The Ramsey Show - App - Leave the Cave, Kill Something, and Drag It Home! (Hour 3)

Episode Date: March 20, 2023

Dave Ramsey & Jade Warshaw answer your questions and discuss: What to do with a whole life policy, from the blog: What Is Whole Life Insurance? "Should I keep paying off debt after being laid off?" "How do I best invest an inheritance?" "My husband wants to wait for student loan forgiveness" from the blog: Student Loan Forgiveness Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Want a plan for your money? Take our FREE 3 minute assessment: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Live from the headquarters of Ramsey Solutions, broadcasting from the pods of Moving and Storage Studios, it's the Ramsey Show, where we help people build wealth, do work that they love, and create actual amazing relationships. Frank is in Detroit. Hey, Frank, welcome to the Ramsey Show. Hey, Dave. It's great to be on here.

Thanks for taking my call. I found you probably only about six months ago. I don't know how, and I'm so glad I did. Well, we're honored to have you, sir. Listen to you every day when I'm running and walking and working out, and then I preach at the dinner table to the kids all day. But my question is, we started getting this, you know, we get this bill every year, and my wife opened it and said, here it is, it's that insurance thing.

I go, oh, that's that thing Dave talks about. It's the whole life insurance. I said, we don't want that. So I looked into it, gave them a call. They told me it's currently worth $28,000 in cash and my death benefit is $75,000. If I learned from you enough, I could take that $28,000, put it in some good growth mutual funds. Every seven years of a double of 10 years, I'll already have the benefit of the $75,000. Am I thinking right? Well, you also need to make sure you're replacing it with term life,

and you need to make sure you've got the term life policy in place before you cash out the whole life. Do you have other life insurance in place already? Well, that was the other thing I thought from watching and learning. I actually retired, and I'm at the point now where I think I'm self-insured. If I pass away, my pension actually goes up for my wife because I took a reduced benefit when I can put her on there. And then our LLC brings in a yearly income also,

about $60,000 a year. That would remain the same. So I'm thinking at this point, if something happens to me, you know, she's fine. No bills, no debt. Is the pension the only know no debt is the pension the only retirement account you have or is there do you have some IRAs or anything like that anywhere laying around yeah yeah I have I have my pension which luckily I was a government employee

and I don't apologize for it but they promised this years ago but I put 33 years in at work and I get lifetime health care included in that for me and my wife good so the bottom line is she's okay with no life insurance okay correct then yes just cancel cancel this and invest it you're exactly right i love that for you okay way to go man what was that very well done and we appreciate having you as a new listener and uh the good news is you're actually learned to do something you got 28 000 bucks here because here. I love that. Here's the thing. If he dies, they don't pay $75,000 plus $28,000. Right.

They keep the $28,000. Isn't that interesting? That's what I would call thievery. That's what I would call a bad investment. That when you die, they keep your money. Yeah. Yeah. That's a bad investment.

Cash value life insurance sucks. Now, the question I asked, I wanted to ask him about his pension because my initial thought was if all he has is the pension, it might be worth it to keep a term life policy because we don't know like a pension can die with you or a pension if the company goes under, there's some risk there. It's always a good idea to have an SDAG. But yeah, I would do that and then watch this 28 grow and then at some point in the future you might pick up a couple hundred thousand it sounds like he's a runner he's probably in good shape yeah and uh so you know

you probably pick it up for very little and just a couple hundred thousand cost of a pizza probably check sander insurance to see what that costs frank and uh it might be worth it for the peace of mind i kept a couple million extra around um that i didn't need it was just swi sharon wants it that's all it was it had nothing to do with financial planning it was uh it was a marriage planning i feel the same way wants it swi there we go i feel the same way well if you make enough money i can i can put some stuff in the column yeah that doesn't make sense except that swi yeah right so that's okay you just got to do that and we finally dropped that policy uh i guess it was last year but that thing's been around forever but the price for you to have that policy you could light that amount of money on

fire and you it wasn't it wasn't that expensive and she said you know her comment was i'd rather you buy me that than some more shiny sparkly rock things well you know you got to say it with her accent and uh david yeah my name becomes a seven syllable word when it's i'm in trouble there you go all right pete is with us pete's in san antonio hi Pete. Welcome to the Ramsey Show. Hi, Dave. Good afternoon. Thank you so much for taking my call. I really appreciate it.

