The Ramsey Show - App - I've Built Wealth But I'm Still a Tightwad (Hour 3)

Episode Date: February 15, 2022

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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. George Campbell, Ramsey personality, host of the Ramsey Networks podcast. The Fine Print is my co-host today. We're answering your questions about your life, about your money, your career, your mental health, your relationships. It's all right here, and it's all called The Ramsey Show. The phone number is 888-825-5225. Natalie is going to start off this hour in San

Antonio. Hi, Natalie. How are you? I'm good. How are y'all? Better than we deserve. What's up? Well, I am looking for some help for my mom, actually. I'm active duty military and I'm only child. I'm stationed in San Antonio. My mom, she's 64 and disabled. We're originally from Louisiana. Due to the hurricane season that was just wild in 2020, I moved her in with me just because the stress of running away from hurricanes and her disability was a lot. So I moved her in with me in San Antonio. And right now we're looking at selling

the house. My question is, well, two, if you don't mind, one, are there any tax laws that maybe they need to be aware of? Or, and two, with this being basically all she has as far as retirement, what's the best thing to do with this money um since it'll be probably a hundred thousand maybe a little bit over okay what will the house sell for um a little over a hundred okay so it's paid for it's paid for okay there's no taxes first question's easy there's no taxes single person can make up to 250 000 profit000 profit on their primary dwelling, their residence, and they don't pay any taxes at all on it. And so that's her situation.

She's going to pay zero taxes. Now, you're in the military, so what happens when the military moves you? Are you just going to move her? Well, I bought a home in Santonio so she'll be living here if you move off yes who's going to take care of her oh well her limit her disability isn't to the point where she's confined to a wheelchair or needs assisted living at that time um she could still walk around. It's more affecting her joints and bones, but she could still move around, feed herself, get dressed, things like that.

Okay, so she's going to live in this house regardless of where you live? Yes. How old are you? I'm 25. What happens when you get married? I mean, that's not on the table right now, but I actually have not thought about that. Okay.

I just got to have a plan for mom. Right. And I don't want a plan where we're pushing things together. We don't have to. So it sounds like in the near term, in the next five years, you're not going to need housing for her. Other than what you've already got, the housing. Other than she could stay with you probably for that long anyway, right? But she might need this money to buy a retirement condo in a retirement community or something

should you get married and start your family if you don't have her in the house at that point. I'm not trying to kick her out. I'm just trying to make sure we've all got options. So that means we're just investing the $100,000, right? She doesn't need the money, does she? No, sir. No, she still has Social Security, and, I mean, that's really all she needs right now.

What's coming in from social security what's her total income per month um right now it's about 1500 a month okay she has no housing but she has no housing cost no no but she might one day right but i'm saying today the 1500 a month you can live on if live on since Natalie's furnishing food shelter utilities, right? Right, yeah. Which is not a good long-term game plan. In Louisiana. Yeah, the Louisiana utilities are all off.

She might pay for maybe less than $50 for the home insurance. Yeah, but I'm saying if the house is sold and she's living with you, you covering utilities and housing right right yeah and so the 1500 will go a long way then she'll be okay without having to mess with the hundred thousand so let's let's sit down with a smart investor pro and get that hundred thousand invested um because it's probably going to be five years before she needs it okay so click smart investor pro at RamseySolutions.com. Find the person that we recommend. Sit down with them with your mom,

and she needs to understand it, not do it because I said to her or someone else said to. But I think a good long-term investment's in order there. Yeah, and based on, you know, we've got an equation about every seven years, if you got about a 10% rate of return, that money would double. So after seven years sitting there, I mean, if you did nothing to it, that could be $200,000,

which could get her a property in seven years. Yep, absolutely. So I like this plan. And so there's a lot of different options here that we've got. But yeah, just the trick is not to burn through that money. That's the trick. That's why I was asking about the living on the $1,500 and making sure that we're able to do all that. So good good question thank you for joining us tom's with us in kansas city

