The Ramsey Show - App - How to Ask For a Raise (Hour 3)

Episode Date: December 7, 2018

The show about you

Live from the headquarters of Ramsey Solutions, it's the Dave Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I'm Dave Ramsey, your host. You jump in. We'll talk about your life and your money. It's a free call at 888-825-5225. Amber starts off this hour in Indianapolis. Merry Christmas, Amber. How are you? Merry Christmas.

I'm better than I deserve, Dave. How are you? Just the same. How can I help? I have a career question that I need help with. I'm currently with a contracting company that I've been with for four years. I do basically analysis work and they want to onboard me, which I'm so excited about. I wanted to know, I asked my boss at the contracting company for a raise and they

really can't do anything because they're in like a contract like transition. And I want to know since I'm getting onboarded if i could ask for more money um from where i'm at i currently make about 53 000 and i'm wondering if i can ask for like 60 or 65 okay i'm sorry you asked for a raise but they didn't give it to you now you're gonna ask for a raise again yeah because it's with a different like so i'm with a contracting with my boss and he's the director of engineering and then when i go to a different like it's with a different, like, so I'm with a contracting with my boss, and he's the director of engineering. And then when I go to a different, like, it's with the actual company that we've been working for for four years. It's going to be with a different person.

I'll be reporting to a different director. But you're going to be working for the same company? No. I will be employed for, so, so like the contracting company does facility work, and then the company that I'm going to be switching to is like hired on full-time. Oh, you're going to work for one of the facilities. Yeah, like I'm working for the actual company that's been doing facility work. Okay, so they've offered you a job to pay you $53,000.

Yes. And you've accepted that job? I am in the midst of it. I've got over the weekend to think about it, and they're going to talk with me on Monday more about it. Have they offered you the job? Yes. At $53,000?

No, I don't know if they've got the money. They haven't talked about money-wise yet, but I wanted to go in and have my ducks in a row as well. Okay. All right. So if you were them, why would you pay you 60 instead of 53? That's a good question. I think about the expanded roles i'm going to have there um i've

the platform like i've pretty much got to a platform where i'm at i don't hire people based on i don't pay people based on what they used to make okay so you're you don't you used to work somewhere else now you work for me and you have an expanded role whoopee i don't care okay you just took a new job that had an expanded role you just took that job so why try again you switch you guys i'm being tough on you but you gotta you gotta think this through if you'll switch shoes if you'll switch shoes with that guy or gal that's sitting there and answer this question why are you worth more? That's good. I like that. Basically, because I'm going to be taking on an expanded role with the saving money,

we'll be using that to cut energy costs. And because we'll be cutting energy costs, I believe that I should be compensated based on the savings that we are going to be able to do in the future. Okay. But don't use the phrase expanded role. Okay. Because that refers back to the old place. It's an expanded role over what you used to do. But just go, look, I'm going to come in here and I'm going to cut your costs because I know what I'm doing.

And so I'm worth this. Okay. cut your costs because i know what i'm doing and so i'm worth this okay if you come in here and show me how you can make me 300 grand i'll pay you 100 easy right okay but you got to show me you know i i think i can show you some energy savings that makes you really glad that i'm here and you're only paying me 60 grand you got a deal on me yeah exactly that's what i'm saying okay yeah you got so any you know because if you'll just be the other guy be be on the other side of that and go well of course if you're going to save us three hundred thousand dollars in energy costs and and you know you want 60 instead of 53 yeah sure your expert expertise makes you worth that then and so because that's what every employer wants to do ultimately,

is they want to make more on the person than the person costs. Otherwise, the business goes out of business. Should I be asking for more? Like, what should I be asking for? I have no idea what the job pays. Well, I just, I gave them, I threw them out a number when I first started back, and I said 50. The job market, like, basically goes up to about 70 from what I've researched. Well, that's the other thing.

You could come in and you could lay that, you could pull down some research that says, you know, this position at other places pays between 50 and 70. With my level of experience, I think I can make you so much money, you'd be happy you paid me between 60 and 70. With my level of experience, I think I can make you so much money, you'd be happy you paid me between 60 and 70. Okay. But if they can hire other people for this position for that range, then they're not going to pay you 160, right? Right, yeah.