Sure. How can we help? So I'm calling because I actually had a change in my financials here. I was recently laid off from my employer at the beginning of this year in January. And because of my tenure there, I'm going to continue to receive a severance pay that's going to continue to pay me at the same rate. How's your new job? So I haven't found a new employer yet.

Why? It's March. It's been three months. Almost four. So my wife actually works also, and we have been discussing, and I decided to return back to school full-time. So I am currently enrolled in school. For what?

To finish my degree. My degree. In what? It's computer information systems. And why do you need that? Well, so, and that's kind of a part of my question. So my history and background of employment has really been in finance. And I'm trying to kind of pair that with the new kind of computer side of that to, you know, hopefully give me an even better paying job than what I've had.

And you need a four-year degree in information systems to do that? There's not some courses that you like, a certificate or something less expensive? So there are a couple of things as far as certain languages and programming and whatnot. From the kind of the opportunities I was looking for and other employers to apply for, they typically do ask for that four-year degree and some of the opportunities around here. Where did you hear that? Three years ago? Because you know that's changed dramatically in the opportunities around here. Where did you hear that? Three years ago? Because you know that's changed dramatically in the last 36 months.

Yes, just looking at the job sites for certain employers around my area that I was interested in applying for, I just found that they typically ask for that four-year degree. Okay, what did you used to make? So I used to make annually, this past, I made $97,000 a year. My wife's also employed full-time. And what does she, yeah, you said that. What does she make?

She made a little over $92,000 last year. So combined for gross, we were about $188,000. Net, we were $140,000. How old are you? I am 37. Okay. And your question is what, sir? So kind of tied to what we spoke about.

So in this time, I'm currently enrolled in school full-time. And I was just wondering, for first, with the income we have right now saved and our savings and my continuing severance, if we should apply that towards paying off an auto loan and a credit card? You make $100,000 a year in your household right now. Well, you're paying cash for this education, right? Yes, ma'am. Okay. And how long does the severance continue?

Until the end of September. You don't even need your severance to live, though. Surely to God you can live on $100,000 in San Antonio. Yes, sir. I just have my mortgage, an auto loan, and... You won't have the auto loan anymore we just paid it off okay yes sir and that's kind of my second part as far as the double check is if you feel like i would be able to continue to just go to school full time and i wouldn't i wouldn't do what you're doing i would go get a job making 100 and let them pay for your education and finish your education in the evenings and get your four-year degree.

I mean, you're already making $100,000, dude. And I don't mind your career aspirations, but I think this idea that I got fired so I'm going to quit and go to school, you're hiding. I think you need to get back to work. This is The Ramsey Show. Jade Warshaw, Ramsey personality, is my co-host today. Thank you for joining us, America.

It's a free call here at 888-825-5225. If you're wondering whether to buy or sell a home this year, here's what you need to know about the housing market. There's still more buyers than sellers, more demand than there are homes. The median price is expected to keep rising just at a slower rate. We're anticipating a 7% increase in house prices this year. Interest rates haven't stopped going up except for when they went down for a week there. I don't know if you jumped in and took advantage of the downturn in the market or not, but that was an opportunity for you to lock in your mortgage.

If you haven't, you might want to check with Churchill Mortgage and see if you can still get in on one of those lower rates that slipped up after the little bank collapse over there in California. So if you hadn't heard, there was a little bank thing that happened over there in California. And that's why you need to work with an experienced real estate agent. When you get ready to start buying or selling a home in a market that is returned to normal it now takes about 90 to 120 days to sell a house and very few people get 100 of asking price that is a normal real estate market it has been that way most of my life and i'm old so that's how that works. It was one little blip back in 2020 there when we lost our minds. And I mean, I'll tell you how crazy that was.

