0:14

This is the Ramsey Show where

0:16

America hangs out to have

0:18

a conversation about life. Specifically,

0:20

your money, your profession, and

0:22

your relationships. AAA-825-225-225 is the

0:24

phone number. To jump in,

0:26

we'd love to hear from

0:28

you, AAA-8255-225-225-225. Joining me today

0:30

is Dr. John Deloni. I'm

0:32

Ken Coleman. We're excited to

0:34

be together to help you

0:36

out. Let's get it going

0:38

with Michaela in Raleigh North

0:40

Carolina. How can we help

0:42

today. Good afternoon. Thank you

0:45

so much for allowing me to receive

0:47

your wisdom today. Oh boy. Well, don't

0:49

think it's too soon. That is you.

0:51

We haven't even dispensed of it yet.

0:53

Yeah. But I like how optimistic you

0:56

are. What's going on? So I

0:58

have both a money and a

1:00

relationship question all in one. In

1:02

January, my father-in-law sadly passed away

1:04

and left behind my mother-in-law. They

1:07

were married 52 years and he

1:09

handled all of the finances. So

1:11

on his deathbed my... My father-in-law

1:13

asked my husband to take care of

1:15

his mom and take care of the rental

1:18

property, which is going to be basically her

1:20

income going forward. All great. We didn't

1:22

realize until a couple months in

1:24

that the property was left very poorly

1:26

maintained. There were some back taxes on

1:29

it. We had been no insurance on the property.

1:31

HOA is very high. So after we looked

1:33

at all the numbers, we realized this is

1:35

never going to be a truly income

1:37

producing property where she can actually

1:40

receive the income from it. And the

1:42

only reason it has been lately is

1:44

because it was not maintained well. So

1:47

it's been a point of contention because

1:49

it makes sense to sell it and

1:51

get her something else that's more income

1:54

producing for her, but she

1:56

doesn't understand all of that. And

1:58

she's very scared right now. And my

2:00

husband just wants to leave everything as

2:02

is. And she thinks that we're kind

2:05

of stealing her money right now, which

2:07

is not the case. We're just trying

2:09

to back pay ourselves from all the

2:11

expense we had to put into the

2:13

rental property. So my question is,

2:15

because the death is still so recent,

2:17

do we just leave everything alone for

2:19

right now? Or should we pursue selling it

2:21

and buying something that would actually

2:23

be income producing for her for

2:25

her to live off of? And if so,

2:28

what? Time does that make sense to

2:30

do that? Well, do you

2:32

guys have the actual authority

2:34

to sell the house on her behalf?

2:36

We do. It's been changed

2:39

over to our names. How old

2:41

is she? She's 74. Okay, and

2:43

how recent was the passing?

2:45

He was in January two

2:47

months ago. Is anything on

2:50

fire right now? No. I would

2:52

wait. I would wait six months

2:54

to a year. If nothing's on

2:56

fire. Okay. Because

2:58

you're right. Every decision that

3:00

you make relationally is going

3:02

to be seen through a

3:04

pair of glasses that are

3:06

just covered in hurt right now.

3:08

Hurt in fear. Okay. And it's going

3:10

to, I, you can hop, but tell

3:13

me if I'm wrong, it's going to

3:15

be a series of, think of it

3:17

this way. She has leaned on a

3:19

pillar for her entire married life

3:21

and that pillar's gone. And the

3:23

person she may love him, trust him,

3:25

think he's a good man, but she

3:28

wiped your husband's booty, right? That's in

3:30

her mind. And so there's going to be

3:32

a level of trust establishment made through

3:34

a bunch of teeny tiny, consistent

3:36

showing up over the next six

3:39

months, over the next year. Very

3:41

transparent. By the way, data is

3:43

going to help, but it's not going to

3:45

solve the fear problem right now. Right now

3:48

is just all. She lost a lung and

3:50

a leg and a two chambers of her

3:52

heart, right. Right. she's gonna have to slowly

3:54

realize that she can lean on him

3:57

now. My question is, let's go back,

3:59

you see. you said you guys are

4:01

trying to get back what you put into

4:03

it. I'm paraphrasing what I heard. Explain what

4:05

we're talking about. Did you guys personally put

4:08

money into this to try to fix this

4:10

property up? Your money? We had to. When

4:12

we got it, it was about to be

4:15

put on auction because the taxes hadn't been

4:17

paid on it in two years and we

4:19

didn't know that? No, I understand you had

4:21

to. I'm not questioning that. I'm saying how

4:24

much. I wanted to know if it was

4:26

your money. So we've

4:28

put in about $3,400 for taxes.

4:30

We've put in another almost $3,400

4:33

for an insurance policy. We spent

4:35

$800 on a home warranty. The

4:37

HOA has been about $4.50 a

4:39

month. There was some extra HOA

4:41

that we had to pay on

4:43

that that was unpaid. And we've

4:46

had to fix two broken windows,

4:48

change out the washing machine, and

4:50

the HVAC unit needed some work

4:52

as well, which amounted to about

4:54

$1, $1,500. So I got you

4:56

guys approaching what 10 or 15,000

4:59

I got I got you at

5:01

around 12 grand is that roughly

5:03

was that about right? Definitely been

5:05

over it's definitely been over 10,000.

5:07

Okay so the other question then

5:09

with John what John asked is

5:12

right I think he's right I

5:14

agree with your partner on that

5:16

to wait to sell the house.

5:18

Do you is that 15 let's

5:20

to say what you guys personally

5:22

put in? Do you need that

5:24

right away? Well, we're okay.

5:27

That's but that was my question is

5:29

like my husband wants everything to be

5:31

run by books, so like pull the

5:33

money from the rental income but then

5:35

nothing's going to my mother-in-law and she

5:37

doesn't understand all the expense associated with

5:39

it so that's where we're having a

5:41

pointed contention of like how do we

5:43

move forward with this on the money

5:45

aspect of things no no i get

5:47

it that's why i'm bringing us to

5:49

this point and i think it comes

5:51

back to john's advice would you also

5:53

put that in the same bucket because

5:55

right now she does they do need

5:57

to explain it to her as if

5:59

she's a fourth grader there's the relationship

6:01

you want to maintain sweet daughter-in-law relationship

6:04

so hubs has got to step up

6:06

sit with mom and i'll defer to

6:08

john on the appropriate timeline but it

6:10

needs to be explained to her as

6:12

though she's a fourth grader and say

6:14

mom this is all about you we

6:16

put our money into this so that

6:18

you have this we have two options

6:20

going forward it's not gonna generate enough

6:22

income and you've got to explain it

6:24

to her and show it to her

6:26

at the appropriate time. That's right now.

6:28

I think that's okay too, but I

6:30

didn't know what you were saying on

6:32

that. That's math, right? Yeah. And I

6:34

would like. As close to writing it

6:36

down with a crayon as you can,

6:38

this is funny, I was on the

6:40

phone with a 50 year old earlier

6:42

today. Who's entering into... Slow down. Slow

6:44

down. It's getting really old. This is

6:47

getting personal here, I don't know where

6:49

you're going with this. Here's thing. This

6:51

50 year old is heading into buy

6:53

a house, and I gave that exact

6:55

wisdom. I said, listen, don't feel ashamed

6:57

to ask the mortgage company to explain

6:59

this to you as though you're a

7:01

high school student. That's the exact language

7:03

I used. And so a 74 year

7:05

old, he may have said for less

7:07

30 years, I got it, I'm taking

7:09

care of it, sitting down and saying,

7:11

okay mom I need to just show

7:13

you this. There were two windows that

7:15

had to be broke, I mean, it

7:17

had to be fixed. Here's the exact

7:19

cost. This house was about to be

7:21

taken, dad was sick, and he didn't

7:23

realize the taxes. We're not gonna ever

7:25

pin him as though he's a bad

7:27

guy. Because immediately then she's got to

7:30

defend him. Hey, we had to pay

7:32

these back taxes, there were $3,500, and

7:34

here's the receipt for it. And she

7:36

might go, no, none of that's right.

7:38

Mom, it's right. It's right. And if

7:40

you think in that conversation, she can

7:42

get to, oh, then we just need

7:44

to pull this out of this rental

7:46

income, great. If you don't, and you've

7:48

got 15 grand, then it's not gonna

7:50

burn a hole through your family, pay

7:52

the 15 grand, and we'll figure this

7:54

thing out in six months or a

7:56

year when the smoke lifts on this

7:58

deal. Okay. Yeah,

8:00

because what you're building towards Michaela, if

8:02

I heard you correct, is that you and

8:05

your husband believe this thing needs to be

8:07

sold. Correct? It's the best move for her.

8:09

That's what I heard. We do. We've

8:11

had a lot of difficulties working with the

8:13

HOA company and that's never going to go

8:16

away. Sure. I think if we could get

8:18

a different property that's going to prove for

8:20

her long term. Yeah. What we're saying is,

8:23

what we're saying is, is explain the math

8:25

now, don't talk about selling. But we're going

8:27

to build to that and we've got to

8:29

build trust with her in explaining and

8:31

I would even show her receipts on the

8:34

windows. Absolutely. Just walk her through Gomant, we

8:36

did this, we'll settle it later. We just

8:38

want to grieve with you. I like that

8:41

approach, but then when the time is right,

8:43

you got a cast vision, the same way

8:45

you did on this numbers thing. Thanks for

8:48

the call, so sorry for your loss. This

8:50

is the Ramsey show. Rachel

8:53

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8:55

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8:57

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10:22

right let's go to Travis who's

10:24

joining us in Washington DC Travis how

10:26

can we help today hey how

10:28

can we help today hey how

10:30

you doing thanks for taking my call

10:32

sure a question education education and

10:34

career call If we are, I

10:36

was offering a job for about a

10:39

hundred fifty k total kop, but

10:41

I also offered a full scholarship

10:43

to a top twenty-five business school. So

10:45

my question is, should I quit

10:47

my job to go to business

10:49

school? What would be the reason for

10:51

going to business school? What's on

10:53

the other side of that? So

10:55

I want to do a transition from

10:58

account management to a product management,

11:00

and all the roles that I'm

11:02

looking for, I'll require in that. That,

11:04

um, the NBA. Okay. Um, and

11:06

you're currently in account management, making

11:08

150, did I understand that correct? Total

11:10

cop, yes. Say that again? Total

11:12

cop is 150. Oh, your total

11:14

cop. What does that include? Right. So

11:17

once 14 is the base, and

11:19

then the remainder would be your cop

11:21

paid out over R. R. R.

