The Ramsey Show - App - Are CDs a Good Investment in This Market? (Hour 3)

Episode Date: May 16, 2023

Dave Ramsey & Rachel Cruze answer your questions and discuss: "Can I afford to be a stay-at-home mom?"  Teaching a 16yo about handling their money, "My brother is whispering in my ear about investing in CDs", The debt snowball vs. debt avalanche methods, "We feel unsafe in the house we just bought. Should we move?" Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Join a Personality-led FPU class. Click here! Enter The Ramsey Cash Giveaway for a chance at $3,000! https://bit.ly/TRSgvwy Shop our bestsellers during the $10 Sale! https://bit.ly/TRS10Sale Want a plan for your money? Find out where to start: https://bit.ly/3cEP4n6 Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Interested in advertising on The Ramsey Show? https://ter.li/s64ye3 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Live from the headquarters of Ramsey Solutions, broadcasting from the pods, moving, and storage studios, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. Rachel Cruz, Ramsey personality, number one best-selling author, co-host of the brand-new, wildly popular Smart Money Happy Hour with George Camel on Ramsey Networks. It's a big-time podcast.

Be sure and check it out. Hey, we're here to help you. The phone number is 888-825-5225. Diana is in San Jose. Hi, Diana. Diana, what San Jose. Hi, Diana. Diana, what's up? Hi, Dave. Hi, Rachel.

How are you doing? Great. How can we help? Quick question for you. I want to work towards becoming a stay-at-home mom in about two to three years. And I wanted to ask if you think I can afford it and if it's a good idea. Okay. So what do you guys make now with both your incomes?

So my income is about, I'm a little shy of about a million dollars a year. A million? One million, right? And my husband's about 150. Oh, wow. What do you do? I'm vice president for a major corporation. How old are your kids?

Kids are 9 and 11. And my goal is to try to be home for them during their teen years. Yeah. That's why I'm aiming for two to three years. Yeah. Gulp? Yeah. Wow.

I mean, you know, as you can see. I mean, you know, you tell me you're making 50 grand, we can have one discussion. When you tell me you're making a million, gulp. Yeah. But still possible, Diana. You can do it. You can do it. It's just a. Figure this out.

It's just a, yeah. It's just a lot. It's, I mean, honestly, what it is. It's a decision. It's a decision. It's a lifestyle shift. And that's it. But I think as a mom with three little ones i'm like i get it i mean being home i think is um

and especially if that's where your your heart is being pulled it's going to continue to feel that way and where are you guys at financially diana i mean obviously you're doing fine with income but like with uh debt house retirement all that where you guys at so on the house we owe about 650 000 okay um on retirement i have about a little north of 2 million and then in terms of investments and cash about 1.2 okay okay so he paid off the house today what would be the problem with that i could do that yeah you could all right and then we just pile up cash and how big a pile of cash do you want to have before you live on 150 yeah what's the track he's on is i mean three years from now what will he be making probably 175 yeah okay in san jose oh yeah cost of living but you can do that i mean you can do it and you're going to have a net worth of three or

four million dollars at that point how old are you 48 well done great job yeah i think you just say i'm gonna you know we're gonna have this pile of cash and we're gonna set up our lifestyle with no mortgage in such a way that we live on 175 without draining down the net worth and i would start practicing diana because honestly the shift not just lifestyle wise but even just mentally seeing certain numbers in the account that would hit on the 1st and the 15th with your paychecks that aren't going to be there I think there's practice living on his income practice living on that for like six months and I would actually pay off your house today and start living on his income as practice practicing that now okay yeah yeah but with no mortgage right yeah yeah if you pay off the house today and you just say we're going to set up a budget on 150 and we're going to live on that everything else is paid for and we're not going to deplete

the balance sheet to maintain a lifestyle that our income no longer supports after you quit yep and then yeah you just make that make that decision um and here's the deal too diana i don't know how you feel about this because i even pulled back from work after my third you know even with travel and stuff i mean there was there was a season there and still a little bit in it where i'm like when i can be home at certain times i'm going to be and so that was a shift i made in my career about two and a half years ago. And as high functioning as you are, which is way beyond me, what you're doing, but there, you obviously have something in your personality and your passions and that you're really good.