Used cars went up in value. The Mississippi ran backward for two days. I mean, it's like unbelievable, okay? So now it's back to normal, and you can find agents that will walk you through this process that are Ramsey-trusted. These are endorsed local providers. They're high-octane, high-protein real estate agents. They get her done just like that.

Get her done. That's simple. So check it out, RamseySolutions.com slash agent, and get a Ramsey-trusted agent and get moving. Time to do a real estate deal. Emily's with us in San diego hi emily welcome to the ramsey show hi dave thanks for taking my phone call sure what's up so um i am going to in the next couple months inherit a little bit of money from my father and it's not a huge amount it's probably between maybe 50 to,000 to $70,000.

And financially, me and my husband are doing good. We do have younger kids. So I'm wondering what would be the best decision for us to invest that money to possibly let it grow and have more wealth for our children. Do you already have money set aside for their education? We do not. My husband is a disabled veteran, so they will get some of their college paid for. When you say some. Some. Most of it.

Most of it. You know, if it were me, I'd probably put it in like a brokerage account where you can earmark it for them. Just some mutual funds, and you just say it's our money, and if we want to give it to the kids later, we can. I would not move it to their names. It doesn't serve any purpose. Y'all got any debt left? We have done pretty well with our debt i have one credit card and then we have um just like we remodeled our kitchen that has not too high of a balance um not too bad with interest and those

are really the only like how much debts that we have uh the kitchen is about eight thousand and i have about eight thousand on my credit card i'm changing my answer here let's let's go back and retake this test. I think you need to pay off your debt, and I think you need to stop going into debt, and then whatever you have left after this, do you have three to six months saved? As an emergency fund?

We do. We have about $40,000 in savings. That's good. Okay. So let's go back and clean up this debt and swear that we're not going into debt anymore. And then whatever you have left, you can throw into that brokerage account. Fair enough? Yeah, just, it's, how much do you owe on your home?

Our home we purchased about three years ago, we owe about $600,000 on it, but we have like a 2.75 interest rate right now. Okay, and your household income is what? Net, it's about $130,000. Okay. Emily, I get the impression that you've listened to us for a fairly short period of time. Is that fair? Yes, it's just been about the last couple months, and I kind of figured that I would be getting an inheritance, and I've never invested before.

Okay. Here's what we teach. We have learned, and we teach it because for 30 years we've taught it, and we've led more people to become what we call baby steps millionaires than anybody else out there. And we've led 10 million people out of debt and into wealth is what it amounts to over many, many years of doing this. So what we're looking for and really what you're looking for at your core is what is the fastest

right way to build wealth? Okay. By right way, I mean not taking weird risks. we're not talking about playing the roulette wheel in vegas or cryptocurrency or some kind of weird crap right but just what's the fastest way to build wealth okay that is that is not that that's safe that's good the first thing we've discovered as we've studied 10 000 millionaires and the largest study of millionaires ever done is they get out of debt and they stay out of debt like it's a disease okay and um i i've got to move you onto that planet because you're still using words about your debt like oh it's no big deal it's only eight thousand dollars like a little bit left over from this and it's oh we've got a mortgage but it's only two percent like you want to keep it like it's a pet okay and so i got to move you off of that planet in order to get you to move towards

the wealth the fastest way i can get you there you can do whatever you want to do you're a grown-up okay but the fastest way for your children to end up wealthy is for you to first become wealthy. And so then you don't have to worry about whether this $50,000 turned into wealth or not if you follow that. So we're going to get you completely debt-free because your most powerful wealth-building tool is your income. And right now in your mindset, it all comes in, and it's okay for a bunch of it to go over to the bank instead of into an investment. And we've got to stop that, regardless of the interest rate. It's a cash flow problem.

