The Ramsey Show - App - Dude, You Need To Paint or Get off the Ladder! (Hour 3)

Episode Date: August 18, 2022

Dave Ramsey & Dr. John Delony discuss: Why marriage is statistically economically advantageous, Factors that contribute to financial prosperity and marriage stability, What to do after selling property.   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   Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

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. We help people build wealth, do work that they really love, and have actual amazing relationships. Dr. John Deloney, Ramsey personality, number one best-selling author, is my co-host today. Open phones at 888-825-5225.

That's 888-825-5225. David is in L.A. Hi, David. Welcome to The Ramsey Show. Hello. Thank you for taking my call.A. Hi, David. Welcome to the Ramsey Show. Hello. Thank you for taking my call. Sure. What's up?

I need your advice because I'm on the verge of making a serious life decision. I'm currently in the process of buying a condo with the mother of my children. We're not married. We've been together for 10 years. The thing is, like I said, we're not married uh we've been together for 10 years um the thing is um like i said we're not married or engaged and i don't plan on asking her to marry me anytime soon i wanted to get your advice on what you think we should do because like i said we are in the process of buying this condo okay well um all of the data that i know uh regarding a situation like yours the the legal problems that that what you're entering into is going to present you if things go sideways

um the uh the future uh prosperity of this family unit uh tells me that uh marriage is your best answer uh now uh i'm curious if you're willing to have babies with her and buy a condo with her those are both very large decisions why would you not marry her um that's a great point it's just mainly you said it kind of like as a flex like i'm not i'm not married here i'm even gonna ask her to marry like like dude you're already married like you you're doing all the stuff kids with her like you're you are you are connected to this woman for the rest of your life it's like a technicality now yeah what are you doing like what are you scared of i just feel like every time uh get to, like, at the finish line,

there's just something that brings me back, and it's mainly just, like, she has a terrible problem with communication, not just with me, but... Dude, it's too late to find that out if you bought a condo and had three kids. You made humans together, bro. The ship sailed. Now you get to decide whether you want the ship to be in the harbor and have smooth sailing ahead or it to be a disaster.

You're already out in the water. So let me tell you that. It's more like my mental aspect of how I see the future then, right? No, no, no. Here's what you're saying. I don't want to marry her. I just want to buy a house and raise kids with her

together for, for, forever. Well, the thing is, like, I don't, I mean, yeah, we've had kids together

and I've been doing my best, you know, to keep, I want, I want to raise my kids. I want my, our kids to be in a family-oriented, you know,

environment. Then make a family make a family seal it up so you're saying just put up with like whatever no no no no no no dude you're gonna put up with them anyway you're buying a house if you live with her with kids it's the same woman yeah whatever problem she's got whatever problems you got they're gonna be there already hold on let me ask i think i get what you're asking you're gonna buy a house and y'all are gonna live there together but you're gonna see other people who are gonna make you happy

no no you're gonna be true to her it's because uh yeah and i've been these 10 years okay they've been together it's just the other day the other day i saw um uh one of uh a youtube video dave ramsey and uh he was kind of going in on the on the girl because she was uh getting a place with her fiance she wasn't married yet and i thought to myself like whoa like i wonder what he would say to my situation because okay here's what i'm saying here's what I'm saying. Here's what I'm saying. I would get married. Because, dude, you already are married.

You just haven't technically done it. Yeah. Okay. Now, here's what that does. It does several things. One is it affects your relationship, and it affects your alls. It's the last, like you said, over the finish line. It's the last step over the line, and it's going to force you guys to deal with the relational issues you've got, number one.

But number two, the reason you actually called was this. It solves all your legal issues because what you're doing under California law is you, I'm not an attorney, but this is the truth if you call an attorney, is you're forming a general partnership. And both of you are on the deed, and both of you are on the loan, and if you have a blow-up and she takes off, you've got this thing, and you can't even sell it without her signature. And you can't find her because she's hiding at her uncle's in Idaho.

