The Ramsey Show - App - Make the Change: Deprogram Yourself From the Toxic Money Culture! (Hour 1)

Episode Date: November 8, 2021

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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's the Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW as the status symbol of choice. Ken Coleman is my co-host today here on the Ramsey Show, Ramsey personality, best-selling author, and author of the brand new book that launches tomorrow, From Paycheck to Purpose, The Clear Path to Doing Work You Love. Now, Ken, if a book launches tomorrow, that means today is the last day to get all the bargains.

That's right. And we've put out quite a bargain. I mean, first of all, $20 is your entry point for this at RamseySolutions.com. And then we're going to give you the e-book, the audio book read by me, plus over $100 in other tools like our resume templates, a video course that teaches you how to get hired, how to beat the competition. Right now, Dave, we have the biggest demand in employee talent we've ever seen, and it is competitive. And so that's a course that comes with that purchase, all a part of that $100 plus of free items. So we are certainly bribing, but it's one of the greatest bribes of all time. 55% of Americans are looking for a new job right now.

And if you want to stand out in that sea of talent, passion, and experience, you have to be very, very clear. And Ken has the process to do that from paycheck to purpose one of the things some of you discovered during the uh aforementioned pandemic was that life's too short to spend your life doing things you suck at or you hate and or both and so people are leaving stuff where they're not any good at it they're leaving stuff where they hate their toxic environment they're sick of it they want to move on they want to do something with meaning. And From Paycheck to Purpose helps you do that. In the title, it tells you that.

Yeah, it's the whole process. By the way, we're giving you both. We want you to have a fatter paycheck and experience more purpose. And yet, Dave, in that Ramsey Solution. It's not either or. It's not either or. It's both and. It's not like, I have to live my purpose, but I'm going to work at a nonprofit for 10% of what I can make somewhere else. No, that's just bull crap.

That's exactly right. And this idea that I can't make a really good living doing something that I care deeply about. It's a process, and we unveil that path. Interesting, Dave, in the Ramsey Solutions Work Study, the full study will come out first of the year. That 55% of Americans looking for a new job right now, That's one little piece of data from this study. Another piece is that 64% of those Americans that are actually, 64% are saying, I want to move, but I'm not sure where to move. And again, this book provides the clarity. That key word there, clear path, is this isn't just grab your machete and go. We're going to point you on the right path and show you how to do it, even if, by the way, you're working through the baby steps.

I think a lot of people, certainly in the Ramsey Solutions tribe, go, okay, I definitely want to work on purpose, but I'm paying off debt. Well, there are multiple stages. Maybe you could make more money. Get a bigger shovel as a result of this and get out of debt faster. So it's very clear. get out of debt faster so so twenty dollars for the book today's the last day that you get a hundred dollars worth of bonus tools like resume templates guides video courses all kinds of goodies included in the audiobook the e-book everything in there it's a it's a deal today is the last day from paycheck to purpose by ken coleman number one best-selling author esmeralda

is going to start off this hour in fresno hi Hi, Esmeralda. How are you? Hi, guys. I'm glad to get to talk to both of you. Better than I deserve. What's up? Okay, so I'm currently a professional nurse, and I get paid pretty well for what I do just because of the environment that I work in. And my goal is to become a school nurse, which I actually got the position,

and I should start soon. But I'm definitely going to take a pay cut just because of the change of environment. And this is something that I've been wanting to do for a very long time because I'm just stressed and overwhelmed. And the environment is just not the best to work at. But my question is whether this is a good move right now financially, just because I will be taking a pay cut. How big of a pay cut? It's about $15,000 a year. What do you make now? I make $100,000. Okay. And you're going to cut to $85,000 and be a school nurse? Is that what you said? Yes. But then in about two to three years, I'll be back at 100. Okay.

Well, let's talk about what the next two to three years looks like before that. So where does that put you? Are you single income, double income? Double income. My husband makes about 120, so that's why he's not worried, and he's like, you need to go for this if this is something that you really want to do because we have about $40,000 in debt, so he's willing to buckle down and pay all that off. That's awesome. Well, you have a $200,000

income between the two of you, sure. I think it's just more me and being scared of like, hey, I went to school, I got my RN, I wanted to make $100,000, and I think it's just more me taking the drawback of taking the pay cut. Yeah can I suggest to you Esmeralda it may not be just you part of this I wonder I wonder if you're worried about what other people might say or are already saying when you go from RN and this you know that's obviously a very prestigious role and moving into school. I wonder how much of that is coming from what you think other people might think or say. I think it's just me. I had a goal of making a certain amount, and now I am.

