The Ramsey Show - App - How Should I Use My Savings? (Hour 3)

Episode Date: September 4, 2020

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🎵 Music Playing 🎵 Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studio. This is the number one talk show in the world, in my opinion, The Dave Ramsey Show, where America hangs out to have a conversation about your life and your money. My name is Anthony O'Neill and co-hosting with me today is the one and only Dr. John Deloney who has the number one new podcast in the world right now the John Deloney show it's not the Dr. John Deloney show is it yeah we really wrestled with how to make it creative and so we we got our creative brains together you know there's a lot of creative folks here at Ramsey Solutions and

after months of wrangling, we came up with the uber creative Dr. John Deloney Show. So it is Dr. John Deloney Show. Yes. So it's not the John Deloney Show. It's the Dr. John Deloney Show. That's right.

It is. I see it right there on the screen. The Dr. John Deloney Show. That's so creative. Hey, you know what? We leave it up to the creativity folks here. They call themselves the creatives. And, man, they can sometimes just come up with stuff.

Guys like me and you, mere mortals, we never would have thought that of. It's wonderful. I'm trying to tell you. So, listen, if you all want to call in and have a conversation with the Dr. John Deloney and the non-doctor, Anthony O'Dell, give us a call. 888-825-5225. 888-825-5225. 888-825-5225. We'll be with you on this hour answering your questions around life,

money, you know. We take all the hard questions, man. Me and you, every show that we do together. We get some doozies, some tough ones. We get some real tough ones. And I've only cried once but we've had multiple people cry hey it happens sometimes life happens to all of us right hey speaking of you may not have a doctor doctorate degree but i was going through some of

our stuff here in the office and i see you're on the bill on a big time speaking event with gary v and a couple of other rock stars. Tell me about this. Man, it's just a great one, man. I'm completely honored to be partnering with Teachable, teachable.com, where they teach people how to start a business. And if you have a business, how to really use the online world correctly. So they reached out to me about a month ago and asked me, like, hey, would you mind coming on here and teaching our people, um, how to be good stewards with their money? How did, you know, if they make money, what can they do? How to live below their means? How can they flip their money? How can they use their money wisely and avoid debt? And so I'm excited. Gary V is on there with me. Uh, Dr.

Nicholas, uh, Dr. Nicole is on there with me. Nicole Walters is also on there with me. And I'm one of the keynote speakers as well. But then they have about 50 other speakers. So I'm just grateful. That's cool, man. I'm glad that you are there representing the message of reality, the message of real math, and the message of freedom with folks trying to start businesses and doing it the right way. I'm glad that you're there speaking truth into that.

I'm trying to do it, man. I mean, I told them up front, say, hey, I'll get on there and talk, but I'm going to teach our message. And my message is no debt, build wealth, and do it right. Don't even start a business with loans. I'm going to teach them how to do it without borrowing money. So if you want more information, go to teachable.com forward slash Anthony. That's teachable.com forward slash Anthony. The tickets are like nine bucks. And I want to encourage you if you're a part of this tribe and you really want to grow your online business,

go check them out and rock with me. I would love to see our Dave Ramsey tribe with us. So teachable.com forward slash Anthony. Give us a call at 888-825-5225. Let's get this conversation going. Let's go out to the beautiful city of Salt Lake City, Utah, and have a conversation there with Charlie. Charlie, good afternoon. How can Dr. John and I serve? Well, I just wanted to say thank you so much, firstly, for taking my call. I'm a very humbled man.

I'm very happy to get your knowledge and get your financial advice because I need a little help. I've been reading the books and trying to do the right thing, be a good steward of the money. Just got married. Me and my wife are 30, 31. Oh, man. Congrats. Bought our first home together. Thank you very much. I really appreciate that. Bought our first home together, trying to consolidate our finances, trying to get our debt in order, both still working full-time, thank the Lord, through this COVID nightmare. And basically my question is, I have enough money in our emergency fund or our savings fund to be able to completely make us debt-free.

