You Aren't Defined By Your Financial Mistakes

Normal is broken, common sense is weird, so we're here to help you transform your life.

“From the Ramsey Network and the Fairwence Credit Union Studio, this is the Ramsey Show.”

I'm Dave Ramsey, George Campbell. The Ramsey Personality, number one best selling author and co-host is Mark Money Happy Hour, is my co-host today. The phone number is Triple 8, 825, 5225, the call is free, and some say the advice is worth exactly what you pay for it.

Brought to you is with us in Las Vegas. Hi, Brought to you. Hi, I'm good. Thank you so much for taking my call. Sure.

What's up? I have a question for you. It's in regards to whether my husband and I should be working harder, looking at debt and

how to deal with contentment and mom guilt, not being able to give my kids everything

that I think they deserve. To give some back story, we're on baby step four, five, six. We have two emergency funds. We have no debt. My husband and I both work part-time, so we get this from lots of time with our kids.

We've easily pay all of our bills. I feel like our budget is comfortable. We don't pinch pennies, but we're careful with our money. My son is becoming school-aged. In Las Vegas, we have the worst schools in the nation.

So, public schools are not a good option. The private school that all of our friends are sending their kids to their associated with our church is like $13,000 a year for like kindergarten. And that just seems like an outrageous amount of money to send on early education.

So, we're looking at homeschooling, but I'm just worried that I'm not working hard enough

or looking at other options in order to give my kids what they need, but at the same time, I feel like I'd work harder just to send my kids to somebody else to take care of. Well, you have a lot of guilt, a lot of different labels to guilt. I mean, it's all over the place, I don't know if I can get to all of them. Well, I mean, it's just choices is what it comes down to.

“If you want that through the private school, you're going to work more, right?”

Yeah. That's your trade-off. And if not, you're going to do the homeschool. And, you know, and there's a trade-off there too, by the way. Right.

People who homeschool will tell you that there are two camps, the ones that love it, and the ones that viciously hate it. And put their children in another school as fast as they possibly can. So, all homeschool, homeschool is not for everyone. I think our children probably be dead if they were homeschool.

I probably would have killed them. Um, if I told you your kids would end up just fine if they were homeschooled, if they went to private school, would you feel better about the choice? If you just, if you looked into the future, they were great kids regardless, which one would you choose?

I mean, personally, I had my kids for a reason. I love hanging out with them. I think I want to homeschool. That's what my heart is leaning toward. What's wrong with me?

Has been an iron leaning toward? So, one must be true for you to homeschool, financially. Oh, I mean, we could do it right now. Financial, we're, we're good right now. So, what's the question?

Why would you not do that? I guess I just, I guess I just watch all of our friends and, like, my son's friend. And, like, they're going to go to this, like, expensive private school. And, like, I guess it's an example of just, like, I can't give my kids everything in the world that they want, right?

Like, I know that's not feasible. And that wouldn't even make good kids. Because you've got to tell kids no in order to be good people. And, but at the same time, like, I just worry, like, oh, what is what we're like. The answer to that was this, we're trying, we're not trying to raise great kids.

We're trying to raise kids that become great adults. And so, what methodology does that?

“Is the secret sauce for them to be successful adults someday?”

That particular shiny private school answer? No. Is the secret sauce for them to be wonderful, a successful adult someday home school? For 100%. No.

The secret sauce is you and your husband being good parents and guiding them through whatever educational process you use, where they don't lose their dead-gum minds in the process of getting an education. But where we get dislodged is where we think that if they don't have this car, they're not going to be successful.

If they don't wear these clothes, they're not going to be successful. If they don't go to this school, they're not going to be successful. When those are not the pre, these are not the pre-indicators of success. Pre-indicators of success are what you said earlier.

They're grateful, they're not entitled. They're kind and compassionate. There are people of strong integrity and a strong work ethic. They know how to do hard things because mom and dad taught them how to do hard things. Because there's a whole bunch of people in America don't know how to do hard things anymore.

And if you can do hard things, you immediately stand out from the crowd. So these are the indicators of future success with your children. It's not what school they went to. And then you want to fast forward that all the way out to what college they went to, which is the biggest joke on the planet.

What college you go to has zero correlation with success. There's no piece of research that's ever shown that. And yet people still pay 25x to go to a certain college because I went to that college. As if that is the secret sauce. It's really a trophy for the parent to say, look at my, it's a terrible trophy.

For some of your friends, they're, they're parading these private schools in front of you. Um, as a trophy for the parents and not for they're doing it for themselves, not for their kids. Right. It's like some kids in travel sports, so reason they're in travel sports is because dad has an issue.

Dad never made it pro, so his kid has to.

Yeah, so if you don't think he has an issue, just watch how he treats the Empire. You know, I mean, this is all there, right? And it's all the same thing. So, yeah, that's where it comes down to is just my, my overall rant or whatever there. It's, it's a really cool question.

I love your question, by the way, it is my, my reaction to it, though, is to major in the things that actually do cause success and discard the things that don't that other people count on. Okay, and then that helps me with my contentment. So, you know, we take it over into another bucket and say, okay, does buying a really nice

car call success, absolutely not, but I hope you, I hope a bunch of people buy the car to appear successful, to appear that there's something, they're not to impress someone

at a stoplight, they'll never meet, they have a $1200 car payment, right?

And I've done that. And I was 23, about a Jaguar for other people to look at, not because I wanted a Jaguar because I was a shallow little turd and that's, you know, you see what I'm saying? And that's, that's the wrong measure of success. It'll lead you down the wrong path, giving a 16 year old a range rover doesn't mean you

gave them everything.

“You just create a real expensive disaster, that's what he'd happen.”

And it happens, people, I see people, that's a good point. That's a good point. And brand new SUVVs, because the parents said, I want to give them everything, they deserve it, they've worked so hard. Well, and the one, I remember one, Rachel saved up, she saved up like $8,000 and we matched.

We had to throw a one day for your first car and she got a $16,000 beamer, usually.

Oh, nice. You know, back then was a really nice car. Yeah. Now it's a not a bad car. And you know, and, you know, to it around the corner, buys the same BMW brand new.

Oh, to $16 year old, I guess, I don't know if flex or not, $523 car payment back then. Oh, man.

“And that was, that was like, be like I'm in a $15 car payment now, right?”

Might still be paying it on. But it's total flex and I like, and now where is that kid today, lost as a ball and tall wage? No, just can't, she's just lost, she's a kid, they hadn't got a chance. Hey, guys, it's Rachel Cruz.

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“That's such a good subject, contentment, contentment for children and adults and mom guilt”

and dealing with all that. So you don't have mom guilt or dad guilt. If you understand, you understand, I guess none of us do this perfectly, but to the extent you understand what causes children to develop into successful adults. It turns out it's not anything to do with a school they go to, very little.

It's not anything to do with the possessions that they have. It's not even the number of hours that daddy is home as if they're going to lose their ability to be nurtured because daddy works a job.

We've got this nurturing movement going on now.

Yes, we do want children to be safe, we want them to be protected, but some of the best generations of adults have come from children who endured hardship, not horrible things. They were not hungry, hopefully they were not whatever, but you think about your grandparents or some of your great-grandparents that were children in the great depression and how did they turn out?

Well, that was my grandpa and he turned into, well, he was actually a young adult in the great depression, but some people were devastated during that time, obviously, but the hard times did not keep the person from turning out, it turned out they learned how to do hard things and so that's resilience, that's some great, great resilience and grit.

Because you're going, no matter what car are you give them in private school, you put

them in and no matter how much of a bubble you put them in to where they're not, you know, they're not hungry and they're not, you know, crime situation where they're being a victim of crime or those kinds of things. If you put them in a perfect bubble and they don't learn how to deal with tough things when they come, then they're going to have really, really hard time.

They're going to be an anxiety-filled adult because they don't know how to deal with crap. You didn't give them the tools. You didn't give them a shovel when the manure comes, you know, and so, you know, but that's an interesting discussion. And Rachel and I wrote a lot about that in the book that we did together, Smart Money Smart

Kids, one of the things that we've answered for parents a whole lot over the years

“is how do you raise children in this world that are not entitled?”

And it starts with, there's a three-step process, it starts with gratitude and so you become great teacher child gratitude, teach them grateful and with a little kid, it sounds like manners. Thank you, mom, for dinner. That's gratitude, but it sounds like manners, good manners.

Thank you, mom, for dinner. Thank you, Dad, for, you know, the help with my homework. That's gratitude, right? And gratitude then shows you humility, because in order to have gratitude, there has to be some humility.

It has to be, it's not all about you, because if I'm entitled to dinner, then I can just be mad at mom and have a fit if I don't like the broccoli, I don't like whatever, right? But see, we were not allowed to do that at our house and our children were not allowed to do that. You might not like the broccoli, but you don't get to disrespect the mother that created

it, because I'll take you out and create another one that looks just like you. You're going to wish you anything to do that. That's the one we're not going to disrespect the mom, that's not an option, right?

“That's old school parenting, but that's how it works.”

And so you get to understand, the world doesn't revolve around your little butt. Your little butt is just one more little butt, you know, and so it doesn't revolve around you. And so if it doesn't revolve around you, then you would be grateful. And then when you're grateful, that sets you up for the ability to be content.

But contentment does not exist in a bubble all by itself over here, and just land on someone like a butterfly on your shoulder. Oh, now I'm peaceful in content, because you become content, because you realize it's not

And I say, thank you, Lord, for the blessings in my life, Father.

Thank you. You blessed me.

“This is a prayer we say around the Ramses all the time.”

You blessed us beyond our wildest imaginations. Our mind is blown by you, Father. Thank you, for what you poured onto us. That's gratitude, but it comes from, I didn't do this by myself, obviously, I know my Heavenly Father has poured out upon me something that I couldn't have done by myself.

And I guess I worked hard, but I couldn't have done it by myself. And so then out of that, you set yourself in a spiritual position to be content. And when you can teach children that in this culture, they have a superpower. Then they're totally good to not upgrade that car with a payment. They go, I'm good.

