Live from the headquarters of Ramsey Solutions, broadcasting from the Dollars Car Rental Studios, it's the Dave Ramsey Show where dad is dumb. Cash is King is a paid off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host. You jump in, we'll talk about your life and your money. Chris Hogan Ramsey personality is my co-host this hour. Number one, best selling author of the book Everyday Millionaires.

The Phone number eight eight two five five two two five. That's triple eight eight two five five two two five.

Ayanda is with us in Green Bay, Wisconsin. Hey, Ayanda, how are you?

Hello, how are you doing? Thank you for taking my phone call. Sure. What's up? Sure, sir. I think it's probably like a two part question. So I found you around me online on YouTube. So from the stuff that I've seen, we are counting on baby step number two, my husband, we have a car loans and which should be paid off around March. We purchased the car last year and he is currently doing his master's program.

So his job has offered well, they've paid twenty thousand towards his master's program. He has to get a certain grade, which he has. And so we are cash flowing the other the last ten thousand. And he should be finishing in the spring of next. Yes. Wonderful. The my. Yes, thank you, sir. My question is, at his job, he gets offered. He's got a lot for one K and we also have individual Roth IRAs.

And so once we finished the baby, step number two, I was wondering, the 15 percent that you invest, would that be spread out across that or do we just put the whole fifteen percent into his Roth for one case, he currently put seven percent and with the match up seven percent.

Mm hmm. OK, cool. Well you guys have done very well. Mm hmm.

The baby steps the way we teach them. We have learned the power of focus on a short period of time supersedes the power of math. And so we always recommend when you're in baby step to paying off debt, that you stop all investing temporarily. And so that's what I would have you to do now until you get the car paid off. And then when the car is paid off, that makes you debt free, I think, other than your home.

And then I would build my emergency fund of three to six months of expenses and then I would restart my investing at fifteen percent of your income. You're certainly going to want to take that match of seven percent.

And I would do that in a Roth 401k where you do the other eight percent after that would depend.

It really would, Dave. And you're absolutely right that Roth and Nagendra, as soon as you hear Roth, I want you to get Englis, because I know I do. Even though my scalp. It happens because why he's a date, because that's after tax. The government can't touch it anymore. And so it's going to grow for you and be a beautiful thing. Now, with that other remaining percent, you can go to the Roth IRA. And if that doesn't get you to fifteen, go back to your 401k.

But utilizing those two things, young lady, is going to put you and your family on the way to beginning a legacy. And I'm very, very proud of you all and never touch it. Not for a home down payment, not for a wedding. This is money for your future.

Yeah, and it's tax free. Not after tax. That's right. Yeah. But the so we kind of do a rock, paper scissors thing as far as the order of attack goes. OK, the first thing you're going to put money in is the match. Once you get to baby step forward to working towards your fifteen percent of your income, going into retirement, the match and you've got a seven percent match with his. If you've got one at work, then you would do that as well.

But we're looking at your total household income. Fifteen percent. So if you're working outside the home, you take your income and his income together, ten point one five. We got to get up to that. So take his seven percent match in a Roth 401k in good growth stock. Mutual funds spread across the four types that we've always taught and that Chris invest in. And I invest in growth, growth and income, aggressive growth and international. Once you've gotten the match, if you're not to fifteen percent and most people aren't, then you would want to do any kind of Roth that you can do where you can get good options, whether it's an individual Roth, because it grows tax free or whether it's a 401k Roth.

And I think in your case, you're going to get to fifteen percent by the time you do. Both of those with his 401K Roth and two individual Roth, you should be able to get to fifteen percent of your income in the Roth if however, you run out and the only thing you've got left is a third option, which is. Traditional 401. KS, or 403. B's, where it's not a Roth growing tax free, then you would do that as your last choice of the three, but matches first, then Roth and then traditional, and you work your way right down there to get to the 15 percent.

Nathans in Sacramento. Hi, Nathan. How are you?

I'm very well and taken and as you say, better than I deserve. Cool. So it's amazing. It's great to talk to you, but thank you for your time. Before I tell you about this interesting situation, you've got a man named Jeff Martinez on your team. Yes, we do. He is a childhood friend of mine from church. And I was I heard that he was moving to Tennessee to work because I was told he stole from.

So he's an incredible he's an incredible young man.

We make fun of him and call him Martinez instead of Martinez since he moved to hillbilly land. We have to mess with him. Right.

