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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollars Car Rental Studios. It's the Dave Ramsey Show or that is dumb. Cash is king in the paid off home mortgage has taken the place of the BMW as the status symbol of choice for slogan. Ramsey Personality is my co-host today on the show, a phone number where we talk with you about your life and your money is triple eight eight two five five two two five.

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That's Triple eight eight two five five two two five.

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Nathan starts off this hour in Miami, Florida. Hi, Nathan. Welcome to the show. Hi, Dave, how are you? Better than I deserve. Sir, how can we help? Well, about four months ago, my wife let me know that she wanted to retire early. So we started putting the plan together. We so far paid off all our debt except our house good. Which we just refinanced to a 15 year to get the interest rate down.

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Good. Where we're struggling is how do we if we retire early, how do we make money or have income in that gap between when we can withdraw from Iraq and our 401k is you know, that's called bridge investing, Chris.

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Yeah, Nathan, I actually I talk about that in my book Everyday Millionaires. It's called a bridge account. And this is where you are staying focused and you're attacking and paying extra in the home to to get that out of your life. But then you're also starting to build, invest and put money over here in this bridge account that will essentially become your paycheck, that will become your source of income in between those gap years before you're 59 and a half.

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And so how old are you and your wife right now?

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I'm thirty seven. My wife's forty two. That's fantastic. And so she wants to retire in three years. She wants to retire in the 40s, 50s, so we're going to do that as early as possible. OK, fantastic. So how much do you have left on the house?

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We have two hundred and twenty three thousand. OK, and you got your household income is how much? 240000.

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OK, so looking at this, you guys can begin to see and say, you know what, we just refinanced to a 15, let's attack, get this house paid off and then let's turn our attention to this bridge account. You guys have bought enough time in more than enough means to be able to do that. Absolutely. And I don't know. I just wanted to make sure that, you know, you're not putting too much towards the mortgage.

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Is there such a thing as too much talk know?

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Because if the house is paid off, then you've lowered your overhead and it sure doesn't take you as much to retire. The bridge account doesn't have to be as big then to be able to cover you. And for that 10 year gap basically is roughly what it's going to end up being. Now, let me get this straight.

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She's retiring. You're not. Or both of you retiring. That's up in the air still. OK, how much is in your nest egg? And your retirement accounts? Let's see, we got a total across all of our retirement accounts, about 630000. OK. Right. And out of the 240000 lower income, who earns what? She was probably 70 percent of that. 110, 140. Right around there, yeah, all right. Hey, what does she do that she hates so bad?

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He is director of strategic initiatives. OK. All right, well, there's a couple of things, I mean, number one, that's how you do it. The answer to your question is the not having a house payment would be key to pulling this off. And then the second piece of it is to have some money and investments that are not retirement investments, some just some good mutual funds. And you had a pile of money there. You got a couple of hundred thousand bucks in that, and you got this couple hundred thousand dollar house paid for.

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You probably can pull off what you're talking about at that point.

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It is. Highly unusual in our study of millionaires and multimillionaires that we have, that I've worked with for 30 years and we just completed the largest study of millionaires a couple of years ago, ever done in North America, over 10000 of them studied.

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It's highly unusual for someone to earn zero money from age 45 on. People just generally need something to do with themselves. There's only so much fishing and golf you can do, you know, and they generally, what do you say, session? Yeah, whatever it is, I don't care.

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But I mean, whatever your fishing is, it's what you know.

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But mentally, we are designed to serve and the people that maybe she should burn up and maybe she'd been working 80 hour weeks for an ungrateful, publicly traded corporation that's eaten or eaten alive. I don't doubt that that's I wouldn't blame her. But to I seldom I always encourage someone to not have as their goal, doing nothing.

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People die young when they do nothing. We need purpose.

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We need something to set our hands to.

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And I don't care. Maybe maybe it's a ministry and she doesn't get paid for it. That's OK. But it again, it is highly unusual for someone in the data points that we know of. It's hard to think of someone that earned zero from 45 on.

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No, I agree. And even in my first book, they've retired, inspired. I talked about don't retire from something. Retire too. Yeah, right. Like get get to go do well. And if she's director of strategic initiatives, my gosh, there's enough stuff out there that needs some real strategy. She could consult or do some things on things that matter and that she cares about she has heart for.