You have a skill set that you're used to using 40, 50, 60 hours a week, however much you're working right now. And to go from that to zero is gonna be a shift. Not that it's a wrong shift and you may love it, but you may even look up to Diana in three years. And when the kids are in school all day, you may be like, hmm, I wonder if there's like a thing I can do for a little bit each week. And I kind of do something here.

Again, not for the money, but simply for your skillset that could still bring in money. So I'm saying all that to say, you aren't going to be at 175 forever and ever amen uh you may be if you decide this is i just want to be the i mean if you quit in three years in five years after that you're probably uh got your kids graduating right yeah eight years from now so that's that lifestyle i would think about how I'm going to plug back in you may never want to plug back in at the level you are now but Rachel's right you don't want to get just

um uh I don't know personality whiplash I don't know what do you call it but yeah and you may and again you may transition into that and you're like dang this is what I've been missing and I love it and I'm so present and that's and that's awesome but I just wonder you because you are a high functioning individual to get to the level you are I wouldn't be shocked that you know that you want three four years yeah that you're like huh I wonder if there's something else here I have ideas with or I I want to use that skill set of myself again so that's that's all I'm saying because I don't think you'll stay at 175 forever either so and you know the the other thing is if you want to go back to this world a decade from now um you know figure out a way to leave yourself leave your uh you know the camel's nose under the tent leave

yourself an on-ramp without i mean without jeopardizing your your goal of being home with the kids but you know uh if you were in the medical world, for instance, I would tell you to make sure you kept your certifications in place. Let's not burn the bridges, right? Let's just take a five-year sabbatical and then figure out where we're going back, if you want to go back. That's right. Leave yourself that opportunity.

Not saying you have to, but obviously you've got a tremendous capacity to earn and diana i'll applaud you in that because i do think you know that um and again everyone's story is different everyone's passions are different everything but i do think when you when you're at that level of income the courage to say i'm gonna turn it off i'm gonna turn it off and that's what i said gulp yeah and i'm gonna and i'm gonna be home um that is that's i just applaud you in that not many people diana would do that really comfortable in your own skin and your own value system and to say i'm even gonna pull back my lifestyle because some people won't do that they won't sacrifice their lifestyle for an income that they're making but the amount of peace that you will have if you follow that gut and this is what you

feel like you're wanting to do, there's a peace there that doesn't have a price tag. You're going to do this. And your life is going to be so rich in so many other ways. And so I applaud you, Diana. I think that's really courageous. I think it's awesome. If you pay off the house today and you live on $150,000 for the next two to three years, and then you quit your job, you're going to have a huge pile of money,

and you will have done zero damage to your financial future. You're a bad A, Diana. To be 48 years old and freaking making a million dollars a year. What was her position, she said? High president of something, something. Yeah, yeah. I think that's amazing. High president. Yeah, that's the position. You're the high president. This something yeah yeah i think that's my president yeah that's

position you're the high president this is the ramsey show rachel cruz ramsey personality is my co-host today. Thank you for joining us, America. Matthew is with us in Jackson, Tennessee. Hi, Matthew. Welcome to the Ramsey Show. Hey, Mr. Ramsey. Thank you for taking my call. Sure. What's up? Hey, Mr. Ramsey.

I have a 16-year-old daughter that's just entered the workforce, and I want to make sure I'm giving her the proper financial advice that I was not given growing up. Okay. And she's 16? Yep, she's 16. That's great. What is she doing? She's a hostess for a restaurant making about $11 an hour. Good for her. That's awesome. And is she doing this to pay for expenses or car insurance? Is there like a big goal for her that she's working for or just to have some spare money? I wanted, she wanted to do something to get out of the house. And I said, and she also wanted a car. And I said, well, you're going to have to pay car insurance. So you're going to need a job.

And she got the job. she's paying her car insurance and she's starting the we're starting the baby steps uh and she's got about and she's on baby step three and she's got about she had 2000 had an emergency come up and she paid for her own money her car repairs wow yeah i'm very proud of. She's ahead of me on the baby steps. Very proud of her. That's impressive. What's her plan after high school? We've been talking about that.

