The Ramsey Show - App - Don’t Do the Right Thing in the Wrong Way (Hour 3)

Episode Date: March 2, 2022

Dave Ramsey & Dr. John Delony discuss: Sometimes you can do the right thing with money in the wrong way, Getting pregnant with twins when you already have three kids, When you can afford to self-insure. Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6

Live from the headquarters of Ramsey Solutions, 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. I'm Dave Ramsey, your host, Dr. John Deloney. Ramsey Personality is my co-host today. Open phones at 888-825-5225. You jump in. We'll talk about your life, your money, your relationships, your mental health, your job, your career. It's all right here on the Ramsey Show. Kevin is with us in Dallas to start off this hour. Hi, Kevin. How are you? Hey, sir. I'm doing great. How are you? Hey, sir. I'm doing great.

How are you doing? Better than I deserve. What's up? Yes, sir. So my question I had is my wife and I, we are debt-free. We don't have any payments or anything. And so we are currently trying to retire with 15 percent being put away but we're wondering how much more we should be trying to do. Are your house paid off too? Yes sir. Oh then 15 percent

doesn't apply that's only until you get your house paid off. After your house is paid off you should max out all your retirement options because you should have plenty of money left over after that to still have fun. Okay. So you got a 401K? Yes. So my wife has a 401K. I have one, too. Max them both and max out two Roth IRAs. So max out two IRAs and both of our Roths. Yep.

All in good growth stock mutual funds. What's your household income um so we bring in about um 160 between my my wife and i how old are you um 26 oh you're gonna be so rich it's unbelievable grief kevin congratulations paid off that early man way to go thank you so so much really um i think it was just because the way that my parents raised uh raised my siblings and i we i i had always been um kind of a saver but we just got this little house the the not nicest looking house on the street in a pretty nice nice area of town and then just kind of fix it up with my dad and i and um got married just had a uh baby like a few weeks ago so way to go man what's this house

what's this house worth so currently um i think we're thinking it's about 100k or so so it's um not too bad for a starter home i yeah kevin you've done a really really good job of getting started here yeah i would max out your retirement and then I'd start saving some money on the side in addition to that and a mutual fund to move up in-house and pay cash for the move-up. You've just done such a great job getting started because you have no payments in the world. You make a lot of money and a brand-new baby. Man, you just got life by the tail.

Well done. Well done. And high-five to your dad and mom. Man, great job. And make sure you pass this along to your little one too. Yeah. All right, good for you. This is legacy change stuff right here.

Well done. Denisha's in Austin, Texas. Hi, Denisha. How are you? Hello? Denisha? Hi, Denisha. How are you?

Hi. I am fine. How are you? Better than I deserve. What's up? Okay, so I have a little situation. Anytime somebody starts a call with, okay, and have a situation, it's going to be great. Go for it. Okay, so I just, I have a lot of credit card debt, a lot of it.

And I'm in school, and I just got a new job. Very, very proud of my job because going to school for accounting, I've been presented a lot of opportunities, and it's been really great for me. So I'm pretty happy. What are you calling about? You didn't call about that. I'm sorry. No, I didn't call about that.

You're avoiding it. Yeah, what is it? My spouse is very upset with me. Why? What did you do? I just got my tax return, and I paid off all the credit cards. And why is he upset that you're debt-free? Because we're broke, and he said, hey, we can just pay the minimums.

So why in the world would you just pay the whole thing? Because we don't have a lot of money. So he's like, you just use all of our tax return to pay all the credit card debt. Okay. How long have you guys been married? Seven years. How old are you? 30.

Okay. Does he work? He's disabled. He's fully disabled. Okay. What's work? He's disabled. He's fully disabled. Okay. What's the nature of his disability? Bilateral, APG. Okay.

Wow. All right. And so he has disability income is all he has coming in? Yes, sir. Okay. All right. So the problem is not that you paid off the credit card debt or that you didn't pay off the credit card debt. The problem is that the two of you are not working together.

