The Ramsey Show - App - Don't Accept a Deed to Dramaville! (Hour 1)

Episode Date: October 31, 2019

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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Dave Ramsey Show, where debt is done, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host. You jump in. We'll talk about your life and your money. It's a free call at 888-825-5225. That's 888-825-5225.

Melissa starts off this hour in Massachusetts. Hi, Melissa. Welcome to the Dave Ramsey Show. Thanks for taking my call, Dave. I really appreciate it. My pleasure. How can I help? I've been using your every dollar budget since I discovered it this summer,. I really appreciate it. My pleasure. How can I help? I've been using your

every dollar budget since I discovered it this summer. I absolutely love it. And my question is, especially as we're coming up on the holiday season and sometimes you get gift cards for gifts, how do you recommend incorporating those into the budget, either, you know, somehow putting them into every dollar or, you know, just accounting for them differently somehow. So you might use a gift card for clothing rather than your clothing money. Correct. Okay. Well, I think you would just reduce your every dollar entry

by the amount of the gift card for that category. Let's say you have $200 in your clothing entry, and you've got a $100 gift card. You instead would have $100 as your entry in every dollar, and then you put $100 cash in your envelope, and you put the gift card in your envelope. Okay, so don't kind of factor it in, but you have that there. I am factoring it in.

I'm reducing what you're spending in the category but in the budget okay but it's not it's not showing up i'm not adding it in and then taking it out i'm just taking it out okay that has the same effect because it gives you more cash to work with the fact that you've got the gift card in another area of your budget right sure yep okay yeah that makes perfect sense yeah so if you lower your if you lower your clothing budget in our example by a hundred dollars in every dollar then that frees up a hundred bucks to go somewhere else because every dollar has to be assigned so that hundred dollars has to be assigned somewhere now that we've lowered it in that category and so you're going to raise it in a series of other categories or one category, whatever you do.

And so the gift card had its desired effect. It gave you more money for the budget. And that still will work. And, of course, you just treat it like it's cash then. And that's the problem with gift cards. A lot of people don't. They forget they have them. Seldom do I forget I have a $100 bill.

But I do forget I have a gift card. And you do too. That's the problem with them a lot of them don't ever get redeemed all right tanner is with us in idaho hi tanner how are you doing great dave how are you better than i deserve how can i help um so i'm graduating college uh in april we'll be graduating debt-free, my wife and I. Way to go. How'd you do that?

You know, we just have been very blessed. We're attending a school where tuition is very low. You're very blessed because you chose to attend a school where tuition is very low. That was a good choice. Okay, that's one thing you did. And on top of that, we've qualified for federal aid, telegrants, as well as academic and other scholarships. Wow, good for you, man.

So what's your degree in? I'm majoring in civil engineering. Good for you. Wow, awesome. So you're coming out in April, and what's your question? So we're going to have to probably buy a new car not too long after we graduate, and we want to build up our fully funded emergency fund, and we'll want to start saving for our down payment on a house.

And I'm just wondering how to go about it all. Do we do it simultaneously, or do we do it consecutively? And, you know, what order do we do it in? You don't do the emergency fund simultaneous. You do it before you talk about anything else. Baby step three happens before you move on and start buying things. Then baby step 3B is saving for the house. At that point, you could also be saving for a car.

And so you could do car then house, or you could do car and house if you want to do simultaneously on that. I don't care. Either one's fine. It's probably easier just to save up and buy the car and then start saving for the house. I probably would just do it in consecutive order. I certainly would do baby step 3, your emergency fund, before you do anything else. That's your first goal. Once that's in place, I'd probably save up and buy me a car of some kind for cash

and then get about the business of saving up for a house. What that's going to cause you to do is limit your budget on the car. You're not going to want to go buy a $30,000 car because you want to go buy a $7,000 or $8,000 car or $10,000 or whatever so you can get on with the business of saving for your down payment. And so by putting it in front of the house it uh rather than simultaneous with the house it probably will limit the car a little bit which is not a bad thing i'd rather have a house and a car they go up in cars houses go up in value cars don't but you need both it's okay joe's with us joe is in virgin. Hi, Joe. How are you?