She's still unsure on what she wants to do for the rest of her life. I said that's fine, but we need to have some kind of plan to get general education going. Yep, yep. Okay. Well, yeah. Okay. Well, that's great. Well, I think, you know, Matthew, one of the things about teaching anybody about money is kind of even going just down to the basics

that there are three things that you can do with money. You can give it, you can save it, and you can spend it. And we need to be doing all three all the time. And especially with children in the home, teaching those three basics is really helpful because that's just going to magnify as she gets older and has a career and earns money and starts a family, you know, and life continues on that she needs to know how and what to be generous with and what that looks like, what that feels like, how to delay gratification and have savings and knowing to put some savings away, which she has done

a really great job at already. And then to spend some and enjoy it and learn some mistakes in that area, right? Buying things that you realize, man, I shouldn't have bought that. But learning all of that, those three basic principles is a great place to start. And so that's one place I would just encourage you. And then, you know, even setting her up with a really simple budget, there won't be many line items, but for her to be practicing when that paycheck comes in, put some specifics around it on where it's going to go and what it's going to do and give it a name. So again, it's kind of just taking what we talk about here on this show and I'd say minimizing it some because it's not going to be the dollar amounts of a full-time job.

But still, those money habits, putting those in place early is huge. And they don't have to be complicated, but it's simple things like that. She can start building the wise spending muscle, the generosity muscle, and the saving investing muscle, even though the amounts aren't going to be large. They don't need to be. It's putting that groove in her brain. You know, we're starting to say this is how life works. And so my job as your dad is to make sure that you develop these muscles. So when you get the opportunity later to handle a lot more money, you're going to automatically go to wise spending, good generosity and good investing and saving.

And you're always going to be thinking that way. Debt avoidance. The only other thing I would add to all this from a practical standpoint is I'd go down and make sure there's a checking account opened in her name with your name on it where you have visibility and you look at it with her once a month and teach her how to reconcile that and how to keep a checking account properly operating. We did that with all three of ours and we did the save, give, spend thing with all three of ours. And when they went to college, they had a set amount per month that was their budget, and they were used to living on what they had, and they were used to managing their own checking account. I did not have drama with all three kids through four years of college each.

None of them called with financial crises in the middle of college because they had the muscles built to carry these different things. And Rachel and I talk about that in the book Smart Money, Smart Kids. It was Rachel's first number one bestseller. We did it together when she first joined us here at Ramsey after college, and it was her being the daughter part, me being the old man daddy part. But it's teaching kids how to handle money. And it's covered in there on an age-appropriate basis.

And, you know, you're doing a really good dad thing here, Matthew. Way to go. Yeah, absolutely. Yeah, and Austin will pick up, Matthew. We'll give you a copy of that book, Smart Money, Smart Kids, because it is a great resource. But I think what you're doing right now, honestly, is great. And then she's going to have natural questions like we did as kids

of questions about taxes later down the road and investments and all of that. Yeah, like after you get your first paycheck and you realize they keep a lot of it, you learn to vote different. It's just good for you. It starts forming politics, right? I don't know what happens with that paycheck. I don't like socialism. I don't like it when I'm the one that's earning.

You figure that out real quick. You don't have to be 80 to figure that out. 16 years. All right there. I do remember making a PowerPoint presentation asking for more money every month because I was driving home and I remember being like, I have no, I mean,

there's like no gas. I mean, I don't really have much. And I think I like, I have no, I mean, there's like no gas. I mean, I don't really have much. And I think I needed like an extra 50 bucks a month or something. And I did a whole presentation. Was that in college or high school? That was college. Really?

That's where I came home and I was like, I need. There's a PowerPoint presentation in college? Yeah, we did PowerPoint in college. Yeah, I know. But I just don't remember this. Yeah. It doesn't, if anyone, if anyone of the three would have done it, it would have been you.

Because it works. Yeah. That's funny. Did it work? Did we give you more money? Yes, you did. I was like, he is generous. You made the sale.

You made the sale. He is generous. It's a marketing presentation. Look at him there. Yeah, we raised that whole, raised it 50 bucks a month, and there your life was changed. That is for a college student. Yeah. Changes a lot. It was back when you went to college. Back when life was changed. That is for a college student. Changes a lot. It was back when you went to college.