Yes, sir. And so he should never be surprised by a money move you make because you should have both decided the money move together. You actually did the right thing in the wrong way. Yes, sir. That make sense? It does make sense. So his opinion is wrong, his anger is right. Yes, sir.

That make sense? Yes, sir. Why did you feel like he had to go behind his back? Did you know what he was going to say? I knew he was going to say that we shouldn't have done it because he said, we can just pay the minimums. That's all they asked for. And I said, but we're trying to get a house.

We're in my dad's house. He wants us out. Not because he doesn't like us here. But because he wants you to be self-sustaining and have dignity. Correct. So he's trying to get us to that point. And so that's why. Yeah.

It's hard, huh? Marriage is hard? You all struggling? We're really struggling. I'm so sorry. We have a disabled child who is in and out of the hospital as well. So she's our blessing, but it's just hard in that way too. So I've walked alongside folks in your situation.

Tell me if I'm on the money or if I'm missing the boat here. That in many ways, you are both a wife and a mother. You run the household, except when your disabled husband leans up and says, well, I want to be a part of this decision. So you're responsible for everything. You need to be out running, doing everything, except when I want to weigh in. Is that fair?

That's absolutely correct. So you carry everything, including the quote-unquote bad decisions that you made on your own, which are supposed to be, right? So here's what I really want you to do. Would your husband go talk to a marriage counselor with you? I don't know.

I don't know if he thinks that we have any problems. Okay. That tells me that you're not being honest with him. And I know that I don't want to dump it all on you because you may not be safe to be honest, but you got to, because here's what I'm afraid is going to happen. You're going to get a new job and you're going to make great money and you're going to go meet coworkers who are going to light you up. They're going to love you and they're going to fill a new job and you're going to make great money and you're going to go meet coworkers who are going to light you up. They're going to love you and they're going to fill gaps in your relationships, in a relationship needs that you have that your husband hasn't been doing or that y'all have gotten so far apart.

And what's going to happen is you're going to make some, you're going to, what you just did going behind his back, it's going to get worse and worse and worse and worse and worse. And so I want you to find a place where we can start having open and direct conversations. Because like Dave said, you did the right thing with the money. You did it in the wrong way. And I don't want you to look up five years from now and your family's falling apart. Yeah. His opinion was wrong. But his right to be in on the decision was right.

So the two of you need to start making all the decisions together all the time. And you need some practice at that. You don't have the muscles to do that, so you need to get with a good marriage counselor to help you develop that. And yeah, you do have a problem. You have a lot of problems, and you need to work on them.

Get right in the middle. Imagine a world where people never have to worry about money ever again. At Ramsey Solutions, our mission is to teach people how to get out of debt and build lasting wealth. And if that means we have to take on the toxic money culture that says you need debt to get ahead, then we're okay with that. We've seen millions of lives changed, and we will continue to create digital products and services to help people transform their lives. If you want to join me and over 1,000 other team members on this crusade,

we're currently on the hunt for web developers, UX designers, and SEO and content marketing specialists. To find out about these positions and more here at Ramsey Solutions, visit ramsesolutions.com slash careers. That's ramsesolutions.com. Together, we will disrupt the toxic money culture in America and change lives. Visit RamseySolutions is my co-host today. Open phones at 888-825-5225. Jay's in Wichita, Kansas. Hi, Jay. How are you?

I'm good. Thanks for taking my call. Sure. What's up? I'm 36 and my wife's 35. She's a school teacher and I'm a farmer. We've got our house and our vehicles paid for. My equipment's paid for.

All right. Yeah, but we did buy a a farm a quarter ground here a couple years ago and we owe about 180 000 on it um my dilemma is uh i've got three kids i've got a six year old boy a three-year-old boy and a one-year-old daughter and my wife is pregnant with twins so we're uh we're out of room in our house and I've had several contractors come out to look at an addition, and they're all, I mean, it's $180,000 to do that. So, I'm looking for advice. Your house is on your farm? Well, we bought a quarter of the ground.

