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Live from the headquarters of Ramsey Solutions, broadcasting from the car rental studio. This is the Dave Ramsey Show where we hang out to have a conversation about your life and your money. I'm Chris Hogan at cohosting. With me this hour is Kristy. Right. And we are looking forward to engaging with you, talking to you about what's on your mind. So we've got people out there live. It's so good to see real people looking good and smiling. And Kristi, I'm excited to be in here with you.

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Are you awake and ready? I'm ready.

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I love getting to answer questions with you because we get feisty and the combination is sometimes intense. Your intense, intense. You put us together. This can be good, but.

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Well, to ask you if you're awake is ridiculous because you're always ready to go and excited. So listen, America, we want you to call us triple eight, eight to five. Five to five. Again, that's eight eight eight eight 255 225. Listen, I have to go down and double check the number because I get in the habit of doing my show. And I know you get in the habit of doing yours where you're giving people an opportunity to be able to call in.

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So triple eight, eight to five, five, two to five or find us on social media. Now, Kristy, you without a doubt, our social media guru, you are all over the Instagram.

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I love Instagram. It's so fun. It's so easy. You do. You are you are much more video than me. Yeah. But you have a lot of fun.

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How could people find you at Cristie. Be right. OK, Kristy, be right. That's it. OK, good. Follow her. You can follow me at Chris Hogan 360 and of course you can follow the Ramsey Show at Ramsey Show. So we're excited. We've got a lot of things going on. I want you to send in your social questions. If you've got a question and it's dealing with kind of life or dealing with direction, dealing with business or money, find us on social media.

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Send in your questions. We do have some people have already sent them in and we're going to get to the phones and take your calls. So let's do this. We're going to go to Jamie is in Phoenix, Arizona. Jamie, how can Christina help you? Hi, guys, thanks so much for taking my call. Right now, we currently work as a brand ambassador. I make about fifty one thousand dollars a year, but I kind of job in my dream girls in Northern California.

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But I would be stuck to a two year contract making only about twenty seven thousand a year for the pay cut. And, you know, if it's just working, it's just for all my dreams.

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So your primary job right now, Jamie, is paying you how much? Fifty one thousand dollars salary. OK, fifty one thousand. And this dream job, as you describe it, would only be paying around 27000. Is that correct? Yeah, 27000 in the first year and the second year would raise up to about 20 to 30. OK, what's the dream job?

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Did I miss that? Did you hear? No. No, she hadn't told us yet.

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Was that the job would be to be in the broadcast news. So I would be an anchor.

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Oh, cool. OK, all right. Let me ask you this, Jamie, as we're kind of talking some of these numbers, and I know Chris is going to ask about this as well. Have you looked at the cost of living? Because California is no joke from what I hear.

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I have it live there, Jamie, but that's what I hear. In addition to the salary cut, we need to look at the cost of living as well.

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Definitely, yeah. It's it's pretty pricey. And I would definitely have to get a second job. Gotcha.

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Jamie, is that opportunity I notice you're in Phoenix. Is there an opportunity for you to do that or approach that in the Phoenix area?

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Yeah, that is certainly a smaller market. So I probably wouldn't get anywhere near a time. And I've done a lot of internships here, but usually you have to move in order to kind of climb up the ladder. Okay.

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All right. Keep your mouth shut by the phone, young lady. So make sure we hear you. So tell me this. What baby step are you on? I'm a baby, step two, so I have 30000 babies right now, a little over 30000, but I do have food and I'm trying to actively change physically, OK.

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All right. So you got 30000 in student loan debt. You set gross savings, savings in savings. What kind of debt do you have?

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Some 40000 left on a steep decline for Salvor, OK.

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I mean, I have about 37000 in student loans. Gotcha. All right, so you are this new job that they gave you an opportunity. When do you have to let them know by? In a week, wow. What's your gut tell you? Oh, God, my God probably tells me I've been talking with people nearby and they tell me just to wait, but they don't understand that you have to do that first. My gut is telling me to wait and maybe see if something comes closer, closer to home.

