The Ramsey Show - App - How Do I Negotiate a Raise With My Employer? (Hour 3)

Episode Date: June 24, 2022

Dave Ramsey & Ken Coleman discuss: Negotiating a raise, Buying a company, Should you buy homes for your adult kids.   Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6

Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host, Ken Coleman. Ramsey Personality is my co-host today as we answer your questions about your relationships, your mental health, your job, your career, and your money. Overall, your life right here on The Ramsey Show. Open phones at 888-825-5225. Brian is in California. Hey, Brian, welcome to The Ramsey Show.

Hey, Dave, how's it going? Thank you for taking my call. My pleasure, sir. How can I help? Yeah, so I'm just going to read out this thing that I wrote here. It says, I'm debt-free. I have an emergency fund. I have a business emergency fund as well, and I'm on baby step 3B.

And I just want to know if I made the right decision. I've worked for seven years in the construction industry. Since the age of 18, I am now 25, making really good money in my own business. And I feel bad like I let my ex-employer down. Did I make a good decision leaving my old company? My family makes me feel bad like I charge too much. I have many clients that are happy to pay my rate, and honestly, I charge what an average professional handyman charges in my area.

So what did you used to make? I made $30 an hour. And what do you, well, okay, so what's that equate to a year? Like $55,000. Okay, so you're making $60,000 a year, and what do you make now? Now like $120. Okay. So I'm confused where the mistake might be.

Yeah, it's just my old company called me earlier today, and they want a decision, and they want to know if I'm going to come back because initially I told them I was going to take a break. No, I don't have brain damage. All right. Am I missing something, Coleman? Well, I don't know why your family is making you feel badly about leaving this company when you've doubled your salary and you're working for yourself.

I mean, my goodness. I just don't understand. I'm not sure what's missing either, but you don't need to feel guilty or bad. I don't know if they're worried about stability, but there's this myth sometimes with our friends and family members who don't have an entrepreneurial spirit. Maybe they've never worked for a true entrepreneur. Maybe they've never done it themselves. And so they think government jobs or, well, if you work for a bigger company, it's more stable. The fact of the matter is, is that you are more stable working for you with the skill sets that you have.

Because I've got to tell you something. During the pandemic, what we saw are folks like you were booming with their businesses and their work. So I don't know what's missing either, but you need to stay working for yourself based on what I've heard. So the only reason you would go back to work for the other company is because your relatives say you charge too much and it's evil that you've become wealthy doing this at 25 years old or or you would go back to work there because somehow you have some kind of misguided loyalty to a company that used to pay you less than half of what you make now yeah it's more the other last part You know, I feel like Yeah No, no

There's never been anyone that worked at Ramsey That left here and made double That I suggested they should come back for half Never Never have I suggested that Because I actually like the people that work here And if they can make double somewhere else I would like that for them

Generally speaking, these days That's not possible because we pay so dadgum much now but in the old days when we were getting started we didn't pay a lot and people would leave and go make more money and i just had to help them leave and go i love you and go make more money that's awesome go do it uh but i don't have to do that these days thank god but the um yeah because but but you need to keep doing what you're doing so uh brian i had a relative uh several years ago that loved me deeply and she was a very very sweet little lady and her husband had worked in corporate america at the same job for 38 years and she was so thankful that he had this steady job. And every time I would see her, she would ask me when I was going to get a real job.

The last time she asked me that, in that calendar year, I made more in that one year than her husband made in his entire working lifetime. But she was still waiting on me to get a real job. Yeah, I hear you. And so it was not because she was bad she actually loved me and she was worried about me because she was worried it was unstable and that being self-employed is unstable and what you find out when you're self-employed like you are especially with when you're a handy man and you're probably a one or a two-man show you find out that you are actually the secret sauce at the end of the day.

At the end of the day, you are what really you can count on. And by the way, it was that way all along. It was that way all along. When that guy worked for Corporate America, that was my relative, who was a sweet man. He was a nice man. I'm not belittling him at all. But it was just the mathematics were humorous of her point of me getting a real job. And she just desired security to the point that she misjudged where security comes from.

And security comes from your ability to get up, leave the cave, and kill something and drag it home. And you have proven your ability to do that, young man. I'm very proud of you. You should keep doing what you're doing. Yeah. Well done. Thank you.

