The Ramsey Show - App - Advice on Job Hunting During the Coronavirus (Hour 2)

Episode Date: March 27, 2020

Rachel Cruze, Retirement, Career Tools to get you started:  Debt Calculator: http://bit.ly/2QIoSPV Insurance Coverage Checkup: http://bit.ly/2BrqEuo Complete Guide to Budgeting: http://bit.ly/2QEyonc Interview Guide: http://bit.ly/2BuGnZE Check out other podcasts in the Ramsey Network: http://bit.ly/2JgzaQR 

Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Dave Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host. Thank you for joining us. Open phones at 888-825-5225. That's 888-825-5225. All right, Andy's on the line in Arkansas. Andy, your question for Rachel Cruz and me today.

How can we help? Hi, Dave. Hi, Rachel. Listen, I want to say thank you to you both for everything that you guys are doing. I really appreciate it. Last night's Hope was awesome to watch, learned a lot from it. So thank you to you both. Well, thank you.

Thanks, Andy. Okay, so my question is, I am a 1099 employee. I'm an insurance agent in the Little Rock area. And since there is not a 401k option or anything like that, I'm just trying to figure out what would be my next number one source. Since Chris Hogan says that that's the millionaire's number one source of their financial stability, the number one reason why they became a millionaire, since that's not available to me, what would be the next ideal source for a 1099 employee such as myself? Yeah. Well, what he's saying is not just 401ks, but retirement savings, retirement investing.

And so if you're married, you and your wife can do Roth IRAs. That's $6,000 apiece unless you're over 50, and it's $7,000 apiece you can do. You can also do a – do you're over 50 and it's 7 000 a piece you can do um you can also do a do you have employees no i i work for an agency i understand so you don't have anybody working for you you could do a sep a simplified employee pension plan and they have those in uh broth as well and you can put up to 13.1 percent of your net profits, meaning your taxable income, if you have a sole source on that 1099. So you can do a Roth SEP. You can also do what's called a simple IRA, which is a 401K for small businesses.

If you had employees in either one of those two cases, the SEP or the simple, you would have to pay into the employees as well on match 3% on the simple and whatever percentage of your income you put in on the SEP, you'd have to put in on theirs. That's why I asked if you had employees, but since you don't, you can do either one or both of those and Roths. So what you need to do is get in touch with a SmartVestor Pro, sit down, and they can walk you through which of these you want to use. But I would just make sure you're doing Roth, whatever it is, that it's growing tax-free. And the simplest and easiest to do is just a couple of Roths to start with,

and that's $12,000 a year if you're married, six each. Okay. You make it sound so easy, Dave. Well, just, you know, click SmartVestor at DaveRamsey.com, and they can do that. And then the simple 401K, we did that here until we got so large we didn't meet the guidelines anymore, and we had to go to a regular 401K at Ramsey Solutions. But when I first started, I did a SEP, and then I had employees, and I quit doing that, and I went to the simple IRA, which is a 401K for small business. It's got a required 3% match to the employees, but it doesn't cost hardly anything to set it up or run it.

It's very easy to run, and it's got the same guidelines as the 401Ks, and I'll have to look, but I think it's $19,000 this year or something like that that you can put into it. And I would say, though, for just even the average listener right now, I feel like investing is one of the most intimidating parts of personal finance. So when I talk to people, it's the one thing that everyone kind of freezes on and they, you know, because because it is such a huge industry. And so, you know, you said this earlier, but it is true. Finding someone who lives and breathes this stuff, a financial planner, to sit down with our SmartVestor pros are that for you. But man, this is such a huge benefit. Take advantage of this program because having someone that has the heart of a teacher who's sitting with you and explaining all of this, it takes the intimidation level down like five notches. Even just hearing you just rattle off a couple of things it's like okay there are options out there and then just learning and diving in

and understanding each one is so so important yeah and we do want to make sure everybody that we clarify what hogan's saying when he says 401ks that's kind of like lumping in all retirement right so some of them some of the millionaires we studied did not have 401ks, but they had Roth IRAs. They were self-employed like him, and they could do other stuff. And so that got them moving. Open phones at 888-825-5225. Colin is in Nebraska. Hey, Colin, welcome to The Dave Ramsey Show.

