The Ramsey Show - App - I Have $500K in the Bank I’m Afraid To Invest

Episode Date: April 20, 2022

Dave Ramsey & Rachel Cruze discuss: What to do with a 529 you no longer need, Why you should balance saving cash in the bank with investing it, What to do with an annuity. Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6

Live from the headquarters of Ramsey Solutions, it's the Ramsey Show, where debt is dumb, cash is king, and the paid off home mortgage has taken the place of the BMW as the status symbol of choice. Rachel Cruz, Ramsey personality, best-selling author of My Daughter is my co-host today as we answer your questions about your life and your money. It's a free call, 888-825-5225. We help people build wealth, do work that they love, and create absolutely amazing relationships. Change your family tree. It's what it's all about. It's life right here on the radio. Mike is with us. Mike is in Lexington.

Hey, Mike, how are you? Hi, Dave and Rachel. Thank you for taking my call. Sure. What's up? I've got a 529 that I started for my daughter years ago, and now my daughter is older and has pretty much disowned me um what should i do what should i do with that 529 since i don't see any uh future reconnection with my with my daughter i'm sorry that's awful um how old how old is she she's. It's due to parent manipulation.

Yeah. Oh, I'm sorry, Mike. Well, how much is in there? 16 grand. Okay. I can give you the legal technical answer. The legal technical answer is the money is hers. It's in her name.

And you put yourself in the seat of the manager of her money. And you have a legal responsibility to manage her money for her. And the setup doesn't account for relationship one way or the other. Okay. Okay. Okay. And so it's her money. You don't have a choice in that technically. Now, on a practical level, if you cash it out,

you're probably going to have some taxes on it a little bit. And it doesn't sound to me like anybody's going to bother you but you hypothetically could get sued later if uh that you stole her money or something you know that kind of thing uh so uh i'm not suggesting you do that i'm just telling you that it's 16 000 bucks it's not it's not 1.6 million so um but uh vindictive kids from manipulative parents uh in a split-up situation you never know so i don't know what you do with it it's up to you um what i i assume you've got this with a financial advisor right no not yet okay who's the who's the 529 with? It's through our state. It's not through a financial advisor.

Okay. You might contact them and ask them if you can transfer the custodianship to her mom. In other words, take your name off of the responsibility line and transfer the line of responsibility to her mom, and then her mom is in charge of the money for her until she's 21, like you're in charge of the money for her until she's 21 right now. And that would get you out of the loop. That's probably the cleanest thing you can do. Do you have other kids, Mike? No, it's just the single daughter okay but you don't have children with another marriage or anything else no sir okay all right um

yeah i mean i'm just trying i'm trying i can't get past the the knot i have in my throat from just the whole idea of this but um but but aside from that the practical thing is if you get it out of your otherwise you are are bound to risk to you know to manage this for her for her education and um i guess she has to come to you for that then if you want to leave it there as bait um you can right well even if even if i were to remove that money um through my disability with military she's still you know i'd still cover her for a portion of of the tuition for any you still can you still can but you're not required to

okay the military benefit doesn't require it and she can't access it without going through you the military benefit or the 529 so how long have y'all been split up you and the ex oh me and the ex have been split for 11 years now okay and how how long has your daughter made the decision that she doesn't want to contact with you about a year okay um can i change hats sure i'm just gonna be dad um i wouldn't do anything i would just let her mother know and i would write her some letters they may or may not get through to her just telling her how much you love her and that you're here and that when she gets ready to call it a college there's a college fund and that you're here and that when she gets ready to

call it a college there's a college fund and that there's a military benefit and all she's got to do is get in contact with you and you'll be happy to help her with that and i would just let that lay there yeah because she's 16 mike and i'm like man she's gonna come around i i i have hope that they're you know what i mean it's um that there's still, and obviously she's still going to be living, I'm assuming, with your ex. You may not feel like it's going to get better, but I wonder as she gets older, even 18, 19, 20 years old, do you know what I mean, what matures in her and her curiosity towards you, all of it. She still feels young, even though it's extremely hurtful. What was your relationship with her before all this?