hey tom welcome to the ramsey show thank you dave what's up well i've been listening to you for i don't know 20 30 years it seems like forever i don't know life without you really um but i i've been following your your principles loosely well i'm not as rigid and as rigid as probably i should have been and i could be wealthy probably if i did but i want to know right now if my wife and i if we're anywhere near we want to retire early we want to start you know living and giving like no one else when can we start that do you have a paid for house? Yeah, $500,000. Awesome. You got no debt. You got the emergency fund? No debt, $150,000 in cash, $2.3 million in retirement. You guys are incredible. Totally. Thank you. Thank you. How old are you guys? I'm 54. She's 60. Okay, man. Well,

you guys have done really well. I mean, now's the time. What are you waiting for? What's holding you guys back? Really? I don't know. I just don't, you know, I don't know. You know, as far as she gets health insurance for us because it's federal, so that insurance, that will be good. But we're looking at maybe a year or two,

and, you know, we can start giving some money away to people. I want to give it to people who, like Secret Santa Claus, that Santa Claus-type thing, you know. Just probably just go up to somebody. Yeah, anonymous, or you just go up to somebody who you know needs it and could use $20. Mm-hmm. Well, here's the thing. What you do is you just say, this is the income we live on, and it includes our giving budget. This is the income we live on, it includes our giving budget this is the income

we live on and it includes our fund money and our our splurge money and this is you know and when you look at 2.3 million dollars um if you said oh just round numbers 10 percent be 230,000 a year be your income you don't want you don't want budget that i don't think you're not that guy but i mean if you if you lived on 100,000 a year, you could do a lot of giving on that, right? Yeah. If you're not talking about giving away a million dollars, then, yeah, you're ready to go. If you're talking about giving away $20, you're late to the party. You should have already been doing that.

But, yeah, I think you're in a position to enjoy the money. You live like no one else. You just need to sit down and do some math. And what Sharon and I do is we just give every dollar a name. And then when we give that, we don't worry that we're not going to eat because we gave away too much. Or we're not eating so much that we didn't give away anything. You have to balance it all out and just have a little game plan. That's all it takes.

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Plus, this year, we have a promo code that will truly make it free to file your federal income taxes. Go to RamseySolutions.com slash SmartTax to get your promo code and file without the surprises. RamseySolutions.com slash smart tax. Chad is with us. Chad's in Lansing, Michigan. Hi, Chad. Welcome to the Ramsey Show. How are you doing?

Better than I deserve. What's up? Well, me and my wife kind of kicked an idea. We haven't for the last couple of years kicked an idea of building a house. We bought this 52-acre farm back a few years ago, and we paid that off. And then there was a house that came up for sale next to it. We bought that. It's kind of a small house.

We rent it out now. But our dream is to kind of build a house. And I just, you know, $370,000, and it just makes you real nervous. We kind of live below our means, and we just don know 370 000 and just makes that makes you real nervous we kind of live below our means and we just don't know if it's the right decision or not what's your income i would make about 130 000 how much money you got oh i got a hundred thousand in my savings i got a thirty thousand dollar emergency fund and i got sixty thousand in my business account wow about retirement what was that how much in retirement i don't have none that's another thing i'm kind of worried

though how old are you 41 okay yeah time to get in gear i know it is yeah so where are you guys living right now well a friend of mine passed away about 10 years ago and his son was uh lives he's in a wheelchair and need a little help so i live in that guy's house and i just make sure this guy has what he needs so we don't have no expenses there but he's 61 and when he does if something happens to him we got 30 days to get out so we kind of i, I don't know, it seems like we're 40. We kind of want to get our own place, and I don't know. Well, if you put $100,000 down on $370,000 on a paid-for piece of ground, you have a $270,000 mortgage making $100,000 a year.

You ought to be okay. I think so, yeah. yeah 15 year fixed rate or less yep so this is how i take my 100 000 savings should i pay this other house off rental house off oh you owe money on land for equity you owe money i owe 50 i owe 52 000 $52,000. What's it worth? What's it worth? It's worth about $150,000.

