For one thing from a dollar five studios Day: Bramley show that is down measures. It has taken a bloody Bmw, the status of children's day Ramsay your host. Thank you for joining us, open phones, AAA eight to five five, two to five, that's aaa to five. Five two to five Dan is whether in Phoenix Arizona, high Dan welcomed that ever amnesia

greater talk here, you two what's up, My question is, I want to which my figure income job was stick and become a teacher in ten years, I want to know what I should be thinking about another, never heard your mouth narratives. While one should I been thinkin about, we want to become a teacher in ten years. Yes, What why so long? there are like certain things I want to do now, couple international trips every year and that should not do a ball, me, I'm a teacher salary. What is it that drawing near to the classroom?

a big fan of economics and was teaching that, and I want a coach high school tennis. Always just think about my first I'm a contrary, and so the first thing I will do is challenged the presupposition and the free Shudder Edition is. Is that the only way you can. Live out these these scratch. These issues that you have to go into the classroom, and they become, I become a telescope the teachers are gone. Our state showery, and I just wonder if there's other ways to scratch that same image that that I view the thing I'll give an example: ok, I'm Teacher.

Yeah. I teach for living, probably one of the better paid teachers you'll ever talk to, but never in a very real sense. I You know that at least one I'm being the product around here. I am also the city of the organization, but when I'm being the product portion of what I'm doing is teaching. Will appear on the air and when I'm speaking on a stage, before audiences and so forth, I'm teaching and manufacture I'm teaching economics alot of that time, I answer certainly financed so when it comes to my mind, is that We certainly need wonderful people in the classroom. There's no question about that, but there's two things blocking you from doing it and it's like, you, you have to go, live your life before you don't yourself to jail you now? was called away. This is coming down now

That's it I'm gonna, I'm not gonna, be able to travel an imaginary money, my gosh, but I get my passion in I've. Just think. There's gotta be another way to do this, and so on. During the wonder you know. Is there otters summertime that you run and you know, and you teach a con as a sidebar thing at the local community college just for fun or something like that. I don't I'm making this up on the spot, but what I'm challenging is your construct that this The only way for you to do the things that you love to. Do working with teens, obviously is appealing to you in terms of coaching much on whilst football coach get that, and I gotta tell you Those young man come on his team they get a lot more in football.

Hurry trains em up on how to be young men- and he has the opportunity of those very fulfilling to be a mentor and to add to that They they really in any by gets esteems got a good thing going on, so you can be that guy. You know that that is. Huge blushing, to to the young men are young women. Are your coaching had coaches in my life and in that were wonderful life changing people, so I don't know, I'm just wondering is or a for an open market answer That allows you to maybe on your own business and you yeah you Open a tennis coaching thing at the local tennis club? and on any or you open and by your own I don't know yet shop. I don't know that I'm gonna prepare for

A jail sentence, which is what the way you ve laid this out. I dont, because I don't I'm gonna break the framework. And arm the only way to do that would be it's like. I'm gonna retire because I've got so much money and then I'm gonna go to something where the money it paid the matter and so you'd have to just become wealthy. During this time, your predetermine, you may be able to make a six figure. Shall I be ok way to do it, but it's just I I want to challenge icons too. I that helps David is with us in San Diego High David. Welcome that ever amnesia like you, I am better than I deserve. What's up, so my mother love ass a few years ago, my father in law, to about thirty four thousand dollars, which we re. Found out. He put into silver now, God that brought about an honour, bound and brought about a hundred pounds of it.

And I think that the idea is that that's gonna be announced. Inheritance anything else. But I know you at your feelings about commodities and he bought it. I just checked is made We will need more than twenty three thousand today. So I fear we used to call you tell me as encouraging a solid but south is taking place cancer as well, do not take a day, but It could be one or two years, we're not sure obviously a lot of emotion behind now that investment we're just gonna. I am now bother him with this issue. For the major. Let it just fight help inviting answered. Is praiseworthy Magua them through his illness? If, if he was gonna, have this investment for thirty or forty years Edward.