Because they can replace about two of you for that. Right, exactly. So it's a math equation for the business, and it's not being mean, and it's not saying you're just merely what you can produce, but it is about a return on investment for that business. And if you'll think about it from their perspective, it'll help you keep your words coming towards them in a correct way. How can I add value?

I want to be so valuable to you, make you so much money that you're smiling every time you think of me that you only have to pay me $65,000 because the range is 50 to 70, and I'm going to make you so much money in energy savings here. I really can show you how I can do that, and I'm so excited about it. And, you know, we started talking about 53, but I got to looking at this, and I think I'm worth more than that because I think I'm worth more than that to you. I think I'm going to make you money, and that's how you will go at it.

This is the whole thing. All right. Mike is on the line in Indianapolis. Hey, Mike, welcome to the Dave Ramsey Show. Hi, Dave. How are you doing? Better than I deserve. What's up?

So my little sister has struggled financially, and my wife and I have helped her out in the past. Last time we offered FPU trying to explain how it changed our lives and how much better we are off for it, but she ignored us. And today she's cold and needs money because she's facing addiction, and we're just not sure what to do at this point. Well, at what point is her irresponsibility not going to be your problem anymore?

That's where our struggling. I know that in a sense we are enabling her by continuing to help, but I think that my heart keeps getting in the way, and I understand that there's part of it that is still might not be helping even by trying to help. Exactly. You're harming. Yeah. Now, I don't know what it takes to get her under control, but where does she live?

She lives in South Carolina. Okay. All right. Well, I'm going to have a talk with her that says, if I help you this time, you're going to Financial Peace University. And if you don't, we're not ever giving you another dime again, even if you're homeless. Do you understand me? You know, I'm going to get real firm with her. You're going to learn how to handle money, kiddo.

I'm your big brother, and I'm going to make you do it because I love you. And I'm not giving you any more money. If I help you this one more time, this is it. And you're going to the freaking class if I drag you there by your hair. And you just have big brother talk. I don't know how you discuss it with your sister, but that might be how it sounds. Maybe it's nicer than that. This is The Dave Ramsey Show.

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Zander takes over all the work to solve these problems and more, along with the systems to reduce your risk and protect your money if your accounts get hacked. Visit Zander.com or call 800-356-4282. It's the smartest, most affordable way to protect yourself. For the last several years, we've had as one of our Ramsey personalities, one of America's premier experts on career, on getting a job, on finding your passion. He now has his own show on Sirius XM called The Ken Coleman Show. And the way this was all born was Ken is an absolute world-class interviewer, and he started using those skills to teach people how to interview

and interviewing you when you call in on his show to help you learn about you so that you can find your passion. You can find where the 10 year from now you is happy with the current you from the decisions you've made because career is half of this equation we talk about around here. The other half is the outgo. We spend a lot of time talking about the outgo, But the income is sometimes a big part of the thing. And Ken's popularity has soared. He's absolutely on fire.

The response to the podcast, the response to the SiriusXM show, the response when he does talks around America is absolutely over the top. As a Ramsey personality, he's just a dadgum hot commodity. So, Ken, I just called you a hot commodity. Well, I got to tell you, I didn't expect to ever hear that, but I'll take it. Thank you. Well, congratulations, man. I'm proud of your success. Well, thank you.

You know, you've given me the opportunity to do work that I love, and we're seeing results of people daily getting that confidence that they do, in fact, have a role and that they can figure out what it is and, oh, by the way, make really good money and be fulfilled in doing it. And so that's what we're about. I mean, that's what our entire company is about. We had our awards luncheon earlier today, and all the award winners, they had basically the same response.

And it's, man, it's just so great to be able to do this work. It means a lot to me. I love this place, and I love my work. And I was sitting back just smiling because that's what it's all about. That's what we're trying to do on the Ken Coleman Show. So if you are on your hunt for the dream job, Ken's got a brand new resource that's going to help you. How to win the interview. It is a free online tool with five strategies for standing out in the hiring

and the interview process it's an easy to read guide it's free just go to ken coleman.com and you type in your email address we'll let you download it it's that simple how to win the interview five strategies on standing out in the hiring process ken i it's hard to find stuff like this out there. Number one, this is concise, and it's really clear in what to do. But I almost want to send it out as a precursor before anybody's allowed to come in here and interview in our company. It would save us a lot of time. It really would.

