The from the headquarters of randomly solutions which the ramsay show where we have people build, while the work that they love and create actual amazing relationship open follows a triple. I beg to five five to five doktor john bologna rams. Your personality number one bustling offer an ocean of the very popular ramsay networks produced doctor The lonely show where we deal with

of relationship. A mental health issues she's my co host today is we're taking your questions phone number. Ro polite eight to five five two to five. This is where Common sense meets reality and life, and it does every day here thanks for joining us, the called free. I'm sorry they advice is worth exactly what you pay for it allows but there's weathers in Dallas high Elizabeth welcome. Other ramsay show. Hello. How are you great what's up, and I thought I heard question. I've been with my partner boyfriend for seven years, and we have to well. Children together- and I recently brought up the fact that get married and actually have one day the count and do everything together and- But he doesn't want to do that, but why does not why the one who do marriage why he says, because you ve already but we ve been married and he's just not he's not gonna. Do it What does he think he's not married now

Sir he's got all these got everything right now Now, my next, when he gets sick, he gets sick. He want you to make him chicken soup right yeah. Now what what's the difference in his marriage? I'm confused well, Well said he felt that he's not into said that either accept him or what shall we do? so Elizabeth. I want you to hear what he's actually telling you here telling you he went all in on somebody wants and got hurt or broke up with her whatever. Is looking at you after seven years and two children in saying you're not worth that. I'd, rather have my illusion of singleness in my back pocket at all times,. So then I can preserve my little fragile ego. Meanwhile, playhouse and play house with you and you be my wife and I'll- keep all the equity in everything and I'll keep all my money and all basically

pay you like a live in nanny, but this is all mine. That's what he's telling you! I hate that for you I'm sorry. I hate that for you. How old are you baby one in four and the efforts for mobile. girl? What it's one year old boy and a four year old girl. So at this point, point, but I dont know what to do. I don't know if I want a year from now our daughters, twenty four and she ask you this question. What do you tell her? I don't know not going- I'm not gonna be the person it tells you. You got a stair leave because I don't want anyone, due to hang on to this guy said this: that's that some other decision, you're gonna, have to go.

What I will tell you is. I think you are worth go in all in on and I think you're worth having on that two people want to do life together and create a safe space to raise these two beautiful little babies you're worth that. You're gonna have to make the grown up decision where these day and you try to build a life in sight of a cocoon or you make other decisions. In two weeks, all my three weeks sorry go Hampshire, god they were mostly more afraid and, like I walk away, how what I'd marriage with money. Having worked for a while. So that may be true for exactly what sobbing now from article eight the very real fear amounts are very real

that the data suggest that when many women split up, especially In this situation, his net worth should go up and yours will go down for a season until you get. So pissed off that you become a multi millionaire lighter, but tom lay out the so. In other words, you can't do this today, its theory, because you got baby shift but you can say, aren't I'm gonna plan my escape and I'm gonna get my career. Build up and I'm gonna go get a job I'm gonna start making sure is money, and then I get to make decisions from strength rather than from weakness it to walk to something not run from something. And then you can walk gonna go not sure do I want to marry you so that and that's what we call. And Elizabeth burn right when you flip. The whole thing might drop

that comes from strength and your ears you're, when you're scared and broke it keeps you from making decisions. let's move from scared and broke and then re make the decision. You might make the decision under strength to stay, but you would need to get from strength rather than from weaknesses that logical! Yes, if it takes you a year, megan forty thousand hours year than take that year and go do it? That's why I got no plan and a problem You didn't tell you here going nowhere: and there you're in Dallas men there will be people, it will hire you in about twenty seconds. I don't want my care than marry their mother, hey Elisabeth, it's not a common in this situation, especially after this long that this is the only thing that this person won't quote. Unquote. Do this persons

telling you that you're things you think or may your stupid in the field. Your concerns you have about any number of things are dumb. You can't fill in them I think in after seven years after almost a decade this you ve come to believe this. To be true, I have my boat yeah, I don't. I don't either. Because the girl called hears got more stuff inside ever then. She sounds like she does her think she does now go get it Ginger here, thank you now, really I mean Don't forget to organise, believe in you, yeah and, and you got a four year old daughter, watch and see how mamma is a warrior princess, look out. Her comes Zena

remember that we have a joint like that. Little weird noise crier thing keep the yourself his breath. Don't let that only be in your head. It's I don't do that today, you bring it up it it. It's a grocer concern, obviously, which is financial, which is real. That's math! There is no debate about that end. What about my babies and what you re It is really important. There is at ringside seat to oh. This is what a mom and a wife are supposed to just accept as reality or I had a ringside seat to watch and my mom go from alive. boyfriend that told her dude, I'm wasting any more energy on you all. To a success business owner warrior, running shop and they got that happened in real time. Some,

most powerful people. I've met a single mom raised him, oh man and she was a go getter and she wouldn't be denied, and if the kids take that work, ethic and a nickel become a surgeon or something and there's no stopping them exactly sets up the next generation. You're setting up the next generation spend the next year deciding that and getting ready. I'm sorry! If I missed this is the ramsey. This Oh is sponsored by better help, pay for doktor john bologna here and all of us need a little guidance. Sometimes in life were faced with tee. Situations and choices and the way forward It is not always clear. I've been our position in therapy help me find a path through it whether its occur. your decision, a relationship at a crossroads or similar, struggle your facing. You need someone to talk with to help. You move ahead with confidence, so if you ve ever considered therapy, I

I commend better help. Better help connects you with a licence therapist who can work, with you on that journey, to discover who you want to become better help is entirely online, so it's convenient flexible and it fits your schedule. Just fill a brief question here to get match with the license therapist and you can switch therapist any time for no additional charge. So let there Maybe your map with better help visit better health dot, com, slashed aloni to get ten percent off your first month. That's better help, hd lp dot com, slashed aloni. The rachel cruz ramsey personality is my co host today christmas in charlotte north carolina hi. Chris welcome to the ramsey show, thanks for taking my call sure, what's up I'll, get right to it and me and my wife recently started a side business. We both work full time iron,

looking to pay off a ton of consumer debt and realize you can only save so much so we we started a side business dog sitting with the intentions of paying off the consumer debt, and I spoke with my accountant last year um and he suggested putting the two children cannot pay all written and paying them to benefit internet, roth, IRA and maxing out for them, because he suggested that you know they don't pay taxes on that, and so that now kind kinda threw me for a loop. I think that's what we're gonna put on doing for this year and and She is we're pretty to the game, with investing for ourselves. Writing the color, but one of its foolish Do that for them. I just recently learned the power of count compounding interest. So that's the reason why I'm doing this you know, and then there are three and five m. It just seemed like a trinity because we don't plan on doing is forever really just to pay out the consumer that were not really.

struggling. We have a plan to pay off the consumer down and if it takes a little bit longer because we're paying our children investing in a rather aids irish iris auditor and I'm sitting in front of you and you pay. your three year old to do work not believing that the three year old did any work and I'm and everything you did in the audit. You're gonna lose your accountant. Is a moron You have to be up to us to be able to be work. If the child is actually working, you can pay. The market value for their work, but you can't make a case that a three year old is actually working, be struggling to, say a five year old. It happens to be walking

dog, so we can do this now, an exception would be like. I did have a clear one time who had a baby, who appeared in multiple diaper commercials and made serious by The baby was actually working yeah. We put that into an ira for sure because of the power of compound interest. But what you are you have to be able to make the case that they were paid. You know I, like you, so, for instance, at fourteen years old would go and if three minute talk on the stage obliged to be dave, ramsey or longer, eight minute what it was like. A eight, I'm sorry, sorry, work the events that we now not eight hours. It was a few minutes, ok and and then she would go work, the book tables and I would pay her a percentage of what the kids books sold at the book tables back the issues, a teenager and it was a healthy percentage, but I didnt pay or a hundred thousand dollars a year. You couldn't just

fi that to an auditor you follow me, show Amelia such show you you can't That is all sitting Emily. Did it really is not free the dogs watchdogs, Craig. three year olds are not allowed to work poker. I mean really thank you choose some common sense area. What What would you actually, if you ran a business? Would you actually, are the neighborhood three year old to go No, you wouldn't figure might higher the neighbourhood eight year old, to help me and there's a market value to that. Dog setting, ok and you can actually make it a common sense, Kate, how that yeah, but the three year old, still barely potty trained, oh my god, and now we're trying to polychrome dogs no? No, no No, no, no, no, not another work! So you not. They that show your account and is willing to

set you up for losing an audit which why I'm saying I don't think you need to count on tankers and here's the deal to either if you wait until their eight ten twelve fourteen years old, to stop This process, they're gonna, be fine, like thirty two fine, you not to start at three, you know, so you couldn't do that. In a morally legal way. Eventually, that's that's great. What he's saying that he's going to not do you do the dog sitting thing after he gets out of debt says The opportunity is not going to be there. No I'm just saying in general and in general you can go in like Jan could start something or you know whatever life looks like when their act when they actually are able to contribute- and it's not like you're kind of you know, and you don't need to be behind on your invest. When I did this for our three kids, are you have to follow tat? return on the kid and there is some taxes- do go, there's no income tax do but they're gonna get hit with fighter, and I as self employed income and so each one of them I filed a tie.

