What if You Could Build a Life That Didn’t Exhaust You?
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Live from the headquarters of rainy solutions. It's the rams you show. We help people with their money, with their mental and emotional help, with their work, with their marriages, with their lives, and join the lone, joined by my great friend George camel. We are taking your calls live at triple eight, two, five, five, two, two five, triple eight, eight, two, five, five, two, two five on this incredible, this beautiful cold nash rial day it's got a shared in liming and talk to bread.

What's a hey, my comment through?

Yeah, you are coming through that .

and clear rather what's up. So i'm twenty four. I just took a new job. And so after expenses and rent and all that good stuff, i've about thirteen hundred dollars each months left to play with giver take.

I currently have thirty thousand and student loans, but I do have a thousand dollars. Are they saved up and i'm opened in the near future that I can buy a house here? And I was just curious as like what money markets are neutral funds that you guys were at? Uh keep me so um i'm curious as like what kind of ways I should invest my money to make this dream reality to be that free and to hopefully be a home .

on or here to love IT. Well, i'll tell you this right now, you should be investing in your freedom and that means getting out of that as fast as possible, which that means the hometown am needs to take a back seat for now. So that thirteen hundred box extra, I don't think it's playing money. I think it's get out of dead money and we'll get to investing soon enough because you have thirty eight in debt.

What do you make um I can make about forty seven or uh yeah about forty seven.

forty eight year. Okay cool. So basic np in math says you get thirty grand debt. You're adding thirteen hundred box on top of your .

minimum dead payment so that thirteen hundred is just what I have left over after all .

of my he still got to make your student .

loan payment in that. So no, my student loan payment is already made that thirteen hundred like one every bit of like my rent uh, wifi, grocery is gas all that is paid for.

okay. So you're gonna had a debt at this rate in about .

a year and half OK and that and so I mean.

that's just you do thirty hundred. If you can do fifty hundred, will will cleaning IT up faster. So that would be my chAllenge to you is how much faster can we get rid this debt to get the fully funded emergency fund to then begin saving up the downs yet? And if i'm in your shoes of that dow payment is gonna you let's say you're going to save up for two years. I wouldn't put IT in the market just too much risk there. I would put in a high yield savings account.

Okay, how do you bring i'm .

twenty four years old.

what what your work that you do .

um i'm like a lower level project manager.

okay. I'm telling you this, twenty years older than you. okay? I'm trying to think of something cool that happened at me when I was twenty four. I got married twenty four, so that was pretty cool. But before that, I can't remember, I can't remember a dinner I went to, i'm sure I did, or a concert I saw, i'm sure I did. I don't remember IT.

If you will do something for your twenty five year old self, if you would go get a weekend job, or if you would leave your job and be exhausted and go throw boxes at walmart from six P M. Until midnight. And you did that for six months. You will, oh, nobody any money at the age of twenty four or twenty five.

Yes, see that up. I was considering getting another job. Been looking around town for part time work, either something like early morning, like I know, like some local gyms here looking for some morning work or at night to though there's some there's options here that I was considering.

Dude, if you will do that, twenty five old, you will be free forever, forever. And I tell two year old all the time, work like crazy in your twice the work you put in in your twenty is pays dividends in your.

for you have precious resources that age, which is time and energy. Yes.

in a strange like superhuman way to rehabilitate yourself. I don't understand how twenty year olds knees don't hurt like, mind you, but they just don't so awesome.

I mean, minor banking get pretty .

sort some time to, I guess, from, anyway, do yes, work three jobs, work four jobs. Give yourself a bananas chAllenge like Georgeous sly the Matthew, you can be debt free in twelve months just right now with nothing changing. Do the math and see that would take to be done in six months.

ChAllenge yourself. You're twenty four years old in everyone if you'll know you're doing IT right? When everyone around you like you're crazy, you need to rest. Honey, i'm worried about you. Yes, perfect. But then when you hit that twenty five x hail, relax, like be amazing and here's what i'm promise she's onna happen you're gonna some synergy at your work too.

People going to ask you like, man, you're like, get stuff done and I want you to come help me on this project like IT just has a leveling effect that levels up every part of your life and a really strange, bizarre way. But it's pretty cool. Are you in.

And I IT all, yes, absolutely.

I love talking to twenty four, twenty five people who are like that. I'm ready to burn the ships I could do IT so good for you, brother. Let's go.

I merry to get rid of stuff because I said I want to live american dream .

best at bread age.

I didn't make as much, and I had more debt, and I did in eighty months. So that tells me breads going to do IT even faster. And he's gonna go on places because I was still a nuckles head that .

I thought the american dream. And I twenty four, was a bigger truck. I had no idea like, so, good new brother.

Good I are. Let's go to Justin in seattle, home of elson chains. What's up, Justin?

Are you weather .

john just up a Better?

What's i'm here?

I think you're breaking out. We got Crystal clear signal, man, what's up?

All right. I'm twenty three years old. My life is also, uh, twenty two. And we're over here and we got mortgage that we just bought on the house like you know three hundred and forty thousand and baby wary we should have know not have bought this house, but we are now in IT um and now we have also car loans. So i'm calling out of getting a second opinion on the death are .

like which money do you you have .

car allows at three hundred .

and forty thousand in our house note, and how much other debt do you have?

Uh, so twenty five thousand and car loans, about three thousand five hundred dollars of the twenty five thousand dollars could be refunded in a warranty on the car that we just thought good .

gets us down to twenty two. Okay, what else what other debt?

Um so that's all the debt that that's all over debt is our house in the twenty five thousand and cars and is your .

wife working outside the home?

Uh, no, not going. She's trying to do use some baby sitting on the side because we just had a baby son, uh.

back in the thank you but it's not fun because you're not fun.

Dives are thousand dollars. They can tell you that did they just in debris cost a thousand dollars a piece, admitted of goal life?

No, they did. Uh, a class run.

Definite help though. I so how can we help today?

So right to pick in the clock just. And so get right to to your question. Really.

I have about thirty five hundred dollars in a row, ray, that I can take out in contributions. I also have bonuses that I get, eat here, about six thousand dollars.

I would use the bonuses, told the debt. I won't touch the roth ira, and I would consider selling the car if you guys are really up against this. And that mortgage is more than like forty, fifty percent, or take pay.

This is an on fire situation. You got to get your income up. You gotta sell the corn downgrade. And long term you might decide we can't stay in this house .

and she's probably going to have to get a job. And so not just vidal around the edges with babysitting, but she's gonna to open a babysitting shop in her house because you all need income. The rainy show will be right.

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Well, come back to the rains you show. I'm just only joined by George camel tripoli, eight, two, five, five, two to five were taking your calls live. Our early black friday sale is here, whether you're shopping for yourself or looking for that perfect gift to help someone get their money in order, now is the time to shop and get hard cover books for twelve books or audio books if you can't read like George for only eight box, a couple of books on sale.

Uh, money is is not a math problem, is on sale right now, is a great gift for anyone wants to pass the to get past the we can get money mentality, total money makes is on sale. You may heard of that book um if you haven't heard on that book, welcome to earth. Good to see totally my makeup you should try get IT so great gift to give to anyone.