If you can't do this, don't come in. That's right. And we ought to teach this in school. We ought to teach this. We ought to teach a class on how to prepare so that you can perform, because that's what an interview is. So you've gotten pulled out of the stack of resumes. As you know, our first resource was how to flip your resume, and we've had thousands upon thousands download that. And then when you get the phone call and you get an opportunity for the interview, whether it be in person or on the phone, what we're walking you through in this guide, five tips, what you need to know.

This is preparation, what you need to expect. That's preparation. How you need to dress. That's preparation. What you need to, excuse me, how you need to act and what you need to ask. Those two are performance. And so those five tips, we walk you through with real concise examples so that you have an idea.

These are the types of questions I'm going to be asked. And when you can walk into an interview and you've done the preparation, here's what happens. Your confidence level rises. And that comes across when you're able to not be as nervous as most people are. Because let's be honest, for most people, Dave, they're not weirdos like us who like the stage, the Ramsey personality. We like being in front of people. For most people, a job interview may be the most pressure-packed performance they ever give.

Yeah. It's public speaking that they don't want to do. Yes, sir. Yeah. You're in the spotlight. Absolutely. And so you've got to be prepared. See, it's preparation, preparation, preparation. If I know, again, about the company, the mission statement, awards they've won,

why they offer the products or services they do, how long they've been around, I know the founder's story. If I know things like that, then I'm going to be able to actually have a conversation back and forth. And in moments when I get a chance to talk, as we say in the last tip, which is what you need to ask, you can begin to ask insightful questions. And if you do that, they're going to look at you like you're an alien. Yeah.

Because most people don't have anything to say when an employer says, okay, do you have any questions? Nope, I'm good. That's what hiring managers say is their number one pet peeve. Yeah. I mean, how does that make you feel? If you look back at all the years, it's been a while since you've interviewed people. But you're interviewing people in the early days, and you say, do you have any questions for me? And they don't have a question. What did that make you feel? If you look back at all the years, it's been a while since you've interviewed people, but you're interviewing people in the early days, and you say, do you have any questions for me?

And they don't have a question. What did that say to you? See, I thought this was almost pushy, this question. I like it, though. It's like you turn around and ask the hiring manager, how long have you been with the company? Yeah. That's like, whoa!

Right. And how'd you get in here? Who let you in here? Well, you know what? The reason I put that in there is this reason. I think what that says is you're flipping it and you're going, hey, I'm just curious, how long have you been here and what do you love most about this company? I'll tell you what that says.

That says that you are insightful and you want to know what this culture is like and what they love about this company. And so what it does is it flips the script. And here's what we know. No one likes to admit this, Dave, but you know it's true. We like talking about ourselves. Yeah, yeah. And it will change the mood of the room.

You're obviously successful here. What do you think you attribute that to? That kind of stuff, yeah. Exactly. What kind of people are you looking for here? I like that question. What kind of people make it here and what kind of people don't make it here? Those are my favorite two.

You ask those back to back. But again, you're sending a message. I want to be here, and if I get the opportunity to be here, I want to know what it takes to win. Because you know this. At Ramsey Solutions, we are looking for a different breed of people, and you do act differently here. If you want to win at Ramsey Solutions, we are looking for a different breed of people, and you do act differently here. If you want to win at Ramsey Solutions, we're not the average workplace. So there is a script. But the answer could be, at some places, the people that make it here work 80 hours a week.