Hey, I'm doing outstanding. Thank you for taking my call, Dave. My pleasure. How can I help? Yes, I have a question more along the lines of land stewardship. So I inherited some land from my grandparents when they passed roughly four or five years ago. And as my wife and I have been praying and looking at the year ahead for vision, we're pretty much debt-free.

We've done things a little out of order. We have our emergency fund, and we're starting to pay extra on our mortgage, but I have this paid-for property that is a state away, and it's looking like we're going to have to either allocate some resources, and it's hard for us to really see us using that property. And I'm kind of having a hard time with imagining selling it, but I'm not really sure what to do with it since we don't really use the property. What are the resources you would have to allocate to it to keep it?

We're able to keep it right now. It was a paid- for piece of property. I grew up there, so there's a lot of sentimental value. And also, I have a hunting lease on it, so cash flows a little bit, but it has a house that needs some work on it or actually removed, tore down, and to use the property if there's no house on it. We're looking at maybe building the cabin on it or something of that nature, but kind of hard to imagine doing that if we still have a mortgage. And I know how you talk about second homes and things of that nature, so I'm not really sure. What's your household income? Roughly $180,000. What's the land worth? Roughly $180,000. What's the land worth? Roughly $400,000.

And what do you owe on your home? $300,000. $300,000. Okay, so what would be wrong with the land and the house that's rotting down just sitting there for five years? I suppose nothing it's um it's hard to imagine really going there and enjoying it well i wasn't suggesting that you were going to go there and enjoy it during the five years you're getting out of debt and you're not going to spend money i'm with you i'm not going to spend money to build a cabin while i still have debt on my home but you make you make really really good money and i'm cabin while I still have debt on my home. But you make really, really good money, and I'm thinking you'd be debt-free on your house in about five years or less,

and then you could build a cabin on it. And if you think you would actually use it and want to keep it in the family with a cabin on it, I don't have a problem with that if you want to hold off. I wouldn't spend money on it, though. If you're willing to emotionally let it sit there, do the hunting lease or whatever, and if you want to go over there, take a tent. I don't care.

And hang out. That's fine. If you want to sell it, it's okay. But I'm kind of okay with you holding it as long as we're not spending money on it until the mortgage is paid off. It becomes a second home issue, and we wouldn't do it until the mortgage is paid off. So it becomes a second home issue, and we wouldn't do that until the mortgage is paid off.

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supporting each other. It's what Christian Healthcare Ministries has done for over 35 years, and our members have shared over $2.5 billion in medical bills. To learn more, visit chministries.org. That's chministries.org. Christian Healthcare Ministries is a proud sponsor of Dave Ramsey Live Events. chministries.org. Our question of the day comes from blinds.com a 100 satisfaction guarantee is what they have and that means even if you mess up if you mismeasure you pick the wrong color they'll replace the window blind for free who does that blinds.com does free samples free shipping all kinds of promos always use the promo code ramsey today's questions from dan in illinois i'm 26 my wife's 23 we have no debt except our mortgage household

incomes 90 to 100 a year you're killing it man 63 000 in retirement can we stop our 401k temporarily to increase the amount we're paying off our mortgage each month. We have only $84,000 left. Thanks for your advice. Well, you can do anything. It's your house. You get to decide. If you're asking me what I would do, we teach a thing called the baby steps. And you're at what we call baby steps 4, 5, 6, which you do simultaneously. Four is 15% of your income going into retirement.

