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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Radio Studio, this is the Dave Ramsey Show, where America hangs out to have a conversation about your life and your money. I'm Chris Hoggett, I'm hosting along with me this hour is Dr. John Delany, and we are very excited to be with you. We can't wait to talk to you to find out what's on your mind. But here's the deal. We can't talk to you if you don't call us.

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So I don't want you to be shy. I don't want you to be reserved. I want to make this a day of boldness where you pick up the phone and call us the number to call us triple eight, eight to five, five to five. Again, that's eight eight eight eight two five five two two five. Call us. Kelly is ready, standing by. She's properly caffeinated and ready to go. And you can also find us on social media.

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You've got me at at Krischan 360. You've got John at John Deloney or at Ramsey Show. John, are you ready? I'm ready, ma'am. People are sending in their social questions this day and age right now with so much going on, with kids being at home, with people working from home, there's a lot of stress right now. What's a tip that you have? I know you're talking to people. You've got your new show, that Dr.

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John Boloney show. I know you're getting this right now with stress levels being high. What are some tips you have for people?

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Oh, that's a great question.

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I think the first one is to double down on intentionality and intentionally separate, intentionally go for a walk by yourself, intentionally give your partner some space, intentionally have conversations. The second thing and people hear me say this all the time, but communication is not connection. And what you find yourself is you're stuck in a room and you're seeing your kids all the time. You're seeing your husband, your wife all the time, and you are passing along information.

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I need you to do this. We got to do this. We got to move on to math. But you're not connecting. So you get at the end of the day and you feel like we've said all we need to say to one another. I've seen you plenty, but our brains, our hearts don't register. That is connection with. Right. That's so it becomes very transactional. And what happens is you end up feeling alone in a crowded room.

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You get lonely, surrounded by people who love you and it's a dark place. And then if you're like me, you just start retreating then.

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And then you realize I've been having a lot of interactions with my wife, but nothing meaningful, just a lot of business decisions, a lot of who takes the trash out and you get this and that. And so you've got to be intentional about connecting.

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OK, that's good. So be intentional. The reality is, you all you're going to have questions John's got to show that is newly launched and exciting and ready to take your questions. You can email him at Asbjorn at Ramsey Solutions dot com or put this number down. It's eight four four six nine three thirty to ninety one. That's way for you to call in, leave a voicemail about your question and he'd love to talk with you. He's going to be dealing with life relationships, mental health challenges, learning how to deal with difficult people, which can be stressful and irritating.

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I get a lot of practice doing the show. And you're on with Dave when you're with Dave and it's OK. But I'm here for you today. But we want to hear from you all. We want to talk with you. We're going to get to the phones. We've got Tirrell is in Harrisburg, Pennsylvania. Tarryl, how can John and I help you?

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Hi. How are you guys doing today? Oh, we're focused and I finish, my friend. What's on your mind?

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So I am 26 years old and I am on babysit step two. And I've been looking into my future about what I'm going to do as far as my career is concerned. I've been a junior Olympic gymnastics instructor for about ten years now and I want to own my own gym. But I know that it's going to cost me hundreds of thousands of dollars and I'm just not sure where to start or what to do.

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You currently work at a gym now? I do it's actually the gym that trained me as a kid. Hmm. Are they are you a part owner there or are you just an hourly employee? What's your role there? You're a head coach.

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I'm just an hourly employee.

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OK, so talk to me about your income right now. What's your your household income?

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So I'm single. I work two jobs I make. Whether 600 a month go. All right, and talk to me about what debts do you have? I have my student loans just under six thousand dollars, and my vehicle, which is eight thousand six hundred, OK.

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And those are the only two debt you have. That's it. OK, well, see, here's here's if I'm you, I'm going to get so intentional about getting my money freed up that I'm going to double down, take on extra jobs, being a waiter, whatever it is I got to do to attack the student loan debt of 6000. And you said your car loan is just under eight.

