The Ramsey Show - App - My Dad Doesn’t Take Care of My Siblings (Hour 2)

Episode Date: July 25, 2023

Dave Ramsey & Jade Warshaw answer your questions and discuss:   "My dad doesn't take care of my siblings," "Do cost-of-living raises make inflation worse?" "When can I afford to upgrade my car?" "How can I help my mom prepare to retire?" Support Our Sponsor: Neighborly Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Here's an EveryDollar deal just for our listeners: get a 14-day free trial PLUS $15 off your first year of premium. Click the link below and start budgeting today! Want a plan for your money? Find out where to start: https://bit.ly/3cEP4n6 Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Interested in advertising on The Ramsey Show? https://ter.li/s64ye3 Ramsey Solutions Privacy Policy

Live from the headquarters of Ramsey Solutions, broadcasting from the pods, 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. Thanks for hanging out with us. Jade Walshaw, Ramsey Personality, is my co-host today as we talk about your life and your money. Open phones at 888-825-5225.

Anne is in Albany, New York. Hi, Anne. Welcome to The Ramsey Show. Hi. Thank you so much for taking my call. I'm a little nervous here. No problem. Okay.

So just for a little context, my mom passed away six years ago, and I kind of took it upon myself to make sure that my youngest siblings were taken care of when it came to, like, meals, grocery shopping, or even just taking them out for fun and just things like that. How old are you? Right now I'm 28. Okay, so you were 22 when you started this program. And how old are your youngest siblings?

They were 11 and 15. Now they are, let me do the math real quick. So now they would be 17 and uh and 21 okay so they're almost they're almost grown they're almost grown and you kind of became a surrogate mom to them um in a way um i i did yeah um and i recently started really trying to get out of debt. So I'm in baby step number two and I paid off my car and I was, I found myself thinking I should sell it to pay the rest of my debt before, or I should sell things around my house and stuff like that. But then I realized I should probably stop doing these things for my youngest sibling,

my little sister right now. What are you doing that costs money? What are you doing with her that costs money? It's just mostly taking her out to your grocery shopping for her a lot. She's 17. Why is she grocery shopping? Is your dad not helping? He's there um he just works a lot or he he's married um and

she lives in Mexico so he's out of the country a lot as well he doesn't leave money for food um some he does sometimes there's not a lot so I guess I've been trying to figure out how to like talk to him about it and i always find myself not being able to just because i just feel bad i guess or i don't want my little sister to think that i think she's a burden for me no i don't want to help her that's not that's not you look it's you need to explain to your sister she's not the issue here but you going to your dad and saying hey dad, dad, part of the responsibility, you got to make sure there's money for food. You're leaving her for however many weeks on these trips.

She doesn't have enough to eat. You need to pony up some cash. So there's groceries in the house. Dad, I'll make sure there's groceries in the house, but you're going to pay for them. Yeah. You're the dad. Yeah. Now, you can be a little nicer than that i don't know because that's a solid message right there okay you know he's not

a bad guy he's just disorganized and he's got his eye on this woman in mexico and he's not paying attention okay am i right am i right yes okay then you just need to call him out hey dad you got a 17 year old up here a minor you're supposed to be caring for her needs i'm more than happy to make sure there's groceries in the house you're going to pay for them it's going to be 500 bucks a month you need to leave me 500 a month on my doorstep and i'll take care of the groceries will he do it if you ask if you ask him i don't know i'm hoping he will and see there that right there he might do it he might do it why don't you know what in his life has indicated he's not going to take care of his daughter um i feel like i've kind of had conversations like this in the past, not this firmly, but I've been like, hey, like,

your daughter needs this or that, and he'll be like, okay, I'll do it. And then he'll do it for like a week or two, and then. Then I'm calling him up and going, you remember that part where you said you were going to do it? Where's the freaking $500? You're supposed to take care of your daughter. Okay. That's like his job. Hello.

Why are you hedging about that? That's a basic thing. That's not a cultural issue. This is dad taking care of 17-year-old daughter. It's his job to leave money for food. I get that he's in a different stage of his life, and this is the last one getting ready to fly the nest. Great.

