Your Feelings Don’t Build Wealth — Discipline Does

Summary

Podcast Summary: The Ramsey Show – "Your Feelings Don’t Build Wealth — Discipline Does"

Release Date: April 30, 2025

Introduction

In this episode of The Ramsey Show, hosted by Dave Ramsey and co-hosted by Jade Washaw, the central theme revolves around the crucial role of discipline over emotions in building wealth. Dave and his team address various financial dilemmas faced by listeners, offering practical advice on maintaining financial discipline to overcome challenges and achieve financial freedom.

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1. Managing Inheritance and Marital Transparency

Caller: Nathaniel from New York City
Timestamp: 00:53 – 06:10

Issue:
Nathaniel, a 26-year-old law student with an impending marriage, inherited approximately $1 million. He seeks advice on whether to use his funds to help his future in-laws, who are in debt due to a failed risky investment.

Discussion:
Dave Ramsey emphasizes the importance of transparency in relationships.

Dave Ramsey [01:10]: "You don't go another day promising to marry somebody and you're keeping secrets from them." (Timestamp: 03:02)

He advises Nathaniel to openly discuss his finances with his fiancée to build trust and align their financial goals. Ramsey also touches on the potential dangers of bailing out family members who may not demonstrate responsible financial behavior, suggesting a careful evaluation of the situation.

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2. Aligning Financial Goals with a Spouse

Caller: Devin from Fort Wayne, Indiana
Timestamp: 11:20 – 30:30

Issue:
Devin and his wife are struggling to align their approaches to debt elimination. Devin is highly motivated to aggressively pay off debt, while his wife lacks the same urgency.

Discussion:
Dave underscores the significance of communicating the "why" behind financial decisions.

Dave Ramsey [13:02]: "Nobody goes to the gym. Well, most people don't go to the gym because it's fun. They go because they're tired of being overweight, they're tired of being out of shape." (Timestamp: 13:02)

He advises Devin to articulate his motivations clearly to his wife to foster mutual understanding and commitment. Ramsey also suggests avoiding presenting financial strategies as a means to label one partner as "smart" and the other as "dumb," advocating instead for shared goals and collaboration.

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3. Handling Legal Financial Obligations

Caller: Devin dealing with a lawsuit from a car accident
Timestamp: 23:15 – 30:30

Issue:
Devin is being sued for $15,000 due to a car accident that occurred two years prior when he lacked insurance. He seeks guidance on managing this debt.

Discussion:
Dave advises leveraging income while minimizing expenses to quickly accumulate funds to settle the debt.

Dave Ramsey [25:40]: "He just needs a plan." (Timestamp: 30:17)

The recommendation includes taking on additional jobs and negotiating a lump-sum payment to settle the lawsuit, emphasizing that proactive financial planning can mitigate long-term repercussions.

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4. Investment Decisions and Market Volatility

Caller: Sam from Chicago
Timestamp: 39:57 – 43:05

Issue:
Sam is contemplating whether to continue investing in mutual funds despite market volatility or to consider purchasing real estate in a high-cost area like New York City.

Discussion:
Dave explains that market volatility is a natural part of investing and advises a long-term perspective.

Dave Ramsey [39:57]: "The definition of investing is you're going to leave the money alone at least five years. Otherwise, you're parking money or you're saving money or you're speculating." (Timestamp: 39:57)

He encourages maintaining a diversified investment strategy and considering real estate as a separate investment avenue, stressing the importance of not letting short-term market fluctuations deter long-term financial goals.

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5. Navigating Job Burnout and Career Decisions

Caller: Jack from Chicago
Timestamp: 68:09 – 89:04

Issue:
Jack, a 25-year-old earning $157,000 annually, feels burned out in his current job and is unsure whether to take time off or switch careers entirely. He attributes his dissatisfaction to a lack of belief in the company's product and struggles with ADHD affecting his focus.

Discussion:
Dave differentiates between burnout and dissatisfaction stemming from a lack of belief in one's work.

Dave Ramsey [68:34]: "Burnout comes when you're doing something you hate with people you hate." (Timestamp: 70:10)

He advises Jack to seek employment that aligns with his values and interests rather than taking an indefinite break. Ramsey emphasizes finding a role that provides both satisfaction and financial stability, suggesting that changing jobs might alleviate his feelings of burnout more effectively than taking time off.

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6. Ethical Business Investments for First-Generation Farmers

Caller: Undisclosed
Timestamp: 56:08 – 75:02

Issue:
A couple invested in their hay business, purchasing tractors with varying interest rates. They question whether leveraging debt for business growth is a wise decision.

Discussion:
Dave strongly advises against business debt, highlighting that it increases financial risk and the probability of business failure.

Dave Ramsey [57:42]: "The more you borrow, the more likely you are to fail." (Timestamp: 58:05)

He champions cash-based business growth to ensure sustainability and reduce dependence on loans, sharing his own experience of growing his business without incurring debt.

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7. Real Estate Decisions and Property Valuation

Caller: Steve from Richmond, Virginia
Timestamp: 62:31 – 75:30

Issue:
Steve owns a commercial property with a triple net lease expiring in five years. He is uncertain whether to sell the property now due to potential vacancy issues.

Discussion:
Dave emphasizes evaluating the probability of lease renewal and the future value of the property based on income generation.

Dave Ramsey [63:36]: "If you think there's a 90% probability they're going to renew and stay, then I would hold it." (Timestamp: 64:40)

He advises considering the potential risks and marketability implications of remaining with a property that may become vacant, suggesting selling if the risk of vacancy is high.

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8. Balancing Business Growth with Financial Prudence

Caller: Undisclosed
Timestamp: 75:54 – 89:04

Issue:
A business owner with significant cash reserves questions whether to invest further in business assets or continue saving prudently.

Discussion:
Dave reiterates the importance of financial discipline and discourages the accumulation of debt in business operations.

Dave Ramsey [76:51]: "The more money you borrow, the more likely you are to fail." (Timestamp: 58:05)

He recommends utilizing services like SmartVestor for investment guidance and emphasizes aligning business investments with long-term financial stability rather than short-term gains.

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Conclusion

Throughout the episode, Dave Ramsey and his team consistently advocate for financial discipline, transparency, and prudent decision-making over emotions when it comes to building and maintaining wealth. By addressing real-life financial dilemmas from various callers, they illustrate how disciplined approaches can lead to financial stability and success, resonating with listeners seeking guidance to navigate their financial challenges.

Notable Quotes:

• Dave Ramsey [03:02]: "You don't go another day promising to marry somebody and you're keeping secrets from them."

• Dave Ramsey [13:02]: "Nobody goes to the gym. Well, most people don't go to the gym because it's fun. They go because they're tired of being overweight, they're tired of being out of shape."

• Dave Ramsey [58:05]: "The more you borrow, the more likely you are to fail."

• Dave Ramsey [70:10]: "Burnout comes when you're doing something you hate with people you hate."

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This episode underscores the transformative power of discipline in personal and business finances, providing listeners with actionable insights to foster financial health and prosperity.

Transcript

[Dave Ramsey]

Brought to you by the EveryDollar app. Start budgeting for free today. Live from the headquarters of Ramsey Solutions it's the Ramsey show where we help people. People build wealth, do work that they love and create actual amazing relationships. Jade Wash all number one best selling author Ramsey personality is my co host today. Thank you for joining us. It is a free call. Nathaniel is in New York City. Hi Nathaniel. Welcome to the Ramsey show.

[Jade Warshaw]

Hi there. Super happy to be here.

[Dave Ramsey]

Glad to have you. How can we help?

[Jade Warshaw]

Good, let me try to be brief. So I'm 26 years old, I'm a law student, Got no debt, got a job lined up at a big corporate law firm. Once I graduate and actually doing better than that, a few years ago I inherited about a million dollars.

[Dave Ramsey]

Wow.

[Jade Warshaw]

Yeah. This inheritance, to me it's like I treat it like a sacred gift from God. And I feel like I have a responsibility to be a really excellent steward of it. So I'm very safe. Principal protection investment strategy for this money. It's in a trust account only I control it. I got a financial advisor on it. Feeling good about that. Good thing One thing two, I'm getting married in a few months. I've been dating my now fiance for almost four years. She's the youngest of many siblings. She has no assets or liabilities of her own. Virtually no income potential. She's a pianist. But we're actually happy about this arrangement. She wants to be a mom. I'll be a breadwinner. This seems good. My question was about my future in laws. So her parents are retired, they actually live in China and they lost a lot of money by mortgaging their fully paid for apartment for leverage in a risky investment which of course failed. And there's something like $25,000 in the hole. So I guess my question is I'm thinking about how I should manage this. What's the right thing to do here vis a vis my future in laws? On the one hand, their family, I could pay off their debt like literally 40 times over. Would I be a jerk not to? On the other hand, part of me doesn't really feel like using my money, soon to be our money, to help people who in retirement mortgages are only safe asset for leverage in a single risky investment. It just.

[Nathaniel]

Are they asking you for help?

[Jade Warshaw]

No, I'm just thinking ahead. In fact, my fiance doesn't actually know about the full extent of my wealth and I haven't really been sure how to explain this to her.

[Nathaniel]

Interesting. So you know this about the in laws? The in Laws don't know about your wealth, nor are they asking for you to do anything about it.

[Jade Warshaw]

Correct.

[Nathaniel]

Interesting.

[Jade Warshaw]

I'm just. I'm just. Yeah. Thinking ahead. On what? Because I imagine this could come up.

[Dave Ramsey]

Well, yeah. Okay. Full stop. You don't go another day promising to marry somebody and you're keeping secrets from them.

[Nathaniel]

That's the first thing. Yep.

[Dave Ramsey]

Unhealthy, dude. Unhealthy. You guys got. I sit down with somebody and unpack what's going on between the two of you? She has to know what's going on in your life. You don't marry somebody and, oh, surprise, right. I have a million dollars in debt. Or surprise, I have a million dollars in high yield savings accounts because I got this inheritance and. And I didn't want to. I didn't want to tell you. No, that doesn't work. This is somebody you're going to spend your life with, and you've got to be able to trust them. If you can't trust them, you don't need to be able to marry them. Okay, so that makes sense. We got to work on that immediately. And while you're doing that, you could just have this discussion, not in the same breath, but a week later after you come clean. But then you just say, hey, I'm worried about this, and I'm a little bit conflicted. I kind of feel like I want to help. I kind of don't want anybody asking me to help, and I kind of don't want to reward bad behavior, and I'm conflicted. And I think that's a wonderful thing to discuss with your spouse.

[Nathaniel]

Wonderful.

[Dave Ramsey]

And see what she says. And if she says, well, of course you have to help. Well, now we got another problem. Right?

[Nathaniel]

That is a. That's a good indicator.

[Dave Ramsey]

Now we got another problem, you know, so, like, I was a friend of mine's kids were getting married, and they. The. The young man was a. His mother was a single mom who didn't have any money. And the marriage counselor, the pre. Marriage counselor asked them what. Well, what would happen if. If, you know, his mom. If y'all are married and have your own life and his mom gets in financial trouble and he didn't even. He just instantly said, oh, she'd move in with us. And the fiance's head spun around twice.