Back when I was there. That's true. That's true. Zach's in Houston. Hey, Zach. Welcome to the Ramsey Show. Hey, Dave. Thanks for taking my call.

Quick question about investing. Okay. With interest rates being the way that they are, are CDs a wise investment option for right now, even for short term? Well, for short term. And short term is not an investment. Short term is savings. Okay.

Investing is long term. And you've got to outpace inflation and taxes long term. You've got to be north of 10 most of your life investing. And CDs aren't north of 10. Right. Even with a uh like a nine month uh cd why do you i mean what do you what what is this money for uh just general money that's set aside uh my brother's been whispering in my ear man cds man they're they're going up. They're the way to go. Way to go for what? To get rich? To get rich? I think just for short term is what he's looking at, not long term.

Yeah, I mean, the interest rates on CDs, high yields. They're not short term unless you have a short term goal for them. Right. So what are you going to use the money for six months, a year, when the CD cashes out? For my brother's intentions i have no clue no you for mine it's just for me it's just another way to bring in money just another way to get some kind of return okay it sucks for that okay we call them certificates of depreciation because they don't even keep up with inflation if inflation is running 9.6 and

your cd's paying six or seven you're losing money you get that right yes sir totally understand so next time he whispers in your ear tell him to get a girlfriend oh my gosh oh my gosh okay but i would say cds high yields money markets all of that are it it is wonderful when you have money in it for short-term savings because- It is short-term. Yes, that's what I'm saying. It's like for an emergency. You want an emergency fund. I know, but I'm saying if he's excited about the interest rates today with those accounts,

yeah, it is exciting versus what it was four years ago, three years ago. It's not exciting. Well, it is when I have short-term savings and I'm like, dang. You're not making any money. Yeah, but it's better than one or 2% than what it was. It is better, have short-term savings, and I'm like, dang. You're not making any money. Yeah, but it's better than 1% or 2% than what it was. It is better, but I mean. That's why he's probably excited, but for short-term savings. It's not a way to build wealth.

No, no, no, it's not. It's a way to park money more wisely. I'm excited about the interest rates today than it was there. Yeah, park money more wisely, but park it for a short term. If you're going to buy a house in September, and you want to park it until September, fine. That'll work. Well, here's a fact about Ramsey Solutions that I'm super proud of. We have never laid anyone off.

Wow. We've fired people for not doing their work, but we've never laid anybody off due to not being able to pay our bills. For the past 30 years, we've been doing what we preach. We run a cash-based business. We budget for everything, including having enough cash to pay the people that we hired. What a novel concept. And so far, we've been able to manage that. So we don't cut you loose because of our poor planning. When the quarantine happened and we

lost entire segments of revenue, everyone stayed. Everyone got paid. We had the cash, and we made the survival move to keep all of our talented people. So while other people are firing, we're hiring. And we've got open roles in our marketing, our sales, our technology teams, and we go home at 530. If you are a coder, we don't work you 80 hours a week. You write code.

If you're a marketer, we don't work you 80 hours a week. We go home. Now, there's exceptions when we're in the middle of working on some project or something, but 90% of the time I walk through the building, if somebody's still here at 6 o'clock, I tell them to go home. And we're not just a radio show. There's 1100 of us here at Ramsey Solutions. So if you want to check out the positions, the marketing, sales, technology, programming, check out the open roles at ramseysolutions.com slash careers. We'd love to have you on the team.

It's a great place to work. People actually care here about each other, about the customer, about getting our work done. It's really good. Oh, but you need to know, we work from work. We're at work, at the building, in the building. We work from work. So that's how that's going to work. So, RamseySolutions.com slash careers.

Check it out. We'd love to have you on the team. Ryan's with us in Minneapolis. Hey, Ryan, welcome to the Ramsey Show. Hi, thanks for taking my call, Dave and Rachel. How are y'all doing? Better than we deserve. What's up, sir? All right. So my wife and I are currently working on the debt snowball. We've paid off our credit cards and student loans. And we currently have a unit we had to replace in two cars. And my wife being a math teacher wants to attack the cars with the interest rate versus the cars without interest rate. And just kind of the numbers, we owe AC about $6,000 with 3.75% interest.

