The Ramsey Show - App - My Husband Is Hiding Cash in a Secret Bank Account (Hour 3)

Episode Date: November 5, 2021

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Thank you. 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. I'm Dave Ramsey, your host. Thank you for joining us. Dr. John Deloney, Ramsey personality, is my co-host today. He's host of the Dr. John Deloney Show, and you can participate in that show online as a podcast whenever you like. Be sure and do that, and you can call us right now at 888-825-5225.

The Dr. John Deloney Show is all about mental health, all about anxiety, all about relationships and boundaries and dealing with crazy relatives. And, well, everybody's got those. And if you think you don't have one, that means you're it. It's you. So there you go. Anyway, that means you're it. It's you. So there you go. Anyway, that's where it works. So anyways, hey, we all deal with life and people, and that's why his show is so informative, inspiring, and downright entertaining.

All right, Scott's with us. Scott's in Phoenix, Arizona. Hey, Scott, what's up in your world? All good things. I'm glad, sir. how can we help today yeah uh well my wife and i were wondering we want to shut down uh any access to our credit because we're we're debt free and we don't want to apply for credit and we don't want anybody to apply for credit under our names and how do we go about doing that? You freeze your credit.

And it's usually a small fee, 20 bucks or something, and you can freeze it. There are three credit bureau reporting agencies, and you need to freeze it with all of them. TRW, TransUnion, and Experian. And that's the three. I have frozen all of ours, and we froze all of our children's when they were children. To my knowledge, they have not unfrozen them for any reason because they don't borrow money either. Anytime you want your credit checked, it cannot be checked. You would have to pay another fee to unfreeze it temporarily, let it be checked, and then freeze it again. All right.

No one can look at your credit, and your credit cannot be sold to anyone because these credit bureau reports sell your name. That's where you get a lot of this crap in the mail. They don't sell your details but they you can buy i can go to experience and i can buy uh people that fit a certain uh demographic outline of income or credit type or whatever and i can buy i can buy blocks of those to market to you if I want. You're off of that if you freeze your credit because no one can access it. Now, it does not keep you from having your identity stolen. Let me give you an example.

Let's pretend that some dube gets your social security number through one of the nine million different hacks that have happened out there and people got you know all of targets information all of whoever's information they end up somehow with your social security number and they take your social security number and they apply for a visa at bank of amer. The big banks, when they're approving a credit card application, only check the credit on two out of ten apps. They automatically approve the other eight. And so if you're one of those eight and they don't even check your credit, then the thief can open an account in your name,

and all of a sudden it's an identity theft situation. You're not liable for the debt because it's a fraudulent transaction, but it's a hassle to get out of, and that's why we recommend Zander Insurance Identity Theft, and I carry that on myself, my kids, and all of my employees. I furnish it as an employee benefit because of this kind of stuff that's out there and so these idiot banks will actually open an account and loan people money without even pulling the credit bureau report because on average they come out it works out for them, but it's just... It doesn't work out for you. It doesn't work out for you.

So, in other words, if they come to your frozen account and check it, they'll go, oh, ding, ding, it's frozen, this must be fraudulent, and they will reject the application. So if whoever the lender is that someone's trying to steal your identity with checks your credit that that thief would be denied and so it does help with identity theft but it does not prevent it because sometimes they don't even bother to check the bureau and that's what you're getting into so yeah you can freeze it and that's what i did and you can get xander insurance uh

identity theft protection and that's what i did and the reason get zander insurance uh identity theft protection and that's what i did and the reason we have endorsed zander insurance's version all these years is because the big thing about identity theft is not that you owe money it's that it takes you 600 hours on average to clean up your account after your identity's been stolen because you have to go talk to bank of america and go no that wasn't me oh, you just don't want to pay your bill. No, it wasn't me. Oh, we'll transfer you to the Fraud Victim Department, and then we'll have to get a police report,

and then I have to sign notarized statements, and I have to do all this crap to not pay a bill that I didn't even take out and was fraudulently taken out in my name because you people are doofuses and issued credit without even checking the credit bureau report. It's like somehow I get the brunt of that. But that's what identity theft does to you. It steals your time.

Because you don't owe the money when someone steals your identity. You didn't borrow the money. It's fraudulent transaction. You're not liable for fraud. But you have to go clean it all up. And Zander Protection assigns a counselor to you, and they go do all that work. Oh, wow. And it gets done a lot more efficiently than me calling and arguing with some idiot on the phone at Citibank.