No, we own the house, but we live very rural. But, yeah, we did buy a quarter of the ground when we owe $180 on it, but the house is paid for. No, I'm sorry. Is your house on your farm? No, sir. Okay. So your house is in a subdivision, or it's a simple city lot, or what? No, we live a long ways from town.

I mean, we're out in the middle of nowhere okay how much acreage is around the home about five acres you own five acres in a house okay because it's a lot easier to move but even i mean even if we're open to that there's there's nowhere to move around here i mean the closest town to us has 300 people and there's nothing for sale, and it's just not an option. And, you know, this old house we've done so much to, we kind of feel like we need to keep moving forward.

Well, I don't. Because you're building another house is what you're doing. Yeah, pretty much. Yeah. I mean, this is basically a, you know, and I'm not sure you're going to end up with anything you're going to like when all this is done. It's very difficult to do a remodel that doubles the size of a house and not end up with a pretzel. Yeah.

Well, yeah, like I said, we've had several people come out and look, and I'm comfortable with them. I'm just uncomfortable with a paid-for house and then, you know, spending that much. But like I said they're moving moving there's nowhere to move i mean that's that's really not an option and we we do need more room okay anytime somebody tells me it's really not an option uh my ears perk up because what you're doing is you're backing yourself into a corner to justify a decision you're about to make that you don't feel comfortable with i kind of think it might be easier to buy a five-acre track down the road and build a house. But wouldn't that cost double what we're doing?

No. Well, I mean, you're going to sell the one you're in. Well, I mean, I guess, but I mean, I've got my shop I work out of. I've got a heated shop in another building and all that stuff that I need to work on equipment over the winter. So build a shop on the new property where you build a new house. I mean, you can

do a $180,000 addition if you want to do one. I mean, there's nothing keeping you from doing it. I'm not really sure what your question is because I think you've already decided you're going to do it, so I guess you're just going your question is because I think you've already decided you're going to do it. So I guess you're just going to do it. I mean, the only other way I know to do it is to maybe difficult to create a practical property that is not impossible to get rid of later because you you design this weird thing that you're 180,000 on

the old house stuck on the side of it so it's very hard to do let me ask you like so let me make sure i'm i'm clear here let's say his current house is worth 120120,000. I'm just trying to do easy math. So he would sell it for $120,000, go build a $300,000 new house. With a shop? With a shop. So we're less talking about dollars and cents here and more. You're going to end up with a wonky, donkey house that you can't sell. Because you have to. If you're not careful, you will.

I mean, it can be done, but it's very difficult. It's a lot easier just to build. Absolutely. Just start over. Yeah. Yeah. A lot of people do teardowns just to the reno's and i got a hint that he really like they've put some some sweat equity in this house and so we are forced to stay here and that's what i want to press you're not you're not forced to stay anywhere all right there's nothing there's nothing holding you there except your emotions all right and so um you need to really decide you know and and if you keep a house because you have a heated shop that was a dumb idea yeah because you can build a heated

shop that's that's a cheap ad that's not that's not an expensive ad the expensive ads all these bedrooms and baths for all these kids so um but if you want to if you want to do the 180,000 renovation you can do that too but you're going to be back in debt and you got a mortgage and you're going to have to pay the mortgage off then and you put it on 15 year or less that's more no more than a fourth of your take-home pay and you get it paid off as fast as you can it's very difficult to do emotionally to go back into debt but you're going to go back into debt either way if you're going to have a house because apparently you know you've got a huge family now and a tiny house and so you're going, you're going to make a move some way or another to get a place to put all

these kids. Yeah. So, um, I'd rather get what you want for, for the money. Yeah. I think you'll end up with a cleaner deal by making a move,

but if you don't do the renovation to the renovation, just be careful that you do it with a lot of planning and really think through, you know, cause I've been in houses where you have to walk through one bedroom to get to the other. Absolutely. You know, and this is just poor design is what it amounts to, and it's just weird.