11:23

R. R. R. R. R. R.

11:25

R. R. Okay. All right. So how

11:27

are we paying for business school?

11:29

full scholarship. Are you going to

11:31

be able to work and maintain your

11:34

current job while you're going to

11:36

business school or is this an

11:38

all-in? I'm absolutely quitting and I because

11:40

I have to. Yeah, it's a

11:42

full-time program. So I would have

11:44

to quit. How do you pay in

11:47

the bills? Well, fortunately I'm, it's

11:49

my wife, so she will continue

11:51

working. So we've talked about how the

11:53

finances will look. It would be

11:55

a lot less of course because

11:57

I wouldn't have the income, but the

11:59

main... trade-off that were considered the

12:01

salary after business or all right

12:03

let's talk about the current situation first

12:06

Do you guys have any debt?

12:08

No, no consumer debt. And what's

12:10

her income? You're going to go from

12:12

combined income of what to what?

12:14

Combined to 10, able to about

12:16

98. Okay, you've crunched these numbers and

12:18

you guys are not going to

12:20

be struggling, just a little bit

12:22

tighter. True or false? All right then

12:25

we have security and we also

12:27

have some money that we have available

12:29

investments that we're willing to move

12:31

around if necessary throughout the semester.

12:33

Okay, so a couple things here I'm

12:35

hearing. We don't want you to

12:37

use in the emergency fund just

12:39

to pad the income. Emergency fund is

12:42

for emergencies only. And then I

12:44

get nervous when I hear you

12:46

talking about moving around investments. What's it?

12:48

What does that mean? But what

12:50

we did, we said, we will

12:52

be able to afford this to change

12:54

in income based on our expenses.

12:57

Well, Travis, let me recontextualize this.

12:59

When you call the Ramsey show and

13:01

say you're struggling, people when they

13:03

call us, they don't know how

13:05

they're struggling, people when they call us,

13:07

they don't know how they're going

13:09

to pay your light bill, and

13:11

you may have to sell some stock

13:14

to pay your light bill, or

13:16

are you saying we're not going

13:18

to be able to go out to

13:20

pay your light bill, or are

13:22

not going to pay your light

13:24

bill, Well, no, I didn't

13:26

say that I was struggling. He said

13:28

they won't struggle. He said it would

13:30

be tight Okay, tighter is going to

13:33

struggle to know if I heard you

13:35

right Travis, you didn't say you guys

13:37

will be struggling to make it paycheck

13:39

to paycheck, correct? Correct. I don't don't

13:41

foresee it's been struggling based on what

13:43

we've We've calculated, but it will be

13:45

tight. Okay, we're cut out and come

13:48

ahead. All right, well, that's okay. I

13:50

mean, that again, I calculated a move

13:52

like this that doesn't scare me. I

13:54

just don't want you touching retirement accounts.

13:56

If these are, if these investments are

13:58

non-retirement and it's supplemental. that's the only

14:01

scenario by which we would be okay

14:03

with that but really we want you

14:05

to cut cut and not be struggling

14:07

where you go backwards financially. What do

14:09

you think what do you think and

14:11

not let me take change the way

14:14

I just asked that not what do

14:16

you think and not what do you

14:18

hope? When you have sat down with

14:20

some people in your field or you've

14:22

sat down with one of the executives

14:24

at the company where you work and

14:27

It's a rare thing because NBA programs,

14:29

especially executive NBA programs, but two-year laser

14:31

focused NBA programs are cash cows for

14:33

universities. They used to be big time

14:35

and it's level off. For you to

14:37

get a full scholarship to a top

14:40

20 NBA program tells me you've got

14:42

some kind of special and you've got

14:44

something going for you that is unique

14:46

because that's just they don't still hand

14:48

those out. I know some Hot shot

14:50

people making good money that went to

14:53

NBA programs and they had to pay

14:55

full freight So something special has happened

14:57

for you. So when you sit down

14:59

and talk to somebody on the other

15:01

end of this thing What do you

15:03

think you're going to make? What is

15:05

this going to what leverage is this

15:08

going to give you besides just a

15:10

job? Because I promise you in 10

15:12

years the we're going to be in

15:14

a place culturally and economically where The

15:16

you have to have crossed this particular

15:18

you have to check this box to

15:21

come work for us. Nobody's gonna care.

15:23

But I do I do know and

15:25

I trust you and I know this

15:27

to be true. There are jobs that

15:29

still have that we won't even interview

15:31

you unless you've checked this box. So

15:34

fair. What are you going to be

15:36

making on the other end of this

15:38

deal? Maybe from just like a value

15:40

at outside of salary. No, no, just

15:42

what what are you going to make?

15:44

You make 125 now, 150 now, when

15:47

you walk across the stage with an

15:49

NBA from a top 20 program and

15:51

you circle back to do to be

15:53

a project manager at some of these

15:55

firms that you're working at now, are

15:57

they going to pay 300? They can

16:00

pay 450? What's the ceiling for you

16:02

then? Oh. That wouldn't be out the

16:04

gate. So what I'm anticipating is when

16:06

I first, like my first role on

16:08

an NBA program would be about the

16:10

same style about making now. But what

16:13

I'm, what I'm confident about is that

16:15

my earning potential will be higher. Right

16:17

now I don't have that NBA or

16:19

that matches program. So the role in

16:21

the matter. the confidence

16:23

for the year. Your long-term potential is

16:25

higher. Because I've talked to a lot

16:28

of students on the front end of

16:30

grad school, man. They're like, no, no,

16:32

when I get out, I'm going to

16:34

make $140,000. And then I say, just

16:36

go look at the market. And they're

16:38

like, oh, man, 75. So what makes

16:40

you confident? Doesn't anticipate just based off

16:42

just the school stats and what I've

16:45

seen, what I've researched from the entry,

16:47

not the entry jobs, but the jobs

16:49

that they have recruiting for, they're looking

16:51

at around 150 at the average. So

16:53

it could be less, it could be

16:55

more when I first get out, so

16:57

there's a chance that I would have

16:59

less of a salary when I first

17:02

get out of the business school. But

17:04

I'm looking at three to five years

17:06

afterwards, being able to earn the income

17:08

potential to get a more senior role,

17:10

which I'll be more qualified, which I'll

17:12

be more qualified for. And also being

17:14

able to transition industries a little bit

17:16

sure So how long is the program?

17:19

Two years, okay. Yeah, you know look

17:21

here I

17:23

challenge the process naturally when I hear

17:25

someone say I have to have an

17:28

NBA but I think John addressed it

17:30

correctly there are in fact I believe

17:32

you that you've done research and that

17:34

some of the jobs that you want

17:37

to be able to get into are

17:39

requiring or certainly recommending that so I'm

17:41

not going to dispute it but I

17:43

really John just touched on something that

17:46

I wanted to jump on I'd like

17:48

to see you get less out less

17:50

information online and put in your head

17:52

that this is going to pay off

17:54

and I want you talking to people

17:57

that are where you want to be

17:59

five years from now. I'd really prefer

18:01

that. I wrote an entire book on

18:03

that, the proximity principle, and I think

18:06

having lunch or coffee with some men

18:08

or women that are where you want

18:10

to be down the line and getting

18:12

their opinion to me, far more important

18:15

than what any business school puts on

18:17

their website. Because here's what the, what

18:19

the, that's a marketing tool that a

18:21

school's going to put on their website.

18:24

Here's a couple of things they can

18:26

factor in, not always, but sometimes. One,

18:28

they may give you the average salary

18:30

of those people who got jobs. and

18:33

they don't address the folks who didn't

18:35

get jobs. The other thing they may

18:37

do is say here's the average salary.

18:39

What that doesn't paint is I could

18:42

right now put on a piece of

18:44

paper the average graduates from my PhD

18:46

program make X. But because I work

18:48

not as a day-to-day therapist, but because

18:51

I'm working where I work now and

18:53

I've got two best-selling books under my

18:55

belt, I would drag that average way

18:57

out of whack. And so it would

19:00

say, man, the average graduate makes this

19:02

much money, holy smokes, and you go

19:04

do that, and that would not be

19:06

representative of what most people make. That's

19:09

number one. Here's number two. I heard

19:11

a little inkling of this. If you're

19:13

bored at your job, or you're just

19:15

done where you work, before you take

19:18

two years off, and by the way,

19:20

I'm as pro, go get a free

19:22

NBA, if you can get that, that's

19:24

a great credential. If you're just bored

19:27

at your job, you're done with it.

19:29

If you're already pulling 125, 150, I

19:31

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19:33

be a project manager somewhere right now.

19:36

And so that's worth at least having

19:38

one or two conversations with real people

19:40

out in the field, my brother. But

19:42

yeah, all things considered, if y'all can

19:45

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19:47

that free credential from a top 20

19:49

school. This is the key. You guys

19:51

got to be all in on the

19:54

sacrifice. Bill

20:51

out a short online survey to get

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21:05

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a-l-d-i.us. Hi,

24:31

thank you so much for taking

24:33

my call first of all. I'm

24:35

in not a bit of a

24:37

pickle, a big pickle. In 2022,

24:40

I had to go on short-term

24:42

disability for some kidney illnesses and

24:44

so on. I was on that

24:46

for three to six months and

24:48

had to end up quitting. Oh

24:51

no. I ended up moving, I

24:53

know. So I ended up moving

24:55

from California to Utah to help

24:57

take care of him. He did,

24:59

he did beat it, he's in

25:02

her mission, so that's great. And

25:04

yeah, he actually got colon cancer,

25:06

but he's in her mission from

25:08

that now too. But I know,

25:11

and in that time frame, my

25:13

grandmother ended up getting sick and

25:15

I had to become her full-time

25:17

caretaker and she went to hospice

25:19

that unfortunately passed away. You have

25:22

been through it, haven't you. Sorry,

25:24

so I got a little bit.