My car works. That's fine. Yeah. And they don't say stupid stuff, like, I work so hard, I deserve, you don't deserve anything. Shut up.

When you have the money to pay for it, that's when you deserve it. Until then, you're a whiner. Call that whambulence, right? I mean, when I work so hard, oh, shut up. We all work hard, when I don't meet anybody says, you know, I don't work very hard.

And I deserve it. Nobody says that. Of course you work hard, shut up.

“Now go make some dad gum money, live on less than you make, get yourself out of”

that and save up, and pay for something, and then you can say, I deserve it. But until then, it's a dangerous-- I don't deserve $1,200 car payments. That's just dumb, bud.

Those are kids who grew up into adults, but never actually became adults.

Yeah, it's called the reverse. Their children that became children. They became children. They became grown children. That's frightening.

Which is kind of an oxymoron, if you think about it. And you don't want your kid to marry that person, let alone be them. Lift. Yeah. Yeah.

You teach your children to identify those people and stay away from them. Because otherwise they will make your grandchildren, and now you've got a real mess. Yeah. That's a grandchildren. Yeah.

Can you imagine entitled grandchildren? Not the Ramsey house. Well, I mean, Dave's not putting up with that. Well, I love my grandbaby, so I mean, grandbabies are awesome if you can smell great. Grandbabies are going to be out of the nasser to their parents, but, you know, but, you

know, Papa Dave, we don't, we don't do that at Papa Dave's house. Papa Dave's house is how we do things. There's rules. It's like, you know, we say thank you, Jesus, and thank you, Mimi. We are grateful.

Papa Dave's house, because we know where all good things come from. Jesus and Mimi. That's right. Dad, just lucky to be in the room. I'm just lucky to be around and get to observe this thing happen.

You're turtle on the fence post. But in that fun, I mean, it's the, I loved her question.

“That's why I wanted to spend a minute on it.”

Because the intentions were great. The motive was great. It was not, it was not an instant sir question, but, and it took me to a place that didn't think I would go to this quickly in today's show, but, you know, so many of the things that we chase that we call happiness, or we call entitled, or we call deserve, are the

wrong things to get us to the destination we were trying to get there. It turns out the range Rover won't take you there. Well, it's hard because the character stuff, that's invisible, and as a parent and kid, you just want to see the visible thing, the nice car, the private school, look at what they have.

She said it. Well, I look around at all my friends. Well, there's the problem. Stop looking around, because you're going to lead you to that discontentment. Get off of Facebook and Instagram.

Get out of the car. No one puts the crap in their life on Facebook or Instagram, they only put the highlight real. It's like, oh, Rachel used to do that thing. It's like, no one puts on there, you know, the 1993 Honda hashtag blessed, you know, nobody

does that.

They always put, right, the new thing on there, this, this garb, you know, the thing I can't

shine in your car with a bow on that. Look at my husband got me, he likes just with her red bow, you know, whatever. It doesn't get as many likes on Instagram. Yeah. And that's what you're chasing.

No one puts. They don't put, you know, you're child having a meltdown three years old on the serial island. Everyone who's ever had a kid had one that just lost their mind in the grocery store at least once. And it's like, they don't, you know, we ought to post that stuff.

I'm willing to. I've got a three year old in a one year old, that's ever, at the Tuesday in my house. Well, you shouldn't do that, because they'll know have a digital tattoo of the rest of their life. Oh, somebody will pull that up when they're running for Congress.

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“Todd is, whether it's Todd's in, to pick a Kansas, hey Todd, how are you?”

Good, how are you?

Better than I deserve, what's up?

Well, so we agree that that is probably not a good thing. And what is your thoughts on programs that have interest free, like for sectors, cars, something like that? The manufacturer will have an interest free program and you can make, like in my case, it would be on a tractor and they have all sorts of different programs that kind of fit what

would work for you, but I would like to talk of using other people's running for free. Well, I don't know the car manufacturing side of it. I don't know the tractor side of it, but I suspect it's similar.

“In the car world, the only way you get an interest free loan on a brand new car is”

the real interest is you pay sticker price, which I don't know why anyone would pay sticker price, because I'm going to buy a new car, I'm going to buy it for a lot less than sticker, like a lot less than sticker. And so the difference in what I would pay for it and what you would pay for it if you took the interest free sticker price loan is called interest.

They got their money. They just didn't call it that, and I suspect John Deer or caterpillar or whoever is probably doing the same thing on the tractor side with conbines or whatever else, those are huge ticket items, and I suspect they're there. Let me just tell you, there's no instance that you can loan someone money for free unless

you're making up what would have been the interest somewhere else, someone's paying interest on the borrowed money somewhere. And so it's built into something somewhere, or they're just taking a little less profit and calling it an interest free loan, because banks don't loan money, interest free. And so organizations don't lend money, interest free, and if they do, it means they're

making the equivalent of interest somewhere else, or they're going to go out of business, agreed? Yes, there's no free loan, not normally, so I was going to pay cash for this machine and the guy gave me the price, it was $89,000, and then I was reading something and I saw that cabota had an interest free program, so I called the dealer and the guy, the salesman

and asked him, and he said yes, and the price was still $89,000, and then he said there's all sorts of programs with if you'd like to put down what you'd like to put down, whether it be a monthly yearly payment, what have you, so that made me think. Well, what I want then is a discount for cash. I don't know, I don't like my $89,000 out of price. If I'm in your shoes, that's the way I would go at this. I'm not going

number one, number two, as I've studied wealthy people, I've never met a single millionaire,

they said, you know, the way I became millionaire was I parlight all these, nothing down,

“zero percent interest things on my cabota, and that's how I became a millionaire. Never”

of a met a millionaire, they said they did that. Millionaires just don't play with this stuff, but it's kind of a mind game that it's, you know, if you like math, like you do, and I do, to get into it. But George, have you run into this with a tractor world at all? Not in the tractor world specifically, but the 0% game is everywhere now. And number one, you're right, the sticker price is going to be higher, and there's no negotiating. So

you're not going to get any cash discount. That's what you're trading off here. Number two, they're hoping and knowing most people won't pay it off in that 0% promotional period, which then triggers all of the interest. So he might be the exception of the rule because he has the cash, but it's still adding risk, and he's still getting a worse deal by going for this. Yeah, and they get kickbacks anytime they work with a lender, they're

getting a kickback. You know, it doesn't occur to me to borrow money at under any circumstances. So because I've not found that to be how people become successful financially. Yeah. And so, you know, I've got a cabota skid steer at my farm. It's one of my favorite toys. We put a bush aug on the front of it, and I go over there in bush aug and talk about therapy. That's a great kind of like pressure washing therapy. It's the same thing. And it's better

than that. Oh, it's really good. I'm not going to cut up and chew up some stuff with

that thing. And I never thought a thing about doing anything, except paying cash for that

one about it. Yeah, just a toy. Well, that's the other part of this. We're not talking about is this sort of slippery slope mentality of, well, I did the 0% over here. Why not do it on the furniture and on the appliance and on my personal car? Because I know I'm smart enough to pay it off. I have the cash. It's a lot of calories to burn to keep up with all of it. And so, but no, I, you know, I wouldn't have to test it. Call us back if

you can. It won't cause you to be wealthy. The interest on $89,000 or whatever. That's what the price was. Yeah. My next question is, what do they cause used? Could you buy one

“slightly used at 70? I think Todd probably afford this. He's just mental gymnastics. I”

think he can buy. But he doesn't want to part with his cash. No, he was okay with it until the dealer said you can get 0% and then he can start doing mental backflips. I like to hang on to it at that point. I kind of, I kind of understand how you can get there. But, but no, I would not do it. I'm not going into debt. I don't do it. I would not tell you to do it. I've not met wealthy people that use this as a method of building wealth. And so, while

it sounds like I'm using other people's money for free, you're somewhere in there, somebody's not. It doesn't work if you do. All right, Susan's with us in Portland, Oregon. Hi, Susan. How are you? Hi, Dave. Thanks for taking my call. Sure. What's up? I'm a 62-year-old divorcee. I have zero debt. I don't own a home, but my car is paid for. And I'm living with my partner who does not charge me rent. I have approximately 1.5 million in retirement

funds. And the question is, what is it good amount that I could take out monthly and still have enough to live on? Because my biggest fear is running out of money. And I live very

“for doing now. I live on $2,000 a month. And I think I need just guidance and what to”

think of that. Let's just do some basic math, okay. What's your 1.5 million invested in? Traditional IRAs, Roth IRAs, and what's the investment? Good mutual funds. Growth, gross stock mutual funds? Yes. Okay. So, you think the portfolio is averaging what the market is average around 11 percent, 12 percent? Yes. Okay. And so, if your 1.5 is going up by, let's just use some, let's pretend. If it's going up by 12 percent a year and you pulled off

8 percent, that means it would still go up by 4 percent a year. Does that make sense? Yes. And so, 8 percent of a million and a half is $120,000 a year. Well, $10,000 a month. Yeah. I could do that. I think you're okay. You said you spent 2 grand a month? Yeah. Yeah. Where are ways away? You could upgrade your life. And here's the idea. Here's the

thing. If we make 12 and we pull off 8, we never touch the 1.5 and it grows by 4 a year,

you never even touch the principle much less run out of money. Yeah. That's where I get hung up on because I see it as a finite amount. And it's not a finite, if you never touch

It's mathematically infinite if you don't touch it. Okay. And what about the common 4 percent

rule? It comes out that it would be about 60,000 grows. What about that common? What common? What common? What kind of common? I mean, why do we want to be common? I don't want to be common anything. He's reading the internet. The guy just came up on that. It came out and said that was way too conservative. It's probably more like 5 and 1/2 for now. Who knows what it is? If the inflation rates for and you pull off 8 and you leave 4 in there,

there's a common rule. Let's go with that common rule. I just made up a new common rule.