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Yeah I'm not again I'm not saying that, but it's just high. In other words, the one of the set of assumptions you have to use is there's zero income coming in. Right. And that's a highly unusual assumption in this situation. Now, if you told me had six million in your retirement, you know, you don't have to worry about that. But you don't have a lot. You don't have a lot of money. I mean, you've got a great income, but 600 grand and still owe 150 on your house.

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Yeah, you're far from done, dude. You're far from done.

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Let me ask you this. Million dollars, how long could you sit still now? I have no intention.

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No, I know, but just push comes to shove. I will be here spreading hate and to listen, I'm not trying to get rid of you.

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I'm asking you, how long could you sit still?

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I couldn't because I. I would if I could have died twenty years ago. No, I know. I know. I had financial peace 20 years ago, but I enjoy helping people enjoy putting my hand on the plow and causing some good to happen. I get joy from that. And it's good psychological and spiritual income as well as creating an income.

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It's a bit of a scorecard. So and I can give more if I have more.

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Well, and that's the beauty of vacation too, because you give yourself a chance to be able to relax. Right. To then come back and bring more to what you have a heart for. Exactly.

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You know, so all that to say I'm not a proponent of doing nothing.

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Right. And I would say this for his wife to have that goal in that drive, that's a good thing. But I want you, Nathan, to have that high definition dream with your wife. I talk about that at my website. Chris Ogen, 360 Dotcom. Sit down and find out what's driving her. You know, is she sick of this job or does she have some things that she wants to do? And, you know, it's real good to get that clarification so you guys can get on the same page.

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Yeah. Yeah. Is I what I'm hearing and the reason it got this going, always listening. 42 and I want to retire about 45. And he just found this out. That sounds like she had a really hard year. Yeah. And I'm sick of this place because that's what it sounds like. No. So I want to be in a financial position to do anything you want. And then I want you to do something with your life, you know, just you have a better life.

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That's podium dot com.

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My co-host today on The Dave Ramsey Show, Ramsey personality, Kris Hogan is with me, number one, best selling author a couple of times over.

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Liberty is in Minneapolis. Hi, Liberty. How are you?

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Hello and good. Good. How can we help? I'm calling to get some guidance or if you could point in the right direction, my husband has just been diagnosed with terminal cancer and we're trying to hear we're trying to while we're praying for a miracle, where we're just trying to make sure we have everything prepared, we've we've lived frugally. We don't have any debt other than a mortgage. And but he's the sole income and he has a 401k and life insurance.

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And we're not sure what kind of things we need to take care of ahead of time. I don't know what kind of taxes come into play on those items. And for one case, obviously, in his name, I think I'm listed as a beneficiary. But yes, that's kind of the basics of where I'm at.

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I'm sorry, how old are you? And 41. How old is he? Forty two. Me? Huh? How long you guys been married? We just celebrated our 20th year. And when did they give you this diagnosis? End of May, beginning of June. Hmm. So you're going for a round of second opinions and third opinions, right? Now, we've kind of gone through that he's started chemo now he just finished his first round of chemo.

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So the goal is to just try to prolong his life as long as we can, as long as he can handle the chemo. What kind of cancer? Bile duct.

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Lost a friend of mine to that. Oh, OK. Well.

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What you're discovering is that one of the ways we negotiate our way through trauma is to have as many of our bases covered as possible in between cries.

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Right. And so, you know, your basics are that the life insurance proceeds are not taxable. They're tax free, the 401K, if you are the named beneficiary, can be rolled out to what's called an inherited IRA at that point.

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If you're the spouse, you may be able to just leave it into a 401k and not touch it. How much is in the 401k? Oh, I wish. I think it's around 100000. And how much is the life insurance? Three hundred and fifty thousand. OK, you have children. Two, yes. What, ages 18 and 14. How are they doing?

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Oh, they're having a hard time, but they're they're doing OK.

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Liberty, how are you doing? Depends on the day you ask me. I'm emotional, but I'm just trying to do what I can. He's he's having a hard time with treatment. So right now we're just kind of trying to keep him.

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Now, the crisis is the crisis of the moment, huh? OK. And you said he has the income. You do not, right? Correct. Yes. OK. All right. So several things and, you know, boxes to check. Number one, make sure that both of you have a will.