Or vice versa. Exactly. Exactly, exactly. But if you are married, then you would be going through what's called a divorce, and there's a process for handling this deed and getting the property out of your all's names. But you don't have, the legal thing is, like, vastly more complicated when you're shacking up than when you are married in every state, even California, which is immensely complicated, but even there. Okay.

And so, uh, but on top of that, um, I'm just being your old ugly uncle, boomer uncle, right? And, and, and I'm just loving you and I'm saying, Hey man, I, you know, know, I love you, David, and I want you to have the best life for you, for her, for those kids. And all the data and all the research indicates marriage trumps shacking up for the high quality of life, the likelihood of wealth building, the propensity to succeed in your career. All of these things are accelerated. The researchers call it the marriage advantage. succeed in your career all of these things are accelerated the research piece the researchers

call it the marriage advantage they find that people who are married versus people who are single whether shacking up or not have an advantage an economic advantage over a period of 30 or 40 years we see a lift among the marrieds versus the singles. I'm not picking on you singles. I'm quoting research to you. This is actual freaking data and stuff, like truth, in other words. And so that's what, you know, and so, yeah, that's a thing. And so what we would tell you because we care about you, not because we're thumping you with a Bible or something like that.

We're just – it just works better. Life works better this way. And you're doing it all anyway. You just got to admit this to yourself. And let me lean into something you mentioned here, brother. You said, am I supposed to just take this? No. The answer is no.

The answer is you're telling me she's got a communication problem. And you know what? She probably does. I trust you. And if I sat down with her, she would say, I've been with this guy for 10 years, and I'm not good enough. I'm unsafe. I feel like I've got to yell to get his attention.

I've got to scream, and then you hear that as a communication, and now y'all are in a dance. So you want a path forward? Here's the path forward. You walk home, and you get on a knee not to propose, to say, I'm sorry. For 10 years, I've sent you a message that this is what your value is. I'm always going to hold you at arm's length until you get. I'm going first and I'm sorry.

And I'm asking you, can we learn to communicate in a different way so that we can get married and move on with our lives together? And the last way to look at this is if one of those three kids is one of your daughters, how do you want them handled, David? Would you put up with this on behalf of one of them? For a decade? I would have run you off if you was around one of mine. Because you didn't know whether to paint or get off the ladder.

This is the Ramsey Show. dr john deloney ramsey personality number one best-selling author of the book own your past change your future is my co-host today you've heard the news we're in a recession the stock market is falling inflation's out of control all right everybody calm down if you're investing this is not a time to panic breathe don't jump off the investing roller coaster because of the gloom and doom nobody gets hurt on a roller coaster except those that jump off in the middle of the ride history shows us that the economy recovers time and time again. It has all the great crashes, and this isn't even one of the great crashes. This is just a little whoop.

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and it works for you. RamseySolutions.com slash SmartVestor. If you want to do investing in mutual funds, it's a good time because they're on sale right now. The market's down. Yeah, it's a sale. They're having a sale right now. Don't miss the sale. And that's the way you look at it when you're investing long-term, boys and girls.

So, RamseySolutions.com slash SmartVestor. So, John, more people now live together that are not married than live together that are married statistically, demographically speaking. And so when we take a call like that, then, of course, we will get the hate mail for the next several weeks in form of social media comments and so forth about me being a fuddy-duddy, which is actually accurate. That's 100% accurate. 100% true. And so it's not really hate mail it's just an accurate thing but here's the thing okay so i i remember when uh my kids were in college and they were dating their their serious people that they're going to marry kind of thing

and i started kind of wondering about because i didn't have the benefit of any of this i just got hitched you know and so i didn't have the benefit of any of this i just got hitched you know and so i didn't have the benefit of this so here's some interesting numbers you hear that 50 of the marriages in divorce you heard that yep okay that is number one not true not accurate okay but but what is interesting statistically is this if before you get married you graduate from college both of you if both of your parents are still married to their original spouse which you don't control that variable okay if you uh end up with a household income in excess of $50,000 a year. If you have children after you are married, not before you are married.

