The Ramsey Show - App - Ladies, Don't Chase a Boy With No Ring! (Hour 2)

Episode Date: March 28, 2019

The show about you

Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Dave Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. I am Dave Ramsey, your host. This is your show. Thank you for joining us. It's all about you. The phone number is 888-825-5225. That's 888-825-5225. Callie starts off this hour in Charlottesville. Hi, Callie. How are you? Hi, Dave. I'm doing well. How are you? Thank you for taking my call.

Sure. What's up in your world? Sure. So I'm faced with kind of a job transition decision here. So I work on a grant program that's ending very soon. And I've got the opportunity to start a new job here in Charlottesville that would allow me to keep the vested portion of my 401k. If I stay in this new job, I'll have been here for two years, which will allow me to keep the fully vested 401k. But I also have a long-term relationship and my boyfriend lives about two hours away. And he would like me to move to be closer to him and look for jobs where he is. So I'm faced with the decision of staying here and potentially starting this new position or, you know, continuing to be in this kind of long-distance relationship. How old are you?

27. Okay. All right. Well, I have two daughters approximately your age that are both married at this point and both have careers as well. So, I mean, there's two or three ways to, I guess, answer this question or look at it through different lenses. Where would you be moving? Washington, D.C. Okay, which is a larger market than Charlottesville, obviously.

Yes. And so, you know, I guess the primary thing I want to ask you is, regardless of the boyfriend, what's best for your career? Let's pretend like he's not in the picture. Mm-hmm. Well, I do think the job here is a good opportunity, and then there's the added benefit of getting, it would be about $8,000 extra for, like, my retirement savings.

I'm really not going to make your long-term life choices based on a grand. I'm going to say, where do you want to end up when you're 46, if you're 26 or 27, where do you want to end up, and which of these paths takes you there? And it's not v these paths takes you there and it's not vesting that takes you there it's it's what is good for your career what makes you come alive what are you good at what can you plug into where will you make the most money um the eight thousand dollars is a it's a false start i mean it's golden handcuffs so it's a nice thing and if we're going to do it it's another reason to do it but it it's not the reason. So the driver is what is best for Callie.

That's what the driver is. And you don't really have anything definite over in D.C. You just have a large market there, and he wants you to come. Yes, and I did used to work there, and I could go back to my former employer if I needed to. And what would you make there? I could make about $60,000. And what do you make now? About $50,000.

And the new job that you're talking about moving into pays? Probably $55,000 to $60,000. Okay. And why did you leave your former employer and leave D.C.? Well, I didn't love living there for one thing well i didn't love living there for one day you didn't love living there yeah and um i i did a grad program okay so maybe he needs to move to charlottesville that's that's on the table but he just started a new job there as well okay well i mean so i guess you're asking yourself your question. I mean, do you want to live in D.C.? And you've already answered that question once.

The answer was no. Right. Right. Hmm. Okay. I, you know, for me, I'm an old-fashioned guy and an old guy. And so now I'll take off all of that, those hats, and I'll just put on the dad hat for a minute. Don't chase a boy with no ring.

Right. exactly. That's a dad talking. I mean, if he wants you over there, there's some bling that goes with it. Right, that's what I'm thinking, too. And I'm not trying to blackmail him into something. I'm just saying, you know, that makes you appear needy, and you're not needy. Right, right. So, yeah, I think we just continue the relationship conversation, and we don't want to force it artificially.

I'm probably taking the job in Charlottesville, and you're not signing a long-term contract. You're just taking a new job. And if he decides to come to Charlottesville and become engaged, that would work. Or if you became engaged and you decided you were going to leave some period of time later and move towards dc that that would work but i'm not chasing anyone they'll ring uh that's just the dad talking but and there's several ladies in the lobby nodding right now so there you go uh just don't think about i just think you think, you know, talking to you, you're obviously intelligent, you're articulate, you've got a bright future, and he may be a wonderful guy.