25:26

No, you're okay. You're okay. So

25:28

that's tough stuff. There's a lot

25:31

all in a row. That's right.

25:33

Can I ask you, can I

25:35

ask you a question to kind

25:37

of circle out a little bit?

25:39

Yes, for sure. Who told you

25:42

that you are the one person

25:44

who had to take all of

25:46

this on by yourself? My parents

25:48

are not helpful. If they have

25:50

their own problems with drugs and

25:53

alcohol, so that's not... been a

25:55

helpful situation. My uncle who I

25:57

lived with and had had a

25:59

great relationship has stepped in and

26:02

that's my uncle, that's his father

26:04

who was my grandfather so they've

26:06

helped out financially and so on

26:08

but I was the main person

26:10

who moved here and was with

26:13

them 24 7 and things like

26:15

that. How have you eaten and

26:17

paid your bill since then? Credit

26:19

cards? Okay. How much have you

26:21

racked up? I've wrapped up not

26:24

43,000. 42,000? 42,000? Yeah, $43,000. Do

26:26

you have any other? No, it's

26:28

just in credit cards. Okay, and

26:30

are you working right now? No,

26:33

I'm not. What about your kidney

26:35

disease? What's the status of your

26:37

health and your ability to work?

26:39

Because if I understood you correctly,

26:41

you stopped working because of the

26:44

kidney issues, correct? Yes. So I'm

26:46

in the midst of getting diagnosed.

26:48

with this, so they're trying to

26:50

figure out that and I also

26:53

have room with toward arthritis and

26:55

there's a couple other autoimmune disease

26:57

that I'm trying to figure out.

26:59

Are you able to work? Not

27:01

at this current time, no. I'm

27:04

in the midst of going to

27:06

doctors appointments myself. So we've already

27:08

got 43,000 in debt. Doesn't sound

27:10

like we have any kind of

27:12

diagnosis or treatment plan in place

27:15

right now. What do you anticipate?

27:17

The timeline being that you get

27:19

some type of... diagnosis plus treatment

27:21

and in any sense of when

27:24

you might be able to go

27:26

to work and how are you

27:28

going to stay alive financially? What

27:30

do you know? So I'm hoping

27:32

in the next six months I

27:35

can get treatment for the diagnosis.

27:37

I have been diagnosed with arthritis.

27:39

I have tested positive for lupus

27:41

but it's a symptom-based disease that

27:43

we're trying to Limit you know

27:46

what isn't what's not any sense

27:48

from your doctors as to when

27:50

you would be able to work

27:52

Not now not really The waiting

27:55

time for the end of specialists

27:57

is pretty hard. I've been waiting

27:59

for us to get into neurologists,

28:01

different rheumatologists, different rep- So what's

28:03

the plan? What's the plan as

28:06

of right now to be able

28:08

to fund your life? As of

28:10

right now, what I'm looking at

28:12

is trying different things. I'm trying

28:15

to see if I can do

28:17

some part-time dog watching or dog

28:19

seeing, just to bring in some

28:21

type of money. I'm hoping in

28:23

the next six months I can

28:26

get a diagnosis and get some

28:28

semblance of my life back. Well

28:30

the diagnosis, it's not going to

28:32

be a, it's not, it's going

28:34

to be a confirmation, but it

28:37

won't be a magic wand. No

28:39

I know that, but I think

28:41

part of, I think an answer

28:43

would help. Absolutely, like not knowing,

28:46

not, not being able to trust

28:48

your own body is a terrifying

28:50

proposition, no question. And so is

28:52

it okay if Ken and I

28:54

love you in a way that

28:57

we tell you the truth that

28:59

probably nobody has? Is that okay?

29:01

Okay. When it was about caring

29:03

for you, somewhere along the way,

29:05

you got the story that you're

29:08

not worth caring about. But when

29:10

it came to caring for other

29:12

people, you packed up and moved

29:14

across the country and you made

29:17

it happen. Because that's who you

29:19

are. You're way way stronger and

29:21

way tougher than your body allows

29:23

you to believe you are and

29:25

the stories you've been told by

29:28

people all around you your whole

29:30

life. And so here's me and

29:32

Ken telling you, or I won't

29:34

speak for you Ken, here's me

29:37

telling you I love you. The

29:39

greatest gift you could give as

29:41

a caretaker for somebody else is

29:43

to make sure you're okay. And

29:45

right now, your body is revolting

29:48

for a number of different reasons.

29:50

But I'm going to suggest that

29:52

one of the main reasons is

29:54

it knows you're not safe because

29:56

it doesn't have groceries. It doesn't

29:59

have a roof. It doesn't have

30:01

a friend that you can... go

30:03

laugh with or weep with. And

30:05

so this is going to sound

30:08

counterintuitive, but not kind of hoping.

30:10

I would really love you to

30:12

see for nobody else but just

30:14

Alexis. You define two part-time jobs

30:16

that you can do, even if

30:19

it's uncomfortable, even if it's a

30:21

little bit painful, and begin to

30:23

show your body. I can. And

30:28

that goes counter to everything and I

30:30

don't want to minimize your pain. I

30:32

know you're in a ton of pain.

30:35

And like you said, that not knowing,

30:37

there's no name to this dragon that

30:39

keeps burning down how you feel every

30:41

day. Like, man, that is haunting. I

30:44

get that. And it may be that

30:46

when you get these diagnostics, you can

30:48

go file for SSI and go through

30:51

that whole complex place. I don't see

30:53

a path forward, but without, without, you

30:55

gotta, you gotta make some money. I

30:57

agree with you John wholeheartedly, Alexis, real

31:00

quick here, what we've got to do

31:02

is, is you've got to come up

31:04

with a baseline of what I need

31:07

to make to be able to just

31:09

survive, take care of myself, and then

31:11

I know the 43,000 or 44 seems

31:13

insurmountable, it's actually not. It's not. Don't

31:16

file for bankruptcy, don't sign up when

31:18

these dumb credit things. Just get yourself

31:20

above water water. by working the two

31:22

jobs or whatever. I couldn't agree more

31:25

with you, John. And that means care

31:27

about you as much as you care

31:29

about these other people in your life.

31:32

You've got what it takes, Alexis. You've

31:34

got to fight right now, or this

31:36

is going to get way worse. So

31:38

fight. You know, one of the first

31:41

things I discovered working in the financial

31:43

world is how absolutely devastating it is

31:45

when the breadwinner of a family dies,

31:48

and there's too little life insurance, or

31:50

none at all. grieving families are suddenly

31:52

left behind scrambling to pay bills and

31:54

trying to make ends meet. I also

31:57

discovered that there are a lot of

31:59

rip-offs in the life insurance world like

32:01

that whole life crap posing as an

32:03

investment opportunity. What you need is level...

32:06

term life insurance usually 10 to 12

32:08

times your income which is the smartest

32:10

most affordable way to protect your family.

32:13

The key is finding an independent broker

32:15

who represents a ton of companies and

32:17

works for you not for the insurance

32:19

company. This is exactly what my friend

32:22

Jeff Zander and his team at Zander

32:24

Insurance are all about. They shop the

32:26

term life companies to find you the

32:29

best options and they've been around for

32:31

over 95 years so you know they'll

32:33

be there when you need them. Zander

32:35

is the real deal and that's why

32:38

they've handled all my personal insurance for

32:40

over 25 years. I trust them and

32:42

you can too. Visit zander.com for instant

32:44

online quotes or for a more personal

32:47

touch, give them a call at 800,

32:49

356, 4282. All right folks, are you

32:51

staying on track with the baby steps?

32:54

If you'd like, you should take a

32:56

quiz to check your progress and receive

32:58

a personalized plan just for you. All

33:00

you gotta do is head to the

33:03

show notes, click on the link titled,

33:05

Are You On Track with the Baby

33:07

Steps, complete the quiz, complete the quiz.

33:09

This is a great tool, just to

33:12

see where you stand, kind of shows

33:14

you the mile markers, if you will,

33:16

and it's really encouraging, not discouraging, but

33:19

it'll. Can I, can I, you and

33:21

I were talking off air? If you

33:23

were watching the news right now, and

33:25

it feels like the world economy is

33:28

melting down and people are playing roulette

33:30

with your retirement funds and your this

33:32

and your that, you literally, you can

33:35

send a note to your congressman, you

33:37

can call, you can write an email,

33:39

but you can't participate in what's happening

33:41

at that level. What you can do

33:44

is look in the freaking mirror and

33:46

say as for me and my house,

33:48

how are we doing right? And if

33:50

you don't know where you and your

33:53

house are this little tool staying on

33:55

track with a baby steps and receiving

33:57

a plan. That's a thing you can.

34:00

all of this excess energy anger rage

34:02

celebration whatever you're feeling right now walking

34:04

around your house walk around the neighborhood

34:06

and this is the pot talking to

34:09

the kettle here man walking around just

34:11

being exasperated literally helps nobody helps nothing

34:13

and it just assures you that you're

34:16

gonna have a stroke or aneurysm by

34:18

clicking on something as simple as alright

34:20

as for me and my house how's

34:22

our money right now what's the honest

34:25

truth where are we and Channeling

34:27

into things you can actually do

34:29

something about. You can actually control

34:31

and getting off the social media

34:33

train. This is actually a thing,

34:36

a Xanax for a family hang.

