The Ramsey Show - App - Double-Check Your Homeowners Insurance Policy!

Episode Date: May 9, 2022

Dave Ramsey & Kristina Ellis discuss: Should you sell your business? Should you increase your homeowners insurance to go up with your home's value? Should you buy a modular home for retirement? Is a lineman a good career move? 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. Christina Ellis, Ramsey personality, number one best-selling author, is my co-host today as we answer your questions about your life and your money. We help people build wealth, do work that they love, and create amazing, real relationships. It's a free call at 888-825-5225. Lancaster, Pennsylvania, Jake is with us hey jake how are you doing good dave good how can

we help yeah i'll just call on um i have a couple questions um me and my wife started a uh trash business um i'm 23 and she's 21 um but we are currently renting um we don't have any debt in anything um we're just wondering we would like to buy a house down the road um but our business is growing also and we're kind of stuck on a crossroads whether we should keep investing in the business and renting or sell a business and move and buy a house to where we want you would move to a different different location different yeah yeah we were looking to move into a different area eventually why we'd like to buy a house um well we have some family down in a different state actually and we always wanted to buy a house in that area and we just we were running we had this side

business and it kind of grew up a little bit more than we thought it would. What is it? Kind of at the point, well, we haul trash and we're out of a truck and trailer right now. We kind of outgrew that. So we kind of need to buy a trash truck now, or we weren't sure if we should keep with the business or, you know, move on to buy a house somewhere what would it look like to do that business in the city where you want to move um i think we could do it there um we don't exactly know how the market is right there in that certain area we would like to move at um we know where the market what the market's kind of like where we're at now, but obviously we would like to get out of the rental also.

We're just afraid of being back in the tour. There's no panic. There's no panic with any of this. How many customers do you have? Well, we do 60 weekly customers, and we started six months ago, and we've been gaining more customers every week. So it's been a progress. Why has it grown so fast um i'm not sure honestly we didn't do much advertising or

anything well apparently your competitor sucks dad i mean that there's some of that going on too um maybe get lucky there but i just i don't want to i don't know if we should keep renting, like if it would be a good investment to keep renting or a good investment to invest in our business and grow the business. Because we have, like I said, we don't have any debt. We have a little over $30,000 saved up. Yeah, it feels oxymoronic to keep growing a business in an area that you don't want to stay in.

Right, that's kind of where we were thinking. What I would do is do some real analysis as to why your business exploded and then go spend a week in the new area and investigate competitors, investigate market potential, and see if you can't replicate that there. I mean, if you did this in six months, what could you do in six years in a place you wanted to live? Yeah, I mean, that's definitely what we were thinking. We just, like, we didn't know if we go, if we move and buy a house,

then that's obviously going to put a hurting on our savings or rent. Well, you can move and rent and start the business, get the business going, and then buy a house. Nobody said you had to move and buy a house. That's true. Okay. Well, we typically recommend that. We usually say rent for a year when you move to a new city so you can kind of get to know the area and feel things out and see where you really want to live.

Could you sell that 60 customer list to somebody? We were talking about it. We have a couple who are actually interested in it um but what would they give you for it we don't we were we didn't have any numbers yet um we didn't really talk much on that kind of profit are you making a year well off the trash business that's definitely part-time so we're making about fifteen hundred dollars a month on that okay so you're making twenty thousand dollars a year profit time job yeah you're making twenty thousand dollars your profit if somebody paid you uh a hundred thousand dollars for that that wouldn't be unusual

okay well no that's not true because you gotta take labor out of it but um and if you take the labor out of it if somebody paid you 30 or 40,000 bucks and you had 30 or 40,000 bucks in your pocket already and then you roll down to the new area, you rent, buy a couple of trucks and get started based on the market research you do on the week vacation. I'm telling you to take, um, then you talk about buying a house two years from now. Once you got that business up and running, you got 60,000 bucks in your pocket to go start your 22 years old. You're a rock star, man.

