The Ramsey Show - App - Anthony ONeal Joins Dave In Studio to Recap His Visit With the Ravens (Hour 2)

Episode Date: October 17, 2018

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Live from the headquarters of Ramsey Solutions, it's the Dave Ramsey Show, where debt is donned, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I am Dave Ramsey, your host, and this is your show. Thank you for joining us. Open phones at 888-825-5225. That's 888-825-5225. Thanks for jumping in.

Anthony O'Neill, Ramsey personality that speaks to youth, high schoolers, and college students all over America, will be with us at the bottom of the hour and able to answer a couple questions for you. So if you're a teenager, a college student, or the parent of one of the above, and you have a question about those critters, you can call in and talk to Anthony. He's an expert on teenage critters. He speaks to more of them than anybody else in America right now. He's all over this country talking to churches and to schools and college students and high school students. Pretty amazing young guy.

And best-selling author of the book, The Graduate Survival Guide, Five Mistakes You Can't Afford to Make in College. Always a huge seller. People giving that, obviously, to soon-to-be college students. And the book co-authored with other Ramsey personality, Rachel Cruz. So jump in here, 888-825-5225. Megan is with us in Cleveland, Ohio. Hi, Megan. Welcome to The Dave Ramsey Show.

Hi, Dave. How are you? Ramsey Show. Hi, Dave. How are you? Better than I deserve. How can I help? I am calling because my husband and I are coming out of a bankruptcy about a year and a half ago. And we took to FPU. And so we're kind of creating our debt snowball and going through everything. One of our student loans is no longer listed on our credit reports.

And so we have no contact information. I have no idea how to get a hold of these people. It's my husband's student loan. And so we're kind of unsure what to do. Do we just leave it alone? I'm afraid of Chase knocking on our door someday. Oh, they're going to come after you. Student loans are door someday. Oh, they're going to come after you. Student loans are not bankruptable, and they're going to come find you.

It's just sitting over there piling up. We need to find it. But you don't have a single piece of information on this loan? So my husband's not very organized. I'm much more organized when it comes to our financials. And so I guess the loan was sold and resold and transferred because it was a private student loan through Chase. So you know it was at Chase. Do you have the old Chase account number?

Probably somewhere. I guess that's the first place you would start. Call Chase with that account number and say, I know this was sold. Can you tell me who it was sold to? They can account number and say i know this was sold can you tell me who it was sold to they can tell you then you think it was sold again you call those people and you go i know this was sold can you tell me how it was sold to until they finally say oh no we own it and so forth now is this a sally may loan or a private loan this is a private loan it's not a sally may it's not government insured. No.

You're sure? Yes. Then why didn't it get bankrupted with the bankruptcy? That's what I'm thinking may have happened, but it's not listed as a closed account either. It's not a matter of, it's not up to the lender as to whether it got bankrupted. It's up to you and your attorney. So your Chapter 7 should call, you should have had a matrix for your debts did you do a chapter seven yes okay you should have had a matrix for your debts and listed all your debts to the best of your knowledge even if you didn't list a debt

it can still be bankrupted did they not put anything down for this loan at all we did we did and we included it as a student loan. And we were under the impression through our attorney that it wouldn't matter whether we put it down or not. I mean, we still did include every single debt. Okay. It does matter. But if your attorney thought it was a Sally Mae, your attorney was telling you that Sally Mae's are not bankruptable. That survives the bankruptcy. If it's a private loan it's just like a personal line of credit is what it is and it completely was bankrupted okay so did you you put down chase student loan some amount on your matrix yes i'm not worried about it it was

bankrupt it was bankrupted if your bankruptcy was discharged yeah okay then if so-and-so comes up you go and says we you owe us the student loan, you say, no, that was bankrupted. It was originally Chase, and that was what was listed on the bankruptcy matrix, and nobody could find you people, but, you know, it's cleared. It should be cleared. I don't know why your attorney would think that's not bankrupted. I think they must have thought it was a Sallie Mae loan. Possibly.

I mean, like I said, my husband's not very organized, but, I mean, we did say it was a private loan may loan possibly i mean like i said my husband's not very organized but um i mean we did say it was a private loan i know that okay i don't know a private student loan is basically an unsecured loan it's just a loan that was used for college okay you just use like a personal line of credit for college is the same thing a government-insured Sally May loan is not bankruptable. A personal line of credit is bankruptable. You see the difference? Yeah. I mean, we have plenty of Sally's to pay off.

