"Sell 2 Donkeys, Get Married, And Move Out!"

Summary

Podcast Summary: "Sell 2 Donkeys, Get Married, And Move Out!"
The Ramsey Show Highlights
Release Date: April 16, 2025
Host: Ramsey Network

---

Introduction

In the April 16, 2025 episode of The Ramsey Show Highlights, host Dave Ramsey, along with co-host Jade Warshaw and guest George Kamel, delves into practical financial advice for listeners facing unique and challenging situations. The episode features two main callers: Madeline, a 23-year-old engaged woman living with her boyfriend and his parents, and William, a 67-year-old retiree grappling with home repairs and retirement savings. The discussion is interspersed with humorous interjections and advertisements, maintaining an engaging and dynamic flow throughout the episode.

---

Caller 1: Madeline’s Challenge – Selling Donkeys to Achieve Financial Independence

Background: Madeline reaches out to seek advice on her financial predicament. At 23 years old, she and her boyfriend have been living with his parents for two years. They are engaged and eager to move out but face significant debt and unique circumstances involving livestock.

Key Points:

1. Debt Situation:

   • Madeline has a car loan of approximately $27,000, while her boyfriend carries debt from his vehicle and credit cards incurred from starting his contracting business.
   • Quote: Madeline explains, “I have just debt from my car. It's about four years for me to completely pay it off. It's about $27,000.”

2. Income Streams:

   • Madeline earns $30,000 annually from her job at a bank with prospects for advancement.
   • Her boyfriend’s income fluctuates between $60,000 to $70,000 per year due to the nature of his contracting business.
   • Quote: Madeline states, “I make 30,000. I work at a bank that I'm interviewing to move up, so hopefully making more soon.”

3. Living Situation and Donkeys:

   • They reside on her boyfriend’s grandparents' land, where they keep two donkeys bred for selling. Due to financial strain, they had to reduce their herd.
   • Quote: Madeline shares, “We actually breed them to sell the baby donkeys, but we had to get rid of a lot of them because we couldn't afford.”
   • The presence of the donkeys complicates their ability to move into a standard apartment, leading to Dave Ramsey’s pointed advice.

4. Dave Ramsey’s Advice:

   • Ramsey humorously suggests, “sell two donkeys, get married, and move out within the next three weeks into an inexpensive apartment. You have $100,000 a year income.”
   • He emphasizes prioritizing debt repayment and financial stability over unconventional living arrangements.
   • Quote: “If the donkeys are keeping you from doing that, then we need to get rid of the donkeys. And that's not a metaphor, that's a fact.”

5. Underlying Themes:

   • Importance of financial independence before major life decisions like marriage.
   • The necessity of aligning one's actions with financial goals, irrespective of familial expectations or unconventional hobbies.

6. Humorous Interactions:

   • Jade and Dave engage in light-hearted banter about the reality of keeping donkeys in a residential setting.
   • Quote: Dave jests, “What set of parents lets the girlfriend move in with their son and bring the donkeys? That's over the top.”

---

Caller 2: William’s Financial Dilemma – Addressing Housing Repairs Without Compromising Retirement

Background: William, a 67-year-old retiree with $800,000 in retirement savings and an $85,000 annual income from Social Security and a pension, seeks advice on financing $100,000 worth of home repairs related to water abatement and mold.

Key Points:

1. Understanding the Financial Landscape:

   • William owns a house for 30 years and has postponed necessary repairs due to financial hesitations.
   • Quote: “We've been in the house for 30 years and I've just been putting it off and putting it off.”

2. Retirement Savings and Tax Implications:

   • With a substantial retirement fund, withdrawing $100,000 would subject him to approximately a 30% tax liability.
   • Quote: William expresses concern, “So if I take 100,000 out of my retirement, I'm going to have to pay 30% tax on much of that.”

3. Dave Ramsey’s Guidance:

   • Ramsey advises against tapping into retirement funds or taking on additional debt, especially when ample savings exist.
   • He emphasizes using the $100,000 from his existing $800,000 retirement savings for the repairs.
   • Quote: “Don't borrow money when you have $800 grand in the bank.”