[Nathaniel]

Oh, I bet.

[Dave Ramsey]

And said, I don't think so.

[Nathaniel]

We hadn't talked about that.

[Dave Ramsey]

Think so. You need another plan for mama.

[Nathaniel]

Yeah.

[Dave Ramsey]

And, you know. And you know, so that's the kind of stuff you need to get that's that's really good. Healthy things to be on the same page about before you go in. And then whatever the two of you decide together that you can both work through the awkwardness on will be okay with me. There's not an ethical or legal as you know, mandate that you take care of them, but it is a small amount of money compared to the amount of money you're dealing with. And so you could reach over with absolutely no impact on your life and pay off their little debt and set them up, but you don't want to do that if they're going to turn around and do the same kind of stupid stuff again. So I want to get under the hood and find out what's broken that caused them to be stupid in the first place.

[Nathaniel]

And is it a track record?

[Dave Ramsey]

Yeah. Is this like a pattern? Or are we going to do it again? Or have we learned our lesson? Because I did stupid stuff and went broken and never did it again as I learned my lesson. Right. And so you know that. That doesn't. Doesn't invalidate me.

[Nathaniel]

We didn't talk about this. But, Nathaniel, I mean, you're in law school. You've got this big chunk of money. Are you thinking about, like, a prenuptial agreement? Is that. Is that what's caused you to hold off on telling her this?

[Jade Warshaw]

Yeah, Maybe I should clarify that a little bit more. I think, initially. So this came somewhat recently. It was kind of a surprise to me. I had no idea this was coming. And also, I just. There was a part of me that wanted to make sure. To feel secure that she's interested in me only because of me and not the fact that I happen to have the pot of gold behind me. And I live a lifestyle which doesn't at all reflect that I have the pot of gold behind me.

[Dave Ramsey]

Yeah, you can do that in about a week.

[Jade Warshaw]

Yeah.

[Nathaniel]

Yeah. You don't lead with the fact that you have $1 million that you inherited, but I don't think that you keep it a secret for as long as you have.

[Jade Warshaw]

Right? Yeah. I mean, she. She knows I'm not suffering. She knows I've never been struggling for money.

[Nathaniel]

Right. But that's a lot different than knowing somebody had just inherited a million dollars. Those are two complete.

[Dave Ramsey]

You need to get on the phone. You guys need to sit down this in the next 24 hours and talk about this. Dude, if you can't talk to her about this because of this or this or this or this or this. And you got 73 reasons you don't need to marry this girl because, dude, I mean, you're going to be swapping unbelievable tragedies over the next 40 years together. Unbelievable blessings over the next 40 years together. And if you can't get. You can't even get this to come out of your mouth because you got 73 reasons you're worried about her, then this ain't marriage material. Dude, you got to get this straight. No, no, you do not. If you have to deceive someone because you're worried about their authenticity, we. We don't marry them.

[Nathaniel]

Well, honestly, that's more on his authenticity.

[Dave Ramsey]

I know.

[Nathaniel]

Than her. Yeah. You know what I'm saying? I feel like, Nathaniel, you got. You're more of the problem here than your own.

[Dave Ramsey]

Than they are. Yeah, yeah. Nine out of ten, Nathaniel needs to come clean. One out of ten. Pay off the 25K or don't. Yeah, that. That's how this weighs out on this call. This is the Ramsey. All right, Dave, you have some strong opinions, possibly? Yeah, I think so.

[Jade Warshaw]

Okay.

[Nathaniel]

Because you really prefer credit unions over big banks.

[Dave Ramsey]

Well, credit unions, for one thing, are nonprofit, which means that the members, the customers own the credit union. So any profits that the credit union makes goes back into customer pricing. So you get better interest rate on savings, cheaper checking and so on, that kind of thing. But what's more important than that, though, is the fact that the customer is the owner, changes the spirit on the credit union. So I find very few credit unions that aren't very customer centric.

[Nathaniel]

Well.

[Dave Ramsey]

And I think we have found one that is incredible, and that's Fairwinds. They are an incredible credit union that is really out with the heart to help the customer. They're the right kind of people with the right kind of values, and they've done a really, really good job with customer service and the deals that they're offering. The Ramsey Tribe is incredible. Yeah, absolutely. And I love that the things that we teach, they so line up with. And you're right, their customer service is unbelievable.

[Nathaniel]

Winston and I just signed up and.

[Dave Ramsey]

We got an account. And I'm not kidding, it took less than five minutes. It was so user friendly. Like, the step by step approach was unbelievable. And then the next day, my phone rings and it says, fair wins on my phone. So I answered it and talked to someone there and they said, yeah, they give calls to every new customer.

[Nathaniel]

And so again, they just really care about your experience. And I. I so, so appreciate that. Plus, anything that you can do at a traditional branch, you can do with [e-mail] or on their app, and you'll.

[Dave Ramsey]

Have free access to over 33,000 ATMs. You guys know how much I hate banks in general, and so for me to do this is a big deal. Talk to our friends at Fairwinds and check out the combined checking and savings bundle that they created just for the Ramsey Tribe. You guys, it's incredible. Yeah, you guys, it so easy to join Fairwinds no matter where you live.

[Nathaniel]

So go to fairwinds.org Ramsey.

[Jade Warshaw]

Fairwinds is federally insured by NCUA.

[Dave Ramsey]

Mark's in San Antonio. Hey, Mark, what's up?

[Jade Warshaw]

Hey, Dave. How are you?

[Dave Ramsey]

Better than I deserve. How can I help?

[Jade Warshaw]

Hey, I am struggling with getting my wife and I on the same page on getting out of debt. I've been an avid listener for you guys only about two. Two months, but yeah, multiple times a day I'm trying to catch up on Spotify, and I'm really buying in. I think baloney says drinking the Kool Aid. I want to go gazelle intense and really get after everything. And I got the every dollar. I did our budget, and we have a lot of debt, and my wife is not as terrified about it as I am. I just need your help. Wanted some advice on how I want to get her to see things my way, but I'm smart enough to know that we have to see things the same way. Not my way.

[Dave Ramsey]

That's good.

[Nathaniel]

Does she listen? Does she listen at all to the show?

[Jade Warshaw]

She does not.

[Nathaniel]

Have you sent it to her just to say, hey, I've been listening to this podcast. I really like it. You might like I shared a couple things.

[Jade Warshaw]

She likes the message. She doesn't always like Dave's delivery, so it's hard to get her to follow through with it.

[Nathaniel]

Okay. Yeah, just. I think you know this, but the way that I'm hearing it is you're.

[Dave Ramsey]

Wait a minute, Wait a minute. You didn't send her the podcast. You sent her social media clips.

[Jade Warshaw]

Yeah, probably. I think she overheard a podcast and the Bluetooth in my truck when Dave was on.

[Dave Ramsey]

Yeah. Because my delivery. My delivery in the social media eclipse is 100% smart ankle.

[Jade Warshaw]

Sure.

[Dave Ramsey]

But it's different on the podcast if you listen to the whole thing in context.

[Nathaniel]

That's right.

[Dave Ramsey]

So, yeah, I don't. I don't like me on social media.

[Nathaniel]

Yeah, it's meant to be. It's meant to be controversial. It's meant to push people. You know, it's meant to get 40 million.

[Dave Ramsey]

It's meant to get 40 million.

[Nathaniel]

That's right. That's right.

[Dave Ramsey]

It's meant to do, and it does so. But it has nothing to do with who I really am or how this message works. So, yeah, I would be careful with that anyway. But anyway, the thing. The mistake that most people make, including me with Sharon on some things, is I would ask you, okay, you said, I'm ready to drink the Kool Aid. I want to get out of debt. I'm ready to do all this stuff. I'm ready to be gazelle, intense. And my question is, why? Why are you doing that?

[Jade Warshaw]

I make. I make good money. I'm a young man. I mean, I think I'm a young man. I'm 27. I make really good money. But we, you know, it's paycheck to paycheck, and that's how my wife and I both grew up.

[Dave Ramsey]

Why do you want to do this stuff?

[Jade Warshaw]

I want to give my kids the life I didn't have.

[Dave Ramsey]

Ah, there it is. A good why. Good why? How many kids you got?

[Jade Warshaw]

Two.

[Dave Ramsey]

Good. Okay. So guys are worse than ladies on this. We generally, when we come to our wives with something, we tell them what instead of why. And if you'll tell her why a lot, she'll start asking about the what. Because there's very few women on the planet, unless they've got psychological disorder, that when their husband looks at them and says, I want to give our children a better life, and I'm terrified, they say, oh, we don't want to do that.

[Jade Warshaw]

She agrees. She wants to get out of debt. And she even. I've explained the snowball and things. She likes the process. She just doesn't have the same intensity.

[Dave Ramsey]

Well, of course, you have about 5,000 more hours of information than she does.

[Jade Warshaw]

Sure.

[Nathaniel]

What happened? Can I ask you about, like, the catalyst to all this? What happened that you found Ramsey or that made you start listening to the show? What in your life? Kind of made you go, I need to look for something here.

[Jade Warshaw]

I have a long commute to work.

[Nathaniel]

And so you're just listening to.

[Jade Warshaw]

Listen to. And I've seen the social media clips, and I like what you say, so I started listening to the podcast.

[Nathaniel]

Okay, okay, so go back.

[Dave Ramsey]

Go back to that. Then again, you saw the social media clips, and it scratched an itch. That's Jade's point. Okay. And even if the delivery is not her style, which is perfectly acceptable, completely understand that my wife doesn't care for my delivery, so that's okay. And so. But the. But it's compelling and it works. So we're going to keep doing it. But the. Anyway, whatever the itch was that scratched that caused you to go down this rabbit hole, this Ramsey rabbit hole, that's what we need to just keep talking about with her instead of like, are we going to do the debt snowball? Because intensity doesn't come from information. Intensity comes from buying a dream. Sure, we sacrifice. We live like no one else so that later we can live like no one else. And we believe that if we plant corn seed in the hot sun and we get the hoe out and get calluses hoeing the weeds out, that the corn is going to come in and bring us a big. A bigger crop. Otherwise we wouldn't do all that crap. You know, you don't. You're not going to pay a price unless you think you're going to win. I mean, nobody goes to the gym. Well, most people don't go to the gym because it's fun. They go because they're tired of being overweight, they're tired of being out of shape.