So much, Dave. Thank you so much. Thank you. thank you god bless you wow i talked to a handyman the other day you made 300 last year oh yeah it's a stinking because you can't get nobody to show up if you just show up you could charge about anything you want to charge it's pretty amazing it's a premium service and you know just a young man right there wouldn't you love to have him in your house fixing stuff oh i would definitely pay him sweet spirit him extra and let's let's just let's just belabor this point about the size of a company equating to stability we've all seen large companies completely evaporate or lay off people by the thousands okay i mean peloton did it recently they were the hottest uh one of the

hottest consumer products and during the pandemic until they weren't until they weren't remember enron go look that story up a public company so you know this idea that well i'm going to put my fortune in somebody else's hands and that's stable well that's just a bunch of garbage especially when you work for yourself you got sound financial principles here's the thing when you work for yourself. You've got sound financial principles. Listen, here's the thing. You always work for yourself. When you work for a company, you just have one client. That's right. You've got one customer. Yeah.

That's it. And when you work for yourself and you have a bunch of customers, it's no different. And so I've got millions of customers. But when you work for a company and James has one customer, as far as I know, we're his only customer, Ramsey Solutions. And that's not not a bad thing that's not the end of the world but they this idea that somehow that you're not self-employed at the end of the day your responsibility your life is your responsibility and when you acquit when you turn that responsibility over to someone else when you dispatch it to someone else in the name of security.

And you say, okay, I no longer have to worry about that because that company is going to worry about it. You just sacrificed something. So we tell our people around here, they're all self-employed. We say it all the time. It's one of our 14 core values. You're self-employed. You're self-employed.

You're self-employed. Act like you're self-employed. Act like you own this place. Act like when you see a piece of paper on the ground, pick it up like you own the place. Be responsible. Act like you're self-employed. Act like you're self-employed. And even if you're not technically, you'll always prosper with that mentality. This is more important than ever. While some circumstances can't be controlled, there are items within your budget you can take charge of,

such as your health care costs. For nearly 40 years, Christian Health Care Ministries, or CHM, has provided a budget-friendly means of sharing for medical bills when our members need it. Learn more by visiting chministries.org slash budget. That's chministries.org slash budget. Christian's chministries.org slash budget. Christian Healthcare Ministries is a Ramsey Trusted Provider. Have you ever wondered if an online will is right for you? Do you need a trust?

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RamseySolutions.com slash wills quiz. Take the free quiz. Check it out for yourself. Open phones at 888-825-5225. Blinds.com gives us our question of the day. They have a 100% satisfaction guarantee. That means even if you mismeasure or you pick the wrong color, they'll remake your window blinds for free.

They got free samples, free shipping, and new promos all the time. This is a great company. I bought blinds from them for our patio not long ago. Check them out. Promo code Ramsey. You'll get the best possible deal. Today's question comes from Elaine in California. She writes, I've been working as a commissioned salesperson for a small family-owned business for two years and have not received a raise.

I received lots of positive feedback from the owner. Since cost of living is on the rise, I would like to ask for a raise, but I'm uncertain of how to determine an appropriate amount to propose. I currently have to meet a $28,000 sales goal before I begin receiving commission, and I gross $950 a week as a base. My fear is that if they increase my base pay, they'll also increase the $28,000 goal. How do I evaluate at which point these adjustments would cancel each other out and amount to no financial benefit to me? And how do I start these negotiations? Well, the first thing I'm going to address here, Dave, is I don't like the word negotiation. I know what she means, but I really want this to take a posture of conversation, not negotiation. The other thing is that as a guy who has spent a lot of time in my professional career on commission,

in this case I would not be having a conversation about cost of living. I would be talking about maybe a higher percentage of commission based on sales goals. I would talk about the cost of living, and I would have some real facts here and kind of say, okay, here's what's going on. This cost has risen, this cost has risen. But even then, unless it's something very dramatic, and I'm guessing here, I'm trying to read into this, that inflation is really not what I would call a cost of living rise. Even though it is, it's like everybody's facing that. You didn't move anywhere. This is not a change in location for a company to where cost of living is a big difference. So here, I'm going to sit tight and focus my conversation around how can I increase

my commission rate based on performance. I think when you're in a sales position you really aren't capped unless you don't have a good product or good service to sell so your your raise is effective when you are i knew you were gonna i almost said that way that's your line yeah i mean yeah so i can't say that you are when you're on commission you want to raise go make more sales yeah get better at it hello yeah you know and if you if you work for us and you came in we would be nice but that's basically what we would tell you yeah you want to raise kill more things and drag it home we share with you what you kill and drag home get up leave the cave kill it and drag it home can we help you do that better sure we'll try to help

you do that better can we furnish you more some more marketing assets or better leads we'll try to talk about that anything we can do there. But at the end of the day, you have the best possible scenario. Go sell more. What does that involve? What does it take to make that happen? That's right. And, you know, is there something that the company has, the product line has,

that is a blocker to you selling more. I might ask for them to help lower some of those blockers. You know, this computer you gave me sucks. I can't get anything out. The email's inconsistent. I can't communicate with my customers, and I'm losing sales because I can't do that. We had a phone system one time that sucked. It was killing sales, and that's not fair to the salesperson.