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Completed and I'll take care of that for you, will furnish you a free one from Mama Bear, Dotcom will take care of you. So Madisen, just start making a list because I'm getting ready to give her a bunch of free stuff.

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OK, get that done.

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We're going to have you sit with one of our coaches, our financial coaches in the area that's been trained by us to help you get some of the other stuff organized. OK, and that's at no cost as well. I'm going to take care of you, OK?

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Thank you very much.

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And do that now and then. Also, if a miracle doesn't come through, do it after as well, OK? OK, meet back with him again and let them walk you through all of this, OK? So how much do you own your home?

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I believe it's like one 18.

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OK. All right. And so you probably have already figured this out, but you have a new career in your future.

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Yeah. Yeah. And I'm actually in school. So what are you studying?

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Some court reporting. OK, is that what you plan to do now? Still, yes. OK.

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All right then you follow that through and that gets an income coming in. And your best case scenario is if you can create enough income to live on.

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Right, that's simple and not touch this 450, the 350, the 350 for sure in the 401k, but even the other 100, it sounds like it's a lot of money, but it'll be gone in an eye blink.

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Right. If you don't have a plan and it goes to two or three things.

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One is it goes to a slight bit of your income, not quite covering your expenses. And then you look up and it just got whittled away and you look up more than 100000 go, OK.

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The other place it can go to is Gref spending, spending to medicate.

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Like I met with one lady who ended up with only two closets full of shoes and wasn't even sure she bought shoes. And she's like, How did I do that? And I'm like, hey, we all go a little crazy in situations like this. She goes a little crazy. Yeah, a little crazy, but a lot of shoes. But, you know, we all do stuff like that to when our hearts are broken and money can end up getting woven into that.

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So you need a very detailed plan to give you guardrails.

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And so when the waves of emotion come of anger or whatever the waves are, that you've got some guardrails to keep you in the road, OK?

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And Liberty, you are going to feel like you are pouring out from all sides. You're pouring into your children. You're definitely pouring into your husband to support him and the situation. And you are quickly going to find that you are running low, young lady, emotionally and mentally. And so I want to encourage you to not isolate. I'm so proud of you for reaching out and calling, but I want you to plug into your church, get some people around you that you can talk to and be real about what it is you're feeling because you you matter in this situation, too, and your husband needs you presence of mind.

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He needs to feel that love from the last 20 years. And he needs to hear that your heart is broken. But he also needs to hear you all revisits the memories to pull out the photo albums and to look at some things you all have done and to talk openly and honestly as a family and talk about the love and talk about the things. But he's still here. And so I want you all to make sure that you're still here right now in that moment.

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So I plug into a good church and get a pastor in your corner. We're going to get a coach in your corner and we're going to get you hooked up with the oil company and they're going to furnish your wills for free. And you guys get those done. There's something about laying all that foundation that does give you a level of comfort. When you listen, you go, OK, I know I know what the plan is. He knows what the plan is.

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The kids know what the plan is. This is the plan. With an X number of months, I'm going to be working, making this amount of money and we're going to live on this amount of money. And then we're going to use the 100000 for final expenses.

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We're going to use it for a little pad between two to get our get back on our feet and those kinds of things to finish school, you know, and you're just going to lay out your plan and go, this is exactly what we're going to do. And then it's a battle plan because you're in a war camp and then you just execute the battle plan. And knowing that always in a war, people get wounded. And so you're there's always going to be hurt.

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It goes with the territory. I'm so sorry, baby girl.

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And you listen, hey, we're here. You call us any time. We're not going anywhere. And whoever's on the other end of this microphone, whether it's me or Chris or Dr. John or whoever is here, we'll help you. And Madison is going to pick up.

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We're going to get you with a coach and get the wills done. And if you don't have a good church you're plugged into, we'll hook you up with one in that area that we work with, with financial peace. And we're going to gather around you, kiddo. We'll walk with you. I love you, kiddo.

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You're going to be all right. This is the Dave Ramsey Show. You know, what angers me is folks are going through some really hard times, identity thieves are using every opportunity to prey on us. The scams are endless. You need to be prepared. Zanders I.D. theft protection is the only plan I have ever recommended. And I've looked at them all. They just do everything in a smarter, more affordable way. Look, most of these plans are just a bunch of hype, not Xander.