In return, I looked at their actual income. I had to make sure it was market value or slightly above market value of for the duty that they were performing and I filed a tax return. I paid the taxes they kept the money that they earned. And I put the equivalent amount into a rough irae on their behalf. All of them were teenagers by the time we were doing that yeah and or the roger mean Daniel might have been toil from it or something but but remained they were. You had a justifiable. and we were baby step. Seven, an mai investments were ok. I didn't do this kind of stuff. you know, and then my and then I'm going to retire broke, but my kid as danger old as an ira, not rights right, yeah, it's islands and again Chris. I think the urgency that you're feeling is

he just said he was like. I just learned about compound interest. Writing yet. So there is an urgency- and I think you know again the heart behind it is incredible, absolutely and to be able to say Our kids up really well and there's time to do. That is what I would say and don't let this urgency of this new information. Make you make decisions and lead you into something that is just not wise? How often do they audit? What I mean if the the thing is you? The point is: not: are you going to I know I know I know there's like a moral thing here, but I, but when you said that doesn't mean, I wonder how often like egypt and you have to be to defend everything you do and an audit are. You should be doing yes tone. So let us not only slowly proper tax process But it's also the moral and ethical thing to total gas s firm. Like we ve just finish this unbelievable tuna, have your audit will dissimilar to an angel, I am ramsay and show it, but we have paid every

thinking dime that we ve ever owed and so have not lost a single category, not a single. Category and they've turned over every thing in this building, and how the shop, but by the worm, fanatic, about paying the zack being amounts every and honest every bit of cash we collect is taxable income, we don't he sat gigs gone air, it's very traceable, and it has nothing to do with I like taxes, or I think taxes are wonderful, it's my way of being generous. It's not. Taxes are extortion, their theft by your government. There horrible I hate them. I hate the eye, yes, but has nothing to do with that have done my integrity says: don't sanely about them! Runways, ice, on a text which is about me, and so process not aiming at you, but that's just a further soap box on this whole thing. So good, innovation, bad information, good thoughts, bad time,

shall later on when you're a baby steps. Seven and you and your return, which under way and you can do justifiable. orkut, valued labour, for your kid like. If your kid is sixty in a few years and their due the others wonderful auctioning business today for spring up because mom and dad used to do it and they go bunch of money. You could do what I did with our kids and be perfectly fine. Knowing is there at all and we teaching them entrepreneurs remember change, which is a great idea. So that's the kind you're. Looking for bad timing. Now you can't, unless the three or a diaper commercial through europe, don't have a gave a lot Virgil pull up at three hosting. Hopefully that's good. We're in the middle of that we have a three and a half year old. are you sure you don't want charles huts yeah now Amelia the eight year old, oh yeah. She would be pretty pretty knows:

take care doing better than I do. I mean she's pretty much game on phenomenal, but not the three year olds know they're not going to say okay they're, just they're buying their. And that's what we're going to say now. I've just said about all of them, not just not just that Dave likes bay. he's papa day ones maiden went they hit like two when they're doing the full options papa day. Never I'm completely until you can t and I know that I am not going to leave- there's a transition period of the rams nature. it's a competitive home buying market. But there's a way you can win. The churchill mortgage home buyer edge offers fast, pre approval on a secured interest rate and they bumped

their shower guarantee to ten thousand dollars, giving your offer the best chance of being accepted. Go to church your mortgage dotcom today to learn more. This is paid advertisement, homebuyers, edges available for qualifying bowers and select bone types on animal s idea, one five, nine one in the most consumer, access to or equal housing lender, seventeen, forty nine mallory lane sweet one hundred brent went in to see three seven zero to seven thanks for joining us america can common Ramsay personality is my co owes today. Dylan is whether, since all like city high dylan, how are you- good. You dave thank you for taking my call my pleasure. What's up so much I had been married for three years ago, or for three years now we ve been going to school on college. She graduated this past me with an engineering degree, and I graduate this up cunning date with an engine in degree were

president debt free meant. If your college with no student loans, then we ve been able to save about sixty thousand dollars that we bear march for a whole were curious as to whether or not now is the time to buy. What did you say so high and with, but just everything going on in the markets, certain key yeah sort, you what's your rights for me or other questions you have You know you're gonna stay in that area. Yes, we are sure you get on I mean you get out of school and you're gonna take a job and that's not gonna change. The real estate decision. Yes I can believe that I just want to double check and you have zero dead of any kind of sixty grand for downpayment here,

any kind of sick the ground for a down payment about thirty thousand doing retirement accounts in two years funded. Each essay account good for you. Ok well done well done I would, by now, regardless of interest rates. Here's what I don't know, twelve to twenty four months from now. I dont know what interests toby, I do no house, prices will have gone up. Seven to eight percent a year during those that time? Ok, how's pressure? Can anyone to go up and for an end, and regardless of interest rates, because there continues to be a shortage of housing versus the number buyers looking now so that the the hours strategies or we can predict that the cost is? go up so we might as well get in now. We don't know if rates gonna go down or not

Waiting on them become down, they might not. Yeah are no guarantee they're, don't come down the alum and they sat at six for a decade before then, in two thousand and eight there were artificially driven down because of the housing crisis and the government of straight up, manipulate the market and drove the rates all the way down to about one percent there for a minute, then up to two then up to three and then back down to two and a half and then up to three and sat there for a while and then jumped just recently in order six and seven again and airbus freaking out, like that's a high interest rate, but over the scope of history. It's not really. I interest rate shop What I would say is if we know how pressures are gonna go up so much by. If interest rates go down, which we don't know, you can always refinance you're nuts,

fuck, but you are stuck at house prices yet so by now kate. Another question for you is in that case: do we we buy in the next six months, how much How can we afford our income last year was about eighty eighty k, we have baby on the way doing due early next year to my wife, It will be working as much, but when become then I'll be working full time, so that's kind of the projected in is about eighty k a year now and a fourth of your take home pay on a fifteen year. Fixed rate mortgages are subject and that's going to mean you're, probably going to buy less house than you thought you were going to buy before this call. But that's ok! It's your first house you're in your early twenties. You got time you're. Both engineers you're both work some day you can easily move up and house later so again. I would end of the game. Darling

now making me hesitated. I don't know if I'm gonna move a pregnant woman or third trimester. That sounds like a hell on earth to me. I don't think I wanna do that yeah, but you know you might I don't know the first along in the pregnancy. She is the less likely I am to buy until after the baby. So just because of it's, you know it's hard on her. I mean really she's gone y'all got enough on your play that day on the hanging curtain, for god's sakes, so die it's ok to not by there's. No sin says you have to buy immediately, but in a way discussing interest rates and prices a minute ago. Now we're talking about your life, so I might wait till after the baby comes my way to your ah, just just for just for comfort You know nothing says you have to do it now and you have at time and will both have great careers you'll. Both my great incomes, you're gonna, be

debt free millionaires in your thirties, no matter which of these you do whether you buy before or after the baby, but fifteen year fixed where the fourth of your take home pay is going into the payment and you'll be right on track, get that house paid off or move up later on when thereby backward and all I can do anything to I think he's short changed himself as to what their income could be. I know his wife's gonna back off a little bit. coming out into the market. I think it's very poor They wait a year that they might be and that their income is is higher hm yeah? That's very possible, might put you into a different house or if interest rates, stay I'm an outbreak web seven percent during that year, which was probably what's gonna happen, and you know the only thing, this really gonna push interest rates down that I can see today is the fact that going into a presidential election year, and generally the sitting party, try to drive rates down, to say, look what I did that's correct and they

and we all. We all know that one. What you do in the two years ago- and I mean it's leathers ours- that but I I I wouldn't your breath. We have our own pals gone on record as saying when we at this inflation rate, where it is and it still little higher than expected when it went on when July report came in and so on, appointments. So very, very low. I him to raise it a couple more times: they're just screwing with it just to prove that not that there is a whole nother discussion of trying to trying to use hammer on a fillip such screwdriver, but they just because I don't know what the heck they're doing, but the it's a disaster, but all of that to say I dont know that european research come down, so you just a shot in the scope of your life, with a baby on the way when we're gonna buy tat. As in Saint Paul, minnesota high turn our you great. Are you guys doing better than we deserve? What's up, I had a clear question for you guys I saw hope affect the right growled the day, but

I am in a role that I really like I'm in marketing analysed- and I make good money alike, and I are in a good financial position you like, I can continue to grow. I just want to know about my ideas of the isle, of how I can best girl in my career If you good with that, I have the greatest ass man. I can the EU carbon sickness that, couldn't you guys sure so I was created here. Account of connection compatible and imagination they perform my passion of promoting, advocating protecting They publish my machine service by briefly assistance and protection man. So for me, that's just you know my christian faith. I really one of your serve other than impact lives. The young people will thereby life's too and so I feel like I get to do- that-

well that right now and I want to continue to grow in doing that as well as my career. So do you have a specific idea and advice? Well, let me say this years ass, a result, scream people, others really four types of work in the world. People work. Ideal work, process, work and then objects or things. Okay and your result screen people screams polite and So the question becomes for you to be very full You're gonna want to find work, that allows you to use the people skills. Could you have a lot of people talents here, and in very much love working with people and your motivational driver that mission result of service means I to see the results of my work come through in the vein of serving people? So you gonna, forget, people you want to help the problem that they ve got in the solution of the problem at high level. An incident what you're looking for, but I would not be in any kind of rush to leave a job you like, because

should a figure out. What is their path? What's the steps along that path to get to that work, I would guess you have a idea what it is and so One of the guys I wanna do is I'd love we're running out of time. love to get him on the show on the in coleman show and let me work through that with him in great detail as to what his ideas are because dave. I noticed when somebody calls with that type of question there in them, it's burning a niche in their lookin for confidence. Actual is a step forward in that direction. thankfully knows, but he's not sure this? does the rams asia. hey folks: this is KEN coleman. You know we're all trying to win personally and professionally, but the fact is, while we're doing that, we're getting older. So it's important to do We can t get healthy and stay healthy and eating fruit and

