The Ramsey Show - App - Dave, What Mutual Funds Do You Recommend? (Hour 3)

Episode Date: August 11, 2021

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Thank you. Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, 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. Dr. John Deloney, Ramsey Personality, is my co-host today as we answer your questions about your life and your money. It's a free call here. Some say the advice is worth exactly what you pay for it.

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number again 888-825-5225 sebastian's in little rock hi sebastian how are you hey guys i'm doing great uh i'm getting some career advice over here okay so i'm 21 years old uh i just got married like two months ago congratulations paid off thank you We just paid off my wife's student loans about $20,000. Wow. And now I'm thinking about going to graduate school and I just want to know if that's the,

you know, next right move for me. What do you want to go to grad school for? So I want to go to like, you know, the big schools. I want to go to MIT

or Stanford and get my PhD in data science just because I love all that stuff. And I've been involved with research a lot during my undergrad years. And as far as I know, grad school for especially that program, it's all paid for. All you have to type in the ULIP off and then they pay for all your books and insurance and tuition and all that, right? Yep. But financially speaking, if I did get my PhD and I got the same job, you know, like right out of college, I'll probably just be making like 10% to 15% more by having that PhD degree.

So I'm kind of debating if it's really worth, you know, spending four or five years into working on your thesis, working on your research project, just to get that little bit more extra cash at the end. It's been a couple of years since I read this study, so I'm going to butcher it up a little bit. But distilled all the way down, if you can get into a Ph.D. program in data science

at one of those two schools, the connections you make inside that program, meaning the folks who are creating businesses that would co-create businesses with you, that would co-create new knowledge that y'all would go on to build new products, et cetera, could have a potential and infinite return. And so if you're able to, if you were my friend

and you said, hey, I have an opportunity to go get a free PhD in data science at MIT or at Stanford, I would say I will come visit you in Boston or Southern California or Central California. The other side of it is ask yourself, is that the life you want? Because you are right. or six or seven years of your life will be chasing down a problem, a central problem, will be writing papers, doing math equations, going to things,

and not making a whole bunch of money. And if you have the computational power inside your own head to get into those programs, you have the opportunity to go earn money right now, a whole lot of it. Right? Right.

What's your undergrad in, Aiken? So my undergrad will be in computer science, engineering and physics, and applied mathematics. Okay. Yeah, so you've got to ask yourself, what life do you want to live? So ideally in my mind, I would like to start my own business, have like a startup idea that relates to your AI or machine learning, and then be able to run that business

and also spend time with my family and my wife. So do you have the benefit of going to those programs is it's iron sharpens iron. You're running around the smartest minds on the planet in some of those areas. And do you have the ability from wherever you are in Little Rock to start an AI company that's going to – does that make sense? Do you have the tools that you need at your disposal or is being around that type of sparring partner going to be worth your time? Hypothetically, yes.

I do have the tools and like the ability to do that right now. Practically though, it will be more challenging. It's not the same, you know, being in the Valley, in Silicon Valley, developing ideas and all that and being in Little Rock. Sure. What do you think Dave? the valley and Silicon Valley, developing ideas and all that and being in literary arts. Sure. So that's kind of what I'm debating. I think the MIT PhD issue, it sounds really fun and really challenging in a lot of ways. I think the play there is for one half of a 1% probability.

It's a very narrow play. That you can actually get in and get that deal? No, you can get in and get through it. I think this guy can do that. But then what do you actually end up doing with that that makes that beneficial? Right. It's a very small play. And if you hit it, it's a home run.

That's right. But it's not as broad a play. The broader play that has a higher probability is to say, I'm going to go right now and get a job as a data analyst with some of the top data analyst people in the world at a tech-based company that's really forward-thinking and is doing a bunch of AI stuff, and I'm going to get in there and rub shoulders with those guys in the business world,

and I'm going to make $100 the first year, $200, $300 the third year, and then I'm going to be from that in a position with my business acumen and having rubbed shoulders with some guys, put a little bit longer in the tooth, I'll be in a position to start a business that you obviously, to start and run a data analyst business, you do not need a Ph.D. Absolutely not. The only benefit of the other thing is the iron sharpens iron and hanging around with smart people, and you become smarter as a result of doing that.