And so we're going to clean up those two debts. We're going to make sure you keep that $40,000 in place. And that's our first three baby steps. The fourth baby step is to be putting 15% of your income out of your monthly budget into retirement. 401Ks, Roth IRAs, with matching, not with matching, whatever, in good growth stock mutual funds. Baby step five is kids' college is addressed. Six is pay off the house early. Now, you've saved nothing for kids' college because you have a wonderful benefit from your husband's service.

Tell him thank you for his service from us, please. Thank you. So basically with the $40,000 and you take the $50,000 and you pay off the $16,000, that leaves us $34,000. I'm probably going to sit down with a broker. If you don't have one, click SmartVestor Pro at RamseySolutions.com. And I'm probably going to open up a couple of 529s and dump about 10 grand into each little kid's name, into the two 529s. It's not a lot. If you never do anything else, that's probably okay, because

you've got most of their stuff covered. The veterans benefits on this, or the disabled benefits are incredible for your kids and they should be and i'm glad as a taxpayer i get the opportunity to be a blessing to your family but for your service and so one of the few things i'm happy about with my taxes but the um so so you got that but i want a little bit more in there like jay said and then everything after that in your budget that you have extra money left over and you'll have more money because you don't have any payments now except your house payment i want you to start concentrating on getting rid of this house debt and so if we did throw 16 at the debt

that leaves 34 and we put 20 into the kids i'm going to use 14 for some fun things like a trip or something uh or just upgrading a car or an item in the house that's a good idea or i'm going to pay down on the mortgage baby steps six so emily i'm going to send you a copy of the book baby steps millionaires which will walk you through how to become a millionaire following this stuff without a bunch of risk and without a bunch of craziness because you really make you've done a good job with your money i just am fine tuning it to turn it up to great because there's a lot of different things going on inhost today thank you for joining us america in the lobby of ramsey solutions on the debt-free stage david and kelly are with us hey guys how are you

hey how are you howdy better than i than I deserve. Welcome. Where do you live? Richlands, Virginia. Ah, just up the road. Well, welcome to Nashville. Good to have you guys. How much debt have you paid off? We've paid off $335,000. Good for you. And how long did this take?

26 months. Good. And your range of income during that two years? $275,000 up to $350,000. Wow. What do you guys do for a living? I'm a pharmacist. And ator and an electrician and a carpenter okay renaissance man and i'm a pharmacist and a pharmacist two two pharmacy degrees and uh that must have been some of the 335 it was uh 180 was student loans. Together. Six-figure freedom.

And then cars, truck, my SUV, and credit cards. All right. So you were normal. How long have you all been married? 18 years. So what happened in that 15th or 16th year that was the wake-up and got you on this Ramsey way? So somebody years and years ago had mentioned Dave Ramsey to us, but we started listening

to, I started listening to the YouTube channel and that's literally, I was doing construction jobs and started listening to YouTube, the Ramsey show. And that was literally what turned it on for us. It took a little bit to get me on here. Drugger along. Yeah. He felt the need first and kept saying, well, this, this, this, this. And I was like, oh, no, no, I want a new car.

And we got a new car. And then he kept saying, we need to sell the car. And I'm going, no, we're not selling the car. And we kept listening to the podcast. You had a smart car? I did. Yeah, but that was a little bitty car. Oh, my goodness.

That is a little bitty. That's a pregnant roller. Yeah, it is. And so I didn't want to sell the car i kept pushing us and then i we would be listening to the podcast and i'd be he'd be out in the garage i'd run out there and i said dave said if we could pay off the car in 18 months we could keep the car i'm keeping the car we're paying it off oh so that was the motivation so this is the red suv is the one she's talking about it's not a picture okay because i like, all of this over a smart car? I don't understand.

No, it's a nice ride in the parking lot. I have a Lincoln Navigator. So for you, then, Kelly, it was the give and take. If we go fast and we get intense, then that means we get to keep the track. Got it, got it, got it. Well, that works. So the whole thing from the podcast it literally was from the youtube from the youtube and now we've we've used the ramsay show on the app and we also

bought some books but we've given them all away and we'll buy some more books and we give them all away so but also it was at our church too we had already got started into the journey and then they did a financial peace class at church and we went to that also okay so you did get in and drink the too late okay i had already drunk it at that point and god helped get her on board okay cool cool cool we literally worked 18 12 to 18 hours a day every day but church nights y'all been working maniac yes sir we were faithful to our job faithful to our church and then any other holidays, nights, weekend holidays. One time I remember we had worked through the night on a Saturday or through the day on a Saturday, and it was late, late Saturday night. I didn't realize how late it actually was, Dave. And I was carrying some tools out to the truck.

