The Ramsey Show - App - Changing Your Life Requires Real Behavior Change (Hour 3)

Episode Date: September 6, 2022

Take our Audience Survey & Enter to Win a $500 Visa Gift Card: Click here to take the survey   Dave Ramsey & Ken Coleman discuss: How to encourage your spouse to pursue their dreams, Max Lucado's new book - Help Is Here: Finding Fresh Strength and Purpose in the Power of the Holy Spirit, Breaking free from student loans, The behavior change it takes to become debt free, Purchasing rental property the smart way.   Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6   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 Studio, it's the Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. We help people build wealth wealth do work that they love and create actual amazing relationships thank you for being with us america ken coleman ramsay personality number one best- 5-2-2-5.

Up first this hour is going to be Teresa in San Diego. Hi, Teresa. Welcome to The Ramsey Show. Yay. Hi, Dave. Hi, Ken. Hey, what's up? Hi. Thank you for all you've done for our family. You've been such a blessing, Dave. Sure. How can we help?

Yay. Okay, so I have a husband who loves business, loves people, and people love him back. He has a gift. He's gifted in strategy. He's able to see big picture, recognize steps needed for people to be successful. Currently has a great job, 15 years of experience in the restaurant industry, but he's always expressed a desire to be self-employed ultimately. I need to know what I should do as his partner to encourage him to go out on his own. He really, if unleashed, could just be such a blessing to so many people. So I don't know what that should look like or how or you know how where do we start um does he have an actual idea or two or three uh ken it's it's unbelievable like just living our daily lives just going out and um going on

vacation he's came back from california um visiting family within that week's time he had three different people um ask for him to look at their numbers and actually be a board member on some of these businesses. So it's like, does that answer your question? No, no, you're great. What kind of business? Yeah, like does he have an actual idea or two that he's talked with you about that he hasn't pulled the trigger on? A specific business idea. I would say consulting. I mean, he loves business.

He loves helping people succeed. So currently he's in the restaurant industry and is loving it. He has a passion for industry, but he has a passion for people. Sure. What did he say to the board offers? Did he say yes or I'll get back to you or I want to talk it over with the wife? Well, he would always talk things over with the wife well it's correct he would always talk things over with me he's very wise but uh yeah but um it's that's why

i'm kind of calling because he he enjoys the job he has but it would be you know do i okay so if if i were talking yes he should He should absolutely explore those board opportunities, specifically if they're paid. But even if they're not, if it gets him an opportunity to come in, even as a board member, and begin to practice advising outside of what he already knows, it's a wonderful way to get his feet wet and kind of ease into what could my future look like. I would absolutely explore this. I'd go home and go, hey, when he comes home, I said, I think you should explore these things and look into these things as an opportunity. The second thing is, is I would ask him point blank, just in your normal

conversation, what would need to be true for him to start his own consulting business? Begin just having conversations the two of you, not high pressure. I really want you to do this but just begin to hear his heart and he's going to begin to share with you what could hold him back or what is holding him back and as he's oh good tell me what is what's holding him back it's financial stability so as I said currently has a great job and he doesn't know what that would look like because his first and foremost concern is to be a great provider for his family. Sure. So what if, so here's what you say to him, what if you were to do this on the side? You can consult on the side. He knows about how many hours or days based on his other responsibilities. He already is kind of doing that.

Great. Well, he needs to do more of it. What do you mean kind of? Okay. What's kind of? Having conversations. He has signed some NDAs so that we have- That of? Okay. What's kind of? Having conversations. He has signed some NDAs. That's not consulting. That's having coffee. Is he getting paid? No, and that's why I'm asking.

Okay, then that's not consulting. So he has to get paid. And so here's how you help him with this provider gap. I'm going to tell you. First of all, he talks to these people that want him as a board member, and he finds out, is it a paid board opportunity? I've got several friends who are paid board members. They show up a couple of meetings a year. They're on call and they make a nice, decent chunk of side money.