We had a fairly decent relationship. She'll come back around. Just over the years. Did something happen, Mike? Like, was there an event that had happened or just over time? She was like, I just don't want anything to do with you. I believe it was over time. Okay.

There wasn't a set blow up where you did something. No, overtime. Okay. There wasn't a set blow-up where you did something? No, sir. Okay. I'm going to let this and the military benefit lay there, because she's going to come back around, and you're going to be able to bless her, and it's going to be part of the reconciliation story. Okay.

That's Papa Dave talking. That's not a legal financial answer. But it's also correct. By the way, it's also legal, and it's also financial. But, you know, she's got to come through you to get to that. And if she wants to go to school completely debt-free, you've got a military benefit. And she has a college fund that you funded for her, and you love her. And anytime you want to talk, I'm here to talk.

And anything you want to, you know, yell at me about, you can yell at me about and um you get ready to go to school i'm gonna i'm in a position to help you just get in touch with me at that time and but more than that i want a relationship with you you know absolutely above and beyond just absolutely that's the whole point but yeah i think you just sit with these things and but and hold them in your hands and they're an opportunity to bless her as the reconciliation goes along and um uh and just a natural gravitational pull between a daughter and her dad, unless there's something really toxic and really wrong. Okay. I've watched it with friends over the years where there's a temporary shutdown

that felt like it was permanent. And they come back around and they really do have a way of figuring out the truth. Sometimes it just takes a little while. I'm sorry. This is The make any sense. You know, statistically, when it comes to life insurance and protecting your family, that women are more likely to be uninsured or underinsured than men. This doesn't make any sense. Women make up half the workforce, contribute mightily to family incomes, and in many cases are the breadwinners and take care of their families 24 hours a day.

This is one of the most overlooked areas when it comes to financial planning. Maybe it's a relic of the past, but a loss of income or the need to replace family care is equally important for women as it is for men. Single moms, working moms, and stay-at-home moms all need term life insurance. Rates are actually lower for women, which is why I send you to Zander Insurance. They shop the top term life companies to find the lowest rates available. You can compare rates online at Zander.com or call 800-356-4282. This is something every family has to deal with. That's Zander.com or 800-356-4282. Rachel Cruz, Ramsey Personality, is my co-host today.

Open phones at 888-825-5225. It's a free call. We've taught gods and grandmas ways of handling money for nearly 30 years here at Ramsey. Now our good friend and Ramsey Personality expert, Dr. John Deloney, is paving the way for how we talk about relationships, how we talk about mental health. His brand new book, Own Your Past, Change Your Future, came out yesterday. It's now available for purchase, and it's a book everyone needs to read. This book is not just for people healing from traumatic experiences.

John has practical steps that apply to everyone in every walk of life. Reading this book is like having John sitting one-on-one with you, offering decades of experience, practical advice, and encouragement on topics like relationships and how to live a more restful and peaceful life. Get your own copy right now of Own Your Past, Change Your Future for only $20 at RamseySolutions.com. John will be on the road this coming Thursday. It would be tomorrow night. He'll be signing books in Phoenix at the Barnes & Noble on Desert Ridge Marketplace on Tatum Boulevard, 6 o'clock Thursday the 21st.

Make sure you make plans to do that. One week from tonight, if you're in Dallas on Wednesday night, April 27th at 6 p.m., he will be at Barnes & Noble at the Prestonwood Town Center on Beltline Road signing books. And so we invite you folks in Dallas to come out and see Dr. John as well. He'll be talking, answering questions, signing books at both of these locations. You do not want to miss it. You don't want to miss this book. It is a life-changing, incredible, incredible book. Cheyenne is with us in Arizona. Hi, Cheyenne. Welcome to the Ramsey Show. Hi, Rachel and Dave. Thank you for having me. Sure. What's up? I have a question. I'm 55, a widow. I'm out of debt and I have about $400,000 just sitting in the bank. I am one of those investment resistant

