The Ramsey Show - App - Be Planning for the Future Before It Catches Up With You (Hour 1)

Episode Date: April 15, 2024

Live from the headquarters of Ramsey Solutions, it's The Ramsey Show, where we help people build wealth, do work that they love, and create actual, amazing relationships. I'm Dave Ramsey, your host. Thank you for joining us, America. Ken Coleman, number one best-selling author of the book Paycheck to Purpose and host of The Ken Coleman Show. He talks about your professional growth, including where you work,

how you work, and all about career stuff. He's going to be here to help me today answer your questions. The phone number is 888-825-5225. You jump in and we'll talk. Joy starts Rapid City, South Dakota off. Hi, Joy. How are you? I'm very well.

Thank you. Good. How can I help? My husband and I are 69 and 70 years old. We retired two and three years ago, but we still work what we call retirement jobs. We just don't have a very big net worth at all, and we don't mind keep working our retirement jobs. But I guess I'm wondering, what more can we do? I'll tell you, we have a traditional IRA. We have two Roth IRAs and we have an annuity. How much is in all of that if you totaled it up?

About 140 and that's all. 140,000. Okay. Yes. We do not own a home. We did our stupid a few years, 10 years ago, and, yeah, so we do not have a home, and I don't know. I guess I'm just really wanting to see these figures move up. Okay. And obviously you've got Social Security coming in. We do live on Social Security. How much is that a month?

That's how much? Oh, okay. on social security how much how much is that a month that's how much oh okay um i bring in 1333 and my husband brings in only about 300 in social security because he has a foreign pension and because of that 1600 and how much is his foreign pension? Let me see. He brings in, I have it right here, to $3,300 a month, depending on the dollar ratio, of course. What the conversion rate is, okay. Correct. Okay. So you've got $5,000 a month to live on.

What does it take you to live um we we live on probably yeah four thousand five hundred maybe just four thousand sometimes well you got that much coming in you got five thousand coming in yes and then you're working on top of that yes okay so i mean the the good news is you have a sustainable situation. You're not going to be hungry or the lights aren't going to get cut off, right? That is correct. You're probably not going to spend summers in the Mediterranean, though. No. Okay.

We are very carefully saved if we have to take a family trip or something like that. We save. You don't have a lot of margin but it's good news is you're not hungry when you started this out i was afraid you were hungry okay good so no so what is it you're trying to accomplish that you're not accomplishing now let me understand i just know that 140 000 in retirement agreed is not enough agreed for one person let alone two agreed i'd love for you to have a million 140 000 uh but you know so how our ages we're not going to get i got that yeah that's what i'm saying so i'd love for you to but the reality is this is where we are and so the work

that you guys are doing is just adding to your $5,000 a month income and gives you a little bit of lifestyle bump and the ability to do a few odds and ends without cashing in the nest egg to keep going, correct? That's right. That's right. I don't know. What is the $140,000 invested in? It's in a bunch of different things. It's Roth and traditional and annuity.

How much of it's annuity? $6,800. $6,000 is all. Oh, good. Okay. All right. So most of this. $68,000.

Oh, $68,000. Oh, crap. Okay. So, all right. The only thing I can tell you is that we might get to you might reorganize and shuffle the deck on the 140 000 and get it invested in some good mutual funds and get it working a little bit harder okay but let's say let's say it's earning uh 10 percent or let's say it could earn 10 that's 14 000 and right now it's only earning five that's 7 000 a year so

we're only talking about 500 bucks a month difference even if you get it working a lot harder so it's not going to be like it's not going to be a massive change in your life if we if we get the 140 invested perfectly as opposed to the way it is because the 68 000 in the annuity probably sucks it It's probably doing poorly. I don't know exactly what you got, but most likely that's a bad product. Some stupid insurance person sold you that instead of a real investment person. So the – because they can't sell real investments, so they act like they're investment people,

although they're actually insurance people, and they're not licensed and qualified to sell investments. So they sell annuities under the heading of their life insurance license because they're not licensed to sell investments for those of you out there. Okay. Now, I mean, it's not just me calling them stupid, although that does completely apply to that situation. So, all right. So here's what I want you to do. Go to ramseysolutions.com and click on our Smart Investor Pro and sit down with them. And Ken, that's going to help because at least then you'll know what you've got is just working as hard as it can. Yeah.