Pay her a little bit of credit card debt that she still has left, pay a little bit of mine, which is ours, I know now, since we're married. Look at you already getting there, Charlie. Way to go, brother. I'm listening, and I'm taking your guys at your word. I completely understand that and believe in you. So a little bit of credit card debt, no student loan debt, a little bit of car payments left. What's the total debt? Okay. So right here, total debt we have is going to be $8,000

in combined credit cards. And then you combine both of the vehicles that we still have left to pay is going to be at 9,000. So total 17,000. Okay. 17 K. How much do you have in your savings account now? Right now, currently I have exactly $17,500 in our rainy day fund. $17,500 in your rainy day fund. And what's your annual income combined? Our annual income combined is roughly $85,000 per year. Are you all both stable in your jobs right now? We are both stable in our jobs currently right now working full-time.

She had to transfer working from home and I am a contractor so I work a standard government 9 to 5 okay and so in her job there's no foreseeable issues coming up with that in the near future correct correct okay so Charlotte I'm gonna tell you something I think you already know the answer but but I'm also going to tell you something too that's you already know the answer, but I'm also going to tell you something, too, that's going to be a little shocking. You're not going to use all $17,500 of that. You're going to use $16,500 of that because I want you to keep $1,000 in your emergency fund. So when you hang up the phone from me, Charlie, I want you to take out $16,500.

I want you to go out $16,500. I want you to go to wipe this thing out. And then when you get paid here, probably sometime either this week or next week, because the 15th is right around the corner, you're going to take the other $500, pay off that debt, and then you're going to get aggressive with getting your savings back up

to at least minimum three months of reserve. Okay? Okay. But I love the fact that you're asking the question, and I love the fact that I believe that you're going to hang up the phone and you're going to do this. Have you all taken Ramsey Plus Financial Peace University from us yet? Unfortunately, no.

We just found out about your podcast a month ago. Okay. All right. So this is what we're going to do. We, Dr. D, and I are going to bless you and your wife with a free Ramsey plus for a year. Okay. And I, what I want you to do is I want you and your wife to sit down there and to watch this together.

I want you all to get on there, pick a, pick a Tuesday night, you know, make pizza at the house. Don't go buy any piece. Okay. night you know make pizza at the house don't go buy any pizza okay make pizza at the house get you a coke maybe a diet coke like Dr. John loves and and watch this together you're going

to have Dave Ramsey myself Chris Hogan Rachel Cruz and I believe that with you all becoming debt free here within the next today and possibly by the end of this month, I really want you all to have a solid, solid foundation that's going to really set this marriage up to be healthy and productive. And this is a beautiful start.

Oh, it's going to give them language to dream together. It's going to give them language of freedom together. And it's going to be something that they can accomplish step by step in their young marriage. It's awesome. Man, this is awesome, man. Y'all, 888-825-5225. Dr. John Deloney, Anthony O'Neill, we're here to have a conversation with you. For over 20 years, I've recommended Zander Insurance and their term life programs.

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well, they're there to help. It's all about serving you like no one else so you get the protection you need. There really is no excuse not to get this done. Call 800-356-4282 or go to zander.com. You pick the path to getting your family protected. Going out to Greenville, South Carolina. We're going to have a conversation here with Alex. Alex, good afternoon. How can Dr. John and I serve? What's up, guys? First of all, I want to say thanks for taking the call.

Oh, man, thanks for giving us a call, man. How can we help? Yes, sir. Okay, so just to give you a little context, right now I'm on baby step number two. Okay. And working on that and hopefully be done with that in the next six or so months um because i gazelle intent which i plan to do uh and then i'll move on to step number three and then i really want to save up for a down payment for a

house okay you know and i want to i feel pretty settled in the area I live and, you know, just kind of want to invest in that. So I guess my question is, even for the emergency fund, I don't want to have that nor the saving up for my down payment in the same account as my debit card. I want to put it somewhere else just to protect it against me. And we agree. Where do you want to put it? You sound pretty sketchy, Alex.