Five is addressing kids' college. Doesn't sound like kids are on the scene there. And six is pay off the mortgage early with anything else that we find left over. So you're asking me, would I stop baby step four in order to do baby step six? No, I would not. I would have put it in that order if I thought that was the better order. And this order has worked for millions and millions of people and so i would say continuing to put 15 percent not 20 percent not 100 percent not 17 percent 15 percent of your household income into retirement will not

keep you from paying off your little lady four thousand dollar mortgage you're still going to have it gone in just a few years and by the time you're 30 you're going to have a paid for house and you're going to have a bunch of money in your 401k by the time you're 30, you're going to have a paid-for house, and you're going to have a bunch of money in your 401k. By the time you're 35, you'll probably be millionaires of the route you're going. That's what it looks like to me on this math. So no, I would not stop the 401k to pay the mortgage off quicker. Not to pay the mortgage off, but to pay it off quicker. You're going to pay it off. The only question is, do you want to do it quicker and let the investments sacrifice at that no d is with us and d is in la that would be louisiana hi d how are you hi dave such a pleasure to talk with you you too

what's up i was calling i'm a new listener, and I'm into Baby Step 2 now. I'm working on paying off my credit cards and my car loan, and I'll have everything. I'll have all of that paid off in the next 18 months. Good. The question that I have, and 18 months also I'm looking at going to medical school, which is the next kind of step in my career. And I'm just wondering what should I do with my, like, $100,000 in student loans.

I've been paying on them every month, so I just know that I won't be able to pay them off in the next 18 months. And I have a full-time job. I work two tutoring jobs and a freelance writing job. And how are you paying for med school? Well, my full-time job is going to cover the first semester of medical school and then working on scholarships to cover the rest and looking into other programs that will pay for the tuition.

Phenomenal. Well, obviously your undergrads can be put on hold while you're doing that when you get there. As a matter of fact, I might go ahead and put them on hold now, get out of debt that much faster, and let's just leave them on hold knowing that you're going to keep them on hold through school. I just don't want you to make any more of a mess, but if you don't clean up the mess while you're in med school and you get through med school debt-free, we would call that awesome. Yeah, that's been my goal, especially since listening to your show. Actually, I was admitted to a medical school program,

and then I saw the loan package was extremely high, and I'm just like, I'm not getting any more loans. Like, not going further into debt. So I actually deferred a year. That's why I'll be starting in 18 months. Awesome. That's great. Where are you going to med school?

LSU Medical School. LSU? Yeah. Awesome. Louisiana State University. Yeah, yeah. Excellent. Very good.

Okay, cool. Well, I love it. Awesome. Louisiana State University. Yeah, yeah. Excellent. Very good. Okay, cool. Well, I love it. Yes. So what I would do is go ahead and put your student loans on deferral now, if you can, if they'll accept a deferral. Because when you go into med school, they'll be on deferral until you come out. And I don't mind if they grow a little interest and they sit there during that time while they're on deferral.

None of that bothers me. What I don't want to do is add med school debt to this. So you're going to med school debt-free, and by the time you get to med school, you're going to be debt-free. Oh, and since we put the student loans on hold, we're going to pile up some cash, which is going to help the debt-free journey through med school. Then once we get through med school and residency,

you'll be making $50,000 a year, probably something like that. At that point, you probably can start to attack the student loans again okay that makes sense yeah oh yeah makes sense that that was my worry i was like should i try and knock him out before i go to med school but i was like i don't think i can work anymore yeah i don't think you've got the income to do it it doesn't sound like uh yeah with uh i make 43 000 a year with my full-time job and then with the freelancing and tutoring it brings in about 2 000 a month another 24 so we're dealing with 67 000 and that just you know that's not going to get 100 000 paid off plus your other debts in 18 months oh yeah it's yeah it's gonna i've been able to knock out a lot with the credit cards and car.

Exactly. Yeah, I think getting rid of those is really good cleanliness for the situation. But, yeah, I'm going to school, and as long as you figure out a way to do it without adding any debt, I'm in. Let's do it. Sam is with us. Sam's in Nevada. Hi, Sam.

How are you? Hi, Dave. Thank you so much for taking my call today. Sure. What's up? My wife and I are on baby step two currently, and she's been very gracious with me dealing with some of my stupidity of accruing some debt. And right now we're paying off about $40,000, including both of our vehicles.

