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I am sure I am sure that in the period of mortgage w has the status of refugee arose in common remedy. Personality is Michael. Today we answer your questions about building world, doing work. You love and creating Maisie relationship book launch week here at ramsay, doktor john D, lonely on the road with his brand new book own

your past change your future. It is selling we felt tens of thousands of copies. It's been an incredible weak. Thank you for your response. two. It doctor He's doing a book shining tonight for those of you in katy our country in phoenix, I he'll be the tatum boulevard of barnes and noble at six p m, denied answering questions, doing a talk in assigning your books doing pictures whatever We need to do it's all there. So come out. Come out come out if you're in the phoenix market, thanks for joining us, open. Phones again, as I said, aaa eight to five five. Two to five rob is in din. the start of this particular our high rob. How are you, I'm doing well. How are you guys, better than I deserve what's up lawson,

I was in the goods company. Won't, let you add my forty year old type, one diabetic son, that is wider on my life insurance for a third of the new application process with Xander. They hope to get them cover bigger concerning the dealer type one diabetes trees, the acceptance to prepare an with a life insurance policy. Now that carries and into his adult years those interrupt. I was working on sunday. you get to him, return policy, ITALY, the eight p m, the older. He gets the more expensive than other it will be to get his own policy is healthy. Otherwise, Lastly acted and involved any recommendations, I wouldn't worry about it now. in terms of starting to think that far into the future, Strategies, you can do, but No, I would even if you could buy life insurance today, I wouldn't ok, because the fourteen

does not create an income that is in the event of his unbelievers horrible event of his passing, the eu miss hale. Obviously, but you would not be losing an income, the development council, and so I wouldn't worry about that. I make sure you have. Your emergency fund implies for medical needs and that you're taking or of him, of course, with your medical insurance, all those kinds of things in place, that's more important. Anything else. Right now, and it's not like you to doing job of treating You know living as proper lifestyle in all kinds of things, which is vital for a diabetic, babies as you are discovering is actually, as add, or worse than cancer or a heart attack for someone to get life insurance in the because that's what it s, because the long term prognosis eight effects that the death rate among the population and show absolutely ah, as he

starts to move into adulthood. Efforts take on responsibilities, and people are counting on his income, a couple of things He can do number one. I would continue to check with. If you know it, and years from now, ok, which twenty fourth out of school he's got his first job. Could check was andor because if insurance world is changing every single day on what it will cover stuff that they wouldn't even talk about? covering thirty years ago. They cover now, don't even think about it, because just got, the better statistical, actuarial numbers on you know. cancer survivor or certain types of heart procedures and and they've got better aid are on it. That that take the fear out of the moment to write a check is what their worried about always show anyway, kept looking back number one number: two. There is a process and the life insurance were for adults called guaranteed issue. There, too,

quickly smaller policies and their prickly about five to ten ex what more term an expensive, but you can get ten thousand dollar policy, a twenty thousand our policy, an example of a big one, is you can get mortgage I've insurance, which I do now Recommend you get if you're ensure, both by term. turns it's one. Fifth, the cost but if you buy mortgage life insurance through your mortgage company, it's a gimmick insurance, but must always guaranteed issue, meaning that there is no medical. They discover you but it's about five x, so you've got two hundred thousand our policy on two hundred thousand. Our mortgage you're gonna pay five, for what you would have paid for tourism, our term partially. Ok still are bad still you got at least the mortgage taken care of. If you died with a couple kids in a wife right, so you go those things until you build enough wealth and then the last thing, of course, is to stay out of

and become wealthy as quickly as possible, become self insure, a million dollars in mutual funds, and no doubt at all, when he's thirty five, you don't need life. Insurance is wife will be ok for europe. He's winning financially? If it is a little bit more expensive than maybe for the rest of us, he can still afford it. Dave. I love your advice of checking. Back later, I mean there's no way to make predictions on this rob but I kidding ya. I listened to an enormous amount of sports radio in the car, and I kid you not. I heard Seb. I heard it accompany other day advertising on this very issue. So I think it's the ball continues to move. Yet alexander and other insurance companies are going to be options and, if he's financially secure, he's going to be able to afford it. If you're hearing something on sports radio is probably guaranteed issue yeah look at it some You are probably not a policy that you write unless you're uninsurable but if you're uninsurable then there's a cut, you can backfill with a few of these expensive policies. Right great savings plans, great budgeting, not

