The Ramsey Show - App - How to Get out of a Car Lease (Hour 1)

Episode Date: July 10, 2019

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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, 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 am Dave Ramsey, your host. Thank you for joining us, America. It's a free call at 888-825-5225. That's 888-825-5225. You jump in. We'll talk about your life and your money. We appreciate you being with us. So there are 27 million small businesses in North America today that make up about 54% of the gross domestic product, meaning about over half of our economy is produced by a small business. The vast majority of those small businesses are owned and operated by families, family business. And if you are

running a family business, you work in a family business you might be entering into a family business you're thinking of going in business with family and you have family business questions questions regarding family and working with family and business we're going to do a special entree leadership theme hour in a couple of weeks for family business questions. It's something I'm really interested in because obviously we are a family business. It's something we've been studying and teaching on in the Entree Leadership materials for some time. So a family business theme hour. If you've got questions about that and you want to join in on that hour,

go ahead and send our associate producer kelly an email right now the email address is dave on air at davramsey.com no spaces no dashes no caps caps don't matter dave on air at davramsey.com and just put family business in the subject line you can put your question on there or you can have kelly get back to you either one and we'll make you a part of one of the callers that hour we're not going to tell you what to say or anything like that we just want to schedule some of you to be on the air that hour so we can fill up that particular subject and make sure that hour is uh is good for everybody that's listening a family business hour send your questions or your um questions or your way of participating with us somehow

to DaveOnAir at DaveRamsey.com. Elizabeth is with us in Tuscaloosa, Alabama. Hi, Elizabeth. Welcome to the Dave Ramsey Show. Hi, Dave. How are you doing? Better than I deserve. What's up? Well, I know that you answer this question a lot, but I feel like it's something that Well, I know that you answered this question a lot, but I feel like it's something that's really important to my husband and I. We bought a house last year, Dave,

and bought it before we started following you and had bad credit when we got it. So, of course, you know, the mortgage company loved us, gave us a very high payment based on our credit scores, and it's about to eat us up. It's about 35% to 40% of our income. And in addition to that, in my job, the company that I'm currently working for just filed Chapter 11 bankruptcy. And my husband and I have our emergency fund. We've cut back on expenses where needed, but that kind of has us worried because nobody is really telling us anything. And we have kind of pondered with the idea of selling our house and moving because we've put a good bit down on our house.

It is definitely where we live is a very high market based on schools. And we feel like we have been told that our house will sell very quickly. So we're just kind of going back and forth if it's a decision that we need to maybe wait on or jump on, just depending on, you know, where we fall with my job. So which of these decisions takes you to where you want to be five years from now, ten years from now? I want to be completely debt-free and not have to worry about the bank knocking on my door or being in a situation to where we're having to decide, you know, are we putting more for our children's college or trying to pay, you know, a bill down the road. I just want, my husband and I have prayed about it and talked about it,

and we don't want this cloud of debt over our head any longer. It's more than a cloud of debt. It's a house payment that is making you stressed. Yes, extremely. We're worried about it nightly, thinking about, okay, we're having to cut corners, which is fine, but we've got one credit card bill that's left, and then we have this mortgage payment, and we just want to make sure that we've got one credit card bill that's left, and then, you know, we have this mortgage payment. And we just want to make sure that we're doing the right move and the move that's going to be best for our family.

Yeah. Well, just listening to you, it sounds like you already made your decision. You just want someone else to kind of come alongside you on that. And I'm not afraid to do that. I mean, you're just telling me over and over and over again this house is not a blessing. Dave, it would be a blessing if we had waited, I feel like, until we were financially stable. With the current payment and the current interest rate and the current payment, it is not a blessing. It's not. The house itself might be, but the situation around the house that involves this mortgage

makes this house no longer a dream and turns it into a nightmare. You're right. You're right. You're right. And so, yeah. I think you take a step back. You sell it. You take a step back and get back on solid ground, calm down a little bit. And you may be right back in that same neighborhood in three years, but in a completely different way, a wise methodology that doesn't put you in a pinch.

Okay. You're right. Yeah, you know, you let the credit heal because you paid off all your debts and you're sitting there paying rent earlier on time and rent something inexpensive and just go, hey, we're going to go on a two-year, maybe a three-year adventure with our family that may be the wisest thing we've ever done. Okay. You know, it just doesn't sound like this is causing fun.

