The Ramsey Show - App - I’m Having a Moral Conflict (Hour 3)

Episode Date: January 1, 2024

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. We help people build wealth, do work that they love, and create actual amazing relationships. Thanks for joining us. We're people build wealth, do work that they love, and create actual amazing relationships. Thanks for joining us. We're so glad you're here. Luke is with us in Jackson, Mississippi, starting off this hour. Hi, Luke. How are you? Good. How are y'all? Great. How can Ken Coleman and I help? So I'm currently in a job. I'm 22 years old, and I've been in this job for

about two months, And I've quickly found out that I'm not really passionate about it. Why? Well, I'm in the wine and liquor industry. I'm a sales rep. And it's just, it's pretty difficult to watch people come in a store who already have a pretty difficult life and walk out with your products um it's just a hard thing to deal with um hard to see that happening so it's a values disconnect yes for sure everyone that walks into a liquor store and buys wine is not having a bad life yeah i i know that but it's uh it's the ones that are i'm in a pretty um pretty poor area and so it's uh it's the ones that are, I'm in a pretty poor area, and so it's the ones that are coming off the streets, like just pennies in their pockets coming in

and buying the cheapest things on the shelf just to get a drink. Why'd you get into this? You work in a liquor store or you're a salesman for a distributor? I'm a salesman for a distributor. So how are you dealing with the people coming in off the streets? Well, so I've got to go into the stores and talk to the liquor store owners to try and get them to get my products, which a lot of them, we have some high-end products, but a lot of them are to target those cheaper customers that are just trying to get a quick drink.

Okay. I'm just curious, get a quick drink. Okay. I'm just curious, and I understand all of that. I understand it's very personal for you. What I'm curious about is how did you make this decision to get into this two months ago? Well, I wanted to originally get into medical device sales, which it's a difficult field to get into without sales experience. And so my original intention was to just try and get my foot in the door for the first couple years and just get some sales experience under my belt

so that I could then move into that other field. But it's just right now it's getting pretty difficult to keep going because it's just a moral thing. Sure, I get it. But you took this opportunity just because it was I need some experience, I've got to sell something, and this presented itself and you jumped into it. That's what I'm it. Because it's just a moral thing. Sure, I get it. But you took this opportunity just because it was, I need some experience, I've got to sell something, and this presented itself and you jumped into it. That's what I'm understanding. Exactly.

All right, so here's the deal. Stop overthinking this. You're going to stay in this role, and you're going to have to suck it up a little bit, and you're not doing anything morally wrong. I understand your feelings. I don't want in any way to discount what you're feeling, convictions, all that. But the fact is you're not doing anything wrong. And so sit still and keep doing the job until you find another sales job to replace it with.

That's the advice. And I appreciate what you're trying to do. Get some sales experience somewhere else. But now you've got to learn from this and go, wait a second, I'm not just going to take any sales job. I need to make sure that I'm going to sell a service or product that I'm okay with. And you can't overthink this, you know, because, again, there's nothing wrong with distributing alcohol or selling alcohol. But in your situation, this is very, very personal.

So I wouldn't overthink this. Let's make the move. How much are you making? $45,000. Okay, so find another sales job making $45,000 to $60,000, selling something you're proud of, and then change. That's what Ken's saying. That's right, but then get in proximity if you can.

If you could get selling something that's near or around that medical field, I would try to look for that first. You understand what I'm saying? Because it's connections at this point, not just experience, but connections. Okay. first you understand what i'm saying because it's connections at this point not just experience but connections okay and and make sure that as you're doing that that you're taking on something you can be proud of everyone in sales needs to remember it's very difficult to be a great salesperson selling something you don't believe in yes yeah and that's that's the thing that i've been i've been struggling with because yeah i've got alcoholism on both sides of my family um from both my parents sides um so it's

that that's been the hardest part is just not really um care i don't really believe in the products that i'm yeah that i'm selling and that's been the hardest part and so if an opportunity similar to this presents itself, don't take it. For sure. There's something else. Because you had red flags before you took this. Yeah. You're only two months in.