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borrowers and select non-types only. In a MSID-1591, in a MS Consumer Access.org equal housing lender. 1749, Mallory Lane, sweet 100, Brent went in to see 37027. Quick circle back. The financial world. The world of CFP's certified financial planners, financial advisors, financial goobers who get degrees in finance like I did, a bunch of nerds and a pile, often become Pharisees. And they get caught up in the

world of hypotheticals to where they can't even use any common sense anymore because we get paralysis of the analysis because we're so good at math, those of us that do that world. George's studying CFP right now and you've observed this. I call them certified financial Pharisees. And so, instead of certified financial planners, but CFP's, but not all of them are, but some, I can get caught up in that. If you had to generalize them, then

the dumb butts write articles on the internet. And they write stuff like the common rule, or the common rule of 4% withdrawal rate. So if, but here's the trick folks, you need to learn to do your own math. Because these people spend so much time over analyzing this stuff, they, they, they read, there's nothing left when they finish. And they're set of assumptions, most of the time, it's so ass-in-ine that it doesn't apply to the

real world. So just learn to do your own math. So here's the rule. Here's, here's a, here's some basic things you can do math with, right? The inflation rate has average

“for the last 84 years, the consumer price index, the CPI, that's what we measure inflation”

with, 4.2%. That means, on average, your money has lost its purchasing power for percent a year. Now Biden and COVID, we had some 9% and 10% Carter, we had some 10 and 12 and 14% and gas lines in the 70s if you're old. Okay? But those, but still the average over 80 plus years is about 4%. And so if you're going to project out from age 60 to age 100, your retirement years, then 4%'s probably pretty good. There might be some years, it's higher, there might

be some years as lower the average, which is the middle, hello, it's not the median, but it's the average, it's still 4%. So if you through that, if you're making 12 on your

you broke even. That's pretty simple, right? So if you leave, let your money grow by 4%, you're not only not deteriorating your nest egg, the goose is just fine and he's still laying some small golden eggs, but we're taking 8 of the 12. You're more, that'll run

“in perpetuation forever, do your own math. But some gooper said, what you need to inflation”

to just, I just did, we need to do, we need to adjust for this and that and we need to have a conservative number and we need to use real dollars and we need to use CGR and we need, and would you shut up and join us over here in the real world? Because if you draw 4% and you leave 8% in there, this money's going to double in about 7 years and this poor woman is worked her whole life to have a million and a half dollar. She's a freaking millionaire.

She's scared to live because she read your stupid but common, raw, raw goal, whatever the garbage line was for 4% with draw rights and I'm seeing 4% with draw rights for 40 years and I've been on the floor and doing that. That study was then in 1994, that's the crazy

part and here's what's wild when you actually look into the study, it has a lot of assumptions.

It was a low market returns, high inflation, assuming your portfolio had a whole lot of bonds in it, assuming your portfolio sucked exactly. And to your point, Dave, I've read an article from my highly respected CFP that everyone in the community would say, this guy knows what he's talking about, here's what he found. Over 2/3 of the time, the 4% rule, leaves retirees finishing their 30 year horizon with more than double, they're starting principle.

And that's just, I suck at investing. That's pretty wild to think about. It's going to decent mutual finance that are a bunch of stupid bonds like some of you see a piece telling to do. And you know, I'm 65, you know, I'm a bonds ion precisely zero, which upsets the CFP community to know in because don't you understand that set allocation? Yeah, I understand how dumb the theory is and I'm not going to follow it because if there's

anything I am, it's defiant. I'm 100% defiant of stupidity. So, you know, and I'm not wearing a mask either. So shut up, I mean, I'm just defiant, right? He likes to go against the grain. Yeah. We guess he worked out really good for me.

“So, here's the thing. If you, if you, if you, if you make 12 because you've got good”

growth stock mutual funds and you get average market returns, the S&P, the Senate Standard and Poor 500 is average 11.8. So, if you make 12 on your money and you pull off only 4, that leaves 8. That means your money is still going to double every 10 years, not 30 years, whoever did the study. The second study you referenced. Okay. So, that means her

million and a half, she's 60 years old, 62 years old, and at 72, she's going to have

$3 million and have lived on 4%. Because she was scared by your stupid but analysis on the Internet. So, this makes me live it when you put out bad information and these people work their whole lives and now you've still got them on beans and rice because you overanalyze everything in your parasitic mindset. You're killing me out there. And then you gave Ramsey makes people poor. No, Dave Ramsey made you make them rich. So,

“they don't have to worry about people like you. That's what, oh, God, the 4% rule.”

Do you have a question? Do you have a question up on that? But anyway, it's blood pressure. If you had one of these watches on, it'd be like, hey, you need to take a walk. Well, it because these people have worked so hard. It's hope stealing. I mean, they're going to

need more. Nope, you need more. You need at least 7 million and a half dollars

and it's still not enough. It's still not enough. It's like Zillock. Zillock came out in the article last week. You know, 243 cities, it takes a million dollars to buy a starter home. And they put out that as the clickbait headline. When Zillock's own data says that the typical starter home is $199,000. But they managed to find 242 cities in California. They cherry-picked the highest cost of living there. That's all right, that have a million

dollar starter home. Well, guess what? You don't need to be living those stupid cities if you're buying your first house and you're broke newlywed. So, you can't live in Manhattan. It's too expensive. But Zillock puts out there as if the first time home, the stealer buys hope. First time home bars are all out of the market because 242 cities have a million dollar starter. See, that's just a freaking lie is what that is for clickbait.

And it gets people fired up when the average starter home right now in America, this moment according to Freak and Zillock is $199,000. This is how dumb these people. Well, they cherry-picked now they're going to check out our site for affordable home. Exactly. And so this is why you can't trust

not true according to their own data. And the 4% withdrawal rate is not true according

“to marketplace data that has been around if you can do basic sixth grade math. So, if you're”

invested in good mutual funds, you can withdraw 6 to 8% and never touch your principle.

They leave a hundred percent of your nesting to your kids. And so, if you've got a million dollars, that's 60 to 80 thousand dollars a year and never touch the principle it will grow. It's crazy this see it's one of the CFPs. He even said at the end of this using linear return projections. He found a retiree could safely withdraw roughly 6.0 points and 6%. That's coming from a respect to CFP. So, to say that you can't do 6% you're

going to run out of money is hogwash. 8% for that matter. You're not still going to run out of money. So, 4% is way too conservative. You'll end up, hey, you'll have a good problem. You'll leave a whole lot of money. But in the meantime, you didn't live your

“life. Yeah. So, I've got a buddy that's, he's my age of 65. He's got 3,000 bottles”

of wine in his cellar. That's an amazing way. He's going to drink it all. It's the same

thing. He's never going to get through that wine. He's not going to make it. He's not

going to make it. He's going to have to sell off some of it or leave it to his kids. He's kind of like, well, let him do this boy. Same thing. You can't, you're, it's impossible to destroy a collection of that size in your lifetime. So, same exact scenario. at this show, sponsored by Better Help. Summer is here and, whoa, everything changes this time of year. The kids are at a school, routines are out the window. You're

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Hi. Thank you for taking my car today. I appreciate you all. Sure. I'm taking the time to put me on there. So, I have found myself across roads in the last week or so. And I started down the path that's trying to find, take a solidation, stuff like that. And within the last four or five days, I actually want to chin and stuff and really, really, really, I'm sorry for the last four or five days. What, you broke up?

I've found y'all's YouTube and stuff and really been paying attention to that. Oh, cool.

“Listen to what you have to say about the debt and everything, just kind of want to put”

myself out there and get your opinion on what I need to go. I did start the baby step that you were talking about. I've got the $1,000 foot back right now. Good. But with the college debt consolidation, I've really realized how I would control my unsponsolated debt has been. I've got 16 credit card accounts. Pretty much all of them are maxed out more less or on the close side of things. A few of them are in collections and I actually got

a lawsuit about two long ago. They did not go through the court, did not find them that company's failure. But the attorney has been reaching out on the settle. So, we're trying to tackle this a day at and get back on track entirely. I want to see what the lawsuit was on a credit card that was unpaid. Yes. Okay. Okay. And how much total credit card debt on the 16 credit cards? 83,172. Okay. All right. We have a sponsor that I want you to talk

to called Guardian Litigation. And what they do is they're not debt consolidators, but

works a lot like debt consolidation, but it's not debt consolidation and it's a law firm.

So you've got representation built in. And they do a really good job on situations like yours. And now, if you've got $8,000, it's not worth messing with. You've just figured out, but you've got $80,000 on 16 accounts. And this is really what they specialize in. Yeah. And their website for you is Guardian Lit.com/RamsyPhilip. So, at the end of this call, a jump on there, and they can at least help with that side of it. What's your household

income? So, me and my wife together, we have bio. So, me and myself a yearly is about $58,000. She's about $41,000 out of taxes. We have not had our bank accounts together. We've had a family account in separate accounts. So, that we're actually in the process of

marching everything together. Wow. And good for you.

Well, you're starting on your job, I'm proud of you. Good. Okay. Now, how much other debt do you have other than the $83,000 on the credit cards? So, we have her core payment, which is she taking care of that in our issues? We have a boat. No, no, no, no, no. How much do you owe on her core? Thank you for $14,000. Okay. We, you're married to her. We have $14,000 on her car. Okay. And your boat, at $19,000, it is up for sale. I'm currently got leaves on it.

Looking at this week. Good. What kind of boat? Okay. Good. Good. That boat will sell. Okay. Good. I also got equipment truck, my truck is paid for. Let's truck works. I've put it up. That I'm afraid of, I actually put it as a package

hoping to sell everything in the equipment in one deal and kind of closed out a lot of

this debt. But I'm afraid that the truck is probably going to be in the $67,000 range. And I've got 20,000 of credit card debt in the truck with repairs over the last year and a half. Yeah. But you don't have anything. You don't have a lean against it right now of any kind.

