Dave Ramsey & Dr. John Delony discuss:
- Rebuilding trust after financial infidelity,
- How to invest $2.5m.
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This is an unofficial transcript meant for reference. Accuracy is not guaranteed.
I
We should not just from a pause of moving movie storage studio. National ramsay show, where that is used in the pay of mortgage, has taken the place of the Bmw. This not a simple choice. We have people build well work that they love and create an actual amazing relationships. Doktor John bologna number, one by showing all their hostess
John bologna show is my programs, you personalities, my co host today,
big day to day around ramsay hundreds of folks out here and our lobby. Watching this happen,
you didn't notice. We just changed the intro live from
headquarters of ramsay solutions broadcasting from the pod.
it's moving and storage studio. We have a new sponsor for the studio anak, an incredible group of people. They are they're incredible, it's a pretty cool and not one of the beauties
The life that I get to lead is I get to meet
behind the scenes, people that have done huge things and you know people let like. I would want it to have me when I
the kid you're talking to me. Tat got you in these parts, the pot
worship, team or those kind of people, and we ve known them for a long time, and we know how well this company operates and how their values are, because we don't just you know
put the rams show or the ramsay name, rumsey logo, alongside anybody who righteous attack were
not that easy, a girl, I'm just saying so I mean we really. We really are we we want to
align ourselves with companies. That think the way we do all the way through and
We know that when we tell you guys out there that something's ramsay trusted that you can trust what we say,
the windows I wouldn't want to sell out. You know, and so lots and
so diligence gone into. This were really really careful and we wondered. Is there a connection to a moving and george company?
and are well. We ve endorse real estate agents for decades. Right I mean
I don't know maybe millions of transaction, certainly hundreds of thousands of transactions with ramsay real estate
lps and
hold your house, I reckon you needed to move, and,
into and out of right, exactly you got it. There is a lot going on right,
and so anyway,
company that you work with moving man moving companies
the summit is tough man. It's like I made some
my good, but some are more like. The whole idea is to start with. Having approved must
Alpha must stop. I am alumnus made, not gonna be dish
and ass an emotionally d. I can't stand that. You can live in that worldwide that DR mccoy, they do, and so you know then you get a car
maybe like shorter, does with their spouses, are shut. You know now now we're not doing this. We're not doing this. When I do this, we need a company, they did. You can work with.
that cares about. You cares about your stuff shows up when there's both to you now it's and we
I searched high and low and then we got connected with these guys and we're really excited about it. I've I have
it behind closed doors have listener the conversations in walking through this this product and what this motion approach.
Does the service. This group offers
I think of myself, my wife monsieur
kids, trying to get from point a to point b and hey we're going to move on this day, and then this happens. Then we can't move on that. This company is thought through everything. They've thought through everything
and they make it accessible for a knucklehead like me to actually get out of my home ass they married and still have.
not carry you hit the you can kill each other moving
Don't. I know you killed today because none of the piazza- it's it's it's it's just man had so gold, is to see the stuff and think man, so twenty three million people will move each year in the? U S, one in five ramsay listeners tell us that they plan,
over the next year and podge has been trusted.
Over six million moves there. The industry line leader and container
and container moving and storage. You can packs
or move your container move out.
when your terms show they bring it to your driveway set it. There then leave it there as long as you want right pick it up. If you, your closing, gets mess
public and store it for you,
Later or
can pick it up. Take a straight to the new house in order,
the flexibility and nowadays, everything so chaotic. Well, it changes on the fly, and so you just pick up the phone and go on we're not going to really be dropping this thing in such such city. Yet we've got to get that deal fell through, but we're going to have to put it in storage, because we've got to get out of the other house, run corporate housing
But and our stuff is in storage- and you don't the moment six times in and out back a bag, it back it s report it up, couples right the breaks up people's brain.