[Nathaniel]

But people are different to get there. Yeah, like you're tipping point, to use Dave's analogy. You step on the scale and you see £185. That could be like, that's it, I've had it. I'm going to the gym. That might not be somebody else's tipping point. Somebody else's tipping point might be they go to put their jeans on and the buttons too tight, or they go to sit on the plane and they feel like they're too squished in on the plane. Do you see what I'm saying? So you had a tipping point that scratched a niche that you had. She's got to feel that. And I think the way that you do that is you have these conversations. You make it very clear on the why. And this is not a light switch. Very rarely do you have about something major like this. Very rarely do you have one conversation and that's it. That settled. We've decided usually this is more of a process. And some of the things that I think will help along that process. To your point, if you are living paycheck to paycheck, there are going to be many symptoms that are playing out in your lives today. So as those things play out, say, honey, this is just the type of thing. These are the types of things I want to make better. Do you see how much struggle that was to pay that bill? And then you can start to show her. Here's some of the symptoms that we're Feeling and she's going to get on board. But I think the idea that, hey, I'm just gonna say this. She's gonna be excited and we're gonna ride off into the sunset in one night is not.

[Dave Ramsey]

It would mean a lot to me if you would listen to this stuff and tell me what I'm missing here with this, because I'm really excited about this idea because I've been so scared for so long, and I really want to change our family tree. I really want our kids to have a different life. And the way we've been living with the kind of money we make is not okay with me. I want us to prosper. I want us to end up with something at the end of the story. I want the kids to have a different life and just keep talking about that kind of stuff instead of talking about, we need to sell your car and let's get on the debt snowball. You need to be more intense, and you ought to go get a job and start talking about all these what's. Nobody lines up on the what's until they get the whys. So you got to talk about why, why, why, why, why. And you can talk about your why. And you ask her, okay, what would it be like for you? Dream together. Dream in hd, High definition dreams. What would it be like for you if we had a million dollars?

[Nathaniel]

I mean, the best question I remember when I used to listen to the show long before I worked here is what would life feel like if you had no payments? You know, that.

[Dave Ramsey]

Feel like they have no debt?

[Nathaniel]

I mean, we. We're putting this much away. What could we do with that money? What would it feel like to get our paycheck every, you know, twice a week or once a month, whatever it is. And it's just our money, and we get to decide together the fun things we want to do with it. That's a great question to ask.

[Dave Ramsey]

Yeah. So, yeah, those of you that are just picking up on this stuff, be real careful that either one of us and our personalities or the stuff that we teach or the name Ramsey becomes a cuss word in your house because you use it as a club on somebody. Like, you know, because, like, suddenly you got smart and everybody else is dumb and. And you come in there swinging the bat at everybody and they're like, I don't like this Ramsey stuff. I don't even know what it is. I don't like it. Of course they're not going to do it. But that's you coming in saying, you know, we're stupid and we're not doing this anymore and we're selling your car and. What? No, I don't think so, buddy. And all of a sudden you've got a spouse that's not plugged in and instead you got. And the other thing is this. Very rarely are both spouses at the same intensity level exactly the entire time.

[Nathaniel]

That's so true, Dave. So true. It's an unrealistic expectation.

[Dave Ramsey]

Yeah.

[Nathaniel]

You can balance each other out and push each other where one is falling off and you know what I'm saying?

[Dave Ramsey]

I need some level of intensity.

[Nathaniel]

That's right.

[Dave Ramsey]

But if, if you're, if, you know, Mark, if you're running at a 12, if you, if she's running at an 8 and you're running in the same direction, you're gonna be fine.

[Nathaniel]

Yeah, that's great.

[Dave Ramsey]

It's. If she's running at a 0 or a negative 4, that's when you got a problem. Right. But yeah, you're. It's okay. But all of that comes back to why not? What? And listen, this guy, he's telling us we're stupid. That's. Yeah, because I will tell you that because I love you and I want you to stop being stupid. See, there's that delivery thing right there. This is the Ramsey Show. You know, one of the first things I discovered working in the financial world is how absolutely devastating it is when the breadwinner of a family dies and there's too little life insurance or none at all. Grieving families are suddenly left behind, scrambling to pay bills and trying to make ends meet. I also discovered that there are a lot of rip offs in the life insurance world like that whole life crap posing as an investment opportunity. What you need is level term life insurance, usually 10 to 12 times your income, which is the smartest, most affordable way to protect your family. The key is finding an independent broker who represents a ton of companies and works for you, not for the insurance company. This is exactly what my friend Jeff Zander and his team at Zander Insurance are all about. They shop the term life companies to find you the best options. And they've been around for over 95 years, so you know they'll be there when you need them. Zander is the real deal and that's why they've handled all my personal insurance for over 25 years. I trust them and you can too. Visit Zander.com for instant online quotes or for a more personal touch. Give them a call at 800-356-4282. Are you staying on track with the baby steps? Take a quick quiz to check your progress and receive a personalized plan just for you, which is like what a personalized plan is. So simply head to the show notes, click the link, are you on track with the baby steps? And complete the quiz very easy. And then we'll ship you out a thing straight to you that is just for you, baby. Yeah, that's fun. Devin's in Fort Wayne, Indiana. Hi, Devin. What's up?

[Jade Warshaw]

Hey, how you doing?

[Dave Ramsey]

Good, man. How can we help?

[Jade Warshaw]

Yeah, so I'm kind of going through something now. I'm just being sued for $15,000. Trying to figure out how to go about it, I guess.

[Dave Ramsey]

What are you being sued for? $15,000. What time?

[Jade Warshaw]

I got to a car accident probably about two years ago now. Didn't have insurance on the car, so they're coming after me for damages.

[Dave Ramsey]

Oh, okay. All right, cool. And it's been two years. Yeah. And who's the insurance company? Who's the insurance company is coming after you?

[Jade Warshaw]

Safeco.

[Dave Ramsey]

Okay, cool. All right. And have they sued you?

[Jade Warshaw]

Yeah, the judgment went through seventh to last month.

[Dave Ramsey]

Awesome. Okay, cool. And what do you make at this point?

[Jade Warshaw]

I'm starting the job Monday, so it should be gross around 1800, but it's 1800 what?

[Dave Ramsey]

1800 what? Week? A week?

[Jade Warshaw]

Yeah.

[Dave Ramsey]

Okay. All right. And you're working 40 hours at the new job?

[Jade Warshaw]

Yeah.

[Dave Ramsey]

How old are you?

[Jade Warshaw]

24. I'll be 25 tomorrow.

[Dave Ramsey]

Why didn't you have insurance?

[Jade Warshaw]

Oh, I mean, just let it lapse. Didn't pay the bill, and I guess just being stupid with my money.

[Dave Ramsey]

Yeah. That didn't work good, did it?

[Jade Warshaw]

No.

[Dave Ramsey]

You got insurance now? Yeah, absolutely. Okay. You learned your lesson then, right?

[Jade Warshaw]

Yeah.

[Dave Ramsey]

Good. Okay, cool. So the new job, what are you doing building RVs? Okay. You're working 40 hours?

[Jade Warshaw]

Yeah.

[Dave Ramsey]

Okay, cool, cool. All right, so here's the deal. A insurance company, let's put their lawyer's shoes on, their manager's shoes on for a minute. And I'm going to look over at this guy. This guy owes me $15,000. He's not a multimillionaire. He doesn't make a lot of money. He's 24 years old. He's a young broke guy.

[Jade Warshaw]

Right.

[Dave Ramsey]

That's what I see. If I'm coming after you, you're going to be hard to collect from because you don't have anything.

[Jade Warshaw]

Right?

[Dave Ramsey]

That's what I see if I'm looking over from their shoes at you. Is that fair?

[Jade Warshaw]

Yeah.

[Dave Ramsey]

Okay. That's to your advantage, dude.

[Jade Warshaw]

Okay.

[Dave Ramsey]

And because that's the card you play. So the attorney that sued you, you've got their name, right?

[Jade Warshaw]

Yeah, they gave me the name and phone number.

[Dave Ramsey]

Good, good. Okay, here's what I want you to do. I want you to scratch together by working another by two. Working two extra jobs on top of the one you just got. And I want. Are you living at home?

[Jade Warshaw]

Yeah.

[Dave Ramsey]

Okay, so you don't have any expenses much?

[Jade Warshaw]

No, not really.

[Dave Ramsey]

No going, no going out on weekends, no happy hour, no nothing. You're broke and being sued. You need some money. All you're going to do is work and stack cash for a minute. Okay? I want you to work three jobs. Okay?

[Jade Warshaw]

Okay.

[Dave Ramsey]

I want you get $5,000 really fast.

[Jade Warshaw]

All right?

[Dave Ramsey]

How fast can you get $5,000? If you do what I'm telling you to do? Month and a half.

[Nathaniel]

Month?

[Jade Warshaw]

Yeah. Month and a half.

[Dave Ramsey]

Yeah. And then I want you to call a lawyer. Are you in a good church by chance? No. You know any good lawyers? Just her personal friends or family or anything?

[Jade Warshaw]

No.

[Dave Ramsey]

Okay, then you're going to have to take a chance, but you're going to call the lawyer and I want you to play Broke Kid records for him, okay? I'm a broke kid. I'm 24 years old. I got no money. I was stupid. I didn't have insurance. I screwed up. I know this is a debt, and I know you can come after me. And I got nothing. So you're not gonna get nothing, right? There's nothing for you to get, dude. But I did work six extra jobs because my financial coach told me y'all would settle with me. I'm your financial coach and I just told you that.

[Jade Warshaw]

Okay?

[Dave Ramsey]

And I'm gonna offer you $5,000 cash right now to settle this whole thing. Let me tell you what he's gonna do. He's gonna whine, spit, roll around the floor a little bit, and he's going to say, $7,000. And you're going to say, I don't have seven, I have five. And he's going to whine, he's going to run around the floor, he's going to spit, and you're going to say, I got five. Do you want five? Because I'm a broke kid, and after this phone call, I'm going to use some of that and just go file bankruptcy and you're going to get zero. But I'd like to just get this settled and you're going to have to negotiate. Play Broke Kid. Broke Kid records. And get him to take your five grand as settlement in full. Remember that phrase? Yeah, I want to settle this in full. No, I'm not paying payments, and I'm going to settle it in full. And they'll take your money. You're going to work at it a little bit, okay? But this is the price you pay for not having insurance, and you're going to go get it straightened out, and you'll never forget this the rest of your whole life. I did stuff when I was 24 that changed the direct trajectory of my whole life, too. Then they'll take it, won't they, Jade?

[Nathaniel]

They'll take it. They'll take it.

[Dave Ramsey]

They'll take it because they don't think they're going to get anything, dude.

[Jade Warshaw]

Right?

[Dave Ramsey]

They're going to consider this a gift from heaven.

[Nathaniel]

That is true.

[Dave Ramsey]

Okay? Because statistically, you're a bankruptcy looking for a place to happen. But, dude, there's no way you're bankrupt. You can make this kind of money and pay it off. You're going to get it all cleared up because you just stack casual, live at home, and go work five jobs. You'll clear the whole thing up if you have to, but you don't have to. You call them and work a deal. Get it in writing from them before you give them any money.

[Jade Warshaw]

Okay.

[Dave Ramsey]

I need it in writing that you accept $5,000 of settlement in full on this claim on this judgment. When I get that in an email, I will wire you the money that day. But you got to go get the money first before you make the phone call. Right?

[Jade Warshaw]

Right.

[Dave Ramsey]

So are you going to do that? You think this will work?