So I – What if you want to be a professor someday, which you told me you don't want to, right? Yeah, you want to start your own business. You want to start your own business, run his own business and run your own business. Uh, the, the, the, the lift is probably not worth the trip. No. And if you want a life that I want to hang out with my family, I want to make some money. I want to go, yeah, go get a great job, man. Yeah.

And I, I, I think you go get in and here's the other thing the particular field that you're in i mean we've got uh 450 tech folk on our team uh data analysts we've got uh data scientists we've got uh platform engineers and people that do stuff i'm not even sure what they do and they're on our payroll but uh and they're unbelievably smart oh they're incredible unbelievably smart we got a real tech company here hidden behind a radio show and um uh but the uh uh what i have figured out having written all these checks for these people for years now is that the the rate of change in your world sebastian, is blinding. Yes. While you are doing this PhD, the world is going to completely change four times. And I think you'll have a better chance of staying up with that change in industry than you will in academia.

That's my opinion. Yeah. What do you think? I don't know enough about – I would hope that if you're studying AI, it's moving ahead of where the industry is. That's my hope. But who knows, man? Maybe you're leading the industry. That's exactly right. That could be.

But you've got to keep up with the rate of change either place. That's right. Because four years from today, you're going to be obsolete in that world if you haven't kept up with the rate of change. If you're not ready for a PhD program, if you're not 100% in, go get a job, make great money, be with your family, and start from there. I saw some recent financial statistics, and there was some pretty troubling news. When families were asked how long it would be before they faced financial hardship if a spouse died, nearly one-third said they'd be in trouble immediately. Another 44% said they'd be financially drained within six months. People, it does not have to be this way.

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Hugo is in Maryland. Hi, Hugo. Welcome to the Ramsey Show. Hey, Dave. Hey, John. How are you Maryland. Hi, Hugo. Welcome to the Ramsey Show. Hey, Dave. Hey, John. How are you guys? Great, man. What's up?

Hey, so I have a question about your recommended growth and aggressive growth mutual funds, which I know they translate loosely into mid-caps and small-cap funds. Within those funds, there are blend funds, which have growth and value stocks. What do you think of blend funds as opposed to just strictly using a growth investment strategy in those specific market caps? Either one's fine. What you're looking for is a track record, a long track record, giving you a positive rate of return.

It's that simple. And so, I mean, if you want to compare something that's got some blends and some value in it, and it outperforms a straight-on growth strategy across the board, and you're comfortable with that, that's fine. It still qualifies. The bottom line is we're participating in the stock market in a way that beats the indexes that's what you're looking for and so you know if you're in the growth area then you'd want to outperform the s&p if you're in the aggressive growth you'd want to outperform the russell and and that's your index that's your your benchmark your watermark

otherwise you could just invest in the index funds, which is the Bogle strategy. John Bogle is famous for that. He started the no-load S&P 500 at Vanguard, the very first one, and started the whole passive investment movement. Because a high percentage of mutual funds, over half of them, don't outperform the indexes. So what you're looking for, regardless of what the internal mix is, is something that generally fits those categories and will beat those indexes. That's how I pick my personal funds. But it's really not rocket science. And here's the other thing.