I was hoping to maybe sell it to one of my kids here in four or five years. Well, that would give you another $100,000 if you just sold it. Then you put $200,000 down on your $370,000, you'd only have a $170,000 mortgage. Yeah. What's the income on the rental? I get 800 bucks a month. That's low, but there's a couple guys I know that work for me. Yeah.

I'd sell it. I'd put 200 down on the 370, and I'd start to break ground on the 370 immediately. Okay. And that'll give you some peace around these numbers if that's the more you i want to move you towards getting this this new house paid off more than i want you to be a landlord renting something out for 800 bucks yeah yeah it just sounds more fun to me i can visualize five years from now you're saying i can visualize you're 45 years old, 46 years old, and you're living in this $370,000 house on 52 acres, and it's all paid off, but you don't own the rental. Whoop-de-doop-dee. I like that plan a lot better.

And then get in gear on this investing stuff. Yeah, start putting 15% of your income away immediately for retirement. Maybe step four. Another 20, 25 years, I i mean you could absolutely retire millionaire with no problem so i like this plan good point done good point baby steps millionaires book is coming your way hold on we'll have the team pick up and give you a copy it's the number one best seller i just did called how ordinary people built extraordinary wealth how you can too but i think you need to go ahead and do that and start building now um 30 days to get out

is not a good plan and if you get the house finished and it's time to move in you'll have to make other arrangements for your friend that you've been caring for there your guys that are living in that rental are going to have to make other arrangements because you're getting ready to sell it and that's what we're doing dude and it And it's not cold. It's just, you know, you need to move your stuff towards your goals first. And when you gather everything up and point it at that one goal, you're going to get there pretty quick. Angel's with us in Orlando. Hi, Angel.

Welcome to the Ramsey Show. Thank you for having me. How you guys are doing? Better than we deserve, bro. What's up? A little bit of background. I'm an immigrant. I have five years in the country.

And just right now, my wife and I, we're starting to understand the economy, how the money works here. So I just have my two trucks. That's about like $85,000 in debt. And I thought that was perfect because everybody have a loan on their car so i started hearing your podcast and i realized that i have to do something about it but i wonder if that would be a good idea just paid off these trucks or get rid of them so i'm just looking for your advice right now i love it well you know that that is the american way right you move here and you get to get a car payment as part of it.

So what's your income? Yeah, exactly. What's your income, Angel? My wife and I, my wife and I will make $170,000, and I have an extra between $20,000 and $40,000 bonus by the end of the year. Awesome. Why don't you just pay these trucks off? That's what I thought, but, you know, you always say that, you know, get rid of the trucks, get a beater.

So I just wanted to confuse this. Well, the only reason to do that is you got other debt other than this? No, sir, my house and my truck. You got any money? My house? Do you have any money? Yeah. Yes, I have around $10,000 in my bank account right now.

Okay, not much. Where's your $170,000 going? Did you just start making that, or are you blowing it? No, we just started breaking that this year. We get a new job. We're a construction manager, so we get this payment right now. What are the trucks worth total if you sold them today? What would you get?

Around $65,000, $67,000. Yeah, they're under half your annual income. If I were you, I'd roll up my sleeves and get them sold. Or get them paid off, I'm sorry. I would just lean in and say, all right, we're going to pay these off in a year. Because you're not used to making $170,000. Don't act like you make $170,000. Put it all on the trucks.

Yeah, this is really new for us i'm really excited about the money but i think like yeah don't don't blow it put it on the trucks and keep the trucks that or sell them i don't care if you want to sell them that's okay and move down in truck but you do need to be rid of the debt in the next 12 to 18 months one way or the other either by paying them off by getting on a real tight budget it's not that tight what were you what'd you make two years ago about 70 yeah go live on 70 and put 100 on the trucks yeah that's that's the mad guy too i just you know want to check it out with you and give you advice yeah okay and based on the numbers angel told me you've got uh 65 000 in worth on these and you got 85 in debt so he's underwater on these trucks so it's me, you've got $65,000 in worth on these, and you've got $85,000 in debt.

