Why would I have quarters of Ramsay Solution Broadcasting, but all our real studios? It's that day, rambling? What that is, dont use, gang and paid off home market has taken place in the Bmw programme for your host Chris Open, Remsen personality is my co host today here on the air open phones, a triple eight, eight to five five, two to five: that's cripple eight eight to five five to two

five Leon in Minneapolis Starch, the shower off. I learn how congressional hiding anything we're taking my car show my dad castaway unexpectedly about six months ago Shan, thank you. I am sure my mom were just starting the process of setting up their trust and for nothing has been finalized or written down, mostly just finding their estate and state lawyer, and I M talking about things I'm trying to help help my mom I'm figure out what to do now and she's got free. My ass, she lived on my God, my God inherited a faintly form. I'm there are three of us. In the end, I gotta really wanted to ensure that the family farm stated in his family name. So

I am one of three like I said, and I have a sister and brother, so it is intended that my father walked in here. The farm am but my girls, which is also that upon my mom staff, that the kids trying to put the acid equally financially- I guess I'm- and so they had talked about- saw em. They have, they have to work, a grudge that they went out every year and it brings in approximately thirty thousand dollars and the farm at a small farm valued at around a million dollars the idea was the country that my sister and I would put the farm rinsed for about twenty years and then at that point everything would become my brother. My only made my husband have a concern of being in a financial agreement siblings,

for that long and was hoping there would be a better a one time solution might be there is not in a position to financially Eagle eye out I say my sister and I at around six hundred thousand dollars and so urgent ring if you have any advice on and how we could perform a dab wishes, Ok, so your mind, your mama's old man. Seventy how's, your health, very good. and so there's a million dollars worth of dirt, and that's it there's no other money. There is the problem Currently a hundred thousand dollars, maybe look a stronger and your mom is the owner of all of the sudden crack.

really all we're trying to determine here is how to set your mom's will up correct, ochre megatherium clear on what you're asking and so how do we get your broke brother? six hundred grand a buy out you in your other scheveling right. Yes, yes, very difficult. We, yes, we did have a financial person suggests that my brother take out six hundred thousand dollar life insurance policy, gondola Dodge Oil, If he done my mom you're. Not by that and that's a wonderful idea. If you can get terms life insurance on your mom for seventy Russia, years older she healthy, she's, healthy ass. It came out to you that the quote came up to seventeen thousand dollars a year, which is, if not affordable. My mother was unaffordable for anybody in this deal with no money in the steel shut, the door shut.

Well, I mean, obviously your brother could farm the land and go get a mortgage to buy out his siblings, and so what I would do it shut the will up to say You know for the first x number of years and he farms the land and gives you the process. It gives you a mortgage, the equivalent of a mortgage payment and then he asked get a new mortgage to take you guys out at the end of whatever number years, three years, five years, ten years whatever, but I'm with your husband that in perpetuation this is a bad idea. Yeah kindly and unfortunately there is not a quick fix, diverse meaning. You know your brother can't just go get six hundred thousand, so you all are connected as far as this property is concerned for the foreseeable future, shall really your party like three hundred grand and as

days, values, anyone crack and your household income is what my household income about. Eighty look: I don't build Europe financial world on getting this three hundred grand I don't think that we are going to stir without stating state and that neither one of us doing that and that alone Well, you know lots of patients to let us unfold, so the property does not your brother and end up losing the property trying to make happy because you write about your world on there's three hundred men very difficult to get so you're thinking Let him because he would not farm the land he's not Oppenheimer thought. Let him have the rents and then He got a mortgage. Why is, if he's not a farmer was ignorant, may end up with a land spin and at once so he'll live on the farm. There's a home tat bear am there's a hunting land. There is the it's just What is this all? What is his income.

