The Ramsey Show - App - Make a Decision to Win with Money. Ready, Set, GO! (Hour 1)

Episode Date: November 6, 2018

The show about you

Live from the headquarters of Ramsey Solutions, 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'm Dave Ramsey, your host. This is your show. Thank you for joining us. Open phones at 888-825-5225. That's 888-825-5225. Suzanne starts us off this hour in Midland, Texas. Hi, Suzanne. How are you?

I'm good. How are you, Dave? Better than I deserve. What's up in your world? Well, I'm going to turn 65 in December, and I'm going to retire in January. I have been on a defined benefit plan, and I have an offer to either take a life annuity, a monthly benefit, or take a lump sum, which is better. Which should I do? Lump sum. Take the lump sum. Okay, what do Which is better? Which should I do? Lump sum. Take the lump sum.

Okay, what do I do with it once I take it? I would get with a SmartVestor Pro if you don't have a financial advisor and do a direct transfer rollover into a traditional IRA. There will be no taxes on it, and I would spread it across four types of mutual funds. I want you to learn about those and sit with that investor, that investment advisor, and get some help from them and take your time. You've got time to do this.

There's no rush. And I put mine. I'm 58. Mine are invested in four types, growth, growth and income, aggressive growth, and international. If you wanted to dial that back a little and not be quite as wild, you would take the aggressive off and replace it with a balanced. But one of our SmartVestor pros can help you do that, or another broker can if you're working with someone else. The reason for that is simple.

The defined benefit plan, by regulation, calculates your monthly payment that they're going to give you based on a 7% rate of return on that lump sum. Okay? Either a 5% or 5% to 7%, somewhere in there. And if you invest this in good mutual funds, you can make, you know, 10 to 12 percent on average. That's what the market has averaged. And so you'll make more while you're alive. And, of course, when you die with the life annuity, it dies with you. So what is the lump sum?

1.1 million. My goodness gracious. Way to go millionaire well and thank you because i paid off my house and i paid off my car and i did what you said and i'm in really good shape you're in great shape so if you die they keep your million dollars if it's in the annuity and no not if you die i guess we should say when you die right and so and if you roll it to an ira it's there for your inheritance it goes to your heirs or to whoever you decide to give it to in your will so it's a million dollar swing in this discussion at your death. Prior to your death, you know, a million won ought to create basically 100 grand a year in income, and I doubt they're offering you that.

They're probably offering you more like 70 a year. That would be my guess. So anyway, right along those lines, that's what you're looking at, and sit down with a SmartVestor Pro. If you don't have one just click smart investor at dave ramsey.com these are not people that work for me but they're people that i endorse and they advertise with us and um so they're people that will give you that sit with you with the heart of a teacher teach you you don't put money in it because i said to you put money in because you

understand it but this is what i would do i would would roll it to a traditional IRA and some good mutual funds. Better while you're alive and better when you die. It comes out better both ways. Jason's with us in San Diego. Hi, Jason. How are you? I'm doing well, dude. Need a bit of your help, though.

Okay. All right. There's two major things. I'm a new listener, so I'm kind of brand new to all this. One, I'm about 87K in student debt. That's not my major issue, though. About a year ago, I got into a car lease, and over the four-year lease term, I would have ended up paying about 29 grand. The buyout price for this vehicle is $32,000, and I can't afford it either way.

Okay. You've called them, and the current early buyout on the Fleece is $32,000, like your payoff, right? Yes. Okay. And what's the car worth? The Kelley Blue Book value, there's a range from $21,000 to $25,000. Okay. And what's the car worth? The Kelley Blue Book value, there's a range from $21 to $25. Okay.

Well, I'm guessing, is that private sale? Yes. What car is this? It's a 2018 Chevy Colorado. Oh, interesting. Okay. It's a wonderful machine. Oh, yeah, they are.