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gave. How are you guys good to talk you, how can we help I'd? So I've been listened to you for the past month or so, and before that I find real estate, but I beg you, disagree, who's gonna way out what I have I to carry the money market of a thousand in checking, and I have a credit card dead of night gathering, a core alone: it twenty one: They often, My wife, her only get paid her poor and we have a house that we owe for twenty six. On. My three rental property that have, I want one I'm on one. Twenty. Six and one ten but when it out so I will go by the real people. What do you think, I think,

should take all that money in that money market and knock out all of your debt and leave you than ice emergency fund in slow down on all this real estate. Investing until you get its familiar off. What's her card at near her court at she, gonna be paid often for months. I'm not sure exactly the number. You don't know where the balance is now now. I just know she's going to be done for months. Your payment is such a couple that couple thousand bucks and yeah yeah okay, so you can write a check today and be debt free. Am I understanding you right yeah, but then I mean you know I know you gotta get the boy I love have in their real, probably even haven't money command. I also understand rangy way well element how'd, you drop thirty four o clock. When I was twenty four

start buying real estate and by the time I was twenty six, I had four million dollars worth. I was aggressively buying it and I was buying really really good deals. I was buying stuff at seventy eighty cents on the dollar, and so I had good equity positions ah some of the property I put mortgages on, and I was renting some of it. I had short term notes on and I was fixing it and flipping it during time. That was a long time ago, this back in the eighties. Okay. During that time was another that that that come on in time. There is a real estate. Craze real estate was the answer to it, thing like it is right now everybody dogma roasting right now everybody in your age group to twenty seven. Thirty think it's all over social media, it's all over. Everything is like it's like the thing to talk about, like you, Who will? If you don't worry I'll, start right now. You know it deserves in autumn soccer, ballots everywhere, right hundred percent was that way, then,

in those days wouldn't have social media. We now have the internet, but we have these things called infomercials Would run at night and a guy with ship by the the side, see with the waves crashing in and talk about how wealthy he was and how he had bought on Israel state nothing down and you could biased upset for three thousand dollars on how to do it and that kind of stuff. There's a bunch of those characters out there, one of them's got a really nice winery now in napa del dato, and He was one of the biggest ones and makes a great battle align called the beast side note, but anyway, the body at the show I was in this group. There was a group of people that started in each city. There was a guy that went around and got a group of people doing nothing down or low, MT down real estate, real estate, investors, club of nashville club with about sixty people that we're doing exactly what you're doing and they were doing what I was doing back then. Ok and they were all buying with as little money is like it put into it and

King, the rent collecting the ranch and hoping that was gonna pay, the bills and so forth. Not here's, regional you that long long drawn out story no one from that club. Thirty years later, his rich none other except two guys. what's the best depended on both of those guys worked diligently to reverse the price. Session get out of that. I went bankrupt. While I was on that club aloft everything a twenty eight years old. showed a whole bunch of those gas. As a matter of fact, the guy that wrote the book called nuts. Down named Robert Alan went bankrupt, foul chapter eleven in so the the proof is of the pudding when you ve.

It is ten fifteen! Twenty! Thirty. Forty years later, you can see. Ok did this work then work. The ones they only once it work for were the ones that reverse the processing cleared. The death, like george just told you to do so. I I love? How aggressive you are. I love that you love real estate. I love roasting. I've got a bunch of it to this day, after I went broke. I made about your money later and I am sure, hundred million dollars a real estate. Now I think it's an excellent investment I like roasted, but a hundred per cent of our own states paid for show. George, I mean, I think, right I would stop buying. I would clear the personal debt and clear up my morgue Just all I'm, including my house, and you ve got the ability do this. Could DU jour go get her you're a guide? It gets crap dawn, but don't watch you're gonna out, you know you're gonna, outrun, your coverage and I'm that's what scares me with John I'm looking at it. he's he seen as cash flow from three properties. I see a guy who has eight hundred and twenty thousand dollars in debt.

In one misstep could tank him, but we are one life situation is all it takes so I understand been kind of story I'd with a pile of money on that means more real estate. see it as it, we could get out a debt and reduce our risk. Uncertainly and up all of these properties paid for in three to five years, including residents you can buy. Another Property a year for cash with cash flow, your great by doing that's what I did the second time, the site, in time I got the first ones really hard, Yet these three paid off that's really hard, but you get those three you get pure cash flow from no doubt at all you buy a hundred two adopt thousand property. Pretty quick, because you have enough cash. Just pop up, It's no balls in the right direction. You know that cash will. snowball for you. If you're giving in all of the bank, but one hundred percent the time debt risk, more bad, equals more risk. Less steady was less rich, a hundred percent at the top, and that's wiles guess what broken

well, it's amazing how you move a little bit slower right now. You can go much faster later on romeo. That's what happens when you. what are the debt and you have more cashflow? You can build a to save up and pay, cash what other perceive as faster, but the other percentages shift on you because you know. What's I got a couple five thousand dollars worth of prayed for real estate. I've got a serious damage, tourist cash at the bottom line every month and then some income money to that- and I quote or buy another one reach over and buy another one reach over and buy another one and that thing gets to moving and it does it feels like it accelerates well then, one emergency. The h fact goes out a tenant, some tenant vacancy you're, not freaking out. You have a great position. Arrayed, like I, don't know something terrible. A covert Well, don't pay their bills, nothing whatever await that actually happened. Oh yes, and then you and a victim legally, oh yeah, that a more tolerant moratorium on evictions and a panic as there's a moratorium on evictions and so

luck with that landlord. No, but you know how she paid for and when this is lifted, yo behind I gonna have a house. So that's what happened a couple em they try to place mr unwarlike hand and work out, I had one come to me. That was in a business that was in in a I had a strip center and they came to us and said you know we're in trouble. Can you help us? Please give us some mercy, we went yeah, we knew that and I we will you forgive the rant now like no but I'll, stop collecting it for now and you can pay it back later. So I mean we can just pay no payments for four months and then we'll pay double payments for four months or something like that work it out with you, because we're coming get where you are and I don't want you to go broke. I wanna be the guy cause, you go broke out, will you be alive and and pay me the rent and also, let's, let's work it out all let's go no rent for this month and we'll look at next month no rent next month? Okay, because we're still got, you know, we still got you

you're getting salaried, so show logic and fancied, I'll, try Have you any margin to do that because you had paid cash, only pray, much you're, not desperate all and we d of one turn at one time. The old lady single mom got terminal cancer, and you know I have the margin to be compassionate. Charge her and just turn that house into a ministry for a period of time, horrible thing, horrible process she went through and she make a sad end of the story. I know, but but she didn't have a landlord problem, because her landlord didn't have a mortgage problem. Hello see how this works. This is the ramsay show. from the headquarters of randomly solutions which the ramsay show where we have people the old, while the work that they love

actual amazing relationship, droid watch. All ramsey personality is my co host today, openfoam the aaa eight to five five to two five: you gotta drop it and we'll talk about your life and your money, William, is going to start This our often dallas texas, I william work under the ramsay, show they debate better than I deserve man. What's up yeah, I got a question about a pre. Now I've listened to a lawyer, cliffs similar. have applied some of them didn't buy. Basically, there's I own a business and have done well out some proper yes and the place of a large gap, When my fiance, internet world. Net worth property values of highlight one point for I'm lab, you are thirty and get on those

and and cash or private, like some thirty, what your business worth seven mill. so your turn man, dollar guy and She has a more trade, colonel normal net worth she's, not a freak like you, I guess you're good freak, though I like in such good your you're. The right kind of written animals are right. Yes, I wanted, I would get bring up. Ok, I don't believe in. Up. Ninety nine percent of people not to get them the only two, in thirty years of coaching that I've run at a situation where I wished someone had had a pre up was where there was a vast disparity between the two. people getting married and ninety nine percent of time. The problem does an end up being with the two people: it's not your fiance. It's weird dad got people in her family

that come out of the woodwork and screw up everything, and if she can just hold up the hand and go no can't I gotta bring up. I don't have I got nothing to say about it. I've got nothing because all of a sudden there like could lead Joe married way: yum yeah, let's go visit, you know This is an I'm. I am. I do here. That's an end and bless your heart europeans. I didn't see it come and go She did not think crazy was gonna, manifest itself that way in her extended friends or family and so the end and ends up screw up urals relationship. The preen up actually assists the relationship. In this case, show, but for everyone else, I'd say now. If you have to have a preen up to predict, protect your four dollars, then you don't need. get married correct now what happens if you know your fiance, your girlfriend? What does she think about it

that's an issue. You know she thinks that I'll. You know conquer love, my money more than her she's up through earlier at the beginning, wasn't thrilled, and so I basically in august and taxes are everything is common you know property once you get married, and so then it all gets split up. So I had pretty much. What I had structured was, you know separating everything and then maybe given her like clever. You were married if we were to aid what happened! You know she would give a certain amount per year. You know, I guess my next question I would not do that and I would to her that this is as much for her benefit? It is yours because of what I just described a few minutes ago, this avatar this releases her

anyone know. One of your friends are gonna, be suspicious that she married a gold digger none of your family is gonna say that she has bad motives. This helped her and if you want to restructure, do away with the brain up at any point in your life, you can do that. Ok, you can just go, back into the attorney the two of you shut down and go. You know what I'm are released five million dollars over here, where I feel you're upset thing on the number of years that that the year that that kicks in all or actually accidentally cohen, add to the roughest year in your married, then you will have that reference year. You know that I mean why complicated yeah and you can go in and change at any time, but otto- I think I like her being beyond such action with all of your friends and relatives for that matter, her friends