It's very good that you're asking this question. It's a very intelligent question. It's a question that indicates you're a fairly sophisticated investor. This is not your first ride on the cabbage truck. Let me warn you, though, about something that we found in the millionaire study that we did. The vast majority of those millionaires were mediocre in their sophistication of investing sometimes guys like you and me that are a little more nerdy and we enjoy the nuance of all of this that because i'm having fun talking to you about it can you tell you know and so we enjoy the nuance of it we can get

paralysis of the analysis and do nothing while the other guy does a lot of things but just does the medium and he kicks our butt in total net worth when the story's over in other words in actually doing the investing mediocre versus not doing it and having a bunch of theories makes people rich and so that's that's the thing you don't want to get caught up in and go i get paralyzed by these nuanced comparisons and uh you know so i mean like people come at me all the time and they're like oh you know you you should just do the bogle thing and just do all indexes hey if you just do all indexes and you put 15 of your income into retirement you're going to be a multimillionaire.

I got no problem with that. Go do it. Do something. Yeah, go do it. But that's better than sitting around having a big, long, lengthy discussion, writing a money blog in your mother's basement. Or going from Bitcoin to the next thing to the baseball cards to whatever. That's going to be the title of my next chapter, Beanie Babies to Bitcoin.

I like it. It's a get-rich-quick chapter. That's you know and so you're chasing your tail and you're not because i actually did have doobers back in the day say they were investing their money in beanie babies absolutely i remember them they were just and they're like i put my kids college and beanie babies i thought they were joking but you know there's just you know if it's not that it's the iraqi dinar or there's some stupid. And now, Hugo's not doing that. He's just asking for the nuances within the nuances within the things that we suggest. So he's still fine. He's in bounds. He's in bounds.

He's going to get a touchdown. But something about that question sets off in you. When you start going real deep, real deep, real deep deep you're dangerously close to doing nothing or just need to read another paper and one more paper well here's the thing the interesting thing is the data tells us that what makes people wealthy is actually investing more so than the rate of return that's the thing you know but and and that is lost on people who love looking for a tenth of a point on something. They're shaving something. And, again, I'm not picking on Hugo.

No, it's great. But, you know, it's one of the biggest knocks on Dave Ramsey. Dave Ramsey doesn't know what he's doing. Yeah, I actually do know what I'm doing because I actually get people to freaking invest. Right. Which is more important than all this other BS people talk about. And, again, not picking on Hugo because I love having these discussions. I love nerding out on this stuff.

And I love digging around in the mutual funds, scratching around in there trying to find one that beats the index just to prove I can out-bogle-bogle, right? But Bogle's brilliant. I mean, he kind of democratized investing in a sense because it's anybody can do it. Just take the dadgum index fund and go to sleep. And, you know, it's freaking car automatically drive itself, you know.

But if you'll keep doing that, you'll be a multimillionaire. That's awesome. But, you know, there's a lot of other factors that come in. If I can just get you to invest and never stop investing anytime there's a COVID blip, you know, a war, a scare of this or a scare of that. Toilet paper. Or whatever, whatever it is, whatever reason it is that you're next scared about the stock market. If I can just get you to ignore that and just keep going and keep going and keep going and keep going and keep going and keep going. Man, 99% of the time I time i'll make you rich doing that even if we screw up and oh he has those aren't no load mutual funds they charge

commissions who gives a crap you know you're actually doing it and the guy that's getting the commissions causing you to keep doing it and there if you keep doing it you're gonna have money so i love you go i love these ideas and these questions but it's just it's a little bit frustrating because a math guy like me we wish it was a little bit tricky more complex so we could we could figure out the little trick yeah and we could go do it you know and all the regular people that aren't math nerds couldn't do it yes but the problem is anybody can do it exactly right if you just do it and do it and do it and do it and do it and do it and do it and do it. Good question, though, Hugo. Thank you, man. Fun discussion.

Keith's in Phoenix. Hey, Keith, what's up? Gentlemen, thanks for taking my call. And I'm not sure my question is going to be as exciting as the last one. But nevertheless. I'll help you out, Keith. Not anything much more exciting than comparing value funds. I'm just saying.