One car is 11,000, 0% interest. And the other car is 30,000 with 3.5% interest. And she thinks mathematically it makes sense to hit that 30,000 first and then work our way down. And she doesn't understand the kind of attacking the smaller working their way up and all that. So I just kind of want your advice on kind of the relationship-wise attack in the snowball and just not convincing, but just further ammunition. Well, earlier, Ryan, what were the other debts you said you guys paid off credit cards and student loans? How much were those? Student loans. I was the only one with student loans, about $30,000. Credit card was about $8,000. What's your household income? $175,000,

about to be $90,000 in fall. So we're about to get more money, and I want to make sure we're attacking this smart. Okay. Well, I think we need to pan back from uh the discussion of the debt snowball for a second and establish some different principles because when i first started doing this 30 years ago i went at it the way your wife does and most people in the financial world i try to fix all of our personal finance stuff with a math solution the problem is math did not get us into this mess because if you were doing math you wouldn't have all this freaking debt right it's not a math problem it's a behavior problem you've been buying crap you can't afford with money you don't have to impress people you don't even really like i mean it's a behavior problem and so you don't attack a behavior problem with a math solution uh she's technically correct on

the math part but she's wrong on how to do this and the reason she's wrong is you need to fix a behavior problem with a behavior-based solution. Does that make sense? Right. Yes, sir. And so in psychology, they call it quick feedback loops. And a quick feedback loop is I need some small successes to build my confidence and hope so that I increase my momentum and my energy and my commitment to a process. And so, in other words, when you start first losing weight if you gain five pounds you're not going to stick with it but if you first start losing weight and the first three weeks you're on the plan of

uh you know eating um whatever i don't know carrot juice or whatever it is you're going to do and you uh whatever your plan is whatever the fad this week is on losing weight you're going to eat less you're going to exercise more and you've got this new way of doing things and you're intentional about your intake and intentional about your exercise level uh for the first time in maybe a few years and you lose four pounds that that's encouraging do you know what i'm saying yep and you'll stay with. And so that is a feedback loop. You did the work and you got positive feedback. And the more you can do that, the closer you can keep those loops together, the higher the probability of a habit being changed permanently is.

And a way of doing things being changed permanently is because this is a behave a series of behaviors that have to change and then the math changes not the other way around so all of that to say you pay off your smallest interest rate first i mean you pay off your smallest debt first because you get the success god i just blew that okay that's hilarious and let me say this ryan pan back i know what you mean yep and also let me say this don't you guys as a couple are on the same page of getting out of debt so if you both have agreed we've been so stupid we have bought cars we can't afford we've had credit card debt we win student loan debt like we are done with this life of debt right and as a family as couple, you agree on that.

And then the next step is, okay, how are we going to do it? But the major there is already resolved. You guys are working towards the goal, right? We want people to be free from debt. You're a lot closer to winning than if she said, I want to stay in debt. That's right. And we talk to a lot of people we have this show that that's where they're at right so i see that i'm like whoo that's a big

hurdle yeah you got right there's a part of me too that i'm like listen pay off that that six thousand with the 3.75 that makes her happy and then the car there's a little bit of me too that i'm like listen pay you're both gonna pay them off it's smarter to pay off the 11 000 with the argument that dave just said and it's exactly right but at the end of the day too you know like you guys are on the same team so get out of debt right so there's a part of me too don't don't like be in this massive fight day in and day out of how you're going to do the goal it doesn't need to be a massive fight it needs to be a change of how you're addressing it though yeah but if you both say that way you look at it

has to change because if you look at it through yeah but if you both say that way you look at it has to change because if you look at it through a math lens you're always going to lose it's not a math problem it's not but when they both say hey as a family we're not doing this again like they agree on that that's the first step that's the first step yes but it's not the last step the last step is okay ryan here's what you have to do i mean the two of you it's her and you both me too by the way okay so it's like i i hired a personal trainer to the i've got this gym in my house and he comes over and he's got a six-pack and i got a keg all right and he he says okay you need to eat these three things in this order and i go well you know i don't think i'm i think i'm going to