I wouldn't say around sixty, maybe so he needs down a million dollar farm as a gentleman farmer. Why? except that we want in family animals, so my making sixty owns a million dollar farm. Well, it's it's a century farm. Then in our fame right get I'm talking about. He can afford this farm. Well, you guys had his own property. Land afterward arm Are you here and Dave. A guy like you certainly cannot afford a million dollar hobby farm, but can we afford you in here He didn't inherited the only I heard and one third of it right you skip and forward. So what's it what's his what's his other property worth wanted, it probably went through good lad The news is that by you guys out, you give him a discount and he

and gets a small mortgage now can we three hundred more and a sells property for three undertones, three and short, and you guys get The scandal that three hundred, because you're not going to try to keep it in the family, and so each of you take a hundred in addition to his land and he goes and gets I was not a mortgage making sixty. He can do that. yeah lonely and sign up for six hundred thousand on mortgage. And you know you can't look at the bank when you can't pay the bill and go, but it's a century. The bank, why re and shall we camp him campaign him into the corner? They listen, there's a whole lot of talk and a whole lot of planets, but nothing written down. That's the dangerous situations like the Vatican, it all right! Now you have to ask how far the whale part of green Everybody's got to understand, and you have a reading of the will was going to get all this out. Open phones AAA eight to five five, two to five.

if you Google during a normal you're to pay for that time share our big of a burden. Is it now get out of it called timeshare exit team when the timeshare turn drew down. Timeshare exit team will go too bad for you and get this when you hire timeshare exiting before the end of the month. They'll give you a huge savings for paying by Czech or Ach Otto Draft call eight. before nine nine, nine exit or timeshare exit team dotcom. Some explosion, supply she site for details

Probably version attic, Rochelle Gunmakers, Michael O today, you're on the air, open phones, AAA eight to five five two to five john- is weathers in Philadelphia. I John welcome rooms you sure, every day in Europe too, What's up a kind of a simple question for you today on twenty two, I have no credit. I was wondering if it was good as it begins to get a small amount of credit say three hundred bucks, or so I was on secure death for credit worthiness. I guess. You won't be worthy to borrow money in going down

Well, that's credit worthiness right! Ok, look. Why did know be good. My data we need. That is an important thing and I started watching your show up months back and I'm starting to realise. Maybe maybe on such an important thing. Announcer redraw, not only your twenty two and you don't have any. Why don't you have it? I don't know I just never started well about. a blessing in disguise. My friend he s all right. That's wonderful had the ear that so here's the thing, the you're right, the culture, including your dad, everybody says you need credit, because every body has been told by the banking industry for seventy five years that the best way to become prosperous is borrow to buy the stuff. You want her right, and so it's been come culturally accepted that that's the way to go over. That's abyla goods sold to us by a villain known as the bank because it get large tower

and our skylines and they all a bite names on it, didn't build a large tower in your living room, because all your living room money from your dad went to that bank and share the borrower, slaves. The lender is a very real thing and what we have discovered is the shortest least risk path to wealth is to not have any payments, and then the question always comes up or down. I need to get some payments so that I have credit. Why so that I can get some payments so that I've credit why

so I can get some payments so that I've credit and dad why man, so that the point being that we tell folks to stay out of that, because the shortest path to wealth us what it comes down to you and you already discovered that watching videos right yet- and I understand counter cultural. But if you look around the culture people are broke exactly yet and John. Let me let you in on this. I was worked in the industry. The banking world were about twelve years and did understand. Really the vehicles go until I join Dave's team and the vital score measures? How much did you have the type of debt? You have the likelihood that they'll give you more debt and how you ve paid debt. It there's a theme there. And that is not a matter of how wealthy you are. How will you do it? It's how you doing with debt? So no sir,

only to bring on any dead in your life. I love the fact that you have avoided it at twenty two and wondering can you to you to avoid like the plague like the plague, there is nothing positive, that's gonna come from it and I promise you, your mailboxes gonna start to get some offers Europe. Start to see it and be more aware of it and You too have that mindset ready as soon as you let your guard down. That's when stupid creep in stupid. Well, sneak up on you. Yes, Anthony using Kansas City High Anthony Welcome room. She showed great. How can I help. I have about a half million dollars. My checking account and I have had a dinner for a couple of years, I'm trying to figure out exactly what to do with it. My plan was to use it for real estate, but the real estate markets got me a little spooked right now. While one point eleven o clock,

sure close to a college, town and the market there they so many brand new complexes in Alaska ten year nobody's going to college. Ok, I'm with exactly that they were all right, they're going down. You know little bit leary at that time, you ill I'm Manhattan, candles, yeah, ok, Yeah flavour, far enough away from Kansas City that you're, probably not investing in Kansas City, Grant Grech we hold or you I'm forty five. Ok, you have done a great job are you planning to stay on Manhattan? That depends doubtless we need to have a hobby farm. I'm an electrical contractor by trade, but much my real estate.