The other thing is, is he may not be a good board member, but maybe he's a consultant for them. So if he's on vacation and he's running into these opportunities, opportunity is not his issue. What he needs to understand is I can walk before I run. And so we want to just start his consulting business today. And he starts getting paid. And then he stacks that money up.

You understand where I'm going with this? He keeps stacking the consulting money up until he's got two things in play. Six months would be my advice. Six months of his current income in the bank of the consulting business would be the start and the second thing is a pipeline of business and then he's ready to walk yeah dave you were going to say something ken and i have more than two friends that are mutual friends of ours um that make north of a half million dollars a year on retainer with businesses, handful, 50 business, less than 50 businesses, less than 20 businesses probably on the list.

And they're on an annual retainer plus hourly to help them with strategy, to help them with people problems, to business coach them. Okay. They're great business coach them. Okay. They're great business minds, good guys, they hustle, and they're both making north of a half million dollars a year. So on a part-time basis, your husband could get enough of that kind of thing going on if he finally decided he was actually going to get paid for it instead of doing it as a favor for everybody.

Yes, that's where my frustration is. That's where my frustration was. That's why I said he's not going to get paid for it instead of doing it as a favor for everybody that's how yes that's where my frustration that's what i was what my frustration was that's why i said he's not got a business coffee buying coffee for people is not it that's not the thing so um and so if it's a paid board gig that's advising and you can use that in your resume to also land some of these retainers but it's not unusual in that business consulting space business coaching space for you to get an annual retainer and um then you know and he doesn't want to work with somebody that wants to give him five grand one time to fix one single problem because business is never one problem right that's a joke can i ask can i ask you something else dave um some of these businesses that have come up to him are, like I said,

one of them offered the board membership, you know, but the other ones are small businesses. And I know that you talked about when you were starting out, you would offer equity as an incentive to help. Is that, I think he feels uncomfortable. I don't want equity. I want money. Okay.

Okay. Some of these, equity. I want money. Okay. Okay. If I'm him. Some of these business. Okay. Equity can come later. Let's get him to a half million a year in cash. Okay. And then he's not got any barriers, right?

He quits the restaurant. That's how I feel. Yeah, the restaurant job goes away instantly as soon as that becomes a reality. And by the way, Teresa, if they can't pay cash for his time, they're not the right client. Yeah. And they're not. Even in the early stages? Yes. Okay. Listen, we're not, we're not, you can, other people can dream. Right now we want to do business. Right. I love it. Okay. And so, yeah. Hey, Ken, I don't know if you know this or not, but I have a rare position. I get paid to not be on people's boards. That is correct correct that's where y'all want to be by the way that's where we're all trying to get to i serve on precisely zero boards non-profit or otherwise

and there is a reason because you don't do well on boards if you're always right that's correct. Ken Coleman, Ramsey personality, number one best-selling author of the book Paycheck to Purpose, is my co-host today. Open phones at 888-825-5225. He's been called the best preacher in America. He's been called America's pastor. He has sold more than 145 million products in print. Translation, most of those are books. So this guy has sold over 100 million books. That's what everybody calls him. I call him friend. Pastor Max Licato is with us from San Antonio, Texas, with yet another offering. Pastor, how are you, sir?

I'm great. And I call you friend as well, my friend Dave. And it's just a treat to talk to you. Well, you too, sir. You too. Things are going well, I hope, over there. Get ready to see you guys in a few months. Yes, sir. Yes, sir.

We're geared up. We're looking forward. I think it's early November you'll be speaking at our church. Yes, sir. We're already excited. Yeah, we're excited to be there. It's an honor to have that opportunity. So the new book is Help is Here, Finding Fresh Strength and Purpose in the Power of the Holy Spirit. Now, you've written on a lot of different things.