Got to range zy solutions dot come slash store to check out all of the Christmas deals or you're listening on the tubes are on podcast. You can click the link in the description. It's got to the eight of six to amoral taxes and talk to same. What's up, sam?

Hey, are you guys .

rocked onto the breakdown rather what you up to?

Oh, man, let me say last few years of my life has been some people call each street. Now A, I would have agree, believe he told me ten years ago. And now I am struggling to fine purpose. I'm struggling with the, with being fulfill.

What does easy street mean?

Well, I was in the military。 I did eight years in the U. S. maybe. And I came home, got a full year degree, and I decision, is that okay?

If I, if I meet to, if I meet my my ventures while in college, then i'll start a family. If I don't, i'll go back in the services and officer, and he wouldn't say this habit. The lord bless me and I said, my wife, and we've been very now for six years, he is a family medicine position and board surf surgical up situation.

So he makes follow the money. And we have three beautiful babies. I love my babies. I love them so much. But, uh, the bible makes IT very clear. It's not good for me not to work and I just I feel like the pressure is on even though I don't need IT for financial purposes.

I just feel like i'm not doing anything of value, which I know is a lie you know, raising my kids is the greatest value that I can have is is is even being but is certainly the most lasting impact. You know, money is going going to go, but my kids can make a lasting impact on the 拼命 的 impact。 I just don't see the return on investment right now, and that's where .

i'm struggling. Man, if if you are here, if you an hour to sit, if we met up in love and we are to sitting down in the shadow, the stadium having a drink, I would get up right now and i'd walk on the table when I give you a hook. Here's why for some reason you believe that your value is economic, like that's IT.

And for some reason you have backed yourself into this corner of either or. And none of us make good choices when it's either. I got staled with the kids, or i've gotta leave everything and go to like you have back yourself into either or or gone crazy.

So take all clear. Clear the deck, clear the whole. You could snap your fingers. You've got a four year degree.

You've got a, you ve got, you ve got someone who says, a great wife who's also super talented and and her talent actually makes a whole unit of money. My wife was incredibly talented, but he was a school teacher, right? So, very different.

But your super talented wife makes a jillion box. Forget all of that. What do you wanted do?

I say that that's the part of this equation that makes me feel kind of .

overwhelming. You know, I, i'm, i'm, what do you want to do?

We're impressed .

by your linton, I promise. Yeah, look, what do you want to do with your life?

I, what what, I, what I want to do, honestly is I want to, I want to get in the ip. I want to, I want to grab that ball by the horns, and I want to take you, I want to take you for a red.

which for you, agree.

network administration.

why are you not working .

unit I was. But then when my wife says.

see, why are .

you work in I T? We didn't have child here and feel like three months ago now, I ve been trying to fill application after application and i'm just email, phone calls back and it's really started to kill my my life.

Okay, so what you're finding out is you want to do a thing in the art of road you're trying to take isn't working cool. Can you find some folks at your local church there or over IT A W T, and go out there and have coffee with him and ask them about IT opportunities and animal texes?

I I could probably talk to someone for sure, and I don't know who that someone would be, but I could start asking questions.

All you want to take, take one to coffee.

Do you know anyone that works in IT, even facebook? Friends.

uh, I get facebook like ten years ago.

okay. Well, you need to find some people who are in that field.

Are you get people that you get people are in the service with that are out scare across .

the country they they are actually. And then I try getting help there. And the they tried to help me get jobs.

But even, even there I came 15分。 I have admittedly dly. I have not duggin. I have doug is deeply locally as is I probably good and i'm not been from here. That's part of my hesitation.

I'm like there can be like, who's this guy? This they're and again, IT goes back you that's why I would have current table and hug you because you're big. The cancer here is not that you haven't found a IT job.

The cancer here is you have lost purpose. You think when you checked out of the military and married an amazing woman, that there is a period of the interview senate. And that's wrong. It's not true to lie.

And so when you go looking for a job, you're going looking for a job with one foot, you're just send them out a bunch of linked in profiles and you're let us know how people get jobs. And you also, I know you aguer in service. You somehow convinced an amazing, uh, uh, physician to marry you and what you didn't convince you, you're probably a pretty amazing guy.

You went knocked out of four year degree out and you ve got home. You've got all these qualifiers that tell me that you are hardworking, good man. The only person in your world who doesn't believe that is you.

uh, you're not the first first that revealed that to me.

Okay, but here's a thing. You can't manifest that belief. You have to go. You have to stand on a series of concrete steps that can only be stood on if you take action.

Okay.

so what the so so this is you going to sunday school this weekend and you asking for per request in your unna school class and say, hey, i'm a military veteran. I've got I really want to get into IT work. I don't even know to start if anyone has anybody um I would really be grateful if I would like to take something to coffee and learn about what's going on here in mal, texas. If anyone has a connection down in the multiple small startups that go on in love with taxes on on a connection there, and I guarantee you, somebody will call you, will talk to after class your homework .

and research and go, what are all the jobs that I really want? What are they saying must be true for me to get this job. Okay, let me make sure I have that so that when I do show for the interview, it's not a duck.

I know exactly what you're looking for. I've done my homework. K, I know the company. I know the mission. I know the skill set needed. And then on top of in person goes, cowered the subtle threads for IT and see what people are doing, how they got the job they're doing, do they enjoy what they're doing? You've got a lot of homework to do, and I think that will get you get the fuel going again.

You fire IT. Do you have do you have any men there in imo that you hang out with?

Oh, no, that's part of my problem. We we moved here five years ago. I never really kind of integration ated myself on the.

okay, that starts today. The most common conversation I have with former veterans is you more than anyone else on planet earth. Veterans know more than anything what it's like to be in relationship with somebody, stand shoulder, shoulder, shoulder with somebody who will die for you in its almost impossible then to come home to unhook from that level of community and connection and come home and sit next to some net flanders in a coffee shop who's like, know that is really hot to shut up I know what real connected friendship looks like and what so veteran after that, an after veteran that I talked to, does they just circle up and they stand side their house in netflix says, I got the next show for you, just stay there.

And so your mission right now, brother, is to go find a group of men you can go do something with, go mule deer hunt, go hiking out in the king, and go do some stuff with other guys. And they're going to say, no, you're going ask again and you're going to say, no, you going to ask again, you're going ask again. You're onna find a small little going out there, even if you can find some folks who used to be in the services and now they retired out to west tax is great, but your mission is to go find a group of men, one, two, five, ten. I don't care who will do life with you, and I promise you there will be connections and IT make the call. My brother would be right back.

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Well, come back to the range show. I'm john the loney joined by George camel. It's got a panama a city flats and talk to the great empowerment Jason.

what's up? Jason?

We're just party umbrel what's up in?

So my question is that um I have a little bit money for my herriton, and i'm wondering if right now is the right time to invest or if I should wait a little bit for the economy to do its thing.

What does do its thing mean it's been doing.

it's arted .

to pick up what economists .

and brother, or at record highs every day I went .

for to crash and and get in.