It's not. You know? And we have two little ones, ages three and one, and we want to be able to get out and, you know, travel with them and just, you know, nothing too expensive, but be able to go out and just have fun and not be worried about house payment in the back of our mind, if that makes sense. Well, and it's not just house payments.

It's a big house payment. It is a big house payment. Bottom line is this house has gotten you to be house poor, not only mathematically, but it's starting emotionally and spiritually to make you house poor. I think you nailed it right there, Dave. Absolutely. I think it's a good thing to step out of this it's the good news is it's you know what you start to realize when you're in the middle of

these things is it's just a stupid house you're right there's a house there's a house on every corner in tuscaloosa there's a house on every corner in nashville where i live you know i mean you can get you another house and rent one for a little while and then get you a house but let's get back into control where you are in control of your life instead of this house telling you what to do all the time. Because every time you get ready to make a decision, you have to ask the house's permission. You know, and it's just not fun anymore.

Hey, that's a great question. Great analysis on your part, too. Very, very well done. Open phones this hour as we talk about your life and your money. It is a free call at 888-825-5225. Steven's on Twitter. Should I cash out my stocks, put the money into your mutual fund recommendations, or hold the stocks and put any new money into the funds?

Well, if you love the stocks and they amount to less than 10% of your total net worth, you can keep them if you want to. But if your entire nest egg is tied up in single stock investments i wouldn't do that i think it's way too risky and um you know yes mutual funds are stocks but a mutual fund is 90 to 200 stocks not 25 that you pick with your coughing buddy that's how you go broke so it just depends on ratios. If it's a small amount, it doesn't matter. If it's a small percentage of your world, it doesn't matter. But if it's all you've got and it's a big pile,

I would definitely cash that out and move it into mutual funds. The diversification will give you a lot more safety. This is The Dave Ramsey Show. Are high health care costs getting you down? Are you confused trying to navigate your options? Do you wish you could find an affordable biblical solution to your healthcare costs? Based on New Testament principles, Christian Healthcare Ministries, or CHM, helps Christian families, churches, and ministries join together as the body of Christ to share their major healthcare costs. Christian Healthcare Ministries is the original health cost-sharing ministry.

A Better Business Bureau-accredited organization, CHM members share to pay each other's medical bills. It's not insurance. It's Christians financially and spiritually supporting each other. It's what Christian Healthcare Ministries has done for over 35 years, and our members have shared over $2.5 billion in medical bills. To learn more, Over the last 25 years teaching Financial Peace University, 50,000 churches have taught over 6 million people this class. 30,000 people called coordinators conducted those classes over the last 25 years. At any given time, there's 10,000 or 12,000 classes operating around America, and you've got a place to get into the class, and you can go through Financial Peace University

because someone called a coordinator put together a class in your area. We love coordinators. They love people. They love helping people get out of debt. They love helping people build wealth. They love watching their marriages come back together. And this week we are honoring coordinators by talking to a few of them. Mandy is one such coordinator.

She's in Pittsburgh, Pennsylvania. Hi, Mandy. How are you? Hi, Dave. I'm well. How are you? Better than I deserve. So how many classes have you guys led?

So we have led three classes. Very cool. What got you to doing this, to leading financial peace classes? Yeah, so my husband graduated dental school with over $200,000 in student loans, and it was like a huge burden for him. And so we were on the quest of being debt-free, and we had learned about you, and we were able to pay off those loans and all of our debt in two and a half years. And so we want to help other people do it.

So we wanted to start leading a class. It's funny because I was like, Lord, like, financial peace? This isn't so spiritual. And I was just praying through it, but here, come to learn it. It's so spiritual. So I was just really encouraged by it. Well, very cool. Fun.

Way to go. We appreciate you doing this. So when you're leading through those three classes, you've seen quite a few people come through those three classes then during that time. What is one of the ones where you saw the biggest change in someone's life during the time you're in the classroom with them? Sure. So actually, pretty amazing story. The last class that we had led, there was a gentleman that came in, and interestingly enough, he came in,

and he was missing quite a few of his front teeth. And just kind of the classes would go on, and he was quiet most of the time. And he got to share his story with us in one of the classes that he's going to need just a tremendous amount of dentistry done, and he's just really not looking forward to the debt that he's going to have to acquire to do this. And so my husband and I, we prayed about it, and we just really felt like as the weeks went on that the Lord was calling us to help him with his dentistry, because we have our own practice. And, you know, next to the last class, we had told him, you know, hey, just come in and we'd love to look at what you have going on. And long story short of it is we were blessed to be able to be a blessing to him

and do his dentistry for only the cost of the last year. So instead of him taking out, like, what would have been more than $10,000 extra in dentistry, we were able to help him out with that. Wow. Very cool. Very cool. Very cool. It truly changed his life. Like, you know, you could just see through his appointments and coming in and giving

him a smile back that it just, praise Jesus, it just, it almost, it doesn't even make sense the goodness that we were able to do that for him. But, you know, just amazing. That's very cool. Well, there are no coincidences that that guy ends up in your class and you guys own a dental practice. That's pretty amazing. Very cool. It is pretty amazing.