Why Help is Here at this time? Well, I believe that our society is just worn out. A lot of it we brought on ourselves. Some of it has been sent our way, but look around us. Everybody is so weary, and I do not believe we're made to live that way, and I believe we need much more than just government programs or more education or more neighborly suggestions. And I believe what we need is supernatural help, and that power comes from the Holy Spirit. And so I'm on a crusade to urge people to tap into the only power in the universe, and that's the power of the Holy Spirit. You know, the weariness, we're seeing that in a bunch of the metrics that we follow here in the money space, the mental wellness space, the career space.

Weary is a good word. Fatigued is a good word. And part of it is being angry is exhausting. It is. And people are spending an inordinate amount of their lives angry these days. Are you seeing that? No doubt. And we are expecting things out of one another that one another simply cannot provide.

And, you know, the promise of Jesus before he ascended into heaven was to his disciples, that you shall receive power when the Holy Spirit has come upon you. And I believe that power is power to make good choices, power to get out of bed, power to go to work, power to pay your bills, you know, just power, strength. And I think we're turning to the wrong places and finding the wrong results. And so I'm excited to get the conversation about the Holy Spirit into our national conversation. Well, I want to follow up on that, Max, because one of the chapters in this book is how to

hear from God. And I think that is probably one of the most powerful questions a person can ask. I know we've got a lot of people listening and watching today that may not even believe you can hear from God. What would you say to someone who's wrestling with that all-important question? Well, the Bible says that God has a will for us that is good and pleasing and perfect. That's in a scripture called Romans 12 and verse 2. He has a will for us, a plan for us that is good and pleasing and perfect, and he doesn't keep that will a secret. He reveals it to us all along. He has been not just the God who feeds us, but the God who leads us.

He guides us. And it is the assignment of the Holy Spirit on the earth right now to direct us. And I believe that when a person says yes to Jesus, then God says yes to them and places within them the essence of himself, the invisible yet undeniable presence of the Holy Spirit. And he speaks to us through two ways, Ken, through the verse and the voice. The verse is scripture, the Bible, which is inspired by God, and then the voice. And the voice is that leading, that prompting, that nudging, that sense of right and wrong that we have and even increasingly have more the longer we live with the Spirit and follow him.

So the verse and the voice, the Holy Spirit uses both of those to lead us. A pastor friend of mine says, don't don't say you went with your my gut he goes don't call the holy spirit a gut i like that i like that so you talk about like the idea of following our conscience you know i want to follow god's conscience uh and that's what he places within us yeah absolutely the calming presence of god is how you talk about the holy spirit um i've often heard someone say when they're looking for that leading that ken was talking about in that chapter of yours that that uh the peace of god over a decision is an indication you're on the right feet in the right area if you've got a bunch of angst about it, it's probably not

God. Right, right. And because one of the attributes of the Holy Spirit is peace, the very first mention of the Holy Spirit in the Bible is in Genesis chapter 1 and verse 2, where the Spirit of God hovered over the deep, you know, before creation became the beautiful creation we enjoy. It was angry and tumultuous, but the Holy Spirit came and hovered over it, maybe like an eagle would hover over a flock of newborns in a nest to calm them down. And when Jesus was baptized, the Holy Spirit came in the form of a dove. I can't imagine a bird more calming, more presence, more reassuring than a dove. And so the Holy Spirit brings peace. He calms us down.

So if you're anxious today, all you need to do is offer a simple prayer and say, I receive the Holy Spirit. Please speak words of calm over the chaos of my life. And I think you'll be surprised at the supernatural sense of peace that comes over your life. Max O'Kate is joining us here on the Ramsey Show. The new book is Help Is Here. Max, when you write about anything, I know that inevitably God works through what you're writing in your own life. Curious, what experience did you have during writing this book? Well, you know, throughout my ministry, I'm 67 now, so I'm getting kind of old, aren't I? Early on in my ministry, I almost quit

because I found being a pastor so stressful. And the Holy Spirit came to me one night in prayer time and comforted me, and I sensed a message from Him just to be quiet and to be still and to trust. And that has continued all these many years. And as I was writing this book, I really sensed, you know, the Holy Spirit gives gifts. There are abilities to teach or heal or to bless or encourage. And the scripture says to earnestly seek the gifts of the Spirit. So I began praying. I said, Lord, are there any gifts that you've not given me that I need to have to finish my life in good fashion? And lo and behold, a couple of abilities came my way that I had not enjoyed so far. So I think God is ultimately a gift giver, and the Holy Spirit comes with gifts.

