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[00:00:23]

Live from the headquarters of Ramsey Solutions, broadcasting from the car rental studios, it's the Dave Ramsey Show where debt is dumb. Cash is king in the paid off home mortgage has taken the place of the BMW as the status symbol of choice. Ken Coleman Ramsey, personality host of The Ken Coleman Show, best selling author, is my co-host.

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Today, the phone number here is triple eight eight two five five two two five. That's triple eight eight two five five two two five. Tom starts off this hour in Huntington, West Virginia. Hey, Tom, how are you?

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I'm doing great. Thank you for asking. How are you doing? Better than I deserve.

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How can we help? Sure, so I am blessed beyond belief, I have a job that I love and as part of this job I have to travel between eight and 10 times a year. My company is very big and they have very specific travel requirements. And that means that I have to use the hotels that they they specify and the car companies they specify. And some of those require that I have a credit card in order to make reservations with my wife.

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And I have followed you for a long time and I don't like the idea of having a credit card. Is there any option that I have here? Probably not. OK, I've kept a credit card with the debit card will work for dollar car rental, but it won't work at most of the others without a big hassle. I'm a little bit surprised that if they require one certain. Rental car company that they don't I mean, every hotel just about take a debit card now, so that's not an issue, but the rental car companies, many of them don't.

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And so I'm surprised they don't have a corporate contract with them.

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We have a corporate contract with Hertz and with Dollar Dollar is owned by Hertz, and so when our people travel, they just put it on our corporate account. They don't run their own cards in their own Aakash or anything when they're checking in.

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Yes, so we do they require you who do they require you rent with? It's mostly Avis and we have to pay for it ourselves and then we have to submit reimbursement after. And all this will not take it. No, they won't. You're right. You know, the complete twerps about it. So the other I mean, the other thing I would do is, I mean, you can continue to mess with this whatever you want, but you're not going to get Avis to take a debit card.

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If I mean, I would ask the your supervisor why we don't have a an Avis corporate account that I can't just sign for and go in and it built directly to the company. It's a reimbursement anyway. Why don't why do they make you put it on your personal stuff? Why do you need their big why do they need to borrow money from you. Sure. And, you know, I would just push back a little bit. I mean, not to be belligerent about it or something.

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The other thing you could ask for is just ask for a company credit card. If you're asking me to travel and you're asking me to do specific things that require a credit card, I don't have any credit cards. So you need to furnish me a company credit card. OK. I mean, you can ask for some stuff like that that would solve it, I don't know, you know, depending on how bureaucratic and they may just look at you with their eyes cross and go, we know, you know, and then you might just have to run a credit card.

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For one thing, the danger is, as you're walking around, was, you know, this thing in your pocket that can really cause harm to you. And so you've just got to be uber, uber careful with it, I mean, you're carrying around a vial of nucular substance. You know, you just got to be real, real, real gentle with it and, you know, keep it only keep it wrapped in padding and only use it when it's, you know, when it's necessary in this kind of thing and not just go, oh, whoa, whoa, you know, we're out to eat.

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And I do have that card back there. No, no, no, no, no. These are only reimbursable expenses. And you just got to be super, super careful.

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But I would push back against it. And you love your job. So I don't I'm not asking going to quit your job or be belligerent about it or something.

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So, I mean, you know what? He's also disciplined enough. The very fact that he called and he wants to talk through that, you're not violating, you know, some, you know, unbelievable Dave Ramsey clause. I mean, you've heard the man himself.

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Well, I guess you're right. If it's if he has to have it. But I mean, if he's only using it for that, he doesn't have any choice. But I like the idea of asking for the company credit card. The problem is a lot of companies, they can't think outside the box like that. When somebody wrote a policy at some point and they're like they can't get outside of that.

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Well, I mean, it is interesting if you think about this, here's what corporate America does to people like this.

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They ask you, their employee, right, to borrow 4000 dollars for them, for lodging and rental car and client entertainment.

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You you know, you the employee who makes a one one millionth of what the CEO makes are supposed to finance this company's behaviors, this company's requirements for them, and then ask for your money back. This is the crap that corporate America pulls and gets away with. I mean, when you really put that in perspective, it's absolutely asinine, it's ridiculous, but, you know, you know, you don't have to get mad about it and quit. You just got to.