building up a bunch of expenses that are left behind. If something happened to you of course, most of all managing your health as it is and and sounds like he's very healthy young athlete. Well, it sounds like he's got parents that are on the ball, because it's er everything to do with diabetes. just tremendously affected by lifestyle and I'm not a medical person but then been around the insurance side. This thing for a long time and we see it all, so that that's that's what you look four, but he's gonna be ok rada and does it got great dad mom? And I and it's not gonna, be something that it's going to be easy. It's not a hot knife through butter to take care of, but you can do those things and and take care of it for sure, good question when the phones at triple eight eight to five five, two, two five. Now again, I'm not an expert on diabetic anything, but I Out of the things that DR life insurance prices are under, you control. That's correct!

Smoking and obesity are the two biggest things that will cause your life insurance to double or triple, and these are too things that are under control. Under your control You think. A J cutler of national native yellow played Vanderbilt went on to play the Unifil type one. I beat his play in the nfl, I mean took care of himself still. Does you know so you can. While it is a serious disease, I have a first cousin who has it, but she manages her well and there are ways that you can be healthy even with that condition. Absolutely absolutely so you know I, you quit smoking for a year. Now you get your just half or is the truth here, half of our age- Firstly, an incredible show these are these: are things you control, weird how all of these things case. Not an robbed.

landscape scale type on a fourteenth? Not that is not the case in the lifestyle but the, but but you can control a lot of stuff out there. Folks this is. The ramsey show the

it is not good that man to be alone so excited we can go to football games yeah, I'm so excited that we can do our events again. Oh these arenas, I have were back share. We've been doing them for a while. Now we're going to be in las vegas may, the fifth doing an event will be in orlando in may doing an event and doing our entree leadership summit in orlando in may, it's almost sold out like four tickets left of that thing available and guess what the smart conferences back and what happens? If you go to smart conference, can you get really smart day? That's exactly what happens see just like that october. Twenty second in Dallas, this fall Jerome sale now. can common will be there he'll be talking about getting a career, a job that you'd love, that you are passionate about and that you more than you are remote in your life.

All the rooms you personality shall be speaking will be speaking on personal growth. On leadership on, of course, money, of course, oxygen colonial, be there with information out of a new book chain, Pass change your future, pretty incredible! of an especial care, should be craig and Amy grow. Shell from life churches, sure one of america's largest churches and doing a sessional marriage, it's gonna, be incredible: tickets are just thirty. Nine dollars, it is for half sold out already, I know October twenty seconds over gets a long way away, but you guys know that all of the concerts and all of the sporting event are selling out early and so were no exception. Here. Ramses get your tickets right now before the shell out got ramsay solutions, dotcom sly, Events, I'm so pumped the So cool life is so good, good, stuff, good stuff, good stuff, back up is weathers, Rebecca in india, annapolis, high, rebecca welcomed the rams asia shavings,

can make all true. What's so I'm the ceo of a small business act. I would like to know how we in the or other business does that you know our. Trembling? What fair pay He is now considering the rate of inflation. Most businesses can afford you just do a sweeping eight percent increase across the board and even if they can it does it mean that that increase, appropriate for all the role that employees and managers. Don't really want to hear that, though, I'm just curious what other people are doing well to start with, I would reach the table on the people that work for you, ok, people ramsay, hear me say regularly your raise is, dave when you are we have never given and inflation raise in the. Story of this company. Nor will we look. I

Will you are paid for two based on Two things in answer of our company. You are paid what the position pays in the marketplace. and that's fair, not right and truthfully any by this got a job out. There, you're paid what you replaced for with rare exceptions, no one pays you twice what you can do wished for four they pay you what you can be replaced for? That's cold, hard facts. I know it's mean on chechnya, but welcome to adult land. Ok, you get paid. But you can be replaced for number. One number, two part of facts which you can be replaced for is how good at what you are at what you do, how excellent you are at what you do, and that makes it harder to replace you and shall excellence killing dragging at home when you, adding value to an organisation they want to add value to your paycheck and so