And my question is, my previous employer, I have an annuity through them, which ended up being about $9,000. And I wanted to see if I would be better off rolling that into an IRA or something like that, or to cash it out, so to speak, to pay down the debt even further. Is it in a retirement plan? It's not in a retirement plan now. It's just, I mean, technically maybe that's what it's considered. I just know that it's an annuity, and they told me that the value of it is about $9,000. Okay. Well, if it's in a retirement plan and you pull it early, you will get the annuity surrender charges,

and you will get hit with penalties and taxes if you take it out. In that case, we definitely would roll it to an IRA, a traditional IRA, and not have any taxes on it. I don't want to get hit with losing a third or a half of this money to the government with taxes and penalties. If it is not in a retirement plan, you can't roll it to an IRA. Okay. It has to be under the cover of the umbrella before you move it to a different umbrella. Okay. So if it's out in the open, I'm just cashing it out. Okay.

And use it on your baby step, too. So what you need to find out is that. And actually, a SmartVestor Pro can help you do that if you want. Just click on Dave Ramsey. Click on SmartVestor at DaveRamsey.com, and it will drop down a list of the SmartVestor Pros in your area, the 1,200 or so folks that have been interviewed and vetted by the team here at Ramsey Solutions.

And you pick one of those to work with. You sit down with them. They can look at the paperwork you've got and help you ascertain if this is inside of a retirement plan currently. And if it's inside a retirement plan currently, then you need to roll it to an IRA. If it's not, then I probably would cash it out. Look and see what it is, and they can give you detailed advice once they get the details out. The problem is with an annuity, there's so many variables in the discussion that it could be or couldn't be and whether to keep it, whether or not. All that kind of stuff leads into that.

So, hey, good question. Well, our debt-free degree scholarship giveaway is happening right now. Together with our friends at Speedy Prep, we're giving away $10,000 in college scholarships. High school students can enter for a chance to win one of three scholarships. I think today is the last day that you can sign up for that, if I remember right. And go to DaveRamsey.com slash scholarships and check it out giving away a five thousand and two twenty five hundreds we're actually gonna do our part to help with this

student loan crisis ten thousand dollars of our money going to you again no purchase necessary go to Dave Ramsey dot com slash scholarships and I would register today if I were you because I'm pretty sure today's the last day I have to go back and look it up but i'm pretty sure this is the cutoff this is the dave ramsey show Under the moon I saw you So soon you'll be gone Tommy is with us in Minnesota. Hey, Tommy, welcome to The Dave Ramsey Show. Hey, Dave, it's a pleasure to speak with you, sir. You too, sir. What's up?

So, a little bit of background. I work for a family business that's owned by my father-in-law. He's going to be retiring in the next couple of years. And basically, it's a delivery company, and I run the Minneapolis branch for him. He's up in Duluth. And we're getting to the point now where we're needing to upgrade in space. We've run out of space basically for the warehouse down here. And so we're looking, I'm, I've been looking for places to either lease

or possibly purchase. And, uh, my wife and I have been following your plan since February. And so we're totally on board with getting out of debt and everything. I'm wondering if there's anything in your teaching that kind of lines up with, you know, how you treat a mortgage, but except for businesses where, you know, the purchase specifically of a building might fall in lines somewhere with your teaching. Is there anything like that? Nope. I don't buy real estate other than, I don't buy anything with debt, but I don't recommend you buy any real estate except a home as a possibility with that. Here's the problem in business. Okay.

You've outgrown the building. Is that what you're telling me? Yes. And if you buy another building and you outgrow it, now you have a building with a mortgage on it that you can't use right now all you are doing is leaving a landlord in your rearview mirror so the thing about business is business that makes the money not the real estate if you want to be in real estate investing save up some money and buy some investment real estate but very few businesses

you you've got to be able to very carefully forecast your needs in order to buy and you need to have the cash so i'll tell you what i did as an example okay 19 years ago i moved into a 55 000 square foot office building as a tenant um i leased it leased uh two of the four floors or one and a half of the four floors with an option to expand through the building any first right of refusal as any tenant left as a tenant i also took an option to purchase the building for $5 million for five years. Okay. An option to purchase it. But I didn't have $5 million at the time. Sure.