You did it. And with overtime here, the potential is limitless. But also I'm concerned with my mental health and obviously a little bit of safety because it's getting a little out of control in here at times, I would say. Well, Esmeralda, you just laid out multiple reasons. You answered your own question as to why this is the right move. All of those negatives are absolutely confirmation that you need to move. But the biggest confirmation is that you've longed for this.

You said, I've wanted to do this for a long time. Your husband is on board. That's a fantastic position to be in financially. This is not going to be that big of a hit. You're still going to pay off that debt, and you're going to be happy, and you're going to be fulfilled. And I understand where you're coming from, but you need to give yourself a break because you have, in fact,

achieved that goal. But what's great is you now realize that that goal doesn't match up with your heart and you got to follow your heart here esmeralda step into this this is a great move there's nothing wrong with this move this is the right move what's the uh what's the worst case scenario you take the new job and you get over there and you hate it and 20 seconds later you can be an rn again in a hospital oh no, no, yeah, I can find a job. So this is not like you burned all the boats and you can't go back home, you know. So you can do whatever you want to do.

Go try it. And if it doesn't work, go back to being an RN in a less toxic environment, someplace, some other hospital, some other situation. I will be an RN at the school. I know, but I'm saying go back into the medical world rather than the school nurse world. And if you don't like it, if you like it, you know, this is a no-lose scenario. Because you can, in the world that you live in, you can get another job in 26 seconds if you decide you don't want to be a school nurse anymore after a year.

So do it. Absolutely. Go do it, Esmeralda. Yes. That's exactly the way this works, guys. It's what Ken does every day on the Ken Coleman Show. If you want to talk careers, we'll do that. If you want to talk money, we'll do that.

The phone number is 888-825-5225. Or we'll talk about your mama right in front of you if you want me to. Whatever you want to talk about, we're here. It's that simple. The book is From Paycheck to Purpose, The Clear Path to Doing Work You Love. On the streets tomorrow, last day today of the pre-sale at RamseySolutions.com. With all the goodies, get it while the getting's good. Hey guys, Dave Ramsey here.

I know this year has been crazy and a lot of you are super stressed about money. But what if I told you there was a way you never have to worry about money again? Well, there is. When you have the right plan, the right tools, and the right teaching, you can be confident you're always doing the right thing with your money. Ramsey Plus gives you all of that. It's our all-access membership to help you get out of debt, save for emergencies, and give with outrageous generosity. Here's how it works. You'll learn the proven plan with our best-selling

content, including Financial Peace University. You'll budget with the EveryDollar app and finally take control of your money. Then you'll track your progress with the new Baby Steps app so you know you're hitting your goals. Decide right now to never worry about money again. RamseySolutions.com and sign up for a free trial of Ramsey Show. Common sense for your dollars and cents. In a culture where common sense is so rare that if you have it, it's like having a superpower. Ken Coleman and I are here to help you with your life, your money, your career. The phone number is 888-825-5225.

Devin is calling us from Japan. Well, there you go. Hi, Devin. Hi, Dave. I'm looking for short-term housing for about two months out of the year. When we come home, come back to the States in the summertime, my wife is a teacher and I'm a retired military. So in the summers, when we come home, we need a place to stay for about two months. And we don't own property right now. And with the way the market is right now, I don't see when that could actually happen.

But should we buy a house or is there a good way to find? I didn't think so. And I wasn't really warm to that. I've tried Airbnb, but Airbnb just seems really overpriced to me. So I'm looking. Are there any other alternatives to that? There's some corporate housing stuff out there in the hotel world where somebody's coming to town to work, and it's like a corporate suite thing.

It's not necessarily the best in the world, i would probably prefer an airbnb or a vacation setting of some kind um and it just depends you know what i've done on uh not airbnb but on vacation housing is uh and i did it not long ago i negotiated with the owner i said listen i'm not going to be there for a week and i'm not going to be there for a weekend i'll be there for a month now you don't have to change anything out. You don't have the labor. You don't have the turnover. You don't have somebody tearing up your stuff.

