Cut Debt out of Your Life! (Literally)

[0] From Ramsey Network, this is The Ramsey Show, where we help people build wealth, do work that they love, and create amazing relationships.

[1] I'm George Campbell, joined by my friend Dr. John Deloney, number one best -selling author, and we're here to help you take the right next step for your life and your money.

[2] Give us a call at 888 -825 -5225.

[3] Sarah's up first in Dallas, Texas.

[4] How can we help, Sarah?

[5] Hi, how are you?

[6] We're doing great.

[7] What's going on?

[8] Great.

[9] So I am married, possibly separated from my spouse.

[10] I stay at home, and he is a breadwinner.

[11] I've raised our children.

[12] And I am not allowed to see any of our financial information, bank accounts, credit cards, passwords, nothing like that.

[13] Yikes.

[14] What do you mean you're not allowed?

[15] I know.

[16] He just says, that's how I was raised.

[17] I make the money.

[18] And he does have a lot of, he does very well.

[19] I don't care if he makes a dollar or a million.

[20] It has no bearing on your involvement in knowing what's going on financially in the family.

[21] I know.

[22] And he just says, I won't, he owns commercial real estate.

[23] And so he tells me, it's too much for you to handle, stay in your life.

[24] So we call that financial infidelity.

[25] That's what I've told him.

[26] And he just shakes his head at me. My therapist has said the same thing.

[27] And he just says, that's how I am.

[28] That's how my parents were.

[29] And I'm not changing.

[30] All right.

[31] Then here's the thing.

[32] Most people don't get that clear of a response.

[33] Now you have a choice to make.

[34] And I wish it wasn't this complicated.

[35] I mean, I wish it wasn't this simple, but it truly is.

[36] He's told you he's not changing.

[37] Yeah.

[38] And by the way, if you file for divorce and they do a forensic.

[39] investigation into all of his slash y 'alls, because you're from Texas, y 'alls money, it's all going to be put on the table.

[40] So he can be a grown -up adult and be an actual married man who loves and honors his wife and his kids and share the family finances together, or he can put it all on the table with the help of an attorney and a forensic accountant that he's going to pay for.

[41] So this is what has happened is we, this is very different from what I'm being told is we did come up with a post -nuptial agreement about two years ago.

[42] And in his mind, it was, if we separate, you will get this amount of money.

[43] Now stop talking about it.

[44] Stop questioning me. And so he says that if I go and investigate with this forensic accountant, that he will take that money away and he will try to take my children more.

[45] Yeah, hon, you need to go talk to somebody today.

[46] I've spoken to an attorney, and what they've said to me is, this is quite a good post -nuptial agreement.

[47] I would be very comfortable, honestly, for the rest of my life.

[48] He has a lot of money in cryptocurrency that I know he's hiding, and I know that's really tough to investigate.

[49] I don't understand what you're asking.

[50] If you have an exit strategy that's going to take care of you for the rest of your life and take care of you and your kids, I don't know what you're asking.

[51] So should I just take the post -nuptial agreement and let?

[52] I can't give you that.

[53] That's between you and your lawyer.

[54] I can't, I mean, I'm not looking at it.

[55] I don't have it.

[56] I don't know what you're dealing with at home.

[57] I just know you're in a very abusive situation and it's hard to see the forest from the trees.

[58] And I'm telling you that you're worth more than the life you're living right now.

[59] And everybody thinks he's the sweetest guy.

[60] Doesn't matter.

[61] Doesn't matter.

[62] Doesn't matter.

[63] Doesn't matter.

[64] Doesn't matter.

[65] I also have a disability that I'm unable to work.

[66] So I'm just real fearful that I don't know.

[67] Listen, what you're doing is you have a lot of what ifs and a lot of, oh, this is and that's.

[68] And then in 10 years and in 15 years, I want you to go sit down with an attorney.

[69] Not hem -haw and don't send the post -nup to a friend of yours who happens to have a law degree.

[70] Hire a lawyer and go sit down and talk and say, I need to know what rights I have.

[71] Here's my disability.

[72] Here's my situation with my kids.

[73] I know my husband's hiding money.

[74] Here's the post -nup.

[75] And the attorney's job, because you're hiring them, is to advocate for you.

[76] And sometimes their advocate, like them being an advocate is, hey, this is the best deal I've ever seen on paper.

[77] Take it and run.

[78] Sometimes they say, we're going to dig in and we're going to burn everything to the ground because this is a terrible deal.

[79] But that's their job is to fight for you.

[80] I think they can find cryptocurrency because I know that's so shady.

[81] It's such a weird...

[82] Dude, you're stepping over $100 bills to pick up nickels right now.

[83] You're worried about the thread count on the beach towel.

[84] You're going to...

[85] wrap yourself up with if you swim to shore.

[86] Like, let's get to shore first.

[87] What about him hiding?

[88] I know he hides money with his business partners.

[89] They, like, swap hundreds of thousands of dollars and put it in each other's accounts.

[90] Like I say, I mean, what do you want me to tell you?

[91] I don't know.

[92] I think this is you starting to realize how angry and resentful you are.

[93] living this life this whole time while he hid everything.

[94] But the truth is, like John's saying, it has no bearing.

[95] You have your agreement on what it says will happen, and that's what will happen if you take the agreement.

[96] And so he may have hidden money offshore.

[97] I have no idea.

[98] But it doesn't matter.

[99] Right now, this is about you and your kids and your health and your safety.

[100] And if he's got a bunch of, a couple of business partners, and they're all laundering money and being shady and shifty, and they get a knock on the door.

[101] from a federal investigator or from forensics accountants, and they get served for all of their last seven years of financial transactions and every electronic transaction they have made, every electronic communication they've made, every email, every text, every signal, every WhatsApp, everything.

[102] And by the way, it's all discoverable.

[103] Then maybe they pucker up real quick and tell him to change his tune.

[104] But here's the thing.

[105] You won't know any of that just sitting in your house and spinning and spinning and looping and looping and looping.

[106] That's what you've been doing for a long time, right?

[107] Yeah, about five years now.

[108] Let's stop.

[109] Let's take action.

[110] Either make peace with this is my life and this is what we get and he treats me fine.

[111] I just don't know how the money works.

[112] I'm confident he doesn't treat you fine because this isn't the behavior of somebody that treats their wife fine.

[113] He thinks he's amazing to me and he does everything else nicely but that.

[114] And then when I ask him, he gets real defensive.

[115] So here's the deal.

[116] The ball is in your court and you wondering about, well, what about this?

[117] What about this?

[118] What about this?

[119] That's just a way to numb yourself from the reality that you are holding the next move you make.

[120] And if that next move is nothing, then set the ball down and just decide, I'm not going to ask questions about that.

[121] It is what it is what it is.

[122] Well, we're getting divorced.

[123] I mean, it's happening because he doesn't want to hear me complain about it anymore.

[124] Have you already filed?

[125] Or has he filed on you?

[126] No, but he's moved out, and that's just the next step.

[127] Okay.

[128] If you're going to file, then go hire an attorney.

[129] Do not get a friend who has a buddy who's got a sister who went to law school.

[130] Hire an attorney, a good one, in your community, and someone who will fight and advocate for you, and then sit down and lay it all out on the table.

[131] Right?

[132] But here's the thing.

[133] For you and for everybody listening, And I get it.

[134] It's fear.

[135] It's scary.

[136] And freeze is one of the ways our bodies try to keep us safe.

[137] I totally get it.

[138] But there comes a moment when I'm going to stop living like this.

[139] And the only way I can do it, I can't think my way out of this mess.

[140] I got to act.

[141] I got to go do.

[142] Michael Easter wrote a great article recently.

[143] Just go do something, right?

[144] And in your case, call an attorney who's ready to go to war for you.

[145] And sometimes...

[146] In war, they say, hey, we need to retreat.

[147] Let's just take what we got and let's move.

[148] That might be the right case, but you won't know until you make that call.

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[157] Welcome back to The Ramsey Show.

[158] I'm George Camel here with Dr. John Deloney, and we're going out to George in New York City.

[159] What's going on, George?

[160] How can we help?

[161] Are you with us?

[162] How's it going?

[163] Good.

[164] How are you?

[165] get your opinion on how much you should be spending on an engagement ring.

[166] I've saved up about $20 ,000 to $25 ,000.

[167] God almighty, that's too much.

[168] You think so?

[169] You must really love her, huh?

[170] Are you loaded?

[171] I make around $200 ,000 a year.

[172] I'm 29 years old.

[173] I have no doubt.

[174] Wow, way to go.

[175] All right, well, I'll tell you the general parameter, and it's, you know, my hot take is spend as little as possible.

[176] That will still make her feel loved.

[177] There's no data that shows that a nicer ring bodes for a better marriage.

[178] In fact, the data shows the opposite.

[179] But generally, at Ramsey, we would say, hey, one month's salary is plenty, which is a little bit, you've saved even more than that.

[180] So are you making, what, $15 ,000 a month?

[181] Yeah, roughly.

[182] Okay.

[183] So I'd set a budget.

[184] If that's $15 ,000, hey, you do you.

[185] You're debt -free.

[186] You can pay cash, right?

[187] We're not going into debt for this.

[188] And go, here's what I'm going to find the nicest ring I can for $15 ,000.

[189] Is she involved in the ring shopping?

[190] Yeah, I mean, she's been loosely involved.

[191] I mean, the big question is also, do I get real or lab -grown?

[192] And, you know, the reason I'm calling this or doing this call is I'm not supposed to think what others think, but I'd definitely be going against the grain with people in my circle, not getting a real diamond.

[193] That being said, you know, and I think she means that she said she's okay with a lab grown and it doesn't take a fool to put, you know, $25 ,000 in a future value calculation and see that it would be a million dollars in 40 years when we're.

[194] Sure, looking at the opportunity cost of this ring.

