:16

just go how we can go forward. Okay.

7:18

Does that sound clean? You

7:20

have no idea how helpful that is. I mean,

7:22

or maybe you do. I

7:25

feel like I'm, I don't even, oh my God.

7:28

Well, let me tell you, my wife is a tough hillbilly

7:30

woman, and she was so scared she couldn't breathe when we

7:32

went through that. That's what I

7:34

feel like. Yeah. So she felt

7:36

like she was driving a car and hit an ice thing, and

7:38

the car's spinning, and she's going to hit something. She just doesn't

7:40

know what. That's what I feel

7:42

like. Out of control. Yeah.

7:45

Well, we want to help you take the next step,

7:47

Jesse. We're going to gift you one year of every

7:50

dollar premium, and you and your husband are going to

7:52

sit down, lay out all the debts, and if you

7:54

don't, you're not even sure, go pull credit reports on

7:56

both of you. Find out everything on paper, then make

7:58

that detailed budget with every dollar. list your income, list

8:00

all of the expenses, all of the debts, and

8:03

you're gonna, it's gonna be scary at first, but then

8:05

you're gonna be able to make a plan together and

8:07

go, how are we gonna tackle this debt? Thank you

8:09

so much. Yeah. Thank you

8:11

so much. It's a little bit like, you know, one of my buddies

8:14

got diagnosed with cancer the other day,

8:16

and that just completely puts you, you know,

8:18

it knocks you out emotionally. And

8:20

then, you know what's worse than that? It's like

8:22

three weeks before they tell

8:24

you anything else. Because

8:27

they can't seem to get into, what,

8:29

three weeks of not knowing. If

8:32

you're gonna die. If you're gonna die, it's so much harder.

8:34

You know, it's not knowing it's harder. Just sign me up

8:36

for the chemo. Sign me up for the plan. You know,

8:38

let's just get, what's the plan? That's not

8:40

as hard as not knowing. This

8:43

is the Ramsey Show. Listen,

8:47

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8:49

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9:48

Campbell, Ramsey Personality is our co-host today.

9:50

Thank you for joining us, America. George,

9:53

I'm so excited about this

9:56

Total Money Makeover weekend. The

9:59

month away. Yeah, it's right here

10:01

on campus at our Ramsey Events Center

10:03

and we're going

10:05

to walk you on Friday night

10:08

and all day Saturday, George and

10:10

Rachel Cruz and Jade

10:12

Washaw and me, Dr. John Deloni, Ken Cone,

10:15

we're going to walk you through everything you

10:17

need to do to completely change your whole

10:19

household. Not only how to

10:21

get out of debt, not only how to create a proper

10:23

budget on every dollar, not only how to get along with

10:26

your spouse or those of you that are

10:28

single, how to deal with those issues and

10:30

when it comes to money and how to make

10:33

more money from Mr. Ken Coleman is a good

10:35

idea because more money helps us go faster,

10:37

right? We're going to go through every

10:39

bit of it and you're going to leave here. So

10:42

bring your reluctant spouse, bring your friend

10:44

that thinks you're crazy because

10:46

by the time they leave, I promise you they

10:48

will be crazy. We will convert them. There's something

10:50

about a live event, Dave. You've been doing these

10:52

for 30 years but it's so different than just

10:54

listening to the show or reading a book. It's

10:56

an experience. We're going to do a bunch of

10:58

Q&A. We're going to get to hang out with you guys.

11:01

It's a whole weekend and we

11:03

do this show on the glass from 1 to

11:06

4 central time so you can roll in here

11:08

a little bit early on Friday, watch that and

11:10

then come on up to the event center and we're

11:12

going to do, I'm going to be speaking that night.

11:15

You guys are going to do a live taping

11:17

of Smart Money Happy Hour up there that night.

11:19

We'll do some other stuff and then Saturday is

11:22

buckle in because here we go, baby. That's

11:24

the game on day. I love it. This

11:26

is a great event and if you're

11:29

already doing the stuff, it's your pep rally.

11:32

If you need to get somebody on board, it's

11:34

your method of converting

11:37

them to this thing called

11:39

common sense. There's all the people who are ish.

11:41

They were kind of doing the plan. Maybe they fell

11:44

off the wagon. This is their moment to get back

11:46

on and actually do this stuff. As

11:48

you said, I've been doing it a long

11:50

time and we've filled theaters and arenas across

11:52

the nation doing this material and

11:55

different versions. This obviously is all updated. We're

11:57

going to deal with current modern stuff on

11:59

this. But, but the number of

12:01

times I run into somebody saying, you know, 10 years

12:03

ago, went to your event, not only we get

12:06

out of debt, it saved our marriage, not only

12:08

save our marriage, but now we're millionaires. Wow. And

12:10

you know, I run into that. Just like the

12:12

catalyst was that event. Yeah. But that experience turned

12:14

the corner. It was, it was the pivot point.

12:16

There you go. The hinge, the hinge pin. Yeah,

12:19

there you go, man. So check it out.

12:21

Get your tickets. Platinum plus tickets are sold

12:23

out, but there are platinums, a

12:25

couple, and a couple

12:27

of VIPs and general admissions

12:30

are still available. ramseysolutions.com/events. It

12:32

is May 10th and 11th

12:36

on campus here. Come to Nashville. You're going to

12:38

have a great time in Nashville and we are

12:40

going to, um, you know, we're going to, we're

12:43

going to pour out everything we got to help

12:45

you change your life. We leave it

12:47

all on the dance floor. There we go. That's what

12:49

we say. Nothing, nothing left, uh, out the, except on

12:51

the floor. That's it. Leave it all on the field.

12:54

All right. Anthony is in Los Angeles. Hi,

12:56

Anthony. Welcome to the Ramsey show. Uh,

12:59

hi, Dave. Hi, I'm George. Um,

13:02

calling me because I'm, I'm looking for some hope.

13:04

Um, I got 20, well, actually we have $29,000 of debt on

13:06

a vehicle and, um, we made

13:12

$196,000 this past year. Um,

13:15

right now our current year to date is

13:17

$57,000 gross. Uh,

13:20

a little bit or $57,000 gross. We

13:22

have this $29,000 debt and, um, 52 and 51. And,

13:27

you know, we just, we're looking for hope. We want to, we

13:29

want to know if we can ever buy

13:32

a home and be millionaires. Uh, you

13:34

know, I did my budget for this month and

13:36

it's a little higher than normal cause we have

13:39

some, um, things come in that weren't planned. Um,

13:42

normally on average, our budget is about $8,300

13:44

a month right now to 11

13:46

something, but about over 11,000. Um,

13:49

but yeah, I'm just. I'm really frustrated and

13:52

we're just, we're looking for hope. We want to, we

13:54

want to own a home. You know,

13:56

we're not old, but we're not as young as

13:58

we used to be. I'm just

14:00

trying to be out of debt and I own

14:02

a home and have peace and so I'm looking

14:04

for some hope. Well,

14:08

what is your car payment right now? I think

14:11

it's $1,016 a month if I'm not mistaken. For

14:15

one car? For one

14:17

car, yeah. The other two cars

14:19

are paid off. Okay. Well,

14:21

that's a problem. It's not the reason that you don't

14:23

have hope because that alone is not the factor. You're

14:26

also living in California. High cost of living out there.

14:28

Homes are going to be wildly expensive. So it might

14:30

look different for you guys but there is hope for

14:32

you yet when you make $200,000. That's a good start.

14:37

Yeah. So how quickly can we

14:39

knock out this car? I'm sorry? How

14:41

quickly can we knock out this car loan making $200,000? Well,

14:45

I get the math. I know that I'm going to make more

14:47

this year because the more I – I'm in sales. So the

14:49

more I hustle, the more I can make. The

14:52

issue is that I did the math

14:55

and our average monthly budget

14:57

is about $8,300 bucks. Now,

15:00

this year after I've netted, I netted $9,300

15:02

but this month's budget – Are

15:08

you guys investing right now? No,

15:11

we stopped. We have a 401K. We have

15:13

a $17,000 grant in it and then

15:15

we have $5,000 in an emergency fund. Okay,

15:18

so you have $5,000 in the emergency fund. You've paused

15:21

investing. You have $29,000 left on the car loan. Yeah.

15:24

Anthony, $9,000 – $9,300. Let's just round it up to $10,000. That's $120,000 a year. If

15:26

you make – Yeah,

15:34

that's my – Just a minute. That's

15:36

my – No, no. Stop. Listen. If

15:39

you make – if you're bringing home $120,000 and

15:41

you make $200,000, something's really wrong. Because

15:47

there's not an $80,000 tax bill on a $200,000 income. I

15:52

forgot to mention that I get SPF's too. That's

15:56

the net from my regular paycheck, but

15:58

I also get – income

16:01

for selling chassis from

16:03

the OEM and

16:05

also I get money

16:08

spiffs from the body companies for building bodies. Is

16:10

that included in the 200 but

16:12

not included in the 9000? Exactly,

16:15

exactly. So I have another $1200

16:18

coming in in about a week and a half,

16:20

two weeks from spiffs. Okay.

16:22

How big your tax refund then?

16:26

The tax refund we're getting $8,800 I believe for

16:28

$8,300. So

16:34

you're having way too much out of your account? About

16:39

700 bucks a month. Out of your check. Yeah.

16:43

I'm having way too much without, okay. Yeah,

16:46

because a tax refund is the government giving

16:48

you money back because you overpaid your

16:51

taxes. That's what a

16:53

tax refund is. I understand. You're overpaying by about

16:55

$700 a month out of your checks. Out

16:58

of my checks, I'm taxed. Yeah, you're

17:01

overpaying your taxes. Wow. So you

17:03

need to change your withholding by about $700

17:05

a month assuming your income stays the same. So

17:07

you've got some things you need to do to adjust along

17:10

those lines and then that's going to help you get the

17:12

car knocked out a lot faster. The second

17:14

thing is that when you say you're doing a

17:16

budget, you are doing a budget differently than we

17:18

teach. So we're going to

17:20

upgrade your budget experience because

17:23

your budget experience is you write down what you hope is

17:25

going to happen and then when you look back, it didn't

17:27

happen. That's not how you do a

17:29

budget. A budget is you're going to write down exactly

17:32

before the month begins where

17:35

every dollar is going to go.

17:38

It all has a name and your wife and you are

17:40

going to look at it. Both of

17:42

you are going to agree to

17:44

that number and we're not going to

17:46

change anything on this budget unless we

17:49

come back together and have another budget

17:51

committee meeting and

17:53

we're not doing that now. When

17:55

you say you're budgeting, you're just kind of like, yeah, I had an

17:58

idea what I thought it ought to be and it wasn't. That's

18:00

a different thing. I'm talking about exact like you

18:02

were running a business unit for me and I

18:04

was going to fire your butt if you didn't

18:06

get your number straightened out and

18:08

you would look at every stinking detail and

18:11

you'd write it all out in detail and

18:13

you have agreement with your wife and nobody

18:15

gets off the budget train without a ticket.

18:19

Okay, period. Hardcore.

18:23

Once you agree to it, it's a

18:25

contract. You pinky swear and spit shake.

18:27

That's it baby. Now,

18:30

once we're doing that, you're

18:32

going to find a bunch of money because

18:35

you've got this loosey-goosey idea of how life's supposed

18:37

to work although it's not working that way. So

18:39

you're kind of letting all this happen to you

18:42

and I want you to happen to it. This

18:44

is proactive instead of reactive in other

18:47

words. So we're going to plug

18:49

you into the Every Dollar Budgeting app for free

18:51

as my gift. Our gift

18:53

from George and I and Financial Peace

18:55

University, the class you and

18:57

your wife go through the class together.

19:00

Watch every lesson. Don't miss a single

19:02

lesson. This has helped ten million

19:04

people get their crap together and

19:06

you can do this and you can own

19:08

a house on two hundred thousand dollars a

19:10

year in Los Angeles, California. It's possible. It's

19:13

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19:16

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service any New York loans. Funding may

20:20

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20:25

I gotta tell you we are thankful

20:27

for you folks out there. The ratings

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20:31

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20:34

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20:38

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20:41

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20:44

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21:51

Oh and those five-star reviews they make a

21:53

big difference in the algorithm too. Greg

21:56

is in Boston, Mass. Hey Greg welcome

21:58

to the Ramsey Show. Hey

22:01

David, George, long time, first time. How are you

22:03

doing? Hey, better than we deserve, sir. What's

22:06

up? So, I'm 27

22:08

years old and I'm making a lot of

22:10

money. I make about 220 grand a year.