They're great. They're great. All right, so let's use It's a wonderful machine. Oh, yeah, they are. They're great. They're great. All right, so let's use 25 as our example. If a buyer comes up and offers you 25, in order to give your buyer the title, you have to have another seven. Right. You'd be seven in the hole, seven upside down. I need you to line that money up either from savings

or from going to your local credit union, your local bank, and lining up a loan for $7,000. And, you know, that's the first thing to do. You've got to get that money. You've got to cover the difference. Should you do that? The answer is probably yes. What's your household income?

Right now, I just started a new job about two weeks ago. And if it's just a flat 40 hours a week, I'm at 39. Oh, yeah. There's overtime available, so I can – there's a little bit in there. Okay. Yeah, this car's gone. Yeah, you've got to sell it. Okay.

It doesn't fit in your world. Now, how much is left on the lease? I'm about a year into a four-year lease. That's probably my first mistake. Yeah, so if you add up three years of payments remaining versus $7,000 it costs you to sell it today, it's going to be higher. And so the $7,000 gets you out cheaper than keeping it. So, yeah, this car's gone for multiple reasons. Okay. So the first step would be to list this this and try and find a private seller and

then take out the loan and then um you know just pay off the 7k exactly you got to be able to pay you got to you know you're going to get 25 from a buyer and then you got to put seven with that to send to the fleece company because they hold your title right in our example it won't work out exactly that way but i mean basically you got to send them what they're asking for to get the title, and you're going to have that lined up. So the first step is go find the loan and get it prearranged. You can either take the loan or wait until you get the buyer. I'd probably wait until I got the buyer.

But go ahead and talk to your credit union, talk to your local bank, get the loan in place, ready to go, and then put the car on the market and let's get it sold as fast as you can. Because you're right, it's killing you. I mean, with your income and that payment, ouch! Ouch! Hey, thanks for the call. Open phones at 888-825-5225.

He did catch on early as a new listener to the lingo. We don't call them car leases. We call them fleeces. And if you're not from the country or old school, you may not know what that means. But if you shear a sheep, if you take his hair off, that's the fleece. And so you've been sheared.

You've been fleeced. And it's the worst, most expensive way to operate a vehicle. Your cost of capital on the typical car lease is around 14.2%. But that wasn't disclosed to you because you're renting your freaking car. You don't even own it. This is like a bad idea, you know? This is the Dave Ramsey Show. There's nothing smart about smartphones if your wireless plan is blowing your budget each month.

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no spaces, and receive 50% off your first month. That's puretalkusa.com, promo code SAVEDAVE. Matt's with us in New York City. Hey, Matt, welcome to the Dave Ramsey Show. Dave, how you doing? Thank you for taking my call. Sure. How can I help? Well, I know you always say you deserve, and I think at this time I realize I deserve better. So I've been watching all your YouTube.

Thank God I have all submitted data on my phone. So I have a quick question. I'm on baby step number two. I'm moving through it pretty fast. I feel real confident about it. And now I'm at the point where most people are. I have student loans and I have a personal loan. The student loans are about $13,000 and the personal loan is about $10,000.

I was just curious. So that would mean that the student loan is at the top of the list. I'm actually not paying money on the student loans because they're in deferment. I'm still in school. Would it be smart to attack the personal loan since it's accruing interest that I'm making those monthly payments, and then after that goes away, start with the student loans or just keep in the order of the snowball? Doesn't matter. Either way. You're going to get out of debt at about the same time.

The personal loan was the $10,000 or the student loan? Yes, the personal loan was the $10,000, and in a year it'll turn into. It would be next anyway. It's the smallest debt. Yes, but I'm not paying any money on the student loans. I know, but you're not paying any money on it. It's $13,000. So if you're going down the debt snowball, smallest debt to largest debt,

next up is the personal loan anyway, isn't it? Okay, yes, and then just get rid of that. Yeah, and when you get rid of that, then even if you don't have payments on the student loan, go ahead and get rid of it. If you're still in school by the time you get to your student loan. Okay, yeah, my only fear was that paying the personal loan, if and when I do graduate, I'm hoping to graduate within the next few months, when those student loans do kick in, I'm nervous that it'll be too much altogether.

