Don’t Look for a Hack When You Need a Grind
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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. Day, ramsey, your host racial crest SE number one, best selling author many times over rams y personality and host to the racial cruise.

P, my daughter is my co host today. Open phones. Here are a triple, eight, eight, two, five, five, two, two, five.

You call with your questions about your life. That's what we're here for. The call is free.

And some say the advice is worth exactly what you pay for. So we're glad you're hear Rachel big day to day. Another book launch. The third Rachel crews kids book is out.

I know i'm .

so excited, so i'm glad when I can share. So this is the kids book on generosity. And I went with the sharing element, as far little ones, teaching them to open their hand and shares kind of that first step into eros ity.

But IT concludes my series. I did one on contentments gratitude. And this is the final one for generosity. So this is the three kids book series in the first win is out today.

and theyve all been best sellers. I'm glad for what I have. I'm glad for where I am. That's contentment.

I like for where i'm gratitude.

gratitude. And the first ones, contentment. And then this one is generosity i'm glad went for when I can share.

And it's a three book series, and this was the third third. So it's nineteen ninety nine at rams y solutions outcome in the bookstore. And again, Lawrence just continued to these world class, are illustrations make the book? Yes.

iago's is the illustrator for all of them and SHE just I mean did a fabulous job. So yeah, it's it's a really sweet book and it's short.

You're welcoming for those of that time stories. There are nine years long. Yes, don't have that here.

And and on each of these books I always try to add an element for the adults at the end so just A A sweet reminder, right when in comes to contentment there's that uh and in this one for gratitude that the joy in life really is the gift that got has given us from our brothers and their sisters and you know, all of that too. Understanding that when we give IT is enjoy, unlike anything else that money can buy.

it's the most fun you'll ever have with money. We had Jimmy darts on yesterday who's got the big youtube channel, yes, giving money away. And we were talking about the of generosity, and we teach you guys, as you know, to live like no one else, so that later you can live and give like no one else, and long and even snugged that under the license of one of the .

cars in there.

So you have to look for .

the hidden the hidden meaning whereas well to yeah .

so there IT is live like no one else on the license plate probably need to get one of those for one of our cars for real pretty cool and never thought of that because but nobody knows what that .

means unless they know .

what that means. Yes, it's but yeah anyway good stuff. So i'm glad when I can share. It's here. It's on sale.

Oh just in time for Christmas and it's one thousand nine ninety nine at ramsey solutions not come in the store. And of course, you can order anywhere. You can order to great books as well.

The other two books in the series are only seventy and ninety nine. So you can pick up all three of them for what? Fifty box, roughly and a little over fifty dollars. And you'd have a wonderful little set for the grandbabies or for the babies. What I is, good stuff.

And a speaking as the grandfather who has a few grandchildren that might be accused of picking out the longest possible, some of those doctors whose books go on for days, and they have a way to find. This is the one I want to read, property translation. I want to stall bedtime as far as I can, and so doesn't work with any of the three of these. Least three all get to the point.

and you go to bed. Yeah, they are pretty fast and they rime. They're very sweet. Great message, but we have, we get to the point. So your welcome parent .

for that a good stuff arena is whether in dallas as texas. Hi leena. Welcome to the ramsey show.

Hey guys.

how are all Better than way? What's up your world?

Good, good. I just have a couple of questions later off with that. I feel like I cannot know that of my parents house. And due to financial struggles that they that they are having and i'm also having as well.

okay. So what causes you not to be able to move out because of their financial struggles?

Walk me through that. I need, I need your rent basically.

Yes, sir. And so um so I think I moved back in and am trying to get rid of my dad and start a from in the baby step.

But you pay them around. No.

I do not.

Oh when how would IT affect them negatively if you left?

So um they're right now there in a rental property and um this city is actually planning on moving the area that .

they are in live in.

correct.

How would that affect them negatively if you left?

Because I don't think they could you know, I don't they could move into a new house .

without you're not .

paying the many round .

that there's no .

net loss to them when you leave. It's a net gain.

Yes, that, that is true because whatever they do have to move eventually the rent, that their pain will be a all right now.

And then you you would start paying around, correct, to help them do that OK correct. Bad solution?

yes. So that's why I feel kind of stuck.

And I think if you got you, arby is got to reset their expectations in this. They're in an unrealistically low rental rate on a house of being demolished, correct? So they cannot rent the same house three streets over. They can't afford IT, correct? So they need to move to a different area.

Yes, sir, so that I just feel stuck, I thought are .

looking at they need to move to an area they can afford to if they're like grown ups and stuff yeah maybe .

that I mean but but in a family dynamic, I mean, I think this is calling up the the disfunction in that that they are leaning on you to help them in their situation well .

or somebody made you feel, I don't know what you took IT on .

yourself if they did. Yes, that's what I would say to you is, is you have to be able to release that yourself because that is not you're responsibility even though the dynamic may feel like IT is. And there's always a weird element with adult kids when their parents are in trouble to feel like they've helped me.

They raised me. They gave me a roof over my head growing up, so I in turn feel obligated indebted to help them. Is that true? yes.

Now that's exactly what happened. I had to recently move back five months ago and since let me a pay and you rent. Fathi sl, obligated to help because .

they gave you that gift, correct? right? Well, and and that's a false obligation.

is a deal OK. The deal wasn't you move back in. And so you're indeed to us for the rest .

of your life.

I wasn't the deal you move back and opposing rent, get self straight ed up as a if we can give you right now, we can't continue giving you that give because they're making us move to demolish the house. And so now we've gotten move to an area that that not even we wanted do because we can't afford to live here anymore.

right? correct. We're in a hold, are you?

I'm twenty six. Okay, yeah, yeah. I just want to give you that permission to have that freedom to build your own life.

And what it's gna force you to do as well is to say, oh, crap. I don't have moment. That is a safety net anymore because it's good for them and not only is good for me.

So i'm going to have to make hard decisions as well, and it's a tough spot. And i'm sorry, i'm sorry, it's all coming to ahead because of the situation. But I would look at IT as a gift in that way.

And it's five years from now, when you guys are all emotionally and financially sustained without leaning on each other, you're going to be Better people and Better for each other. This is the rami show.

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Cruise rami personality is my co host today. Open phones at triple ate eight, two, five, five, two, two, five. Jennifer is with us. And phoenix eros ona, hi Jennifer. How are you?

Hi, I am. Well, thanks.

Call 是 我在。

I wanted to see what you would do with a power money. I'm in i'm in baby steps three b four but then I found myself in storm number one surprise i'm pregnant and .

ah with congratulations .

thank you. Storm number two, five weeks later I suffered a major medical event, found out I have an underlying condition that will put me at risk for more major medical events and we can't really address the problem for a year too until baby gets here and we can do a lot of have been in investigated. So I had been saving a bunch of money for a house, but um IT had been sitting in a high yield savings account.