If you have children after you are 22 years old, not before. You are 90% likely to stay married if you have those variables. Wow. Isn't that interesting yeah so when you hear all the marriages all the marriages fall apart what you're dealing with is 16 year olds with virtually zero education all kinds of economic problems no incomes and shacking up and kids everywhere and you're mixing that in with the people who are living life in order, so to speak. You painted a picture of stressor after stressor after stressor after stressor.

That are removed. Yes. Then you have to do, I don't know, anybody who enters into marriage and it all just works out how you thought it was going to work out. Never. But if you enter into this relationship and there's all these other stressors if you have a level of education a level of income and you did things in the right order and you come from a background of that kind of thing oh the other one is if you regularly attend a religious service yeah jewish muslim christian

catholic whatever whatever whatever denomination you know all that regularly attend if you do that boy it goes way up right it goes way up so uh people that don't have any kind of faith walk at all uh they they don't have the uh skills that you develop when you're when you're in an academic rigor they don't uh have the income they've got this rest now does that mean you can't make it of course no it doesn't mean you can't make it i'm just saying when you take about four or five of those variables out of the equation your likelihood of divorcing is very close to zero and so we like to blame the institution of marriage this is our culture now is to is just pull apart every institution we want to blame marriage and actually there's this line of stressors right um that we

can it is a better represent representative of what's actually happening here so that's why like when that young man calls and they're getting ready to buy a house they're you know they've got three kids now they did that that they did one of two of those out of order i don't know what his income was i don't know his education level was i don't know what their background was as far as their parents goes so i don't know all those things but i do know several of the variables right there that indicate he's probably going to be successful but he's afraid yep and he's stressed he's afraid of he's afraid that that he's not going to do this right so for 10 years he's been standing with one foot on the boat, one on the dock. And you can't make up his mind whether he's going to go on the trip

or whether he's going to stay home. And, you know, that's the thing. And what ends up happening is those kids are being raised in that environment. And then they're set up for the same things. It's not to pick on him, but these are things that you talk about changing your family tree. Some people talk about breaking the family curse or the things, you know. My whole family, I hear people say, my family's been in debt all the way back as far as we can find. I'm the first person in my family tree that we can ascertain that's ever been debt-free.

I hear people say that. That's not true for me, but I hear people say that. And so they broke the chain. They broke the curse. Or I'm the first person to graduate from college. Or I'm the first person to wait to have kids until I was married. I'm the first person to regularly attend a religious service in our family tree you can start to see these things how it breaks the curses of that how it breaks the things off but those are choices that you get to make folks that's right you get to

choose this yeah and you can choose so what i loved about that piece of research was is that gosh i could tell my kids this stuff and say if you do this stuff in the right order, this is like a formula or at least a probability. You can increase your probability of success by doing this. You can increase probability of success by doing that. You can increase probability of success by doing that. And then they can live that out because of that knowledge base. Right. And so when the storms come, which they will, I've got as few stressors in the pipeline as possible.

Yeah. Based on some of those choices. I love that. Yeah, and so it's a big deal. I mean, it's pretty scary out there. So, you know, a lot of people have a lot of different views on these things, but it's not a – for me, yes, I'm a person of faith, and yes'm a christian and yes i you know i'm going to tell you what the bible says if you ask me for sure but the uh the other thing i like to look at is i love i love finding the data that kind of supports the assumptions of my faith right i don't have to just

go on the assumptions and so that's what i'm talking about here in other words god talks about being married you know one man to one woman hello hello he talks about that and so when you actually function that way you know it you can as you can assume as a christian person that goes okay then god said do it right yeah that's good and i do believe that but it sure is cool when you can find all this other stuff out here in the actual research that goes oh that must be why he said that because it works this way better that your life if things yeah i'll sit at that yes nothing else i need to add no i mean that's it that's it it's it's it's the same thing with the money stuff we teach you know borrowers slave to the lender get out of