[Nathaniel]

Yeah, there's no reason it shouldn't. You said you're making $1,800 a week now and you're living at home. Yeah, instantly, Yeah.

[Dave Ramsey]

I was on the verge of calling.

[Jade Warshaw]

Him in this morning, making a payment plan.

[Dave Ramsey]

I was like, you know, no payment plans. No payment plans.

[Nathaniel]

You have the $5,000.

[Dave Ramsey]

Now you put the $5,000 in your hand and you wave it under his nose and you play Broke Kid Records.

[Jade Warshaw]

Okay?

[Dave Ramsey]

And he's a lawyer. He'll bite.

[Jade Warshaw]

Right?

[Dave Ramsey]

Or she's a lawyer, she'll bite. And because they know, they. They know there's not going to be any payments. My financial coach said under no circumstances, bad guy off of me. Devin, just say my. My guy told me I can't do that.

[Nathaniel]

My guy?

[Dave Ramsey]

I'm your guy, okay? Because I just told you you can't do that. And you say I don't I don't know what I'm doing. I'm just a broke kid. But I got $5,000. I do know that, and I give you that if you want to be done with this. But you're not getting that and payments because my guy told me I can't do that.

[Jade Warshaw]

Right?

[Dave Ramsey]

You gonna do this or not? Yep.

[Jade Warshaw]

I got you.

[Dave Ramsey]

All right. You're not bankrupt, dude. You just need a plan.

[Jade Warshaw]

Okay, I appreciate it.

[Dave Ramsey]

Go get them. If you need more help, you call us back. That's why we're here. Gotta have a plan.

[Nathaniel]

You gotta have a plan. Yeah, I would. No way in the world would I go payments on that or bankrupt over that. No, you can't.

[Dave Ramsey]

You don't. You don't file bankruptcy on $15,000 when you're making 1800 a week. Come on.

[Nathaniel]

And you're living at home. You don't have the biggest expenses that most folks have.

[Dave Ramsey]

Like, any mama gonna cook you some meals, get this mess cleaned up.

[Nathaniel]

You don't have rent and you don't have daycare.

[Dave Ramsey]

Quit going to happy hour and pay your dad gum insurance.

[Nathaniel]

Say it. I didn't say it. I'm like, in many ways, we went easy on you because we could have said, listen, you've got the money. You make 7, 200 bucks a month. Pay it off and, you know, in two months and pay it. But, you know, I get it.

[Dave Ramsey]

You can go the other way, too. But you just work it, and it's. The whole process is going to be good for you. You're going to. Because, you know, you're. You're never going to do it again.

[Nathaniel]

No.

[Dave Ramsey]

He always make sure the insurance gets paid.

[Nathaniel]

And it could have been so much worse. It could have been bankruptcy. You know what I mean?

[Dave Ramsey]

Like, I mean, it could have hit. He could have hit my car.

[Nathaniel]

That's what I'm saying. Oh, gosh.

[Dave Ramsey]

That wouldn't have been 15. I'm just saying.

[Nathaniel]

Don't. Didn't you once tell me that somebody hit one of your cars in a. In a fat. You know, in a restaurant parking lot?

[Dave Ramsey]

Yeah. You just put a whole thing on about the size of a quarter, which would have cost him more than a.

[Nathaniel]

Quarter, but a quarter of what?

[Dave Ramsey]

The night I turned 16, my daddy let me have the keys to pickup truck. I went to the Pizza Hut, and I first got my driver's license that day. First time I ever drove by myself out into the wild. When I'm backing out of the thing at the Pizza Hut, I hit a Corvette with the bumper of the truck. So been there, done that, man. Been there, done that. 16 freaking years old and an idiot. Wow. This is the Ramsay Show. Hey, technology has changed a lot in the last 30 years. Now, the hot topic is AI. And I understand that it might seem intimidating, but if you use AI the right way, it's just another tool to help you work smarter and faster, like a calculator or a cordless drill. So if you run a business, you'd better get on board with it before you get left behind. And NetSuite by Oracle offers AI powered tools that help small businesses improve efficiency and make smarter decisions by bringing all their major business processes into one platform. That way, there's one source of truth for the real time data you need to take advantage of opportunities. Then you can forecast better, scale more efficiently, and streamline those manual tasks that take too long. So join the more than 41,000 businesses, including Ramsey Solutions, that rely on NetSuite to help tackle some of their biggest challenges. And right now, you can download the CFO's guide to AI and machine learning at netsuite.com Ramsey that's free at netsuite.com Ramsey thanks for joining us, America. Next week I will be with Dr. John DeLoney in three more cities concluding the Money and Relation Relationships tour. Monday will be in Phoenix, Arizona, May 5, Fort Worth on Wednesday, May 7. About four tickets left on that one. A handful only. Kansas City sold out for Friday, May 9 and Fort Worth basically sold out. But you can probably get a. You can pull up the thing and see which seats are there, but it's a handful and so you can find out what's going on. Phoenix, I think we got plenty, but it is coming up Monday, so need to get your tickets will be out there. If you're tuning in on YouTube or podcast, click the link in the show notes and you can buy. There's no reason to be trapped in the same money problems, the same relationship problems. And you get to hear Dr. John and I. I can promise you this, it'll be funny and informative. Your reluctant spouse will actually have a good time. So make a date night out of it and come out one night. We'd love to see you. Christopher's in Knoxville. Hi, Christopher. Welcome to the Ramsey Show.

[Jade Warshaw]

Hi. Thank you for taking my call, Dave.

[Dave Ramsey]

Sure. How can we help?

[Jade Warshaw]

I am in about $19,000 worth of debt. I have about $25,000 invested in a mutual fund. I recently moved out to Knoxville from Albuquerque and I'm just trying to get some clarity on what I should do next. I'm only making about $3,000 a month out here in Knoxville. I'm a personal trainer at a gym, and I. Me and my girlfriend that I came out here to support, we're going through a breakup right now and just trying to figure some things out.

[Nathaniel]

So you moved all the way to Knoxville doing the personal training thing. Not making too. Too much. But what's your point of staying there if. If did you go just for the relationship or is there any other reason you're there?

[Jade Warshaw]

Yeah, pretty much just for the relationship. Her and I are still living together, trying to work things out, but it not super clear on if that's going to happen, but I'm just trying to do some growth as a man right now. So I told everybody I'm going to be out here for a year. I'm going to help her get through PA school, and I'm still trying to stick to that even though. And I'm not like. Like a stalker or anything, like, staying out.

[Dave Ramsey]

No, that's. That's bull.

[Jade Warshaw]

What?

[Dave Ramsey]

You absolutely do not need to help somebody get through PA school that you broke up with, and you don't need to be living in the same house with somebody you broke up with.

[Nathaniel]

Yeah. What's that mean, help her get through PA school? Are you paying for it?

[Dave Ramsey]

You don't do that unless you're married emotionally.

[Jade Warshaw]

Making sure all the things around the house are done. Just interesting, all those things. Yeah. And we broke up maybe a month and a half, two months ago.

[Dave Ramsey]

But you still live there.

[Jade Warshaw]

Yeah, I. We.

[Dave Ramsey]

You know how weird that sounds?

[Nathaniel]

It's weird.

[Jade Warshaw]

Yeah.

[Nathaniel]

You wouldn't. It's weird. All of it. Yeah, I would move out immediately, basically. If you can, like, get out of there, you guys need to separate your living situation.

[Dave Ramsey]

Oh, wait a minute. Let me, Let me. I'm so confused because I'm old, so I don't understand this stuff, but I've been married 43 years, so I don't know how to do what you're doing. So I don't know how you go through it. You either are together or you're broken up. I don't know how you kind of stand in the middle with one foot on the boat and one on the dock, and the boat's leaving. I think you're just going to get wet. So am I missing. I mean, listen. So I think it's probably healthy for you to make a call. Are you done with this relationship? Relationship? Christopher, I don't want to be, but I didn't ask that I said, are you done with this relationship?

[Jade Warshaw]

No, sir.

[Dave Ramsey]

Okay. Is she?

[Jade Warshaw]

No, sir.

[Dave Ramsey]

Then why are you telling me you're broke up?

[Jade Warshaw]

Because we are not technically boyfriend and girlfriend anymore.

[Nathaniel]

But here's. Do you see?

[Dave Ramsey]

That's kind of like being done with the relationship. Dude.

[Nathaniel]

And here's the problem. You've created all of these high stakes that are. That are causing you to make decisions you might not otherwise make if you were just dating somebody and you lived in your house and she lived in hers, and you lived in the state that you wanted to and you didn't follow her somewhere. The things that happen in the relationship, you could very clearly filter them as what they are. But now the stakes are high. You've moved all the way out here. You're sharing a residence. So it's not as easy to look at a situation and go, that's not for me. I'm gonna hightail it out of here. Now you have to think about where you're going to live. Are you going to stay in this state? What about rent? What about this? Do you see how it makes something that should have been simple very, very complex with a lot of weighted stakes?

[Dave Ramsey]

Yeah. So I think you're going back to Albuquerque.

[Nathaniel]

I do, too.

[Jade Warshaw]

Okay. I appreciate you guys.

[Dave Ramsey]

Thanks for the.

[Nathaniel]

Sorry, man.

[Dave Ramsey]

I don't. I don't. I don't know what he's doing, but I think he should do that.

[Nathaniel]

Yeah.

[Dave Ramsey]

I don't know what he's going to do. I can't tell anything about it.

[Nathaniel]

So he should go back. He should not go back home. Just go back to Albuquerque.

[Dave Ramsey]

That is home. But. Well, not home home, but yeah. Gotcha. Yeah.

[Nathaniel]

Not to mama's house is what I'm saying.

[Dave Ramsey]

Yeah. Do the man thing. Have your own place, pay your own bills, work like a person. All that kind of stuff that do. Do the man thing and stand alone. And then you'll like you better and the next time you go into a relationship, you'll.

[Nathaniel]

Yeah.

[Dave Ramsey]

Be a different person.

[Nathaniel]

Yep. Rather than mistakes are research.

[Dave Ramsey]

They're good.

[Nathaniel]

They're a good way to learn what not to do, what works.

[Dave Ramsey]

I figured out that leaves a mark. Yeah.

[Nathaniel]

That's right.

[Dave Ramsey]

Ouch. Sam is in New York City. Hi, Sam. How are you?

[Jade Warshaw]

Hey, guys. Thanks so much for taking my call. I really appreciate it.

[Dave Ramsey]

Sure. What's up?

[Jade Warshaw]

So, as you said by, you know, me, living in New York City, I live in one of the most expensive cities in the world. But I have some money saved. I'm not in any depth. I'm on Baby step five, I guess. I don't have kids, but I'm saving for my future kids, college. I was just wondering, with the money I do have saved, would it be better to invest with the volatility in the market, I'm a little afraid to invest right now, or just to look into buying a house or something like that.

[Dave Ramsey]

The definition of investing is you're going to leave the money alone at least five years. Otherwise you're parking money or you're saving money or you're speculating. So if you're investing, I don't worry about the market's volatility because the market smooths out over time.