And a couple of them griped about it. And I'm always a champion of the sales guy because I've been a sales guy my whole life. And so I went, hey, rip out the freaking phone system. Put one in that will actually make sales. It's driving me nuts here. We're losing dadgum money. Because here's the thing. The best thing you want to make your employer smile, you make more sales.

They don't mind me giving you more money by the way that's how you start that conversation thousand dollar a year base too baby doll yeah i mean she ain't bad that's not exactly straight commission talk to people in the real estate business and let me tell you what they make if they sell no houses no money there is no base it's called straight commission and so they be out selling houses is what they be doing and i by the way dave i would never ever ever ever ever ask for more base i'm on straight commission i don't sell any books i don't make any money yeah i want more commission ken your own your own commission i am actually would you sell some more books

yes we're working on it but you know the reality is is that people don't understand that they think they think base equals security that's a false that's a false choice there nope you don't you don't have any problem if you sell a million books you don't have any issues about security no it won't come up you know so if you make a million sales or whatever it is you're doing you know it's just it's how we're gonna do more how are we going how are we gonna scale this how much more can i work work? How can I be more effective? I mean, if you've got four leads and you close three of them, you don't have a closing problem. You've got a lead problem. How are you going to get more leads?

If you've got four leads and you close one out of 100, you've got a problem. Your conversion rate sucks. So you need to learn to close the sale. You know, man, sales is the best business in the world. Absolutely. It's my favorite career track for somebody. I wish I could talk young people, all of them, into going into sales. Because you just control your own destiny.

Salespeople make more than any other category. They make more than doctors and lawyers. It's true. Salespeople. I mean, you talk to some medical sales, device salespeople. They've got $300K. Pharmaceutical sales, $300Kk car dealers or car salespeople right now here's 150 200k i met a guy the other day that's just killing it and a very nice guy

we were introduced by mutual friend when we were done talking i said to my buddy i go what does he do he's in sales what does he sell he goes you're not gonna believe this he sells all those gigantic like pipes that i don't even want to call it a pipe but like those giant cylinders that they put in under roads when they're doing new roadwork i mean giant concrete like commercial construction that guy called that thank you sells those things and is crushing it sure sure because those are expensive items government's paying for them right it's big money. Yeah. So, I mean, it's a great field to go into because you can control your own destiny more clearly than you can just about anything else.

Because someone else controls the purse strings everywhere else. But my goal is to have salespeople around here that are making more money than they've ever made in their life. Because that means they're helping more people. They're serving more people than they ever made in their life, because that means they're helping more people, they're serving more people than they ever have in their life. That's correct. And my other goal is for salespeople that are not doing that to have skinny kids. That's correct. That's right.

And you want a salesperson that comes to you as a leader and says, hey, I want to make more, but I know that I make more when I make you more. How can we do that together? How can we do that better? Touchdown, I'll help you do that. They love that. I'll do that all day long. And by the way, that's not a negotiation.

No, it's not a negotiation. It's a conversation. And that's the key, posture. And basically, that's true of any raise. That's correct. Don't ask for a raise. Because, you know, how can I make you more so that I'm worth more? Yes.

So you give me some of it. That's the conversation. How can I get better? How can I get more valuable to the organization so I help you win? And as a result, I win professionally and financially. Corporate America is different. Corporate America is stupid. They're not going to do this stuff because they get politics and toxic crap and all this garbage going on.

But normal businesses, the owner or the manager of the business would like to bring in more revenue. And if you bring in more revenue, they would love to share it with you so you do it again that's the trick i mean when you get somebody performing you want them to do it again and again and again and again and so that that's normal human beings run the business now again corporate america's stupid they forget all this stuff and you can't make more than the guy in the corner office will bull crap if you you sell enough stuff, you can have the corner office. We'll kick him out. I mean, you know, you get her done, baby. Salespeople are my favorite people. I love them.