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Yeah, I've been thinking about selling it. I'm able to ride my bike to work.

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OK, well, I mean, I would put all options on the table, but I like what John was asking you working at a gym and being connected there. I think what you do, Tirrell, like for you did what was the highest level you competed in the gymnastics. I love what? Out of how many good oh, OK, I'll see you there. Yeah, yeah, yeah. I mean, OK, you're not going to believe this, but tell me you were great.

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Chris Hogan also was a level 10 gymnasts at one point in lifting.

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OK, you don't want to see me on the parallel bars now, Tirrell.

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But here's the thing, man. I the idea of you setting that goal and really being able to know, hey, this is what it's going to take. And as you said, there are a lot involved in it. But you looking in, you being connected, you taking on ways of even tutoring, doing some more training, I would have this as a goal for me, for you in the next three to five years. But I would work intentionally.

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You may have an opportunity to buy in to a gym. You may have an opportunity to buy one. But I want you to financially put yourself in that position.

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Why do you want to open a gym while you won't have your own gym? Well, I come from a family of ten, and most of my siblings have severe special needs, anything from a seizure every day to a week. And I've always wanted to teach. I actually went to college for a short period of time that I was there to be a secondary education teacher. So always loves kids. And there's not many opportunities for kids that have special needs to be in an environment where they can express themselves and just have fun.

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That's right. That's really what I wanted to do.

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So I want to I want you to back out for a second of this this focus, this laser beam on a gym. And here's why. I don't like the fact that you've been training for 10 years. You've been training other people and you're the gym that knows you better than anybody is letting you hang around as a minimum wage employee. And if you step back, owning a gym, running a gym is part passion, part loving kids, part really knowing how to work with special needs men and women, which is which is its own education field, its own practice, dealing with special education, special needs parents is a whole other challenge.

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And then just running the business, keeping the lights on. There are I want you to get some experience from working at all different kinds of gyms. If you can work with special needs kids in your community, if you can go back to school at a local community college there in Harrisburg and get some training on how to work special needs kids, I love it. There's a point when passion, just like in gymnastics, like I love gymnastics. But did you got to put the hours, hours, hours?

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And so for me, you're starting you're asking multiple hundreds of thousands of dollars questions too soon. I you get to training. I want to get some different expertise outside of your home gym and see what see what options fall your way, man. Hey, you've got an incredible opportunity, my friend. I love your heart to special needs kids and I love this. You've got options. Start working, as John said, get connected network, but gain that experience.

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This is the Dave Ramsey Show. People all over the country are discovering a faith based and budget friendly way of meeting health care costs through Christian healthcare ministries, Christian health care ministries, or CHF, is a nonprofit organization that helps members carry one another's burdens with health care expenses. And they have successfully shared each other's medical bills for nearly 40 years. CFC is right for you by visiting S.H. Ministries. Drug C h m is a proud sponsor of Dave Ramsey live events.

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Hello, everyone. You are listening to the Dave Ramsey Show. I'm Chris Hogan and hosting along with me is John. We are excited to take your calls. You may not know, but we are growing here. Imagine walking into a job and seeing the work that you do, creating real life change for millions of people that it touches. Now, more than ever, people need our message of hope. Ramsey Solutions is currently on the hunt for several key developers with expertise in Ruby on Rails, Java, C, sharp and front end technologies.

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If you're a top notch developer who wants to work with over 150 other tech gurus, this is the place for you to be. We hire only the truly dedicated, the best of the best. If you've been impacted by our mission and want to spread the message, we want you to apply today. Find out about all the jobs available at Dave Ramsey dot com. Just click on Dave's hiring tab on the right side of the homepage. We are doing work that matters and happen to a lot of fun along the way.