[195] And the other piece is, you know, you got to pay for an expensive wedding now.

[196] You buy a $25 ,000 ring, you got to have a $250 ,000 wedding to match.

[197] And now we need a million dollar home.

[198] Because now we got to keep up a certain lifestyle for the people in our circle.

[199] And you said it.

[200] I don't know why you need a pony.

[201] That sounds like what you need.

[202] But you see where we're going with this?

[203] There's a piece of this where you have to detach from what your friends think.

[204] And if your friends care that deeply about what kind of ring you got for the woman in your life, you need better friends.

[205] God, dude, I know.

[206] Yeah, totally.

[207] Where did you get this?

[208] Maybe I'm crazy.

[209] My wife would leave me if I had bought her a $25 ,000 engagement ring.

[210] Because she would have said, you are not somebody that I can trust to be a good steward of our finances moving forward.

[211] Like, tell me about $25 ,000 for an engagement ring.

[212] Where did that number come from for you guys?

[213] I mean, it's something that I've came up with.

[214] I have about $500 ,000 worth of assets.

[215] Like, it's something that I could do and still very comfortably have an emergency fund.

[216] What are your assets?

[217] About $50 ,000 in cash and cash equivalents.

[218] And then about $200 ,000 in 401k IRAs funds.

[219] And then the rest is brokerage accounts and mostly ETFs like VU.

[220] Okay.

[221] You can do what you want, brother.

[222] Are you guys planning on buying a home together one day?

[223] Yeah, absolutely, and that's obviously something that factors into this decision as well.

[224] It just seems like why have this...

[225] That's a down payment for some people.

[226] Yeah, 100%.

[227] What has the conversation been like with her?

[228] Because I feel like she may have expectations at this point based on what has been said.

[229] I mean, I've said we should seriously consider the lab -grown option, and she said...

[230] you know, basically hinted that that would be okay.

[231] I just, I think it's me internally.

[232] I obviously don't want to disappoint anyone.

[233] Yeah.

[234] What is it?

[235] I mean, I'm sorry for keep pressing.

[236] This is just new territory for me. Okay.

[237] Um, why do you feel like you're going to be a disappointment?

[238] No, no, no, no, no, no disappointment.

[239] Like I, Listen, I love her very much.

[240] I want to give her everything that she deserves, and I want her to be happy with it.

[241] I also worry about, like, diamond prices are going down significantly.

[242] Like, if I buy this thing, it's not that I'm ever going to sell it, but I would hate to buy it.

[243] And 10 years from now, it's like everyone's buying lab -grown ones anyway.

[244] Who's going to know if it's lab -grown or moissanite or made of, you know, ring pop?

[245] Who's going to know other than you two?

[246] Exactly.

[247] I'd go, hey, let's shop.

[248] What kind of rings do you like?

[249] And then we go, okay, that one's out of the budget.

[250] Because I can also imagine, again, this is just me, I would not feel comfortable carrying around a $25 ,000 appendage, a piece of jewelry that I can lose, that I can trip and fall, that I can break, that I can scratch.

[251] Like, I would feel so paranoid all the time.

[252] I would never be comfortable in my own skin.

[253] I'm assuming she doesn't have that challenge.

[254] I mean, I don't think she would, but obviously I would.

[255] I'd be freaking out.

[256] Yeah, man. Obviously, the insurance is another piece of the puzzle.

[257] Oh, geez.

[258] That's a lot.

[259] It's between you two at this point.

[260] I don't think she's a vain person who wants a $25 ,000 ring.

[261] Nothing indicates that.

[262] But I do think your friend circle has too much influence in your life and your impending marriage.

[263] And so does your Instagram feed.

[264] I just think you need to get some other perspectives and voices in your life.

[265] But bigger than that, dude, knock your lights out.

[266] You want to buy some expensive jewelry.

[267] You got the cash.

[268] I want to see your cash position improve.

[269] Because this takes half of your cash.

[270] And it's, what, 5 % of your entire net worth you're going to spend on a ring.

[271] On a ring.

[272] So I want you to have some more cash, which means pull something.

[273] But, dude, you do you, boo.

[274] Yeah, thanks for the call, George.

[275] There's no easy answer there.

[276] It's largely dependent on the couple.

[277] And, again, we're not here to tell you what you can't do with your cash, but just two knuckleheads opinions who have been married a good while now.

[278] John's going on how many years for you, John?

[279] 23, 24, something like that.

[280] A long time.

[281] Long, long time.

[282] I'm at seven, and I can tell you the ring has never come up in conversation.

[283] I can tell you.

[284] Can I tell you this?

[285] I actually brought it up recently.

[286] I told my wife, hey, the ring I bought her was when I was a school teacher, and I would like to upgrade it.

[287] That's the word the kids use.

[288] And she said, I'm going to ask you, please don't do that.

[289] Like, I don't want to deal with it.

[290] I don't want to carry around something fancy.

[291] I love this thing.

[292] It means what it means to me. And I don't, I'd rather spend our money elsewhere.

[293] And obviously I've married somebody who's practical and pragmatic, but also, yeah, it became kind of what this last call was about.

[294] I wanted to buy a new ring for me, right?

[295] I want her to look nice, whatever, but I mostly want to buy it so that I can be like, look, I got my wife an upgraded ring and this, you know what I mean?

[296] And that's a different ballgame.

[297] Yeah.

[298] I mean, personally, I would just rather spend $5 ,000 on the ring and go on a really nice honeymoon and cash flow the wedding and have some down payment money.

[299] That feels like a better...

[300] You're setting yourself up for a better marriage versus having something flashy to go, he loves me this much.

[301] That's crazy.

[302] That's a tough one.

[303] That's a tough one.

[304] This may be antiquated.

[305] I know we have some recently engaged ladies in the booth right now who may have a differing opinion, but I just think...

[306] Kelly, can you just thumbs up or thumbs down?

[307] Are we crazy?

[308] Are we crazy?

[309] Well, here's the thing.

[310] I know she's got that real diamond.

[311] She said she wanted the real thing.

[312] We're talking to the wrong lady.

[313] $20 ,000, though?

[314] Too much?

[315] No. There's a limit.

[316] There's a limit emotionally, financially.

[317] And he makes $200 ,000.

[318] But in New York City, that might be a down payment if you're lucky.

[319] And so there's a piece of me where you've got to look at the opportunity cost.

[320] And I know life is more than opportunity cost.

[321] we have very clear data that the marriage isn't better because you spent more on the ring.

[322] And so therefore I go, what's the point of the ring?

[323] What was the original?

[324] Why did we come up with this idea?

[325] Oh, that's right.

[326] It was like De Beers and Kay Jewelers decided, oh yeah, three months salary on a ring.

[327] That's what you should be spending.

[328] Well, then Jared was out in the back, like smoking a cigarette and he's like, wait, wait, wait, hold on.

[329] Hold my beer.

[330] One year of your, I don't know what Jared was doing, but.

[331] It's just gotten out of control.

[332] It's a symbol that says...

[333] I want the real blood diamond, John.

[334] I want the real thing.

[335] It's a symbol that says, now and forever.

[336] I'll be right here till death do us part.

[337] That's it.

[338] Man. It's nothing more than that.

[339] That's what it means.

[340] It's not like there's more forever if you get a bigger diamond.

[341] Right.

[342] It's just forever.

[343] Or you love me more...

[344] $25 ,000.

[345] Yikes.

[346] This is The Ramsey Show.

[347] There's a time in your life and in the baby steps for renting, but you don't want to do it forever because when you rent, you're still paying for a mortgage, just somebody else's.

[348] Plus, rent means instability in your budget because it always goes up, never down.

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[352] Churchill understands that when you buy a home the Ramsey way, your mortgage payment will be a consistent, manageable part of your monthly budget.

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[363] Welcome back to The Ramsey Show.

[364] Hey, check this out.

[365] Investing can be overwhelming and confusing, and it's not something you can get in a 60 -second social media post.

[366] If you're unsure of where to start or afraid to make a mistake, our Investing Essentials virtual event is going to teach you everything you need to know about how to get started and how to maximize your investments.

[367] Hear what we're saying.

[368] Get off the news clips that are throwing all these sound bites at you and get off TikTok and Instagram for your long -term investment strategies.

[369] Actually sit with somebody who's been investing for a long time and who was going to open up their playbook.

[370] It's happening March 4th and March 5th.

[371] Tickets start at $199.

[372] It's hosted by Dave Ramsey and George Camel.

[373] $199.

[374] Sounds like a lot.

[375] If you end up making a few tweaks and you end up with millions of dollars over the next 10, 15, 20, 30 years, there will be a drop in the bucket money well spent.

[376] It's also the only place that Dave's going to get personal with his playbook on real estate investing, explaining how he's made hundreds of millions of dollars in property investments.

[377] And by the way, this isn't one of those scams where you leverage this and you flip the tax and slap it up, flip it and reverse it.

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[382] You can invest with confidence and start building wealth.

[383] Get your tickets today at ramsysolutions .com slash events or click the link in the show notes if you're listening on podcast or watching on the tubes.

[384] Well said.

[385] I'm pumped for this.

[386] I'm lucky I get to just hang out next to Dave as he does this.

[387] So I would pay good money.

[388] Imagine that, five hours with Dave over two nights, would you pay him $199?

[389] to sit with Dave and ask him all of your investing questions.

[390] And that's the cool part.

[391] You can actually submit your questions if you're part of the event, email them in.

[392] We'll take them as they come in live.

[393] And it's going to be a really good time.

[394] Dave's going to unpack it with formulas and how he analyzes every investment with real examples from his portfolio.

[395] Well, and he doesn't like it when I say it like this, but he's the reverse of almost anyone I've ever met.

[396] And that is...

[397] The only other people I've ever met like him are kind of like professional fighters who are super gentle and kind because they can beat up everybody.

