The Ramsey Show - App - Comparison Is The Thief Of Joy (Hour 2)

Episode Date: May 14, 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 number one best-selling author of the book paycheck to purpose and host of the ken coleman show my co-host ramsey personality ken coleman today the phone number is 888-825-5225 is Isaac's in Greensboro, North Carolina. Hi, Isaac. How are you? Hey, Dave.

I'm great. How are you doing today? Better than I deserve. What's up? So just a quick summary of my situation. I'm 21. I live in Greensboro, of course. I live with my dad currently,

and I'm hoping to move in with my lovely girlfriend at the end of this year. I have no debt. My credit is really poor, though. It's about $600, and I have $3,000 in cash saved up. My question is I just don't really know what would be the best course of action here. I make about $18 an hour. I made my budget just the other day with my friend who was the one who introduced me to your show. He's my best friend. And I'm on course to save about $1,300 a month, every month. Good for you. So I don't know whether it would be best to put a down payment down

and try to squeeze myself into a home around the end of this year. You're not going to be ready. Or if I just focus on renting. Yeah, you're not going to be ready. And saving up for a down payment that way. Are you getting married at the end of the year? No, sir, I'm not. Okay.

Then you don't need to be moving in or buying a house with somebody you're not married to for sure that's going to get you into a mess so um what i would tell you to do is simply get you an inexpensive place when you're ready to move out and just work like a crazy man pick up as many hours as you can pick up and let's pile up as big a pile of cash as we can do Do you have any debt at all, sir? Technically, I have about $10,000 to $15,000 in medical debt, but I'm very thankful. I think my grandparents are going to cover that for me.

I could be wrong. I don't really want to bank on that, but I think that's what they're hoping to do for me. Obviously, they don't have the money. Other than that, I think that's what they're hoping to do for me obviously they don't have them that I have I have zero debt obviously you wait well no you don't have zero debt you have $15,000 in medical bills that's right okay and why if they're going to cover it do they not have the money to cover it um they do they just have not done it yet i need to approach the subject with them honestly it's yeah you need to get clarity on what you need to get clarity on what's going on

so if they have the money and they're going to cover it they need to cover it it's okay if it's okay if they want to do that and it's okay if they don't want to do that too by the way it's their money and their choice but if they're going to do it they need to do it because otherwise you need to get to work on it yes sir okay so i would get that cleared up either by grandparents or by extra work and get you an inexpensive place to rent and then i would pile up as big a pile of money as i can so that when i get married to this lovely lady then we can talk about buying a house yes sir and that's how i would do it if i was in your shoes can 18 what are you doing making 18 an hour isaac what do you what do you do for a living um i work as an emt actually how many hours how many hours a week so i don't

i work 40 hours a week and you're're trained EMT? That's right. How old are you again? 21. I'm 21, sir. Why are you only making $18 as an EMT? That seems very low. Well, most of the other gigs actually make less than that. If I were starting at an ambulance company, I'd make $14, $15 an hour, which really isn't great at all.

So what's the path look like? What's the next level? What are you going to do with your life? So I, if I'm being completely honest, I do have a dream for myself. I want to, I'm an artist by trade. I'd love to do something with my art. What kind of art? You know, I'm a cartoonist.

Okay. Well, that's a long road, so I like that you've got the EMT. My question is, what is the next level up of pay being an EMT? Clearly, you're young and you're on the lower rung of the ladder. What's that look like moving up? Well, I would make a 4% raise every year staying here. But outside of this, you know, unless I was working as a paramedic, there's not really any clear path towards making a hell of a lot more money, quite honestly. Okay. But the issue is...

I originally was a firefighter, but I have since switched out of that career. I had cancer, hence my medical bills. And I just decided that was not the career for me at that point. Sure, sure. Well, so let's talk short term. I've been looking at a couple other options as well. What? What are those options? Mainly home inspection, actually, but I've had a couple family members not necessarily steer me away from that, but they've given me some reasons to think twice. What are their, hold on a second, hold on, hold on, hold on, hold on. What are the, well, first of all, let's start with what you can

make. You can do pretty well in home inspection. I'm assuming you've researched that? Yes, I have. Okay, what's the number? Give me the number in your area for a talented and somebody who's getting work. What's that look like? Working for somebody else? No, no, no, no, no. No, I'm saying as a home inspector, what does that pay look like in your area, Greensboro, North Carolina? About $80,000 a year if I were taking the lower average.