Like I said, I do construction. I was carrying some tools out, and I heard birds chirping over in the trees. And I thought, well, that's really weird. Why are birds chirping over in the trees and I thought well that's really weird why are birds chirping in the middle of the night right that didn't make any sense to me and then I noticed some light coming from this direction didn't realize that was the east and there was a Saturday night right you had worked all the way through I had worked all night wow I had worked all night long wow I crashed out about three and he come and woke me up at five and said the birds were chirping it's time to go so we went home slept from about seven to nine went on to church at 10 and and that finished up our day needless to say we were tired on sunday you were toast then yeah so do people

think you were crazy i mean you guys were just you're going hard yeah did people what were people saying what was your family saying what were your friends saying they said we were crazy but we really didn't take their opinion there you go they weren't the ones that felt the weight of the debt and we did we felt the weight of the debt we felt like we needed to get out from 100 what do you tell people the key to getting out of debt is now that you did it we talked about this before what would we say if you asked us i think that staying faithful to church and to the god and let him take care of the rest. And faithful to go to work. Because good place to go when you're broke.

I know, that's right. Yeah, I mean, he's faithful to feed the sparrow, but he doesn't throw the worms into the nest. No. So you went out there and killed and drug it home. I mean, he gave you the work to do. He gave you the energy to do it. We talked about work to do. He gave you the energy to do it. We talked about that as well. And gave you the energy to do it.

Every single time. He gave us the jobs, the right number of tools, the right place to do it, close enough to home. I work at a little hospital about 20 minutes from the house. And literally every job that I got was on the way home. I didn't have to drive an hour and a half or two hours to get to work because i would have wasted all a whole evening right if i had to drive an hour to get somewhere but we'd stay working till 11 12 o'clock at night and then roll in get some about five six hours of sleep and head back out to work the next morning amazing where the energy went

after we're done paying off the debt i'm like i just don't have that energy well i bet it feels good to sleep now you got your norm now you can have a normal schedule you don't have to be working through the night you paid a price to win and so you'll never forget it no you'll never forget it and you'll never go back not going back no no and you changed your family tree i mean it's powerful was it worth it it was absolutely yeah it was way to go, heroes. Well done. I'm proud of you. Thank you. Very, very good stuff. That's powerful stuff.

Sure is. And, you know, it's when you can work together the way you guys have knit, the way you've been unified in this approach. It didn't start that way. But, I mean, the more you got into it, the more it became unified, the more you start to realize we can slay any dragon if we do it together. That's true. And so the next thing that come along will be a money thing. It'll be something else. No, because we beat that one.

You'll be ready because you know if you do it together that you can do anything. And when we would go to all those second jobs and whatever, we would bring Addison and it's just still family time. We're just working on a job. Somewhere else instead of at our house we were at somebody else's house working well absolutely yeah i mean that's that's there's and again it's not for life it was for 26 months yes you know and out out of 18 years of marriage and now you're free for the rest of your life with a fabulous a couple of incomes a couple of pharmacy incomes you can do you're gonna make a lot of money, and you're going to be wealthy.

Unbelievably. And in a position to be unbelievably generous. That's where the key is. Yeah, you're going to be able to do everything you want to do. So well done, you guys. Very well done. Okay, who were your biggest cheerleaders? Probably each other.

It was us two. And that little girl sitting over there. I love it. All right. I love it. Well, let's bring Addison up. How old is Addison? She's eight.

Eight. Okay. Has she been practicing her debt-free screen? Oh, yes. Y'all got matching better than I deserve T-shirts. For those of you listening only, you ought to see this line up here. It's pretty sweet. Very well done.