[398] And so they're so kind.

[399] They have nothing to prove.

[400] And so when you meet them and you're like, oh, you're a fighter.

[401] Like, oh, no, no, no, no, no. They're very dismissive like that.

[402] Dave is like that on the radio.

[403] He's like, oh, shucks, right?

[404] He's goodwill hunting.

[405] He's a math savant who pulls these things together and has formulas and equations.

[406] It's when he started doing quadratic algebra, and he's like, all right, we're going to go into the board.

[407] I was like, you lost me, brother.

[408] But there's a method to this madness, and it's not just an angry guy popping off.

[409] It's a guy who's done the math, and more importantly, he's lost it all, and even more importantly, he's actually done the work to...

[410] own hundreds of millions of dollars of real estate.

[411] He owns it outright.

[412] He's not leveraged up to his eyeballs like most people in his situation are.

[413] And he's able to teach, here's why I'm doing what I'm doing.

[414] And most people are like, oh yeah, but what?

[415] All right, here you go.

[416] Bluff called.

[417] Here's all the math.

[418] Here's my portfolio.

[419] Here's how and why I do this.

[420] Here's my ratios.

[421] And it's $199.

[422] It's a ticket to the mind behind the madness.

[423] Well said.

[424] RamseySolutions .com slash events.

[425] Don't miss Investing Essentials.

[426] It's happening next week.

[427] All right, Maria's in Orlando up next.

[428] Maria!

[429] You're welcome.

[430] That singing is free.

[431] What's up, Maria?

[432] Hi, guys.

[433] So I just have a quick question.

[434] I am on Baby Step 2, and as of yesterday, I've paid off seven out of my nine credit cards.

[435] Way to go!

[436] Yes, thank you.

[437] I'm so excited.

[438] $25 ,000 to $26 ,000 that I've already paid off.

[439] Congratulations.

[440] And thank you.

[441] And my question is, when I first started, and this was probably about five months ago, I put them in a drawer in the very, very back in a box to not see them because I was scared of cutting them up.

[442] But now I'm like, okay, they're paid off.

[443] Do I just cut them off and let the banks close them?

[444] Because two of them that I paid off within like the first month, I had not used them.

[445] I just had a balance.

[446] They showed up as closed about three days ago, and I didn't even notice that they were closed.

[447] My plan was to cut them up and call the banks and be like, hey, close my account, or do I just cut them up?

[448] Cut them up right now.

[449] Do you have them on you?

[450] I don't.

[451] I'm on my way home.

[452] I'm going to be there like 15 minutes.

[453] Can you promise America that you're going to cut them up and that you're going to DM me a photo of the cut -up cards?

[454] as soon as you do it?

[455] I will.

[456] Okay.

[457] Yes, I promise.

[458] We have proof now that you said you would and you're a woman of your word.

[459] So yes, cut up the cards.

[460] It has no bearing on the account.

[461] It's just you burning the ships physically saying, I'm done.

[462] I'm done letting my life be run by lenders and the sick games they play to get me into the points and rotating cash back with 25 % APR.

[463] You're done with that.

[464] You're too smart and successful to deal with credit cards.

[465] Yes, I definitely agree.

[466] So do I still call the bank and tell them to close the account?

[467] Yes.

[468] Close all of the accounts.

[469] Okay.

[470] And listen, everybody's going to tell you about this.

[471] Your credit score is going to crash.

[472] It's going to go to zero.

[473] Oh my gosh, do you know what we're saying?

[474] It's all coming down.

[475] Yes.

[476] They're all going to tell you that.

[477] You want to have a fun game?

[478] It's called Guess George's Credit Score.

[479] Ready, go.

[480] Ooh, this is fun.

[481] Is it zero?

[482] Yes.

[483] As close to zero as you can get.

[484] It's just indeterminable.

[485] Yeah.

[486] So it's not that I have a bad score.

[487] It just doesn't exist.

[488] I disappeared in the eyes of the credit bureaus because I paid off everything, closed all the accounts, including the mortgage.

[489] And so when you do that, you'll have no score.

[490] And what you'll find is everyone made up some crazy story about how hard life would be without a credit card and how dangerous you are for using your own money through a debit card and how you'll never be able to rent a car again and buy an airline ticket in a hotel.

[491] And then I just did it and I went, oh.

[492] They didn't even batten.

[493] I was hoping to put up more of a fight at the counter, and they just went, oh, yeah, yeah, debit card's fine.

[494] That works.

[495] We'll take your money.

[496] Okay.

[497] All right.

[498] Well, I will be getting home in 15 minutes and taking care of business, and I will DM y 'all the pictures.

[499] Perfect.

[500] Can't wait to see it.

[501] Taking care of business.

[502] Way to go, Maria.

[503] I feel like we got one win in today, John.

[504] That's good.

[505] I feel great.

[506] I needed that.

[507] All right.

[508] Let's go out to Brian, see if we can help him in Syracuse, New York.

[509] What's going on, Brian?

[510] Hey guys, thanks for your time today.

[511] So my question is about selecting a smart investor pro.

[512] So I went on your website recently and had quite the candidate pool reach out to me. So I know they should have the heart of a teacher, that their values should align to my values and goals.

[513] I know the four buckets I should be investing in, but outside of that, what qualifying questions should I be asking and what does that conversation look like?

[514] Great questions here.

[515] So you're in baby set four.

[516] Yeah, four, five, and six.

[517] Yep.

[518] And for some more background, I've been contributing to a 401k for well over a decade, but now it's time for a 529.

[519] And when I went to set it up, it wasn't as clear as those four buckets, you know, the growth, growth, and income, aggressive growth, international.

[520] So that's where I was like, you know what, maybe I'm a little over my head, or maybe it's time to pay someone to help me manage these because I'm a bit of a tightwad, but if they can help me and it makes life a little easier, that's kind of...

[521] where i want to go next absolutely well you're you're asking great questions i'm proud of you for where you're at and uh reaching out to a pro knowing hey i i want to know that i'm doing the right thing instead of just hoping and guessing and a good financial advisor will actually teach you and help you understand and leave the ball in your court to make the decisions and they are truly there as the guide you're the hero when it comes to your investing journey and so ask them hey how do you operate what's your investing philosophy what kind of services do you offer Beyond just helping me choose a few funds, what is this relationship going to be like?

[522] How are we going to communicate?

[523] How often?

[524] How do you get paid?

[525] That's an important one to know.

[526] Can I ask you another weird question?

[527] Do I want to hang out with you?

[528] Do I want to call you?

[529] Do we vibe?

[530] Do we have some chemistry here?

[531] That's an important part of it.

[532] If you don't like them, don't worry about them.

[533] Like my Smart Bester Pro, he was a close friend of mine before.

[534] In fact, I didn't even know he was in the program.

[535] I didn't know he was a part of it.

[536] But he knows me well enough.

[537] We make jokes.

[538] He'll send me an email or a text message and say, hey, you're about to get an email.

[539] Just don't open it because he knows that I overreact and I panic and I get all like, ah.

[540] But that's a level of, I want that guy to be, I don't know if it would be my friend.

[541] I want to keep it a professional relationship, but is it somebody that I like and somebody that, I innately trust, right?

[542] I think that's just really important.

[543] They're taking care of an important part of your family's future.

[544] That's it.

[545] It's part art, part science.

[546] Do we vibe and do I understand everything laid out here in the relationship?

[547] There you go.

[548] I love it.

[549] Is there anything that I should avoid?

[550] I mean, you want to avoid anyone who's selling you crappy products.

[551] And so if you jump onto RamseySolutions .com and click on Trusted Pros, I guarantee you they're not going to be pitching you on whole life and annuities for a young guy.

[552] And so that's one thing to look out for.

[553] Are they really just an insurance salesman, a wolf in sheep's clothing, or are they actually a financial advisor who's licensed to sell me investments, who has my best interest at heart?

[554] That's the key, man. Great questions.

[555] RamseySolutions .com.

[556] Click on Trusted Pros.

[557] This is The Ramsey Show.

[558] As an investor and a person of faith, when your mutual funds and ETFs put your money into the dark side, you might feel a disturbance.

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[568] Welcome back to The Ramsey Show.

[569] Our question of the day is brought to you by Why Refi.

[570] When the payment on your defaulted private student loan is as much as some mortgages, it's hard to get ahead.

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[573] That's the letter Y, R -E -F -Y dot com slash ramsey.

[574] May not be available in all states.

[575] Our question comes from Lucia in New Jersey.

[576] What is the question, John?

[577] Sorry, man. It's okay.

[578] I was distracted there for a second.

[579] It was a soft toss.

[580] Yeah, it felt like you threw it pretty hard.

[581] The Ramsey Show question of the day.

[582] Here we go.

[583] Brought to you from Lucia in New Jersey.

[584] My sister's going through a divorce and has to refinance her home to remove her ex -husband from the mortgage.

[585] She asked if I would add her as an authorized user on my credit card, but not to give her a card so she won't be able to use it.

[586] She says it would just help her.

[587] credit score so that she can get a better rate when she refinances.

[588] I've never done this, so I'm not sure if it will affect my credit score, which is in the 800s.

[589] Do you see any red flags with this plan?

[590] Too many to count.

[591] All I see is all red flags.

[592] No, I would not add her.

[593] This is not going to be a blessing to either of you.

[594] I hate that she's going through this.

[595] It's going to be tough, but here's the good news.

[596] As her credit score improves, as she makes...

[597] mortgage payments and stays out of debt and stays on time with all of her payments.

[598] Her credit score will naturally improve and she can refinance to a better rate down the road.

[599] But I would not add her as an authorized user.

[600] Her credit history will become part of your credit history and affect both of you.

[601] And if you make any poor decisions, God forbid, then that will also affect her negatively.