Right, and then you go, uh-oh. I'm going to self-select out. Exactly right. Yeah, because you're putting out a vibe that says, I might not want you. That's right. And that's a good thing, too. Yeah, I've had many callers on the show so far, Dave calling i thought it was the right place but it wasn't i figured it out about three or four weeks in and you don't want that what you want to find out is in that job

interview you want to get a sense for culture and you want to get a sense for your personal fit because you know you really don't know until you get in there it's like that first date you know you think you may be attracted to a guy or a gal and you go on that first date and the game changes and i do not understand and to me it's like were you raised by wolves because i'm from a different generation how you come in here to do an interview yes well now we have a real laid-back culture dress wise okay nobody here wears ties nobody here wears suits unless they're you know going on a job interview somewhere else or something i don't know i mean you know why nobody does right and yet and so i mean i wear blue jeans every day oh yeah right sure and and tennis shoes or whatever most

days that's that's how most of us in here we're real laid back and yet i have people come in here to interview that look like they just came off a punk rock band and i'm like what made you think that was gonna work or i'll tell you it's because somewhere along the line they've bought the lie that you know oh you know don't judge a book by its cover that's hogwash of course you're gonna judge people are gonna look at you and let me tell you something. You are saying sentences from the moment they lay eyes on you. You're not talking, but the way you walk in a room, the way you hold yourself, the way you look them in the eye and shake their hand. How about a smile, for heaven's sake? Even if inside you feel like you're a throw-up.

I get that. I get that anxiety is real, but folks, you've got to think about your total performance. And when you're sitting in an interview— And don't overdress, either. Oh, yeah, now that's the think about your total performance. And when you're sitting in an interview. And don't overdress either. Oh, yeah. Now that's the worst. Yeah, because that looks like, yeah. Well, we had a guy come in and interview for a marketing position.

Well, and I'll tell you, sometimes the ladies come in and they're dressed like they're trying to make a fashion statement instead of do an interview. Don't distract me with your clothing. That's a great point. What you think looks good, you need to have some real insight from people who go, you know what, that's a cocktail party dress. This is, let's go in there and let's look.

One of our female hiring managers a while back, a lady left, and she goes, did she think we had a stripper pole? I mean, what did she think? She come in dressed like that. That's right.

I mean, it's unbelievable. What was she interviewing for? You know, and it's just, you just have to think. Yeah. It's common sense. It feels like. It's a sense. It's a presentation. It's a great thing. How to Win the Interview

is the PDF. Five strategies on standing out in the hiring process. It'll help you get the job. I promise you there's real stuff here. I loved it when I read through it the very first time. Visit KenColeman.com and you can download it very quickly, very easily. It's completely free

by the Ken Coleman. Be sure and check out his podcast and be sure and check him out on Sirius XM as well. Ramsey personality, Ken Coleman. Thanks for stopping by. Thanks for having me. There's nothing smart about smartphones if your wireless plan is blowing your budget each month. Pure Talk USA offers smarter wireless with unlimited plans starting as low as $20 per month. You never pay data overage fees and we never turn off your data. No contracts, no hidden fees.

And if you're thinking our low cost means less coverage, think again. We'll be right back. the U.S. to ensure you receive reliable coverage virtually anytime, anywhere. Plus, you can keep your same phone and number and add multiple lines to save more. We're so confident you'll love Pure Talk USA that we invite you to try our service risk-free. Just visit puretalkusa.com, enter promo code SAVEDAVE, no spaces, and receive 50% off your first month. That's puretalkusa.com, promo code SAVEDAVE. Thanks for joining us, America. Chuck and Vanessa are in Sioux Falls, South Dakota. Hey, guys, how are you? Merry Christmas.

Merry Christmas. I see on my screen you're debt-free. Congrats. Woo, thank you. Yes. Love it. How much have you paid off? $280,000.

Wow, and how long did that take? Four years. Wow, okay. And your range of income during that time? Starting at $106,000 and then up to $136,000. Cool. What do you all do for a living? I work as a physician assistant in hand surgery at a hospital.

And I'm a care pastor at a church. Wonderful. Okay, cool. So what kind of debt is this $280,000? It is student loans. Whoa! Lots of student loans. Oh, man.