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Maybe I don't listen.

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Well, no, that's called wisdom, young lady. You are able to step in and look at this in a much different way. So many people would look at this with their heart that they would say, Chris, this is the only opportunity. If I don't take this, it's never going to happen. And you and I know better. You and I know that you've got to put yourself in a position to not only get there and be able to do the job, but as Christi mentioned, California, they charge for air out there like you.

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You have to pay to breathe. And I'm I'm going to tell you, I like the idea of you Polzin getting a more intentional about this debt and putting yourself in a position to be able to grab that next opportunity. What's your thought? Yeah, here's the thing.

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The idea of the dream job sounds like a dream right now. It will literally become a nightmare when you cannot make your bills and you resent your boss. You're mad at yourself for taking the opportunity. But just like we said, it's not the only opportunity. Here's what I was thinking. People always tend to think it either or it's this or that. I like a combination. So I like her staying in Phoenix, working on the debt, still doing the brand ambassador thing, but doing maybe an internship or starting to like kind of a shadow at the local news station to see what's a day like.

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Could I could, you know, do some field work, shadow someone, get some opportunity and exposure there? Maybe as you work your way into that field, your brand ambassador thing, maybe they have an option for a part time gig where you can supplement your income. Still doing that while doing some journalist work. And it becomes this piecing it together thing in the interim while you figure out what you want to do versus this terrifying leap and not making any money.

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No, you're absolutely right, because the last thing you want to do is get out there and be miserable. Right. And you can't provide for yourself. Yeah. That's going to end up being an irritation. So, Jamie, again, I get more intentional. You've got 30000 in the bank. What that means is, is that guess what? Small is the biggest cars getting paid off today. Right? You've got that. You need to pay that off.

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Then you can go down. Let's see, that's 30000 in the bank. That's going to leave you with 26. You need to keep a thousand in your emergency fund. You've got 25 K going toward that student loan that's going to leave you with twelve K. That's the bottom line. I know what I did some quick math, but we need to quickly put you in a position to be able to grab the next opportunity that comes your way. You are going to be fine.

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Keep your mind focused, start to reach out and be active in your connecting with people. As Kristi said, you've got an opportunity to do some stuff right in the market that you're in, gain some experience. What's going to put you out there and then keep your eyes open. But stay allergic to debt because debt withholds it, withhold your piece it withhold your mindset and it also can prevent you from grabbing opportunities. That's a big deal. Stay on the line, Jamie.

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We're going to send you a copy of Ken's book, Proximity Principle. I love giving other people's stuff away. So we're going to send that to you so you can learn how to connect with some other people. All right, listen, stay tuned. This is the Dave Ramsey Show. You got Christie, right? Chris Hoggett. We're feisty and we ain't finished people. This is the Dave Ramsey Show. Hello, everyone. You are listening to the Dave Ramsey Show, I'm Chris Hogan and hosting along with me is Kristy.

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Right. And we are excited to take your calls. Listen, if you have been wondering what the wrestling with the money question relationship, situation, business thought, this is the time to call us three eight eight two five five two two five again, that's eight eight eight eight two five five two two five. Or find us at Remzi show. We'd love to be able to hear from you. Now, speaking of which, we got a social question from an angel.

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Angel says Christie, I want to start a business, but the one I want to start has about a five thousand dollar startup cost. I don't have this, but I have excellent credit and I can get a personal loan from the bank. But I know how you feel about debt. What suggestions do you have for me? I really want to do this.

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Yes, OK, so I get this question a lot. And Hogan, here's the thing. People have an idea in their head that business debt is different from personal debt. It's not different. It's all debt. It's all a bad idea and it's all yours that you have to pay at the end of the day. So here's the thing. A lot of times we dream these big dreams, like I've got this Cadillac version of my business in my head and that's what I want to go for.

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What I encourage people to do is say, hey, that's awesome for a vision for the future. Let's back out of that and figure out what's the Honda Accord, you know, what's the used car, what's the baby version, the low hanging fruit, the quick win that you can start with and cash flow with cash that you have. And then what happens is and you've seen this a ton through business coaching, Chris, but what happens is you're learning about what the market wants.