I got you. Okay. Yeah. I just i just like i said i wasn't like i thought it was kind of not too smart to keep building a business in an area that we don't we don't want to plant our roots in completely agree completely agree but the the part that i am changing is you don't have to buy a house when you move and you need to go check it out because you got a lot of fear on whether you can do this business because you don't know the landscape. Go learn the landscape. You may go down there and find out the whole thing's locked up with a company that's been there for 40 years, and the county does all the trash collection, and there's no market.

There's zero potential. You may find that in that area, and you go, well, I've got to have something else to do then. Okay. But the good news is you're not afraid of hard work because what you're doing is hard work and uh and you know you guys have been you've been stepping and fetching you've been getting it because in six months you did this that's pretty impressive and again you're 22 that's not to put you down that's to say it's impressive that you did this at a young age. And so my point is you can do it again. The secret sauce to this is not the trash business in this singular location.

The secret sauce, Jake, is you. You're the secret sauce. You're the one that's got the answers. You're the one that's got the potential. Not the trucks, not the location, none of that. You are the common denominator of this success and that's what's movable that's portable absolutely yep that's what i was going to say you guys are so impressive at 21 and 23 year olds three years old to build that business so quickly

is amazing and if that is ultimately where you want to end up that different city you guys are going to be successful you know in something else if it's not the trash business you guys have such great work ethics great skills that i'm not worried about y'all y'all are going to crush it it is a uh an extremely lucrative business it's impressive and that's why a lot of major corporations like waste management and so forth have moved into that space um there's a lot of details with it. This is amazing. Extremely lucrative, but a lot of people don't want to do it, which is part of the opportunity that he's jumping on right now.

A lot of people don't want to do the trades and get their hands dirty. But when you really look around, that's why I encourage students to don't just go for a four-year degree if that's not what you want to do, because you can make a ton of money picking up trash or doing some other trade. They're proof of that. Yeah. I mean, that's just... Yeah.

Just whatever you're going to do, as long as it's legal and moral, be good at it. And obviously he is. This is The Ramsey Show. Thank you. Hey folks, there's never been a better time to find a job doing work you love that matters to you. That's why I can't wait to tell you about the exciting roles open here at Ramsey Solutions. And these aren't your average jobs. These are life-changing jobs that matter. You might think we're just a radio show out in the middle of sticks in nowhere Tennessee, but we're so much more. Our creative team is over

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Find all of the open roles at ramseysolutions.com slash careers. That's ramseysolutions.com slash careers. If you're looking to sell your house right now, that can be a little bit overwhelming. The market is crazy! Homes are selling for way over asking price and demand is higher than supply. It's a lot to try to navigate. But look, you don't have to sell your home alone and you shouldn't. It's important to have a real estate agent who knows your local housing market inside and out and who will walk with you through the process.

You need an endorsed local provider by your side. Our ELPs are Ramsey Trusted, which means they're highly vetted, top-tier real estate agents that my team and I trust. They're pros who are excited to serve you, help you sell your home at the right price point. It's a little nutty out there. It's not amateur hour, and so you really need a pro in your corner that knows what the flip they're doing.

Get a Ramsey-trusted ELP. Ramseysolutions.com slash agent to find one near you. Ramseysolutions.com slash agent. Dale is with us. Dale is in Mesa, Arizona. Hi, Dale. Welcome to the Ramsey Show. Hello, Dave.

Thanks for taking my call. Sure. What's up? Hey, so I was having a discussion with my wife, and we were talking about the appreciation of our home, and we're on baby step three right now. And so I have assets that are paid off, but we have coverage that we used to have, let's say, three years ago on the vehicles and trailer and home that's skyrocketed in value now.