Well, you know, I don't know what's gonna en with the whole election and I swe .

happened .

with IT with this happening but IT i'm worried that I already invested some money for my kids OK for my inheritance in the trust fund so they're taking care of as far as them um but i'm i'm concerned about my me, my wife retirement.

How much money did you get an inheritance?

I got about one hundred thousand dollars .

who passed away .

and i'd put about, I took, I I use forty thousand to pay off on my dad. That was the first thing I did. I paid off. Oh.

my dad and wonder .

so and then I had um of course I took twenty thousand for my kids and I put the ten thousand dollars into um diverse portfolios um with a stop worker uh in in in entire a trust to IT so that that's their inheritance ance when if something will happening in my wife specifically because I have a three year old son whose um .

um special needs .

do do so I wanted to make sure that he was taking care of a Jason.

Jason, Jason, yes, do you have life insurance? I do how much I .

have life insurance on myself, my wife and both my kids.

Okay, why do you need life insurance on your kid?

Uh, just in case I mean something happens to them. I mean it's never never a bad idea that my mother had life in turns on me, uh, because I mind both my both of my brothers passed away, one when he was six and one hundred twenty five and IT did my family hard financially so my mother took life and turns out on me in case something where to happen to me that way to you've had a lot.

You've had a lot hit you in your lifetime. I want a trauma .

and my family, so my father and my mother, my mother died off to first and hit.

Here's a deal you can making a lot of decisions out of fear. I can tell there's a lot of anxiousness about what if it's not enough and what I need to take care.

And I want you to .

just breathe me, slow down. You're gonna be OK. You are so far beyond what most people couldn't even in spell the word trust.

And you've tt a set up for your kids already. So let me just give you some facts to slow IT let you breathe. When IT comes to the economy.

Under president trumps last presidency, the stock market was up fifty three percent. Three and a half years into his presidency, IT was up fifty three percent. Under jaw biden presents y three and a half years in IT was up fifty percent. So basic math says over seven year period the stock market went up one hundred and three percent. IT doubled, correct?

right?

And i'm not a gu. I don't have a crustal ball. My guessed is we're going to see the same thing happen over the next seven years. We're going to see about one hundred percent return.

And I think it's gna go half. I think it's gonna worse than that. And you know what is what's fun about this is you still IT doesn't matter like me sitting here trying to predict georgia like we don't time the market.

That's what you're trying to be right now to go one way to the right time. I want to wait for a crash to invest that I wouldn't wait. I won't invest now. And what you see is over time, the sooner you invest, the more money you're going to have later, the more time compound growth has to work its magic.

And so I would I don't know what headline you're looking at, what stock you're looking at, but i'm looking at the S M P five hundred, the largest five hundred companies that largely represent the overall U S. economy. And that you know when you invest in a mutual fund, that's largely what you're investing is well, the top companies.

can I give you some uh A A different perspective.

Jason, what I mean what I was well worried about was IT is rather than putting in in the stock market, should I go into cds that are lumet more secure with less interest?

If you wants to lose money.

yeah, you'll lose money against inflation. Let let me I mouse that you, Jason, something totally different. You you got one hundred thousand dollars and you paid forty grand of your dead off, which left you as sixty. You took twenty thousand dollars and create a trust for your kids, especially a special needs trust figure through your old right said, lives with forty grand. Do you only wife have a house?

Um our house was a gift from my father in law.

Is paid off OK have a paid off home?

Yes.

you have an emergency fun.

Is this? You have an emergency fun where you are now your own bank. I no.

I I am. We only make about thirty, thirty seven thousand dollars a year giver from our song we listen to you now .

have forty thousand dollars put high savings count. And now you have six months, if anything ever happens, you got six months of of taxes, bills, groceries in an account that you never have to borrow money again. And I want you to look at what you actually solving for.

What you're trying to solve for is you're trying to look at a Crystal baLancer what's gonna en in thirty five years because you're still in the backdraft of the pain of losing your mom, of losing your brothers, losing your dad. But one thing you have never had in your home is peace in, instead of trying to solve for the next calamity common, which, by the way, they are gna keep common. That is, life in the socket is, I want you to solve for peace so that windows things come.

You don't have a care in the world. You can just focus on being sad, on grieving because right now you have you are in a financial position that very, very few americans are in in that is, you don't only buy anything, you have a paid for house. You now have sixty eight months of cash in the bank is just yours, period.

Nobody can take your house away. Nobody can take food off your table. You you see what kind of position you're in, right? That is peace homy out sole for peace in your your main breadwinner in your housework study, seven thousand books. That's not onna be enough money for a long term.

You're enough to figure that out.

But right now you're safe. Okay, do you give on? You give on him given that yeah, I would not invest any of the .

section money this me the main bread wear isn't making enough um and I I won my own small business selling stuff at farmers and markets to try to make an extra money um but in three and half years I only. Ten in. yes.

So it's been a hobby and we're going to stop that. Now you're tired. I can hear IT on you.

You're exhausted. Your plane walk on all with the next interesting that pops up or just stop. But she's put the stop in quarters the machine could play in. Does that sound? You hear my voice.

Does that sound good? We yeah, I mean, I mean, i'm just it's, I do a lot. I know.

I mean, now I have be onest. I haven't greed for my mother guys. I know you. I have too much to do.

I know how much to do. I know here's the thing, your body's grieving will you stop and do or not? So I.

I never never, I never stop. I am going .

not that I know what to do. And as my friend in simpson says, if business is your drug, rest will feel express. And right now you're medicating with waco.

All you're medicating with busy stop tonight. It's the weekend. I want you to you're to come up on thanksgiving for the first time without your mom. I want you to write mom a letter tonight, and I want you to tell your mom how much you, mister, and I want you to tell your mom that later, what kind of dad you're gonna be, what kind of provider you're gna be, and how you're going to give peace to her grandkids that sh'll never get to me. Okay.

you're burning your .

hole through your home right now with your anxiousness. When you get relax, you're safe right now. You have paid for house.

You get forty grand in the bank. You have a small account set up for your kid's future man. You get life insurance on everybody. You're so far head a game, my man. I got to turn and sit and just excel in the sad and this part of the part of the deal .

we ve got to make Jason well again. And then this whole thing will take care of yourself.

And then we get what's to deal, the money he wants to deal with, you know how we're going to like. We don't make enough money to eat and what job going to do. I'm going to go to get that out.

But right now, we're going to excel. We're safe. We're going to grieve.

Mom, in the new year, rules are around going to figure out what comes next for a family. It's a couple of you right back, guys. I ve never done .

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Welcome back to the rains. You show the employee benefit research institute recently did a study asking how many people have a million dollars, say, for retirement. According to the research, only three point two of americans have a million dollars or more in their tax advantaged accounts like a four and k and I.

Fifty eight percent of americans have less than ten thousand dollars having the retirement accounts. Dude, that's car stuff that I had no idea was about six, sixty percent six out of ten americans basically could could do a month and a half in a retirement home. Is IT as a listener of the rampy show? Are you staying on track with the baby steps to reach your financial goals? Here's a deal.