If I were taking like five inspections a week. And why is it that your family members think you shouldn't do that instead of 18 an hour um well the one family member um he's my uncle he's a mortgage lender and he you know gave me a couple reasons and of course i told him like you know i'll think twice about this but but I just. What did he say? He said, so most people aren't looking to move out of their homes these days because nobody really wants to go from. You're talking to a mortgage broker who's having the worst year he's possibly had in the last 20 years. Of course he's going to tell you to stay away from anything having to do with the real estate business.

He's starving to death. Your uncle's lost weight. He isn't eating well. Oh my gosh. Here's why I like it. Here's why I like that move. Isaac, I don't know how good of a cartoonist you are, but here's what I do know. Even if you're really good at it, this is a long haul and you're going to have to show your work. You're going to do stuff on the side. You're going to have to just really be consistent. That's right. I would take a job like this. It's low stress. Obviously, you got to be careful getting up on some roofs, getting in some crawl spaces, but you can set your own schedule. This would be a type of gig that would support an artistic endeavor, which you're going to need

to just put time into. It's like writing music. So I actually like this move in the short term for you because it just gives you a real huge jump financially and gives you some real stability. Let me tell you what I know. And Dave, actually, I'm going to see, I think a home inspector is in a premium demand right now. I know that when we sold recent houses, we were trying to get a good one. It took a while to schedule it. Yeah, but his uncle is correct. Obviously, real estate volume is down. Well, sure. houses we were trying to get a good one we it took a while to schedule yeah but they're in his uncles is correct obviously real estate volume is down well sure the number of houses being sold so the number of houses being inspected is way down he's he is correct about that but um but you can

do that on the side while being an emt you can do that and you can do your cartooning on the side and dude go make some more money somewhere that's reasonable and honest. Pile it up. Talk about buying a house. Then talk about moving in or talking about getting married and moving in. This is The Ramsey Show. This show is sponsored by BetterHelp. All right, so I was born and raised in Texas, and I love the myth of the lone cowboy.

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the inner nerd out. Oh boy. And I, the inner financial nerd. That's exciting. The little boy that loved to do math has recovered. Okay. And he is doing all these nerd stuff for this investing seminar because it's the nerd stuff I actually do when I'm personally investing. And so we're going to teach a whole high-end view of actually calculating returns properly on real estate and those kinds of things. So I'm going into how I pick a piece of real estate, how I pick a mutual fund, the principles that we use, that Sharon and I use to invest and have used for 30-plus years. Is there going to be a whiteboardboard big screen that you're kind of touching big screen jim kramer sleeves rolled up there's no jim kramer involved i know saying you doing your no yelling this is going to be as a matter of fact very calm truthfully i was talking to

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going to go all into 401ks mutual funds real estate what not to do how not to do investing how not to view investing everything about it and uh two whole nights so it's going to be about four hours of material and we're taking a live question answer george camel's going to be in there helping me be fun and uh george has got out his inner nerd so it's a couple of nerd boys hanging out and if you want to come we'd love to have you yeah i know this it's going to be relevant so if you get questions like in in a inflation driven uh economy should i know this. It's going to be relevant. So if you've got questions like, in an inflation-driven economy, should I buy gold? All that's going to be covered. I know it is.

You're just going to cover it all, aren't you? Yeah, yeah. We're going to go in. It's going to be fun. It's relevant, and it's worked for a long time. It is. Alex is in Seattle. Hi, Alex.

How are you? Hi, guys. Thanks for taking my call. Sure. I'm doing well. I have a question. Speaking of investing um two months ago i seemed to default defaulted to baby step seven and for two months i've been

trying to figure out what to do next but become a victim of paralysis by analysis so i'm hoping to get some help you paid off your house now you've got a pile of money and don't know what to do with it is that what you just said uh sure uh you can get there that way yeah is that is that is that pretty close or not uh my grandpa passed away two months ago and that allowed me to pay off my house with an inheritance oh i'm sorry forward i'm sorry but he i'm sorry he's smiling about what you did with it so how much money do you have now? I have about $50,000 in cash. Okay. Uh, but my main, my main question is, uh, I don't make enough to max out my retirement. If I, if I did do that, I'd have like a hundred dollars a month, uh, extra. And that doesn't really give much margin in life. I have goals, but they're not immediate.

What is your income, sir? $70,000 a year. Okay. Are you putting 15% of your income away in retirement? I'm putting 20, yes. Okay, and you don't have a house payment? No. Okay.