Hi, Dave and Rachel. Thank you so much for taking my call today. Sure. How can we help? So I received a call earlier this week that my position at my employer had been eliminated. And of course, it's coming during what seems like the worst possible time. I'm not freaking out, but I'm beginning to be a little realistic about what's going on. My background's in journalism and public relations.

And so I've been looking at different opportunities related to that. What I've quickly learned is that basically everyone's on a hiring freeze. And so I'm looking at different options outside of that because I like working. I like eating. Same, exactly. Yeah. So I'm just trying to figure out the best balance because I'm really looking at everything and I'm willing to try anything new. And so I'm just trying to figure out the best balance because I'm really looking at everything, and I'm willing to try anything new. And so I'm just trying to figure out the best balance between I don't want to just sit around waiting for the right position or the perfect one to come along. I want to be able to, you know, make myself useful.

So I guess what's the best balance when it comes to a computer that's not like this? What are you making at your current job? $50,000. Okay. And you're single? Yes. Okay. And how much notice are they giving you?

You done already or next week? It was the day of on Monday. So I'm done. So I've been spending the week applying around and I have a couple interviews lined up. Do you have any money in savings? All over. I have my basic emergency fund and then I put the, I pumped the brakes recently just because I kind of saw this coming. And so basically between my severance and what I'll be having coming in soon, I'm not panicking at the moment. I've got it figured out that I'd be fine for at least a few months. How much money have you got with all that? Probably about $5,000. And you can make it two months on that? Yes. Okay, good, good good so you're already doing good analysis that's very good because what that does is it it takes all that i mean no because when you get that somebody just walks in goes you're done today that's like getting hit by a car i mean you know that just right you you go into

freak out mode normal humans do anyway and you immediately you immediately started doing critical thinking and said okay i got this i got this i can make it two months so i can just chill out and i'm already starting by friday i've already got interviews lined up man you're on fire you're doing great i'm proud of you thank you i appreciate that where who are the interviews with what type of companies media publicity? No, not at the moment. Those are not. I've applied to some of those. They're not available.

One's with a credit union working in customer service, and then there's another company where I'd be doing, like, administrative work. And so I'm kind of looking all over. Yeah, that's very, very wise. Because, you know, your worst-case scenario is, you know, you take a job at Amazon and delivering pizzas or something like that because they're hiring like crazy. All those people are. Right.

And that's just but you don't have to worry about that today. So you've got a two month time frame to not go completely to I'll do whatever I have to do version of this. Right. You can get there. So, hey, jump on Ken Coleman's website and download all of those resume, uh, templates. Uh, hold on. I'll give you a copy of his book. If you don't already have it proximity principle, uh, because you are in high Ken Coleman mode

right now, you know, get a job, get a job. And his resume templates, his process to getting in the door is bar none. The best I've ever seen. And so he can really help you with that. Are high health care costs getting you down? Are you confused trying to navigate your options? Do you wish you could find an affordable, biblical solution to your health care costs? Based on New Testament principles, Christian Health Care Ministries, or CHM, helps Christian families, churches, and ministries join together as the body of Christ

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That's chministries.org. That's chministries.org. Christian Healthcare Ministries is a proud sponsor of Dave Ramsey Live Events. chministries.org. Kathy is with us in Tennessee. Hi, Kathy. Welcome to the Dave Ramsey Show. Hi, Dave. Thank you for taking my call. Sure. How can Rachel and I help? Well, I want to know if I should refinance my mortgage. I know with these great rates, it's a good time to do it, but I'm probably going to be selling my house in a couple of years,

so I don't know if it would be worth it. Well, the formula is do you make the money back that you pay in closing costs with the interest saved before you sell? And if you do, then it might be worth it. If you're going to sell in two years, I doubt it. I don't know. What's your current interest rate? It's 4.875, and it's a 30-year.