We are adjusting our comp around here and we ve got some pretty dramatic upward adjustments in some categories, based on what that position page in the marketplace. because the conscience of other costs to hire a project manager cost to hire a dev two a day, three developer that right code. ass to hire and administrative assistance has gone up. Really dramatically in the last for much more twenty four month- I remember and thirty years of doing business ok, and can usually notion the career data. First thing to do is keep a comp study going and really know what each position you'd have to pay if you were gonna replace that person, because the market places now, if you are dove to you can demand acts in all of europe.

if you're a senior level software engineer. You know your six figures, plus maybe two hundred thousand plus and show you know that. That's that's what you and get somewhere else, and I dont pay you that you're gonna leaving go, take that and so That's the way the business is as you you don't do that now, but that doesn't mean we give everybody percent raises because the new says inflation was apron, went up, eight percent. You can afford to do that number one number two, it's not fair number three! It doesn't make sense from business perspective for a bit for spending as the cfo. Your job in hiring is to get a eight of return on every dollar payroll and that's based on their productive. Not based on inflation. That's and then I want to really quick, rebecca, listen to help in and by the way, you'd need to communicate this. The reality is, let's play this out: they think that they should get a bump for inflation

If we play that reasoning out, that means you take it away as soon as inflation begins. Subside and they wouldn't be cool with that either. So that's it we're conversation is never built on and should not be built on inflationary pressures in the economy. It's about profit and loss and his dave said value in the marketplace does set the bar the market. It does, and so I would tell you He's not a compensation or inflation issue which I was a leadership issue and this is hard, but you ve got to communicate this properly to your team. One of the ways to do this is, I would really engage, were smart dollar. Rarely solutions, there's nothing. Complete cup comes close to what we offer the best marketplace in helping their employees get control their finances, like we do with individuals on the show. Every day we business leaders help their team get funny. peace in the form of smart dollar and it's one of the most sought after benefits through

the nation and I've been on fox business's maria bartiromo? Talking about this is one of the greatest benefits that leaders can offer in a time like this, because here's what we know everybody works and I'm speaking as an employee, a team member of range solutions, rhino every one of us has all the tools that we need to address our lifestyle, our budget, to the inflationary pressures. It's called a budget is called for peace and I think that's what you eat- invest in them, because this is gonna not only help them deal with. The ink cost and gas and groceries using too? gets at a real right. Now, it's a real strasser, but if we can help them manage their day to day budget their monthly budget and when, in the now you're also setting them up to win in the future they're going to stay with you long time. So I I think, more dollar in leading your team, Through how to handle their money in times like this, where inflation it socks, but it's not, in our world well again think we share profits with our team. Let's grow profiteering.

And so ramsay family does not take all the money and put it in our bank accounts when there's profits. We share it with the game, the systematic per since that we used to do that. We did it since or a little bit company We believe in sharing, but we'd. Never page someone based on what it cost. I, what a gallon gashed caution. You don't want to be paid on that now, because at one No, it's five dollars another time. It's true dollars and you want me cut. pay? It's a roller coaster in half, don't cut your pay, it makes no sense. You know that the workers were using the gas pump index to set your praises month. I'd be popular yeah right and so now so we don't pay based on what the costs are at the grocery store. But here weird thing: ok Are these inflationary things have driven up wages, it is going to almost every category that's right and august.

That adds to inflation, because almost every good or service you buy has built into the cost of peril. Answer you buy a loaf of bread, it's not just the cost of the wheat or the. Stick around its the cost to the guy who begged yet the gown delay. the gas prices that delivered at the guy who a girl who showed on the shelf. Whoever was right so labour. belabour labour labour fuel There's some weight in there and there's your brat right and so on the increase labour went from ten dollars an hour to twenty dollars an hour all sudden and guess what that shows up in your loaf of bread, yes and so