34:38

You know what? It's not a

34:40

Xanax, it's not a way to

34:42

numb out. It's a recipe for

34:44

what do you do next when

34:46

it feels like everything's on fire

34:48

around you, right? Get on, go

34:50

check this out, click on the

34:52

link, are you on track with

34:54

baby steps, and give yourself something

34:56

to do with all of this

34:59

excesses going on in our houses

35:01

right now? Well, speaking of what's

35:03

going on right now, let's just

35:05

go back to last week when

35:07

we saw the volatility in the

35:09

stock market or any time over

35:11

the last few decades that you've

35:13

listened or watched the show. We

35:15

have a lot of new people,

35:17

John, that are coming all the

35:20

time. So for the newbies, had

35:22

you talked to us or called

35:24

us last week and said, what

35:26

do I do with my 401K?

35:28

I'm watching it plummet the plummet

35:30

because of the stock market. We

35:32

would have said, sit, you going

35:34

to get hurt. If you try

35:36

to get off the roller coaster

35:38

in the middle of the ride,

35:41

ride the roller coaster, enjoy it,

35:43

you're going to end up. And

35:45

then we came back Monday and

35:47

went down even further. And then

35:49

it came out Tuesday. It's all

35:51

coming down. And then as I

35:53

look at it right this moment,

35:55

as I look at his rugged

35:57

handsome face, it's up 2,400 points.

35:59

The biggest rally in five years.

36:01

So we had the biggest fall

36:04

off. One of the top five

36:06

all time. And now here we

36:08

go. So just the point here

36:10

is, trust us, trust us, trust

36:12

us. We have a methadored madness

36:14

and this is why you hold

36:16

long term, oh by the way,

36:18

and if you don't agree with

36:20

us. There's this guy named Warren

36:22

Buffett, who says the same thing.

36:25

So point made here, don't ever

36:27

let the headlines dictate your financial

36:29

decisions. But I do and acknowledge,

36:31

I'm feeling it. I'm feeling the

36:33

chaos. And it was our mutual

36:35

friend, our manager that we share

36:37

out here, like, it was like,

36:39

man. I know a guy and

36:41

he said you should just control,

36:43

you can control. And I looked

36:46

at him and was like well

36:48

played dude, right? He's just reading

36:50

my own book back to me.

36:52

Like you're right, I can't do

36:54

anything about that. I can make

36:56

sure me and my family are

36:58

on track. And that's what I

37:00

can control right now. So here

37:02

we go. Here we go on

37:04

the roller coaster. Today it's up.

37:06

I have a lot of different

37:09

areas of debt. And honestly, I'm

37:11

a young young guy. I'm 23

37:13

years old. I'm graduating with a

37:15

master's. I'm over $100,000 in student

37:17

debt. I have a car that

37:19

has $13,000 in debt. And I'm

37:21

just trying to figure out the

37:23

fastest way to get a debt.

37:25

I'm on baby step two and

37:27

I think I could pull it

37:30

off in less than five years,

37:32

but I just wanted to hear

37:34

your advice. Yeah, well, first of

37:36

all, glad that you acknowledge the

37:38

baby steps and that you're on

37:40

baby step two, and that's the

37:42

answer to the question. The fastest

37:44

way to get out of debt

37:46

based on millions and millions and

37:48

millions and millions of dollars by

37:51

a lot of people. using the

37:53

Ramsey plan, that's the best way

37:55

to do it. So you're already

37:57

in Baby Step 2. What have

37:59

you accomplished so far? What have

38:01

you paid off so far? Or

38:03

are you just now beginning Baby

38:05

Step 2 with the first target

38:07

being the $8,000? I'm gonna start

38:09

making about $75,000 come May. That's

38:11

pre-tax. So I figured that'd be

38:14

like $60,000 after taxes and I'd

38:16

have no rent and very minimal

38:18

cost of living. Okay, so my

38:20

point is, you have not, my

38:22

question was, have you started already

38:24

or is this brand new? As

38:26

soon as you start getting paid.

38:28

Okay, so we're going to start

38:30

with the $8,000. That's the smallest

38:32

debt that you have, correct? Yes.

38:35

Okay, so your minimum payment on

38:37

those credit cards, we're going to

38:39

go. Minimum payments on everything else,

38:41

but we're going to go above

38:43

and beyond the minimum payment on

38:45

the 8K. So the car and

38:47

the 100,000 student loan, we're just

38:49

minimum payments on those, okay? But

38:51

you're going to put every extra

38:53

nickel that you have towards the

38:56

8K. What do you anticipate the

38:58

payoff of the 8,000? How long

39:00

will it take you to pay

39:02

off the credit cards? Probably like...

39:04

$200. Okay, great. So we take

39:06

this, so what you watch, you're

39:08

walking through this debt snowball. So

39:10

once you pay off the $8,

39:12

you're going to take that $200

39:14

and you're adding that to everything

39:16

actually that you've been pouring in.

39:19

And so now we're going after

39:21

the car. And so that's how

39:23

you do it. Every extra cent

39:25

you've got above and beyond that

39:27

car payment plus the $200 that

39:29

you've been making in minimum payments

39:31

and you're going to knock that

39:33

car out. And then, the big

39:35

boy is the only one left

39:37

and that's going to take some

39:40

time. Let me ask you a

39:42

question about that 100K. Is that,

39:44

did you consolidate it all into

39:46

one big lump or is that

39:48

10 different loans, one at $900

39:50

and one at $62,000? Right now

39:52

there's one that's like, there's two

39:54

that are 20,000. that's $50,000 and

39:56

another one that's $30,000 and then

39:58

there's a really small one. What's

40:01

the really small one? Probably like

40:03

$2,000. Okay so we're gonna reverse

40:05

what I, we're gonna, excuse me,

40:07

put that on at the bottom.

40:09

We're gonna amend what I said.

40:11

The very first debt you're gonna

40:13

pay off is the $2,000 small

40:15

student loan. Then we move to

40:17

the $8,000. And I guess I

40:19

should ask the same question there.

40:21

I'm glad you did that you

40:24

did that John. One credit card.

40:26

Okay, great. So that's the that's

40:28

the line 2,000 dollar shoot at

40:30

loan the 8,000 credit cards then

40:32

the 13 on the car and

40:34

then we've got 20 a 20

40:36

a 30 and a 50 Hey,

40:38

how old are you Daniel? 23

40:40

23. What are you doing making

40:42

75,000? Building skyscrapers. Oh, jeez. Oh,

40:45

see I'm just understood that question.

40:47

I was like he's not gonna

40:49

be doing anything. Oh All right,

40:51

here's my challenge to you. Do

40:53

you have kids? No. Are you

40:55

married? No. Find two other jobs

40:57

to do in addition to building

40:59

skyscrapers. And two or three other

41:01

guys to live with to minimize

41:03

any kind of living expenses. And

41:06

if you're living at home, just

41:08

sit down with your mom and

41:10

dad and make a plan, I'm

41:12

going to get out of here

41:14

at 25 and I'm going to

41:16

have knocked out X, Y, Y,

41:18

and Z of all this stuff,

41:20

but sit down on the plan.

41:22

Otherwise. But here's the deal you're

41:24

you're in your early 20s. You

41:26

have no responsibilities I don't want

41:29

you to have a life no

41:31

comedy shows no going out to

41:33

eat no coffee that you're buying

41:35

you're using you're drinking that free

41:37

Swill on site you are every

41:39

nickel and After two years, I

41:41

don't want you just to have

41:43

paid off this one loan in

41:45

the eight thousand bucks. I want

41:47

you to be through the car,

41:50

too. Just go berserker mode dude.

41:52

You've got nothing holding you back

41:54

Okay And last thing, if you

41:56

get online and you look Look

41:58

at Instagram, they're going to tell

42:00

you to take the highest interest

42:02

rate. That's a recipe for disaster.

42:04

You're going to get $2,000 into

42:06

this $50 grand and you're just

42:08

going to quit. Just follow the

42:11

plan, follow the plan and work

42:13

like you've never worked before, my

42:15

man. You've got this, Daniel, that

42:17

you started off the call. How

42:19

do I do it? Well, you're

42:21

already planning to do it, so

42:23

now I'll just walk those steps

42:25

out and you'll get there faster

42:27

than you possibly imagine. Let's

42:31

be honest shopping for health insurance

42:34

can be confusing with high costs

42:36

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42:38

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42:40

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42:45

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42:47

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42:54

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you at health trust financial.com. That's

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health trust financial.com. This is the

43:43

Ramsey show where America hangs out

43:46

to talk about their money their

43:48

profession and their relationships alongside dr.

43:50

John Lelini. I'm Ken Coleman. We're

43:53

so excited that you joined this

43:55

triple eight to five five two

43:57

to five is the phone number

44:00

triple eight We'll kick it off

44:02

with Tim in Orlando. Tim, how

44:04

can we help today? Good afternoon.

44:07

Thank you for taking my call.

44:09

Sure. I just had a question.

44:11

I wanted some help in determining,

44:14

how do you figure out if

44:16

you're a candidate for long-term health

44:18

care? Hmm. Let me flip that

44:21

on you. What are you thinking

44:23

when a return when you're when

44:25

you're thinking about calling us on

44:28

long-term health care? What's your position?

44:30

What are you thinking? What are

44:32

the circumstances? Well, my wife and

44:35

I just retired this past June

44:37

and we're not sure a point

44:39

to you. Are you comfortable with

44:42

being self-sufficient as far as self-insuring?

44:44

That's the answer. And then... I'm

44:46

sorry, had you here? Yeah, that's

44:49

it. That is the factor. So

44:51

I was curious, I didn't know

44:53

if you were going to give

44:56

me some kind of health situation

44:58

or some health history, but the

45:00

bottom line is, is that if

45:03

you can self-insure because of your

45:05

investment portfolio, your retirement position, then

45:07

you wouldn't need it. It would

45:10

be a general answer, all right?

45:12

So what's your situation? Explain it

45:14

to us. Well, as far as

45:17

health, we're both very healthy. I

45:19

am 60. My wife is 57.