And nobody is excluded. Any person, any person who says yes to Christ can receive abundant gifts of the Holy Spirit. That's good news. You always come bearing good news, and that's one of the reasons we love hanging out with you. So I appreciate it. Thank you. You and I are overdue to hang out a little bit. You know, I brag on you everywhere I go. I tell stories of all the people in our church who have been, well, they've come in contact with Financial Peace University or Ramsey Solutions and story after story after story. That's why we're excited that you'll be coming to speak to our people. And we're honored to. Pastor Max Licato, America's pastor. The new book is Help is Here, Finding Fresh Strength and Purpose in the Power of the Holy Spirit.

If you're weary, Pastor has found your recipe. You ought to try it. It's good stuff. Thanks for being with us, Max. Thank you, sir. All the best. We'll see you next time. Ken Coleman, Ramsey personality, number one bestselling author, is my co-host today. Open phones at 888-825-5225.ris and amber are with us in hartford connecticut it says on my screen you guys are debt free congratulations oh thank you thank you well done how much did you

pay off uh just over 97 000 very good and how long did that take? About 29 months. Good for you. And your range of income during that time? Started at $88,000 and went to $120,000. Cool. What kind of debt was the $97,000? Most of it student loans. About $80,000 of it was student loans. And then we were pretty normal. A car loan, some taxes, some medical debt, and a little bit on credit cards. Cool. Okay. So what happened 29 months ago put you on this Ramsey way of doing things? Yeah. So when we first got married, we had taken a financial piece and really

worked the steps a little bit, but we're Davis, as everyone says. And a couple of years years ago we really calculated everything with a student loan all together totaled it up and it's pretty gut-wrenching and that was just an eye-opening thing to really just get on the same page and whatever we had to do we were going to get rid of this and change our story. Okay so help me with this because i'm always curious about the the tipping point on this whole process from a behavior standpoint you go through the class and that doesn't do it and you come along how long later a couple of years later yeah so i think i think what was the thing that pushed it back to the front in your mind a couple years later?

Yeah, I think we really originally didn't have too much that we were worried about because, in my mind at least, student loan was something I was always going to be paying off. And we were younger and just we knew the principles, but for whatever reason didn't act on that, maybe shied away from it. And when we finally, I guess I can say when I finally manned up and really just took it for what it was and really looked at what my family was in, I was done. And I was going to do everything I could to get rid of it. So there was no single thing. It just kind of creeped back to the forefront in your mind. Well, I think our daughter being

born about a year okay there we go yeah that's logical that makes more sense okay then just generally wandered up into your face yeah okay yeah baby coming just got real yeah this is like now this is real adult stuff we got a we got a real year your why changed right okay okay that makes sense thank you i was trying to get my head around it wasn't it wasn't that the other was troubling i just didn't understand it so it's like it went from helpful information to oh this is very useful now that i have another human being to provide yeah i have to be like a grown-up now because now we have a real child here yeah that that does it doesn't it yes it does yeah having a baby's a big time thing that's wonderful how old's your baby then now two and a half years i guess no so she was she was um

she was born about a year before that so okay so you're looking at this little one-year-old toddling around yeah yeah and you're going oh baby yeah okay all right that makes sense very cool okay so then you drag them fpu materials back out and go through them again, huh? Exactly, yeah. And, in fact, it was helpful for me, you know, listening to the podcast and doing different things, but I was able to teach FPU a couple times during it, which was a learning curve for me because the more I got into it to help others,