[Jade Warshaw]

Right.

[Dave Ramsey]

All these, the news story of the day that the market throws a temper tantrum with. Stock market's a four year old with a temper tantrum. On a given week, over a given decade, the stock market's a wise old woman. Okay, so you're looking for the wise old woman, you're looking for the decade play and then you don't worry about market volatility. I see the volatility, but I don't care. I put money in it every week. I just keep, I just keep putting money in now. But, but are you going to be leaving the money, Are you going to be leaving alone, Sam, for five years, or have you got something else in mind?

[Jade Warshaw]

Well, that's, that's honestly kind of what I'm, I could, you know, it's just, it's really just a matter of like. So basically if I was to break down my, like, my money, you know, I've got like 240 that I can't touch in retirement and just like good mutual fund investments out. And then I have. And then I've got like 75, not like cash, but you know, like investments that I could cash out. Right. And I just don't know what that. Like, first of all, I just, I constantly feel like I'm just like behind the game and I'm just like, you know, not doing enough and.

[Nathaniel]

Oh.

[Jade Warshaw]

Because I don't own any property, I'm renting, like.

[Dave Ramsey]

And then what do you make?

[Jade Warshaw]

I make like, I just switch jobs. I just switched careers and I do sales.

[Dave Ramsey]

What are you gonna, what are you gonna make this year, Sam?

[Jade Warshaw]

So. Well, it's, it depends on, you know, if I quote us there, Sam, what.

[Dave Ramsey]

Are you gonna make this year?

[Jade Warshaw]

Probably like 200.

[Dave Ramsey]

Okay, that's what I'm thinking. All right. And so you're doing great. And you're how old?

[Jade Warshaw]

26, 29, sir.

[Dave Ramsey]

Okay. Pretty Close. All right, good.

[Jade Warshaw]

I appreciate the, you know, made me feel good.

[Dave Ramsey]

No, you're. You're doing. You're doing really, really, really great. I mean, you're killing it. You're a great sales guy. You're confident. You know what you're doing. You're a saver by nature. You're stacking cash. You're doing nothing wrong, man. You don't have nothing wrong. I mean, you might be a little heavy with a 75 sitting in cash. Some of that's in investments though, right? Yeah, it's just not. It's just not in retirement. That's fine.

[Jade Warshaw]

Yeah. It's just not in retirement. Yeah. Yes, sir.

[Dave Ramsey]

So if you're in mutual funds with some of that and some of that, your emergency fund, I think you're perfect. I just continue to stack some cash. You're not a loser because you haven't bought real estate. At 29, you already got a $300,000 net worth and you're making 200 a year. You're on your way to millionaire, man. You'll get the real estate when the right time comes. And when you settle into wherever it is you're going to be, if it's going to be there, that's fine. But there's nothing. You haven't done anything wrong.

[Nathaniel]

I think it's excellent. Way to go. I'm proud of the guy.

[Dave Ramsey]

Well played, sir. Well played. This is the Ramsey Show. This show is sponsored by Better Help.

[Nathaniel]

All right, You've heard me say it.

[Jade Warshaw]

A thousand times and I'm gonna keep saying it. You're worth being well. And listen, therapy can help. I see a therapist, and let's be.

[Dave Ramsey]

Honest, a lot of you should, too.

[Jade Warshaw]

But let's be real. Taking that first step to see a therapist can feel overwhelming. Maybe it's the time. Maybe you have some preconceived notions about therapy.

[Dave Ramsey]

Maybe it's the cost.

[Jade Warshaw]

But we spend money on gym memberships, organic groceries, essential oils, Little league practices, tracker watches.

[Dave Ramsey]

But for some reason, when it comes.

[Jade Warshaw]

To our mental and emotional well being, we hesitate.

[Nathaniel]

Your mental and emotional health are just.

[Jade Warshaw]

As important as your physical health. And the good news, Better help makes therapy more affordable and convenient than ever. It's online so you can talk with your therapist when it works for your schedule. No more waiting rooms, no long commutes, and no six month waiting lists. You just get online and fill out a short survey to get matched with a licensed therapist. And if it's not the right fit, you can switch at any time for no extra cost. Your well being is worth it. Visit betterhelp.com DeLoney to get started. That's betterhelp H-E-L-P.com DeLoney.

[Dave Ramsey]

Live from the headquarters of Ramsey Solutions, it's the Ramsey show where we help people build wealth, do work that they love and create actual amazing relationships. I'm Dave Ramsey, your host, Jade Washaw Ramsey, personality number one best selling author, is my co host today. Linda is in Detroit. Hi Linda, how are you?

[Jade Warshaw]

You good. Thank you for taking my call.

[Nathaniel]

Sure.

[Jade Warshaw]

How can we, if my church should go into debt to purchase a parsonage?

[Dave Ramsey]

No.

[Jade Warshaw]

So we own a. I figured that'd be your answer.

[Dave Ramsey]

Yeah.

[Jade Warshaw]

Could I share some more information or short.

[Dave Ramsey]

But I mean, that's the answer. But let's hear the details. Yeah.

[Jade Warshaw]

Okay. So we own a home that's next door to the church. And remember at the church we've used this house as a rental, but now we'd like to sell it. And when we bought the house years ago, a few members that are on the church board had asked for first dibs if we ever decided to sell the house. So we gave the board the opportunity to purchase it for 210,000 on a cash offer. The home appraised at 233,000. So the board presented the opportunity to the church and then the congregation voted to go ahead with purchasing the home. But they left the option for how to pay for the home up to the church board. So we were then presented with a counter purchase agreement, but it's a financed offer and we were really clear with the board that this was the opportunity to purchase the home for $210,000 cash. We wanted to, you know, give the church a deal as a, you know, act of goodwill. And the church has the money. They have well over $400,000 in extra savings that they have in CDs right now.

[Dave Ramsey]

And you go, you attend this church, you attend this church, correct?

[Jade Warshaw]

Yes. Yes, that's correct.

[Dave Ramsey]

Okay.

[Jade Warshaw]

But the board wants to keep that money in savings and not spend it on the home. And so I. We feel like we don't want to accept that mortgage offer for two reasons. One is because I don't think that the church needs to go into debt to buy the home. It's not a need. They have the money in savings to pay cash. Frankly, I think it's completely foolish for the church to go into debt for it. And additionally, we buy and sell a lot of real estate. And we know that mortgage offers can tend to drag on and on. They take Longer to close. Sometimes they require dumb little stuff to be fixed on the house. And so we're willing to accept less on a cash sale just for simplicity where, like, if we list it to the public, we would probably ask closer to the appraised value or even more to help us, you know, give. Give us time and feel like we can put up with the nonsense that comes with a mortgage because we're getting more money for the house. So, unfortunately, a lot of our friends at church have told us that we're straight up in the wrong, that we're being absolutely ridiculous to insist on a cash sale. And I just wondered if you agree, if you think that we're being ridiculous to say that we want it to be a cash sale.

[Nathaniel]

I mean, just that first pass on this, it's your property, and you get to choose what offer you accept. That's thing one. But if you're attempting to control. Are you on the board at all? Are you part of that at all? Are you in leadership on the. No, no leadership.

[Dave Ramsey]

But I, you know, I think she's. She's a member of the church and she doesn't like what they're doing and she doesn't want to participate in it. I'm fine with it.

[Nathaniel]

I think I. That part, I think it's fine. And it's your property. You get to choose. The only thing that I thought you do have to be careful of is, like, trying to manipulate it too much. The. The side, the side of it that's on your side is your side. That's the property side. You trying to manipulate the church side to do what you specifically want them to do. I feel like you have to be careful.

[Dave Ramsey]

Well, if this was an independent issue and it wasn't your house, but the church was going to buy another house, and you're a member that has the same concern, then there's still the concern. It's still stupid.

[Nathaniel]

And you could voice it, but you can't control it.

[Dave Ramsey]

She's right. Well, you can't control it because you're not. You're not part of the leadership. The only thing you know, you can just decide whether this is a deal breaker or not. So here's the interesting thing that you're pushing against and even realize probably Larry Burkett used to say that oftentimes in churches, the business leaders that are members of the church end up on the church board. And so the church board can start to look like the chamber of commerce. It's a whole life agent, a car dealer and a banker, all of which believe in borrowing money. And so then the church business starts being conducted like the world conducts business instead of the church, where instead maybe we ought to actually say, what does the Bible say about debt? And find me one time in scripture that there's a positive thing said about debt. You can't. It's not there. Find me one time in scripture that debt is used as a tool for God's kingdom. Not in there anywhere. So these guys are functioning like their banker that they are, or the car dealer that they are, or whoever it is, is sitting on this church board. And they're thinking like they think down at the office instead of thinking about managing God's stuff, God's ways. And that's what the breakdown is. That's the breakdown. And so I would challenge the church board to start making decisions about the church's business through the lens of scripture, not through the lens of a finance professor.

[Jade Warshaw]

I think that's really good advice. Thank you for that.

[Dave Ramsey]

Yeah, I don't think they're going to do it, though. Yeah, I don't think they're going to do it. And so I think what I would do if I were in your situation, I would just say, you know, we made you an offer. We do not agree with the church going into debt to do this, and the offer was on a cash basis, and that's the only way we're going to do the deal. And if you don't want to do that, that's okay. We'll just sell the house. We're fine with that.

[Jade Warshaw]

Yeah, I agree.

[Dave Ramsey]

And we're not throwing a fit. We're not throwing a temper tantrum. And by the way, your friends, I don't know what the flip they've got to do with any of this. They don't get a vote in this.

[Jade Warshaw]

Well, friends that are on the church board that do have the vote that are making the decision.

[Dave Ramsey]

Okay.

[Jade Warshaw]

Yeah.

[Dave Ramsey]

Then I think they're being unreasonable.

[Jade Warshaw]

Okay.

[Dave Ramsey]

To dictate to someone how they deal with their own asset.

[Jade Warshaw]

Okay.

[Dave Ramsey]

Yeah. This is, you know, so if. I guess if you've got friends on the church board, maybe you need to tell them. Let's. Why don't we use the Bible as our guideline since we're in church and all. Oh, there's a novel thought. You know, and instead of you telling me about how you're going to be wise and hoard cash over here, man.

[Nathaniel]

This sounds like some drama. This.

[Dave Ramsey]

Well, I'm.

[Nathaniel]

Hey, drama.

[Dave Ramsey]

You know, I didn't. I didn't start the Fight. I mean, all you did was offer selling the house and then they got all up in your business telling you how to do stuff because they're a freaking car dealer. Which one of them is one of my car dealer or a banker? Am I right?

[Jade Warshaw]

Yes.

[Nathaniel]

Oh, man.

[Dave Ramsey]

Almost like I've done this before.

[Nathaniel]

Oh, man.