This was a luxury property. I'm going to be there a month. I didn't stay the whole month, but Sharon did. So I had to come back and work. But anyway, so we rented the thing, and it was, in effect, like an Airbnb type thing. It was a luxury vacation rental, and I just negotiated with the guy. Now, I got to tell you, the first three people we went at said, no, we want full price. And I said, well, you're not the one then.

Because guess what? There's three more down the street, and I'm going down the street, down the street, down the street until I find one. And I think that's what you're looking for. So you may have to get something that's not your first choice, but I think you shop around in that world and you go at it with, this is a two-month deal. It's not a weekend rental. And you should get a different reaction.

If you put your shoes on the other feet, what I was doing, I was saying, I mean, wear the other guy's moccasins. If I had a vacation rental up, I would do a deal that way. Sure, yeah. Because I'm getting some, I don't have to screw with it, right? the other guy's moccasins if i had a vacation rental up i would do a deal that way sure yeah because i'm getting some i don't have to screw with it right and somebody's not i don't have the wear and tear of three bachelorette parties versus a stable family you know coming in and out of there which nothing will tear up a house like a frat or a bachelorette party they'll just tear up anything right so wild. Yeah. Crazy.

It just depends here on his situation, too, where he's staying, where they're coming in. Do they have any community where they come back to for a small amount of time? And putting the word out, too. I wouldn't overlook the idea of putting the word out and saying, hey, here's our situation. You know, rates can be really high on these vacation homes. Yeah. Some local pastors, if your mom and dad are in a church in that market or your brother's in a church in that market tell them check with their pastor and say hey my my you know my brother you know he served his wife's a teacher yeah and uh by the way thank you for your service yes absolutely and uh that's the best idea i got dude off the top of my head uh

that and you can check some corporate housing uh the those things are typically not as good a property as a good vacation rental a good one rick is with us rick is in houston texas hi rick welcome to the ramsey show and so i recently lost my job i was on a step 3d so i had 10 000 in my savings for my emergency fund and 17 in my separate savings i was saving up for a house fund if i need to start pulling from my savings before i'm able to land another job should i be pulling from the house fund and leave the emergency fund alone or should i be pulling from the emergency fund itself i don't think it matters because you could rename either one of them at the drop of a hat, right? Well, I guess.

I didn't think of that, yeah. Yeah, it's just $27,000 we've got between us and problems. And so, but I probably philosophically would start with the house fund. Here's the thing, though. I really don't want you to tap it at all. When did you lose your job? Friday. From what? Why? there was a training incident i was training that guy and there was an undercharge and one of

the units and you know they terminated both of us okay all right what kind of work are you looking for uh i'm a process operator in the chemical field okay uh in your area of houston texas i'm assuming you've done a cursory check what kind of jobs are open is there a lot out there or is it a little bit tougher yeah typically they do the most hiring in the spring but there's a few here and there that'll hire uh at this time of year it's just uh you know well and they probably are shorthanded right now. Right. You probably got some people that normally would hire in the spring, but they've got some empty seats. Yeah.

Right. What kind of money were you making? I was at base salary of $95,000. Yeah. You know, I'm with Dave on don't touch it at all, and I'll tell you why. headline over the weekend. Companies, it said something to the fact of no experience, no education, no background check required. That was the headline. And that's where companies are right now. And we're talking about big time companies.

And so I just think that the market is so hot in the interim while you're applying and you're making the connections and getting interviews. I mean, dude, you could be making somewhere between $15 and $20 an hour just to kind of keep things going. I just wouldn't touch that account. I don't think you need to. I think you're going to start making some money by Friday while you look for this job. And I think you'll land a job in two weeks. So I don't think you're going to end up touching it.

But you can make $15, $20 an hour doing almost anything right now because there's such a hurt in the market. And it may not be what you want to do, but rather than mess up your house fund is what I want to do. Sit on my butt at home and mess up the house fund? No, I'll go do something else, something unpleasant that I didn't really sign up for until this gets solved. But I think you're going to land something if you'll get on this really, really fast. So, Ken, the first thing he should do in his job hunt is what? First thing I want him to do is look at what's open out there, and then he immediately goes, okay, who do I know? I'm looking at the connections. Yeah, proximity principle.

Because he's got experience and skill. Yeah. Okay? And so he's immediately going, all right, company XYZ, ABC are both hiring a position. I'm ready to go. Who do I know over there so I can fast track and get above the applicant system? And what I mean by that is you know somebody, Rick, and they say, all right, yeah, man, I'll put in a good word for you. I work in building B.