Okay. it's 4.875 and it's a 30 year okay so if you got it down to 2.875 it as an example that's some easy math that would save you two percent and what's your loan balance uh just under 75,000 okay it's not going to work but i'll go ahead and work you through how to do it okay okay one percent of 75 000 is 750 dollars two percent would be 1500 a year that you would save by refinancing okay so if your closing costs are three thousand dollars it would take you two years to break even you follow me yes and your closing costs are going to be less than that, but not much less than that. So when, let's say the closing costs were $2,500 and you saved $1,500 a year and you stayed exactly two years, you would have made 500 bucks in this transaction. It's not worth screwing

with. Okay. All right. That right that sounds good thank you because you're not going to stay in the house the math doesn't work does that make sense yeah uh that's kind of what i was thinking but just i know with the rates so low it just sounds so good you know it is it is good it is a good and if you were going to stay five years you know fifteen hundred dollars a year savings after you had recouped your closing cost for those other three years would make a lot of sense or if you found something where you could save two percent and the closing costs were virtually nothing so i'll tell you what you could do just for the fun of it because you have a very small mortgage and a traditional

mortgage company uh like a churchill doing a traditional mortgage a fannie mae is going to be too expensive on this small mortgage you might check your credit union and see if they have uh just a home equity loan type thing that has no closing costs at a lower rate now no closing costs makes it make a lot sense. If you save 2%, you're making $1,500 a year, right? Yes. Now, be careful of a couple of things when you're dealing with a credit union or your local bank on a home equity line like we're talking about. It needs to be a couple of things.

Number one, it needs to be a fixed rate, not a variable rate. Number two, it needs to be no closing costs for this deal to work. And then number three, it needs to be a fixed period, meaning you take a 15-year or a 10-year or whatever loan out, okay? It doesn't need to be a three-year with a balloon a call and then we reset everything no no no no no no so if you can get a 10 or a 15 year fixed rate with no closing costs at a two percent savings yeah i would do that because you don't have to recoup the closing costs and you're able to take advantage of it so shop some of your local credit unions that will probably work.

One thing that's going to happen on this whole coronavirus thing with the markets being so weird, it's driving these interest rates down, and we're going to see a refinance boom. Of it all. So for the housing market, from your experience, since you've lived longer life than I have through the 80s through 90s, you know, all the above above when you see things like this from the either the 08 recession September 11th mark any big thing do you see the housing market taking one to two months to kind of correct itself following the market

if we go back to work in the next two weeks, my guess is that the housing market won't change much at all. Because this was not a housing problem to start with. And it's not as sensitive as the stock market is. Now, 2008 was unique because it was a housing mortgage problem that caused 2008. The screwed up real estate loans, people making loans to anybody that could breathe, and even some people that weren't breathing. You know, it was just a ridiculous lending environment, and they set up a bubble and it burst. That's not what we're having here. We've got people's incomes are being lost. And so what may happen is the

sale of houses may slow until people kind of get their equilibrium back after this. And the math in their house starts to stabilize. They get back to routine, back to work, and things are going. Until that happens, you're probably going to have, you know, you're not going to see a lot of houses sell. It's the rate of sale. But I don't think prices are going to dive. I'd be shocked if they do. Now, if we don't go back to work for eight weeks, they could. And some of these markets, like where they're talking about shutting L.A. down, there may be some bargains out there because they may create a recession in their market,

a real estate recession in their market, because there's, you know, no one's working, so no one's making money, so there is no money to do things with, like buy houses. For an extended period of time, yeah, you're going to see any price of any item suffer, but I think nationally, you know, back to work in a week, back to work in Easter, whatever, those kinds of things. If that happens, I'm really, really hopeful we're not going to see a big glitch in that. Now, we've already seen the hit on the stock market, but the stock market's a drama queen. It gets upset every time the wind blows, and it's always looking for something. It's the roller coaster. We say it, but it's true. I'm like, every time the wind blows. And it's always looking for something. It's the roller coaster. We say it, but it's true.