and the drivers
DR that containers they all work for the company, like their team members. That's too
what it is is just get the thing out there and throw it around nominee. Are you hire this company who then outsources it to this guy then halfway, he elsewhere says the rest of it cause it's not it's not contract coming in here yeah. This is a guy matter of fact. The guy that brought we've got a pot outside and the guy that brought it lives over my neighborhood in Antioch, yeah, and so me and we'll been hanging out out there and great guy he's the driver that brought it brought the one we got one sitting outside and soon as I got here this morning, the team started asking: are we moving? Now,
wouldn't all fit, and I'm just telling you but yeah so
You really really good stuff and the cool thing. That's all this video. I started talking to me about this when
set the thing down. If you pick it up and it slants, you know all your crap slots to the boy
Can crashes into itself and breaks right, yet I've got
like super computer things, our arguments called upon. Zella
If somebody slides grabs it and keeps it level picks it up,
that's it on the truck pajamas
may I ask it about that's if anyone named apart
it would be dave ramsey. That would mean this is like you know. Yes, boys, with trucks. Put the puzzle a keeps it level the whole time and then when they set it off on the other driveway, if you're like in tennessee- and you have ale there's
employers and they can keep the thing it does never slot or you're drunk to the back. Are you
precious items becomes not you're drunk,
your your precious items to the back into work, though your precious items, the back so they're here,
Ours today how we got a hundred
people in the lobby today and you, people in the lobby, there's hats
and there's all kinds of good swag stuff
drink glasses and are when you call toddlers tumblers. Thank you, but like a hot pot thing, so that's good luck, check him out. We got good pod
leaving aside origin with our heads such on? We really can't wear these proper
Billy way sideways or cool dude way or be kicked. You kicked the broom up. That's unfriendly
That's not what that means. What it says you down. He put us down. It means I don't think I'm friendlier. Also your country wicket, are. We can't do up well, yeah, there's laugh or want to be one. That's. How does it right there anyway, you gotta get the schwaiger out. There are out there for you guys we want you to enjoy it
and make sure there's none left for the people to morrow, just don't know, leaving
for the people of Mauritania.
to reiterate this as
employ coming in here. I did turn over our eyes and x rays, like that's I'll, throw you vetted me
company was sue him our eyes. We wouldn't have you any back pra, that's exactly right needed really, but you, you are very thorough when it comes to vetting partners. Like you said it's not a sign up sheet in it's not a just writing check this.
The company, it's thought through. How can we take care of
people and then behind closed doors, their great human beings. And that's that's me.
it's a winning combo me? Can I trust you? We actually do he talks about the annoying drops from the beard if the leadership team sucks, but the company's good it ain't gonna be long for the company, that's right and so
and even if they got me got issues if you got a good leadership team, now fixation shrine,
you know we do. We have issued around here some time, but we fictional in all, and so we ve been talking
Our team members have used pods moving and storage, they loved it. The new pods moving and storage studio,
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my dream minutes after they are doktor. John D, lonely rooms. Personality is my co host. Today we are newly broadcasting from the pods moving into storage, studio gallup poll,
peer behind us, John in the book shelves, so those are be watching on youtube. You can see our little mature pot.
If the full size one outside hey. We know a lot of. You are scared. Right now I was just taping a spot for fox news just a few minutes ago in the number
twenty million people get rid of have their electricity cut off,
scary, wow peacekeeping and if you
like your drowning and you feel like you're terrified, and you don't have enough to take care. Your family. You don't have
live in fear,
been there? I know how it feels and finally, the bottom of that might be changed to anger, and I should I've had it. I've
Am I live like this? You can
he beyond the same thing over and over expect a different result. Someone's got to change and it maybe it's
the traffic entropy should oversee you been thinking about it. So I been telling you about
you been putting it off and maybe,
to go all in on the Ramsay way, the cordial teacher,
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And fear go to ramsay solutions, dot, com, slash, F, p, you ramsay solutions, dotcom, slash,
p, you open follows a aaa.
Eight to five five, two to five: sarah, isn't fresno! California, high Sarah welcome to the rams. You shall I what's up.
Ok, hi! How are you doing today? Grey?
How can we help okay, so in September I apply
for a mortgage, fair forbearance and an
We did not tell my husband and it went on to about this pass July. I I
woke up in the middle night with anxiety and god was pushing me to tell him, and so I talk to him about it.
we have not combined our incomes and and
I'm just overwhelmed, and I dont know what to do at this point. What about him? Major
feel like the best path forward for your safety was to lie to him.