So what you're saying is you don't have any more money to invest other than the 50k is that right i mean that includes my emergency fund and yeah so you don't have any room in your budget to invest is what you're saying correct correct so what is it you're asking me i'm trying to figure out do i max it out or do i you can't max it out you told me that all right right i could live on a shoestring budget with it maxed or i can no a little bit of life i'd have i'd have a little bit of life i mean if you say how old are you i'm 32 okay if you save 20 of 75 000 let's call it 15 000 a year and you do that from 32 to 62 you're going to have 10 million dollars right i don't want to waste a blessing that i got from my grandpa

so i'm overthinking everything most likely well yeah yeah i think you are and it's part of you want to honor him and that's a wonderful wonderfully noble sentiment, I think you are. And it's part of you want to honor him, and that's a wonderfully noble sentiment. And I think you are honoring him. You paid off your house. If you can do any more investing, first you would do it in tax-advantaged accounts, meaning tax-free Roths or traditionals, if you can do more. But you're telling me you can't do more and have a reasonable life, and I'm believing you at this point. let's sit down run your budget out and you know you i want to put as

much in those things as i can put in those things and have a reasonable margin for life and then and then you know dave i would go back to the the give save spend to get him out of this paralysis of analysis save like dave just said give some of it away. Bless your grandfather. Give something in his name. You get to choose. It doesn't have to be an enormous number. We're not trying to impress anybody here. Do something that's meaningful with it, and then do something fun with it. Just don't overthink it. Just be smart. By the way, the way you present, I don't think there's any chance you're going to waste your grandfather's money. I don't think that's possible. So give yourself a break.

Think of those three buckets, as Dave said. Write it out and go with what feels good. Matthew's in Des Moines, Iowa. Hi, Matthew. Welcome to the Ramsey Show. Hi, Dave. Thank you for taking the time to talk with me. Sure.

My wife and I have $115,000 in student loans. Oh, my God. And she's a first-year resident physician. We currently make $120,000 per year and have $70,000 in savings. Based off of our income now, we don't have to pay interest on those student loans. And I'm wondering, is it irresponsible to prioritize further saving, investing, and retirement planning? Yes. Because my wife isn't attending?

Yes. Okay. You need to clear up a stupid debt. As fast as you can. And you need to use a bunch of that $75,000 to do it today. Should we mobilize that immediately? Yes, today. Okay.

Yeah, I'd take almost all that money and throw it at that student loan today. And let's get rid of it. Here's how I know that. How old are you, Matthew? We're both 28. Okay. When you're 48,

you don't want to be sitting around looking at this stupid thing because it's 0% interest and call yourself sophisticated. This doesn't age well this analysis of zero percent that you're doing it feels good in the moment but when you push it out two decades it really looks stupid so clean it up as fast as you can does that make sense yes sir yeah it doesn't age well and if you'll take some of these things you guys are doing with analysis out there on your mathematics and you'll do two things one is put actual dollars to the

the theory that you're screwing around with and then then it's laughable you can't buy a big mac with the spread you're making uh for sure you can't buy a big mac but the uh uh they're expensive but the um and and the second thing is just think okay if i'm keeping this around because it's wise am i going to be proud i did that 20 years from now and you look at and go no i feel dirty well yeah it's because it's dumb so get rid of it get rid of as fast as you possibly can it's not a a pet. It's not an investment vehicle. It's a student freaking loan. Get rid of it.

That's the answer to all your questions out there regarding this stuff. So, Ken, that same thing comes up of, Dave, I'm going to refinance my credit card, which is $8,000, from 18% to zero. What do you think? And I'm thinking, okay, what is 18% of $8,000? Everybody help me with this. A Big Mac. Well, Dave, the special sauce lettuce cheese, you know, it's a premium these days.

Yeah. So, you know, when you actually do the actual math of what you did, it was nothing. That's right. It was bogus. So pay off the $8,000. That's correct. Well, you're giving yourself an excuse to kick the can down the road. Well, you're screwing around trying to fix something.

That's what happens. If you were doing math, you wouldn't be in this mess. That's a good point. It's not a math problem. But you feel you're doing something good. That's the trap. Everybody thinks they're making a smart decision, and that just allows them to keep extending, extending, extending.