But at this stage of the game, it's not time to do that yet. Stephanie's with us in Park City, Utah. Hi, Stephanie, how are you doing? Hi, Dave. Doing well. Thanks for taking my call. Sure. What's up?

So my husband and I are sitting in a house right now in Park City that we built two years ago. And we were sitting on $300,000 to $400,000 of equity. Took out a HELOC to get some land with part of that equity. But we still have $300,000 to $400,000 in equity. And we were wondering if we should sell our house now because it feels like the market's so strong, or sit on that asset and turn it into a rental property and get $2,000 a month long-term and have... Where would you move it if you sold it? So we would take that money, and we would probably go partially free with, I think,

a $200,000 mortgage versus right now we're at $400,000. And then reinvest the rest of the money in land. Where would you live? So temporarily we'll probably just get a rental, a condo in town. Okay. I would not do flips while I'm renting. I would want to own something somewhere. What do you all do for a living living my husband's a software engineer um i stay home with the kids okay all right um

so you're not going to build on the land we are building a house on the land um so just during during the building construction process. Oh, okay. So the long-term plan is to finish that construction, sell this property, and move into it. Yes. And how long will it take you to build the property? Well, we can qualify for all but $100,000 that it would require to build it. And we could keep both properties that way. Or we could get a rental history built up over the course of six months or a year. The most volatile real estate of all is development real estate.

The second most volatile real estate is resort real estate. Yeah. And Park City is way up or way down. Yeah. And I was just in Crested Butte. Crested Butte is way up or way down and i was just in crested butte crested butte is way up or it's way down all beach property mountain property is way up it's white lake house i got a lake house it's way up it's way down and so i would not use that as my rental investment portfolio especially when it's going to comprise a large portion of your net worth so if i'm in your shoes i'm selling it moving the condo rent while you get your property built on

the land move on to the land and then you're good but yeah i think i think that first part i didn't get the initial when we first started talking how it was going to work but yeah i'm selling it i wouldn't keep it as a rental because of the volatility this is is the Dave Ramsey Show. One Dental is a company I've been telling my listeners about because I know these guys will save you money at the dentist. One Dental is a dental savings program that allows you to go to one of over 158,000 dental practice locations nationwide and save on things like cleanings, dentures, root canals, crowns, and even orthodontics. Here's the really cool part. You can join One Dental right now and you don't have to worry about high deductibles, waiting periods, or pre-existing conditions. Just find your highly qualified dentist in the network, make the

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No trouble. What's up? I am a 49-year-old stay-at-home mom. I have three kids at home. My husband passed away about a year and a half ago. Oh, my goodness. What happened? Wow. Okay. Yeah. leaving the area, moving to a different area. But meanwhile, I'm having a hard time staying in this home with the memories and all. And I'd like to move us to a different house for the next five years.

But I'm just wondering if that's a financially responsible thing to do. What is your home worth? About $500. Okay. And how are you, you're a stay-at-home mom, so that must mean there was a large life insurance policy or what? Yes, very large. I have no debt, no mortgage.

I have cars that are paid off. I have about $900,000 in investments and about $50,000 in the bank. That is so wonderful. That is so wonderful that is so wonderful i'm so glad to hear that part of the story the other parts obviously appear the most in my situation well actually you know it i appreciate your statement you're blessed is what you are i don't think luck anything to do with it you guys were very intentional and obviously he did a great job of making sure his family was taken care of. That's right. I don't have to work.

And we get survivor benefits from Social Security. So I just use that every month to keep us going. Sure. I don't touch any of the other money. Okay. So if you sold the home, it would bring $500,000 cash in your hand, right? Right. Can you buy another home that is what you're thinking about for 500 000 yes it's a

lateral move okay but i know there's expenses involved yeah you'll lose a little bit here or there but um you might move up or down or you might lose use a tiny bit of your investments to make up the difference or something so you know if you come out of pocket 50 grand or something and make this move you're still going to get the money back because Denver is a wonderful real estate market, as you know. And it's going to go, you know, five years from now when you get ready to resell it, you're going to make money on it. Agreed? I believe so.