But those ways are declining. So would you guys leave IT in high yield savings? Or would you move IT into like a broken age account to maximized? Because I feel like that goal is now three to five years down the road.

How much money in emergency? How much money in this fund were talking about?

My emergency find is fifty thousand, is twelve .

months. And this money, this money, is how much that .

my house fund is currently at, one hundred and fifty thousand.

Okay, see, have two hundred thousand dollars. So this medical procedure, what's the financial date the dish might make?

That's a million dollar question, the literally a million doll question. I don't know what you have.

Health mission?

Yes， I do OK and I have very good health insurance, but i'm also out of work and currently unable protectively because of everything going on to all of that. What do you change? I'd make one hundred and forty a year.

What's your husband, mate?

Um I don't have one of those.

okay. Um and so you unprotected, you're not making any money. You don't have an income right now.

Um that is not a true statement. I had a bunch of sick time and vacation time, thought you unprotected to leave.

I thought you met your own family. Leave back with no pay OK. So again, what you've got .

to ascertain.

not from a fear base, but just some actual analysis, is this a fifty thousand dollar problem you're facing or two hundred thousand dollars out of pocket with your health insurance, with your potential loss of income that i'll be unpaid when you run out of these other things? And I can't think you've got a lot .

of saving share.

So I shouldn't tell you about my broken age fund .

or my thinking fund. You you are savings maniaci love IT. How much is in the brokers account and how much is in the sinking fund?

The broken age fund is eighty thousand, and the thinking funded thirty thousand.

What's IT .

thinking for a car vacation travel?

嗯， okay, right. So now we have three hundred and ten thousand dollars to weather this. thank. You're okay. Breathe right.

Well, I think that, I think that the scary thing delivers. You don't have a lot of answers and you won't have a lot of answers. So after the baby becomes correct, absolutely with the health situation.

So I I am no, there's no panic to do anything with this money. I would just keep everything we would tell you to pause everything anyway and you are pregnant, there's nothing else to like majority do and I would wait. So baby, comes your good run some test. And if you're in the same position in eighteen months financially, you're OK and then you can make some big you have decisions, but I think you can take a portion of this and put IT in a broker account. Would you tell me to go get a house right now?

This is kind of milk, and I just you could throw IT in a high yld savings IT doesn't matter what you do with this money for eighteen months, but you weren't gona put this broken age account down as the downpayment on your house. Where are you? No, that was he. Come on. Was a retirement fun.

It's not a retirement fund.

It's a broken age account .

where I worked previously. They didn't offer.

How much do you have in your four or one .

k super saver five?

Okay.

come on.

K, you need to put win, win, this is over, and you take your three b hundred and fifty. K, add the broken age account to IT for your down payment on the house. I want to put two thirty down on the house when this is over right now.

Don't want to do anything. I just want you to lean into the security that you built for yourself. You are a master saver.

You are amazing saver. But you you're taking IT too far. But for today, it's okay. That is too far until you get past the storm. So when you get passes to storm the storm though um by the house you by the house and put all this money towards the thinking house seriously after .

the the realization of the medical expenses and the last what's life out of the .

broken account, out of one hundred and fifty but twelve months emergency fun, no stop that you know plus broker account just because I didn't have a retirement before, but I have made and over here you're in good. You're fine. You're be so rich's unbelieved you can't keep from save and money. You're amazing just .

going to be resting in the piece of what you've created yeah I mean, that's IT. So this look so lower the stress. Enjoy this pregNancy.

breathe. Just like David saying, like, you're good, you are good. Don't make big movies right now. Have the baby, but between now and baby like you, you are secure and great.

Let's get the medical thing in your review, mr, and then much get the saving stream back down the world should be. And that's that's what I would do if I woke up in your shoes. Zack is in charlton south. KarOlina, hi zack, you i'm .

going alright. Thank you for taking my goal 是 我操。 So basically I was in a car accident a not two long ago and the guy told my car um and the settlement check um is about six thousand and I still have forty two hundred or forty five hundred left over on the car so I was wondering if I should pay off the car and then basically just wait till I can get another car or get another car and then like slowly chip after the debt you can't they're not going to give .

you the check unless you give them the title for the total car and you're not going to get the title for the total car and let you pay the loan off. That's a lean on the car.

They already they already give the title. They me there, they need to check today.

So I bet it's net of the payoff ff. They publish on the payoff the bank.

Oh, OK.

because you've got a lean on the .

car title yeah.

unless you did something that was not a lean on the car title. But either way, let's pretend that that that i'm wrong on this for some reason under south korean a law. And I missing something. Then when you get to check, pay off the death.

okay?

And then you've got like a thousand box laugh, whatever IT is fifteen hundred box left to go by a beetle car.

Yeah, okay. And that's .

what I would do .

if I woke up. You have any money saved? Zac, actually.

somewhere 南北 女的。 OK.

no, you're great. Yeah, yeah. Yet the goal would be to get to to buy A A con cash. And let me chAllenge these acts. We're a nash fill, and on sunday, for whatever reason, maybe because of a new york Lance, that and the lord through to my art. But I was, I literally googled five thousand dollar cars in nation. Because I like, because, because we get this car call a lot and people I can't get a five thousand nine and I look out and I my oh my, I am. You just can score and score and they're not terrible looking cars. I mean, they may be like ten years old or something, but i'm just saying you have fifteen thousand dollars, I would save up another two thousand and you and you can get you get to twenty five hundred hundred, fifty hundred and so that's 4 hundred， but you can get a three thousand dollar car yes and and here's here's a icp here.

The what was your old car payment?

Carp was like four hundred.

Okay, so I would say five hundred dollars a month after obama beter car, so that I can move up in car in six months because I don't want to have this piece of crap for very long, right? Okay, yeah, five hundred box for six months, another three thousand dollars, and five hundred box for another six months in another three thousand dollars. This is how you get rich.

You don't pay people card payments. You buy things with cash and don't have payments. That's the goal and that you're new to this stuff.

That's that's the bottom of what we teach. Rather proud of you. Thanks for asking the question. This is a rami show.

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There's all good stuff. And you can ask questions on the rambling network. APP. This one is from top.

yes. Todd asks, should I consider converting my employer match each year in my forec to rough dollars and pay the taxes? Now I am thirty one years old and wondering if converting the match each year will benefit our financial future and retirement.

Yes, yes, yes. You want to do IT and pay the taxes, of course, out of your pocket when you do that. Had especially taught if you're out of debt, if if it's going to be a large amount of money out of your pocket because of this, you may not want to do IT for a while, should let IT build up and you go back and do IT all at once.

You can do IT anytime you want. You'd let let IT build up for four, five years and then do IT all at once at that time. I do mine every year because my company that I own is required to match my a cosine employee of the company I own, which is weird.