“Not that I'm aware of. Okay. And the equipment is what?”

Skid steer trailer, attachments, have listed everything in the $50,000 range. And definitely we'll be taking a lot less than that. Is that all used for work or just for your hobby stuff? So, I used on a company, sold it for years, bagged and really well, while property, which is another thing I have, that's an asset that I've got up, being talking to people about selling it, clear it. What are you on the road for the last week? Nothing is paid for.

Oh, I'm so worried. I've got about six years ago. What's it worth? I had an offer come to the Melio Day at $60,000. I felt like the property has walked more than that. What do you think it's worth? I feel like it's worth at least 80. Cabin and stuff. It's a much property, what is eventually messing with me right now is this is, I had it secured from my children, my sons, my father, family, it's a recreation property. And it's really

“kind of mess with never last few days of realizing I've got a liquid aid. That's why the”

equipment, the boat, other assets that I've heard of evolved over the last couple years are up for sale trying to bring the cash flow in to clear it, to keep the land. The guy told to say they made a mistake on the offer. And then once we talked more, he's like, oh, it's more than what I realized it was. We had a cab and he had a pond and all that stuff. And he hasn't got back with me. That's kind of my last resort. But that would clear out a

hundred percent of everything. They couldn't over clear out ninety percent. How much rate would you want to large debt? Fifteen and a half. From where do you want it or what? We do. It's a hot and property. We don't get to get too much pretty much yearly. We get one week and then there are a couple of weekends with fuel and stuff. And kind of for a prime of bill, it's kind of for to really go up there and maintain it. That's what the

equipment was for. I was maintaining that property. You do a little child job here and there, stuff like that. Okay. Yeah, you got out over your schemes. What happened? Yeah.

“Absolutely. All right. Well, here's the thing. You're not defined a lot of people”

hunt deer with permission on other people's property. Most people hunt deer on other people's property with permission not their own hunting property. So I'm with you that we try to dump everything else and keep this and keep it clear. That's fine. But your family heritage and legacy is not going to be ruined by not owning that 15 acres for deer hunt. It's just not. You've got other things you can do other ways you can do that. And you'll have a lot more money and a lot more

freedom. But yeah, you just stacked up a bunch of stuff is what you did. You got yourself in a pinch. Well, the best legacy to leave is you becoming debt-free, you building wealth for your own family.

He's got kind of a get out of jail free card by selling this land if he has to. But

sounds like he's doing the work to sell as much as he can. And then use his future income to cash flow the remainder. And he could be out of this thing much sooner than a normal color. Yeah, yeah. Because I'm looking at least $130,000 in credit card debt and say

“that's the equivalent of the land. How long have I got to stay in that in order to keep the land?”

Because in a very real sense, you're just paying that off too. Keep the land. Yeah, it's kind of like a really expensive mortgage. Yeah, it's really expensive.

25% APR? Yeah, I'm with you though. I agree. And Philip, what I love most about your stance on

everything was that you've already started taking action. The boats up for sale, the skid steers up for sale. I have so much truck too with it. The, you know, we're looking at the offer on the land. We're combining our accounts. We've already got the $1,000 set aside. So you're already making moves. You're going to be okay. You're going to work your way through this. You're not going to lose it. Because you're a man of action. Yeah, the willing and the sacrifice is the key determining factor for him.

Yep, exactly. And then if you get down to it and the smoke clears, you still need to sell the land.

Sell it. You can, you can dare hunt somewhere else.

As a dad of young kids, I'm starting to think a lot more about the world of growing up in and how I'll

“help them make sense of it as they get older. And that's why I like world watch a video new”

service for pre-teens and teens. Because one thing I know for sure, if you don't teach your kids how to understand the world, somebody else will. And these days, that could be TikTok, YouTube, Instagram influencers or whoever happens to show up in their social media feed. World watches, 10 minute videos help young people understand what's happening in the world through a Christian worldview without all the outrage, negativity, and noise that is everywhere these days. The reporting

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free trial. Just go to worldwatch.News/Ramsy or use promo code Ramsy to get started. That's worldwatch.News/Ramsy. Our every dollar app has its own fan base now. This app allows me to keep my budgeting goals organized. I love the projection on when we'll be debt-free. And my estimated net worth gives you something to work towards and gives you a light at the end of the tunnel. Hey, that's awesome. Hey, if you start every dollar for free, not only will you have the world's best budgeting app on your

side, but you're going to have Ramsy in your ear. We're going to be teaching you the same stuff George and I would teach you as you go through the app. It's a personalized plan. We're going to walk you through the baby steps. The fastest way out of debt. The fastest way into wealth and it's free. Go to every dollar in the app store or Google Play. Isaac is in Salt Lake City. Hi, Isaac, how are you? I'm doing well. Thank you for taking my call and forgive my nervousness.

It's okay. How can we help? I am recently divorced. And while I know what I need to pay legally according to the decree for alimony and child support, I don't know if it feels right morally,

“especially at its end in the 2022. Okay. You feel like you should pay more?”

Yes. Okay. The reason I say this right now, alimony and child support together is $2,900 a month, but I am fearful that when it is ends in October of 2022, then in this economy, she'll be left destitute or high in dry in that I wouldn't be like it makes sense. I'm sorry. Yeah. Yeah. That's unusually compassionate toward the X. What do you make? $116,000 a year, but just yesterday, I accepted an offer for 120, which I'm excited about.

And $29,00 a month for three years, right?

Yes. It started per way through last year, but it's going to go until October, 2022. And how old is she and what is her career? I know that she was a manager for a old company a while back, but I don't know if she's working at all right now. She's just focused on

“raising the kids and homeschooling them and things like that. She is 37. I'm 36. How old are the kids?”

The youngest is two years old and the oldest is six years old. Okay. So the $29,00 is going to be largely child support, isn't it?

Not in Utah. I was told that the Allen only portion is only $269 of it. And then that the remainder is child support.

Okay. I don't know what I'm talking about except from years of experience dealing with this. And it and because I don't know anything about Utah Law and I'm not a divorce specialist, but typically three children when you make a $100,000 a year is not going to be $900 a month. You might have those two numbers flipped. I might be wrong, but I'm guessing. But in most, and I'll say in most states, you would at least have those two numbers flipped.

Did you say you have two kids? Three children. Three, two, six, and what was the other age?

I'd ran in the middle three years old. Okay. So three years from now, you've got a

five, six, and nine year old and they'll be in school and she'll go back to work full time. Is that the plan? I think that she would want and I wouldn't hate for them to continue to be homeschooled, but my goal is, if I can be debt free by 2024, nine, when all of this, you know, and it takes place, then they will stay with me half the time. I'm just trying to get to a point that I can eventually move into a place that they have room to live in as well. So that's my

motivation to become debt free. I'm curious what happened to your marriage?

“We were married for six years. The best way I can describe it without going into a lot of detail”

is I didn't feel need or needed or wanted. She bought a house in 2020 and I didn't know it until she told me afterwards. I didn't feel like we made decisions together and I couldn't. I gave the best I could, but I just couldn't keep going. And yet you're talking to me about keeping going. I guess so. Here's an opinion of a guy, not an attorney. I don't know what I'm talking about

as an attorney and not even a financial opinion. I think this lady's going to have to have a career. She's now a single mom with three kids and she gets child support and she's probably not going to be at home on your door. You're not going to want to take care of her for the next 20 years.

“So she can sit at home in homeschool. That's a not a realistic scenario. If you want to do that,”

it would be highly unusual to the point I would call it weird and I'm not sure it's good. And I'm not sure it's good. The very reason you left there, you need to leave there. And then she needs to go on and make sure she likes making decisions by herself. So now she gets to. And so I would not pay somebody $3,000 a month so they could sit at home in homeschool for 20 years. Or whatever it is, 18 years for a two-year-old. I mean, I'm not know. I don't think that's that will be unusual.

I would make other arrangements for the children. I do other stuff, but I'm not going to just support her and her have no, it's not good for her to have no life. And that's as I mean, she doesn't person a divorced woman to have zero career and be homeschooling the kids and living off of the ex. That is, that's not dignity. That's not good for her. She needs to become a person of a stand-alone entity. It has some independence. Now that point, she's co-dependent on an ex. Exactly. I don't want

my ex husband. I mean, would you want your little sister's ex husband supporting her? Who could pull the rug at any time? Yeah, I don't want that. I don't want that for the ex. I don't want it for the kids.

in work out, but we want to hadn't paid you. No, no, no, no. You can do it if you want. It's your

money, but that's my opinion. And you'll always get that when you call here because I'm an expert

“on my opinion. And I also would check your numbers because I think your numbers are inverted.”

I think it's $2,000 a month in child support and $9,000 a month in my home money. I don't think you got away. Maybe there's something different in you talk. Don't know. All right. That brings us to Lucy and Chicago. Hey, Lucy, what's up? Hi, Dave. How are you? Good. How are you? Good. But as a night is ours. I'm currently in baby studs to kind of put off like that. But my question is more regarding

term life insurance. During COVID, I added might and does an authorized signer on my credit card. She's one of her time and I also co-sign for her apartment, which she still has. She racked up about $1,000 in credit card debt on my card. And I one of them know this getting life term life insurance in case she may, you know, pass before she can be off the debt.

Oh, for sure. She's going to pass before she pays off the debt because she's never going to pay off the debt.

Yeah. She impacted all of you. I mean, COVID, six years ago.

“Yeah. So, I mean, we're not going to sit around wait on her. What's your income?”

Well, I make about $85,000 a year. How much debt do you have not counting the $18,000 in debt that's yours? So, I've I had about 63,000 recently I've been listening to you. So, I've I've sold some stocks that I had in the ESP plan and I bought my debt down to about 20,000. Good. Okay. Well, you got $18,000 more in credit card debt. I would add to that list and take around that credit card immediately. And cut the credit card off. Turn it off immediately. Cancel the card.