22:15

I've got about 160 in my fidelity account and 70

22:17

in the bank. And

22:21

it's a great job. But

22:23

last year, they sent me international for

22:25

about 100 days of the year and

22:27

I really fell in love with

22:29

it, made a lot of connections, learned the language.

22:32

It was amazing. And now, I

22:34

want to kind of further that, but it

22:36

seems like international is off the table for

22:38

this year and the forthcoming. And

22:41

I kind of want to move out there. I've

22:43

applied to some university programs and got accepted and

22:46

it's a big choice if I'm going to quit

22:48

this job to go follow that dream out there

22:50

or, you know, I

22:52

take the gift I was given and, you know,

22:55

I listen to this show a lot and I almost feel kind

22:57

of guilty even thinking about this. What

23:00

would you make in the new

23:02

position that you've applied for? Though,

23:05

it's not a new position, right? I'd go over

23:07

there. I mean, okay. You applied it

23:09

for, you said you applied at a university. I heard that,

23:12

right? Yep. What did you

23:14

apply to do? To study the language more. It

23:16

would be studying the local language more. You

23:19

can do that with Duolingo from the comfort of your home. Why

23:21

do you need to move there? And

23:24

I do. You applied for a job.

23:26

You applied to learn the language. Exactly.

23:29

So what's going to be your job? So

23:33

that's the hard part, right? If I

23:35

can, I want to continue the job

23:37

of Matt working remotely, of course, but

23:40

I don't know. That's exactly it.

23:42

I don't want to waste my young years

23:44

like all my peers around me. Tell

23:46

me I'm going to if I don't follow this dream,

23:48

right? Mama, dad, don't be stupid. It's not a dream.

23:51

It's a nightmare. That's

23:54

what mom and dad say. I don't care if you run to

23:56

something, but you're running off into the... into

24:00

the clouds and into the mist like there's a

24:03

unicorn waiting on you. I mean, what

24:06

the flip, man? Really? So

24:09

play this out years later and you learn a language. If

24:11

you told me you were out of position doing something over

24:13

there and you love that culture and you want to go

24:15

to immersion in that culture and learn the language and you

24:17

told me you're out of position, even making less than you're

24:19

making now, then yeah, let's talk

24:21

about that. But just absolutely nothing. I'm just

24:23

gonna move over there and learn the language

24:25

and I'm... Yeah,

24:28

so my... You're a little old for your gap

24:30

year. I

24:33

know. I guess my thought was, you

24:35

know, learning the language and becoming more

24:38

professional in it, I could then transfer

24:41

my business skills with that language to

24:43

work over there. Where's over

24:45

there? What are you talking about? Tokyo, Japan. Okay.

24:50

Alright. Okay,

24:56

the only... I mean, you called to ask our

24:58

opinion and it's really the only thing I'm an

25:00

expert on is my opinion. So, if

25:05

you were my son who's a slight bit older than

25:07

you and you came in and said, Dad, what do

25:09

you think about this? I'd say, I

25:11

like the whimsical part of it. It

25:13

sounds kind of cool, kind of fun. You

25:16

know, the Japanese culture is a great culture to

25:18

learn. The language is difficult, but

25:21

you can learn it. I'm sure you've already had

25:23

some runs at it and you've had some experience

25:25

there. And...

25:30

But it feels

25:32

very disjointed and

25:34

listless because you're not going

25:37

to something other than Tokyo.

25:40

Right. You've got to put

25:43

one more piece in this. You've got

25:45

to put the career piece in this

25:47

puzzle somehow. And I don't

25:49

care what that is. And if it takes you six

25:51

months to land something there through

25:53

your connections in what you're already doing and

25:56

you find something, even if you're making 75%

25:58

of what you're making, Tokyo's uber. expensive.

26:00

It's one of the most expensive cities in the world. So

26:03

you're gonna have to go over, I mean you're gonna burn

26:05

through 160,000 bucks in savings in about

26:07

20 seconds here. So I

26:09

just I want you to go to something

26:12

that's more certain

26:15

than the vague

26:17

thing you're describing. For you, it doesn't matter

26:19

to me Greg, it's not gonna affect me

26:21

at all. But if I'm

26:23

in your shoes, you

26:27

are single, you do have a pile of money,

26:29

you can go on an adventure. But

26:32

make your adventure better. This is a low-quality

26:34

adventure that you're describing. I'm

26:36

just thinking if I'm Greg, I'm just going

26:38

to start applying for similar roles that are

26:40

based in Tokyo. Yeah. That would be a

26:42

smarter move and then you can learn the

26:44

language here. You'll obviously learn it better when

26:46

you're entrenched in the culture but that doesn't

26:48

seem to be the factor holding you back.

26:50

I need a job when I get there.

26:54

Wait a minute. Hey Greg,

26:56

you still with me? Yep, I'm

26:58

here. Is there a girl there? No.

27:02

Are you sure? I mean hey it's

27:05

possible to happen but not at the moment

27:07

now. Okay, because that would explain how illogical

27:09

all this is. Okay. Dave's always saying we're

27:12

from Ron Cahn. A swing and a miss.

27:14

Yeah, that's it. Dave's looking for the hallmark.

27:16

No, I'm not looking for the hallmark. I'm

27:18

trying to figure out why this guy who

27:20

otherwise seems very onto things and is so

27:23

buttoned up on this one issue just lost

27:25

his dead-gun mind. Love will make you do

27:27

that. I was trying to figure it out.

27:29

I thought it was a girl. Okay, put a girl in it.

27:31

Okay. I'll swing and a

27:34

miss. Okay, anyway. Anyway, Greg, we

27:36

love you. We want you to win. I want you

27:38

to go on the adventure but I don't want you

27:40

coming home regretting that you went on the adventure. That's

27:42

where I'm trying to get to. I

27:45

don't want the 30-year-old, 35-year-old version of

27:47

you going, what the heck? You know,

27:49

no. You don't want that. And

27:51

so, and there's no anchor points

27:54

in this. There's no, there's nothing

27:59

that's It feels sort of very Heather

28:01

very mushy, you know, so I

28:04

want you to go do it But I want you to

28:06

do it better version of what you're talking about than what you're

28:08

giving me I like that plan.

28:10

Okay, that's not quite a dream killer,

28:13

but it's a nightmare killer I'm big on

28:15

killing nightmares and and some of you days

28:17

a dream killer. No No,

28:19

I've had a bunch of dreams that turned into nightmares And I

28:21

know what they look like because I'm old so we try to

28:23

keep you from doing that to yourself because we love you So

28:25

that's it. Well, it's kind of like moving to Mexico because I

28:28

love tacos I need a bigger dream than that Dave. I

28:30

can get you have a tacos are better there, but it's

28:32

not a great reason to move You've

28:36

eaten a lot of tacos in Mexico, so you're the You

28:39

know, you're just getting personal right here. I'm just saying

28:46

Spanish increase that you have me

28:48

my Spanglish is excellent So

28:50

I can I can I can manage myself around

28:52

but nothing but I still don't know what they're

28:54

saying about me That's

28:56

the local gringo, what's that

28:59

mean anyway, I would tell you but I think we'll be

29:01

taken off the air So

29:04

yeah, it's you need to

29:06

do some stuff like that and the good news

29:08

for Greg situation is he is unencumbered He

29:11

doesn't have a lot of stuff holding him here. So it

29:13

is a good time to do this He

29:15

would survive it but the but but but

29:18

I think you're gonna have a better quality adventure if

29:20

it has another element or two To the plan there's

29:22

no more purpose to it. Yeah, yeah,

29:24

and well more anchor points with

29:26

your job purpose just eating money I just want

29:28

some eating money. You know, it's doing

29:31

something 220 to 0. That's a steep decline in

29:36

income This

29:40

is the Ramsey show This

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30:55

George Campbell, Ramsey Personality is my

30:57

co-host. Gordon is in Seattle, Washington.

30:59

Hi, Gordon. Welcome to the Ramsey

31:01

Show. Hi, Dave. Yeah,

31:05

thank you for taking my call and I appreciate all

31:07

that you teach. Thank you.

31:11

Just wanted to give you advice

31:13

on some problems, well,

31:15

not problems, but decisions to

31:17

make. So I'm on

31:19

my step to being ready

31:22

to liquidate my after-tax investment

31:24

account, clean out my savings

31:26

besides the $1,000 baby

31:29

emergency fund to attack some personal

31:31

loans. My question to

31:33

you is, would it

31:36

be worth it to take

31:38

a loan out of my 401K just to clear

31:41

out all the personal loans since

31:43

the interest on the 401K loan

31:46

is essentially paid to myself? No.

31:53

How much debt do you have? Personal

31:57

loans about $22,000 and then steering the wheel. loans

32:00

about 30,000. Okay and

32:02

how much are all these after-tax investments going

32:04

to create when you liquidate them? Only

32:08

about 6,000 and another 6 or 7 in savings. Okay.

32:14

So bring your debt down to 40. You do that? From

32:16

52, yeah. So you got 40,000 in

32:19

debt. What's your household income? Right

32:23

around 155 before tax.

32:26

Good, okay. The

32:28

problem with a 401k loan is

32:31

several fold. One is yes you do pay

32:33

yourself back the interest but you unplug that

32:36

portion of the investment from the mutual

32:38

funds that would have been earning you 12 this

32:41

year, maybe even more percent. So

32:44

maybe you would have made 15 but you paid

32:46

yourself five instead. Bad

32:48

idea. Number one. Number two.

32:51

When you leave the company and

32:53

you will leave the company, when

32:56

you die, when you get a

32:58

better job or when they fire you, you

33:00

will leave the company. Okay. And

33:03

if that loan is still in place at

33:06

that time it becomes due in full. If

33:08

you do not pay it off in 60 days

33:10

it's considered an early withdrawal with all

33:13

the taxes and penalties. So that

33:16

leaves you very, very vulnerable. It's a

33:19

really bad loan. And

33:22

so and you've still got $40,000 to pay off regardless

33:24

of what we

33:26

do. Making 155. What you ought

33:28

to do in what like a year? Yes. Yeah

33:33

if you do

33:35

if you get on beans and rice, rice and beans

33:37

and you tear into it, it sounds like you've studied

33:40

our stuff and you're doing you know you're cleaning out

33:42

everything you're leaving $1,000 you're gonna stop adding to the

33:44

401k. Yes I would do

33:46

that but we never

33:48

tell people to borrow on a 401k ever. I

33:50

don't even offer the borrowing option to our team.

33:52

Couldn't do it if you wanted to here which

33:54

is good. Stop people from doing it. It's not

33:56

available. It's just not available. It's because I'm not

33:58

gonna participate you doing something stupid. stupid, it's

34:00

as simple. So the,

34:03

but no, I, that's the problems with

34:05

it is you, you're going to get, you

34:07

just leave yourself very, very vulnerable as opposed to

34:10

a regular loan. So to speak, I mean, if

34:12

you went and got just another loan

34:14

at the bank for 40,000 and

34:16

paid off and cleaned them up, but you've got

34:18

one big loan instead at 5%. You

34:21

know, that would be okay because you don't have all these

34:23

other problems. You didn't unplug an investment that might've made you

34:25

12 or 15 and you didn't

34:28

leave yourself open to penalties and taxes in

34:30

the event you leave that particular position. So,

34:33

um, because I

34:35

mean, pretend somebody came in and offered you

34:37

double income. You got

34:39

to think about not taking that because

34:42

you got these golden handcuffs that you've created.

34:45

Yeah. That's, that's what people do. They go, Oh, I, I

34:47

was going to take that better job, but then I borrowed

34:49

on my floor and I was going to get hammered. So

34:52

yeah, that that's what you don't want to do, Gordon.

34:54

So this is gone in less than a year. I mean,

34:57

if you make one 55 after taxes, let's call

34:59

it, you know, one 10, you can live

35:01

off 60 and pay off

35:03

50 in a year. And so it's gone. Yeah.

35:05

It's a 40,000 dollar debt and you're probably going

35:07

to add to your income and you're probably going

35:09

to find some other stuff. So maybe it's 14

35:11

months, maybe it's 15 months, maybe it's nine months.

35:13

I don't know, but it's somewhere in that range.