Yeah. Hopefully. I think you will. I really do. I mean, Denver's done very, very well. Unless the market just, economics just crash or something. But, I mean, it's done very very well unless the market just economics just crash or something but i mean it would be very unusual um i i personally would be very comfortable investing if i were you in a different home about the same price range and as you said to kind of put some of those um

the unpleasant memories behind you and um be in a different situation because it's got to be weird to walk in there every day, right? It is. You can't look anywhere without feeling that, and it's just really, really hard to live that way. Sure, sure. Well, it's extending the grief. It's making the grief worse is what amounts to is what you're saying, for you and probably

the kids as well. So, yeah, I'm moving. I'm with you. Let's put it up for sale move okay um so you don't think it'll affect our overall picture like do we look okay financially your overall picture is very strong okay i'm very proud of what he did and and what you guys did to prepare for this unusual, unusually early passing and so forth. Yeah, I definitely would make the move. How long ago did you say he passed?

A year and a half. He was 48. Yeah, okay. All right. Yeah. Yeah. The reason I ask is I try not to make major decisions in the early days after someone passes because that's when we're the most torn up.

You know what I'm saying? Yeah. It's still hard to breathe, but you can breathe better than you could a year and a half ago. A little bit, yeah. Yeah. And so that way I know your head's pretty clear on this decision. But, yeah, I'm doing it if I'm you. I'm with you.

Get in touch with one of our endorsed local providers at DaveRamsey.com. Click them for real estate. They'll list it and get the most they can possibly get out of it for you. Tell them your whole story, and they'll help you find something, and you can make this move very, very easy with a good professional in your corner. And just check ELP at DaveRamsey.com for real estate, and they'll help you walk right through it i'm so sorry you guys are facing this

but i also want to tip my hat to him and to you for the great job that you all did in preparing in that he had you know the right amount of life insurance to where this family is taken care of this story changes completely people if he had no life insurance. It would be a real mess. I mean, it's hard the way it is. It's very hard the way it is. But wow, that would be a real mess. Cynthia is in Fresno.

Hi, Cynthia, how are you? Hi, fine. Thank you very much for taking my call, Dave. I appreciate it. Sure, what's up? I you very much for taking my call, Dave. I appreciate it. Sure, what's up? I was hoping you could ease my mind. I have got a lot of fear going on right now. Okay. My situation, I spoke with you before when I first inherited.

I inherited a good sum of money from my father, and I had physical challenges when he passed away and was waiting for my disability. So I went from the bottom of having just about nothing to inheriting over a million dollars. Wow. And so I took that. You told me at the time I was blessed, and you were so right. I took the $1.1 million that you suggested I do, and I took it to a financial advisor, and I took it to a financial advisor and I vested it. But the thing I didn't do, and I think I had done this before I spoke with you, is I went to him and I did not get to go through your SmartVestor pros, which was the number one mistake I should have done. And I'd like to do that at this point.

My fear is just moving the money. It was the scariest thing I ever did in my life when I pulled out that kind of money in a cashier's check, $1.1 million, and drove it over to my investor and gave it to him. It was just like the scariest thing I'd ever done other than hand my child to someone before she could talk. The baby shit, you know, at a daycare or something. It was just like so petrifying to me. I'm scared of, you you know people embezzling

stealing things like that and it's because it's all the money i have in the world if i lost it i'd be you know out so what and you know what your financial advisor told you know your financial advisor what he had told me at the time uh you know, that the account for FDIC insured, just like the bank, and you can check it all you want online, things like that. What did you invest in? That's the thing. This is part of the reason I want to leave him. I've heard you discuss these people and talk to them like flicksters,

is what you usually call them. He's not really good about teaching me what he's doing. I just know he's putting a certain amount in and I'm getting a certain amount out. That's why you're afraid. But I'm not being caught like I should be. Well, that's why you're afraid, because you don't know what the flip's going on. Right, and to pull the money out and give it to somebody new is scaring me, too. Well, it wouldn't scare you if you were making the decision on what the money was going in, because you understood what the money was going in.