debt you could just say because the bible said don't be a slave you know it's silly don't do it but you could all go also go oh well here's what the data says from the millionaire research study. It says when you do this, you're going to have more likelihood to be this. And you don't think like a slave anymore. And you tend to prosper in your workplace. And you tend to do this and tend to do that. And it's very interesting to me. And I just keep going to, I keep going back to that solving for peace right what are the things i can do to my

oh you gave me another piece of data that's good i'm gonna go i'm gonna go down that trail because it's gonna help my life be a little bit better i'm gonna do this because it helped my life be a little bit better and it's also we've got to stop oh that's it that's it that's a thing we've been doing for a long time let's blow it up we got to stop doing that just because we got to stop we got to stop yeah yeah yes i'm a fuddy-dy the problem is i'm a well-informed one this is the ramsey ship សូវាប់ពីបានប់ពីបានប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពីប់ពី Dr. John Deloney, Ramsey Personality, number one bestselling author, is my co-host. Mark and Stephanie are with us. They are in Portland, Oregon. And it says on my screen, you guys are debt-free.

Congratulations. Thank you so much. Thank you. Well done. How much did you pay off? We paid off $705,000 in 144 months. Wow. And your range of income during that time we started at 45 000 and went up to 310

000 and now back down to 205 cool what do y'all do for a living i'm in software sales and i used to work at automotive dealerships as a pick stops director but now I'm driving a semi-truck. Cool. Very cool. All right. What's the house worth? Well, we paid $400 for it, and right now it's worth about $750. Awesomeness. And I'm guessing that $705,000 over 12 years you paid off your house.

We did, sir. Woo! Talking to weird people. how old are you two we are 39 and 40 years old i love it and how much in your retirement accounts we have about 350 so you are baby steps million sir, we are. I'm so proud of y'all, and not even 40. Woo! That was our goal. We set a goal years ago. We wanted to be debt-free by 30, and we wanted our house paid off by 40.

So you're millionaires by 40, and people say rich people stole all their money. Where'd you steal yours? Sweat equity, sir. How much of this did you inherit? because rich people always inherit all their money we did get a small inheritance from my grandma um after we'd already paid everything off how much was the small inheritance it was about 40 000 so it's safe to say mathematically you did not become millionaires because of stealing it or because of an inheritance no sir we already passed that finish line before we received it you're pretty stinking amazing awesome so proud of y'all how's it feel it feels pretty incredible we uh you know it was kind of a

long journey to get here for sure we had all kinds of uh normal weird debt of bedroom furniture we owed the tool truck for mark's uh job in the car industry and student loans cars personal loans everything and um you know it's been a long road and we were really really thankful that we were able to get to the finish line because it was um 12 years is real it was a short journey for us yeah 12 years is a long time but that's a normal track for paying off a house is 10 um 12 years is real it was a short journey for us yeah 12 years is a long time but that's a normal track for paying off a house is 10 to 12 years that's what we find among millionaires well done so how is this altering how you live because you've been living a certain way for more than a decade and now you've got to live completely different what are y'all doing

differently you know i i think we're still figuring that out. You know, after, after so long, we've kind of just stuck to it. We've, we're kind of thinking of maybe doing some upgrades and things, but right now, at least for me, I'm kind of still doing the same thing. Here's what's so cool about being a millionaire and making a couple hundred thousand dollars a year and having no payments is, uh, you could do anything that you want whenever you want to. That's something we really learned last year is that we were really heads down focused on getting to baby step seven and paying off the house. And we were working a lot. We, you know, we're doing everything we could to reach this goal. And we realized that it was detrimental to our health, especially to Mark's health, that he was in the hospital