Dealing with a healthy guy, and we just need to have an argument over Thanksgiving dinner about it try to get him to understand how stupid dishes, but right now it's just I mean Let's just say this: if you guys have a peaceful, wonderful relationship for the time he has left for a year and a half or two years and the silver becomes words zero. That's ok the silver is not oh mother, upsetting him having a big argument is not a model is two things to do with a gathered on the stage for I gotta get to this, have to do with that guy. I'm sure right, I want to work with him and loving wound, taking vision should understand within what are really wants to do right? I can't live, and so silver is not a big deal and Vienna and migrants are used to give me a savings bonds for my kids college. I could out, I would catch him out and put on their mutual funds as a shock

and shout about, but I never argue in my grannie about occasional, arguing, Grannie if you're smart. She just said. However, savings bonds do and tell her. The truth are doing great, since I catch them out and put him up mutual funds worker. I didn't tell her, I did it, I just stop. That's a gathering of thinking about this is that over Asia Data breaches are just a fact of life and they will continue to occur. Listen if you been part of a data breach over the years. You are ten times more likely to become a victim of Idee theft and with over fourteen million victims each year, it's a serious threat that you have to deal with. If you wait until your victim, it's like buying auto insurance. After a wreck, it won't work. That's why you need I data protection now. The only plan I have for my family, in my entire team, is through Zander Insurance. Call, eight hundred three five, six forty to eighty two or visit Zander dot com

Why should I go from blinds dot com? They have a one hundred percent satisfaction guarantee, which means, even if you'd miss measure or you picked the long color they'll remake your window bonds for free. You get free samples, free shipping, promos every month- will save even more use the promo code. Ramsay changes in Utah with a question. My wife and I have completed baby step three this week. That means they're out of that but the house, and they have emergency fund of three to six months of expenses in place. It's time to moved baby step forward, but we make too much to contribute to an IRA watch suggestion for retirement savings vehicles,

well, if you're following K, work, virginal income limit on that you can do backdoor Roth. I raise make more than two hundred thousand a year which shone, and I do every year, Nor Roth, I re is simply where you open and after tax. Traditional, I re anthem seconds later, rodent or Roth create any additional taxes. Got the money on their to grow completely tax, free and, of course you can do one for you and one for your spouse as well, and on that, yet you to fifteen percent of your income. If you're, making more than two hundred thousand it only get you about seven showed the way. So you don't need for a one case or something else. If your self employed are, you can look at a simple irae, which is for a one k for small business or a sap simplified employee pension plans, as she p p. Many of those who work.

Neither one of those and so just lookin sit down when there's more pro and find out what avenues you ve got that you can save towards retirement, but we want to get you to fifteen percent of your income and if we make in two thousand and thirty thousand And you know a couple of Roth. I raises. Well, you know you're limited on that. Obviously, and I in the sixty five hundred dollars a year this year. Our six outlawry or the shrimps, seven thousand, if you're over fifty per person. And so that would get you the twelve thousand. If you're under fifty two of you, out of authority. Emotional got eighteen to go anywhere nineteen into a for a one K. If one available and that would get you there Eric from Philadelphia, Pennsylvania high Eric welcome that Abraham show thanks to him, you know better than I deserve you up,

ok for myself, but I'm wondering how I can help my family out show the situation is that my mom and uncle On a home, the two arms: Do you imagine homes? Only one person lives in each of them over the one that my uncle then is about to go into foreclosure. He again Morgan and I'm just a day for years advances. The homes are inherited from narrow passage Use the money for the mortgage to actually pay them got itself and then also have used it for families, You know that they don't need and so the mortgage around for closure and my mom, who own turn on the train as I and disability what she wants to deal more asked me to purchase my uncle home and we finance the mortgage and she thinks

she can pay off the home with similar income that my uncle biting, that mistaken. I told her that I cannot do that with that in mind which is moving doing, is taking out a home equity line of credit on a home that she owned, that she can pay off the mortgage for him and I don't know how to dissuade or not to do that, and I think if she don't do that, she will ultimately despite all that about The point about nowadays tell them at the time data fixer situations, I ought to Skype when their Orban occasionally without arms at all you in order to support them both, no longer says that if didn't cocaine? You don't give a coconut. You don't give her money. He also poor peoples misbehavior. Let's call dependency. And so now you're Other is about to make a huge mistake. Time somebody quit baling your uncle AL