And, you know, we sit in this situation, practically speaking, Joy, this is about stacking cash. You're just going to have to stack cash. The investment opportunity is just short. Maybe their retirement jobs could be better. Maybe they can make more money at their retirement jobs. I think so. You know, here's where I go. My mind goes to, are there Walmarts?

That's what I call a retirement job. Instead, I would like to see them be self-employed and go make like $50,000. Because I got to tell you, man, if I was broke, I'm entrepreneurial enough, I would just start something even if I'm 69. I was thinking that, although I would say low risk. Let's do some low capital self-employment. We're not buying we're not we're not putting out 140 to open a business yeah but I mean let's get let's get some kind of something. Let's say he's got a trade skill right so if he

has a trade skill at 70 now my father-in-law I'll give you a real example is 74 very healthy though but he is a former custom home builder and he he's retired. And he is working more than he could possibly want to work, but he's making such good money doing small renovations, fixing a kitchen here, doing a bathroom here in Williamson County where we've got plenty of money and people have got time and they can spend it. And so if I had a trade skill at that age, I would absolutely be doing that instead of working for a Walmart. Because to your point, you're going to get a premium rate for your time.

We're talking about an hourly rate. Maximize what you can make. And stack cash at this point. And don't just say, well, retirement job means awful. I agree. Minimum wage. I agree. If you have a skill at this point, listen, in the economy.

Or start something. That's what I mean. By starting something off of a skill. Oh, I, in the economy. Or start something. That's what I mean, by starting something off of a skill. Oh, I see. In my father-in-law's case, he started his own home renovation business, and he's not doing full rebuilds, but he's doing a lot of stuff. And he's not swinging a hammer. No, he's got a crew.

He's subbing it, yeah. Still being a GC in that sense. That's exactly right. That's exactly right. That's the way you do it. So there's a lot of stuff. So, Joy, let's do two things. One is, what can we do to get your income up, better, quote, retirement jobs, unquote,

and get with a smart investor pro, and let's see how, if they can help you get that $140,000 working a lot harder. Those two things together, and you've got to stay on a tight budget, and I think you're going to be okay. But I don't think there's going to be anything here that adds a million dollars to this issue. This is the Ramsey Show. Ken Coleman, Ramsey personality, is my co-host today. Open phones at 888-825-5225. So, those of you that are not as old as Ken and me, you're not old like us. You're youngsters and you're out there watching us on the YouTubes and all that kind of stuff, right?

I want you to go back and listen to that last call. So if you're 27 instead of 67, here's what I can tell you. If you save $100 a month from age 25 to age 65 in a series of decent growth stock mutual funds that perform as the market has performed for the past 100 plus years. If they have normal historic values from age 25 to age 65, $100 a month

is $1,176,000 in your retirement. And that way, you're not in the same situation that sweet lady was in. That's exactly right. And so you're not having to worry about your, in air quotes, retirement job. And so I have another friend, Ken, who's way on the other end of the spectrum and his father-in-law is their age or a little bit older than them he's uh in the in approaching 80 and he was a um he became um he's probably legitimately a billionaire. Wow. And starting from nothing, he was a poor kid.

He grew up poor. And his goal was to give it all away before he died to ministries around the world. And my friend is married into that family and sits on the board with the rest of the family as they're giving this money away the old man is still alive and he has just about succeeded giving it all away wow i need to get in touch with him pretty quick that's how do you get on this list i just came up with an idea for a non-profit ministry kid i know i got a ministry idea right now it's not your car yeah um it's not the next car you want. That's right. I mean, you know, that's beautiful.