Take a quick quiz to check your progress and receive a personalized plan just for you. Simply head the show notes, clink on the link titled are you on track with the baby steps and complete the free quiz. If you are one of the success of a ten of americans that have less than ten grand, there is a light for you, but you gotta on IT, right? You have to, you ve got to begin to act differently. Jar, that would, that would break me out.

I'd scare me to do yeah and people think it's a life sentence. They think DNA inherently has this in them where they, well, i'm just a broke person, john, you can change. You can just snap your fingers.

And O I don't want to live like this. I want to change my family tree. I don't have to retire broke. And so this quiz will help start to take the next step. Figure where you're really add.

If you just look at basic demographic data, this seems six at a ten who have less than ten thousand algos high seventy percent eighty percent that are that are fragile.

It's about the same that are living .

paycheck to paycheck but also everybody knows that the the ring the bell say, hey ah your social curie is going to be less than like we're not solve in here in the next ten fifteen, twenty by twenty thirty .

four they're onna reduce the benefit by twenty seven percent.

So there is the art wasn't that high. It's a slow car crash. Come on.

you got to be your own financial plan.

Act today, act today, act today. Check out the show notes. Are you on track with the baby steps? Complete the free quiz, stare down this ancient moment in your life and begin to do something different. So got the stanford connecting t and talk to James. What is up, James?

Everything about the nose, john, and your change? They finding .

excEllent the same what's up and .

what I need some advice and to try a little bit carefully, because I am trying my best to thread the needle with my mother. And SHE keeps giving a financial and career advice to my family, specifically my wife, that do not work for our family situation and really do not work in twenty four. So James.

you do not have a problem with your mother in law. SHE is your proxy war. You have a problem with your wife.

I I, I would think that you are probably correct. I am worried that my wife is going to listen to her mother. Uh my my mother in law was able to raise four children in the midst through eighties and nineties, uh, without working SHE, I don't believe has ever worked a forty hour week job in her life SHE couple of days, you know, helping out at this mercy school couple of days here.

So what do you disagree on with your mother in law? What do you want your wife to do? Stay home .

well well yes basically all of the uh, advice that she's giving involved things around we had two children and sick and it's comments along the line of you know when both the kids are out of daycare, my wife works as a daycare well um when the kids are out of day care, uh, you can leave that job and just teach music lessons. I make sixty an hour, teach music lessons and that's great but that doesn't make up for the income that we need in .

order to believe okay okay here's think James, who who I have the greatest mother in all, who's ever lived, she's amazing. And I expect my mother in law to give the advice that he sees fit for how he wants the world to work. I I acknowledge that too.

But when IT comes to the life that me and my wife have to build for ourselves, SHE doesn't get to vote. And so your mother in the conservatives, he wants good for her. But also, it's amazing she's not the problem here. The problem here is, is you and your wife not on the same page?

And so IT doesn't IT .

doesn't matter what you're really not saying. IT matters that you look at your wife and your wife says, hey, I want to stay home and you say we can't afford to do that or we can. But here's what's gonna. You have to sell the car. We can't live in this particular house on this .

particular yeah. And at this point, we're having to have this conversation about every sixty nine months or so. And I tried showing my wife the math and that so James.

hearing your life wants to stay home, if he could have her way, SHE would stay home. Is that true?

I think that he gets the impression that he is working to pay for daycare and nothing out, and that once the children are out of day care, that that need might disappear.

And then SHE wants to stay home. I think so I think .

part of IT may be a bye product to that, the home environment that he was raised in. So SHE has seen at work, but that I don't think is realistic or sustainable.

I want you to reverse engineer your's dream that you decide together and that might mean OK. Here's the math of IT. We can do this right now. Here's why.

But if SHE says, hey, my dream is really, I want to stay home and you want to support that dream, then you go, let's do the budget. What's you gonna take, okay. Need to do this many more music lessons.

We need to do this. We need to cut our lifestyle by this to get a financial place in order to do this. So I think she's the ww, you're the how and you going.

We have no way to actually accomplish this. But then there's also the part of you don't want this to happen right now. So this is really like john said, this is between you and your wife.

He wants to stay home. You don't want her to stay home. And the mother and line out of.

yeah you keep crafting all these stories and imaginations like, well, it's ably because of this and maybe doesn't matter, just forget all the story parts to sit down and look at that woman that you made humans with. Look at the woman that you said I do till death he was part like, what kind of life we want to have, what we want this house to feel like when we get home every day?

How much sure you make in a year? James, just just you.

just myself, about sixty thousand.

And that, are you doing music lessons full time?

No mother know.

okay. What are .

you for .

time? Media.

okay. So I think we also need to go, okay, if this is in the future, my wife's staying home, we're going to be a one income family. What changes do I need to make? What education do I need to get? What career moves do I need to make in order to sustain a good life for my family? And that's the part that anything scares you, is this involves you having to change to.

or at least IT involves .

you'll having to have a truthful conversation about, hey, what I want, what do I really? I really want to work at this job. I love my nonprofit work.

And I know I make half of what I could make them in in for profit world, but I feel value in love here. And then your wife looks across the table and says, I really want to stay home with their kids. I see what happens in daycares.

I want to be with our kids. Okay, now we have a desires chAllenge. Both of us would be an honest, both of us on the table.

Now IT is going to look at the math is not care about what we want. Math is just math. So it's at the math problem we have here. And maybe it's for three years, i'm gona stay at this non on profit, but i'm going to work in extra jobs so that you can stay home because I know that's important.

You and maybe it's you know not for three years, i'm going to keep working at daycare because at least I get to see the kids half the day. And we're not netting a lot of new income. But this mission that you're called to IT this non profit is really important.

But now you all are actually talking subsidiary ly. You're being honest with one another and you're putting your hearts and minds and souls on the table like you promise each other you would at your wedding and your mother and all doesn't get a vote. But right now, when your wife says, when my mom says that that's her knowing if I SHE just tells you what he wants, you're gna blow buyer with a spread sheet. And when your wife says something and you go, well, I just your mother and this thing that you not being able to say, I really love my work IT means something to me do you get what i'm saying this just take mother a lot of the equation. Let just talk .

directly with your wife. Is that possible?

Yeah yeah most of the time you sound like a um actually said of, I like nebo, you still like spread sheet guy. You can pull up a spread sheet and you can make the math work or you can be real honest about IT not working only to sit down your wife and talk about emotions and feelings which maybe a scary thing. Here's how I feel about this.

Here's what I want. I feel like your mother in laws, a seat at our table, dinner table. I feel like your mom as a seat in our bedroom.

I don't want, and here anymore, I wanted to be us. What world do we want to create? Thank you so much for the call. My brother, this is the range show.

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Live from the headquarters of rainy solutions. It's the rams y show where we help people with their finances and getting out of debt help people do work they love, and we help people with their relationships and mental and emotional. I'm join alone to joint by George camel.

We are taking your calls live. A triple, eight, eight, two, five, five, two to five. Let's go to british columbia, canada, and talk to alison. Hey, Allison, what's up?

Hi, I have a quick question for you guys, and I might not be a short answer, but let IT .

rip IT.