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But you just kind of have to go.

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Things I think about, you know.

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Yeah, like I was telling Rachel the other day, she's making fun of me about these electric cars.

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So what did you say about electric cars? I was in the car. I was in a meeting for we're building another building. And I was in the meeting with the architects and they go, OK, we got to have these electric plugs out from these electric cars.

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I said, why is it is it code? Is it code? I can hear you now.

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And they said, no, it's not code, but everybody does it. I said, well, that's a good reason I'm not doing it. Yeah. So and we've got the electric plugs out front of this building. Right. We're putting them out for the next evening to OK. And so the team members and once it's like we need more plugs because people can't not a not enough people can plug their electric car in out there and we need more plugs.

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And I said, why is it how did it happen in our culture to where I buy some employees fuel for their cars? Yeah.

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As the owner of the building. But I don't buy fuel for the other employees. So I'm thinking we need to put in a gas tank out there. Well, Kelly, Kelly thinks we need one. Well, she wants free gas. Well, I don't understand why some Ramsey solution.

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I think I think it's I think electric. I don't gets energy is it's energy ism. You know what I James, I would like to talk about getting angry.

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I am discriminating against some employees and not others. Me, I have never gotten a Ramsey gas card right there.

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There's not a cause. There's not one I would fight. You don't have one?

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Well, I would file a grievance with H.R., but you'd punch me on the air and then everything would go bad. It would just it would be ugly. I would I would mess with you in front of millions of people that Rachel didn't like that. No, but Rachel, she did that because she'd argue with the post. But that's fair.

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But the that's also accurate is so interesting. We just did that and nobody thought anything about it. I am buying fuel for some people's cars and I'm not buying feel for others. You are. So it's the same crap. It's you know, why why is it corporate America gets away with this crap and they get people to charge four thousand dollars worth of stuff they're doing on behalf of the business? It's a business expense. The business ought to bear the expense.

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I have an answer now. It's going to sound simplistic, but you got to really get the the gist of this. The reason corporate America does that is because enough people don't go, why don't we do that?

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And I don't believe in credit. It's bad. And I've gotten out of debt and I cut my credit cards up. I'm a good employee. Are you open to the concept that you get me a corporate credit card? It's the same thing. It's still a transaction. Why are we adding an extra step? Because that's what they're doing. And challenge the process, as Dave said, in a respectful way. You don't raise a bunch of Cain, but you got to start asking questions.

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Five times in my coaching career, I've had people come home and file the expense report and the company went in Chapter 11 and happened bearing the burden of that debt for that company. That's a big risk. This is the Dave Ramsey Show. You know what angers me as folks are going through some really hard times, identity thieves are using every opportunity to prey on us. The scams are endless. You need to be prepared. Zanders I.D. theft protection is the only plan I have ever recommended.

[00:09:08]

And I've looked at them all. They just do everything in a smarter, more affordable way. Look, most of these plans are just a bunch of hype, not Xander. That's why I recommend them to you. Call 835 642 82 or visit Xander Dotcom. Ken Coleman, by the way, that's not weird, but Ken Coleman is my lawyer, who's my co-host today. You're on the air. My personality, this is where it August is national.

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Make a month. Oh, who knew? That's so positive and delightful.

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Who cared again? Apparently we did. Well, you do need a will and I guess you need a month to remind you. If you can have dollar day, you can have month national, you're going to die. Make a plan month.

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Well, you need to do that. That's true. It's true. If that is true. Yeah. And it's just weird. OK, it's a thing I'm going to challenge. Those of you that don't have a will that's current to get your will, because this is apparently the best month to do it. That's an easy way to start with our preparation checklist. It's a free guide that'll help you think through the big seven things that you need to consider like guardians, beneficiaries.

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What happens with the little things you haven't thought of, like even your social media accounts? OK, is that is that a thing I need to worry about? That's the things.

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I don't worry about it while I'm alive. So I guess I'm not worried about it when I'm dead.

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But anyway. All right. So you do need to do well for sure. I am worried about that. And there's free checklist is a good way to help you get going. So once you got your plan, could drop it into an online will in about ten minutes. And it does cause you to think about important things. Everyone should have a will. 78 percent of Americans die without a will. That's stupid.

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You need a will and Augusta National make a little money. So here we go.