I think that's a good – I'm just kidding with you. But yeah, we agree with you too, man. That's a good idea. Yeah, I definitely don't trust myself. So that's my question is, number one, is where do you recommend I stash that? How old are you, Alex? 26. 26.

Okay, cool. And so the main principle we teach here is store it in something like a money market account. It's not going to be attached to your checking account. You get a little bit more interest rate on there. And I personally do not store mines in a money market account. I actually store my emergency fund. And when I was saving up for a home, I actually store mine on an online savings account that gives me a lot more interest. So those are called high yielded savings account, and you can get that online. And so you have an option. Okay. You can

store it in a money market account and you can go to your bank and have access to that. Or if you want to get somewhere like around, right now with covid and stuff going on interest rates online are about like 1.2 to 1.6 uh when i first got into it i was getting interest rates all the way to maybe 2.5 to 3 percent wow yeah but they are coming down now i'm gonna be real there but i believe once everything comes back down and things get back to normal, and as things get back to normal, they will go back up. So I would store your emergency fund and your house fund on an online savings account or a money market account.

You choose from there. Okay. But before that. And just look them up and just, I guess, just Google highest paid online savings account and you'll see a lot of accounts come up.

You got stuff out there like Ally and a lot of great banks out there that are offering some good interest rates. Good question, man. Thanks so much for calling in. Yes, sir. So do you remember life for those of you who have

gone through FPU, Financial Peace University, do you remember life before you got in to FPU? The money fights, the sleepless nights, hiding the fact that you were totally out of control. Thankfully, that's all in the past now, but there are millions of people out there who are searching for help.

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I love it, man. Let's get back to the phone. Let's do it. You feeling good about that? Yeah. Let's go to Fayetteville, Arkansas. I have a conversation with Grant. Grant, good afternoon. How can Dr. D and I serve? Hey, guys. Thank you so much for taking my call. I really appreciate it. Oh, man. Thanks for calling in.

My question is, so I'm 21 years old. I'm in the last semester of college. much for taking my call I really appreciate it oh man thanks my question is so I'm 21 years old in the last semester of college down here and working full-time at a startup investment firm for about a year now and so moving into graduation and stuff I've got my safety fund and everything fully funded, and currently my paycheck is usually going between my IRA and my savings for a down payment on a home. Good for you, Grant. Good for you, brother. Thank you, thank you. And so my housing is covered by a university scholarship until next June,

so I was wondering if I should forego a little bit into my retirement IRA savings and try to turbocharge my down payment on my house. Yeah, you're 21 years old. How much do you have in your savings account right now for your house? So my emergency fund, I have $10,000 in that. And in my savings for my home right now, I have approximately $13,000. Okay, cool. So we're not touching or even talking or even thinking about the emergency fund.

So right now you only have $13,000 that you can use to go towards your home. How much of a house are you looking at purchasing in the future? And how long? So is it a year from now, two years? What are you thinking about? Yeah. How long? So is it a year from now, two years? What are you thinking about? Yeah, so my plan is next summer, whenever my university stipend runs out, I'll be looking to purchase a house. And kind of in my housing market around here,

I could get a smaller three-bedroom, two-bath home for around $150,000 to $170,000. Okay, $170,000. Okay, so $170,000. And last question, are you going to be there for at least three to five years, man? Yes, yes. I'm really stable with the company I've come on with and plan to be here for a longer than that. Okay, all right. So if we look at $150,000 and times that by 20 percent, you're looking at thirty thousand dollars is what you what you would need to put down. If you're going to put down 20 percent, if you put down 10 percent, you're going to need right at about 15 in between 15 and 16 thousand dollars.

So you have two options here, Grant. OK, would you being young? No debt. You have you have an emergency fund of ten thousand dollars i don't have a problem with you pausing um to aggressively save for your down payment house we call that baby step 3b here's the thing i want you to think about though there's no rush to get into a house at your age right now okay so if i was you rather than trying to rush to get in there in one year uh because you don't have to do it i would take the opportunity to do both i'm going to invest and while i'm investing i'm going to save some money to go towards the house so instead of forgetting there in one year it may take me two years but throughout those two years i've still been investing into my future and i've been able to also save for the down payment of my house.