No more charges on it allowed by anybody you or her. And then when the lease comes up for a new rule, I'm not going to, I'm not going to stay on it as close on it. So, time for her to get on her own. It's been six freaking years. Okay, guys. Let me ask you something. What would it take for you to switch your bank?

“Because if you're still earning next to nothing on your savings, you need to check out Fairwin's”

Credit Union. And I know what you're thinking it might sound like a hassle. Moving your direct

deposit, updating bills, getting a new debit card, feels like a lot. But here's what most

people don't realize. Staying where you are could be costing you hundreds of dollars every year. Y'all the average savings account pays less than half a percent. So, let's say, for example, you've got $20,000 saved. You might earn around $70 a year. But with a Fairwin's high yield savings account earning three percent APY or more, that same money could earn you over $600. And that's real money that you can use towards the baby steps. So, don't let temporary comfort keep you stuck.

Check out the smart bundle from Fairwin's Credit Union. You get a high yield savings account, a no fee checking account, and the Ramsey B Weird Devacard. Go to Fairwin's.org/Ramsey to learn more and make the switch today. That's Fairwin's.org/Ramsey. Ensured by the NCUA. Well, we wish we could get to every call and every question here on the show. If you've got a money question and can't get through, head over to our website at RamseySolutions.com and use the

ask Ramsey AI tool. It's built and trained on only Ramsey data. Three, four years of this show answering questions fed into it. All the books, George and I, and all the others have written fed into it. All the articles on Ramsey fed into it. And so, you will get and we're constantly putting more Ramsey data. I mean, guess what? There's no other trash from the internet fed into it. So, it's impossible for it to answer as poorly as Reddit would, which is what AI is actually pulling

in the AI tool, it's going to give you, it's going to, it's going to be almost as smart

as I am. It's that good. So, check it out, ask Ramsey. It's completely free. And so, if you're sitting in a conversation over the fourth of July with your relatives or something and you have an argument, let's go ask Ramsey. We'll set your ammo right there. We'll set it. We'll set it, we'll set it on the argument right here. We'll know what Ramsey would say. And you'll get the same answer George would have given or I would have given or whatever. So, ask Ramsey at RamseySolutions.com.

If you're on podcast or YouTube, you can click the link in the description. Sarah's in Charleston,

South Carolina. Hi, Sarah. What's up?

Hi, how are you? How are you? How are you? I'm Mary and here. And I just learned about my husband's gambling problem. And as far as I know, everything in the bank account is gone. It's in the red. And I don't know the best solution. I do. I have intercepted the mail and seen the debt on the credit cards. I want to say it's close to 30,000. So, I don't know if filing for bankruptcy trying to do the

“debt snowball or getting with the debt management program is the best solution. How old are you guys?”

44. What's he gambling on? I think it's in slot machine apps and sports.

Sports? Yeah. Did you say 44? Chris. Okay. And what does he make?

I'm around 70 pounds. What do you make? I'm gonna stay at home moms. And we don't share finances so I'm completely dependent on whatever he gives me. Okay. And you've been married two years, so you have a two-year-old? We do have a two-year-old, but we have only been married this over a year. Oh, I see. Okay. And we have other children. Not the other.

“Okay. So you have kids? How many of you kids do you have other than this child?”

I have a 19-year-old. And what were you doing for a living before you got married a year ago? I'm became a state-owned mom with no access to money. I was a manufacturing. Okay. Oh, Sarah. I'm so sorry. No, we're in this story so far. Have you said how repentant he is and that he's going to counseling and he's joined gamblers anonymous

and he's turning over all the spending to you and he's giving up all rights to all money, which is what an addict has to do if they want to stay married. So far, I've not heard any of that. I think we have discussed putting making his direct deposit going to an account with just my name. He has been in contact with somebody from our church who runs the men's meeting that is

addiction-based. They haven't got together yet, but they have been in conversation. Okay. There's talk. I don't know. Yeah, there's talk. So let me give you some harsh realities that you guys have to work through and I hope you can work through them. But I'm not an expert on addictions, but I have worked with addicts for 35 years because 100% of addicts have financial trouble. Okay. 100% of addicts also lie

and manipulate. It is the nature of the beast. And so you cannot trust a thing that's being said.

“The only thing you can trust are the actual actions. And so he's got two and a half minutes”

to get plugged into the next gamblers anonymous meeting. And two and a half minutes to have the pastor at your doorstep sitting in your living room, coaching the two of you on whether or not this marriage is going to survive. Not two and a half weeks, two and a half minutes. And he needs to turn over 100% of all debt and all finances over to you. He has zero control of anything as a starting point. Otherwise he's a lying manipulative addict and you're an enabler.

The fastest growing addiction right now in America is online porn. The second fastest growing addiction, this tearing family's apart, is online gambling. And sports betting has gone from

5 billion to 150 billion. And it's men 25 to 45 years old. It's completely gutted the male

portion of our population. And we think it's cute with some guy holding a balloon at draft kings or MGM. It's not cute. It's screwing America over and you're sitting in the middle of it with a baby. So darling, I want you to get really angry than you are right now and tougher than you are right now for the survival of yourself and your children. And this guy has got to regain trust over the next many years that he stays completely sober from gambling sites of any kind and any other addicted

behaviors because he's plugged into a good therapist, into a good church and into gamblers anonymous. All three and he has no control over anything except to work all of the time and bring you the checks and then I think you can walk out of this with the baby steps. But if you don't do all of that exactly that way, if he hedges on anything, he's electing to exit the marriage because that's

what's going to happen eventually. Eventually you're going to get tired of this. The third time

you pay off all the debts because he lies. If I had him on the phone, I would call him a liar because a hundred percent of addicts lie. You follow him in here? I'm worried about you, honey.

“This is about babies. Access to his smartphone because you need to get rid of that thing today and”

get him a dumb phone that has no apps on all he can do is make phone calls. Phone calls and text to you saying how much I'm working. And pulling up this message I made. You need to pull both of your credit reports tonight. Go to annualcretterreport.com, pull them for both of you from all three bureaus to get a full picture of what this mess is before we can begin cleaning it up. Because if you treat this like it's a sweet little boy that made a 13-year-old mistake and he's just really

sorry, you're going to be broke the rest of your life. Because this is nothing sweet about this. This is evil to it's core. And you're going to have to, you're going to have, you guys are going to have to,

he's going to have to treat it like he just had an affair and he never sees the old girlfriend again.

“Or we're done because I don't need another girlfriend in here. And that's what this gambling is.”

It's his mistress. You got to treat it that way, okay? Are you hearing me? I must do it. Do I sound like I'm over the top to you? I hope I do. Yeah, because I really want you to hear this because I've worked with these folks for years and these guys that sort of kind, oh I'm just going to quit. I'm going to, I don't need anybody's help. I'm just going to quit. I can quit any time I want. Says every addict. Everybody's ever done cocaine. I can quit whenever I want.

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Better than I deserve, how can I help? Okay. We're recently bought a house to fix up and flip. And in which we did. And we did do a real estate contractor owner finance. My question to you is this contract should is set to go off in five years with the balloon payment. But we also have an option to actually keep that real estate contract going to the next 30 years. My better off getting the five years putting it in a mutual fund or my better off leaving that as

this. Well, you're probably not getting 12% on it, are you? No, six and a half. Then you'd be better off putting it in a mutual fund if you got 12%, right? Yeah, just I see that payment coming in that bet. I mean, if you put it in a 12% they send you a payment dude. True. mutual fund is set up on the mutual fund to pay you six percent making 12.

Okay. I was just always trying to do that little bucket system. If I have this bucket,

“I have this bucket, that's what my thought was. Sorry. I don't know what bucket system”

we're talking about. So like I have my, so if I have a downturn in the market, I always have this. It's a constant for my retirement. Oh, I say, you want to be diversified. That's what you're saying. You want to not have all your money in one place. Right. This in case we have a downturn in the market, something like that. Okay. But if you're making six percent on your money, I mean, you could put that and I yelled savings account, and almost make that and be fully liquid.

But on this contract, you're stuck. You have no access to the money whatsoever.

So the five years is better than you did in the brokerage account. Yeah. I never carry back

paper when I sell real estate for that reason. I don't want the money trapped at a low interest rate. Okay. Okay. All right. Easy enough. Thank you, sir. Appreciate it. It's an interesting discussion. And what are your thoughts on owner financing as a general strategy? I wouldn't do it. And seller financing would that be a difference? The seller financing is owner financing. Okay. And seller carries back the paper. That's owner financing.

It's the same thing. The owner carries back the paper and is meaning that you pay them a payment instead of giving them money. So instead of going to the bank, I go to Dave and Dave says, "Well, I'll loan you the money at six and a half percent." Yeah. And you're making six and a half

“percent on your money and you should be making a lot more than that. Now you take the risk that the”

bank would take because you're the lender. Yeah. Well, I mean, you have to foreclose if they don't pay. If you're going to do that, you might as well just have a winner. At least you can get them out. You don't have to go through a foreclosure. I mean, you can make more than six and a half percent renting it. Cash on cash, right? And so I can take this exact same house, put a winner in it, make more money and have, you know, and not have to do a foreclosure. I can just do an eviction.

And the money's not locked up. Exactly. Exactly. So now I can't think of an in this interest rate

environment where, you know, where your S&P 500 is averaging up or 12 percent, then I don't

are 10 percent plus to 12, whatever in there. I'm not thinking why I would carry back paper at

“it at six. That makes sense to me at all. No, I would not do that. And here's the thing.”

You have all of your money invested in a single individual consumer, not a company. That's even riskier. Meaning that little Joe and Susie over here, we bet the whole deal on their ability to keep a job. Yeah. And I'm only making six percent on that. That's a lot of risk for six percent. So no, I'm I'm I'm past on that one. Thomas is in Canada. Hi, Thomas. How are you? Hi. I'm well. Sir. How are you doing? Better than I deserve. What's up?