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Text the word will to thirty three 789. That's Will two three three seven eight nine. Julia is in Maryland. Hi Julia. How are you.

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Finally good. Thank you for taking my call. Sure. What's up? So I have five hundred and three thousand dollars in debt right now outside of a mortgage. Good Lord on what?

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Three hundred and thirty of that is for my student loans, 40 is from his. And then we've got to sell 90000 in credit cards and personal loans. We were actually living in our garage last summer trying to get our house ready to move into. But we've we've been trying to minimize our cost to pay things down, that it hasn't really been a good situation. Are you a doctor or a lawyer? I am a nurse anesthetist.

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OK, so what do you make? What's your household income? I bring home about eleven thousand four hundred a month. You're not working on. That's full time. That's a net net of what? You should be making twice that. So I make two hundred thousand a year. Yeah, and you just starting so I started in May.

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I had a premature baby and I was home for a while, and now my husband is staying home with the kids. So you have a new you have a new a new career in this, OK?

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It'll take you a little while, but you should get up around 300 and you have way too much coming out your check.

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Eighty thousand dollars is coming out of your check a year. Yeah, I get paid every other week and I get fifty seven hundred each pay. I know it's wrong. You don't have 80000 dollars in taxes on 200 K, your withholding is screwed up.

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Oh, ok. Bad. OK. OK.

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Are you putting a bunch of money in 401. KS or have you bought a bunch of crap down at the office that's coming out of your check.

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Nothing. No, just my health insurance comes out and since my health insurance is the only thing that comes out each year, I have nothing for one case. I have no because we're we're on bit at number two. Trying to work on paying this off.

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Yeah. How how old are you two? Thirty two and thirty four. We have a wonderful career field in the ability to make a lot of money and you have made a huge mess with your finances. And so you're going to really spend the next several years cleaning up that mess with this wonderful career. Bad news as you were in a deep hole. Good news is you've got a pretty good shovel. So my plan is we were going to put sixty five hundred dollars a month for debt is what we have been working on.

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Well, that's not enough. That's only seventy thousand dollars.

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You're going to be in debt 15 years doing that. You need to put 200 a year on your debt and go make 300. There are actually not enough jobs at that price. I think this is actually one of the better paid positions that you can find.

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OK, your brand new at this. That's just not true for three years.

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OK?

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OK, I mean, I, I've worked with people doing what I do for 30 years nursing this. This is kill it. I mean, you can kill it with that. I mean and you have serious bank. You're going to you're going to need to really crank up your hours. You're recovering from a pregnancy that was premature. There's a lot of emotion in that. You've graduated. There's a lot of emotion in that your family's been in therapy.

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Well, there's a lot of emotion in that.

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And you're looking at this pile of mess that you've done, an unbelievable student loan debt and unbelievable credit card debt.

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And you guys are going to have to really sacrifice.

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You're going to get on beans and rice and you got your income way up and your expenses are way down and get very, very, very, very, very organized.

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If you do all of that and you go bananas, it's going to take you three years. You have three years of hell in front of you to clean this mess up or you have no life for the next 15 years.

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One of the things she brought up, Dave, is that her husband has come home. So I'm presuming that he's not working because he's there helping out with the baby and so premature, baby. Yeah, yeah.

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And that's tough. But in this situation, my my mind, I want to know if this is if this is what you would have said. But my mind goes to look, he needs to get back to work and we've got to come up with another plan for somebody else to be there, maybe a family member and grandmother who we know from church or the community. That's a very solid lady, but that we trust the babies with.

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That's one of the big ways it can get their income up, yes or no, depending on what his career is and what the depth of care for the premature child is. But that's you know, but I don't know what you know. That's right. Along with developmental things or whatever, they're depending on what they've gotten into. But that got to take care of the baby for sure.

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But if the baby is functional and doing OK, then yeah. And your husband can make some money if he can make a hundred and you can up your income to where it ought to be, you guys can clean this mess up fast. But this is this is a mess and it is not going to go away until you stand up above it and start smacking it really, really hard.

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And you should not be coming home with eleven thousand dollars a month on a two hundred thousand lower income. That's a hundred and twenty six thousand dollars a year, one hundred twenty seven thousand hours a year.

