The Ramsey Show - App - Don't Fret Over Ups and Downs in the Stock Market (Hour 1)

Episode Date: September 28, 2018

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Live from the headquarters of Ramsey Solutions, it's the Dave 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. Thank you for joining us. Open phones at 888-825-5225. That's 888-825-5225. Thank you for being here. Barrett is with us in Gainesville, Florida to start off this hour. Hi, Barrett.

How are you? I'm good, Dave. How are you? Better than I deserve. What's up? Hey, thanks for taking my call. So me and the wife are 25 and 27. We moved from San Antonio, Texas to Gainesville so I could attend law school here.

And I have a full-ride scholarship. We have zero debt. We currently have $50,000 in the bank and about $45,000 in retirement. And we're taking 15% of the wife's income and putting it into retirement. But after we do all that, we kind of have about like zero, not quite zero, but very little for us to have fun with. And so I was wondering how much should we be allocating to enjoying our time here since we're only going to be in Florida for three years.

Is it okay to eat into our savings a little bit, or should we be living like poor college students? It's up to you. I mean, what are your goals and where do you want to be? You're kind of riding two horses at once i mean her career is up and going and obviously she's making some money uh what is her income um she's making about 55 okay and obviously that's carrying the water for you guys right now and so i mean you can take two approaches to it you can say do what you're doing right now and live like you know know, 15% going into retirement,

and that is eating up money that would be used for fun. Or you can just say, you know, we're in a transition time while I'm in law school, and so we're really not walking the baby steps right now. We're just going to be on hold, and her income is going to be used to make sure i get through law school and make sure you know that we enjoy this time here in florida and then when i come out then we'll be with both incomes we'll be game on i mean you could take it either way or you could take anywhere in between if you want um you know obviously the more you live like no one else the more later you live and give like no one else obviously uh but right and so those are just the choices you do um the the point i think the good idea

the good part of this discussion is you're actually thinking about it and whatever you do at least you're going to do it on purpose the the danger of backing that retirement off substantially and is that you might not ever go back to this you know you got to really commit to if we do that so that we can quote unquote have fun while we're here or enjoy our time in florida or whatever the phrase was if you do that you have to really almost write yourself a letter and both of you sign it in blood that says in two years it's game on then you know when you come out of law school pass the bar settle in in the new location okay now 15 and we're walking these baby steps and we're going to do this right i mean if you're going to do it you have to commit to really going back to it

that's the danger of walking away from it is it may uh it may come back you know you may not ever get back in the groove again. That's just the scary part. So you can do either one. You're fine either. You're not going to be broke. You're going to be fine as long as you pay attention. It's all about intentionality.

Hey, thanks for the call. Quincy's in Daytona Beach. Hi, Quincy. Welcome to the Dave Ramsey Show. Hey, Dave. Thanks for taking my call. Sure. What's up? So we just sold a couple properties, and we have about $500,000 in a bank account from the sale of that.

And we want to use that money to pay cash for a home. Good. But we're not going to be buying a home probably for maybe three, four years. Why? And so we're just renting right now. Why? We think we'll be relocating because we sold some properties that we weren't living in. It was a small condo we grew out of, and we had it as a rental. I got it.

And the other one was a rental property. We live downtown. We like our situation now, and we don't intend to be here in this location in three years. So we don't want to buy, like, a primary residence here because we believe we'll be leaving. If that changes, you buy immediately. Right. Okay. So, I mean, you've got really about two years.

You've got to be really, really starting to pack furniture. Right. Okay. So, I mean, you've got really about two years. You've got to be really, really starting to pack furniture. Right. Okay. So what do we do with it in the meantime? What vehicle should we put it in? What's your household income? Like over $300. Okay.

Well, obviously, there's two things you can do. There's no middle investment, okay? You can put it in a savings account, in a money market account. It's going to earn one and a half, maybe up close to two, something like that. And it's going to earn nothing, okay? But it's going to be safe. And you can do that. Or you can put it in some good mutual funds, the conservative type of mutual funds, and it could go up.