And you did it in four years. Well, that's the beginning of the loans. Oh, man. And you did this, you did it in four years. Well, that's the beginning of the story. We thought we'd get rid of it quickly if we were going to make a lot of money when we graduated, but we realized after two years of repaying them that they weren't going anywhere because we're just paying the minimum. So we kind of took some drastic steps. And after we had our first child, left jobs that we loved in a city and state that we loved and moved home, moved back across states and moved in with family and started just going after it, but still weren't living with doing the cash budget and following all the guidelines you talk about. So when we took FPU about four years ago, then we really kind of kicked it even in the higher gear,

and that's when the 280 happened. Gotcha. So what did you learn there that moved the needle? What turned the corner for you? Because you were trying before. Yeah, I think what kind of moved the needle is after we the corner for you because you were trying before yeah i think uh what what kind of moved the needle was uh after we took the stu class our church offered it and um yeah it was just it was that was a turning point right when we realized we need to get on

this plan uh because what we were doing was not working and uh yeah we just started uh tackling it and uh it yeah that was the beginning so the secret to getting out of debt then is what because that secret kicked in four years ago yeah the secret chuck had said too that the look on my face when we had to add up our non-mortgage debt for the fpu class he said my face was just a face of hopelessness, and he just made him sick. And so that was enough to get him passionate, which then in turn got me passionate. So the key is to stick with it and stay passionate with the budget and using cash. Mm-hmm. Mm-hmm.

And then Chuck was going to mention the other part. Okay. Very cool. What were you saying about that? Oh, that we thought that it, just sticking with our goals, too. We had goals. We were staying on the same page with those, and all that plays a role. Yeah. Absolutely.

Yeah, so I think it was just devastating just to see her face. You know, you try to get her motivated and say, you've got to get mad. You've got to get mad about this. And it just didn't do anything. But when we started talking about, you know what, if we want to do this, if we want to be great givers, if we want to go and serve other people around the world or whatever, it's like we need to be debt-free in doing that.

And then that's really when I think she started getting really passionate and exciting about it. And it was fun just to watch the turn. You could see it after we had tackled some of the loans. You could see it. She was going up to people at Target or at the bank with the envelope systems and just telling them, you need to get on this plane. You need to get on this plane.

Well, once you discover the cure, you want everybody to be cured. Right. I love it. Well, way to go, you guys. We, you want everybody to be cured. Right. I love it. Well, way to go, you guys. We're very, very proud of you. How does it feel now that you got rid of $280,000? Oh, it feels amazing. I never thought this day would come.

We heard debt-free screams, and we listened to iHeartRadio and all the people you interview, and I think, oh, they don't have nearly as much as we have, and how could we do this? But you just say, you know what, we've just got to keep chipping at it, keep chipping, and it's amazing. It's amazing to get to this point. Yeah, and I think it's just been good just to dream again, you know, for a long time. It was like we've got to pay off the debt, we've got to pay off the debt. And that's all we focused on for the last few years. But now it's like, oh, we're debt-free. What does that mean for us?

What does that mean for our family? So just to dream again has just been awesome. Well, very cool, you guys. We're proud of you. Congratulations. Got a copy of Chris Hogan's book for you, Retire Inspired, a number one best-selling book. And we're going to send you that now. And then after the first of the year when Everyday Millionaires comes out,

we're going to send you one of those too because I think you're on your way to being Everyday Millionaires. You're right on track here. Yeah. You know. Pretty cool stuff here. Thank you so much. Yeah, and be outrageously generous and put yourself in a position,

like you were saying, Chuck, where you guys can serve. So very, very well done. Great job. All right, it's Chuck and Vanessa, Sioux Falls, South Dakota. Incredible. $280,000 paid off in four years, making $106,000 to $136,000. Count it down. Let's hear a debt-free scream.

Three, two, one. Let's get paid! scream three two one i love it love it love it love it very very well done open phones at triple eight eight two five five two two five well the new tax law has gone into effect. 2018 is the year, and you're going to be doing your taxes right after the first of the year. A lot of you should be. And do you know that one of the most common deductions for business is gone? Yeah. Business, meals, and entertainment.

Gone. The good news is you don't actually have to understand everything about the new tax law. If you run a small business, though, there's some wonderful changes in this law that are going to save you a lot of money if you know they're there. I mean, it is a small business-friendly tax change. I can tell you that. We've been looking at ours, and I'm like, well, thank you. Yeah.