35:15

It's not a, but I'm not doing something five

35:17

year issue. Yeah. And I wouldn't put all of

35:19

this other stuff at risk for that. And so,

35:22

no, I've never told anybody to do that. And

35:24

folks, it's a good idea. Aside from Gordon's question,

35:26

let's just sidebar a second, George. The

35:30

thing that we have figured out at Ramsey that

35:32

a lot of people in the financial world are

35:35

now acknowledging because we've made such a

35:37

big footprint in the space, but, but

35:40

most of the people, when I was growing up in

35:42

the financial world, we thought all this was a math

35:44

problem. It's all about the math. Well,

35:47

hey, the interest is higher here. Why wouldn't I do this

35:49

with lower interest? All I got to do is fix the

35:51

math and I'm going to be okay. And

35:54

what I've discovered in 35 years of

35:56

doing this is it's not a math problem. It's

35:59

a me. It's 80% personal

36:01

finances, 80% behavior and 20% head knowledge. Now

36:07

why does that matter? Well,

36:09

if you fix the math and you don't fix

36:11

the behavior, you're going to be right back in

36:13

the soup. That's why debt

36:15

con solidation doesn't work. That's why we call

36:18

it a con. Because you

36:20

move all your debt from one place over to another

36:22

into one big loan. In this case, he's using a

36:24

401k to do it. Now in

36:26

his case, it doesn't apply because he

36:28

is actually changing. He

36:30

has changed what he's doing. He's cleaning out

36:33

these savings accounts. He's thinking about this. He's

36:35

doing a budget. You can hear Gordon's really

36:37

focused, right? So this particular part

36:39

of the discussion does not apply to Gordon,

36:41

okay? Because I think he's beyond that.

36:43

He's willing to make the sacrifice. But a lot of people that

36:45

have called me over the years and want to do a debt

36:47

consolidation, I want to move my debt over

36:49

here. First thing is, out

36:51

of the abundance of the heart, the mouth

36:53

speaks, the Bible says. And they say, I

36:56

paid off my debt. What's

36:58

a debt consolidation? No, you didn't. You

37:00

moved it. You put it in the junk drawer. You

37:02

didn't pay it off. But what

37:04

that tells me is, is you took the

37:06

pressure off of yourself and it's now okay.

37:09

Because I paid it off. No, you didn't.

37:12

You moved it. And you

37:14

still got the problem in your mirror.

37:17

This person is still not handling money. This

37:20

person is still spending money like they're in Congress.

37:22

They're not on a written plan. This

37:24

person in the mirror is still impulsive. This person

37:26

in the mirror is still not working with their

37:28

spouse. They're still not thinking long

37:31

term. They're still doing a bunch of other

37:33

stupid stuff. And so the debt's going to

37:35

grow back. And we

37:37

know from the debt consolidation

37:39

industry that 88% of

37:41

you, that's 9 out of 10 that take out a debt

37:43

consolidation loan, your debt

37:45

grows back after you move it. So

37:47

you end up with twice as much

37:49

debt because you don't change the behavior's

37:51

habits, character issues that caused it in

37:53

the first place. Yeah, and these

37:55

are all shortcuts at the end of the day. And it

37:58

feels like you did something when you take a shortcut. cut

38:00

but the problem is like you said you're gonna

38:02

be right back where you started when people do

38:04

these 401k loans or the HELOC or whatever the

38:06

move is they actually end up

38:08

in the same place they were a year

38:10

from now yeah because the same person

38:12

and you've got to transform if you want to

38:14

see different results yeah and so you know the same

38:16

thing happens with your marriage okay how many times

38:18

you know somebody and I know people because again

38:21

you go through enough life you see this

38:24

but I know people who are

38:27

in a marriage and they have a certain

38:29

set of behavior problems in their relationship they

38:32

get divorced and go

38:35

marry a new person

38:37

with the exact same set of issues

38:40

and they didn't fix their own issues so

38:42

they do they just do it again because

38:45

they thought that they thought the problem was that

38:47

person and it wasn't it was the

38:49

issues that were not addressed the core things you

38:52

go with you and so yeah you the problem

38:54

is you take you with you when

38:56

you do all this stuff and me

38:58

too I'm the same thing so the

39:00

beautiful thing that happened when Sharon and I went broke

39:02

was we didn't have a choice

39:05

we had to change we're

39:07

having food electricity

39:09

was cut off we had

39:11

to change we had to

39:13

address the ridiculousness of our

39:16

decision-making paradigms are our ridiculous

39:18

set of assumptions are stupid

39:20

intellectual realizing of rationalizing ridiculous

39:22

financial concepts with my intellect

39:24

that absolutely caused me to

39:26

lose everything because I'm an

39:28

idiot you know I had to

39:30

face all that I have a choice you ran

39:32

out of shortcuts there was not I

39:35

was everything was gone I just left with this

39:37

mirror you know and I'm

39:39

stuck with me and I'm like

39:41

you you are a problem and

39:45

but the beautiful thing about something that dramatic

39:47

and traumatic is you

39:49

come away from a change you don't have a choice

39:51

when you guys are just kind of everything's okay and

39:54

nothing smacking the crap out of you to

39:56

get your attention you don't have to face

39:58

it and so So our job here

40:01

is to keep you from having those

40:03

extreme experiences and instead letting you choose

40:05

to face it rather than all your choices

40:08

are taken away. Yeah, be the preventative medicine.

40:11

That's why this whole thing works guys. That's

40:13

why this Ramsey stuff works. Is we have

40:15

figured out first the

40:17

guy in your mirror, the gal in your mirror is

40:19

the problem. That's the bad news.

40:21

The good news is they're the solution. This

40:25

is the Ramsey Show. Live

40:30

from the headquarters of Ramsey Solutions.

40:32

It's the Ramsey Show. We

40:35

help people build wealth,

40:38

do work that they love and

40:41

create actual amazing relationships.

40:45

George Campbell, Ramsey Personality, number one best

40:47

selling author and host of the George

40:49

Campbell Show on YouTube, which is by

40:51

the way exploding. He's my co-host. Phone

40:53

number is 828-825-225. James

40:59

is with us to start this hour in

41:01

Connecticut. Hi James, how are you? Hey

41:04

Dave, how are you? Better than I deserve. What's up?

41:08

Yeah, just blessed man. How are you? I'm

41:10

doing good. Good. How

41:12

can we help? Yeah, so I guess my question

41:14

is about seven years ago I was a heroin

41:17

addict and I had $736 and

41:20

now I'm a top performer in my industry and

41:22

I've done really well in that industry and now I have

41:26

a lot of liquid money and we're just getting

41:28

into real estate. My main question is very simple.

41:30

It's just how do I go from being a

41:32

multi-millionaire to a decamillionaire? Wow.

41:37

Wow, congratulations. Thank

41:39

you. You kicked one of the hardest

41:41

ones out there. Heroin is a big deal. How

41:43

old are you? Yeah, well I am

41:45

43 years old without Jesus Christ. I wouldn't be

41:48

here. Amen. Amen. And

41:51

so what do you do? I

41:55

am in the solar industry. Okay. And how

41:57

much cash have you piled up? I

42:01

have about you know liquid that's like not attached to anything

42:03

that's just sitting in like a 5% account. I got about

42:05

400,000 Okay, good.

42:08

So you basically earned a bunch of money

42:10

and didn't spend any of it. That's an

42:12

old formula, right? Yeah,

42:14

I mean I would say I was like, you know

42:16

70 80% really, you know good with my money I

42:19

mean, I've enjoyed myself a little bit, but I haven't

42:21

been irresponsible I've kept most of

42:23

my most of my money for my me and my

42:25

family so that we could you know Live

42:27

a life that everybody deserves. Yeah um

42:32

The folks that I know so your net worth

42:34

is now what? Probably

42:36

around a couple million. Okay with you know

42:39

investments, you know house Yeah money

42:41

that I have liquid and then we you know right now

42:43

we're currently In the flips

42:45

we're doing flips. I got in between me and a business

42:47

partner We have about 300 grand into that and we're making

42:49

you know, we got a good percentage off of that But

42:52

you know now we're looking into You

42:55

know multiple multiple level, you know multi-unit buildings

42:57

You know either flipping those or getting them

42:59

and holding them and that kind of thing.

43:01

So you're going all about this cash Yeah,

43:05

yep, no death No,

43:08

I mean that's what I'm that's what I would be utilizing the 350

43:10

to 400 K. I would deploy that towards that Yeah,

43:14

okay. He's making sure understand the

43:16

principles that you're operating on. That's

43:18

good. All right. Yeah, well

43:20

congratulations I mean your story and your

43:22

story is amazing very well done. Um,

43:25

well my experience of working with and

43:29

Folks that go from You

43:32

know a four or five million dollar net worth to

43:34

a ten twenty thirty million dollar net worth It

43:38

generally has to do with

43:40

two main things one is

43:42

it's an entrepreneurial endeavor You

43:45

can't 401k yourself into 20 million. It

43:47

doesn't work the math doesn't get there

43:50

In 401k yourself and pay your house off and get

43:53

you to five million, but you can't get the 20

43:55

million doing that Yeah, so the folks

43:57

that I know that have again 10 20 even up to million.

44:01

They almost all have some kind of entrepreneurial

44:04

endeavor which you described. You're doing flips. That's

44:06

an entrepreneurial endeavor. You can do it with

44:08

that. So you're doing something

44:10

where the money's working a lot

44:12

harder and the ROI on the

44:15

actual deployed cash is a lot

44:17

higher than a simple

44:20

mutual fund or a piece of rental real estate.

44:22

Okay? Because most of those are going

44:24

to be 10 to 20 percent rate

44:26

of return depending on how you're playing

44:29

it. But an entrepreneurial endeavor gives you,

44:31

you know, margin not

44:33

return and margins where the

44:35

things go serious. So and

44:38

that sounds like you're on to that. The

44:41

second thing they do, the thing

44:43

that allows them to get there is

44:45

they never, the

44:49

ones that I know that have made it and

44:51

kept it, okay? I'm not talking about people that

44:53

are high rollers and they lose everything again after

44:55

they made it all. That's not what I'm talking

44:58

about. I'm talking about the ones that it's sustainable.

45:00

It's a sustainable set of principles. They

45:02

don't ever do what I

45:05

call James Bond investing. In

45:07

every James Bond movie, somewhere towards the end

45:09

of the movie, sometimes at the beginning of

45:11

the movie, he is at a card table

45:13

with the evil person who's trying to destroy

45:15

the world and this hand of

45:18

cards that he's playing, if he

45:20

loses the hand of cards then, you know, somebody's going

45:22

to die and all the rest of the human race

45:24

is going to collapse, right? You know the scene. It's

45:26

in every movie it is. So and

45:29

what happens inevitably is it comes down to not just

45:31

a card game, it comes down to one hand in

45:33

the card game and the

45:35

sweat is breaking out on everyone's forehead and

45:37

he slides all the

45:40

chips to the middle of

45:42

the table on one hand and

45:45

we all hold our breath, right? That's a movie.

45:47

It's not how life works. So

45:49

don't do James

45:52

Bond. That's

45:54

what these guys do. They avoid the James Bond

45:56

move. You don't slide no matter how good the

45:58

flips are going. You always

46:01

hold a foundational three or

46:03

four million dollar net worth that is

46:05

not involved in all this crap. Yeah.

46:09

It's over there and the chips that are

46:11

on the table are not your only

46:14

chips. And so you're,

46:16

you know, in other words, you don't lose your

46:18

home if this goes sideways. You don't lose your last

46:20

dime and you're back to $756 if this all goes

46:23

sideways. That's a

46:25

James Bond move. And people think that that's

46:27

all romantic, but it's not. It's just stupid.

46:31

You know what I'm saying? Yeah. Well, I

46:33

do. So I have it diversified, though, too. So

46:35

I got about a million on the market. Yeah. And,

46:38

you know, we got 400 in cash. And don't

46:40

touch that. And no deal. No deal that comes

46:42

to your plate on these flips is good enough

46:44

to get you to risk that foundational piece. Yeah.

46:49

Because I got to tell you, it'll show

46:51

up. I've had deals at

46:53

Ramsey come in front of me that

46:55

if we did the deal, it was going to be the biggest

46:57

thing we'd ever done. And if it went

46:59

sideways, it would have closed the place down. And

47:01

I've walked away from them on the James Bond

47:03

principle. Okay. And I

47:05

look back and I go, you know, it caused

47:07

me to have to grow a little bit slower,

47:09

but I also didn't have to start over. Yeah.

47:13

And that's what I don't. You have no attention in starting over. Yeah.

47:16

So you're looking for margin, not just investing.

47:18

You're looking for entrepreneurial endeavors of some kind.