So he's he's basically like adopted family. His and I'm sorry, his uncle actually married one of my aunts and not blood related, but here we go. Yeah. Thank you for taking my call. My question to you is about the deed on my house, my my wife for many years to get my house paid off, which my wife and I got became pretty, pretty weird back in May. We paid off our house. Yeah. Yeah, it's it's amazing.

And, you know, everything that you said and I know you know this, but you know everybody listening what you what they said about how you feel once your house is paid off and you don't listen to anybody is absolutely true. Something snaps. Airfield's different. The ground feels different. It's absolutely true. Thank you. My, my my way was to get my wife on the D because I met this fantastic lady. So right away.

What's your question before I run out of time here. OK. Should I get if not now the house is paid off. Should I get the deed. I get my life on the deed or what should I do about.

You need to ask an attorney and a real estate attorney in California or an estate planning attorney. California has some very weird real estate laws that are different than most of the rest of the U.S. In most states, it won't matter. Yeah, your way. The residence, your wife automatically owns half of it. I'm not positive in California if that's the case or not. If it is not, you can easily atter with what's called a quitte claimed. Sometimes people call it a quick claim deed.

It's not. It's a quit claim deed. And you would quit claiming half ownership to her.

That's right. And so you'd quit claim half of the ownership to her and or joint ownership to her. And, you know, you can have that done. It's usually a very inexpensive process. A few hundred dollars will knock it out with the deed prep in the recording and everything.

But you have to get it recorded. You can't just sign it. It's got to be notarized and recorded any time on a deed. That's what I would want you to check with the attorney in California to see if that's even necessary. In most states it's not. Yeah, and your sample will take care of it. And the fact that you are married and the fact that you are in is your resident primary residence. Yes. That that usually takes care of it.

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Chris Hogan, Ramsey personality and a number one best selling author, is my co-host today here on the air, open phones as we talk about your life and your money. Triple eight eight two five five two two five. That's triple eight eight two five five two to five.

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Tom is in Moscow, Idaho.

Hi, Tom. How are you? I'm doing well, thanks. Thanks for taking my call. Sure. What's up? OK, so I'm a little bit, in Chris's words, a blend of panicked and pumped, if you will. But we've been blessed financially. And so I guess I don't want to get rid of assets. I want to hang on to my legacy for my children, my children's children, if you will, because land out here is going to sort of rough.

And with the convincing one on, there's just more people flooding in here. So we have 143 acres. We have five rental homes. We still have a little bit of debt. I did divide up some ground this year. I sold off three lots that would wipe our debt out one hundred percent. We do well financially. We're one of those everyday people that you wouldn't know about. So do I sell off the land 20 acres of 143 or just keep doing what we're doing here?

How much debt you got left and how much income you got, how long are you going to be going to take if you don't sell the land? My wife and I are both 52 years old. We have two hundred eighty thousand and yet one is on our primary. It was another business we used to live in. We kept as a rental and we have another one on a rental. We have five rental homes. We have about maximizing my IRA or correction, my formenti.

What your household income is five seventy five thousand a year combined. I'm going to take a lot of 385.

Well, I guess you haven't met me yet, so. Well, I do. I met a thing called math.

Well, we have we have a business as well.

When I ask you what your income is or what your income is, I cannot depend upon my fluctuating income. Yes, you can.

What I'm asking what your freaking income is. What is your income, 70, 75? No, it's not. You have a business on the side that you haven't told me about. It varies day, I know. So does mine, you can't depend upon my income, it could be two hundred thousand dollars gross one year could be four hundred thousand.

Just answer my question. What are you going to make next year of this business? It's it could be 50000 to 100000 literally, it could be 28 million, but it's not. What do you think you're really going to make? Let's say 50, that's what you really think you're going to make. That's your actual projection. Correct. What do you make last year? What do you make last year on it? I think on tax purposes, probably about 40, 50 local paper.

All right.

So you have approximately depending on the variable portion of your income, 110000 dollar income. How quick do you think you're going to pay off 385 if you don't sell off these lots?

280 to 800, I'm sorry, yeah, I'm sorry. Well, I'm putting 25000 into my form and came to a stop that and threw everything at it. OK, as well, the point is, if you're putting 15 percent of your income towards retirement, which is what you should be doing it, baby, step four, then how quick are you going to pay off to 80 with a 75 to 150000 dollar income?

We don't know exactly what it's going to land. It's going to take a while now. I personally would probably rather hold the Lotte's on the contiguous 20 acres to the 143 than I would have rental rentals I can replace. I can't replace them. Somebody living next door to me that I can't buy back.