and she also gets to hold up the hand to her crazies that come along and go look as william stop, but but, and then now, having put the pre prenup in place, that's the legal move, then I would begin to run the relationship as if you own it all together. That's the key right there. I think that's the key that makes it all now good so no words. If I were you, I talk to my wife before I make a big business move so that these included, as is not just hey. This is all my mountain over here. You have no access, you have not yet you don't get to speak about it. That's not what were so. You were saying if this whole thing it's the wall, you don't get any other. That's all we're saying, but that's different, then you don't get to speak over it. Doesn't she you want her to speak over it, probably I wanted who can find a virtuous. Why, for her work as far above rubies her husband safely treasure and he will have no lack of game. I made

more money and more wealth. While listening carefully to my wife, as a whole mac degree and livable hillbilly wisdom now Ask let me ask another question on your behalf, so your business is worth seven million now the prenup is only covering the current Thank you cover recover. The ownership of the business period period what it but that's crazy, that's the way I build it, you can, you can that will you not to put a dollar amount on. That's interesting, because if they get me and now she speaking into the business to business is growing and she still is not there. and I'm not gonna lie. That's a tough one for me to use completely I'll help you she's completely benefitting. If this business is fourteen, may and lighter instead of seven million she's gonna be eaten that is right. She gets to fly matter, provided some happens, even the growth,

is no longer well, sir, but eight, but again he can go back and retraining that light can. if he looked up and said, look the reason this business went from seven million to twenty five million? Is she has really contributed? how you get is removed from the brain up. That is true. That is your that's true, Now, I'm gonna run it I'm gonna run your relationship in your household and all of your business decisions as if, is she was there when it all began the out- and this is my child, broad wife, that we got married when we were whatever guns. Channeled by drought, children, I mean, like sure, and I got married at twenty two we were like that'd, be true, too yeah, and so we were little children's children. So we got you know we were both dumber than a rock and so we'd grew. The whole thing crashed it. gruner down to gather yeah So there is no question about that. Yeah. She owns it. My rectory technically owns bethia, but that that enjoy being I'm gonna,

I'm want to run the relationship in a way that you don't lord. Over her now shut your income. She completely participates in those so we have an income from our business unless water, first and then it's not a man. Your boy did not manage it. All Aren't you tell him not only comes if there's a problem right. This is the rim visa look

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we'll make it right. Cigarette company visit neighbourly I'd come today to learn more transgression comes from Jeremy and colorado, I'm a big fan of your show and loved the videos. I'm married. We have a one year old daughter. I've been renting. But I'm contemplating purchasing a house, my grosbeak salary is two hundred and forty three, thousand dollars take home pay after one can insurance, is eleven thousand dollars a month. We are paying we two hundred and rents? So my question is: how do we know already to my house and how much money do I need? by buy, I'm thinking, I'm trying to think through the down payment and mortgage payments, but other other expenses during the buying process and monthly that I'm not thinking through, and I want to be prepared. great question jeremy. So when it comes to only Home and buying a home, we always tell people to be completely deaf free and have three to six months

spencer saved in the bank, and then you can move onto its called babies. Have three be so. Gonna, do jeremy is figure out. Ok, we're gonna try to get at least five percent, down payment, ideally more than that twenty percent would be incredible, because you could avoid p m, I and other types of insurance and these fees that you're asking about later, but recommend they say you're five, ten percent down and your play mortgage of being no more than twenty five percent of your take him pay some oh, we kind of around what you're paying prefer your room right now, honestly, is what That being now, because the your taken has taken. pay is eleven thousand after fora, one gay and insurance twenty five percent you take on pay, not counting for a one gain insurance issued after tax take I'll have to accept her yet yazoo like him, through under forty three thousand of twelve thousand bucks a month, so you're taking place. Now eleven thousand, you know your take But your your count in full

Why tat turns out that after taxes is nowhere near eleven thousand is probably more like fifteen and show a fourth of your take on pay, not counting insurance and taxes with a properly with an old tax amount. All we want to take out taxes, ok and then twenty five percent that number. So you make a lot of money. You're gonna be fine. you need to decide if you want stop you're following k temporarily to be able to you even more varied that name I'm up, but that baby step three. Be it's ok to stop that from now on at twenty five percent take home pay formula that does include like h, o a fees insurance. All of that yardage within that french point for taxes, insurance on a tearaway, okay and gives us the cost of owning the house. Not your electric bill, not your water bill our staff and so on, but it just or try those not have you be house pool

where your house payment is a huge percent overtaken by, but in your case you probably can go to a rate of four thousand dollar house payment without trouble. You're gonna, be right in your slogan, be right in there and on probably for maybe maybe maybe, between thirty five before the summer right in there and that's on a fifteen year. Fixed rate this big, a down payment. Is you can scrape up before you make the purchase? Now we ve got a great blog on real estate, how much money do I need to buy a house in it's in great detail, some of the stuff we just covered. Ah, at ramsey solutions, dot com, we will put the link in the show notes for those of you. Podcast and in the description for those of you on youtube and you'll, be able to pull that link up on and reiterate what I am ready to buy a house because air

ones, running around right now, like a trigger their head cut off? If you don't know what that is your learn it from your country grandmother, but if thereby running around like her Is he right now thinking? Oh, I gotta buy a house, got a house got a bauhaus got, buy a house, gotta buy a house, I don't buy a house, I don't buy it, oh god, you know it's all. Ways been that way, but on the show for thirty There's always been people with house fever, lose their minds and they go the big old debt. They got. Big car payment ya got launch come another ears and then they go by house and there broke and they can't figure out why the purchase- The home was not a blessing because you bought a house when you're broke. That's why, you shouldn't do that. Shall we are around ramsey, just too conservative now we're just reasons or freakin common sense, a little bit of restraint, in a culture where no one ever tells anyone know for anything. No you shouldn't by how you're broke get yourself. Were you ain't broke

and you buy a house, and then it won't be harmful to you, it'll be a blushing, it doesn't affect me. I don't care if you do it or not, Leave your ask me how I can be a blessing to you can make your life better work. To tell you that and that's what we ve done, how much Do I need to buy a house? It's a great blog at ramsay solutions, dot com in the show notes or in the description on youtube, dont misled and germany article read that too that'll get him amen. Tyler's in eugene Oregon, a tyler welcomed the rams issue, Are you guys doing today better than we deserve? What's up on my wall? So I have an electric on local contractor and my truck just busted our job and instruction, it'll for a very long time seems like every two years and dumping five brand into it to do that gap, its trade or whatever, and they just did it again

and I'm just wondering if I should just fix it or bite the bullet and go get a new truck or depends on what kind of bullet you're biding your game money yeah. I got enough to pay forward. The tightened up. for how long we, how expensive a tyrker you gonna buy, I'm looking at seventy grand because you just spent five where knowledge truck keeps the new problems are now and I'm idle. I have no other means for auditors, land locked, her understand I'm, but I'm just suggesting sure that you're overreacting, Maybe you need a new iraq, but I don't like you need a seventy thousand dollar new truck, how much you make tyler year after taxes without on the various but, alas, like a hundred, then what are you? Wire houses are commercial buildings. What everything in those areas, just mostly houses near some, not a single part

however hard you to hire warehouse based on the truck you drove. Now they are all I care about, you showed up and plug starvin were at work. showing up part on with your brother. I think you're trucks laid down other just trying to get rid of it. But you need a seventy thousand. Our truck. That's construction site, bull! Crap! Let me tell you the broke people are on the construction sector. people with no trucks yona, the rich people are on the construction site, the people with old trucks. So it's still worth it to get a used truck just yeah. I just feel a bit. Not at all a barton get rid of it. Get used to actually What does seventy thousand dollar trucks gonna be backed into with the gas skids the first week, you own it you ve seen it happen? I have to. I grew up in construction man. I don't make the stuff up.

I been there. I've been standing on the site when this happened so now gets you know the truck you got is probably worth five grand is probably a piece of crap right. I could sell it for twenty still really decent trek beyond it's still. It's just like a collector's to cook. It wasn't supposed to be a work truck, but it turned into a ok but twenty thousand dollar worked truck is an excellent truck compared to what you have right now as far as reliability. When you agree with me, yeah just use car scare me since this has been. Ronnie shows you drive an awful lot at used, yeah yeah. When you ve been robin your new drug for a year the called used go, then I saw you maybe maybe twenty not, but you know, let's, let's go, I'm I'm good with thirty year pay cash you gonna break, from by already on trial and sell your truck for twenty dad got man your life's awesome all we're out on that ten new. Would you think I should so my truck

keep it up. Backups allows. How would it simply required ice? Ok We all agree. Is that what you said it's like? I collect it's not like I barely like we are only one thing: what is it harley davidson? A thrifty, ok, now charlotte. Ok, your word not a card, become a half way down the road and now, at one point, eight percent of cars or actual I have them break it's just a matter of. Can we get something in this idea that a used car one hundred per cent of the time is going to be awful? It's not there's great reliable, used cars. Trucks too, don't buy a worn out used. Work truck, buy good one for thirty k. That's been gently used and a little lady but from Sunday I mean come on this empty shell doktor john aloni rams. Your personality is my co vote today thank

for joining us. America were so glad you're here, thomas in greensborough, north carolina from the ram show Tom how ya doing thank you dig mccall sure. What's up, I somebody a right to the point. I mean financial peace I got every dollar but Maude dilemma is that I share custody of my son. My schedule I me to have him on the days that I'm off, but it from going to sue getting out of debt as quickly as I need to it. Would not me having to give up some of those days, and that is the part that I'm struggling with. How old is he he's ones How long have y'all been divorced over a year, I'm so confused

So he has one and you've been divorced over a year yeah, so we we, it happened all kinda the same time. Yes, sir, so about the same timeline. Okay! Yes, yes, so we'll make him the same age as the divorce and that that helps me a little alright and so all right now. Ah, what do you do for a living? the truck over the road nom local, show you workin forty hours war, with over time, I'm lookin out about ninety every two weeks: forty five hours, yes, sir ok and how much debt do you have also total debt is, let's call it twenty seven k is twenty six seven to non then, and what are you? now, sir, my take home is sick. Decay. Mercosur

typical day when you're driving truck, not when you're with your son. You go to work at what time about ten. I am. Ok- and you drive then, until about eight p m, eight eight p m yesterday: okay, alright they or forty five hours. Yes, sir about on the days. You don't have your son you're a fifty fifty. You said yes, so, yes, sir, yeah. What days of the week, I'm sorry say it again. What day of the week is that, so we work on our two to three schedule: okay so it rotates every every every week. So, basically, in a two week period, I get him seven days out of the eta that two week period. and under Stalin was do I want to go? one of my days and have a baby sitter have a family member watch him I go and work. If I was, you is.