the more I learned and we could apply for our family. So it was the more I ate, the more I wanted to we could apply for our family so it was it was the more the more I ate the more I wanted to do it yeah I hear you well the more you're teaching a class you have to do it because otherwise you're a hypocrite right yeah it's like it's double it's a double edged sword then yeah yeah so Amber I'm just curious once you both got fully on board here was there a real uh tough moment or maybe a season of learning how to do this, or was it pretty lickety split for you guys? No, I think there was definitely a learning curve for us following a budget. My profession is social work. I've done case management for 13 years,

and so I was out on the road a lot. So I think for me, learning not to make my coffee at home and not go out and get coffee, what, you know, those sorts of things were kind of the learning curve. What can we do to save money? Because you don't realize how much you're spending until you actually look at the numbers there. Yeah. Changes everything. Wow. Very cool. Good for you guys. Okay. Now you've done it. 97,000 paid off in 29 months. You're professionals. You've taught the class twice. Someone says, how do you get out of debt? What do you tell them the keys are? Well, I would say there's a lot, but I think communication with your spouse or an accountability partner was huge. We had to get on the same page.

We're very different around, you know, different things. And so using the EveryDollar app was something that was able to get us on the same page. I think, you know, and we've said it many times, you keep going no matter what. No matter what has to keep going on. There's no stopping, you know. And we learned that the wrong way, you know, in the first time. And then the budget is vital, even when it looks overwhelming like it did for us. That's your key. You got to keep to it and tell that money where to go. So 97,029 months, did it go faster or slower than it felt like it was going to when you started?

Huh. I think faster. I think as we got momentum, it seemed to creep a little bit at the beginning, but yeah, as you got more momentum and with the student loan stopping interest and things like that, we just applied everything we could to that, and that was our opportunity to really get ahead. Will you ever go back in debt? Of course not. Good Lord, he said, I can't imagine working this hard. You've lost your mind? I love it. Very fun. Very fun. Well, I'm proud for you guys. You're heroes. Well done. We're proud of you. Very well done. And thank you for leading a financial peace class. We appreciate that from you. You guys are incredible.

Very cool. How old are you two? So I am 39 and she's 38. Okay. So not even 40 and you got rid of Navient. Man, that's a good person to get out of your basement for sure. Well, we've got a copy of Baby Steps Millionaires for you. How Ordinary People Build Extraordinary Wealth, How You Can Too,

my latest number one bestseller, and a Financial Peace University membership for a year. You'll be able to give that to someone as your leading classes and gift it to somebody who needs to be in the class, and you can help them get started. Add a Total Money Makeover book for the same thing, to give somebody a leg up and get them started. Lots of gifts for you to re-gift.

And thank you guys so much. We're so proud of you, heroes. Way to go. Thank you. Appreciate it. Chris and Amber, Hartford, Connecticut. $97,000 paid off in 29 months, making $88,000 to $120,000. Count it down.

Let's hear a debt-free scream. Three, two, one. hear a debt-free scream. Three, two, one. We're debt-free. Yeah. That's how it's done, ladies and gentlemen. Woo-hoo. Yeah. Love it, love it, love it.

Very, very well done. Fabulous. Hey, guys, we are doing the Building Wealth live events in your city. Love it. Very, very well done. Fabulous. Hey, guys, we are doing the Building Wealth live events in your city, and they're almost all completely sold out. We will be in Phoenix this coming Monday, the 12th, and it is sold out. We will be in Phoenix on Tuesday, and it is sold out. We will be in Sacramento November the 1stuesday and it is sold out we will be in sacramento november the first and it is sold out these are three to five thousand person venues uh we will be in minneapolis

november the 10th it is the only one that has a few tickets left there's less than 100 tickets available for that so if you want to come out minneapolis you're almost sold out there san antonio november the 15th sold out so we will be there ken coleman dr john deloney me rachel cruz george camel it's going to be a lot of fun ken it really is you know we we had a wonderful spring season and you know it's it's fun to see in all of the so-called political and societal and economic tumult, we see a great group of people there for one reason. They really are serious about building wealth, creating a new family tree. And it's electric. It's a lot of fun.