I never is right. So my husband, I have about three point two million dollars worth of get total. And most of that is in our business, but some of that is personal. And i'm just wondering, is IT Better to focus on personal debt before your business debt?

I have a first named danny, and he can help you change your identity.

I think is Alice and Alice and here's I like a the first one to tell you this. That's all personal. Det, yeah, you guys signed the dotted line. There's no like, magic businessman who gets to take the brunt of this.

Yeah.

that's there. What's this dead? What's the business?

So it's a medical practice that I have been. okay.

Are your physicians and he is .

I am more than office manager. So how are you .

are working through IT? Are you making enough to pay your bills? Or you're working to pay this thing off the business.

working like we got a hundred percent fully finance from the bank. So we do have a big loan for them, but we are able to make .

payment s onder ing.

What's the number of dead .

on that total payment every month on .

three point two million? What are you paying to lenders every month total?

Oh, I think it's around thirty .

k and what is .

what is the practice bringing in between you two and profit? So our profit .

at the end likely only owned for about two to three years. That the process every year that we ve gotten is about two hundred and fifty three hundred. And that's, after all, all the bills, all the loans, staff costs, everything is all paid.

So you guys are essentially your growth income as a household is two fifty three hundred yeah but then we to make all the .

day you're take home.

but that's not what we take home in our personal count. We repair ourselves as contractors and so we only pair selves about twelve grand month.

Okay, that's my are you saying your profits are after making the thirteen thousand dollar monthly payment? yes. Okay, okay. So how many debts are there total if you split everything out?

So for our business there, even I split IT up this because they're in effort account of their also tacked differently. But yes, this is all all kind of one number. But for the business, IT has two point six million dollars worth of debt and then the rest of our debt is all personal.

okay. So what is the other six hundred?

So for the personal stuff. So I have been because he's a position on, and he graduated probably five, six years ago from school. He has three hundred k worth of student loans, but he has to play .

back still .

OK and then we have twenty k for our car um to fifteen for house is still low and then I have fork from um for my schooling as well.

Okay, so your question is what's the best way to tackle all of this?

Yeah like where where do I start? Is IT more important to scotland? Al, stuff for business stuff. I know it's just to kind of tackle everything he wants to be can. But well.

I mean, just based on the sheer numbers, if you just do the debt snowball, that would be your student loan first, then the car alone, then his student loans, then the business dead, and then the mortgage would come later.

Okay, so mortgage is always last.

then the mortgage is a baby step six item. So you can consider this kind of a consumer debt. I mean, two point six million that's trump ing all these other debts.

It's gonna take a while to pay this off. yeah. So my guesses you probably have the mortgage knocked out by the time the business stead is knocked out. I'm hoping you guys continue to make more, take home more and use more to tackle the debt. Because right now with my question, you bring in home one hundred fifty grand a year.

You paying each twelve each, each of you twelve grand a month or just as a family. You are taking on twelve grand .

a month as a family. So we we do sport income OK um because I managed the not a practice and he physically .

works in the practice.

okay, that we just .

pair so from each OK 说 你怎么说。 So is his reimbursement ment captain in canada?

I'm not really sure that's a good question though. I know that we can claim capital games, but that only comes like if we ever sell. Yeah.

I am talking about i'm talking about like because of the medical system you'll have in canada. Is there a cap on what he can charge per procedure or which procedure he can do or how many patients he can have work on sundays? I've heard there's a cap for physicians, and after you make a certain amount of money, physicians just take the next four months off because they can't make any more money.

I'm not really sure how that all works.

I'll in the united states medical practice, I would tell you there's what you'll need to earn more money. Yes, because paying off two point six million dollars for two hundred thousand dollars, that's going take you forever.

Yes.

right? What's that thirteen years like you have enough to make more money and all, all their nurses are going to want raises like everything's going to go up, right? And so like that's expensive. I just do not know if you can do that. Canada.

well, we just hold that interest rates go down and so we pay less interest on our own.

Oh, sister, you you have an adjustable right loan on the thing.

Um yeah.

we do in canada that every five years they are just right.

I think I think it's every five years 加。

That's not on mortgage.

That's on all loans, not on all of them. That's only .

with the business .

which is which the at the bullers spad.

Here's some basic math. The business one you pay two hundred and sixty grand year IT would still take ten years. That's two hundred and sixty grain of extra money beyond all of your bills that you can throw the business that.

So that's why we're saying we need to drastically get our income up. I'm guessing there's no way to get out of this. Like meaning, if you sold the practice, you're going to lose the to the tone of a million box and guessing.

yeah yes.

there is only one way out there and that's to increase income and decrease expenses both in the business and in your personal life. OK, which means vacations are off the table, were not getting any more. Colum, you may want to sell the car downgrade truth. Ly, it's such a small percentage this dead.

I would just pay IT off and keep the car. He's working saturdays and probably being only doctors office sundays for a half day on sunday. Like like there's just not a way you would just dug yourself a humongous hole. And so you have to just get find a way to get a big shovel.

Yeah, yeah. We'd have to try to find another doctor to higher and work with a part time or something like that potentially.

but you got to make sure that work because that doctors gna come in. They need to have something to salary, right? So he's going to, she's going to have to earn beyond their weight, right?

Yes, they need to bring in six hundred grand a year to get paid three underground year.

right? And then maybe that you'll do with one less nurse and u and or your husband has to pick up some administrative duties that most fancy physicians just, just pn off on their nurses. But here's what I would do in order number one, and I orge said I would split off the personal stuff.

What's our take home? We're making a hundred and forty grand a year. We're going to pay off our consumer debt and we're going to hammer the student one when IT comes to the business. And i'd find out what is your cap in the medical system that you guys find yourself in canada. And then i'd figure out ways to increase drastically the income of these breakers.

H, I couldn't sleep with that much, dad. John, i'm so sorry else, and I hope you guys get out of this unscared.

This is the show. This show is sponsored by Better help. This month is all about gratitude, and most of us have people in our lives who are grateful for.

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Hey, guys, is really. And guess what, it's my favorite time of year. The lights, the music, the 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 we'll always remember.

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Well, come back to the rain you show. I'm john the lonely. Lets go out to O. M, joined by George camel.

Thanks john. I'm here too.

Happy to help. I felt you kick me under the .

letter to be a blessing.

I never know what that means. It's going to. So I talked to air. What's up? Air.

good afternoon, and I hope everyone is doing well.

We are running to m here called the podcast youtube show and doing great.

Uh can be bad. Thank you so much.

So from .

so fun fact, I heard about you guys back in my teen years twenty twelve, heard all about the baby steps and a from years on, i've been on and off, on and off. And I hate to say I haven't been really committed to the the whole thing IT. Wasn't until this year when I almost got evicted that I will evicted from my appointed, that I decided, yeah, I need to change.

I need to be dedicated. I need to be the vote. So I am for real this time, going to the seven baby steps as we speak and drink .

in the cool late. Finally.

yeah, i've been completed. Baby step won. I have a dollars.

Curly, say the, uh, as of less, we got paid off the only that ever head, which is my middle ill. And i'm curly ready to start, baby. Step three.