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Business is a conversation with the marketplace. So as you put out your 1.0 version of your idea, your product or service, you're going to get feedback from people, hey, we love this or we don't love this. You're validating your idea. You're learning a lot about what you need to do more and less of. And then as the cash comes in, the business grows and you can put out the 2.0 version, 3.0 version. Eventually, one day you're at the Cadillac version.

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But we're not going to launch with that. Whether you're Cadillac version is five thousand dollars or five hundred thousand dollars, we're not going to take out debt to get there. We're going to start small and grow slow. We're going to learn a lot along the way and own it every step of the way. And it's going to keep our risks down. We're going to have a lot more fun in the process.

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I like that. And really also what it does Christie is it also helps to find out for people to find out how serious they are about it. Right. Like what are you willing to sacrifice? Right. Like, you know, you're going to have to give up sleep. You're going to have to sell some stuff. You're going to have less time with kids and less time with X, Y and Z. But those are all things to find out if you're seriously committed.

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Yeah. And there's a difference between being interested versus being committed.

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Let's go. What I love how Seth Godin says if you wait until you have success to commit, you'll have neither. And so you need to commit if you're going to have success. And sometimes that commitment is doing a Google search and setting aside some savings and doing some of the grunt work. That's not impressive and not exciting to get to the place that you want to be. I always use the example, the iPhone or on the iPhone eleven.

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Now, I guess they started with an iPhone one, right. You know, and then to each iteration has improved and changed based on consumer feedback. And it's no different for your business, even if it's a different industry. So just start small, grow slow, and you can avoid that debt.

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That's fantastic. So, Angel, there's there you have it. You've got that question. You definitely can get started. It's all a matter of taking the steps and doing it the right way. It's fantastic. All right. I'm going to get to the phone. But before I do, I know people right now are finding themselves getting to the end of the month and having no idea where all their money has gone. And that's frustrating and it's irritating.

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And they could start to impact all kinds of areas of your life. And as soon as money comes in, it's going right back out. So I think it's time to take control. You don't have to. You want to be the one that tells your money where to go and when it's allowed to leave. You can be in that kind of control. What you have to do is get intentional and get on a budget. And I'm talking about every dollar, every dollar will give you an opportunity to have more control than you ever thought possible.

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Listen to me. Money will obey better than children. Did you know that money will sit down if you it can't go do anything until you give it permission. But what we have to do is take control. So the best way to do this is with Ramsey. Plus you've got a membership that gives you an opportunity to get plugged in with our best money products, including the premium version of Financial Peace University, also the budgeting app, every dollar.

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And you're going to be able to budget, track and be able to engage more than ever. So you can give all of this a free trial by going to Ramsey plus today. But again, never having to wonder where your money is going.

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All you have to do is this get ready to text this word, text the word begin to three three seven, eight, nine again. Text the word begin to three three seven, eight, nine. And you can start your Remzi plus trial today. Do it, people. It's a great opportunity to get connected in community, but also it gives you access to coaches. And I'll talk a little bit more about that right now. We're going to get to the phone.

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We've got Vivian on the line. Vivian, how are you? I am so good, Christine, Chrissy, how are you both doing today? Thanks for taking my call. Sure. How can we help? Sure. So I am so close to finishing baby step two. I have read Total Money Makeover last summer. I have paid off fourteen thousand dollars in debt over the last 12 months and I had thirty five hundred dollars left on my student loans.

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That actually feels really good to say.

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Absolutely, yeah. So once I pay off the rest of that thirty five hundred I will be debt free except for my mortgage. And my question is I'm planning on moving in. I currently live in the house that I own right now. I'm planning on moving in with my boyfriend at the end of the year. My question is, do I rent out the house and then use that rental income profit to fully fund my emergency fund and then after that, pay down the mortgage?