Very, very cool. Yeah. So what advice do you have for somebody that's listening that's never led a financial peace class but is thinking about becoming a coordinator? My advice would be remembering that I just really believe that if our finances, if God's not first in our finances, then it's really hard to have him first in other areas of our lives. And just encouraging people that we have the ability through your program to truly change lives and break people from chains. And it's so rewarding to be able to help break those chains and help people be free.

Very cool. Well, Mandy, thank you guys so much. And I love the story of you guys buying the guy a smile. That is wonderful. I appreciate your generosity. That's just very, very cool. And thanks for leading these financial peace classes. We really appreciate you. Thanks for letting us talk to you for a few minutes.

Very, very neat. Well, summer means fun time. The kids are out of school, and all the superhero movies are out there until an emergency hits. And then it's hard to save the day if you don't have any savings. Everyday heroes do exist. They're these Financial Peace University coordinators that we're talking about. And if you want to be on this team of life changers, you can get the Financial Peace University leadership materials for only $99.

They're usually over $400. Right now, we're getting coordinators ready because we have a ton of classes coming in August, September, October, and a ton of people coming into classes, and we need more coordinators. So if you want all of the materials to conduct the Financial Peace University leadership kit to conduct the Financial Peace University class, text the word COORDINATE to 33789. Text the word coordinate to 33789. Our team will get in touch with you, and we will help you get started on that. And we appreciate all of you that have led classes and that are leading classes.

It's absolutely essential to be able to change the way America thinks about money. Open phones at 888-825-5225. Jackie is in Los Angeles. Hi, Jackie. Welcome to The Dave Ramsey Show. Hi. Thank you for having me. Sure.

How are you? Better than I deserve. What's up? Okay. Well, I am in a position where I can start saving money again, and my biggest obstacle is I have a lease with a vehicle that I'm leasing, and it's a $580 payment, which I can afford it, but I don't want to. No one can afford a $580 car payment.

Oh, my gosh. Well, it's ridiculous. So what's your household income? I make $105 by myself. I am a single mother. I divorced, and that's where I'm at right now. Cool. And is this your only debt?

I do have a school loan. I only owe about $30,000. And I'm managing it, and it hasn't been. I paid my interest in the beginning, so I'm just paying off the loan at this point. Okay. That's not true. That's not how student loans work. Okay, because they had me start paying it early.

Yeah, you need to get with it and get that thing paid off as soon as possible, and we need to get you out of this car lease and get you into a car you can actually afford. Oh, my goodness. Well, the way you get out of a car fleece, I call them, like a sheep that's been fleeced, is the same way you get out of a car loan where you're upside down. You have to cover the difference in order to sell the car. And so how much time is left on this fleece? Two years.

Okay. And your payment is $580 right correct okay um let me put that in here again i want to see how much okay that's goodness gracious what's wrong with the calculator all right i have all right so it's 10 000 15000, $15,000, right? Am I doing that right? Yeah. That's what's left of it. No, my, it should, well, I did contact the loan company, which is Volkswagen,

and they told me it would come out to about $33,000 if I wanted to buy it out. Yeah, and if you did that, then you would also have to sell it. And if you sold it for $27,000, then you would be $6,000 in the hole. So what you need to find out, you got the early buyout number of $33,000. Now you need to pull up on Kelley Blue Book what the car is actually worth. That difference is what you've got to cover in order to sell the car. You got a $14,000 problem. You're going to pay $14,000 to keep the car for two years. I think you're going to sell it for what you can sell it for because I think the difference is going to be less than $14,000 substantially. Thank you for joining us, America.