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Spread the word that Dave is hiring. Visit Dave Ramsey, visit Dave Ramsey dot com and check out our opportunities. We are definitely growing and looking for the right people to help us continue to spread the message of hope. Oh, I told you to send in questions. You all have been sending them in. Very, very grateful for you for these social questions. A big deal. Someone asked from Aetna on YouTube says, Do you consider being on a contract with your cell phone company, a form of debt?

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We basically owed them our business for two years. I don't like being locked into their contract. Well, I mean, as you look at this, this is a service agreement. So, look, you know, as long as it's for the phone service, right, that you're paying just like a cable bill or water bill or electric bill, I'm going to look at this as a bill. This is something you have if you finance the phone along inside of that.

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Well, now, yes, you are talking about debt and a lot of companies are having people be able to do that. So be intentional, my friend. You know, if you owe on a credit card or a personal loan or anything like that, get intentional, get it attacked and pay it off.

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I'll tell you this. This is an interesting question from Aiden that I've wrestled with. And I actually switched phone companies. I won't said the company that I use now. But it's a month to month company and I pay my bills way, way in advance. And it's a psychological thing to me. I don't like old people money to the point that I will pay them way up. And I like getting a bill every month with a credit on it and a negative.

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It makes my heart feel good just to think this time the electric company in hock to Brother Tony. Right? I love that feeling. And it's just it's purely psychological. It's stupid. It's funny, even good use of my money. But I don't like old people money to the point that I have a phone a month to month phone carrier service and I prefer some of my bills. So I like that question. I appreciate your answer there, Chris.

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Yeah, absolutely. And listen, if you're out there, especially the people on YouTube, I got to give them a shout out. They are fantastic. They are plugged in there now. They are talking to us, giving us feedback and really cheering people on. If you're not plugged in to one of our communities, we've got the baby steps community that is available that you can plug into. I've got my everyday millionaire group on Chris, go to Facebook, dot com slash Chris Hogan 360 and you can connect there.

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You just life's not meant to be done alone, so get connected so you can communicate. Talk about the things that are on your mind. Sometimes we get connected with people too much like him. Boloney that's sitting here. I tried to lock him out. He knows the code. He comes in anyway. It just happens. But hey, it's good to be here. We want to hear you call us triple eight, eight to five, five to five.

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All right. Let's see what Kyle talking about. Kyle, I have actually been my friend to Bozeman, Montana. How are you? Good, how are you guys doing, focus and not finish, my friend, what's on your mind? So my wife and I own a home here. We bought it. We owe about 370 on it. It's worth probably 450 now. We've done some renovations in that, but we're about 40 to 45 thousand in debt.

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So my question is, do we sell that house rent for a couple of years, pay off all that debt and then basically start on baby step three? Or do we save keeping this house and paying towards that debt, keeping this asset that we already have, Dutrow, which rules household income above?

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My wife stays at home and I bring home about 80 to 100, depending how this all goes.

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OK, and what do you mean depending on the fall?

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You mean the weather contracting? OK, into your finished carpet? Typically in a fall, you fall into, what is it, 80? Yeah, probably.

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OK, and what's the mortgage payment on this home? About 2300. OK. So was your wife working at the time you all bought this home? Yes. Uh huh. So you qualified for both incomes, how much was she making back then? About 30. OK, so things are things are tight with her at home, huh? Yes, yes and no, we have two kids with child care in this area is about what she would make every month, right.

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OK, so this 45000 in debt you have break it down for me. What do you got? Two vehicles, student loans and a little bit of medical. How much of it is student loan? About 23, OK, and that's mine, and then talk to me, a vehicle, one yours is how much is owed on it.

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They're both right, about eight. Eight thousand. How much is the payment on the cars? Each of them.

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One is one sixty and one is 245.

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OK, so you guys. All right, so you were doing a whole lot of normal, right?

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And the reason I say this, because typically average homes in your area are how much I can't remember that market. I know I'd looked at some land out there as I was driving around, but you guys bought on the higher end of the housing market than you. No, I mean, we bought on the lower end and we we appraised 15000 higher than we bought. But it is skyrocketing. The average home price here is four to 450. OK, for for a median three.