several times from stress from his job. And we sat down and we said, all right, well, we're six months away from Mark's goal. We want to stick with it. Or do we want to have a life changing event and pause and made the decision the next day for Mark to take a pause in his career. And he took five months off and sort of decided to reset and go a completely different direction. And had we not been on this program and not had our emergency fund and everything set up, you know, we wouldn't have had that option, but it was such a blessing to us to be able to make that life choice for his health, for our family, and we're in a much better place. And we found that, you know, making a lot of money while it's difficult, it can be done, but that's

not what it's about. It's about creating a better life for your family and yourself. Well, and that's the net result of the whole thing is you're controlling the controllables. Absolutely. So what do you tell people the key to getting out whole thing is you're controlling the controllables. Absolutely. So what do you tell people the key to getting out of debt is? You paid off your house in 144 months. Your baby steps millionaires by the time you're 40. What's the key to doing all this? Well, definitely the budget.

I will say that before we got married, I came from a family that didn't watch the finances and didn't do a budget and when we were dating mark came from family that did and and we started to talk about money and he flat out said to me he said either you do a budget or we're done dating because i'm not going to put up with this for the rest of my life and probably wasn't the best approach. I would recommend your approach, Butter Dave. You're a real romantic, Mark. But it definitely got the job done, and I got on board. So the budget definitely is key.

And I'd also say it's good to give yourself a little bit of grace and be able to step back a little bit, especially when you're in baby step six. Once you've had your nose down for a while and you're driving towards that goal it's tough to give yourself permission to spend but um we definitely did that along the way you need to that's the you go from intense to intentionality when you're in baby steps four five six and that's what you're supposed to do and you guys sounds like you did a really good job of catching the rhythm on that well done

very very well done. So what's the first big thing you're going to do to celebrate being millionaires and having no debt, house, and everything? I am planning on buying a Polaris Racer. Whoa, that's cool. Yeah, I've wanted one for about five years now, but it wasn't in the plan. But now it is i gotta tell you man i've got uh uh one of the can-am versions and it is a beast it is so freaking much i've almost died a few times with dave driving that thing around man they they are a blast uh we'd

have one couple that we're friends with also on Baby Step 7, and they have one, and I instantly got hooked the first time I sat in one. You should. You should buy that toy. That is an awesome toy, and you have earned it. I'm so proud of you guys. Very, very, very well done. Excellent, excellent, excellent job.

So good stuff. We got a copy of Baby Step steps millionaires for you because you are one copy of total money makeover for you to give away to someone and a one-year membership to financial peace university you may want to give that way or you may want to go through it we the ones are good with us we're happy for you we're proud of you very very well done who are your biggest cheerleaders probably our biggest cheerleaders are Jimmy and Kendi. I'll throw their names out. They were that couple that are also on Baby Step 7.

They were actually one of my – Jimmy is one of my lead techs at my dealership I worked at, and just somehow we found out we were both on the plan. He was already on Baby Step 7, and he just really encouraged me for the last probably four years to stick with it. Yeah, that's good. It's good to have friends that are positive. I would say Tim, our ELP as well. When Mark quit his job last summer, we were ready to, you know, spend quite a bit to get our house paid off sooner, and he kind of paused, even though it wasn't in his best interest, and said, no that that's not what dave would tell you to do let's um let's stick to the plan

and you know take your few months and then we'll get back at it but um you know we're not going to change things just because of this so i appreciate the lps as well yeah that's good that's good very well done good stuff you guys you're awesome way're awesome. Way to go, rock stars. Freaking 40-year-old millionaires, baby step millionaires, house and everything is paid for. That's a way to live right there. Mark and Stephanie, Portland, Oregon, $705,000 paid off in 144 months, 12 years where I come from, 45,000, back down to $205,000 on the income, 39 and 40 years old.

Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! Yeah! Yeah! Woo-hoo! That was a decade-long scream right there.