Here's the thing. Coming out of that internship internship when she gets in there and she's full-time they're going to be crushing it instead of stressed out over that debt that's the other reason they use that 75 now i've been young and i've been old and i've never seen a government program that made me happy amen to that just think about it If the government If they say I'm from the government And I'm here to help Run This is the Ramsey Show

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Open phones at 888-825-5225. You jump in, we'll talk about your life and your money. Alexander is with us in Raleigh, North Carolina. Hi, Alexander. Welcome to the Ramsey Show. Hello, gentlemen. How are we doing today? Better than. Hi, Alexander. Welcome to the Ramsey Show. Hello, gentlemen. How are we doing today? Better than we deserve, sir. How can we help?

I'd love to hear. Well, I wish I was calling under better circumstances here, but I'll hit you with a fact here real quick. I'm 33 years old. I make about $105,000 a year. I just recently finished paying off $20,000 worth of credit card debt,

and I have about $11,000 left on a car payment. I seem to be finding myself incredibly behind in where I thought I was going to be at this stage of my life. Um, and, uh, I, I find myself keep wanting to find different ways on how I can, you know, increase my net worth, uh, different businesses, different jobs,

et cetera. And, uh, I, I, as I'm saying this, I was listening to the, um,

the ad deal we're running and, uh, Rachel, she, um, she posted an ad about, you know, loving her life,

this new book she put out. So, um, I was kind of laughing to myself about that. So my, my question to y'all is, um, she posted an ad about, you know, loving her life, this new book she put out. So, um, I was kind of laughing to myself about that. So my, my question to y'all is, um, how do I ensure that I'm maximizing my time, my effort and my money to reach the point of what I personally deem to be financial success? Um, one thing I think that keeps robbing me of this is the the comparison that I make towards others that are much further ahead and within you know my social circle whether it be friends or family and it seems to be a vicious cycle of Alexander you're 33 you've already figured out that no matter where you are, there's somebody got a nicer car, a bigger house for the rest of your life. Bill Gates even has that.

As soon as Bill Gates thinks he's got something, he meets the Shah or the Saudi prince. He figures out he's got nothing. Right? I mean, there's always somebody that's got you whooped in any of these things you compare to. And you know that already. A question for you, Alexander. Is this making you take some silly risks?

Are you a little bit more risky, and thus you're kind of reaping what you're sowing there because you're trying to catch up so quick? Or are you afraid you're going to? Or you're afraid? Yeah, that's what I'm trying to understand what's happening. Yeah, I think that's a good statement. I believe this. I think I'm going to. I started two businesses just to tack on to my day job so that I can kind of reach this point of financial success and start, as you guys say, having your money. The fastest way to get rich quick is don't. Yeah.

So have you lost money on those ventures or they just fizzled out and they just didn't yield what you wanted to? What is it? Yeah, they just haven't yielded what I wanted to yet. All right, what's that number? Give us the number. Yes, so my day job, I make $94,600. No, no, no, no.

I'm asking you, you started off the call, I'm not where I thought I'd be. What is the number that would have not made this call happen? 33, I have this much net worth. Give us the number. I'd be. What is the number that would have not made this call happen? 33, I have this much net worth. Give us a number. I'm curious. Yeah, the number I have in mind, it's about $300,000. I think that would support the lifestyle of not just experiences. $300,000 income? Income or net worth? I'm asking the net worth question. Oh, that's a great question.

So you're not even there. Okay, this helps us. No, no, no. This helps Dave and I understand where your head's at. What you're saying, I thought you were thinking net worth. You're going, I want to make $300,000 a year, and that's based on a lifestyle you've got in your mind. And I think you're doing this the wrong way. I would be looking at not I want to make $300,000 at 33.

I'd be looking at what do I want my life to look like in 30 years from now? And I love the idea of hanging around really wealthy people who are 30 years ahead of me and learning what they did and paying attention to what worked for them. And like Dave said, this is a patience play. This is activity, but patience is also an activity. I get up and I bust it. I do what I have to do so that later I can do what I want to do. And so patience at 33 is really hard. And so you've got to understand that's an active thing, not a sit around and wait. I hustle, I plant, I tend to the crop, if you will, using the farmer analogy, and I wait for the harvest.

And so in your situation, I would be asking, where do I want to be 30 years from now? And then start to back into, okay, what steps do I need to take? And I think you'll find that that $300,000 number is the wrong goal. Yeah. Dave, am I saying anything you think exactly exactly so comparison is the thief of joy mm-hmm and the wealthy people that I've met that have high quality lives and a built wealth and I've met a bunch of thousands of them they really just don't measure themselves against other people at all. They only measure themselves against themselves. I started playing golf six years ago.