That causes your fear to drop. You need to not put money in something you don't understand or know what's going on with. That's how people lose money. Right. But this blind, you know, you would not. Encouraging you to spend. You wouldn't pull up alongside somebody, some teenager at the high school that you'd never met in your life and let them babysit for your kid. You would check them out. You'd want to know what was going on you'd want to understand you'd want

to give them instructions on how to operate your kid and that's why i want to leave them now right there so leave yeah yeah go go sit down with a smart investor pro and get somebody that has the heart of a teacher but but don't put money in something because the smart investor process do it you're still gonna be afraid don't do that don't put money in something because the SmartVestor Pro says do it. You're still going to be afraid. Don't do that. Don't put money in something you don't understand and don't know what it is. It's not the person you're trusting. You're the person that I want you to trust.

I want you to trust you. And if you don't understand it, then just leave the money in a stupid CD until you understand it. Take six months and study and learn and grow and meet with a SmartVestor Pro once a month and take a class from them or whatever until you understand how a mutual fund works, how to look at the track record on a mutual fund. Don't put money in a mutual fund. Don't put money in stuff that you don't understand. That's how people lose their money.

And if somebody's, you know, not willing to teach you or not able to teach you, you have the wrong person to help you with your investing. Because their job is not to do it for you. Their job is to show you what to do, and you make the choice. That way there's no fear. You're freaked out, and you should be freaked out. Because you don't know what's going on that's the thing this is the dave ramsey show Are high health care costs getting you down?

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And our members have shared over $2.5 billion in medical bills. To learn more, visit chministries.org. That's chministries.org. Christian Healthcare Ministries is a proud sponsor of Dave Ramsey Live Events. chministries.org According to the IRS, 90% of Americans have tax situations that are complex enough to need a tax professional. Here's a few things people don't realize will add hours to your filing. If you bought or sold a home, if you've got student loan debt that you're paying on, if you got married or had a baby or had other major life changes,

whether it's starting a business, working a side job like Uber, or anything else you've done to make some extra money, taxes can be more complicated. Unless you've got a degree, and even if you do, unless it's your job to stay up with the tax codes, you could probably mess up filing on your own. I don't file my own, and people who file with a pro not only save hours, they get back an average of $800 more than people that use tax software. Now, I don't know where you are, but $800 where I come from is a lot of money. What could you do with that?

Pay off a credit card finish kicking sally may out of the house i don't know finish up your emergency fund check davramsey.com elp for taxes elp for taxes and we have cpas and enrolled agents that we have vetted that do a great job and will help you get ready for your taxes this year and save you some serious money. Kurt's with us in Louisiana. Hi, Kurt. How are you? I am always good, Dave. Thanks for taking my call.

Sure. How can I help? So me and my wife, I'm 31. She's 29, about to be 30. We're going through the debt process right now. We're on step two. We're actually going to be starting FPU tomorrow evening. So we're excited about that.

Yes, I know. So we're very much looking forward to that. We're actually looking about 18 to 24 months being debt free except for the house. So we're on a good track there. My question for you is we have three kids that we actually homeschool, eight, six, and four, two girls, one boy. And my question for you is, you know, during this process with them, what is your advice or what can you recommend for us, you know, if we're going through showing them, you know, wise money choices to where they don't get where we are.

You know, we have some of the Dave Ramsey stuff for kids, you know, like the books with Junior and the Adventures of Dollar Bill, that they love those books. You know, we've sat down with them when we're laying out the debt. And, you know, they see, you know, there's no not hitting what we make, how much debt we have. You know, the kids are all in on it to where they can actually see. So what's your recommendations on something that we can use for them? Okay.

Well, number one, I don't want a 4-year-old to be scared about your situation. So whatever situation you cover um you don't want them to feel like or even any of the ages we don't want any of them to feel like that that like we're going to be homeless or you know something like that so this is just a mess that we have made and we're cleaning up our mess like when you make a mess in your room i make you clean up your room it's that kind of thing that's actually exactly how we explain it to them, that, you know, this is just something that, you know, we had way too much fun way too early, and now we have to, you know, kind of make up for that.