So he's underwater on these trucks. So you're going to be in a predicament even if you sell them. You're still going to owe $20,000. Yeah, they might actually be worth more than he thinks they are. That's what I'm wondering, too, in this market. In this world. Especially a truck. Either way, I think what you've got to do is you just woke up and realized the American dream.

Parts of it might be a nightmare, and we don't want to live like this. So we're going to do this. I just love. He comes here five years this year. He's making $170,000. It's incredible. And just incredible. Way to go, Angel.

Opportunity's still out there for people who are willing to work for it, turns out. Little man can't get ahead. Angel got ahead. Angel got ahead. Shut up. You can do this stuff, people. Hang on. We're going to give you a copy of Total Money Makeover,

show you how to do all this whole money thing top to bottom. It'll walk you through exactly what to do. But in your case, I would keep the trucks and pay them off in 12 months, 14 months, something like that. Lay yourself out of budget. Lean into it. Make it a goal. Be done. Keep the trucks and pay them off is what I would do.

This is The Ramsey personality, is my co-host in the lobby of Ramsey Solutions on the Debt Free Stage. Eric and Morgan are with us. Hey, guys, how are you? Hey, Dave, we're doing great. Where do you guys live? Lawrenceburg, Kentucky. Oh, just up the road. Cool.

Welcome to Nashville. Thank you. You're here to do a debt-free scream. How much did you pay off? Paid off $94,408. Good for you. Way to Nashville. Thank you. I'm here to do a debt-free scream. How much did you pay off? Paid off $94,408. Good for you. Way to go. And how long did this take?

25 months. Good. And your range of income during that time? I started around 80 and kicked it up to about 110. Good. What do you guys do for a living? I'm a police officer and also in the Air National Guard up in Kentucky. And I'm an occupational therapist.

Oh, very good. Good. Okay. What kind of debt was this $94,000? We paid off some student loans, a couple of cars, a cell phone, just a lot of normal. You guys sound like you had a little bit of everything. A little bit. All right.

Cool. Welcome to not being normal. Welcome to weird. Yeah. Glad to be here. Yes. Very nice not being normal. Welcome to weird. Yeah. Glad to be here. Yes, very nice. Very good. Wow.

Okay, so what started this journey? How'd you get connected up with this Ramsey stuff? Well, it was fall of 2019. Our oldest was a couple months from turning 10, and I just kept thinking, if the next 10 years go as fast as the first 10 he's going to be 20 and we'll have probably two in college and there we were you know 10 years or so out of college ourselves still paying on student loans and we really wanted to change what what we were doing so that when they're in college that we can you know help them and get them started into adulthood without

debt amen that's cool so um that's kind of weird yours is following you up from behind and you're staring down the barrel there's coming at you yeah oh yeah that's a double whammy if your kids are taking on debt while you're still paying yours off it's a bad situation absolutely we did not want that so he was away with the military and i never sleep very well so i thought what better time to figure out exactly how much debt we were in than two o'clock in the morning when i couldn't sleep and after i saw that number it just it made me sick to my stomach and be able to sleep at all and then i really couldn't sleep exactly so um when he got home i you know kind of laid it out was like hey this is how much debt we're in. And if I downloaded the Total Money Makeover on Audible, would you listen to it on your commute?

And he agreed, and that's got us started. Wow. And you just listened. You said, all right, I'm willing to sit down for six and a half hours and listen through this thing. I might have been a little hesitant. He was a little hesitant at first. He said, I'll do it on 1.25 speed that's all you're getting at me it uh took me a couple weeks maybe to get behind it uh but once i figured once i listened to it i

figured well if we're gonna do it we're gonna go all in and uh were you losing sleep you seem like you were kind of like i feel like everything's fine did you feel any of the weight she was feeling uh i feel like i think she was she has a hard time sleeping when i'm gone but uh i think once i listened to the uh to the book i was just just ready to go and get it made sense yep wow that's cool cool very good job guys how's it feel now that you don't have any payments? A burden off our shoulders. How long have you been married? About 13 years. Going on 14 years.