I I'm a couple and properties too bad about a million and a half and real estate. That's all paid for a hundred thousand in cash. Five hundred thousand Emma checking four hundred thousand and other assets like crack, loaders and tractors. Stood well done, so proud of you gonna feel good. man I mean you really get it. Assuming that it all, I am assuming you did all the starting from nothing I'd love to hear it had nothing more to go. What here's? What I would do if I woke up in your shoes- and I found myself in similar situations from time to time- I'm between realist deals and I need access to the cash when I get ready to do the next real estate deal. That's where I found myself. It's where you find yourself cause you're, not gonna, drop that half million in Manhattan. You ve made that decision. You, I'm not gonna, recommend. If you listen to me for more than twenty minutes, you know there stood be a long distance landlord and show what I'm ready,

Don't you just parking, there's probably unlike in essence, be five hundred. You know no load fond, there's no commissions and just ride the market with a little bit, while I'm waiting to decide what I'm gonna do and one of two things will happen. one of three things will happen. You decide to stay in Manhattan and the market get soft as you predict, so you will not pull that money out in buying Manhattan, so you're probably gonna turn and invested in some other vehicle for probably some mutual funds or something number. thing that could happen. Is you move and living in whatever Kansas City, and you got a great market to invest in then you pull the money up and you invest it. Then. What was the third thing that could happen? The third thing could happen would be Manhattan, bounced back other the college market, back up and you feel good about investing in Manhattan again. Pour the money. Other action p and invest so your parking it.

Till something else. Moves another variable moves in this situation, but checking accounts, not ok,. Yeah I realise that it's been, but either heart is gonna fly them, having found were an option? thereby gives reaching out blowing up your phone with all their DE as in thought and helpful here in our everyday lives there drowsed line, there's a ha ha. grassdale somnolent there's a fourth option. You may begin to look at something that gets to be on. Sale where you got some one that has the sale or is look SL, and now you ve put yourself in a situation to start to have some conversations about potentially buying products that could happen as the market he Otis in Manhattan, that's right that somebody couldn't quite sure

the tone and it's making an upward turning you're comfortable, whether that could result in a really good for a great deal at such a very, very good point: Doktor John Loneliness, one of his three thirty two degrees, God he's got more degrees than a thermometer is in higher ed and Haste talked about with you and I and a bunch of us behind the scenes and even somewhat on the air the to the extent that, because of the student, learn the bottle and because covert sinner by home and they realized. These colleges are turning Georgia just as much at home, get like the college experience Any heavy on the Wall share right at my house showed tat those two things hitting together are accelerating PETE The demand for college agrees on campus living college degrees. There. Tolerating that demand. Dropping right then draw

being we stood alone. The covert thing is pushed it over the edge there shall we, are seeing some things like he's, describing a college town like men have, which is what Kansas State right, graphics state and so in overseeing shortly smaller towns, where the economies but our resolutions, that's rose affecting their economies, really is a lot of those around America. This is that ever amnesia

Resolving Ramsay personality is my co host today, here home the Dave Ramsay show at the beginning of this year. Buying your first home may have been one of your top goals. Twenty twenty did not exactly shape out the way we all expected did it turned into a dumpster fire. If your plans got sidetracked but homeownership still the right move, you may want to talk to a real high quality, real estate agent lot of areas, real stays doing very well as more effective point out straight. A booming and you need somebody in your corner, tailed guide you, so you don't get like emotional and pay too much or get ripped off in sub gun over bidding situation or something like that go to divert amply dot com slice agent find a trusted agent, an agent that we recommend endorsed local provider for your real estate day room.