Got no problem with that, and I got no problem with you stepping up and helping, and that's nice of you to go do the grocery shopping, but for this to be a net cost to you is absurd. Well, he's made it seem like. Because you're too timid to get in his face a little bit. Yo, Dad, 500 bucks. That's how one of my daughters would do it. Yeah, but he's made it seem like them asking

for that basic stuff is a burden like i can hear that in your language am i right yeah it's not a burden it's not a burden i'm okay reminding him of his moral obligation here i'm perfectly okay if you want me to give me his number i'll'll call him. I mean, he needs to take care of a dadgum kid. I mean, this is pretty basic. And that's not a cultural thing. And that's not his wife died six years ago thing. This is a you have a 17 year old, sir. Take care of her.

Feed her. Put clothes on her. Buy her shoes. This is how life works. I mean, it's not hard on this, you know. I mean, and so, yeah, you don't need to be timid about this, Ann. And I don't know, you know, how you talk to him is how we talk to people here on the air. You start nice, and at the point it becomes ineffective, you turn up the directness and the volume.

That's right. And so we generally start nice with you folk when you call in here. But if you're not hearing it, we'll work on getting through to you. It's our job we love you and we're truth tellers and we're going to get through to you that just that just sticks in my crawd Dave like she as another one of the siblings should not have to continually be on dad to do dad things that makes me mad it does but I I'll give him I won't give him a pass on the thing but i can see how he could get there i mean he's kind of coasting off into the next chapter this is the last one to leave and ann's been picking up a lot of the emotional care she has and uh and so he's kind of moved on you know and it's like he forgot and all he needs is somebody to remind him i doubt

that he's really that bad a guy he's just he's a bit absent-minded in this transitional period in his life is all i'm saying and now again if you call him out and he's not consistently leaving money on the doorstep then i'm gonna call it i'm a little louder a little louder i'm getting inconsistent vibes from yeah that's what she well yeah and i don't know there's probably a lot going on here there's probably a lot i think so there's more probably more than meets the eye who knows he might be trying to get her to leave the nest yeah well and it you know she's going too soon so um that's how life works so wow ouch ouch ouch, ouch. But here's the thing. What's interesting is that the biggest problem that most people have with their money and the biggest asset that other people have with their money is your relationships.

Yes. Your family. Your immediate family, husband, wife, your little children, your grown children, your idiot aunt. I mean, whatever it is, these things intersect your pathway and mess with the math of wealth building. And the better you navigate this, the better chance you got of winning. So navigating relationships is part of wealth building. This is The Ramsey Show. Jade Walsh, our Ramsey personality, is my co-host today.

Open phones at 888-825-5225. You jump in, we'll talk about your life and your money. Jared is with us in Coeur d'Alene, Idaho. Hi, Jared. Welcome to the Ramsey Show. Hi, guys. Hey. I have a question regarding cost of living raises compared to inflation. I personally enjoy giving my customers the cheapest service available,

yet to keep up with inflation, we have to give raises. How do those two things mesh together? And is there anything we can do to battle the inflation as a business owner no not you know your job is not the macro economy your job is to run your business and that means take care of your family and the families that you pay that's your job the macro economy discussion is that when the cost of a loaf of bread, the cost of a service, the cost of a pack of hot dogs, whatever it is you want to call it, a gallon of gas, when the cost of that goes up,

one of the reasons the cost of the item has gone up to the consumer when you raise your prices in business is because their cost of goods has gone up if their cost of goods you know for instance if i make a uh if we print a book a total money makeover a baby steps millionaire's book well the cost of paper has gone up 30% in the last 24 months. All right. And so that's going to be built into my pricing on the next book that we put out. Agreed? Agreed. If the cost of that book includes a dock worker to do the shipping and a truck driver to deliver it,