Honest
I just didn't want him to get mad and
I don't want him to know about my spending and
I was going to only let it go on for about a month or two. So there,
This was it you being scared of of an abusive guy or our. I know your eye, it was you hide our him. Yes, shame! Shame. Yeah
at the end of november, my my steps passed away, so I just his son, and so I just let it go cause. It was stressful time, ok
the house that you and your husband live in you're supposed to be financially responsible for by yourself and are we
I paid a mortgage and he pays the other other bills.
Scale. I don't pay them who told me the most of whom are you not paying because you don't have any money? Are you not paying because you spend out of control, you have in your, not saving right? Yes, that's it!
Iceland, out of control, and I'm not saying anything,
and we have a lot area and five years
married again six six years next month,
have our behind our you on the mortgage now
about. Sixteen thousand dollars on the forbearance is over and the past year has been added to the end of my term. So I
to start making payments actually over your current right now? Yes, the sixteen got light on the back.
So how could he knows all of this? Yes, I I discussed it with him and I
asking if you could just combined our incomes into a budget and we talked about oliver expenses, but I have
every dollar up, and I just I just
to be able to do everything with him.
It's hard.
Hard to getting him to sit down with me into a budget but hold on
you ve been cheated on him for a year right in
I can imagine his trepidation is to dump the table with you and billing.
It's all you see what I'm yeah he's
I need some time to heal man. You've been lying to him,
especially through a trauma right, and so I have you.
so we discussed it. That's usually a word for we passed along information back and forth,
I sat down and said I wronged you and I'm sorry. No. I haven't.
In our world in the financial world. The phrase we
for this is financial infidelity.
guy assuage answered you cheated on it, because it's a breach of trust similar to not the same, but some more to section.
When fidelity- and so this is what
You're dealing with is a pretty serious schism. Canyon sky,
are in euros, relationship that we ve got to work to heal. Ok here
and so on are now
our john you can throw this out. I don't expect him and you'd. Only the other day by in this discussion expect him to trust you instantly blindly
There's no reason to he'd been knots if he did the other, when all that would be weird. Ok, but
can we rebuild communication, and can we rebuild trust us we can and the best
do that is to work on your money to gather in both of you are
watching every thing the other one does, because we are doing this together. All of his speech.
All of your spending, all of the beast,
We are all accessible to both of you, because we are working our house, our plan together and so get anal.
Maybe the way to work on it as this. If I'm with John,
You start, maybe with an apology to lead the key
Frustration, this time, hey
I missed you over, I didn't know I didn't want to. I was I did it out a shame, but it doesn't matter it just the same thing. It's this breach,
trust and I'm really sorry. Now. I'm scared scared about two things
number one, I'm scared, because I don't
to do this by myself anymore. I need some help I want to be.
I wanna be engaged on would be accountable.
Everybody to know what's going on and so on. I need your help
I'm scared that, if we're not working
to gather and you're, not seeing everything. It's gonna be hard for you to rebuild trust. So if we were
work together. It would be: u helping me and son
training? Usually you get to trust
me over time, because you see us doing this together. The right way, this money stuff
how's, our conversation go
lot better than it had in the past, because
didn't catch the magic of what Dave just told you.
At conversation, is entirely about you, you're not sitting down across a table. Saying hey, you need to be doing this stuff. For me, it's not that it's you saying I screwed up arms.
scared. Will you help me
Will you want with me as a good? I want a refill trust and a good way to do. That is for you to see everything while we're doing it together
That would be amazing. I know I take. I take responsibility. Autonomy
my responsibility, but we're not her. Shame you it's just that you're the best.
you have a conversation like that is you don't have to throw any grenades on his side of the table,
can hold them all in your hands?
and that that takes you to some really cool places. So, ah, ah I think you got a shot
this. If that kind of a conversation does not bring the two of
to start working on your money together, you need marriage, counselling and
Is it one thing? I want you to try? Okay, you may need it anyway, yeah. I I think you're going to anyway, because you've been through a trauma. He lost a son right, y'all been through a lot
and he found out he might be losing his home right. That's been
Scary season he's been through.