I would be pretty intentional about get up at five. P m on the days are enough to be until ten and drive, over and lived in the morning. so I am no one thought also as well go on that kind of tax into the what is radically different sorts amazon flights okay, alright she's doing very soon you're doing that in the mornings before you go to work, eat vs or so in a strange way and Dave. You didn't done this longer than me on this particular question. If this is in I'd your home. I would to it if you're you and your wife and your boil it inside and see how I would tell you hit the Ass work, seven days a week and get this toy seven bucks for seven thousand off your chest. Yes, at the fact that this is bro up in this way without rapid a one year old develops six months of no dad. Did you not that america is glaring too much?

I'm with you. I'd rather slow. The roll on paying off the debt and make sure I've got that time with my son, because that time is precious. What is the twenty seven thousand in debt? What candidate. the ask. the twenty care that is car god? Oh, might sell your card. Your kid Donna No, you don't you you don't know. Could you didn't you had to ask what you have to ask you didn't even want to tell us, because you knew we were going to say what you already knew. You should do it your kid will trade your car for a kid, no sir, so you're stupid har this week. What kind of car is it tom to haunt the vivid? Oh, my god, don't try to civic for kid for sure tom, not even a really cool Part I mean come on. He said that if it was like a mercedes well I mean, if I mean not, if you know vintage camaro, I'm gimme upper, oh, my god,

No, I'm not I'm getting around on. But this right will you got this figured out. You thought through it, get you a one I was not a car. Take area one euro and get you bought out of that work work and live on beans and restoration veins, and do not miss a single day that you have available for this child? He is the most important thing in this conversation. I will a farmer who, as being a good dad, you have a good heart. You are aimed at the right thing, you knew you needed to do that, but you're trying to make at work and keep the car, and so we get to tell you the classic ramsay show line, sell the car. Yes, sir, are you gonna? Do it? Yes, sir good? How old are you tom, I'm thirty, two and you're a good man, his kit, a kid is lucky to have used that any here's. What david are also giving you and about ten year? is he ll be he'll, be eleven who make your real mad and in a fit of re

did. You can turn in staring directly in the eyes and say I saw a car, for you gave up a civic for you and then he'll be like seriously and you're back yeah that didn't go as hard. As I thought I was going to not much of a flex yeah thought that was going to go way harder than it did. Man I gave up on civic. I just don't think that could leave your mouth. The school counselor know. Next time we met the civic brother tom you're good guy. I'll return to your question is on your awesome brother. Now, here's the thing folks. Very seldom are we as boxed in and trapped as sometimes we feel like. We are It because sometimes there's a simple thing: you can throw it stick a dynamite right in the middle of it blow it up and oh well, look there. Yeah there. It is

so great, but I do think it's important if, if you're in the household together and you're. Not me Can I contact everyday, but there is passing theirs. They see you every day the amateur go running get this thing done because a long term stress in your household, namely worth it that stuff In that case, I would sell the car to a hundred per cent worried about. I would drive when you're ready to go if I'm worried about being there for my one year old one hundred per cent, I'm not riding a car for that, there's not a circumstance, no, not at all, no, not at all, not happening Johnson Portland on main john welcome to the ramsay, show thanks so much for taken. Like all sure, how can we help? So I've been listening for awhile and loving show my wife and I have been doing really gotta, paying down everything We all right now about a hundred seventy one thousand dollars and a hundred feet.

thousand about is on a mortgage in the house. We live in an fifty six thousand. Is mice loans which I've actually paid down from a hundred eighty thousand dollars to job John resource. So we're at the point now. Are we don't do anything else? We owe our cars we own everything else. We just we have about hundred thousand nodded, equity in the house. We live in, but that's what it's worth now with a hundred fifteenth out nor balance and we actually paid off to property that we owned two years ago, when I opened my own business and tripled my income, I'm so we're at the point where we'd been living are letting our grandmother lived there as kind of like a mitzvah like as a as a good ready to move out, because she has dimension. Unfortunately, and the market is fantastic, obviously, especially in maine on price values have gone up in our staying here. and we don't know if we should invest a little bit of money into the property and continue to rented or to just taken?

at its now. How much is a little bit of money that what's up Do you work? What would you invest into? It wasn't need investment because it Haven't I grandmother moved, and what do I need to expand quickly? Probably sixty thousand. I know not what sixty thousand adjusted in london. Yeah I got I was thinking it would take years to get back. What we can you can't you can't fix it up for a few thousand dollars and get it going. They probably need to sell it, but otherwise I try to keep it cause. I love the idea of keeping a paid for rental property and knocking out fifty six when you've had all this other success. But if the houses are going up, people are going to rent it. We're not going to turn this thing off working and golden fixer run, allows for sixty k. Now, if you spend five or ten on you can probably fall out of it still interested in low paid out by christmas. Let's go. Do that, keep the room. But now not sixty the rams, asia.

Hey guys it's rachel crews, sanjay war shaw, so in my family we ve learned how to make everyday moments a priority like saturday sports games, recitals vacations and family reunions. Yes, in with kids, it is never too early to start planning for those big moments as well, like saving for college get J. We both know that and between all the everyday moments and a big moments, life still happens. My car will still need repairs. Your kids will break something in the house and we might spend more than we like to replace the roof. At some point, bat for every single one of those moments. Putting them in the budget is key to building the life we want for ourselves and our families. Yes, that's why we use every dollar. It's the simple budgeting at that helps anyone plan for their money, interact their spending. They can save for things that matter most the big moments and those every day moments you can download the app or check the show notes for the link and create your free account today.

in common ramsay personality is Michael vote today. Thank you for joining us. America were so glad you're here, open phones, a triple eight, eight to five five, two to five jam Isn't boy see idaho. I janet welcome other She shall he can indeed with pleasure, there's two. How can we help from current today, discreet How will we agree is my husband can get ahead of our bill. If you like everything a month, we pay our bill three weeks after the do day and then, a week later. But again, though, we ve tried, but you know, but im just trying to get ahead- and we just can't seem to get that curve or I'm sort of con to see what tips and tricks you could provide for us, what your household income is about. Seventy five thousand gross

and how much debt do you have not counting your house? Thirty, nine thousand on one, aren t alone with twenty four thousand five thousand and credit cards and nine thousand are ten thousand the rv travel trailer on a trailer, and you make seventy five k a year, that's right in between the book, and I so where do you think the money is going well. I know that it was going to a lot of eating out and I actually just got my husband on board about two months ago. You, like the babies, that I've been doing it. Probably by myself. We're like a whole year span are presented in feels like actually we've been on this momentum of just being behind for like the last year and we're just sick of it. I'm tired of knowing, as though I had him stepping in and around the finances as well as

Really you of being careful money is going, and so I've tried for the last two months, which has been you know kenya receive a week and because we get paid every week, so that kind of show, if I shut down with you and your husband share the weather. allah pad at the kitchen to I, wanna should okay. This is what you have coming in this week. Listless member where every one of those dollars is going to switch have coming in the next week will map out wherever one those dollar you going less map out, you should have enough with the numbers you gave me we should now be certain but but you were but you're not doing that night. Blurred is ok, so you need a new sit down and you can jump on every dollar, but the number one. The first thing is the two of you have to do this together, not turn it over to him because he does. He can do it. You can't do it s, not true. Ok, both of you to gather need to do this because what's going

have to happen. Is you're gonna have to decide not to do a bunch of stuff you're doing now that does that doesn't matter, as much as getting in control matters right eye getting control more than I wanna go out to I want to get I want to get out of debt and have a life more than I don't want to go on vacation. I wanted control more than I like this travel trailer. I want to get in control more than an arms. In tired of living stress, distress, distress, distress, distress with no hope field, like a rat in a freak and we'll and So here we go of you are saying that and then you put numbers that- and you say: ok this week, friday we get a check for x, the following: Thursday day we get a cheque for why the following saturday, we get a cheque for z, and you write that down in your plan out every one of those dollars and where every one of them were going because the water, is due on the second week, the house payments. on the first week there

stood alone. I must do in the third waken we're going to figure out what's coming out. We're gonna take this much for food, this much for food, this much for food in the four different weeks and we're gonna locate every one of those bills to a certain weak and some of my cross weeks show that we have money You take care of them and ever dollar has an assignment on paper on purpose before the month begins, we agree on and spit shaken, pinky swear and then wait do anything else with money accept what we freaking wrote down grant and We ve been doing over the last few months, but we can't catch back her. We can get us all mentioned. You write it all down and you don't have enough. Now we do have enough, but it seemed like its dawn every single week. If you wrote it down to have enough, you did something else other than what you wrote bell more. I guess where recycling is just like a return credit

pink. We get our bill everything all we know whatever will amount to repay it once a week and about we so many little ones. It seems like we just don't know we're not all written down or I'm yeah. We need to prioritize them better, every one of them on paper on purpose. In a certain week. This is a weak one bill. This is a week We're bail this week to bill different bales. Have for weeks and they all go with in the income of that weak and then, when the comes in. The check is already spent, so you can do anything except what you wrote bound. You are managing to the budget you're. Writing it out as a hypothetical and go on doing what you used to do right and you're not focus but listen, jack I'll, tell you how you ve got it I'll get? You had done? What I told you if you want I doubt not getting ahead.

you're gonna hit, assumes you do that you ve got room in this budget year your disorganized and chaotic, and when you give every sing, If I pay you a hundred thousand dollars a year to pay these buildings. Actually on time and you no emotional ties, emotional tie to them whatsoever and you would look his family, that this decision, family over and bushy idaho, and tell them to quit. Gonna freakin restaurants kara tarred. You are no whining allowed. You're gonna pay them. Can build on time. If I told you to do that, you could do it for some one else, my its cause not right. Sixth grade math, you can do this, so you have got to very detailed, very intentional then leave the detail. Don't write it all down and then go do which used today, and so I just I I didn't feel like cooking. I don't give a crab go.