Also. That means that the guy buying a loaf of bread went from ten dollars to twenty dollars an hour because that's what it takes to get to hire somebody an entry level positions these days. So I don't have any of those positions but all of our positions. Just about every category. We have our comp studies, we've seen tremendous increases not based on inflation, but based on what it takes to hire someone into that position, and then that becomes an element of inflation with trickle down economics. For those of you that don't know what that means. This is the ramsey show the hour on the ramsey show in the lobby of financial peace university on the debt free stage. Brett

and mary are weathers. Hey guys, our you get caught Welcome good to have you guys so, where you guys live spurred north carolina, or cool, welcome to nashville and how much of you paid off. twenty seven thousand are very good. And how long did it take you? Thirty, five months, almost thirty six go and your range of income during that time, It started out at one twenty seven and then thanks to covert now the ninety seven chapter one eighteen and this year we should be back to where we started want. One What do y'all do for a living? I am a counts. Therefore, a large hospital system in the euro area Am I a network engineer a voice over apiece specialist are very good for you guys want bear ball. That was two hundred twenty seven. Fifteen over was typical, sally, my and then another twelve thousand love. It was one of those ten year student.

won't forgiveness programmes that we figured out doesn't work. And then one hundred thousand of it was our mortgage. Oh look at where people paid before house done you guys, what's our worth the current market for twenty five to fifty nine. Is that it's all yours I'll be married. Eighteen years then a hundred percent that vision, chimera. Note knew no first time a love it. How do you feel those great great, so tell us the story. What happened three years ago? They got you started on this. A couple of things. I know your cargo, I'm well we're both members of a local car club, an area and just coincidence on the way home from those meetings every month your show was alone, and it was just on the radio one aim we started. The car

it started out just entertaining to listen to, and then it just started to make more sense. The more I listened to it. Then I started to bothersome, yeah yeah and then so in. I just started listening to it everyday on my walks and then it just it just that's what you're saying they sat, so we just got focused basically the the ten years of student alone, whilst statements. You know you don't have to gimme payments on, but that doesn't mean I'm not charge an interest and when we actually, those statements come in with the all that interest on permanent, just a thought that we might have to pay all that back one day We need the european corridors that no one should gushed argues ploughed on through the the house and everything, a funny story this, though, because he can put us on the

without having a conversation to me about it? Oh, oh, I'm gonna, beyond your day of your name, was curse a little bit of my how violated every councillors wall up until we sat down and whenever the budget- and I saw that there was a budget for vacation, and I saw that there was money in or out my new car fund, and I saw that there was money. You know how it was. strategically placed and after that, other ok, so I'm gonna be quiet while just like that

It reminds me of what rachel deal. She don't go along, but she can be bought. She yeah, that's right. That was that was after the student, yeah yeah hell yeah. You have to make that clear. Happy, wife, happy life. We all know that we didn't, we didn't do any vacation, that or any of that when we were paying off student loan debt for show things, but you've got now where you can and then you did the normal stuff. You should have been doing in baby steps four through six, where you're enjoying your life but being intentional, and then you knock the house out and it still knocks out, because you had a very small mortgage and knock it all out within the whole thirty six months. That's very impressive! You're, very well down your heroes, man! This part, I'm proud of you very cool. Thank you. We are honored to be here to say, thank you so much for having us. Or were honoured to have you here, your powerful. This is good stuff. Ok, now bread and marry you ve done it you're. A hundred per cent- that free house in everything, first time and eighteen years of marriage. What is this

good to getting out of that. When someone says how did you do that? What he Tom written plan a budget. We, terrible with money, and we know what ever got any serious money issues at rome, just one they decided put three hundred hours on the mortgage next month. For hours in the more remote and have a plan, because I didn't want to spend too much because I didn't know how much money we head because I didn't have a written plants. They want us all on paper, it's just like getting. Is it really, as you really are fond of vacation front and pay extra and extra on the mortgage. You can do it and we know every month exactly how many extra dollars we had to pay on mortgage. So that's what we did I so dave I've got to ask because for years decades you said, if you lose no one else letter you live and give like no one else, and I'm not going

forgive question cause. I gotta ask a question: you're totally debt free, you guys are members of car clubs they're like a dream car coming. Is there one already in the driveway? Do we know what are we looking at her? Well believe it or not? No there's no car common, but we're actually on our honeymoon also here, because we didn't have the money to do that when we got married. So it was awesome, and so that's first on vacation, where I am for vacation good. How are you going nashville and what else? Just that was our dream to come and access it at the time, so we're doing it. Eighteen years later, that's a way to go. I love it cause we're so glad to have you that is well good. Alright, now won't you do all that you've got gotta buy a car watch, the car yeah, you guys are qrp well actually to get husband pointed it was a good move. It was a good move in his defense. He does. He has collected cars over the years and won