Yeah. Sally survives. She's a resilient old broad. And so you just can't get rid of her until you pay her off and evict her. But the other stuff, that's what you're facing. I wouldn't worry about that right now. I don't think it's going to come up. If it does come up, you'll have to go back and do this later.

I filed bankruptcy 30 years ago, and two years later American Express came at me again on a similar situation that was listed on the thing, but they didn't get notified because of the way it was listed. They don't have to be notified uh it's federal law and court bankruptcy courts federal bankruptcy court and so i just sent them bankruptcy papers and told them you know just remove the account don't report on the account anymore you're not allowed to report on it because the account no longer exists meaning they can't keep reporting it as bad debt after a bankruptcy on your credit bureau report.

Bankruptcy is the line in the sand that's drawn. The Chapter 7 clears it. Now, the Chapter 7 will stay on your credit report for 10 years, but everything that caused it stops on that date, and that's the way you look at it. So, good question. Thank you for calling in. I'm sorry you guys are facing that, but it sounds like you're coming out the other side. Open phones at 888-825-5225. You jump in.

We'll talk about your life and your money. Dave, I got a question about going into storm mode. My coworker was recently promoted, and now he's my boss. We've never seen completely eye to eye about things. We've been known to get into arguments professionally, of course. But now that he's my boss, I'm afraid I'm going to always end up where he says, I'm right, you're wrong. I just feel like he's going to get me fired.

My wife and I are in baby step two. What do you advise to do? If you feel like the probability is greater than 50% that you're about to lose your job for whatever reason, then I would stop all of your baby steps. I would stop your total money makeover and pile up cash. And meanwhile, I'd look for a job. I don't know why you'd work in a cesspool environment like that. What a horrible situation. If a person that you really don't know why you'd work in a cesspool environment like that. What a horrible situation. If a person that you really don't like and never agree with is now your boss, you didn't say leader, you said boss, I'd get out of there.

That's what I would do, Ed. So while you're getting out of there, now once you get out of there and get settled, or once he gets fired and you get settled, then you pull the storm money out and you throw it at whatever baby step you're on probably two and uh you advance that that snowball once you get out of storm mode but that's what you're doing you're facing a storm and you got to get ready hey thank you for following us on facebook.com slash dave ramsey this is the dave ramsey show slash Dave Ramsey. This is the Dave Ramsey Show. Identity theft has become an epidemic.

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best value out there zander.com or 800-356-4282 Coming up at the bottom of the hour, Ramsey personalities. Ramsey personality, Anthony O'Neill, will join us. I don't think he's got two, but probably one personality. And he's going to join us at the bottom of the hour. He is a teenage expert, meaning he speaks with teens all over America. Just did a wonderful talk at Smart Conference on what your teenagers want you to know. Ooh, there's something to think about. He's the author of the Graduate Survival Guide, Five Mistakes You Cannot Afford to Make in College.

If you are a teen or you're a college student or you're a parent of one of the above and you've got questions about anything, Anthony will be here. The phone number is 888-825-5225. We're opening up a couple of lines for that right now. Heather is in the lobby of Ramsey Solutions from Spokane, Washington, with a question. Hi, Heather. Hi, Dave. How are you? Better than I deserve. What's up? Good. I just finished Baby Step 3, and. How are you? Better than I deserve. What's up? Good. I just

finished Baby Step 3, and now I'm working on Baby Step 3B. Saving for a house, got your emergency fund. Good for you. Yep, and I wanted to know how long is too long in Baby Step 3B before I should move on to Baby Step 4? Well, it's not a magic answer. The concept or the critical thinking skill for the answer is simply this. If you stay there so long that you don't save for retirement, you've screwed up your retirement, right? Yeah. If you don't stay there long enough, then you don't have a good solid down payment,

and you'll end up with other problems on the mortgage. So it's the pull between those two things. And with most people, that means, you know, three years, four years, something like that. But if you're 59, it might not be that long. You're not 59. No. How old are you?

I'm 28 on Friday. Okay, cool. And so, I mean, if you stayed out for four years and never started any retirement until 32, but you had a really juicy down payment on a house and had a plan to pay it off in a few years because of that, you're still going to retire a multimillionaire if you do that. But if you stayed out for 20 years and called that baby step three, that's kind of how you think through it from a critical thinking skill standpoint. So how long were you thinking of?