I'll give it a shot anyway. But so here's the deal we're uh my wife and i are halfway uh to a fully funded emergency excuse me emergency fund uh we're looking at about march of next year to be done good with that but we we have two cars and one of them uh because of the values being a little bit higher now we're contemplating whether we should sell one of those which we could probably get about forty45,000 for. We need about $20,000 more to fund that emergency fund. But I'm a little bit hesitant to do that. What's your household income?

We're about $140,000, $150,000. What's the other car worth? The other car, the second car is worth about $5,000. I'd keep it. But they're both paid for. I'd keep the $45,000 car. It's not out of line. It's not a problem. Because here's what's going to happen. If you sell that car, this time next

year you're going to be shopping for a dead gum car. And, you know, that's just you should have just kept that one. Now, I'd hold on to it. It's not that big a deal. You're in good shape. You've got a nice car. It's within your range.

You're fine. Keep it. This is the Ramsey Personality, is my co-host today. Todd is in Fort Wayne, Indiana. It says on my screen, Todd, you're debt-free. Congratulations. Thank you very much, Dave. How much did you pay off, brother?

A long time coming. $245,000 in 10 1⁄2 years. Wow. It's a no longer journey. Love it. And your range of income during that 10 and a half years? Started at $45,000. I am now $110,000 now. Excellent.

What do you do for a living? Pharmaceutical sales now. Cool. Very cool. So I'm guessing with this length of time and this huge amount of money, maybe you paid off your house? Not the house, but quite a bit. We started our journey, my wife and I at the time, when we were pregnant with our twins, which would have been number three and four. And we started even knowing that she had to stay home and she chose to do that. And so we had to

get our money under control real quick i'd already been listening to you and so being the nerd that i am i have a excel spreadsheet you know from 2008 when i started listening to you to the time we started in 2010 and uh it's just been an awesome awesome opportunity wow see this wow so you you hustle i mean you just grind and grind and grind 10 and a half years later wow was it mostly student loans yeah student loans was the enormous part of it yes yes getting my master's and paying off my wife's debt as well for student loans so there was quite a bit in there. What's your master's in? A business.

Okay. So you got an MBA? I do have the MBA, yes. Okay, cool. Very cool. What's her degree in? Teaching. Okay. Teaching.

So we've done a good job, and unfortunately, last year we separated. But I know she's debt-free leaving that marriage. And so we're both debt-free to my knowledge. And I'm excited that she's able to move on and go in that direction. And then for myself, I just look forward to spending time with more of my four kids. And I sent some pictures in. We were able, after getting debt-free, to go on vacation and hit up several national parks over the summer before all the fire season started so it was awesome looks like an epic trip yeah tough time in their lives too huh right right so but i've been able to teach the class actually twice at church uh

three times at the community center and helped a lot of people along the way and a lot of people were way ahead of me but I knew I'd see the end of the light and now I'm here. So what kept you going for a decade brother? That's a long time to be committed to something. Yes. Long time coming. What kept you

moving? What kept you going? I'm big into numbers and that's's why, like I said, I have an Excel spreadsheet going back all the way to 2008 before we started the program and after I started listening to you. And it's just, you know, I just keep going, and it gives me motivation to see it. I do it every month, look at the number, bottom line number every month,

and know that I'm making progress, and that's how I measure my progress wow well congratulations I'm very very proud of you yeah what do you tell people the secret to getting out of debt is you've taught the class you paid off 245,000 you're an expert what's the secret stay focused it's hard sometimes there's a lot of temptation to get out of it and not follow it, but if you stick with it, you will make it. Set your goals and be focused. While I've got you backing out $100,000, would you recommend to your former self that MBA is worth it?