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And that means you got 80000 almost coming out of your check. That just doesn't work. There's something wrong with that. And we need to get your income up. So you need to check on your withholding, make sure you're bringing home the right amount, get with a tax person, get home with as much money as you can get home with, increase your income. He increases his income. We cut down all expenses to nothing. We sell so much stuff.

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The kids think they're next. And you're going to have to really, really lean into this. We'll put you in the Ramsey Plus for a year. I'll pay for it. And that'll give you the support team around you and some coaches around you, as well as going through Financial Peace University and getting on the every dollar budget, because you're going to need all the help you guys can get.

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This is doable, but only if you own it and tear into it.

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It's very, very doable. Hold on, Kelly. I'll pick up and we'll get you guys signed up for Ramsey Plus and put you into Financial Peace University in the process. So can.

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Even extremely lucrative careers do not justify ridiculous student loan debt. No, because when she started this process, her mind was binary. And here's how most people think.

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They think I can go through thirty thousand hours in debt because I'm going to be making two to three hundred a year.

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And that that justifies that. Oh, didn't take into consideration that we might have a premature child. Didn't take into consideration that a baby might need this. We didn't take you know, let me tell you what's going to happen. You don't know what's going to happen and that's what's going to happen. Yeah. So when you run these little linear binary things, you people out there and you're saying, oh, you know, it's 200000 thousand dollars to go get med school, it always works out.

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It don't always work out because nothing ever works out the way it's supposed to. That's right.

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And here's what's happened. The agony of waiting is always better day than the agony of suffering. We don't like the way we want it now, but she would have been better off waiting, saving cash, flowing her way through it. And when you step into that work, you're making great money and you're not miserable and suffering through unbelievable debt. Yeah, this is a mess. Sahak, I'm so sorry for him. This is the Dave Ramsey Show.

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Ken Coleman Ramsey, personality host of The Ken Coleman Show, is my co-host today here on The Dave Ramsey Show on the debt free stage right here in the lobby of Ramsey Solutions. Diego and Gina are with us. Hey, guys, how are you?

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We're great. How are you?

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Better than I deserve. Welcome. Where do you live?

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We're from Fort Lauderdale. Oh, cool. Welcome. And here to do a debt free scream.

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That's right. How much have you paid off? We pay it off 297 thousand dollars.

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And how long did this take? 18 months.

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What? Oh, yeah, 19 months ago. Gazal intense and all the way. What was the range of your income during this time?

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Well, we started the process at 300000 recently. We just switch off so we can really disclose the now amount. However, what you said is true. We focused and we were able to increase it at a good amount since then.

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Huh. What are you guys do for a living?

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I'm a lawyer at a big firm and Diego Works and health care management. OK, hospital. All right.

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Very, very good. Good for you guys. OK, so we're we're started at 300 making north of 300. So you can upload this to 97 and 19 months. You sell something big.

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We had a very small little safety net savings that you held onto really tight, but that's all we put down.

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And everything else was rice and beans, basically, and really, really focused.

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So two hundred and ninety seven thousand dollars that had to be law school.

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Yup. It was primarily law school loans. And then we had two car notes which were relatively small compared to our law school loans. The majority of it was loans that I really thought I would have for the rest of my life.

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I can't get over the fact that guidelines up for you guys to be on doing the debt free scream right after we took that other call with the lady with a half a million dollars of student loan debt, you know, and you guys have three hundred thousand dollars and you knock it out 19 months and all you did was Jack, your income's just exactly what I told her to do, right?

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Yeah. We tracked our incomes and we lived on nothing, honestly. I mean, absolutely nothing.

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We lived on absolutely to the point that the health care executives around Diego and the lawyers around you thought you were freaks. Completely crazy.

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That's about right. Yeah. Yeah, we I said no a lot of times. Yeah. And I don't care what you think.

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I'm getting out of this mess. That's right. What got you this fired up. You want to take that? Yeah.

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Well, if we actually heard about you and the past, one of my good friends, Justin, introduced me to you. I actually did a class with him. And I told my fiancee at the time, hey, great, here's an Excel sheet to prove it. Then we got married and we talked through it and we want to know. And a vacation, you know, we we didn't take any. That's at least like your wisdom was in the back of my mind that at least anything but we were saving for vacations.

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But every vacation we took was was pretty good. But it was kind of on a budget and we were in a very small budget.