eat them in a different order well why would i that's dumb you know that just doesn't make sense he's he's got a proven process right i know i need to do what the duper said to do i hired him to do it it's and you hired me to teach you how to do this no they didn't hire you i know they did too they gave me their time and so um listening on the show and who knows i'm about to give him a book and then he's going to go to financial peace so he hired me but the uh but you're doing great attack it pay off the smallest one i know but guys it's it's important though and no i'm not going to acquiesce on this. It's not okay to look at stuff through the wrong lens that doesn't have the success principle to it. And so if I look at what my trainer says to do and I go, you know, I'm going to do two-thirds of that,

and I'm not doing that other thing, then I'm going to get a muted level of success. Obviously. This is The Ramsey Show. our scripture of the day proverbs 425 let your eyes look directly forward and your gaze be straight before you stephen covey said most of us spend too much time on what is urgent and not enough time on what is important. You know, Covey had in his book, Principle-Centered Leadership, it may have been in Seven Habits of Highly Effective People, too. The quadrant of time that you manage in four different quadrants, urgent and important. Phew.

Urgent, important, or see, urgent, not urgent, important, not important. Yeah. And we spend too much time on things that are urgent, but not important. Let it be like answering your email, you know, or making sure you check your Twitter feed. The slave of the digital world. All right. Robert is in Atlanta.

Hey, Robert, welcome to the Ramsey show. Thank you so much for taking my call. Sure, how can we help? So my wife and I have found ourselves in an unsafe house, we believe, and so we're thinking that we're going to have to move really ASAP. What's wrong with the house? Well, so we didn't really do our research up front. We had a baby that was due within a couple of weeks by the time we bought it. And so we brushed in the upsides and make room for the baby,

but the location just kind of is more unsafe. You know, we hear a lot of crime activity going on around us, you know, gunshots every now and then. So that's kind of the gist. What was the event that broke the camel's back? What was the latest thing that went, I've got to get out of here? I think within the first

two weeks, we had our cars broken in two. I'm done. I'm done. Sell it. There you go. Sell it. Get out of Dodge. You live in Dodge City. Shoot up and down the street right right yeah right that's it get out of dodge no pun intended but yeah really do it yeah i mean and it doesn't matter how much we sell it for well i mean you don't have to panic uh i mean do you have any money it's important not urgent

yeah do you have any money might be urgent i, not urgent. Yeah, do you have any money? It might be urgent. I don't know. We've got about $30,000 liquid. What'd you pay for the house? We paid $345,000. Call a Ramsey-trusted endorsed local provider for real estate. Sit down with them and tell them that you want to sell the home in what is a reasonable period of time,

a reasonable price for the house to sell the home in what is a reasonable period of time, a reasonable price for the house to sell in 60 to 120 days. Okay? And then decide, do I want to go ahead and move, or can I make it that long? Okay, understood. Can you make it that long? do you feel safe enough to stay two or three more months or do you need to go ahead and move now well we've been there for six so you know six or three more months probably could happen

six months right and two cars got broke into okay right right that's that's right yeah okay y'all talk about it because hey listen if they're shooting up down the street and they're breaking into my cars and i got a new baby i'm gonna go rent go rent an apartment and move and put it up for sale and when it sells i'll talk about buying somewhere else but right now we may not even buy just go get go get in go get your family safe right you got to get out of the freaking war zone am i missing something no the other the other question was just you know is renting an option you know if we were to move you know renting is fine because we need to you know build up some capital for the next down payment and we can take our time be calculated with the

next one of course yeah um but you know if we yeah is renting an option yes current one you know that yeah to start with it's your only option right now if you move out this weekend because you don't feel safe okay so you're going to be renting a while and that's okay but if you say we're going to rent for two years build up cash and slow down slow our roll and get a better you know get a much more diligent careful process when we buy next time sure yeah i'm sorry i may not have been clear i guess the current house given that the atmosphere is changing in that area appreciation could be a thing in the next few years. And so if we could hold on to that.

No, no. If we have to move because our family is not safe, we're not counting on appreciation. Okay. That's just, you live in Dodge City. No, I mean, the cool people are living there, but the cool people are not scared of the bullets. Okay, that's fine.