suit yourself to sell the house where each a move angle ransom before gets foreclose known, but you're like other, is yet you know Be all up in her gruel say a mom. You just are not gonna. Do this european Gonna do this, and if you do this, don't you dare call me I've told you to do this. If you don't, you dare call me and asked me for money ever because I'm telling you right now, this guy's behaving with money. He's gonna, take every body in the family down the drain with him. You're gonna get real strong about this, because nobody in your family talks about the fact that your uncle is being stupid, regular leisure. No one says it out loud The dirty low secret, it's a wink at a nod. It's the elephant in the room that nobody discusses, a standing in the middle of your coffee table- am I wrong,

I totally agree with you, so you need to have a very, very, very clear, conversation with your mother. How old are you? twenty four years old, on daily step three, setting up a down payment. She gonna, listen! Do you have your area? Does she a bit of Alabama exactly you got powder but syndrome, big term Want somebody powdered your, but they don't want your opinion about money or sex I see Does she did she go to church Churches, yeah how's your relationship with her pastor nay, lies change. The guy about five thousand members fell down and mature relationship in a church budget as a kind of really can who the sheep Back that you can do this, though- in her face and tell her how to do this. Oh boy,.

I don't know anyone it's yours back and cheese from my father came about, Our relationship isn't an agreed, I don't know someone who your father did you say he voice and on the other, and then set of problems there. Acacia Pearson thing: your grandfather left these two people houses were he ate rolling this grave right now kill him. Oh, yes, this is killing now. This is not how that man lived his life. The answer is you need to. If you can find someone to speak for her life that shall listen to that Can bring into this conversation, Ngos down at her kitchen table with the person who will look at her and speak plainly to her and she will hear them. Because she does not need to do this.

Now she doesn't. He I can maybe get assistance over a professional. Like a lawyer, I councillors among all I only if she would listen this is a family attorney that did this. Will that cause these two people end up of these houses that she'd listen to, grandpa returning eventually death, Who is small town examples? Attorneys is well respected and he would sit down whether and go in John or whatever your grandpa S name was he'd, be haven't a fat right now, Martha don't do this right. Then, if you gotta, somebody can do that. That's what I'm looking for him and pray and ask to send that person into your mind or into her life because I'm afraid that she's not gonna is not because I don't think you're smart at twenty four you're asking the right questions. You really got a pretty good a handle on this, but I want to relieve you of responsibility to meet, to take care of people who refuse to do more things. Because you re a family. That is not a moral responsibility on your part

so you think, is the best course of action for him to sell the house, and I asked him: how does he has lost the house? The law The house buys misbehavior it's an foreclosure. He needs to sell it before illusions, right, yeah, he does not have a way to save this house with someone else, putting all their assets at risk by only a mile and then he's not gonna change anything and then the next time it goes around they're all gonna lose our houses.

That's what's gonna happen. Does this guy and changed a funny? Any sellers house, that's what it needs to do and in government something in LA screwed up lost the house. That's what amounts to and start again for action. He can start version and your mom I'll be ok and let her stay in her paid for house. While these illnesses, which is exactly what she nature, does not need a mortgage, I'm sorry man and frustrated with you. This is the diver amnesia

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The lobby ivorians Zeus illusions: general, lose Weathers journal a warrior great day, doom baron I deserve now here you my or you from from fair banks, Alaska, all the way to Nashville detail, delivery screen. Why good for you and how much of you paid off a hundred and eighty thousand dollars in seven years. Why it again, and your income during that seven years range Seventy five to a hundred men included some rental income Boca very good. What do you do for a living? fish biologist upon the Yukon River made very fond good for you, couple Fischler there's a few so a hundred and eighty thousand dollars worth what kind of that is

two thousand and consumer dead. Equally between a truck alone student loans, a credit card and signature loan and then my homework fifty thousand and then a rental property of ninety. So you paid off your house and your rental and all your dad you're a hundred percent dead, four hundred percent. I'm look anywhere I love it man. Congratulations will that's a perfect seven year track man dawn. How old are you I'm forty six and every thing is paid for everything's force haven't been dead free since college love, while what's a house worth well It's not worth a lot. I thought I was gonna get rich and real estate, so I bought a couple of fixer uppers and realized. It was a lot harder than the tv shows make it out to be Papa. You think you know what I want. What's your home and watch the rental worth each