inherited, which was his fathers, and it was a nineteen. Eighty four mustang and so he has other mustangs- were probably gonna work on the fund for me, cause I'm rock and two hundred and thirty eight thousand miles in the heart of our europe showed up here, and I got a europe of Europe, a europe about nobody decided because I'm gonna cry when a leg of the car, it's so cool tears of joy yeah. Well, I love my car. I love it. Yeah trust me. We saw your raptor earlier, sir yeah they're in the reserved spot. No doubt about it, I love it good job guys enough on your been well. This was living in giving like no one else in it. Just in your case what I keep hearing over and over again was a: u got together and be the intention allocate it took the took the sloppy edges out of what was already a frugal lifestyle away.

ready a fairly reasonable lifestyle, you're, not out of control, as you said, bread, but all you just tightened up by being intentional by make everything behave and do what is supposed to do what you wanted you get to Jews an you chose wisely and well done very very well done good work, good work, proud of you guys, were honoured to have you here with us. Thank you very much for that. They got me much gotta call We baby such millionaires for you. That's definitely ex trapped her in your story, how ordinary people the extraordinary wealth how you can to a bachelor we're gonna. Give you also give you I'll be of our best showing book we ve ever done it ramsay the total money make over. You can give that someone else and stir up ahead. ruckus with them gets worse, have gone on their love. Doing that show good stuff thanks again for being here, bread and mary from charlotte north carolina hundred twenty seven thousand are afraid of thousand everything. In thirty five months there are usually weird making two hundred and twenty seven thousand counted down. Let's hear a debt

I worry so why we're gonna love love we had in the last month, or so twenty four year old, a twenty. I am a seventy four year old. and are, and everything in between and the first of the year. Almost only two million dollars in debt free screams, while pretty incredible, pretty incredible and I get to talk to millionaires, babyship millionaires every day We go out and shine books as they call in here people meeting people that have been doing this stuff and your listening today, maybe for the first time, I sure hope you think this is more than mere entertainment,

Hope you decide to go change your life. It's why we show up and do this every day is for you this is the rams russia the the

the ken coleman ramsey personality, is my co host. Today, our scripture of the day is first peter five, ten and the grace of god called you to his eternal glory in Christ. After you have suffered for a little while will himself store you and make you strong, firm and steadfast doctor martin luther king Jr said the ultimate measure of a man is not worry, stands in moments of comfort and convenience, but where stands at times of challenge and controversy, one of his better quotes and he was a quote machine for sure wow what a man alright Kai k is with us in denver, colorado, hey k, welcome with ramsay show, thank you how you doing better than I deserve. What's up, ass, my husband seven months ago to cancer. Mama am here and we never decided whether we are going to purchase the home for

three kids or whether we were gonna, make a large I'm payment form. Now I'm gonna like what I do for purchase here you are three children are grown and you want to buy them homes as adults. Is that what you're saying gap yeah? That's it we're saying oh wow So you're, obviously in a very good position: financially I ran into this book in two thousand and nine called total money makeover and it just doktor, frank supply. We honor, a business, it doktor stopped our lives and turned around and battered love that very well I'm so sorry how old was he was six before going

forty six. I want that alma tombstone love him already. What a great guy, oh, my gosh, you have three kids in there all grown, Are they all married? There are married okay, and what is your net worth now? Four million good for you and so you're talking about by house price of what her kid I am, you have one in portland, so kind of five hundred thousand I have one here in the dumper area, so another five hundred thousand one in minnesota- and I think I could do three hundred thousand or five hundred or whatever method digested tub for me In five of your would leave you, two five right yeah,