And if it goes up 10%, that's $50,000 in a year. If it does that three times, that's $150,000, right, during this three years. But it could go down 10%, so you could lose $50,000. If you can emotionally handle to lose $50,000 in order to get at the possibility of gaining $150,000 over a two to a three-year period of time, you can invest it in mutual funds. Probably something like a growth and income fund is what I would do. Or maybe just a no-load index fund where there's no commission and you just park it.

But you've got to be able to handle it. Financially, you can handle the risk of that losing 10 because you know you could recover making 300 grand it's not going to ruin your life right but but uh but emotionally if you can't then you know you don't take that ride you just let it sit there so you're either going to earn almost nothing or you're going to take a risk of losing 50 to get at the possibility of making 150 on that money during that time and just ask yourself that question the other thing you could do is split the difference you could put half of it in a money market and take the other half and and put it in a mutual fund you know and take the risk and that would cut the

risk in half but it also cuts obviously those returns in half those numbers i'm giving you in half so uh in my situation i could afford the risk and i can emotionally handle the risk so even though it's a short term i might park it and um in some mutual funds but if you call me up you say we make fifty thousand dollars a year this is an inheritance i'm gonna put that in a money market where it's not gonna lose a dime but not make a dime because i don't want you right i don't going to lose a dime but not make a dime. Because I don't want you riding that wave. But you make really, really good money.

Okay. And for the emergency fund, that's also in a money market? Yes. That's not about earning money. That's about protecting the money that earns money. And so that's just insurance. So, yeah, you put your three to six months in just a money market. So it's just a matter of risk.

If you want no risk, go to money market. If you can take some risk, split it in half. If you can take a little more risk, and it's all emotionally, you mathematically can handle the risk. So you could go to, you know, probably just go to an index fund, a no-load index fund. So you've got no commissions. You just pop it in there.

Whatever it makes, it makes. It's exactly what I personally would do with it. But, again, I'm in a position mathematically and emotionally that I can handle that ride. And if it goes way down, I'll be all right. I'm not going to freak out over it. I'll just ride it out a little bit. But I lost all my money in the mutual fund. You know, if you're going to say stuff like that, just put it in a money market and don't, you know, don't get, just don't get in there.

This is the Dave Ramsey Show. Did you know, statistically, when it comes to life insurance and protecting your family, that women are more likely to be uninsured or underinsured than men? This doesn't make any sense. Women make up half the workforce, contribute mightily to family incomes, and in many cases are the breadwinners and take care of their families 24 hours a day. This is one of the most overlooked areas when it comes to financial planning. Maybe it's a relic of the past, but a loss of income or the need to replace family care is equally important for women as it is for men. Single moms, working moms, and stay-at-home moms all need term life insurance.

Rates are actually lower for women, which is why I send you to Zander Insurance. They shop the top term life companies to find the lowest rates available. You can compare rates online at zander.com or call 800-356-4282. This is something every family has to deal with. That's Zander.com or 800-356-4282. Joining me in this segment, Ramsey Personality, Christy Wright, the founder of Business Boutique, equipping women to make money doing what they love. And this has been the big week, and it continues through 8 p.m. tonight central time. This is enrollment week. Enrollment closes at 8 p.m. tonight central time for the Business Boutique

Academy. Big week, Christy. It's huge. It's been so fun, Dave. It's amazing to see these stories coming in and women are, you know, they're joining the academy. They're posting in the closed academy group saying, I'm doing it scared. I'm going for it. A couple women have already been exploring the training videos and saying things like, I've already gotten my money's worth, and I've been in it two days. So it's just incredible. It's been a lot of fun, a lot of energy. And, yeah, so we're excited.

So tonight, 8 p.m., it closes. So we've got a few hours. This is their last chance to get in before we close. And then I'm going to shift my focus and work on coaching them and walking with them and training them step by step. So it's been a fun week. Business Boutique Academy. What is it we're talking about?