4. Strategic Financial Planning:

   • Ramsey and Jade discuss reverse engineering financial decisions, encouraging William to utilize his savings rather than accruing new debt or facing unnecessary taxes.
   • Quote: Dave suggests, “Reverse engineer it, folks. And say if I had $700,000 in my retirement account, would I go borrow $100,000... No, I wouldn't.”

5. Behavioral Insights:

   • Jade notes that some individuals perceive home improvements as non-debt, leading to delayed action.
   • Ramsey labels William as a diligent saver but also criticizes the over-conservation that leads to inaction on necessary expenses.
   • Quote: “He's a saver. Another way of saying it is he's a cheapskate. He didn't fix a mold issue that got worse while he's sitting on 800 grand.”

6. Outcome:

   • William acknowledges Ramsey's advice, appreciating the straightforward and tax-efficient solution to his problem.
   • The discussion reassures listeners about making informed and fiscally responsible decisions in retirement.

---

Additional Segments and Interactions

1. Advertisements and Promotions:

   • The episode includes a promotional segment for the EveryDollar app and Deleteme, offering listeners tools to manage their budgeting and protect their personal information.

2. Humorous Remarks:

   • George Kamel, from the control booth, injects humor during the initial call, poking fun at the predictability of Ramsey’s advice with statements like, “They’re going to say next. Get out of debt, Sell the horse, yada yada yada.”
   • Dave Ramsey and Jade engage in playful dialogue regarding the absurdity of Madeline’s donkey situation, enhancing the episode’s entertainment value.

3. Call for Listener Engagement:

   • The hosts encourage listeners to submit their questions and calls, reinforcing community engagement and support.

---

Conclusion

In this episode of The Ramsey Show Highlights, Dave Ramsey adeptly balances serious financial advice with light-hearted humor, addressing the unique challenges presented by callers. Madeline’s situation underscores the importance of prioritizing financial stability over unconventional living arrangements, while William’s dilemma illustrates strategic retirement planning without incurring unnecessary taxes or debt. The interplay between the hosts and callers not only provides actionable insights but also makes the financial guidance relatable and engaging for a diverse audience. Listeners are reminded of the foundational principles of budgeting, debt management, and wise financial decision-making that are central to the Ramsey Network’s mission.

---

Notable Quotes:

• Madeline [00:25]: “I am 23.”
• Dave Ramsey [02:11]: “I would suggest you all get married this weekend and move out next weekend.”
• William [05:30]: “First, thank you. I hooked into you about 15 years ago and you've changed my life.”
• Dave Ramsey [07:28]: “If I had $700,000 in my retirement account, would I go borrow $100,000... No, I wouldn't.”

---

This detailed summary encapsulates the key discussions, insights, and actionable advice presented in the episode, ensuring that both regular listeners and newcomers can grasp the essential messages and apply them to their own financial situations.

Transcript

[Dave Ramsey]

Brought to you by the EveryDollar app. Start budgeting for free today.

[Madeline]

I currently live with my boyfriend at his parents house. We've lived here for about two years and we are getting engaged this year and we're running out. Obviously we don't want to be engaged or even married living here. We've been doing the snowball effect for a little bit, but it's still in the process.

[Dave Ramsey]

How old are you?

[Madeline]

I am 23.

[Dave Ramsey]

Okay, all right. Because your sweet little voice, you sound like you're 12. I wasn't sure. Okay, well, thank you. That's the. Okay, so we don't have debt because we aren't married. Who has debt, you or him?

[Madeline]

I have just debt from my car. It's about for me to completely pay it off. It's about 27,000. He has debt from his vehicle and debt from credit card card bills from starting his business.

[Jade]

And are you both working?

[Madeline]

We are, yes.

[Jade]

How much do you make?

[Dave Ramsey]

Yeah, what do y'all make?

[Madeline]

I make 30,000. I work at a bank that I'm. I'm interviewing to move up, so hopefully making more soon. And he, it fluctuates with him just because he owns a contracting business, but it's normally, I would say a year like 60 to 70,000.

[Jade]

So why are you guys living?

[Dave Ramsey]

I mean, why aren't you married? Making $100,000 a year at 23 and pay these debts off?

[Madeline]

We haven't gotten married yet just because everybody around us have told us that we're kind of young, so to wait.