My homes worth probably sixty and rental is probably worth one. Thirty, ok, animals nicer than your place: videos, it's a duplex; ok, very girl, she's, a couple thousand dollars and paid for rules that nice, like it. Congratulations. So what put you on this vile journey seven years ago Seven years ago I was driving across town go under the bookstore thinking about borrowing more money to buy another Rennell property and I heard this crazy guy on the radio yellin- I'm free up. I am straight to the bookstore, went to the shelf, pulled fine, showpiece off the bookshelf. Read it in the bookstore, while put it back on the shelf grabbed more than enough bought that one in Red a few days and from then on. I was on a wild. I looked for a class spring and class when you want of an attribute university in Alaska idea

while I've taken it four times and let it a couple of times will thank you for leading. It has also man well over the seven years. I keep your batteries charge right it does. That was one of the secrets is I took the class once a year and I able to get motivation from the other students and ran also tell the other students that at war, yeah, I'm on my way, and now for sure you tell em up you got you got the documented prove friar on you too, but you're gonna be the debt free scream. I am not even fifty in every thing is paid for makes only five hundred doing that. You can make a bad gum good living man, that's beautiful! Well done! So what are you? so people you Bin Laden, the Klaus, you ve done it. You paid off everything that what is the secret to getting out of that The plan works, the have faith the planners times or I thought well, maybe I should tweak it.

But in my view stay up here, don't you re steps and then- and I have listened to you too, when you would tell people, don't tweak the steps to stay on the plan, and I that's what idea? I just did the baby steps and it worked no issue for you now want to share out straight at it. Yeah call you submitted yourself to the projects I did in my plan. Wasn't work dawn very well done well said: what's the hardest part of their over seven years, This part has been telling myself no and most of my family lives in Iowa, that's where I grew up and so on haven't really been able to come back and visit like I, to snow Probably. The hardest part was saying no and not be able to go back to visit family. Now you can now. I can't live like nobody else later. You can move and give like nobody else position- do it well that so what what

do what are your explorer splurge on to celebrate? You know I when I was indeed, I would ring my hands over the mine earnest Just as I wouldn't spend hours looking for her right shirt at the right price, and now I just go to the store and if I see assured I like I just by that's barging in Europe, I want to state dinner, just go: get a stake. There are good having a job? Well done, sir, proud of you that you have people cheer and you honor did you have people detracting? I had people cheering me on for the most part. Again I took the class allots until I got a lot of motivation from the other class members and most the any detractors tended to be people here what I was doing and they go well. I don't think I can do that or yes, that's not possible for me and so

I'm here as an example that you can do anything I can do anybody can do if you just decide to. Well, the answer you only got a copy of Chris Shoguns retire inspired book for you that radio next chapter in your story. We millionaire well on your way to do that. Afforded the millionaire theme our in my future, so go ready to have your associate there. You're you're on your way for sure. And of course, outrageously generous along the way, so very well done our eye Gerald Fair Bags, Alaska on an eighty thousand paid up. This house ledges rentals, that's everything. Seven years, seventy five thousand two hundred thousand honour income counting down. Let's era, debt, British grew three. Two one