But I get a four one k with the company match and the match is required to be in traditional I roll IT to rough at this time a year every year and that create that amount money to be taxed on. But then I never taxed on the growth after that um nor are my ears because inherited a rough. I is not anywhere near the problem that inherited a taxable traditional array is.

And so what even helps late or on with your state planning because I don't have a single thing right now in my name or my wife's name that's not rough. I have rolled everything to raw and paid all the taxes and its all have no required minimum distributions either. It's seventy two and half when other people will so that that's an interesting part of equation.

But yeah yes, definitely are. Especially if IT doesn't affect you, get out of that plan. I was taking money out your pocket that you need you to pay off your car. Now let's wait a year to and do IT later.

Do you do IT all?

And once you can do IT every year at one time, the match for that year, you can do IT.

And now. But if you had a full one in converting a lump sum, could you divide the lump some into half and just convert half of the half of IT?

I take IT a time hundred thousand dollars in, but you didn't want all the taxes in more year. You could do fifty thousand and the next year to fifty thousand if you want to do that. And so you could let to build up if you're still getting out of debt and then go back and fix IT later.

You're only thirty one. So if you defeated at thirty six, still gonna all the benefits of a growing tax free four years and years and years and years and years guesses in boston. Hey, guys, how are you?

Hey, day, i'm good.

Carry you Better than I deserve. What's up?

So I was working on a well paying job hundred thousand a year, uh, and I got laid off. I've been looking for work, something similar, something paying about the same for the past few months. But no luck.

I haven't gone any interviews at all. I believe that it's just the current market conditions has been lots. This is in the the biotechnology sector, by the way. Um and so right now i'm debating going back and getting a masters degree because I think that would make me more qualified, more likely land one of these high paying jobs again.

However, I think that I would need to either cash out a broker account that i've been saving for a house eventually um or take on debt to pay for this now I have no debt otherwise not even a credit card. Um i've been listening you for years and so I guess i'm really nervous at the idea of either cashing out this broker account, which are making games on um or taking out debt to get another degree. But are you married in? No, i'm not OK.

What have you have been living on while you're been laid off for six .

month or three month? So I I have an emergency fund fully funded months, but also been collecting unemployment.

Okay, you're living on the unemployment .

because .

you're not touch emergency. I can tell about talk to you.

yes.

yeah, okay. How much longer is that around .

the unemployment will go through the end of february, and then I will have six months on the emergency fund. But as you know, I don't want to touch that unless it's true because what's .

the line of thinking that this degree is the thing that i'll get you in the job if you have had interviews anyways? Is is IT on the applications that what you're seeing you're like I need that advance to agree for sure? Or is this just say it's onna look Better in general and you think that's gonna you?

So um previously, my title was senior research associate, and I got that with a year and a half experience and a vassili's degree. Now i'm seeing for the same titles largely same responsibility ie s all of the postings are saying bacheller or masters. And then I got a free trial linked in premium and explain me that there is six plus applicants, all with masters degrees, who are these same jobs with the same title. So i'm concerned that because a lot of biotech went bankrupt year, the markets been flooded with .

high quality .

applicants. So what did what was your day job? What did he look like? What did you do as a research researcher?

Um so IT was a Operating automated liquid hand link systems you know like pie petty um working in a lab lab code of those gloves the whole deal um and specifically it's a next generation sequence thing. So it's all sort of furthering research objectives of these large pharma .

actual companies.

Got that day. Yeah I did yeah i'm just trying to what i'm looking for and and the reason I paused is what what i'm looking for is what that is how that is applicable .

beyond just the narrowness .

of this field else because um the other thing is, is that we're starting to see some early signs of the economy getting a jump start. And so by first quarter next year, I think the job market may look considerably different than IT looks today. That's an pint from your perspective.

What I don't know is the world that you're in and what the lab coat, goggles and the button burner, how that applies to other industries other than the specific one you were in. I'm not sure that are measure to agree, get you a job a safe, for instance, that thirty percent of the players in that nuance area are now out of business. A master's degree doesn't necessarily get you in the door on the remaining seventy percent because the job market sharks. So dad, gun much that what does get you in the doors? I can commons proximately principal, you know somebody that knows somebody there that that will at least give you a look and you're one and a half years of experience actually doing the sequencing and actually doing the research is far superior if i'm the employer to uh, someone that got a sheep skin, got a masters degree.

Yeah so it's a now that three years experience .

O O three years experience as far superior to a measures degree. I don't want someone that was taught to do IT by a college professor. I love someone who's actually done IT like for three freaking years.

I think you're a experiences superior to their masters degrees, what i'm saying, but you haven't just gotten your foot in the right doors to where someone will actually talk to you and will respect that three years. But within that nuance to world, the number of people walking around with a masters degree and three years experience is fairly low. You might have a bunch of kids to coming out of school with the masters and no experience.

And I think you ve got them beat. I think you're holding a straight flush here. So um yeah I I i'm gone to work in common system and i'm going to work some other jobs and i'm going to start expanding my idea.

Maybe I don't want to be doing this three years from now, five years from now. Maybe I want to apply these skill sets are in some other areas of a uh research in the lab, but not necessarily the nuances area. I want to broaden the the the scope of my search and um how applicable are these skills in other labs and in other situations um even petroleum or something way off the great.

I mean where is IT that there's a lab? I don't know, and i'm going to try to get in those labs because lab experiences, lab experiences. I understand this patrolling will be difference than gene sequences get that.

But but, but I still you would know more about going into any lab of any kind than I would cause i've never been in one as an employee so that, you know, I think you've got some Brown number one, number two, one minutes you can comments book the proximity principle. And I want you to use that to get in touch with people that you know, that no people that know, people that gets your resume looked at because I think you ve got a trump card here. This is the rampy. Show i've been doing this show for over thirty years, and some of the sad calls I have taken are from situations that are completely preventable. Yes.

so hard as I feel like one of those, especially the ones that i'm like it's terrible air people that call in and their spouse has passed away suddenly and they don't have life insurance when you have to think through how I going to pay my bills in the midday .

yeah in the middle of all that grief .

like it's just IT is it's terrible to life insurance is the one thing, especially as a mom with three little kids like so big on for people to give because it's inexpensive. Thunder is the place that once and I actually get all of our life insurance.

And IT doesn't because ander shops among a gazillion an different companies, IT does not cause much. You just have to admit that someday you're not gonna be here. You got to say that out loud and you got to say i'm going to say I love you to my family by taking care of them and taking the time to put the stuff in place.

The costa stinking pizza to get a free to call, eight hundred, three, five, six, forty two, eighty two. That's eight hundred three, five, six, four to eight two are go to a sander dot com. I'm drama your host.

Thank you for joining as amErica retro cruise. Ramsey personality is my cohosh number one best in author, and the new book is out. The new children's book came out today. That means a set of three is now available.