and both of those people get paid more by me to bring me that book then now the cost of that book has gone up again the paper cost went up and the labor cost associated with delivering that went up and so anytime you pay people more inside your business you have to absorb that in price changes and so price increases are always not always but they they they're they have you have to do a price increase to stay open otherwise you're not profitable to cover your actual cost of goods and cost of labor and you don't have any margin you're in a business and when the cost of labor goes up due to cost of living raises or any other raises uh just a shortage of uh workers uh an example of that is um you know we told when america got fauci'd we told all of the service industry all the waiters and the people that make

your beds at the hotel and uh the people in the service world that they weren't essential. And we sent them home, told them they couldn't work. If you're a restaurant worker, you're not allowed to work. And in some places, we did that for a month. Other places, we did it for a year. When you tell people they're not essential and then you want them to come back, they remember how you pissed on them last time. And so guess what?

You want to hire somebody in the service world today? Pre-COVID, you might have done that for $10. Now you might be looking at $25 because there's a shortage of workers in those industries still to this day yeah post-covid and so uh you know the economic implications of covid are still shaking out you create a labor disruption and a labor price change uh and we've seen it in other areas of labor as well our cost of what we pay someone to work here at ramsey has changed in some of the areas pretty dramatically and some of the we do comp studies to see where they're charging so yeah then that

means that if I'm gonna uh be profitable I have to raise a price somewhere and so that person that buys that pays more and that's called inflation yeah you don't and you don't have to feel guilty about it. It's just part of it. But I mean, what he's pointing out, and I think it's good for people to hear out there, is when you're walking around with a little picket in your hand and you're saying, I demand $15, I demand $22, where I was making $10 10 to work at McDonald's then the cost of McDonald's goes up to cover your idea of you being worth more then you don't get to bitch about paying more for stuff

because you caused it that's what I'm talking that's what he's talking about and so you can't go I don't like the fact your fast food prices all went up. And yet you're walking around demanding that the cost of labor at a fast food place go almost freaking double. Yeah. And then and then can't fit, you know, of course, you know, it's all connected. Cosmo. I mean, that's why that's how it works, because these businesses are not are not evil and greedy but they also are not not for profit that's right they have to make a profit to stay open and oh by the way even non-profits are profitable a non-profit that isn't profitable

closes out of business it's out of business it's gone non-profit is not an not an actual dollar amount of they didn't make more than they spent. It's just an accounting entry and an IRS designation. But they actually, you know, your church has to take in more than it puts out. Otherwise, it closes. So non-profits are profitable. Hello. And so if the cost of electricity at your church goes up then there

you go i mean you're gonna you're gonna if the cost of staffing at your church goes up because you're competing in the marketplace for that creative position at the church that music director at the church you're competing with the marketplace then that you know it costs more to operate that organization and some organizations haven't survived that. That's right. So yeah, inflation includes cost of labor. And when you've had a labor disruption like the quarantines created, we haven't seen, we've seen most of the end of it, but we haven't seen the complete end of it yet.

It will calm down and smooth out eventually. But even a little three percent five percent cost living raise then gets built into the thing and you can't really in business i can't stand against that and go well i just refuse to raise my prices well you're gonna refuse to stay in business you know that's just kind of dumb so so the next book you buy from us get ready the price is gonna be more more. It's hello. You know, those $10 sales we run? Got to be $12.50.

They're about done. I'm just saying. We're about done with a $10 sale because a $10 sale is about backward. It's about upside down now, and I'm about done with it. So that was helpful for a while, but been doing them for 10 years, and, you know, cost of paper kicked my butt, and so I'm going to pass on the butt kicking. All right. That's how this works.

That's how it works, y'all. I mean, it's just, this is how it is. So if you think it's otherwise, then you're being naive. But it's interesting to me that we teach so little civics and so little economics today that people can't make a basic connection between. They don't know it's connected, Dave. I demand to be paid more, but then on the other hand, I'm going to bitch about inflation.

Yeah. No, I don't think people realize. When you freaking caused it. You're the essence of it. I mean, you know, I can't believe the cost of bread. Well, it cost about twice the labor to put the bread on the shelf now. That's right. That it did.