You got hipsters next to gangsters. I got it. Okay. But that's one of these gentrification neighborhoods. But this is okay. You can do that. But you told me with the start of the call, you have a new baby. And as a dad, you don't feel safe. So if you don't feel safe, don't invest in the area.

Okay. 10- area. Okay. 10-4. Understood. Thank you so much. Get out of Dodge, man. Yeah, it's that. And also, you know, yeah, if you guys don't feel safe, of course, then move. Like your peace of mind is very important in that way.

But also, we have friends that live in part of nashville though that i mean there is there's a lot and it is and it's four or five areas on my hand right now yeah and people live there and they're expensive houses you know what i'm saying so and some of them are nice houses and it's the top it's the tolerance level of what feels right to you so that's why i'm saying it is the difference in a boomer and a millennial i think so for sure because no boomers no boomers are going to live next to gangsters and call it fun millennials think it's funny i don't understand i think it's these hipsters next to gangsters makes no sense to me it makes no sense but it's everywhere it's i mean i get it i see it happening and it's the regentrification neighborhoods is the

nice way of saying it but um and you know and he's right if if it continues and enough people don't get killed in the process then if it continues i think then it will be a huge investment in nashville in a suburb of like it's a we are we're in a suburb yeah but I just saying like we have friends that have moved here from Chicago from other areas and yeah you hide your purse like it's just like there's a different safety measure of how they're used to living life than we are so like I'm saying your tolerance for all of that is very low which is not wrong no but I'm also saying to Robert next to gangsters it doesn't matter that's what his case is you keep saying that i don't know i don't know what it is i mean when they're shooting up and

down the dadgum street and you call it fun i mean i don't get this not you not you but i'm just saying people some people have a higher tolerance for where they live and so but robert that's what i'm saying it's so individual and if ro Robert and his wife aren't comfortable with bullets and car being broken into and have a new baby, that makes them normal. Yeah, that makes them smart. Yeah, I mean, I hear you, but I'm also broadening. Childhood friends of yours bought house, door kicked in, robbed the whole place in one of those neighborhoods right after you got married.

I remember the story. Okay. Won't name the name. We're on the radio. But the, yeah, this stuff, it boggles a boomer's mind. I'll just tell you. I get it intellectually. Emotionally, I don't understand.

Why not go somewhere else? I don't get it. Well, half the company lives in some of these places. And there's great restaurants. Half the guys in the booth in there do. Probably. I don't know it's like it's like company lives in some places and there's great restaurants in there do probably i don't know but um yeah it just it's it's crazy and the one the fun one have you seen the uh nashville judgmental map oh gosh don't stop we're moving on no no we're moving on i don't even know i don't want to know i'm nervous i'm starting to it's making fun it's making fun of us out here it makes fun of every neighborhood.

Okay. And so it's an equal opportunity offender. And it's great. It's like this one's gangs. This one's gangs that kill cats. This one's hipster trust fund babies. Why? Why are we doing this?

This one's boomers. This is boomers like Ramsey. You know, I mean, it's like it makes fun of everybody. It's hilarious. Oh, my gosh. Oh, I think it's funny. I sent it to one of my buddies who bought a house in one of those neighborhoods. So you got to have fun with this, y'all.

You got to have fun with it. I truly think that that is a difference generationally that I have seen that is way different. Because the generations prior to mine and then mine were suburbanites. And they came to the suburbs for a safe. They left, yes. They either left the farm or they left the inner city to come to a safe bubble. And then the generations following are going back into those areas and re-gentrifying them and living in them.

And that's what he's dealing with. That's what he's dealing with. That's what he's dealing with. So it's very interesting. All right. That's a fun discussion. Rachel Cruz, always a joy. I'll be back tomorrow. The guys in the booth, always a joy.

Get ready. Y'all just get the hate mail lined up. We're going to burn it for Kinlan. That puts us out of the Ramsey Show in the books. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus. Hey, it's Rachel Cruz.

If you like what you heard in this episode and want to know more about getting started on the Ramsey Baby Steps, go to RamseySolutions.com and click the Get Started button. We'll help you figure out the best next step for you based on your specific situation. That's ramsaysolutions.com and click Get Started.