But I think you did answer my question as just stick with the snowball, stick with what you say, and attack that one first. Yeah, you're going to get there. How much have you paid off already? I've paid off probably about $5,000 altogether. Good for you. Thank you. What's your degree in?

It's going to be a BS in psychology. I work with adults with autism. In a couple of months. So, yeah, so I actually called the college and stopped all the other student loans that I accepted, and I'm going to be paying out of pocket for those after listening to you. Good. And what is your current income, and will your income change after graduation? So my income is a little strange, but I do make base $40,000, but there's a ton of room for overtime, so I can get up to about $60,000 or $70,000.

Okay. And that's now or after graduation? A little bit of both. If I work enough overtime, I can get to the $60,000 mark. Without the overtime, it would be after graduation. If I work like a madman with overtime, I can get there now, and then after graduation if i work like a madman um with overtime i can get there now and then after graduation i can so let's say let's say that we're talking to a guy making 60 to 70 000 and he has 23 000 in debt how fast can he pay that off 18 months within a year yeah within a

year and a half two years exactly yeah that's that's where you are so you're in good shape you're going to get there so you'll be able to not only make your minimums on the student loan when it kicks in, the other loan will probably be gone, and you'll not only be able to make your minimums on the student loan, but then on top of that, you'll be able to go ahead and knock it out really fast because you're going to be paying $1,000, $1,500 a month on that puppy when you get there. Todd is with us in Sioux Falls. Hey, Todd, welcome to the Dave Ramsey Show.

Hi, Dave. Thanks for taking my call. Sure. What's up? Hi. My wife and I have been using your principles for 10 years, ever since we've been married, and we are debt-free except for our house. I am a veterinarian, and we are from Washington State,

but we moved to South Dakota to take my first job, and then a practice is coming for sale back home, so we are moving home and I'm buying that practice. We're moving in January. We listed our house here in Sioux Falls on the 1st of August for $210,000. That's what our real estate agent suggested. And we lowered it $10,000 a month, so now we're at $170,000, and we've had zero showings. $170,000?

It's a super small town. Yeah. Over $210,000? And you got zero showings? Right. The town is about 1500 people wow so what would the property actually appraise that were you to have an appraiser come out it's probably between 150 and 160 then why did you put it on the market at $210,000?

Because that's supposedly closer to the comparables. Well, comparables is how you do an appraisal. Comparables are how you do an appraisal. Okay. So where'd you get $150,000? We finished the basement of this house. No, when I ask you what an appraiser would appraise it for, you said $150, but you said the comparables indicated $210.

I don't understand. Where did you get your $150? From the banker when we finished our basement. Oh, bankers are idiots. You don't need to have them use appraisals. No. Your real estate agent should be able to pull comps in the area. The problem you've got is not a value problem. The problem you've got is there's no buyers in a small town.

Right. Your absorption rate, we call it. The number of $200,000 houses that sell around there might be three a year. Right, exactly. And that's your issue. Can we hold on them and try to sell it 1,200 miles away or just keep dropping it and get rid of the thing? Well, I mean, what you're doing is, let's say that when it does sell,

if it takes a year, it sells properly for $200,000. But instead, you lower it all the way to $150,000 to get rid of it. Okay? That costs you $50,000. A lot. And if it costs you $50,000 to lower that, how long before the payments would eat up the $50,000? What do you owe on the property?

$100,000. And how much are your monthly payments? $750,000. Okay. So what we're saying is before you drop it 50 grand you would give it five years to sell okay 50 times 750 is 60 months right yeah is that going to mess up my ability to yeah you're going to be renting in the new place you're going to be renting in the new place. You're going to be renting in the new place until you get rid of this boat anchor that's around your neck. But I'm not going to give up $50,000 to do that.