[602] And so I would say, listen, I love you a lot.

[603] I cannot bring you into my financial world and tether you to it.

[604] There's risk for both of us and I'm not comfortable doing that.

[605] And let me just put this out there.

[606] I know it's one of those things where you say something like this and those who don't need to hear it take it to heart and those who do need to hear it won't hear you anyway.

[607] If you need help financially from a friend, say I need some money.

[608] That's the cleanest, clearest way to say I need some help.

[609] But asking them to co -sign to...

[610] Here, we'd be an authorized user on a credit card, but you keep the card.

[611] Now you're asking me to be your babysitter, to be your mom, to also be your financial advisor.

[612] And when you need a card and I won't give it to you, then I get to be your punching bag.

[613] You are choosing to disrupt the friendship and kind of blow it up.

[614] I'd rather a friend come to me and say, hey, I'm in a pickle.

[615] I need X amount of dollars than to come up with some scheme as to, this is how it can work and won't affect you, but it'll help me. It just causes problems down the road.

[616] Yeah.

[617] And the other part of this is you might actually be hurting her by artificially propping her up and keeping her in this house that she really can't afford.

[618] That's right.

[619] The answer might be she needs to sell the house because it's too much for her to take on on her own.

[620] And that's not a fun thing to do, but it might be the truth she needs to hear.

[621] And so you can be a support for her without attaching her to your financial world and dragging each other down.

[622] Great question, though.

[623] Cherokee's up next in Vegas.

[624] What's going on, Cherokee?

[625] Hi.

[626] Hello.

[627] How are you doing?

[628] We're doing well.

[629] How can we help?

[630] So I have a quick question.

[631] Before I dig myself into a deep hole, my boyfriend was diagnosed with brain cancer.

[632] So sorry.

[633] So he's going, thank you.

[634] So he's going through radiation and chemo therapy right now.

[635] So I'm the one that's really bringing in money right now.

[636] And he was surviving off of unemployment for a while whenever he went into surgery.

[637] That stopped around December, January, into December, early January.

[638] But now I'm getting a little behind on bills.

[639] I'm behind on my car payment.

[640] I'm kind of struggling to get another job because I work 830 to 530.

[641] And most people want me to work about two to three days, but at least a day during the week.

[642] And I'm really struggling to find hours that are overnight.

[643] So I was wondering if you guys had any insight on something I can do.

[644] This is going to be me being really callous, okay?

[645] Okay.

[646] You've got to take care of yourself.

[647] Yeah.

[648] And you have to make sure your four walls, your bills, your heat, your water, your transportation, clothes on your back, you've got to make sure those things are steady before you have any business jumping in and helping somebody else.

[649] And I know that's hard to hear.

[650] I'm concerned on multiple levels.

[651] When he got sick, did he not have a job?

[652] Did he have health insurance or anything like that?

[653] And that's not a judgment question.

[654] I know there's millions of Americans stuck there.

[655] He did have a job.

[656] He was going to work.

[657] Everything was fine.

[658] And then right whenever he got the news, he tried to go about it in a holistic way.

[659] But it just didn't work out.

[660] So he had to go through with the surgery.

[661] They kind of just dropped the chemo and radiation on him because he's been through this before, but he didn't have to go through that.

[662] But since he's older, that's the route that they decided to take.

[663] But who's paying for this?

[664] Is he insured?

[665] Yes, he is insured under his mom's insurance.

[666] Under his mom's insurance?

[667] How old is he?

[668] Yeah.

[669] He's 26.

[670] So he's insured until he turns 27, right?

[671] Well, they did drop him from the insurance, but his mom works with a private business owner, so they were able to get him back on there.

[672] So her boss has him on there because they know the situation that's going on.

[673] Who else is in his community right now other than you?

[674] Does he have family around?

[675] Yeah, he has his mom and dad are still together.

[676] Because you can't be his full -time caretaker through this.

[677] And his full -time funder.

[678] You have, here's the thing.

[679] You have no, this is going to sound awful.

[680] Okay.

[681] I'm just being as direct as I can because I love you.

[682] You have no, you're dumping money into this situation with like, you don't know the medical history.

[683] All you know is what he tells you.

[684] You don't know where this thing heads.

[685] I'd much rather see his family circle up and support him and love him through this.

[686] And you be the person that you can't, the girlfriend, the one who loves him, the one who's emotional support.

[687] Exactly.

[688] Financial.

[689] But you are playing all the parts of his life, and that's a tough, tough thing for you, and you can't even pay your own bills.

[690] Yeah, it is getting pretty tough.

[691] So that was my next kind of what I was thinking along the lines of because his disability does come in in April, so that will help a lot.

[692] But our release is up in July, and I'm trying to figure out what my next step should be because apartment is too much.

[693] and I feel like I make an okay amount, and I'm trying to figure out, I don't know what my next question is.

[694] I think he needs to move back home and get some care from the family, and you go out on your own.

[695] It's just too big for one person who's got to work one to two jobs just to pay the rent on their apartment.

[696] And he can't split bills with you right now.

[697] He's not in a place to do that.

[698] Yeah.

[699] And so you've got two people who are leading from a place of weakness and you can't carry the weight for him.

[700] Yeah, he doesn't need to feel bad.

[701] He's got brain cancer.

[702] He needs to go get well.

[703] Yeah.

[704] And I get that's easy for me to say.

[705] Of course he's going to feel bad.

[706] Any self -respecting romantic partner would feel bad.

[707] But, like, he needs to heal.

[708] Yeah.

[709] And that's what I told him.

[710] And I think that's why we're kind of like...

[711] And we don't really know what to do.

[712] His parents have been hoping, but it's kind of been a strain on everybody since we're in a separate house from his parents.

[713] You're going to be no help when you get evicted and your car gets repossessed and you can't even go to work.

[714] You're going to create even more problems if you continue this.

[715] Yeah.

[716] So you need to make sure that you're well, and he needs to focus on him and get his family involved, and you can be a supportive girlfriend on the sidelines, but I would not intermingle our finances at all.

[717] What's his medical prognosis?

[718] He has an astral glaucoma, I believe.

[719] There's another similar name that he had four years ago.

[720] He had another one four years ago, but I think the one that he has now is an astral glaucoma.

[721] What's the prognosis?

[722] Yeah, that's a whole different kind of...

[723] How's it looking?

[724] Cancer.

[725] The doctor said anything?

[726] Oh, they said that he's doing really good.

[727] you know, with the radiation.

[728] It's starting to get to him, but he's almost gone, but he will be on chemo.

[729] But everything is looking up so far.

[730] Okay, that's good news.

[731] Yeah, listen, I honor you for loving him and trying to take care of him.

[732] I love that, love that.

[733] But man, if you go underwater, everybody drowns.

[734] So he needs to go back home with his family.

[735] He's not your husband.

[736] He needs to go back home with his family and get back on his feet there.

[737] And y 'all can decide what the long -term relationship is going to be between you two moving forward.

[738] You shouldn't own a gun.

[739] You're not willing to shoot.

[740] In moments of self -defense, a Burna launcher lets you protect yourself in a non -lethal way.

[741] That's exactly why Burna launchers were created.

[742] Everyone, from parents and nurses to pastors and even Special Forces veterans, rely on Burna to protect themselves and their families.

[743] I own several Burnas myself.

[744] They look like guns.

[745] But they're not.

[746] They shoot a .68 caliber round kinetic or chemical irritant projectile that can disable a threat from up to 60 feet away.

[747] And they're powered by compressed CO2 cartridges, so they're classified with paintball and airsoft guns.

[748] But they're more powerful than those.

[749] for increased protection.

[750] Not to mention, Burna launchers are legal in all 50 states with no permits required.

[751] And because they're not firearms, they can be shipped directly to your door.

[752] Plus, Ramsey fans can get 10 % off an exclusive bundle, which includes a Burna pistol, CO2 cartridges, and ammo.

[753] And other Burna products like safety alarms, defense sprays, and body armor are also 10 % off.

[754] For our listeners, just go to Burna .com slash Dave to learn more.

[755] That's B -Y -R -N -A dot com slash Dave.

[756] From Ramsey Network, this is The Ramsey Show, where we help people build wealth, do work that they love, and create amazing relationships.

[757] I'm George Camel, here with Dr. John Deloney, host of The Dr. John Deloney Show, and we're taking your calls at 888 -825 -5225.

[758] Peyton will kick us off this hour in Atlanta, Georgia.

[759] How can we help, Peyton?

[760] Hey, good to talk to you guys.

[761] How's it going?

[762] Great.

[763] How are you?

[764] Good, good.

[765] So a little bit of background here.

[766] So I'm 27, and over the last few years, I've begun to come into an inheritance at the same time that my birth family has resurfaced.

[767] It's become a little bit tricky as a result there, just because I always knew I was dealt an amazing hand, but kind of seeing...

[768] You know, what could have been has been pretty emotionally jarring.

[769] So I'm wondering, you know, number one, you know, what's the responsible way to handle this?

[770] Because I don't think doing nothing is an option.

[771] But at the same time, I want to make sure that I kind of do justice to my grandfather and my parents who have kind of changed my life and my family's life, putting me in this situation.

[772] So tell me a little bit more.

[773] When you say your birth family, are you adopted?

[774] Yeah.

[775] Okay.

[776] And so your adoptive grandfather.

[777] He's the one who's leaving you the inheritance?

[778] So I was adopted at birth to a family.

[779] So there do I consider, you know, my family because I grew up with them.

[780] So that side of the family is where the inheritance is coming from.

[781] Birth family is, you know, found out I was the oldest of a sister who's 19 and pregnant and two other male siblings and then my birth mom, of course.

[782] Gotcha.

[783] And how much money are we talking here?

[784] Uh, so my grandpa was smart, so he stepped it in around like, you know, metrics like graduation date and, you know, age and a couple of things.