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Or do I just sell the house? I don't really have too much experience with real estate investments. I've been renting out a room in the house to try and pay off this serious amount of debt. But yeah, I'm just a little lost on what to do. Hmm, how long have you and your boyfriend been dating? Since early this year, oh, since early this year, and so when's the wedding? Well, we haven't talked about that yet.

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Oh, but you've talked about moving in. I feel confident in that decision. I would really like to just figure out what to do with the home.

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Yeah, well, I my concern is, is that we're doing some stuff backwards, Vivian. OK, now listen to me first and foremost, let's say a hypothetical, and you go, hey, you know what? I'm going to do this the right way and we're going to get engaged and get married and say, you guys are getting married. This is a scenario in which I can give you help. Then from there, what I would do is start to look at this home and say, am I in a position to be a landlord?

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Meaning if people come in and rent and they don't pay, do you have the money to make the payment on the mortgage? That's the reality. So push comes to shove. I'm I'm selling the home. But again, I'm not going to give up my home to go be with someone that I don't know is going to stay with me or not. So that's why I'm saying I'm encouraging you to not make a financial joint decision when there's not a joint right now.

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Right. There's not a weed as a pronoun problem. There's a you and there's a he. So you want to make decisions that in the best interest of you with where you are in life and where you can be later. And I say that Christie, because I've seen people that have entered into agreements with people they're not married to and they get sideways or you change and now you've got a business relationship with someone that you're no longer connected to at the heart that leads the headache.

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Yeah, and especially the thought of, like you said, like I like to forecast and play out several different scenarios to see how they could potentially play out. I'm an optimist, Chris. So, like, in any situation, like it's going to be gray.

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It's totally going to be fine. Me and my husband have very interesting discussions about that because he's like, you know, he's like, let's be practical. And I'm like, oh, it's fine. But let's say that it's not fine. Let's say that, you know, Vivian sells her house and then moves in with the boyfriend and then they break up. And then on top of the heartbreak of the breakup and having to move out, she also doesn't have somewhere to live where she was a homeowner right before that point.

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And so it just really compounds the stress. I really do. I like your advice of looking at different hypothetical situations, seeing how that would play out, and then say, OK, I'm going to make the best decision I can today for me because I'm a me and this is what I want to do based on what's best for me. Yeah, I like that.

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That's got Vivian as you hear that again, just thinking through and planning out. And again, I like what Christine's saying. You don't want to have the mindset of best case scenario. You want to have the mindset of what's realistic. Right. And so I would tell you to hold on to your home as you're walking through and getting yourself through the baby steps. If this relationship does get serious and it does have a ring and you got to start to plan again, I wouldn't combine finances until you're married and then you can start to make those joint decisions.

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But it's important, you know, and I want people to look everybody, like you said, can assume the best. But you know what happens when you assume, right? If you don't Google it, somebody will tell you. The bottom line is that you want to be clear and you want to make two year decisions. Here's what I mean by that. I want to make a decision today that I look back on in two years and I'm glad that I made it.

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That requires us to have some forethought and some awareness, get some guidance, be smart people. This is The Dave Ramsey Show. Hello, everyone. You are listening to the Dave Ramsey Show, I'm Chris Hoggett and I've joined in studio this hour with Kristy Wright. And I was just talking to Kristy about her show, The Kristy Wright Show. And I wanted to know, Kristi, what is your show about? Is it just for women? Talk to me.

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You got all kinds of question. This is what's been fun. So you know this. I have helped women for years on starting a business. Yeah. I love helping them start businesses out of something that they love. And what I've learned along the way is that what they want more than a business that they love is they want a life that they love. And so we've really expanded. It's not so much pivoting as expanding. And now I'm just helping them in other areas of their life.

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Because what I noticed over the last couple of years, Chris, is women would listen to the podcast, come to the business boutique conference, buy my book, etc. and I would say, well, what kind of business are you working on? You know, what's your idea? Oh, I don't have a business. You just help me with my goals or you help me push past my fear or you help me, you know, chase my career dream or whatever that thing is.