Well, I just started in June, and I'm hoping to have it done in two years. Okay. June and I'm hoping to have it done in two years. Okay and so 30 years old you're game on on retirement taking out a 15-year mortgage by 45 the mortgage is paid for if not sooner and you will have saved 35 years at 15 percent of your income which unless you just don't work is going to make you a millionaire multi-millionaire. You see how I'm doing that? Yep. So you're in a safe zone there. But that's how you make the decision, more importantly than Dave Ramsey says, never go more than three years.

Yeah. That's not how it works. It's just you're pulling, those two things are pulling at each other because you're not saving for retirement the longer you go. Yeah. That's all it is. Hey, thanks for stopping by. Thanks, Dave.

Open phones at 888-825-5225. Julian is in New York City. Hi, Julian. How are you? Hi, Mr. Ramsey. Can you hear me okay? I can. How can I help?

Thank you very much for taking my call. So I'm in a bit of a unique position. I'm 24. Next year I'm going to medical school, and I'm very very very lucky and very appreciative uh i'm i'm not going to have any debts after graduating medical school residency residency included if i decide to specialize um and uh would you get a fellowship or what um uh yeah i'm not entirely certain as to what i want to do yet i know i'm asking how you did that. Oh, yeah, so it's a gift from my father and my grandparents. Wow.

I'm very, very, very appreciative, yeah. Good. Yeah, you should be. That's amazing. Wonderful. So how can I help? Yeah, so when I was 21, I was given essentially control of this money because it's under my name. But hold on. Sorry, I apologize.

So, yeah, I was given control of this money and I've been given very good financial advice from my father who's helping me manage it. But because it's under my name and he's essentially passing the reins off to me, I would like a second opinion as to what to do with this money. I've been given a little bit of money for living expenses, and I've saved up about $5,000 from some small side jobs in hospitals. But I want to know how to capitalize on this and how to set myself up as best as I can for after medical school. Well, the thing I would be most concerned about is that the money is available and enough to get you through medical school. It definitely is. About one-third of it is invested very securely, and two-thirds of it I have in savings.

And this two-thirds we were discussing putting into a T-bill on a three-month renewal basis until I needed to take some out to pay my tuition, and then I would just reinvest the rest. Well, I probably would not do that, and the only reason is that T-bills basically are bonds, and bond interest rates or yields go, bond values, rather, go down as interest rates go up, and we are in an increasing interest rate environment so if you put a hundred thousand dollars in t-bills it could turn into 90 pretty quick as interest rates increase so that's not a very safe investment in the environment that

we're in right now but if you wanted to have some portion of the money invested i probably would go to something like growth and income type funds but i'm okay if there's enough there to do simple division and it doesn't have to really earn anything if you want to keep it all very very safe that would be okay with me because the most important thing is for you to be able to graduate with zero debt and if you screw around with this money in some way and it loses value and you're not able to do that then the whole you know it's like uh we were concentrating on the wrong thing and uh julian is the right thing to concentrate on julian's debt-free graduation is the most important

part of this math equation not what this money is paying. It'd be nice to be a little bit sophisticated about it, but if you get caught up in some kind of a sophisticated process and you end up losing money trying to just get a little bit more on this lump sum, you've defeated your own purpose. You shot yourself in the foot, so to speak. So that's the process you're looking at. I'm going to keep it pretty safe. If you want to go towards something, that's fine,

but I wouldn't use bonds for anything right now. It's the worst possible play. Kimberly is in Pensacola. Hi, Kimberly. How are you? Hey, Dave. I'm doing great. Thank you so much for taking my call.

Sure. What's up? I just wanted to thank you for all you do. This December will mark my husband's... It's been seven years since my husband and I have paid off our debt since following your plans. Way to go. So thank you for that. But my question today is my sister and I were a little concerned about our parents,

and we were hoping you could give us some advice on how we could guide them. My parents live in North Carolina, and they live in a flooded area, a flood-prone area. And so every time the hurricanes come through, they experience some flooding. It's on their property, it's their their home as well as my dad's business. And we were just wondering what you would recommend as far as should they sell it, move? They have no debt. They do have some savings, and my mom has, I think, a 401. Okay.

How often does this property flood? Well, in 99, it flooded, and it got like 40 inches in the house, and I think about 10 feet in his shop. And then two years ago, it got in my dad's shop, I think about 3 feet or so, and it almost, it lagged about six inches from getting in the house again. And so there's only been two major floods, but they're in their 60s, and it's very emotional for them. Any time a storm comes, it's just rough. This past time, we actually packed up, or I didn't.