And to be able to replace those items, I was asking, you know, I was talking to her and she's saying you know just ask dave and see what he says i was thinking maybe should i increase my coverage to meet the what it would be to replace those i those assets yes you should do that once you should do that once a year every year okay yeah you should review because your home your homeowners is your homeowners has a stated amount some policies have a a cheat that allows you to go up uh five or ten percent maybe even twenty percent but that's all and so you could have a three hundred thousand dollar policy on a house you bought five years ago and now it's selling for 450 and it burns you are screwed exactly yes that's what yeah i work in the fire industry and um doing investigations and i see it all the time that people just don't have any insurance because their house is paid off well that's a good

yeah but yeah no this is this is just everything here's's the thing. What happened, Dale, was in the old days, like when I started this show, you know, way back, if you bought a homeowner's policy or a car policy, it just covered the car regardless. And so if it went up in value, it just covered it. And then State Farm led the way after Hurricane Katrina and a few others. And there was another hurricane in Florida that started the whole thing but uh they got they got they got hammered in other words they had like houses that they had two hundred thousand dollars worth of coverage and it was a six hundred thousand dollar house and they had to put the six hundred thousand dollar house back they got hammered and so they quit covering the the uh replacement value instead they cover only what the policy says.

But the old policies back in the day, like when you were a kid, were replacement value regardless. You almost can't get that anymore on houses. If you do, it's super expensive. We have about 60% to 70% equity in our home now, and we're working to pay it off. The equity doesn't enter into this equation. You need a policy equal to the value of the home,

and you should revisit that each year because you're not going to be covered. And the same thing on cars. Cars typically go down in value, but lately they've gone up in value, so you might want to revisit that. But you need a good go to RamseySolutions.com, click on ELP for P&C, property and casualty insurance, and get a fresh quote on your house. They'll shop among a bunch of different companies and get you the best coverage for the price.

But that's a change in the market in the last 20 years that now requires you to be vigilant because your insurance company is not. Yeah, I think that's such a great reminder for everyone listening. I mean, we've all seen crazy property values skyrocket. So I think it's just important for everybody to take a moment and go, let's check. Let's make sure we've been in touch with our insurance ELP and make sure that we are up to date and that everything is completely covered. And if you are questioning that, we also have a free coverage checkup at RamseySolutions.com, where you can just check and make sure all your insurance is in the right place.

Yeah, make sure you got the right kinds of insurance at this phase of your life and everything. That's exactly right. But I just think it's really, really important. One thing when you're buying car insurance, you're buying homeowner's insurance, for that matter, life insurance, any of them, you should use an independent agent. And that way they're shopping among several different companies, and they are actually technically working for you because they get paid when they sell you a policy. So they're going to get you the best deal among all these different companies versus like State Farm, which is a captive agent. And that means they sell one thing, State Farm. deal among all these different companies versus like state farm which is a captive agent and that

means they sell one thing state farm and guess what they're going to tell you is the best price state farm and it's usually not and guess what they're going to tell you is the best service state farm and it never is okay their claims are ridiculous their claims are horrendous to work with so uh you know know, nationwide, captive agents. So it's kind of like if there's a famous football player on the commercial, probably not the best insurance, you know? That's what I'm saying. So, I mean, you know, we got Aaron Rodgers on one side,

Peyton Manning on the other, right? And so this is what's going on in the insurance world. So what you're looking for is an independent agent that will shop and get you the best deal and also ask that agent to put a tickle in the file if they don't automatically do it and review and update your policy every year, especially in these inflationary times. You can just be left hanging. It's bad. And when you do that, you end up getting a better price. That's good.

A lot better price. A person using one of our ELPs ends up saving on a car and homeowners together an average of about $700 a year just by changing out from one of those expensive name brands, so to speak. Yeah, that's such a good clarification. I know when I was in my early 20s, I thought, you know, to find insurance, I just had to drive to the local insurance agent. I think I went to State Farm and just knocked on the door and said,

hey, can you help me? And I spent way more than I needed to. You never checked it. You don't shop it. And here's the other thing. You usually know somebody in the insurance business. It's like the real estate business or whatever. It always just seems to be somebody you know that's a State Farm agent or whatever. whatever i mean i've got like five or six people that i know very well that are state

farm agents uh they're not real thrilled with me because i tell people not to do business with them but um but you know that's they're just it's not that a person i'm talking about it's the company and their prices are ridiculous so yeah that kind of stuff so just shop around and you're right though a lot of people just first thing there well it that kind of stuff. So just shop around. And you're right, though. A lot of people just first thing there. Well, it's kind of like when we're buying insurance, we kind of hold our nose. Yeah. It's like, I want to get this over with. You know, which arm do you want the shot in?