So I couldn't buy it because I don't borrow money. But I had the right to buy it for five years for $5 million, and we were the tenant. During that five years, we filled that building up, uh it became worth about 12 million dollars and i scratched and clawed and got every nickel out of the couch and closed on it at five million okay we were able to close on it at the late at the at the 11th hour just to get in under the under the edge of that option but you know it was a good it was a good move because suddenly my net worth went up seven million dollars that day right i bought it5, and it was worth $12, right? Oddly enough, though, it was almost full when I did it,

and so I was right back in the soup, right? So we ended up renting buildings all around that area and began saving money during that time. And so now, 19 years later, we just moved into another building that we did pay cash for and dad blamed fit in about full and so i'm breaking i broke around this week on another one next door and so my brand new building's got a mud hole to it next door to it right now because we're going up again and so uh the the thing is the only good news in all of that is i had the cash all along the way

had i not had the cash i would not have done it uh but but the truth is it my the emotions you experience during that and i've personally experienced them i'm telling you is i'm suddenly going crap i've got this really nice building and we're moving out of it right the old four-story one that's worth it's now worth almost 20 million okay and and so you know and so my my real estate dave starts to be at odds with my business dave and the business makes me a lot more money than the real estate does and if you're not careful that the tail will wag the dog you start worrying more about the real estate and, oh, well, we need to conform the business to fit the real estate. No, by God, the real estate needs to conform to fit the business because it's where the money is. Right.

So do you recommend trying to – I would rent in your case. – decide that cash? Yeah, I would rent in your case and I would – with an option to purchase. Because you probably got a large warehouse space, don't you, with delivery? Yes, that's correct. Yeah, and so it's fairly inexpensive square footage compared to office or retail or something like that.

Right, that's true. I love warehouse as an investment. I think it's a great investment for you. But if you found a nice office warehouse that you guys could do what I did with that first building and you leased it for a few years with the right to purchase it, during that time you take over, start running the business, and you pile up the cash and dig the nickels out of the couch and you pay cash for it, even if you outgrow it, it's okay.

You own it. It's paid for. Right, right. And it's about the only way you can fight through the emotions of, well, crap, we've got to move.'s it's double crap because i own the building you know i'm moving out on myself and so i'm not got vacancy or i need to sell the building now the good news is the old building's almost full almost got it leased up and so it's turned out to be a great investment it's all good ending the story, but it's not always a good ending to the story. You open a restaurant and you end up closing it and you own the building. You got a

really crappy piece of real estate because you know what goes in where a failed restaurant was, don't you? Another restaurant that's probably going to fail for probably the same reasons. So you end up with crappy real estate or you buy, you know or you buy a little small office building that's a couple thousand square feet to put your little insurance agency in, and then you outgrow it. You've got this tiny butt little piece of property now you're trying to lease as a commercial property. It's very difficult. So you end up with all these weird pieces of real estate

because you thought you were in the real estate business. Be careful, business people. I love real estate as an investment. I made a lot of money on it, but I made a lot more money running Ramsey Solutions. And don't get confused as to which one's the most important. End of speech. Thanks for the call, dude. All right, up next is Matthew in Tennessee.

Hey, Matthew, how are you? Hey, Dave, how are you doing? Better than I deserve. What's up? So I have a question. So my wife and I, we live in a rent-free house that her parents own that is around two hours away from our job. I guess a two-hour round trip. So my question is, should we move out of this rent-free house in order?

Right. You have a two-hour commute? Yeah, both ways. I mean, hour each way. A round trip. Yeah, hour each way. So you spend two hours a day in the car in order to have free rent. Where do you work?

So we work at a hospital in Marable. And where do you live? Oh, in Teleco Plains. I work at a hospital in Maryville. And where do you live? Oh, in Teleco Plains. How is Teleco Plains two hours from Maryville? It ought to be 35 minutes. Or an hour from Maryville. It's not an hour from Maryville.