45:21

And we live a pretty active

45:24

life. And as far as financing

45:26

and stuff, we probably have about

45:28

$1.7 million in stocks and bonds

45:31

and stuff like that. Not including

45:33

our house, which is probably valued

45:35

at about $300,000. And we probably

45:38

have about $100,000. $50,000 in cash

45:40

just in the local bank. We

45:42

are debt-free. We don't own, we

45:45

don't owe anything on anything. Yeah.

45:47

John, I in that situation, I

45:49

mean, I don't think you have

45:52

a huge, I mean, your net

45:54

worth is going to continue to

45:56

grow. You said you're 60? Yes.

45:59

And you have how much in

46:01

retirement accounts? About 1.7 million. Excuse

46:03

me, I don't know what happened,

46:06

I just all of a sudden

46:08

like I choked. So the federal

46:10

government, again, that may just disqualify

46:13

what I'm about to say, but

46:15

their estimation is about three and

46:17

a quarter. That the average American

46:20

needs about 325,000 bucks after retirement.

46:23

Okay. And so, and I say not

46:25

after retirement, but to handle a crisis,

46:27

most people, about 80% of people, won't

46:29

live in a long-term care facility beyond

46:32

five years, and about 20% will. Okay.

46:34

And so I'll tell you, my dad

46:36

was a policeman, my mom was a

46:38

teacher and then a professor, and they're

46:40

not wealthy. About 10 years ago, they're

46:43

in their mid-70s. For Christmas, they bought

46:45

the kids. They got long-term care insurance

46:47

for themselves. And that was one of

46:49

the greatest gifts they've ever given us.

46:51

But they didn't have $1.7 million sitting

46:54

in a retirement account. And at the

46:56

time, they didn't have a paid for

46:58

$300,000 in our house. And so if

47:00

push comes to shove, I love the

47:02

idea that y'all are healthy. You go

47:05

get checked up with doctors. All that

47:07

presents that well. For Ken and I,

47:09

our whole life is, our whole job

47:11

depends on. everything was going just great

47:13

and then the wheels fell off right

47:16

and so I want to always hold

47:18

that that y'all doing everything right and

47:20

life happens that happens to all of

47:22

us and and you guys are in

47:24

a pretty good position and assuming that

47:27

we can get through the next few

47:29

weeks months years decades with with the

47:31

last 80 to 100 years being similar

47:33

to the next 10 to 20 years

47:36

you can expect ish that 1.7 becomes

47:38

3. By the time you're 67. And

47:40

then that 3.4 becomes 6.8 by the

47:42

time you're 75-ish, 74-ish. I agree. Tim,

47:44

I think you can self-insure, but you

47:47

know, run the numbers on it. And

47:49

it comes down to your tolerance for

47:51

risk. For risk, but based on the

47:53

numbers you've given us and the amount

47:55

of time you spend and all that,

47:58

I think you guys would be fine.

48:00

I don't think it's a must for

48:02

you. But I also would say in

48:04

your financial position, you can afford it

48:06

too. Right. And that's, like, for me,

48:09

the thing I might, I'm just trying

48:11

to project myself. If I got $1.7

48:13

million in retirement accounts and a paid-for

48:15

house and I'm 60, I would probably

48:17

let health insurance expire at 65 or

48:20

60, like whatever age you have that

48:22

set to expire. But if you have

48:24

an extra, off top of my head,

48:26

I'm making up a number. And you

48:28

may roll your eyes. I don't know

48:31

how much monthly long-term care insurance costs,

48:33

whether it's $300 or $800 or $800.

48:35

But if that's a payment you can

48:37

stomach for the next decade and it's

48:39

just going to let you have a

48:42

little more peace in retirement, man I'd

48:44

throw that out the window. You might

48:46

spend that on fishing gear and coffee

48:48

in retirement, right? That's right. Okay, yeah,

48:50

and as far as like our health

48:53

insurance, I'm a retired teacher, so our

48:55

health insurance, we pay about $350, maybe

48:57

a month to cover my wife and

48:59

I for the rest of our life.

49:01

So that's phenomenal. Hold on. Can we

49:04

double click on that? You're a teacher?

49:06

What did your wife do? Yeah. She

49:08

was in property management. And so yeah,

49:10

I taught elementary. And she was in

49:12

property management. So what's the most you

49:15

guys ever made combined income? Probably, probably

49:17

around, oh, maybe about $170. Yeah. Very

49:19

good for you guys. Congratulations guys. Yeah,

49:21

what's your way? Yeah, and I mean,

49:24

we just got to the point where,

49:26

you know, we doubled down on our

49:28

house payment. When we bought our last

49:30

house, we did a very short mortgage

49:32

and we just doubled up on everything.

49:35

Yeah, man. Congrats. So when you called

49:37

us, it started this call, which way

49:39

were you leaning? Were you leaning against

49:41

not getting it? Well, we weren't really

49:43

sure we had just started to check

49:46

in. into it probably the last two

49:48

weeks. We've talked to like one of

49:50

our financial advisors. She gave us some

49:52

options to go. And I guess one

49:54

of the questions that I wanted to

49:57

ask you guys is some of the

49:59

people that we had talked to had

50:01

recommended like a life insurance policy with

50:03

a rider. And then some of them

50:05

were like strictly life insurance. And when

50:08

we got thinking about it, some of

50:10

the policies, basically like if you didn't

50:12

use them for long-term health care, you

50:14

had no money at the end of

50:16

the policy you basically paid into it

50:19

but you have nothing yeah you're talking

50:21

about whole life you're talking about yeah

50:23

we're very anti that so run from

50:25

that okay and that's what i wanted

50:27

to ask you because one of them

50:30

one of the policies policies were like

50:32

you could either pay you don't like

50:34

a chunk chunk of like fifty thousand

50:36

dollars right up front no no no

50:38

no don't do that don't do that

50:41

don't know you already know the answer

50:43

to that you shot it in the

50:45

foot as soon as you were telling

50:47

us you were like i get nothing

50:49

out at the end yeah don't do

50:52

that so my last question for me

50:54

is did you run some numbers on

50:56

the cost because i think john brought

50:58

it up and i think it's a

51:01

fun exercise what would it cost you

51:03

to get the long-term health care emergency

51:05

care service emergency care service i mean

51:07

insurance service i mean insurance excuse excuse

51:09

me insurance excuse me insurance excuse me

51:12

insurance excuse me We have not run

51:14

the numbers. I mean, we just, like

51:16

I said, we just started and looked

51:18

into it and we've had a couple

51:20

people quagusts, different numbers. One of them,

51:23

you know, was about five grand a

51:25

year. And then, again, one of them

51:27

said, you know, you could pay a

51:29

lump time of 50 grand and never

51:31

pay again in the rest of your

51:34

life. But then they tried to tell

51:36

us a advantage to that was. No.

51:38

Tim, we keep going back. Tim, stop

51:40

talking about that. We already told you.

51:42

I'm talking about long-term care insurance. Look

51:45

into it. See what the cost is.

51:47

You and your wife sit down and

51:49

talk about it. Let me say this.

51:51

This is not a retirement vehicle. Yeah,

51:53

not at all. This is you hedging

51:56

risk. You don't want a check back

51:58

if you don't use this at the

52:00

end. This is you putting this on

52:02

the table just in case this happens.

52:04

Go to Ramsey Solutions solutions.com. and go

52:07

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52:09

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52:11

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53:22

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53:24

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53:26

statistically speaking, most people haven't filed yet.

53:28

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53:30

to shame you or anything, but just

53:33

know that taxes don't have to be

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53:37

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53:39

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53:44

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53:50

Hey, please, please take two seconds and

53:52

hit the subscribe button, hit that little

53:55

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53:57

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54:01

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54:03

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54:08

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So take a second, subscribe, leave reviews,

54:32

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54:34

makes such a difference for everybody. Thank

54:37

you so much. All right, let's go

54:39

to Rebecca in Chattanooga. How can we

54:41

help today? Hi, thank you so much

54:43

for taking my call today. So I

54:45

am in Baby Step 7. And thanks

54:48

to your program, I'm a baby steps

54:50

millionaire. Nice. And I'm about to, thank

54:52

you. What's your net worth? Well, depending

54:54

on the market, about 2 million. Depending

54:56

on the market. It was 1.1 yesterday,

54:59

2.1 today. I haven't looked in about.

55:01

six weeks. Oh well it's back up

55:03

big time today. Continue that trend. It

55:05

has a lot of ground to gain.

55:07

That's right. My buddy who's my smart

55:10

investor pro texted me and he said

55:12

hey just don't look. And that's good

55:14

for me. No, I'm not looking. I've

55:16

got eight to eight to 13 more

55:18

years of work. So I'm outstanding. Good

55:21

for you. So the reason I'm calling

55:23

today is that I'm about to purchase

55:25

a new vehicle. I'm allowed to do

55:27

as a millionaire. Yes, you are. And

55:29

I'm going to write a check for

55:32

it. And of course, now they're offering

55:34

me a prepaid service package. And I

55:36

know how we feel about extended warranty.

55:38

And I definitely would not get one

55:40

of those. But then when they talked

55:43

about this prepaid service package, I thought,

55:45

of course my antenna goes up and

55:47

I immediately think this is how they're

55:49

going to try to make their money

55:51

off of me. But I just wanted

55:54

to get your take on that. Your

55:56

gut is right. Pass. They're not a

55:58

hard pass. I'd say. No, thanks guys.

56:00

I'm a... And just talk to them about

56:03

how much money you have in the

56:05

bank and that you'll take care of

56:07

your issues with the car when it

56:09

arises. Here's what they'll say. They will

56:11

make you feel so dumb. Like you're

56:14

the dumbest person who ever lived. You're

56:16

a multi-millionaire and they're going to make

56:18

you feel like you're a dumber than

56:20

a box of hair and they're going

56:22

to tell you. But you've got to

56:24

get the oil changed anyway. with your

56:26

last caller and the prepaid life

56:28

insurance I thought hmm that's probably

56:30

a lot like a paid service plan.