I'm like, just picture the roller coaster. It gets the bird flu that time years ago. And Chinese flu as well. The bird flu comes through. And it's like somebody catches the flu in China, and all of a sudden the stock market there starts to dive. And the joke was that that same virus infected our stock market. Now, this time it's a real thing, but, you know, obviously that was a real thing too, but that was just a little bit, it was just strange.

But the geopolitical news, in other words, Iran and Russia fighting over oil prices, Saudi Arabia fighting over oil prices, Saudi Arabia fighting over oil prices. See, that really doesn't have a huge impact on the overall stock market, but just the jitters, just the jitters, you know, just the jitters. The presidential election gives them the jitters. Everything gives it the jitters. Housing is a lot more, it's less the drama queen. Well, it's more long-term.

Yeah, it's more stable as an investment. And so it's a great reason that it's interesting that, you know, when we did these studies of all these millionaires, the 10,000 millionaires we studied, that just about all of them, high percentages, 80s, 90s percent, you know, as Chris Hogan says, it was their retirement savings their 401ks or roth IRAs and that kind of thing and a paid for house so it's like they got the drama queen and the stable both in their personal assets their personal portfolio and um that gave

them the ability to ride the roller coaster on the one but then they got the house over here that's paid for or and or rental property that's paid for and that's just stabilized so yeah i i i'm hopeful we're back to work soon not because i'm trying to kill people with the coronavirus i'm not that's not the point but the point is is that we've lost about a hundred jobs in america right now per case of corona and so people are starting in other words a hundred people are upset about that their job being lost for every one case and so i i don't know how much longer you're going to be able to keep americans in their houses um given the ratio of that yeah uh and yes they both can grow very quickly. Cases of corona are growing what's called a geometric progression in mathematics, which is a curve instead of a line.

It becomes a mushroom cloud mathematically. That can happen with corona. That's what we've been trying to prevent, the flattening of the curve. But the same thing happens with unemployment. The same thing happens with the economy. The same thing happens. That's not a linear progression either. It's a geometric progression too.

So I'm hopeful we get back to work without harming anybody. Goodness gracious, that would be the best of all worlds. Yeah, absolutely. Thank you for joining us, America. It's a free call at 888-825-5225. With a debt-free scream in Kansas. Joni is on the line. Hi, Joni. How are you? I'm wonderful.

How are you doing? Better than I deserve. How much have you paid off? Well, I paid off about $350,000. Whoa. Whoa. How long did that take? It took almost six years.

Wow. Okay. And your range of income during that time? Was $135,000 to $178,000. Good for you. What do you do for a living? Well, I had a career in the federal government for 36 years, and that was about $125,000. And then I also got some retirement and farm income at the same time. And so about five or six years ago, I did retire from that job, and I get a pension. But I went back to work at another job full-time.

So between my pension and my new full-time job and also some rental income and farm income, that's how it added up to $178,000. Very cool. So I'm guessing the the 350,000 over six years might be your home it was it it is it is my home it is a rental house that's that is next door to my home and i did have a car loan for the car loan was about 26,000 wow it's beautiful we're seeing it right now they just they popped up a picture on YouTube. What a property. That's awesome.

Very cool. Congratulations. It's very fun. I love where I live, and my sister lives next door to me, and we're hoping she'll get to do her debt-free scream in a few months. I love it. Well, so what inspired you to do this six years ago? Tell me your story. Well, I've always, I love real estate, so I have a few other properties also,

which I actually did pay cash for. But I tended to use my rental house as leverage for other things at times, like a new barn or this or that. And after my 36-year federal career, I thought, well, I think I should retire and do something else. And at that time, my debt was $350,000, but so was my savings. And so I felt kind of good. And then I started thinking more about it. I thought, hmm, I really should have a little more savings and really don't need to be carrying that debt all the time. So just got busy with it. I love it. So this, you are 100% debt-free.