people. I feel like it's out of my control. I have did a deep dive into trying to invest and talk to two different people who are financial people and got very deep in what they were recommending to me. But as I was researching it, there'd be something there that I just didn't want to invest in, a McDonald's or a Pepsi or some kind of chemical farming or things like that. And so, you know, I've downsized my lifestyle. I've been a medical person for 30 years, so I'm semi-retired. I could go back tomorrow and do that. Income's not a problem. I just would like to know what your opinion is. Someone like me, it's, it's what you think, oh my goodness, it's not growing. I have a friend that just lost $80,000 in the last month,

a whole year of her income based on the market where she has the money. And that just feels so out of control for me to put it somewhere where I have no control. Your friend was investing in some kind of high-risk something to lose $80,000 in one month. Or she has $2 million invested, one of the two. Which is it? Okay. Well, I don't know the person. It's something to do with their work okay see that was a high risk single stock investment and so that's not so the market

represents the stock market represents everything from ultra high risk scary crazy stuff down to things that are just plain boring and so um when someone says they lost money in the market it can mean that they were virtually gambling in las vegas or it can mean that they you know that they just panic every time that the needle moves a little bit um so but you don't you don't have a stomach for it is what you're saying and you can't i don't have the stomach for it and you've attempted to uh gain enough knowledge to get some peace and it hasn't worked so um but you can't i don't have the stomach for it and you've attempted to gain enough knowledge to get some peace and it hasn't worked so um but you can't leave uh four hundred thousand dollars sitting at one percent either you that's why you called agreed

uh yes yeah i mean because you're making nothing so what about buying some real estate that creates some income well i did that. I did two houses and turned them during COVID, but, of course, it was COVID, and so everything was twice as much, and the help was so, I mean, I didn't lose, but it certainly wouldn't have been worth it, in other words. If you continue to jump in and out of things, you're always going to lose money. You've got to ride the wave out.

And not necessarily redoing a property, but just buying one, renting it out, and having that passive income. If you had a $400,000 property, a simple piece of nice house that someone rented for $3,000 or $4,000 a month, you'd be making a whole lot more than you would on the bank. That's true. It's something I don't enjoy. I've had many years of it and not the best years of it. So Cheyenne, I have a question. You presented two problems with investing. One, it was companies that you just didn't agree with morally. You mentioned like Pepsi or McDonald's, right? I'm guessing you just don't agree with them as companies and the fear that you just didn't agree with morally? You mentioned like Pepsi or McDonald's, right? I'm guessing you just don't agree with them as companies and the fear that you're going to lose money.

Which is greater, do you feel like? Which part of it makes it like, ugh? Oh, you know, I guess in one sense, I want to put my money where my heart is, you know, and have it manifest something good on the, on the earth. Okay. What would that be? No, I don't know. I'm, I've been trying to search and find it. Maybe there's some good funds where, where, where people are Christ centered, you know, and you don't find out at the top that they're

moving against mankind i'd like to see i'd like to invest in something that means maybe food i don't know well there's um number one when you're dealing with a mutual fund you're dealing with um 90 to 200 different companies inside of a mutual fund and um at any given time, one of those companies could have some kind of a business practice, disclosed or undisclosed, that somebody doesn't agree with. Okay? Now, you're not giving them money when you buy their stock. Okay?

If you buy stock in a company from me you gave me the money now you are benefiting when they make a profit and the stock goes up in value uh you're benefiting from their actions that you don't agree with and so that part i do understand but if there's 90 to 200 and one half of one of the companies is doing something wrong that's kind of like you shopping at a grocery store that also sells stuff you don't agree with, but you bought the stuff you do agree with there. You really can't find something that's 100% pure in this world, this side of heaven. Now, I will tell you one thing to investigate. There is a group out of Atlanta called the Timothy Fund.