Dad amazing gray. Jobs are very, very well done very well done. Man didn't get any better than that. Does it Matthew is on Facebook Dave? How should I make a monthly budget where the commission based income to focus more on the other well in the back of the total wanting make overbook or any of our books, the financial patient versed in materials all have budget systematic, which was just reform, one of the forms, the irregular income Planning Sheet Matthew the irregular uncomplaining. She works like this. The things you cannot get to in your budget. You want to do should do what

they, don't make the cut on your regular budget, meaning the amount of money. You know you can count on you to a regular budget. On that, the things you can Get to you make a list of those things and say I wonder this wonder: there's wander this wonder that need to do that. I should do that. The list of those things and look at them with a dollar amount beside them and say. Which of these issues The most important on here if I make enough above my regular budget to do one thing, put a one beside that one of our enough to do one other thing or when I put it to beside that. What? If I make enough once I've done those two things to do one more thing, what would I do you put a three beside that and so on making your list from most

important unleashed important rewrite it in that order from number one through number, whatever most important, to least important, and then, when money comes and beyond your regular budget, beyond the amount that you knew, you could count on better month about this month, the commission month or near your self employed whatever it is, you maybe you're working for tips, and you have a great great Tipp weekend. What are you gonna? Do you go down that list of priorities as far as you can, then, certainly right the list, because now some of those things don't have to be done in more, you did not do so again. What's your most important I go into that shows you get some money. What Most importantly, Goin knew that as soon as you get your money, what unites most important, I'm going to do that a lot of terms will be like you're dead, snowball, your next that eunuch, smaller and smaller Roth Romani at that you getting here, maybe

one in place that baby step that maybe emergency fund of a thousand dollars. They could be I can't afford to buy this item for the house. We really needed, but I really can't afford it until we get some extra money, but that in the logic whatever it is, it's in order and you go down the list in order of priority. This is that everyone,

further able at the finally brothers and sisters. Whatever is true: whatever's noble, whatever's right, whatever is pure, whatever is lovely. Whatever is admirable. If anything is excellent, are praiseworthy think about such things? Mohammed Ali said. White you're thinking about is what you're becoming They come what you think about Earl Nightingale, said and the stranger secret you become what you think about Brook is with us in Moyne Iowa high birth. Welcome that ever amnesia.

I gave her you better than deserve. What's up Has been an eye are about to start. In the end, are loud who do not have a minimum monthly payments. Hang on a monthly, though, how do we keep are that no ball rolling and the motivation going. When do you have to pay them well, Credit card, we don't have to do a monthly payments until August. Why has been? Why are they so that it can have a try all things that we have to do a minimum monthly right down minimum monthly payment until you get to it? On the dutch snowball, ok, you're dead, smallest two largest pay, the minimum payment that you're allowed to pay legally. Under the deal that Europe had this month, but all the money that you can squeeze out of your budget on your smallest- that if it

funds to be one of those credit cards are those non payment area, rather than still just chuck and a huge big power money on it. Thing you can squeeze out of your budget. You throw it you're, smallish that when you're in baby step to and use all investing temporarily, and you ve stopped all shaving temporarily list you're dead, smallest, two largest and attack them in that order, while paying minimum payments on. Anything if you have no minimum payment, the men payment is zero, That's the debt you're coming through in the Dutch no wall and then everything you can squeeze out of your budget, regardless of, if there's not a payment, do you're still going to pay it off as quickly as you can't. If it's a zero interest doesn't matter we're still gonna pay. The fact is. We can because interest on the term. The interest in the payment amounts are not your problem. The debt is the problem that we're trying to clear, And once we realise that and we ve got to attack all of it,

the attack it in the order of smaller two largest. Martha is in Chicago Martha Welcome to the diver am seizure I must remind you thank you for taking my car sure, what's up in your world I'm very young married any. We only have a very small are dead. We other home paid off. Now we are at the stage where we are looking to invest in than all the other baby, but my job offers a porter suddenly doesn't have any matching other than the pension. How do I go about knowing what to invest are even on this thing, I don't want to get my money out there. I want to know what I'm getting at very was on your part. How old are you when his eyes and how they want, and what your household income

forty five thousand, he asked for these currently school ones. You graduate he's going start a business in the last year. Of course, work anywhere out a package for good. When the baby steps tell you to be out of debt and build your emergency fund before you start investing. Have you heard that before damn. You have a car alone guy, so we don't get out of that. First much, do you own your car out in a good? Ok, so I M not goal number one. Baby step want to save a thousand dollars. You have any money saved at all, as we already had a six month saved as well, we didn't get a long become much do have incited rings. We have ten thousand. Why will you do not pay the car alone.