Yeah, yeah. That's what I'm sitting here thinking to Tom, you know, letting go of that rental that allows you to keep the land, allows you to wipe out the debt and now you're able to move forward, my friend. Yeah. And that's the better plan. And I know you. I could hear it in your voice. You like to buy and hold even the rentals, but but that rental letting it go, it's going to allow you to pay off your primary residence and you're holding the dirt.

Yup. You that's the better long term play.

If you if you want to let go of the dirt and trade it for the rental, that's fine. But you're going to make a trade here. Yeah. If you're smart, I would not sit and try to cash flow my way out of this. I would move one of these assets off the books and get more than that. Either I'd move the rentals or I'd move the lots. And you've just got to decide which one you love more. I personally would rather have the property contiguous to me and and ditch the rentals and then come back and get rentals.

Why is that? Because you can't get it back. That's right.

Once it's gone. That's right. That's right. And so I have, you know, every property that I own, I buy property when it comes up adjacent to me. Hmm. If I can, you know, if it's reasonable people, I got, you know, not people are crazy. I'm not paying overpaint, but I'm just saying, if I can pick up a property that's adjacent to a property, I've got two lots adjacent to my home.

I got six lots adjacent to my lake house for Buffer. Right. Because I can't get that back and none of them produce income.

They're there just because of the way he was talking, that idea of legacy, this idea of dirt and, you know, and it goes up in value and you're going to be OK with it. It's you're going to make money on it.

It's just a matter of how much and you're protecting your sanity by keep in space. Yeah. So it's up to you, but that's you can look at it and work your way through it.

Now, if you really are going to make, you know, a hundred thousand on this business instead of fifty, and you're just sandbagging me because you're trying to be conservative because you can't end quote, air quotes count on this income, then you might want to just not do either and take three years and knock it out, live on your salaried income, use all of your business income and be done in three years.

That's right. You could do that. I might do that. Yeah.

But if you're going to be in debt for seven or eight years more. Yeah. Playing with it. No messing around.

And that's what the numbers you're giving us are indicating then I would not sell the rentals personally.

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Yeah, and, you know, it's a good idea to stop a second and say if the pandemic didn't teach you folks this, here's a thing you should know. You can't count on any of your income. Right? I have a steady job. Yeah, that's a funny thing.

You know it because we've proven this year there's no such thing.

No, we really have. And so, you know, I'm secure.

No, you're not. You're secure. Is your ability to save money and go get another job.

Now, go go take your skills to the marketplace and make money with them. That's what makes you secure. You're not secure in your job. So your business income is never secure because things happen. Well, we've learned that again this year. That's why we want to be the third pick, the one of the brick house. So when the pandemic, Wolf, comes and he huffs and puffs and he blows, then he just gets out of breath.

Because we had an emergency fund, we were debt free. And you ain't going nowhere and going we're going nowhere. You could Mr. Carnivore be sitting here in my house paid for.

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For Sergeant Ramsey, Personality is my co-host today here on the air. This is the Dave Ramsey Show, Open phones at Elite eight two five five two two five. Jeff is with us. Jeff is in Naples, Florida. Hi, Jeff. How are you?

Hey, Dave and Chris. Thanks for taking my call. Dave, I want to thank you, because this little pig is safely residing in a brick house that you helped build.

I didn't build it. You did. I'm proud of you. I just talked you into doing it. Well, thanks, Dave. Dave. Hey, for the sake of not boring your listeners, I might change my question because it was about land and very similar to that last caller. So I appreciate you sharing your opinion about it. So I guess my question would be my wife and I recently a seven year this year, and I just kind of feel like I have that aha moment.

Like I have actually made it. And I just I want to continue to walking in your guidance and I just kind of feel like there's a wall. And now I don't know where to go after this. So if I give you my numbers and I break now, would you be willing to guide me and just tell me what you think I should focus on next? Sure. So I'm 45 and my wife is thirty five. I'm a police officer.

She's a schoolteacher. We have about five hundred thousand in retirement accounts, including four fifty seven IRAs are both mixed together and we have a paid for house about two hundred and fifty thousand. So we're right about 750 give or take, you know, way to go. Well, thank you. I you know, I listen I listen to every one of your shows and sometimes I feel like I'm really behind and then sometimes I feel like I'm doing OK.

So you're more than OK. You're doing great. OK and well thanks.

If you don't do anything else except hold on to that 500 and let it double a few more times, you're going to be in great shape and you're not going to do that. You're going to continue to add to it.