But if you're like, Anthony, I really want to get into this house when my college stuff comes up, then that's fine too because you don't have any debt and you've already done the principles. But I'm just saying a little extra credit. I would take two years to where I can do both, but you can't do either or. Sounds good? Yep, sounds great. Thank you. Hey, Grant, where did this come from? Who put this in your heart and head? You are not a normal 22-year-old.

I agree. A 22-year-old who is working full-time, finishing up college, figured out a way to have the university pay for their room and board in a startup, and I'll go ahead and have an emergency fund, and you know what? Why not? I'm going to go ahead and start planning for retirement and home buying. Who put this in your heart and head, man? Oh, my father. He has been an avid Ramsey fan for as long as I can remember, and he has drilled it into

my head. So on behalf of two guys, Anthony and I, who've got good father figures in our life, give your old man a shout-out. What's his name, and what does he mean to you? His name is Jeff. Dad, thanks for everything you've done for me there, and thanks for setting me up for success. I love it.

Last question. Are you single? I am. Not for long, brother. Not for long. I love it. Last question. Are you single? I am. Not for long, brother. Not for long. Fayetteville, Arkansas. Ladies, y'all better go get this young man right here. He's single.

He got about $23,000 in that account. Come on now, ladies. Y'all better find him on Instagram, YouTube, somewhere. Man, I love it. That's a sharp young man. That is a sharp young man. You only hear those kind of stories right here on the dave ramsey show Going out to Dayton, Ohio, we're going to have a conversation with Sierra.

Sierra, good afternoon. How can Dr. D and I serve? Hi, guys. Thank you so much for taking my call. So I just turned 32 the first of this month. I'm a mother of four. I'm divorced with some health issues, which makes, you know, a steady work, steady income kind of difficult. But my question is a little bit where I'm at now. I do have a savings, but I'm just kind of off track, I guess, is where I'm getting at. Do you have the Financial Peace University?

Have you taken the class? Have you walked through the steps with the community? Are you just trying to piece this together from what you've heard on the radio and podcast and whatnot? Yeah, exactly. So tell me what your financial situation is right now. Okay. I recently moved in with a roommate back in April. And she's currently not charging me any rent,

which is awesome. But the money that I would pay for rent, I'm saving. Okay. So I'm putting away like it's half of the house payment, which is saying, you know, she has to make that house payment anyway.

So that's why she's like not charging me that. What a saint that is, man. What an angel for you right now. She's amazing. She's helping me. How much debt are you in, Sierra? In my opinion, it's not much.

I have no, like, collections or anything, but I do have student loans, which equal, like, $5,500. Okay. Is that it? Do you have anything else? No. Okay. So you only have $5,500 in debt right now. Where do you work?

Correct. I work through a call center. I work from home. I just started with that a couple months ago. And how much are you making a year there? Since you just started, what do you think you'll be making a month? Let me ask you that question. Maybe $26,000 annually.

$26,000 annually. 26,000 annually. Okay. So what do you want to do, Sierra? Yeah. You're in a precarious situation. How many little kids do you got? I have four. I have an 11- and 12-year-old who stay with my ex-husband, though.

Okay. And so you have two that are living with you. And how long ago have you all separated? Our divorce was final April of last year, so about a year. Okay. And so you're living with a friend. You're in what I would call an angel situation where you don't have to pay rent. This isn't going to be a forever situation.

And you've got two little ones that you're trying to navigate a new job that is, I'm just guessing, is a hard job. It's a soul-sucking job, but it's one that, man, it's got to be done. And somebody in your situation is making it work, and you're doing it from home while also juggling two knucklehead, fun-loving, right, little maniacs. What do you want to do? Where do you want to do? Where do you want to be? Well, I want to be able to move out of here by April. Up next year? I just want to make sure that, yeah. The 21? Okay. And I'm working on my business degree. So I'm hoping, you know, I won't finish that until 2022 though.