What does it include? Sure. This is my online training group. For women in business. For women in business. Or that want to start a business. That's right. And I keep getting asked the question, well, is this for fill in the blank business?

I'm a freelancer. I have an Etsy shop. I'm a professional organizer or an architect or I have a dental practice or whatever. Yeah, you're all in business. And that's what we do. We help you build your business. So some women may want to start their business. And we have a foundational course in the academy that shows them how to start. And then all the other training videos, we have over 100 training videos, teach them how to grow their business on a variety of topics. And then every single week, we're rolling out a new training lesson. And I'm in there coaching them step by step, answering their questions, holding their hand, showing them what to do next. And it's been really, really fun to see the success stories of

women that have been in the academy for the last year and a half since we started. Women are saying things like, you know, I've grown three times as much my business the year before. One woman said I made $20,000 more this year than the year before the academy. So just seeing the growth, one woman, her husband quit his full-time job to go work for her. And so these women are surprising even themselves. But that's what happens when you get the help you need. That's what happens when you have a coach, when you have a trainer right by your side. So it's been fun to get to talk about that.

If you want to learn something, especially learn something new, you've got to have a coach. And you need a community. You need people around you to encourage you and show you what to learn something, especially learn something new, you've got to have a coach. And you need a community. You need people around you to encourage you and show you what to do and cheer you on. You need cheerleaders. Because I've got to tell you, when you try to do something different, there's always some cow standing on the side of the road just chewing, looking at you like you've lost your mind. I mean, when you start a business there's always somebody who secretly wishes they could that want to tear you down that's right and so you need cheerleaders you need some people you know standing up and jumping up and down going you

got this you can do this that's right yes it's scary yes we don't know what to do all the time we do it anyway i've done it for 30 years and uh you got to push yourself out of that comfort zone and bust up and do that and you knowledge and community are the two things that cause you to be able to do the life change, the transformation that you've got to do. That's right. And it's interesting because you also you have those outside people like you were talking about that may not get it. They may not believe in your dream, but you also have the fear in your own head that can be really loud. And that's louder than the turkeys on the sidelines. That's right. I had a woman write in just this week, Emily, that joined the academy, and she said,

I have always dreaded business. I don't have a business mind. I don't have a business background. The mere thought of running a business seemed overwhelming, but I had this dream that I wanted to do something. And she said, just two days now in the academy, I've been watching these training lessons, and you have me laughing and nodding along. I never thought I would actually look forward to learning business. You take all the intimidation out of it and make it fun. And what a great compliment, because that's my heart, Dave, is to take the intimidation factor out of business and show women you can do this. You absolutely can do this. You just need what anyone needs. You just need help. And that's why we're

here. That's why we have the academy. Yeah. The interesting thing is, is that sometimes when people are standing on the sidelines looking at the idea of opening a business, or even if they're running their own business and they're in the beginning stages, or they're stuck at a place where they just need an extra boost, they need some knowledge they didn't have to go to a different level. In any of those situations, the interesting thing is that people tend to think that business people have some kind of special dna gene right or like you have to be like this math nerd or you have to have the entrepreneur gene or you have to dress a certain way or think a certain way or whatever and the interesting thing is successful businesses are run by every type of person on the planet every version of wild animal runs i mean it's it's amazing well

i use that example with selling because i think people have that myth about selling like oh i'm not a salesperson i don't want to be pushy and so on like a salesperson is a certain type of dna it's an extrovert it's a social butterfly it's someone that's a talker i use my example of my husband all the time he's an an introvert. He's quiet. He's steady. But he got me to marry him. He closed the sale, right? Like he was persistent for seven and a half months and he was confident as can be.

And so it's just, you know, selling or running a business is like anything in life. It's a skill that you can learn, like cooking or riding a bike. And that's why we built the academy with all of the training lessons that you need to learn, the foundations to build your business, to grow to the next level. And then we have that customized coaching to say, oh, you've got a weird situation. Let me help you walk through that situation. And really, the best products and services you can put out there is a response to the market and what they tell you what they want. And for two years, people said, I need a coach. I need a mentor.