We should pay a full price for that executive MBA program. Has it helped you or would you go back and do it again differently? It helped me with my business and all the jobs I've had, but in terms of how much money, it'd be questionable at this point. That's a very common answer. Well, brother, I'm proud of you, man. So what do you tell, what are you passing along to your kids here in this new season? Well, they know that there's a limited amount of money that they are going to receive, and they know the bottom line when dad says no

it's no and but they also know how to make money they my oldest is trying to start her own business and uh she's not even out of in out of high school yet and my twins sell produce out of the front of our farm and uh so every fall so it's really kind of cool so they've gotten the bug very cool and they know that dad's committed to it to help them very neat well congratulations brother thank you for teaching the class and uh you did it man 10 and a half years wow pretty amazing we've got a copy of the legacy journey for you that's the next chapter in your story and a copy of the total money makeover for you to give away to somebody. I'm sure you know how to do that after teaching the class and get somebody else started on this journey.

And, man, you've got a wide open thing in front of you now. The next chapter, turn the page. Turn the page. Turn the page. All right. Todd in Fort Wayne, Indiana. I'm sorry. Thank you so much for all your help.

I appreciate it. Thank you, sir. i'm sorry thank you so much for all your help i appreciate it thank you sir todd in fort wayne indiana 245 000 paid off in 10 and a half years making 45 to 110 count it down let's hear a debt scream three two one i'm dead free Yeah! Wow! Angie is with us in Phoenix. Hey, Angie, what's up? Hi, I am getting ready to retire.

My husband and I, well, I'm 58, my husband will be 59, and I'm getting ready to sign the retirement papers, and I want to know if that's going to be a good thing for us. Sounds like you're doing it. We want to do it, yes. Okay. But we have a pension that we're going to get and it's on the rule of 80. We paid 5% into it, so it makes sense to take the pension. We'll be getting $120,000 a year. We have about $400 equity in our house, but we

owe $200,000 on it. You have a nest egg? Yes. We have between a 457 and a 401A between the both of us is $750,000. And we have our three the both of us is $750,000. And we have our three-month emergency fund of $25,000. So you're millionaires.

Congratulations. Thank you. And your question is, is it okay to retire? Is it okay to retire? What we're thinking about doing is, since we don't have the house paid off and our money, as you know, is in a 401k, 457, we're going to have to pay taxes on that stuff. But I want to make sure we have enough money for funds.

So we're going to be... What do you make now? What's your household income before you retire? We each make about $100,000, so $200,000. So it's going to drop to $120,000. Can you make it? That's what I'm nervous about. Hold on tight.

Are you holding on to something with both hands? Are you going to be all right? Yeah. I think so. And so if you use some of this money in your nest egg that you're not going to use anyway to live on because you're living on the pension, and you use some of it to pay a little taxes and pay off your house, that'd be a good thing. That'd be an excellent thing. Which would also give you more wiggle room in the 120, by the way, because you don't

have a house payment anymore. Right. Do it. That's what we're hoping for. Do it. Do it. Yay. Pay off the house.

Thank you. Thank you. I've listened to you forever. I appreciate it. We just got out of debt this last COVID, the March 2019, around that time period. So we're real excited. Well, you've done a great job handling your money over a long period of time, it sounds like. And here you are at 58 years old.

You're millionaires, everyday millionaires. Way to go. This is how you do it. Now, the warning is you're awfully young to do nothing. Go do, find a mission or a purpose or something. Yes. Okay. Definitely.

Don't just do nothing. Sitting on the couch watching Oprah reruns, bad plan. Because not good for the soul. And paying for his funeral is going to be expensive, right? Because you're going to kill him. You're going to bury him in the yard. Y'all got to have something to go towards. And then you'll be a ward of the state.

That's exactly right. No, no, no, no, no, no. Yeah, let's not go so dark so quick, John. My gosh. It's just what happens. It's just what happens. Kill him and bury him in the yard. Why don't we just get something to do with our hands here?

Something to lay our hands to. With no shovels. Yes, you're right. This is The Ramsey Show. Our scripture of the day, John 14, 6, Jesus answered, I am the way, the truth, and the life. No one comes to the Father except through me. Charles Swindoll said, Life is 10% what happens to you and 90% how you respond to it.