My sister was able to help them. I live out of state, but they packed up all or I didn't. My sister was able to help them. I live out of state. But they packed up all their belongings and moved them, took them away, because they were afraid that their stuff was going to flood. So what it amounts to is living there has become more painful than not living there. Because of the fear of rising water. Yes. Even if the fear is not founded. I mean, once in 20 years is not that bad.

But the bottom line is it's developed a phobia for them, even if the fear is not founded. I mean, once in 20 years is not that bad, but the bottom line is it's developed a phobia for them, and they're not having fun living there. If they're not having fun living there, why wouldn't they move? Right. I don't care. I mean, the actual threat of flood, statistically, with what you've given me, I wouldn't be that concerned about.

But if they're absolutely panicking every time the weather person comes on and says it's's raining then it's time to move because it's not fun to live there anymore you know it's more of an emotional decision but that's an okay decision nothing wrong with that it's not fun to live here anymore i'm moving It's time to take another look at your budget. That means scouring every expense and making sure you're not leaving any money on the table. One of the biggest expenses is your mortgage payment. I recommend a quick Churchill checkup. In just five minutes, our friends at Churchill Mortgage can tell you if you could save some cash each month. They've helped thousands upon thousands of my listeners keep more cash in their pockets through a smarter mortgage. I want you to call Churchill for your checkup and see if you can lower your monthly payment,

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NMLSconsumeraccess.org. Equal housing lender. 761 Old Hickory Boulevard, Brentwood, Tennessee 37027. This half hour we are going to take calls from teens, high schoolers, college agers, or parents of the above, or any of you that have questions about teens and money. Open phones at 888-825-5225. Ramsey Personality, Anthony O'Neill joins us this half hour. Anthony also speaks in churches all acrossica and did a fabulous talk at the

smart conference in kansas city last saturday it was an absolute home run he's the author of the book the graduate survival guide he co-authored that with rachel cruz five mistakes you can't afford to make in college and then he and our product team here worked up a fabulous product called the Teen Entrepreneur Toolbox. It's all these pieces and parts in a box to show your teen how to start and run a business and how you as the parent can help them do that. Everything your teen needs to start making money, the Teen Entrepreneur Toolbox. And I think you flew home from Kansas City and did the Ravens chapel service.

Yes, sir. Before they put a beat down on the Titans. So we have now prohibited you from doing any more Ravens chapel services prior to a Titans game. Unbelievable. Unbelievable. You must have really motivated them. Amen. God showed up. We to a Titans game. Unbelievable. Unbelievable. You must have really motivated them. Amen. God showed up.

We had a good time, Dave. And I didn't pray for them to beat us, but, hey, it was an amazing game. That's all I'm going to say. But I love the Titans. But I love the Ravens, too. So, hey, the best one won. Ooh. Ooh.

Well, that day, the best football team playing that day did. Yeah. I think the Titans guys would agree with that. It was a bad day. It was. So you've done that chapel several times. You've done some other NFL work as well. Some of the other teams have called, and you and Chris Hogan have both been available to them and helping them.

When you're meeting with those guys and they're asking you money questions, what's coming up? You know, Dave, this is the main thing that's coming up. Hey, I'm young. I'm 22 years old. I was only making maybe $5,000 a year. My first check was $15,000. And I'm going to get another one next weekend. What do I do?

How do I spend this? How do you keep from being overwhelmed with the money? With the pressure. With family. How do I tell my mom? No. Should I tell my parents? No. How do I tell from being overwhelmed? Overwhelmed. With the money. With the pressure. With family. How do I tell my mom? No. Should I tell my parents? No.

How do I tell my friends? No. Should I go buy this car? I won't say any names, but there are some rookies out there that I've had the opportunity to mentor. And they're going out there and buying some big things. And other rookies are saying, well, wait, should I do that? And I'm like, no,

no, no, do not do that. Save your money, live on a plan, live on a budget. And then what the coolest thing was with the Ravens, I could say this was all of them sign up for every dollar a couple of weeks

ago. And all of them did every dollar plus. And so there was like, man, okay, how do we do this? And it was surprising to see that a lot of kids did not know how to budget these are 22 year olds 21 year olds making nearly um on average i

think the low end is about 15 000 of games that's about 60 000 a month to about 200 000 a month and they didn't know how to budget that so i'm just excited because i'm seeing them saying hey i want help you know these guys are texting me they're they're calling me hey how do i do this how do i invest what does dave say about this you know it's just real cool to see these young players want to be good on the field but then also want to make the right decisions off the field as well i was telling the leadership team this week that I was talking to, that group of pastors we were with yesterday, that you can't attribute life skills to someone just because they're successful in one area. And so if you've got a 26-year-old music star, well, they're good at music. But what happens is we see them being very successful there. Even me, I'm 58.