Hey, we've got the live and give box or bundle for you that includes the Baby Steps Millionaire's book, number one bestseller, Total Money Makeover, number one bestseller, Financial Peace University. the live and give box or bundle for you that includes the baby steps millionaires book number one bestseller total money makeover number one bestseller financial peace university you've had them and been through all of that you'll probably give them away seem like it's what you've been doing but uh that's what they're for they're for you to enjoy and to give away thank you guys for making a trip down what an inspiring people you are thank you thank you very cool stuff it's a it's the way it's supposed to be right absolutely you guys did it right david and kelly and addison from virginia richmond to be it was was it richmond richland

richland yeah there we go there we go open the bristol oh okay just an hour past yeah good good all right try it again david and kelly and addison from Bristol, Virginia. We'll just call it that. $335,000 paid off in 26 months, making $275,000 to $350,000. They worked their tail ends off. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! Yeah!

Woo-hoo-hoo-hoo! Come on, Dave. come on dave in a world where you can be david and kelly or you can be a bare minimum monday uh yeah and everybody knows that your life is going to be wonderful and fulfilled by making mediocrity your goal i mean on. As opposed to making victory your goal. Victory. This is it. These guys are fighters, man. They got after it. A lot of work in this story. Very good. A lot of work. This is the Ramsey Show. Our scripture of the day, Proverbs 21.5, the plans of the diligent lead surely to advantage but everyone who is hasty comes surely to poverty general george patton said take calculated risk

that is quite different from being rash amen and amen christy is with us in Sacramento. Hi, Christy. Welcome to The Ramsey Show. Hi. Thank you for taking my call. Sure. How can we help? So me and my husband are new to the show.

We just started watching it this month, and we just started Baby Step 2. But my husband wants to wait to pay off our student debt to hear what the government says. But I want to just put it all in with our debt snowball. I was wondering if you can give me some advice on how to talk to him about that. That's sweet. It is. He still believes they're going to do it. That's so sweet. It is. He still believes they're going to do it.

That's so sweet. I mean. How much student loans do you have? Together, it's $14,000. Did you sign for the loans? That's what I would say to them. I'd say, did we sign for these loans? Let's pay them off.

There's a high correlation between people's ability to build wealth and their belief that their destiny is in their hands, not the government's. Very few next to no people, next to nothing, next to zero, of the millionaires that we have interviewed over 30 years got there believing that the government was going to be a blessing to them. They didn't wait on the government to provide prosperity. Instead, they left the cave, killed something, and drug it home and made their own way. They got the machete out and went through the jungle. And so to the extent that anyone, your husband, you, me, believes that the government is our source of prosperity, it slows down our energy level to go into the marketplace and win on our own, of our own dignity and our own energy.

And that's the real tragedy of the Biden administration dangling this carrot carrot because most of us know that they're not ever really going to do it um it's it's not going to happen it's been a political ploy from the start um i don't believe it's going to happen it may happen but i'll i'll have to be on here going i was wrong uh and that's happened before i've been wrong before, Christy. But there is something inside of you, the type of person, and it's a decision. It's not a character flaw. It's a decision that you can make differently. The type of person that says, I'm going to make my own way in this world. The type of person that says, I signed for those loans.

I have an integrity issue with not paying back money I owe when I'm able to and I'm capable of it, those two things that are decisions in your character are leading indicators for your long-term ability to build wealth. And so I would ask anyone out there, including you guys, Christine, I appreciate the call. I'm not picking on your husband. I'm not saying he's a bad guy. I'm just saying he's naive. Number one, it's probably not going to happen, in my opinion. Number two, I would adopt the character qualities of integrity and of agency, of the agency meaning the sense of I control my own destiny.

I'm not waiting on provision from any administration. I'm old, Christy. I mean, I'm 62 years old, and I've lived through in my adult life several, several presidents of both parties who promised me prosperity. So far, none of them have provided it. Not one.