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Yeah.

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So we were doing pretty good things and and not having like, the one thing that we wanted because we had loans and we had that. So we had to always scale it back a little bit. We went to vacation in Portugal and we got a pretty nice Airbnb. And when we did, we in Portugal and Portugal, this is no budget deal.

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Okay, forget Portugal. Yeah, we got a really good deal on flights. Yeah. Portugal, it was a tricky. Yes, yeah.

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But yeah, we saw it and you know, she's very convincing as I can tell. Yeah. And after we did that the we showed up to this Airbnb. The cheapest was in December. So it was ice cold. There was a barking dog, there was no heat. And the Airbnb it was graffiti on the walls were like, what are we doing, Jane? Like, we're always going to have a pretty good something or you're always going to, like, scale back what you really want to do because you owe money, because you have this loan.

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So we said a decent trip. We came back and I'm driving to work and I got the phone call. She calls me up, says, you know, I've I've been doing some math. And I think that if we really, really focus, we can pay this off in like two years. Like, sounds great. As soon as I get home. Let's talk through it. I think God, I think Uncle Dave finally is coming together.

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I showed off. I had Excel sheet, but I had it all written out. This is how much we're making if we scale it back. We didn't have anything else except for these loans. Basically said if we do one focus, too, let's actually come up with like a really good written budget and three. Combiner incomes, now we're going to be in the same boat rowing in the same direction, but if you're willing to do this, so am I.

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And actually today I think we could probably do it in like 20 to 22 months and 19 months later.

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Ding, ding. It was game on. Yeah, actually, I was 18 and a half months and that was like, well, you two are buddies.

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I mean, you're like a power couple. You're both high performance engines. And you were just not even you were just not aimed at it. And when you combine your power and then you aimed at it, both you and you, you did sacrifice.

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But I mean, you also created some dadgum huge income during that time.

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Well, that was it. Yeah, that was it. We're like, OK, we have a big hole. We need a bigger shovel. And little by little working together like and working a lot and working a lot.

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A lot. A lot. Yeah. Yeah.

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This is how you get out of a big hole like this. And you guys, you're so you're inspiring. That's a very well done heroes. Very, very well done.

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What was the toughest part for you?

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I mean, I think this is a lot tough for a lot of people, but just like saying no and missing out on, you know, experiences with friends and saying no to going out to eat and things like that. But just practically for me, I love to cook. And I felt like our grocery budget and the way we shop for groceries in general changed so much. Like I said, we scaled it back to like nothing. And so everything was like frozen foods.

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Oh, gross.

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And so every week we go to the grocery store and it would be like straight to the frozen foods aisle and we'd have this like fish. We would always buy this this frozen mahi from Trader Joe's.

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I love it. I told Diego, I said, once we get out, I will never eat that crap again. Like we can never eat that frozen mahi from Trader Joe's. I love it, but that Mahi got us out of debt. So for me that was just tough. Just, you know, we know that you're done.

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Does it not seem like I mean, when you're in the middle of it seems like it takes forever. And now that you're looking back, it's nineteen months ago. That was an eye blink.

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Yeah, it was exactly. I think it was it wasn't that long or that many knows when you really look at it, but it feels like it's just like, oh, you have to do a little whining while you're doing it.

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You know, they wouldn't be the same without some whining.

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Yeah, same thing. Like like a year from now you're going to wish you started already, right?

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Yeah. So we just decided to rip off the bandage and really I think it was just short term sacrifice. Give us a lifetime of rewards later. So good line. Yeah, that's good.

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Was it worth it. 100 percent. Oh absolutely. All that suffering. You're telling me right now that it was absolutely without a doubt. And my it was it was absolutely worth it.

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You know, we, like both of our grandparents, were in the war. And we think back on like, OK, well, we were suffering. We gave up a lot. But like, did we really suffer compared to, you know, what our grandparents went through? No, no. We just gave up, you know, luxuries that that we really didn't have to have. So and it was fine. We we survived. We actually made it fun.

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I think I hate to say cliche, but it really brought us together every night, every month, like every week on Saturday, we would sit down and go through our budget. We went to a grocery store like, all right, this is how much we have frozen my.

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Yeah. And you come up with the little with the little plan and you make it work for little work before you do.

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You're screaming about ready to go go down the runway here. What was the first meal you celebrated with?