I need help. And this is our solution saying we're going to help you. We're going to walk with you. And we've already seen the success stories of women absolutely exceeding their own expectations, making far more than they imagined they could. And so it's proven now. It was an idea two years ago, but it's proven now and it's working. And I'm really excited for this new class of members coming in. Hundreds and hundreds have joined this week.

Oh, absolutely. That's right. And we're closing at 8 tonight. We've got a kickoff party at 8. So I don't want people to miss it because once it closes, it's closed until next year. And we're kicking off tonight. We're going to start first thing Monday morning on our next curriculum. So I'm really excited to have them walk with me and be able to help them win.

Christy Wright, Ramsey personality, the founder of Business Boutique, equipping women to make money doing what they love. It's a bestselling book. It is a three-day conference that is almost sold out coming up in November here in Nashville. If you want tickets to that, you can get them at businessboutique.com. And she is the coach and the founder of the content, almost all the content, that is in Business Boutique Academy as well. And we're talking about enrollment for that and how it's open this week until 8 p.m. Central Time tonight. So you've got tonight. The reason we're closing it is what?

Why are you closing it? Why don't you just keep it open all the time? Well, rather than always focusing on both, promotion of Marketing the Academy and trying to serve the members, we thought, you know what, let's close it. We're going to open it for one week, do a heavy marketing push invite people show you know what is possible this week for them and then when we close at eight tonight i'm shifting my focus and i'm going to be walking with this group of women where we're not always trying to do bandwidth for you and the team yeah it allows you to that's right you don't spend up all your time marketing all the time instead of taking care of the people

that are in the academy right so we're going to be in the academy focusing on them for this next year and walking with them and helping them grow. And Dave, when you think about the price, $489 for the year, that's around a little over $40 a month. This is a steal for a year's worth of coaching and training in your business. You get your ROI back. Some ladies are saying they get back in a couple of days.

So it's absolutely worth the money to invest in yourself, in your dream for a full year of training. But you've got until 8 tonight to invest in yourself, in your dream for a full year of training. But you've got until 8 tonight to get in. Now, we've mentioned, too, that the community is a big part of this. And so what I've found is that I might not know the answer, and I'm pretty good at business, to someone's question here on the air. But if I put them in one of those communities, there's probably somebody in there that knows the answer. That's right. And because women are so relational, they're already connecting.

Just this week, seeing the connections being made. Hey, who's in Florida? I'm in Orlando. Let's get coffee. Hey, who's in interior design? I'm in interior design. Hey, let's get together and talk about best practices. Hey, how do you source for your vendors, for your products?

They're already connecting. That allows there to be a compound effect, a ripple effect that goes way beyond me. So I'm the catalyst that guides the conversation, and then it goes far beyond me where those conversations and those connections are happening 24 hours a day in our Facebook group. So it's really fun to see the impact that's made because we've created this community, like you said. Yeah, the community is an aspect of it, and then you've got a bunch of videos for content. Yeah, so we have a video training library that we're always adding to.

So it has over 100 lessons, kind of like a buffet. Like, go and watch what applies to you. Do you need hiring? We've got lessons on that. Do you need help getting started? We have lessons on that. Do you need help with nonprofit business? We have lessons on that.

We have everything you could need, depending on your stage of business. But then every Monday, we roll out a new video, and it gets saved in the video training library, and we're always adding to it. Good stuff. Proud of you guys. Thank you. You're doing good work. It's been a lot of fun. Thank you saved in the video training library, and we're always adding to it. Good stuff. Proud of you guys. Thank you. You're doing good work. It's been a lot of fun.