Calm, slash agent Ethan is in Detroit. I even welcomed the diver amnesia higher hurried on great man. How can we help? I work? an automotive maker manufacture. I'm an engineer there and one of the companies hurts or benefits- I guess, but there her is ay and poorly leaf option right. So I can get out of here Oh, that's a one year leave Europe, a month and milder what insurance included and repairs, Watchmen repairs and Maya. ever larger included. Everything's included yeah empire working there. I was pay around two hundred, an insurance does alone, the other an I'm the best so my current payment

around five thirsty- and I should buy my wife and on the programme recently and debating a sexy them were referred to carry them the flower families, the lease on your employer on your employer deal. Yeah, ok, you're, drown him you're, driving a nice car, the others talk about you, you didn't take even take the cheaper chicken. You got the big! Well, listen! Now, who us forward Argentina, Outset Chrysler! Ok, what I've looked at serve these Nissan. As here in our neighbourhood, I've looked at the Ford. One have looked at the GM when I dont know. The questioner went off the top of my head, but most of these have nothing to do with a traditional card or lease. It's an employee benefit programme. Your basically got a car completely furnished. My

how's everything insurance everything's built in five fifty. You can't touch that truck for that. That truck goes down five hundred fifty dollars a month in value if you owned it yoga You got insurance and maintenance and gas normally gas Dante and summum- that's one dozen Nokia by this got over the main included, all mine, so cornering just take it in so this is not at this point. Benefit is not like typical, led, not your evil car least program right that the other side of your company shelf. But this is a great pity. For you, even when you drive- and I remember its around, where we thought you were, thought because that that gum- usually not five, fifty it usually like three hundred and one I'm round these things. But you got a driver of arrogance.

those nor truck ass, a thing so good for you. You cannot touch that truck for that kind. It's six grand a year and everything's turnkey. I have work there. I will do that deal. This is not a finance plan. This is not a lease. This is a simple employed benefit and it is a killer. Employ benefit. Do it, I guess we're. Can debate. It is so my wife does honour to share their wrangler, and I wonder if it's worth I have two vehicles alma or try to get something cheaper metropolis again, you cannot operate a vehicle for three times. What you're paying? Ok, I think about it. At insurance, maintenance, depreciation, in value right, girl put those too numbers in the calculator. Do the truck you're driving it take fifteen hunt Fourteen allows a month to replace it hooker because stood

things going down in value more than your paying a month, not counting the maintenance and the insurance. And the sanctuary for her, I did not like the other question is, can you afford our? Are you? Are you bite off to bed? by the apple. Here is your sold income support these payments, but the bottom line of you if they support these payments and you gotta go others vehicle. You're gonna have three x in the vehicle what you're paying okra. So it's a great Those many measures need to do as long You can handle the cash flow out of her income, which is also what a situation like this date, if you were to leave that, but if you just turning in the vehicle, yet you lost your austrian play benefit, you lost it. Ok, neither any- and you do need to flip at every year, whereas there there flippin these things out that not a small percentage of the total production go into the employees rights. But the Nissan plan is very similar.

Down here: the road from us. The the Ford plan is very similar. I've seen those aunt Bmw each other. I dream of data, got one. That's pretty show more to the gas over in South Carolina, Listen to us over there, the Beemer plant. I got the same. Option and Robin Stinkin Beemer for a third, a fourth of what it would cost you anyone else to buy it outside of that implement, analysed and everybody up there. That's Listenin real, quick, we're talking about an employee benefit programme, not naturally not Elise yeah. I dont want don't don't blow up man box, but this it's an employ benefit plan, which is why people are able to do that. So it's part of their recruiting. It's part of the benefits that are given to their team members have just Would clarify that in his case on that limits worth of that hit, the employee benefit. value to him, is around a thousand dollars a month because it be fifteen hundred to replace what he's doing for five hundred.

yeah he's talk payment without a shadow of a doubt such another. Twelve thousand already in income are effectively, is Binny package's, adding another two thousand. You're too is value again, assuming you can support that leveller track what your income? We did not ask his household income. I got sidetracked on that, but, as Chris said, it's very, very, very smart, to say out loud we not saying it's. Ok, LISA car. This is not leasing com. This is renting from your employee. Employer has a If that's all it is, they call it a one year least, but you can turn it in time. You want right and only hold you to that on. These things is very, very good program, open phones, a triple eight, eight to five five, two to five stevens and to sign a Stephen. What's up, I think that it might go