So I know you did. And now it's manifested, and it's actually worse than you thought it was going to be in terms of convicting you. Yeah. And, you know your your morals are saying ding ding ding ding ding the alarms are going off get out of here so yeah go find something else as soon as you can and then quit but don't just quit every time you have a uh adversity uh a situation you know so again i don't want you there six years from now i don't want you

there six months from now you ought to be able to find a sales job doing that. So doing something that you actually believe in. You know, Ken, here over the years, we've developed products, books or software or apps or classes or whatever. And one of the biggest challenges is to make sure that we're all proud of what it is we're putting out. The instant we're not proud of it, we can't ask anybody, including me, to suggest it to someone, sell it to someone. That's what sales is. It's suggesting you do something, right?

And you can't suggest buying a car if you hate that brand, and you think that brand's a piece of crap, and then you're going to go to work for that dealer. And so, yeah, that's going to be a problem. Yeah. So don't take a position where you're not proud of where you work. So true, and specifically in sales, because sales, you know. Period. But true. And specifically in sales. Because sales, you know... Period. But it's very difficult.

Very difficult in sales because you're an evangelist, right? That's your role. And people can fake it and there's a lot of fakes out there that hit their sales numbers. But if you are a person of conviction and you've got a true ethical code to you,

it will wear you down if you can't get excited to the point of evangelizing on behalf of the product or the service that you're selling it's absolutely it will cripple you it just will yeah it's it's very difficult because people can your body language changes that's right changes your facial expressions change all your non-verbals are are just not there that's correct you know when you're doing that. And so, I mean, if you're selling, in his case, a line of whiskey that is, you know, the bottom of the barrel, no pun intended, and it's designed to take advantage of the homeless, then you're not going to be fired up about that.

Yeah. You know, the drunk homeless guy, right? So you're not going to be fired up about that, you know, the drunk homeless guy, right? So you're not going to be – nobody's going to be excited about that. Now, you know, but – so you just got to find a way to do the thing you do that is not a violation of your morals or find something, period, that isn't. But don't be just after two months jumping out without having something to jump to that well that's right so the first thing i said was hey you're going to stay put and you made this decision so you're going to be an adult about this until we find something to replace that income you don't just

say oh i don't like it i can't do it anymore and he wasn't saying that but gotta be careful you know well i mean there's a that's, you know, for a lot of people. Yeah. For him, it's not a good fit. Exactly. This is The Ramsey Show. Hey, guys, if you like this show and you want to help us out, since we're doing it for you for free, you can help us out.

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Let people know that would be a huge help to us. It really does matter. It affects all the algorithms and all the things and causes us to be served up and so forth and uh just uh just about a week ago i think we're the number 19 podcast in the world in uh size in terms of uh i've had over a billion downloads of the show now and uh 100 of that's because you guys told someone so thank you thank you thank you for doing that sarah's in houston hi sar Sarah. Welcome to the Ramsey Show. Hi, how are you guys? Better than we deserve. How can we help? Good. Well, I have a two-part question about a job change. I just recently went through a job change after nearly 15 years with my previous employer, who I started with right out of college. So this is a

pretty big shift. So I'm trying to figure out is what is a reasonable timeline for feeling settled with this new job, meaning that you're understanding processes, you're building those relationships with people, and it's just understanding how things work. And then the second question is, how do I discern if kind of the overwhelming stress that I'm feeling is normal for starting with a new company after such a long time with a different company, or if it could be a symptom of a larger problem. How long have you been there? I started, it's been about four months. What do you do? I'm a project manager.

Okay. Yeah, so there's no set rule on how long it takes somebody to get settled. There's no set rule on how long it takes somebody to get settled. There's no just hard and fast rule, but I will tell you that being settled will happen when you get over some of the natural fears and doubts of starting something new. That's just natural. I don't care what area of life we're talking about. We've been doing something for a very long time. 15 years is a long time. It's the only culture you've ever known. The way they did work at that last company was all you've ever known.