But anyway, I just want to move out, be sufficient and continue to work for all my goals. I want to invest. My goal is to invest in a franchise and then take that revenue and into other investing opportunities down the road.

So Sierra, here's where we start. We start with baby steps. Absolutely. Right now, here's the facts. We make $26,000 a year. We have $5,500 in debt.

How much money do you have in your savings account right now? Well, my savings, I have $1,700. Okay. All right. So here's what I want you to do. Take $700 of that and go ahead and pay off seven hundred dollars worth of your five thousand five hundred dollars in debt. I want you to follow the baby steps because baby steps turn into a job. Jogging turns into sprinting and running. I want you to get into franchise and business if that's what you want to do.

But right now, what I want you to do is really start attacking this debt. Now, here's the thing. When you hang up the phone for me, are you home right now? I'm home. Okay, cool. When you hang up the phone for Dr. John and myself, I want you to cut off your phone. I want you to cut off your computer. I want you to tell your babies to leave you alone for at least an hour. And I want you to sit down and write the vision down on paper that you just gave John and I. And I want you to write it down in detail.

I want to do this. I want to do this. And I want to do that. And here's why I want to do it. And then I want you to write that down and copy it three times and put it in three different places where you see it at least three times a day. And every single day when you wake up, Sierra, you are going to read those things and you're going to attack your debt.

You're going to get on every dollar budget. You're going to go ahead and take Financial Peace University. We've given away two of them today. You know, we won't give away one more. Kelly's going to be upset with me, but I like you. And so Kelly's going to give it to you. You're going to take Financial Peace University for free on Dr. John and myself. You're going to get on every dollar budget.

Thank you so much. You're so welcome because we want to help you get there. When you start your business, your franchise business, you're going to call back into the Dave Ramsey show and you're going to say, Dave, I don't want to talk to you. I want to talk to Dr.

John and I want to talk to Anthony because a year ago they helped me get on track because it starts with you, Sierra, but it starts in your mind first. So we can give you all the practical stuff. But if you don't get the wisdom that's in your head and you really use that and you really get that clear vision, you get a clear path, which Ramsey Plus is going to give you the clear path, then when you get that information, oh, man, it's smooth sailing from there. You're not going to be a single mom struggling to get through the baby steps. You're going to be a single mother that's cruising through the baby steps. You're building wealth, and you're giving your kids a bright future. And speaking of kids, Dr. John, speaking of kids, and so hold on.

Kelly's going to give you the information. She's going to take care of you. But speaking of kids, no parents want their kids to experience a panic of being unprepared for a crisis. But teaching them how to be smart with money can feel like a huge job. I mean, and I know it can because, oh, man. Anyways, we've got your back, though, right here at Ramsey Solutions. With our fully digital self-study courses, you can rest assured that your team will know

the right way to handle money and never make sure the same money mistakes that you made will be made by them. Ken Coleman and myself did an amazing job putting together, helping young people learn how to get a job and also make smart money moves. So listen, parents,

I want you to go to DaveRamsey.com forward slash self-study. Again, that's DaveRamsey.com forward slash self-study. And you're going to see the middle school and high school curriculum there and also a career curriculum. And I'm not trying to brag about the person that's on the screen.

But that guy who's on the screen has a lot of energy. Your kids will not be bored. They're going to laugh. But while they're laughing, they're going to learn something. And I wish, Dr. D., I wish my parents gave me something like this. That's exactly right. And it's no surprise that the education crew, our education team, is having some of the best months they've had in the history of this company.

The word is getting out all across the country, especially during lockdown, especially as people are having to homeschool and come up with new curriculums. What an extraordinary way to not only teach some of these core subjects, but to put some wisdom that will change the behaviors in the hearts of your kids and keep this legacy change going on forever. Yes, yes. Remember, parents, the caliber of your child's future is depending upon the choices you make right now. If you want their future to be bright, make the choice to give them the education that they need to be successful in their adult lives.