Because they're serving. There's no way you can sell a whole bunch of stuff without serving. Oh, you can't on the short term. You rip people off. But I'm talking about over a career, you've got to help people. When you help people, they give you certificates of appreciation with president's faces on them. This is The Ramsey Show. so so kid coleman ramsey personality is my co-host today thank you for joining us america

open phones at 888-825-5225 sydney is with us and sydney is in phoenix arizona says on my screen you're debt free congratulations thank you so much way to go kiddo how much you pay off i paid off 65 000 in 38 months good for you way to go and making what kind of range of income during that three years and two months in the three years i started at 35 000 and i doubled my income during that time to 70 yes wow what do you do for a living yeah Yeah, I'm a sports reporter with USA Today. I started at a local paper and then worked my way up to where I'm at currently right now. And that all started with my debt-free journey three years ago when I was looking at the numbers, trying to move into my own place, and realized that I could not afford it or much of anything.

Okay. So the debt-free journey says I need to make more money so you got after it. Yes I instantly started applying for new jobs and then land with the company that I am right now and then have been there ever since. Way to go! Yeah this journey has been a blessing in more ways than I can count. I'm so proud of you. What was the uh how old are you? I am 27 years old. What was the debt? What kind of debt was the $65,000? So most of it was student loans. So $46,000 was student loans. I also, before the debt-free journey, I was leasing a car. So I

turned that back in, got a used car, paid that off, student loans, and then some medical bills as well. But majority of it was student loans. You rock, kiddo. What kind of used car did you get? I got a Toyota, or excuse me, a Nissan, a Nissan Sentra. All right. Nice car. Yeah, I love it.

Yeah, good for you. How does it feel to be free at 27? It feels great. At first, it did feel a little surreal just because I've been working towards this goal for so long. And, you know, in the beginning, it just seemed so unattainable or borderline impossible. But just working the steps every day, you know, of course, it was hard, but really just staying plugged in and reaching that goal just feels literally like such a huge relief, such a huge weight off of my shoulders, and I feel like it just couldn't have come at a more perfect time. So I'm really, really excited and super grateful.

Yeah. Way to go. Way to go. I'm proud of you. So fun. Thank you. Sydney, I've got to ask you, as a sports reporter, you cover a lot of great athletes. What is the parallel, the metaphor through the debt-free journey that also applies to champions in sport that you've noticed during your own journey? So right now I live in Phoenix, so covering a lot of the Phoenix Suns, we're doing really well. But I'm originally from California, so I will relate it to Kobe Bryant when he talks about that Mamba mentality. And even on the debt-free journey, how you say to be Gonzalo intent. So just every day waking up knowing that this day, even, you know, I worked two jobs during the whole time and, you know,

my day started around five in the morning. So just getting up every day, even if I was tired or didn't necessarily feel like it, just knowing that this day was for something greater and just having that mentality to just continue to go after it. So I would definitely say that it took a little bit of mama mentality to get where I am right now, and additional to being gazelle intent. Way to go.

Good for you. You're amazing. You are a rock star man i'm so proud of you very very very well done who were your biggest cheerleaders um i would say i had the cheerleaders with my friends and family but i do want to give a special shout out to my two friends duana and maurice they were the ones who actually lent me your book total money makeover and got me on this journey. And we ended up doing it together. So it was really, really such a blessing just to have someone my age doing the same journey on it. You know, when you see a lot of people

really living their life or not making the sacrifices that we are, it was cool to have that support system on the same journey. We ended up being debt-free within a couple weeks from each other, and you will actually be able to meet them soon. They are coming to see you and do their own debt-free stream. So, yeah, they were a really big help during this time. What do you tell people the key to getting out of debt is? I would just say just first setting that goal. When I set my goal, like I said, it just seems so impossible. But once you set that goal, once you really sit down with the numbers and just work the baby steps, it's possible.

So I would definitely say trust the process. That was the most important thing, just knowing that like what you're saying is true and you'll get there. It just takes time and dedication and patience so definitely trust the process is what i would tell everybody out there um even if you think that you can't do it just fake it till you make it and before you know it you'll be dead free well push through even if you don't know if you're going to make it that's different exactly way to go having so much faith to do it. You're an amazing young woman.

I'm so proud of you. Very, very, very well done. Thank you. We've got a copy of Baby Steps Millionaires for you, How Ordinary People Built Extraordinary Wealth, How You Can Too. That's the next chapter in your story. You'll be a millionaire before you know it at this rate. Well done, well done, well done.