So I think the settling will take care of itself. I think the bigger thing that I want to know is what are your concerns? What are you feeling concerned about right now? I want to find out if there's some depth to that or if that's just kind of some natural stuff going on. Yeah. I mean, I guess at my previous employer, I felt confident that I had built a very good reputation and that, you know, my, my loyalty to the company and my, I always

had the company's best interest in my heart. So if I, if I made a mistake, you know, it was kind of like, okay, well, you know, we'll work through that at a new company. It's all new. It's all new people. And I have a lot of responsibility, and this is the exact kind of job that I've been wanting. So I love it, but I'm also just afraid. That's 100% what's going on. So let's start with reality. In four months' time, you cannot build a reputation. You can make an impression. You can build a bad reputation. Yeah, you can. That's right. But a good reputation is developed over time so right now we're trying to make a good impression and and you're really worried and i understand

that but here's the deal if you look back on your past job you developed the reputation to where if a mistake was made they understood this is a rarity and this is not a character problem and it's not a competency problem it's just the natural workflow we all make mistakes but you develop that over time so give yourself a break you got to remember your history you developed it before you'll develop it again and so what right now this is a mindset thing so here's a little exercise when you start to feel that fear and kind of worry pop up during the day you need to just find yourself a quiet moment even if it's just shutting down down the email. People think you're looking at your computer, but you're just going to run through a mental exercise. Does this fear have any evidence that it's true? And if it has no evidence that it's true, we know that it's our mind, and it's based on fear, and it's going to

hold me back. And so then we flush it. If it's true, then that means fear is protecting you from something. But in this case, you have no history at all that says that you're going to make a bunch of mistakes at this new company in a job that you've longed for and you worked hard for. There's no evidence that says you're going to create a bunch of problems and mistakes that they're going to fire you. You would have to really intentionally do something bone headed to get to that place. True or false? True.

All right then. True. So believe in yourself, invest in yourself, and operate in confidence because you've been there before. Yeah, that's fair. That's very fair. Okay. Anytime you do anything for 15 years, doing the same thing in a different place is going to take a little while period whether it's job whether it's a relationship whether it's uh you know you change cars you've been driven one kind of car and you get a different kind of car it's going to feel weird going down

the highway i mean it just takes a little while it's just uh whatever the thing is and so because our human mind gets in a groove or a rut one of of the two. And now you've bumped up out of that, and you're in the land of adventure, darling. It's not unlike marriage. I love what you're doing, by the way. When you've grown up – so we went to dinner with a young couple the other night, Dave, Stacey and I, and they've just gotten married. Stacey and I are coming up on 25 years, and they were just saying, what advice would you give us?

And Stacey gave some great advice, way better than mine. But one of the things I said was, is that realize that first year is so difficult because you've grown up in one home. Both of you have grown up in different homes where there was a rhythm of how life was done. So maybe the dad did things this way in your home, but the dad completely did something different over here. And so you both are bringing expectations based on the environment you grew up in. And all of a sudden you get two completely different expectations because of different experiences and environments. And so you got to learn to adjust to each other in marriage. And I think this is a very similar situation. All she ever knew was the way that company did work. And a company has a very unique

culture. If you come to Ramsey Solutions and you've never been in a place like this before, man, it'll blow your mind how we care for each other, how we communicate so unbelievably clearly, very intentionally. And so any place, good or bad, is going to take some time because it's a really different environment. Yep. And it just takes a minute. It takes a minute to get your footing. It's that simple. So, Sarah, I like what you did, though.

I like your spirit of adventure. I like that you stepped out on this and said, I'm going to go do something big. It's time to shake off the cobwebs. And, yeah, good for you. Good for you. It's going to pay off for you. It's going to pay off for you.

Good stuff. Buvana is with us in D.C. Hey, Buvana, what's up? Hi, Mr. Ramsey. Thank you so much with us in D.C. Hey, Buvana, what's up? Hi, Mr. Ramsey. Thank you so much for taking my call. Sure. How can we help? Sure.

So I am 23 years old, and I'm going to be starting medical school in a few months. Congratulations. Thank you. I want to first of all say I'm super blessed. I was able to go to undergrad for almost next to nothing, and so most of my 529 I think will cover all of my medical education expenses. Yes, my parents were really generous with that. And I'm almost certain it'll cover all the expenses, but I do have $30,000 in savings. And so I'm wondering whether I should keep,

how to kind of divvy that up in terms of whether I should keep some of it just in case I have a couple thousand dollars left over that I do need to end up paying for if I should start investing because I know my retirement investments will be probably four to six years delayed compared to most people who are starting work now. Yeah, it'll be four to six times more income. That's true. So I think you'll be okay. Listen, the best possible investment Buvana can make right now is in Buvana. Yes. You are what's known as a cash machine. You are getting ready to make some serious bank because dumb people don't get into med school.