The Timothy Fund. And it is a mutual fund. And their goal is to invest in companies that to avoid investing in companies that engage in something, anything they consider to be non-Christian. And so, for instance, they don't invest in any tobacco companies or alcohol companies. They might invest in a chemical company. You don't agree with based on what you're saying. I don't know. But the Timothy Fund is actually done. It's a moral-based fund, a Christian-based idea. And they've done very well.

They've got a good long-term track record. You might investigate them and learn about them. I'm not associated with them in any way. I don't have any money in there and i'm not because i'm against them uh it's just not the process i have used to do analysis for my my fund picks but um i've been aware of them for over a decade and they've got the main central fund has probably got a now it's probably got a 20-year track record, and it's beaten the market. And I would say, Tushain, if you decide to step into something because you're wanting to make more than just 1%, you don't have to just do all 500,000.

Do 50,000 for a year and see how that feels. And maybe you take another 100,000. You can kind of move your way into this. But for your benefit long term, for you to even be generous on the other end to be able to give some money away to things that you really do care about, making that money is part of that. And I appreciate your pure heart. But that bank that's paying you 1%, I'll guarantee you they're engaged in things you don't like. I can just 100 hundred percent guarantee that so there's not a place you can hide from that no i'll just promise you they're they're donating the things you don't agree with i can promise you

they are this is the ramsey show Thank you. Rachel Cruz, Ramsey Personality Bestselling Author, is my co-host today in the lobby of Ramsey Solutions on the Debt Free Stage. Andrew and Stephanie are with us. Andrew McGuire is our Associate Director of Analytics. He's been with Ramsey for about four years. He's been a team member here for quite a while. A really bright young man, but a team member debt-free screen. One of our favorite things to do.

Hey, Andrew and Stephanie, how y'all doing? Doing well, Dave. How are you? Very cool, very cool very cool all right how much debt did you pay off we paid off 238 000 how long did that take it took three years nine months and 20 days three years nine months and 20 days i'm not gonna ask the income because all your co-workers are standing around that'd be weird so uh wow what kind of debt was the 238 000 this was the house yeah baby step seven i love it you're so weird absolutely amazing and a baby on the way baby on the way when's baby due in august all right very cool number three number three yeah number three. Awesome. I love it.

All right. So three years, nine months, and 20 days. So you've been working on the house after you got here. That's right. Yeah. When we moved down here, we bought our first house and set a plan to have it paid off within five years. And you did it in three. And we did it.

We did it in three. 3.9, yeah. I love it. Very cool. How old are you two? We're 31 years 3.9. Yeah. I love it. Very cool. How old are you two? We're 31 years old. Okay. Man.

And what's the house worth? Somewhere around $650,000. Man, I've got a whole bunch of millionaires working for me. I had another guy come up to me the other day, a young guy, and he said, I just passed the million dollar mark. There you go. I mean, we got millionaires working here. You ought to come to work for Ramsey. got millionaires here i'm just saying you guys

way to go man thank you i'm not going to ask about the other and prove that you're a millionaire but you're right there real close anyway with your 401k and other stuff so good job man wow very very neat oh man all right so tell us the story you come to work for ramsey and that finishes it up what you're already working on or tell how's all this weave together? Yeah. So our story really began about six and a half years ago. I was taking FPU at a local church just trying to get my finances in order. Didn't have any outside of the class, and she had some financial work that she was doing on her own. So we decided to take the class again a couple months later together while we were dating. That's awesome. I thought you were about to say that y'all met in the FPU class.

I was like, oh, man. And then they work at Ramsey. Wow. Yeah, no, no. A little bit over the top. Okay. So then you get married, you finish up that debt, and then you take this job and come here.

That's right. Well, actually, we paid off the debt. I paid my last student loan the day before we got married. Oh, wow. So we get to go into marriage completely debt-free. Oh, that's neat. Okay. That's amazing.

All right. Amazing. Very cool. Okay, so for you guys, I know having three kids, I'm about to have three, you're living life, you're doing all of this, and the thought of even paying off a house, that feels impossible. I was just talking to a friend actually two days ago about this, and she was like, I just don't even think it's possible.