47:20

Whether you're starting a company, whether you're doing

47:22

flips, whatever it is, where you're making spread,

47:24

not just return. There's

47:27

a difference. And,

47:29

you know, when I

47:31

sell a book for $20 that I

47:33

paid $2 for, that's spread. That's

47:38

not return. You don't get

47:40

that kind of return on a mutual fund. Okay. And

47:43

that's one of the businesses that Ramsey is in,

47:45

is the publishing business, right? And

47:48

so that's, you know, part of where my

47:50

wealth has come from, is growing this business.

47:53

And so, but if you

47:55

look through the Forbes

47:57

400, by the way, folks, this is interesting. at

48:01

uh... all the form four hundred now georgia

48:03

billionaires while a billion is a

48:05

thousand million and

48:07

uh... the vast majority of them i

48:09

think it's eighty are seventy

48:11

one percent of last time i look for something like

48:13

that our first generation rich they're not

48:15

trust fund babies and

48:18

you can name the companies that they did even

48:22

oprah oprah isn't one of them and she's

48:24

a company the

48:26

companies that they did you can name a

48:28

lot of that is shares valuation you know

48:30

exactly goes in the same they cash out

48:33

or they don't know that's part of their

48:35

network dale it's walmart it's gates you

48:37

know when you go through it it's companies and so

48:40

that's where that that level comes from

48:43

but you can't even have a great life folks and

48:45

never do that and still get to the five to

48:47

ten million this is the ramsay george

48:55

cameron she personality number one best-selling

48:57

author of breaking free from broke

49:00

is my co-host today every

49:03

dollar is our

49:05

world class budgeting app it helps you

49:07

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49:09

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49:11

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49:18

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49:25

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49:44

dot com and get started and george

49:46

you and jade are going to be

49:49

hosting a budgeting live stream tomorrow on

49:51

youtube it's right tomorrow morning and we're gonna

49:53

be taking questions from the chat which is something we

49:55

never do here on the ramsay show so it's gonna

49:57

be really cool to take in a few phone calls

50:00

taking questions from the live chat on YouTube and

50:02

it's totally free. All you have to do is

50:04

just hit Ramsey show on YouTube. You can hit

50:06

the reminder button and we'll let you know when

50:08

we're live and we're going to go live for

50:10

about an hour. Yeah, about 9 a.m. central time

50:13

tomorrow for those of you that are catching this

50:15

in time, be sure you jump out

50:17

there and do that. If you have a

50:19

question, you can jump in and again make it part

50:21

of the chat. How do I get started? How do

50:23

I combine finances? How do I budget

50:25

and still have a life? I've

50:28

got changes coming up. How do I deal

50:30

with that? George and Jay are going to walk you

50:32

through every bit of it. And we'll show

50:34

you every dollar live on the screen. So we'll actually talk

50:36

about it. So you'll see how it works. Again,

50:39

the whole experience is free. Doesn't cost a thing.

50:41

So jump in and check us out. Tom

50:44

is in Vancouver. Hi, Tom. Welcome

50:46

to the Ramsey Show. Hi,

50:48

Dave. How are you? Better than

50:50

I deserve. What's up? Honestly,

50:53

I get this question a lot. I'm

50:55

married. Been a mayor of our year. Been

50:57

with the same girl for about five years

51:00

before that. We didn't

51:02

combine finances before we were married. Now

51:05

we've been married. I'm having trouble bridging that

51:07

conversation with how to

51:09

use our income together instead

51:11

of separately to try

51:14

to battle against our

51:16

joint debts that we have. So

51:18

you've been married for how long now? One year. One

51:21

year. How much is the total debt? Yeah.

51:25

So we have our mortgage is about

51:27

$375,000. And

51:30

then outside of the mortgage is about $150,000. $75,000

51:36

is a combination of my student loans

51:38

or other student financing for my CFP.

51:41

And then $75,000 is a family debt that

51:43

we owe my parents. Certified

51:47

financial planner? I

51:49

am, yes. Okay. I do

51:51

private wealth management. What does your wife do? She

51:55

does coordination for a healthcare company.

52:00

Okay, and what

52:02

does the conversation sound like when you say,

52:05

hey, I think we ought to combine forces

52:08

now that we're married and combine all

52:10

of our assets, our liabilities and attack

52:12

all this together as one unit? What

52:14

does she say? She's

52:17

willing to contribute what's

52:20

needed to a joint account, the

52:22

house account that we use for things like that,

52:25

but she is not really interested

52:28

in having everything close through the one

52:30

account with our incomes or expenses out.

52:34

I can't say I'd be really dove into a big reason why. I

52:36

would be the first thing I would have asked when you said that.

52:39

You don't want to combine your life with me? That's a

52:41

little disturbing. And

52:44

where's the other money going that she's not,

52:47

quote, contributing to the joint account? She

52:51

keeps it in her own account or into her like

52:53

tax free savings account. So

52:56

basically you guys are typical, by

52:58

the way. You're right. We get

53:00

this question all the time. But

53:02

my rebuttal to her and people

53:04

that believe like her is that all

53:07

the data we have on wealth building indicates

53:11

that what you're doing is not going to

53:13

work. We

53:16

study 10,000 millionaires, the vast

53:18

majority of them in the

53:20

80, 90 percentile said

53:23

that one of the reasons they were able to

53:25

get there was they had a spouse

53:28

that they had joined arms with and

53:30

were fighting against all

53:32

odds together to get there. It was a

53:34

unified approach. It wasn't I've got a roommate.

53:37

Marriage is not a joint venture. And

53:41

so that's my rebuttal to her on

53:43

that. And I think you need to

53:46

get under that because she's still acting like you all

53:48

live together. Yeah, basically. And

53:52

it's time to move on to the next stage once

53:54

you're married. And it's the old

53:56

fashioned preacher said and now you are one. One

54:00

thing that might be

54:02

happening and the reason I was

54:04

asking about your careers, one thing that might

54:06

be happening is you might be math and

54:08

she might be

54:11

art and healing, meaning

54:17

that the last thing she wants to do

54:19

is turn over her

54:22

last little bit of autonomy to

54:24

a control freak math nerd. So

54:36

here's the way you combat that. I

54:39

know that because that's what happened at my house.

54:42

I am a control freak math nerd and

54:45

I'm good with math and you don't get a CFP

54:47

unless you're good with math. So

54:49

you and me are the same dude. At

54:52

my house, it took me a

54:54

while because

54:57

I'm hard driving overbearing and

54:59

all control freak, it took

55:01

me a while to heal that

55:03

part of our relationship to where

55:05

Sharon actually believed that

55:08

her vote counted in

55:11

the discussion. Now, George,

55:13

however, is a nice guy, so

55:15

Whitney already believed that her vote

55:17

counted with George. So

55:20

Sharon's like, you're going to do whatever

55:22

you want to do anyway, why do you want me to talk about it? That

55:24

was a pretty good impression. It's about right. It's about

55:26

what it sounds like. But

55:29

it's like it took me, so we do

55:31

not make decisions and have not for 30

55:33

years since bankruptcy without making

55:35

them together and sometimes

55:37

I have to force her to place her vote

55:39

just to remind her that she has an equal

55:41

vote because she sometimes will go, oh, do whatever

55:43

you want to do, but I know how that

55:45

ends up. That story doesn't end well. So

55:48

I don't want to do whatever I want to do. I want her

55:50

input, number one, but number two,

55:53

I want her agreement so it

55:55

doesn't come back on me later. of

56:00

what you're battling is she's not convinced she gets a

56:02

vote. Okay.

56:05

And you might just talk about it out loud like

56:07

that and go, my personality, my

56:09

makeup that allows me to be an

56:12

excellent wealth manager and excellent CFP even

56:14

pass the freaking exam for CFP, which for

56:16

those of you out in the world don't

56:18

know, that's like the passing of CPA, it's

56:20

a real serious test that

56:22

Tom has passed. Um, and

56:25

so that tells me a lot of

56:27

things about Tom, right? And so, but Tommy, you just say,

56:29

Hey, the things that allow me to be good at this,

56:32

uh, could be, uh, working

56:35

against our relationship. And,

56:38

and so I want to reset the table

56:40

on our finances to where even though I'm

56:43

an expert in finances, we

56:45

have to have equal footing in

56:47

deciding about our money. And you have to vote

56:49

half and I have to vote half and we

56:51

have to combine them. And we've got to learn

56:54

to work together because the benefit is going to

56:56

be in our relationships going to go is going

56:58

to be a bazillion times better. And the other

57:00

benefit is, is we're going to end up with

57:02

more money. Okay.

57:04

And all of that, as you can tell,

57:06

had a lot of humility and empathy. It

57:08

was not attacking an aggressive and

57:11

combative. That's not going to get you far. Yeah.

57:14

He's not, he's not a, uh, you're, you're not

57:16

aggressive. You're just a math nerd. Yeah.

57:20

And it just, it's just the way it

57:22

manifests itself. It's like your excitement,

57:24

well, I mean, yeah. You just

57:26

enjoy the whole thing. And it's like, you know, and,

57:29

and she's like, who I'm afraid if I get over

57:31

there, I'll get that on me, you know, it's like,

57:33

you know, and so it's cooties. Yeah. It's cooties, math

57:35

cooties. So, um, but that's, that's what

57:38

goes on in a lot of the stuff out

57:40

there. The spender feels like the

57:42

saver is not going to let them have a

57:44

vote. Yes. The math nerd doesn't

57:46

let the artist have a vote and

57:49

it can be man or woman. It's not necessarily, you know, it

57:51

happens to be the man of the math nerd happens to be

57:53

at my house on the math nerd. But, you

57:55

know, um, um, um,

57:57

it's not unusual at all for the lady to. be

58:00

that person and they can be intimidating. Well then you

58:02

show them, hey, what are your fears behind this? Because

58:04

you're still going to get to enjoy life. Here's a

58:06

line item that says, Whitney's fun money.

58:08

In the budget. But we have transparency and accountability,

58:10

which by the way is kind of what a

58:12

relationship is built on. Trust. There

58:15

we go. Lots of increased communication. When

58:17

you handle your money together, you're handling

58:20

your life together, boys and girls. It

58:23

changes everything. This is the Ramsey Show. George

58:30

Campbell, Ramsey Personality is my co-host

58:32

today. Open phones at 888-825-5225. Today's

58:39

question comes from Ben in

58:42

Nevada. Ben

58:45

asks, when you give to charitable organizations,

58:47

how do you ensure the gifts are

58:49

being used appropriately? Are there ways to

58:52

vet organizations or can you track what

58:54

they do with donations? Great

58:56

question. Very good. The

59:01

way we vet it with

59:03

the Ramsey Family Foundation, which my daughter

59:05

runs, is that we do

59:10

due diligence on the whole organization because we're

59:12

going to be giving a

59:16

reasonably large gift. It

59:18

warrants the time to look

59:21

into it. One of the things we look for

59:23

is to see

59:26

operational excellence and efficiency.

59:30

One of the gauges of that is

59:33

they'll usually give you a copy

59:35

of their budget and you

59:37

can see what percentage of their budget goes

59:39

to administration and what percent

59:42

actually goes to feeding

59:44

hungry kids. If hungry kids is the

59:46

ministry or taking care of the homeless,

59:48

if the homeless is the ministry, whatever it is, you can

59:50

see what percentage of the budget.