14 years in the spring. Never debt-free any of that time? No. Not until now. Not until now, yeah. That's a whole different way of looking at life now. It really is, yeah. Wow.

Very cool. Yeah. All right. Tell people what the key is. You pay off $94,000 in 25 months. Two years you did it. Yeah. Almost $100,000.

That's impressive. Yeah. What's the key to getting out of debt? We never made a budget. Until then. I mean, yeah. Until then. Until then.

That was the key. That was the key. Oh, God. The key is never make a budget. Make a budget. But, yeah, the problem was is we never made a budget. Yeah. So, you know, we made good money and

we're paycheck to paycheck trying to figure out what bill is going to be late and uh you know it really just took us sitting down making that budget and getting everybody on the same page so that we can make some progress yeah and for me also you know the budget but also just knowing your why and having that reason that, you know, kept you motivated. And like, you know, you all say you're doing it for the so that. And that's really what kept us going was, you know, so that we can help our kids through college. So that we can travel while they're little and make memories. And so that we can plan for retirement. So, you know, knowing that why, you know, keeps you going when it gets hard.

It's a big deal. It's a big deal. It's a big deal. You got to have a reason more than I just want to be free. Yeah. And because it gets too tough. I mean, that's a hard two years. Y'all had to be real careful, real smart and sacrificing. What did you give up that was the hardest thing to give up?

We like traveling and doing things with the kids, going on trips and things like that. So we were fortunate. We spent some time with family, and they helped us out and do little trips or maybe take us out to dinner from time to time. But tell them that we can't do that right now. We're going to do it later. Yeah. Like I said, we're not going to take any trips now, but once we're through this,

then we'll have a good trip. We'll make up for it. Yeah, exactly. That's awesome. That's incredible. You guys, definitely, it's amazing. The theme today is I had to look in the mirror and look at the reality of my situation and have the why that kicked that all off. And oftentimes it's family, it's the kids.

And you go, I don't want my kids to experience what I've experienced, what I grew up in. And now they get to live in this brand new legacy that you guys are building that's incredible way to go you guys thank you way to go very proud of you what was the hardest part for you that i'd say so yeah just postponing uh all the extra fun um you know eating more dinners at home you know coming home late at night after work and just wanting to stop and pick up a pizza but you know hey did anybody know you were doing this do you have outside cheerleaders oh yeah we pretty much told anybody that would listen yeah we were going through this and um but yeah our families were big cheerleaders our kids um you know they sacrificed a lot too i feel like you

know i one of my extra things that I did was I taught online in the mornings and at night and if he was at work or if he was gone, you know, they would help out with our now three-year-old. The big kids would help, you know, watch him, keep him entertained while I was teaching and sometimes they missed out on sleepovers because of it and so, I mean, they sacrificed a lot and but now we can scale that back i think they're gonna be okay all right well well done we're very proud of you guys you're incredible very good job very good job we've got a copy of baby steps millionaires for you our latest number one bestseller on how ordinary people built extraordinary wealth how you can too that's your next chapter we want you guys to go on and be

baby steps millionaires now oh Oh, yeah. Thank you. You're right on track to do it. You're doing all the smart stuff. Very well done. And a copy of Total Money Makeover for you to give away, get somebody's life started. You got it started with a TMMO audio, obviously. So that's a Total Money Makeover. I'm using inside initials here.

Yeah, the lingo. You've got to let people know. Yeah, that's it. All right, bring the kiddos in. Tell us their names and ages. We have Carson that's 12, Macy is 10, Nolan is 3, and Trevor is 9 months. All right, way to go, guys. Looking good. Very fun.

Good stuff. All right, Erica, or I'm sorry, Eric and Morgan, Carson, Macy, Nolan, and Trevor from the Lexington, Kentucky area. $94,000 paid off in 25 months, making $80,000 to $110,000. Count it down. Let's hear a debt-free scream. All right. Three, two, one. We're debt-free!