[Dave Ramsey]

So, yeah, I mean, here's the thing. I had to decide years ago that I'm not going to leave a church over this kind of stuff. Okay. Unless there's an integrity issue. Because this kind of stuff is in every church every day. That happens to be the church that I go to now. The pastor has been a good friend for many years and he believes in the stuff we teach and runs the thing debt free. But the church I was at before that borrowed money and I didn't leave over them borrowing money. And I'm freaking Dave Ramsey. So, I mean, you know, come on. So we're not trying to pick a fight all the time. But I do challenge pastors and church boards or elders or deacon boards or whatever you want to call them at your place to use the Bible as your guideline instead of what they taught you in finance class. When you're handling God's assets. By the way, they're all God's assets, including yours. But. Yeah, so. But I can't always get them to do it and I have to just be friends with them anyway. And I've got lots of friends that do things wrong and they're still my friends.

[Nathaniel]

That's true. That scene y'all were playing out, though, that sounded like a movie. That sounded like a movie scene.

[Dave Ramsey]

I hope keep you calm and still be smiling while you're doing it all.

[Nathaniel]

There you go. There you go.

[Dave Ramsey]

This is the Ramsey Show.

[Nathaniel]

Bless your heart at the end.

[Dave Ramsey]

Bless your heart.

[Jade Warshaw]

Yeah.

[Dave Ramsey]

When you go through a job loss or job change and lose your employer sponsored health insurance, there's no better time to try Christian Healthcare Ministries. That's right. There's another option besides COBRA to take.

[Nathaniel]

Care of your family during that time.

[Dave Ramsey]

Because if you didn't know, the cost of COBRA has gone up a lot in the past few years. And CHM is an affordable, biblically based alternative to health insurance. So do your own research. CHM is a great option that's potentially a third of the price of cobra. It's a health cost sharing ministry that's helped hundreds of thousands of families like yours take care of over $11 billion in medical bills since 1981. And the support you get from CHM goes beyond helping you Pay for medical bills. Members become part of a family that prays for them when they have a medical event. Try getting that with cobra. So if you're going through a job loss, life change, or just want to explore other options to save on health care, CHM might be perfect for you.

[Nathaniel]

CHM programs start as low as $98.

[Dave Ramsey]

A month, so find out [e-mail] budget.

[Nathaniel]

That'S chministries.org budget people ask me all the time, George, what's your number one money saving hack? Glad you asked. Nothing makes me happier than helping another frugal friend. So here's the hack. Get on a budget. Seriously, how are you supposed to save money if you don't know how much you're spending in the first place? And that's what makes the EveryDollar budgeting app a game changer. With EveryDollar, you'll get a clear picture of your spending and from there, it's easy to see where you can get more intentional cut back and save more money. So how much money are we talking here? Well, the average every dollar budgeter frees up $395 in their first budget.

[Dave Ramsey]

That's the hack.

[Nathaniel]

And if you ask me, I think you're way above average and you'll save even more. So what are you doing still listening to me? Go download the EveryDollar app for free and start saving more money right now.

[Dave Ramsey]

I'm Dave Ramsey, your host. Thanks for being with us. Samantha is in Chicago. Hey Samantha, what's up?

[Jade Warshaw]

Hi. Thank you for taking my call.

[Dave Ramsey]

Sure. How can we help?

[Jade Warshaw]

So just to preface, I want to say that I have more views that are in accordance to you about saving, being debt free, all of that. Then my husband is more on the line of investing into business. So I have a question about investing into farming for first generation farmers. So my husband and I started our own hay business three years ago because it's always been his dream. And then we've just been building it up slowly as a side business alongside our regular jobs. Last year we bought a $12,000 tractor that we still owe on, but that is zero percent interest because it's just through a farmer, not a bank. And then this year we bought a $20,000 tractor so we would have two tractors and then just start upgrading our equipment slowly. And that tractor has 8.4% interest rate through a bank. My husband's point of view was that the tractor's profit that it would bring in would pay itself off in two years versus if we didn't get it right now, then we would probably be saving for about five years before we could afford it. So we want to know if you think that it was a bad idea to invest in this equipment and if you think that we should just be cash flowing all of these big purchases since we're new to farming.

[Dave Ramsey]

Farming is a business.

[Jade Warshaw]

Yeah.

[Dave Ramsey]

Anytime you borrow money in business, you increase your risk, your probability of failure.

[Jade Warshaw]

Yes.

[Dave Ramsey]

The more money you borrow, the more likely you are to fail. The number one cause of small business failure is cash flow problems. And the number one cause of cash flow problems is debt. The more you borrow, the higher probability is you fail.

[Jade Warshaw]

Yeah.

[Dave Ramsey]

Simple. And he acts like there's no risk involved. And that's absolute bullcrap. Of course there's risk involved. You're freaking farming. Of course there's risk involved. I mean the very nature of farming is we don't know what the crop is going to be.

[Jade Warshaw]

Yeah, true.

[Dave Ramsey]

It's not predictable. He acts like it's automatic. It's not automatic that in two years it's not automatic that it's going to take five years to buy a tractor either. So we encourage all businesses to, in the name of sustainability, in the name of probability of success, to avoid debt. And I avoid debt. I avoid debt. I've grown this business for 30 years with never borrowing a dime. And I've invested heavily into the business, but it was all profit that went back into the business. I'm sitting in a building that's, you know, the campus here is about $600 million.

[Jade Warshaw]

Cash.

[Dave Ramsey]

Cash, no debt.

[Nathaniel]

There's also the, the, the mental side of it. I think for whatever reason, people break it up mentally and they go, well, personal debt is my personal debt and business, that is business debt. But at the end of the day, the same person owes both of those debts. Do you see what I'm saying?

[Dave Ramsey]

So, so that's another lie.

[Nathaniel]

Yeah. At the end of the day, you're still liabing all of that.

[Dave Ramsey]

Yeah. You're, you're liable for that. Farmer doesn't care whether that you bought the tractor from and financed it with. He doesn't care whether the hay comes in or not. He wants his money.

[Nathaniel]

That's right.

[Dave Ramsey]

A banker that's got eight and a half percent on that. They don't care. They don't care if your husband falls and breaks his leg and then able to drive the tractor and bring the crop in.

[Jade Warshaw]

Yeah.

[Dave Ramsey]

They don't care if somebody else in the family gets ill. And so he's unable to because he has to take care of his family in another way or isn't able to cut hay. They don't care. They just want the money, period.

[Nathaniel]

So you have to decide what. Whatever your philosophy is if you choose. Like this is my philosophy in life, then this is my philosophy in life, whether personal.

[Dave Ramsey]

I've had this argument. I mean, I've been. I grew up in rural America. I'm not anti farm, I'm pro farm. But I've had this argument with farmers. They act like they're, like they get somehow a pass on math because I'm a farmer. You don't get a pass on math. Math is math. Whether you run a heat and air company or whether you run a farm or whether you run a real estate business. I don't care what you run. Math is going to kick your butt if you screw with it and y'all are messing with it, you're asking for trouble.

[Jade Warshaw]

Yeah.

[Dave Ramsey]

You're begging for problems because these purchases are made. The only way this all works in his theory is if everything goes exactly as planned. And the number of times things go exactly as planned is precisely zero.

[Jade Warshaw]

Yeah. Luckily, I like. I'm more very much into budgeting and financing.

[Dave Ramsey]

So it won't help if he keeps buying tractors on credit.

[Jade Warshaw]

I know. Yeah, I have it worked out. So I'm not including any of the income from the hay business and we can have it. Both of those tractors paid off in 16 months. And all of our other.

[Dave Ramsey]

No, now you're assuming. Now you're assuming and presuming.

[Jade Warshaw]

Yeah, I'm also assuming that we're going to keep our jobs and be.

[Nathaniel]

Yeah.

[Dave Ramsey]

Can you spell Covid?

[Nathaniel]

Yeah.

[Dave Ramsey]

You can't predict the future and you.

[Nathaniel]

Can'T out earn bad money habits for very long. Like that's there's going to be an end to that.

[Dave Ramsey]

So. No. I teach people to never borrow money on their business because I want their small business to thrive. I want farmers to thrive. I love farmers and I don't want them spending their whole life paying a dad gum combine payment because it's got GPS and air conditioning and that's necessary to roi in today's world. Bull crap. ROI is called return on investment and that includes factoring in risk. If you're a sophisticated business person, you factor in risk and you all are ignoring risk in this. So if you keep on this track, you're gonna go broke because you're acting. The track is there's no risk. I can just. I'll always make more than the tractor payment and I'll be okay. And that is a falsehood.

[Nathaniel]

That's what I'm saying, falsehood.

[Dave Ramsey]

It's going to bite you, bite you hard. So no, I don't think you did a smart thing. And no, I don't think you are doing smart things. Steve is in Richmond, Virginia. Hi, Steve, how are you?

[Jade Warshaw]

Hi. Thank you for taking my call.

[Dave Ramsey]

Sure. What's up?

[Jade Warshaw]

So I have a question about risk. So I am, I'm 64, I'm retired, I'm everyday millionaire. I have a piece of commercial real estate that was part of a business that I sold that I still own. It's a triple net lease. And I've got five years left on the lease and I'm just wondering when I should sell it. The, the kind of a wrinkle in the ointment is that I have. It's in a rural area and it's owned by a big corporation. They're having some trouble attracting people to move out to rural areas to work. So when the lease is up in five years, I'm not sure what's going to happen. And so, you know, I feel like I have a great deal at the moment. Things are going very well. I don't really want to own it if it's empty in five years. And I just don't, I don't know, help me out trying to frame this and understand the smart way to make this decision.

[Dave Ramsey]

Well, the property is going to be valued based on the lease. Commercial property. We place values on the commercial property based on the income it produces. And the lease has got a fuse burning that's five years long. And so if I'm buying this, I'm going to value it based on it being empty in five years. And that's better than if I'm buying it and it's going to be empty in two years and that's better than if I buy it and it's going to be empty in eight months. And. Or we are. It's empty. Oh, now we got a real deal. Right. Okay. So if, you know what I'm looking at if I'm you, is what's the probability they turn this around and they stay there? Is it 50, 50? Is it 90, 10? You know, that's kind of what you got to think about because you've got some actual insight into the situation. Thank God. Right. And so if you think they're it's 50, 50 or less that they're going to be there in five years. If I'm you, I'm selling that now.

[Jade Warshaw]

Okay.

[Dave Ramsey]

Because because you're gonna have a problem. Right. And the problem, the closer the fuse gets to the bomb, the, the less value the property has and the less marketability it has. Is that right?

[Jade Warshaw]

No, that's. That's exactly right. And, and I, and I have. Honestly, I get calls all the time from some various groups who mean it's got five years in the lease. They are very happy to buy these properties.

[Dave Ramsey]

Yeah, yeah, you probably got it. You probably got some REITs lining up to take it out. What's the value of.

[Jade Warshaw]

Was appraised a few years ago. 600,000.

[Dave Ramsey]

Okay. She probably get a million out of it. And you could probably do a 1031 and roll that into something that you think has a good, a better long term future than you think. This does that, you know. But if you think there's a 90% probability they're going to renew and stay and you want to hold it, then I would hold it. All we're doing here is looking at the probability risk like you said. You accurately said it when you opened up the call. Good question, Steve. You're. You're thinking correctly.