I'm glad when I can say.

can share that IT is teaching kids generosity, the last of the three, so contentment, gratitude and generosity, or the messages of the three books. This is the third in the trio logy in the final book. They're all available at rams I solutions not come starting today. Great Christmas presence lisa is with us in our lisa rather in Jackson veil, florida. Hi elisa, how are you?

Hi day. Hi Rachel.

How are you guys right? How can we help?

So um others wondering how much a Mandatory should decrease before its worth refinancing.

Well, that's the weird question. Is how long are you going to are you going to break even on the savings before you get rid of the mortgage? Is the way you look at IT. So here you do the math OK. What is your current loan baLances?

okay.

And so if you save one percent a year, you save twenty five hundred dollars. If you save two percent a year, you say five thousand dollars. Does that sound right? yeah.

okay. So if you're closing cost, if you're saving if your closing causes, uh, ten thousand dollars to refinance, I just make up a number. okay.

Then how quick do you get your closing costs back with the rate that with the savings that you have from a lower interest rate? And so if you're saving two percent, in your case, you're saving about five thousand dollars a year, you would recoup a ten thousand dollar closing costs in two years and everything after two years, you're going to make money. That's gravy e on the biscuit.

After two years, you see how did that? yes. So you divide the actual dollars saved with a lower interest right into the closing costs.

And that gives you the break even point. And that should be less than three years. Typically, people say two years, you need to break even on the closing cost in about two years.

So a lot of times IT takes. I wanted to have to have two percent savings for IT to make sense. The average .

mortality average.

when is the ten years .

come up until twenty, thirty, thirty?

okay. So you get all time to ride the market and again, when the market is a what you turn interest.

right? okay.

And um so you know you're not gonna get a two percent savings right now and .

you probably i'm going going .

to one percent savings today. You might but depend on how you structure on whatever, but that doesn't account points. We are not paying points to create a false thing.

But the bottom line is the interest the refinance saves you money on interest, and that gives you the money to pay back the closing costs. And you need for those closing costs to be paid back in two to three years for IT to make sense. And that that are you run the actual calculation on IT. And um you'll have that happened long before your adjustable right kick into twenty thirty three. I going say .

that many years. Who knows what the interest rates they are not going to look like.

So who knows? I mean, but the average margin folks out there across the span of my forty years of being round real stay in the business, the average mortgage days on the books only five and a half years, either due to refinance or sale of the property. And so you don't you really don't keep a thirty year mortgage thirty years in reality.

So very often, I mean, a few people who have been talking about the average. And so you certainly don't want something where the break even on your refinances ten years in a world where the average more just gone involve a half. So that's bad.

Uh, of course, also, you would include that if i'm paying aggressively on the mortgage, how quickly would I be paid off and I going to have a paid off before I break even? That's everything you would have to look at. So but we're just you you're trying to look at the actual dollars saved as a result of the lower interest rate versus the actual dollars in closing costs.

And that gives you a break even analysis from an accounting perspective, and that will help you make the decision very, very quickly. The good news is, Rachel, that that's now a thing again um that you know rates of soft and a little bit, they're not up there are there are way up. There are way down. But there's a lot of optimism out there and a lot of people started to look at this. And four months ago, no one was even talking about that are just frozen, right, the headlights.

And it's just fascinating the way real set shakes out. We are even talking on one of my shoots, the racal crucial shoot yesterday that you know, in twenty, twenty one, twenty, twenty two people are afraid that was a bubble and everything was going to pop in the, in the because of how quickly Prices rose and increased. And now they've just stay there, which is made the market tough, right to get in.

What you had to have in two thousand and seventeen looks so much different than what you have to have today. So IT is difficult. But if you go to RAM these lures, that comes such real estate.

That's kind of our related home base, if you will. We so much information because we know this is a big topic for people. So this is everything from talking about agents to your first time humming or if you're looking to move what the markets doing, there's articles, podcasts, ers so much there are. So if you have interest on real estate and more, what raim guess to say you go to RAM solution stock comes such real estate and check IT out check .

IT out there Matthews and omaha. Hi Matthew.

Welcome to the RAM c show. Um so i'm looking to um basically minimize the taxes, my parents pain in retirement on the um I R S that they are taking distributions out of. Um that's basically my question.

Can't can't now require minimal .

distributions are taxable. You can get out of well.

So we're not in required a minimum distribution yet. So my god, sixty six, and my mom.

sixty one, why are they growing on IT?

Are they growing on IT?

Why are they drawing on IT? They need the money.

Um I mean they're drawing on IT basically for um you know just like they want a deck so they want to put a deck on a the back of the house, they thinking about drawing on their retirement fun。 There's still making about one hundred and forty years plus around twenty thousand dividend. Um so and they also get a uh they got five real set properties about we're making about six thousand point.

so two hundred thousand your income, they figure about deck .

yeah so that they're trying to put about a eighty thousand other deck on the on the house, the residential house and .

i'm sorry, nice deck. H yeah.

IT will be a very nice deck, can have a covering in the IT will be pretty nice. So but yeah so they're are they're looking to do that. But um they were talking about playing one hundred thousand dollars out hundred thousand dollars out on the house.

how much they .

have an retirement in their portal. O they have about two point two million and a of IT makes about a million dollars residential house.

I think theyve got to figure out. I don't think they need you or me. I think they've got the money.

And when you pull money out of a traditional, you two hundred dollars and pull money can be taxable. There's not a hack on that man. There's no hack. It's just taxable period. That's the problem with the traditional instead of the rough a is why we want to move as many people to orge roth as we can because when they get up here, if I was in a rough and be a no brain.

no time, any time, to pull money out of retirement. If you're still working, you're at retirement age. You can do IT without penalty. Or every time you say, yes, I use your retirement for that.

they can do IT without penalty, and they can pull the underground out of there two point two and they afford IT. But you want to pay taxes on x to not it's just taxable period. And there's not there's not offset on there's an offset, you know um right interesting.

So I am probably .

personally not going to do that if i'm in their situation, i'm going to budget for the deck they afford IT. It's not gonna tell them it's not corrupting, but they don't want to pay the taxes on. This is an alchemy.

I hate taxes. I don't pay the taxes on IT either. It's an alchemy.

So i'm going to find another way out of sixty thousand hundred and forty to get the rest of this paid. So simple, that's going to be my plan. So I puts us hour of the ramsey show in the books.

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live from the .

headquarters of ramsey solutions. It's the ramsey show. What we help people build wealth, do work that they know, and create actual amazing relationships. Racial cruise ramzy personality is my cohoes today, my daughter and number one best selling author.

And the new book, new children's book, i'm glad when I can share, is out to dates, so be sure you check that out at remi solutions doc M, M as the third of the children's books, the three o that trilogy makes a great Christmas present, so be sure and check that out. I am day ramsey, your host dawn is whether and done is in a alaska. Hi don. How are you?