So the trick you need to play in Christian I discovered this when Chris first came on board. We started coaching athletes that were making piles and piles of money and baby step seven faces the exact same thing we discovered. And Sharon and I do the same thing, that there's really only three things you can do with money. You can give it. You can invest it. And you can spend it. And you really ought to do all three, all the time, different ratios, different amounts.

You're in a position now you can spend a little more than you were when you were a broke guy. And you know what you've been doing, saving like crazy, investing like crazy. So, Chris, we would put ratios on those three things.

We sure would. And looking at that and understanding the percentages. And so, Jeff, you might increase some lifestyle where you expand your budget. Maybe your wife has had a heart to renovate some rooms or remodel or do some things and make those projects. But at the same time, you might also find some charities to lavishly give to wounded veterans or things that support single moms or other charities that align with you. See, what you've done is as you ship that out of the sprint, a baby step one, two and three.

And you started into this lifestyle, right? This marathon of four or five and six and now to seven. So it's in your DNA. But I want to warn you, stupid is around every corner and it takes about three point two minutes to sign on to buy a boat or to buy a car to go backwards. And so what I want you to do is adopt a mentality that stupid can't get in your house. It's a brick house with a lock and you're doing things with cash and it's OK to save and enjoy.

Just do it intentionally.

One of the three things is easy for you, and usually two of them are hard. Hmm. Between generosity, enjoying the money, spending and investing, one of them comes easy to you. The other two, you need to put a percentage on your side. This percentage of our income is forgiving. This percentage of our income is for enjoying this percentage of our income is for investing. And then you just get in the rhythm of doing that and it forces you, for instance, if you're not a spender, if you're a saver, if you force yourself by putting a percentage in for enjoyment to do a bucket list trip or a bucket list purchase of a 1960 Corvette, which I did.

I was born in 1960, so I wanted the 1960. So that was a lifestyle thing.

It's a complete toy. Don't need it done, you know, just wanted it, you know, and that's a baby step seven thing. But it is a small percentage of my overall net worth and a small percentage of my income. Yeah, for sure.

What was it about up in the hold on a second. Now, I know you are an investor and I know you save. So did you have to learn to enjoy? Was that your struggle?

No, no, no. I had to learn to invest. Did you really? Yeah. OK, I'm a spender, OK? I have no trouble spending money. None whatsoever to this day. I don't. OK, but it gives me gives me a guideline. I still need, I still need a the guardrails.

Right. Says this percentage of your income and you pick the percentage. I don't care. Ten percent. Twenty percent. Five percent. Six percent. Five point three percent. I don't care. Right. And we've done that with these athletes where you go because we've met them that we've made athletes.

You always hear the stories about the ones who lose it all, but we've met them who don't spend anything that's exactly scared to death.

I came out of poverty and they're scared to death.

And they don't they don't know don't. They're driving to a 25 year old whoopty and they got ten dollars million in cash for the guy who had.

Twenty eight million. Yeah. Twenty million. Twenty eight million in a bank account. In a bank. Yes. And we were like, what are you doing in my house? And he was he was ashamed. He was scared. He was scared of their lives, shamed.

I hadn't done anything with it because I didn't know what to do. And I'm like, don't be ashamed. You got twenty million. Exactly right. You know?

So anyway, the point is, you got to say some people are just love giving. Mm hmm. And so that was easy for them. Some people, they don't not have to really kind of I mean, to be a giver, you know, like I have to say that out loud. And when I give this ten percent, I mean, give us fourteen percent. I'm going to always give and then you always do that that money's already spent before you get it right.

It's that portion of it spent on giving. That portion is spent on lifestyle. That portion is going into an investment. And when you do that, then you can start setting some goals and the investments, you start setting some goals and the giving and you start setting some goals on the spending bucket list. Oh, my. I've always wanted to travel there. I've always wanted to own a dot, dot, dot.

OK, but go get it. That's fine.

You got that within your spending budget. You'll get there and baby step seven. Well, David, I'm finding people as I go around and when I used to travel we used to go around when I used to travel and do things that were nice and fun and helping the people. I'm on lockdown. But people would talk to me. I'm grounded. Yes, seriously. Literally. But people would talk to me. They it would be a struggle to enjoy them.

They had been in that mindset to work to get out of debt.

Well, you get in. Some people have to they have to go. The pendulum has to swing, you know, like row. And with me, it happened. I had to swing all the way over from irresponsible spending to no spending. Hmm. And you have to swing over there and just go because I intense rice and rice, rice and beans. Don't talk to me about going to. Stand by me, step two are going out to eat and baby step two or smack you because you have to get this new groove in your brain where you're controlling your life and you're controlling your money.