[Nathaniel]

Hey guys, what's up? It's Jade Warshaw. And look, if there's anybody who knows about student loan debt, it's me. My husband and I had $280,000 of it, but we were able to dig ourselves out. And you can too. If your student loan payment and interest rate are burying you, refinancing could be the solution. Now, I recommend contacting my friends at Laurel Road today through their online application. You can get an initial rate quote in less than five minutes. And if you have a more complex situation, you can schedule 30 minutes to talk to an actual human being. Thank goodness Laurel Road makes it simple. There are no fees involved and you could save thousands over the life of your loan. Remember, you should only refinance if it makes sense in your situation. So if you're looking for a low rate or a shorter term so that you can pay off these student loans fast, talk to my friends at Laurel Road about their competitive interest interest rates and how you could actually get a lower rate by signing up for autopay. Listen, nobody's coming to save you from your student loan debt. If you want it gone, you can't mess around. Go to LaurelRoad.com Ramsey to find out more about student loan refinancing. Again, that's LaurelRoad.com Ramsey. Hey, George Camel here. So you're thinking about buying or selling your home? It's exciting, but there's A lot to think about and all those decisions can feel overwhelming. Well, here's the good news. You don't have to tackle the process alone. Ramsey's real estate home base is the place to find all of your free tools and resources for help to get prepared to buy or sell your home with confidence. You'll find calculators, start to finish guides, a podcast, and even an in depth video course hosted by yours truly.

[Dave Ramsey]

What's not to love?

[Nathaniel]

So if you're ready to take the next steps toward your home goals, go to ramseysolutions.com realestate that's ramseysolutions.com/real estate.

[Dave Ramsey]

Jack is in Chicago. Hey Jack. Welcome to the Ramsey Show.

[Jade Warshaw]

How are you today, Dave?

[Dave Ramsey]

Better than I deserve. What's up?

[Jade Warshaw]

Yeah, looking for some advice here. Been in my job for about two years now and just really burning out. Not sure I should take time off and then go back to the job or should just completely quit. Figure out, you know, what truly makes me happy, if it's a different industry or a different job in general. You know, made around 157,000 last year. I'm 25 years old.

[Dave Ramsey]

What's the burnout?

[Jade Warshaw]

I think one just not really believe in the product and to being, you know, adhd. If I don't truly enjoy it, I have a time limit before I just, you know, hate it.

[Dave Ramsey]

So that's not burnout, it's just inability to stick with something.

[Jade Warshaw]

Yeah, could be that as well.

[Nathaniel]

If it's the ADHD related, how do you see that playing out long term? Will you just, and I'm, I'm not asking this to be facetious. I'm truly asking if you feel like it's related to that, how will that affect other jobs? Will you experience the same thing?

[Jade Warshaw]

Yeah, I mean, that's what I'm afraid of because, you know, you know, I've always thought about that since, you know, I had my IEP in fourth grade. Like, is this going to be like something that happens constantly or is it, you know, I just got to keep changing until I find what I truly like. So, you know, it's, it's something I think about every day. Maybe I'm just, you know, being a wuss and I should just muck it up and keep going or, you know, maybe taking time off to like figure out if it truly is that or if it's, you know, more of the burnout side.

[Nathaniel]

I mean, have you put it out.

[Dave Ramsey]

On paper, you're not burnout. Let's just establish that you need to quit using that phrase. Okay? You're not burnout. You're distracted. Maybe, and maybe you don't believe in the product, but neither one of those are burnout. Okay? Burnout is you've been working 80 hours a week and you hate everything in your life. The whole thing's toxic and none of that has come up. You just don't like the product and you have trouble staying on task for 40 straight hours a week. That's what you told me, right?

[Jade Warshaw]

Yeah. I mean, similar work probably, you know, 60, 60 hours a week just because it was a tougher job.

[Dave Ramsey]

Yeah, me too. 60 hours a week doesn't create burnout. Burnout comes when you're doing something you hate with people you hate.

[Nathaniel]

I feel like getting this on paper and kind of having a cat. I like things on paper where I can see it with my actual pen in my hand. And having the category that's like this is, these are the things that are going to be present with any job no matter what. I'm going to have to work 40 to 60 hours. I'm going to have to do things that I sometimes don't like. Right. You've got that category of things that are kind of non negotiables. They're there in any job no matter what. And then you've got the things that you know are related to adhd, which is, like you said, staying on task might be a little bit tough. And you've got that column and then you've got the column of things that really are specific to this specific job.

[Dave Ramsey]

Well, you don't. Let me tell you, the deal breaker in the whole conversation. You're right, is that, and that goes on this list of things is I don't believe in the problem product. You should not be doing something. You don't believe in the product long term. Yeah, it's not good for you. It's not good for you. It's not good for the customer. It's not good for them.

[Jade Warshaw]

Yeah, because for the first year and a half, like top performer, I like the product better than. But you know, I did, I had.

[Dave Ramsey]

Why don't you like that? Wait a minute. Why did you lose? Why did you fall out of love with the product?

[Jade Warshaw]

Yeah, well, so like the first year, year and a half, I was selling a different product and then I changed teams and now I'm on this team. I just like the reason why. I don't believe it or not, there isn't enough data out there to figure out, okay, is that truly working? Plus it's expensive and it's a big commitment. And so that's where my trouble is. Like, okay, you know, I haven't seen.

[Dave Ramsey]

So can you go back to the old product?

[Jade Warshaw]

No. I mean, you have to.

[Dave Ramsey]

Can't.

[Jade Warshaw]

Our company doesn't do that.

[Dave Ramsey]

Okay, then, then, So I, I would not tell you to keep selling a product regardless of how we start the conversation or in the conversation. I would not tell you to keep a job long term where you don't believe in it. Again, it's not good for you, it's not good for the company, it's not good for the customer. Nobody's winning here. So. And if somebody, if you work for me and you said, I don't believe in this thing, I tell you, go look for something, man. Go find something you love. Go find something you believe in. It doesn't invalidate the product just because you don't like it. It just. You don't want to do it. That's okay. You know, there's stuff that I think is valid out there that you know, but so if you're especially, especially in. You've got to really like it, the thing you're selling and you got to believe it's good for people because you feel like you're serving then rather than manipulating.

[Jade Warshaw]

Yeah, of course. Do you quickly. Yeah. Do you think it's wise to take some time off, travel for a couple months and then come back to it, or should I have my next role lined up?

[Dave Ramsey]

No, you need to go get something else and do something else.

[Jade Warshaw]

Okay.

[Dave Ramsey]

You know, I, you know, you don't get a gap year in the middle of your career.

[Jade Warshaw]

Yeah.

[Dave Ramsey]

It's not, it's not how. I mean, you can. But that's not, that's not normal. And so no, I would go, you know, and if you want to do some traveling, take your PTO time at the next place and go travel. And that's fine. But you know, you're, you're, you're not a 21 year old senior in college that just graduates taking a gap year. I'm gonna go hike Europe before I start my life. That's not where you are. You're like a grown man and Stu stuff. So. No, I'm.

[Nathaniel]

Unless he's got a bunch of money sitting somewhere we don't know about, I.

[Dave Ramsey]

Still wouldn't do it. I just keep moving and. Because he's looking for happiness in all the wrong places.

[Nathaniel]

Yeah.

[Dave Ramsey]

And the idea that I don't have to, if I'm not working, I'm Going to be happy. And that's bull. You know, you're working at the wrong thing. That's why you're not happy. It's not because you're working. Work is not evil. And work doesn't kill you and work doesn't burn you out. None of those are true things. But working at stuff you don't believe in will do all of that. So hey, hang on. We're going to give you a copy of Ken Coleman's book find the work you're wired to do. And it has in there a wonderful assessment that is really good for self to do some self analysis on. And what is it I want to do? And by the way, I will tell you this. The. Is he gone? I guess he's gone. Huh. Oh well, anyway, the, the best salesman I know, including me. Have a touch of add. Okay. Have a touch of. I can't stay on task because they like, they like moving from thing to thing to thing to thing to thing. And sales is a good, it's a good field for that. And you can make a ton of money and you can serve people and be proud of what you do and be tired sometimes but not be burnt out. And so that's what I would do.

[Nathaniel]

What are you laughing at?

[Dave Ramsey]

I'm gonna take a gap year.

[Nathaniel]

Hey, you never, you never know.

[Dave Ramsey]

Like I am truly a boomer. That's when I know it's just, it's over. I'm completely over there in the old guy column.

[Nathaniel]

I mean you didn't even consider it.

[Dave Ramsey]

No, I didn't even if. And, and no, no, I didn't. Matt. Matt's in St. Louis. Hey Matt, what's up? Hey Dave.

[Jade Warshaw]

Hey Jade. How are you guys?

[Nathaniel]

Great.

[Dave Ramsey]

How can we help?

[Jade Warshaw]

So basically I want to get your advice for my wife and I. So I'm self employed. She's been a stay at home mom for I don't know, 12 years probably at this point being a business owner we, we have not because we're business owners, but we did start retirement savings a little later in life. So collectively between the two of us and our Vanguard accounts, we have about $80,000.

[Dave Ramsey]

How old are you?

[Jade Warshaw]

43.

[Dave Ramsey]

What do you make?

[Jade Warshaw]

Well, my company pays me about 65. Top line revenues range anywhere because there is a seasonal component.

[Dave Ramsey]

You own the company? Yeah. So what is your, what is your, what is your taxable income, sir?

[Jade Warshaw]

For last year was 495. But typically where are you getting, where's.

[Dave Ramsey]

All the money going?

[Jade Warshaw]

Well, we're sitting on north of 500 in cash. And we have.

[Dave Ramsey]

You know. Why pay for home cars?

[Jade Warshaw]

Well, that's the thing. I don't like having all those soldiers sitting on the sidelines. I just don't really know what to do with it. We do max out our retirement accounts every year, but.

[Dave Ramsey]

Good.

[Jade Warshaw]

I don't know that's going to be enough.

[Dave Ramsey]

You haven't been doing that for long. No, we have not. Like two years?

[Jade Warshaw]

Yeah, approximately. So. Yeah. So it's been one of those. I don't know exactly what to do. I know enough to be dangerous. Right.

[Dave Ramsey]

You're making great money. Congratulations. I'm proud of you. What's. What kind of business is this?

[Jade Warshaw]

It's an automotive restoration. You know, detailing.

[Dave Ramsey]

Good for you. Well done. You're working your butt off, man. What's the top line?

[Jade Warshaw]

I am indeed. Last year we did 1.5.

[Dave Ramsey]

I'm proud of you. Good man. All right, so you're making a half million dollars a year, and you got a half million stashed. And you need to learn how to save it and invest it, Right?

[Jade Warshaw]

Correct.