Dr. John and I do a special session pre-event that you may be able to still get tickets for that, Dave. I don't know, but that's a lot of fun. A fun conversation about anxiety and work and at home and how to win in both areas check it out pass a start at 25 you can get a four-pack minneapolis for as low as 60 go to ramsey solutions.com slash events Teksting av Nicolai Winther our scripture of the day first corinthians 15 58 be steadfast immovable always abounding in the work of the lord thomas jefferson said on matters of style swim with the current on matters of principle stand like a rock i always get tickled when i see that i probably saw that quote 20 years ago the first time and you think of thomas jefferson's styling right well you know he was he was he was quite the goat man yeah you know one of my all-time favorites i love that quote it's so powerful but yeah he was a uh you know he spent a lot of time

in france and paris as an ambassador and really was uh quite the stylist guy brought a lot back to his home in monticello so i get it even though it is weird to think of style back then but you know it's fun on matters of style swim then. But, you know. It's fun. On matters of style, swim with the current. Yeah, just roll with it. On matters of principle, stand like a rock. There you go. Got to love it. Got to love it.

Founding fathers. Open phones at 888-825-5225. Jason's in Kansas City. Hi, Jason. How are you? Hey, I'm great. How are you guys? Better than we deserve. What's up?

I figured. Hey, thanks for taking my call. I have a quick question on a rental and putting down payment on a rental. So my wife and I are debt-free. We currently contribute, we max our 401k and we currently contribute to the child's college fund. And we are excited to buy a second home to use as a short-term rental. And your current home is paid for as well? It is not. That is the only debt we've got is our mortgage, other than that, we are debt-free. Okay. So we are wanting to know, we want to put 20% down, it'd be about a million dollars.

We're currently saved up at about $150,000, so we're 50 short, and I'm trying to fast-track that. So I wanted to know, does it make sense to temporarily stop contributing to the child's college and 401K? We could save about $50,000 in about a year. You got the fever bad. Short-term. You got the fever bad for this house. It's a good time to buy in a year, Dave.

You got the fever bad. Was it Beach a good time to buy in here Dave you got the fever bad was a beach house or what mountain house mountain house good old cabin yeah I don't know if you're gonna do what we teach or not um because you got the fever uh but I'll tell you what I have done and what we have recommended since I've been on the air. That when you do a second house, even if it's for income, rental property or partial vacation home, you know, resort rentals, what you're dealing with here, that you pay cash for it after your home is paid for. I have a lake house, and the first purchase I ever made like that was a lake house. And it's not the one I'm currently in, but it was a big deal to us. Our home was paid for. We saved up the money. We paid cash for the little old.

It wasn't a very fancy place, but it got us on the water. And we got a place to go on the weekends. The kids grew up skiing down there. And then later on, we tore that house down or got rid of that house, donated it and moved it and built another bigger property on that same lot and that's where we were last weekend um but you know luxury properties if you even if you partially justify them with um rental income with resort rental income which is heavy in management fees because it's generally nightly rentals, and it's generally seasonal too. But even if you partially justify it with that, it's still at the end of the day a toy, and you pay cash for toys.

Now, again, I don't know if I'm going to talk you out of this. You sound to me like the words you're using, your sentence structure, you're pretty far down the road on this. But I would pay off your home first, and then I would save up and buy my rental properties or save up and buy my second homes with cash. And by the way, that's what I have done. I didn't do otherwise, and I didn't do a different thing and then teach you guys different, because I'm going to get you out of debt and keep you out of debt. Um, and so of all the millionaires that we interviewed 10,000 of them, Jason, uh, we didn't have one that said, you know, I made all my money leveraging into my vacation mountain house after I'd gotten out of debt and almost got my house paid off. I leveraged into a vacation mountain house and that, that made

all the difference in my finances on the contrary we asked them what mistakes they have made and almost always it was associated with going into debt to buy a car or to buy something after they had almost made it and you've almost made it so i really would ask you to rethink this uh but i'll say one more time from the way you're talking about this i don't know if we did any good or not it's hard it's hard to back out once you're that far in yeah i was gonna ask you a follow-up on that what's he really i mean how would someone you've explained all of the financial piece what would you coach him with emotionally if he's gonna actually do what you told him how do you get to that place when you're already you can see it taste it smell it