Yeah. And, you know, we've actually got them, you know, doing lemonade stand. They actually pull the tithe together on their own, so, you know, it's just promising to see that. Yeah. Now, then the next thing is, is that since Mom and Dad are learning these lessons, we also want to make sure that we teach you guys about this. And there's really four things that you teach a kid about money.

One is how to work because that's where money comes from and age appropriately. We're not sending the four-year-old into the salt mines. Right. But they do some work. And then once they earn some money money we didn't put hours on allowance on allowance we put them on commission right allowance feels like welfare i don't want to do welfare okay i want them on commission work get paid don't work don't get paid yep exactly and so and then once they earn some money from having done a chore then we put that money in their hands

then we have three things we want to teach them to do with that money one is we want them to save some of it two is we want them to spend some of it wisely and three we want them to give some of it now we're christians and so that meant at our place that you were taking some of the money that you earned, in quotes, to the church. As we go, you know, you go to children's church on Sunday morning or whatever, that kind of a thing. And you always have to be doing all four. First thing I'm going to do, like any other behavior with a kid, I'm going to encourage you and show you why. Ultimately, though, you're going to do it. Right. You're going to brush you and show you why ultimately though you're going to do it

right you're going to brush your teeth so you have some you're going to do your homework so you graduate from school first thing i'm going to encourage you and show you why to do those things but at the end of the day if you just refuse because you don't get the why i'm your my job as your dad is just make you do it because it's a life skill, brushing your teeth, studying to get your grades, and handling money or life skills or learning to work or life skills. It's my job as the dad to make sure you have those things. Your job as mom to make sure they have those things as they leave. It's called parenting and so um you know the way we've taken

the stuff out of the junior books is we have financial peace junior do you guys have that yet no all right i'll send you one of those it's got a dry erase board for the refrigerator where you write their chores on it and their name and then as they do the chores you check them off and that says they get paid if they don't do the chore, they don't get paid. But ultimately, they're going to do the chore. I'm going to try to make it fun and encouraging and rewarding, but, I mean, not feeding the dog if the dog being fed is the chore and I have to feed the dog, ultimately, and one or two times we'll talk about it,

not pay you and let you learn the lesson. But at the end of the day, you're going to do this because it's my job to give you this life skill. And it's age appropriate. The older they are, the more intense and detailed you can get. The four-year-old is just all fun and bananas. It's fun. You know, no big deal there. But by the time they're 14, they need to have a clue.

And so Financial Peace Junior is a box of teaching age. It has the envelope system in it with the three things, give, save, spend. It has the dry erase board for the refrigerator, a bunch of other goodies in there, show to give mom and dad tools, stickers, all kinds of stuff, to give mom and dad tools to teach their kids how to handle money, ages, whatever, birth to whenever they want to start, up to about 12. And after 12, it's a different kind of a game playing because you're starting to deal with

teenagers at that point. But hold on. I'll have Kelly send you one of those out as our gift and help you guys continue this part of changing your family tree. Bobby's with us in Abilene, Texas. Hi, Bobby. How are you? I'm doing fantastic. Thank you for taking my call, Texas. Hi, Bobby. How are you? I'm doing fantastic.

Thank you for taking my call, Dave. Sure, man. What's up? So I am a student, and I am studying accounting and finance. And we had a – my parents are big fans of your show, by the way. And so they brought me up, and my first car I paid in cash, and they taught me the importance of never going into debt. And thank goodness for that. You know, they're fantastic. And in one of my classes,

we had a banker come in and started talking about the importance of building credit. And I realized I, since I paid for, you know, my, my truck and cash and, you know, I've never taken on any debt. I'm not really building any credit, and I use a debit card. Do you think that I should be building credit at all? Well, what would be the purpose of building credit? What would you need credit for? So since I am accounting and finance, I do want to go into business for myself. And so I may want to pull a bank loan to start the business. My dad's a dentist, and he pulled a loan to start his, so I'm kind of learning from him on just how going into business for yourself works.