How many years ago was it that you were last 100% debt-free? Probably about 25. Yeah. How's it feel? It feels pretty darn good because, you know, the economy can change, and sometimes the markets go crazy. Really? They do? That happens. It can? Sometimes in a big way, too.

Yeah, really. And here you sit with no debt looking like a genius. Well, yeah, it's still, you know, still the things that are going on in the world, you want to try to help and make everything better, but it gives you a little bit more self-confidence. Yeah, your home, your farm, your rental properties, 100% free. That's just got to have a sense of peace. There's no weight.

It definitely does. And it's something that I's just got to have a sense of peace. There's no wait. It definitely does. And it's something that I would love everybody to have. Yeah. Have that sense. Very cool. So how old are you? I'm 65. Perfect.

Okay. You have done such a good job. So you're probably an everyday millionaire also, aren't you? I have been for a while. Yeah, I thought so. I was. Yeah, I thought so i was yeah i thought so thought your net worth was going to be there way to go excellent job very cool i'm so proud of you so what do you tell people the key if you know we got a 25 year old version of you listening right

now it's going man i wish i had a farm with horses and everything was paid for. And that house. And I was a millionaire, and I had some rental properties, and I was a millionaire, and everything was paid for. What would you tell that young person that's listening? What are the keys to get there? Well, one thing is don't take a loan out from your thrift savings plan to buy a horse. That's not a good idea. But the things to do is one of the things,

like with my income now, it's made up of bits and pieces. So make sure you do things that you enjoy and some things maybe you won't enjoy quite as much, but take all those bits and pieces and you can accomplish a lot. And also the giving back early on, I just think, is really helpful. I mean, one of the things I'm real interested in is animal-assisted therapy. So I've been involved with the therapeutic horseback riding program here for like 40 years. And just having those other things where you're giving back and the church and everything makes a big difference. I enjoyed Financial Peace University. I got a lot out of it.

I really appreciated it. And so persistence and taking advantage of little things to help yourself on the way. Just don't give up. Just don't ever give up. And just like with a diet, if you backtrack, just get back on and start again. Yeah, you will.

You'll have some times you, no metaphor goes unused here. There will be some times you get thrown off the horse and you just have to get back on. I was going to say, you fall off the horse, get back on. I knew you were going there. All right. Just hope that you've got a nice sandy arena to fall in. Some nice soft straw, yeah. I love it.

Jenny, I'm curious for you with your age and everything and where you're at considering you do have you have rental properties and all of it like what was the hardest part of this for you specifically um i think the hardest part was like the last four months where last year when i was finishing paying off my house because I really cut back on expenses. I was putting a lot of money, extra money in every month. And so like the last 20, last maybe 20 or $30,000 of it just seemed like a huge obstacle, bigger obstacle when I, than when I owed 350, it was very weird. That to me was very weird.

You can see the finish line, but couldn't quite get there. Yeah. I've heard that. That's000. It was very weird. That, to me, was very weird. You could see the finish line, but couldn't quite get there. Yeah, I've heard that. It was just annoying. I like it. Well, way to go, Joni. We're so proud of you. $350,000 paid off in six years, making $135,000 to $178,000. It's all paid for, house and everything.

Count it down. Let's hear a debt-free scream. Three, two, one. I am debt-free. Well done. Very well done. Man, that's absolutely fabulous. So cool.