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That's why I recommend them to you. Call three five 642 82 or visit Zander Dotcom.

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In the lobby of Ramsey Solutions, right on the debt stage, Crystal is where the shock first of all, how are you? Hi, Dave. I'm doing great. How are you? Welcome. Welcome. Where do you live?

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I live in Boston, but I am a Southern girl and I have my parents here with me from Charlotte, North Carolina.

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All right. Very cool. Well, welcome to Nashville and here to do your debt free scream. I am.

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And very excited to do so. How much have you paid off? Two hundred thousand dollars. So how long did that take? Three years and two months. All right.

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And your range of income during that three years and two months started at about 115 and then wrapped up at 193. What do you do? I am an H.R. I started in house, H.R. at a biotech company, and then I switched jobs this past December into H.R. consulting me.

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And it worked. It works.

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Ding, ding. You're killing it. You are knocking it down, girl. Well done. Thank you. So 200 K in debt was for what?

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Student loans. Hello. Yes. Where did you go to school?

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So undergrad was at Georgetown University in D.C. and then I got my MBA at Duke.

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Oh, you don't choose cheap schools? No, although I sometimes I rethink it, but it not working itself out. Wow.

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That's very impressive pedigree there. Very well done. Good for you. Thank you.

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So your your MBA and your undergrad was in H.R., so my undergrad was actually finance and international business. OK, so investment banking for a little bit then also did non-profit before making the switch into H.R. after getting my MBA.

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Why do I have the feeling she could do anything. Yeah, she's a very focused young lady. Crystal, what did you learn throughout this debt attack? Oh, you know, I learned a lot.

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I would say the biggest thing was real resilience and knowing my wife and keeping my focus there, there was so many times where it got really difficult having to say no to myself and to my friends and the budgeting process. That was not fun.

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So what started you on this journey?

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So if we flashback to May 2016, when I graduated, I had my job lined up to start off in August.

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And as you know, they give you that six month grace period, which I feel like is a sham, but got the six month grace period and decided to take it as such, which was not smart. I took the summer off to hang out vacation, just chill out a bit. And as I got closer to that six months, I realized that I need to figure out what I was dealing with because I knew I still had undergrad loans in addition to my grad school loans.

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So I go through my email and I total up all of the numbers and the balances across private and federal loans and see that it's 200000 dollars.

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You would never totaled it before. No freakout. Exactly. So complete freak out. And I'm thinking everything from, OK, how am I going to pay this off? When am I ever going to be able to buy a house?

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Who's going to date somebody who has two hundred thousand dollars in debt and of major concern? Yes. And at some point during that freak out actually called my dad and he said something to the effect of, you know, you are were you are all you can do now is make a plan and make it happen.

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So very practical. Didn't make me feel good, but it was practical.

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And thankfully, around that same time, my church had announced Financial Peace University. So I enrolled there and that's how it all got started.

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Oh, wow. OK, good timing then. Yes, very much. Well done. Yeah.

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So I met your dad and mom at the break a minute ago and they seemed like really reasonable people, like smart people and all.

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So I imagine when your dad heard 200000 dollars, he was staying calm for you, but he probably went, oh, my God.

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So, yes, what's funny is I was if I'm being very honest, Dave, I was not only was I freaking out, but I was ashamed because I see myself as someone who typically has a handle on those type of things. And so I didn't tell him the number.

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Oh, I didn't tell either my parents the number until I was maybe, you know, maybe 40000 dollars out of completing it.

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So you were almost done before you went? Yeah, I didn't want to I didn't want to tell them. So I told them that it was a lot, but I didn't. But they didn't know how much it was.

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Yeah, a lot is a variable term. Yes, I love it.

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Oh, look at you. Wow. You know what that does in you know, to your credit, sometimes when you look at that and you go, I did not do that, that sense of shame does come.

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A sense of regret comes sometimes that paralyzes people.

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Yes, but to your credit, it caused you to bolt into action and like a no.

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Oh, no. Oh, not this girl.

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That's what you said. And, you know, you got a freakin finance degree. So the MBA. Yeah, well, the irony. Yeah, me too.

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I went and I went broke following that stuff. Yeah. So yeah that's. Oh man. That's amazing.