[785] So it's, it's up to 750 ,000 now.

[786] Um, it'll likely cross over, over a million in the next few years.

[787] So it's pretty significant.

[788] Um, tell me why you feel or where the feelings are coming from that you have some sort of allegiance or you owe, or you need to put some money on the table for your, your birth siblings.

[789] I think it's, you know, that old adage, right, you know, to whom much is given, much is expected.

[790] Yeah, that's not, that adage doesn't apply here at all.

[791] Not even close.

[792] That's what a guilty person tells themselves.

[793] Yeah.

[794] Why do you feel guilty?

[795] I mean, I think especially, you know, being the oldest sibling, you know, and kind of seeing, I think my sister, you know, probably has the, you know, the drive to kind of get her life on track.

[796] So it's, you know, wanting to support, you know, I saw my, My parents and my grandfather do, you know, good things with kind of the situation that they created and put themselves in.

[797] So, you know, I'm kind of navigating, you know, I know I could make a difference, you know, and, you know, it wouldn't necessarily change my day to day.

[798] So it just hasn't seemed reasonable at this point to do nothing.

[799] But then there's also been some stuff initially that I tried to give that didn't necessarily go where I wanted it to in terms of my mom kind of repurposed.

[800] birth mom kind of repurposing some of that in a way that was less than ideal and it didn't actually get to my sister.

[801] Well, that's the thing is you have no control of this money once it's given.

[802] Zero.

[803] And bro, you are setting yourself up for a catastrophic world of hurt.

[804] I 1000 % agree with you.

[805] I'm just trying to put myself in your shoes.

[806] If I found out I had a whole other family and I got adopted, by a family who was so great and they took me in and they, like you said, like I had an amazing life and I won the lottery and my other brothers and sisters were adopted out and they did not get the shake that I got.

[807] I would feel a sense of I owe or obligation.

[808] And I need you to hear me say, you don't owe anybody anything.

[809] You can choose to give.

[810] And those are two very different.

[811] motivations.

[812] If you think you owe, you are constantly going to be, it's a bottomless pit.

[813] It's a hole that can never be filled.

[814] If you say, hey, I won the lottery with my adoptive family.

[815] I got such amazing life and I want to do that for other people.

[816] Then that's when you can sit down with your sister and very similar to how your grandpa did it, who's very wise.

[817] Hey, sister, when you're ready, I'm going to pay for college tuition, but I'm going to pay directly to the school.

[818] When you're ready, I will cover three years of daycare for your kids so you can get ahead financially, but I'm going to pay directly.

[819] I'm not going to give that money to anybody.

[820] You can love them deeply and support them and also recognize that they're terrible money managers.

[821] All three of those things can be true at the same time.

[822] Yeah.

[823] Here's what I don't want you to do.

[824] I don't want you to give your mom $25 ,000 when she doesn't have the skills to handle $25 ,000 because then you're going to end up resenting her and that's not fair to her.

[825] You get what I'm saying?

[826] Yeah.

[827] I hadn't thought of it that way, but that does make a lot of sense.

[828] You'll hand her a live snake, she'll get bit, and then you gave her the snake.

[829] I wouldn't do that.

[830] And you're going to have to weather.

[831] people coming out of the woodwork for your money.

[832] You're about to be Bank of Peyton once they find out that you're just giving away money like a game show, and they're going to be coming back.

[833] And Peyton will bail us out, and how dare you?

[834] And, oh, you got this.

[835] You did it last time.

[836] Why not now?

[837] Why are you so stingy now?

[838] I can't believe you don't even remember your raising.

[839] You don't even remember where you came from, right?

[840] They're not your real family.

[841] You're going to hear all that stuff, dude.

[842] Yeah.

[843] Have they asked for money or is this just your own survivor's guilt talking?

[844] So that's the thing.

[845] My mom, when she was, before I found out she was doing things I didn't want with it, she would make up excuses.

[846] But my sister has always pushed it away.

[847] You know, she's on her own.

[848] She's got, you know, a newborn, obviously very young.

[849] And that's kind of where, you know, that almost makes you want to give more, right?

[850] Because she has a similar thing of like, you know, you don't owe me anything.

[851] I just want to have.

[852] you know, the relationship.

[853] Is she a single mom?

[854] Yeah.

[855] And what needs does she have right now that you feel like you could help with?

[856] Uh, the kid has special needs.

[857] So I know that that's, uh, like they're, they're below poverty line.

[858] So it's, it's a, it's such a stark contract.

[859] So is that, is that childcare?

[860] What would you exactly help with versus just writing a check?

[861] That's what I was thinking.

[862] A grocery gift card.

[863] What would you, what would you want to do?

[864] I think child care would be the most impactful thing because it would free her up to kind of take the steps necessary to stabilize her life, whether that be education or...

[865] Can she do that living in your birth mom's home?

[866] So they live in a different state than I do currently.

[867] No, no, no. But can your sister thrive under your mom's roof?

[868] Oh, no. They have a very toxic relationship.

[869] So maybe offering an apartment like...

[870] down the street from, I don't know how much money you want to put on the table here.

[871] I don't know what you do for a living.

[872] I'd want you to make sure you invest this thing so you're taking care of yourself and your future family long term.

[873] But I'm with George.

[874] I think you, if you throw a checkbook at a problem, often everybody loses, right?

[875] It becomes full of waste and it becomes full of, well, what about this?

[876] And I feel like this, when you spend money to solve a particular problem, you get different kind of results.

[877] Yeah.

[878] I will pay for you to move and I will pay for one year of an apartment right down the street from me and that's going to cost $25 ,000.

[879] I'll put that on the table if you want to get out of mom's house.

[880] Now we're talking.

[881] Right?

[882] Yeah.

[883] And that's a finite cost and she doesn't have to feel guilty for just being on the take forever but it's an actual problem being solved right now.

[884] Yeah.

[885] The more specific you get, the better.

[886] And you can remain in control if you do what John said and go, I'm going to give directly to the need versus just throwing a check at it.

[887] But you're a noble guy.

[888] And I got nothing but respect for you, man. Good luck for your decision.

[889] But you don't owe anybody anything.

[890] You get to give.

[891] And that's a totally different spirit.

[892] You know, one of the first things I discovered working in the financial world is how absolutely devastating it is when the breadwinner of a family dies and there's too little life insurance or none at all.

[893] Grieving families are suddenly left behind scrambling to pay bills and trying to make ends meet.

[894] I also discovered that there are a lot of ripoffs in the life insurance world, like that whole life crap posing as an investment opportunity.

[895] What you need is level term life insurance, usually 10 to 12 times your income.

[896] which is the smartest, most affordable way to protect your family.

[897] The key is finding an independent broker who represents a ton of companies and works for you, not for the insurance company.

[898] This is exactly what my friend Jeff Zander and his team at Zander Insurance are all about.

[899] They shop the term life companies to find you the best options, and they've been around for over 95 years.

[900] So you know they'll be there when you need them.

[901] Zander is the real deal.

[902] and that's why they've handled all my personal insurance for over 25 years.

[903] I trust them, and you can too.

[904] Visit Xander .com for instant online quotes, or for a more personal touch, give them a call at 800 -356 -4282.

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[907] That's why I want you...

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[913] To reserve your copy, go to RamseySolutions .com slash store.

[914] RamseySolutions .com slash store.

[915] Welcome back to the Ramsey Show.

[916] Do not miss the upcoming Money and Relationships Tour.

[917] It's Dave Ramsey and Dr. John Deloney like you have never seen them before.

[918] Go on the road, baby.

[919] Hey, we're bringing the Ramsey show and the Dr. John Deloney show.

[920] We're crashing them together and we're bringing them live.

[921] Unfiltered, unscripted, and packed with wisdom and laughter.

[922] All the stuff you think.

[923] I wonder if they edit that out.

[924] The answer is yes, and that's going to be live.

[925] And that also makes me nervous because there's lots of phones out there.

[926] In the audience, they choose the content of the night before the event.

[927] Yeah, we're talking, we might do live, we might do Q &As, we might do all kinds of stuff, but yeah, there's going to be audience participation into how this thing goes.

[928] And so it's going to be a blast.

[929] It's just as off the rails as our shows can get sometimes.

[930] That's going to be the live event with us bringing the Ramsey Show and my show live.

[931] They're headed to a town near you.

[932] Louisville on April 21st.

[933] Durham, April 23rd.

[934] Atlanta, April 25th.

[935] Phoenix on May 5th.

[936] Fort Worth, May 7th.

[937] And Kansas City on May 9th.

[938] Get your tickets.

[939] RamseySolutions .com slash tour.

[940] And if you're tuning in on YouTube or podcast, just click the link in the show notes.

[941] Be sure to say hi.

[942] I wish I could go.

[943] They don't invite me. I'd love to drive out to Atlanta.

[944] Maybe me and Rachel will crash in Atlanta.

[945] That would be a blast.

[946] Just show up.

[947] That would be actually fun.

[948] All right, Skylar is in Fort Worth up next.

[949] What's going on, Skylar?

[950] Hey, how are you guys?

[951] Doing great.

[952] How can we help?

[953] So back in college, I had made some poor choices, ended up moving in with my parents and starting over as a single mom.

[954] Well, recently we moved to Texas from California, and my parents, now that I'm in a better financial situation, My parents want me to put a mother -in -law suite in the back of their property, and I thought it was a good idea at first until I found you guys.

[955] I'm only in baby step two, and I am having a hard time trying to communicate to my parents that I don't want to go into more debt.

[956] So they want you to pay for the building of this in -law suite so that you can live in it?

[957] Yes.

[958] What's it going to cost?

[959] So we've looked at different things.

[960] We were going to go with a container home style, which would be at the end of it, like 170.

[961] We live out in the countryside, so we'd have to get septic.