And, you know, the old saying, and it's not because he's calling from a country thing, but the old saying is you build it like a country house, you just keep adding on rooms. And, you know, instead of beginning with the end in mind, with a blueprint from the top down, and you just, there's a room over there, and then there's a room over there, and then there's a room over there, then there's a room over there and then there's a room now there's an addition over there and it just that's a that's a classic saying and there's a reason it's a proverb uh pat's in minneapolis hi pat how are you hi dave how you doing better than i deserve how can we help that's good i've got a

question for you i heard an ad for the on your show just now about term life insurance, how we should get it until you build a certain amount of wealth. At what point, what level of wealth are we talking about? When can I get rid of my life insurance? Well, self-insured, the definition of being self-insured for life insurance purposes is if you die does your wife have enough money and investments left to take care of life and not have a substantial change in her situation and so you know uh usually that means you've got everything paid off the kids are are grown and gone, and, you know, you've got half a million to $3 million in your mutual funds

or something like that. That's usually what it means. But you can just start asking yourself the question, if you died, how old are you? 52. And what's your net worth? My wife's 53. We have 3.1 in assets. Okay.

Any of it income producing? Do they make money? No, it's just Roth IRA. Okay, so it's all in retirement. Yeah, it's all in retirement. Okay, so if you died between now and 59 1⁄2, she would have some of that as an inherited IRA that she could access, and she'd be fine.

Well, she's the one making the money okay well then if she dies would you be okay yes that right now I think you guys can live off of the income created by three million dollars or two million two million on each other you don't need it what's that you don't need it that's that's what i'm wondering and she's she earns uh our combined well she earns 330 right now the way you could the way you could determine this is to say if she passed away could i use some of those mutual funds and the income off of them to live a very nice life? And the answer is yes, you could.

Without any insurance. And if you died, could she, with her income, yeah, she can make it with her income if she didn't even have any mutual funds and she's still got the same mutual funds to work for. Okay. All right. have any mutual funds and she's still got the same mutual funds to work for okay all right

you mind if i ask you one more quick question uh if it's super quick you're running up to the clock go quick okay uh we owe like 290 on our house and i only have about 110 in savings for i dig up some money and get that sucker paid off. That's the answer to your question. Paid off. We'll be right back. 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 at 888-825-5225. Tracy's with us in Seattle. Hi, Tracy. Welcome to The Ramsey Show.

Hi, Dave. Hi, Dr. John. Hey, what's up? I've got a question for you. My husband and I are having a bit of an arm wrestle about this. In May, I turned 62. In September, my husband turned 65. And in 128 days, he's counting, I retire. I am like so excited.

I'm spitting bubbles. What I want to know is when can we start drawing Social Security? What we're living on now is his pension and my paycheck, which net is about $55.50 a month. And then in August, I'll get my first retirement pension, which will be gross, about $3,100, and then after taxes. And my employee contribution from my retiree health and his supplemental insurance will come out of my pension check. So starting like August or September, in September, his net pension is like $2,250. My gross pension is about $3,100. So I'm, and I'm not sure what the net is going to be on that. So when should we start? And we're not drawing anything from his 401k or other retirement resources we've got.

How much is in your nest eggs? Total net worth between our house, which is paid off, his 401k, my deferred comp, savings, etc., we're right between probably 2.9 and 3.1. Way to go. You've done such a great job. Congratulations. How much of this did you inherit?

Just less than a year ago, inherited about 300 000 so you were already making we were already millionaires we were worth about two between 2.6 and 2.7 when my mom passed away yeah wow you've done so well congratulations very done. So the bottom line answer is this. It doesn't matter. Social Security doesn't mean beans to you. You've got $3 million. You can do whatever you want to do. It doesn't matter.