And then once you do that, though, it's hard to get up out of that groove. Yes, it is. And go to the next step. And that's just get in the rhythm of investing and getting the house paid off. And that's that's more of a plodding instead of sprinting. That's right. And then when you finish that and get where he is, baby step seven, then it opens up a whole nother can of worms.

And really, baby step seven is where you hit legacy stuff.

You start to have more noble a more noble vision for money at that point because you're survival's behind you.

Yeah. Oh, yeah. You have to worry about survival. Yeah. And Jeff, that's a great point. Hop over into Ramsey. Plus, Dave's got a lesson in there called the Legacy Journey, where it really and truly starts to dig into that nobility side. And it will allow you to kind of start to think bigger. And it unpacks a lot biblically based. But it's going to give you a foundation. I'm telling you, you and your wife, you go through it together.

You'll start to look at all of this stuff much more differently and you'll find that you do have things to still chase. You do have some wise inside of you. So check it out. It's the legacy journey. It's a part of Ramsey plus that you get a chance to go through that course.

Yeah, I always thought it would be cool if if I could give away X number of dollars and then I thought it'd be cool if I gave away that in one day. So now I need to go. Because you did. You did. You know, I mean, you got to have some fun with this. No, you got to have some fun, without a doubt. This is the Dave Ramsey Show. Our picture of the day tied us to seven to show yourself in all respects to be a model of good works and in your teaching show integrity and dignity.

Thomas Jefferson said, in matters of style, swim with the current in matters of principle, stand like a rock.

Oh, Mr. Stylish himself. Yes, Thomas Jefferson. Who knew? There you go. Chris Hogan, Ramsha personality, is my co-host today here on the air. James is with us from Nashville. Hi, James. Welcome to The Dave Ramsey Show.

Thank you, Dave. How are you? Better than I deserve. What's up?

I have a father who's a long term believer in keeping the cash nest egg. Unfortunately, he's pretty ill. And the elderly man on that nest egg is grown north of 500 K. So I'm wondering, what do I do with 500 K of hundred dollar bills when he passes? He's he's 87 now. And, you know, it's legitimately or need to run a business his entire life. He's put back a little bit of money every month. Huh.

They never spend it. And here I am in this dilemma. Now, how do you bank with. I think with Regents'. OK, good, go into them and talk to them about a private banker. Mm hmm. And go ahead and set your bank up on notice for this and ask them how to process this cash best and well in advance when it's going to start talking about it.

Now, the ATF requires a report.

I believe it's over 10000 hours. Cash comes in. It's reported on you to keep drug dealers running money through banks. OK, and so a report goes out to the feds, but that's not the end of the world. It just shows that it's there.

And you you know, I do not know what a bank will require to process that much cash.

I know what I would require require an armed guard leaving his house.

And it would certainly be best if you could talk him into he's sitting on hundred dollar bills.

Yes, James is, you know, I it yeah. Does he have all his mental faculties still? Well, that's another issue, but I mean, he's probably 90 percent OK. Well, I mean, for his age, would he allow you to open a bank account and begin to put this in?

Oh, heavens, no. OK. OK, now, and the only reason I asked about the faculty's two is this is what you know about, you know, the 500000. I'm I'm just seriously in the backyard with a metal in the backyard. Just I would ask him just then talk and say, Dad, you know, where else did you used to put money? And just so you're able to kind of have a trail, you might be surprised there might be closer to 750 or something, you know, all totaled once.

Once you find it all, it just becomes his home. Go ahead. You are going to his home after he passes. Will certainly be all mine.

Yeah, I'm guessing he probably has hoarded other things. Not so much, he loves his cars, and that's about all he cares about. OK. And you know where they keep.

He's got a bunch of real estate and, you know, some other holdings and such. But it's mainly this catch as catch is my big concern because I'm always worried about civil asset forfeiture. And you know something? What are you doing?

Are you are you an only child or are you an only child? James. Yes, OK. OK, that's good. Well, yeah, I hope he's guys a will and anything you can do to I just worry about his security. Yeah. And so obviously it hasn't affected him so far in 87 years. So he's OK. Don't panic about it.

But would you get a safety and at least try to get something in there to lock it down?

That wouldn't be a bad idea. You know, if you can talk him into it. Yeah. And they already have done it. Yeah, man.

Or who he's told about it. So just keeping him safe. Yeah. That's the that's the idea is that. My goodness gracious. Yeah. You're going to have to somehow usually a private banker would help you within your branch and regions is a reasonable bank.