How can we on my my life- and I note that on babies that number six and was trying to help the morbid yo than about five years? We have about two years work on that we're doing that by paying an extra two thousand a month However, we can adapt, though we welcomed our first child and I began saving for college, but God, but my my Can I talk about baby steps eyes and at the same time, by reducing that extra mortgage payment, around sixteen hundred, but four hundred and outstanding or our for love and six all simultaneously. You dont for right, you're, doing baby steps for Rhine wordy, yeah yeah we were were complete, baby, I'm more still doing baby supporting up and simultaneously putting every month you're putting fifteen percent of your income right now. I don't know

Mr Retirement, or am I right that you're not only retirement? Ok, Chris, take a personal now you're doing it, buddy you're doing it, and you could even back that down to three hundred a month in this far savings knowledge and keep track in an attack in the house and think about it in five, is the mortgages paid off. You can decide to step up or you made it does add to your family either way, but does Stephen now forefathers Six, there done all at the same time a great job yeah, you don't really good job. Your pay, an attention here, listening to what were teaching in your doing it you're gonna end as a result, the success when their products and by the way, folks, once you get passed by, we step three you're out of that. If your merchants she found him place, one two and three you do, she can shake four five and six. You do I simultaneously, but you also let your foot off the gas and you're, not quite as Gazelle intense, it's not just beans and rice, rice and beans. You can actually get a steak.

Why you're in Vigo, in the restaurant breathing or in the rest of you, I am not the wash the this is, but the EU not only are we gonna do this? Is the diver amnesia Chris Hogan Ramsey personality is my co host today here on the air, open phones at eight hundred and eighty eight, eight hundred and twenty five five thousand two hundred and twenty five that's eight hundred and eighty eight eight thousand two hundred and fifty five.

Two five, Cathy, is whether some Minneapolis High Cathy welcome that I've Ramsay. Thank you so much both are doing well, we are. How can we help, though my question who is I'm at the end of the divorce were at the time my word, but division is happening I said I was awarded the homestead. It has a mortgage and a key lock on it and after the quadrille, and you know the division of all poor one case, etc. I'm getting a payment Three hundred thousand dollars by two hundred and fifty thousand dollars of it is in Ross

and I'm wondering if you would advise me to refinance the house or if you feel I could use the money to get up on the whole, though the mortgages fifty two thousand, but it was a ten year mortgage and also the payment hefty like over three grand a month and then back, is a hundred and seventy five, oh, is that how much is out standing on the balance? Yes, oh Canada and ok, and should go to an a quarter which the house worth its worth about. Six hundred, you got children at home, so we have one minor child and to adult children and the motto child at home with you. He is a man who splits when he is but his ages. What sixteen? Okay I m

What do you make so I've been at home Ma Am, but I do have my real estate licence, though I will most likely. continue to do real estate. I just dabbled in it, but you know I can. I can add that up, but I do you know I do get a pretty substantial struggle on how much like sixty eight sixty five hundred a month. Ok, yeah! Cathy! What does this house mean to you? Is it there's there? motion will tie to disarm the it's where my kids wanna, be. You have kid I mean I had cared to hear yes by you know if I

you know it's on water. Had the pool it's like a country club, it's a beautiful house country club. Your training needs love. Well, then I ask that because you lead with what the kids wanted and I need to know what Cathy Watts went out. Ok, I know what happened so I received at the Burka gift eight financial analysts from forming the oasis about that for me,

And so when we were doing all the calculations, this gave me the greatest you no financial future by own by keeping the house as opposed to then having to go by the board crap. That's that's ridiculous. This money invested in other things, could give you a much greater redder return and owning a. How should you can barely hang onto by your fingernails when you I'm an income yet and rebuilding your life? emotionally outside of that financial analysts wrong? Ok! Now, if you won't stay in the house, I'll help you if I had to stay in the house, I can you from the outside Azure older brother, who has not been involved in the emotions of the divorce and had my art ripped out stopped on by muddy boots. I have a different view of things than you have: ok, you're still trying I'm gonna just step

everywhere, you ready. Can you handling out? Ok, you're trying to this house represents the past and the good parts of the past, and you want some of that and I think, there's a future and it turned out to be this year, but it's not worth cashing out your retirement all down to this thing, I think you get out there hustle some real estate users, sixty five, dollar income and you pay these stinkin payments, and you hold on to this thing and a year from now, when the last ones get ready, gloved ecology, decide if you really want to be in the country club business anymore? Ok, because I think you move to a different property. That's part of your emotional healing in your friend start that is not a strenuous as this one is because every time you can a room in this place? Something from Bell goes off for the rest of your life got lucky. I don't agree with that.