Thank you. Helping a lot of people change their lives. It's fun. Nothing changes your life like living your dream and increasing your income. That's good stuff. Christy Wright, the Ramsey personality that is the founder of the Business Boutique Movement, equipping women to make money doing what they love. Again, Business Boutique Academy enrollment is open until 8 p.m. Central Time tonight, and then it will be closed. This is not a bluff.

We're really doing this. It's our business model for this, and we're excited that we're going to be able to serve you guys this way. Thanks for stopping by. Thanks for having me, Dave. Can you believe this real estate market? Home shopping has become so competitive. There's a ton of new buyers in the market, and bidding wars are the new normal. Folks are under a lot of pressure to offer more money to get into that house. Don't do that. Get certified instead. The Churchill Mortgage Certified Home Buyer Program

is a game changer. You can quickly position yourself as a more reliable buyer and you get an upper hand during the negotiations. You can close two to three weeks faster than your competition. So call Churchill Mortgage today and get certified. They've helped thousands of listeners and team members here at my office win the bidding war without having to bust their budget. Call 888-LOAN-200 or visit churchillmortgage.com. This is a paid advertisement. NMLS ID 1591. NMLSconsumeraccess.org. Equal housing lender. 761 Old Hickory Boulevard, Dan and Nadia are with us.

Hey, guys, how are you? We're great. How are you, Dave? Welcome, welcome. Where do you guys live? We're from Big Spring, Texas, which is a little bit between Midland, Odessa, and Abilene. Ah. Way out west.

Yeah, might be flat out there. Oh, yeah. Just a little bit between Midland, Odessa and Abilene. Ah. Way out west. Yeah, might be flat out there. Oh, yeah. Just a little bit. And a friend of mine lives out there. He said you can see your dog run away for three days. Yep. Oh, my gosh.

Welcome. Thank you. Welcome. How much in debt have you guys paid off? We paid off $106,000 in 26 months. Good for you. Yeah. And your range of income during that time? Well, we started out at $38,000, and then just this last year, we ended up making $109,000.

So quite a big difference from the bottom up. Exactly. I mean, you triple your income in two years. How do you do that? Well, when we first started, Nadia had just finished school, and so it took her a little bit to get a job teaching. And so that kind of helped from there and then God graced me with a music minister job at our our church and then as an extra job

yep as an extra job which we both still work there and both are still doing that every day every week and then I do what you tell everybody. I did pizza, delivered pizzas for a summer. I sold everything we could and we just did everything we could to pay off this debt. Gotcha. What kind of debt was the $106,000? It was everything. It was credit cards.

We had car loans, student loans, and it was pretty much all mine. Uh-oh. All right. So you guys were normal we were yeah did you sell anything big uh yeah because i'm making a career change i'm a musician right now and i also teach music but i i play trumpet and i sold two of my trumpets in order to help pay off debt because now we're going to be uh saving up to go to flight school oh wow pilot wow okay yeah and so what what did those sell for uh each one sold for anywhere from three to four We're going to be saving up to go to flight school and become a pilot. Wow. Okay. Yeah.

And so what did those sell for? Each one sold for anywhere from $3,000 to $4,000 each one. Oh, wow. Okay. But we just busted it. We just, every month we did our budget, and we just, we really, I mean, we look back and we're like, how did we pay off $106,000 in two years? What do you tell people the key is? Honestly, the big thing is praying.

Our Lord and Savior helped us with this, and I've taught the class four times, and it's just been amazing to get to experience that and be a part of that. And there was one time when we first did our budget Nadia had never seen like all of it on paper she knew how much debt I had because I wasn't going to get married to this woman without her knowing

but she saw it on paper and she cried she said how are we going to do this and I said I don't know we've got to have a plan. And so from that day forward, we just busted it. It's awesome. And how did you all plug into us? Well, through our church about probably five or six years ago, they would show promos and stuff about a class.

And I took the class when i was single at the time um and i failed it you took the class but the class didn't take right right uh but then i decided when when we got engaged um i said this was really important for us something we needed to do yeah and um we hit the ground running from there. And so I'm on my fourth class this fall that I lead. Thank you for doing that. Yeah, it's a— Makes you do it when you lead it.