So, I mean, almost double. It's crazy. And you can't even get the help can't get people show up because they're sitting at home in their other's basement playing nintendo it's nuts so now we don't have that problem at ramsey because we're not dealing with that level of labor we're dealing with a high class you know generally here so we got a whole different whole different set of uh uh things that we deal with that are wonderful by and large but yeah it's a it's a great discussion jared and you know the problem was you pulled the string on the monkey so

you got you got the soapbox you got the soapbox response because i can go on for days about this but it is interesting how ignorant yeah you know some of this wealthy quality stuff is and all this stuff is just they're ignorant of connection, the unintended consequences of their little shallow ideas. Yeah, absolutely. And where they're going. I'm glad that he pulled the string. Yeah. Well, every so often, I have to get it out of my system.

We will look back in time and say, Fauci. Wow. Just wow. This is The Ramsey Show. Jade Walsh, our Ramsey personality, is my co-host today in the lobby of Ramsey Solutions. On the debt-free stage, Jordan and Kayla are with us. Hey, guys, how are you? Good, how are you?

Better than I deserve. Welcome. Where do y'all live? Mount Vernon, Ohio. Fun. Welcome to Nashville. Thank you. And how much debt have you two paid off? Together, since we got married, about $80,000. Total, about $107,000. Okay, so one of you started or both of you started before marriage. She started before me. Good. And how long did the $80,000 take Okay. So one of you started or both of you started before marriage. She started before me.

Good. And how long did the $80,000 take? How long have you been married? About 18 months. 18 months. Good for you. And how long before that were you working on it? I started in 2020, toward the beginning of 2020.

So three years. Three years total, yes, for me. Okay. All right. Good. And your range of income, let's just say since you've been married what'd you start at 18 months ago and what are you now i believe it was around 80 000 and now it's around 110 excellent good for you too what do you two do for a living jordan oh i'm uh maintenance at the

columbus zoo okay great what about you um so i started the journey as a reporter, and I got out of that toxic industry, and I now work for myself doing video marketing. So I get to share positive stories for businesses now instead of all the negative crap that you hear on the news. Very cool. It is a hard business. It's a steady diet of garbage. Especially 2020.

I was like, I'm done. And then I started listening to you. I was like, oh, he has so many good valid points like yeah it's just hard just really hard welcome welcome good to have you guys i'm proud of you okay so before you get married you're working on this stuff and so jordan y'all are dating and kayla goes hey we gotta have the talk yes did. Did that happen, really? Kind of. Okay, all right.

I'm just making this up. I didn't know. So originally, it was kind of like the Jesus talk first. I got that out of the way first. Are you a Christian? Do you believe in God? And I said, yes. And then she said, well, what do you think about this book?

And I was like, well, I don't know yet. So she gave it to me, and I read it, and I was like, got on the cover ain't much. I was like it makes sense yeah okay so i was like yeah i'm on board just like that it was easy i mean i read it and just what my grandparents did kind of common sense how's this guy making a living absolutely and i said let's go yeah i was out door dashing after i got off the news and he was like what are you why are you out delivering food and I was like well there's this plan that I'm on and then talked about the book and he just he's like yeah this makes sense there was no I didn't have to convince him or anything thankfully um I just came with like what 100 grand of debt and yeah if you're

not dumb you you read the book and you're just like yeah it makes sense so jordan you didn't have prior debt but only kayla did i had a little bit i had a car payment okay so you got after yours before the marriage yeah and and paid that off as well uh when we started talking so we started talking first you know and we started dating and then she gave me the book and she's like well okay you know there's a package deal yeah there wasn't that much left on my car payment i just i had it i had it saved already and i just well you wrote a check said okay i'm paying off and then i was free and clear yeah and then we started but if it was just that easy for everyone i know right i love that yeah got old door dash over here and jordan strokes a check yeah yeah so there we go for you yeah good for you must be good to be

you yeah all right very cool guys very cool so you found him and he starts acting like that and you go i think this one's a keeper oh yeah i knew right away when when he just was able to he was teachable like he humbled himself and he was like he got the book on his own i didn't tell him to go get it and he was like yeah this makes total sense and his own. I didn't tell him to go get it. And he was like, yeah, this makes total sense. And it just, we really haven't had any fights about money. Really? We take our frustrations out on each other through the plan. Oh, yeah, naturally.