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And so we thought, hey, let's let's listen to the market, like we say, and we're going to start to help people in more areas than just business. So we really started with the first five episodes in June being focused on helping women build confidence from the inside out, focusing on their spirit, their mind, their body, their relationships and their resources. And now we're just kind of doing deep dives on those topics. We're talking about how to have more time, how to have more energy.

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What is life balance? Is it possible? So just real practical day to day things that we struggle with. And it's not just for women, even though mostly women watch and listen at things we all struggle with, you know, in the busy culture that we're all in trying to make it.

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So how do they find the show? Yeah, so it's on YouTube, the Christian Right show. It's a weekly show now, which is really fun. And then also, of course, you can listen to the audio on podcast. Whatever you listen to podcast, it's it's been really fun to go to do that.

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Just a couple questions here, because you said it's not just for for women, as Rachel Kroos been on the show with you.

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Yeah, I'm in trouble. Like a commercial, right? No, we didn't get to focus. Look at me. Has Rachel Koosman been on the show?

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Yes, she has.

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Chris Hogan been on the show. Now, listen, you were on recently on the business boutique podcast. We do need to bring you back. I need to bring you back. I can't even look at you right now.

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Now, listen, Kristy, it has energy. And I'm gonna tell you right now, male or female jumping in and being able to hear from this young lady who has a fire in her spirit and a love for people and a desire to help you push past whatever standing in your way. I highly encourage you to get engaged with it and listen to the content and not just listen, but apply it. And I'm proud of you and I'm excited for the direction you're going.

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I know you're going to make an impact. You're so I really do really do think. All right, listen, everybody, I've got to show as well you can plug in. It's Chris Rock and the Chris Hogan Show. We take callers. You can find out more about that at my website.

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Oh, tell them the episode that I was on. Wait, wait, wait, wait a minute. Hold on. Kristen. I'm sorry, Mike.

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Now I'm over here in the big chair. Leave me alone. All right, listen, we want your calls out there. Call us triple to five. Five to five. Again, that's eight eight eight eight two five five two two five. I don't know why I can't learn to stop when I'm here messing with this fireball over here. All right, Mark. What? Rescue me, my friend. What can Christine I do for you?

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It's OK. And thank you for taking my call. I just retired yesterday after a 30 year career.

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Oh, Robert, graduation's. Well, thank you so much. And I am better than I deserve, I promise it all, brother. I just I just want to run some numbers by you and just confirm what I feel that we're confident maybe step six. OK, our only debt, we're debt free except for our home. OK, we owe sixty nine thousand on that and we probably have one hundred and fifty thousand dollars equity in it. OK, I have a for one that has five hundred and thirty four thousand in it.

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Mm hmm. I have an IRA that has 240000 in it. I will receive an annual pension of just over fifty four thousand five hundred a year.

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And my wife's for one current four away, one has over six hundred and fifteen thousand dollars in it, and she will continue to work for another, probably another four years in her annual salaries, over 70000.

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OK, and she's going to continue to work. How much longer? Probably three and a half to four years. OK, Mark, what's your net worth ballpark? Just give me a rough night, know what? Well, one point one million, you're actually more than that, my friend.

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You are everyday millionaires and you are. Yes, sir, you are. And without a shadow of a doubt, only own sixty nine thousand dollars left on your mortgage. You all zeroing in on that and being very intentional. You're going to be more than OK. You're going to thrive, my friend. Well, I appreciate that. Thank you so much. Great job, great job. I just needed some confirmation now.

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But listen to me. I understand and I want you to do something. I want you to still connect with the smart Vesterbro, just you and your wife together to go in and sit down and have them look over things to figure out. Are there some minor tweaks because small tweaks can lead to big gains. You just need to have some the right kind of eyes. Mark, I need to know to my friend, because I've got a lady over here is going to ask you here, what are you going to do now that you've retired?

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I've been asked that question several times, and my response is whatever I want. Yeah, there you go. That's it. I'm proud of you, my friend. And congratulations on being everyday millionaires and sacrificing. You know, Kristie, I tell people, you know, you want to when you retire, you don't want to leave to go do nothing. Right. I think it's important to retire and go towards something. And that might be more mission trips, more giving, more hanging out.