So a couple things happening. She mentioned she enjoyed Financial Peace University. We pivoted around here Monday with our leadership team and said, what can we do during the two weeks that the nation is shut down? And we said, hey, let's give two weeks free trial to Financial Peace University, something we have never done in 30 years. So if you want to binge watch all nine lessons and the lessons for smart money, smart kids that Rachel did, I'm in that a little bit, but she did a whole lesson off the bestselling

book that we did together that's in there too, the Legacy Journey Lessons, which is the follow-up lesson to financial peace university you can do all of this and you get a 14-day free trial and it includes hooking up to every dollar the budgeting system it hooks up the best world's best budgeting app it includes the whole financial peace experience the communities you get plugged into the only inside there with a 14-day free trial, all nine lessons. So if you're going to binge watch something, you might as well binge watch something while you're at home that is going to benefit you and get you going in the right direction. So just go to DaveRamsey.com slash hope, and there's a whole list of things there

that are free or near free that are absolutely incredible and that include the the biggest of which is this 14-day free trial it's rachel it's you and me and hogan and anthony o'neill on the teaching now yeah it's great it's all updated and all the lessons are brand new just about and uh they're all new in the last 18 24 months and it's just uh this is the time for you to jump in on them. Financial Peace University 14-day free trial. Wow. Well, hey, we're trying to help you while you're stuck at home there.

Check it out. DaveRamsey.com slash hope. We'll see you next time. holly is with us in california hi holly welcome to the Dave Ramsey Show. How can Rachel and I help? Hi, Dave and Rachel. Thank you for speaking with me. I am 47 years old, and I lost my husband last month to a coma. Oh, my gosh. He did have a life insurance, and so there was about a million dollars. Just a couple of weeks ago?

Yeah, February 26th. Oh, my goodness. I'm so sorry. Thank you. Just a couple of weeks ago? Yeah, February 26th. Oh, my goodness. I'm so sorry. Thank you. You said he was in a coma, did you say? No, he had lymphoma. Oh, lymphoma.

I misunderstood. Okay. Yeah. Oh, my goodness. Have you got children? I have two young adult children and one teenager. How are you doing? I'm doing okay.

Every day gets better. Still hard to breathe some mornings, but you've got some good days and some bad days, huh? Exactly, exactly. I'm so sorry. And so you were saying he had life insurance. He did have life insurance. The payout was about a million dollars. By the time I pay off our debt, set up an emergency fund, and buy a house, because I don't own a house, that will leave me about $500,000. And I need to, I'm a contractor. I have no 401k.

I don't have any of that available to me. And I have not, we have no savings. Um, we were in the middle of trying to pay down our debt, but we have no retirement savings. Um, so I need to get that going. Um, and I have people, you know, putting annuities and mutual funds and IRA stocks and things like that in front of me. And I'm just totally overwhelmed. I, he handled all the finances. Um, and I And I just, I don't know the difference between any of them. And I'm just looking for guidance as to what might be the best way for me to go. Okay. I want you to run all those people off. I want you to do nothing. I want you to do nothing right now. Okay. Because your brain is not working good. If Sharon, my wife were to pass away, my brain would not be working good a month later.

And I do this for a living but I'm not making any big financial decisions 30 days out from Sharon's passing. Okay. It's a little scary to have that much money in the bank account. I know but what's even scarier is making a bad decision because you feel forced to move in the middle of your grief. Exactly. Slow down.

Slow down. Okay. What do we have to do? Well, we need to create an income to eat with. It sounds like you're already doing that. I do. We're going to have to leave state doing that. I do. We're going to have to leave state. We live in California. We're going to have to move. We'll be moving to Texas where we have family because that's where my salary can support us. Okay. Here's what I would

do. I would get yourself into a rental there and get stabilized and live on the income that you can create. And let's just set this money over the side. You paid off all the debts already, right? I'm in the process of doing that now. A lot of it was in his name, and so I have to, you know, vehicles and things like that. Okay. So you become 100% debt free, and you rent you a little place, and you make enough money to not have to touch this money

to eat with and pay your bills right right and a year from now you can do some stuff because a year from now you'll be able to breathe better okay just what if you just parked it in cds and did nothing but cry for a year and get resettled? Okay. There's nothing wrong with that. As a matter of fact, that's a lot wiser than what you were coming at me with, with all these people coming at you. Can you imagine the number of people that make mistakes