Here's what I want you to do. Personally, I will
you to go to home depot or laws or something- and I want you to buy a cinder block and aren't you
Would it be said, duct tape on it deserves a lied about my money to the man that I love.
And I want you to carried around for fifteen or twenty minutes at your house and feel a heavy that sucker is in your shoulders again get heavy.
and your hands gonna hurt, and then I want you to take it into the back yard, set it down rip that duct tape off of it and never pick that shame up again. Fair.
Yes, because if every time you sit down to talk about budget that shame comes back up, you're gonna get fired
d. Again, you're gonna blame we're gonna pull you're gonna hide
We need that shame to be a way and secrets, man that that's the
the gas fishing secrets, and when I found bankruptcy of twenty eight, it was my fault I was stupid. I had to do
that exact exercise I had to set it down and go
did something stupid: I'm not stupid, it's not an identity, but this is a ramsey show
you could be a great driver, but if you never check under the hood, your car won't last very long. The same principle goes for your business net. Sweet by oracle gives you the visibility under the in business. That means knowing your numbers. Net sweet gives you access to the real time data unit
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doktor. John ramsey ramsay personality is Michael co. Today, in the lobby of ramsay solutions on tat dead, three stage casey,
and at least are where those it is. It is a lease corrects gird. Welcome! Welcome what do you guys live the mine I le coeur go well good to have you guys are occasion
you do to the foot.
Broke it. Undoing yard work here body waken half ago anything
to get out a yard work. I wanted her to pack the van before we left to come up with a better story, and then you come foods basing his air chasing a prayer away from my children mortgage where work, I'm gonna live right. Where do you live wisdom
in total, just western on the west side of the coin. I what good deal, how much data we paid off
He paid off two hundred
do thousand dollars. Forty seven hundred two hundred sixty thousand forty seven dollars and eighty six cents love. How long did it take ten years in one month,
and your range of income. During that time, we
it around seventy thousand. We peaked and twenty nineteen and about one hundred ninety, and then we went down to about one hundred and fifty for a couple of years and this year we're projecting to be north of three hundred wow nice jump. Okay.
pretty go what I'll do for a living, I'm
veterinary technician, surgery and I own my own area- be mechanical electrical coming engineering, consulting firm in its doing well, it's doing really well right. Now the little construction burn well where to go. Ok, I'm guessing to our sixty thousand over ten years. Maybe you paid off your house yester alive,
How do you, where people thirty six
just turn thirty five last weekend, thirty six and thirty five, and which is now worth about three and a quarter
how much in your retirement savings or hunt one hundred twenty
or thirty right now, okay, so your bump and a half million dollar networth already on the personal side, and you throw the business and there's a bit more there, so oh yeah, he might be over me and wherever there I love it. Baby steps millionaire book love it way to go you two thirty
five euro millionaires. I like talking to these with no rent and not a lot of payment in the stinkin wore away the girl,
but you on this ramsay way ten years ago
so I was on a trip to chicago for completing the convention and kelly that sitting over here and I were in the car together for what six seven hours
complain about. My credit card company, not increasing my limit for me.
He had just gotten Marian taken financial peace and so was like hey. Have you heard of the everyday reality before
and ass, I think I've heard of him on the re aim. Radio a couple of times, but so we listen to it
debt, free screams on the way to chicago the way back? We listen to podcasts from you all the way back. I was fired up
and if it was like a we gotta, do this
he came home was told me about it. I'm a natural savour says like I'm, on board with death
It makes you been through this before.
good bread, radio to get you to do yeah way to go guys.