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We have a four bedroom, but that's for a three bedroom house.

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What's the square footage on this home? About 2400 square feet. OK. All right, so it's not a massive home. Here's the thing. When people start asking me about selling the house to be able to attack that, there's a couple of things that immediately jump out at me. You know, number one, what are we doing? And I mean, that meaning are we just trying to clean up and wipe it away or are we fixing the behavior that's behind it?

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You guys have an appetite for debt, right? And so you're starting to go bored. This doesn't taste good. It doesn't feel good, and you're starting to undo it. I don't think you necessarily need to sell the house, which you need to do or sell some cars. Hey, look at this. I mean, you've got almost 400 dollars just tied into vehicles here. That'll give you some breathing room, but it's the behavior. So I don't think necessarily selling the house is the answer.

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I think you guys getting on board, getting on a budget, get more intentional and then looking at selling these cars was probably the answer.

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Yeah. And we we ah, my wife, she has an older Honda pilot, which she doesn't drive too much right now. Right. But we bought it and it's only worth about 4000. So we have to have a bridge loan there anyways to pay that off. Right. And then my mind, we got out into 2016 and we got a good deal on it. We said about six thousand dollars doing that. So you're a friend.

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Well, so, Kyle, Kyle, I want to hop in here. You're doing exactly what Chris is warning you about, which is you're always going to have a a plan and. Well, but we had this when it was a good deal. And so you're looking for a quick fix. And brother, you're going to have to get in and change the heart around this.

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And the only way we've seen this work time and time and time again is that when people start selling stuff, they start unloading and don't care about how good of a deal it is. Whether your wife will say you cannot sell our dog and you cannot sell the plates in the in the knives, in the forks, in the drawer. And y'all aren't there yet. And so selling your house is just going to be punting your behavior down the road. It's going to be a big Band-Aid over a wound that's not going to heal.

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And you're going to find yourself in the same mess. You're going to rent for a year.

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You're both going to be like, well, you know, you're going have a good fall. You're going to feel good about the future and you're going to go do something silly financially. You got to get to the root in the heart of this thing before you sell any type of house.

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Yeah, no, I really would. And it's just your own that you're on the tip of it. You know, you're getting there now. It's a matter of just really driving into it and looking at the middle people in the house and going, I want something different for you. I want you to be raised different. And Mom and dad are going to work together to do that. You start to stare at them and see them in that way and start to think about the power in your hands.

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Then you wake up a little bit, you start to grow up and you do what grown ups do, which is called sacrifice. This is the Dave Ramsey Show. At Takeover's, we believe a great pair of cowboy boots should be comfortable right out of the box so you can stand with confidence no matter what the day throws at you. We believe in the enduring quality of handmade boots, and we believe that your hard earned dollars should go far. So we only sell direct to, you know, retail markups, no middlemen to deal with, just amazingly handsome cowboy boots for men and women.

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That won't just make you look taller. They'll make you feel taller to find your parent to Covas Dotcom, slash Ramsey and walk taller.

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Hello, everyone. This is The Dave Ramsey Show. I'm Chris Hogan and hosting along with me this hour is John Villone. We are excited to be able to talk to you and take your calls. You all have been fired up on social. I got one in. William from Twitter asks, Do I close my credit cards before they're paid off or do I wait and close them as they're paid off? Then he hits me with, is there ever a time where you recommend less than a thousand dollars start emergency fund?

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OK, well, first of all, stop being greedy and try to get two questions. And I suppose I have one. OK, just one. But here's the reality. You can close it and then attack it and pay it off again. I know people that they know if they leave it open, they're more apt to do things. So, you know, cutting up the credit card as well as calls and shutting it down, you can still pay it and attack it and pay it off and get it out of your life.