I know better. I've worked with NFL players for 20 years off and on. And I know this is a world-class, one-half of 1% athlete. But they are 22. Yes, sir. And the rest of their life skills are not developed at the level that their football skills are developed. They are the size of a Kia. Yes.

But that doesn't mean that their life skills have developed at the same level. And, you know, so it's kind of weird. I told somebody doing one of these rookie camps is like you're looking at this guy the size of a Kia, but when you look in his eyes, you see a 13-year-old. Yes. Because he's still, his football skills are the best on the planet. Yeah. And his physical acumen, his physical IQ,

the things he can do with his body in midair, it's just circus-like. It's amazing what those guys can do. But what happens is when you watch that skill level, especially if you're just watching like on TV, you think of that guy as, you know, a 40-year-old who's mature, developed, has, you know, strong marriage, has all these other things. And these guys are college kids. They were in college last week, just 20 minutes ago. And even a player that's been in the league three years, they're still young.

And they're still not even 25 years old, hardly. And so it's interesting. And the same thing happens with music people when they get a success level early or anything where you're a spotlight and you get a success level and your skill is world class in that thing does not mean you have everything else together. Yeah. Yeah. And that's true with, you know, teenagers in general. It's one of the things we do this entrepreneur toolbox is they can start to develop some of those skills, you know, running a business. Yeah.

Yeah. And that's absolutely right. You know, you say this all the time, and America knows you for saying this, but the NFL stands for not for long. And these football players, young football players know that, like, hey, I need to develop something now because probably in three years I will not be in this league. And the most money these kids will make will be within their first three to five years of the league if they make it past then. And so I told them like, hey, you have to get focused.

But when we look at these 22-year-olds, this is why I'm so passionate about that 15-year-old, about that 13-year-old getting the Teen Entrepreneur Toolbox Kit, getting the Graduate Survivor Guide book, and also taking our financial foundations curriculum inside of our classroom. Because all of that teaches what these older professionals do not know. And if they can get it at 13, like these middle school kids, Dave, who are out here now taking our middle school curriculum, you know, they are ahead of the game. Like, they were teaching me some stuff earlier today. I like wow like what in the world and so just to see that these young kids are getting it taking our curriculum learning it learning how to budget learning how what is the difference between the credit card and the debit card and these kids like man i'm not financing

anything like that just gets me excited yeah it's dialed in. And it's a life skill. Yes. It's life skills stuff. And you need life skills whether you're 17 or 57. Yeah. You know, and this money thing, you know, the basic stuff of being out of debt, being on a budget, having your emergency fund, the stuff we talk about here every day on the air. It really does work for teenagers. And the interesting thing is they're not, you know they're not like rusted into place right you know they're pretty they're pretty uh uh elastic in their spirits in that they can receive this stuff sometimes more than some of us are a little older and we get a little stiffer

on our spirit and we don't receive as quite as well they're like okay that sounds good let's do that right right they're not like a little docked in and going no no they don't argue with you about their stupidity right there it's uh it's easier to get through most of the time you don't have a big argument like you have to have a credit card you have to have a student loan you don't have to have a car payment you don't hear all that from the 14 year old when you're able to sit and talk to them they're just ready to go what is it we need to do to win yes sir and dave you and i were talking about this at smart conference me you and hogan i was reading an article they're saying that this younger generation, teens and millennials are not entrepreneurial. And I'm like, man, that's that's a bunch of baloney. They're more entrepreneurial than any generation.

Than any generation. Who wrote that stupid article? stupid mistakes because no one never taught them. Once they learn, they tend to not make that same mistake in the areas of finances, but they have to be taught it first. So that's what I love about what we're doing is we're giving them life skills through business skills, through the Teen Entrepreneur Toolbox Kit. We're helping them understand how to deal with their finances and how to make the right decisions earlier on with our middle school curriculum, with the Graduate Survival Guide. And when I see these young people come up to me saying, man, I cannot do it. And and how to make the right decisions earlier on with our middle school curriculum, with the graduate survival guide. And when I see these young people come up to me saying, man, I cannot do it.