No actual fights. We were in agreement, thankfully. Well, what's been the hardest part? I mean, obviously you read the book. It makes sense. But that doesn't make it easy, right? Just because it makes sense. So what was the hard part for you? None of it was easy um we lived in a camper for two years whoa yeah that

was that wow okay i'm looking at it on my screen of it it was it was run down um yeah so we lived in that for two years that was hard uh wow constant working making more than we'd ever made, but not, you know, immediately it goes out to our debt. Yeah. Wow. Now that you're completely free, how does it feel? I can't put into words how it feels. Like our whole future has changed.

I've changed just every single area of my life. We're bringing a child into the world without debt. That's not how I grew up at all so come on love that it's a complete change your family tree yes yes 100 yeah there you go you guys your baby's not going to even know what debt is until you teach them and you can teach them from a space of not having debt yeah as opposed to being smack dab in the middle of it yes i went through uh well my family went through bankruptcy as well when i was a child just you know losing our home divorce a lot of you know not so great things

you don't have to have that i don't have to have that life now it stops that's right that's right i'm so proud of you thank you way to go guys very very cool who was cheering you on as you were doing this my My wife. No. Other than the two of you. You're living in a camper. Somebody had to be hating on you. Me?

Yeah. I mean. No, I mean outside friends are going, what are you people doing? For the most part, yes. Like my friends and family, they were kind of like, what are you doing? I mean, my family, they kind of understood it, I would say, for the most part. Still thought we were crazy. I don't think they thought that we were going to be able to do it as long as we did. Like I said, a little over two years living in a camper.

Yeah. That's rough. Yeah. Friendsly was just kind of like not a whole lot of questions asked, I guess. They just kind of were like, all right, you're going to do what you're going to do. Good friends mind their own business. Absolutely. And, you know, we didn't have any conversations like that with my friends.

They were just kind of like, well, you're just doing it okay that's jordan there you go they didn't they didn't ask i didn't you know i'd tell them why i love you i love it how's it feel to be completely free it's a huge weight off your shoulders huge so i don't need to ask if it's worth it it's worth it yes way to go do it what do you tell people the main key to getting out of debt is? I had several. Definitely tithe. Follow God's word, and you will be blessed through this process. Don't skip out on the tithe.

Make that first priority. Amen. Humble yourself. If you don't know what you're doing, admit it and learn a different way. Don't be a victim. I don't care what you've been through in life. You can pull yourself up. You can make a change for yourself.

It's not the government's responsibility to pay off your debt. It's not anyone else's responsibility. You sign the papers. You pay it off yourself. And don't care what other people think. Come on, Kayla. We probably have one of the crappiest cars out there. If it cracks in the windshield, you just got to stop trying to impress people with material things it's uh as soon as you do that you're about to really build some wealth

yeah because most people that care what other people think never get there well done well done you too thank you very proud of you hey we've got the live and give box for you it's the baby steps millionaires book which is where you're on the way to for sure uh total money makeover book which started this whole discussion with you two and uh the financial peace university membership if you hadn't been through go ahead and go through it if you have and you want to give any of that away give it all the way use it yourself it's the live and give box we're we're proud of you guys thank you well done heroes that little baby man got some great parents. Very cool stuff. Jordan and Kayla, Mount Vernon, Ohio. $107,000 paid off.

$80,000 in the last 18 months since they've been married. Did that making $80,000 to $110,000. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! Yeah! Yeah! Woo-hoo-hoo-hoo!

So good. I love it. So good. I love it. There is nothing like a baby on the way or the birth of a baby to give you unbelievable motivation to get your crap together. I mean, and just the emotion that she had is valid, completely valid, going, this baby, as for me and my house. Come on. That's what I'm talking about.