I don't care. Just get it over with, you know. Right or left, it doesn't matter. I'm going to be sore tomorrow anyway. That's how you feel when you're buying insurance, right? It's about to stick me here. This is just, you know, you just, ugh. Yeah, it's't matter. I'm going to be sore tomorrow anyway. That's how you feel when you're buying insurance, right? It's about to stick me here. This is just, you know, you just, ugh. Yeah, it's not the most exciting topic.

But like you said, a lot of people have friends that are insurance agents. And I know, especially with insurance and real estate, it can feel like, oh, man, I don't want to turn my friend down. Like, I'm going to feel bad. But this is an area where don't feel bad. Like, you've got to do what's right for your family. You've got to protect your assets in the way that's necessary. And don't just rely on friends in that situation. Yeah, I'm going to feel bad if I lose $1,000 a year.

Exactly. If I paid too much and didn't have my house properly covered, I'm going to feel real bad then. And that can really happen. So, yeah, make sure you get the right amount of policy and that you update it once a year and that you're shopping with an independent insurance broker. These are all real solid tips.

And, again, we're not in the insurance business, but we've got a network of people with the heart of a teacher that are Ramsey-trusted. They're going to do exactly what we're sitting here saying right now, and they'll shop your homeowners and your car insurance and get you the best possible deal. When you go to Zander Insurance and you're buying life insurance they're an independent agent they're gonna that website's set up to automatically shop among a bazillion different life insurance companies in your particular situation they'll give you the quotes of four or five different ones and you can look at them you can tell what's going on i mean you

then you get to decide the power is in the consumer's hands when you're dealing with that. And that is the best way to do this stuff. Christina Ellis, Ramsey Personality, is my co-host today. This is The Ramsey Show. Thank you. Christina Ellis Ramsey personality is my co-host today. Thank you for joining us, America. We are so glad you're here open phones at 888-825-5225 in the lobby of ramsey solutions on the debt free stage john and julie are with us hey guys how are you great we're doing great good to have you guys

where do you live fairfax virginia oh my Oh, my gosh. Well, welcome to Nashville. And how much debt have you paid off? $360,000. Whoa. How long did this take? Seven years and seven months. All right. And your range of income during that time?

We started around $115,000 and ended up over $300,000 at the end, the last year. Cool. Good job, you guys. Well done. Wow. Very cool. What, you guys. Well done. Wow, very cool. What do you do for a living? We run a digital marketing agency. I do kind of web design.

I do graphic design. Okay, wow. You're doing well. Congratulations. Very good. Okay, seven years and seven months of 360. I'm guessing this might be the house. Yep.

Yes. We did. Looking at where people. I love it. I love it. What's this house worth uh about 650 way to go you guys i love it excellent excellent job so tell us the story what happened seven years and seven months ago that started this process well it actually started a little bit before that yeah we. We, uh, 2005 had been married a year. We bought a house that we couldn't afford on zero down, did it all the wrong way. Didn't know about you. Did it all the wrong way. Four years later, uh, we had this little thing

called a balloon payment that we didn't realize that we had. And so they said, Hey, in a few months, you're going to owe $63,000, which we did not have. Um, and so we short sold our house and kind of hit rock bottom. Then we were driving this 85 Oldsmobile that had rust and everything. We just had two kids. Oh, my God. We had two small kids. And so that was around that time that someone mentioned this guy, Dave Ramsey. And we got the book, The Total Money Makeover.

When you're at that level, you just won't listen to anything. Yeah, yeah. Any advice that anybody has that's better than what we've been through. And so we read that in a few days and we're like okay we need to do this and so we paid off our student loans our credit cards all those things and then we started kind of on the 3b plan of saving a down payment we saved 20 percent um bought a house seven years seven months ago and then paid it off as quick as we could we didn't want to do it yeah like that before yeah yeah we're not going back there no no this was not fun and i hope you got a better and then paid it off as quick as we could. We didn't want to do it like that before. Yeah, we're not going back there again.