Also, another copy of Total Money Makeover. That way you can give it away and stir up a ruckus for somebody else. So good stuff. Good stuff. All right. It's Sydney in Phoenix, Arizona, 27 years old, paid off $65,000 in 38 months, making $35,000 to $70,000. Doubled her income while she was doing it. Count it down.

Let's hear a debt-free scream. Three, two, one. I'm debt-free! Yeah! scream three two one i'm that free i love it yes very cool sharp young woman twice she said in that call that i trusted the process you hear that from a lot of athletes these days. Of course, she's obviously a sports journalist, but you hear that a lot of athletes across all walks of sports, and it is a beautiful way to describe the clear path, which are the baby steps.

This is a process that works time in and time out. She said trust the process, trust the baby steps. It is a process. It is a process. And when you do it, it works. Kelly's in Phoenix. Hi, Kelly. Welcome to the Ramsey Show. Hi there. I'm so grateful to be on. Blessings to you both for all that you do and everything you put your hands to for fighting so hard to help people live free. Thank you. So I'm considering buying an agency.

So I have a career for 22 years, and I'm 51 years old. So I'm considering, I'm going to have to look at what it's going to look like when I just am just way too tired to be in my career. And so I was looking to buy a company, and they're going to be giving me all the information I need. But the question I really have, because this is not something I've done before, so I need to figure out how to look for what the ROI is, how much to offer them. I don't know what that looks like.

What type of agency? I'm sorry, what was that like. What type of agency? I'm sorry, what was that question? What type of agency? It's an interpreting agency. Okay. All right. The language agency. Gotcha.

Okay, cool. Well, a good rule of thumb is this. Four to five times the net profits after everyone has been paid, including the manager. And so if the owner is working in the business and is not paying themselves out and creating the net profit, and then their only income is their net profit, you would insert a manager's salary and reduce the net profit by that much. You see what I'm saying? Yes, I do. manager's salary and reduce the net profit by that much you see what i'm saying yes i do so if i wanted to buy that from nashville and someone else run it for me turnkey with someone else operating it and i'm not over there making all the decisions there's a good general manager running the agency

for me uh what is the net profit then after I paid them? And if the owner's operating in there, that would be an extra expense that's not in the current P&L. Does that make sense to you? Correct. Then your net profit times after that, your taxable income, times four would be a 25% rate of return times five would be a 20% rate of return. And you're going to want to make that at least on a small business because it's not going to be, it never turns out exactly like you think it's going to turn out. And so that's a high rate of return on a traditional investment, but a small business is a much more risky investment.

And so if the thing's making 100 grand, it's worth 400 to 500. Max. Max. Max. This is The Ramsey Personality, is my co-host today. Our scripture of the day is 1 Peter 5.10, and the grace of God who called you to his eternal glory in Christ, after you have suffered for a little while, will himself restore you and make you strong, firm, and steadfast.

Dr. Martin Luther King Jr. said the ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy. One of his better quotes, and he was a quote machine for sure. Wow, what a man. All right, Kay is with us in Denver, Colorado. Hey, Kay, welcome to The Ramsey Show. Thank you. How are you doing welcome to the Ramsey Show. Thank you. How are you doing today? Better than I deserve.

What's up? I lost my husband seven months ago to cancer. Oh, my. And we never decided whether we were going to purchase the home for our three kids or whether we were going to make a large down payment for them. And now I'm kind of like, what do I do? Your three children are grown and you wanted to buy them homes as adults? Is that what you're saying? Yep.

Yep. That's what we're saying. Okay. All right. Wow. So you're obviously in a very good position financially. I ran into this book in 2009 called Total Money Makeover. And it just stopped Frank from my, we own a business and it just stopped our life

and we just turned around and got ourselves debt free. Wow. Wow. Wow. Okay. I'm so sorry. How old was he? He was 64 going on 46. I love that. I want that on my tombstone.

I love him already. What a great guy. Oh, my gosh. And you have three kids, and they're all grown. Mm-hmm. Are they all married? They're all married. Okay.

All right. And what is your net worth now? $4 million. Good for you. Okay. And so you're talking about buying a house price of what per kid? I have one in Portland, so kind of $500,000. I have one here in the Denver area, so another $500,000.

And I have one in Minnesota, and I think I could do $300,000. Okay, or $500,000 or whatever. So $1.5 million would leave you at $2,500, right? Yeah, but that includes my home. Yeah. So cash, I have $3 million. Yeah, that's a pretty big hit. Cut your cash in half. But a million I just got from him.

So in my mind, you know, he's paying for two out of the three kids right now. Mm-hmm. How old, and you're how old? 57. How old are they, the kids? What's the range? 38, 36, 34. Okay.