when they're in the middle of what you're in? Yeah, I actually was looking things up and saw lots of people talking about that, which is kind of put me in a panic, which is why I get scammed and they get scammed and everything else. OK, so you're going to slow down now during that year. Gradually, you're going to begin to learn about some investments and you're going to learn the real estate market in the area where you're moving with family. You start to poke around on houses, maybe in September, thinking I might buy one next spring, right? And you can begin to gather information about buying a house. You can

begin to gather information about investments and IRAs and doing all of that. And you begin to gather information about investments and IRAs and doing all of that, and you begin to educate yourself as your emotions begin to heal. But I don't want you to do anything right now. Okay. Is that okay? Yeah, that feels really good. Yeah. So I'm going to give you some tools,

but I don't want you to do anything with them this month. I want you to wait at least a month and just keep up with them in the move, or you call us back and we'll help you, okay? But I want you to go through Financial Peace University when you get settled to learn how to handle money. You said he took care of all the bills. I don't know what to do. Well, Dave and Rachel are going to teach you what to do. we're going to show you what to do okay okay and you go through that class and take that grown kid that's with you take them to class with you that way they don't end up in your basement when they're 30 right i was hoping that i could set up some trust for the three of them i'm not worried about them right now they can just go have a life it's okay okay. They're called grown-ups, and they need to act that way right now.

Okay? They're all right. They're going to be okay. And what you're going to discover is that a million dollars isn't as much as we all thought it was. No, it really isn't. It goes away really fast, okay? So I don't know how many sophisticated trusts you're going to end up with three grown kids i doubt it it's not necessary and i would i wouldn't screw with any of that so number one i want you to go that class okay okay number two i want you to get in touch

but not this month maybe september maybe after you complete the class i want you to click smart vestor at dave ramsey.com and begin to interview some of the SmartVestor pros in the area where you move to. And they don't work for me, but they're people we endorse for investments. And you pick out one that has the heart of a teacher that you feel comfortable with. But you're not going to invest later on in things until you understand them that's why it's going to take you a little time okay you don't put money in it because i said to rachel said to or some guy said to right is this okay so what's going to happen is you're incrementally going to be getting better in your emotions your grief is going to begin to heal

uh you'll always have a scar. You'll always have a memory. You'll always have those moments where something just catches in your throat. That's just the part of going through what you're going through. But you're going to get where you're functioning a lot better because your brain starts, the fog starts to lift off your brain over time. Okay. And as you're doing that, we're going to teach you about how to handle money, how to do those investments. And then the last thing is you can click on DaveRamsey.com for ELP and begin to talk to someone about real estate, again, that has the heart of a teacher.

But if you feel people pushing you at any point on money, just hold the hand up and say, talk to the hand and start walking away. You slow down okay there is no shame in doing nothing with this money for one year okay and you set your job up and your rental house up where it's within your budget and you live rachel what are you thinking yeah absolutely i mean holly i feel like our show helps give people guidance and what to do, but also gives them permission for what they need. And I think that for this year off, you just need someone to give you permission just to be. And I think that's important emotionally and through everything that

you're going through. So I can't even imagine being in your shoes and I'm so sorry. But yeah, I think that that advice is spot on and better than I probably vocalized what he just said to you. But seriously, just have the permission that we gave you the permission just to breathe. And yeah, it's when you're in a fog in any type of parts of life, it's really hard to make wise financial decisions specifically. So for sure, just rest this year and slowly, slowly gather that information. Yeah, as you heal and as you learn, then these investments will feel like buying a home and the other investments will feel like a natural thing. And right now it feels forced. And it's creating extra stress in the middle of your

grief right now that's why i said just run all those people off i don't know which ones of them are sharks or whether they are sharks but i suspect at least there's one in the mix be careful do nothing if you can hold on zach will pick up we'll get you connected with everything you need we appreciate it's all free we're not charge you a dime for any of it. This is The Dave Ramsey Show. Hey, guys. It's George Campbell, host of The Dave Ramsey Show video channel. You can now listen to the show on your smart speaker.

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