No, this was not fun. And I hope you got a better car now. We do. We do. We got rid of that one. Yeah, that was a serious hoopty. I did threaten my son who's about to drive soon. He said, hey, you know, I could have saved that one for you,

but he's glad that I didn't. He considers that as an act of love. Getting rid of the hoopty. All right. Good, guys. Very cool. Man, you did it. That's a long journey.

11 years, but it's all done. Yeah. That's a lot of money. $360,000. How did you do it? What did you do to get out of debt? Well, we stuck to a budget, which was really great to have encouragement from our family. And we also teach FPU at our church with some small groups, and they've been cheering us on.

Thank you. Yeah. What was the hardest part? I think looking at it and seeing that it was still a long ways off most of the time. You know, it was like a lot of the progress happened in the last couple of years. Um, turns out during a pandemic, everybody needs a website. So our business kind of, while other businesses were struggling, we, we took off. Um, and so, but I think the first few years it was not seeing a lot of progress, you know, just kind of paying a little bit extra, but just kind of knowing that we had this goal,

uh, to try to pay it off by the time I turned 40. We had charts on the walls. We listened to your show like 24-7 all the time. We work in the same office and he'll turn on your show and we'll just keep listening to all the debt-free screens, everybody's stories. They are really inspiring to us. And so that was what kept us going. Cool. And you get to see them in real life when you teach in the class yes oh yeah yeah it's amazing we usually save it toward a little bit at the end of this last class we hadn't told them that we were debt free 100 till toward we got later in the steps i think they were all just blown away yeah well congratulations yeah okay so how much is in the retirement accounts uh about 400 some so we've crossed the line last year yes your baby steps millionaire how old are you guys

39 i just turned 40 oh 40 years old you're millionaires yeah and all the way from a rust bucket i mean that's pretty cool yeah this is proof it can be done. You did it in 11 years. Zero to 60 in 11 years, right? Yep. Yeah, and Higgy Rock Bottom. Wow. Wanted to change our legacy for our kids and for our family. You guys are cool. You guys are very cool.

I love these numbers. That's amazing. So how's it feel? How's it feel to be debt-free? Like you're done, house and everything. Woo! It's so wonderful. The grass does feel different.

It does. She's got a garden that she loves to do stuff in as well. And yeah, it's just wonderful. Live like no one else. T-shirts, gazelle T-shirts. I mean, yeah. I'm still pinching myself. This is awesome.

This is very cool. Well, congratulations, you guys. We're very proud of you. Thank you. All the way through. That's exactly what you're supposed to do. Well, we've got a copy of Baby Steps Millionaires for you. You should be in there, actually.

And How Ordinary People Built Extraordinary Wealth, How You Can Too. Maybe you can even give it away. And we'll give you a copy of Total Money Makeover to give away. And I'm going to do something else for you to give away. I'm going to give you a one-year membership to ramsey plus which sets somebody up for financial peace university and every dollar of course and you can give that away and you guys will have great use for all of that because teaching a class you'll see people that you can scholarship in that way yeah so that'll be a great way for you to help them out so very

cool financial peace for free for a year not bad thank you good stuff all right guys way to go let's get the kiddos in what are their names and ages jeremiah is 15 15 elias who is 14 and alicia who is 11 and sammy who is 10 all right cool beans we're ready to go i love it all right john and julie and the gang from Virginia. $360,000 paid off, house and everything, on the way to becoming Baby Steps Millionaire. Seven years, seven months, making $115,000 to now $300,000. Count it down. Let's hear a debt-free scream. You guys ready?

Three, two, one. We're debt-free. Boom. one we're dead free boom that is how it is done so they are why sometimes you hear me get visibly angry when someone says, millionaires are just lucky. I get angry when I hear that. There wasn't any luck involved in that. It was hard work and sacrifice. And they happened to catch a great timing wave with their business, took advantage of it, and went zoom, zoom.