And thank you so much for teaching me earlier on, because we make learning about money, Dave, and our organization with young people cool as heck. That's right. You know, and so it's fun. Anthony O'Neill joins us this half hour. If you are a teen or the parent of a teen and you've got a question for him, the phone number here is 888-825-5225. The Teen Entrepreneur Toolbox is

available at DaveRamsey.com or AnthonyO'Neill.com and so is the Graduate Survival Guide, 5 Mistakes You Can't Afford to Make in College. This is the Side Hustle Generation. Millennials aren't entrepreneurial? That's absolute bunk. Absolute BS. This is the Dave Ramsey Personality, Anthony O'Neill joins us this half hour answering your questions about teens and 14s.

The phone number, 888-825-5225. That's 888-825-5225. You can follow Anthony O'Neill at Anthony O'Neill on YouTube, Instagram, and Facebook. I will tell you, he is a monster on Instagram. He keeps that thing lit up. And tons of interaction on YouTube as well. So that's where those teens hang out a lot. And he's very good at it.

I follow him on these things. And you get a lot of good information there. A lot of fun stuff going on. You were speaking this coming and over near your home place yes sir you were spent where your parents are yes sir durham north carolina i'll be there uh this sunday speaking to all four services for the world overcomers christian church from pastor andy thompson's a senior pastor there um and i'm really excited about it we're gonna dive in talk about life skills talk about money skills and what does god have to say about money. There we go.

Fun stuff. Four services. Four services, Dave. We're going to get some work out of you. I love it. That's fun. Good stuff. Good stuff.

All right, let's go to Barbara in Boise, Idaho. Hey, Barbara, your question for Anthony O'Neill. Well, I have, I would think, an unusual question, but maybe not. I have a 20-year-old granddaughter. She is living on her own now. She was working full-time, in fact, more than full-time. She had two jobs when she lived in Aurora, but had to move. And so she's renting a room four hours away from the Denver area, and she was only able to get part-time.

She is still making her bills. She does. She doesn't know about Dave Ramsey. I've been trying to get her into a class. I will at some point. And so she does have a car payment. She's making it. She has rental rooms.

She's making it. But just barely, as you can imagine, on working at O'Reilly is part-time. So the problem is that she is making it, but now she just found out she has five, not four, but five wisdom teeth in her mouth, all of which have to come out and will be well into the thousands of dollars. Why did she move away from her income? Because it was a dangerous area. Her house was being shot up. Her father's truck was blown up at the house.

It was a life-threatening situation. She walked into the house twice, and it was being, the people were in there. Okay, I got that, but she had jobs, right? She had a job. And she moved so far away that she couldn't do that job? I mean, you can move out of the hood and move into a decent area and keep the job. Well, she couldn't find a rental in the Denver area that was within her range, she felt. Yeah.

I don't know. Yeah, okay. And so Denver is a very, very expensive rental area. And so she moved. Somebody offered her a room over in the other side of the state. Right. So she's got herself into a mess because she overreacted and jumped away from her income without an income set up on the other end. And now she's dialed up a mess.

She has. And I have to tell you that the company she was working for promised her they would transfer her to full-time even there. Oh. So when she went, they had told her, yeah, we'll give you full-time there till we understand. And so she got there, and all of a sudden it was, oh, right now it's part-time. It will work into full-time, but right now it's part-time. So she did move thinking she was having full-time. Gotcha.

Okay. So Barbara, are you asking should you help her with her wisdom situation? Oh, I would. Yeah, I will help her as much as I can with her wisdom teeth situation. Is there any other ideas? I mean, what does the young girl do? Six jobs. Yeah. Six jobs. Yeah. Yeah. Yeah. Yeah. Barbara, you have to let her, she made the decision. So she has to live

with the consequence of that decision. I understand you want to help her as a granddaughter, but at the same time as young millennials, they need to start filling the weight of their decisions. If they make a bad decision mom and grandparent grandparents should not come to help them out all the time i made one bad decision dave my dad kicked me out the house and he said hey you're going to learn from that consequence because he knew that's the only way that i could really become the young man that i was going to become so i mean brava i wouldn't help her as much i agree with dave she needs needs to get multiple jobs. She left a good job. I have friends in Denver.