And this is where my question comes in the play. So I didn't a little research about where to put that thousand dollars I have. And two things keeps pop enough.

One is a money market account and the other is a high yal service account. Good reason my question. So my question is which of the two overall would be the Better choice for me, as well as what situation would one be Better than the other?

I'll tell you what I do. And most folks out there fallowing the rams y plan, the remarkably similar the money market verse, the higher savings. The money market may have an extra benefit, like you can write checks out of IT.

IT might come with a debit card. But outside of that, there are savings account. And so I I have a high yld saving account and know you're going to get some still really and interest rates talking over four percent with some of the good ones out there.

And that will help you your emergency fund stay liquid, grow at th Epace o f i nflation a nd i s t here t o p rotect y ou. IT is insurance. It's not investments. So we're not trying to make money off this thing, but we also want to keep to somewhere safe that fdc insured doesn't have any minimum baLance and monthly fees and all of that. So those are the boxes you wanted check when IT comes to a good higher eld savings.

okay.

but also it's a thousand box, man, so you can drop in a local credit union like don't step over dollars to pick up a nickles, as my friendly north says.

Like you'll go chase in the next point, one percent more if I move IT here. So I would just choose one and .

stick with that over complications gonna. Your enemy at this point is keeping simple, man.

right? So so which comes to another thing is very like any place that could look at to see like which will be the most beneficial place to put the thousand dollars. Because the one I can, the banker clear, have I work with U.

S. A, been there for like over years or since I joined the military, and they do this thing where it's like a pointed percent. So if I leave that .

they are terrible, you can do Better. So there's a baLance here. And so we've got a great partner called fair wins.

If you ve got a fair wins, don't orgues slash ramsey. They've got a bundle just for our rami listeners. I've got a partner on my youtube channel called laurel road.

You can sign up a oro road dog comes George. That's the one that i'm using. John and jane and Rachel, they're probably all using different ones. But the key here is you wanted to be fdc insured with a minimum to no fees and you can get that money easily.

And probably a good is a good question you might ask is yes, georgian I both play are um emergency funds into online higher savings accounts. Pretty old school, I like to go to my local bank. I still like a brick motor like bank from my house stuff, but I do have my emergency fund in a higher savings account.

okay. And the reason .

there are simple, they have less overhead because they're online. They don't have all the brick mortar ers. They don't to covers many bills and hire as many people so they can pass on their savings to you in the form of a higher interest rate.

But me, as my wife says, being born in the wrong century, I still like to shake the hands of my banker. I want to see their faith.

So if I have both, I want a bank with a local bank for my checking account and for my high hold savings. I'm fine putting that online knowing that i'll touch IT know once or twice a year.

Okay, it's interesting that you say that because I do have two banks. I have one bank for like general purpose. My second bank were again after my family does is at and I was also thinking of looking for a third one to take my thousand dollars and you .

going to get too complicated many yeah you're going to be like triple stamp in a double stamp, just a checking .

account with a good local bank of credit unions and great option. And then for your emergency fund or you short term savings, we will call IT one to three or four years a high iee savings account with a great online institutions. I mean.

credit unions can sometimes have great, great, amazing.

So hey, can you me favorite first.

this is kind of been prompted in front of, I don't know, several million people. You cool.

Yeah, that's fine.

Will you do like an improved to death fy scream? We count down.

Okay, you just .

you paid off for your depth, right? How much .

dead was IT?

How much IT was around five hundred box? The medical bill?

You you owed five hundred books.

This along there is a merger cy .

situation no, that that's that's the smallest debt i've ever heard paid off. That's amazing.

This could be a world record smallest death free screen ever. How long did you have the dead for?

Um oh my goodness. Um i've had this sense. I want to say december, if not january.

Wow, don't sky right? So eric um making one hundred million dollars paid off his debt of five hundred box and ah let's take you one month.

Uh IT is .

excEllent count down due to dead free .

screen mark down.

That's right.

When everything .

we celebrate, we ceb ate to big things, and we will celebrate the five hundred dollars t free screen. Freedom, freedom, freedom, right?

And IT comes to with a promise. You've got a promise not to go and to consumer .

dead ever again.

promise in the ramsey plan. Now, after ignoring IT for twelve years, and it's about to change your lifetime, I want to set you up for freedom. We're going to hook you up with my book breaking free from broke as well as a year of every dollar premiums s you can budget your way to the emergency fund and investing in everything beyond.

George, how many people do you see get to the stage and begin to try to, over sophisticated things.

the amount of complication we try to do? Because IT seems too simple. Well, I know it's gotta be more complicated to be smart and efficient and great and i'm going, no, if you look at dave ramsey, who has more he has enough wealth to, you know, feed my family for seventeen thousand generations.

He owns mutual funds in real state. He doesn't have a cyp to wallet. He doesn't have seventeen offshore accounts.

He doesn't make IT overcomplicated. And that's what I found. It's the people that don't have wealth one overcomplicated. The ones that do have a dirty little secret where they go yeah, I just I have a savings account. I have money in the bank, I invest in the stock market I own paid for real state.

And it's always amazing to me that when you get around those people, they have a different energy about them. You're expecting more. You're like, not of way.

There is a secret. No, but it's this. It's just like I give a crap, I took IT apart and I ebay all the parts.

Like I like if you're round, David, like when we go hang out, when we go to his spin, we are out traveling. There's just an air of like piano care and it's because i've just in a complicated life, right? I'm i'm going to do the things I got to do to make things as simple as possible. And you and I both have been hit up by the by the instagram finances you off three point two percent margins and can get four .

point eight percent. And then a puppy stops lagging its tail .

exactly .

h it's exhaust.

get the whole life policy.

And you can borrow against IT. And you need sixteen credit cards to maximize the rewards. And i'm going listening to yourself talk, if you like, a crazy person trying to maximize your freak rewards to get an extra one percent arbitrage to pay for that first class flights. You can take a picture of IT and posted to your instagram.

It's exhAusting. Ah you know I have I have a an olympic rustling mat in my living room that I just arrestable with my daughter. I'd rather spend my energy you on that that's a flex, right? Like, hey, wife, let's go for like IT to our walk tonight and leave the kids rather fair.

Just just been time thought.

what if you could build a life that didn't exhaust you to wake up part, keep IT simple and saw for peace? People will be right back.

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Welcome back to the red show. I'm john only joined by George Campbell. Triple ate eight, two, five, five, two, two, five.

The rain show question of the day, the spicy once brought you by y rifer. Y rifer refinances defaulted private student loans, which are different than federal student loans. Why refine refinances your defaulted private student loans and build a custom loan based on your ability to pay?

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Today's question comes from meg in maine. I've been an avid follower for twenty years and i'm debt free. However, i'm facing a bit of a chAllenge and love to get your advice.

I travel quite a bit now that i'm said I retired and i've been considering getting a travel points credit card. My plan is to charge my travel expenses in large purchases, then pay them off immediately. I feel discipline enough to handle this without caring any debt, plus the idea of earning points are not Carrying so much cash is appealing.