And if you're selling plexiglass in the last two years, you've had a pretty good run. And if you're building websites, you've had a pretty good run. So there's the thing. And on top of that, they had a plan, they had a system, and they went from losing a home in a short sale. That's a foreclosure, pre-foreclosure deal. Driving a rust bucket, a $500 car.

And now you're looking at four teenagers whose lives have been completely changed. That's pretty amazing. That's incredible. And I mean, you could even hear, like there was overwhelm at the beginning, $360,000. That's a huge mountain to climb. So it's like, it's okay to feel overwhelmed,

but that doesn't mean don't do it. Do it. You guys are proof that it can be done. But if you're listening at this moment or you're listening back at a different time to this particular broadcast and you're at the bottom, you're driving a $500 car and you lost your house. You're going to be okay. It's going to be all right. I went bankrupt and lost everything when I was 28. to be okay. It's going to be all right. I went bankrupt and lost everything when I was 28. I'm okay.

I'm better than I deserve, as a matter of fact. So there's a lot of hope here, folks. I'm just saying. And when you see people like that, they just look like hope to me. They just are proof that if you plant corn, corn will grow. Wow! Who knew? You know?

That's amazing. It's the perfect before and after. Y'all are such amazing examples. Beautiful, beautiful, beautiful. Great recovery. Nice save. This is The Ramsey Show. Thank you. Our scripture of the day,salms 1 1 blessed is the one who does not walk in step with the wicked or stand in the way that sinners take or sit in the company of mockers

winston churchill said an appeaser is one who feeds the crocodile hoping it will eat him last You know, I haven't seen that psalm in a while, and it kind of catches me here. Blessed is the one who does not walk in step with the wicked, or stand in the way that sinners take, or sit in the company of mockers. We have a lot of professional mockers on social media now. They're called trolls. And when you sit in the company of them, you are not blessed. Isn't that interesting? I have not seen.

I mean, I never thought of mocking as, you know, because I'm a sarcastic person, right? But I never think of it as as serious as in step with the wicked. It's in the same sentence. You're blessed if you're not in step with the wicked, if you're not standing in the way that sinners take, which kind of makes sense. I mean, I get that one, right? But sitting in the company of mockers,

that kind of comes in from left field a little bit for me. Interesting. Very cool stuff. Christina is my co-host today. company of mockers that's kind of comes in from left field a little bit for me interesting very cool stuff christina is uh my co-host today and christina is also on the phone in riverside california hi christina how are you good day how are you good your phone sucks can you speak directly into it yeah can you hear me now yes ma'am much better how can we help all right so my husband and i we actually saw you thursday in vegas so thanks for that thank you um yeah so we're in vegas that's six and we're about six years out on retirement and we purchased land

about two years ago to kind of start the project was building our retirement home. And over the last two years, just the market has kind of priced us out of doing like a custom home build. We're considering alternate methods, like a modular manufactured home along with custom built and was wondering what your advice on that would be. When you say modular, it can mean a lot of things. All right. If it rolls up on wheels and when you're done with it, I can tell as a consumer when I walk up to it that it rolled up on wheels,

it's going to go down in value. I would not do that. But there are plenty of construction techniques now that include sections of a home pre-built and rolled in and framed up around. And you have, you know, for instance, pre-done floor joists or pre-done rafters, that kind of thing, or wall systems sometimes are fine. All of that's fine. That is technically under the heading of modular as well. But no, I would not buy a trailer or a glorified trailer.

It's going to go down in value. Okay. Yeah, I mean, we're definitely looking at the modular option as well and just hoping to find something in our price range we have about uh two hundred twenty eight thousand dollars in cash right now well you also have a home in riverside that you're going to sell when you retire well we're we're actually hoping to keep it okay Okay. Well, I mean, it depends on how you want to retire, I guess. Yeah. I don't know.