Good stuff, man. I mean, it's real legitimate money. And anytime they let me keep more of my money, it's a good day, right? Because, by the way, it is mine. So I did earn it. You didn't. So that's how this works, right? So, hey, if you need some help with the new tax law to make sure you're getting all the advantages,

whether you've got a business or whether you're doing it as an individual, either one, check out one of our endorsed local providers for taxes, one of our ELPs. See, ELP stands for endorsed local provider. It's someone I endorse local in your area that provides help. It's a network of people. We vet them locally here. We've got a team of people that run the E.L.P. and all that and so forth. So the deal is simple.

You just simply have to get with somebody that is going to walk you through this and help you. And, you know, you don't DIY your taxes, especially where there's new tax law. That's it. It's that simple. And you jump in, and, you know, that's how this is done. And so, you know, just check DaveRamsey.com, click TaxELP, and, you know, one of those folks will sit down with you and make this happen. You're going to save money on taxes like you have no idea. I mean, your standard deduction doubled this year. If you're just taking the standard deduction, a lot of you that have been itemizing for years are not going to be itemizing this year. I mean, because you've got, what is it, like $24,000 or something for the married couple now.

I mean, it's crazy. So the amount of charitable giving and other write-offs you would have had to have had, you know, your home mortgage interest or whatever, to be able to justify mathematically not taking the standard deduction. You'd have to have a lot of it. But you need somebody to help you add this up. So just click ELP at DaveRamsey.com. Click Endorsed Local Provider at DaveRamsey.com. And, you know, we'll help you out.

It's that simple. This is The Dave Ramsey Show. Thank you. Our scripture of the day, Deuteronomy 6.5, Love the Lord your God with all your heart and with all your soul, with all your might. Ronald Reagan said, We're blessed with the opportunity to stand for something, for liberty and freedom and fairness. And these are things worth fighting for, worth devoting our lives to. Yes, they are. Good stuff. Open phones at 888-825-5225.

Merry Christmas, America. We're glad you're here. Craig is with us in Kansas City. Hey, Craig, welcome to the Dave Ramsey Show. Hey, Dave, thanks for taking my call. Sure, what's up? Quick question. I've always hated debt, and growing up, I remember back in high school, my dad telling me that you should always have a car payment.

Just not have the car. Make a car payment to yourself. Always put it in your bank account. So growing up, I was always a saver. I read a book called Multiple Streams of Income years ago. And it talked about passive income. And that just got me burning for that. I'm a heavy equipment mechanic, so I work on big construction equipment, and I

know that my body's going to give out before too long climbing up and down on tracks. So I was wanting to get some passive income. So we now have rental houses, and I was wanting to get your take on rental property. I have two rental houses plus my house. I do have a mortgage against all three. They're all locked in on 15-year mortgages. I got about seven years left. My house is at 2.75%, and the rentals are both about 3.5% on them. Both houses do cash flow about $500 a month each.

I'm very mechanical inclined, so every time I have an issue with them, about 95% of it I can fix myself, the HVAC, the electrical, water heaters, plumbing, whatever I can do myself. That's perfect. How have you done with tenants? I'm sorry? How have you done with tenants? I'm sorry? How have you handled the tenants? Have you done well with them?

We've been great with them. That's good. How old are you? I'm 42. What's your household income today? About $110,000. Way to go. You're doing great.

Okay. And so what do you owe on your personal residence? What's the balance? My personal house is $98,000. What about rental number one? Rental one is $61,000. Rental two? It's $54,000.

Okay. So $200,000 has you 100% debt-free, and you make $110,000, and you're 42. Exactly. Exactly. Let's just start working to pay them off. Well, that's what I'm 42. Exactly. Exactly. Why don't you just start working to pay them off? Well, that's what I'm doing. Early. Yeah, exactly. I do every time I get extra income. We have two young kids.