So you did the impossible. So what is the hardest part? Having a young family, you guys are young, you're doing this. What was the thing that you were like, oh, man, this is just tough. This is tough. Are we crazy? Are we crazy by doing this? Yeah. I mentioned that we set a plan when we got here that we were going to pay it off in five years and making that decision and commitment was hard and an important big step to start with. Throughout the entire journey, just having the discipline to say no over and over again. If you were to walk into

our house today you'd see a couch with holes all through it from dogs and kids jumping on it and we've had the discipline over the last four years to say no and you know cover it up when guests come over and that sort of thing in order to be able to have this moment right here yeah that's amazing absolutely amazing and worth it worth it. And worth it. Worth it. We had a couch that we covered up when I was a kid, but just because we couldn't get a better couch, it wasn't because we had a goal.

You guys, that's awesome. That's just good. That's amazing. How does it feel to not have a single payment in the world at 31 years old? Unreal. I keep telling Andrew, Andrea, I don't feel like I should be here. I don't feel like I deserve this. You do.

I mean, you guys have done it. You have done it. You've done the work. You've been diligent. And people are just not willing to do the sacrifice, but you guys have been so focused. It's incredible. Absolutely incredible. When young people do it with little ones running around and they do that

journey, I'm just like, golly, there's just, there's something about it that I'm like, the sacrifice is so real. It's so real. And yeah, you probably pinch yourself every day being like, wait, what? So how did it feel when you, when you sent in the last payment? Well, when we went to the bank, it was kind of anticlimactic. You can tell they weren't happy about paying off our mortgage. And so we were like, well, let's get out of here.

We'll go celebrate. I don't know, ice cream. George Campbell said the same thing when him and Whitney paid theirs off. They were like, they walked in and they were like, and they're like, and we're done. Okay, we're going to just walk back out. Yeah. But the idea of it is so, yeah. Yeah.

That was funny. So, Stephanie, how big a nerd is Mr. Analytical Andrew? I mean, on the nerd spectrum, it's probably like as far as you can go on nerds. So he's kind of got this dialed in, right? Yes. Yes. That's why we hired him, by the way. Yeah.

Because that's what he's supposed to do, right? But, I mean, he's got this dialed in. He's got the spreadsheet. He's tracking every ounce. Stephanie's selling herself got the spreadsheet. He's tracking every ounce. Stephanie's selling herself short, though. She's an accountant and a CPA as well. It's a pair of them. All right. I like it. Very good.

What are y'all going to do after? What's the big thing? What's the fun thing you're going to do since you've been sacrificing for so long? Get a couch. Go to Disney. I don't know. What are you going to do? We've actually been planning a trip to mississippi of all places uh just to hang out for a long weekend over uh over memorial day so just get away for a couple days get away it's awesome who are your biggest cheerleaders oh gosh this team uh here

at ramsey has been incredible um outside of these walls, the people that you run into, they just don't understand the journey you're on and the sacrifices that you're making and what you're willing to do for a goal. But every day here at Ramsey, I feel supported. Yeah, way to go. Very cool. Very cool.

Well, we're honored to have you on the team. We're so proud of you as friends, but as team members, certainly. And wow, 31 years old, $6 old 650 000 paid for house boom just like that i love it so very very fun you just gotta love this absolutely amazing all right it's andrew oh no we got the little ones i'm sorry bring the little ones up the names and ages uh so the younger one here is Emmalyn. She's 18 months old. And this is Adeline.

And she is three years old. Okay. And who's doing the handoff here? That's Grandma and Grandpa. All right. Well, they're proud of you. I love it. Very good.

All right. Adeline and Emmalyn. Stephanie and Andrew. Andrew's a team member here for four years. $238,000. That's their house. They did that in three years and nine months and 20 days, to be precise. And the house has worked 650.

They're 31 years old. 100% debt-free, baby. Count it down. Let's hear a debt-free scream. Ready? Three, two, one. hear a debt-free scream. Ready? Three, two, one. We're debt-free! Yay! Woo-hoo-hoo-hoo!