Get some leftovers. Are the dead gum refrigerator? That's how you do it, you can. I mean we we have that you just gotta talk to your whiny self, and so no one herself I've done that marcel mean churn. I've done it each other. We know what it feels like it, but you have to go. I want control no more than I feel tired tonight, you know and that's the biggest thank you the phrase that comes out of her by his mouth by the way before they got to eat or before they hit the fast food and get dog food taco bell or whatever, and so it just it's horrible horrible vow Oh you, it's horrible nutrition and it's out of control spending, and so the issues yet she you gotta, write it down and get on every or download the app and a table, I'll, give you the upgrade I'll give you the premium. Every dollar were attached to your bank and we'll get start on that journey, because what you are desperately need is a detailed budget and here's how you do a budget folks

you give every single penny a name. Every bill has a weak allocated in every dollar called paycheck planning and you plan out each pay. check for the month and you and your spouse. Both look at every dollar is assigned to saving to giving or to a bill period. Every single dollar there is no missile, there is no unwell. Fifty percent of my budget is a non allocated. Bull crap allocate Every time in every dollar own, a paycheck planning ever dollar has a name beef for war. The month begins august, just coming where's your honor money gonna, be it's gonna freakin disappear. If you don't tell me what to do it. leave and go to people's houses, who tell us what to do, and then you ll say stuff like that. Get poorer in the rich get richer. Yes, they do because the rich tell her money. What to do! That's how this works,

it answer. You gotta get on top of this stuff and lean into it ever dollar has an assignment. You stick to it. You agree on it with your spouse and you do not spend a dime. Unless it's on that page on that ray dollar app, not on there and it comes up and it's a surprise and you forgot it. You gotta take something else off because if you put manner and you're already spent it all now, you're in overdraft and now denmark and I can't seem to get caught up well, you're, not going because you're not living your plan, do the plan alive the plan, right. The plan live the plan. Do the planet The plan live the plan and its your plan by the way you decide where it's gonna go, John, you what I'm doing a model I said, I'm not going on vacation, I'm selling a stupid travel trailer. Everything else is for sale, so much the kids think they're. Next we're going to take extra you're, getting control, because I'm tired of being stretched out. That's what I'm

What, if I'm in your shoes- and I did it by the way this is the rams issue- from the headquarters of randomly solutions which the ramsay show where we now people The old, while the work that they love and care actual amazing relationship, george campbell ramsey personality, co, host of the uber popular smart money happy hour. He and rachel cruz do as a if cast on the ramsey network, to use my co host today, open phones here, as we talk about you right in front of you, it's your life baby. Let's talk about it. The phone numbers triple eight, eight to five five, two, two, five, that's triple eight eight, two, five five two to five anthony starting off this hour in san francisco, Anthony. What's up

empower you better than I deserve. How can I help yeah? Well, first of all, happy early father's day and and I'm my wife well, I started listening to you about a year and a half ago- and I got my wife re recently- new wife like into view of the wilds over both on the same plan have the same head on and my question is: do we want to purchase a house within the next year or two and we would be. Only we have right now is student that that we ve been saving over the last year, and my question is whether we should pay it off all now, but wondering if that will affect our credit score with china purchase a home within the next year, george, good this year- living this out have paid off the loans and I bought a house without a credit score. So the question I think

asking, is: how will it affected in the meantime, if I'm in that weird and between, because when you pay office, loans that all of your debt? Yet that's all before he goes on. Let me ask a question: do you have enough money in the bank right now to pay off the student loan? We do we both do. Ah, okay, so you could just write. A check can be done today. And then you want to buy a house for about a year from now. Correct. Ok, make assure him a factory. Ok. So emergency fund, will you have that in place already He or will you need to build that up after you pay off this debt yeah, so I get that kind of scramble. A total student debt between both of us is about fifty six thousand and we have about a seventy thousand in our savings, and I also ah, we also have together, are about twenty thousand

an individual account without schwab, co zeno leave you with about thirty four thousand. If you cash out what's in that account, then I'll, be there Four thousand: let's call your emergency fund somewhere as fifteen to twenty four, you guys three to six months of expenses. Yes, that's right! Ok and then you get a little as starter downpayment fund with the rest of that money to go about Forty thousand torture, downpayment and you got a year to finish that saving up right, yeah! Ok, we're tell you to pay off your student loans to day when you get up, can I go honey, we're gonna be dead, free watch, bushes, button. okay? Okay? Now? How are you going to get a house so then, and six to twelve months after you pay off your debt, that credit score will disappear once you close all your accounts and then your credit score will disappear, Now, there's a chance, you get the house and they run the credit and you still have a credit score and it's probably still gonna be a good score and that's fine. You can still get a house that way, but is really no! Your credit score is not gonna. Go

on to you know as six hundred all of a sudden, because you paid off your loans, you have any credit cards open, we do, but we pay it off close to them too much close them to that'll. Keep your credit score open. What we're trying to do is make have zero credit activity which will make your credit score completely disappear in six to nine months. Zero credit score set you up for manual underwriting, which is where they just check your job. Checker deposit like I used to back in the day when people had, since back back in the day when people had to actually qualify for a mortgage and a monkey can give you a mortgage now by looking at a number who credit score coup. And yeah, but what we used to actually make sure people going to pay the bill and stuff, and It's called underwriting the loan manual underwriting, as was called now, as opposed to not underwriting it and so that's what george dead he went with a zero credit score into churchill. Mortgage

a mortgage on his first home, and I gather right yeah and there was Anthony is going to be so many friends and family that go you're crazy. It's going to be so much more expensive! It's going to take forever. It's going to be impossible, don't listen to them they ve never done it And so I'm telling you it's not gonna, be that difficult is not going make a lot more time, there's gonna be a few more extra doc, men's, and as long as you stick to that, fifteen, your fixed would at least ten set down you're gonna, get a really great competitive interest rate with churchill mortgage. Not all mortgage companies not to do this anthony. Yes, you can't run over some stupid but place like bank of america as they won't miller, but from home and islander, so they won't do it. You have to stick with it actually knows what they're doing you gotta. You gotta get with some like churchill. They they be cause I endorse churchill for almost thirty years, and because I've told people are not borrow money, churchill has obviously system wide, learn to and managed their whole process to being able to do manual underwriting gotta, lotta, ramsay people don't have a credit score because all of us-

read of our dead and our credit. We dont use credit or debt, but not if you keep us to progress large open. You may end up with a six fifty in national screw you up, so you can't half but do their anthony. You decide issuer! Isn't you You got a lenient and push all away through so issue. We'll get you in a middle ground. You don't wanna, be and not don't suggest that you're gonna do than just stay and that on the other, this idea, where the score is hilarious to me and once you get the mortgage theirs no reason you would ever need a score at all. Even I don't need one for the mortgage You, though, I recently will hang onto it as their wedding cake. What, if Dave, what if we need to go into dinner? If I was a thousand the banking business, I wouldn't vienna thing said: you need to go, get a credit card. So you can build up this number so that you get a car loan so that you can build this number so that you can the student loans, so that you can build up. This number show that you get a home mortgage because you need to

number and I would teach you to worship at the altar of the great psycho, because I would tell you that fight where's your great provider and that your life on the plea, and it will be somehow substandard. If you dont have this number and almost black revelations yeah! This is conspiracy, level theory right here, and it's the only number the we obsess over more than our weight, those three digits, and we are so obsessed we brag about it, nor can we the culture, not you and me. We dave- and I would be a really sad you only around us over wait unless its lack of it. I don't share those numbers dave and my at a score. I share some of my numbers with you, but it wouldn't help with you that one out take one for the team to condone I'd sentiment, but a really is a wild thing that our culture has become so obsessed. So here's that interest in I have to teach this like and have for thirty you could get a million dollar inheritance. Your psycho score doesn't want change one penny. It is not an indication of financial well, being our financial health. It's an index, Mathematically, the algorithm by we

they used the math they used to build. The psycho score is one hundred percent based on how much you play casey faced with the bank. If you don't like us, what the bank, if you're, not make an outward bank of america you're, not getting a. I score should not hard people, if you, if you If you get a million dollars a year raise at your office today, everyone will wonder why and your psycho score will not change one point and you won't care about you. Go score that any kind! One point is not an indication, your wedding with money. You can be broke but deeply, that, and I have an eight hundred credit score which about a private matter of fact about their own way to have an eight hundred credit score. This is the ramsey show We know, there's a bunch of you out there that our new to this ramsay stuff. We know that because our

greetings from ratings, have gone up dramatically, and so, if you're brand new and some of the stuff we say is wow, it's ok. It sounds like inside baseball like it's. I will speak in you, don't know what all the words and the vernacular means. Well as like baby the ups and downs, snowballs and all that kind of stuff? Well, we will help you jump in ok, just gotta ramsay solutions, not calm, click on to get started button. It's a completely free thing, this work, either where you are and what your next step is, and you ll begin to count to get the vote I of what we're doing the process here and I will walk you through it again, completely free ramses. Illusions? Dot, com click get started coal is in Wichita Kansas. I call welcome the rooms you show. They dave I'm proud of be here with your but your time honoured to have you, how can we know well messed up now.