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So I would close it, attack it and then get it out of your life. Is there ever a time you recommend less than a thousand dollars start emergency fund? If your income is less than 24000 a year, then you would have a 500 dollar emergency fund. That's that's the approach to go with that. So, William, you got you got your two friend, my friend. But those who are out there, if you've got a question, 100 down at Chris Hogan 360 or at John Delaney, we'd love to take your questions.

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This reminds me of back in the day. Some of the young folks don't remember this. We had to call collect and you get out of the movies and you'd say your parents are get a collect call from him to pick me up. You accept the charges? Maybe like no hang up, try to talk real fast if you're so old. Baloney. All right, listen, if you're out there, you've got a question. Call the numbers eight to five to five.

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Again, that's 888 255 225. We got Rudy on the line. Rudy, what can John and I do for you?

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Hi, Chris and John. It's a pleasure to talk to you both. I had a quick question on how to approach the baby step. I think it would be 3P. I'm 24 years old. I'll be 25 just a few months. Thanks to Ramsey Solutions and everything. I was able to graduate debt free from college cash flow with everything to go through an emergency financial.

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Thank you. I have an emergency fund about four and a half months of expenses, which I think is probably sufficient in general. I'm curious what your thoughts on how to approach baby step for save while saving for a down payment on a house, but then also investing should given the combination of the two things that you.

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I want to sit on this for a second. You're twenty four, Rudy. Yes, sir. And you graduated college with no debt, you got four months in emergency fund. What Frank and you live in Houston, which is one of the greatest cities in the planet Earth, all three of those things. Rudy, you're getting it, man. Congratulations.

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Here we go. It's awesome.

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Well, I really appreciate it. You know, it started when I was 18. You know, when I graduated high school, I realized that, you know, my parents wouldn't have anything to contribute and they're in debt. And I swore that I wouldn't let them do that, but I swore I would not repeat that. And the same family tree and, well, not in all of the island. So that's what started it.

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Now you're talking about all this nonsense about personal responsibility and change in your future and all that kind of stuff. What got you where did you connect with Ramsey? What got you into that into this crazy ecosystem that we got going over here?

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Yes. So a family member actually put me on to the Ramsey solution to Dave when I was 18, when I graduated. Just because you know, that my next question was, hey, you know, I'm starting college to my parents know, what can you contribute? And I learned about, you know, their situation. They were in a little bit of debt and and stuff like that. And so I decided to go to Landstar, which is a community college over here.

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Yeah, it's a great, great school system. Of course, you're going to have no debt, no doubt. No debt. I decided I had cash flow college.

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I went to the University of Houston Grand University. I think about a semester of head on cash flowing. And then also I did have a car note, which, by the way, in June, I went ahead and swallowed the golf and I went ahead and just paid it off with my emergency fund. And since then, I've rebuilt my emergency fund but paid everything off.

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Well, Rudy, I'm going to tell you about your unicorn being young and being willing to listen and not just listen, but doing it. My friend, you changed that tree will tell me this. When are you thinking of buying a home and how long? How many years?

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Well, I'm thinking probably in the next maybe two to four years, OK, it would take me at least two years to save a 20 percent down payment. OK, I'm like about 140000 dollar house.

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OK, now I would tell you this as you're looking to do that, baby, step three B, once you have that emergency fund and you have that, for you to be able to look at that and to say, hey, that's the time frame, I think you would do this probably closer to two years just the way you're wired. And I'm going to tell you right now, that's not going to be anything that's going to cost you becoming an everyday millionaire or anything to that level, the way you're dialed in and seeing it, you're going to get there.

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I would just add that money to the money market account, your emergency fund, your fully funded emergency fund, so that that money over there till you're ready and when the time comes, you stroke the check, the down payment. You do a fifteen year fixed rate mortgage. You're going to do what all the everyday millionaires are done and you're going to pay off the home in under eleven years and boom, there you are. You're going to own your home outright at the age of 34, 35.

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You're now your income is going to be growing. You're going to be investing more. You're going to make an incredible impact in the area that you decide to live in.