As for me and my house, we're not going to be normal. Yeah. It stops here. It stops here. It doesn't matter where you come from. All that matters is where you're going to, Condoleezza Rice says. And she came from some interesting circumstances on to be one of the more impressive women in the world today. So Condi knows her stuff.

Doesn't matter where you're coming from. All that matters is where you're going to. We've all come from some stuff. Where are you going to? That's the next question. This is The Ramsey Show. Jade Walsh, our Ramsey personality, is my co-host today. Thank you for joining us. Melanie is in Seattle.

Hi, Melanie. Welcome to The Ramsey Show. Thank you so much for taking my call, Dave and Jade. I'm so excited to be talking to you both. You too. What's up? So I am wondering if this is the right time to upgrade my hoopty that I love so much, actually. I'm in Baby Step 3B.

Well, my husband and I were both in Baby Step 3B, currently saving up for a house. And I'm just wondering if I should take a little bit of that time to get a upgraded car. I learned about you in 2019. I actually had the flashy Mercedes and then I went and I was like, nope, cannot do this payment anymore. And I paid it off as fast as I can to get rid of that lease. And in the meantime, I was able to cash flow my first CRV and I actually paid cash for it. And so it's a little older. I do love it. I enjoy it, but I'm wondering if this is the right time to upgrade to a better one. What's it worth? It's worth $6,000. What's your household income? $116,000 a year.

And how much would you spend to upgrade it? I would spend about $15,000. So move to a $21,000 car. $20,000, yeah. $21,000, yeah. And how much do you have saved for your house? $50,000, yeah. Yeah. $21,000, yeah. And how much do you have saved for your house? $50,000. Okay. So this slows you down by $15,000, right?

Exactly, yeah. And I think we can recoup the money in like about six to seven months. Mm-hmm. Okay. And just to clarify, that $50,000, that is totally home money. There's none of your other savings locked into that, correct? That's correct. That's just home money.

Melanie, you've done a really good job. You're out of debt. You have an emergency fund. You have $50,000 saved for a down payment on a house. You make over $100,000 a year. I think you are more than capable of making this decision. I think it's a little bit emotional for me because of seeing what I went through with that lease, and I'm so happy that I found you.

Never again will you accidentally do a car deal. You will always be intentional for the rest of your life. Exactly. One thousand percent. That's good. I'm intentional with my car deals. And, you know, I and I don't even have to be now, but I am. I'm, you know, OK, this is you're charging me.

What? You know, no, I don't think so. You know, and so, you know, it's that kind of a thing. And this will be the first. This will probably be your most expensive cash purchase, right? Since all this crap. That's exactly the way it calls in, yes. Yeah, so that feels different.

I mean, when you're used to going in a place and financing, it's a different feeling. It's a good feeling, but it is also like, oh my goodness, I'm about to put $21,000 of cash on the, you know, on the table here. Yeah, it does. it definitely feels different. But let me tell you, when you get in that car, I mean, you did it with your CRV, just not to the tune of $21,000. But when you drive that thing home, you're going to feel so good. Yeah. My point earlier is that you've done such a good job. I want you to have confidence in you because you are valid. Your decision-making process, your critical thinking skills on this money stuff is really solid. So you're not going, everything you've given me tells me you're not going to make a bad decision. So I'm okay if you drive the hoop

to you a while, and I'm okay if you move up, and I'm okay if you move up a little bit, but not as much as you were thinking. I'm okay with any of those three ideas. Because I'm okay with Melanie, and I think you're going to do really well. I think you're going to make a good decision. Don't you? I definitely do. I'm so proud of her. So many people, Dave, that's the mental block that a lot of people struggle with is, wait a second.

Buying a car in cash? They'll go with you on the idea of paying off your existing car. They'll walk with us on that. But then this idea of I can actually then save to upgrade and buy something outright in cash, that is a whole different mind shift that takes place. Yeah, my oldest child, Denise, when I was teaching her to ride a bicycle, she just trusted me. She said, if that's what I can do, I can do it.