I understand you're saying it's expensive, but it's not that expensive to where she had to move that far away from a good, solid career path that she had going on. Yeah. So until these people come in with the full time, you work three other things. You waitress, you drive Uber, you deliver pizzas, you babysit, you dog walk, you do other stuff to backfill and and that'll get her where she can eat yeah and if you want to help her out with the wisdom teeth expense there's nothing wrong with that um but i'm not going to go along with the idea that somewhere in this process she was forced right and she's a victim of her circumstances she overreacted to her circumstances yeah yeah and uh when you tell me that that people cannot live in denver because the rent is high there's a victim of her circumstances. She overreacted to her circumstances. Yeah, yeah, yeah. And when you tell me that people cannot live in Denver because the rent is high, there's a whole lot of people living in Denver proving you wrong.

Proving, yeah. And so, you know, she just used that as an excuse and said, I'm out of here, I'm going to another city, and did not have her feet solid under. But you work three, four jobs, and then the other thing comes in. It's a full-time job. You can drop a couple of those, and maybe you can help her with the wisdom teeth and help her make the turn there financially. Ted is with us in Kansas City. Hey, Ted, your question for Anthony.

Hi, Anthony. I have two daughters. They're both doing very well, 18 and 19. It's a 401K question. Neither one wants anything to do with debt. They're both doing very well, 18 and 19. It's a 401k question. Neither one wants anything to do with debt. They're both fabulous savers and givers and spenders. The one is making a ton of money. She's a welder.

She's on the road. She saves money great, and she's starting to do the 401ks. My question is, should I advise her to just go to Edward Jones or someone or one of your ELPs or do her work ones and keep transferring them? Do you know if her work ones are matching her as well? Well, and that's the question. She gets the packets because she's a welder. She'll go on site. She could be there for three months. She could be there for three months. She could be there for six months.

But they do always send her the retirement paperwork, and I'm saying, hey, you need to get into that. So I guess that would be the question. If they are matching, it would be worth the rolling it over every time she changes jobs. Exactly. Yeah, that's exactly right. Absolutely. And then in addition to that, on the side, to have a stability piece in there, let her just do a Roth IRA with a SmartVestor Pro.

Okay, right. But you're saying she's working short stints, and so she's going to end up with 10 or 15 of these little baby 401Ks someday. She could, right. So should she, each time she leaves, roll it into the stable one she has? Yes. Yep. Yes.

Always take your 401k with you and do a direct transfer rollover when you leave always do that um but they technically are won't each one will technically be a separate account number but you can still look at the whole you know your whole portfolio in one place then from all the different rollovers and stuff as you go along so good question yeah good question 18 years old that's amazing that is amazing yeah that's debt-free welder she's making anywhere between 80 to 100 000 a year and already starting to invest into her 401k dave that sounds like an everyday millionaire to me i think it is i think we just talked to the dad of an everyday millionaire

yes sir that's very good well he's taught them well. I mean, they don't have debt and they're not afraid to go to do a trade. Yeah. And trades are paying. Dave, they're out there. Technical stuff and stuff like welding and the construction world and that kind of stuff. The trades are paying big. You know, Dave, I just had the opportunity to go to the White House a couple of months ago, and that's one thing that President Trump and his daughter talked about was we want to see that trade field active. There are so many jobs out there that are hiring, and I agree with you, Dave. Let's trade.

That's the route to go right now. Well, I mean, if you don't do college, you can do that. Yes, sir. And if you do that, you may not want to do college. I mean, you can go any direction you want to go these days. There's a lot of opportunity out there. Yeah. And the job market is definitely on your side if you're looking for one.

Yes, sir. Big time. Anthony O'Neill, where are you speaking again this weekend? One more time. I'm in Durham, North Carolina at World Overcomers Christian's Church, and I'll be there for all four services. So come check me out if you can. All four on Sunday? All four on Sunday.

Perfect. Good stuff. Anthony O'Neill, Ramsey Personality, joining us, the Teen Entrepreneur Toolbox, teaching your teens how to start and run a business, and the Graduate Survival Guide, Five Mistakes You Can't Afford to Make in College, anthonyoneill.com or daveramsey.com. Thanks for stopping by, Anthony.

Thank you, Dave. Thank you, Dave. Thank you, America. Hey, guys, it's Blake Thompson, chief production officer for The Dave Ramsey Show. This hour's up, but you'll find more on our YouTube channel where we have over six million YouTube views each month. You can find debt-free screens, millionaire hour clips, Dave rants, and so much more. Go check it out.