So what you need to ask your agent is how many houses in this price range sell in a year? Or how many houses sell in 90 days in this price range? I think we just found out none in the 90 days yeah so how many sell in a year so what is the prognosis if we leave this thing at market value because it's not a price problem it's a problem you can't solve is that you don't have any buyers right the marketplace is just super small and so you've just got to ask you know because i guess you could lower it all the way to a hundred but at some point you've lost your tail end right yeah i'm gonna i'm gonna plan i'm gonna plan to hold it and give it a year well and just rent and on the other side yeah double

payments double payments for a whole year well for, for $50,000? Yeah. That's $12,000 as payments for a year. I won't give it a year, and I'm going to wager $12,000 against $50,000, assuming that a house is sold in that area when you look back at the historical data. If you look back and you find, okay, five houses sell in a year in this price range, in this town, okay, that's probably what you're going to find is something like that. If you find zero houses have sold in the last 24 months, then you're just screwed.

You've lost your butt. You're going to have to take the hit, okay? There is houses for sale. No, I said sold. For about two years. I said, I know. I don't care about that. I'm asking how many houses, $200,000 houses sold in a 20-mile radius in the last two years.

That's the data I want. If it's five, then I'm going to give it a year because I think that's what you're going to find. If it's zero, then you're in a completely disastrous marketplace. And you're going to have to take the hit. And you were somebody else's savior when you bought this thing. Wow. But I'm going to guess and say that's not zero. But, I mean, I know a guy just put a $10 million house on the market.

And zero $10 million houses have sold in five years in his area. Guess what? That house isn't going to sell for any price. He can drop it to $5 million. It's still not going to sell because he's got zero buyer activity in that price range in that marketplace. Zero buyer activity. That can happen okay things are getting pretty weird out there i thought the equifax breach was bad enough it exposed the personal financial info of half of all americans now we have breaches affecting almost

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Call 800-356-4282 or visit zander.com. That's zander.com. In the lobby of Ramsey Solutions, Jordan and Chelsea are with us. Hey, guys, how are you? Good, how are you? Good, how are you, Dave? Welcome, welcome. Where do you all live? Dayton, Ohio.

All right. And here to do a debt-free scream. Yes, sir. And how much have you paid off? $170,000. All right. And how long did you paid off? $170,000. All right. And how long did this take?

About four years. Okay. And your range of income during that time? So we started at about $45,000 and ended up at about $175,000. Well, there's a little chomp. Yeah. Okay. So what kind of debt was the $170,000?

All student loans. All student loans. All student loans. How long have you two been married? Right up four years. Okay. So you started out and just start out careers, and then both of you get jobs, and then the careers took off. Does that explain this huge jump? So when we got married, I was actually still in pharmacy school.

And when I graduated, that's why the income kind of ticked up. Oh, okay. All right. And that's why it jumped up a bunch then. Yep. Okay. Very good. So you're Oh, okay. All right. And that's why I jumped up a bunch then. Yep. Okay. Very good. So you're a pharmacist. I am.

Yep. I'm a pharmacist at the Pediatric Hospital in Dayton and also work at another hospital as well. Cool. And Chelsea, what do you do? So I'm a brand new nurse practitioner. I actually just graduated with my master's, so I'll be starting my MP career when we get back, but I've been working as an RN.

Nice. Both great careers and incomes are shooting up fast. And so lots of student loans. I get it. Yes, sir. You got married four years ago. So you have T-shirts. I can't see them from here.

It looks like a picture of somebody. And your whole posse is with you with their T-shirts. Both sets of parents are with us. And the shirts say, Team McClellan can't keep quiet because we're debt-free. All right. Okay. Very cool. So you get married.

You're in pharmacy school, and you're staring down the barrel of this huge student loan debt. I mean, it's awful. You're a millennial. You're not going to make it. You're going to die. How are you going to survive? You're a victim of the system, but not you guys. Nope.