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But you need to have a plan. Yeah.

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And I think one of the cool things is once you've passed that major milestone in your life, you have a blank slate. You have so many options that you can look at your life and look at this next season in this next chapter with a fresh perspective that you didn't have before because you were finishing, you know, that season and now you can go, hey, what? Don't work at a coffee shop, do it. I want to work.

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Move to the beach.

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Do you know what does that look like? But I love that because you're going to want to get into something. And and that's to be fun to think about what all options you have.

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No. And you definitely have options and options are a good thing. Again, you all I want you to send your questions in to us at Ramsey Show. You can hunt down, Kristie, on social media at Cristie Be right. And you can find her on YouTube at Cristie. Right. You can find me at Chris Hogan 360 here. I got a question in social media for me. We'll both chime in on this. That's from Aiden, from YouTube.

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He goes, Do you consider being on a contract with your cell phone company, a form of debt? We basically owe them our business for two years. I don't like being locked into their contract. OK, so you're on with the cell phone company. You've got an agreement, right? And so you have you have a service provider. The same thing would be like with a cable bill, right? You've got a cable provider. So necessarily looking at this, no, I'm not counting that as quote unquote, a debt.

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It's a service contract that you have. Now, if you financed your phone and you're making a payment of thirteen dollars a month for the next seventeen years, then yes, I would call that a form of debt. But you can move your service provider to another provider at any point in time. So. Yeah, but hey, don't don't be too concerned about that. Be more focused on, hey, what are my options as I move forward.

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I'm curious about this though. And and I'm really asking you this, Hogan, because I've heard that the way some cell phone companies are set up now with the phones, that they forced you to finance it, that you can't buy like an iPhone, for example, outright whatever it costs, a thousand dollars, whatever that you actually they put you on a payment plan for the phone.

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So I'm curious about that.

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I would I would want to look into that because I've heard they've been kind of changing. Right.

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You know, the way that that's how they get you with these introductory offers. Are you coming over with no money down or they'll get you out of your existing contract to come to them? Yeah, I'm not financing a phone. I mean, you get into that situation then, yes, you do have a debt because you have an item that you're making a payment for. So, yeah, I don't I would encourage you to avoid that. Like the plague.

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You don't want to phone that finance phone. Here's the thing. People don't know how to count, like the interest rates that that go into that where they have you at fourteen, fifteen, seventeen percent. And it's ridiculous. So, yeah, no, I'd go back to a flip phone from Chris. You don't know what a flip phone is. I do. I had a pink Razr. You're a millennial. I had a pink Razr. Did you really flip on it.

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Okay. All right. Well maybe you do. All right. You all stay tuned. Christine are coming back. This is the Dave Ramsey Show. Hello, everyone. You are listening to the Dave Ramsey Show. Chris Hogan and hosting along with me this hour is Kristy. Right. And I need to give a shout out to the Ramsey Show's YouTube group. This this group is on fire. They do a fantastic job. If you're not joined in and not following the Ramsey show on YouTube, you should get over there.

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There is a great group of people on here that have feisty conversations. They were getting on me about the cell phone situation. But again, it's all a matter of being plugged in. That's what we are about. And we found that life is not meant to be done alone. And so if you find yourself alone, there's so many groups you can plug into, whether it's Ramsey. Plus we have an opportunity to be in the community. There's a Ramsey baby step community that you can plug in.

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And I have an everyday millionaire Facebook group that you can plug into. And Christie has a business boutique community that you can plug into. So there's always groups and ways you can feel connected, even during this corporate situation where people are feeling more isolated right now more than ever. And we've got to be intentional about our connection these days.

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Yeah, I think it's one of those things, too, where you can feel stuck and it's because it's familiar. You just stay stuff like, well, this is just as good as it gets. This is how it's always going to be. We'll just live with these problems. I accept these problems, you know, deal with these problems. But it's like there's there's things that you can do, whether it's like joining Ramsey, plus joining one of these Facebook groups reading Total Money Makeover, you know, listening to your show, that one small thing can make a huge impact.