They don't let them in. And so, you know, you're going to go through this, you're going to graduate. You're going to pass your boards. And doing all of that with zero debt and starting off your career with zero debt is the best investment you can possibly make. You are a better return on investment than a mutual fund is. That's good to know. Yeah. So just trap all that money. And I want you, listen, you did a lot of planning. You did a lot of scheming and scamming.

You've laid everything out. You've dreamed about this in detail. Now do the same thing for the money part of it. Okay. You sound a little bit kind of wishy-washy and disorganized about whether the money is actually going to make it or not. I want you to sit down and develop a plan where the money makes it. Your money makes it. And graduate with $30,000 still in the bank. That would be great. want you to sit down and develop a plan where the money makes it your money makes it and graduate

with thirty thousand dollars still in the bank that'll be great i want you to lay out a detailed hd high definition game plan to get through med school with the money you've got and that's going to keep you from buying stupid butt stuff when you're tired out, taking some tests in the middle of the night. And so, seriously, lay it out in detail. This is The Ramsey Show. Ken Coleman, Ramsey personality, number one bestselling author, is my co-host today in the lobby of Ramsey Solutions on the Dead Free Stage. Jake and Kelsey are with us. Hey, guys, how are you?

Doing well. Doing well. Good to have you guys. Where do you live? Irvine, California. All the way to Nashville, all the way across the whole stinking United States. Way to go, guys. Thank you for coming.

And how much debt did you pay off? We paid off $456,000 in six years. Woo! And $300,000 of that was in the last three years. Wow. Good for you. And your range of income during that six years? We started at $175,000 and we ended at $285,000.

Cool. What do you all do for a living? I'm a teacher and he's a physical therapist. Okay. And so, wow, great incomes. So, what in the world world what kind of debt was this student loans yeah primarily student loans we had one car built in there but it was all pretty much made up of student loans 456 000 in student loan for a teacher and a pt

oh it was foolish in the beginning but when we were signing up for things, it was just, it'll be our problem in the future. We'll worry about it later. And then, obviously, it became our problem. Yeah. How long have you guys been married? 12 years. We actually had our anniversary on Saturday. Oh, happy anniversary.

Thank you. Very good. Okay, so halfway through your marriage, six years ago, that student loan's just still sitting there almost a half a million dollars staring at you and you you what wake up in the middle of the night in a cold sweat I mean what happened what in the world what changed what changed the direction on this so we grew up in Minnesota and then we moved to California for Jake's physical therapy school

and when he was in school we knew that we wanted to get rid of the debt somehow we just didn't know what the plan was and so while he was in school we were living on the teacher salary and I had a long commute and I listened to the Dave Ramsey show on my commute and so I asked Jake if he was interested in trying the program and basically the minute he got out of school we started running and I would say at the beginning we we were a little bit Dave-ish. And then that's when the last three years, you saw how we picked up and really worked to pay it off. Yeah, $100,000 a year for three years. You were after it.

I mean, you're on beans and rice. Absolutely. Jake, at one time, was working four jobs. Wow. So he's an inpatient physical therapist. So he was working at four different hospitals. That became a little too much, so he scaled an inpatient physical therapist so he was working at four different hospitals that became a little too much so he scaled it back but we sacrificed a lot of time I didn't see him a lot I did summer school he worked really hard you know 10 hour days every weekend

I would tell people Jake works every day and I think they heard jake works a lot it was jake works every day all day yes a lot of days yeah for a lot of days in a row for three years there amazing wow powerful uh guys there's so many times that i have sat with people or talked to people here on the air either one and they have a mountain of student loan debt like this and you guys are incredible because that was a wee bit daunting to look up and go I got 450,000 on a teacher and a PT's income because neither one of these are six-figure incomes usually but the way you worked them you turned them into that oh my gosh amazing yeah I got to ask because just the strain on your relationship, just not seeing each other, then you're exhausted, you're working every day. As your wife said to me, what kept you going in some of those dark days?