It's around 50 to 55 minutes, give or take, on traffic. But the reason why we're still in there, she's a nurse practitioner at school right now, and we're completely debt-free. We paid off $40,000 worth of school loans, and we saved another $40,000. So we didn't know if we could just kind of get by for the next 18 months in order to save more money than buy a house when she's done or move closer now to have kind of a better lifestyle and make it easier for her. Okay, this is a weird call because my wife was born in Madisonville, and I've driven that road all my life.

I was born in Maryville, okay? And I just can't see this taking an hour to get there. My mind is blown because 411 is in great shape. You ought to be able to run up through Greenback and be there in 20 minutes. Right. So we're probably 15 minutes from 411 down in Teleco Plains. Okay. So you're back in the country.

Yeah, yeah. You're back in the edge of the mountains. Way back in the boonies. Yeah. All right. Banjo music and all. Okay. I got you.

All right. Cool. You know, I'm not driving an hour, especially not out in the country like that. I would move to Maryville and get you a little apartment and get through this stage of your life and get your life back. All right, cool. You know, I'm not driving an hour, especially not out in the country like that. I would move to Maryville and get you a little apartment and get through this stage of your life and get your life back. Rental property in Maryville is just not that expensive. For those of you that are Yankees, it's spelled Maryville. But if you're from there like I am, it's pronounced Merville.

So there you go. This is the Dave Ramsey Show. Madeline is with us in Texas. Hey, Madeline, welcome to the Dave Ramsey Show. Hi, Dave. I'm so happy to speak with you. Thank you for taking my call. My pleasure. What's up?

I was married two weeks ago today. My husband will retire from the Army after 25 years tomorrow, and I would love to hear what you think about the Military Survivor Benefit Plan and if that's something that we should take advantage of. Wow. Well, tell him thanks for your service, his service. Thank you very much. And congratulations.

You said you were married two weeks ago? Yes, sir, in Jamaica. Wow, congratulations. Thank you. All right. Does he have any money, like a nest egg? He does. He has a little one.

I also work for the Army. I'm an Army civilian, so I'll have a decent pension when I retire. I have TSP. He has some investments and savings, and we're on track to have our home paid for within the next 10 years. So we're in pretty good shape. Just really need to know whether we should invest this $225 a month for me to get about $1,800 of his $3,500 pension. How old is he? He's 43.

Okay. Is he in good health? Yes. Okay. I would rather you take more home and invest the difference now and use some of that to pick up a term life insurance policy to offset the fact that you're not going to get $1,800. Okay. Mathematically, you'll come out better. Okay. And so the $1,800 is the survivor benefit? Yes, sir.

And you said $230 difference, so it's $2,000 and some change is the non-survivor. Is that right? I'm sorry. So if he does not take the survivor plan, what does he get? Nothing. So right now his retirement pay is roughly $3,500 a month. So we would be paying $225 a month so that when he passes, we don't lose all of that.

I would get $1,800. Okay, so it's reducing it to $225. Okay, so what I'm saying is the $225 would be better spent to buy a million-dollar life insurance policy on him, and it's a lot cheaper than that, by the way. It's probably going to be more like, it'd probably be under $100 if he's healthy, and then use the rest of that $150 to invest in good mutual funds. The combination of that investment and that life insurance will cause you to have more than $1,800 if he lives a while. Okay, I should mention it does adjust for COLA,

so it will be a little bit higher than $1,800. Yeah, but it's not substantial. But the point being that you will make more on the investment than that, and you've got in the interim until the investment gets big enough to provide you the $1,800, the insurance would. Okay. So something like about a million-dollar policy, something like that, and investing the rest of it in a mutual fund. Mathematically, you'll come out ahead over a survivor benefit if he lives a while.

He's only 43. He's in good health. So, I mean, if he lives to 75, it's a slam dunk. If he lives to 50, it's not. You would have been better off to have taken the other deal. But either way, you'll be protected this way, and you're betting on him living. That's what it's coming down to. I'd rather have that bet than the other one.

All right, Denise is in New Jersey. Hi, Denise, how are you? I'm doing great, Dave. Thank you so much for taking my call. My pleasure. How can I help? Well, I'm calling you because, first off, a little background information. I'm a new listener.