I still suck. But I'm a lot better than I was six years ago, which is a low bar. But I'm a lot better than I was six years ago. But I have figured out with the people I've gotten the pleasure of playing with around the country, around the world, that I will never reach a point in that game where there is not a bazillion people that are better than me. So I've got to just enjoy my day out in this beautiful green golf course with my friends and occasionally hit a good shot

and i enjoy the shot but i'm not gonna i'm not gonna make a living doing that i'm not gonna be that good at 63 i don't think i don't think it's gonna happen and i'm not nor nor is it the goal so the secret to happiness there is not comparing myself to pga players um that are half my age or a third my age for that matter um uh i you know i don't it's not so i'm not it's not why i'm there and so what is it that what is it that's going to make you happy and fulfilled uh and if you'll find that and go create a great income doing something that you're passionate about on the ken coleman spectrum you're you're going to be fine uh the the good news is you're ambitious and i want you to keep that i do not want your ambition to tip over the edge into desperation.

Yes, that's exactly the word. And if it tips over into desperation, that's when you're getting ready to sign up for get rich quick crap and lose your butt. That's right. And because you're chasing something too fast, you become the hair rather than the tortoise. And every time I read the book, the tortoise wins. So you want to be the tortoise. And the tortoise really wasn time i read the book the tortoise wins so you want to be the tortoise and the tortoise really wasn't stopping and taking a poll he wasn't asking his broke friends or his rich friends what he should do he was just kept moving he just kept moving he just kept moving

and of course we all know the story the sops fable he gets to the end of the race and wins while the hair is distracted and all over the place. And then at the end is desperate to try to catch up. Yeah. Desperate. When people say I'm desperate to catch up, I'm too far behind. That's true. These are phrases that people say right before they lose a lot of money. That's right.

Stepping into manure up to their eyeballs um because some of the dumbest business deals i've ever done were ones i got in a hurry i thought it was a one i thought it was a silver bullet i thought if i get this it's going to be the thing it's going to be the breakthrough it's going to be the one and and i and i just walked straight into a mess and i've done it i haven't done it lately it's been a while since i've done that but the dumbest stuff i've done is when i felt like there was scarcity like i had to rush like i was desperate like i was scared like i was behind i had to catch up i'm scratching and i'm clawing and that's when ambition flips over into desperation,

and you're getting ready to screw yourself then. Well, when you put a number like $300,000 on being enough, you're going to find out when you get to $300,000. It's not. That has nothing to do with it. It's not even close. One of the things I'd love to give him, Dave, let's give him the get clear assessment with the new book,

Find the Work You're Wired to Do. I think Alexander. Give him Rachel's book he heard about, too. That's right. Hey. Love your life, not theirs. You win a book, and you win a book. It's going to be great, Alexander.

Go for it. We're going to give you a lot to read. This is The Ramsey Show. Ken Coleman, Ramsey personality, is my co-host. Veronica is in Tucson. Hi, Veronica. Welcome to The Ramsey Show. Hello. Thanks for taking my co-host. Veronica is in Tucson. Hi, Veronica. Welcome to The Ramsey Show. Hello.

Thanks for taking my question. Sure. I appreciate it. So this is a question I've had for a few months now. It's been bugging me. It's not really a debt question for me, but rather someone else, if someone else is willing. I'm 37 and have a dog-based business with a lot of services. My husband and I got out of most debt except for a credit card that we use for traveling.

It only has like $2,500 on it. I'm wanting to know if seller financing is something that people want to do right now. I want to sell my business, but I know that right now a lot of people don't qualify for loans. And if seller financing is something I should advertise as an option for selling my business. Probably not. Okay. Because you could end up with the business back, which defeats the point of selling it. Mm-hmm. Like, if they don't pay. Okay.

And when they don't pay, by the way, it's because they ran your business into the dirt. Mm-hmm. used to be a thriving going concern is now a mess with angry customers um and lost customers and lost revenue and now you're supposed to take it back over and rebuild it and it's just hard to find the energy to do that okay okay now if you're gonna do it there's a guy I used to do, you know, 40 years ago, I did some real estate deals with a guy who used to buy mortgage notes. And he had a saying that applies to this situation. He said, if you're going to carry back a paper on a house you're selling or a piece of land you're selling, same kind of thing, right? Then he said, you want to do it where you're happy, happy. And I said, how does happy, happy work?