So I I'm recently just got a brand new job and went up an income. And my girlfriend is this recently gotten a job close to where we live as well. I really I really love this moment quite quite a lot. I'm sorry. A little nervous. That's okay. Good for you. And we're looking to I'm looking to propose to work by next year. And I'm I currently have $277,000 left on my mortgage. I'm soon to be our mortgage. And then I also have $2,000 in consumer credit card debt. And I'm wanting

a pretty minimal amount of credit card debt just want your opinion on that?

“What are you making out your new job? I make so I just this is my I think my second”

month in with with my new role. I currently make I would sit on track about $82,000. Good for you. Good for you. You'll pay this credit card debt off with the next pay check. Yeah. Yes. I'm I'm trying to. Yeah. Then there will be no need to worry about saving money just by the credit card off. They need to be saving for a ring. Yeah. I'm saying yes sir. I'm good for a ring. I'd like to get I know I know you folks at Ramsey have sort of preached. I think I

think a month's worth of salary. Yeah. Is that what you're going to do? I mean this girl rocks

my world Dave. So I'm I'm trying to do more but you know she means a lot to me and she makes

me feel really special and you know I've been through a lot of junk in my life and uh she's that's sweet to ring has nothing to do with it. Yeah. Fair enough. Yeah. I know she's going

“here is this two or three months of salary. I'd like to know then you married the wrong woman.”

Yeah. Yeah. And there's no correlation between the size of the diamond and the probability of the marriage lasting. Fair enough. Zero. All the other stuff there's correlation between all the times you told me how great this girl is in the last five minutes. There's a correlation between that and your marriage lasting. If you keep doing that over and over for 44 years you'll

be sitting where I am. So yeah. And by the way during that time you can replace and upgrade these diamonds.

I mean Sharon's got one of the size of a headlight now but it started out with a little chip. A little tiny little sparkle chip. Not even point two three carrots. This is not even a you can't even see the orange on the carrot. It's so small. I mean this is a tiny it's in the safe because we don't want it to be lost because it's so small. And so that's that was the engagement in the 44 years ago. So you know I think one month is going to be awesomeness and I

want you to I want you to study diamonds a little bit because they're absolutely useless as an investment. But they're they're great thing to give us a gift to your wife. But don't but don't believe all this crap that they go up in value. I've been buying them for 40 years. None of them have ever gone up in value. We got a bunch of them. We got a bunch of them. But none of them went up in value.

“They're just all SWI Sharon wants it. Got it. That was that simple. And so that's what you're”

going to do. But yeah start out with a one month and you can upgrade later and then you guys start stuck in cash and don't wait on next year to propose on it. It's freaking June. Painter get off the ladder. I don't want to take it long. If you can pay off 2 grand. How long have you been dating? We've been dating for approximately year and a half. Oh yeah you're perfect. Have at it bro. Let's get engaged. Let's get this done. Yeah for sure. I got one more question. So we want to we're fully

aligned financially. Or about 90% I would say. We're looking to put finances together. What sort of the best avenue to go about that? I want to have like one checking account. We're not until you're married. Not until we're married. No, no, no. We haven't done that yet. Okay. When it was after. Okay. Not like pretty simple. You get one checking account. Got it. What I did was just I she closed hers down and then I added her to mine and made it a joint. It was that simple. It just went down

to the bank and did that. Okay. So one joint checking. You can have a high yield savings account for your emergency fund. Another savings goals. You can check out fairwinds.org/Ramsie to get their smart bundle. It has all that. And from this point from that point the point that there's a ring on the finger and we're married forward. Everybody's name is on everything. Pay checks all flow into that one checking account. Until you reach the point that I did a couple of years ago where my name

is now on nothing. Day owns nothing. Well, apparently some people's hobby is to sue Dave Ramsie. So Dave's dives a popper. He doesn't own anything. Sure owns it all. It's awesome. Good and good luck with sue and hers. We're letting him night Shyamalan twist for that poor person who goes, I'm going after Dave. He's penniless. He's broke. You'll be okay, Dave. I'm here for you. George. George, you'll sign me a check, won't you? I'll sign up for your five bucks if you need it. You just go down

to the store. You spot me a ride in the Tesla. You wouldn't dare give your ride down to the market, Dave. That's a liability. So you can catch on fire.

in Salt Lake City. Hi Ariana. How are you? Hi, I'm good. How are you? Better than I deserve. What's up? So I mean, my husband has been working on like the baby steps we've been budgeting pretty much

our whole marriage. And we're finally at the point where we're like trying to build up our emergency

fund. We're debt free and I am just looking at our budget and looking for like anything we can do to be saving more and to build up our emergency fund is like fast as possible. And in looking at it,

“I, the only thing that I can see that like we can move around is our rent and just how much it is.”

So we bring in probably about 3500 to 4,000 a month and our rent is 1950 right now. Wow. And you've been able to pull off all this while paying 50% of your income in rent. Yes. And I mean, we, we still have a margin of about 300 that were paying towards our

emergency fund every month. Obviously, we're wanting to have us to like more than a few thousand

in our emergency fund. And hopefully even next three years. And so 300 is just not going to cut it. And so we're in a community right now. I'm a state home mom. And we also only have one car. That's probably another reason why we've been able to pull it off. But because we only have one car obviously, my husband takes that to work. And I can sometimes use it. But I have a really good community of other moms here in our neighborhood that are all within like walking distance. And so

I guess I'm just trying to decide we're trying to decide if giving up that like because obviously my husband will be fine if we move, but giving up that like for me and for my sanity and even for my daughter, like leaving her friends and things like that, if that is worth it to be able to build our emergency savings faster. Well, here's the problem. You do not have any disposable income. This is what economists call it.

You don't have any margin much to be able to build a lot, to be able to build a life. Yeah. And because you're paying and the worst part is it's not even a house payment. You're giving you a way and a rent. That's true. It's a great point. You think about saving a down payment. It would take you guys decades at this point with just a couple hundred bucks to spare. For sure. And to give some context in the next. So my husband's also

in school right now. And so once he's done with school, we'll be making a little bit more. And then we

“also plan to get into, we want to own a Chick-fil-A that's what my husband does. He manages a Chick-fil-A right”

now and we want to franchise an own one. And so our goal would be to get in a program where we'd be making about 10,000 more than we're making now, but we wouldn't be charged any travel fees or rent

because they would be just basically sending us all over the country. And so obviously, we know that

this isn't sustainable for the rest of our life, but for the next three years, it's like, okay, like we're going to be able to save a lot. What seems great about business? Well, he doesn't have to have a business degree to do a Chick-fil-A deal. You don't have to have a business degree. You do. It just gets you ahead to have a bachelor's degree. And we just have decided that a business degree is going to be not necessarily help point

getting one, but being helpful in like running a good and not going on with that. Yeah. So the question you ask yourself is, is renting here now with this amount of money in this situation going to take me where I want to be 10 years from now? And all the things that you described from me were out there in the future, and none of them had to do with you being in that house. Yeah, for sure. So I want you to go have that future that you clearly outlined. The goal

“is you set the vision that you two have that includes owning a home. And if you need to purchase”

a $2,000 car and come back and visit the old neighborhood for a while, I would do that before I would stay there paying $2,000 a month. Really, okay. And you know, for your to visit your children and your children's friends and your friends that you've made in the neighborhood, that would be fine. But you've been able to build community there. You will be able to build community wherever you go because that's who you are. It's not the low. It's not a function of the

Which is the only way to make this rent sustainable. It's just not, it's not sustainable. It's not

going to take you where you want to go. Instead, it's holding you back from where you want to go, which is why you called and why you wanted us to say what you were thinking out loud.

“She needed the confirmation. Sometimes that's what we do. Sometimes that's what we do.”

Anthony's an orange county. Hey, Anthony, what's up? Hi, dude. Hey, Brad. Thank you for taking my call. Sure. How can we help? We just have a quick question. So my wife, unfortunately, was diagnosed with a brain tumor in 2023. Lucky, I'm not sure the surgery or anything successful, but she is considered disability now.

And she's not even to work. Last year, I didn't know that she had a 401k. It's

probably like a 401k, but I forgot the name of it. But we found out that she has $100,000 in that 401k. So we have no debt now. Thanks to you. I follow your steps. I was able to clear up all my debt. I just recently paid off $15,000 a day. I'm clear. And I have about $10,000 saved in my savings account. Good for you. Well done. We were thinking of taking that money out. And we were able to take it out petalty free. The company told us due to her disability.

But not tax-free. Not tax-free. Correct. But the fee for taking it out early, it's will be way. We won't want to hear that money. I make about $140,000,000,000. So you're going to pull, you're going to lose $30,000. So this is $100,000 in taxes, isn't it? Correct. Yes. That is correct. And we were thinking of putting some of that money. Well, I was thinking about taking it out any year because they still have a one year lease in my

apartment. And we were thinking about putting it down payment for a home since we're debt-free. And Dave, I want to borrow some of that. Dave, I want to borrow money at 30% interest to

“for a down payment on my new house. That's what you're saying. Probably not.”

So what can I do with that money then if I take money for a few more years to put it-- I would roll it to a Roth IRA. I would roll it to a traditional IRA and later to a Roth IRA. And some good growth stock mutual funds and let it grow. Is she permanently disabled? Yes, she was considered permanently disabled. I mean, that's not the question I'm asking, I'm sorry. Do you believe that she is going to be disabled for the rest of her life?

I'm hoping to know by what I'm looking at as she's progressing and doing a lot better. I'm hoping, I'm hoping, no. Okay, that's what I was hoping to. Okay. And so what I want is I don't want to destroy the retirement mistake that she's built. Because that'll double every seven years if you just leave it alone. Yeah. And especially with the struggles medically that she's had, I want to be sure that money is there.

And so now I'm going to-- you guys have done a really good job, Anthony, and I want you to keep doing it. Leave this money alone. Finish your emergency fund and now start saving for your down payment. You make good money. You're making better and better money as you go along. She's healing and going to head towards making better money we hope. And so, you know, you've got a real good five-year vision right here, but don't-- don't borrow money at 30% interest to do this.

