The Ramsey Show - App - My In-Laws Are Pressuring Us To Share an Inheritance (Hour 3)

Episode Date: June 16, 2022

  Dave Ramsey & George Kamel discuss: Waiting on the government to forgive your student loans, Investing in a TSP, The value of a dollar with Former Ambassador Nikki Haley, Should an inheritance be split fairly among siblings. Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6

Live from the headquarters of Ramsey Solutions, 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. We help people build wealth, do work that they love, and create actual amazing relationships. Thank you people build wealth, do work that they love, and create actual amazing relationships. Thank you for joining us, America. George Campbell Ramsey Personality is my co-host. Open phones at 888-825-5225. Will is in Tallahassee. Hi, Will. How are you? Hey, Dave. I'm doing fine. How about yourself? Better than I deserve, sir. What's up in your world?

So me and my wife are wanting to buy a house, but we've got about $30,000 in debt right now. $18,000 is in student loans, and then $12,000 is in a new car, 0% interest loan. And we don't want to add to our debt, but my question is, with the government talking about maybe some student loan forgiveness, even though I don't agree with it, would we be better off saving money instead of paying on the student loans right now, or should we go ahead and start paying on those loans? Yeah, I'm going to go ahead and start paying. And not because I agree or disagree,

because I want you to control your life and have agency over it, which you have. And, you know, the 0% car loan, which you mentioned, I mean, that's where student loans are at. And you don't want to keep the car loan around, do you? No, I mean, we don't want either one. Oh, you answered your own question. So I'm going to attack this using the debt snowball method. So list all your debts, smallest to largest. If the loans are split out, just list them all out there and attack the smallest one first. Make minimum payments on the rest. And that's going to be your fastest way to see progress on this debt and get to that house eventually. So, Will, here's the thing. Okay. If you just, all politics aside, let's look at the actual facts of what has gone down,

and it helps you analyze this, okay? The government talking about forgiving the student loans as a vague general statement is not the way you should view this. What you want to watch is this, and so this is fairly easy to predict. Here's what's happening, okay? When President Joe Biden was running for president, one of the things he talked about the whole time was when he got to office to forgive student loans. You remember that?

Yes, sir. He's been in office two years. Have they done anything towards forgiving student loans? Actually done. I'm not talking about talk. I'm talking about actually, has there been any legislation introduced, any executive orders?

Has he done anything? Answer, no. No, sir. Okay. Now, he's in trouble politically right now because the economy is going down. The economy will get you thrown out of office faster than anything else and all those people with the same letter after their name is

yours so anybody's got a d right now is in trouble when it comes to the fall okay this is just facts it's not political analysis it's just common sense so 100 chance that he's going to start talking very loudly about giving about forgiving student loans between now and October. 100% chance he's going to announce something that sounds good, but when you read the details, it's going to be nothing. It's going to be complete political fluff, and it'll be somewhere in the month of September, because he's got to do something to try to prop up the Democrats as they go into the fall elections because they're going to get slaughtered based on this economy right okay in other words it's all bs it's all political bs and i'm old okay 100 of the good things that have happened to me, none of them came from Washington, D.C.

in my entire life. If you're waiting to have a good life on something that comes from the White House, you're going to have a life that sucks. So you should just go ahead and fix your own life. George said it a different way. He said take agency over your own life george said it a different way he said take agency over your own life you take control plus as you said all three of us are saying well you me and george you signed the paper you owe the money you ought to pay the bill there's a moral component to this

too okay and so roll up your sleeves young man get your car paid off get your student loan paid off and go get you some money and buy a house and prosper. We want you to do that. I want you to go through Financial Peace University, and we're going to teach you how to handle money. And I'm going to pay for it. I'm going to give it to you for free. Hold on. I like you.

Austin's going to pick up, and we're going to help you do all of this. Good stuff. Speaking of Austin, there's another one on the phone. Fredericksburg, Virginia, Austin is calling. Hi, Austin. How are you? I'm doing fine. How are you doing, Mr. Austin is calling. Hi, Austin. How are you? I'm doing fine. How are you doing, Mr. Ramsey?

Better than I deserve. What's up? Yeah, so I had a question. I'm at the Navy. I'm doing the TSP right now, and a lot of people seem to think that they should get out of the CES and I-Funds and go to G-Fund to, I guess, secure their jeans. A lot of people are stupid. That's what I say. They said and I heard it's the worst financial planning firm out there.