Absolutely. I mean, you can't fake it. You've got to do it, man. I mean, that's great. That's a great accountability. Yeah, yeah, it's great. And this fall is a leadership class because we're actually going to take our whole church through momentum in the spring. Right.

So we're just really blessed and thankful for our church to support this. And we're just so happy for it. Very cool. Well, congratulations. So how long have you two been married? Just a little over two years now. Okay. So really you got married and boom, it's game on.

That was the correlation with the 26 months. Yeah. Yeah. Yeah, okay. Cool. Way to go, you two. How's it feel? Great. Nadia, you've got to feel a little different.

Oh, yeah. You can breathe now. I can. You felt like an elephant sat down on you, didn't you? Oh, you can't. Right on your chest. It's like, I can't breathe. Yeah.

Oh, my gosh. It does. It's overwhelming when you look at that and you say, we've got to climb Mount Everest. Yeah. And then you did. Yeah. And then you did it. And you go, look what we did.

We climbed Mount Everest. Wow. You're standing on top screaming, we did it. Absolutely. Very cool. One of the things we look at is, I really think about one of the things you say in the videos is, poor people can't feed poor people. And we just felt so bad we couldn't give more during all this.

And that's just something that we really want to be able to do. And we want to have a future for our son and more kids and just live the life that we get to have now. Well, that's awesome, you guys. Who was your biggest cheerleaders? My mom. Yeah. Her mom cheerleaders? My mom. Yeah. Her mom cooked for us all the time. She cried, too, when she saw the list, right?

Oh, yes. She was like, what are you marrying into? Yeah, but her whole family would cook for us. We lived just down the street from them, and they cooked for us almost, it seems like, every day. And they help us we live in an old house that they used to live in um and we're actually in the house that nadia grew up in just to help save money um for school and and uh and my parents helped us out every time we go visit they live in the dallas area but they would take us out to eat and all that stuff but they

were our biggest cheerleaders. Our church has been our biggest cheerleader in just being there for us. Yeah, you've got to have people telling you you can do it. Yeah. Because there's always somebody standing on the sidelines saying you can't do it. Yeah, we have those too. There's always those grenade throwers. Yeah.

Okay, cool. And in the process, you had a little boy. We did. And what is his name and how old is he? Let's get him into the picture. His name is Ian. Mm-hmm. is uh a year and a half old ah cute as a button and um there's something about those headphones that attracts toddlers yeah he uh we started our journey before he was um before he came. Right.

He got the headphones himself. That's perfect. We started about six months before we found out he was coming, and so we stopped our debt snowball and saved up. And so, yeah, so he's here with us. He's an inspiration for us. Absolutely. Definitely excited.

Absolutely. Well, we got a copy of chris hogan's book for you and that'll be part of the next the next chapter in your journey to be millionaires and outrageously generous as you said so well done dan nadia and ian from texas 106 000 paid off in 26 months making 38 to 109 count it down let's hear a debt-free scream. Ready? 3, 2, 1. We're debt-free! I love it! Great job,

guys. Very, very well done. That's awesome. Absolutely fabulous. Very cool. Open phones at 888-825-5225. You jump in and we'll talk about your life and your money. I haven't even opened up the articles yet.

I need to get them open and read about it a little bit. I'll try to talk about it maybe in one of the other hours if you're listening on podcast or to the show today. But apparently Facebook has now had 50 million accounts that they've had a data breach on. 50 million of you just got your data handed over. Thank you, Facebook. We love you. Unbelievable. I tell you, between that and all these other hits, but, you know, Equifax, Target, I mean, $100 million, $300 million, $50 million.

You add it up, a million here, a million there, $10 million here, $100 million there. Turns out most everyone has now had their data breached. You pretty much have to live off the grid now or your data has been breached. This is why you need to get to Xander and get the identity theft protection. That's why I've got it. You know, it's real simple. Someone got your stuff and they can go open an account in your name and then you got to deal with cleaning it up.