Now, if you want to have a math discussion just for the theory of it and the fun of it, Social Security dies when you die. And it's a negative rate of return. The money you put into Social Security, you will never get all of it out. Right. So you might as well get all you can get as fast as you can get. So I take it early and often and just throw it into an investment if you don't need it. Yeah, and the crazy thing, to add it into the mix,

my husband's thinking of going back and getting a job. And it's like we don't need him to be working, and here I am on the verge of retiring. None of this matters. Here's the thing. Social Security, little bitty amount of money, $3 million, a lot of money. Your whole life is governed by the fact that you have the returns on $3 million to live out the rest of your life in style with incredible generosity and with incredible enjoyment.

And if you'd never got a Social Security check ever, it wouldn't affect this discussion. If you get one, it doesn't affect this discussion. It's a mathematical discussion is all it is. It's just like a little math riddle is all it is. But it really does not affect your life because of how great a job you've done building wealth. You did what you're supposed to do.

You didn't depend on social insecurity. Thank God it's not 50% of your income or 70% of your income. It's 1% or less than 1% of your income because your income should be $300,000, $400,000 a year off of these returns on these investments, you know, and so $200,000, $300,000 a year. And we're talking about, you know, Social Security is going to be nothing. It's nothing. So it's a freaking joke, which is what it's always been. And by the way, a lot of people retire and then a few months later say,

I'm going to go get a part-time job or I'm going to go back and do something. It's not always because I need the money. In fact, it's often not because I need the money. It's because I miss the social engagement. I miss the purpose. I miss doing something that I love, the reason to get out of bed in the morning. So I would knock on that if he wants to go back to work. I'd have a broader conversation about what y'all's life is going to look like together when you retire in exactly 128 days, right? Yeah, isn't that fun?

That's fun. You've done such a great job. Well done. Well done. So I would take it all as quickly as I can get it, but it doesn't matter. So I'm not going to have a big arm wrestle over it. It doesn't matter.

Thank God. The reason it doesn't matter is because you built wealth. I think we can all tell that in an arm wrestling match, she would win. Rachel's in St. Louis.is hi rachel how are you hi dave thank you so much for taking my call sure um i just have a quick question um my husband and i were in our mid-50s our kids our three kids are out of the house the only debt we do have currently is is our house we owe 130 on that we have 180 in savings 35 in our checking so basically about 210 and about 400 in retirement why have you not paid off your house well we're getting there i'm he's coming around why were you

why you have to get there why don't you just do it? That's what, that's what I'm wanting to do. Cause I know that's what, what you always advise. Well, the only reason I would advise it is it's smart. Yeah. Why does your husband not want to pay off the house? Our financial advisor was telling us, she's encouraging us to take that 130. And put it with him where he can make a commission. Yes, of course.

Yeah, I see what you're saying. Now's the time to buy. Okay. Yes, new time, new financial advisor time. They do not have your best interest. They're trying to pad their portfolio. I gotcha. Okay.

Because my husband is the main breadwinner. I teach preschool, so mine's supplemental. He has a base salary of $75,000 plus bonuses, so he can average about 140 to 175, depending. What does that matter in this discussion? Pay your house off today. Okay. Have a party.

Congratulations, you're debt-free. It doesn't matter. Your opinion is not invalid because you teach preschool. It actually makes your opinion more valuable. Okay. Because you put up with small humans that are crazy. All day, and their their parents which are worse yeah i think because that just that security of thinking you have that and i mean you want

security have a paid for house nobody can ever take it from you ever ever ever ever it's yours yeah okay listen here's the thing here's the thing if you fire your financial advisor and get one that actually isn't have, that has your best interest at heart, and you pay off your house, and you just discover that it's a horrible experience, you can go get you a mortgage. Okay. Go take $130,000, yeah, home improvement loan and invest that money. There you go.