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I love the motivation. You had to talk. Lit up to two, just stared in the face, and I think I would love to hear your advice to people that are out there that are young or maybe not so young that are staring at that student loan debt. We've got 53 trillion dollars in student loan debt impact and 47 million Americans right now. I'm sorry. That's one point seven, one point seven trillion. I think it grew while you were talking, Crystal, what advice would you give to people out there that find themselves in that first step?

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It is definitely one step in front of the other. You can't elephants happen to be my favorite animal. You can't take a whole bite, but it's taking it one step at a time and just realizing, OK, it happened and how can you get organized and not just having a budget, but actually sticking to it. That was one of the most humbling aspects of it. There was one time where I recall I had figured out a way to get my grocery bill to only 100 dollars a month.

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Oh, and a lot of rice and beans.

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And so I am in the line and I purposefully, when I went to the grocery store, would not bring my debit card just just to prevent myself from spending more. I love to eat and I love to cook.

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So I'm in line and I remember the cashier ringing up everything and I might have been, I don't know, seven or ten bucks off. And so there's a line behind me and I have to say, I'm sorry, but can you take those items off?

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And so that was hard because I know in my bank account there's money. Yeah, but I was committed. And so to answer your question, Chris, I think it's, you know, one step in front of the other having a plan and actually sticking to it because it's so easy to make excuses or just quit midway through.

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Oh, that's a hundred dollars a month in groceries, girl. I mean, OK, tell me a meal. What were you eating. Oh, like, yes.

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So there was actually a farmer's market that was not too far from where I stayed walking distance so I didn't have to pay, you know, a cab or train ride to get there.

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And they would have a lot of produce. So I was a vegetarian a lot, a lot of potatoes. And so I could get like a bushel of stuff for like ten bucks. Yeah. And so I would just meal prep and that would be it for the for the week.

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I it's really good for you too. Yeah. I look at you very, very well done. Thank you all of you.

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I know your mom and dad are proud of you. That was incredible. One incredible thing. Thank you. Thanks.

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I mean, the degrees you got from the places you got them are incredible. What's more incredible is a story. Thank you. That power of resilience, the power of self-discipline. You apply those things you can as smart as you are, you will do anything you want to do. You are on fire and you are doing anything you want to do. I mean, you're making serious bank. Well done. Very, very well done. So who were your biggest cheerleaders?

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Oh, gosh, definitely not just my parents, but my family in general. We have a group, a family group. And so I would give them milestone updates. Sometimes that would be strategy solutions and all of that good stuff. And I would also say a couple of my really close girlfriends, too, who I traveled a lot with and ate out a lot with. So having to say no to them too. Sometimes it's hard when we wanted to hang out.

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So I would say those two groups were very helpful and were with me every step of the way.

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OK, so you said who's going to go out with somebody with two hundred thousand in debt? So now you're going out on a date and he sits down and he tells you he's got two hundred thousand in debt because he's gone.

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You guys go out of there now. Do you have a plan? That's the first question. Do you have a big income? That's right. I don't blame you. I love it.

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That's great. Well done, Crystal. Well, thank you. We've got a copy of Chris's book for you every day. Millionaires, no question that you will be one before we know it. Thank you. Have completely done everything.

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Perfectly well done. Two hundred thousand paid off in three years and two months. Make it one fifteen to one ninety three. Count it down.

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Let's hear a debt free scream three to one. I am debt free. Oh, graduation. Yes, this is how it's done. Well, I'm telling you, this is not a generation of victims know they've been painted up that way by people that have agendas. This generation's on fire. That's exactly right. This is The Dave Ramsey Show. Our Scripture of the day, Proverbs four, twenty five and twenty six, let your eyes look straight ahead and fix your gaze directly before you give careful thought to the paths for your feet and be steadfast in all your ways.

[00:30:17]

Alexander Graham Bell said, concentrate all your thoughts upon the work at hand. The sun's rays do not burn until brought to a focus.

[00:30:28]

Well, a lot of stuff going on out there in the real estate world, records being set and real estate sales, which is so weird during covid stuff, but it's still happening.

[00:30:37]

People are buying houses like crazy. And if you're getting ready to buy a home right now or sell a home, you really need a high octane, high protein realtor in your corner, real estate agent in your corner.