That includes my home. cash pretty rebellion, prolonged here, gotcha casual high off. but a million I just got from from him in my mind you know he's paying for two out of three kids right now. Our and your howled, fifty seven, how do they look here around thirty eight thirty, six, thirty four Are you planning to stay in the business you gonna shallow business? What's that pain you. I'm I'm planning to stay in the business and it could pay we anywhere from

in like this luxury that I really didn't work and I made fifty thousand ensuring one back like. I was, though I don't know fifty two hundred thirty two hundred thousand only what I can make ear, but for the last five here's kind of retired and two thousand seventeen pose this cancer have four times, and so I would work and that that would be our play money. We take the kid. Here we do this. Are we do that? I, I love the idea of helping the gauge and about, but the pre did caviar has to be that you're. Ok, first, and a million and a half out of this is it is it? Is it its pushing my fear button a little bit for you. Ok,

it is not a man and a half out of eleven may in its half your cash and I m sure I'm problem you gonna do this in two stages. If I'm? U, max of three hundred per kid. And show that uses a third of your cash, not half of your cash right and that might by the one in a shorter. Wherever was the full house. I don't know it to be the down payment for the other two and then here, you're working in making two hundred and you look up in your network- is five million dollars for ten years from now, you pay the other, do off you now, you know if I was gonna- buy the kids, the home. I was gonna, keep out keep it under a try and keep I gonna have the house, so they couldn't borrow again today so they couldn't you know ever get in trouble

and I wanted a little. I had a friend that paid it paid for his kids houses and he all he asked for was a letter from each of the kids and their spouse promising Ever borrow a dime again of any kind and in return, you get out, and you Going through financial provision show forthright and show that's like That's the commitment on their part, rather than trying to protect them from themselves. The best way to protect from themselves will not be somebody they need to be protected from inside. If there are not, if if they won't be willing to commit to not turn around and mortgage onawandah give on one so the other. The other piece of this is. I have one that good to fair with money, one that the fair ones fair. To careful note, though, they know you're, not so you cannot approve. For me that you're worthy of this by quit, being fair to terrible. Because otherwise, I'm giving too drunk a drink. I have no desire to

gives him by house. It's got around in it being a curse to them. a blessing. The whole purpose of this is to be a blessing and and I agree and we in our way agreed it out, and I understand that, but what if they cannot qualify for three hundred thousand dollars our current, fifty thousand large are now well. He might a wild execute all this, which will also give you turned a grocer, more wealth, No one says you do all the day. If they're not ready, ok, we started the discussion assuming I was assuming they were already, but I may want to rehab the behaviors of one of these and commitments from the other two and is I take a year, in which time you're in you know here, your money is invested in it's gonna go up, Damn you know for sure. Why not touching any of this project will make enough to live on actual suspect issue yeah, that's what we ve been doing.

One of I've learned is that generosity? Sometimes it's hard work. Surprisingly It's not given summed up you're, not giving so my dollars with gas pump, surprising delight in a random generosity. This is three hundred thousand bucks to somebody that you love and that you know you could be doing harm to. If you don't do it right, show scanner recur. a process and your grieving and their grieving. Show harm yeah, I don't the husband you're describing to me he's gonna, give the kid behaving with money, money pussy that guy vienna able now he wasn't, but his biggest tat cave is all these kids ran and, as you know, round his you right now that was just as they are on. I agree on the rules. I got two alike. I love the idea of them all having paid for hours, but I want that

be a blessing to them and that entails them. A handling money well be committing than ever borrow money again otherwise, undoes everything that his legacy, your legacy, that you're trying to do is doing so I would just like this unfold low, but over time here this little time, you got continue the grieving process. It takes a while to breathe. An awfully well on the phone here. Thank you for the others, because- about crying just listening to your arm, but the arm yeah sitting down with them and going ok guys. I don't know what I'm doing right now, but I'm kind of thinking out here in the near future fall next spring somethin like that. We need to be talking about doing there, shouldn here's, what I'm

thinking and here's my worries and here's what I think I'm going to ask you to do and y'all start process on that, and you can do whatever you wanna do, but that's the way. We would probably do it around here if we were doing it for the common good show today the job to James defender, kelly jack and the booth, I'm dave ramsey, your hosts will be back with you before you know it in the meantime remember this is ultimately theirs and ultimately only one way to financial peace and that's to walk daily with the principal peaks friday's. Here you can find all of our shows with the ramsay network, app on your smartphone. It's the only place to listen to the entire back catalog of episodes download the ramsay network app in your favorite app store that a the hey. If you're a fan of this podcast we've got more where that came from. As you know, at ramsey we're always looking to protect our listeners from scummy companies, slick marketing and money myths, I'm george camel host of the fine print where I do the research for you to help. You rise above the system, that's designed to keep you broke and in debt, so that you can become confident in your money. Choices check out the fine print wherever you listen to pop