These are all ends of the spectrum here. Yeah, that's beautiful. A hundred dollars a month is a million dollars. Living on Social Security and a retirement job are trying your best before you die to give away a billion. Yeah, that's amazing. These are three ends of the spectrum. I mean, two in the middle and two ends of the spectrum. So these are the things, if you're a youngster out there,

you could be thinking about that, I'm saying. There's a lady out on the front row of the lobby that just is trying to wrap her brain around giving away a billion dollars. Man, that's a lot of money. It's a thousand million. That means you could take a thousand different ministries and give them a million dollars. That's amazing. And they've done more than that because it's continued to grow through the years oh i'm sure

it's not just been one time it wasn't a one-time thing they've been systematically for 30 years giving it away you know that puts a real shine on give like no one else yeah like you've been saying for a long time that's pretty wild and this guy was not a trust fund i mean he started from nothing started from nothing yeah andrew is in min Started from nothing. Yeah. Andrew is in Minneapolis. Hi, Andrew. Welcome to The Ramsey Show. Hi, Dave. Thanks for taking my call. Good.

How can we help? Almost answered it right. It's all good. It happens. It's like automatic of 30 years. He's only said it two billion times. You've got that experience. It's all good.

Yeah. You've got that experience. It's all good. Um, yeah. So my question, uh, is basically, um, if you were trying to start over, um, I had a small business of mine wasn't technically legitimate, but I tried, uh, when I was about 19, uh, and it fell through and then a whole lot of life came apart for a few years and I'm, uh, getting myself back together. I'm in a corporate job now as a mechanic and I wanted to open my own restoration shop and originally it was actually supposed to be a non-profit as well. So my question to you is kind of how... It actually was, that's why I closed. Well, yeah, you're not wrong. So yeah, my question to you is what might restarting that look like or how would you do it debt-free starting at 28 years old?

So fixing cars just for everyday people? Ideally, no. I can, but anymore, that's getting into just changing parts. So describe what you want to do. You want to do frame-up restros on cool cars? Frame-up restorations or customs where I'm actually changing things and turning them into something better than what they were. Turn them into rods.

How much equipment would you need if you were going to start today? Do you have the equipment, or could you rent it as a part of the job? Could you rent the rest? I have some of it. Right. Potentially. So the biggest obstacle that I don't have is a space to do it in. All right.

Could you, if I said that you had to find space in the next week to be able to do a restoration for Dave, could you find the space? If I made you answer it right now. You don't know. I basically know. I bet you could find a space. Don't you think if you really had to? It's a freaking garage. Yeah.

Well, I have a small garage, but I've had a lot of obstacles come up with that. My landlord's not letting me upgrade any electrical. I think you're missing the point. You're coming up with all the reasons why you can't find space. Say again? How much do you make? I'm around 70, but I have a lot of debt on a, I have a lot of just student debt, nothing else that I've been working on for a while now. Okay. And do you have anybody that might be your first customer in mind? I've tried one or two

once I actually give them a proper cost, they tend to step away. I haven't found the right people yet. So the answer is no? Yeah. Okay. We don't go rent a garage when we're renting a house and start this, but I think you've – how much debt do you have? I've cut it all the way from $100,000 down to about $30,000 in the course of three or four years.

Way to go. All right. I think if you finish that up and you talk about renting a garage for $400 or $500 a month somewhere, because location does not matter other than they can't steal your tools every night. Yep. But if you can lock it up that's all that matters right and so um it looks you know so cheap and and and you know simultaneously while i'm trying to find that and i want to rent it an old gas station or something like that that well they don't even make

those anymore um but the uh um in any kind of a thing that had a bay in it. But before I actually start writing checks for that, I actually want some customers, doesn't it, Ken? Yeah, you got to get us started. And if I'm you, okay, this is how we answer these questions. If I'm you, I'm now starting to stick my nose back in the industry, local guys that are doing cars. Here's what I know. I know for a fact in just about every city

in America where you want to get a car restored, there's a long line and you got to get on the list. And the reason that is, is because there's just not enough hands to do the work, which tells me that there are several shops around you, Andrew, that if we looked hard enough, if you and I got in the car today and drove around, I think I could get you a freelance job before the day was over. And so I'd start there. I'd start freelancing, just kind of, hey, you need me for 10, 15 hours a week. I got a day job. On the side.