And by the way, that's what you get on the phone at Citibank. If I'm an hourly employee, it is going to cost me money, right? I'm going to have to sit there and take some time. I can't just... Well, it costs me money because it takes years off my life. And you only have a few life. Oh, man. And you only have a few of those left, man. Yeah, I know. I'm right at the end here.

I'm right at the end. And so anything that causes me to lose more hair is valuable to me. We are counting hairs, man. Shut up, John. Shut up, John. Old person jokes, John. I mean, really. You are really... This is... You're above that. You really are. I'm not above really you are really this is you're above that you

really are no maybe maybe maybe you're not maybe you're not i mean i'm just i could be wrong but i mean yeah because it just you know talking to somebody on in a cubicle in new york at city bank or god help you in some other country where they've outsourced it or making a police report to an overtaxed police department. Yeah, like they ain't got anything to do. Jeez Louise. You know, they're not worried about like real crime. Listen, I got $700 opened up in my name at Citibank.

I need a police report. Right. And they're like, we're kind of busy right now. We have real criminals out here. No, that's a real criminal. Well, it's $700. But I had never thought of freezing my kids' accounts. I'm going to do that this week.

There you go. It's a great idea. There you go. You may have to get a court-ordered guardianship. Man, I dare him. I dare him. Man, I dare him.

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Text CASH to 33789. Dr. John Deloney, Ramsey Personality, is my co-host today. Open phones at 888-825-5225. When it comes to making big money or life moves, like buying a home or getting married or having a baby, it's likely the last thing on your mind to make sure you have the right insurance coverage. I get it. Big changes have a lot of details. But what would be even more overwhelming is to find yourself in a situation where you or your family are in the hole because you were not covered.

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Hi, Rodney. How are you? Good. And yourself? Better than I deserve. What's up? Hey. Just recently been listening to you.

Got a couple questions on where I'm at with my job being a union member we have what um you know everyone knows is a pension and we also have an annuity and i've been in the trade for seven years now um they send us statements now listening to you i'm kind of picking apart when my statement comes on what they're investing our money into good um kind of break kind of picking apart when my statement comes on what they're investing our money into. Good. Kind of to break it down, you recommend 15%. Last year alone, I made like $111,000, so a little over $15,000 a year. And the hours worked last year out of our package. They take $6.50 an hour, put it into that annuity. And I'm getting pretty close to that 15%. Now, do you count that as my 15%? Do I need

to go out and start anything else? Cause I have my pension, which we have a great pension and the annuity. I'm just wondering where I should go from there. And I also looked on the statements. They have things like, you know, they put some of our money into bonds, but they have like the mid cap, good girls stocks and everything you talk about, but they also give you the option on this website that we can change what we'd like. And I'm wondering if I find like a, you know, a smart investor pro and he gets inside my annuity, can he break that down into just strictly the mutual funds alone?

Is that something that's possible? So let me make sure I understand exactly. I think I do, but let me make sure. Your pension, of course, you're putting nothing in. They're funding that. Your annuity is coming out of your check. You are putting it in, but it's mandatory. Yes, sir.

Okay. And it amounts to almost 15%, and you have choices in there that you can do. And so that's much like a person in corporate America having a 401K. All right? And so only you have a mandatory money that you're putting in. Do they match the annuity as well, or they just do the pension? Just pension. Perfect. Okay. Does the annuity as well, or they just do the pension? Just pension. Perfect.

Okay. Does the annuity have the option of being a Roth? I have not asked. Okay. So first thing I want to do is find out if it's a Roth, and then the next thing, you can get in touch with a SmartVestor Pro. They make their money, the SmartVestor Pros, when they sell you a mutual fund and put it into, like, your Roth IRA or do a 401k rollover or something like that.

So helping you pick your annuity over at the union makes them zero. They might do it anyway as a favor because you're a Dave Ramsey listener. So you could ask one of them. They probably would do it just so they could help your wife or help your kids or your grandpa or whatever later, that kind of a thing. But they're not actually going to make money on grandpa or whatever later, that kind of a thing. But they're not actually going to make money on that transaction. Obviously, that's a union transaction. But they might do it.

So let's kind of talk through for a second, though. You said mid-cap. I'm guessing they have mid-cap. They have small cap. They have bonds. They probably have large cap or something like that. Does that sound right? You nailed it. You bet.