59:52

They take in a million dollars

59:54

and they spend 900,000 on salaries. We've got

59:57

a problem. They

1:00:00

take in a million dollars and they spend $100,000 on admin and

1:00:02

another X number of dollars

1:00:05

on salaries. Now, we still got the vast

1:00:08

majority of the money going to the

1:00:10

actual cause, which is what happens. What

1:00:13

stops people from giving a lot of the time is

1:00:15

the skepticism that any of this money will actually go

1:00:17

to the cause I'm passionate about. You can look at

1:00:19

it. Most ministries

1:00:22

or charities of size will

1:00:24

have those ratios readily available

1:00:26

and even their budget readily available. You can

1:00:28

look at it. I mean, tax forms

1:00:31

are public. You can see. They're not, you know,

1:00:33

they're, was it nine, what are they called, nine

1:00:35

something forms or? Yeah, form 990. And

1:00:39

that'll show you, you know. You can tell what's going on with

1:00:41

that. They have a high ratio of overhead expenses that could be

1:00:43

a readily available. But again, you're investing some time now, so you're

1:00:45

not going to do that for a $50 gift. This

1:00:50

is a, you know, a

1:00:52

gift of some substance because you're going to put some

1:00:54

time into it before you

1:00:56

do that. And

1:01:00

then we do some

1:01:05

things with a foundation and certainly

1:01:08

some things just out of my front

1:01:10

left pocket that are just

1:01:12

random acts of kindness, random acts

1:01:14

of generosity. And there's

1:01:16

absolutely zero investigation

1:01:20

or expectation or

1:01:22

anything else. It's just like God

1:01:24

said, help the lady at the gas pump. And

1:01:27

so we did something. You know, we're not doing

1:01:29

background checks here. Yeah, we're not, we're not checking

1:01:31

that out. We're, you know, we're going to leave

1:01:33

a $500 tip at a cool little restaurant that's,

1:01:36

that a right waitress or waiter has

1:01:38

never gotten a tip that size. And just, and that's

1:01:40

just a God thing. But that's, that's

1:01:42

random. That's not the

1:01:45

planned, diligent, careful,

1:01:48

wise giving that you're, that you're asking

1:01:50

about Ben. And

1:01:53

here's the other thing. The last piece of it is, and

1:01:56

you can depend on this too much. So don't depend on

1:01:58

too much. You need to do the wise investigation. congregation

1:02:00

on large sums and you need to think you need

1:02:02

to be wise about

1:02:04

the investing God's money into his

1:02:07

kingdom Because some of

1:02:09

his people are sweet, but they're done and

1:02:11

so you just don't you don't want to put

1:02:13

money in there It's a mess and so they

1:02:16

got good hearts, but it's a mess and

1:02:18

all you're doing is if you give them a bunch of money You're

1:02:20

making a bigger mess. It doesn't it doesn't fix the mess and

1:02:23

so But

1:02:25

but at the end of the day

1:02:27

the other thing you need to remember I remember

1:02:29

about giving her two principles one is it's not

1:02:31

mine anyway I'm

1:02:34

managing it for God and so

1:02:37

what I'm doing is I'm giving away God's money

1:02:39

and Okay,

1:02:43

that Kind of means

1:02:45

I have to be even more careful, right? I got

1:02:48

a report to the boss about what happened with his

1:02:50

money, right and that kind of thing So and

1:02:52

then the second thing is the biggest

1:02:55

benefit of generosity is

1:02:57

not the receiver The

1:03:00

biggest benefit is to the giver It

1:03:03

changes your psychological well-being it changes

1:03:05

your spiritual walk. It changes

1:03:07

your relational low is your blood pressure

1:03:09

It's a little younger generosity affects the

1:03:11

giver and and Jesus even said that

1:03:13

he says better to give than to

1:03:15

receive and Sometimes people hear that

1:03:17

from Jesus's words and they think oh, well, that's

1:03:19

very noble and he wasn't noble.

1:03:22

It was instructional It

1:03:24

wasn't like oh, you're you know, you're better if you're

1:03:26

a giver than if you're a receiver No, that's not

1:03:28

what he was saying. He was saying it's better for

1:03:30

you You change

1:03:32

you when you give your

1:03:34

generosity muscle is built. It makes you into a

1:03:37

better human So, you

1:03:39

know like for instance, I talked to an old Baptist

1:03:41

preacher one time I was speaking at this Baptist Church

1:03:43

in Kentucky is a great church. It's wonderful. This is

1:03:45

a long time ago and several

1:03:47

thousand people there that morning and He's

1:03:50

I was talking about the tithes in the Christian

1:03:52

world and there was my talk that morning at

1:03:54

his church And he said, You know?

1:03:56

Interesting thing. He said I've been pastor in 45 years. I've never

1:03:59

had a couple that. Hi get divorced.

1:04:02

Whoa. Ah, so why

1:04:04

you think that is? Is. Is some

1:04:06

kind of like mystical. Spiritual. Protection

1:04:08

over tigers that they don't lose their

1:04:10

marriages he said. No. Tithing

1:04:12

represents giving and giving represents generosity. And

1:04:14

generosity means you're thinking about other people

1:04:16

not yourself and people think about other

1:04:19

people are really easy. Live with. Wow.

1:04:22

Santa. Com and Kentucky sense there you know I

1:04:24

may not just good as Powerful Good in our

1:04:26

hit A Didn't know he didn't like woo woo

1:04:28

spiritual. Long may he just like Pace. If.

1:04:30

Your generous your easier for he can live with.

1:04:33

I mean you know if you're not a self

1:04:35

centered work. In our is what

1:04:37

eight and say that I did but I'm

1:04:39

it. but your neighbors that guy would never

1:04:41

say that. but yes but arm and there

1:04:43

are sites. Today's point you're saying do the

1:04:45

research like Charity Navigator you can do you

1:04:47

can utilize yes it help you do the

1:04:49

research as well And the evangelical world the

1:04:51

He C P A or whatever it's called.

1:04:53

there's a ah an organization that well that

1:04:55

those that they were they vet the out

1:04:57

ah accounting systems and their finances. Much of

1:04:59

the finances are run correctly and you'll see

1:05:01

their will emblem on there are they put

1:05:03

it for if it's us a ministry and

1:05:05

the evangelical. World you can possibly see

1:05:08

that. Ah, I'm. A. Psych. Forget

1:05:10

what it stands for. be way it's it's A. It's

1:05:12

a good organization and I do Checketts, but even if

1:05:14

it's gotta stamp on it, we still look at it.

1:05:17

We. Still want to do that but we're

1:05:19

giving. We have those three things you

1:05:21

can do with money and joy. It's

1:05:23

invest it and give it your that

1:05:25

from Ramsey's all the time Ramsey people

1:05:27

dance and and are there. But you

1:05:29

always want generosity and your plants again

1:05:31

because it changes your life. Your.

1:05:34

Life? Not There's. So.

1:05:36

Many. You give a thousand dollar or

1:05:38

two thousand are card of a single moms.

1:05:41

It changes her life but if you do

1:05:43

that it changes your life. It.

1:05:45

Changes have you are you walk around smiling

1:05:47

all day. You can stop it and arm

1:05:49

is it's it's. the best thing you can

1:05:51

learn to do with money. His generosity such

1:05:54

a really good question pants and know we

1:05:56

don't track what they do with the donations

1:05:58

afterwards. unless buying

1:06:00

them a particular item like

1:06:02

we bought a truck one time for a

1:06:05

delivery for a

1:06:07

food bank thing and they were delivering food

1:06:09

so the foundation bought a truck a big

1:06:11

truck for them refrigeration

1:06:13

thing and all that and so we yeah we

1:06:15

wanted to see that the truck happened because

1:06:18

we didn't buy it we give them money to buy it

1:06:20

and so we followed up on that but in terms of

1:06:22

just do I track do I put a fishing line on

1:06:24

every dollar and try to follow it all the way through

1:06:27

every trends no that'd be exhausting you know it's

1:06:29

cool you know Charity Water we've been friends with

1:06:31

Scott Harrison founder of Charity Water and what they

1:06:33

do is he's been on the show yeah he's

1:06:36

and they've been very transparent what's cool is that

1:06:38

with theirs now they go you can actually track

1:06:40

the water project your dollar went to and so

1:06:42

they have different ways now Scott

1:06:44

got onto something when he started Charity Water he spoke

1:06:46

at Church Sunday and I he's got a wonderful

1:06:48

story but um and

1:06:51

he I've been emailing this weekend again just because I was

1:06:53

telling me did a great job but the he

1:06:56

was brilliant and then he came up with

1:06:58

a different model Charity

1:07:00

Water gives clean water to

1:07:02

people all over the world don't have clear water what they

1:07:04

do it's a wonderful minute wonderful ministry

1:07:07

charity a hundred percent

1:07:09

of your dollars go to

1:07:11

get clean water if you give it a cherry water

1:07:13

he has a separate nonprofit called

1:07:15

the well that pays all

1:07:17

the overhead so overhead is privately funded with

1:07:19

a specific set of donors and me the

1:07:21

consumer when I give a hundred percent goes

1:07:23

to the one you get you can give

1:07:26

to the well and support their overhead or

1:07:28

you can give the charity water and a hundred percent

1:07:30

goes to clean water drilling a well

1:07:32

putting in a filter system whatever it is they've

1:07:34

gotten into various methods yeah and then he does

1:07:36

a wonderful job of reporting

1:07:39

back with webcams and everything else

1:07:42

showing you what happened because you were

1:07:44

able to you know give

1:07:46

this number of dollars I hope that catches

1:07:49

on with more charity really cool it's a

1:07:51

good model is brilliant he's a brilliant guy

1:07:53

but he's impacted the world

1:07:55

literally and so but that's

1:07:58

just one of them there's lots of good

1:08:00

people are doing good work. That's

1:08:03

what you're looking for is some accountability. This is

1:08:06

the Ramsey Show. Hey

1:08:10

guys, it's Rachel Cruz and I'm beyond excited

1:08:12

to tell you that my new kids book,

1:08:14

I'm Glad for Where I Am, is available

1:08:16

for pre-order. And there's more. When

1:08:19

you pre-order, you'll have access to a live event that I'm

1:08:21

doing from my home, Storytime with

1:08:23

Rachel. Join me as I

1:08:25

read this new story about gratitude and the

1:08:27

gift of home to you and your kids.

1:08:30

Plus, we'll do a live Q&A. So go

1:08:33

to ramseysolutions.com/store and pre-order

1:08:35

your copy today. That's

1:08:38

ramseysolutions.com/store. George

1:08:42

Camel, Ramsey Personality is my co-host

1:08:44

today. He is the author of

1:08:47

the bestselling book, Breaking Free from Broke.

1:08:49

It has been a huge seller, the

1:08:51

ultimate guide to more money and less

1:08:53

stress. Ken Coleman,

1:08:55

our fellow Ramsey Personality,

1:08:57

developed with our team

1:09:00

a Get Clear Career

1:09:02

Assessment a couple of years

1:09:04

ago. It is a huge bestseller. You take the

1:09:06

assessment and you get clear about what you're doing

1:09:08

with your career, what you're doing with your work.

1:09:11

We've had almost 100,000 people take that now. It's

1:09:14

a hugely popular assessment because

1:09:16

it's excellent. So we're

1:09:19

really excited to announce Ken's latest book,

1:09:21

Find the Work You're Wired to Do,

1:09:23

which will show you how to use

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the results from the assessment to get

1:09:28

specific in your job search and find

1:09:30

the work you enjoy. The

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assessment comes with the book. The

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1:09:43

do professionally, and how to get

1:09:45

there. You can pre-order

1:09:47

the Get Clear Assessment,

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Find the Work You're Wired to

1:09:52

Do book. You're going to

1:09:54

get the audio book and the e-book free. And

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each of them come with a code for an

1:09:59

assessment. you're gonna get three of the assessments. If

1:10:02

you pre-order it comes out the first week of

1:10:05

the first week of May so

1:10:07

you're gonna be ready to get that then.

1:10:09

Now the other exciting news next week on

1:10:12

the 16th Rachel's brand new kids

1:10:14

book I'm glad for

1:10:16

where I am all about gratitude

1:10:18

is coming out. It's her second

1:10:20

kids book the first one I'm

1:10:23

glad for what I have which

1:10:25

was about contentment great

1:10:27

storytelling amazing lights out

1:10:30

illustrations in this book

1:10:32

fabulous kids book and we know that

1:10:34

kids that are read to have

1:10:36

a higher IQ have a higher

1:10:39

likelihood of exceeding academically in all

1:10:41

areas kids that are read to it is

1:10:43

magical what happens when you read these little

1:10:45

children and so I read to the grandbabies

1:10:47

all the time even though I

1:10:49

still have trouble getting through dr. Seuss with

1:10:51

my tongue twisters but but I can still

1:10:54

do it I don't like

1:10:56

green eggs and ham sam I am I'm

1:10:58

just saying okay you memorized it by now

1:11:00

yes but the but it and we they

1:11:02

learn pretty quick which ones are the long ones

1:11:04

so they can stick they love that is not a

1:11:07

long one it doesn't take long to get through this

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so that's good news parents love that the other thing

1:11:11

we know is that kids that are grateful and

1:11:14

kids that are content grow

1:11:17

to become excellent adults and

1:11:20

as my friend and the Andrews says we're not

1:11:22

trying to raise great kids we're trying to raise

1:11:25

kids that become great adults and that's the whole

1:11:27

process there all of this is at

1:11:29

Ramsey solutions calm check it out at our store

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you can get any of these books pre-order order

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whatever we're doing here it's all good I did

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the math he pre-ordered both of those books you

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get free shipping right now on the site so

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there's a little bonus because I love a good

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deal Wow there you go

1:11:45

get Rachel's book pick up Ken's new book pre-order

1:11:47

both there we go uh...