On the side. I got a day job. Nights and weekends. Nights and weekends. And that's going to help you pay this debt off. So we got two things. We got two birds with one stone here. Extra money to pay down the 30 grand quick.

I really believe you could do that within a year if you really got hustling all right and then the second thing is i'm back in the industry or still and i and i got i'm meeting people i'm getting paid to get reconnected in the industry and that's when i start finding out about more people well i can't take this job but we would never take this job because it's too small. But for you, a $10,000 job is great. And you'll jump on that and you do it on the side. So I would build the business up on the side, rent the equipment, do not pay cash for any equipment, rent anything you need as a part of the job itself. The big stuff. That's right. The big stuff. And I think I would just slowly start to stack cash. And then here's what I tell everybody.

How do we go from day job to that side job being the dream job? In your case, if you're making 70 grand, I want to have 70 grand in the bank. Ideally, I'd want 12 months. You could go as low as six months of that, which is 35, before I ever walked away from the day job. And that's just me playing it safe. This is why, Dave, I'd hate for somebody to have this massive pressure to feed themselves right away. I want some cushion there so that you can really focus on doing the job and growing the business. This is The Ramsey Show. Well, I don't know when you happen to be listening to this, but we're going to do something we don't usually do, and that's tell you the date.

The date of this particular broadcast that you are hearing is April the 15th. It's the day that my net worth goes down because my government steals my money. you need to pay your fair share well you should then and shut up yeah 49 of americans don't pay pay zero federal income tax so don't talk to me about fair share okay i got your fair share it's's not very fair. Not fair at all. I can't breathe. Anyway, so I do a lot of whining and crying and cussing and, you know, beat on people whose it's not their fault just for the fun of it this time of year just because I'm generally in a bad mood when I sign these returns.

Did you see your good buddy Mark Cuban went public with his tax amount? I know you're not on the Twitter much anymore. No, I'm not on Twitter. It's not good for blood pressure. How much did Mark pay? $288 million, and he was putting it out there to say how. That's how much he paid in taxes? Yeah, then he revised it this morning and showed the note from his accountant.

It was actually $278, and he was espousing the importance of paying your taxes as though we have an option. It was a little political move but nonetheless that's not the point he put it out there that that's what a tax burden he's saying he liked that he said i'm happy to pay my share you know what he could just send them some more that's what pay mine if you want if you want to send them some more you can since you're dadgum happy mark yeah communist Yeah. Communist. There you go. Oh, my gosh. I wanted your hot take on it, and boy, did you deliver. Thank you, Dave.

I love you, Mark. Right on time. I love you, Mark, but that was stupid. I got some friends that do stupid stuff. We've all done it. Oh, man. No one's immune. I can't.

Yeah, really excited to tell us all how much you paid. Well, I, yeah. Okay, James, so you found somebody else that's crying, right? All right, so this is going around the internets. Where's all your money gone, buddy? Taxes. Six, nine, ten, eleven. Playing Monopoly.

Who takes my houses? It's okay. It's part of the game. No, it's not. It's not fun. It's not fun to what? It's the worst part of the game. It's what fun to what? It's the worst part of the game.

It's what? Taxes. I think the kids understand. I couldn't agree more. I got a little verklempt in the middle of that. I'm thinking Monopoly's got – I got a tear in my eye watching Monopoly 2. It's just like – Oh, man. Well, just to remind you guys if you're

getting a tax refund it is not time to celebrate uh because a tax refund simply means you paid in too much and they gave you your money back without any interest that would not be something to celebrate it's an interest-free savings account with a freaking federal government so you didn't do something right if you got a tax refund you did something wrong because you had too much taken out of your check and then they send it back to you. Santa Claus is not in charge of the IRS. He did not send the money. I know him. He doesn't go anywhere near Washington, DC. Those people are all on the naughty list. So that's how this works. Boys and and girls you don't get a refund unless you pay in too much let that sink in a second all right so now if you haven't done your taxes you got to