But here's the kicker. Despite having a created score of va thirty three, i've been turned down for several credit cards since. Haven't used one in many years. Do you have any suggestions on how to approach the situation or any alternatives I should consider?

I think you should get a credit card for points if you hate widows, orphans and those .

who are struggling to paint the so I remember .

I was um is not for rams. I was moving across. I was moving and taking a long move and the plate the business I was moving would pay reivers my move as a whole family when the bigger monster trucks, but I had to run IT.

So I thought, I mean, i'm going to open up a credit card and with points on IT, and i'll make just three points because i'm just going to turn around and this new company, that working force, going to remembrance me for the move. So I did that and I remember getting a whole bunch of free points for opening the card, and then I got to get more points for this massive amount of money I spent right out the gate to move my whole family. And then I was a literally driving me on the road.

And I remember thinking, wait minute, the critical companies, not my friend, and the airline companies, not my friend. Like, you're not hooking me up. Like, bro, you spit money with us.

We're going to hook you up. Somebodys paying for this flight and somebodys paying for this hotel days. And when I dug into that win, to my horror, I realized, oh, it's not the companies. It's not the credit card companies, not the airline, is not the hotels that are paying for these rooms.

It's the single mom with three kids who just left an abusive relationship, who is struggling to feed her kids, who puts this credit card in and then her boss cuts her hours and SHE gets a fifty dollar late fee or thirty nine dollar late fee, or her a goes from thirteen to twenty nine percent in one month she's paying from a flight. Or the single dad, his wife just passed away. And like their scrambling, scrambling, he opens up a credit out at a desperation, and then he misses a payment and IT balloons on that.

Guys paying for my flights and IT all the sudden got very growth for me. Like, I don't want to be a part of this system. I travel you and I travel a lot. I travel all the time, all the time. I'd rather pay from on flights or work out of business arrangement with the companies, pay me to come speak for um than ever think I have some single mom who can put you on the table, pay my bills. And I just got growth for me real fast.

Yeah I mean.

there's a some research on this.

There's a mortal argument to be made yet my book breaking free from broke here's the quote from the book, a twenty twenty three studies by the federal reserve they set out to determine who pays for these credit. Ard awards and the results to expect our alarming in the report, the fed said we estimate an aggregate annual redistribution of fifteen billion dollars from less to more educated, from the poor to Richard, and from high to low minority areas, widening existing disparities.

Simple and years IT gets worse, john, as I dug into IT families with households incomes below forty grand are less likely to even qualify for these rewards, but they're more likely to pay late fees and additional interest. The family's making a hundred grand or more obviously more likely to have access to these reward cards and less likely to pay late these an interest. So it's not saying you're a bad person if you use the the rewards is only more argument to take john a Better person than you. I mean, no 的， john sleep Better at .

night because of IT. yeah.

And can you play the game? sure. Is IT worth the two percent? Let's see you spend twenty five grand. I mean.

is that really worth putting huge flat cash back, right? Cash back.

And they go well at points. Now, Johnson cash, what's one hundred thousand points? I don't it's like chucky cheese. You spend one hundred, one hundred dollars at chucky gees .

to get a thing that's actually what of seven dollars.

right? So you get a like a cool monogram blue speaker and pack a gum like I spent twenty bugs from .

me furbished new baLances, right?

So cannot be done. Can you be super discipline and beat the sist? sure. I don't think it's worth the brain calories and the energy and the money spent to try to do IT personally.

And if if you I mean chez, I want to make IT a moral issue, but I I want to call these programs to task, if you like, the idea of somebodies of helping redistributed from the least of these in our communities to pay for your flights and hotels, not lights out for me. George just got gross.

And again, we can line up the things that I need to work on and not a Better person than anybody but this one particular thing this is just a hot button issue with me yeah um the the banks aren't your friends. The credit companies aren't your friends. The airline companies are not your friends. The running business is they would not be giving you these flights if they if they weren't making that money up somewhere else.

right? There's an there's an old saying in the internet world, if you get online and you log in and have to put your your email addressing for free and you get a product for free, you're the your, your, you're the product, right? You they want you, right? So is similarly asking that next layer question, who's paying for these flights actually? Who's paying for the advantage? I just think I got because they're not when you think about this.

let's say you do spend twenty five thousand years on travel. I think we'd all agree that's a that's someone is traveling a lot with twenty five grand a year and two percent five hundred books. You could put forty bucks in a savings account every month and give yourself the rewards.

Yeah so you're never gonna convince me because of humans being emotional creatures, that psychologically you're not going to spend five hundred hundred dollars more on that car over the course of a year because you're going well. I'll get some points. Might as well get the nice to .

flight well and if you if you fly, if you fly southwest american, fly this comes all time. You flight points for participant. I'm OK with that, right? Because they're marking up that your ticket and they're .

going to give you piece as fine five, five.

twenty five times of southwest, i'll get a free flight. It's the next level of, hey, my gasoline, my snickers bar, my whatever, your haircuts.

which is to get some serious cash back. Instead here, my haircuts, I pay cash and I get a discount.

I do because we used to say barberry is a cash exactly .

so much while i'm making more by paying cash, then by swiping my card, which by the way, hurts the small business owner because they've got now pay the three percent fee or pass IT on to you all to get my two percent cash back. So either way, you are not the one winning. It's the card processing companies.

It's VISA, it's master card, it's M X, it's discover, it's southwest, it's delta. And these are not evil companies. This is just how to do business.

And you need to understand how they're marketing to. There is a reason always offering you hey, john, you're so wonderful. Here's more line of credit.

We're going to give you an extra five thousand dollars in credit that you can spend. You're telling me psychologically, I don't get the dopamine hit that tells me I am winning. The banks love me.

Yeah, I love you. So I I don't know. As for me, in my house we saw for peace and if I can opt out of the system is truly .

how we let people think. Well, they just have to say that on air, dave, secretly, no, you can check his wallet. You can check any ever.

There is not a single credit card to be found. And it's not because we're scared of day finding out. It's because we truly have no system.

Once we start to fall on the ramp plan, we're like, oh, we can just use our own money and have freedom control over our life. great. Sign me up.

Screw the rewards. It's just a word t scree rewards. I'd like the one that says go fund yourself that when i'm still trying to get as part of rams emerge.

if I don't .

know that going to go for IT.

he could I .

like that that here a lot of, imagine the amErica I go funder, go fund your own retirement, go fund your own credit or rewards. And amErica would be a Better place instead of making banks and lenders.

Richard, if you made a sure that said, go fund yourself and I I would be a america, buy those teachers. This is the rainy show will be right back.

Well, it's decision time again every year during open and roman, 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 programme like medicaid, you don't have to figure this out alone. We have reliable folks we trust to help you get the right coverage for whatever stage eran go to anzy solutions, not come flash health dash coverage.

Well, come back to the ramps you show triple ate, eight, two, five, five, two to five. I'm john, only joined by George camel. This is the rather thing I think I got going on to my life right now. Me and day, rami, launching a brand new tour this spring called the money and relationships tour. It's gonna .

gone with this. So this is a very different event and we've ever done because there's no like talks. There's no like scripts you guys you're going to rip based on what the audience wants to hear. Is that right?