Okay. Well, let's talk through and I'll explain to you what they are. And you can put percentages in each one, correct? Yes, I can. Okay. We teach people to put money in four types of mutual funds, growth, growth and income, aggressive growth, and international. And let's just have a little class here on what this stuff is,

because it's good for the listeners all across America to hear while I'm talking to you, okay? Okay. So, CAP means capitalization. It means the money the company has. Large CAP is big companies, huge, big dinosaur companies. If you were to look in that large CAP fund you would see names like alcoa general motors big old honking dinosaurs that move slow and are predictable and steady okay small cap is quite the opposite it's the rowdy kids all right it's the brand new startups the

tech boys some of the health care startup things. The companies haven't been around a long time. It's going to make a lot more money but lose a lot more money. It's going to be wild child of the mix. You follow me? Yes. Because they're the small companies. They're brand-new, so they're more volatile.

Or they're just rowdy, whatever. I mean, they could be in a rowdy industry, whatever. They're volatile. Midcap, guess what? That's Goldilocks. That's right in the middle, the porridge that's just right. Okay? And so that's kind of, you know, that's like your Home Depot or McDonald's or, you know, I don't know.

You might find Facebook in there. You might find some stuff like that. Those are big companies, but they're not old, stodgy companies. They still have some life to them. They're still kind of in the middle. It's like the young kid that's wild, the middle-ager, and the older guy kind of thing, almost, in terms of their behavior and their risk patterns. And so your large cap is much like a growth and income that I'm telling you. Your

mid cap is much like a traditional growth fund. Your small cap is much like an aggressive growth fund. Do you have anything that sounds like international or foreign? Yes, those are on there as well. They have, they list, you know, I've heard you run through them and, you know, quite a few of your YouTubes and I looked looked on my sheet, and those are all on there, but they're not split exactly 25%, 25%, 25%, 25%. Okay. Is the large cap a group of funds or one fund that is large cap? It'd be a group.

There's multiple. Okay. So you have to pick, like, one whole thing and be in that.'s multiple okay so you're you have to pick like one whole thing and be in that is that what they're telling you um you know i don't i wish i had that it's okay i'm just i'm just i'm trying to yeah it's it sounds like if if like mid cap is like 10 different funds in there i just and you have to pick one of them i'd pick that one okay because because it's right down the middle, okay? And it spreads it across those 10 funds and just forget it, all right?

That's like buying an S&P 500 fund. It's an index fund almost. Yeah, I like buying an index fund. I wouldn't want you in the wild child with everything. I'd love to have some over in there, though. So if you could put 25 large cap, 25 small cap, 25 mid cap, and 25 international, that would give you the mix we're talking about, and I think we're done for the day.

You know, I mean, that's going to get you there. But I'm not sure that that's what they're allowing you to do here. I can't tell whether they're grouping these things. If you pick a single fund out of the large cap, pick the best one, the one that's got the best track record over 10 or more years. Do a single fund out of the mid cap, pick the best one, the one that's got the best track record over 10 to 25 years same thing in the small same thing the international and you put those four funds together out of those four different categories

now you've got a portfolio like we talk about like i personally do with my 401k john does too here at our company and so but that that's these these names tell you what they are. So teach me what an annuity is. I hear that a lot. An annuity is technically an insurance company product, savings account with an insurance company. Okay. This is a variable annuity that's funded with mutual funds. Okay.

A fixed annuity is a, it sucks. A fixed annuity is like a CD, but at an insurance company. It's going to pay 2%, 3%. And they're going to take the gap. But the annuity wraps around the money and keeps it warm from taxes like being in a 401k does. So it's just a different product under a different bank. Exactly. But inside of a variable annuity, you can have all these different options we've been talking about.

Okay. And so it sounds like they've got a fairly good offering. It's a broad offering. Yeah. If you can just weed through the weeds and figure out what to do with it. So, yeah, you can check a SmartVestor Pro. One of them will probably help you walk through it and knock this down. But that's the general ideas of how you get at this, Rodney.

Thanks for being a listener. Thank you. In the lobby of Ramsey Solutions, on the debt-free stage, Juan and Ana Maria are with us. Hey, guys. How are you? Hi. Hi. How are you? Welcome.

Welcome. Where do you guys live? Cartersville, Georgia. All right. A little north of Atlanta. All right. Welcome to Nashville. And all the way up here to do a debt-free scream.

How much have you paid off? We pay $91,898 in two years and two months. Wow. Good for you. I love it. And your range of income during that two years? We start at $75,000, and right now we are in $152,000. At $152,000.