[962] I'd have to get the power line pole.

[963] Why don't you just leave?

[964] Can't you just go live on your own and rent an apartment somewhere?

[965] I ended up getting an apartment.

[966] I can't move in until March 19th.

[967] I don't know.

[968] I'm scared to tell my parents because they think I'm going to put the house on the back.

[969] And they want to make a plan to get me to get $20 ,000 because my dad's initial plan was to have me take out a personal loan for $20 ,000, not touch it for a year, then use that to put down for the house and then have the house overestimated $20 ,000 to pay off the...

[970] So are they using you as part of their financial schemes?

[971] Sounds like it, yeah.

[972] Okay, you just need to go.

[973] I don't understand.

[974] I mean...

[975] You need to say, hey, mom, dad, it's been great.

[976] Thank you so much for letting me crash.

[977] Me and baby are going to go get our own place.

[978] You said you're in a better place financially.

[979] Can you afford to rent your own place?

[980] Yeah, so the apartment I did find, I can't afford it.

[981] I can't afford the apartment.

[982] I just can't afford child care.

[983] They helped me with child care, and this was a way to...

[984] That's what I was wondering.

[985] Are they watching baby all day?

[986] Yeah.

[987] Yeah, so he's five now, so he goes to...

[988] school, but they watch them in the morning because I leave at 5 .30 in the morning.

[989] Sometimes, depending on how the volume is, because I work for, I deliver mail, I sometimes don't get home until like 8 o 'clock.

[990] Are they going to cut you off because of this, Skylar?

[991] I have no idea.

[992] Okay.

[993] And I'm terrified because I made some really bad choices and I'm so scared.

[994] Yeah, and I don't want to kick you while you're down, but it wasn't smart to sign a lease.

[995] Have you already signed a lease?

[996] No, I did not sign the list.

[997] Oh, you didn't?

[998] Okay, thank God.

[999] All right.

[1000] The earlier you learn this, the better off your life is going to be.

[1001] That doesn't mean your life's going to be easy and conflict -free, but that means you're going to have this elusive thing that everybody wants and nobody has.

[1002] It's called peace, okay?

[1003] The only way through these challenging conversations, these hard moments, is right through the middle of it.

[1004] Okay.

[1005] Most of the time...

[1006] How old are you?

[1007] I'm 28.

[1008] 28?

[1009] Okay.

[1010] Most of the time, if this is your first time to actually, I don't want to say stand up, but actually say, hey, I don't want to do that.

[1011] And by the way, you get a pass.

[1012] You can say, I can't afford to do this and I'm not going to do this.

[1013] I'm not taking on any more debt.

[1014] It's not a matter of you're a millionaire and you have to say, hey, I don't want to do this.

[1015] But I would recommend writing down what you want to say.

[1016] And then having an in -person meeting with your mom and your dad and read it to them.

[1017] Okay.

[1018] And I want you to stop leading conversations.

[1019] The first introduction to me and George was, I made some mistakes when I was a kid.

[1020] You've got to stop leading with that.

[1021] You're more than that, okay?

[1022] Mm -hmm.

[1023] Do you believe me?

[1024] Yeah.

[1025] Okay, you're more than some college mistakes.

[1026] We all made them, right?

[1027] And tell me about this little one you have.

[1028] Well, he's five.

[1029] Is he amazing?

[1030] he's like the best he is uh like a carbon copy of me i swear well god help everybody just kidding okay so can we stop calling him a mistake yeah wouldn't have drawn it up that way and you've been through hell and back 18 to 19 to 20 to however old you are right now but dude you got a rad little five -year -old okay Let's stop leading with there's something wrong with me and let's lead with, hey, mom and dad, I don't want to go into debt and put on an apartment on the back of your house.

[1031] I'm so grateful for your hospitality.

[1032] If that's the only option, then I'm out.

[1033] Yeah.

[1034] Have they always been there for you?

[1035] Yeah.

[1036] Okay.

[1037] Then I think that's what you lead with.

[1038] You guys have always been there for me and I have to.

[1039] I have to stand up on my own, but I still can't do it fully without you.

[1040] I still need help.

[1041] And if you all choose to not have childcare, I'll figure something out.

[1042] Just know I have to stand out on my own.

[1043] Okay.

[1044] Okay?

[1045] And you've got to go through the middle.

[1046] There's no hack to that, okay?

[1047] There's not like a secret.

[1048] What are you making delivering mail?

[1049] My salary is $65 ,739.

[1050] $65 ,000 a year?

[1051] Yes.

[1052] Good.

[1053] And you said your hours, they range from 530 in the morning to 8 at night?

[1054] Depending, yeah.

[1055] So I have to leave the house at 530 because we leave about 20 minutes away.

[1056] My start time is at...

[1057] 6 .15.

[1058] So do you even see your son?

[1059] For like a few hours at the end of the day if I get done in time, because most of the time I'm usually done about 4 o 'clock.

[1060] But when the days are really heavy, I don't get done until like close to 8.

[1061] I'm wondering, what does child care cost around you if you were to put them in daycare?

[1062] I would have to get a nanny because there is no daycare.

[1063] Okay.

[1064] But soon, this is a temporary problem.

[1065] Soon he'll be old enough.

[1066] He'll be in school.

[1067] This will all be behind us, right?

[1068] Yeah.

[1069] Okay.

[1070] Well, just know this is not forever.

[1071] This is a season, and it's going to be hard, and it's going to be uncomfortable, but you're going to be on the other side, more mature, more independent, standing on your own two feet.

[1072] Do you still want to stay living with your parents if they didn't have this backyard idea?

[1073] Yeah, I would have.

[1074] Okay.

[1075] It's just, it's something that I can remember, especially my dad talking about wanting since I was little.

[1076] So this is kind of his way to get that.

[1077] Because here's the thing.

[1078] Sometimes, and again, I'm overly sentimental.

[1079] Sometimes our parents are doing the best they can to love us.

[1080] And they'll come up with all kinds of crazy schemes to try to keep us safe.

[1081] And sometimes when we struggle and stumble and fall, when we're 18 or 21 or 23, they look in the mirror and they blame themselves.

[1082] And so you know your dad more than I do.

[1083] And it's easy for me to sit over here and say, maybe he thinks this is the best way out.

[1084] And the greatest gift you could give him is to say, no, no, no, no, no. I'm going to get my own place.

[1085] I'm going to start branching out.

[1086] And I still love you.

[1087] I still need your help.

[1088] I still want your influence on my kid's life, but I'm not going to do this.

[1089] I'm not going to borrow any more money.

[1090] I'm tired of being in a hole.

[1091] And if he honors that, cool.

[1092] If he says, then how dare you, whatever.

[1093] then you've got your very clear message that it's time to go.

[1094] And maybe rural, you know, wherever you happen to be, rural central Texas isn't the place to be.

[1095] And it's easy to talk yourself into a trap that I'll never make more money than this.

[1096] It's all I've got.

[1097] It's all I'm worth.

[1098] And that's not true.

[1099] None of those things are true.

[1100] Okay.

[1101] Hey, you're not the silliest, dumbest mistakes you've ever made.

[1102] You're way, way more than that.

[1103] Okay.

[1104] Okay.

[1105] Thank you.

[1106] Appreciate your call.

[1107] Can we send her something, John?

[1108] Yeah.

[1109] Let's send her one of your books.

[1110] Everything.

[1111] Building an Unanxious Life, FPU, Every Dollar.

[1112] Kit and Caboodle.

[1113] I think that's a good start.

[1114] And she'll let us know if she needs anything else.

[1115] We're here for you, Skylar.

[1116] We got you, Skylar.

[1117] Hang on the line.

[1118] We'll pick up and get you those resources.

[1119] This is The Ramsey Show.

[1120] Have you gotten one of those texts recently claiming to be the USPS with some sketchy link to update your address?

[1121] It's annoying and a little terrifying.

[1122] And you probably think to yourself, I should do something about this.

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[1138] Okay, picture this.

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[1143] That's RamseySolutions .com slash SmartTax.

[1144] James is up next in Dallas, Texas.

[1145] James, welcome to the Ramsey Show.

[1146] Hey guys, thanks.

[1147] I really appreciate y 'all having me on.

[1148] Absolutely.

[1149] How can we help?

[1150] So my question is, I'm going to give you a little background.

[1151] Me and my wife just paid off about $550K in debt.

[1152] Yeah, dude!

[1153] Whoa!

[1154] Congratulations.

[1155] Thank you.

[1156] It actually all worked out really great.

[1157] I think God had his hands in there mixing some things up and opening some doors for us.

[1158] So we're relocating.

[1159] The reason I went to sales, we're relocating to Austin, opened up a Chick -fil -A out there.

[1160] We have about 80K left in debt other than our house that we live in currently, and it's about two and a half hours away from Austin where we're relocating to.

[1161] My question is, do we sell the house to pay off the remaining mortgage and then the 80K in debt because we have a little bit of equity, or do we continue to rent it out?

[1162] Because I feel like we don't have...

[1163] too much longer to go on that mortgage if we kind of just throw money at it once we get there.

[1164] What are your thoughts on that?

[1165] Well, I'll tell you regardless of if you have consumer debt, regardless of if you have the mortgage still left on it, I would tell you to sell it.

[1166] Okay.

[1167] I would not keep it as a rental and live two and a half hours away and be a long distance landlord.

[1168] And the easy way to look at this is this way.

[1169] If you lived in Austin, would you buy an investment property in Dallas, Texas?

[1170] No, no, I wouldn't.

[1171] And so I would sell it and be done with it.

[1172] And guess what?

[1173] It's also going to leapfrog you through the baby steps, get rid of this debt, put you in a stronger place financially, and give you less headache and more peace.

[1174] Yeah, that's where we were leaning towards.