56:33

Listen here's the deal I have a

56:35

I love these kinds of things and

56:37

I I think you take a really

56:39

strong stance because John's right they're gonna

56:41

try to talk you in it but if you

56:43

lead out with the flex you know what I've

56:45

worked really hard to be a multi-millionaire

56:47

And I'm good. So I don't need the

56:50

service plan. I just take care of things

56:52

as they come because I've got cash. But

56:54

I do appreciate that your leaders want you

56:56

to give me this option. Just call it

56:59

all out on the table. And that's my

57:01

little pitch there is how I would do

57:03

that. And by the way, that they immediately

57:06

go, oh, Rebecca is not to be played

57:08

with. Here's a similar one. Here's a similar

57:10

one. I bought a new car I think

57:12

two years ago. And the person said, he

57:14

handed me a piece of paper. And it

57:17

said, hey, here's the estimated

57:19

repair costs over the next X

57:21

number of years. You want to buy

57:23

one of these prepaid warranties. And I

57:25

looked up and I said, oh, man,

57:27

my bad. If you're already telling me that this car

57:29

that you're selling me new is going to be broken in

57:31

two years, I'm going to go ahead and walk. And it's

57:33

like, no, no, no, hold on. If you're telling me right

57:35

now that the engine's going to fail and that you think

57:38

this is going to have, like, I need to know that

57:40

now, because I thought I'm buying a new car from a

57:42

reputable place, and it ended immediately. Well played, sir. I like

57:44

that. If you were you go, Rebecca, Rebecca, you got, Rebecca,

57:46

you got some options, you got some options there, you got

57:48

some options there, you got some options there, but the answer,

57:50

but the answer, but the answer, but the answer, but the

57:52

answer, but the answer, but the answer, but the answer, but

57:54

the answer, but the answer, but the answer, She's got

57:56

eight years left, she's a multi-millionaire, she

57:58

clearly knows what she's doing. And if

58:00

you, let's just be honest about

58:02

the math, if you, every three

58:04

months, went to the local dealership

58:06

and you prepaid, you get 2,000

58:08

bucks and you got lifetime free

58:11

oil changes, and they amitarized that

58:13

out over eight years, like if

58:15

you come here, it's gonna pay

58:17

for itself 10 times. A, the

58:19

chance that you still have that

58:21

car in eight years, that somebody

58:23

in your life hasn't had something

58:25

that you gotta hop up and

58:27

move, like there's so many factors.

58:29

over the next eight years, that

58:31

it's just not worth playing the

58:33

gamble, especially when you got two

58:35

million bucks, to say, man, I

58:37

want to get my old change

58:39

where I want, when I want,

58:41

and I'm going to move on.

58:44

Thank you. Love it. Let's go

58:46

to Kristen, who is joining us

58:48

in Phoenix. Kristen, how can we

58:50

help? Hi, thank you so much

58:52

for taking my call. So my

58:54

current situation is I recently turned

58:56

30, I lost my job four

58:58

months ago, and right now I'm

59:00

living with friends, And I'm also

59:02

in $42,000 a day and so

59:04

I've been actively on the hunt

59:06

for a job but I just

59:08

haven't had any luck. So obviously

59:10

it's just been like a really

59:12

dark and heavy place to eat

59:15

because at 30 I literally lost

59:17

everything and I have nothing going

59:19

for me. Not true, not true,

59:21

not true. I'll call that one

59:23

out. The other ones are true,

59:25

but I'll call that one. Okay,

59:27

thank you. Well, in the meantime,

59:29

I've kind of revisited this dream

59:31

that I've had on my heart

59:33

for seven years, for seven years,

59:35

which is to start a non-

59:37

And so I was like, well,

59:39

the market's so bad, I mean,

59:41

just maybe go off to my

59:43

dreams. And so as I've been

59:45

looking for work, I've also been

59:48

taking steps towards a nonprofit and

59:50

I've just been getting green light

59:52

after green light and after green

59:54

light, which doesn't make sense because

59:56

I always thought when I started

59:58

this nonprofit, I would be stable

1:00:00

and 100% out of debt. Well,

1:00:02

this is kind of where I'm

1:00:04

at right now, my dilemma, which

1:00:06

is why I'm calling you, is

1:00:08

I have a And I could

1:00:10

take that $5,000 and it could...

1:00:12

cover my basic needs for about

1:00:14

three months and so do I

1:00:16

use that $5,000 to go into

1:00:19

creation mode and pursue this stream

1:00:21

or do I stay in like

1:00:23

survival mode and wait until like

1:00:25

a matter of debt and yeah

1:00:27

how much is the debt how

1:00:29

much is the debt 42,000 yeah

1:00:31

a couple things I understand that

1:00:33

you're down we have limited time

1:00:35

here so I'm gonna I'm gonna

1:00:37

do less emotional loving on you

1:00:39

and I'm gonna do some financial

1:00:41

loving on you if that's okay

1:00:43

all right so Number one, I

1:00:45

understand that you have not had

1:00:47

the luck that you feel like

1:00:49

you would have liked to have

1:00:52

had getting a job, but you

1:00:54

there are plenty of jobs plural

1:00:56

that you can go get and

1:00:58

it starts today when you hang

1:01:00

up. I don't care if you're

1:01:02

walking dogs. You are delivering pizzas.

1:01:04

You are stocking shells at a

1:01:06

big box store. This is at

1:01:08

this point right now. This is

1:01:10

not about Passion or dreams? The

1:01:12

career or the passion, the dreams

1:01:14

like that. This is fighting to

1:01:16

survive and I don't know how

1:01:18

you've been surviving. And so today

1:01:20

we start fighting. So it's two,

1:01:23

three jobs and we start getting

1:01:25

some momentum while we're looking for

1:01:27

some stability and we keep working

1:01:29

the fact I'm going to give

1:01:31

you a copy of my book,

1:01:33

the proximity principle, and I want

1:01:35

you to read it. We'll give

1:01:37

you whatever format you want. But

1:01:39

you've got to start making progress.

1:01:41

So we work any job that

1:01:43

we can take. three jobs and

1:01:45

we begin to work the debt

1:01:47

snowball. We're also going to get

1:01:49

you, let's see, let's do total

1:01:51

money makeover, we'll give you that

1:01:53

too as well. Financial Peace University,

1:01:56

we're going to load you up.

1:01:58

Christian just give her everything she

1:02:00

needs, all right? You need momentum.

1:02:02

Now here's the deal. I would

1:02:04

not take the $5,000 because that

1:02:06

$5,000, you just say hold that,

1:02:08

there's a day, there's a day

1:02:10

in the future where I'm going

1:02:12

to be able to be able

1:02:14

to take this gift and put

1:02:16

it towards the actual launch. of

1:02:18

the organization. This is not $5,000

1:02:20

to keep you afloat for three

1:02:22

months. That is horrible, horrible idea.

1:02:24

And that's the Kristen, by the

1:02:27

way, that John checked at the

1:02:29

start of the phone call. I

1:02:31

want to give it to John

1:02:33

really quick here to kind of

1:02:35

give you kind of a pep

1:02:37

talk. But right now, that's what

1:02:39

you need to do. Now, John,

1:02:41

I'll tell you what you need

1:02:43

to feel. What you need to

1:02:45

do is don't even think about

1:02:47

this nonprofit right now. Listen, you've

1:02:49

backed yourself into a corner. The

1:02:51

way you phrased it is, do

1:02:53

I just Okay, we're not just

1:02:55

gonna hunker down and look at

1:02:57

the floor and walk around and

1:03:00

we're not and it's not that

1:03:02

or sunshine and rainbows Nonprofits are

1:03:04

really really tough Okay, so here's

1:03:06

what we're gonna do like what

1:03:08

Ken said we're gonna go get

1:03:10

a bunch of tiny winds and

1:03:12

we're gonna make $13 an hour

1:03:14

$11 an hour and we're gonna

1:03:16

keep showing up and then four

1:03:18

months later you're gonna stand six

1:03:20

inches taller You've got this, Kristen.

1:03:22

You've got this. And don't ever

1:03:24

say again that you don't have

1:03:26

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1:04:30

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1:04:32

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1:04:35

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1:04:41

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solutions.com/tour today. Let's go to Jack

1:04:59

in Sacramento, California. Jack, how can

1:05:01

we help you? Hey guys, thanks

1:05:03

for taking my call. I really

1:05:06

appreciate it. So I was wondering

1:05:08

if I should get a consolidation

1:05:10

loan for my father. He has

1:05:12

about 50,000 in debt. It's probably

1:05:14

about 35,000 in credit cards, about

1:05:16

10,000 in a personal loan, and

1:05:18

probably 5,000 on a car. He's

1:05:20

making the minimum payments on all of

1:05:23

his stuff and he's just barely making

1:05:25

it by. So Jack, number one, if

1:05:27

your dad called us and asked us

1:05:30

if he should do a consolidation loan,

1:05:32

we would say no. So we would

1:05:34

definitely tell you not to get involved

1:05:37

in any kind of consolidation loan or

1:05:39

helping your own father out on his

1:05:41

loans. This is a no, no, no,

1:05:44

no, no, with exclamation points. And I

1:05:46

want to say, man, you're a good

1:05:48

son. What's happened to bring you to

1:05:51

this point? Well, I'm kind of almost

1:05:53

worrying about myself because he's getting older.

1:05:55

He's about to turn 65 and... I'm

1:05:57

worried that when he gets to the

1:06:00

point where he can't work anymore, he's

1:06:02

going to just barely be able to

1:06:04

cover his own payments and I'm going

1:06:07

to have to start paying for his,

1:06:09

where he lives and all that type

1:06:11

of stuff. I get that worry. That's

1:06:14

a legitimate concern, a legitimate, you looking

1:06:16

into the crystal ball if things are

1:06:18

going to continue as they have. been

1:06:21

in the past, right? That a trope

1:06:23

that gets thrown around is the best

1:06:25

prediction of future behavior, is past behavior,

1:06:27

right? You see this thing, this slow

1:06:30

moving train coming right at you, right?