get them done right now of course because they're due by midnight so uh there's two ways to do it at ramsey we've got ramsey smart tax software which is very inexpensive if you have a simple return don't go to something like turbo tax those guys, because really all they're doing is actually trying to sell you debt. They put you on the credit card list. They put you on their home equity loan list. They just start hammering your butt to put you in debt and the add-on fees will get you. So Ramsey tax, smart tax is just very simple, very inexpensive way. Boom, you file it. Like if you've got a 1040 easy, you can do it in a few minutes with this. And it's very, very accurate, very well done, very well built out. And if you've got a complicated return, go to RamseySolutions.com slash tax.

And you can see our tax endorsed local providers. And you can get a pro to do your return for you that we have done the due diligence on. And God knows it's complicated. So you've got to have somebody knows what they're doing if you have a complicated return so you can get an elp and you know you're going to pay a professional to do that and um and if you don't have a complicated return just use the ramsay smart tax software it's both of them are real easy to do um those people that are members of uh ramsay trusted or i'm sorry of um ramsay, they're a financial peace university and all that stuff,

they get Ramsey Smart Tax free for a quick, easy return. So that's just one of the benefits of being in that thing. Henry's in Fort Lauderdale. Hi, Henry. Welcome to the Ramsey Show. Hi. How are you doing, Dave? Better than I deserve. What's up? So my question is, I did something very stupid last year. I went ahead and got a tesla at 13 percent uh my payments are 903 a month um and i just we my wife and i i didn't

listen to my wife and i did whatever i wanted to do so now i'm talking to the man that's like four dumb things tesla 13 percent nine900, didn't listen to my wife. That's four dumb things. Yeah. So my question is, we were thinking about getting a personal loan to pay the negative equity because I owe $43,000 on the car, but it's only worth about $19,000 to $20,000. When did you buy it? Last year, around March. on the car but it's only worth about 19 to 20 when did you buy it last year around uh march i wasn't aware they were depreciating that bad i make fun of them all the time but that's a lot did you roll

negative equity into the deal uh about 5 000 okay where are you getting your number on what it's worth now that sounds very low um kB, Webster KBB. Yeah. Private sale or trade-in? Trade-in. And it's because I use my car for work, so I'm putting a lot of miles every single day. How many miles did you put on it in a year, honey? About 30,000.

Okay. It's at 65,000 right now. Yeah, but trade-in is the lowest value you can get. Yeah, I mean, private sale, but still it's not going to be like $5,000 or $6,000 higher probably. So you can get $25,000, $26,000 for a private sale, and you owe $48,000? $43,000. $43,000. Yeah.

And we have some money saved up. How much? About $15,000. $15,000? Yes 000 15 yes okay well i'll cover it won't it um well i'm down uh what is it 25 000 negative that's if you try it no you're 23 not not i'm not going with the 19 i'm going with like a 26, private sale. Okay. And you owe 43. That's not, that's more than 15. It's 18. So, yeah, but you still got, what's your household income?

$80,000. Okay. Yeah, I would use the majority of the savings, and I would sell at private sale, and I wouldn't panic. Sell it for, I mean, you can find somebody that loves those things. Yeah. And, you know, get a private sale number for it, not a trade-in number. And then you may have to take out a small personal loan, $4,000 or $5,000 it sounds like. And then you've also got to figure out how to get a hoopty that you can drive as your penalty.

What were you driving before this? I was driving a Toyota hatchback. My wife told me to stay with it. I didn't listen. How old was it? What was it worth? It was about $25,000. Where did that go? I traded it in for the Tesla. Did you owe money on it? And I rolled $5,000 negative equity on it. That it and i rolled 5 000 negative equity okay that's right you did say negative equity okay all right yes okay all right so have you had enough fun with these cars that you can't afford i mean buy something cheap dude and get your butt straightened out and then save up and become wealthy and then get you a nice car. These things are wearing you out.