They should be able to provide that and can help you process the cash. I'm sure there is a reporting mechanism. I'm positive that they have to go through, but I don't know how much it changes between 10000 and 500 either. I don't. So. That's when I say at the beginning of the show, cash is king. That is not what I mean. I just just for clarity. OK, just for clarity.

I don't have 500000 dollars in cash stored in my house.

I can promise you that, you know, that money needs to be working for you, not just in the hammock. And that's that that's what it's doing. Just sitting there.

Mike, is Mike in Charlotte, North Carolina. Hey, Mike, how are you?

I'm great. I'm great. Hey, guys. So my wife and I did our estate planning last year. We've got two daughters under the age of four. So if something happens to us, one of my brothers would be the executor of our state and another brother and his wife would raise our daughters. Dave, I heard you talked about how you sit down every year with your family in the board to review what would happen if you died. But my wife and I are kind of wondering how often should we review our state with my brothers?

I think my wife's a little hesitant to disclose to family where we stand financially. So should we dive into those financial details? Yes.

Don't ask them to manage it if you're not and leave it to him and then be surprised by what it is. We should have a reading of the will while you're alive and say this is how much this is.

If you trust him to manage it, you got to be able trust him. Tell him about it. Right. And, you know, the caveat the caveat would be that he should not discuss that with other family members.

That's right. And Mike, I agree that that once that annual review is a good thing, here's also the other kicker. You can send the kids in one direction and the money on the other did OK. You did do two different brothers, OK? Right. Oh, yeah, definitely. Sit down with them. And obviously you have to sit down with them.

I mean, if nothing changed and last year you said there's one point one million in the 401k and this year there's one point two million and you call them up and just have a ten minute conversation. Everything's the same. Only difference is here's the balances then that's you know, I'd give them an update.

But the more complicated your estate, the more in-depth your annual review will be. But it could be three minutes. But but I just want to touch base, make sure he still cool managing it.

Make sure because people do this stuff and they look up in a decade has gone by and nobody's talked about it again. And memories get short.

Right. And if family gets crazy, Mike, you reserve the right to update it and make changes. Yeah, absolutely. Yeah.

So it's not in stone, but you can you can adjust that and anything, of course, Major, that changes in your life if you change if you move your residence to a different state. Yeah.

If a child reaches the age of 18 or 21, that may necessitate a change or recommend a change in or will at that point, you know, you you also need to, as the kid's a teenager, start reviewing the stuff with them.

With them. Yeah. And I was saying sit down and talk about I was talking about the initial meeting, Dave. Yeah. When you're sitting down and. Yes. And then that way you can email update and just keeps everybody on the same page. Yeah. Yeah, yeah.

That's that's probably if he doesn't know the amount he just said yeah I'll manage the money. He may think it's two million and it may be 200000 or it might be the other way around. Right. And so, you know, just everybody's going to have expectations about exactly what is going on here. Absolutely going to happen. If you can't trust them to discuss it while you're alive. Don't trust them to manage it when you're dead. That's the truth.

So and you got you know, you got to go through this stuff and you talk about the kids. We talked about that with who we were going to leave the kids to. How are you going to take care of these kids?

Yeah, no, I mean, that needs to be discussed. And when we when we hit the drum about getting a will, people this is because if you die, it's called dying intestate without a will. If you don't have one, the government's going to make decisions about where your kids go. Yeah. And I've traveled to almost all the states and guess what? Their potholes in every road. What, they can't take care of a road. What makes you think they're going to take care of your baby?

So do will detail the people that are getting the kids and do it the right way.

I'm done. Are you in Florida? That's pretty good. Potholes. That's pretty good. I like that you can't trust them. Take care of the roads and don't trust them. Take care of your state, right? Well, yeah, that's good, Mike. That's a really good question. And thank you for for doing that. But the more complicated the estate, the more in-depth the annual review would be.

The annual review could if I've got all the information the year before, it would could be a five minute phone conversation.

Yeah, it doesn't require much, but it makes you stay in touch with the details. And the people, on the other hand, stay in touch with the details. And that's smart.

That's just good. Good diligence person.

Good show. Thank you, sir. Good to be with you. James Childs is our producer, Kelley Daniels, our associate producer and phone screener. Great job in there, guys. I am Dave Ramsey. Your host will be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial piece, and that's to walk daily with the Prince of Peace writes, Jesus. This is James Childs, producer of The Dave Ramsey Show.

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