Rachel, however, questions everything. And so sometimes when we tell people they can pay cash for a car, it's like Rachel looked at me when I said, I'm going to let go of the seat. You're going to balance. And she's like, say you. Right. You say what? You know.

Dave. Because she had never done it. Yeah. And then once she did it, it wasn't a thing. But until she had done it, there wasn't anybody else talking it that was going to trust it. Look, full disclosure, when I first read Total Money Makeover, I'm like, okay, like, Dave, I'm on board with this. The two things that I was like, I don't know, Dave, was the car and cash.

And then your credit score will drop to zero when you've paid off all your debt and you'll be able to get a home. You have a minor heart attack thinking about which tells us that we think that we're art we're worshiping at the altar of the great fighter yeah who's your provider but you just got to walk it through and then you see you start to go oh he was right there it is ed's in spokane washington hi ed how are you i'm great how are you guys doing better Better than we deserve. What's up? Thanks for your call. My family is a huge fan of the YouTube show. It's our dinner show of choice.

Wow. Thank you for putting it out there. Dave and Jade for dinner. What's for dinner, Ed? Dinner theater. Barbecue. My question for you is actually about my mother-in-law. She's 85 years old, and she's had some medical setbacks this year and basically the family and her have decided to basically sell her property and move her into a

senior living area. The concern is she makes $2,100 in social security but the apartment is $2,600 and that's like the minimum cost, right? So obviously if more cares need in the future, there will have to be... what's the property selling for she should net a little over 300 000 okay and um so the question is with the interest rates where they are is a cd ladder a good place to put the money so to help her cash flow you know that's her nest egg that's 300 000 it's her nest egg she has very little it is a tiny ira and a tiny bit in savings like 10 000 i need her to probably do better than that um you know because i i you know she she only needs six thousand dollars a year off of this and she's 82 so the chances are even if she got zero interest

the chances of her burning all the way through it before she dies is almost zero. Right. $500 a month is a negative right now, right? Correct. Yeah, $2,500. Now, she likes to give to charities as well, and that's kind of the family. Right now, she's the charity. I try to tell her that. First charity is Meemaw, yeah. Okay.

And once Meemaw is taken care of, only the strong can help the weak. Understood. I didn't let my toddler carry my newborn so you got to have the strength to carry people and right now she's got to make sure she takes care of her that's her first responsibility take care of your own household first so yeah i'm as long as we get all that straight you can invest it however you want i would would sit down with a good – with her, is her mind good and clear? For the most part, yes. Okay. I would sit down with a good smart investor pro and talk to them about a fee. You know, if you want to do some high-interest savings as part of it,

I would probably end up investing some of it. Because here's the thing. If you could make 8% on on it that's two thousand dollars a month and it lasts forever that's not touching the principle right okay that's what i'm looking at and you know it but if you make if you make nothing on it i mean divide six thousand into three hundred thousand that's a long. It's longer than she lives. So you're not going to mess this up unless you go put it in crypto or something, right? I mean, which you're not going to do.

You're not stupid. Okay. So the other concern is, you know, she didn't have Medicare gap insurance. And so with these setbacks this year, she's had to pay a lot out of pocket. So that's kind of our concern. Yeah. That's kind of mine. I'm kind of thinking an extra $2,000 on top of her $2,100 gives us $4,100.

And, you know, we've got a little cushion here to do some other stuff with, have a little bit of a life in addition to paying the bills. Okay. And, you know, you're probably going to have to pick up some medical stuff here or there. You're probably going to pick up some personal care and comfort, creature comforts and stuff as we go along. But, I mean, statistically, I think we can all agree an 82-year-old that lives to 92 would be a long time. That's right. And I think if you look at the actuarial tables, that's what you'll see.

I know we're talking about your wife, mother, grandmother. I don't want to be mean, but, I mean, so 10 into 300 is 30 a year. Yeah. And so you're okay. You just need to be careful. You don't have to be super aggressive and you don't have to be super lame. This is The Ramsey Show. Dave here. You can find all of our shows with the Ramsey Network app on your smartphone.

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