My daughter is now in daycare, obviously, and that's expensive, and we've got other things going on. I was listening to your show, and the thought of being debt-free just sounds ridiculously cool. Yeah. So if I paid the rentals off, I could pay my house off and be debt-free. But I feel like we're in a pretty good position. You are in a pretty good position. You're not about to file bankruptcy. You're not stressed. But you see a future that is better without any debt here, and I do too. As a matter of fact, I'll go a little bit further into the future and say, when all of these are paid off, the cash flow will be so incredible, you'll be able to save up like you did for those old cars and buy another rental with cash. And the third one will be easier, and the fourth one will be even easier,

because every time you do it, you've got these things cash flow like a bandit, man, when you've got no debt at all. And so, you know, if you work 10 more years, you could end up with a bunch of paid-for rentals making $110,000 to $150,000 during that 10 years. You could end up in a really sweet position. So it sounds to me like you're a natural saver, and that's caused you to be so successful. You're very successful at this. Very proud of you. You did a really good job. What I would tell you to do to fine-tune it is a couple things. Correct. personality has led you to this success, but not a system or a plan. And so pretend like I hired you for $200,000 to manage this money tighter and better and more carefully.

So let me throw a couple numbers at you. Making $110,000, if you guys just looked at your budget and said, by the time I'm 46, I could be 100% debt-free, that'd be $50,000 a year for four years. That's doable. Yeah. But you're going to have to do that on purpose. That's not going to happen on accident because of your saving personality.

That's going to happen only with a detailed plan and a written attack plan. So I don't care if it's four years or if it's five years if it's 40 000 a year for five years you know you're 100 debt free there in your future and i'd probably knock that if i was doing 50 a year i'd probably knock that little one off first and just get her done and then i may knock those two rentals off ahead of that house and see you're paying payments in that too so you're gonna it's it's gonna you really have about a four-year plan probably uh if you tighten it up you might it might take you a little more might between four and five we'll just leave it at that i don't care you work it out but see you're

not even 50 years old at that point all this stuff's paid for right that feels pretty good i was thinking the same way it's good to hear somebody else think it because you know i just need the reassurance we're doing the right thing. Yeah. I think we're on the right way. Yeah. Because, see, I don't think your body's going to give out to the point you can't do the odds and ends maintenance around these rentals until you're really old.

I agree. Now, your body may not allow you to do your current career more than about 10 more years. I don't know. That's up to you because that's hard work. I mean, that's hard physical work. But, I mean, tinkering around with a heat and air or a dishwasher that's broke is different than what you do every day. Right. And our end goal is 55 be retired.

Okay. My wife is a school teacher. We are just now, she's two weeks away from getting her master's degree. We cash flowed all that, so she'll get a raise there. At 55, with my job, I can take an early retirement with a reduced pension

plus my 401, plus she's got her capers. What is the value of these two rentals? What's the current value? One of them is about $185,000, and the other one is about $160,000, $165,000. Okay. So how many $150,000 rentals can we pay cash for after we get these three loans paid off between now and $55,000?

So I bet you could have, I'm just doing some quick, I bet you could have three or four more. Okay. And then at that point, we're done. Yeah, you're done. We're not going to have anything to worry about. Your pension and the rental income off of five or six rentals, yeah. Okay. But see, you just lay the math out.

You can do it. Right. It's just going to have to be, I just want you just lay the math out. You can do it. Right. It's just going to have to be. I just want you to fine-tune the plan. You kind of, again, wandered into it by your nature, which has caused you to be very successful. And, again, I'm not dissing you. I'm very proud of you for doing that. But let's take it further, and let's go all the way to, you know, let's have you about a $3 million net worth, 100% debt-free,

by the time you get to about 60 years old. Because, see, all these rentals are going up in value during this time, and these rents are going up. And the more they go up and the more the value goes up, the easier it is to pay cash for the next one. It just gets fun. It just gets ridiculously fun. This is it so um yeah this guy right here this guy's right on the tipping point y'all hear it he's right on the edge he's on the bubble

he's just about to go over the edge into everyday millionaire status and then once you get that then the the jump from $1 million to $5 million, doing things the way he's doing it, again, it's just common sense. And his wife's a teacher, and he works on heavy equipment. Don't tell me you can't be great in America. You just have to be intentional. And his daddy taught him growing up, always pay a car payment to yourself, never pay a car payment to the man. In other words, always be saving up and paying cash for whatever you buy. Did you hear him say it? That's what led him to being as successful as he is. Some of you are just

out there running around like a bunch of juvenile delinquents with your money. And meanwhile, the rest of us are sitting around like grown-ups watching you. This is just silliness. That puts this hour of the Dave Ramsey Show in 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. To find one near you, head to DaveRamsey.com slash show.