1:06:32

Yep. So let me ask you this.

1:06:34

Has your dad ever listened to you?

1:06:37

Well, I'm a pretty new listener. No,

1:06:39

no, no, no. Has your dad ever

1:06:41

listened to you? Yeah. I would say

1:06:44

yeah, he thinks I I think he

1:06:46

definitely respects my opinion. Okay, so if

1:06:48

you sat down in Sadado, love you,

1:06:51

here's what I see coming in your

1:06:53

life, you've got to get a job.

1:06:55

Or you got to get a second

1:06:58

job. Like we've got to make some

1:07:00

changes here. What would he say to

1:07:02

you? I mean, that would definitely be...

1:07:04

be tough just you know him being

1:07:07

an older older guy it is but

1:07:09

hey we're playing big boy money if

1:07:11

you're ready to put $50,000 down or

1:07:14

you're ready to co-sign on a loan

1:07:16

with a guy that has a like

1:07:18

a history of not paying stuff back

1:07:21

like then you're ready to do big

1:07:23

boy stuff what stops you from having

1:07:25

that what I would call a more

1:07:28

honest because here's what you know and

1:07:30

I know this but you especially know

1:07:32

this you're gonna get this consolidation loan

1:07:34

you're gonna get this consolidation loan you're

1:07:37

going to have changed in his life

1:07:40

Yeah, except for how much he

1:07:42

would have to pay, at least

1:07:44

that's what I think. Oh, the

1:07:46

amount of money he's going to

1:07:48

have to pay is still going

1:07:50

to be there. Well, yeah, so

1:07:53

I have kind of talked to

1:07:55

him about it, about all this

1:07:57

stuff, and we've talked with each

1:07:59

other about how we could try

1:08:01

and figure it out. You know,

1:08:03

he knows he needs to make

1:08:06

a lifestyle change. He's definitely living

1:08:08

above his means. Yeah, let's pause

1:08:10

there. Hold on. Let's pause. No,

1:08:12

no, no, no, no. I'm jumping

1:08:14

in here because you're still trying

1:08:16

to talk us into this and

1:08:19

that's not going to happen. And

1:08:21

I get what you're trying to

1:08:23

do. I think John's right. You

1:08:25

got a great heart, but you

1:08:27

called and said, what should we

1:08:29

do here? You just said dad's

1:08:32

living above his living above his

1:08:34

means. So he's a real estate

1:08:36

agent. He probably makes about 40,000

1:08:38

a year. And he took his

1:08:40

Social Security early, which ended up

1:08:42

backfiring a little bit, because then

1:08:45

after he took that, he made

1:08:47

too much income to where now

1:08:49

they're basically taking those Social Security

1:08:51

payments back. They're not paying him.

1:08:53

What's his total debt burden again?

1:08:56

50,000. Okay, so a real estate agent

1:08:58

and he's been doing it long enough

1:09:00

to know how to sell houses. True,

1:09:02

true. All right, so dad needs urgency

1:09:04

and I'll leave it to my colleague

1:09:07

here as to what you can and

1:09:09

can do when it comes to that

1:09:11

and I don't think it's much, but

1:09:13

I do agree with John that you've

1:09:15

got to have an honest conversation with

1:09:17

dad, but it's in the form of

1:09:19

truth serum to say. $50,000 in debt,

1:09:21

dad, in the grand scheme of things

1:09:23

is not a lot for somebody who

1:09:25

can sell some houses and knock that

1:09:27

out pretty quick. But there's something going

1:09:29

on with him for a lack of

1:09:31

urgency. The fact that he's being irresponsible,

1:09:33

again, not your problems to fix. But

1:09:36

I think this has got to be

1:09:38

a... a real honest but very respectful

1:09:40

conversation and if he will listen to

1:09:42

you you can show him our plan

1:09:44

and say hey I've started listening these

1:09:46

Ramsey folks and here's the debt snowball

1:09:48

and I'll help you with the budget

1:09:50

I'll lean in every way I can

1:09:52

pop but you got to make these

1:09:54

changes or else I'm going to get

1:09:56

stuck with this and I don't want

1:09:58

to get stuck with this. Here's what

1:10:00

we're going to give you, Jack. I'm

1:10:02

going to hook you up with two

1:10:05

different codes so that you can watch

1:10:07

all nine of the Financial Peace University

1:10:09

lessons digitally and you can send him

1:10:11

one, he can watch it on his

1:10:13

own. Okay, I'm going to send you

1:10:15

that. But here's something important that I

1:10:17

want you to hear me say. What

1:10:19

you are trying to do is respectable

1:10:21

and loving. You've got ulterior motives like

1:10:23

we all do you don't want to

1:10:25

get stuck with this down the road,

1:10:27

right? But you also You've been watching

1:10:29

your dad hurt for a while fair

1:10:31

Fair okay this will end with the

1:10:34

destruction of your relationship with your father.

1:10:36

Yep And here's why when you co-sign

1:10:38

on a loan with your dad. It's

1:10:40

the same thing I tell parents to

1:10:42

not co-sign on student loans if you

1:10:44

can't afford it you can't afford it,

1:10:46

but what you end up doing is

1:10:48

you put a transaction between two people

1:10:50

that should be right or die together,

1:10:52

a father and a son. And it's

1:10:54

going to come a moment when he

1:10:56

doesn't come through in a certain month

1:10:58

and he can't make that payment and

1:11:00

you're going to get the bill and

1:11:02

here's what's going to happen. You're going

1:11:05

to get enraged as you should and

1:11:07

then you're going to begin to resent

1:11:09

him and by putting a bank between

1:11:11

the two of you, you're setting up

1:11:13

your relationship for failure. So saying dad

1:11:15

I love you, I just ran into

1:11:17

these guys, this thing's amazing. Because here's

1:11:19

what your dad needs to do. If

1:11:21

he's only making 40 grand as a

1:11:23

real estate agent, he's gotta go to

1:11:25

Walmart and start throwing boxes. He has

1:11:27

got to go sit in a drive-through

1:11:29

from 8 p.m. until 2 a.m.m. serving

1:11:31

like coffee or takeout or whatever, he's

1:11:34

got to go make some more money.

1:11:36

And by the way, he can do

1:11:38

that doing quote-unquote less sophisticated, Yeah, he

1:11:40

does not have to sell a lot

1:11:42

of houses to pay off this $50,000.

1:11:44

and debt and the 40 grand, he's

1:11:46

barely doing anything at all. So this

1:11:48

is a tough situation. He may have

1:11:50

to sell a car or two. He

1:11:52

may have to sell a house and

1:11:54

move down to a condo. He's got

1:11:56

to make some grown-up dad decisions. But

1:11:58

dude, I want to honor your heart,

1:12:00

man. And I know you see this

1:12:03

thing coming and you're already doing the

1:12:05

math being like, I'm going to have

1:12:07

to pay for this. But I get

1:12:09

it. It's tough, tough, tough. I want

1:12:11

to get it. Question. Question. Question of

1:12:13

the day. Which is the day. Why.

1:12:15

Why. Why. Why refi. Why refi. Why

1:12:17

refi. Why refi. Why refi. They do

1:12:19

it with a low fixed rate for

1:12:21

less stress. Go to yrefi.com/Ramsey. That's the

1:12:23

letter y.refy.com/Ramsey. It may not be available

1:12:25

in all states. Today's question comes from

1:12:27

Madison in Kansas. Madison writes, I'm married,

1:12:29

I love my husband, but we have

1:12:32

made bad decisions over the last 20

1:12:34

years. We're looking at $125,000 in debt

1:12:36

not including our mortgage. Together we earn

1:12:38

$150 a year. He's not interested in

1:12:40

looking at our financial situation, but at

1:12:42

least he let me handle our finances.

1:12:44

Oh my gosh Yeah, I don't want

1:12:46

to talk about it, but I'll let

1:12:48

you carry this anchor around all by

1:12:50

yourself Is it possible to become debt-free

1:12:52

without your spouse being on board? Like

1:12:54

here we go I feel like a

1:12:56

gazelle with an anchor Well, that's a

1:12:58

clothed in a financial question, Mathematically, theoretically,

1:13:01

I guess, if he just quit spending

1:13:03

money, so that's just me being honest.

1:13:05

If he assumes, if he truly does

1:13:07

let her do the plan. If he

1:13:09

stops spending one penny and you took

1:13:11

full control, theoretically, mathematically, yes, it'll burn

1:13:13

your marriage to the ground. I think

1:13:15

this is a situation, Madison, where you

1:13:17

set your husband, y'all sit down for

1:13:19

dinner, you sit down for breakfast somewhere,

1:13:21

you sit down for lunch somewhere, not

1:13:23

when you're fighting time to do a

1:13:25

budget, to do a budget, and you

1:13:27

say, and you say, I am scared

1:13:29

to do a budget, I am scared

1:13:32

to do a budget, I am scared

1:13:34

to death. And people give me a

1:13:36

hard time on air, I mean on

1:13:38

the internet, about saying this line I'm

1:13:40

about to say, but I think it

1:13:42

applies here. Husband, I can't breathe. I

1:13:44

don't feel safe in this house when

1:13:46

it comes to our money, and I

1:13:48

can't keep carrying all this by myself.

1:13:50

Will you look at this with me?

1:13:52

And if you looks at you and

1:13:54

says, nope, don't care, then Madison, you

1:13:56

got bigger issues in your... in your

1:13:58

marriage because it's not about money it's

1:14:01

about your husband saying i don't care

1:14:03

how safe you feel or not it's

1:14:05

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Ramsey solutions.com/Smart Tax. Terence is

1:15:41

up. in Atlanta. Terrace, how

1:15:43

can we help today? How

1:15:45

you doing, sir? I have

1:15:48

a $1,200 car note. Oh

1:15:50

my goodness! Where's my thumbs

1:15:52

at? What is it? It's

1:15:54

a G-2-2-2 finger. A what?