I love it! Dave Ramsey doesn't teach people how to become wealthy. He just teaches them how to get out of debt. Have you heard that one? This is The Ramsey Show. so our scripture of the day proverbs 28 6 better is a poor man who walks in his integrity than a rich man who is crooked in his ways. Albert Einstein said, try not to become a person of success, but rather try to become a person of value. Yes.

Mike is with us. Mike's in Jupiter, Florida. Hey, Mike, welcome to the Ramsey Show. Hey, thanks for taking my call. Sure, what's up? I have a God story for you real quick, and I have a question at the end of it. I was a chemical engineer in the state of Louisiana for about five years, working 80 hours a week, and I just wanted to be home with my wife and kids more often.

And the Lord really came into the picture, and He really showed up. So my stepdad, he'd been in commercial real estate for 35 years. He owned a lot of shopping centers and sold everything and focused on just one shopping center, about 75,000 square feet near Jupiter, Florida. And so he said, hey, how would you like to come work for me? I'm going to retire and teach you the business. And you only have to work 20, 30 hours a week. And I said, what do I sign? So I took over the property.

And right after he bought it, I remodeled the whole place, uh, bought it up four years later. We brought up the value from 12 million. I brought up the value from 12 million and $30 million. And we're in the process of selling it right now. So my question to you is he was so gracious enough, um, to give me 25% of the company. So when we sell it for 30 for 30 million, I would get 7.5 million. So my question to you is, should I take that 7.5 million, put it in debt-free into another shopping center and live off the NOI? Or should I take the 7.5 million, pay the taxes and put it in a conservative mutual fund? I would put it in a conservative mutual fund.

I would put it in a shopping center. Okay. You know what you're doing there. And I wouldn't have to pay taxes. Yeah, you can do a 1031 and roll your portion in. Correct. Yeah, and so you're going to save the taxes, number one. But number two, here's the thing. For someone that knows how to do what you know how to do and I know how to do,

which is manage real estate, and it actually was your job for the last several years, you've got 45 days in a 1031 to identify the property and six more months to close on it. Okay. Okay. Now, real estate, well-purchased real estate, meaning you get a good buy on it it's got good upside potential again you may go back in there you may you might buy a five million dollar property and put two and a half into it okay uh you may or you may do something other than that i don't know whatever but real estate that it that has a good ROI, a good rate of return,

or ROI, includes three, as you know, three types of rates of return. One is you've got the increase in value for later that you'll get. Two is you have the cash flow. And three is you have the tax depreciation. So a lot of your cash flow is tax sheltered. But that actually has a cash value because if you had that kind of cash coming at you from something else, you'd be paying taxes on it. So that actually saves you actual money today. So those three things together, you probably already know this, is called an internal rate of return, an IRR.

Okay? And the IRR on my good commercial properties, like you're discussing, is usually between 17% and 20%. The cash on cash is usually around 10%. But I've got the appreciation and the taxes in addition to that, tax savings in addition to that tax savings in addition to that but real estate has it is uh more complicated and requires more expertise than simply dumping the money into a good mutual fund with a long track record you can do that blindfolded you can't do real estate blindfolded and real estate is going to require more of your time uh i mean this is thursday as you and i are are talking and i have already four hours of my week this week invested in messing with my real estate stuff

and i don't even run it my son-in-law runs it but i mean we we've got development going on we've got purchases we've got sales we've got things going on with our real estate portfolio and so i've been in several different meetings already this week that total about four hours of my time. The number of hours I spent on my mutual funds this week is precisely zero. Right. So there's a hassle factor, and you're going to invest time. But you should, if you know what you're doing, and it sounds like you have been mentored well, you should make more money, and you're not going to have to pay the taxes for now by doing a 1031 so definitely doing another shopping center if i'm you okay you

talking about strips you're talking about strip centers right correct i was talking about strips and so our key was and and what he's taught me he's not your typical landlord and he was a great a business mentor for me and he really taught me the ropes because he taught me, he said, hey, let's turn, if you have a 3,000 square foot bay, and they can't pay rent, you can only go up so much, he said, first of all, you got to have parking. I've seen so many shopping centers with just two rows of parking. Well, there's only so many people that can go in there, and that, in turn, you can only charge your tenant so much because they're only getting so much foot traffic. You got to have the parking there, and that, in turn, you can only charge your tenant so much because they're only getting so much foot traffic.