The guy who's hiring is over in building A. I'll walk your resume over and put a handwritten note on it if they're not in their office and go, hey, I've known Rick for 18 years. That's the play here. And then you go through the applicant system but you want to have a good impression before you ever get into that and they go okay we're going to fast track an interview for rick that's what we're trying to do first you get your foot in the door you got to know somebody to get in and get past the 30 000 resumes in a stack yeah and um the book he's referring to the concept he's referring to is the proximity principle it was the number one bestseller rick i'm going to send you that

and i'm also going to give away my very first copy that i gave away of from paycheck to purpose the clear path to doing work you love so i'm going to send you both of ken's books the new one will be a bestseller as well um and then i want you to also i'm going to send those to you kelly's going to pick up and give you the stuff. But go to his website and download all of his free downloads on resumes, on letter writing, on the things you do to get

your foot in the door. Do not just go apply for 8,000 positions at Monster.com and be surprised nobody called you back. That's a fool's errand right now. And let me tell you why that advice that I gave is also so vital in this situation. It doesn't sound like there's an ethical issue here, but the fact of the matter is Rick was terminated.

And yet we still have a super hot market, and people are okay with that. If you own it, don't try to do a politician spin on this stuff. If it comes up, own it. Own it with confidence. Humility, I learned from this, is a good thing. I totally get it. Don't own it. Own it with confidence. Humility. I learned from this. It's a good thing. I totally get it. Don't throw the old company under the bus. Here's how I can help you win. I'm ready to go.

Don't ever try to just kind of cover that stuff up. Well, when I asked him, he gave the perfect answer. He gave a great answer. It was not emotion. It was not throwing the other company under the bus. He was not a victim. That's correct. It was very clear, very concise. And that's the exact answer you ought to give up front in any initial interview so that no one catches later and goes, Well, why didn't you tell us about this?

No, tell them right up front. Bust that down and move on. Move on. Move on. Move on. This is The Ramsey Solutions on the debt-free stage, Kyle and Brenda are with us. Hey, guys, how are you? Good, how are you?

Welcome. Where do you guys live? Delano, Minnesota, just outside of Minneapolis. Wow, and all the way to Nashville to do a debt-free scream. How much have you paid off? $572,383.41 41 cents wow how long did that take seven years and two months all right and your range of income during that seven years and two months yeah it's about 110 to 200 and currently we're at about 140 okay cool what do y'all do for a living uh brenda's a stay-at-home mom and i am a reporting analyst for a large health insurance company.

Cool. Well, I'm guessing by the length of time and the huge amount of money you paid off your house. Yep. Woo! Look at that weird people! And we also own a third of a lake home, too, so one and a third houses, I guess, technically. All right. All debt-free.

100% debt. Don't owe a soul in the freaking world. Nope. Nope. Way to go, guys. 100% debt-free. Don't owe a soul in the freaking world. Nope. Nope. Way to go, guys. Look at these weird people. These are weird people right here, man. You guys are amazing.

Congratulations. What a seven-year journey. That's absolutely cool. Yeah. All right. Tell us the story. How'd you get on our stuff for seven years? Yeah.

When our second child was coming, we knew they were on the way, we put in our spreadsheet that was less than accurate and optimistic at best, and the number was actually negative so we knew that we had to do something. We didn't have enough money to pay for daycare for our second child. And so we naturally, I think we went on Facebook

and then when the student's ready, the teacher will appear and someone posted something about it. B, the teacher will appear, and someone posted something about it, bought the total money makeover, and I persuaded Brenda to join in the fun. A lot of persuading. I'm glad he did. Okay, so he reads this book and says, we can't pay for daycare, which you already knew, but

this is what we're going to do is live on beans and rice, rice and beans, live like no one else so later we can live and give like no one else and you said i don't think so yeah well it took a lot of convincing to you know the slow steps of you want me to cut up my credit card you want me to do what what if something happens being a mom having all those insecurities and then we just went for it and we went crazy and everybody calls us crazy you are crazy you're wonderfully weird i love it wonderfully weird so what did he do that finally convinced you brenda what did you do i don't i don't know it was i think just staring down the the just staring down that we had no other choice i don't know what else to do so i gotta try this crazy stuff

right right right and he's my partner and i him, and so we just went for it. Okay, and then the more it worked, the more you thought this is smart. Right, right, right. We got after it pretty quick. I mean, and I was able to quit my job and take care of our kids before our third was born. We bought a brand new vehicle with cash and did all that before we even started to attack the house and the mortgage. So how fast did you get out of the non-mortgage debt? It was a little over two years, like exactly what your numbers were. Our normal stuff, yeah.