cold shower i was waiting for there it is folks that's good it's the only thing to break the fever take two of these and call me in the morning it's house fever right it's just because i do the same thing i get when i am purchasing even to this day um when the vast majority of my purchases today are not they don't move the needle right but uh in terms of the emotions of it um but even that like i get ready to buy a car i get into it sure and i'm studying it and you know the the you know the activator thing you start seeing them everywhere right oh yeah and uh i get into it and you just we all do that yeah we all get and the bigger the purchase the more complicated the purchase, the bigger the purchase relative to your situation, the more you obsess about it.

And this, in this situation, is a true lifestyle purchase. Like he can see a million dollar second home. Oh, yeah. Almost totally on debt. Right. I mean, 20% down is a joke on that. I mean, it's just not even right it's hard to get the financing at that but the uh uh still it's just uh that's a lot yeah but i mean he's he's he's

spent a lot of nights in that cabin in his mind already that's what i'm saying i would have if it was me yes sir i get i get all jacked up about it he's already found a breakfast place at the bottom of the hill everything listen i bought a new surf boat a new mastercraft surf boat and i i got so much dialed into that man i was so every detail on the website every color choice every little new i mean you would have thought i was doing a eight million dollar transaction right right i'm just so dadgum down and stuck my head so far in it. And if you'd have told me in the middle of that, if my wife would have said, you know, I changed my mind. I don't think we should do that.

I went, whoa, wait, wait, wait, wait, wait, wait, wait. Because you get into it, and that's just a normal human process. So I don't know if I know how to tell you how to back out of it other than joke about it and just go, it's human nature. Sometimes you need to put full stop on a bad idea when you're in back out of it other than joke about it and just go it's human nature and uh sometimes you need to put full stop on a bad idea yeah um when you're in the middle of it and i will tell you this um you know we have pastor max on and he's talking about peace the peace of the holy spirit and um there's a scripture that goes with that from a financial standpoint that says the blessings of the lord have no sorrow added to them and so if i can look at the situation and can perceive sorrow in the future of it

then that usually is telling me that's not a god thing i'm doing it's a dave thing i'm doing and i got the i done went and got the fever. You know, that was it. I mean, I got the fever. You live to tell about it. I got suckered in by my own intellect. And I can do mental gymnastics and talk myself into something. And all you out there can too.

We all can. We all do it. And so it's an interesting call to not poke fun at jason just to instead say we're all just like you yes for sure and yet begging you not to do this deal because it's not good for your family so it's really what could go wrong oh so much and then you start to deal with that and that kind of becomes that cold shower hopefully to go all right wait a second the most high risk real estate is being a developer, developing a property in the slots or whatever you're doing with it. The second most high-risk real estate, resort real estate.

Right. Because if you think about it, resort real estate is luxury. And so what happens is beach and mountain, lake, they all go straight up when times are hot and straight to the bottom when times are cold. Because it's the first thing that people dump when they're struggling. That's right. And they buy it when they're flush.

And so when the economy is going to zoom, zoom, you know, my lake house will double some years. And it'll go in half later on, you you know in value as we watch it back and forth and that happens with beach property it happens with you know you watch the uh 30a coast down there oh i've been going zoom zoom for a while but i do remember when there were towers sitting empty with wind blowing through them down there they have to stink in places on foreclosure and it doesn't feel like that long ago to me uh so you know, it's just, it's very volatile category of real estate. Ken Coleman, good job. James and Kelly, Andrew, Zach, Ben, and Austin in the booth. I am Dave Ramsey, your host. 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. Dave here. We just launched a brand new audience survey for The Ramsey Show, and we'd love your feedback. You could be entered to win a $500 Visa gift card. No purchase necessary. Take the survey at ramseysolutions.com slash survey.