I mean, I might rather have a rent. Where's the retirement home? In Puget Sound, Washington. Okay. I might rather have a rental or two in that area that I paid cash for that the total of is less than your current home in Riverside rather than having a rental in California. Okay. And have a paid for nicer property that I live in for my retirement years. Matter of fact, I know I would rather do that because long-distance

landlording is less than fun for me i don't i don't really have good results with that usually so try not to do it um not on residential for sure um so that's kind of the way i would go the other thing i think christina to keep in mind is um you don't have to build that house this year and um while i don't think the prices of homes are going to come down substantially the components to build a home are coming now and because they were factories that were shut down during the pandemic and so lumber as the supply comes up we're seeing the prices drop. Steel went nuts for a while on commercial buildings. I think we're going to see that stabilizing come back down.

And we're seeing some of the major components come back down. You know, once the oil thing straightens out, and it's not anywhere near it right now because Biden keeps screwing with it, but if oil prices come back down, then you'll see stuff like asphalt shingles, which have oil in them, asphalts made with oil. So, you know, they'll see the shingles on a house come back down. So some of this stuff is driven by inflationary pressures that might not, that I don't think are going to be sustained. And so if I were going to build a house,

I might rather build a house two years from now than I would today because I might see prices cheaper on the components of that. Something else to consider. Yeah, and she mentioned that she was working with a friend on kind of dreaming up this retirement home. And so I would be curious just, you know, with that friend, what their role is in that process. I know, obviously, with friends, it can be hard to then want to shop around. But if that friend has skin in the game, you know, that might be an extra price factor. So just keeping your options open, especially as prices start coming down, being willing to, you know, just look around and be open to options. Yeah, you're talking about that as a builder.

Yeah, I looked at several different builders and how they put the package together and the timing on it is everything. It really is. I mean, if you'd bought lumber six months ago you would pay a good deal more than you pay for it today that's that's what i'm talking about that's the thing so um and there's nowhere near the shortage that there was six months ago uh i mean there was jokes about you know memes going around with like two befores like bars of gold and stuff you know and that that And all that pressure is gone at this point so far. All right, James is with us in Mesa, Arizona.

Hi, James, how are you? Hey, Dave, first off, big fan, and I need some words of wisdom from you. Well, try. So this two-part question, first part is I'm thinking about doing a career change. I just turned 32, and I did bankruptcy about a year and a half ago. And I currently am in the service industry as a pole technician for a company out of Mesa, and I'm looking to change careers to become a lineman through one of the electrical companies out here. And the second part to the question, and I would like your opinion on that, how to approach that. And then the second part to that question is, like I said, I filed bankruptcy 32. Am I still young enough to start investing now? And cause I eventually would like a family who would like to get married and have

my own house at some point, but I would like to get married, and have my own house at some point. But I would like to get my career on track first. So if I could get your opinion and some words of wisdom on that, that'd be great. The only thing I know about linemen is the ones I've known personally that were friends or relatives. And the thing I know about them is they make a lot of money. They work really, really hard. And at times, it's more than a wee bit dangerous.

Does that sound familiar? Does that sound right? Yes, sir. Is that what you've heard? Yes, sir. I mean, and a lot of the ones i know also there's some travel involved a lot of times depending on what type of work you're doing i was a volunteer firefighter so the danger part ain't a worry for me well i mean it's it's just a matter of i i'm not afraid i just want to

be wise and that's that's not you know i don't want to be crazy about it i don't think it's uh if it was life-threatening uh in the sense that people died every day doing it then there would be a different process used than that right so it's not that but it's just you know you want to be a high high rise window washer there's you know there's danger involved and you get paid well you know that kind of thing so yeah i think that's fine. And as long as you're working and you start getting handling your money right, I don't know that you have to be some kind of big time investor before you get married and have a family. Yeah, well, I would encourage you to check out some of Ken's material on, you know, just how to pick the right career, because maybe it's being alignment,

but I don't know how much research you've done into other options, but just making sure that you're picking the right thing. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus. Have you been inspired to make a change with your money? Want to know where to start? Take our three-minute money quiz to get a plan you can follow. Go to ramsaysolutions.com and search for Get Started to get a plan for your money.