It was definitely knowing what the future held. And kind of as the one question we figured you'd maybe ask about is um one of the keys is sacrifice and um we definitely made the most out of our time um on the weekends a lot of times when i'd come home we knew we knew we would maybe go to church we'd prepare a meal we'd eat we'd visit with friends for a tiny bit and we'd have maybe one to two hours together so we really learned to cherish those one to two hours and we knew that once we got over with this life was going to be so much better on the other side and a few months out it certainly is yeah have you had a moment to kind of emotionally and financially and relationally exhale a little bit a little bit um has it hit you you know what

in a sense it hasn't because i'm still working some, working our way through the steps. And I actually jokingly have told Kels a couple of times when I go to work on the weekends, it almost feels natural. Like when I'm going to work extra jobs and extra shifts, when I stay home, it actually feels more abnormal. I'm kind of like, what are you doing here on the weekend? But it's starting to sink in. It's starting to feel real that all the hard work that we did for these years is paying off. Did you have a sense of release when it was gone? Definitely.

We knew the day that it was going to be gone. And we had the loan company that we were going to call and do it. And we had cookies made with getting out of debt and stuff. And so once we made that call and once it was processed, we definitely felt the relief. Yeah. Wow. Okay. I'm going to go back to what I said a minute ago. The $450,000, almost $500,000 is daunting because a lot of people give up right there.

It's too overwhelming overwhelming i can't get there it's hard to it's hard for people to internalize the belief the hope that they can ever get there and you guys did it in six years most of it in three years what do you tell that person who says oh man there's just no way i can't i can't i i kind of see how you guys did it but i can't believe it for myself you know know what I'm saying? Right. They need to definitely believe in themselves. And then, like, we're living walking examples, a teacher and a physical therapist. And we made it work.

As we said, it really comes down to dedication and hard work and definitely sacrificing and planning yourself. I think that you have to have a goal. I don't think there was a day that we didn't talk about the debt. Every single day we talked about it. And I think that's sort of been the release now too, is you don't have to talk about that, but you have to have that goal. What are you doing home? And what am I supposed to say to you? Exactly. But I think that people just have to figure out, you know, what you can do, that you can work those extra jobs, that you can be willing to sacrifice. Ours was a longer journey, and I think a lot of people sometimes are shorter. And so it's just what are you willing to give up?

You know, I mean, we drive a 1998 Camry. So, I mean, there's things sometimes you have to give up to get to the goal that you want at the end. Well, it's time for you to buy a car now. I mean, you really do need to get a better car. That one sucks. Oh, my gosh. Still works. Yeah, I know.

But you got to break loose, man. You got to be done. I don't want you to go crazy here, but go pay cash for it for sure. But, oh, my gosh. I mean, you have worked so, so hard. I'm so proud of y'all. Y'all are an amazing couple. Oh, thank you.

And you kind of look like you got a little PTSD a little bit, like you're still trying to. Yeah. mean you have worked so so hard i'm so proud of y'all y'all are an amazing couple and and uh you kind of look like you got a little ptsd a little bit like you're still trying to yeah shell shock still from you gutted it out so dramatically i mean there was so many years of saying no and we can't do this we can't do that um now like we you said the release is yeah coming taking a trip to nashville uh going to visit family doing things like that that we said no to a lot over the last several years so um now we get to enjoy these things on a much grander scale do you feel um when you do when you take on something this size do you feel accomplished quite yeah um if we did this we could do anything exactly yeah exactly all along the way um kelsey and i always tell people that once we even got towards the end we could already feel the freedom you talk about

the peace and it's indescribable even when we knew we weren't fully done we still felt as you mentioned the release already you've mentioned before it always feels like you're giving yourself raises all along the way and we for the longest time never even had to think much about money because we knew where it was always going to be going and now we just kind of transitioned that into better ways to yeah to save it and invest it i think we felt the peace along the way too it was um at first it was so daunting to put all those student loans and see them but once they started going it's like we felt like we had more money, even though every month our money went out the door.