You don't have to pay it because you didn't do it, but you've got to deal with all the turkeys that issued the credit card to some crook and get them to shut the account down and not charge you and not put it on your credit bureau. And it's a process, man, unless you've got something like Xander Identity Theft Protection in place where they assign someone to your case to do all the work for you. That's the way you do identity theft protection. And that's why we endorse Sander for that. Kevin's with us in Pittsburgh. Welcome to the Dave Ramsey Show, Kevin.

Hi, Dave. I was in town for business this week and had a chance to stop by the studio on Monday for the third hour. I mean, beautiful place and the cookies were awesome, so thanks for allowing us to come watch. Absolutely. I'm one of your 10,000 in the survey, and I had a question flash dilemma that I wanted to run past you. Okay. I've determined that 8 million is kind of my number I'm shooting for. And so as a result, I find myself checking the market, updating network, like looking at it day by day.

And it's a good day when the market's up, a bad day when it's bad. And I'm kind of letting those circumstances dictate my mood. And then I find myself getting frustrated because I feel like it's one of two things. So it's like either I desire the things of the world and I'm discontented, which I can tell you I'm not, or as an evangelical, it's a lack of trust in God who, you know, has obviously proved himself untrustworthy to us as a family over the time. So I was just kind of like, I guess it falls in line with the whole it's okay to be wealthy thing that you talk about, but I guess how do I find myself getting more balanced along that way versus always trying to strive to get to that number and not enjoying kind of life

that goes by. Yeah. Um, you didn't get there by controlling every day. You got there by controlling every year and have, and controlling your, your habits during the day. But you did not fret your way into wealth.

And now that you've set this next goal to get up to $8 million, what's your current net worth? Right at $2 million. Okay, and now you've just set a new goal. And now that you've set that goal, you started fretting. You didn't used to fret, right? No, no, not at all. Okay.

And all it is is you've shortened your vision window to a daily vision window instead of an annual or every two year. And so you need to look further out, and that'll get you looking past the bumps. And then it won't control your mood. I don't look at my mutual funds, and I don't tally my net worth once a year. Once a year. I have no idea what the stock market going down this month or up this month did to my net worth. I do not look at it, and it's not because i'm holy or something like that i don't have time to screw with it number one

but number two it would drive me bananas which is exactly what's happening to you yeah you know it's like you know it's uh you know you're the you're the guy who, in the second quarter of the football game, the team is down one touchdown, and it's as if you've lost. The game's not over, you know? Finish the game. And you've got two more, there's a lot of football left, you know? And that's all, you're just doing it to yourself. And it's because you became goal-oriented and you became focused on it.

But I don't think it was, I may be wrong, but I just don't smell that there's a spiritual problem here. I don't think that it's a lack of trust in God. I think you just got caught up in the short term instead of the long term. Am I wrong? Yeah, yeah, I think that's fair. Like I said, it's – you know, and part of it I feel like is that – I remember in your book you talk about when you get close to the top of the hill, how you start pedaling a little harder and a little harder. And so it's almost like you feel it's so close that it actually gets harder even though you're closer to the top of the hill.

I think a little bit of that's going on as well. I think a couple, if you wanted to put a spiritual lens on it, and I'm not, again, I don't think that's what's going on, but we can talk through that just because it's a good discussion for the rest of our audience to hear you and I talking about. But it helps me to remember I'm managing it for someone else. Okay? So is the owner that I'm managing this stuff for upset on a daily basis? Does his mood change? Does his judgment of my management skills, is it dependent upon how I do in one day or how I do over a period of time?

And I think, you know, I both know that that means that, you know, our Heavenly Father owns this stuff, and he's more saying, are you a faithful steward? Are you a faithful manager? Are you a diligent manager? The diligent prosper, the Bible says. Are you watching what's going on? You are.