Wow. Ugh. Wow. Since Baby Steps Millionaires came out, a lot of our team members are coming around saying, hey, we got the house paid off. We just added up the 401K and the other stuff, and the net worth just went over a million dollars. And the number of times I'm hearing that in the last month around the building here, pretty amazing. And, you know, folks here make market rate they

make good money but we're not paying people a million dollars a year here either so right they're doing this stuff because they're they're following the baby steps and they're truly baby steps millionaires in the process and so i suspect andrew and stephanie are there or very very close at this point that's very very cool and it's always encouraging to me where I'm like, you know, that took four years and a long four years, I'm sure it felt like. But I'm like, that's such a blink. I'm like, you look forward and you're like,

oh my gosh, you know, in the next four years, what you're going to have invested and what you guys are going to be able to do as a family. And then you just keep going, going away. I'm like, for a short period of time, a short period of time, it's hard, but it's so worth it. They're amazing.

Live like no one else. So later you can live and give like no one else. This is The Ramsey Show. Thank you. Our Scripture of the Day, Proverbs 15, 1. A gentle answer turns away wrath, but a harsh word stirs up anger dale carnegie said don't be afraid of enemies who attack you be afraid of friends who flatter you oh man really wow pretty fun really hold on can we talk about that for a second dale i took his class when i was in high school. Flatter. Flatter. Flattery. How are you?

I know. Flattery is not true. Oh. Okay. It's just a compliment. It's an untrue compliment. Really? Yeah.

Flattery. Gregory is in Baltimore, Maryland. Hi, Gregory. How are you? How are you doing, Dave? I'm better than expected. And Rachel. Good.

My question for you is, well, I've got three, really, but I know I don't have much time, so I'm going to talk fast. I'm a caregiver for my 97-year-old mother who lives with me. me and she has an annuity with a well-known Christian organization in which he pays yearly $5,000 contributes and she gets about 12 over 1200 in dividends I guess it is and I'm wondering is it should I get her out of that I am her power of attorney and I'm wondering should I get her out of that? She's always been a giver, and it's reflected in that. But I'm just, excuse me, I'm sorry. That's okay. So who is the beneficiary on the annuity?

I have no idea. Okay. You need to find that out. Because it should be who she wants it to be, and that way the money from the annuity will pass to that person upon her passing away. Yeah, you need to make sure that is in order with her being 97. So how's her health? Uh, she has memory issues.

Okay. All right. Um, but you know, she still walks and she still can with help get in a tub and wash herself and she still eats herself. Wow. I would, um, yeah, I'd make sure the beneficiary is correct on it., because that's who's going to receive the money from the annuity upon her death. And we want to make sure that that is set up correct. And as the power of attorney, you can do that.

You can take care of that. And if it's not set properly, if it's set to someone that she wouldn't want it to go to now, and she just forgot to change it, then you can jump in there and get it changed and set it up for something else i'm probably not going to cash it out at her age uh because she's probably going to have some penalties or something else i would try to figure out a way to stop adding to it yes you know that's what that's my dilemma yeah trying to find out what you know if you have to stop if you have to cash it out to stop adding to it and there's not any penalties, and you just set the money in a bank account, that's fine. Because we're probably not investing long-term when we're 97, agreed? Right. That's true.

Just statistically. So, yeah, number one, make sure the beneficiary is right. Then number two, you need to find out what the implications are of closing it down and make sure there's not a big bunch of penalties or something um and you know so if she dies what happens and if she lives and you take it out what happens these are the two things you need to get dug into exactly what the details are you have the right to do all of that as her power of attorney and you should immediately and then that'll help you make the decision as to what to do if you need some investment advice you can sit down one of our smart investor pros they might be able to help you uh comb through this if you go