He said, well, you get a huge down payment, and then you're happy if they don't pay because you're getting that down payment in your pocket and your property back. So you're happy if they default okay and you get a huge interest rate so you're happy if they pay so i'm happy if they pay and i'm happy if they don't pay so you kind of got to structure it that way to where they put so much down and and maybe you, I'll be crazy, what would your business sell for? I got a quote for, not a quote, but rather someone came and evaluated everything,

and it would go for $350,000. Okay. All right, so, you know, put $100,000 down, and I'll take a quarter of a million dollar lien against your family farm that's worth a million. Okay. Then I'll finance your business and hope you don't pay, because I get a million dollar farm in the foreclosure.

Follow me? Yeah. That sounds kind of brutal all right but the problem is yeah but the problem is the problem is if it got if it goes bad and you're not in a position that feels like that then you're the one that got screwed so you said you're in the doggy business what do you do i have a self-serve dog wash um grooming boarding and daycare and then we transport we transport dogs cross-country too so your passion for caring for animals properly and your love of animals and for that matter even people that love animals uh has caused you to build a customer base that trusts you and the processes that you have put in place. If someone comes in and violates that trust,

they will destroy the value of this business, and then you get to take it back. Okay. That's my concern. That's what I'm afraid of for you. And I don't know how to protect you from that except setting up some kind of brutal secondary scenario that's where they go through the bank too yeah they could they could go i don't care where they go but i would take less

money and get all of it oh i see you're saying. I would rather have $250,000 cash than $20,000 down and pray these people don't screw this up. Okay. Well, I guess that makes me have to think about that because I was looking to sell, you know, not tomorrow, but in a few years' time. Yeah. And just trying to pre-plan. You're going to have to stay on top of that business as if you still owned it until they pay you. Okay. That's what's going to happen in this situation.

Because what you sell is not dog grooming and transportation. What you sell is my trust in you as your customer that you're going to take care of this dog and not leave it, not harm it, not be mean to it, and still get the grooming done and the transportation done. Okay. You know, you sell trust. Mm-hmm. okay you know you sell trust and um and i know how wickedly ridiculous all the ramsays are about our dogs how crazy we are about our dogs and if someone were to mistreat that dog or just not simply give it the addict not give it the appropriate amount of care if we gave them money to do so we would get really emotional about that as a ramsey and i bet your customers are the same way absolutely yeah they are yeah this is not this is not i didn't uh fix your car this is i messed with one of your children that's what i mean by trust and if they go through the bank am i i don't have

to do anything you don't have to do anything they're just they're going they're going to get their own money however they get their money and hand it to you that's the best case scenario because i get your money right away and i would take less and get my money and leave okay i really would because you all of the things i just described were not fun you didn't hear anything fun in there no not at all and because i'm you can tell i've been there and you can tell i've i've dealt with lots of customers through entree leadership that have tried to do this and um the weird thing is is you feel like you've sold it and you don't have to worry about it anymore and yet their success is the only way they're going to pay you.

So now you've still got to worry about them operating properly. I agree. It's a headache you just don't want. You want to get out of the pet business, not jump into a new business called financing. That's effectively what this is. Yeah. I'd start talking about it now. If you have a two-year runway i'd

start putting the word out now and you know let the word know that hey i'm looking to exit in the next couple years i wouldn't wait until i'm ready to exit you know now the other thing is this the shorter the terms the less the risk so let's pretend veronica's business is making 150 000 net which is not no it would be worth more than $350,000 if it was. But if they gave her like $100,000 a year for three years or for two years after putting $100,000 down, you know, two years is harder to screw it up. Yeah. But if we're financing this over 10 years, you're going to have a problem.

Yeah. You don't want to get in that business. I wouldn't. I wouldn't. And it's not yeah you don't want to get in that business i wouldn't i wouldn't and it's not on it's not because i don't like borrowing money it's just because it's it's gonna end poorly it's not gonna take us to where we uh where we where we need to go so now we do talk to in our entre by the way if you want to listen learn about small business stuff we do a i do a podcast uh once a week on entree leadership uh the entree leadership podcast which is one of the top leadership and small business podcasts out there and i answer questions

just like veronica's there um only i take a little more time because it's not uh riddled with commercials like this show and so but anyway yeah so yeah if you want to learn about that stuff and we talk a lot about you know a family member taking over the business and buying out their dad or buying out their mom very very quickly out of the profits yeah that's a little different scenario uh than uh you know the the than just financing your doggy grooming thing for 10 years. Yeah. And somebody puts down 20 grand or something. That's just, please don't do that. Please don't do that. All right.

That puts this hour of the Ramsey Show in the books. សូវាប់ពីបានប់ពីបានប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពី We'll see you next time.