Two years to do that, seven years to pay off the house, yeah. And the car she's talking about was a sweet minivan, so she might have left that part out. A sweet minivan. Let's just go ahead and call it what it is. It's sweet. So, Brenda, you said something a minute ago, and I think this is really good. I'd love for moms and wives to hear what you say about this.

When he first approached you about this, you were like, wait a second. I've got to cut up the credit cards? What if something happens? Implying that you saw those credit cards as a safety net, and I understand that. And yet, here you are now. So what would you say, which is a natural kind of that mother, you know, like, hey, I've got to take care. I'm a mama bear. On the other side of this, what would you say to somebody who's listening and watching right now,

and they feel the same way about this journey? What? I've got to cut up the credit cards? That's our safety net somebody who's listening and watching right now they feel the same way about this journey what i gotta cut up the credit cards that's our safety net what's the answer to that now go get the scissors i don't know it just is it's just you um but can you have a safety net without credit cards is my question absolutely yes i've never even thought about getting a credit card you absolutely can so how did you approach that emotionally as you started to walk through that? Because you cut them up, and then how did you address that safety issue, that emotional need? Yeah, that's a good question.

I just trusted the process and knew that it was there for me and it was there to catch me as long as I put my trust in there. That's good. Just for a while, because here you are seven years later with a paid-for house. What's this house worth? It's probably $250, something like that. We got real crazy. We actually downsized our house in order to be debt-free sooner. You introduced us to the minimalist, and then we gave away all our stuff,

and then we realized we don't really need the big house that we were in before, and opportunity came in that we were able to get my grandma's house, and we downsized it. We already thought we were nuts, and my grandma's house, and we downsized. Everybody thought we were nuts, and two years later, no. Here we are. Yeah, here we are. A lot of people thought you were nuts, but you're not. You're on your way to being Baby Steps Millionaires in no time.

I think so. Well done, guys. We already are. You already are? Yeah. All right. So how much in the 401K? It's probably like six.

It's like 600. And then the house and cabin is 400 something. So it's plus our minivans probably still worth 10. That sweet minivan. Put them over the top. That's your wealth building breakthrough. The sweet minivan. Way to go, guys.

I love it. Well, you did everything in order. You did it right you submitted to the process and guess what the process worked yep so you're not only debt free house and everything baby step seven but your baby steps millionaires as well why way to go i'm so proud of y'all what do you tell people the key to getting out of debt is well we were saying about the budget and how that's cliche so we we were going to pull up the minimalist card and just say, like,

just keep an open mind and try to listen to what other people are doing and just keep learning. And once you get going, it just snowballs and it's just rapid pace. And next thing you know, you look back and seven years later and you're done. What about you, Brenna? What do you tell people the key is? The key is definitely the budget but two i think like the deprogramming of what the world has told us that we need to have be and how all of a sudden you look back and you're like wait i don't need all this stuff i don't need this house i don't

need these things i just need my life i love it wow we've got to send this to Joshua. They will love this. Joshua and Ryan will love it. They will love this. Yeah. That's really great. We had dinner with them last time they were here up at my house and hung out. We had some great conversations until deep in the morning. They're incredible guys.

So well done, you guys. I'm so proud of you. Very, very, very cool. And you brought the kiddos with you to celebrate? We did. What are their names and ages? Drew is nine. Will is going to be seven.

And Reed turned five on Sunday. All right. Very cool. And have they been plugged in to what you're doing? Oh, yeah. They know that their lives are changed. They do. There's no payments in your world.

None. Ever again. I love it. Way to go, you guys. Very, very, very cool. Well, we've got a copy of The Legacy Journey for you because that's definitely the next chapter in your story as you continue this Baby Steps Millionaire journey. And I'll give you an extra copy of Total Money Makeover to give away. Maybe you can start somebody off like you guys started off on that same book. That sounds good.