We're glad you're with us. Open phones at 888-825-5225. Our question of the day comes from Blinds.com. They have a 100% satisfaction guarantee. That means even if you mismeasure, you pick the wrong color, they will remake your window blinds for free. You get free samples free shipping and with the new promos they run every month you'll save even more use the promo

code ramsey and get the best deal nicole is in california currently we're putting about two thousand dollars a month towards debt if we start tithing that cuts down what we could put towards debt to about half. What do you suggest we do? Well, the people that ask about tithing, tithing is a tenth of your income. The word tithe in the Hebrew literally means tenth, are typically evangelical Christians or Orthodox Jewish. evangelical christians or orthodox jewish and those are the two groups that tithe according to the teachings of their book our book the bible and so um i'm an evangelical christian so i tithe i give a tenth of my income to my local church and um that's what she's asking about. So where would you put that in order of priority? Well, number one, we start with the idea that God doesn't need your money.

For that matter, the church doesn't need your money. So why does God teach us to give a tenth of our income? Because it's good for us to learn how to be givers. And generous people are just much more attractive than selfish people. And so your baseline starting point for your generosity, for those of us that have a faith walk like that, is a tithe, a tenth of our income. And so that would lead us to believe not to make God love us more, because he loves us anyway. It's not performance-based Christianity. And it's not a thing, some kind of toxic thing or something like that where you think god's going to give you money

because you gave him money or some kind of that god that not that garbage but it is simply i'm learning to be generous because generous people have a better life that's really what god's telling you to do and so he's not going to be mad at you whichever way you do this, Nicole. I feel confident that Scripture teaches us to give our tithe off the top before we do anything else. And then we just work out our plan after that, which would lead me, in your case, to lower the amount that's going towards the debt and increase your income to a full tithe. But're not doing that out of performance based we're not doing it out

of a guilt trip we're certainly not doing because dave ramsey said to do it that doesn't make any sense at all but you're doing it out of the understanding that your heavenly father is crazy about you and he says hey kid when he's looking at me hey kid when he's looking at you you're my son you're my daughter here's the best way to live and if you believe all those things about him then you would do what he says to do because he's a great father and so based on all of that i tithe before i do anything else and that will be my suggestion and the reasoning behind my suggestion which is actually way more important than the actual suggestion now here's the other thing i've discovered in 30 years of working on these

budgets with people including my own is that there's never a zero sum game meaning it's never as simple as i can put two thousand dollars a month towards debt if i tithe i can put one thousand dollars a month towards debt that's acting like there's only one variable in this budget oh so you could have a six hundred dollar car payment that you need to sell you could be not working much and you've got some overtime available to you that you need to pick up you could still have eating out in your budget to the tune of five or six hundred bucks a month i don't know what all's in your budget but i do know that these aren't the two only two variables in your budget that you can adjust and so i'm going to start with the premise that my heavenly father loves me he says for me

to give because it's the best way for me to live and as an evangelical christian i'm going to follow that teaching for those reasons because it's going to turn out best for me. Because of the instruction and the source of the instruction. And then I'm going to work on all the other variables. And I really want you to get intense about getting out of debt. So, it's not a zero-sum game. There's other stuff in your budget you can mess with here. The in comes out of the equation. The out goes out of the equation.

And for those of us that call ourselves christian especially evangelicals the teaching is very clear on that and um but it's not a it's not a guilt trip thing it's not a toxic thing it's not a you know i talked to one financial counselor one time years ago in another city and he we were comparing notes and he said he was a christian guy and he goes i won't meet with a couple unless they tithe. And I thought, man, you're a serious Pharisee. That's unbelievable. I didn't say that, but that's what I thought.

I'll help you. I don't care what your deal is. I don't care if you worship a rock. I'll help you. I'm going to help you. But you don't get to tell me what I believe. I know what I believe, but I'm going to help you but you know but you don't get to tell me what i believe i know what i believe and but i'm going to help you wherever you are and if you ask me to answer a question through the you know through the paradigm of mathematics or finance or academia

i can answer that question that way if you want me to answer it through the paradigm of my spiritual beliefs and uh you know i can answer it that way and oddly enough the answer comes out the same so there you go but uh sometimes i get these tweets or this stuff on social media you know i i really like dave ramsey is there a dave ramsey out there minus all the religious stuff that's the one i love you well no there's not because that's what made dave ramsey so you're not going to find someone that has the answers this way that don't doesn't have that basis for the answers it's that simple i mean you can get people to answer your financial questions but there's a different there's a different vibe around it and a different

motivation around it and so on. So that's what we're doing here. Open phones at 888-825-5225. Lee is with us in San Antonio. Hi, Lee. How can we help? Hi, Lee. Hi, Dave.