How are you Better .

than I deserve? What's up?

H, I have a gold dredging Operation and part of um and I can expect to gain just about twenty four to thirty five sounders of gold this upcoming season um and that is the Operation is paid solely in the middle that we collect uh and no cash uh or uh payroll is a given uh and I kind of curious on what would be this way of, uh selling that gold or capitalizing on that gold because with the current gold Price, that would be right around from the very worst that we could do um on averages speaking, I could get around about fifty years old, a thousand years of the current gold Price .

so that you pay for a year.

uh not for a year. It's three months Operation o so in a january to um apple.

but it's your pay for for your for your job .

for the hours ago. Yes it's more of the um uh kind of a partnership than that.

Is the a job necessarily OK? So your cut yeah and it's fifty and it's fifty great. Well you may know more about actually liquidating the um the old gold and I would know but what I would do was liquidated.

I'm going to turn this into money OK. I'm not i'm not holding IT as an investment. I'm not turned into money and use that money to to achieve my particular financial goals, which around here we would call baby steps.

You then I already have a the twenty five thousand and in a uh for uh what emergence one sorry, good.

Now she's kind of curious you would .

be I I am that for you right now.

you on your house for unclear I don't have a house.

I currently live in play housing with my current employer, I in the r um and I would like to get eventually get to the point where I have a um a duplex or dry boxes, some something of that nature um but can't gold Prices are earth live burberry Prices where I A call home is a little bit more than i'd be able save up for now my opinion.

what would a do plex cost?

Uh, the current one i'm looking at right now about four ninety nine.

okay, right? To take a few years of saving up to do there. What else do you do other than there's .

i'm a commercial diver. I I diver though, and I also I worked for a company up here.

Yes, so what you're income on and .

about sixty year.

okay, so your income, your household incomes, how to speak? You fifty and sixty seven, one ten.

as I sound right, okay, cool.

right. And you're single. Get with all your housing paid for sure, you could save a ton of this and just start only in good mutual funds and use those mutual funds to pay cash for A, A, A duplex later.

So the danger of what of your situation is, is that your, you and your, your buddies, your employers are all very familiar with touching and owning and transacting in all gold because it's just part of your culture where you are, right? It's like everywhere, it's all around you. And so the danger of that psychologically is IT causes you to can Normalize that where it's not Normal anywhere else to do that.

But IT is right there in your world. And if IT Normal ized IT cause you not to look at IT through the lens of an investment instead, it's just kind of part of your life. And so i'm onna. Step back and look at IT as an investment and say, I don't want to do this as an investment.

I would rather have my money and good mutual funds and um let the volatility of the gold world not affect the Young single diver in alaska A I want you can wake a bunch of money and end up with a bunch of IT instead of rolling in the dice. And when you're playing with metals like gold, you're roll in the dice. What i'm .

saying definite gamble .

on .

the way you mean were only since it's nine cent periods, not that kind of stuff. You go by a costco necessary. No, it's ninety cent gold, seven and you so it's a little bit different than what you go on like day A R go.

So how how do yes, I don't know how to do that. How do you do IT?

So there's a few different ways um first way that a lot of people do, there's company up here called uh G C R. I think you got that right. They'll take a small cut of IT no refine IT. We'll give you a fifty per check right Better than a couple weeks later after a thing is said and done. They give you a check of IT, but that check is about ten percent less than the actual value of IT so that diggs in a little bit to IT uh the other way that I ve been doing IT um I either go to a uh somebody who wants that like truck or something no, by the truck with the middle I did that that was pretty from Donna. Uh get my vehicle um in the last way is uh some people, especially those folks that do the bearing sea gold show, they will do with call pater bags um they take a little bit of goal to take a handful dirt and put in a bag and sell to people that think they want to be all cool and fun, the prospector for a day um and that's one way I was .

kind of wondering that that would be to do that. I'm just looking for a way the first way sounds the most logical to me is you're giving up a cut to turn IT into money. Is that simple? And um the only question I would have is someone uh down in the lower forty eight that you can jump on a plane that does the same thing that company does but gives her you a Better cut. Like are they up because they're up? They are they are they lean in .

into this uh in in certain cases, yes, there's uh, I mean, the new york is kind to win the big places, but that's a quite a large plain ticket to a get over there and that be cutting into the the mount that you get back. But uh roughly, the G C R is kind of the one that you want to go with really is anywhere depending on the purity.

It's not easier .

to per yeah your option .

is you got a pile of auction the corner or you go J R, and give up ten percent turn in the cash. And so i'm returning into catch. I'm not turn in to cash.

I like that and and i'm not get in the dirt back business. That's a different thing. Now it's a tourist thing and you have a new business and that's a business movie.

We're starting a small business in order to liquidate this stuff. And so that's probably not the way i'm going either. Interest.

I know was going to say .

time i've got in that call in thirty two years.

he actually finds the gold.

No, never got gold down the cold water deep diver and alaska dredging gold call. Now mike roll actually know those guys and so he's up there all the time. He's been out on those boats. But yeah, at a different thing.

Everything way to make some good money to fifty .

grounds don't done honor to have you on our audience very need what you're doing down very venturous. This is the rami show. Are you guys i'm not a fan of the big banks and you probably already know which ones.

I mean, but I do like credit unions because they are non profit organizations that focus on their members. And i'm proud to endorse fair winds credit union because they share the ramsey mission of ing people get out of debt and live generously. In fact, they design products to help keep you from going in the death in the first place.

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guys, is Rachel cruise. And guess what? It's my favorite time of year, the lights, the music, that decorations, I mean, I love at all. And as a natural spender like myself, it's really easy to overspend. And I want to do all the things and give my family the kind of holidays they'll always remember.

And at the same time, I don't want to look back at my bank account in january and think, oh, what did I do? So that's why I use the every dollar budgeting APP IT helps you plan for all of my spending, and that's what a budget is. Then when I have my plane in place, I don't have to worry about overspending.

I am free to spend guilt free and have fun doing IT. Plus, with every dollar, you can customize your budget however you want. So whether it's buying gifts, hosting dinners or even turning your living room into a winter wonderland, every dollar helps you plan for at all.

So you guys go out and create some great holiday memories with your family without the stress of overspending. Download the every dollar APP for free today. Go downloaded IT today.

Rachel cruse ramsey personality is my cohoes today, the ramsey show question that I has brought to you by why refine, why refine refinances defaulted private student loans, which are different in federal student loans, while refer refinancers your defaulted private student loans and builds custom loans based on your ability to pay.

So kick your private student learned that out of your life by going to why? Refind outcome? Slide M Y, that's the letter. Y R E F Y dot. Come slide msy might not be in all states.