Dr. John Deloney, Ramsey Personality, is my co-host today. Julia is in New York. Hi, Julia, how are you? Hi, Mr. Ramsey. Hi, John. I'm good. A little nervous and excited. How are you guys?

Great. How can you guys? Great. How can we help? Yes. So just some quick background information and then my question. My husband and I were a young couple. We just had a baby nine months ago. Congratulations. Thank you.

Thank you so much. We're looking to get out of New York. We're just north out of New York City. Just craziness going on here. Very restrictive. We want to move down south to Florida. We just want to know if it's a good idea to sell our house now since the market is so hot. We are pretty house poor. 60% of our income goes to the house. And if we should sell and then rent down there. And if we do that, should we throw our money at the proceeds at the debt and save some to live off of since we do have a baby

and it's a big move going down there, you know, across, you know, down the coast, just kind of looking for some guidance on if this is a good move or not for us. Well, if it's a good move, it's up to you guys. That part I can't decide for you. It sounds like you've already made the decision to me but um and and so and there's nothing wrong with the move with that you're describing or your reasons as far as i'm concerned um the uh as far as what to do with the money part um how much debt do you have not counting not counting your house okay not counting the house, we have about $75,000 in consumer debt. Right, and how much equity will come free when you sell the house?

How much money will you have in your hand from the house sale? I would say at least between $100,000 and $150,000, depending. Okay. So, yes, I would write a check that day and be debt-free. I would move to Florida. And you've got $75,000 to put down on something if you want to buy something. Have you got jobs lined up? Not yet.

I mean, I'm not going back to work this year. I'm a teacher of the deaf. I'm going to stay home with the baby, and my husband works for the railroad. So he's going to keep working. We're just going to, you know, make ends meet on his income. Can he move his railroad job to florida uh well he he thinks it's very promising that he'll find something down there for sure he's been looking for a lot of openings it's just a matter of okay that's that's step one yeah we don't go to florida and

hope right julia i hear on your baby i hear on your voice that you are in a panic. You've backed yourself into a corner. We've got to do it right now. The market's hot. If we don't do it now, you've got to breathe. Because what you're all going to do is you're going to jump off the dock, and there's going to be no boat down there, and you're going to have a little nine-month-old baby,

and you and your husband are trying to tread water. Yeah. You're good. Slow down. Okay? Slow down a little bit. You're all right. I think everything going

on with with new york it's just kind of like i got you i got you i don't blame you for wanting to uh you know it's a bad science fiction movie escape from new york right i mean so a lot of people are doing it a lot of people escaping from california there's a lot of that happening a lot of migration in america right now um and it's not due to covet it's due to freedom and so lots of people lots of people making the decision you're making right now and so that's okay but slow down two beats john's exactly right so beat one is husband goes and gets a job the faster he does that you can go to beat two and that's put the house on the market and sell it then you can decide are we going to rent or are we going to buy in Florida

because we're going to write a $75,000 check and be 100% debt free. See, if you move to Florida and you have $75,000 in the bank and your husband has a job and you rent a little while, no big deal. If you move to Florida and you have $75,000 in the bank and he does not have a job, you're going to burn through that money and you're going to be fretting and anxiety ridden and looking at this nine month old going, how are we going to feed it? And you're going to be all this other stuff going on.

Then he's going to end up taking a crappy job and then you're going to wish you hadn't moved. Yeah, you're right. And then whatever politician is going to get voted out with the flavor of the month and New York's going to come back to sanity and you're going to go, what do we do? That's why I want you to exhale. Just exhale. Get this in the right order.

He needs a job. The faster he gets a job, the faster you put the house on the market. The faster you put the house on the market, the faster you move. And as soon as you move, you're debt-free. And when you do that, then we can breathe. It's okay to rent for six months and take the $75,000 and look and learn the area, get comfortable, get settled in, because a new area is tough to buy intelligently in. After six months of renting, you'll make a much better purchase on a home.