we are in the whole big time and then I got some big downward. Were on our way there and I don't know what you attack first, I guess What we're going to do or sell in one of the vehicles and it's it's got some problems that are coming to arise, that I've noticed and are sorta going to sell that one or whatever money we have leftover, we're going to save a thousand of it for our emergency fund and you can start applying whatever else we have to the rest basically what I don't know what the deal is like looking ahead to the end of this month. Gonna be in a red, and I dont know what not to pay and still be able to live. I guess:

I don't wanna- go behind on anything but its inevitable. I'm pretty sure I'll. Do you guys. I'm thirty one, my life is thirty. You been married five years on friday, which are household income, as she it didn't hundred and twelve thousand okay. She make good money yeah, I mean hundred thousands. Now, no slouch in wichita kansas dude, that's excellent yeah! So what what's causing the problems, Well, we think were right now. Is that your christmas mercy but I forgot about and we ve got an almost one year old the hospital

nine, yellow in atlanta, then, payment plan came out were drafted my account and after I'm just trying to catch up. I get on that Then one thing after another time the tire blow out on one that vehicles at any time in other respects the right. Now how much? hospital will. It came out of your account One was a a two minute or two hundred and twenty two de two hundred and twenty dollar payment. We might get two hundred and fifty thousand dollars a year to earn twenty dollars. Does not put you in this mess What are the dining room? Where else you have, though, with two vehicles right now one of them leo. Forty five hundred on the other one way of sixty two hundred on the six. you're gonna die one's own or sell and by the way,

we ve got. My wife has around thirty I was in and didn't learn a lie or credit cards and is right around fourteen thousand m in the house a hundred and kissed and husband. I the house, worth. However, right now I have another, is there anything, but I'm thinking that I could get her the one hundred and forty to one hundred your house payments not like insane. It's not like you guys live in a half million dollar million dollar house. right where fifty dollars a month gamble out so call I mean you know,

I understand this is its overwhelming and there's a lot of numbers here, but also this could work. So my question is month to month: do you guys are you just as your lifestyle just completely out of control, you guys just spending a tonne I know without though you got a lot of money going somewhere that you haven't shown us yet your own daycare, two to three hundred a week during the day care what your wife make a year. She makes fifty q. Does that part? twelve yeah that part of it yeah. I like on a sixty two. She next fifty two k, the only I can think of, is you're completely chaotic and disorganized to the point that you're out of control Are you the only explanation, because there's nothing there's no, In glaring in these numbers are kept waiting for the fifty thousand dollar car and it wouldn't hear

I kept waiting big that was packing these smack of this budget in the mouth. it's not here! So the only thing can come up with. Is you guys must be some of the most disorganized complete chaotic people that have run into an awhile. Yes, I would that were jumping on the dares? We want to get it back, fair, I'm not picking, I'm just trying to help you trying to figure out where this is going. So I know how to fix it, I'm not picking on yoga, because I'm I get that so. Ok, the group that bad news and that's good news. The good news is that you're, the problem, the ban this is where the problem, so we can fix? They shook I really quickly. So a detailed. in depth game plan, were you tell every dollar exactly what to do? every single month and you and your wife pinkish words shake the you're, not gonna, break in. With a single penny. Accept what you agree to on this hard

war plan we'll get you out of this really fast you're gonna turn around so fast and call that planners. You're, not you're, not going to eat. You guys are amazon except the house. You're not shot like you're doing your literally going around on prom you're, doing nothing by catching up in his bills, because that there are grown up you can do this call em in the numbers are here than like: no, no vacation able this summer you're broke people. Yeah, no eating out of your programme. You you'll see the inside of restaurant. Note your work in their as your extra job, the cleanest freakin mess up. Ok, so this is put yourself in financial boot- can cause here's the thing you to or not dom people If I hired you instead I'll give you ten thousand dollars to look at these people's budget and tell them Finally, what to do with it: you'd

down in an hour and a half year. So here's what you do you take your food first lights in waters, racket pay the house payment. Third, you pay the car payments Worth you put gas in the car fifth, you don't need any clothes. You got enough this month. You ok buy clothes only when there's something that completely about to fall off. Somebody or whatever right now you get people got closure closet four days. I don't don't talk to me about style. You're broke people, ok, and so you know. This is what you do. This work sharing and I did and so could turn this round really fast? We call that the four walls you take care of the four walls of your house, the necessities of life, food, shelter, clothing, transportation, utilities, gas in the car, is there anything else. Can wait? Wait won't have to by the way when you start writing this out. You don't have room in his budget to probably pull this off,

I don't hear the day. Much did you not take any making payments? Are the stupid stood alone, if not affecting anything? If you just saw the credit card, I mention that in the trash for one month, whooped adoptee, oh, I hurt macro, Well, good, you'd, only credit you're, not really good, where that correctly so, if you go out and honestly I mike where you guys are: there is almost dislike radical behavior change that needs to occur on a very radical scale cause you ve been on one extreme, unlike in you have a one year old, but honestly I'd say you know between now and July do over each at night for four months, just just doing some extra like you, I need to let us not get who breach the little deliberately job says. I'm calling you and your wife honestly shocked us. Firstly, only very time british courts of cars to time an automaton arsenal pick up organ

I spent a piece universally ya: go through the financial resources, not to say you, you guys got that's. You could do that you're gonna every dollar budget out tonight you and your wife shut down and say: ok, we can eat. We got the money we can do that we keep the lights on. keep the house payment. Pay you can do things and the rest of it. You just gotta fight and you can do this. The warshaw ramsey personality is my co host today, peters witherspoon, canada, high better welcome, but the ram show, I think, you're taking Michael sure. What's up, I'm so I'm currently entering my third year of university, I'm married I'm as me and my wife have been very financially independent and we're both in school. We both foresee being able to pay off for our school or just through hard earned cash a lot during summer jobs. Wonderful

but we ve been doing and we kind of realizing. You know that their student written canada, we don't have interest, understood loans. Are we not start paying until six months after ground? and so we are wondering I we're thinking out maximizing out the student knows we can take out and putting it aside in a separate high interest sings accounts, maybe even and invest in sicily, Short term bonds and then, when we graduate or take all that money out or pay off her student loans in full, and then you know, keep the keep the money that we made from from the interest hundred. My question is ah, what what I know that you're very adamant about staying out of debt if possible, now, don't get undressed very you're, not not possible, understand more about staying that period right, but let's go get. How much you're talking about doing much money.

Me so about about fifteen thousand dollars a year for me. I'm alive thoughts about thirty thousand dollars each, so sixty thousand awaited.

Yeah look at and and the bond raters, what about five and a half percent? Okay? So three thousand bucks and that's what you're going to crater? That's what you're going three thousand dollars mm and what's your degree in finance, finance a m and you're in your third year of finance degree. Now it's just getting bachelor of commerce. Currently at majoring I am majoring in finance and going and going into the third and have have you ever had a statistics class yet not yet not yet. Okay,

to go ahead dave. So here's what you're missing risk the only way your programme works is if there zero risk scenario which does not exist so the. measure calling out has been doing this for thirty five years? So I've seen every body do every possible stupid, but thing they can do in their lives or have horrible tragedies happened to them in their lives that you have not anticipated or oh, maybe the bond market has a problem. That's never happen has, of course, that happens. All the time And so maybe you don't make three thousand and maybe o heavy? Did you know that boy go down in value when interest rates go up, denotes an inverse relationship. Yeah yeah

so you're gonna take out a sixty does not alone. With sixty thousand hours were the bonds interest rates go up now. You're bonds are worth fifty thousand dollars, but you have to repay sixty thousand dollars. you know valued go down when interest rates go up, it's an inverse relationship, the main market interest rate, someone arousing interest rate environment areaway. Does that that's called risk? Ok, So your plan is not good. Its left out key components, which makes it really really risky and naive. That's problem number one with it problem number two with it is. You are trying make money doing nothing. Making money. Doing nothing usually will cause you problems, so don't cry

make money doing nothing problem number three is, I'm pretty sure are not positive brain just about positive that the government of Canada did not come up with a student loan programme for Peter to invest the bond market, meaning that you are misusing these funds, which is not here. illegal, but it is at a minimum, unethical or immoral. I agree with that show and lots of reasons peter to not do this lots of reasons you did not answer. Risk. Another way that you can, if you ever faced with something like this again, the help feel the risk is just take your posed scenario and multiply like ten or a hundred x and shit? and make you gonna throw up a little bit. That's so good! Then you really see the gravity of Would you do this with six hundred thousand dollars? If you could do it, would you do that? Six million dollar, even if you could do it? No so now you're starting to feel

Oh god, something could go wrong well, I could go wrong, but dude something could go wrong and let me just tell you it's not something. Could it's pretty likely to absolutely it's pretty likely to show 'em yeah yeah. It's just arm in all four three grim: that's my thing is not even a lot of money. I'll deliver some peach little different from three grounds for a year which is not allowed, There is a lot we were playing with a barrel full of snakes for three grim hope and not get bit so there's the problems with your theory cause your theories empty its missing entire sets of variables when implemented, make really unattractive and you forgot the ethics in the morals, part of it to which will also lead to a strike and get you into problems, so they that was,

he always expect the eu to really go into one of your Dave bodes well, you taught you told us that the thing is I I wouldn't fair to him. That's true, yeah no utah, so he had to because he doesn't know an in call up with an arrogant. She was asking an honest question when he just didn't know so it wouldn't, fair him to killing as tempting as it might have been. I was I was I was. giving you the energy yeah. I know you, I I felt it. I felt you egging me on it's almost as bad as when sharon does that. But now I mean the he's a he's, a good guy, just hadn't thought about some of the stuff, because he's young, I'm glad. Because I know a lot of people have fool around with that idea: an indifferent types of way, basically taking debt to invest its scope of those of you over in the merged shied. Hers header still spending there is not