An equity loan. This is how that works. Yeah. don't pass go so um yeah and here's the thing we're probably exaggerating a little bit possibly that the financial advisor is not just trying to pad the portfolio he's probably one of these fools that actually believes that you should stay in debt on your house because you can invest and make more money they're looking at they're saying i can earn you 10 and your your your apr is three percent why would you do that and they left out common sense and risk and they left out the toll on your relationships the toll on your body the toll on your body, the toll on when there's a pandemic. I'm looking over my shoulder.

You know what I paid for a house? It's one of the building blocks of wealth in all the data that we have from real millionaires, not financial advisors with an opinion, but from real millionaires. Pay your house off. They pay off their house, and they build their 401ks in retirement. That's what they do. All the data says that. And so he might not be just trying to rip you off.

He might just be dumb. But either one's dangerous. Thank you. Our scripture of the day, Colossians 1.13, He has delivered us from the power of darkness and conveyed us into the kingdom of the son of his love francis bacon said in order for the light to shine so brightly the darkness must be present well many of you have been filing the taxes with the same software every year but you're sick and tired of the add-on fees you're sick and tired of the ads trying to sell you debt the whole time you're trying to do your taxes and you figure out that you were told it was free, but it's really not free, and by the time you realize it's not free, you put too much time into it,

and they're making a killing off of you. And we think you deserve better, and that's why we're offering Ramsey Smart Tax. You can file your taxes online without paying more than you were told. Ramsey Smart Tax includes every form you need with no hidden fees, no surprises. We even have a promo code right now that you can file your federal taxes for free. And if you'd prefer to have priority support and extended audit protection, you can go with the premium version for only $20. Ditch the other guy's surprises and ads and save on your taxes go to ramsey solutions.com smart tax get started that's ramsey solutions.com smart tax margarito is with us in san antonio

texas hey margarito how are you uh good afternoon sir i'm doing good sir uh thank you for taking my call sir sure What's up? Recently, we're going through a transformation from the company that I work for, sir. It's been purchased by another company, sir. And my question is, I'm wondering what to do with my 401k, sir. I've got different options to either stay on a 401k or immunities which i don't i don't think you like or get uh get like in a traditional ira or a Roth IRA i'm i'm confused i don't know where to go okay you need to roll it you need to roll it to a traditional ira in good growth stock mutual funds. We recommend four types, growth, growth and income, aggressive growth, and international.

And it's called a direct transfer rollover. And what that means is if you'll go to RamseySolutions.com, click on SmartVestor, you can find a SmartVestor Pro right there in San Antonio that will sit down with you, someone we recommend. We're not in the investment business, but these are people that do things the way we teach with the heart of a teacher. You can sit down with them, and they will teach you, and you will pick out the mutual funds,

and they move directly from your old 401K, not a check to you, but a check directly into the new IRA mutual funds. If they send the check to you, they have to withhold on you, and you don't want them to do that. Okay, yes, sir. And that was my question, because I believe on the Roth IRA, they wanted to charge me about 20%. Yeah, if it's a Roth IRA, if there's a Roth IRA, your taxes are withheld. They withhold 20%, but your tax bill might be more than that, and you don't want to create

a tax bill here. We just want to roll it and get it away from the old company and get it into your control. That's all. It's just a regular, traditional IRA. There's no taxes if you do it the way I'm talking about. Okay. And the other question, the new company, they are going to be offering a 401K. Should I roll it over to them?

No. Just no. No, you should do what I just told you to do. Okay. That is my question, sir. Thank you very much for taking my call. Thank you for listening, sir. We're honored to have you.

Open phones at 888-825-5225. Michael is in Virginia. Hey, Michael, welcome to the ramsey show hey dave thank you for having me i appreciate it sure i have a question um i have a there's two um like deals in my life i'm debt i'm not debt free i my 401k like two years ago for $14,000. I was wondering if I should sell my car and just pay off the negative equity, would it be about $8,000, and take out a personal loan for the 401k? What kind of car is this?