And that's how you got here. Well done, you guys. Very proud of you. Woo! I love it! Man, these people are weird they're awesome they're awesome all right kyle and brenda drew will and reed from the minneapolis area 572 000 paid off in seven years making 110 to 200 house and everything baby steps

millionaires count it down let's hear a debt-free scream three two one yeah man oh man oh man ken when you have a clear path and and the stuff she said, I love the phrase, submit to the process. She said, deprogrammed from the culture. Big word. Because the culture's idiots. That's right. In almost everything. That's right.

Almost any area of life, this culture has lost its mind. So deprogrammed from that, doing your own thought, your own independent critical thinking. My good friend, one of my best friends is a pastor. He says, don't let the world teach you theology. Talk about deprogramming, right? And so, you know, where are you getting your truth from? What are you dialing in on? Are you believing all these broke people?

Are they giving you advice about money? Because they talked about how many times somebody thought they were crazy. But look at crazy. Look at crazy now, baby. Crazy rich. I love it. This is so fun. This is The Ramsey Show. We'll be right back. I'm Dave Ramsey. Welcome to The Ramsey Show.

Ken Coleman, number one best-selling author, is my co-host. His brand-new book comes out tomorrow, From Paycheck to Purpose, The clear path to doing work you love. The Baby Steps are a clear path to becoming a Baby Steps millionaire. Paycheck to Purpose outlines the clear path to doing work you love. Exactly step by step by step what you need to do. If you want the goodies, all the pre-sale items that go with it, order it today and you get an extra $100 worth of stuff that you won't get tomorrow,

all for the same $20. Not a bad deal. Our question of the day comes from Blinds.com. They have a 100% satisfaction guarantee. That means even if you mismeasure, you pick the wrong color, they will remake your blinds for free. You get free samples, free shipping, and with the new promos they run every month, you'll save even more.

Use the promo code RAMSY to get the best deal. Today's question comes from John in Indianapolis. I have a high-stress job that pays $230,000 a year. In addition to dealing with aging parents, teenagers, and the pandemic, the job is wearing me out, and it's having a negative impact on my life. I've been offered a new job where I'd take a $30,000 to $40,000 a year pay cut with the same company, but the work is invigorating and entrepreneurial. I'm having trouble justifying this pay decrease, although I feel I'm going to be happier.

Our only debt is our mortgage. College is funded. My wife earns a great salary, and we have a healthy savings account. So why am I struggling with this decision? I don't want to be one of those unhappy people saddled with a job they don't like, yet they stay for the money. Well, John, then don't be one of those people. You don't want to be one of those people? So my mentor, this guy to the left of me, he's got a great little tactic when he gives a speech and he's talking about money changing. You go, just decide. Just a little quick clap. And I

think, John, you don't want to be one of those unhappy people that stay just for the money. Let me help you a little bit. You don't need the money. A $30,000 to $40,000 pay cut right now for you is going to take you just below $200,000 a year, and your wife makes a great salary. We don't even know that number. So you guys may be in that $300,000 range. You're above $250,000.

This work is clearly having a tremendous impact on you. All of the signs are there. You need to give yourself permission to do the right thing, and this is the right thing. I will also tell you that this new job, being invigorating and entrepreneurial, tells me two things. That there's probably a path back up to the money you're making now, if not going beyond that. I don't have that information in front of me, but this is the right move. You don't need to feel bad about it. You're not doing the wrong thing.

You know, Dave, it reminds me, we heard our last, the debt-free screamer, talk about deprogramming. And this is an issue here where we are so programmed in our world to put significance and success completely in the financial bucket. And yet that's just simply not the case. And it makes people like John feel like if I take a strategic cut that I can absolutely absorb that somehow I'm doing the wrong thing or it's a dumb thing or a not smart thing. And I think that's real.