1:11:49

crystals with us in new york hi crystal

1:11:51

welcome to the ramsey show why

1:11:54

thank you thank you so much for taking my call

1:11:56

how are you better than I deserve how can we

1:11:58

help I

1:12:00

really need your advice. To give

1:12:03

you a little background, I have a

1:12:05

full-time job and I take care of

1:12:07

a sibling that has mental disabilities. Now

1:12:10

last year, I started my LLC

1:12:12

because I wanted to supplement my

1:12:14

income while working at home. Now,

1:12:16

so far, I spent close to $10,000

1:12:18

on my LLC and I haven't made

1:12:21

any money yet. I put

1:12:23

off creating my website because I had to save $4,000

1:12:25

to have it created because I'm

1:12:27

not tech savvy. You don't need $4,000 to create a website. You

1:12:33

can use Wix and do it for free. I mean,

1:12:36

there's no need to go spend all this money on

1:12:38

this business that has no revenue so far, but

1:12:40

continue. Okay. Now,

1:12:45

because I am very bad

1:12:47

with budgeting money, as you probably already know, but

1:12:49

now the icing on the cake is I have

1:12:52

a medical condition that's going to

1:12:55

need long-term care. So

1:12:57

when I reached out to different insurance companies,

1:12:59

the underwriters, they don't want to touch it.

1:13:03

So my question is, should I continue

1:13:06

to pursue my small business

1:13:08

or take that money and put

1:13:11

it in a banking account for my

1:13:13

long-term care that I know I'm going to eventually need?

1:13:17

Okay. How long from now

1:13:19

do you think you're going to be needing long-term care?

1:13:24

The doctors are unsure because they

1:13:26

don't know why I have my

1:13:28

condition. Twenty-five years or

1:13:30

twenty-five months? Oh,

1:13:33

I'm sorry. What happened? Twenty-five years or

1:13:35

twenty-five months? It

1:13:38

could be five years. Okay.

1:13:42

All right. So you got some time. This

1:13:44

is not imminent then. Okay.

1:13:48

Well, I think the answer is if the LLC is

1:13:50

making money, it's going to make you more money than

1:13:52

a bank account will make. But so far it's not

1:13:54

done anything but take money. So

1:13:58

we've got to get it making money or we can't depend. depend on

1:14:00

it, right? Right. What

1:14:03

is it? What is your side gig? What are you trying

1:14:06

to build here? Voiceover. Voiceover?

1:14:10

Yes. Okay. All right.

1:14:13

And you've done that kind of work before? Oh,

1:14:17

no. I've always wanted to

1:14:19

do something with my voice but

1:14:21

never knew how to go about doing it. Mm-hmm.

1:14:26

And... Well, I actually took a

1:14:28

class in the summertime and

1:14:30

Billy enjoyed it, loved it. What did you spend the

1:14:32

$10,000 on? Oh,

1:14:35

the actual course, which is like $6,000, where

1:14:39

they train you and then

1:14:42

creating my actual LLC, I had a company do

1:14:44

it for me because they walked me through it

1:14:46

step by step and then turning

1:14:48

my bedroom into the actual studio. I had

1:14:50

to soundproof it. And do you

1:14:53

have the equipment to do the work now? Yes.

1:14:55

Yes, I do. And why do you not

1:14:57

have customers? Did they teach you how to get customers? Well,

1:15:01

I have to do the website first. You

1:15:04

have to have a website to get customers? Yes,

1:15:07

because I have to put the demos on

1:15:09

the website to send it to clients so they can

1:15:11

hear me on the website. Well,

1:15:14

you could send that over e-mail if you knew the people

1:15:16

to contact. You could just send them an MP3, yeah. Oh,

1:15:20

okay. Right now, you need to know the right people. I don't think the

1:15:22

website is the thing holding you back. Yeah. Okay.

1:15:26

I need you to go get a whole

1:15:29

bunch of customers. And George's right, you can

1:15:31

put up a real basic website for almost

1:15:33

nothing or nothing. Okay. And

1:15:35

you're talking to you for a few minutes, you're smart enough to

1:15:37

do it. What's the name of the site you would recommend, George,

1:15:39

again? Wix, W-I-X is a popular

1:15:42

one. I've used one called Squarespace. Again, all

1:15:44

of these, you know, you're talking zero to

1:15:46

$100, not $4,000. And

1:15:48

truly, you can do it yourself. Yeah. Squarespace

1:15:51

or Wix, W-I-X. And we're not endorsing either one

1:15:53

of those. I'm just giving you some ideas that

1:15:55

this is, it's a lot of cut and

1:15:57

paste because you're not really trying to create a complicated site.

1:16:00

piece of programming here. You're making a business card. You

1:16:02

just need an electronic business card

1:16:04

where you've got some of your demos

1:16:07

up there or somebody can push play

1:16:09

and play an audio file. That's

1:16:11

all we're looking for and then of

1:16:14

course you're gonna deliver most of

1:16:16

your stuff by email. Yes.

1:16:20

Okay so you can deliver demos

1:16:24

by email. Have you got demos laid down in your

1:16:27

computer? Yes. Okay. Yes. Alright so what I need

1:16:29

you to do is I need you to go

1:16:31

find like a whole bunch of customers in the

1:16:33

next 30 days ready set go. Okay.

1:16:36

I want you to be overwhelmed because you have

1:16:38

so much work you can't breathe and you're

1:16:40

a little bit you're a little bit frazzled because there's

1:16:43

too much coming at you. I want you to get

1:16:45

that many customers. Gotcha.

1:16:47

Because that's the weak spot in what you're talking

1:16:50

about. So far all you've done

1:16:52

is pay other people for the stream. Yeah.

1:16:55

Now it's time for you to get paid for the stream

1:16:57

and go find people who are doing it and maybe they

1:16:59

pass off the ones that you don't have time for. You

1:17:02

get your start that way. Okay.

1:17:05

But what do you do full time? I'm

1:17:08

a correction officer. Okay. How much do you make

1:17:10

doing that? My

1:17:15

take home is 4300 a month.

1:17:17

Okay. Good. Well

1:17:21

the voice world has

1:17:23

dramatically changed like everything else

1:17:25

with a microphone in

1:17:29

the last 20 years because of the digital

1:17:31

space that we're in. And

1:17:34

so I mean it used to be

1:17:36

that you had to be a

1:17:38

proven product to be able to

1:17:40

sit in front of a microphone and

1:17:43

now if you

1:17:45

want to be a podcaster you can be by the end of

1:17:47

the day. You know. Now AI

1:17:49

can do voice over. Yeah. And

1:17:51

you gotta compete with that. And it

1:17:53

used to be that we would mail the sounders

1:17:56

for the radio station to the voice guy

1:17:59

and he would send the tape through the

1:18:01

mail and we would load the tape.

1:18:04

We're a long way from that. This is a

1:18:06

very easy business to get into now. And

1:18:09

I want you to go get into it big time in the next

1:18:11

30 days. Ready,

1:18:13

set, go. That puts

1:18:15

us out of the Ramsey Show in the books. Live

1:18:48

from the headquarters of Ramsey

1:18:50

Solutions, it's the Ramsey Show.

1:18:52

We help people build

1:18:54

wealth, do work that

1:18:57

they love, and create

1:18:59

actual amazing relationships. George

1:19:02

Campbell, Ramsey Personality, number one best-selling

1:19:04

author, host of the George Camel

1:19:07

Show, celebrating one year

1:19:09

of excellence on YouTube. He's my

1:19:11

co-host today. Open Pones here

1:19:13

at 888-825-5225. Celeste

1:19:17

is in Jacksonville, Florida. Hi, Celeste, how

1:19:20

are you? I'm

1:19:22

great. Thank you so much for taking my call. Sure. What's

1:19:24

up? Okay.

1:19:26

So my husband and I are

1:19:28

property managers at a self-storage

1:19:30

facility. We make $4,000

1:19:33

per year together and we

1:19:35

don't have any housing expenses because one

1:19:37

of the benefits of the job is

1:19:39

having an apartment with utilities included. My

1:19:42

husband has a side hustle that makes an extra $500 a

1:19:44

month. We are

1:19:46

projected to be debt free at the end of May.

1:19:49

With this income, we will be done

1:19:52

with Baby Steps 3 by the end

1:19:54

of December of 2024. Then

1:19:57

we're wondering how do we meet the

1:19:59

manual... underwriting requirements if we stay

1:20:01

in this job for the next two

1:20:03

years while saving up for down payment. Well,

1:20:09

I mean, part of your compensation is

1:20:11

housing and that counts as

1:20:13

part of your, when someone's

1:20:15

looking at it, because you're making this net of

1:20:18

housing. So a pastor, for

1:20:20

instance, that has a parsonage furnished, that

1:20:23

housing cost is included.

1:20:25

If you're looking at someone that's in the military,

1:20:27

it's been in the military for the last two

1:20:29

years and they've been living on base, so

1:20:32

you look at their income, but they've got

1:20:34

housing. And so that's part of the calculation

1:20:37

when someone's looking as to whether you're financially

1:20:40

able to take out a mortgage.

1:20:43

Now, the trick is this. What

1:20:47

are you going to be doing when you

1:20:49

don't live there anymore that creates income? That's

1:20:52

what they're going to want to know. Right.

1:20:56

And that's a great question

1:20:58

because honestly, we love

1:21:00

what we're doing right now because it

1:21:02

has so much flexibility and I personally

1:21:04

am trying to build an online business

1:21:06

right now that helps people optimize like

1:21:09

nutrition and to reach their fitness goals.

1:21:11

So that's what I'm working on now

1:21:13

in the hopes of hard work for

1:21:16

two years of that that'll like supplement

1:21:18

the income that we have now. And

1:21:21

then for my husband... I mean, if you bought a

1:21:23

house and moved out into a house, you'd have to

1:21:25

have a job, right? Right,

1:21:28

exactly. And so that's where I'm

1:21:30

like kind of stuck too because

1:21:33

I would love this business already

1:21:36

to be running to the point where that

1:21:38

is my job, my first-time job. That

1:21:40

may have to happen or something else is going

1:21:43

to have to happen because, you know, again, you're

1:21:45

just asking what the mortgage company's looking at. So

1:21:48

pretend like you're the mortgage company for a minute. Do

1:21:50

you want to loan someone money that doesn't have a

1:21:52

job? No, I don't. Yeah, yeah.

1:21:55

They're going to look at tax returns in the last year or

1:21:57

two and make sure that you have consistent income. You're

1:22:00

going to look at your savings, your bank statements, all of that,

1:22:02

seeing what kind of money is coming in and out. And

1:22:05

then one or more regular monthly expenses as

1:22:07

an alternative trade line. So something like a phone

1:22:09

bill or a utility bill could count. Yeah, but

1:22:11

part of you buying a home is you don't

1:22:13

live on the warehouse site anymore, so you don't

1:22:15

get to be the warehouse manager anymore. And

1:22:18

so that you are changing your careers as

1:22:21

a part of this purchase. And so that's

1:22:23

what you've got to solve for more

1:22:25

than really looking

1:22:28

at the income because that income that you're making

1:22:31

now doesn't even really apply. But

1:22:34

if they wanted to look back two years and

1:22:36

say, have you made an income? Yeah, I did.

1:22:38

And I had this plus I got free housing.

1:22:41

They can make that part of the equation, but

1:22:43

they're also going to want to know, since you're

1:22:45

not working there anymore because you're moving out, what

1:22:48

are you going to be doing? Yeah, consistent income in

1:22:51

the future. That's part of our process here. All

1:22:53

right, up next is going to be Eric in Green Bay,

1:22:55

Wisconsin. Hi, Eric, how are you? Hey,

1:22:58

Dave. Hey, George. How are you?

1:23:00

I'm taking my call. Sure. What's

1:23:02

up? Well, I wanted to get some

1:23:04

feedback from each of you on my situation. My

1:23:06

wife and I are 47 and

1:23:09

I just started releasing them to

1:23:11

the show quite a bit in the last like four or

1:23:13

five months. And ironically, I just

1:23:16

sort of backwards had some of the

1:23:18

baby steps covered, but not I had

1:23:20

some debt. So I aggressively cleared that.