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And right now he's living in a great area, which is Houston, Texas, where I was born and raised in here in Rudy Man, you and this Texas stuff.

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We need more Rootes.

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We I love Texas, though. I love go down there.

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When I get down there, my voice gets deeper because Texas gets to see.

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I said it gets a little bit slower. It does the Mexican food. It's a little more delicious. Wear my boots.

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I bet I have more cowboy boots and you know, 100 percent chance in Texas. 100 percent chance, you know, if they claim you.

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All right, listen here. If you're out there and you got a question we want to hear from you. Eight eight eight eight two five five, 2005, US Kelly is in there and she's ready to take your questions. We're ready to talk with you about the things that are on your mind.

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John, I got another social question for you. All right. Here it is, Adam, from the Ramsey Baby Steps community. I know what failure feels like. So how would I overcome my fear of success and what steps should I take to push past that uncertainty?

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Most people fear success because they don't have a picture of what it looks like other than some media figure. It's it's when people want to change their family tree, they see what they don't want. Right. And they don't have someone living and breathing next to them that is living into what they do want. And so it's easy to see Michael Jordan or some famous movie star or something and see what they have and say, I want that. But as you start getting closer to it, you realize those haves come with the cost, right?

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They come with a reduced time with your kids or so or reduce time with your wife or husband. So what I strongly recommend, Adam, find somebody who is, quote unquote there, what you think is there. And I'm going to promise you two things. Number one, their life is not as carefree and wonderful and great as you think it is. Number two, if they are a good mentor and somebody that is trustworthy and is big on investing in other people, they're going to give you some ideas and tips on how to succeed in your inside of you, on your way to whatever you think success looks like externally right now.

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That's good. And I would say this, as opposed to just having this thing of success out there, which can become this nebulous, it moves a weird moving thing, I would say. Adam, what is the thing that you can do where you can make an impact? Right. Like that's where you're impacting other people. That's something you can measure. You can begin to have a feel for. But this success thing, I'm going to tell you, I've worked with pro athletes, entertainers, musicians, actors, actresses, people that the world would deem as successful.

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And some of them are beyond lonely. They don't sleep. They don't have real friends around them because everybody just wants something from them. Void of real relationship and real connection.

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It was eye opening for me. I've been with Dave for 15 years. I think it was year three or four that I went out to L.A. and spent some time with some people that were quote unquote famous and the loneliness that I could feel in that. So don't go for success, go for impact. And if you're making an impact, that's on people. And so that's what I would tell you. And just, you know, don't don't ferit focus on what can you do to help other people become better.

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Adam snuck in a second question like William did. What what steps can I can I push past the uncertainty? Here's the deal. Adam, go scared. That's still not from our friend Kristy. Right? Go scared, man. You're never going to feel totally plugged in. You're never going to feel like you got it all together. You're never going to feel like, OK, I know exactly what to do next. Just get in the ring and hit the biggest guy there and he may just fall down, hit him hard or not.

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It all depends on what you eat for breakfast. Wheaties. This is the Dave Ramsey Show. Hello, everyone. You are listening to the Dave Ramsey Show. We are excited to talk to you about your life and your money, so don't hesitate to call us. The number to call is triple eight eight two five five two two five. Again, that's eight eight eight eight two five five two two five. John and I are ready to take your call, chime in to try to help you.

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So we've got Josiah's on the line. How are you about Fred? Good, how are you all doing? Oh, we're focusing our finish. What's on your mind? Yes, sir. So my grandmother passed away back in February and she'll be leaving me and my wife and inheritance. And we were wondering if it would actually be OK to put that money into a CD, use it to pay off college and then just pay that back, or would that be like any other normal death?

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Doctor, I'm sorry to hear about the loss of your grandparent. How much is it that you're planning to get as a. It'll be right around 25000. OK. And you're saying you're planning to use it to pay off college, to pay for college? I'll be going back in January.