Get a chance to redefine your new future moving forward and as much as I talk about dream in high definition you ve got a now learn to dream again of what this is. Gonna look like for you moving forward and you're sixteen euro. I didn't get to be a shot, call vote now they dont they're, not this is about. You That problem a review merited way by sorry. I'm broke in your heart, mommy spent long day for you, but you know what they

it's good. She needs. They hear that because she's gonna be in the driver's seat, now move forward for her in her future, and you can probably pull this off and here's the thing. If you wait a year and then you decide and not take our vice and cash out their retirement and paying often you keep it cause. I was wrong. There's no harm in that in the year, didn't costume anything except restrain, making three Thou Norma payments, but you can do that. You ve got some other money involved in this situation to show the overall answer to your question. Is I predict that this house is not a permanent part of your future? I think you will find a higher and better uses for your life in your money than the protection of the country club, but I might be wrong so camp out for a year, tough it out for your cash flow it out for a year and, let's see where you end up, then see other roasted businesses going and see. What were your heart is

you'll be in a better decision. Better position grief was to make their decision at that time. The gunners is, you don't have to sell it today and you don't have to pay it off today now, but it is a strenuous year ahead of you. If you don't it isn't. Cathy you're gonna need to sit down to do some math, because this hundred seventy five thousand omber he lock you're making it. Was only payment on beds and that's ok for a year right, ok, for a year! But after that you need to decide. Ok, I mean they're gonna refinancing work my way through these mortgages, I'm gonna use some other cash or I'm gonna use the quadroon. Pullet am dump it on this thing, but I disagree with the premise that this house singular this particular

The house is the highest and best part of your financial future. What was it a financial ambush? You got word what she said and analysed analyzed at Emmy. You can t you. She asked his opinion. She has carping, rushing she grown lady. She gets the decides. Who knows where I disagree that that's what I do understand that real estate is an excellent investment and I do agree, that and our greatest piece of her ass at base will grow, may be more than the other ashes pieces. Were hand she finds great comfort in it today, but I really think that some of that I know from having worked with Ladys Effort divorces that held on two things, like a barely alone, to try to keep the passion alive and I've just been through this conversation like a thousand times and thirty years. So I think you're gonna find something different at the end of the year. I might be wrong and I'm ok would be around I'm ok and you can

they Ramsay was wrong. If you want to look, I am go with that, but if I'm you, I'm gonna do sit there for a year and the sea where we go and let's get some healing behind us and even to a really tough time very hard hard times which are describing the number sure describing here are twenty five or thirty your marriage, and there are some real stuff that has gone on here, that we haven't discussed and we don't even know what it is. But there has to be this amount of money being transferred back in four sixty five hundred dollars coming. Your way is very unusual in southern some very painful things that go with each numbers have to show. I'm sorry sure you had the year you ve had I'm sorry that things didn't turn out the way, their response

but I would not cash out your return today. The dervish! I really would thank you for your car crash organ thanks for hang out this hour. You, sir, thank you for having written that puts this particular hour of the day room she showed in the book Hey, it's Kelly, associate producer far enough for the day, Rancey shit. If you would like to hear it, every screen live on the show make sure you visit, Dave, Ramsay, DOT, com, slash, show and register. We would love for you to have to national. Today your story,

Have you got questions about retirement, investing and becoming an everyday millionaire, go beggar and brought her with my man Chris open on the question of Intra. I M excited to be able to talk to you all week in week out we're gonna focus on your calls, and it's going to focus on building well investing and how to become an everyday millionaire subscribe to the Kosovo show wherever you listen about gas hates J producer of the Dave Ramsay show