So what happened? Tell me your story. So the story actually goes a little further back than that, Back to when I actually asked Chelsea's dad to marry her. He actually, he said yes, but then one of his next questions was, so I assume that you have a lot of student loans here. And I was like, oh yeah. Are these all yours? No, not all of them. 130 were his. Yep. You had 40, you had one 30. Okay. All right.

And so he said, so what's your, your plan about all these student loans? And I kind of floundered around. And then a few weeks later he saw fit to give us the total money makeover audio book. And shortly after that, we listened to it and just kind of looked at each other and was like,

this is what we've got to do. Like, this is the answer. He's a, He's subtle. Yeah. A brick through a window. I love it. Listen to this.

Okay. You've got no plan. I said yes on the blessing, but you've got no plan. Listen to this book. Good. I like this dad. Good stuff. Well done. Very cool. So you listen to the Total Money Make like this dad good stuff well done very cool so you listen to

the total money makeover audio then what happened uh we got married and after we got back from the honeymoon it was game on yep all off the audio book yeah wow very cool we listened to podcasts them too kind of our motivation to keep going that helped us sure four years is a pretty long slot oh yeah so how long before you got out of school? How long have you been out of school then? I've been out of school right at two years. Okay, so two of the four years. You guys are just hanging on, and Chelsea's working,

and your student loan's activated, Chelsea, of course. Right. But his hadn't, and so really this kicks in in the last two years. Right. Most of it did. Big time. With the income and with the student loan debt kicking off. Okay.

Wow. Congratulations. Thank you. You know how weird you are? So weird. You're so weird. I mean, normal is deeply in debt, broke and no hope. And you just decided not us.

Right. What made you believe you could do this? Just listening to people and hearing their stories, I think, is you just decided not us. Right. What made you believe you could do this? Just listening to people and hearing their stories, I think, is a big part of it. And that's part of the reason we wanted to be here is just to encourage other people who are listening to know that, yeah, it may be four years, but if you keep at it and keep your nose to the grindstone, eventually you'll get there. Two years were treading water and two years were game on. Yeah. I mean, you were game on emotionally, but mathematically, there's a curve on this.

It's pretty ridiculous. Yeah. Way to go. Thank you. We're proud of you. Congratulations. I know your parents are proud of you. So we know who one of your cheerleaders was, your father-in-law, Chelsea's dad.

And obviously, mom and dad, both sets are here to cheer you on. But who were your, that's your biggest cheerleaders? That was your camp? Basically, our parents. I mean, a lot of family support. I think other people at work were kind of looking at us cross-eyed a little bit. So family was in our corner, though. That's all we needed.

Yeah. I mean, most pharmacy students and nurses, it's a typical thing, like a doc or whatever, we're going to keep these loans around like they're a pet. For sure. You know, and they don't think they can just knock them out. And you just punched its lights out. So what do you tell people the key to getting out of debt is? I think just finding a plan, a budget, sticking to it,

especially if you're married, just get on the same plan and go at it full force. I think having your partner there is key because there were definitely times, four years is a long time, where kind of like I'm tired of this, I don't want to do this anymore, and he'd be there to pick me up and like we're still doing this and we had each other's back yeah that's a big part of it that's really big very well done good good good what was the hardest part i think just continuing to stick with it four years is a long time and so just having to go back to work day in and day out

and know that we're going to get there eventually, but it's a lot of work between now and then. So how old are you guys, about 28? Yeah, I just turned 28. And I'm 26. Okay, that fits the storyline. Very good. Good for you. Well done.

Well done. You're not even 30, and you've already killed it. You've got a great income, no payments. Yeah, you're going to be one of our everyday millionaires. Absolutely. Looking forward to it. On your way. Yeah, live like no one else.

We've got a copy of Hogan's book for you, Retire Inspired. That's the number one best-selling book, and that'll help you with that next chapter. Because you've got Chapter 1 closed. Time to open Chapter 2, baby. Game on. We've got stuff to do here. I love it. Well done, well done, well done.