Okay. It doesn't mean that you have to pull a loan. I started this business with no loan, and I didn't have any money either. It was on a card table in my living room. It's called organic cash flow, meaning you're going to make some money, and some of the money you make you put back in the business, and some of it you eat. And then you make some more money, and you put some more money back

in the business, and some of it you eat. And I started that 25 years ago. Now we've got 700 team members and a major national brand and I never borrowed a dime. And so, no, I don't think you should bill credit because I don't think you should go in debt. Ever. I think you've been very wise to this point.

And I think the dark side is luring you. Stay away from the dark side. They're called bankers. This is the Dave Ramsey Show. Andrew is in Los Angeles. Hey, Andrew, welcome to The Dave Ramsey Show. Hey, Dave, how are you doing? Better than I deserve. What's up? My wife and I just finished baby step 3B and ready for step 4.

And our federal and state tax bill just came in about $3,000. So our CPA is recommending a $5,000 step contribution to reduce our tax bill. So if we were to do this and roll it into an IRA in the future, we'd be basically paying this similar taxes. It's fine. So you have the ability to do a SEP, obviously. Yes. Okay.

And you've got the $5,000 over and above your emergency fund? Yes, we do. Okay. There's nothing wrong with that. I'm always going to move towards a Roth more than I am a traditional investment, a pre-tax investment, because the Roth is going to grow tax-free. And, of course, if your business grows and you're hiring people, soon you won't be able to do a SEP. It won't make sense to do a SEP.

Right. Because any employees that have been with you more than three of the last five years have to have the same percentage put into theirs that you put in percentage of yours. But for this year, if you want to do that, that's fine. I did a SEP early in this business, and then I just rolled it to an IRA, a traditional IRA, and then I rolled all that traditional into Roth a few years ago as well

so that it was all growing from that point tax-free, and I just wrote a check separately for the tax bill, which has the same effect of having a additional investment, is really what it is. But for this year, that's fine. The reason I'm stammering and stuttering around is this.

I don't want you to long-term make your investment decisions to save on this year's tax bill. Right, and that's not our goal. But, you know, because we have this opportunity, we thought it might be. Yeah, one-time hit. Yeah, I'm fine with that but but year in and year out if your guys if his if the way he decides how you invest is he's trying to save you on this year's tax bill that's probably not going to take you where you want to go long term where you want to go is what's going to put me in the best position at net of taxes and the roth products

are going to are the roth uh qualifications are going to put you there in a lot better shape long-term. But for this one, I probably would do it. I don't dispute this one move. James is with us in New York. Hi, James. How are you? Hi, Dave. Thanks for taking my call.

Sure. What's up? I have a question. I know typically you say to save 20% for a down payment on a home, but I'm a prior service person, so I was thinking of using the VA home loan, and I've heard that it doesn't have PMI, and you can at least put down like 8%. And I was wondering what your take on that would be. Well, you can put down 5% on a Fannie Mae conventional. You can get into a mortgage without putting down a full 20%.

The beauty of putting down the 20% is to avoid the PMI. VA does have a funding fee, and basically it ends up net, net, net, being the most expensive kind of loan. Unless you're a disabled veteran. Are you disabled no i'm not disabled okay if you're not disabled then it's they weigh the funding fees and some of the other stuff but it's not it's a they're not good loans um you're better off if you're going to put down eight percent to do a traditional fanny may a conventional loan and just put eight

percent down you can get a 95 loan there and um and your other closing costs and you're going to end up less interest rate less fees all the way around than the va loan uh between va fha and conventional va is the most expensive of the three nathan is with us in salt lake city. Hi, Nathan. How are you? I'm doing great, Dave. Thanks for taking my call. Sure. What's up? Hey, so I'm on Baby Step 4, and I really enjoy your show. A little bit about my situation. I moved to Utah back in June from California, and I studied exercise and wellness in my