All right, so you should now what happened after you get homey both siberian,
sat down, and I
be a little bit of a nerd. I had every dollar we spend for the last seven years in spreadsheets, but I'd never actually put it together, see how much we are spending. So we put our
together seem it made some cash
envelopes with old t shirt she saw ending editor. I found I was after up eu. That's right. We wanted to get the eu and were like. We can come up with a hundred bucks. We were making more
seventy thousand dollars. We can come up with a hundred dollars to buy the class,
Kelly and his wife purchase the class for us. Oh My-
wow, that's cool, paying forward here now and now your million
and held her millionaires. Gal killings vanished, like it well made
you are tripping over mowers in the yard you'd be here. I have waited for you to say my my company does mechanical plumbing electric and landscape in, but you left that went out again. Closure biggest fighting ten years was the hardest thing for yalta. Work through
we sold the cars in two thousand and thirteen
yeah. That was a hard one. When I told her, I was selling mighty accurately l she peered out. She knew how much I love that car and I
at that point that I was there I was done. I was like we need to get rid of this dead. She she lost her job. What we
halfway through class, maybe month, and it happened
and this was back- was thirteen weeks
and that was a huge wake up call for us, because I realized that if I
my job we're already and travel with her losing her job, but I was seventy percent of our income. If we lost my income, it was bankruptcy.
We were looking at and so we,
it pretty hard and sold the cars, and that was a total.
Odd situation and our
a place where all you had left the house yeah we cleared. Third,
thousand dollars in debt. That month, though, we saw
the car swap apulia. I saw
I tl for six thousand dollars more than I owed on it. I was planned, spent five or six thousand dollars and another car and went looked.
he's some keith cars. I weekend pay thirty two hundred dollars for two cameras
and we that then had covered the gap on her.
Carter Lexus our eggs three- fifty that's sweden bottom right after I bought mighty l and
Her parents ended up in buying it from us being as three thousand dollars more than the dealership was going to act as a barrier to offer them a good friend, and I have made off my law student loan a month and a half later car babies up to that finished off, maybe sub too, which is ninety one grand, and how do you want to play with it? Ten years,
coordinated and over twelve class at all or whether we can think of self.
currently. Ninety eight gave you financial base university. How may given away
at least five or ten
I figured that hundred dollars, gosh you five hundred thousand regular wedding gift and some other people as well as what happens
me too. I love that. How is this
in your marriage of the last decade were
stronger together bound together tighter lines of communication open up when we started
and we don't have that stress anymore.
And they're still the things we figure out in the budget, especially grocery,
This is going up as they are and we have three kids that medical boil
medical bills here, but
Italy has revealed a man about payment, unbelievable
opens up the doors that were able to do some really fun things. I've, gotta, cousin, that's going to really rough situation.
I recently become a single mom of five with no income and
we just talked to her on the way down. We were able to send her a really nice birthday, present yeah make sure those kids eat yeah, I'm good man, good good couple,
well done you too, and that what we do this right, yeah like no one also later you can live and gear,
no one touch down by touch them alive
you guys, you're heroes, man you're, ah some very grave
very, very cool, great job.
You taught all these classes, you do it your
five years older, your baby may energy paid off your house when someone says how do you get out of that? What are you Tom? The key is
gotta have the why you gotta have the perseverance to push through because it is exciting at first, but you gotta, you gotta, get
that marathon, it's not exciting a second
the report through the ozone hole,
exciting first as exciting. Second,
not exciting pain in the bud
you've got to persevere, and the only thing that does that your? Why what did you guys define as your why why you're doing this? For me of going know, your pain
it's the helping, those single moms where those people that really need that step up a hand up, and
The old teach them christ, love and many
two people in a way that lobby will can't because there's a leverage,
let's bring the kiddos up. I want to make em we gotta copy of baby steps millionaires for you, since you are one model,
this number one best seller, we ve gotta financial peace, university membership.
For a year, another one you can give away. That's perfect and I are totally
make overbook for you to give away. As well, what are the kiddos names and ages with Emily?
That's a german
Five and James is nine months. Our I go James love it because good stuff
You guys change your family tree. He took control of your life and
We went from making seventy thousand megan three hundred through the journey hundred percent bedford,
Begun baby steps, millionaires, house and everything you're impressive, so proud of you
Very, very well done good stuff, good stuff,
I can see it at least the moines iowa, Jordan and sixty thousand beethoven ten years in one month, making seventy to three hundred counted down. What zero debt free, scream. Three two one,
one is that this is the rooms, show
I say it all, the time dead is done
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to learn more today
the lonely ramsay personality is Michael. Those today open phones at aaa to five five, two to five danny's in dodge city Kansas
danny. How are you
you're better than I deserve. What's up
I'm going to find out. Last year I sold from property that I had had
for years in colorado and
the time to expand through them. Everything were paid out. I walked away
and put into a trust like two point: five million dollars. I hate it when that happens
this
DE. I am sure that the catch wanted to see day
talk to me about like a new at ease and all I just didn't at the time think last year with a great time to invest.
it forces men in the bag.