Yeah! Whoop, whoop, whoop, whoop, whoop, whoop, whoop, whoop. That's how you do it. We call it a scream because you're supposed to scream. Good job, you guys. Don't you dare show up here and not give me a full-throated scream. I like it. I like it.

I like it. Well done. Man, I'll tell you, the common theme among people who build wealth is, A, they get out of debt, B, they're working together, C, they're on a budget. But the overarching theme is two big things. They have a why. They have a reason for doing it. Simon Sinek, our friend, wrote the book Start With Why.

And all of this creates just an intentionality. You know, what he said there early in the time they were on the stage there was, we made a lot of money, but we never did a budget. And we had no idea where it went. But as soon as we started telling it what to do, it was magical. That's amazing how that happens. When you pay attention, you go, oh, my gosh, we make too much to be this broke. Where is this going?

Let's find out. Number one problem with Americans' money, they don't pay attention. They don't pay attention. Once you start paying attention, you start doing smart stuff. Nobody does stupid on purpose. It's usually by accident. That's right. This is The Ramsey Show. Thank you. Our scripture of the day, Lamentations 3.25, The Lord is good to those who wait for him, to the soul who seeks him.

Winston Churchill said, success is not final. Failure is not fatal. It is the courage to continue that counts. One of my favorite Churchill quotes is, success is going from failure to failure without loss of enthusiasm. Man, he was just a quote wizard. Yeah, my computer guys call that iteration, but going from failure to failure without loss of enthusiasm. I like Churchill's better.

Yeah, that's definitely it, definitely it. Casey's with us in Billings, Montana. Hi, Casey, how are you? Hi, Dave. This is a dream calling you to get your opinion on something. So thank you so much for taking my call. Our honor. How can we help? Long-time listener. I'm honored.

Okay. I am 34. My husband is 43. And we own over $2 million of real estate in a kind of touristy area in the mountains, which as you can imagine, last few years, it's just blown up. Um, one of which we own outright completely. And we have that as an Airbnb and we're getting about $50,000 or more on it. And on our main house that we're living in, we owe, I'm sorry, 390,000 on it, which the passive Airbnb money is completely going to the mortgage. We're like, no, it's our only debt. We don't want to have that mortgage. And it's so daunting if you just pay the minimum required every month. So we have a plan that we're going to knock that down in like six years.

Well, now my husband, who is a contractor, he has worked to the bone since he was a child. He just grew up doing like hard labor. His body just can't take it anymore doing construction. And though his business does very well between, you know, on a low year, maybe $150,000 to a good year, maybe $300,000 a year. It's almost costing more to stay in business because you can't find employees. The equipment that you purchase is not made how it was 10, 20 years ago. It falls apart, and you can't get parts to fix it. So we're kind of bleeding money on the business side, and now he's like, well.

Wait a minute. Whoa, whoa, whoa, whoa, whoa, whoa. Oh, okay. Stop, stop, stop, stop. Okay. The premise is that contractors are all losing money because of employees and equipment. Bad premise. I'm not buying.

It's kind of. I mean, he's making money. He made $150,000. Yeah. No, he's definitely making money. Profit. Yes. Profit.

Okay. But at this point. But is he still working with his hands? Yes. Why? He is. Why didn't he delegate it? We have two guys, and one of them, they all have their specialties.

Why does he not delegate it? Hire someone to do the work he doesn't want to do anymore. He's tired of it we would love to but where we're at it's very rural and i would say construction's probably um the last industry that um you know the youngins want to work for it seems um we we've had a very hard time finding people the most we've ever had is three. I think it's because your husband's so dadgum picky and hard to work for. Well, I mean, not necessarily,

because we don't really have any barriers to entry. We have even... Okay, listen, everybody's got labor problems in every market in america right now yes everybody does but the whole premise that you can't hire somebody as an overall concept to do the work ever is a ridiculous premise yeah okay okay if you want to quit quit but find a better reason. Well, this is my reason, actually. That was just kind of like a side segue. Well, you know, hey, you know, it's not what it used to be, business.