Today's question comes from Jamie and minnesota, SHE said. My husband and I are fifty one and fifty three, were debt free and have three cars that are fully paid for with house income of one hundred and fifty fifty thousand dollars. We are debating whether or not we should sell one of our cars were fifty thousand dollars and apply that to our mortgage.

We owe about ninety thousand on our mortgage and we'll be paid off in one year if we sell the car versus three years if we do not sell the car. My husband things you should not pay off your house early because we can't deduct the mortgage interest on the tax returns and he's afraid will. The IOS last year, we paid three thousand ninety seven dollars and sixty six cents in mortgage interest. Can you provide some feedback on that and what your recommendations are?

okay. Um well, the mortgage are are the tax deduction in general, including Morgan, rest is the biggest piece of mythology and all of personal finance because IT requires that people forget how to do six grade math. Let me walk you through IT.

If jammy, if you actually mize, then you can claim your charitable deductions and your mortgage interest rates, by the way, last year because the standard deductions are so high, almost no one admixed, including you. You probably didn't even ized. So your husband is completely unaware of how this whole thing works, because you didn't take a deduction for your mortal interest unless you itemized nine percent of america's atomised, ninety one percent do not.

If you do not itemize, you do not get a tax deduction for your charitable or for your interest. So ninety one percent of the people that didn't even come up for IT with right? So that's just dumb.

Not not you jammy. But when people are saying you're not taking IT anyway, you just don't know how your taxes work. You're that g plug into IT right now.

If if you do.

if you did itemize, then you sent the mortgage company three thousand dollars, three thousand ninety seven dollars, thirty one hundred bucks and that reduced your income, your hundred and fifty thousand, or income by three thousand dollars. A tax deduction is not a tax credit IT low. There's the amount of income that is tax.

So the tax savings is not three thousand one hundred dollars. The tax savings is three thousand, one or other times your tax rate, which you started two percent in your case. okay. And so you saved one thousand dollars in taxes if you itemized.

So here's .

how this works. Your husband is suggesting, absurdly, that you send the government thirty one hundred dollars. Are you send the mortgage company thirty one hundred dollars to keep from sending the government one thousand dollars? You're trading dollars for quarters, dumb trade.

So always pay off your mortgage. Never keep IT for the tax deduction. If you send somebody ten thousand dollars to keep from sending the government three thousand dollars, by definition, that's mathematically stupid.

And then I call myself so histin ted because I didn't pay out my mortgage because I had the text deduction, but I really take the text deduction because i'm not even one of the people that I just didn't know that that's most people with this opinion around the thanksgiving ving table. They are just absolutely do not know how to do math and they don't other reality. The situation now worse than that, the worse than your broke brothers law telling you this at thanksgiving.

You're silly. They rds IT. But worse than him. The one that pisses me often in are people that do taxes for a living and they tell the small business person or they tell you to not pay off your mortgage because you'll lose the tax deduction or to run your expenses up on things you don't need to buy.

You need to experience some money by, otherwise you're going to get taxes. Well, that is assi ridiculous. You want to a hair care place and you spend ten thousand bugs.

You don't need to spend because your tax prepare is a more on who told you to do that. That's tom may help you. You got two words for these people that give you that advice your fired .

the tax right off it's like the shits create episode where he's like, well, just it's a right off and he's like, yeah but who's writing IT off is like, I don't know the right off people that just gets written off. It's like this mr. Core idea of the tax right off like .

IT IT is like .

a always I know .

it's the tax right .

right people .

that's great and that eviot so listen, if your tax person is telling you to run up your expenses or do not pay off that because you're getting a tax deduction, they're telling you to try dollars for quarters. You don't need someone that can do in your tax as you need new tax people go to M C solutions that come and get one of our tax people. They do not make this mistake.

Believe me. We would would not have a ramsey trusted design on their door if they made this mistake, because they ouldn't be trusted by me, because they don't trust people. They can do math.

So there you go. That's what we're doing here. So guys, whatever you do, don't fall for the tax deduction myth. And the irony of irony is all of these people discussing at ninety one percent don't iambic in amErica a day. That's everybody you I mean so because .

because for majority of people, you get a Better deal if you .

just take the same .

of something anyway.

Actually under the under the trump tax code in his last administration, he ran the standard deduction wait up yeah you get an automatic deduction just because you breathe and your real deduction don't add up to that. So you're Better off to take the big one.

the .

breathing deduction .

from the right .

of people that but there are there that's the standard deduction has .

changed the game and it's made .

the tax filings very easy.

Seventy person because this was a main point back in the day at our live events back in twenty, you know two thousand and .

four o that don't demise is so few. Yes.

I was absurd back .

then because you're trading dollars for quarters and we cover in the live of this in .

those older .

in and I was absurd back then. It's just as absurd now for the same reason but it's double because .

it's anybody and .

I bet your money Jamie doesn't adze yes. Ninety one percent yes. And so I done even come up. So her husband's arguing a theory that he's not even doing a and then if he was doing IT is trading dollars for quarters so don't try dollars quarters pay off your mortgage .

and argument for not paying off the mortgage is I can make more in the markets versus what i'm paying an interest .

yeah said no million years ever the million years that we, the ten thousand millionaire that we studied, not one of them, precisely zero OS that I became a million aire by not paying off my house and investing the difference, the market. None of them say that it's always broke people. They say the stuff, the broke people that don't want to lean in and do the smart long term financial place like getting your home paid off.

yes. So yeah, it's it's, it's assi you guys the data just does not back IT up. The math does not back IT up.

Pay off your house people when you get the baby. Step six, finish the baby steps and pay IT off and don't deal attacks people they can at. Please god, this is the rami show. Hey, guys, i'm never done this before, but i'm partnering with a nutrition company, field of Greens.

Each fruit and vegetable in the field of Greens is selected by doctors to support heart, liver and kidney health, plus metabolic for healthy way, and your doctor will notice your improved health, or field of Greens will give you your money back. I can get behind the promise like that of the dot com slash ramsey folks. The ramsey Christmas can give away here.

And you could win big or giving away five hundred dollar Prices each week and one grand prize of five thousand dollars inner daily for your chance to win. Ramsey, solutions that come slash, give away. It's that easy.

Plus our fifty days of Christmas deals is on right now, get up to thirty percent of best sellers and life changing gifts won't break the holiday budget. Ramsey solutions outcome slash store Rachel cruise, number one best selling author rami personality in my daughter is my cohosh today. Feel free to drop by and visitors in the ramsey headquarters.

We do this show from one to four central time every monday through friday, and it's free to drop in and watch the show. We do the show on the glass in the lobby, and there is always fifty to two hundred folks out here watching the show. There's free chocolate ship, homemade cookie smells like mom's kitchen when you walk in here and free coffee so come hanging out where there's watched the show who ever tapping IT and doing IT that day is not taping his live but yeah, we're hear doing IT.