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It can truly change the trajectory of your life. And then you look back, why didn't I do that sooner? Yeah, today could be the day. Today can be the day that you do something that literally changes your life. Don't just listen in the car, listen on the treadmill, listen on a run outside, actually do something about what you're hearing. It's what you do that it's going to count. I tell people this all the time because it's not the thought that counts.

[00:30:40]

Who made that up? It's not that no one brags about what their husband thought to buy them. It's what they actually do. What you actually do that counts. So don't just listen, do something about here. Here's why Christie gets fired up even more.

[00:30:58]

There are beautiful people out there in the audience that are watching us and the ladies are all nodding their head. Yes. Giving her confirmation so she's getting more feisty. You are correct. It's not just the thought.

[00:31:08]

You have to act on it, OK? It's the thought that counts is what you actually do that.

[00:31:15]

Can you take a sip of water, whatever you got over in that cup? We're going to the phone lines now. We're going to see things on the line here. Let's see here, KSE, tell us what's your question? Oh, hi, Chris.

[00:31:27]

My Christine, thank you so much for taking my call.

[00:31:29]

Hi, sir. So I'm currently working in an intern position that's about to end in about a month for three more paychecks to go, and I want to know, should I take my savings and invest it in starting trading the foreign exchange market? Oh, OK, to start trading and what again? In the whole exchange, might OK, exchanging currencies, yes. OK, so why are you interested in this as a possible career? Well, one of my friends who I mean, he knows how to make money, like he just makes money anywhere.

[00:32:10]

He started trading and he's been posting like this that he can make like a thousand dollars a week and has been really, like inspired by watching him growing. And I want to know if I should take that as a possible opportunity to make, you know, additional income, because my job that I have now is going to ensue. OK, gotcha.

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So this training that you would pay for, how much is the training? It's two hundred and thirty five dollars to start training and 50 dollars about approximately to start investing in your live account. OK.

[00:32:48]

And are you paying a company or are you paying your friend? I'm paying the company Japanese yen, and I am a. OK, gotcha. So, all right, tell me this. Where were you on the baby steps? So I was going to but then I'm going to sit back, so I'm currently No. One again. OK.

[00:33:10]

All right. And what is your household income right now on this job? Right now, it's about 35, OK? And so what this trading thing, what what are you excited about with it? Just having another stream of income, honestly, I live paycheck to paycheck, right, to be able to make money while I'm free. That's awesome to me, you know. Yeah. So I'm thinking, you know, why not? Let me see.

[00:33:38]

How old are you? I'm 22. Girl, listen to me, all right, listen here. First of all, this trading thing, it is a how would I call it a mirage? You'll have people that will brag about how much money they're making and how well it's going, what they don't talk about or the losses.

[00:33:57]

I would tell you this, if you're interested in the financial world, there are many other avenues for you to go that aren't going to cost you money, but you can make money. Does that makes sense?

[00:34:08]

And so what I would do is I'm hesitant of this because it sounds like a get rich quick scheme. Yes, it does. It really does. And those things are on late at night. And and it sounds easy because it's just two hundred and some dollars initially and then fifty dollars of this and that. The next thing you know, I've worked with people that have tried it. They're 1500 to 2000 dollars in it within a couple of months. I don't like the sound of it.

[00:34:31]

OK, I like the idea of you as a young lady being intentional and on a career path of moving forward. So I would want you to do this. And Kristie, I want you to chime in. I'd much rather you dust off your resume and start to reach out to people that you know and let them know that, hey, I am looking for a career or a job change. This is what I'm looking for. Push it out there.

[00:34:53]

You need something with some stability so you can start to move forward and attack this debt.

[00:34:58]

Yeah, I don't know enough about this company or this opportunity to be able to speak to the details. But I'll tell you, everything in me is just going off red flags, like everything in what you said to me is like, no, no, no. If it sounds too good to be true, it's because it is. And most of the people I know that are making really good money and investments aren't posting about it on Facebook. I'm just gonna leave it at that.