It's a Dodge Challenger R2 with the Hemi. Have you looked it up? Are you sure it's $8,000 upside down with this current market? It may be even. Yeah, you're right. It could. Well, yeah, that's just if I give it to a dealer. But I think if I do it by myself, I could break even.

Well, let's do it by yourself. Why are you giving up $8,000? I'm just thinking it'd be easier but yeah eight grand i can get easy i can do hard for eight grand what do you make a year yeah okay i made um i got two jobs all the government like 110,000 yeah you don't make throw away eight thousand dollars money yet you got a ways to go, man. Okay. Yeah, and, yeah, this truck was fun while it lasted. It's a cool truck, by the way. But, yeah, it needs to go bye-bye.

Okay. Okay. And the 401K loan, I know I shouldn't have did it. I did it, let's see, like three years ago. I got things like two and a half years on it that come out every month. Or you can pay it off in one fell swoop once you have $14,000 in your bank account. Okay, so just save up the $14,000. As fast as you can.

As fast as you can. And now that you don't have a $700 truck payment, that's going to be easier. Okay, okay. Now, what are you going to do for a car? I live in Arlington, and my job, I could catch a Lyft, and I have a scooter, like a scooter that's paid for. And I was doing the math with the Lyft. If I do it, I'd be paying maybe like $400 a month. Yeah, I think you need to get you a little car of some kind, dude.

I think you need to save up some money and get you a three or four thousand dollar car and i think you can do that pretty quick once you get rid of the truck you're so used to a car payment you don't even know how great life's going to be when you don't have one and you don't want to switch a car payment for a lift okay yeah and going from a dodge hemi to a scooter i don't know something's wrong michael you can't see it but dave is actually weeping at the desk right now this is hard i got even i can't ask you to do that dave ramsey asked you to sell your children but he can't have you go from a hemi to a scooter yeah yeah and sell this car do the hard work you're gonna have to drive some knuckleheads around get you quickly get you some money saved and get you a little paid for car

and um that'll get you around and then you're gonna have you can get rid of the 401k loan then save up some money build your emergency fund then move up in car with cash yes and get you a little nicer car with cash a little bit later on so two years from now three years from now you're driving a twenty thousand dollar paid for car and that's going to be just fine paid for truck that's going to be just just fine you'll buy that uh you'll buy that hemi back from some knucklehead who took out a loan to buy it from you this time so just let them let them drive it for a few years as they as they go down in value yeah that's right it's pretty pretty impressive stuff so yeah i just i'm thinking uh oh scooters oh i'm just thinking there's somebody at work that's

had her eye on him and she hears him out of the parking lot the scooter and then one day she finally gets the courage to ask him out and he comes by and ring ring ring let's go honey we're going to whole foods she's just like i'm going back inside i'm out i thought uh this is like a bad tiktok video i thought this was a hemi date this is clearly a uh scooter electric scooter date yeah this is a hold on honey let me pull the rope and start this thing up for us just drive your riding lawnmower yeah will you have primed this uh 10 times for me so i can pull it that'd be fantastic man oh i i'm just yeah here's the thing though when i when you walk in your garage and you see these two things it's like a sesame street moment one of these things is not like the other i know but hey here hey, here's what I love about Michael.

He owned it. When you commit, you will do anything. Yeah, he's ready. He's ready to go, man. You will do anything. We're going all the way. You will even go out. We are scooter level committed.

Dude, that's another level. That's a different level. That may be more than gazelle intensity. There's a level of debasement. Scooter intense here. You know what? I'm ready to go win. I'm ready to go win.

I love that guy, man. He's awesome. That was fabulous. Hey, that guy, he's going to win because he's ready to do whatever, right? I love that. That's my favorite quote of my whole time on the show. Even I won't ask you to do that, man. That puts us out of the Ramsey Show and the books.

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