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OK, you're going to be going back in January. So you're going to play into how much of that will you think you need for college? Right, about if my plan worked out right around 15000, probably OK. OK, I mean, here's the deal if you're planning to do that here in the next few months. Yes. OK. I don't know if I'd necessarily put it in a CD just because if you want to get to it, I mean, we call them certificates of depreciation, right?

[00:31:28]

Because they didn't keep up with inflation. I'd be more apt to just put in a money market account. I mean, if you told me you were four or five years away from going back to school, we could talk about investing it. I would just park it in a money market account, let it sit there as you pay for college. Now that you've got it, when you have it paid for, you've got the other 10 or whatever that's there that you can use for it to start life off on the right foot.

[00:31:54]

Does that make sense? Yes, it does. Yeah, that's what I do, my friend, and but don't don't lock it away in a CD just because when you get ready to get it, you've got to wait for the CD to mature. And I don't like other people having that control over you.

[00:32:10]

I don't either. Not for a quarter of a percent.

[00:32:12]

Just because you can't get to it yet or you've got to pay a penalty. Just put in your money market account, let it sit there. And by the way, you know, people out there, if you come into some money, right, like whether it's inheritance or larger bonus things of that nature, move that money out of your checking account, have that in the money market account, because if it's sitting there, there's a name for it.

[00:32:34]

It's called Spell's. And so you want to be intentional. You want to be in control of it and make the right steps.

[00:32:41]

You know, I want to honor just say it's you here, man. What a great way to remember his grandma by investing in education so that nobody could take away from you. That could have a long standing legacy benefits. Man, good for you.

[00:32:54]

Well, and you know what? It's good you bring it up. I talk about in the first book, Return inspired a gentleman that was left home by his grandparents and he went and got a credit line on it. It was free and clear and started day trading. And listen to me now. He ran up he ran up about 150000 in line in in just that mindset. And for him, it was that feeling of he had squandered this blessing from his grandparents.

[00:33:21]

And so it's so important for us to be clear and what we're doing, take a deep breath and just work a path that's going to move you in the right direction. All right. We've got another caller. We've got Tara on the line in Modesto, California. Tara, how are you?

[00:33:36]

Great. And my husband and I are in our 70s and we both have birthdays this week. And talking to you is a wonderful birthday gift.

[00:33:45]

Oh, well, aren't you sweet? Well, happy early birthday to you and your husband.

[00:33:50]

So I have a financial question. We we don't own our own money and we only have about one hundred and fifty thousand dollars saved up. And obviously we're at retirement age. And so we're not sure what to do with that. That would be safe. And also in embedded in that question is the fact that we would like to buy a car that we don't really need, that we want to go off roading and camping and doing some things that are fun before we get too old.

[00:34:24]

And they send this off to the nursing home that we're not sure that was a good financial decision based on the fact that we don't have a lot of money saved up for retirement. Uh huh.

[00:34:34]

So you tell me you guys have 150000 saved. Yes, OK, the home you're living in, are you renting or do you own it? We own it, is that so, you know, you own it outright, correct? Yes. And how much is it worth? How much is it worth? We think it might be worth 325. OK, what's the long term plan for that house terror? Well, we we were move after we got too old to maintain, you know, all the stuff you have to do at a home.

[00:35:06]

And we also we also own a tiny rental that's only worth one hundred and eighty. But we could move we could move there in a lot cheaper to live in and more accessible. OK. And so that's the whole thing.

[00:35:21]

Well, here's the reality. As you look at this, if you the rental is paid for as well. Correct. Everything's paid.

[00:35:28]

OK, well, young lady, so you've got a net worth of close to around seven hundred thousand dollars.

[00:35:34]

OK, now, potentially, potentially longer. Yeah, but that's looking at it. So you're asking, what about this? You're wanting to buy a vehicle to off road. How did you all go off roading?