Great. What do you guys do for a living? I'm a videographer. And I am a technical director for a dietary supplement company. Wonderful. Good for you guys. Well, congratulations. What kind of debt was the 92,000?

Me? Yeah. It was a ton of stuff. It was three credit cards. It was a personal loan and medical bills and student loans. Okay. Wow. Okay. How long have you guys been married? Five years. All right. So what happened halfway into the marriage, two years ago, two months ago, you looked down and you went, ah!

Yeah. Me? Yeah. Me? Yeah. Okay, so I had an emergency surgery where we were told that we were going to have to do fertility treatments in order to start our family. We kind of freaked out, and of course I had done my master's and I had finished that up, and we had student loans and we had that grace period, so I was like, eh, we can pay it off later. But when we started figuring out fertility treatments and IVF and all these things, I kind of freaked out and I said, we have to do it, we have to do it, we have to do it.

And we kind of, at the time, we didn't have the income that we have now. And we were kind of struggling with him being in a couple of jobs and not one uh specific job so we were just basically living off of my salary and i decided let's just do it it doesn't matter we'll get into this 35 000 loan whatever interest rate it doesn't matter we'll just have to do it. Um, I was listening to you at the time and, uh, I'm not going to cry. I told myself I wasn't going to cry. And, uh, um, I was listening to you at the time and I remember, um, you know, you saying, well, save up for certain things that you want to do. But I was like, eh, you know, I kind of

shut you out for a little bit and I didn't want to listen to it anymore. Um, but we actually went through the IVF treatment and it didn't work. And I remember just being so devastated that it hadn't worked. And now we were sitting there having to pay every month, a $900, uh, monthly payment. That was just a monthly reminder that it hadn't worked. Wow. That's amazing. That's so hard. Yeah.

You're doing good. Wow. Yeah. Wow. So I told him I want to get rid of this loan because it's just a monthly reminder of how bad things were for us. If you can't tell by his accent.

We are from Colombia. I moved here five years ago. I thought East Tennessee for sure. I was way off. Yeah, I don't look like a Colombian. It's different. It has been difficult, of course but um hard work and

um know that everything will be better and working hard as a team because we are a team so yeah so anna maria 35 000 of the 92 was the ivf okay and so just the weight of that emotionally made you guys go yeah we got to pounce on this i have to get this out of my face it's driving me nuts exactly we were not gazelle intense after that monthly payment started kicking in and i told him i don't want to think about this every month it's just and i think um after that i started again listening to your show and just reading again and making our budget and doing all these things. And then in one of your shows, I don't remember if it was you or somebody else, but you said,

you know, if you're doing IVF, go for it. Stop whatever else you're doing, but make sure you save up and you pay cash so that you don't have that monthly reminder in case it didn't work that it didn't. And I was like, yep. And whenever I go and step on that stage and tell people about how we're debt-free, I'm going to tell them, definitely pay it right up front. Don't do loans. It's a horrible reminder, but we're here. There's so much drama involved in the whole process anyway.

Yeah. And on top of that, you're waiting and you're waiting and you're waiting to take, you know, and then the disappointment and the stuff. And then you add to that the slap in the face of the debt payment. It's just too much. Yeah, it was definitely a lot. And then, you know, the student loans for the master's degree. I mean, it's gotten me where I am today career-wise, but I could have definitely taken a different route for that. But you're how old?

I'm 32. I just turned 32 last week. Well, happy birthday. Thank you. So you've got plenty of time. Yeah. Plenty of time for this all to work out, and it will for sure. So then you jump on this with both feet at this point,

and you go, okay, we're going to actually do this Ramsey stuff. We're actually going to go gazelle intense, and we're not going to do anything, and we're getting this whole thing paid off. And two years and two months later, you're done. Proof that when you do lean in on it, it goes. Yeah. Yeah.