Dave Ramsey here, for more than 30 years, I've been talking to folks on the air, and I can tell you that most people are broke. Not because they don't make enough money,

“but because they don't have a plan. You need to give every dollar you earn a job.”

Because when you do that, something changes. You stop guessing. You stop worrying. You stop stressing. Our every dollar budgeting app will show you how to find extra cash, pay off debt,

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tough situations explore low? Fixed rate refinancing options that fit their budget. Go to whyreify.com/Ramsy. That's the letter. Why are EFI.com/Ramsy? Might not be in all states. Today's question comes from Spencer and Arizona. I moved in with my fiance over two years ago. I've paid for all of our groceries, gym memberships, and household items in addition to all

my personal expenses. Also, I added him to my medical benefits for a year and a half and never

asked him to reimburse me for that. He covers our rent and utilities. We are now discussing marriage, but he never clearly communicated his financial expectations before I moved in and his expectations keep changing. How do I objectively determine whether this is a healthy financial partnership before getting married? Easy. It's not. It is not a healthy financial partnership. I saw gold a moving target. This has just been, this is so disjointed from the start. Moving it with something

or not married to. I'm going to pay over here, but then I'm going to just cover this. I added him to my benefits over here. Never asked him for reimbursement. It sounds like I'm like I'm going to HR here. This does not sound like love to me. Nothing says love. I need a reimbursement for my purchases. Oh, gosh. Yeah. I mean, our stance is pretty simple. Combining your whole life. Well, that's only when you're married. Once you're married. Not when you're

shacking up, the problem is you're trying to act like you're married and you're not. And that's

what you get yourself into. It's almost impossible, mathematically and relationally to pull off what you're trying to pull off. And so resentment will build on one side. Yeah, on term. Yeah. Just if you keep in mind, just because you sleep with them, they're still a roommate. Okay, just treat it, you know,

“you just have to, it's a roommate. So you have to decide who's buying the mustard.”

When you ever room mate in college, you know, who's, who's, who's, who's mustard is that? And there's where you each buy your own and later. Did you drink my beer? You know, that's what you're doing room mate college, right? When you're in college, you're like, where did my stuff go? Oh, you ate my stuff. Because it's my stuff. Because you're in my roommate. It's not your stuff. It's not ours. And that's not our stuff. And so that's what you're doing. And people want to play

married, but not be married. And it doesn't work. And the data is now in. 10 years later, you're in really bad financial shape when you do this. So the numbers are horrendous. On what happens to people that are not married and play marriage at 15 years later, financially, they don't build wealth. Because they're fighting over who bought the mustard? Yeah. And I'm going to reimburse. Well, this thing reeks of bears.

Of code dependency or enabling or just bother resentment. Nothing about this is sounds fun. So I would do a reset of this entire relationship if it's even going to work out long term.

“Yeah, I think we need to start fresh and sit down and see a marriage counselor and say,”

all right, if we were married, we would be combining 100% of everything. And there wouldn't be a mine any yours and an hour. So it only just be hours. Much simpler. And then how is that going to feel and how is that going to sound? And do you want to sign up for that? And by the way, when it's hours,

here's what we are going to do. We are going to be on a budget every month that we are both

ever vote on and we're both going to agree to. And we are both going to stick to it. Oh, and we you're going to live on less than we make. And we are not going into that. And we are going to have an emergency fun savings. And we are going to be saving towards the house. And we are going to be investing in retirement. And if we aren't doing that, they're going to be a we. That's it. That's a healthy financial partnership right. Get a line. Get a line on this stuff. The number one calls of divorce and money fights

in North America is money problems. And not being aligned. And so if, listen, if you're 16 or you got a 16 year old or 18 year old, have them just start studying marriage statistics a little bit. You know, what it was statistically what makes a wonderful spouse. If the number one thing that calls as marriage is to end is money problems, then we should solve for that. And vote on the second date like, you know, oh, you're in debts. And you're going to spend money like you're in Congress.

“Okay, you're out. You know, you should solve for that. You know, and if you think your mother is”

going to live with us, we should solve for that. It's going to be, if we're going to raise children and the children are going to be in charge of the house and the adults are not going to be. The inmates are going to run the asylum. Then we should solve for that in the interim period prior to marriage. Because these are the, you know, and, you know, I worship trees and you worship Jesus. We should solve for that. What are the four things you mentioned that causes this

on those four things prior to marriage, you have a very high probability of your marriage being

“successful. But very few people that have different religions and they both deeply believe in them”

make it. And there's other people who are, you know, I don't believe that our children ought to have anything. They should be able to tell us what to do. And then you're not going to, you know, no, we're going to wrong, wrong person. Got the wrong one here. It's being a wrong, long life, smart, elegant kids. Yeah. You mentioned that. If they graduate high school and get married before they move in together, there's also data on that as well. Yeah, this is the study's laying right here.

So this has been studied by like six different pieces of research. It's called the success sequence.

If you do this in this order, the numbers are amazing. First, before you do anything else,

“you graduate from high school. Then you get a full-time job. And only then do you get married.”

And only then do you have kids. And only then do you move in together. If you do it in that order, 97 percent of millennials who completed those three steps in order of the success sequence, achieved middle-income or higher by their mid-30s and only three percent are in poverty. Wow. So 97 percent of millennials that are in poverty didn't do the success sequence in order. And it was a pretty simple. It was a pretty low bar. You know, don't have babies before you get married.

Don't get married before you graduate from high school and have a full-time job.

97 percent of millennials are in poverty. We're not asking you to get a graduate degree.

High school before you make babies. Wow. And you got a 97 percent probability. And stack that with your four pieces over here with the religion, and it goes out to money. Yeah. Now you've got marital success and financial success. And 80 percent of the millionaires that we interviewed are married. Interesting. So it's going to be better to build wealth together. Only 62 percent of the public is married. Interesting. So marriage increases your chances of

becoming wealthy. The moral correlation causation we can argue at the point in the research,

but the research is there. We know the data. The data is actually there. And of those 80 percent

that are married, 84 percent say that a quality alignment with their spouse is why we were able to become millionaires. Not we didn't argue, but we had alignment on the big stuff. Not we didn't disagree about whether or not by that car. That's not what we're talking about. We are talking about we're not borrowing money. We are talking about we're going to be generous. We're going to give to our church. We are talking about we are going to do these things and we both believe that

and we both are putting that in the budget and we both agree to that. And when you line all that up, folks, in America today, you can become wealthy. I mean, it really, it's the biggest thing holds people back as they just do stupid stuff. Do it on the wrong side of the order. Wrong time. And it's like, and then go home. I don't know why I can't. I don't want to be reimbursed for my medical benefits. Because you got it out of order. You know, the old marriage vows used to say

in sickness and health for richer for poor and unto thee, all my worldly goods I pledge. I'm all in, baby. I'm all in. You're all in. We're all in. As Deloni says, right or die. Here we go. All in. Not like, I think we had to play house and see who buys the mustard.

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“Sean's in Tallahassee. Hi Sean. How are you? Good. How are you all doing today?”

Better than we deserve. What's up? I need some help about how to talk to my dad about not

taking out a heal-up on our family property. Who's our family property? His house? It would be me. No, it's my wife and I live in a house on a fine tree farm. Outside Tallahassee and my brother and his wife actually live at the back end. My dad, he was in Atlanta, but he's having, I guess, some cash low problems with his construction company. He called me the other day asking if I would sign document so he could take out a heal-up against the property. I've listened to the show long enough.

I know that's a bad idea. Who owns the property?

Well, it's actually all of us. It's a trust. So we're all on the deed. My brother, my dad,

“myself and my mom. I see. Okay, and who put it into the trust?”

My dad, he bought the property outright six years ago. Kind of as an engagement cousin for my wife and I and then my brother and his wife moved out about two years ago. Oh, sorry. How does that figure into your engagement gift? He just made this one and helped us get a head start. I have a payment or anything. No, no, no, no, no. How does your brother coming into your engagement gift work?

Oh, no, I was just still in, you know, feeling why he's out here, but there's no another. No, it doesn't matter. I'm trying to figure out what your brother is. It was the intent to give you this piece of property than how did your brother get into it? Uh, the intent was to, yes, I guess, give us the property and then it's a 20 acre fine farm. So he's just building a house at the other end instead of buying a new house or something,

you know, moving in somewhere else. You all have really blurred lines about who owns what and why in your family. So your dad gave you an engagement gift of a 20 acre pine farm, but he put it in your brother's name along with his own name. So it didn't really give it to you. And then your brother moves on to

“the property that you were given as an engagement gift. Am I understanding this right?”

Yeah. Yeah. And now he wants to take out a heloc on it because now he's got trouble financially. Yeah. So what is the land worth? Uh, last I looked about 230,000. And are you farming the tree farm on? Uh, yeah, we're taking care of the pine. They're just a pine tree farm.

Just a, what do you do for a living? I'm a general contractor down here in Florida. Like he is back in Atlanta. So you make a living apart from this piece of property. Yes, sir. Okay. All right. Um, well, the thing that I'm struggling with and giving a straight answer on your, and the reason I keep asking all these questions to get clarity is I'm trying to figure out

what to tell you to do, uh, because obviously no, I'm going to tell you to not sign the heloc. Okay. And if you don't sign it, there is no heloc. Yeah. But your dad is confused about who owns the property or you are because actually the three of you own it together, but it was given to you as a gift, but not really.

what, what's going to happen 20 years from now when you all sell it.

Or 10 years from now or 10 days from now when you sell it.

“Is it going to be three ways? So you're a property you were given as engagements, but three ways?”

Uh, we did discuss that briefly, um, while back and essentially he would just get back his initial investment and then my wife and I would get any, uh, any profit. What about your brother? Uh, well, he would just get the, the acres that his house is on in the back. Oh, see, you planted that off. It's no longer part of the deal.