[Jade]

What?

[Dave Ramsey]

Okay, well, you're acting like you're married.

[Jade]

I was going to say.

[Dave Ramsey]

So what are we waiting on?

[Jade]

What's the difference in your mind?

[Madeline]

Yeah.

[Jade]

Because your actions aren't showing difference. Yeah, because your actions aren't showing difference.

[Dave Ramsey]

Everybody around you includes his parents who don't want y'all to get married. Hu.

[Madeline]

They've kind of told us to wait a little bit. Just his brother got married last year. So we were kind of trying to give him his moment and waiting, but he doesn't want to wait any longer and neither do I.

[Dave Ramsey]

So I would suggest you all get married this weekend and move out next weekend.

[George]

Hey, George here in the control booth. And I bet you're wondering what they're going to say next. Get out of debt, Sell the horse, yada yada yada. The advice may be predictable, but the Internet is anything but. You see, your personal info is out there there up for grabs by shady companies ready to add more scam and spam to your Life. And that's why I use Deleteme. Deleteme will scrub your data from all of these sites so that you can focus on the Ramsey show instead of who's buying and selling your info. And Ramsey fans get 20% [e-mail] Ramsey or by using the link in the description below. So go take control of your privacy as soon as this call is over.

[Dave Ramsey]

I would suggest you all get married this weekend and move out next weekend.

[Madeline]

We actually have an opportunity to move into a cabin on his grandpa's land when we. It is $15,000 that we have calculated to renovate it.

[Dave Ramsey]

So we're broke. You don't need to be renovating someone else's cabin.

[Jade]

Why can't you just get an apartment like everybody else?

[Dave Ramsey]

You don't have any money and you're broke.

[Madeline]

We have donkeys. So we are not able to move into an apartment because we have donkeys that we have in our backyard.

[Jade]

Why? Where did those come from and what are you using them for?

[Madeline]

We actually breed them to sell the baby donkeys, but we had to get rid of a lot of them because we couldn't afford.

[Dave Ramsey]

I can't believe I'm asking this question. How many donkeys do you have?

[Madeline]

We only have two residents.

[Dave Ramsey]

And what are they worth?

[Madeline]

The female is probably worth a thousand and the male is probably close to 1100.

[Dave Ramsey]

Perfect. Okay, so I'm going to tell you what I would tell my daughter if she was 23 and she called up and was in this situation. I can't imagine that happening, but let's say she did. Okay. I would say sell two donkeys, get married, and move out within the next three weeks into an inexpensive apartment. You have $100,000 a year income. Clean up this mess of debt that you have and then start saving to buy a nice, nice property and a piece of ground later and restart your donkey business later. If that's your dream, I suspect your dream is going to change about the time children start coming.

[Jade]

Yeah, 100%.

[Madeline]

Yes. We.

[Dave Ramsey]

We don't revolve our major life decisions around donkeys in the backyard.

[Jade]

That is a good principle of life.

[Madeline]

Yes.

[Jade]

Oh, boy.

[Dave Ramsey]

Oh, this is great. This is so fabulous. Madeline, you're a sweet girl. If. But I think you're listening to everybody else except the two of you. And I think you and your husband be. Need to move out and get you an apartment and get married right now. And then you need to clean up your debt mess. And if the donkeys are keeping you from doing that, Then we need to get rid of the donkeys. And that's not a metaphor, that's a fact. William is in Harrisburg. Hey, William, what's up in Pennsylvania?

[William]

Everything going very well, thank you.

[Dave Ramsey]

I'm glad. How can I help, Mr. Ramsey?

[William]

First, thank you. I hooked into you about 15 years ago and you've changed my life.

[Dave Ramsey]

Oh, I didn't change it. You did. I'm proud of you.

[William]

Well. Well, because of your input.

[Dave Ramsey]

Well, thank you, sir.

[William]

I have about a hundred thousand dollars that I need to put into my house because of water abatement and mold.

[Dave Ramsey]

It's been going on a while.

[William]

We've been in the house for 30 years and I've just been putting it off and putting it off.

[Dave Ramsey]

Yeah, that's what I mean. It's been going on a while. Okay.