1:23:22

And so other than the mortgages, I don't have

1:23:25

any debt presently. My wife and I

1:23:27

have a cottage in a house though, and

1:23:29

our goal is to retire at 55. And

1:23:33

we're looking at right now in four years,

1:23:35

the plan is to move up to our

1:23:37

cottage and sell the house

1:23:40

and then take the equity in the

1:23:42

house, pay off the remainder of the cottage. However,

1:23:44

in terms of where I'm at and following

1:23:46

the baby steps, I would be,

1:23:48

I guess, at the state where I would be at step

1:23:50

six. And I'm wondering if

1:23:52

in my situation, we're trying to build

1:23:54

up as much wealth

1:23:58

right now so that we have enough. to

1:24:00

live between when we start drawing

1:24:02

off of per pension, our 401K

1:24:04

and Roth and things like that.

1:24:08

The opportunity I have though is the organization

1:24:10

I work for is an S corporation and

1:24:13

I recently was given

1:24:15

the opportunity to start buying in

1:24:17

on that. Would it make

1:24:19

sense for me to invest,

1:24:22

you know, the extra, I guess in terms of

1:24:24

the debt snowball, would it make best to invest

1:24:26

in that right now

1:24:29

which typically historically it's

1:24:31

about a 14 to 18% return. My

1:24:35

mortgage on each of those two mortgages I have is only 3%

1:24:39

but I could certainly start paying that

1:24:41

off more aggressively but I just can't understand if it

1:24:44

would make sense to do that given my goal of

1:24:46

trying to retire at 55. So

1:24:48

why are you investing in a sub-ass if you want to

1:24:51

retire? That's who you work for. Because

1:24:55

the dividends by

1:24:57

investing in it are, you know, like I said,

1:24:59

it's the best investment that I can make. I

1:25:02

have a 401K in everything that I'm investing in. No,

1:25:04

I'm saying when you quit are you not going to

1:25:06

divest? I will

1:25:09

but that'll be at 55. Yeah,

1:25:11

five years from now, right? Eight

1:25:13

years from now. Oh, okay. All right.

1:25:16

And it's just

1:25:18

kind of the feeling of should I, you know. Yeah,

1:25:20

there's a lot of different subjects going on at

1:25:22

one time here so let's kind of break them apart

1:25:25

and address them

1:25:27

for a lot of different reasons. Let's

1:25:29

just call it a single stock

1:25:32

investment, okay, for a second. If

1:25:34

you said I want to invest in single stocks or I

1:25:36

want to invest in mutual funds instead of paying off the

1:25:38

cottage so that I've got

1:25:40

a big nest egg when I get ready to retire,

1:25:42

I would say now go ahead and pay off the

1:25:44

cottage because that sets you

1:25:47

up to move into a debt-free situation that

1:25:49

you don't have that payment anymore. You can

1:25:51

use that increased cash flow to invest and

1:25:54

then when you do sell your house instead of selling

1:25:56

your current residence, instead of using that to pay off

1:25:58

the cottage, you create the nest egg.

1:26:03

It's just flip-flopping it. Okay? Yeah. That's what

1:26:05

I would do. In lieu

1:26:08

of the... Now the other subject is

1:26:10

this sub-S, okay? And

1:26:12

so what I think I'm hearing is this is a

1:26:17

privately held small business of

1:26:19

some kind and they're letting you buy

1:26:21

into it and you will

1:26:23

be a minority shareholder. That's absolutely

1:26:26

correct. Okay. That's what I thought I was

1:26:28

hearing. Alright. So a lot of problems

1:26:30

there. You've got no liquidity. They

1:26:33

set the stock price somewhat by

1:26:35

an accounting system but somewhat arbitrarily and

1:26:38

you don't get to decide what the expenses are that

1:26:40

drive profits. You don't get to

1:26:42

decide on dividend distributions. You're a

1:26:44

minority shareholder. Your vote doesn't even count. You're

1:26:48

not in control. Let me tell you how much money

1:26:50

I put in stuff like that. Zero. Zero.

1:26:53

I can't get out of it. I

1:26:55

can't control it. Someone else arbitrarily

1:26:58

controls it and no way

1:27:00

I want in that deal. No way. I'm

1:27:02

gonna go with traditional investments where I can control them

1:27:05

and where I can get the liquidity. This

1:27:07

is The Ramsey Show. Hey

1:27:11

folks, Dave here. What does your dream

1:27:13

retirement look like? Do you want a

1:27:15

house on the lake so you can

1:27:18

fish every day? Want more time with

1:27:20

your grandkids? Whatever your dream is, you

1:27:22

need a plan to get there. At

1:27:24

our brand new virtual event, Investing Essentials,

1:27:26

I'll show you how to build your

1:27:28

investing plan with confidence. First, we'll cover

1:27:31

the basics of maximizing your 401k and

1:27:33

choosing mutual funds. Then you'll get a

1:27:35

peek into my personal playbook for investing.

1:27:37

I'll share the strategies I use

1:27:39

to analyze my investments including

1:27:41

real estate. Listen, you can do this

1:27:44

and I'll show you how to do

1:27:46

it the right way. It's all happening

1:27:48

May 21 to 22. Our special early

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1:27:53

price ends April 11th so get yours

1:27:55

today for just $199 or get a

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1:28:01

includes two sessions with a

1:28:03

Ramsey Preferred Financial Coach to

1:28:05

help you set and meet

1:28:07

your financial goals. Go to

1:28:10

ramseysolutions.com/events. Well,

1:28:13

the beautiful thing about Nashville is that

1:28:15

sometimes some of our famous friends drop

1:28:18

by, and that's the

1:28:20

case right now with Andy Irwin dropping by.

1:28:23

Andy's a famous filmmaker, for those of you

1:28:25

that don't know, and has become a good

1:28:27

friend and has done a

1:28:29

whole bunch of things over the years, anything

1:28:32

from music videos starting out with artists like

1:28:34

Skillet and Switchfoot and Michael W. and Amy

1:28:36

Grant and all that. Nowadays, he's

1:28:38

been making big-time movies. The

1:28:41

latest one that just went zoom-zoom

1:28:43

was the Jesus Revolution movie. It

1:28:45

went fabulous, and it was amazing,

1:28:48

absolutely amazing. And

1:28:50

the I Can Only Imagine

1:28:53

film, of course, with our friend Bart Millard from

1:28:55

Mercy Me. That one did... Y'all made

1:28:57

good money on that. My investors are

1:28:59

happy. Yeah, I know a couple of the investors.

1:29:01

They were very happy. Bart was

1:29:03

smiling. He was. Everybody was. We were giving

1:29:05

high-fives. Yeah, it was a good thing. So,

1:29:07

a new film coming out by this fabulous

1:29:11

film producer. It's

1:29:13

called Unsung Hero. It'll be

1:29:15

in theaters April the 26th. Andy

1:29:20

was nice enough to send Sharon and I a link,

1:29:22

and we were able to watch it in the comfort

1:29:24

of our home, a pre... Whatever you call that.

1:29:26

A pre-screener? A pre-screener. Yeah, a pre-screener there.

1:29:29

My own private version, just me and

1:29:31

Sharon. It was absolutely

1:29:33

fabulous. This movie is... It's

1:29:36

got one of the more powerful

1:29:38

story arcs for the

1:29:41

protagonist. The screenplay is excellent. It's

1:29:43

well done. Yeah, they did a great

1:29:45

job. I'm happy to fill in

1:29:47

until one of your famous fans show up, so I'll

1:29:49

just be a stand-in for whoever that is. But,

1:29:52

yeah, Dave, the reason why I sent it to you

1:29:54

is I felt like this story would really

1:29:57

click, just knowing your story and

1:29:59

knowing what... What y'all's story

1:30:01

came out of is

1:30:03

very similar in that regards where

1:30:06

this guy David Smallbone, who

1:30:08

his kids are the kids from

1:30:11

the band for King Country, so Joel and Luke

1:30:13

Smallbone. Joel plays his

1:30:15

father in this film and he directed it. It's

1:30:18

their story that they came over from

1:30:21

Australia as this young immigrant family chasing

1:30:23

the American dream. Got over

1:30:25

here with six kids, a seventh on the way. After

1:30:28

having gone broke. They lost everything. Yeah. Lost

1:30:31

everything. They were this close

1:30:33

to being homeless and didn't have any furniture, didn't have a car

1:30:36

and the local church rallied around them and tried to help

1:30:38

get them on their feet and they did

1:30:40

everything from cleaning houses to doing

1:30:44

yard work as a family. This

1:30:46

whole thing, David thought that his family was

1:30:48

in the way of his dreams until he

1:30:50

finally understood that his family was the dream. They were

1:30:52

the way. It's a

1:30:54

beautiful, beautiful story. Unsung Hero is

1:30:56

really referring to mom. Yep.

1:30:59

The two of the family was Helen,

1:31:01

the mother. She was this one

1:31:03

where while her husband

1:31:05

was off chasing grandeur, she

1:31:07

was the one that held this family together. She was

1:31:09

the glue. Then, at the

1:31:11

end, he realized the treasure that he had in his

1:31:14

wife fighting for the family and

1:31:16

that became the dream. The

1:31:18

kids for that matter. The oldest was

1:31:20

Rebecca St. James. Rebecca St. James. A lot of

1:31:23

people don't know that. Rebecca St. James was just

1:31:25

... I remember when I was in college, she

1:31:27

was a force of nature. Christian

1:31:30

artist that was on fire. Christian artist that was on fire. Yes. Get

1:31:33

going. She just redefined what Christian music

1:31:35

sounded like. She was that round and the whole

1:31:37

time, her little brothers were helping out behind the

1:31:39

scenes and that became Joel and Luca

1:31:41

for King and Country that are set in the world on fire

1:31:43

now. It's their whole family story.

1:31:47

Joel telling it and playing his father ... When

1:31:49

he came to me, he said, I want to

1:31:51

do this movie.

1:31:54

I was like, okay. He's like, I want to do it. In

1:31:56

the next three months, he's like, all right. He's like, I want to direct it. I

1:31:58

want to play my father. But

1:32:02

you're crazy enough, I'll go with you.

1:32:04

Yeah, that's counseling therapy stuff right there.

1:32:06

Exactly. Oh my goodness, wow. So

1:32:09

I know what Sharon and I walked away.

1:32:12

We not only were entertained, we were inspired

1:32:14

and reminded the, I guess,

1:32:16

the power of the human spirit and the power of

1:32:18

God showing up in the middle of a family and

1:32:21

showing that He had a plan for them. That's

1:32:23

what we came away from the movie with. What are

1:32:25

you guys hoping that the audience gets? I mean, I

1:32:27

think right now the most rebellious thing we can do

1:32:30

is tell stories of hope that

1:32:32

lift up the family. I mean, I

1:32:34

think the family has been so kind

1:32:36

of pushed down by a lot of societal

1:32:38

messages for so long that the idea

1:32:40

of telling a story where the family gets to be the hero

1:32:44

and keeping the family together, I think

1:32:46

it's a rebellious story. And so I want to lift

1:32:48

up the power of the family, the power of parents,

1:32:51

the mother's influence on this

1:32:53

family, and ultimately

1:32:55

understanding that it's not about

1:32:58

chasing the American dream, it's about chasing your

1:33:00

family being the dream and that's where you

1:33:02

find the bigger purpose. And so it's

1:33:04

one that I think really registers reminding

1:33:06

people the importance of their family. It

1:33:09

was interesting to me to be watching

1:33:11

it and having been around Nashville all

1:33:13

this time and I knew who David

1:33:16

Smallbone was and I certainly

1:33:18

knew who Rebecca St. James was. I

1:33:21

didn't know the boys story. I found that out a

1:33:23

little bit later because I'm the old guy. I'm

1:33:26

watching this thing and I'm going, I know these

1:33:28

people. Wait a minute. Because I didn't know

1:33:30

who it was at the beginning of the movie. I

1:33:32

had to get down into it before it clicked who I was actually,

1:33:34

what story was it about? I did set it up, Will, apparently. No,

1:33:36

you didn't need to set it up. You didn't send me an email.