IT will not be yeah will be like two one hour lectures. IT will be chaos. It'll be a blast um IT will yeah the audience is to vote on what we talk about. And David, I will have spent the last six months like researching and digg into these topics, and that will spread amounts i'll pick from this menu. What do you want to talk about?

I think dave is accidentally starting an improved troop. I never thought this day would come. This is amazing. This is as closest you're going to see to dave doing improve. So you guys ahead up to six city.

So in twenty third atlantic, twenty fifth phenix, may fifth four worth forward texas, texas, you've got to show up for me. May th in the kenza city, may night were going to be there alive. And we talk about relationship dynamics, your marriage, your kids, budgeting, financial goals, whatever.

You got a new, your voice will drive the night. Get your tickets at relate rainy solutions dot com slash tour, by the way, great Christmas gifts rams y solutions dot com slash tor get that. I also tell to me on the audience, I this little bit, I don't get nervous, been on stage with day for two and hours and let you rip, probably pocket up. Yeah.

I might show up to like the land one, just to see what what the heck happens.

Bb, dies.

And h.

that would be hilarious, but we'd all find out that we actually have a pernice spirit gone.

Thank you. Oh.

looks good. I have been shaved in seven months. This is all I got.

scally. It's a four clock shadow.

Could even make dow on the street to nash will and talk to Michael.

what's up Michael?

We're just run in the game out here. What's up me and how can .

I help already so uh get a question. Um so mean my wife has uh, finally get to the point to whether we paid off over that and we say that a pretty good man of money and um we have to came into a pretty much money as well on top of that and we need to put a big now payment on a house. Now unfortunately, we I didn't want to be in the scenario to both of our income to pay the mortgage.

And um i'm big ga I have had so um we need three hundred thousand dollars in that now on a home for thirty years and that I did paid my my rate down two five percent and I set up paid off everything. I have ten thousand dollars into a margency fan. I have six thousand six months of patients ready for reading income um and right now is currently only taking life. We can always money to pay our bills and we grow the anyways twenty eight to nine nine. So my question is, yes, I know I went with a thirty year note um would would be Better disappear possible payments or literally take everything I get and just keep grow opening and learn til likely to paid off.

So you said your bills are how much per month .

total expenses? three? Thirty, thirty five hundred. okay.

So you ve got plenty of margin to the tune of five grand a months. You could just chunk at the mortgage. And then you how much you said you came into some money, how much is sitting there outside of your emergency fund that you could .

use outside of my modesty fan, I have, uh, well, I put everything in the week ago dies. I get ten of them to emerge cline and I have, uh, just over twenty two, uh, just for six months of the everything.

I'm all emergency. So it's your emergency from .

the thirty well .

that we going to say I got ten thousand for you like no vehicle stuff like that they took out. Um would that be in said so yeah we have thirty two thousand dollars and also have um just like vacation money that we could end. We have closed the background right now just so so we're not going to touch emergency fund.

We're not going to touch the vacation money. Keep your thinking funds happening as they should, but all of your future income that five grand a months I would be throwing at the mortgage to my friend, how quickly give you you could pay that off, I would go punch the numbers and mortgage paye s calculator rank solutions dot com and see for yourself how quickly you can pay off three hundred grand making an extra five thousand dollar payment every month it'll blow your mind, you'll be done. And probably, I guess, I mean years sixty grand a year on top, your Normal mortgage payment, probably four years inside author.

yeah, everybody that we look into that, I just didn't know if I would be smarter to perceive that money towards more years and in the best half the other money.

something else you should be investing already. Are you investing fifteen percent of your income?

No, we had. No, I like say we we were. So when I get in my life, he had one hundred thousand dollars in bad and IT was all school that she's a school teacher and ah I was big about getting that done, getting that ever here. And we've spent the last three years just hammering and all .

of our big go away what your house and what your house well before this year.

IT was one hundred twenty. Now it's nine six because of became. I went to some O T R A local.

Ok, can can I here's how I hear you asking this question. Like you're in the studio and you're standing with me and George, and you just have your head hanging in shame. Give me a huge favorite man.

Like georgian. I, would we sign off on a thirty year mortgage now? I do fifteen, so we recommend you paid off all your deaths.

You didn't go crazy about a three hundred thousand million house. Georgian, I both live in nature. We both recently bought places.

I don't know where you've a three hundred a thousand house, but god blush you and your fAiling your grandkids that's amazing. You ve got yourself some land. You've paid off all of your deaths, including the hundred grand, and your wife came here. You say, this study, you all are crushing IT you doing great.

And how old are you too? How old are you too?

I am very four. SHE started six.

Oh my god, this. So can I do some fun math for you, Michael? Okay, so let's say you you start investing now and you do fifteen percent of your income. That's about twelve hundred box every month going into retirement accounts. I assume you have one through your employer.

I do good.

So we will travel away twelve hundred box into these tax events, retirement accounts and twenty three years that puts you at fifty, correct?

You're going to have .

probably one point four million dollars in that one account. And by the way, twenty three years from now, year mortgage payment has been gone for like twenty years, which means you probably increase your investing and you've had freedom for the last, you know, two decades of your life .

and your neighbor's property and the property next to that one in the property.

Do you see how IT changes your options? And so you set yourself up for that kind of future because of the hustle and grind you just spent the last few years doing. So I know you're tired, you're worn out. You like, what do I do now? We got the money.

Think you didn't wrong. I do seventeen things once.

Just follow these steps. Met fifteen percent of your income to retirement. Beyond that, throw at the mortgage and let's be done with a set a goal for, let's say, five years.

And if you like me and I, I have like a kind of them seen allergy to owing somebody something. I just, I D hate people telling what to do, and I hate owing .

somebody. Hate, hate.

hate. yeah. So set down of your life. And okay, it's going to cost us three years of some B A N A N A S living, but or less to do this and get the thing over with, all right, thirty eight years old, that's fine, but you have to work weekend sa whatever and we're going to keep we're gona knowledge st thing and knowledge st to what's gone if IT goes beyond three years and you know, I can't figure out what to do that, just x hail and just say, okay, when i'm forty i'm going to have a paid off house and make piece with yourself and go hunt and tomorrow morning when the season opens like you know, i'm saying like you have done such a good job, man, you should be proud of yourself.

Yeah we so much as he is, he has a much like me and every time I do something for unting on anything, I mean money, anything. Why about life and the haaga that i've not take my room before.

I can, will, don't do that, enjoy your life and have a good time, and also get this house paid off for revolving. The show on youtube podcasts is about to end. Head over to the ramsey network APP and the party will continue. Go to the show notes, and you can watch the rest of the shown up free poison.

Hey, you're still here. What are you doing? You do know that the rest of today show is playing right now over on the rainy network APP, right? All you got to do to finish the episode is search ramsey network in the APP store, google play store, or just click the link in the show notes to download the APP or free.

Yep, you heard me right for free. Then right there in the homework reen. You can watch the rest of today is show about a thing about them.

All right? I'm get here. enjoy. We're see on the APP.