$5,000 here, $10,000, $15,000 here. They're starting to turn into some money that you're losing. Yes, I agree. Yeah. I'm going to give you two words you should practice over the next, I think, year and say it a lot, especially in light of this. Yes, dear. I agree. Or you could substitute sweetheart if that works better yes dear i agree yeah it's all i

got for him oh i got three don't save the planet or whatever four whatever that is yeah oh gosh 13 on a battery killing me. I wish George was here. I wish Rachel was here to make fun of. Cut this clip up and send it to George and Rachel. They're both Tesla drivers, so we just love making fun of them just because it's fun.

Oh, man, I'm so sorry you got yourself into this, but yeah, you figured it out. There's four things you don't do. $900 car payments, 13%, Teslas, and listen to your wife. These are four things you don't do. $900 car payments, 13%, Teslas, and listen to your wife. These are four things you don't do. This is the Ramsey Show. Ken Coleman, Ramsey personality, is my co-host at 888-825-5225. You know, we had a lot of fun at that last caller's expense he was being kind to us let us do that but um but we also answered his question in the process i think it's probably

good for take a second and just um talk about for our audience um the we were joking about listening to your wife but talk about about the principle that's involved here. So when I went broke 35 years ago and lost everything, we had owned, I was buying and selling real estate. I was doing Flip This House before Chip and Joanna were born. And so, and I've owned pieces of real estate that to this day, we're driving around Nashville. And I'll tell Sharon, I'll say, you know, you know we own that house she's like i never knew it i was doing deals and my wife had i wasn't hiding it from her i just didn't ask i was just running my business doing deals and she's with babies at home and we just didn't talk about just doing it and uh she didn't ask about the structure of the

business and i was doing whatever i wanted to do because I was a genius. Not. And after we went broke, I was a baby Christian, just met God, and I started finding out that the Bible had principles of how to handle money. And they all, almost every one of them, they're not really mystical. They're all basically common sense things like borrow or slave to the lender, so stay out of debt. Don't build a tower without first counting the cost, so do a budget. Live on less than you make because a foolish man devours all he has.

So there's scripture that says live on less than you make, stay out of debt, save money. And the one of them I found is, well, I can't call. Anyway, who can find a virtuous wife for her worth is far above rubies. The heart of her husband safely trusts her, and he will have no lack of gain. And I went, wow. Okay, there's a couple elements I like here. One is no lack of gain.

I like that plan. And I can safely trust my wife, and she is virtuous. Now, part of being virtuous is you don't take that particular Bible scripture and decide you're the Holy Spirit, wives. And so, you know, you're not the Holy Spirit. And so virtuous is I might be wrong. Virtuous is I've got an idea, I've got an opinion. In my wife's case, she's from the hills of East Tennessee.

She gets a feeling. And so it's a seven-syllable word, and it gets a feeling and so it's a seven syllable word and it's a failing and if she gets a feeling about something and i go against that it costs me a minimum of 10 grand every time i do it because her failing is never off it's just it's spooky now she has a degree in child development home ec but she has insight into multi-million dollar business deals based on this failing yeah and so proverbs 31 and and so um you know and and those of us have been married i've been married 43 years so those have been married a while we know that it and is she perfect no she's not perfect and sometimes she's just straight up wrong but um but No, she's not perfect. And sometimes she's just straight up wrong. But she's virtuous

about it. I mean, she very seldom is a butt about it. And so I learned from that to never again make major financial decisions without having not just her permission, but her alignment and agreement that there was no bad failing about it. And so consequently now, you know, we're, I mean, our net worth has returned hundreds of times over since then all those years later. I mean, these buildings we're sitting in are worth $500 or $600 million, and they're paid for. So, I mean, you can blame that on her, right? So the point is is there's a high correlation between people who work together in their marriages

and have a respect for each other's talents, insights, and abilities, and make major decisions together, not in spite of each other. Larry Burkett used to say, you know, most people that get married are different. One's a spender, one's a saver. One's a nerd, one's a free spirit, right? And so opposites attract and if one of you you know and you know uh otherwise one of you is not necessary if you marry somebody just like you one of you is not necessary so um you know you need to be it's good that you have different