Go to DaveRamsey.com forward slash self studies. That's the best choice you can make when it comes to their financial future. This is the Dave Ramsey Show. 888-825-5225 Dr. D and myself are sitting here having a great day the scripture of today if the iron is blunt and one does not sharpen the edge

he must use more strength but wisdom helps one to succeed. Ecclesiastes 10.10. I'm going to read that one more time. If the iron is blunt and one does not sharpen the edge, he must use more strength, but wisdom helps one to succeed. Again, Ecclesiastes 10.10. Paul Coffey says, nobody's a natural. You work hard to get good and then work hard to get better. I like that one.

I love it too. And then, Anthony, we've got today's Blinds.com question. Blinds.com, find out for yourself why Blinds.com is the number one online retailer of custom window covering. You get free samples, free shipping. If you're an idiot like me and you measure wrong, they will take them back and send you some new ones. And with the new promos they run every month, you'll save even more.

Use promo code RAMSEY to get the best deal. Rules and restrictions apply. So this one is for you. This question, Anthony, comes from Stacy in California. She visits DaveRamsey.com to ask, My daughter starts college and we figured she would get money through scholarships or grants. She was not approved for anything except loans. I'm a single mom, but I'm doing okay financially.

The loans she qualified for have high interest and fees. I have enough savings to pay for her school. My question is, should I pay for it, loan her the money, or another option? My older child did not go to college, so I also don't want this to be unfair. I'm not a fan of you depleting your savings account

for your daughter's possible future. Here's the thing, mother, and anyone in America listening who may be in a similar situation. If you have a savings account

and you are fully invested into your retirement and your savings account does not go against your emergency fund, I mean, you just want to be generous. Yes, I have no problem with you helping your child go to college. You're not paying for all of it, and you're not going to tell your daughter, you know, you're going to pay me back. This is a loan. We don't teach debt. Especially not in families. It destroys families.

No, no, no. We give it. Here's the thing I'm doing. I'm having a conversation with my daughter. Hey, daughter, you didn't get the scholarships? Okay. This is what I can do. I can pay for 40% of your school. I can pay for 60% of your school, but you need to come up with the other portion. You need to get the scholarships. Okay. This is what I can do. I can pay for 40% of your school. I can pay for 60% of your school. But you need to come up with the other portion.

You need to get a job. You need to sit down. And you need to come up with a game plan to really help this. Because this is not my future. This is your future. And I'm willing to sow into your life. But what I'm not going to do is put my future at jeopardy. Because you can go off to school and quit.

And so sit down, have a conversation, have a real honest conversation, guide her along this process, let her know where you can help and put some put some requirements on her to step up for her future. I love you recommending that kids, young people, have to have skin in the game. You know how many guys have ownership of their life? Then it's not, there's no value to it if it's just for free. Right. Look at high school kids, most of them.

Look at high school. It's just something I got to do. Yes. Right? Somebody else is paying for it. Somebody else is invested in it. This is just the thing I got to do. Yeah.

And if you treat college the same way, then I've seen thousands and thousands of colleges, it's just something I got to do. And the ones who are paying for it, the ones who are grinding it, especially I see this with adult learners who go back to school. Hey, I'm putting my money in this. I need to learn a thing here, right? I'm learning skills. I've got skin in the game on this one.

Moms and dads, you do not do your kids any favor when you just give it to them for free right yeah you know and and i know youtube social media probably going to kill me for saying this but um you know like like right now we don't have a student loan crisis problem we have a parenting problem okay we have parents who are raising these kids up to make them feel entitled because i'm your son because i'm your daughter i deserve this you know you've you've paid all my bills all this time you've done this you provided this you everything i said that i wanted you've done it mom and dad so you're gonna do this too you know what and that's not happening with my child i'm gonna tell you that right now my my child's gonna learn mama first because i know that this has to happen she's gonna or he's gonna learn daddy next and after that he's gonna learn