You are. And, you know, the owner's instructions are, don't worry about today. Let today take care of itself, you know. I mean, he's got it covered. And if you do the principles, if you follow the biblical principles of the steady investing, constant management and looking at it, then you know you're going to get there, because that's what got you to $2 million. And the exact same thing that got you to $2 million is going to get you to $8 million.

It's just a matter of timing and when and so forth. And so, you know, I do not – I just don't look short-term. I think long-term, and I just remind myself if I owned it, I might be more upset about it, but it's not mine i'm just managing it for somebody else and i just go hey god you know that mutual fund you got over it didn't do real well last year i guess i'm gonna have to move it for you that one pretty much sucks and so we're gonna move it but i mean that that's if you could kind of get disconnected from it to where you don't – because owners fret more than managers.

Does that make sense? It does. It does, yes. Thank you. And that might be a little bit of that in there, but I don't think it is. I think all it is is you dialed your vision back too short, and you're seeing every bump in the road and experiencing every bump in the road instead of riding over them meanwhile enjoying it are you uh budgeting money uh for luxuries

and enjoyment not not huge amounts but are you buying a toy for your wife ever so often or a trip or whatever i am probably not as much as what she would like, but, you know, we work it in. I mean, we went to Aruba last year, then to Hawaii twice in the last five years. You know, she has purses with fancy letters on them, that kind of stuff. So, you know, I feel like that's part of what we do. Yeah, okay. I might turn that up an eighth of a notch. Okay.

Not 8X, one-eighth of a notch. Okay. Not 8X, one-eighth of a notch. Okay? Because you're there. I mean, you got a $2 million net worth. You lived like no one else, so now you should enjoy your money. It is one of the three things you do. You give it, you enjoy it, and you invest it. And we've spent this whole time talking about investing.

And that's another thing. Because, see, if you're enjoying the ride, and, you know, it's not a prosperity gospel thing to say, if we being evil know how to give our children good gifts, how much more so our Father in Heaven? Your dad wants you to enjoy this. Not only enjoy it, he wants you to give it, he wants you to enjoy it, and he wants you to invest it. You know, all three things. And you're doing all three, but sometimes a little bit of an adjustment on one of those, one way or the other,

will cause your enjoyment of the wealth to go up and your enjoyment of the ride, the journey. Because, dude, touchdown, you won. You have a $2 million net worth. Congratulations. You're one of our everyday millionaires, you said in the survey. So very, very well done. If you've not read Legacy Journey, you need to read it.

It's the only book I've written on wealth. All the other books I wrote were on money. There's a difference in wealth and money. And what we've been discussing here for the last segment, folks, was wealth. And that's why I took the entire segment with this one caller, because it's very important for you guys to get your head around this process. So I'll send you a copy of the Legacy Journey. And, Kevin, thanks for calling in.

I'm proud of you, man. You've done very well. You started with nothing. You inherited nothing. And you became worth $2 million. You did something right. Did a lot of somethings right. And you're going to be fine.

You're going to be really, really fine. Thanks for calling in. Open phones at 888-825-5225. You know, if your wealth owns you, then you shouldn't be wealthy. If you can hold it with an open hand and can learn to use it for the good of others with outrageous generosity, and you can learn to enjoy it for your family and keep balance, and it doesn't change you, it doesn't make you into some kind of weirdo or something like that, then there's absolutely nothing wrong with this.

You ought to aspire to become wealthy. It is an indication that you've been diligent. The diligent prosper. So, hey, that's why we're going to do this Everyday Millionaire's book of Chris Hogan's coming out in January, right? Because we want to show you how to do that. We want you to be just like Kevin or more. Hey, thanks for listening.

That puts us out of the Dave Ramsey Show and the books. Our thanks to James Childs, our producer. Kelly Daniel, our associate producer and phone screener. I am Dave Ramsey, your host'm excited to announce that we're now carried on 600 radio stations across the country. To find one near you, head to DaveRamsey.com slash show.