[00:35:47]

Well, we we live out in the country where we can do that. OK, we just want you to know we enjoy going out in nature, but we're getting too old to climb mountains and things like that.

[00:35:57]

Well, are you say you're seven, you're in your 70s, Terra. Yeah, we're turning 75 this week, and you're buying off road vehicle, you are you have absolutely made my day. I don't know the finances of this, but the fact that I've got seventy five year old Taraba an off road vehicles tells me things are going to be OK with how good things are going be. OK. OK, happy birthday, Terry. First of all, stop listening to John.

[00:36:20]

All right. We got to talk on the financial side of this thing. How much you think this is going to cost the car?

[00:36:27]

Oh, this, this, this, this, this. Talk about 20000, OK. And have you all saved up for this purchase?

[00:36:37]

Just the money that we just mentioned. That's all we really have. All right.

[00:36:42]

And so how many other vehicles do you all have?

[00:36:46]

We have a 2015.

[00:36:49]

OK, that's all you have. Yes. OK, what's gross income coming in right now? And we have Social Security, a small pension, and I work a little bit, so. We're keeping up, we don't spend more than we earn. OK, all right, well, you know, I'm one of those people that I'm thinking, you guys, as you're targeting this and looking at it, I think a couple of things need to be in this decision.

[00:37:18]

Right. Obviously, you're celebrating birthday 75 years young. We got to talk about the feasibility of this. Are you going to use it? If so, how much? And then the saving up for it. I mean, that's just that's going to be what I'm going to advise you to do is to save up toward this purchase because you don't have a lot that's liquid.

[00:37:38]

And so we've got to be intentional here. And so, you know, being smart, thinking about it, there's a couple of things you could do. You've got a 20, 15 vehicle that you said that's paid for outright. Do you sell it and get downgraded vehicle and then use the other money left to be able to buy the the the eight she talked ATVs. I don't know what kind of care what kind of car are you talking about.

[00:38:03]

Go ahead. We just want to smile. That's a little higher off the ground. It's a little bigger that we might be able to recline in. And, you know, just.

[00:38:13]

Oh, well, I thought you were buying a dune buggy or something, man. I thought about taking the wheels. You just want like a toddler, like an F one fifty or something.

[00:38:23]

Yeah, we've been looking at the cars that OK, they are and have a bigger area in the back. Or you might put a sleeping bag if you had to take a rest.

[00:38:32]

OK, Tara, thank you for clarifying because in my mind I'm thinking dune buggy or ATV and I'm like, I don't I don't know how long you're going to want to be bothered with this anyway. Be hating on Tara. I am not hating on Tara. I want them to think about it. So sell this vehicle, find out what it's worth. Don't Kelley Blue Book. Let's get this thing sold. Then you then you can upgrade vehicle. I don't think there's anything wrong with getting a bigger vehicle.

[00:38:56]

That's a great idea that they can camp in and do some stuff.

[00:39:00]

OK, wow. I was confused. I love that. OK, it's good to get clear. All right, listen, I want to thank my producer, Jane Childs, associate producer Kelly Daniel. I want to thank all of the callers for taking the time to call in. And I want to thank all of you for tuning in. This has been the Dave Ramsey Show.

[00:39:34]

Hey, it's Kelly, associate producer and phone screener for The Dave Ramsey Show. This episode is over. But if you heard about an event, product or service and didn't have a chance to write it down, don't worry. We list everything you've heard about during this episode in the podcast show notes section or head over to Dave Ramsey dot com and click Dave recommends. Thanks for listening. Hey, if you've got questions about retirement investing and becoming an everyday millionaire, go bigger and broader with my man Chris Hogan on the Chris Hogan Show.

[00:39:59]

I am excited to be able to talk to you all week in and week out. We're going to focus on your calls and it's going to focus on building wealth investing and how to become an everyday millionaire. Subscribe to the Chris Hogan Show wherever you listen to podcast.

[00:40:14]

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.