And now I'm starting, you know, I'm fifty one years old starting to wonder. Is it time to put that to work for me through some
after the jam, something and
What other and wonder what other investments for me and my wife each lodged with about three
thousand men on the peace.
Some time groundless mood
mean dollars paid off about how we owe
No, you ve done really well, will condemn
She has done well and less money, we're gonna just a one off and that in the convention,
Malicious, like about some basics version.
When I a half dollars owns almost nothing, which is what is happening right now, our if it
if it earned ten percent that'd, be two hundred and fifty.
thousand dollars show every year
since their owning earning nothing you're missing out on term for thousand dollars,
it shall we need, do some with it to be wise right
Can I just you know you're where the market which allowed? I don't care where large tunnel care with a mortgage entered on the short term
I care about long term, because you're not going to jump in and jump out and jump in or jump out, I'm not going to teach a day trade or buy bitcoin or some kind of bull crap like that, I'm gonna teach you to invest long term. That's what I do right now I buy two
things danny you buy whatever you want to buy, but I, by two things, both of which
make me more than a ten percent rate of return on average some years, not some years,
more but an average of overturned.
one. Is I buy a series of good growth stock mutual funds
spreading by investments in gross growth in income, aggressive growth in international, the second
I buys I buy real estate. Did I pay cash? For that is income?
producing real estate. You
pretty good luck with real estate. Shall you may want to consider some of each
even if you weren't heavy real estate, I wouldn't be mad at you for that. It's up to you.
which one do you want to do, but you need
but in all go buy you a nice little office, warehouse or a strip centre or an office building or something that's producing. You know come on a thousand
year for europe
two million dollar investment here back right over
or maybe you don't may not arose tat. You do a maiden half hidden in mutual funds. I dont care, but we now
we're due investing for the short term? That's not investing speculating right. We do long term
new baltic farm ground union by four. What do the next week or are two years later, you bought it for what it be long term like that,
investment mindset,
acting is a mindset speculating as a mindset show,
don't get with a good real estate agent, picking out from income, producing property or jump on ramsay solutions, dotcom click on smart vesture pro and
sit down with one of the people that we trust in the smart
Mr world were not that business, but they can help you with some mutual funds
and do some of each or all in one are all another. I don't care, but leave
It just sit there. No an annuity now
and don't use your cp for financial advice there not good at it,
Is there a clock on that money dave before it look with capital
If he ice already, he already paid. It was already painted. Okay, none, okay yeah! He did that's done.
and trust and hide it from capital gains yoga show. But John. I think the
patenting, regardless of its two point: five million or arvid Shop hundred thousand.
Oh you for a one k, Yanina stop,
think about what you're not getting by sitting there,
there's some great psychological research on we
underestimate what we don't get by sit on the sidelines were so terrified,
risk were so terrified put stuff out there. We calculate that and we overnight
dad, but we under inflate what we miss by sit on the sidelines- and I think it's the same part of our brain, that
one thing that said: if you'd lose ten dollars a share on stock,
to make fifty dollars
to get a level of feeling to level the feeling costs. Ten dollars does more damage to your socks,
allergy than a fifty dollar gain. Does five one
your to your cycle. Does to your psychology. It didn't you know, and so it's the same thing on that. But what we're talking about here is the financial people.
opportunity cost. Yes, you have the opportunity to do this, whether or not
we used to do this and and all financial peace university less than a thousand years ago. We don't do any more. I rolled a mercedes out onto the tape out onto the ah thing. We do
after the battery were inside this church. Doing the video shoe right, but we rolled this mercedes out and said: ok, you put
without origin, this
in ten years. You'll have nothing right or virtually nothing.
if you put a hundred thousand dollars
mutual funds in ten years. Here's what you have and it's like a
But try to answer
so, even even if the market was half of that just by park in it
six figures yeah you're! You know if you put it in the wrong thing. In a ghost town like a car,
where you consume it or you do nothing or the arts making
order of a percent savings account you're missing the upshot sorts
by putting the money in the mercedes? You miss the opportunity to having invested and it's ok to buy.