[1175] We just didn't know, you know, with it being so close, do we belong distance tenants or is that too much risk?

[1176] to hold.

[1177] I don't know if it's too much risk.

[1178] You're about to run a Chick -fil -A.

[1179] Like, I mean, you manage a thousand employees and all kinds.

[1180] I don't think it's the risk thing.

[1181] I think it's just like...

[1182] The hassle factor.

[1183] Yeah, it's just an absurd way to live your life, right?

[1184] It's just chaos.

[1185] And I would ask for what, right?

[1186] Like, for what?

[1187] Kind of how it's been.

[1188] And if you want to buy real estate down the road in the future, you want to pay cash for an investment property near you, go for it.

[1189] You'll be able to do that.

[1190] What kind of money will you guys be making?

[1191] So about $200K, and that's what my wife and I included.

[1192] Awesome.

[1193] Are you going to be owner -operator?

[1194] No, not currently.

[1195] That is the goal.

[1196] So two or three years from now, we're going to try to pursue relocating back closer to family where we are now and buying a Chick -fil -A nearby.

[1197] Awesome.

[1198] I'm thinking that...

[1199] It's looking like we should be able to do that.

[1200] Of course, it's not guaranteed.

[1201] Yeah, I just didn't know.

[1202] Chick -fil -A is like, I mean, it's Fort Knox to try to get a Chick -fil -A.

[1203] You can't just go buy one up.

[1204] Yeah, no, but he's part of the Navy SEALs.

[1205] You're part of the gang that gets married every six months or two years or five years, right?

[1206] That opens them up.

[1207] They say it's harder to get into a Chick -fil -A than it is to get into Harvard, is what they say in the Chick -fil -A world.

[1208] I believe it.

[1209] Yeah.

[1210] I just thought of four jokes that I didn't make, by the way.

[1211] I want everyone in America to know I'm wisening up here.

[1212] That's called maturity.

[1213] I'm maturing right before your eyes.

[1214] But yeah, dude, and here's the other thing.

[1215] Is there a possibility that you rent for a year in Austin before you settle on everything?

[1216] Yes, that's our idea.

[1217] We're going to go scope out the area, rent, save up some cash so that we do have enough down payment when we decide if we're going to either stay there or relocate back.

[1218] That's kind of up in the air, but renting is our main.

[1219] priority going down there wait hold on so you might go down to austin for a year open this place up six months and i know you never know how long these deployments are going to be um but then it'll definitely be two years minimum okay we have another store opening up about that'll it'll turn us into a multi -restaurant um the operator will be a multi -restaurant operator and so i'll be over both of those okay great and we're trying to it will for sure be there two years Three to five is when I will most likely try to apply, depending on how ready we feel.

[1220] Yeah, I would sell the house.

[1221] Yeah.

[1222] Okay.

[1223] Think about it this way.

[1224] That's another presidential election from now.

[1225] Who knows, man?

[1226] Yes.

[1227] Who knows?

[1228] Right?

[1229] So I would cross that bridge when we get there.

[1230] Absolutely.

[1231] It's amazing.

[1232] And once you guys are in a better financial spot, be sure to send John and I some sandwiches.

[1233] We'd appreciate it.

[1234] Yeah, there's this elusive...

[1235] You know the card I need, James.

[1236] You know the card I need.

[1237] There's a special card.

[1238] There's a special card.

[1239] Hook a brother up.

[1240] All right.

[1241] Francois is in Los Angeles up next.

[1242] How can we help, Francois?

[1243] Hey, how's it going?

[1244] Great.

[1245] What's going on?

[1246] Well, I live here.

[1247] Dave will be very happy.

[1248] I have zero car payments in the family.

[1249] I've never paid for a car except cash.

[1250] So everything we own is owned.

[1251] If I can't put the cash down, I don't drive it home.

[1252] Wonderful.

[1253] It's a great way to live.

[1254] Yeah.

[1255] Yeah.

[1256] So I have a small, very small business compared to some of the guys that call in.

[1257] I have a marine repair shop here in San Pedro, California.

[1258] I've been open for seven years.

[1259] Pretty much started it from scratch.

[1260] I'm 50 years old, so I have about 25 years experience.

[1261] And the business grew very quickly for the first three, four years.

[1262] You know, we're born -again Christians, so we don't rip people off and mess around with their money.

[1263] And I've been renting for the last few years.

[1264] Two years ago, we moved into a big property because my landlady sold, and it's literally the only property we could find.

[1265] And it has been very hard on us because the rent tripled.

[1266] The gross at the time was around 150, and that was just me on my own.

[1267] And we have a serious amount of demand.

[1268] I went through eight people last year at my shop who came in and tried to fit in.

[1269] And from drinking problems to just incredibly bad at trying to do the job or just late or not on time, it's impossible to find skilled, responsible labor.

[1270] I am in a position where we've been verging on bankruptcy the last two years because I've been trying to build the business up and train people who have just turned out to be pretty awful.

[1271] So what is the business making today as it stands with the work that you can take on?

[1272] I'm stagnant.

[1273] I think I am floating between around $130 ,000 to $150 ,000 a year, which is about as much as I can cope with mentally and physically doing this alone.

[1274] So you're maxed out on your own at that level without good help.

[1275] I am maxed out.

[1276] If I had one extra pair of hands, I could probably almost double that.

[1277] Okay.

[1278] And what's your rent now?

[1279] My rent currently is about $5 ,600.

[1280] Yeah, it's high.

[1281] I mean, I have literally, so initially when we moved in, the property was about three, four times the size of my previous.

[1282] And I thought, okay, there's always a demand for storage, so we'll try storage.

[1283] And that literally did not happen.

[1284] I don't know why.

[1285] Then I tried boat rentals.

[1286] We invested in some boats to get into the boat rental thing, and it's just been very slow.

[1287] I'm currently sitting here with about $100 ,000, $120 ,000 worth of inventory that we've been trying to sell, but the economy has just been so poor.

[1288] So we're asset poor.

[1289] The rent's been killing me. It's been very hard to find qualified.

[1290] I don't care about certification.

[1291] I just need someone that can, A, pitch up on time and do the job.

[1292] Just a warm body at this point would do.

[1293] Hey, Francois, what was your take -home pay last year?

[1294] Oh, I don't even want to know.

[1295] I did my tax return for 2023, which was the worst.

[1296] And I'm not going to lie, it was $11 ,000.

[1297] Okay.

[1298] Don't lie, dude.

[1299] There's no shame here.

[1300] We're just three dudes just sitting around having nachos.

[1301] Shocking.

[1302] So after all expenses, you were making like $5 an hour.

[1303] Somewhere around there, yeah.

[1304] It was brutal.

[1305] Can you sell this thing and go get a job?

[1306] You're killing yourself, dude.

[1307] You're dying.

[1308] I know, I know, I know.

[1309] And I know this is a dream and I know you have to, you have to grieve it and you have to be sad about it, but dude, you are dying.

[1310] I've thought about it.

[1311] I've contacted some brokers because we only have five -star reviews.

[1312] Let me just put it this way.

[1313] I'm one of two shops in this town.

[1314] The other shop, the guy's a total crook.

[1315] But listen, Francois, this is not an indictment of you or your character.

[1316] Or your business.

[1317] You're a good guy.

[1318] No, no, I get it.

[1319] You're a good man. It didn't work.

[1320] It's not working.

[1321] And your soul, like you having a stroke for $11 ,000.

[1322] If it's 11 million, I might trade my brain for $11 million.

[1323] Well, that was, the thing is, like, the last year I probably did better than that.

[1324] Well, but even $10 ,000 or $25 ,000, that's still half of what you can go make at Starbucks.

[1325] You know what I mean?

[1326] Between the California tax and the soul tax, you need to get out of this thing.

[1327] Yeah, just get out and exhale, get a fresh start, and then go do something that's going to bring your family some income, but also some peace, man. And you've got 25 years experience.

[1328] I think anyone would be lucky to have you.

[1329] And so I'd be looking around your industry to see who's hiring and what value you could bring to them.

[1330] This is The Ramsey Show.

[1331] Hey guys, I've got a big announcement.

[1332] George Campbell and I are bringing back Investing Essentials, our two -night virtual event, deep diving into investing and real estate.

[1333] Learn step -by -step how to get the most out of your 401k, mutual funds, and real estate investments because there's no better time to get the clarity you need to invest with confidence.

[1334] Watch live on March 4th and 5th.

[1335] Get tickets today at RamseySolutions .com.

[1336] slash events.

[1337] Welcome back to The Ramsey Show.

[1338] Reminder that this is the last segment for this hour.

[1339] Unless you jump over to the Ramsey Network app, it's the only place to get full episodes of The Ramsey Show.

[1340] You can download it for free using the link in the show notes or just search Ramsey Network in your app store.

[1341] If you're on radio, stay tuned.

[1342] The show will continue.

[1343] as promised.

[1344] Well, John, sometimes on the show we don't know if the callers actually follow through with what we told them to do or what they said they were going to do.

[1345] And so we had a caller earlier named Maria who was asking, hey, should I cut up my credit cards?

[1346] I'm working on paying off these debts.

[1347] I got most of them paid off.

[1348] Is it going to affect me if I cut them up?

[1349] We said, no, go ahead and cut them up.

[1350] Do it now.

[1351] She said, well, I'm on my way home.

[1352] I don't have the cards with me, but I will.

[1353] And I said, promise?

[1354] Send me a DM with a video of you cutting them up.

[1355] And she delivered.

[1356] She slid in to George's DMs head first.

[1357] That's the kind of DM I want to see.

[1358] Just cut up credit cards.

[1359] So here we go.

[1360] We have the clip that she sent in.

[1361] Let's play it if you're watching.

[1362] Yeah, yeah.

[1363] Oh, beautiful.

[1364] The capital.

[1365] This is what I want to see.