And in the lobby of ramsey solutions, when we built this building, we put up the debt free stage right across from our glass here. And what are favorite things is to do a debt free screen on the debt free stage. The only thing that is more exciting for us than to do a debt free stream on the debt free stage is to do IT with a ramsey solutions team member and a briana Moore is whether she's one of our team members. Welcome, briana. hi. Way to go. congratulation.

Thank you. Can you here tell tell .

folks what you do here at rims and how long you've with this?

I've been here for four years and I do seo and content marketing for our amazing real state department shot out rules.

So rami, trust real state agents across the inland benefit from your hard word yes. And you're writing doing the content on the website and other things to cause content market that to calls all that to happen. Okay, very cool.

Good for you. Four years you've been on the team all right now. We do not.

This is the one time we don't ask the folk's income because thirty or forty of the people standing around and fifty the people stand around, work with her. And that would be a wee bit awkward. So we're not going to do that. But we will ask you that how much did you .

pay off to enter them? Four thousand.

oh my gosh.

And how long did they take?

Six years.

Six years. wow.

And forty dead.

Was this .

student loans? One hundred and sixty four, that was the principle. And then forty thousand of that was interest.

So all student.

yes, student loans. Would you your degree in .

digital media manager? Well, for your business degree, yes, at a private school in Austin. So you go.

yeah. And you pay. Wow.

oh my god, how great though.

How long have you been?

School six years?

Okay, so you started immediately and took you six years to clean that up. You lean in four of those years you have been here. yes. So does that make IT more awkward to work at rm z while you're working your destination all or easier because I would think all the peer pressure is positive.

Yeah, this is definitely easier and more fun. And I felt less shame telling people how much I was paying off. So that was really fun to be like, yes.

you cut workers are like cheer and you are right. I think your team members, right? Like, yes, yes, yes, yes, yes OK that I hope so ah if not, tell me who they are. Yeah, I love IT very cool. So incredible.

okay. So what happened six years ago? He graduate college. yes.

So I think I was sort the end of college. I was realizing what I had got in myself into, I don't think before I went to college. I really understood what you know is alone.

You've pay that back. Yeah and so towards the end of college I knew, okay, it's kind of a non negotiable. I can't live with this death for the rest of my life. I knew I was going to have to take f few. So I did that as soon as I graduated.

And I knew I had, how did you know to do that?

My parents informed me of you and your program, there are everyday millionaires and teach us for you. So they were beled to kind of learn with me at first and become those everyday million's everything too. And then we kind of like, did IT together way to go.

mom and dad, you'd to be proud, very good, so that some of your other cheerleaders.

other than your team, is, yes, yeah, yeah. So after graduation took f you started paying IT off. And I would actually like, cry myself to work because I hated my job, and I was doing IT basically, because I knew that I had had an income and do something, and I was living rent free at home, and I would listen.

So I knew I was .

gna cry.

you're great, great.

OK, where were you living .

in history .

with my parents? Okay, so OK six years is a .

long time .

fighters by yourself for your principle. Way to go proud of you anyway.

So I would listen to the rand zy show on my way to work and cry, and listen to the defy screams in vision myself. Doing this one day is so it's really cool, and I didn't know it's going to work here.

How did you end up coming to work here?

You've found me, al lindon, and asked me to apply, and I did. And then you gave me a job.

great .

recruiter out.

We tracked her down and snagged her out of a miserable job much.

yeah. So the rest of the four years has been here and it's been an amazing journey.

Oh, okay, so you moved to ashville. Yes.

and it's a fun way you get the call from us and you're working this plan because of us and your mom and data epu graduates and you've been to happy you and we call up out of the blue and say, do you want to join us?

Yeah I mean, that had to be weird. Much a good yeah don't call .

this is weird. Yeah oh my god.

Okay, so I wanted know from the moment you so you moves in nashville and nashville a fun city, right? Mean, there's things happen and stuff, you know, people going out. I mean, it's it's an enjoyable town. So what what was the pressure like or what was the feeling to sacrifice like the hard of saying no, you know, to a life like what we're the things you said no to that .

we're really difficult. I'm shopping. I like to look you and I got IT for a long time.

It's so shopping definitely for six years though I did have to budget like some fun in there because I was just going to go to so I was able to do some very small like weekend trips with friends and keep IT and control IT totally. And I just really, the sacrifices were not having any time to myself. I was working up to seven jobs at one point. Oh my god.

So what are you doing? I so working full time. I have a photography business on the side.

And then I was doing anywhere from like three to six to seven additional free Lance jobs where I had seo clients on monthly retainer. And so I was doing that for several years, and I was exhausted and miserable. And I was just working. Non, I would work here. I have memories of working here, getting off IT for work, going downstairs and sitting in the cafe and working for an hour inside jobs, going to work out and then going home and working until I went to sleep.

And I would do that for just like five days. I know.

just straight all the way.

Yeah, grading IT yeah. I was making on a low year, fifteen thousand, the way, thousand a year inside jobs.

amazing. Which wet helps put a dent into him and done. But the budget was obviously helpful.

But amr kind of naturally a frugal persons for me, having that much in being a single income. I just had to get more money. Yeah, I had to do anything .

to make more money because you for feels good.

I kind of didn't. I haven't really felt what IT fears like to be free. Murphy hit me two weeks after I paid off my dead and I got ta court accident.

Somebody hit me and told my car. So I haven't really felt that free because i've been financially dealing with that too. So i'm like, hopefully after today I will feel really bad free.

我的 是 fish， 有 1 you are， yes, by the way, gratulations so proud of you. So your moment, they are your team. Which church on anybody else? Or yeah.

my parents, my brother, my sister and law, and then all my friends and ala specifically, and then all of my awesome teammates.

co workers, very cool. Well, gratulations, alright, other than getting a job at range and having us track you down, what is the key to getting on a dead for all those fp u graduate out? Their .

listening for me, I was making extra income, definitely, and just not, there is no other option but to do IT get out of debt. And no matter how much you have, you can do IT. I did IT as a single person, and I made this happen twenty nine.

That was the other thing was going to say. I'd paid IT off three days before my birthday. I was my good.

yes. So I had thirty.

a little over thirty thousand at the begin this year. And I said, okay, to do this to. And twenty.

happy birthday. Well done. Love you. I love you. I love IT. Well, we're proud of you.

I know your mom and dad and know your friends are way to go. R. I, it's briana.

SHE paid off two hundred and four thousand and six years for those years working on this team. Count IT down. Let's hear a dead .

free scream. Three, two, one.

free 耶。

So good.

man.

SHE, she's .

amazing and so good.

This is the ramsey show. Well, it's decision time again every year during open and roma, you have the chance to check in on your insurance and make sure it's right for you and your family. Whether you have health coverage through your job, a private company or a program like medicare, you don't have to figure this out alone.