1:33:38

It was fine. I wasn't complaining about it. But it

1:33:41

was from somebody who's kind of, these guys are all,

1:33:43

they all live within 10 miles of here. You

1:33:45

know what I mean? They're all right here in their

1:33:47

neighborhoods. And yet they're all world class talents at what

1:33:49

they do and fabulous people. And you didn't even know

1:33:52

that it was Joel playing his father. No, I didn't

1:33:54

until you and I had breakfast. Yeah, we were having

1:33:56

breakfast. You were like, who is it that played, that

1:33:59

was Joel. That's from the band. It's

1:34:01

like Daniel Ramsey playing Dave. Exactly. That's

1:34:04

pretty wild. I'm here to pitch you that

1:34:06

story. That's next. I'm going for the

1:34:08

Ram. That'd be a short

1:34:10

film. You

1:34:13

don't do short films. No, you

1:34:15

don't do. Well, you're doing something

1:34:17

really cool and for a limited

1:34:19

time, our Ramsey listeners can go

1:34:21

to this link, unsunghero.movie.ramsie, and they

1:34:23

can get free tickets. Yeah. How

1:34:25

in the world? The exciting thing about it is this is

1:34:27

really a grassroots story. It's

1:34:30

so important opening weekend to have just a strong

1:34:32

presence because that's where Hollywood

1:34:35

doesn't ever see us coming. What they predicted was, I can

1:34:37

only imagine, was it was just going to do a

1:34:39

fraction of what it did. They're like,

1:34:41

what in the world happened? Jesus Revolution fried their

1:34:43

brains. Same thing. Hollywood didn't know what

1:34:45

to do with those numbers. Those numbers were amazing. It

1:34:47

was amazing to watch. For

1:34:49

this one, we had a group of

1:34:51

businessmen donors come along and say, we'll

1:34:53

sponsor some tickets. The donor that sponsored

1:34:56

tickets specifically for your audience, saying

1:34:58

today, while it lasts, as soon as the

1:35:00

tickets are gone, they're gone. For

1:35:02

a limited time, if you go to unsunghero.movie.ramsie,

1:35:08

it'll have information on how to reclaim your ticket

1:35:10

codes for opening weekend. Take your family

1:35:13

on us and just for being a listener of the

1:35:15

Ramsey show. You get up to two tickets and the show times are

1:35:18

between 4.24 and 4.28 and the code is hero

1:35:22

free at checkout. It's really generous of you. Thank

1:35:24

you for doing that. We're excited. Our

1:35:27

listeners are going to be excited. I think they're a great target audience for this

1:35:29

kind of movie. We're all about hope around here. I

1:35:31

don't know if you've listened to the show for a

1:35:33

few seconds, but great crossover there. Talk

1:35:35

about the cast. That was interesting. Obviously, Joel playing

1:35:38

his dad, but there were some other issues. As

1:35:41

we did it, Joel really wanted to make

1:35:44

sure the casting was authentic. He

1:35:46

was really picky about who played his mom.

1:35:48

I would be too. That's a tremendous responsibility.

1:35:51

We found this one actress in

1:35:53

Australia that we knew through some

1:35:55

friends. He loved her body of work named Daisy

1:35:57

Betts. She had taken four years off

1:35:59

from acting to be a mom and

1:36:02

had gone into retirement. He

1:36:04

called her and talked her out of retirement. She

1:36:06

absolutely steals the show. She does. She

1:36:09

does. Then we have some familiar faces

1:36:11

like Candace Cameron-Barré and

1:36:13

then Lucas Black who's amazing. He's

1:36:16

the only guy that has a thicker southern accent than me

1:36:18

and you. He's amazing.

1:36:21

They play this couple from the church that kind of-

1:36:23

He played in one of the other films. What did

1:36:25

he do? Yeah, he's been in a lot of stuff.

1:36:27

He's been on the Fast Furious movie. He started with

1:36:29

Sling Blade. He was a little kid in Sling Blade.

1:36:31

Yeah, but I saw him in something. Was it the

1:36:33

golfing movie? Yeah, he was in the golfing movie. It

1:36:35

was the one with Robert Duvall. Yeah. Yeah,

1:36:37

he did that one. He's amazing. It's

1:36:40

a great cast. Then

1:36:42

Hilary Scott from Lady

1:36:44

A, the band, she plays a part. It was

1:36:46

a lot of fun. We had a good time. What

1:36:49

part was she? She played the choir director. We

1:36:51

snuck her in there. If you look, she's the

1:36:53

choir director. I don't have to go back now.

1:36:55

Okay, I drove by that one. Well, he's rigged

1:36:57

for you. I know Hilary, but I drove by

1:37:00

it. Make up and hair. Yeah, exactly.

1:37:02

There we go. The movie's called Unsung

1:37:05

Hero. It is about a family that

1:37:07

overcomes and you will leave smiling with

1:37:10

hope. You'll be stressed before you get there. That's a

1:37:12

good story arc. Check

1:37:14

it out, unsunghero.movie.ramsie.

1:37:17

A donor has provided you guys a free

1:37:19

ticket. Go get it. Go

1:37:21

watch this movie and support and raise this thing up.

1:37:23

We need to raise up hope and family in this

1:37:26

country. It's a good thing to do. And

1:37:28

Andy Irwin, you're a rock star, man. We

1:37:30

appreciate you. God bless you. Appreciate

1:37:33

you. This is

1:37:36

the Ramsey Show. Listen up. Trying

1:37:39

to reach your money goals without a rock solid

1:37:41

budget is like trying to climb Mount Everest in

1:37:43

ice skates. It isn't going to work. That's

1:37:46

why we built the EveryDollar app

1:37:48

to help you win with money.

1:37:50

It's the simplest, most straightforward way

1:37:52

to track your spending and give

1:37:54

every dollar a job. That

1:37:57

way you can stop letting your money push you around and

1:37:59

start winning. reaching those money goals.

1:38:01

Download every dollar for free

1:38:03

on the App Store or

1:38:05

Google Play. George

1:38:09

Campbell, Ramsey Personality is my co-host

1:38:11

in the lobby of Ramsey Solutions

1:38:13

on the debt free stage. Keaton

1:38:16

and Kennedy are with us. Hey guys,

1:38:19

how are you? Doing great. Doing great.

1:38:21

Better than I deserve. Where do you

1:38:23

all live? Austin, Texas. All right. Welcome

1:38:26

to Nashville. Thank you. And how much debt

1:38:28

have you two paid off? All

1:38:30

right. How long did that take? Right around 51

1:38:32

months. Good job. And your range

1:38:34

of income during that four years? Started

1:38:37

at 105 and ended at 195. Excellent.

1:38:40

What do you two do for a living? I'm

1:38:42

a full-time firefighter with a lawn

1:38:44

care business on the side. And

1:38:46

I was in retail operations at a bank for

1:38:48

about 10 years and now I stay at

1:38:50

home on. Excellent. Well

1:38:52

done. What kind of debt is the 181,000? It

1:38:56

was auto loans, student loans,

1:38:59

personal loan and credit. And

1:39:02

our house. Paid off your house. Yes, sir. A

1:39:05

couple of weirdos. Yes, sir. Way to

1:39:07

go, weird people. I like it. Thank

1:39:09

you. Yes, sir. So what's this house worth?

1:39:11

About 300, maybe a little shy of 300. Very

1:39:14

cool. And how much in your net stake? We've got

1:39:16

about 20 and then another

1:39:18

80 to 100 in retirement. In

1:39:21

retirement? Okay. Excellent. Very

1:39:23

good. So how much did you be a

1:39:25

millionaire already with a paid four house? How old are you? I

1:39:28

just turned 30. Oh, wow. And I'm

1:39:30

28. And you have a paid four house. Yes,

1:39:32

sir. You all are really weird.

1:39:34

A little bit. I love it. I love it. So

1:39:37

tell us the story. What happened? How

1:39:40

did you get connected to all this Ramsey stuff?

1:39:42

Well, in 2019 we were engaged, about

1:39:44

to get married and a guy from the fire department I

1:39:46

work with invited us to do

1:39:48

Financial Peace University. So we signed up

1:39:50

for it. And we paid off

1:39:52

our consumer debt and then bought

1:39:54

the house that we have now. And

1:39:57

then we saved up Down

1:39:59

Payment. For some land without we're going

1:40:01

to build on. And we

1:40:03

prayed about it and God had other

1:40:05

plans and out. In. A real

1:40:07

say got extensive. Building. Got expenses

1:40:10

back and twenty one. So we sold

1:40:12

our land and ah but some of

1:40:14

that money towards a house com and

1:40:17

help pay it down. but we still

1:40:19

owed almost eighty thousand on the house

1:40:21

and as about really just kicked into

1:40:24

gear and. Got. On the budget and

1:40:26

prayed about it and. Paid. It off

1:40:28

a lot of smelling has been married. For

1:40:31

four years, four years so was this. As soon

1:40:33

as you got married you are like are it

1:40:36

was clean, some dead up arms. So

1:40:38

my the bank that I worked for

1:40:40

we actually and taught your principles mans

1:40:42

out the new year with the reins

1:40:45

the plan for a while before and

1:40:47

then. yeah I guess we just always

1:40:49

been. In Sync on

1:40:51

finances with never it's ever been an

1:40:53

issue. we've always been on the same

1:40:56

page. So yeah, It. Just became

1:40:58

well this is the plan we both agree on.

1:41:00

The plan was to the plan before you get

1:41:02

married and them go through the whole thing again

1:41:04

with var department rise up and as receivers to

1:41:06

again yes that we have and withdrew their we

1:41:09

both on to the same class with other firefighters

1:41:11

in their spouses down and uncles are They really

1:41:13

helped us stay focused. Now. Serves as

1:41:15

a reaffirmation what you are Dillard at the

1:41:17

Bank. But now I'm done it with my

1:41:19

husband. Very good, very good at school. They

1:41:21

haven't a crew doing this all together with

1:41:23

it's here and each other on raven each

1:41:25

other on what was the suppose. Ah yes,

1:41:27

yes, both. Yeah. Was

1:41:29

turns around and still we have guys that

1:41:31

are interested in doing it and so some

1:41:34

of to them on a meal or also

1:41:36

ribbon each other as well as part of

1:41:38

it. Have you been I'm you got to

1:41:40

Aspirin offers is that ah of I called

1:41:43

Testimony and Nm so they're inspired by by

1:41:45

you guys as well. Being so young with

1:41:47

a paid for house in this economy I

1:41:49

mean how do you even do that? I

1:41:52

was think you're weird around you that don't

1:41:54

understand or yeah weird or wrong one of

1:41:56

the to Africa seats not right now is

1:41:58

so. twenty eight and 30 in a paid-for house

1:42:01

worth over $300,000. Someone

1:42:04

watching this wants to know how do

1:42:07

you do that? What do you think

1:42:09

the key to getting out of debt is? For

1:42:12

me it's contentment. We

1:42:16

had awesome incomes, both of us. I

1:42:19

wouldn't say we talked about sacrifices. I

1:42:21

didn't really feel like we had to

1:42:23

sacrifice that much. We just

1:42:25

had to live within our means.

1:42:29

It was really... It's contentment. We had to

1:42:31

attend to what you had. It's just a fun... We already

1:42:33

had way more than we needed. It

1:42:36

was just cutting out the little things, the

1:42:38

restaurants, and not eating out as much. The

1:42:41

new vehicles, we always buy used vehicles

1:42:43

with 20,000 to 40,000 miles. We

1:42:47

drove here in a four or five-year-old

1:42:49

vehicle, six-year-old vehicle actually, with 60,000

1:42:51

miles that we paid for in cash. It's

1:42:55

discipline. Way to go, you

1:42:57

guys. It's interesting. The

1:42:59

word contentment is sacrifice. The

1:43:02

more content you are, the more other

1:43:05

people would say you're sacrificing, but it doesn't

1:43:07

feel like sacrificing. No, not at all. It's

1:43:09

not striving to live outside your means.

1:43:12

The less content you are, everything's a sacrifice. That

1:43:16

changes the whole equation. That's a very good point. Good

1:43:20

job, you guys. How does

1:43:22

it feel to be completely free? Amazing.

1:43:26

I get to be a stay-at-home mom. Yeah,

1:43:28

the same day we paid our house off, it

1:43:30

was our last day at the bank. Was that

1:43:32

coincidental, or did that happen that way? No.

1:43:36

No. She gave them a

1:43:38

good two months. A good two months notice. Yeah,

1:43:40

you hit the submit button. Submit my resignation and

1:43:42

submit that last payment. There we go. I

1:43:45

like it. Very, very good. Good for you guys.

1:43:47

These kids don't know how good they have it,

1:43:49

how incredible their parents are. Yeah, you guys are

1:43:51

heroes. Well done. What's

1:43:54

the first big thing you do now that you have no

1:43:56

debt? Well, see

1:43:58

you stay-at-home. home and

1:44:01

then we want to get