I'm proud of you guys. Thank you. So proud of you guys. How does it feel to be free? Good. Amazing. Yeah. Well done. proud of you guys thank you so proud of you guys how's it feel to be free good amazing yeah well done have you had your first month where you've got no bills and that 150 000 has just deposited itself yeah so what we did is we got married and since basically we met in columbia i brought him

here we got married while he was doing his whole immigration status change. I was basically taking care of the house. And we didn't have a big wedding, and we didn't have a honeymoon. So as soon as we paid it off, we scheduled our little honeymoon to Cancun. Oh, very good. And so it was nice to kind of know that it was already paid for. We had nothing to worry about. And we didn't have to worry about coming home to all these bills and anything love it that's so good that's so good you deserve a celebration that's peace yeah that's neat yeah that's incredible good for you guys

thank you thank you what do you tell people the key to getting out of debt is teamwork yeah work hard and know that you have that reward on the end of your journey for sure it pays off it pays off it may look like you're not ever getting there and reminder i wanted to send him back to Colombia so many times. It stopped in March too. It was, it was. But definitely now we get to enjoy each other. We sit at home and we watch our soap operas, our telenovelas in Spanish. And we just enjoy it. We enjoy it and we enjoy our fur baby and our nephews and everything.

It's so nice to just... We are able to help, and that's huge. That's huge for us. It's huge for me and for him too, but that's rewarding for me is just knowing that you can help others after you're done with your journey. Well, you're not done. You're 32, but you got this part of it done. You got, you're not done. You're 32. But you got this part of it done. You got this part of it done.

And there's a lot of upside, a lot of wonderful things are going to happen in the next decade of your lives. It's going to be absolutely amazing, I predict. So proud of y'all. Well done.

Very, very well done. Very powerful. Wow. 90, well, we've got a copy of The Legacy Journey for you, because, of course, that is the next chapter in your own story for sure, is the legacy that you're building. And a copy of the total money makeover for you to give away and get somebody started. So Juan and Anna Marie from Cartersville, Georgia, the Atlanta area, $92,000 paid off.

Two years, two months, making $75,000 all the way to now $152,000. What a powerful story. Incredible. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! We're debt-free! They are fun Oh my gosh

That's wonderful That East Tennessee accent coming through What a couple What an incredible couple I love it This is the Ramsey Show. Our scripture of the day, Zechariah 4.10 Do not despise these small beginnings For the Lord rejoices to see the work begin

Francis of Assisi said Start by doing what's necessary, then do what's possible, and suddenly you are doing the impossible. For the Lord rejoices to see the work begin. Sometimes you cannot see the end when you start, but you need to start anyway that's what we're saying just start just start you know how you become a writer you're right start writing i don't know what to do an exercise program just start do it anyway just start our question of the day comes from blinds.com they have a 100 satisfaction guarantee means even if you mismeasure or you pick the wrong color, they will remake your window 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. All right, today's question comes from Ginger in California. She writes, my husband refuses to deposit his whole check in our joint account and hides money in a separate account. He deposits only enough to cover our expenses, then turns around and withdraws large amounts later. He's a good father.

Horsecrap. Don't want to ruin my kid's life if we divorce. That's it. So, number one, he's not a good father. Number two, he's ruining your kids' lives. Not you being forced to do something about this. So there's not really a question here, Dave. This is more of a statement.

Yeah, your husband is a twerp. He is not husband material. He is not father material. He is a self-centered little child. Yes. And he's doing just enough to keep his kids fed and you fed. But he's a manipulative, power-hungry idiot. And then he doesn't even care about y'all being fed later on

because he'll go get the money back. Yeah. So what does she do from here um sits with a counselor absolutely and then she's the fact that she said i don't want to ruin my kids lives if we divorce tells me two things number one she's thought about it or number two the people in her life have said you're this is over and so she has built this up as i'm not going there and so i have met with people who have said i won't do that and to which you say okay then this is the bed you're choosing to be in you're

gonna have to make the best of what you got inside of here i'm gonna tell her this type of manipulation usually comes with violence and or volume and or other types of neglect and manipulation beyond just the money. This is a symptom, right? And she's got to sit with a counselor and begin to create a or what plan because this is a mess. And it's to give you the strength, the assurance that you're not crazy. Correct. Or wrong. Correct. Or wrong. Correct.

And the words, the narrative on how to calmly lay down what will eventually become an ultimatum. Right. Or what. Yeah. Yeah. And you're going to say you're either going to provide for this family by putting your whole check in the thing, and we're all going to work together, or we're going to talk about how we're ending this marriage because I'm not going to live like this anymore.

And these kids are not going to be raised with you as a model for what a husband and a father and a provider looks like. Yeah, because you're damaging your children by allowing them to think he's a good father. Yes. You're throwing gasoline on a legacy forest fire. Yeah, because they're going to duplicate what he does. Times ten.