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I got to know after you got out what you got. Do you have to celebrate with a good meal? Yeah.

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Yeah, well, we went to that restaurant in in Miami and we had some kind of exotic fish.

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I know. Yeah, we're fish, but this one's on my right is not frozen, Mahi. I'm just saying. Right, right, right. Model my broke people thought it was tuna fish. I smell tuna fish now my net worth goes down. I can't stand tuna fish.

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Used to eat those old soggy tuna fish sandwiches out of the refrigerator at lunch. I hate tuna fish.

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Reminds me of being broke.

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Well, why do go you guys? We got a copy of Chris Hogan's book for you every day. Millionaires', you are on your way there very quickly at this rate. Very well done. Diego and Gino, Fort Lauderdale, Florida, two hundred ninety seven thousand paid off in nineteen months, making 302. Count it down. Let's hear a debt free scream. Three, two, one word that.

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This is how it's done. Got to love it and just after that on the call, almost very close numbers. This is The Dave Ramsey Show. Ken Coleman Ramsey, personality number one, bestselling author and host of the ever popular Ken Coleman Show, where he talks about careers and talks about getting a job and talks about finding your purpose. All of those things every day is joining me today as my co-host here on The Dave Ramsey Show. Open phones at Elite eight to five five two two five.

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You can find Ken's show on Sirius XM on 50 plus radio stations around America and of course, on YouTube as well.

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And a podcast. We put these shows out where you can find them and you can get the help that you need.

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Adrian is with us in San Diego. Hi, Adrian. Welcome to The Dave Ramsey Show.

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Hi, Dave. Thank you so much. I'm a new listener, so I just want to say that what you guys are doing there is just amazing. So thank you so much. Thank you.

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We appreciate you listening. How can we help?

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So if I made a few years ago, I decided to buy a townhouse as an investment strategy. And, you know, now after listening to you guys, I just don't think it was a very wise decision. So so the right now I am 400000 dollars in debt and some renting the property. And but after you know, after paying the mortgage and the homeowners association and taxes, I end up paying three hundred and fifty dollars a month out of my pocket.

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And you know, something that is coming up is that I'm getting engaged soon. And, you know, I would like to buy a home with my future wife and something. And we talk about. So, you know, so my question is, how should I know? Should I just go very, you know, intense in paying the mortgage or should I just save for the home on the side? And how about selling it with. Well, I don't I don't I don't kind of want to sell it, I can.

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I just want to. You should. I should, I should say, or you should sell it.

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It loses money. It loses money. OK, you're writing a check to own it. OK, most investments that I have pay me. Yes, that's what they're supposed to do. Yeah. Well, itself, selfish enough to pay off the mortgage and put some money in your pocket to help you start your life with this new lady. It should be good. This is baggage you don't need, I don't think you're going to do it, but you're a new listener.

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I appreciate it. It may take you a little time to think about it, but I love real estate. I can't stand real estate that doesn't cash flow.

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What's the psychology going on? Because he's not the only person that's in a situation like this. He's a new listener. But when you said sell it, you could hear it was just like, huh? He didn't know that was coming at him. I knew you were going to say it. But what is the human condition there where we go, whoa, whoa, whoa, whoa.

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Selling it today, why in the world would I sell it? Why is that such a unnatural conclusion for him and others like him? Well, because he's deeply invested in.

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Right. The idea, emotionally invested in the idea of owning this rental property. And that is eventually going to be a great investment. Someday it's going to look back. And because all real estate turns out well, real estate doesn't turn out real estate. That doesn't cash flow doesn't turn out. And you know what it does? It puts a pinch on you rather than being a blessing to you. And so, you know, when you got no equity and he has virtually no equity in this property, I mean, he got a little bit.

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So he'll get out of it hole.

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But, you know, he doesn't have fifty percent equity position. It's not great cash flow. And so the it doesn't make sense, you know, hit.

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But what he was taught and what a whole bunch of people believe, the same crap I was taught in real estate business is that if you buy this, the renters are going to pay it off over 30 years. Well, the renters aren't paying it off. You're paying it. You're paying three and fifty dollars. If they don't pay, you're paying a much more. If something breaks, you're paying a bunch more.