Are you planning to stay in the business? Are you going to sell the business? What's that paying you? I'm planning to stay in the business, and it could pay me anywhere from, you know, like this last year I did, I really didn't work and I made 50,000. Um, I'm sure I won't go back like I was, so I don't know, 50 to 150, 200,000, probably what I can make a year. But for the last five years, we kind of retired in 2017 because this cancer hit four times. And so I would work, and that would be our play money.

We'd take the kids here, or we'd do this, or we'd do that. Okay. I love the idea of helping the kids and um uh i but but the pre the caveat has to be that you're okay first and um a million and a half out of this is uh it it's it's it's it's pushing my fear button a little bit for you okay it's not a million and a half out of 11 million. It's half your cash. And so I'm probably going to do this in two stages if I'm you, like a max of 300 per kid.

And so that uses a third of your cash, not half of your cash, right? And that might buy the one in Minnesota or wherever it was, the full house, I don't know, and be the down payment for the other two. And then you're working and making $200,000, and you look up and your net worth is $5 million five or ten years from now, and you pay the other two off, you know? So if I was going to buy the kids a home, I was going to keep it under a trust, and I was going to have the house.

So they couldn't borrow against it, so they couldn't, you know, ever get in trouble. And so if I do that, I kind of lose that. I had a friend that paid for his kids' houses, and all he asked for was a letter from each of the kids and their spouse promising to never borrow a dime again of any kind. And in return, you get a house. And you're going through financial peace and so forth, right? And so that's the commitment on their part.

Rather than trying to protect them from themselves, the best way to protect them from themselves is not be somebody they need to be protected from and so if they're not if they won't be willing to commit to not turn around and mortgage it i don't want to give them one so the other um the other piece of this is i have one that's um good to fair with money one that's, and one's fair to terrible. So you're going to have to prove to me that you're worthy of this by quit being fair to terrible. Because otherwise I'm giving a drunk a drink. I have no desire to

give somebody a house that's going to turn around and it be a curse to them rather than a blessing. The whole purpose of this is to be a blessing and and i agree and we you know we agree to that and i understand that but what if they can't qualify for a three hundred thousand dollar home or two hundred fifty thousand dollar home no well it may take a little while to execute all this which will also give you time to grow some more wealth no one says you have to do it all today if they're not ready. Okay. We started the discussion assuming, I was assuming they were all ready, but I may want to rehab the behaviors of one of these

and get commitments from the other two, and this might take a year, during which time your money is invested and it's going to go up, and, you know, because you're probably not touching any of this. You're probably just going to make enough to live on, I suspect. Mm-hmm. Yeah, that's what we've been doing. One of the things I've learned is that generosity sometimes is hard work. Surprisingly.

It's not giving somebody twenty dollars at the gas pump surprise and delight you know random generosity this is three hundred thousand bucks to somebody that you love and that you know you could be doing harm to if you don't do it right so it's going to require a process and you're grieving and they're grieving so um yeah i don't think the husband you're describing to me is going to give the kid that's misbehaving with money money was he that guy was he in the neighborhood no he wasn't but his biggest pet peeve is all these kids rent and as you know rent is crazy right now and it just that was just his thing. I agree. I'm a real estate guy, too.

I like it. I love the idea of them all having paid for houses. But I want that to be a blessing to them. And that entails them, A, handling money well, B, committing to never borrow money again. Otherwise, it undoes everything that his legacy, your legacy that you're trying to do is doing. So I would just let this unfold a little bit over time here let's give this a little time you guys continue the grieving process it takes a little while to breathe um you're doing awfully well on the phone here thank you for that that's um because i was

about crying just listening to you um but the um yeah sitting down with them and going okay guys i don't know what i'm doing right now but I'm kind of thinking out here in the near future, uh, fall next spring, something like that. We need to be talking about doing this and here's what I'm thinking. And here's my worries. And, uh, here's what I think I'm going to ask you to do. And y'all start processing that. And, you know, you can do whatever you want to do, but that's the way we would probably

do it around here if we were doing it so there you go wow ken coleman good show today thanks sir good job to james to ben to kelly zach in the booth i'm dave ramsey your host we'll be back with you before you know it in the meantime remember this is ultimately there's ultimately only one way to financial peace and that's to walk daily with the Prince of Peace. Christ Jesus. Dave here. You can find all of our shows with the Ramsey Network app on your smartphone. It's the only place to listen to the entire back catalog of episodes.

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