We have a bible folks we trust to help you get the right coverage for whatever stage eran go to ramsey solutions dot slash health dash coverage regio cruse ramsey personality is my co host today. We tell you around here, if you'll pay a Price to win, you get to win. We say live like no one else, so later you can live and give like no one else.

And when you're in baby steps, one and two and even three, where you're finishing the emergency found and you're paying off all your debt with your house, you should not go on vacation, you should not go out to eat, you should lean in and knock your dad out as fast as you can. But when you get to baby step for, you go from intense to intentional. And that's when you get to buy that new culture graduate car, go on vacation.

That's why we named the creese, the rams y crews the live like no one else. Cruel because it's for baby stopped for and beyond. IT is almost sold out.

There's a hand full of cabin's left for march twenty two through twenty nine in twenty twenty five. This is a premium kara bean cruise, turks in chaos porter eco saint Thomas, the bahamas hall in america's one of the newest ships. IT is a high stands. I don't go on these tube cruise, okay? I like the .

nice one day I with travel.

but i'm not staying in the frequent holiday in anymore. I worked too hard so and and i'm not staying in the holiday and on the seas either. So this is a nice ship up.

It's gone. Be a lot of fun a share and I will be on the ship the entire time. All of the mi personalities will be on the ship the entire time.

The comedian tray Kennedy that makes fun of me will be on the ship. That's fun. Uh, world class chef from the food channel monitored n will be on the ship.

A devil award winner grammy or winner Stephen curtis chapman and dinner Carter both will be on the ship. And there's going to be others. It's gonna a wonderful fun, laughing, celebrating, entertaining week.

And most of you are not gonna to go because it's just a end. Follow cabin's life. You need to get your cabin while you can.

You can put on a small deposit and lock IT in. And we would love to have you do that RAM c solutions dot come slash cruise. If you don't get this done, you're gna have formal or whatever that version is for cruce mo.

So there you go. Don't miss out on this open phones at triple eight, eight, two, five, five, two, two, five. John and pitch bird and john, what's up?

mr. Ran, thanks so much for for talking to me. So in that shell, our issue is that our our homeless more expensive than we probably should have gotten.

We are living in paycheck to paycheck and quite often the paycheck doesn't even a cover for two weeks. So we are bleeding from our minimal savings and paying uh for the things with our credit hard and only paying the minimum. IT is two thousand ninety dollars month and what .

you take on .

by take on pace about fifty。

Five .

seventy? No, no.

you take home pay in a month.

sorry, take campaign a month is forty two hundred dollars.

Yeah, you have to sell the house, john.

That's that's what we were thinking .

about doing is fifty percent. You can do that.

That's why you're done mean .

you a feeling of that. But they are arithmetic is screaming that you're starving to death.

So I get my biggest .

concern with that is if we're not able to if we don't have home to cover clothing cost.

john, you can stay in the house and you can stay in the house.

Look like where does that? That money .

can put credit cards.

Yeah.

that's true. So i'd rather have five hours on a credit card than a mortgage. You can ford.

What's the math of the of the mortgage now, john, what do you guys? Oh.

we are two eighty seven OK.

How much is worth?

Um I mean we .

actually .

just got IT back down to what, uh what IT was worth when we got IT was .

two eighty .

seven five to two number number.

Okay, go online at ramsey solutions, not come and get one of our ramsey trusted real estate agents that are high performers that actually know what the flip they are doing, have them come out and look at this and give you a market analysis and tell you what you can. But you've got to find a way out of this thing. It's not sustainable. That's what you already knew. You just needed someone else to say that out loud.

I think you right.

it's not even close. You're not like on the bubble or anything. You're over in the deep end of the pool. There's no there is no debate here. Now the only the only thing that could happen is art. Do you have anything in the near future in the next six months with your daytime career, your Normal career, that looks like you're going to have .

a huge increase in pay?

Second.

no, no, no, no. I wanted na talk. Second time, not sustainable. I don't want to sign up for something when I do a second job for fifteen years.

I'll do a second job for a short, pretty time to get out of a mess, clean up a mess, right? But you don't want to do that. Your house poor.

this house on you, you don't know.

IT, i'm so sorry and it's going to be a little embarrassing, uh, but you guys, you you got married and everybody yell at you and said, Young couple, go buy a house, go buy a house, go buy a house, go buy a house and then we went, found a house we liked and the idiots of the mortal company just sanger but up and they put you in a crack, didn't they? Well, yeah, yeah.

you guys have kids, john.

Uh, well, that that's one of the other things is posting is we we can have one we weren't exactly expecting, very thankful for, but we were not expecting.

Is he is your wife expecting or do you guys already have?

Is do you have the baby?

OK OK? How long you guys been.

uh, in twenty fifteen of ten years?

Yeah, okay. sure. Are you like thirty years old?

Yeah, yeah, yeah. OK. Well.

let me tell you a couple things. right? When twenty eight I went broken, lost everything, and I was a much more severe situation in the union.

But IT taught me some things about situations with stress and the number one calls of divorce in north america, day's money fights and money problems of money stressed. And you got that. So your wife is afraid and you may not want to leave this house, and you're are confused and feel like you did something really dumb.

And maybe, know, maybe, I IT maybe you took a hit in your confidence that that would be Normal, all those things, if you all are having money fights and she's very afraid, and you're not as confidence as you were before all of this mess, you would be Normal. That would be a Normal reaction to your situation. Okay, what I want you to do is get away, mall.

That the destabilization of your marriage, your lack of confidence, her, her, her being terrified, this house is not worth IT. It's just a stupid house. There's a house on every corner in pitch burger in there, there, everywhere.

And you'll get you another house that doesn't get you. You'll never do this again. You'll never make this mistake. You'll get the rest of your life to make other mistakes, but you only make this one again, right?

Yeah, yeah.

It's not fun.

Is IT it's not. Is what .

I was saying true?

Um everything except for my wife, she's totally on board with getting .

ready .

this place OK SHE said. I want out no well, it's not fun for her. And the interesting thing, john, is we have a phrase called financial piece.

It's on the books that they wrote. But but that is IT is what we want for people is peace. We want peace.

And just like you said, theyve like it's a house, it's just it's a house and it's not worth the stress in the anxiety and any level of satis of ownership like whatever the play is for you. It's not worth that your peace is worth so much more than stuff and that's true for cars or anything. But IT feels magnified as a house.

IT is big. I mean, you know, it's it's a three hundred thousand dollar you idea and it's where your family lives is emotional tached. I mean, all of IT. But get rid of IT and go rent somewhere and just just breathe for two to three years some money .

and get a down payment and then something else based on your income at that time. And you don't take out folks more than a house payment, more than a fourth of your take on pay, not half your take on pay. And just because the idiots of the mortgage company will give you the loan does not mean it's a good idea.

They will run you if you let them and they'll paint you if you let them and they'll make your life miserable if you let them. They don't care. They don't have sold. This is the razi show.

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