And it's not more we're losing money, but it's, you know, when you buy a nail gun, for instance, and it lasts about 30 nails, and then you have to buy a new one, not only is it... You're going to have to quit exaggerating because you're killing me here. Well... Nail guns don't last 30 nails and then fall apart. That's really not exaggerating. We have had the worst luck with all equipment.

It's unbelievable. I mean, it's like, you know, and... Okay, let's just stop. What's your question? Okay, so we had the opportunity to rent out our main house that we're living in now and make 50 or if not more because it's twice the size of the other one. And we were thinking, well, at at that point we could sell our business and he could just retire and do nothing and do nothing at 43 years old well that that's why i was calling yeah because i don't it's not

a financial question that's just a dumb life plan okay because you know you don't want to do nothing for 45 years of your life if he lives tonight i was yeah i think i i was thinking maybe you'd say that but um it's kind of like um he's you know he's worked day in day out to get to this point and now he's worked day in, day out to get to this point, and now he's just ready for a change, or even to take like an extreme pay cut and just do something fun. He's just tired of... Can he do something fun and also make money doing it?

I think that's a possibility. Yeah. Casey, are you working in the business with him? Are you working outside of that? I help with certain things, but I have like a craft business that I do. Do you live in Billings? Yes. Okay.

You're not in an extreme rural area. That's a reasonably sized town. I was there not long ago. We're a little bit outside of Billings. Yeah, but I mean, if you're a little bit outside, you have access to the economy of Billings to do another career of some kind. You're obviously both done with the construction business. Sell it. But for God's sakes

go find something to do with your life airbnb is not the god's call on your life and besides that that's going to at some point end that's not that this is not this has not got a long shelf life i mean it might have a five-year shelf life it might have a 10-year shelf life but it's not a good 20 year plan to run an airbnb uh because it's it's an unproven process it's proven right now it's not a good 20-year plan to run an Airbnb because it's an unproven process. It's proven right now, and it's doing real well. A lot of people are doing really well with it. I'm not trashing it. But you're making unrealistic money on this real estate that I don't think you're going to make throughout the rest of your entire 45 years of life.

So, no, we're not going to quit work and throw up our feet and sit on the couch and drink beer for 45 years of life. So no, we're not going to quit work and throw up our feet and sit on the couch and drink beer for 45 years and live off Airbnb money. No, I would not do that. And Casey, I'm feeling a lot of this starry-eyed about the rental properties and what we could make if we got another rental property. And it sounds like you guys are pretty over leveraged because you didn't pay off the rental properties. You've got your primary mortgage. Now you're going to have that mortgage and you're going to move somewhere else. And they're going to go, what if we rented this out, and we move somewhere else? And it just feels like you guys are just chasing your tail trying to make this money.

You're exaggerating on the one side with the Airbnb being better than it is, and you're killing me with your exaggeration over here on how horrible the construction business is. Over a nail gun. Because the construction business is actually the best it's been in 30 years. If you want to make money, this is a great thing. So all this is is the hyperbole around it. So, yeah, cut the drama back, and if you want to get out of the construction business, that's fine.

If he's tired of it, I don't have any problem with that. It's hard work. I'm not arguing that. But find something else to do before you sell the business and then get the business sold and move on to something else. And you're not in such a rural area that there are no opportunities. Again, that's overstated.

Billings, Montana is a sufficient city to have a sufficient economics to create a career for yourself. Doing something else. Whatever it is you want to do. But Airbnb is not your answer. Hope that helps. You bothered to ask, Airbnb is not your answer. Hope that helps.

You bothered to ask, we'll bother to answer. George, good hour. Thank you. Fun time. That puts this hour of the Ramsey Show in the books. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus.

This is James Child, producer of The Ramsey Show. Did you know The Ramsey Show is one of the most popular podcasts in the world? Subscribe or follow today wherever you listen to podcasts.