undergraduate education. Currently, I work in a job that I'm wellness in my undergraduate education. Currently I work in a job that I'm not in my field right now, and here in Utah it's a very competitive market for what I want to go into, health coaching. So I don't like my job right now. It's just been very difficult to find work. But on the other side, I have a personal training background and try to make sure I follow the baby steps and i'm planning to get married so my question is what should i focus on in my jobs my job search finding as a health coach or just try to start some on the side as a personal trainer what takes you where you want to be 10 years from now

well i like to be a you know work as a health coach for an insurance company that has that um benefits and secure income that you know i can be a great um employee in the marketplace and so that's what i like to be is have that secure job i can so how does being a personal trainer and building up a book of clients on the side to help you get that. Well, it's something to get supplement income. You know, I'm getting married in June, and I'm just trying to find ways to increase my income, but the job I have right now is not paying enough. And so I'm just, you know, I have an emergency fund,

but I'm just trying to find ways, what should I focus more? Supplementing your income is not a bad thing at all, but that wasn't what we started the conversation with. We started the conversation with you didn't like your job, and it was too competitive in the marketplace to land something in your degree field that you want right now, and so I'm going to go do this. So if you want to do it to supplement your income, that's fine. I'm not sure, and it is at least in the general field or the general category of your field, which is not a bad thing.

But the thing I don't want you to do is to get sidetracked somewhere along the lines and not land the actual position that you're looking for. So what's the actual position I'm looking for, and what are some steps I can take to get that position nailed down? And if that's a two-year plan to get that position nailed down, that's fine. In the meantime, you supplement your income doing some personal training, that's fine. I got no issue with that. But let's not get sidetracked and end up with this super successful, big personal training operation. And then then you look up and you go, gosh, I've been doing this 10 years, and I'm stuck. I can't do it. I can't get out.

I've got golden handcuffs now. And so you climb the ladder of success only to find it's leaning against the wrong wall. That's what I'm talking about. So let's make sure that whatever steps you're taking are always taking you where you want to end up. If this is simply some part-time income, no troubles. Love it. Go be a personal trainer. Do that.

Absolutely. No issue at all. But I would just be careful that with your career choices, you're always looking on where you're going long-term. Where am I going long-term? Where am I going long-term? Too many people accidentally fall into just a job, and they work it for years,

and they look up and realize they're miserable, and you don't want to go that. Your job needs to be like your money. Your career needs to be like your money. Your career needs to be like your money. It needs to be an intentional, a series of intentional acts. I'm going to take this action and this action and this action and this action. And that's the direction to go. Deb is on Facebook.

Do I need mortgage protection insurance if I already have life insurance? No, mortgage protection insurance is mortgage life. Mortgage life insurance is a ripoff. It's 20 times more expensive than term. So you never buy mortgage life insurance unless you're uninsurable. If you're uninsurable, it's a way to get your mortgage at least paid off if you die. So if you've got health problems, have had health problems, and you can't get life insurance, most mortgage life is what's called guaranteed issue, which means they're

going to issue it regardless of your medical, but they charge you 20 times more than traditional term. So you've got a $200,000 mortgage, you're basically buying $200,000 worth of term insurance, and you're paying about 20 times more than you would pay for traditional term insurance of $200,000. But, again, it's a guaranteed issue, so they're going to write it for sick people. They're going to write it for everybody or people that have had illness in the past, that kind of thing. But otherwise, it's just a gimmick. There's no other use for it. Always just buy term insurance.

Go to zanderinsurance.com and talk to Jeff Zander's team over there. They'll help you. Absolutely incredible. They'll shop among a bunch of different companies, get you the best price. You need about 10 to 12 times your income on you on 15 to 20-year level term insurance, and that'll set you up. Hey, good question. Thank you for joining us.

This is the Dave Ramsey Show. Hey, it's Kelly, associate producer and phone screener for The Dave Ramsey Show. If you would like to do your debt-free scream live on the show, make sure you visit DaveRamsey.com slash show and register. We would love for you to come to Nashville and tell Dave your story.