[Dave Ramsey]

Good. Now you have a new task. So go to Ramsey Solutions.com and click on SmartVestor and sit down with one of the SmartVestor pros and let them teach you. Not do it for you, but teach you. And then the two of you together will make the decisions. And you're going to get those soldiers off the sidelines. And now you got a half million dollars moving towards your 80,000. And we're going to be millionaires pretty quick with our retirement plan. Big news, business owners. It's here. My brand new book, build a business you love is officially available to start reading now. Look, running a business is tough. Some days it feels like you're just duct taping the whole thing together. I get it. That's why I put 30 years of hard earned lessons into this book. To help you grow faster, make smarter decisions, and stop learning everything the hard way. Don't wing it. Get your [e-mail] store and start reading today. Our question of the day is brought to you by. Why refi? Why refi Refinances defaulted private student loans that other places won't touch. Helps you get your life back. Back. So kick the private student loan debt to the curb. Use y refi.com Ramsey. That's the letter y r e f y dot com. Ramsey might not be in all states.

[Nathaniel]

All right, today's question comes from Jenna in Nevada. She says, my husband is in the military. I am a stay at Home, Mom. And we're in our mid-30s. He really wants to purchase a cyber truck, which will cost about 80,000. We take home roughly 150,000 a year, and our net worth is just over 950,000. I drive a 2011 car, which run fines. Our. Which runs fine. Our only debt is 250,000 on a home, which is valued at 750,000. I hope you're tracking with me. We have 420,000 in investments, 50,000 in cash, and 20,000 of that is our emergency fund. I want to pay off the house before making luxury purchases. We'd save up to pay cash for this cyber truck and trade in his current truck, which is worth about 30. Okay. Is it unfair for me to be unsupportive of his dream and our current financial situation? All right, let's sum it up. That was a lot of numbers. A lot of numbers. So they want to buy the Cyber truck. It's 80,000. He could trade in his current truck, get 30 for that. Plus they have 30 available.

[Dave Ramsey]

They have 50 in cash.

[Nathaniel]

Yeah, but 20 of it is their emergency fund, so that gives them 30.

[Dave Ramsey]

So now they got to pull money out of an investment.

[Nathaniel]

So. Yeah, and I mean, Honestly, here's the thing. 950,000. Let's go ahead and round that up to a million. It could be there tomorrow, depending on what anybody in. In the offices do. So I would round that up to a million for this. I'm not going to be a pharisee on that. And then, yeah, if you want to talk about the. The.

[Dave Ramsey]

The.

[Nathaniel]

The rule of it being no more than half of your take home, you're right on the line there. I still think it would be fine, Dave, you can stop me, but I think it'd probably be fine to do it. You save up the other 20 if you want to. I. I would be fine with doing this. You save the other 20. I. I probably wouldn't sell off anything in order to do it. I'd probably just save it up right quick, and I think it'd be fine to do it. You guys just have to decide together, because in your mind, say, doing the house is the next thing. And in his mind, you guys have worked really hard, and now it's time to live a little. And I totally understand that. If I had to vote, I'd be on his side.

[Dave Ramsey]

Hmm. Well, we'd be voting against each other, would we? It's. Yeah, it fits with our guidelines for him to do this. Yeah, you're right about that. So I'll go with your vote on that and the guy. Because the guidelines are baby steps 4, 5 and 6 to be intentional, not intense. Pay cash for whatever you're doing. And he's doing all that. So in baby steps four, five and six, there are. You're putting 15% of your income away for retirement, you're putting kids college away, and you're paying extra on the house to have the house paid off. As baby step six during that time is when you would buy a new couch, a new car, go on a vacation and do some other things. And every one of those other things you do slows down the paying off of the house.

[Nathaniel]

That's correct.

[Dave Ramsey]

And so the only thing that bothers me about this is the brand new factor. Well, no, they only got a million dollars, so they're net worth a million dollars. I'm with you on that.

[Nathaniel]

I mean, yeah, but I always like to save money. So for me, I'd still maybe look for something used. But it's not technically wrong if you did.

[Dave Ramsey]

Yeah, it's hard to relate to the cybertruck thing anyway. But the, but the, yeah. So the thing I'm thinking about is, okay, if I'm the guy sitting here and I'm looking at my wife and we have a mortgage, 250am I going to buy me for you?

[Nathaniel]

Yeah.

[Dave Ramsey]

A truck. My dream. Which sounds like a little boy talk, not man talk while my house is still sitting there with a mortgage. So I'm, I, I. You know, when Sharon and I were doing this, we would have bought something nice.

[Nathaniel]

Maybe not that nice.

[Dave Ramsey]

Probably wouldn't have pushed the edge of everything and played the dream card.

[Nathaniel]

I see, so you're.

[Dave Ramsey]

She played the dream card and that pissed me off.

[Nathaniel]

I hear you.

[Dave Ramsey]

I don't like it. I don't like him playing the dream card on his wife. Am I wrong? Because she feels like she's the only grown up in the thing now. Because the little boy wants a cybertruck and mommy won't let him have it. And that's the way this is framed.

[Nathaniel]

And you know what, Dave? I'm gonna give you a with. Not that you need a check on your side, but I am putting a check on your side of the board. Because they're in their mid-30s, so it's not like they've been at this for 30 years and finally he's getting his.

[Dave Ramsey]

Thing like, yeah, I'm fine calling it a draw because you, you legally can do it under our guidelines. So that's a draw, right? Okay.

[Nathaniel]

Yes.

[Dave Ramsey]

According to Our guidelines. You are meeting the. Everything we teach, okay. In baby steps 4, 5, and 6, and being intentional. But then I have to put my shoes on and go, okay, if I'm in your shoes, what would I do? Which is how I am.

[Nathaniel]

You have to agree about it.

[Dave Ramsey]

Number one, you got to agree about it. And I don't want. It's not fair for him to put you in a position that you're being unsupportive of his dreams. If your dream is a cybertruck, you need a better dream, a bigger dream. Seriously, also. Okay, so that's. I mean, really. I mean, if your dream is a car of any kind, and. And you play this emotional card with your wife.

[Nathaniel]

Yeah. Yeah.

[Dave Ramsey]

You need a different dream. My dream is, you know, extreme wealth, extreme generosity.

[Nathaniel]

It should include both of them.

[Dave Ramsey]

And, you know, that's my dream. And that. And somewhere in the. In the byproduct is some great cars. We'll get some cars. I got a nice car. I'm not against that. Now, my truck costs more than this one, so it's. Okay.

[Nathaniel]

Dave, be honest. If we were talking about anything but a cyber truck, would you change your mind?

[Dave Ramsey]

You probably. You probably got me there. You probably probably affected my answer. But I. I just. What I'm always looking for is the language that we're using with each other.

[Nathaniel]

Yeah.

[Dave Ramsey]

And I don't like where she's sitting. Is it unfair of me to be unsupportive of his dream?

[Nathaniel]

It's a little manipulative.

[Dave Ramsey]

A little manipulative on his part.

[Nathaniel]

Yeah.

[Dave Ramsey]

And, you know, she's like. You know, it's like, I love it in the Christian world, and somebody plays the God card. Well, God told me, well, I can't argue with you now. God told you. You know, it's like. But God told you something that's not consistent with scripture. So that wasn't God. It's last night's pizza. You oughta go back and check that it wasn't the Holy Spirit. It might have been a spirit, but, you know, that kind of stuff, they start playing the God card. It's the same thing, Right. It's this thing. So God told me, well, I'm done then. You can't argue with that. So. Because it's God. But if it is. Yeah. So that's the trick. So that's always Jenna. That's the bigger problem than the cybertruck. If you both said, okay, we like doing this. We both want to buy this, and it wasn't couched in the thing. Of it's my dream. Or I'm the unsupportive wife. I'm the nag. And he's the hero who's in the military and I should let him have whatever he wants. Let's not go there. Let's say together we sat down and we both agreed that this is an okay purchase in our situation. Do you guys think it's okay then we would go. Yeah, it's okay.

[Nathaniel]

Yes. I'm with that. Okay. Yeah.

[Dave Ramsey]

So. Yeah. And it's okay. It's not what I would do, but it's okay.

[Nathaniel]

Yes.

[Dave Ramsey]

What I would do is I'd pay down the house.

[Nathaniel]

I think I would too.

[Dave Ramsey]

Or I would want that house paid off, man. Because I gotta tell you, once you got your house paid off, you walk different, man. It's a. Everything looks different. Different. You got. You, you're. You got a little swagger you didn't have before. And you know you don't have. You got a paid for house. It's worth a million dollar or 750 grand here said. Right. That's a.

[Nathaniel]

And his current truck sounds. Seems like it's all right if it's still worth 30,000.

[Dave Ramsey]

Yeah. I mean, they're okay. It's not. It really wasn't that. But it's just. It's a good discussion.

[Nathaniel]

It is.

[Dave Ramsey]

Because one of the things you want to look for is. And I look for it. We look forward to here on the air. But you need to look for it with each other. Yeah, I do. The. You know, am I manipulating Sharon to get her to do something? You know, am I. Am I playing that card? Or is she trying to manipulate me?

[Nathaniel]

Right.

[Dave Ramsey]

Giving me the eye roll or something. Right. You know, that kind of thing. And so how is this going on? Because this matters more than the actual decision because it's the framework in which you make all of your decisions.

[Nathaniel]

That's right. And everybody's got to feel good about it. It's your money. So you both have to feel good about the decisions you're making with your money.

[Dave Ramsey]

Your.

[Nathaniel]

You know what I'm saying?

[Dave Ramsey]

When you guys can get aligned on something in both of you are at least moderately excited about the direction then you. That's way more important than the actual direction.

[Nathaniel]

That's right. That's right.

[Dave Ramsey]

Because you will go get. You go get it then. And these couples that stand on this stage and do the debt free screams. The unit. The unity of direction that they all have is pretty incredible. And so. But I had a similar discussion. Sharon was driving One of those nasty old two tone blue Astro vans. You remember those things?

[Nathaniel]

Yes.

[Dave Ramsey]

And the kid, you know, it was like, had 900 million miles on it.

[Nathaniel]

She's like.

[Dave Ramsey]

I'm like, I got 20,000 bucks. I need to do some stuff at the office. And she's like, no, I need a car. And you know what we figured out? We did both. But we did her car first. We moved her up into a Suburban, and she needed it. Yeah, she was right. So it's okay. You just talk it through. Right.

[Nathaniel]

Hey, what are you still doing here?

[Dave Ramsey]

You know the rest of the show's.

[Nathaniel]

Happening on the Ramsey Network app, right? So you got to jump over there to continue watching. You can download it for free. Just go to your app store, type in Ramsey Network. It's completely free, and I'll drop a link in the show notes to make it easy for you. So if you're watching on the app, you're in luck. But if you're watching anywhere else, this show is over for you. So jump onto the app and let the fun continue. All right, Go on now. Don't make it weird. Okay, I got nowhere to go, so you need to go.

[Dave Ramsey]

Okay, bye.

[Nathaniel]

Bye now.

[Dave Ramsey]

All right, this is. It's getting weird over there, guys.

[Jade Warshaw]

What do we do?