But you just felt that you had that, I think because you're giving every dollar a name and knowing where it's going. That's good. You felt a sense of control before you were even debt-free because you actually were in control. Good for you. Hey, we got a copy of Baby Steps Millionaires for you.

That's going to be a cakewalk. I hope so. Yeahwalk i hope so yeah really and uh we got a copy of the uh total money makeover book and a financial peace membership as well you guys are incredible you're heroes i'm so proud of you thank you so much jake and kelsey irvine california 456 000 paid off in six $300 in the last three years, making $175 to $285. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free. Yeah. Wow.

That's pretty fun, boys and girls. This is The Ramsey Show. Our scripture of the day, Matthew 10, 31. Do not be afraid. You are worth more than many sparrows. Sarah Blakely, billionaire woman, founder of Spanx.

I think failure is nothing more than life's way of nudging you that you are off course. It's course correction. That's what it is. I agree. People in the technology field fail for a living. They call it iteration.

Yeah. Our good friend John Maxwell wrote a book entitled Sometimes You Win, Sometimes You Learn, which is a great perspective on failure. There's no progress without failure. He writes a book a week. Another one was called Failing Forward. That's right.

Jessica's in Syracuse, New York. Hi, Jessica. How are you? Good. How are you? Thank you so much for taking my call. Sure. How can I help?

Long-time listener, first-time caller. That was from my husband. Okay. So, yeah, I got that. To that end, I know that you generally say that, you know, emergency funds are not there to build you up, obviously. They're there for your security. Good.

So with that being said, how much effort would you put into chasing a better rate? Almost none. Almost none. said how much effort would you put into chasing a better rate almost our um almost none our emergency fund and our long-term savings has been in a high yield account you know before the pandemic it was at like two and a quarter it dropped way down to like 0.5 and it's sitting at about 0.85 right now and out of curiosity i jumped on the internet today to see what's out there and i saw another one sitting up at 1.5. That's fine. Move it over there if you want. That's fine. I mean, how much is in your emergency fund? The emergency fund is $10,000, and we've got our automotive sitting in there as well, so maybe another $2,000. Okay. So 1% of $10,000 is what? Oh, goodness. I'm an accountant. You're going to ask me to do math on the show.

Well, 10% of 10,000 is 1,000. 1% is $100. $100, yep. Okay, so moving from a half to one and a half over a period of a year, you made $100. Yes, I have a shirt sticking in the eye, right? Yeah, so it's okay. I mean, $100 is nice.

You can go out to dinner. Nice place on that. Well, reasonably nice place. But it's not going to change your life. Right. Even over a period of decades, it's not going to change your life. But what does change your life is having the emergency fund as an insurance policy when life happens that keeps you from cashing out things that are growing at a rate that does change your life so if you don't cash out your 401k to fix your transmission because you have an emergency fund that is a lot more than a hundred dollars

so your original point is what i would refer back to. But again, so would I spend 500 hours to get $100? No, I don't think I would. Would I surf the Internet every so often and see if I can get a high-yield thing that makes me an extra $100? Yeah, I might, a little bit. I've got a bunch of cash laying in the company here in our retained earnings business version of emergency fund, and we spend some time on that trying to, you know, figure out how we can park that in some kind of float account so it's not all just sitting and checking.

You know, it's just because it's a lot of money. But even then, its purpose is not to grow wealth for the company. Its purpose is to protect the things that do grow wealth for the company. And so just have to kind of balance that out. So, yeah, I'll spend some effort on it, but I'm certainly not going to major in minors. That's what it amounts to. the things that do grow wealth for the company. And so just have to kind of balance that out. So, yeah, I'll spend some effort on it, but I'm certainly not going to major in minors. That's what it amounts to.

John's with us in New York City. Hey, John, welcome to The Ramsey Show. Hi, thanks for having me on. How are you? Better than I deserve. What's up? Yeah, so my grandparents left me with about $200,000. I'm not sure what to do with it.

I don't have any debt. Landloading. And I don't want to buy a house for myself. But I do want to do remote landloading. But I was researching and some people said that it's a nightmare and property managers aren't that good. Yeah. Okay. How old are you?