or she's gonna learn work the word work you ask me for money sure loans you work for it loans you have some skin in the toy that you want to buy the shoes that you want to buy whatever that is and I don't care what it is if it's ten dollars out of a hundred dollars something let them feel the energy and and the process of working to get something because when they hit the real world if you don't give them that proper education up front the world ain't giving them nothing how much do you see with college students that they get tunnel visioned and locked into a single school and that becomes the end all be all when i read this question that was the first thing i thought was my daughter wanted to get loans and i mean want to get scholarships and grants it didn't happen so instead of saying

we can't afford that like you would with a car or like you would with a toy you just say okay then we're going to go have to figure out other ways to make this dream happen instead of saying, it's not in the cards for you. We thought this was going to happen. So it's going to be a community college for two years. Absolutely. And that's one of the things I talk in my book, debt-free degree, that it doesn't matter really where you go to school. It really doesn't. The only thing that matters is how you finish and that is debt free so if your dream is to go to harvard let's say for example amazing if harvard gives you a full ride scholarship go okay but if harvard doesn't and you can afford to go to this two-year community college and pay cash

for it you go there you know because harvard doesn't make you a better individual i don't care what no one says you can come out to me if you want. I really don't care. I know people who graduated from a prestigious school, but they're not prestigious people. I know people who graduated from a community college, transferred to a local in-state school, and they are just prestigious. They are quality. They are hard workers. You know, what you put into your experience is what you get out. And that's one thing that I'm teaching young people and even parents that don't get so hung up on the name of the school. Get hung up on the price of what can we afford and we stick to that. And wherever you go, you give it your all, not just your all.

You give it one hundred and ten percent because what you put in is what you will get out. And I know several doctors, several lawyers. As a matter of fact, my doctor, she went to a community college, transferred to Tennessee State University. Then she went to Belmont to finish her master's program, doctoral program. And, man, bro, she's an amazing doctor. But she didn't start off at Vanderbilt. She didn't start off at these big schools and have all this debt. She's debt-free and making good money. and have all this debt. She's debt free and making

good money. Trust me, I know. That's fantastic. You're the only man in America that says, hey doc, before I take advice from you, how much do you owe? She says, I don't owe anything. You're my doctor. You're the doctor for me. I like it, man. I like it. Yeah, man. She knows

what I do. She was like, you know what? I agree with what you're teaching, Anthony. I did it and I'm a doctor. I like it yeah man she knows what I do and she was like you know what I agree with what you're teaching Anthony you know I did it and I'm a doctor I like it and I just believe man that we have to we have to start teaching young people early on

that you define your success you define your future I know several people who are very successful and they didn't go off to a four-year community college they went off to a welding welding school they went off to a trade school and they're making six figures uh they're making a half a million dollars a year you know the greatest asset you have is your mind. It is your mind. What you do with that will determine where you go.

And I'm not saying education is not important because I believe education is the most important thing. But how we get the education, that's where I have some disagreements with. Cool, man. That's where I have. Man, you know what, Dr. D? It's always fun doing this show with you bro well i appreciate you helping me get smarter a little bit hey man you're helping me get smarter you're the doctor you know i'm trying to get there one day you know what's your next um

youtube series coming out what you got going on man you know i got some stuff going on we just finished the uh all white panel um with uh It was a very strong conversation with yourself on there. That's making some interesting noise. I'll put that out there. If you guys have not checked that out, head over to my YouTube, youtube.com forward slash Anthony O'Neill. You see myself and Dr. John sitting there having a conversation about some of the things that's going on in America right now.

And I just wanted to sit down and just hear how white people are thinking, you know, and it's such a great conversation. So go check that out. But Dr. D man, thank you so much for letting me rock with you today, bro.

And same with you, man, man, man. I want to thank our producer, James child and our associate producer and phone screener, Kelly Daniel. You guys remember the caliber of your future will be determined by the

choices that you make today. So please make the right one. All right. This is the Dave Ramsey Show. This is James Childs, producer of the Dave Ramsey Show. You can listen to Dave, Rachel Cruz, Chris Hogan, or the rest of the Ramsey Network anywhere with the Ramsey Network app on your smartphone. Catch all of our full shows, browse by topic, or send clips to your friends. Head to the App Store and download the Ramsey Network app today.