You've got to have the parking there, and he taught me 1,000-square-foot bays is the key because if you go up from $20 to $30 a foot, that's only five more dollars. I mean, I'm sorry, $20 to $25, that's only $400 more dollars a month. Well, he always said if you can't afford $400 a month, you never had a business. Yeah. So what's he going to do with his money? He's going to, you know, he's 76 years old. He can't really move around too good anymore.

So he's just going to put it in his trust. By the way, he's got two 10-year-old twins. That's an arrogant mother. Listen, you do whatever you want to do um yeah but uh like i said my son-in-law runs all of our stuff and so if i were in the old man's shoes i might reinvest with you now that i've trained you right but i'm not saying he needs to but i i personally that's what i do obviously um uh now winston doesn't have the ownership position that you would have but uh but he will have when i'm dead but the but the uh

yeah so anyway the uh yeah yes you should do real estate and those are all the reasons so would you would you as the uncle in this situation that'd be a cool cup of coffee to say hey i would like to propose that you take the your windfall from the sale and invest it in me moving forward or let me manage your property if you want if you want to do another deal i'll run it for you yeah because you taught me how yeah and um and that way he doesn't have to pay taxes either. That's right. Today. And really it's going to be his kids.

Yeah, you're running it for the kids, and you can leave that piece of property in the trust to the twins. Yeah. In that situation. So as easy as you can leave mutual funds. Now, property is harder to divide up. You know, you end up selling the property if everybody wants their cash, right, later on in an estate situation.

But, yeah, it's a wonderful blessing. So Ken Coleman talks about this all the time, and we just witnessed it here. The art of the apprenticeship has just about died in America, and we just witnessed it happening well there. Now, it's not what you would think of as a craftsman apprenticeship, a woodworking apprenticeship, or a metalworking apprenticeship, a sculpturing apprenticeship, but that was a real estate apprenticeship. That's what happened there, an internship, so to speak.

And he paid him well for running the thing and walked him right in there and then basically handed him seven figures. That's pretty sweet. Well, and gave him some, really some ownership stake in there, and then basically handed him seven figures. That's pretty sweet. Well, and gave him some, really some ownership stake in it, a small amount, right? But, hey, if you go do well and you work hard and use these principles I'm teaching you, you're going to benefit too. Yeah. It's not a small amount, $7 million.

Yeah. $7 million is pretty big. I was going to say percentage-wise, but yeah. Yeah. But, I mean, he didn't give him controlling interest. Nope him a controlling interest you know but uh so and hats off to mike too for being humble enough to step in under um under uh a master carpenter to learn carpentry yeah a lot of folks that walk in at 26 and say i should oh i should be the president yeah submit yourself snowflake yeah you know to someone who's older and wiser and learn

something. It's good. That's really good stuff. That's a beautiful thing that happened there all the way around the triple win. So many things positive about that. And we could all take a card out of that book and learn something from it. Very, very powerful. And we're seeing a lot of that now with people abandoning higher education, moving towards the trades. We're going to see more of that in the trades thank goodness and people needing workers saying hey i'll train you come come come follow me for the next two years and i'll show you how to do it i'll show you how to do it yeah very cool if i stay here long enough maybe you will have mentored me on how to do this i'm slowly learning how to do radio that puts us out of the Ramsey Show and the books. 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. Do you love a good day, Brandt? Want to see the latest Ramsey Show videos going viral? Check out your favorite moments from the Ramsey Show on YouTube. Go watch and subscribe to the Ramsey Show channel on YouTube.