Because it was a one percent interest that we figured. We need that there so you're really working year plan the way we have today. Ok here today and then build your emergency fund up three to six months of expenses and then start saving. Ten percent of your income into retirement? You can both do thousand dollar Roth I write or less than a six thou know: Roth IRA and you're gonna, be there so you need to save about one Roth. I re in good grow struck mutual funds. You can down with yours. Mr President, I hope you pick some good mutual funds. That'll be better than the four fifty seven, because its tax free growth in the four fifty seven is tax deferred growth, because it is third comp show, now you're smart vesture Pro after you pay off your car a

for your out a dad, and then you have your merchants. She found a three to six months of expenses Van. Start investing and so that way, we're not trying to do things so here, that is the real monitor we know you're wrong. But your one percent theory on the Warpath com because it's one percent interest. How do we know you're wrong because his day, opinion. No, we should We didn't talk to ten. Thousand millionaires. None of them. Not one said I built wealth, because I took advantage of low entered borrowing on consumer items like cars. And thereby I was able to get rich One of them said that vast majority of them,

seventy to eighty percent. Depending on what the question was, we were asking said, stayed away from card that credit card debt student loans that they stayed away from debt like it was the plague, Guard blush of the interest rate on the debt. They were not trying to play some kind of a math game and beat up They were not trying to play some kind of a man. The only way you got one percent on a car was you bought a new car, so you launched a lot more than one percent when you drove off the lot. So this is all an illusion that smoke and mirrors pay off your car. Today, then build your emergency fund van. Start, your Roth, I re with smart rest. Her proud and you'll begin building wealth even with a five thousand dollar income well done KEDO. You can do this no issue, though we don't do issue plan issue by, steps is

Well we're shorter doing your plan. There is no sworder you're doing it or you end Uganda side. Between us, in LOS Angeles, High, Christina short on time, go straight to your question chomping. To make all I just started feeling I defended baby One last month I was able to put aside three hundred and fifty dollars good an, but then I just did my pet and found out that we owe seven hundred and forty dollars. Ouch right, so I'm and, as you know, backwards and away, and I'm really want Did they offer my credit card that and what your household income? thousand. Look. I get one thousand dollars in the bank for your baby emergency fund and another seven hundred dollars to pay the Irish and then you began your death snowball.

Which seventeen hundred dollars you make seventy two thousand dollars a year tighten that budget up and stay out a restaurant. What is more, we Don T restaurant at all and we have blown Hunton bow happened, whereas we now our didn't mind because I have ended up The feeding of my forbearance, internal finale, just started playing earth didn't mind four hundred dollars a month. You make seventy two thousand a year. With my husband and I do so- she sat down and do your every dollar budget and tightened up north. You ve told me: I'd keeps you from having seventeen hundred dollars, you just starting the plan for the first time ever you're telling money what to do instead of one or more, when it has power. When you do that don't be amazed at how much traction is yes,

hold on ominous India copy the book for total money make over. If you dont know, really have one to make sure you ve got all the steps and exactly what to do? You can do this kid. You call me back if I can help you more. That puts us our that I brambles show in the books we'll be back with you before. You know it. In the mean time, remember, there's ultimately only one way to financial peace and that's to walk daily with the prince of Peace Christ. Jesus. This is Jean Charles producer, daybreak shit. You know you can now listen to the day. Brandy show on pandering, inspired by all the ways to watch and listened check out our show, Ramsay dot com, slash money, isn't the only then can we talk about around here. Get life. Changing advice on your career from my good friend and career experts can combine all my can com and show. According to a recent Gallup poll, nearly seventy percent of Americans are disengaged at work. If you dread going into work every Monday morning and you're just trying to make it to the weekend, you can call me show is for you, everyone has a sweet spot. You're sweet spot is at the intersection of your greatest talent in greatest passion. We will help you discover what it is. You were born to do and then we'll help you create a plan to make your dream job a reality. You matter and you have what it takes, join the conversation on the can com and show here more from the Rams network, including the current common shop. Where ever you listened apologists, hey, it's just

Producer of the day, Ramsay show this episode is over but check the episode notes for links to products and services you ve heard about during this episode