All right, it's Jordan and Chelsea from Dayton, Ohio. $170,000 paid off in four years, making $45,000 to $175,000. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! I love it! Well done, you two.

Well done. No victims there. Those are victors. You're going to be one or the other, aren't you? I mean, we all get knocked down. We all get trashed. We all get ourselves in stupid situations we all do this regardless of which generation you're from xyz millennial boomer

i don't care every one of you every one of us have had the opportunity to do something stupid or be a victim victim of the the man i'm a victim. Victim of the man. I'm a victim of an ism. The isms have got me. I'm stuck. Yeah, I'm a victim of baldism. People don't respect bald people. I'm hurt.

I'm a victim. Not those two. Those two millennials right there, they're rock stars. And I meet millennials just like them all the time. So don't you dare come into my presence and trash millennials. Oh, yeah, there's some of them get their participation trophy and live in their mother's basement. I got that. But I meet people just like those two all the time. This nation, this world is in good hands with this next generation coming up.

Not because of all of them, but because there's plenty of good ones, plenty of good ones. And if you think they all vote one way or think one way, well, you're just narrow and stupid. You don't know what's going on out here. I get to meet these kind like this right here that hang out. I mean, that's a 28-year year old couple that'll make two hundred thousand dollars next year and don't have any debt in the world and know how to control their money and have relationships with both sets of parents that are here to endorse them and lift them and cheer them on i mean their life is set well they're privileged yep they are they were privileged to make a decision to win that was their privilege

they decided instead of going well i guess i'm just always gonna have 170 000 a student loan debt nobody can pay that off nope not those guys they did it so what are you gonna do yeah you well dave you don't understand. I do understand. I don't care if you make $20,000 or $220,000. I don't care if you owe $20,000 or $220,000. I'm here to help you. I believe in you maybe more than you believe in yourself right now. When are you going to get control?

When are you going to walk out of debt? When are you going to become wealthy as a result? You. Talking to you wealthy as a result? You. Talking to you. Ready? Set? Go! It's your turn! I'm going to go. Thanks for joining us, America.

Pat is with us in South Dakota. Hi, Pat. Welcome to the Dave Ramsey Show. Hey, thanks for taking my call, Dave. Hey, quick question. If you have a million dollars worth of farmland that brings you home $22,000 a year after taxes and all the things are paid, would you be best to sell that and put that money in the market and try to get 7% on that? Mathematically, if that's the only lens through which you're looking at it, sure. And, I mean, my mutual funds average north of 10% to 12%.

Yeah, obviously. And so if you had a million dollars invested and you made $100,000, that would be more than $22,000. So what's the 22? The 22 is you're leasing the land? Yes. And that's just your share of the crops or however the lease payment is derived? Yeah, just not share of crops, just leasing the land. It's a straight lease?

Yep. Okay. Is there a history on this land, nostalgia? I mean, has it been the family for 20 generations? No, not really. No. How did you come into it? Oh, my wife had it, you know, when I married her, you know.

She got it. Her husband, you know, first husband, died. Okay. All right. And that was, and it was his farm? Yes. Okay. So there's no particular emotional tie to this?

I would say no. Would it be for her life is always my wife has always thought thought of it as a retirement but i just never thought it was a very good investment if that's all it's yielding no it's yielding two percent right and i suspect you can do better than two percent on your money i mean you could do that at the bank. God help us, right? But, yeah, I mean, you ought to be able to make five times more money than you're making on this investment. Or, you know, even if you took it and bought a million dollars worth of other kinds of real estate somewhere else, you know,

that million-dollar apartment complex will yield you a lot more than that. A million-dollar office building somewhere would yield you a lot more than that. Million dollars worth of rental houses in a metro area would yield you more than that. Maybe not in a rural area, maybe in a rural area, but not for sure. But I mean, you know, so it doesn't have to be that you put it in mutual funds. But yeah, you certainly are not getting much return on your million dollars. That's what it comes down to. And so if there's nothing holding you to it, I'm always hesitant about farmland because there's always nostalgia