Sorry, I'm a little bit nervous. That's okay. Bear with me. No troubles. How can I help? We have a truck that we are selling to get rid of our car payment that we have about $12,000 equity in. Do we take that money and buy another vehicle in cash, or do we get another note for less and then pay off all our credit cards? Oh, pay cash for a $12,000 car.

Without a doubt? Oh, definitely. Let's get rid of debt. Yeah, so I figured either way you'd be getting rid of debt. No, but we're going to take on new debt we want to get rid of the debt and here's the thing when you get clear if you will drive like no one else later you can drive like no one else yeah let's let's go be an everyday millionaire and then drive whatever flip you want right yeah my thought being was i know you're not supposed to look at interest

anything like that but the credit cards charge you more than the vehicle does. So I was just wondering if that would be a better idea, because we still have to carry all the insurance on it because we're not in a place to where we would be able to afford to buy one if we didn't have that money. So I was just wondering what your opinion was on that. Well, but I mean, if you sell a car, you're going to have $12,000 in your hand, right? Yes. And you're going to have $12,000 in your hand, right? Yes.

And you're going to buy another car for cash. Yeah. Versus payments. No. Oh, you're saying throw that money at the credit card debt and borrow the money on the new car. Yes. Oh, I see. No, I would just pay cash for whatever you're buying.

Because here's the thing. You're going to knock it all out so fast that the interest rate is actually not going to matter that much. Because you're going to be debt-free in under two years, aren free in under two years aren't you hopefully trying i mean it's not hopefully you've done the math what it turned out you don't know the exact month i have not known the exact month because we are we've only been doing this in february so we're trying to get under control how to budget and we had never budgeted before so getting all that in a place where it's the same every month has been a little bit of a struggle. Well, it's never the same. Nothing's the same every month.

But you still should be able to project pretty close as to how much is going on the debt with how much debt you have and, you know, roll it out that way. So if you're not using the EveryDollar app for your budget, it's free. You ought to jump on and start using that. And let's get this dialed in. I have the feeling there's some loose ends around the edges of your plan. Let's tighten this up.

Dial it in real careful. When you know your exact number and where you're going and the speed you're going and that kind of thing, that's when I know you're really, really focused and intense. You're doing a good job, though. Let's just tighten it up a little bit. Sell the car, buy another car for cash.

Good question. This is the Dave Ramsey Show. Under the heading of, you can't make this stuff up. I haven't looked at Twitter in two months and i just opened it up i shouldn't have so uh dave i love your total money makeover book but i lost respect for you when you said reading it that pornographers are evil i like your success stories i like your success stories suffered and needed income and porn provided that in earlier chapters you encourage no judgment do anything but then condemn us to your readers you can't make this up you really can't you're so far down the rabbit hole kiddo that you don't even realize the impact of pornography unbelievable wow well i think i can probably live with pornographers not having respect for me i think I'll probably get through that one.

Yeah. Okay. So, I mean, I... Oh, boy. There's just... Just move on. All right. Charles is in Pensacola.

Hey, Charles. How are you? Hey, Dave. How are you? Hey, Dave, how are you? Better than I deserve, man. How can I help? Well, first I want to say thanks so much for FPU. I took it last year when she was with my girlfriend, when she was my girlfriend, and I've been budgeting now, and I make less money, but I have more of it.

Anyway, here's what's going on um so i had a i'm 25 i'm in the navy and uh i've been budgeting so i have a bunch of money in my emergency fund great um i paid off my fiance's student loan which was with my emergency fund no you don't pay off other people's debt until you're married no you you've already done this yes oh okay ouch all right so what's your question uh amen uh she's going to law school um in uh about a month and a half yeah when are you getting married um i'm in the i'm in the navy and i'm training so uh with me in training with her going to law school um i don't know yet okay so your question says you're in training she's going to law school and you paid off her student loans and the question's what uh well it was going to be should i help her with no board no during that but the answer seems pretty obvious now you do

not pay other people's bills that you are not married to. Once you're married, then you've combined your households and your lives and your finances. But until then, you don't because you have absolutely zero protection. Plus, it can negatively affect your relationship because she starts to feel beholding to you, beholding to you, and so forth. And no, don't pay other people's bills. Don't pay your roommate's bills. Don't pay your people's bills you know don't pay your roommates bills don't pay your fiance's bills don't pay other people's debts off uh and and you know with the promise or the hope that we're going to get married um if you want to do all that that's fine but go ahead and just go

and get married it doesn't take long to get married about 20 minutes and you'll be married and so you know you don't have to have and you can have a ceremony later you can do all kinds of things you don't have to have um uh you know this major uh waiting period and all these kinds of things if you've been engaged for a while you've done some good pre-marriage counseling um lots of people get married without having planned everything out. And it sounds like you guys probably need to. That's what it sounds like to me.