Yes. Yeah. It's actually been planted off and dated to your brother.

No, because your brother still won't be making trust. There's a lot of hesitation here. Yeah. You're making this up as you're telling me, just like your dad does. So no, this is, this is not working, dude. This is going to end poorly is where I'm going.

“It was conceived poorly and it's going to end poorly and this simple question of whether”

to take out a heloc on this is exposing how badly this deal was done because none of you know what's happening here. Well, my brother, well, my dad, my yeah, yeah, it's all over the place. And so what I would say if I'm used, I want clarity out of all of this and clarity is going to involve a written details as to what happens to this land and who has power over it and so forth. So I have given my children gifts. My name is no longer on them when I give them the gift,

thus it is called a gift. Your dad is confused about that and Dave, that heloc to help the struggling business feels like a slippery slope of oh, it's going to go down and then the business, then they're going to lose both things because you're not really solving a problem contracting business. Welcome to a contract or welcome to a business that goes broke fairly often. Well, I'll put in his family at risk. Exactly. Does that he lock? I mean, if

but his dad put up all the money for the tree farm to start with. So and then kept his name on it. So it's like he still owns it because he kind of still does because he kind of didn't really give it as a gift when he was engaged. He kind of kept his name on it. Not kind of he did and then he put his brothers name on it. So he could have the back 40 dollars back 40 feet or whatever is in the back 40. What if he astute to go, hey, if he had the money to pay his dad for his portion,

to just buy him out of his, he doesn't quote an investment. He doesn't make this cleaner, give him the money to be done with this. Okay. Sean has his own career as a contractor and his brother has this, this is going to end poorly. So what would I do in this situation now that I put all my sarcasm into this pot and stirred it here? I would suggest to dad and brother that we sell this property and we divvy it up now. And dad can use that for his cash flow problems and I'll take my

portion of it as my engagement and brother can have his portion as the back corner or we'll actually go do the plat now and give the brother the back corner and dad and I'll split the difference. What if after dad gets his money back or whatever the deal is. But dad needs his money and this is a messed up deal that's going to go sideways. It's all going to end up in relationship problems

because it was never done properly from day one. And so if I were in your shoes, I would suggest

dad instead of stealing a he like one, we just sell it and you get your money out, get my money out and you know, we'll be clean then because this is not going to go well and Sean, you may go, you may be used to this because you're up with it but your wife is going to end up so pissed at her father-in-law before this is over and it's not going to be good for your family. So yeah,

“I think I would just sell it and get my money out. Everybody get their money out there by be happy”

and go to the center ways because when we are when we are tangled we are tangled and I don't think I'm just I'm 100% sure dad's not going to be okay. When when Sean bows up and says no he lock, we're going to have he's going to have to let him hear dad voice on the phone and I'll be using my dad voice, not my partner in a trust voice.

but guess what, normal isn't so great when it comes to your job either. Normal is staying in a

“job you hate, dreading Mondays and working for people you don't even like. Sound familiar?”

Well the good news is you can break free from normal because Ramsey Solutions is hiring and we refuse to settle for the ordinary. In fact we are anything but normal and we are proud of it. And right now we're hiring for technology, sales, marketing, writing, copy editing and creative roles. So head over to Ramsey Solutions dot com slash careers and apply today.

Our scripture that I saw him 84 11 for the Lord God is a son and shield. The Lord bestows

favor and honor. No good thing does he withhold from those whose walk is blameless. Jordan Peterson said the more you open yourself up to the possibility that good things will happen. The higher probability

“is, the good things will in fact happen. Taylor's with us in Dallas, high Taylor, how are you?”

Good. George, good day. How are you guys doing? Better than we deserve. What's up? So I'm recently engaged and before getting married I feel like it's important to

rig myself of about $36,000. There's $72 in debt. The biggest chunk of that is going to

be my truck which I've decided to sell. I owe $30,160. And so in trying to sell him, trying to sell privately, I have about $15,000 worth of equity in it. And just not getting any traction or interest in private sale. Most of what I'm getting is scanners or what I've learned to be scanners for a mass grantee. So I appreciate that tool. But dealerships as well, and they're only offering

“about 80 to 85% of the private value in the vehicle. So the problem is, how do you think it's 45?”

Yes, based on what? Yes sir. Kelly Blue Book. Okay, so that's private sale with your attributes of your truck in Kelly Blue Book is a $45,000 number. Yes sir. And how long are you? Diesel truck 35. And it's what kind of truck again? It's $28,000, 20,500. Diesel. Yes sir. In Texas. Is it duly? No. Okay. And it's what year model again? 19. Okay. Do you just have it listed on Facebook or is it other places as well?

Auditriter cards.com, Facebook Marketplace, and what's the other private one I'm sorry? Well, there's a whole bunch. True car, a car guru. Great list. Okay. Are you getting any views on it? Are you getting views, but no messages? Are you getting messages, but there are scams? What's the situation there? A lot of views that turn into messages who are definitely scammers offering more for the vehicles than I'm asking for, and then saying that they need a ship,

they'll give me a check. And that's where I get sketchy. Yes sir. And then dealerships. I get dealerships not even think of this, but they scoured the private sale market. Looking for vehicles and did shape with low mileage. Exactly. So what are the dealers are offering you what? About 37. Yeah. Okay. Is the best offer I've gotten? Have you tried like a car max or car vonna to see what they would give you? Sometimes they're really high on dealerships.

Yeah, car max is about the same. I had not tried car vonna. Okay. That makes sense. Have you looked at all of these sites what your competition is? Like who else has got a 2019 Dodge diesel up for sale? What are they asking? Yes. Most of them are lower than me, but they have high-remileage and different trim levels.

at private sale, dealerships are selling for 46 to 48. Yeah. For the same vehicle. So I've

“heard of you hit it on the market. I can't load it. Oh, three weeks. Okay. All right. It's probably just”

going to take some time to locate the buyer. Okay. Everything you're saying sounds right. You've done a very, very good job of analyzing the situation. Congratulations. I mean, you've looked at the competition. You've looked at wholesale offers. You've weeded out the scammers. You've got it listed on multiple platforms. If you can find any other platforms to put it on, it wouldn't hurt. But if you got a serious buyer that would call up and say, you know, I'll give you 42,

then you're probably going to take that. But absolutely. But you're at this point. You're not

after three weeks ready to sell the thing for wholesale at 3738. I wouldn't do that. I don't disagree

with you. There's no desperation in this. We're not trying to avoid a repo or simply trying to get rid of the $30,000 or the debt. But we're not going to give up an extra eight grand to do that.

“So I'm with you. I think you've got this dialed in. I don't think it's, I don't think the reason”

I'm asking all the questions is trying to see if you're overpriced. But it does not appear you are. Based on what you told me. Now, the thing we have to all admit is a $45,000 car is still a very expensive car. So there's not a lot of people walking around just looking for that today. Exactly. So it's not a, you know, if it was a 15,000 dollar car, there'd be a lot more market for it, right? That point of competing with people who would just buy new.

Yeah, yeah, for sure. So are you in Dallas? Do you out further? No, I'm not further. I mean, whitesboro. I'm wondering if you call dealers that are closer to the city who may move more of those. If you might have better luck with an offer. I mean, you could keep poking around. I don't think you're going to, I don't think you're going to give him much of our wholesale. But George, you are hurt to do what George is saying. At least you'll find a little one by getting

offered as then in the get to the area. Yeah. Yeah. Yeah. That's good. Okay. So that's already. Yeah. Everything you're saying is right, it may just be a matter of patience. And if you run out of patience, you're just going to cut your price down approaching wholesale to get the deal to work, right, to get somebody to move on it. And I just played that game, selling my car, and we listed it higher. And then we kind of incrementally brought it down every couple weeks until it sold. So that's,

that's kind of the game in the private part of use car market. But that car was a lot less expensive. Oh, yeah. It was like a, you know, eight or $10,000 car, which there's more people in the market for that than the $45,000 diesel truck. Yeah. Okay. Yeah. Taylor, I didn't hear anything that you

“told me that was like way out there. All of it sounded accurate. And so the only thing I've got”

to say is it may take a little while because it's an expensive car. It's a $45,000 car. And the good news is you're not trying to sell a diesel truck and man hat and you're trying to sell in Dallas Fort Worth, which would be a much better marketplace for it. So that, you know, our LA, you're in the sweet spot for selling a truck. So I think that's good. And I think it's going to take a little time. And then you just decide how motivated you are going to become. Or am I going to just

reach over and pay the stupid thing off and keep it? You know, at some point, we didn't ever ask how much you made. We didn't get into all of that. But that's the whole process. So George, it's pretty cool that guy had a wake-up call. He said, "I got engaged. I'm going to clean up everything. I'm going to get my debts cleaned up." He had an I've had it moment. I'm sick and tired of being sick and tired. And it was around his car. You know, I've been doing this for almost 40 years now on the

radio here, answer, and I'm podcasting YouTube once they came along, not for 40 years, but once they came along. And it's persist that the number one thing that we all buy that goes down in value is a car. And the number one largest item that messes up people's finances is a car. And so, I mean, this is a guy, young guy. He's engaged. He's excited about getting married and he was

30,000 dollars on a pickup truck. I mean, just let that set in for a second America. And so these are

the decisions that people are making all across America. And so, let this call be a warning to you that if you're 24, you're 23, 22, and you're thinking, "Oh, I might meet someone in the next few years or months." And, "Oh, there might be a truck standing between me and her." Then don't buy the truck, honey. Your priorities will be revealed pretty quickly. If you're not willing to give up that truck

average new car is now 50 grand, average payment, 768. It's gotten to be insane. So just avoid those.

That puts us out of the ramps you show in the book, so we'll be back with you before you know it.

“In the meantime, remember, there's ultimately only one way to financial peace. And that's to”

walk daily with the Prince of Peace. Price chooses.