and history and everything else tied into it. In this case, there's not. So it kind of becomes a no-brainer to sell it and invest the money. Tariq is with us in Denver. Hey, Tariq, how are you? Oh, I'm doing fantastic. Thank you for having me. First time watching you, actually. Well, I'm honored. Thanks. How can I help? So I actually just got accepted into pharmacy school starting next year in the fall. And so I guess, oddly enough, I'm not asking you how to get out of debt or anything of that nature

to talk to you about that. I'm out of debt, but I'm about to go into debt, $32,000 per year for the four-year program, and I'm kind of just trying to get my mind wrapped around it, learn some stuff, and I figured I'd get some insight because I feel like I've heard your name for the majority of my life. So here we are. Sometimes it's a cuss word. All right, so 32 times 4, and so we're dealing with $130,000. What can you do to not go $130,000 in debt? Have you thought about that?

I suppose save up some money and make it $120,000 in debt. Now, honestly, I guess I'm not too sure, and I guess that's kind of why I'm here. I haven't even talked to the school about the debt yet, but pharmacy school feels like the first step of my path, so an inevitability, I suppose. Okay. Well, the thing I'm going to do everything I can to not do this debt, because the problem with debt is on some kind of a plan like this, debt only works if everything works.

So last week I had a very sad call on the show. It was a young man that called me that was $432,000 in debt for med school. Only he flunked out. Okay. And so what he was now, he's a biology major with a four-year degree and he's got 432 000 in debt see in my name if he'd become a doc and made 200 000 a year he probably could have paid off that debt right yeah but if you don't graduate from pharmacy school dude you got issues agreed because they don't give from pharmacy school, dude, you've got issues.

Agreed. Because they don't give you a money-back guarantee on graduation. You know that. I've even heard you can end up with brain cancer and still end up with the debt regardless if you dropped out for that. Exactly. Yeah, I mean, not too overly. I mean, granted, if we're talking about from me being able to actually succeed in pharmacy school, I'm not so much worried about that other than, I guess, the random chance occurrence that something horrible happens.

There's all kinds of, I mean, you know, but so all of those to say that we need to figure out another plan, another way to do this. So how can we do this? Well, the good news is the pharmacy industry really, really wants you to become a pharmacist. And so I suspect CVS, Walgreens, I suspect a lot of the drug companies have wonderful scholarship programs. They're so desperate.

Now, you may have to sign up to work for them for four years after you graduate or something. Oh, well, you graduate debt-free. And so I'm going to really work the industry that you're going to be working for for scholarships and start working that. What were your grades in undergrad? 4.0 for the five years. That's very helpful.

Yeah, very helpful. It puts you in a position to make a good case that, A, you're a good investment, and, B, you've got a likelihood of completion. And so they would invest in you, a scholarship program of course obviously the outlier is military is always an option they'll pay for anything in education if you go apply it with them but you're going to be working for them for four years or some some stretch after you get out but you got a free education so it's 120 000 signing 130 000 signing bonus uh of course uh what can you do to earn lots and lots of money uh between now and then and while you're in pharmacy school to uh to you know pay your way along that's the other thing you

can start thinking about i don't know but maybe there's something out there that that you'd have to make a lot it's a lot of money but uh i mean you have to make your living expenses plus 32 000 a year that's pretty substantial income we're asking you to make but i'm gonna really start scratching around those areas because i'm gonna tell you i don't tell people to borrow money and i'm not gonna tell you i'm gonna start with you so we're not gonna tell you to borrow money but i'm gonna tell you think differently about it and what can you do that puts you in a position that you can live your dream without it potentially becoming a nightmare? Open phones at 888-825-5225.

Let's take a minute to think about your future. You. What if you never had another car payment? What if you never had another dime of credit card debt? What if you got rid of all the student loans? How much money would you have? Tons. Your most powerful wealth building tool is your income.

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