1:15:56

A-S- Did you say, IKEA?

1:15:58

Stinger. A-stinger. A-stinger. not heard

1:16:00

of this model. Terrence. How

1:16:02

much of that set you? And I,

1:16:04

it was around like 60,000. I had,

1:16:06

I had, I had a, another car

1:16:08

to add on to. No, you did.

1:16:11

Did you get a negative equity into

1:16:13

it? Yes. And I needed something reliable

1:16:16

because I traveled back and forth

1:16:18

to Tennessee to see my kids.

1:16:20

Bro, you did not, a reliable

1:16:22

would have been a 10,000 dollar

1:16:24

camera. You bought a stinger, dude.

1:16:26

Yeah. Yes. Yes, I bought a finger

1:16:28

and the bad decision. We love you,

1:16:30

we're just having fun with you. I

1:16:33

know the bad. If I listen to

1:16:35

the show, I knew it was a

1:16:37

bad decision. So how can

1:16:39

we help? Well, I have that and

1:16:41

I also have $2,000 a month

1:16:43

child support. I was trying to

1:16:45

figure out how can I get

1:16:47

rid of the stinger. So, so every,

1:16:49

the first of every month

1:16:51

you open your eyes and

1:16:53

you're already 3200 down. Yes,

1:16:56

I make $10,000 a month,

1:16:58

well $125,000 a year, without overtime.

1:17:00

Is that the only debt

1:17:02

you have is the car?

1:17:05

Yes, I paid off, I

1:17:07

started a little too today,

1:17:09

Ramsey, a couple years ago,

1:17:11

then last... So I pay it off

1:17:13

on my credit card. Okay. So how much?

1:17:16

Let's walk through this. Okay, go ahead. I

1:17:18

do have one credit card that I would

1:17:20

use only to go in the sky club

1:17:22

and get a run a car. And that

1:17:25

was another question that I had to ask

1:17:27

you all about that too. What do you

1:17:29

do about when you need a run a

1:17:31

car? Do I just use my debit card?

1:17:34

Yeah, that's what I use. That's what John

1:17:36

and I do is use a debit card.

1:17:38

You don't need the credit cards. It's cut

1:17:40

the credit card up because it's going to

1:17:43

remove the temptation. But let's dive

1:17:45

into this car real quick. Okay.

1:17:47

Let's because we've got negative equity.

1:17:49

So what you owe a total

1:17:51

of how much? I will like

1:17:53

$57,000. And what is the stinger

1:17:55

worth if you sold it private

1:17:57

seller today? Probably $30,000. Oh

1:18:00

boy, that's a bath. That is

1:18:02

a bath right there. Yeah, because

1:18:04

the thing was, I didn't mind,

1:18:06

I don't mind paying for it,

1:18:09

but by the time I, you

1:18:11

know, give around the paying bills

1:18:13

and I see that $1,100 note,

1:18:15

I'm like, woo. No, I get

1:18:18

that. Listen, I have indigestion and

1:18:20

it's not even my payment. I've

1:18:22

got hymnroids now. Our bodies are

1:18:24

falling apart on your behalf, Terrence.

1:18:27

Oh boy. I can explain the

1:18:29

first one, I can't explain the

1:18:31

second one. I can't either. I

1:18:33

don't know how that works, just

1:18:36

my inside's one out. Okay, so

1:18:38

let's walking through this here, John,

1:18:40

so see, the 57K also involves

1:18:42

the negative equity, correct? Yeah, all

1:18:45

right, so I had the car

1:18:47

for two years now. Right, how

1:18:49

much so you make you have

1:18:51

$2,000 a month in child support

1:18:54

you bring home $10,000 after tax

1:18:56

No, that's before taxes. All right,

1:18:58

so what's your actual bring home?

1:19:00

What's your bring home? What's your

1:19:03

bring home? I bring home like

1:19:05

$5, $5,200. 5200 at the child

1:19:07

support. Oh, okay, good. So what

1:19:09

I'm trying to get at is

1:19:12

how much, John, I want to

1:19:14

get to quickly, how much could

1:19:16

you, how much could you, if

1:19:18

you just pay the bills, just

1:19:21

your basic bills and your child

1:19:23

support and this car payment, how

1:19:25

much money left over do you

1:19:27

have that we could put towards

1:19:30

saving to get a, I'm thinking

1:19:32

about a. $10,000 car or something

1:19:34

that's dependable, maybe $7,500. If I

1:19:36

find myself a higher mile Honda

1:19:39

or Toyota, that'll get you back

1:19:41

and forth to Tennessee. How much

1:19:43

money could you put away each

1:19:45

month right now? I could probably

1:19:48

pull away probably $1,400 a month.

1:19:50

Because after each check, I'm rolling

1:19:52

around $1,300 after everything. Okay, so

1:19:54

I what I'd like to see

1:19:57

him do John is I'd like

1:19:59

to see him save as much

1:20:01

money. Let's get a five to

1:20:03

six $7,000 car and let's sell

1:20:06

this stinger and now we're at

1:20:08

least you know we're now working

1:20:10

on 30,000? I don't know, 27,000

1:20:12

roughly is what we're working on.

1:20:15

Here's the other side of that

1:20:17

if you take that $1,200 month

1:20:19

payment you take that $1,300 extra

1:20:21

and you go through your budget

1:20:24

with a magnifying glass and you

1:20:26

stop going out for a season

1:20:28

and let's say you can scrounge

1:20:30

up three thousand bucks that includes

1:20:33

this twelve hundred dollars you can

1:20:35

pay this thing off okay chicken

1:20:37

salad sandwiches like I've really just

1:20:39

tried being I've really cut back

1:20:42

just to figure out was it

1:20:44

me or was it just a

1:20:46

lifestyle or anything and everybody's been

1:20:49

looking at me crazy like hey

1:20:51

you want to go I'm like

1:20:53

nope good you're good can go

1:20:55

to where when I got big

1:20:58

to pay you know so a

1:21:00

thing a principle that we live

1:21:02

by here is things with wheels

1:21:04

should not cost more than 50%

1:21:07

of your income So you're

1:21:09

right there on the bubble here. So if

1:21:11

you want to just to suck it up

1:21:13

for 20 months and throw $3,000 a month

1:21:16

at this, you could. Or like Ken said,

1:21:18

you're going to throw, you're going to suck

1:21:20

it up for 10 months, throw $3,000 a

1:21:22

month, and get that 30 down to where

1:21:25

it's just bottoming out, and then you can

1:21:27

try to sell it on the market. Yeah,

1:21:29

but that's another option. I gave you what

1:21:32

I like what? Yeah, I want to get

1:21:34

rid of it man, because before I got

1:21:36

this finger, I was driving a two thousand

1:21:38

twirl Buick lacrosse, which I didn't have no

1:21:41

problem. Dude, that's a car. Dude, listen, Terrace,

1:21:43

I think very few guys could pull off

1:21:45

a Buick lacrosse like you could. I just

1:21:48

got a sense you got enough sweat. Well,

1:21:50

tell me that you weren't being... No, no,

1:21:52

no. I've seen their traffic and got hit

1:21:54

by a phone call. Oh man. What's a

1:21:57

decent Buick lacrosse going to set you back?

1:21:59

Probably that, well I bought that when in

1:22:01

2018 for 10 grand. When I went to

1:22:04

looking after the red, they went up to

1:22:06

like 16,000. Yeah, they're pretty, they're, yeah, listen,

1:22:08

I'm going to challenge you to get a

1:22:10

somewhere, try 7500. I think you get something

1:22:13

dependable, you know, a car that's a car

1:22:15

maker that's very dependable, you know the ones

1:22:17

that just, they're going to run forever, I'd

1:22:20

take my chances on that, I'd do less

1:22:22

cash right now because you've got to get

1:22:24

out of this deal. And here's the words

1:22:26

we use, Terrence, this isn't an accusation, this

1:22:29

is us having some fun, but you're going

1:22:31

to pay about $30,000 in stupid tax. Stupid

1:22:33

tax. Or when you're making an online payment,

1:22:36

just put stupid tax. And by the time

1:22:38

this 10 months is up and you've thrown

1:22:40

$3,000 a month and you haven't been on

1:22:42

a date, you haven't been to a restaurant,

1:22:45

you haven't seen a concert, you're gonna be,

1:22:47

you will never do this again. Never. I

1:22:49

won the ones that learn real fast. Well

1:22:52

you were kind of with us last time

1:22:54

and then you bought money again. Are we

1:22:56

done done? I'm done. Good. That's amazing. I'm

1:22:58

done because I got a I got a

1:23:01

daughter about to go to college so I

1:23:03

want to put I want to have the

1:23:05

money I have the mistake I did the

1:23:08

baby steps so I cut the credit cards

1:23:10

all. I love it. Well this is super

1:23:12

intense. You got to be super intense to

1:23:14

do that three grand a month you can

1:23:17

do it you got overtime options what you

1:23:19

let that slip out you let that slip

1:23:21

out so I'd be getting overtime I'd be

1:23:24

working weekends and to John's point if we

1:23:26

can sock three thousand at a minimum away

1:23:28

towards this. The 27 get yourself another Buick

1:23:30

my man and people are gonna watch you

1:23:33

work like crazy over the next 10 months

1:23:35

to a year and they're gonna think you're

1:23:37

going to roll in

1:23:40

there with there with a G3

1:23:42

or a G wagon? Listen, you're gonna roll

1:23:44

in to roll in

1:23:46

with Let him know I'm opting out of

1:23:49

the game Let him know

1:23:51

out of the game.

1:23:53

a And I solve

1:23:56

for peace, not for

1:23:58

a cool, shiny, depreciating

1:24:00

asset. it he But I

1:24:02

mean, he likes it.

1:24:05

He likes can find I

1:24:07

think he can find

1:24:09

himself a nice lacrosse. a

1:24:12

guy who is in

1:24:14

on a Buick lacrosse,

1:24:16

that's marriage material right

1:24:18

there. is. There it is.