insurance wired completely different stacy's wired completely different from y'all and i've watched y'all use the same principle it's a financial principle it's a marriage principle it's a spiritual principle no lack of gain to be on the same page on major problem major deals with your money yeah well and this is also beyond just the spouse part the spouse represents someone who is giving you counsel the bible is clear many times on the wisdom of counsel. In other words, getting multiple pieces of feedback. But I want to just back up Sharon's feeling for a second, okay? So scientists not too long ago studied, Dave, grandmaster chess players. They put heart monitors on the world's greatest chess players, and here's what they found.

Yep, I'm seeing this. Every time that one of those grandmaster chess players made an incorrect move that ended up costing them deeply in the match the heart rate spiked and all that means this here was the direct takeaway that the feeling the gut feeling he's talking about that sharon has it's not some spooky east tennessee talent what it is is that it's actually the brain sending the signal of the body this is a bad decision and so i say all that to say if you've got a bad gut feeling what they determined from that study was had those chess players listened to their body uh they would have said something logical up here is saying don't do this and they overrided it and they

overthought their way through it trust the feeling is the point yeah yeah and you know that slows you down you don't impulse that's it and and you know there's you should have peace that's right before you there ought to be a sense of peace in the air before you make a major move that's right not a sense of angst that's right and if there's if there's angst it could be because it's a bad move or it could be because you haven't studied it hard enough. That's correct. And you don't understand. So, for instance, if you're doing an investment you've never done before, it doesn't mean the investment is bad if your heart rate's spiking. It means you don't know enough about it to do it yet.

You need to get comfortable with your knowledge base to be able to buy that. Same thing with buying the next house, right? And here, I want you to comment on this, Dave. How many times have we all done something and go, I knew better? That's exactly right. You look back in the rearview mirror you know your hindsight hindsight's 2020 baby but here's what i want you to weigh in on dave let's say that your spouse um doesn't feel good about it but you've actually done your homework and you know that it's actually not a silly decision but they still don't feel that way it's still important to hear them and then do a better job of casting vision

or walking them through their fear. So there's a flip side to this, too, that it's relational, too. Well, I mean, sometimes it's I've got to unpack and go, okay, here's the way this works. And she goes, it doesn't feel right. Well, okay, that doesn't necessarily mean that it's that thing, right? It could mean she doesn't understand it.'s right you're right i can our same thing back back at me i mean she says i think we ought to do this because and i go okay well i need to

hear the because because right now i don't want to do it right right and so i need to hear a really good because you're going to bring it and and so but there's a what happens is you end up with a long marriage that is good. The data backs that up too. High quality marriage. Your health is improved and your wealth is improved. That's what getting aligned. And so when we say stuff like, okay, you ought to be in one checking account.

Couples ought to combine their finances and not act like roommates. And then all you people go bananas because you were raised in a feminist world where everybody has to be independent. Listen, if you want to be independent, don't get married. It's a great point. Because it'll screw up that whole independence thing. I'm just saying. I don't even know what that is anymore. It's like, I mean, you need to learn to work. If you can't play well with others, it's like, wow, I need to be independent.

Good. just head your butt over there and do it somewhere else if you want to be independent the data says you will be not as healthy and not as wealthy that's going to freak some tiktokers out but go research it on the google that's not my opinion it's good to mess with tiktok you got to keep tiktok on its toes so yeah that but there's data and tons of research and spiritual counsel and wisdom from thousands of years behind this concept. And so we can all joke around and go, well, you shouldn't listen to your wife. But that's almost like, you know, he should be henpecked and do whatever the woman says because he's scared of his wife. That's not what we're saying.

No. We're saying a healthy relationship respects the other person's input. We work our way through the differences. And until until we do we don't make the move and you wouldn't have bought a tesla at 13 interest rolling negative equity into it and ending up with a 900 car payment making 80 000 because there's no amount of logical analysis that's going to make that smart this is the Ramsey Show. I'll see you next time.