But in this case, John, this is the right move all the way around. I don't think that's real but in this case john uh this is the right move all the way around i don't think it's dumb and i agree with ken i would take it however i think you need to keep in mind that the aging parents and the teenagers are still going to be there so where's your stress really coming from? What's really going on? I mean, have you got some family stuff that's out of balance and you need to set some boundaries? Have you got some tough decisions you've been unwilling to make

with either one of those other two subjects that are the real cause of the stress? Make real sure you're treating the right problem, not the symptom and uh the second thing is this again i'll agree with kent take the job john however i do not agree with the supposition that the only way you find happiness is to move down in income that you can't find something that's invigorating what was the phrase he used an entrepreneurial that pays 300 000

a year why is it we always think to be happy we have to make less money what is this stupid thing that's floating around in this culture that says that uh by the way if you do something you love you're better at it and you should make more money ultimately yeah i mean but this idea that you have to have poverty associated with happiness or less money associated with happiness is absurd so i would choose a third option as a consideration and that is where can i find something invigorating entrepreneurial that pays 300 oh why is it we have to go down all the time i don't understand this so anyway it's okay if you do and

i'm going with ken's recommendation but i'm going to challenge you on those two points make sure you got the parents and the teenager thing working because dude that's still gonna be there yeah and you got to be careful what you think the stress is so you know the first time that happened to me is is when i filed bankruptcy the bankruptcy attorney um didn't do a lot of things right, but he said one really wise thing. He said, because you're under this tremendous weight of debt, which feels like he feels, right? You've got this overwhelming anxiety over the top of you,

and it's like something's standing on your chest. I can't breathe. And then the day you file bankruptcy, that debt just you know most of it anyway is gone right i know you got some more stress points but by and large i've been fighting it for two and a half years i was ready to set down the rock baby okay but that guy looks at me and he goes you know what filing bankruptcy does not create an income yeah mic drop yeah that's right it's really you know it's like you know you're not going to prosper because you filed bankruptcy you've still got to go out

there to kill it and drag it home whatever it is you still got to find a way to eat and of course i respond i got this figured out but but i mean it's still i can remember that 30 years ago i remember that conversation right now yeah and so that's what I always think. Be careful what you wish for because it may not be touching what you're talking about. You're still the common denominator. You're still going to be in the next marriage. You're still going to be in the next job. Your parents and your teens are still going to be there after you make this move.

You're the common denominator. It follows you everywhere. I'm glad you brought that up because he could take this move and it could be on paper all the things that he says it is. But if the personal life is burning, the job doesn't solve that. Right. It will help, right, in some ways. You've got some purpose as you move into the office. But if it's 70% job stress and 30% family, it'll help.

It'll help. If it's the other way around, It's not going to make a difference. You're just going to make less money is all you're going to do. That's exactly right. And I think that was a really great call out here. And I would also agree with you in this situation, if that's the only thing that you've got, but it's rarely the only thing, and this is a situation where you're going, well, I've got an opportunity here, and it's going to be better in all these ways, and it's less

money. And I think you're right. You've got to consider the whole field, the whole universe of jobs. Samantha's in charlotte north carolina hi samantha welcome to the ramsey show hi dave hi ken it's an honor to speak with you both you too how can we help well my husband and i have well we're on baby step seven we have five different retirement accounts between us both. I'm wanting to open a SEP IRA with our business to reduce our taxable income, but my question is, is there a maximum number of retirement accounts a couple can have without being penalized somehow? No, there's not a maximum. You can do whatever you need to do. If you have too much money sitting in an old 401k or old IRA, it could affect your Roth contributions, but that's all.

But those are old. But in terms of can you do it, you can do a SEP IRA. You could do a SEP Roth IRA instead. You can do a Roth IRA at the same time. And your husband could do his 401K over at work. Now, the SEP is any employees who have been with you more than three of the last five years are also going to get the same percentage of their income that you put in the percentage of your income into it. So do you have employees who have been with you a while?

We do not. Okay. So you can put in up to about 13.6 is what the calculation is going to end up being. 13.6% of your profit on that business. Your taxable income on that business can go into that SEP and you can make it a Roth SEP is what I would do and get with one of our smart investor pros at RamseySolutions.com and get signed up for that. And, you know, they can help you walk through the process.

But, you know, there's a lot of different kinds of accounts. You can have 401Ks. You could have a 401K at your work. You could have a 403B at his work. You could have SEPs. You can have individual IRAs at the same time as you've got all these others. There's a couple of them. There's one or two of them that overlap.

And each of them have a contribution limit that you can do. But the number of accounts, no, by and large, there's very little, if any, limitation on that. So good question. Ken Coleman, Ramsey Personality, my co-host today here on the air. This is The Ramsey Show. Have a friend or family member that needs a daily dose of Ramsey advice in their life? Let them know about the Ramsey Call of the Day podcast. It's a quick hit of advice about life and money in under 10 minutes.

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