And they won't. Every single thing that has happened to Sharon and I that's positive is due to God's blessings and due to other people that have helped us and due to our hard work and ingenuity and our refusal to quit. I agree. You said a lot of people, you said you're not going to reach prosperity waiting on the government. And I think that more than that, I think there's some folks that might feel like, well, this is my way, my ticket in. I just feel like a lot of people feel like the government owes them something,

and they're sitting around waiting. And I'm not saying this is the case with Christy, I don't know. But a lot of people feel like I'm entitled to this, the government owes me something and by God, I'm going to get what they owe me. And I just, I have a hard time with that. I just, I'm over here and I get angry, Dave. I'm not going to lie. I get frustrated because I'm like, there's no such thing as a free lunch like this this quote unquote forgiveness like folks are paying for this and and folks who've already paid off their student loans are going to if it if it goes through i don't think it will but if it did folks that paid off their loans are going to pay for it folks that can't afford you know it's getting it'll be spread around the two pharmacists that just paid off $200,000 worth of their student loans are now going to have to pay off their student loans.

Yeah, and here's the thing. Most of the people that are getting this forgiveness, I mean, we know what the income bracket was. You can just afford to pay off your loans. Just pay off your loans. There's dignity in doing work and paying your own bills. I just got to say that, Dave, because it frustrates me. When you can pay your own bills, that's called a blessing. When you can go through life and you have the money

because you've gone to school or you've done whatever, and you can pay your bills, just pay them. Just pay them. You're going to feel great. You're going to feel great about yourself. Not sitting around waiting for the government. And again, Christy, I want you to hear loud and clear. We you being a new listener and we're not it's not you christy and we're not picking on your husband i'm not saying your husband's a bad guy um but you said what do

we tell him i would challenge him as an old guy to say i have walking around experience proof and i've got actual data from the largest study of millionaires ever done and none of those millionaires said someone else did this um and unless they give credit to god uh but i mean they they all here's what's interesting when we ask them uh you who you are who is responsible for your wealth? 97% of them said, we did this. And when we said, can it be done again? 97% said it could be done again. When we interview the public that are not millionaires, only 69% said it can be done.

Wow. said it can be done wow and so what what you believe about life affects your actions and your actions create your harvest your results and so if you plant poison in fertile soil you will grow nightshade poison which is a poison poisonous plant in the same abundance that you can grow wheat or corn in the same soil. So what you sow, so shall ye reap. What you pour into your life, your belief when you put the seed in the ground is your belief. Your harvest comes because you took action on your belief. And 100% of the time, we all take actions on our beliefs. And so you have to be very careful about your, okay, the action is I'm going to wait on the government.

What does that mean your belief is? It means that you don't think you can do it on your own. It means you think the government is your best provision. Yeah. And that is a scary belief because now we're talking about socialism. Well, yeah, on the political side. You know, Karl Marx never made any millionaires except him. That's what it comes down to.

Under communism, there is an elite few that are millionaires, and they're all the people that took it from everyone else. None of them were producers. Under capitalism, the producers end up with the thing. So all of this to say, Christy, again, this is just us going off now just in general, again, not on your particular answer. And again, I don't want you to take this as condemnation, like your husband's a bad guy, because we really don't think he's a bad guy.

There's a lot of good people that think this. But what I would challenge all of you that think this is be careful about what actions you endorse because that speaks very loudly what your beliefs are. It does. And it's going to tell you what your harvest is going to be. Because what you plant 100% of the time is what comes out of the ground. 100%? 100% of what you plant in your life comes up in your life.

100% of it. Good and bad and ugly. So, hey, good show today. Good show. Well done, Austin, Ben, James, Zach, Andrew, and Kelly. Kelly's in the booth today. Can't call them the booth dudes today. Booth dudes and one gal. That puts us hour 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 Look if you like what you heard in this episode And want to know more about getting started on the Ramsey Baby Steps

Go to RamseySolutions.com And click the get started button We'll help you figure out the best next step For you based on your specific situation That's RamseySolutions.com And click get started