SK about statistics class was not to be sarcastic, but in step one, the first class you take, they will teach you a measure of risk called a beta. a beta is leave the distance. between the hill and the valley. If you look at a graph and it's gonna, im down like a mountain in valley. The distance between the bottom in the top is your beta hokosa and, so in an investment analysis, a beta, is your measure of risk so for those of you out there doing your investments, You'll see it. Actually it's more that one of the people as you'd actually do see it in the real world other than stat class is with mutual funds. So a I, a in the in the united states, the standard and poor's s and p. Five hundred is the measure of the baseline of the stock market. It is a one point: zero beta, so it's your baseline, So if you have a mutual funds as a point eight less than one, that means it's less volatile, then the stock market

if you have a mutual fund, freshness and aggressive gross dogmas, refinement of a two point, o beta, which means is twice as volatile, as the essen p baseline. Ok, you start importer. So you see it there, but what happens is People do not apply that type of mathematical thing. And formula which that's an actual math measure of risk. Not people don't apply that to debt, and so he left her risk out of his mouth formula yeah he did so. Thank you. No camera make three thousand on sixty thousand, but I did not just my returns for rich and that's. Why I was asking about because you adjusted for risk. This is really a an egg had explanation of why. God says in the bible that the bar or is slave to the lender slaves, don't have choices slaves are seldom generous shows. Labour lose their person hood, and this is what

happens when you step into the noose of debt, because you haven't measured risk adequately Eric and so that this isn't it we'll get it through a biblical lands or spiritual lens, the lines of faith. We can look at it that way. Academic linz we can look at it through grandma's, commonsense propulsion shown you bought that car it is worth held mother who drove up and a new jaguar was a millionaire, my grandma death mail. I got lost mine. He urged ten years what cargo bay worst, and I should not regret not as much and they said well why? I call my investments, things that go up. Look at that grandpa was right. This is the ramsey show. What's up as george Kamal here you don't. I've been seeing a lot of on the internet lately other than everybody's trips to ITALY, bad financial, vice and that's why I'm so excited about my new project, where you get the truth about how to win with money, turn it on

spotify as we simplify complex financial topics, bus borrow, money, myths and talk with life millionaires over coffee, we'd get new blows every monday, Wednesday and friday truck, May you don't want to miss the fun so go or listen on spotify, just search george camel with a k the doctor, John alone, a number one best selling author of the book on your past change. Your future is my co host today. Thank you for joining us open phones at aaa. Two five, five, two to five: you jump in water about your life and your tricia is weathers in Washington dc high treasure welcome to the rams asia high thanks for having I have one simple question and one that a little bit more complex and the first is maybe step for fifteen percent of income is bad based the basic salary or is mad total, including potential bonuses total gross before taxes? Ok,

And then my my second question relates to a second mortgage, but I have or a morgue is that they have jointly with my mother in law or that my husband, I guess have with my mother in law, I'm and whether how we should really be accounting for that and the baby steps does that go in the bucket too, or does that go in the bucket with the general mortgage how do you have a more out with your mother in law? I'm. So when my husband and I were expecting our first baby, my mother and my was retiring, and we wanted her to move closer to us, but she couldn't afford. of neurons, and we thought that you're, helping her move toward where we were would be you know better than paying for a stranger to do childcare blast, though we essential assisted her and getting the house. So I'm on the model you took out of your own, her mortgage or joint on the mortgage? We annette fifty fifty percent of her house yeah, it's her primary residence. Yes, no closely, you took

mortgage, your coach on her in a sense on her mortgage on her house, while I'm on the title as well. Yes, this is your mom. No, it's my husband's mother old! So all three of you are on the title yeah, okay, alright, ah alright with so. My question basically is: do I just kind of let this linger out there and make the payments looking at the spine. Are you making the pay like I'm? We split the payments as a method of helping her yeah yeah she and she helps and what happens to the house when she passes or the other siblings and my husband has two siblings. We haven't actually discussed that and what happens when it passes once you pass as we have discussed that which was all the money that you're paying in reducing the principle may go to them.

Mama title so no ban, but you're, not you have exclusive title. She's got to title to and her estate will get her or from the title, and that is that a portion of their state could go through the siblings sharks. One not discussing this is really bad plan. Not having a plan is really bad plan, so we need a will and imply immediately and you may want to have it where the house's just where the deed is changed and it comes to you at death. Ok, that that would solve a whole lot of things. If you can get control of it like that, then I would put this in your plan, a snow my second mortgage on your residents. We tell folks, if it's less than if your annual income put it in baby step to if it's more and have your annual income it's in babyship six. So what's the balance on this particular house, although it not a real second mortgage and the balance is three. Seventy one

I'm guessing you're not make an eight hundred after bonus, it'll be five hundred household income five hundred has introduced. While I mean he get thirty thousand through the hole. therefore the disability. But you really need to get the straightened out so that you can get a paid off, but it really is a baby step. Six item, and but but if you pay it off and there's a paid for house and half of that house is owned by Her and she dies and there's no will that half of the household split among you and your ship are her out your husband and his siblings yeah, dom plan. What an I got it. I ask you a question about tricky situation. Ok, sir tristram, using you your situation as Dave, what happens if it pays off her half but I'm still not, I ass an undivided interest or not

the three. Seventy one is just a total balance of the group. I doubt if you pay down three someone by half the she still liable for the other half, so you can, you know, is not too long just one as a means of addressing here three. Seventy one isn't half of the remaining balance of the house. That's how much the whole remaining balances! Yeah! That's remain! outstanding amount on the market, so you're not you're a dogma splitting the pain to monitor much penthouse off time, pray, eyebrows and but pay it off in such a way the documentation in place that the house is yours, yeah that that you know traded like it's a rental property. and it's in baby steps section you pay it off, but right now it's not a rental property right now you start paying it off you're going to get in an argument with somebody, a judge or a sibling or both it covers no bill and no plan It says just split it among the three of them needs dumb. Thus, dumb I mean

was not the internal! This deal, that's not a fair deal here. Others haven't putting into this house? You should put the rest. up with them or that's fine, but it certainly is you go and pay off. You know a house, a hazard, in name only but her name on your house in and and know that your benefiting, though siblings. If you dont clean this mess up for, So yeah we've got Osama some estate planning work here. and then we need to put it in baby steps. Your overall answer so good question, just note I would not have done this. The way you did it. I think there is another way: I help grandmother and help her move and help her be there to help raise your kids and all that kind of stuff without getting all tied up in this barrel official said you got yourself in but You started out by paying off and by getting it dated d, upon death or before there once violent, may open phones, a triple eight eight to five five to two.

gmos in miami haji. Oh, how are you. How you doing better than we deserve. What's up, so I just had a quick question So I'm thinking about buying a run to bother with my sister but she's made of it. where she doesn't want a fifteen year cheap we what kind of a time limit, because my my income of this year It's gonna be like not really that high and solid, we're going off on my income of last year So I was just wondering if it's gonna be a rental and if we had not really gonna be living in it and have been overcome, essentially seller before them. Thirty year mark. This would be learning you have three reasons. We should not do this deal number one you're broke

You don't make enough money to do the deal. Number two you're you're gonna be an up partnership with someone. You are already in a disagreement with on how to structure the deal. That's dom partnerships are dumb partnership. the family can be really bad idea and number three you shouldn't by rental property, with dead at all. We should pay cash for it, so I bet you're kind of new to this whole ramsay thing sure you didn't know any. I was going to say any of those things, but one of the saying We use around here is the only ship that won't sales for partnership because doing thirty years of financial coaching. Ah, you know I see a lot people like you and sister in my office, both of you pissed off, I can see it because it didn't, because a partnership didn't work, I want to tell her. I love you enough that am I going to do this yup or I'm out. It's not gonna work for me. Well, I mean you're not making as much money tells me that you're, not

you're, not making good money, you don't need to begin unwell, property and your fight financing it and you wanna do a fifteen cause. You got at least that much of a glimpse of the rambling stuff and she's like now I want to stand at forever. Now lay as David just keep having this conversation with folks about my age, a little bit younger, lil bit older, who just keep living on tick and they think that they are broke. If they don't have rental property they will live in a two bedroom apartment and try to buy a rental house with thirty forty year? No, it's madness is heartbreaking. What it is it's the it's a get rich, quick syndrome and its on this idea. You know I'm going to invest in property cause. That's going to me. wealthy and the truth is that real estate does not make broke people wealthy. It makes them broker. That's why they call him brokers and united

when you're brought real estate is, is a game that you play when you have cash lots of it, because you, I need to play the long ball with real estate and when you get up against the edge and the sparks start flying cars. There's friction because there's no margin That's when you lose your butt and real estate. I started with now. at four million dollars with real estate. By the time I was twenty six, with a million dollar net worth. I was making two hundred thousand dollars a year and a Eighteen, eighty rican stories,

it's a lot of money back then lost at all those playing the same stupid but games that you people are watching on tic tac. This is the ramsey show the hey it's dr john baloney. If you love the show and want a deeper dive on your money journey, we have a weekly newsletter that gives you trending and helpful articles and tips on following the Ramsay way, just go to ramsey solutions, dot com today to sign up for our newsletter again, that's ramsey solutions, dot com to sign up for our weekly newsletter