[William]

So I have about 800,000 in retirement. A mixture of Roth IRAs and traditional IRAs.

[Dave Ramsey]

How old are you?

[William]

I am 67 years old.

[Dave Ramsey]

Okay.

[William]

Retired.

[Dave Ramsey]

How many bids have you gotten on the work?

[William]

Say again?

[Dave Ramsey]

How many bids have you gotten on this work?

[William]

About three or four of them.

[Dave Ramsey]

Okay, so you got a good average. You know that a hundred thousand is an accurate number. It's not one guy sticking you.

[William]

Correct.

[Dave Ramsey]

Oh, good for you. Not your first round the cabbage truck. Okay, good. Okay.

[William]

Yep.

[Dave Ramsey]

So is it simple and simple answer to take 100 of your 800 and fix your house?

[William]

Okay. Not do a home equity.

[Dave Ramsey]

No. We're not borrowing money when we have 800 grand in the bank.

[William]

Okay. And here's the reason I asked. I have a pension and Social Security. That puts me at about 85,000.

[Dave Ramsey]

Yeah.

[William]

So if I. So if I take 100,000 out of my retirement, I'm going to have to pay 30% tax on much of that.

[Dave Ramsey]

Yeah. Yeah, that's right.

[William]

Still pay the 30% tax?

[Dave Ramsey]

Absolutely. I'm not going in debt. Not when you're a millionaire. And you're a millionaire. No, no.

[William]

I appreciate it.

[Dave Ramsey]

Easy enough. That's easy, man.

[Jade]

That's a good question.

[Dave Ramsey]

Well done. Good question, sir. And good answer. Open phones, 825-5225. Another way of asking yourself these questions, like William's asking, is always reverse engineer it, folks.

[Jade]

That's true.

[Dave Ramsey]

And say if I had 700,000 in my retirement account, would I go borrow 100,000 to have 800 in. No, I wouldn't. Same thing. The thing that's throwing him is he doesn't want to pay the tax.

[Jade]

Well, why do people feel.

[Dave Ramsey]

And you have. And if he has traditional. He has required Minimum distributions coming up at 72 and a half anyway.

[Jade]

That's right.

[Dave Ramsey]

That's right around the corner. So he's going to have to begin to pull this money down anyway.

[Jade]

I think people think when they roll money into their house, they won't feel it as debt. Like it's almost like in their mind it doesn't count as debt.

[Dave Ramsey]

Take a HELOC and do this 100,000. So yeah, you're Williams. He's a saver.

[Jade]

He is.

[Dave Ramsey]

Another way of saying it is he's a cheapskate. He didn't fix a mold issue that got worse while he's sitting on 800 grand.

[Jade]

Yeah, yeah.

[Dave Ramsey]

Dude, go fix your house. This is really what you've. You've been saving too, too harshly here, brother. Yeah, that's. It's good. Very, very good.

[Jade]

So, Jade, do you want to talk about the donkeys?

[Dave Ramsey]

I'm still trying to get my emotions around that one. Yeah, I didn't completely lose it on the air. That's pretty good. Laughing.

[Jade]

I was close.

[Dave Ramsey]

I thought you're gonna have to phone.

[George]

A friend and see if George would say to sell the donkeys.

[William]

George.

[Dave Ramsey]

I forgot it. We should have brought in, channeled our inner George.

[Jade]

I know. Where is it?

[Dave Ramsey]

So the, the. The horse people were after George. Now the donkey people will be after me. How do you get for making fun of the donkeys and donkey?

[Madeline]

Yeah.

[Jade]

I don't even know how you get into how that becomes your dream in life.

[Dave Ramsey]

What set of parents lets the girlfriend move in with their son and bring the donkeys? That's over the top. It's over the top, hun. Mom, I'm bringing a girl home and a couple of donkeys.

[Jade]

Great. Here's the room upstairs.

[Dave Ramsey]

I'm thinking my mom would have said, you're not my child.

[Jade]

Oh man, we would. I wouldn't have survived.

[Dave Ramsey]

I'm bringing the donkeys. Yeah. If we could make up these calls that were this good, we'd make them up. But instead we just take calls from normal people. This is the Ramsey Show. Create your free everydollar budget today. The simplest way to budget for your life.