My husband and I love your plan. We're very good sell-intents. We make about $91.50 a year. We're almost done with Baby Step 1. We should have that completed in about two weeks. First part of Baby Step 2, probably by the end of the year. And then from there, we only have two major deaths. But my question is regarding my in-laws.

Right around the time that we found your plan and we decided to start working your plan, my mother-in-law had a situation. Previously, she was living with her daughter and her daughter's children and her son. The daughter moved out because there was some family drama and left her children behind with my permanently disabled mother-in-law, which means she lost some major income in the household. My brother-in-law doesn't really earn a whole lot. So between her fixed income and him, they're trying to survive. And my husband and I are thinking of moving into the home. Actually, we plan to move into the home, but my mother-in-law wants to deed the house

to my husband. And then after deeding the house to my husband, we still leave one third of the home to her son who is still living in the home when she passes. I don't know if something like that is even possible or legal um she's looking at me and my husband for advice because we're the only one in the family that wasn't involved in the drama is the house paid for yes it is what she's going to do is legally possible i wouldn't do it though okay here's why there's so much stink in the air in this story there's so much drama in the air in this story and you're moving into dramaville and then she wants to make it permanent i don't think i want a permanent deed to dramaville

if you want to move in there for a little while see if you can straighten this place up and then move back out that's fine but you're subjecting your personal family to a toxic situation aren't you okay yeah because this guy living there is dirtbag that's why his wife left am i wrong that's why his wife left. Am I wrong? No, you're spot on. Okay.

I'm just reading the mail here. I'm not sure I was reading it right, but I'm a hillbilly, and that's how we process stuff because we know what it looks like, okay, because we do drama when we're hillbillies. Man, we can create some drama now, and it's put the fun in dysfunction baby you know and so uh uh that's what's going on here and i appreciate you're all sweethearts and you're wanting to help the family and you're wanting to help mama get along and all this but this is a mess and the last thing i want to do is make a permanent thing of the mess so uh no if you want to move in there you already made the plans to move in there if you want to move in there you already made the plans to move in there

if you want to move in there that's your decision i personally wouldn't but if you want to i understand your sweetheart you're wanting to help and that's nice for god's sakes don't make it permanent don't get a deed to dramaville um let her keep the deed to that and uh if she wants to leave it to you when she dies that's okay but i. But I don't want you to live there for a decade. That sounds like hell on earth to me. So you do what you want to, kiddo. But, yeah, that's me. I love my kids.

The best way for me to not care much about them is for them to move in with me. They're grown, and they should be out there in the world making their way. And the only time they need to come over is bring the grandbabies i love y'all but y'all i love y'all a lot more to distance all right ryan is with us ryan's in kansas how are you ryan good how are you better than i deserve how can How can I help? Yeah, my wife and I are both in education. We have no debt right now, so that's awesome. I don't plan on building that at all. We fill out our pension every year and give it off IRA,

and we're kind of looking at what to do next after that. Our district has 403Bs and 457. I would do 403Bs if they've got them, if they've got a Roth 403B, especially if they have good mutual funds. You say you've maxed out your Roth options already in individual Roths? Correct. Both each of us have for the last three years. Good. Good.

Okay. Do they offer a 403B Roth? Yes. The only thing is the expense ratios on them. Are the expense ratios on the mutual funds? No, for the 403B. 403Bs don't have expense ratios. The mutual funds inside of them might,

but 403B is just a coat that wraps around an investment, and it keeps it warm. So there's not a big 403B fee. There might be on the mutual funds inside of it, and that may be what you're nervous about. But if you don't have good options in a 403, I wouldn't do it. But if you got good options in there, I would. Hey, check out.

If they got good returns, you can tolerate some higher expenses if you need to. This is The Dave Ramsey Show. Hey, it's Kelly, associate producer and phone screener for The Dave Ramsey Show. If you would like to do your debt-free screen live on the show, make sure you visit DaveRamsey.com slash show and register. We would love for you to come to Nashville and tell Dave your story.