Yeah. Right. Yeah. And to the extent he's yelling at you, then they're going to yell and hit. And to the extent that the mother of your children is simply an annoyance and in the way of whatever thing you need to buy whatever event you need to attend that's how they're going to treat romantic partners for the rest of their life yeah and you're just you're painting a model here's what that looks like yeah my life is more important than all of y'all's combined my wants and toys and fun and stuff yeah the opposite of

this is we often tell people what is the best thing you can do for your children? Love their mother well. That's it. When somebody says, hey... That's the exact opposite of this whole thing. How do I help my kid with...

How do I screw my kids up? Mistreat their mother. That's exactly right. Hey, my kid's got anxiety. What do I do? Fix your marriage. Hey, my kids are struggling with X, Y, Z.

Fix your marriage. Have a great marriage. Start there and then we'll start talking about the other stuff. Yeah. Yeah. I'm sorry, Ginger. I'm sorry.

It's a horrible thing you're in. There's not even a question here. It's a horrible thing you're in, but the – if, you know, what we're seeing, you know, with what you – the information you gave us was not throwing your husband under the bus if it was truthful and it is accurate, and then you are sitting in a mess and you need to do something about it. That's what we're saying. And you probably are going to need some help to do something about it. Very few people can navigate these things by themselves.

You need someone to give you language to it and someone to say, look, what you're feeling in your heart that this is wrong and you're being mistreated is correct. It's accurate. It's accurate because you start to feel like you're the problem and you're not the problem. It's almost a domestic abuse thing. And look at what she says. I don't want to be the one who ruins my kids' lives by taking care of me and my children.

You know what? He has said that to her. Absolutely. If you leave me, you'll destroy these kids. If you don't quit yelling at me about the money, you're going to mess these kids up. And she says, oh, my gosh, I'm so sorry. I'm so sorry. Yeah.

It's got the same tone of a domestic violence. That's why you said violence, yeah. Ryan is there. Ryan's in Louisville, Kentucky. Hey, Ryan, how are you? Hey, gentlemen. Thank you so much for taking my call. I truly appreciate it.

Sure. How can we help well um first off i just wanted to say thanks to your guys program uh my wife and i we paid off 160 000 worth of debt and debt free in 2018 so yeah that was awesome and um i guess now we're sitting at uh what would be baby step six but we're are on active duty military and we rent everywhere we go good and and so i want to be saving so that when i do retire um you know we can pay cash for a house. So, one, can I save above the 15%? Yes. And two, if I can, where should, you know, what type of account should I be putting that into?

Yeah, your baby step six just goes in a separate mutual fund, and you nickname that the house fund, and you pretend like you're paying off a $200,000 house, and you try to get $200,000 in there. Okay. Okay. So, one of the things that I'm looking at is I'll get promoted later on this year. So I'm going to get a little over a thousand dollar pay bump per month. And so I just don't

know how much of that, I guess, should I be... Well, you should... No, out of your budget, your own baby steps four, five, and six, you should be putting 15% of your income, whatever your income is, into retirement. Maybe step four. Five is kids' college. Do you have kids going to college? They're all taken care of. GI Bill got it? GI Bill and then some are just in the military themselves.

Oh, okay. Wonderful. Okay. So check that box, right? And so then you say, all right, everything above 15% goes towards paying off the house early. Only we don't have a house. So we are building a pay cash for the house fund. So you basically have a mortgage line, right?

Which is the exact same math. Yeah. So you throw everything in that other mutual fund and maybe step six, above 15% of your household income going into retirement. So, in other words, if you get a raise of $1,000, you're going to raise your retirement by $150, and that gives you another $850 to throw towards this get-out-of-debt house fund. Okay. And I just want you to pile up cash fast and furious like you were trying to pay off a house. Exactly.

And the average person pays off their home in seven to eight years doing our plan and so seven to eight years from now i want you to have enough in there to pay cash for a house okay be the same same exact math it's just you're getting the benefit of the money instead of the mortgage company okay yeah it'll work for you instead of paying that interest out that's excellent man yeah very well done sir and again thank you for serving your country. Yeah. We really, really, really appreciate that. And yeah, when you move around every two years because they move you and most of the housing is in a military community where it's tough to sell a house, you can get really stuck if you start buying properties everywhere you go.

So we tell folks if you're moving every two years for any reason, but particularly in the military, don't buy. Just rent. So he was following that advice. But this gave him a leg up on how to offset the situation there. Nothing cooler than getting out of the military and writing a check for your home, right? That would be pretty neat. That would be pretty neat.

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