26. What do you do for a living? I'm a software developer. Good for you. Okay. All right. And you're a single guy? Yep.

Okay. And you don't want to buy a house. Why? I don't like the maintenance, the lawn mowing, all that stuff, the cleaning. Mm-hmm. Mm-hmm. Okay. That's fair.

You like the freedom of not being anchored down to that house, yeah. They are a problem. I got a dadgum project at one of mine right now. It just drives me crazy. I told Sharon, the more stuff you own, the more repairmen you have to know. So I kind of go along with you, John. I told Sharon, the more stuff you own, the more repairmen you have to know. So I kind of go along with you, John. I like it. Especially at your stage of life, and there's no

rush for you to buy something. So, I'm sorry about your grandparents. When did they pass? A few weeks ago. Whoa! Just the other day. Both of them at one time? It happened in between. It happened within a few days, yeah.

My grandma had a heart attack after my grandpa passed. Oh, my goodness. Oh, man. I'm so sorry. Were you close to him? Yeah, pretty close. That's my reason for staying in New York City, even though it's pretty expensive, because I would say I love my family and want to be close to them yeah okay all right um no i would

not do remote landlording i think that's a bad idea if you're not willing to cut your own grass then i don't you don't need to be doing landlording uh not that you have to cut the grass there but it just tells me you don't like hassle and dude you're gonna sign up for a bunch of hassles so that sounds like some kind of get rich quick crappy site you were on or something there don't fool with that if i were in your shoes i'll tell you what i would do and it's very boring i would park the money in a mutual fund for right now or a couple of three mutual funds and just forget it forget that it's there and just let it grow and then uh a little further down the road if you decide you want to buy a property or maybe you're getting married and you want she wants you to buy a property or you know that kind of stuff is happening then you know

that's the kind of stuff i you know but but for right now it might be three years before you do anything with it and the stock market's way down right now, so it's on sale. So if I woke up in your shoes and I had an extra $200 that I didn't really have anything to do with, first thing I'd do is try to put it someplace where I keep my hands off of it and not spend it, right? And then the second thing I would do is put it someplace where I couldn't spend it. Yeah, yeah. You know, having said that, that though you might want to earmark

a little bit of it for fun and pull it out and go do something fun have you got any ideas on that yeah yeah probably uh probably travel to europe or something so what's that cost um haven't looked at okay yeah i mean budget,000 or something or $10,000 or something and go do that and the rest of it. Sit down, go to RamseySolutions.com, click on SmartVestor. You can sit down with SmartVestor Pro and begin your education on investing, begin learning from an advisor. You don't take an advisor's advice.

You don't take Dave's advice. You sit down and you hire, other than the piece of advice, this is you're supposed to learn about something before you invest in it. And that puts him in a pretty good position. It really does. You know, beyond doing something fun with it, I'd also just let your heart wander a little bit and, you know, do something good with it. It doesn't have to be huge. Don't really feel any pressure to do that, but something good, something good with that money, you know. Some kind of generosity generosity that's not a bad way to kind of start moving into this phase because it uh it'll really set something in place something special in your heart this is something your grandparents did for

you it's a way of honoring them but again i don't want you to feel any pressure to do that or on a large scale but just do something good do something fun i like that combination then do something smart yeah yeah maybe you know if you put five percent of fun and five percent of generosity that'd leave you on 90 yeah to something like that no pressure but zero it's always good to try to do those three things have some fun with the money be generous with the money and invest the money in this case the vast majority of it i think i'd be investing yeah and i would limit the fund but i think i would do something there um and you know when you get to 30 years old or 35 years old and you look back and whatever you've ended up doing with this money it needs to do it needs to be something that would have caused your grandma and grandpa to smile yes

and then you've honored their memory because they had common sense they were obviously good with money they had some money they left their grandson 200 grand that's pretty incredible so ken coleman good show today thanks for having me good work in the booth kelly and andrew and zach and ben and austin good job you guys i'm Ramsey, your host. 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. Hey folks, Ken Coleman here. Did you know The Ramsey Show is one of the most popular podcasts in the world? Get your daily dose of advice on life and money. Check out all of our shows from The Ramsey Network wherever you listen to podcasts.

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