[00:30:49]

And don't be dealing with opinions and feelings to stink and expensive. Get the facts. Our team has created a one stop shop for everything homebuyers need to know. It's completely free. Check this out. Go to Dave Ramsey Dotcom home buying and get the answers you need to make smart decisions.

[00:31:09]

Joshua is in West Virginia. Hi, Joshua. Welcome to The Dave Ramsey Show.

[00:31:15]

Happy to be here. Thank you, Mr. Ramsey. Thank you. I have a question. OK, the question I have is I live in a double wide at the mobile home, and the problem is it's on my parent's property and I've tried to talk to them numerous times about purchasing the property from them and more permanently in my mind. Currently right now, I have a piece of paper that I had to sign with the the mortgage company that's financing the doublewide.

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And it's basically if I ever had a falling out or anything like that, that I would still be able to, I guess, keep the house here on the property. But I've had some issues with my parents. You know, they don't want to sell me the property or anything else. And it's going to cost me about twenty thousand dollars to move it up or to move it from it's to a different place. And probably I'm looking at about 10 to 20 thousand dollars additionally just to find property.

[00:32:18]

And what are you. Well, I have forty four thousand, OK. Well, what you're telling me is, is that this doesn't work long term. Right, that there's nothing on fire per say, but it's not a good long term plan. It's a double wide going down in value. B, you don't own the property, nor are you likely to. So that leads us to the conclusion we've got to get rid of it. How are we going to get rid of it?

[00:32:49]

Well, my wife and I, we've thought about talking to a realtor about it, and the real estate agent said that oftentimes they can sell them, but they said it's it's very hard to sell without it being on a permanent piece of land. That's very true. And that's my dilemma. Yeah, that's very true.

[00:33:12]

But but what your what's your household income right now?

[00:33:17]

It's I went from thirty five thousand dollars a year. I got a pay raise this year and we should be making about 55 to 60 K this year if everything stays the way it's going.

[00:33:29]

Joshua, is this on a permanent foundation? It's under Stocco. Yes, that's what they consider as part of the foundation. Yeah, but it's not his land, no matter what mom and dad make. Are do they have any money?

[00:33:45]

Not actually for the past few months, probably shouldn't say this, but just be truthful with you. My parents are both on disability and we've been trying to help them stay afloat on their bills, and that's been dragging us down financially as well.

[00:34:04]

OK. Well, what I what I think is, is you're probably going to sell this mobile home for 20 or 30 thousand bucks to a mobile home lot who comes and picks it up.

[00:34:16]

And you're going to have to borrow the difference. This is like a car that you're upside down in. It's basically what it is, and then you're going to go rent for a little while somewhere until you get that Munno paid off and then you'll save up your down payment. Are you a member of a good credit union, for instance?

[00:34:37]

Currently, right now, I, I use a credit union as a bank and the credit union, the lender that I'm through with right now, is also a credit union as well.

[00:34:48]

OK, then they may work with you to let you sign a note for whatever it doesn't bring. But you need to start talking to them about this house. This has to be sold. We have to move. And there's nothing on fire, but you don't need to be sitting here two years from now. I'm still twirling around and all this dysfunctional mess, we've had this going on since about 2015, 2016.

[00:35:13]

I was I was working in the coal industry. I was burning a ninety five thousand dollars a year. Coal industry drops out more or less. I get the rug jerked out from underneath my feet. And, yeah, that's what a lot of things started going downhill from there.

[00:35:26]

Yeah, well, it went downhill when you bought this house, when it went downhill because it's been going downhill ever since you bought it. So we got it.

[00:35:33]

We've got to stop the bleeding and get rid of the thing. So let's have a goal of being out of the mobile home business into a rental by next spring and sign a note for the difference with one of the credit unions. So let's say you can get it sold for 30 years or whatever. Then you sign up for 14, or if you sell for 20, you're going to sign up for 24. And it's just going to take you a while to dig out of this.

[00:35:55]

But it's not going to get any better waiting, right, because it's not going up in value.

[00:36:00]

And Josh, you're going to have to be proactive as you talk to this credit union and to this lender that, you know, this isn't something that's optional. This is not something you're thinking. This is a five year struggle and this is the direction you're going and explain to them your situation and you're going to have to follow up on it. Don't wait on them to make a decision. You follow up with them and call and call and call.