Mike is on the line. Mike's in Philadelphia. Hey, Mike, how are you? Good, Dave. How are you? Better than I deserve. What's up? Yeah, thank you for taking my call.

First-time caller. But, yeah, my call here, you could put under a theme, basically, of does one give up on a dream? And I can explain where I'm an adjunct professor here at a local college in Philly, and I enjoy it very much. I teach music and art. I've been doing it for a number of years. And as you said, oftentimes a person gets to a point where enough is enough. And you could say my aspiration was to get to a tenured position. That hasn't happened.

I should say I'm in my 40s. I'm 47, and here I'm at this position. So I've reconsidered, should I go into, like, a full-time elementary school teacher position, even though I don't really have the same motivation. I feel very good at the university, teaching the subjects, do well, and so forth. But again, I've gotten to a certain age, a certain person has come into my life who I value very much. I want to be able to, you know, be a good man to her.

And so I've been going back and forth with this, and I just want to get your opinion about it. So you would make more in elementary school? Yeah, as an adjunct, it's quite embarrassing. They only make a few thousand dollars a class. And I've done okay in the sense of I just discovered your radio show recently, so I don't have a lot of debt. What would be wrong then with a professorship at a different location that paid and they gave you like a full-time goal, a full-time gig?

Is that not available? They're tough to come by. I could do it. The one place where I'm at, there was some developments, but it doesn't look like it's going to happen. So I'm actually going and finishing my doctorate this fall, and there's some places that I can do that. So I've recommitted to doing that, but it just makes me wonder because they are tough to come by.

It's very competitive. And, yeah, I wonder, well, should I just go for the elementary even though I've always been at the same level? Well, I think if you've got a Ph.D. and you're a tenured professor at the university level, you're going to make more than an elementary school teacher at that point, right? I guess so, yeah. I should know that, but i don't i i would think i really would i could be wrong but i don't i mean depend on school systems depend on a particular school the particular university and so forth but if i'm you i i think you've got the right dream in the wrong place okay i think if i'm you i'm going to start shopping for a different school to teach for

that's going to allow me to complete my phd and stay on track for a tenured position and to go ahead and live your dream out you probably just stayed parked at that particular adjunct thing too too long yeah i i that is true as i look back and i'm not even sure why but um again you get to a point where you just get frustrated and want to change things. Yeah, but I'm not sure that it's your idea that I'm frustrated with as much as where you were doing it. Does that make sense? Yeah, yeah. So I think maybe you look for a Ph.D., a place where you can work towards your Ph.D. and work towards tenure and work towards teaching, which is your long-term goal.

It's what you want to do, and you want to deal with adults and young adults the other thing you could do is go private and that's just teach music you know for instance the piano teacher i mean that kind of thing i'm not uh but i mean it will be beyond that obviously but you could put together your own music tutoring process and, you know, develop that and develop that as one-on-one maybe and maybe even have some folks on your team that does that and develop a private music school for people that want to learn music. There's plenty of folks that do. So, I don't know. That's just some thoughts. Let me send you a copy of Ken Coleman's book.

I think it'll be helpful to you. It's called The Proximity Principle, The Proven Path to the Career You Love. And it's a really, really good book and a best-selling book. So, matter of fact, number one best-selling book. Come to think of it. The Proven Strategy That Will Lead You to the Career You Love. The Proximity Principle. So, hold on.

Kelly will pick up. We'll send you a copy of that. But I think the location is what's bothering me more than the idea in your particular situation. Thanks for the call. Open phones at 888-825-5225. Bill is on Facebook. What's the best option for my wife's old 401k? Roll it over to a new job or to an IRA.

Always take your 401k from an old job and make it a rollover to an individual IRA, an individual retirement account. Always roll your 401k to an IRA. It's a direct transfer rollover. Never leave it at the old company. The reason is real simple. It's not because the old company is evil or something, but you have better access to it through your own advisor,

and you have more choices in the open market from which to pick your mutual funds. So, very cool question. Thanks for joining us, Bill. That puts this hour of Theave ramsey show in the books this is james childs producer of the d Ramsey Show. Once again, you made The Dave Ramsey Show one of the top five most downloaded podcasts last year. To get your daily dose of motivation and inspiration, subscribe today.