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This thing is a drain on you for thirty years before it becomes a blessing. This is not a good investment. It's not it's not a quality investment. It's a it's a liability more than it is an asset. And so that's what we get into when we buy rental properties with almost nothing down because they always pinch you. But people have this mindset of, oh, it's all going to work out. It's all going to work out. It's all going to work out.

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And I'm just saying, dude, if you were marrying my daughter, I would say sell it. If you were my son getting ready to get married, I would say sell it. And I own a whole bunch of real estate and I want you to own a whole bunch of real estate someday. This real estate owns you.

[00:34:07]

Katie is with us in Roanoke, Virginia. Iraki, how are you? I'm doing well, thank you. How are you? Better than I deserve. How can I help? Oh, I'm so glad to be talking with you about. I wanted to ask if I should quit my very stable job that I've been with for over 10 years to pursue a job that is closer to my passion, that will actually help lead me to what I feel is my calling.

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It's the job I'm in right now. I feel it's sucking the lifeblood out of me. And this pandemic has given me the opportunity to really evaluate what's important in life. Why would you not? Well, fear. I know I've listened to Can and I've read all of your books. They can read Ken's book. I've read Chris's book.

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So I'm like, I'm all I can take this because this is an area. But I'm curious about two things. If you made the job, if you got the job, dream, job, do you make more money or less money than you make now? There's a potential for a great deal more money, so it's more money, there's more money and a could you not interview and take that job and just simply leave the job you're in and go make more money and you're in a better job, make it more money.

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And there was no gap between what keeps you from doing that. I'm going from a salary commission to a 100 percent commission job.

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OK, so there's a big dose of fear. I got you now. Now I understand.

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OK, and if I heard you correctly, Katie, this is not the dream job, but this is getting you on the path to the dream job. This this other opportunity. Correct.

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Yeah. Yes. So this puts me closer to the people, which is one of the things that you say very important. This puts me closer to the people I need to be near in order to be into the same job I want to be. And that's a master financial coach, master trainer, OK, which I've been doing on the side for friends and family for a long time. But that's something that I really felt in my heart was a calling.

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But this job is one hundred percent salary and I have a family of six. So that's it. Yes, that's a very large.

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OK, so let's break that down. All right. So so there's a healthy dose of fear here. And so fear can be good. It lies to us a lot. But this is a situation where you've got to be cautious. Are you double income?

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Right now, yes, we are. All right, so how much of so how much of your salary is of the total? What's the total income and how much of it is yours?

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Peyto income is one hundred one thousand. And of that income on thirty seven.

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OK, and what has this job been offered to you? The straight commission job. I have been through one interview and I have my second interview on Monday. OK. All right.

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So first of all, this hasn't been offered, so you don't have a heavy decision yet. But to begin to think about this is the right move. So here's what you need to be thinking about. So what would we need to do financially to allow for whatever the ramp up time is?

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And my question is, are you far enough along in the interview process to know how long they are projecting this new company that you would start bringing in income? They know what they're doing. So presumably and you need to ask, OK, let's say that you offer me the position and I get in and I do everything that I'm successful. How long does it take for a successful person in this position to start making the income that you're telling me I can make?

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You need to know that. What are you interviewing for?

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What kind of position? It's a position with an insurance and brokerage. Co.. OK. They've been around for over a hundred and twenty five years, and that doesn't mean that doesn't mean anything. They weren't around 135 years in their current condition.

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Yeah. The other thing I was going to tell her is do your homework on this. And if it's not a good financial move, you need to back off and say this is not the only way to the dream job. Dave, I know this about mountain tops a lot of ways up the mountain and she needs to be OK walking away from this. If this is a bad financial situation for her and her family, no need to take the risk.

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There's another way. If this is Katie, if this is glorified life insurance sales walk down. I didn't even pick up on that walk away.

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It's a nice product. Yeah, it's a bad product. And they're going to it is not going to pay out anytime soon. And, you know, the failure rate is huge. There's another way up the mountain. Yes. This is the Dave Ramsey Show.

[00:39:04]

Hey, it's Kelly, associate producer and phone screener for The Dave Ramsey Show. This episode is over. And if you heard about an event, product or service, it 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. Shout out or head to Dave Ramsey, dot com. Thanks for listening.

[00:39:21]

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. 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.

[00:39:51]

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

[00:40:11]

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.