[1366] There was like seven cards.

[1367] Can we play that again?

[1368] I think there's like seven or eight cards in this pile.

[1369] Yeah, there's a huge pile.

[1370] Remember she said she had nine or something like that?

[1371] Oh, my goodness.

[1372] There's no sight more beautiful than just a pile of credit cards.

[1373] There you go.

[1374] It represents freedom.

[1375] You're breaking free from broke.

[1376] You're bucking the system.

[1377] We love to see it.

[1378] So thank you for that, Maria.

[1379] All right, switching gears, John.

[1380] One of the top things that you talk about is wills and insurance.

[1381] I do talk about wills a lot.

[1382] And that's just off air, just behind the scenes when we hang out.

[1383] I'm paranoid about insurance, and I just can't wrap my head around people who don't have a will, which is 70 -something percent of Americans.

[1384] It's staggering to me. And so I want to cover some top myths about wills and insurance real quick, just to clear the air, help people understand the importance of this.

[1385] And it is crucial for effective estate planning.

[1386] And no, you will not die sooner by talking about this stuff.

[1387] I'm going to be your hype man. Oh, good.

[1388] I've always wanted one of those.

[1389] On the background of some of these.

[1390] If I was a rapper, you'd be on stage with me, hyping me up.

[1391] You'd be like, who's that guy?

[1392] That'll be me. Myth number one, young or single individuals don't need a will.

[1393] Here's the reality.

[1394] Regardless of age or marital status, if you're an adult with any assets at all, a bank account, property, a pet, a will ensures that your wishes are honored after your passing.

[1395] That's all it does.

[1396] Without a will, it's a mess.

[1397] The distribution of your belongings is determined by the state, a .k .a. the government, which may not align with your preferences.

[1398] They're not great at divvying this stuff out, dealing with it in a timely manner.

[1399] So if you want it done the way you want it done, get a will in place.

[1400] It's super easy to do.

[1401] Myth number two.

[1402] Creating a will is super expensive.

[1403] Reality, attorney fees for drafting a will can range from $300 to $1 ,000, and there's way more affordable options now with online services like Mama Bear legal forms.

[1404] They've been a great partner with us since I have my will through, and they offer legit wills that are done by lawyers at a fraction of the cost.

[1405] Another myth, John, identity theft isn't a significant concern.

[1406] Identity theft is a crime.

[1407] According to Dwight Schrute.

[1408] According to Dwight Schrute.

[1409] Yeah, it's a growing issue.

[1410] Get this, in 2023 alone, 15 million Americans experienced identity theft.

[1411] And that resulted in a total loss of $23 billion.

[1412] That's a 13 % increase from the previous year.

[1413] And I think that number is going to keep going up over time as we deal with more digital life, the digital world with crypto and AI, and you have your info in 19 more accounts.

[1414] And so you got to get identity theft protection.

[1415] And that's the next myth.

[1416] People think that's unaffordable.

[1417] Individual plans typically cost between $10 and $40 a month.

[1418] Family plans range from $13 to $60 monthly.

[1419] Listen, your subscriptions add up to more than what it would cost to get this protection.

[1420] So get that in place.

[1421] And finally, the last myth.

[1422] If you can rebuild your home with cash, homeowners insurance isn't necessary.

[1423] Yikes.

[1424] Even if you have sufficient savings to rebuild after a disaster, which by the way, 99 .9 % of people don't.

[1425] Purchasing homeowner's insurance is very wise.

[1426] It's going to protect your savings.

[1427] It mitigates financial risk, allows you to preserve wealth for other purposes.

[1428] Dave Ramsey has homeowner's insurance on his property and every single investment property he owns because for the price you pay for that premium, it is totally worth the insurance company taking that risk instead of you.

[1429] So there you go.

[1430] If you're unsure, you have the right protection in place.

[1431] We have a free coverage checkup that makes this super easy.

[1432] Go to RamseySolutions .com slash checkup or click the link in the show notes.

[1433] If you're listening on podcast or YouTube, well worth your while to get that coverage checkup.

[1434] RamseySolutions .com slash checkup.

[1435] And dude, I always feel like, especially when you and I are on together, George, the Instagram, YouTube -y, influencer -y world is so full of People who are just not telling the truth.

[1436] Shysters.

[1437] That's what I call them.

[1438] Just liars.

[1439] Just complete liars.

[1440] So here's the deal.

[1441] Just for people at home, George and I both have a will.

[1442] We both have identity theft protection, and we both have homeowner's insurance because we're not insane.

[1443] Let me say it that way.

[1444] This is stuff that we do in our own homes, so we're not trying to sell you something.

[1445] We're just telling you, dude, this gives us peace for our wives and for our kids.

[1446] God bless you.

[1447] Get a will, people, and get identity theft protection.

[1448] And please, please cover your biggest asset with homeowner's insurance.

[1449] Beautifully said.

[1450] RamseySolutions .com slash checkup is the place to go.

[1451] Get it done.

[1452] Do not delay.

[1453] Jenna is up next in Rockford, Illinois.

[1454] What's going on, Jenna?

[1455] Hi.

[1456] Thanks for taking my call.

[1457] Sure.

[1458] So my husband and I, we paid off our mortgage at the end of the year.

[1459] Yeah, and then a week later, he found out he was getting laid off.

[1460] Oh, my goodness.

[1461] Yeah.

[1462] Good timing, I guess.

[1463] Can we cheer for a second?

[1464] We can cheer, yeah, absolutely.

[1465] I mean, it's heartbreaking, and so we'll weep with you, but we'll also cheer.

[1466] You don't have a house payment.

[1467] Yeah.

[1468] So he will be working until June.

[1469] That was so disingenuous.

[1470] Okay, I'm sorry.

[1471] I'm talking over you.

[1472] Go ahead.

[1473] No, that's okay.

[1474] So he'll be working until June, and then he'll be done.

[1475] So we have been job hunting, and that's a fun area to get into again.

[1476] But we have a 401 and an HSA that we're maxing out.

[1477] And I'm wondering, should we pull back on that and start kind of saving up some more money on the side?

[1478] We do have a six -month emergency fund, fully funded.

[1479] We also have like a family vacation we were hoping to go on in the fall, but should these things be like, should we just stop doing that?

[1480] Should we pull back?

[1481] I would say you don't need to pause investing right now.

[1482] You have a six -month emergency fund, and then if you have vacation funds, other sinking funds that are for more fun stuff, I would just hold on that until we know that he has stable income beyond June.

[1483] Okay.

[1484] And then once he has that job lined up and he gets that paycheck, let's push play.

[1485] Let's restart the sinking funds.

[1486] Let's take the vacation.

[1487] But for right now, it's not an emergency situation where you need to just pause everything you're doing, don't invest a dime, and just stack up cash.

[1488] Because you have a six -month runway beyond June where your expenses are going to be covered, plus the vacation funds.

[1489] Okay.

[1490] So do we just kind of keep living normally as if he's going to get a job and that we have...

[1491] I would tighten up the budget.

[1492] I would not be living luxuriously during this time.

[1493] I would look at the budget and say, we're going to live on a bare bones budget.

[1494] We're going to keep investing, but we're going to cut things where we can.

[1495] We're not going to eat out as much.

[1496] We're going to just live like we know this job is going to end because it will.

[1497] And I hope that by June, he's got something lined up.

[1498] That's some pretty incredible runway you guys have.

[1499] There's a lot of blessings here that you guys are in the financial spot you're in.

[1500] The job wasn't an immediate loss that he's getting paid through June, right?

[1501] Yeah, yeah, and on top of it, we're hoping for a severance.

[1502] Good.

[1503] So we're hopeful, and we're so, so thankful for this opportunity.

[1504] What kind of work was he doing?

[1505] He's in IT.

[1506] Okay, great.

[1507] Surely he'll be able to find something.

[1508] It's a little bit dry out there right now.

[1509] We've been looking.

[1510] We have a few headhunters that have been helping us, but it's been, what, almost two months of looking, and it's been a little bit scary to see that there's not.

[1511] as much out there as we thought there was.

[1512] Can I ask a question of George, Jenna, on your behalf?

[1513] Yeah.

[1514] All right, George, for those of us who run a little bit hotter when it comes to being anxious, what are your thoughts about taking the money I was putting in my 401 and my HSA and maybe just stocking it away in a high -yield savings account until this thing clears?

[1515] And then once I can make a lump contribution, if we find another job in five months, but...

[1516] Again, I don't know how much money that's actually going to be practically, but if it ends up being $25 ,000 or $30 ,000 that I would have invested out and I've got it and I have to have it, is that bad form?

[1517] No, it's not bad form.

[1518] The HSA, you could do that with.

[1519] The 401k, you're not going to be able to just lump some back in because it has to come from those paychecks each time.

[1520] So you could ratchet up your 401k investing to make up for it.

[1521] So if you wanted to take down the HSA...

[1522] For now, you could do that.

[1523] And again, there's going to be severance.

[1524] They have the vacation money on top of the six months.

[1525] That probably is looking like closer to 12 months.

[1526] That's fair.

[1527] I feel pretty good about it, especially the fact they have no mortgage payment.

[1528] So that's where I'm like, they have more wiggle room than they think now.

[1529] There you go.

[1530] That puts this hour of The Ramsey Show in the books.

[1531] The right questions are the key to unlock personal and professional potential.

[1532] That means if you're not where you want to be, you are not asking the right questions.

[1533] I'm Ken Coleman, and this is what my new show, Front Row Seat, is all about.

[1534] Over my career, I've had the distinct privilege to interview successful people from all walks of life and to coach over 10 ,000 professionals who wanted more.

[1535] What sets successful people apart is a never -ending desire to learn and grow.

[1536] We'll be right back.

[1537] challenge and inspire you.

[1538] Check out Front Row Seat wherever you get your podcasts.