It does mean moving twice, but you've got a lot of comfort there. If you're sitting on $75,000 of just... And you owe nobody anything. And you don't have a single debt, and you get inexpensive rent, and he has a good solid job equal to what he's got now, you'll make a very calm, wise purchase of your home in Florida. Or maybe it's not Florida, it's Alabama, or it's Texas, or it's wherever. Just breathe. Yeah.

Yeah. So, yeah. So, yeah. And some of this goes with you're holding a nine-month-old in your arms. That's what I'm going to say. That nine-month-old. I got to take care of this. I got to take care of this right now. Feel the walls closing in on you, and they're not.

Just breathe. Get some friends, and I know that's hard to do where you're at right now. Get some people you can laugh with, talk with. Turn the news off, and breathe. Jim's in Hollywood, Florida. Hey, Jimim what's up hey dave john nice to uh have you take my car appreciate it thank you how can we help my question is uh i'm sitting on a home right now it's currently a hot market down here in south florida it's worth about $700,000. I'm totally debt-free, plus I own four condos that are totally, you know, I own them straight out and getting rent from that.

You own the house? The house is free and clear, too? Correct. Okay. And so between the condos and Social Security that my wife and I are living off of, we clear about $80,000 a year on that. My question is, I've been wanting to move for the last couple of years up the line about four hours from South Florida. And the thing is, my wife feels like she has a mandate from the Lord to take care of her aging mother, which is 89 years old.

She still lives in the same home that she's owned for 30, 40 years now. And all the siblings are taking care of mom, feeding her and whatnot. But my wife is a little apprehensive about taking the move. And my thoughts were, if we were to move four hours away, we can come down at least once a week and take care of her, like stay on for two weeks, go back up, et cetera. And I just want to get your thoughts on that. I think this is a bigger conversation than we can do in two minutes,

but I think what care looks like and how you're splitting that up amongst her brothers and sisters, what you guys decide you're going to do and making sure you're both on the same page is going to be important here. But, yes, you can live in a different state with aging parents. Yeah, and you can make some trips back. Absolutely. And making sure that mom's taken care of can be a mandate from the Lord. But how it's done I don't think is a mandate from the Lord. How it's done, I don't think, is a mandate from the Lord. So is it done by you making some trips down and, you know,

working a system, a schedule with the brothers and sisters? That's okay. The other thing is, Jim, it might not be that long. Yeah. It might be this is just a gift you give to your wife to just chill for a year. Or maybe you sell your house and move into one of your own condos for a year, and there's a hundred things that could happen, right? Yeah.

But I don't know. There's nothing. Again, I'm not going to panic to take advantage of this real estate market. It's a $750,000 property, and Hollywood, Florida is not that super expensive. That's mid-market, and so slightly above mid-market. And so, you know, that's a movable property in virtually any economy. And so you're not going to lose money on this or miss a narrow window of opportunity to maximize your wealth building over this.

You've done well. You're millionaires. You've got plenty of money. You're living fine. It might be just a time that you're just kind to your wife. And she just takes care of her mom. If you sit for a year and you'll get mom settled, you'll get everything settled, and you sell this house for $650,000 instead of $7,000, don't hold that over your wife.

Let that go, man. That's just part of love. It's not going to go down. You don't have to worry about that. I'm just saying, man, don't hold anybody. Take care of your family. Yeah, it's worth it to do right by her. That's why you did all this.

And you can do right a couple hours down the road, too. Neither one's okay, but it's okay to just chill a little bit. John Deloney, good show. This is The Ramsey Show. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus. Hey, it's Kelly, associate producer and phone screener for The Ramsey Show.

If you would like to do your debt-free scream live on the show, make sure you visit theramseyshow.com and register. We would love for you to come to Nashville and tell Dave your story.