[00:35:20]

Like, if you're in a legit financial industry, you're probably not bragging about it and Facebook posts each week. So I don't know the company. So I can't say definitely, you know, but I'm telling you, everything in me felt my gut is this doesn't feel right. I would totally. Your advice?

[00:35:34]

Well, that advice and it also can sound like one of those pyramid schemes where you got to bring people in and as you do, you grow. And I'll tell you those things. I want you to get your teeth in a career that's going to have a trajectory for you. And again, you're young. You've got opportunity. What you want to do is start to plug in, build your networks, build your mentors, and really start to look at something that's got a path for you.

[00:35:57]

But if it's a get rich quick, I'm going to tell you right now there's red flags. I agree with you, Christi. Those things lead to headache and heartache. You don't want it. You don't want it. OK, let's let's get here. We got Dave on the line out of Wisconsin. Dave, how are you? I am doing great. I'm enjoying the show. Well, thank you, sir. We you. Yeah, I'm thirty three.

[00:36:18]

I make 80000 dollars a year. I have one hundred and thirty thousand dollars in student loans. Mm hmm. In my in my retirement plan right now, I have eighty five thousand dollars on the floor, one k but I also have twenty five thousand dollars in an employee stock purchase plan. And I'm wondering if now's is a good time to take the employee stock money and put it towards my student loan.

[00:36:47]

Oh OK. Yeah. Now with it, it's all a matter of going to be a matter of obviously the price. Right. Of that of when it vested. Is it all vested. Meaning it's all yours right now. No, yeah, about half of it is not OK with it, what I would do is reach out to one of our indorse local provider tax professionals so they can run the numbers on, hey, when you were gifted this and the value of it, if you were to sell, this is what would be counted as income.

[00:37:16]

So that would impact your taxes. So that's the big thing in my mind. It's just a matter of are you ready for that? And can you afford that tax hit? But I like the idea of taking any kind of non retirement investing and using it toward debt. So, yes, I definitely would go that route and attack that again because it's not retirement. Now, this is this was in the form of an IRA or 401K for O3b or something like that.

[00:37:41]

That absolutely not. I'm going to tell you, don't touch that. But employee stock, without a doubt, you can totally do that and throw it toward the debt. What I would do, again, meet with the tax help, find out what that's going to be, understand how much money is coming to you and the date that that money hit your account. I want you to then immediately write a check toward the student loan. Don't let it hang out there, because if it does, it's going to call off and go somewhere else to malls and restaurants and things of that nature.

[00:38:08]

All right, listen, I had thought this is so great.

[00:38:11]

They need to let us do this more all the time. All the time. Specifically on Fridays were extra Friday. We are fantastic in here. Well, I want to thank Christy right. For taking the time to join me. I want to thank all of you all for tuning in. This has been the Dave Ramsey Show.

[00:38:40]

Hey, guys, this is Kelly, associate producer of The Dave Ramsey Show. Did you know over 16 million people listen to the Dave Ramsey Show every week. And a lot of those people listen to one of our 600 plus radio stations across the country. Find a station near you. Head to Dave Ramsey, dot com slash. Money isn't the only thing we talk about around here, get life changing advice on your career from my good friend and career expert Ken Coleman.

[00:39:08]

Oh, my Ken Coleman show. According to a recent Gallup poll, nearly 70 percent of Americans are disengaged at work. If you dread going into work every Monday morning and you're just trying to make it to the weekend, the Ken Coleman show is for you. Everyone has a sweet spot. Your sweet spot is at the intersection of your greatest talent and greatest passion. We will help you discover what it is you were born to do, and then we'll help you create a plan to make your dream job a reality.

[00:39:37]

You matter and you have what it takes. Join the conversation on the Ken Coleman show here. More from the Ramsey network, including the Ken Coleman Show. Wherever you listen to podcasts.

[00:39:49]

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.