[00:36:23]

Got to finance the difference from Hanon, you guys, the keys, and you can come get it right. Well, you know, this is if they won't work with you, we're going to have to have some other conversations here. Deed in lieu of foreclosure. Yeah, this is not going to go well, but it's going to mess up your life if you go that route. I would much rather you just sign a note for the difference and get rid of it.

[00:36:42]

And then lesson learned. Mobile homes go down in value. They are not something you buy and lesson learned. I don't put mobile homes or our houses on other people's land. That's exactly right. Even if it's my parents and that little piece of paper means nothing. Yeah, yeah.

[00:36:59]

Well, it doesn't. It just it allows him to sit there and allowed him to get the mortgage on the mobile home is all it was. So but yeah, it's, it's problematic. And it sounds like your parents are in a mess too. So I'm sorry. Sorry.

[00:37:12]

You guys are facing all that open phones at eight eight two five five two two five. Cheryl is with us in Chicago. Cheryl, short on time. Go straight to your question.

[00:37:25]

Hi, Dave. Hi, Chris. I was wondering if age is a consideration when deciding whose retirement account to fund more. So I'm 45. My husband's fifty three should be put into putting more of the fifteen percent into my four O3b or more into his 401k.

[00:37:42]

I probably put a little bit more into his unless all things being equal. Now, if you got great mutual fund options and he doesn't, we're going to work it out.

[00:37:51]

But the question is, when he retires, will he have enough in his nest egg at your current calculations to, you know, to retire at 65?

[00:38:01]

We we both have a traditional pension and he also has four hundred and thirty two thousand roughly as of the last few days. Then it doesn't matter where I went today. It doesn't matter. You got plenty of time.

[00:38:12]

It's going to grow to plenty. You're going to be all right. You've done a great job.

[00:38:16]

And so, you know, because I mean, if he had nothing in there, then we might say, hey, wait it more heavily to his right so that he has something when he gets to 65 before you get there. But he's got a pension and he's got half a million dollars. Well, by then a lot more. You're going to be just fine. I'll put the money where the best mutual funds are or whichever one will give you a Roth option or both.

[00:38:40]

But yeah, pick the best. The best investment.

[00:38:42]

Hmm. I think that's the right plan. Do and again, make sure your plan is coordinated. So sit down with the smartest approach and kind of look at how you guys are invested overall and then do your IQ talk about that high definition dream of what it is you want to accomplish later in life.

[00:38:58]

There you go. That's how it's done. Yeah, it's Christmas stuff. If you check Chris Hogan, 360 Dotcom, he's got the retire inspired quotient there. They get your retirement IQ so you know where you stand on that stuff. Chris, thanks for hanging out today. Thank you for having me. Do about puts this particular hour of the Dave Ramsey Show in the books. Our thanks to James Childs, our producer, and Madsen filling in for Miskelly today.

[00:39:20]

I am Dave Ramsey, your host, and we'll be back with you before you know it.

[00:39:23]

In the meantime, remember, there's ultimately only one way to financial piece, and that's the Wal-Mart daily with the Prince of Peace. Christ Jesus. This is James Childs, producer of the Dave Ramsey Show. On your smart speaker, you can add our skill by saying, Alexa, open the Ramsey network skill. From there, you can listen to all our shows. Ask Dave money questions like how do I invest my money or what is the debt snowball?

[00:39:56]

Find out more it. Dave Ramsey Dotcom. You're in a rut and living life, just going through the motions, build confidence in yourself and learn to trust the God who created you. Check out the Christy Wright Show, where Christy inspires you to break through your limitations and create the life you're proud to live. Hey, all, I'm Christy, right? You know, it's so easy to feel stuck. You live life just going through the motions, doing dishes, doing laundry, carpool lines and a whole list of commitments that bring you no joy.

[00:40:27]

Why do we live like that? That's why I want you to check out the Christy Wright Show. Each episode will help you build confidence in yourself and the God that created. You hear more from the Ramsey network, including the Christy Wright Show wherever you listen to podcast.

[00:40:44]

Hey, it's James, producer of The Dave Ramsey Show. This episode is over, but check the episode notes for links to products and services you've heard about during this episode. Thanks for listening.