to ramsey solutions.com and click on smart investor they might be able to help you analyze the information and decide what to do because i can't tell from what you're describing exactly who or what she's gotten into here. But I do know that an annuity always has a beneficiary on it like a life insurance policy does, and so the money will pass directly to that person, and that might be the easiest way to cash it in is for her when she passes away. And so, you know that that's what i would look at jared is in florida hi jared welcome to the ramsey show hey guys can you hear me okay sure what's up so i had a 2017 jeep it was pretty nice it had bells and whistles and stuff. But my move to make myself debt-free was to trade it in for an did the right thing uh it was a 300 a month payment

so you know i'm debt free now what do you make uh about 50 a year take home what's mustang worth i haven't looked that up i'd assume around around, actually, I did a while ago. It's about $3,500 or $4,000. Okay. All right. And, well, I mean, if you save up money and move up a little bit in car, that's fine. How old are you? I'm 26 years old.

I'm an OR nurse. Okay. Cool. It's good news that you've got a great career, and you can add hours whenever you want to, and do a lot of different things here to be able to, you know, hit some financial goals. Now you're debt-free. That's a good thing. Yes, you did the right thing.

But there's nothing wrong with owning a car that you like. And so, you know, saving up and moving up in that, as long as it's no more than half your annual income and vested in things that are going down in value, then that's fine. But you've got some margin there to move up at this point. I mean, if you added $10,000 cash to this and moved up to a $15,000 car, it would probably be a completely different vehicle, right? Yeah, absolutely. I'd be willing to drive this car for basically until the wheels fall off.

I'm not a huge car guy, but I would be able to move up in a while if I was able to, you know, save and do it the right way. Yeah. But another thing for me is I just started investing into my company's Roth 401k. Good. I did the low cap, mid cap, high cap, and international. And I picked one from each, one mutual fund of each. And it seems like it's been going down for the last month or so. I shouldn't worry.

I should keep my head on it, right? Correct. Correct. The market's been going down. Yeah. So you're just riding the market. Mine went down too, by the way. All right, good.

No, I'm... Yeah, so we're just, you know, we're not... I don't track stuff on a monthly basis. I look at it about once a year, and I generally check to see if my funds are doing a little better or about what the market is doing. And if they are, then I just leave them alone. But, you know, we're just... We're here to ride the long, long term.

And over the long term is where you make money in a good mutual fund good deal amen thanks for the call we appreciate you joining us i know it can be a little distressing especially in the times we've been in of just like sometimes the market was nuts and then it's like and then it's this and then i mean it's just it's all over the place and so yeah i mean i do the same as you i'm like i don't even look at it once a year take a glance make sure everything's good and looking good but you'd stress yourself out or i would look at every little every little thing i'm like it is it's normal though human nature when you very first start investing you want to check on it you want to see what's done you'll see what's doing you'll see what's doing and you first start investing and then it goes down that's like what yeah is that how this works you know that's all he's saying and that's that's a normal thing and um you know i appreciate

you asking about it because it's a normal human emotion to look at that but you didn't invest for one month you invested for uh you know 30 30 years when you bought one into your 401k you're 26 so 40 years you're 66 years old thatk. You're 26, so 40 years. You're 66 years old. That's when that money's going to get sold. All you've got to worry about is, is it going to be down when you're 66? And the likelihood of that is almost zero. Zero percent chance it's going to be down by the time you're 66.

So you're going to be okay. And that's the play. Nobody gets hurt on a roller coaster except those that jump off in the middle of the ride. So ride the play. Nobody gets hurt on a roller coaster except those that jump off in the middle of the ride. So ride the ride. And you're investing when it's up and you're investing when it's down. And you're investing when it's up and you're investing when it's down. And you just keep going, folks. And you let your intellect overpower your emotions.

And then you keep with it. Rachel Cruz, good show today. Yes, thanks so much. So fun. Fun stuff. Thanks to James, to Ben, and to Kelly, Zach, and the booth, taking care of business in there. That puts the Ramsey Show in the books. We will 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. If you want to do your debt-free scream live on the show, visit ramsaysolutions.com slash debt-free scream. We'd love for you to come to Nashville and tell Dave your story. That's ramsaysolutions.com slash debt-free scream.