Mercedes. Of course, I've got one had another evil about that, but you need to think.
Out when you're doing it. That much
it is no longer working. Yes,
it's now lazy money. It's
two priority, but slowing down in value its welfare money right on seven may is the wrong way right, but it is not. What you want is you gotta. Think about is that money was working, breakin, sweat what
do am about money as it works. Twenty four seven it
we'll get sick? It never quit it. Never
It's magic, covert, he'd! Never
It never has she fit it doesn't
gives us no like it is
works all the time, especially employ over half his works and works and works and works and works and works, but you've got to put it to work but
got it on work. I've near I'm thinking about this out loud and real time. I I've never thought of it, I'm guessing that
everybody needs to know where they fall on that risk continuum, because I identify with that last collar. If I got a windfall my my hit, I would say I don't know what to do I'll. Stick it somewhere and I'd look up in ten years and still be there, but I can also imagine other people
would rush to just start with
deal in it and we're gonna end up losing some of it certain that southern bogart unaware water show. You know,
paralysis of the analyses. Yet it is not good
being rash and gambling is not good, but you have to take enough risks
to not miss out on what life as well.
it's almost always, while Yonah jumped out of an airplane yoda, you don't you got it so I got a job. You got it. You know you got taken off risk to lift its right and also
it's good to have a former navy seals, strap your backs. You probably go latch helpful, gonna landry that attitude
it's really good at getting into that. Haven't a plan. Man habitable
and is everything I think about
well, the train guys are military will do so that when they hit a chaotic situation they it just goes to wrote. I'm gonna do this, and then this then this then this goes to muscle memory right. So when I autopilot, if I live with the little stuff, when I get a two point, five nine darwin follower
five thousand or whatever that is. I already have the game plan for it. That's going to deal with it. We're gonna do that money and we were just hanging with shale gas the other day, and you know they were telling us the same thing. It's not.
When you hit, chaos are, if
I should just when it will, and so, if you
the training.
brain is ready. You goin, auto pilot when stuff go sideways, not exactly the way
shut it, but please thanks, go sideways right and so yeah, that's a separate votes right. Is I'm trying to do the same things true with money? Okay, so yeah
You should not throw money around in something just because somebody said to you need to
stand what you put money on that may take a hot minute, but I don't take five years and it doesn't take. You know like we,
I took a call in the early days will show the sky had like here,
like twenty thousand bucks in roles in bed.
in his backyard yard and coffee can and he's like rules
the regular, and I said I think
illusion, two thousand dollars a year. How long have you been back there? Ten years, I said: you've lost more than the money in the can and you ought to go check the money in the can, because paper money doesn't do very well in moisture. It might be gone by now, so you could do everest, buddy, rush in worms, yeah and and neighbors with a metal detector. We forgotten words back here somewhere I'll show amber in it. Then this is the ramsay show the hey it's John alone. He co hosted the ramsay show. Did you know over eighteen million people listened to the ramsey show every week a lot of those people. Listen on one of our six hundred plus radio stations across the country to find a station near you could arrange the solutions, dot, com, slash the. If you enjoy this podcast, you should check out other great podcasts from the ramsay network like borrowed future, not so fun fact. America has a one point: six trillion dollar student loan crisis and it's out of control. I'm george camel host of the borrowed future podcast, where we uncovered the underbelly of the student loan industry and show you what you can do about it. It'll inspire you to see that it is possible to avoid student loans and graduate college debt free, listened to borrowed future wherever you listen to podcasts, hey, it's james producer of the ramsay show. This episode is over but check the episode notes for links to products and services you heard about during this episode, thanks for listening
Transcript generated on 2023-06-11.