Exactly. I had one lady tell me that I haven't been doing it as long as her, so I don't know what I'm talking about. So I said, okay, you're one day older, two days dumber. Wow. That's a good one. I like that. That's one way to get way to get slapped yeah yeah you need to be in there and thank you for your service yes absolutely so you know what to put it in what are you going to put it what are you going to put it in austin say again sir what what are you which plans are

you going to put it in you know what to do right yes sir what is it c c s C, S, and I. C, S, and I, exactly. 80, 10, 10, 10, 80% in the C, 10 in the S, and 10 in the I. And just smile at the sweet lady and drive on past her. She's driving 30, you'll be driving 100. Exactly. And thank you, man. And put it in the Roth version, too. You've got Roth available to you now.

Absolutely. That's where it's been since I've joined. Yeah. If you just do that and you fill that up and you serve 20 years and you get military retirement and you have three-quarters of a million dollars in your C plan, you're going to be a millionaire, man. You're going to be in great shape. Absolutely. Yep.

I just ran listed for six years, so we're working on it. There you go, man. That's awesome. Again, thank you for your service. Now, there's a few funds in here. He's mentioned CSIG. Everyone might be going, what the heck is this? So the G is the Government Securities Investment Fund, which we don't recommend. Translation, no rates of return. Horrible rate of return. And then there's the Fixed Income Index Investment, which is the F fund. Next worst rate of return. Also sucks. And the rest are the CSI, Common Stock

Index. That's the C, and that one is tied to the performance of the S&P 500, which is why we say put the majority of your money into that. It's performed the best of all the options over the years. And then the S is going to be your stocks from small to midsize companies, and the I is going to be your international. So there's a little bit in there diversified in your portfolio, just like we talk about with your mutual funds. We talk about growth, growth in income, aggressive growth in international,

and this is pretty close to that mix. The reason I go a little heavier in the C on this is out of everything, it's outperformed all the funds substantially inside the TSP. And so substantially. But again, it's going to model about after the S&P 500, which is going to put you around 11%, 12% average rate of return over time. I mean, right now, it's down. It's on sale, just like the rest of the stock market.

So if you're worried about your retirement, by the way, I think I'm going to buy something while it's on sale. I think I'm going to wait until it goes up. Oh, boy. Don't do that. Timing the market, Dave? You said no one ever about shoes, you know? It's on sale. I'm going to wait until it goes up. Oh, boy. Don't do that. Timing the market, Dave? You never said no one ever about shoes. You know?

It's on sale. I'm going to miss the sale intentionally and wait until they go up. I go the Rachel Cruz method. If it's on sale, we're buying it. There we go. No. Oh, no. Oh, no.

I just got in trouble. No! This is the Ramsey Show. In an uncertain world, being a good steward of your money is more important than ever. While some circumstances can't be controlled, there are items within your budget you can take charge of, such as your health care costs. For nearly 40 years, Christian Health Care Ministries, or CHM, has provided a budget-friendly means of sharing for medical bills when our members need it. Learn more by visiting chministries.org slash budget. That's chministries.org slash budget. Christian Healthcare Ministries is a Ramsey Personality, is my co-host today in the lobby of Ramsey Solutions

on the debt-free stage. Brent and Chelsea are with us. Hey, guys, how are you? Hi, good. Good, thank you. How are you? Better than I deserve. Where are you guys from?

We are from Jasper, Indiana. Ah, good to have you. Thank you. How much debt have you paid off? So we have paid off $125,000. Very good. How long did that take? Took us about eight years.

Good. And your range of income during that time? So when we started, it was basically right when we were getting married, and both of us were bringing in $110,000 together. Okay. And nowadays? Nowadays, we're $83,500. Good.

Very good. What do you all do for a living? I am a group leader for a local manufacturer in Jasper, Jasper Engines and Transmissions. Of course. World famous. Yes. And I'm a stay-at-home mother. Ah, okay.

Very good. Very good. So, 125,000 over eight years. Is that your house? House and a van. I'm looking at weird people. Yes. in over eight years is that your house house in a uh a van yes no house payments yes it's been great wow what's this house worth so the house um as far as when we purchase it what's it worth right now worth right now probably about 180 000 i love it and you own it by god yes we sure do like it it's exciting well done so and then uh you know before we got married um it was one of those as far as how we

got involved with this was our pastor that we were um doing marriage counseling classes with he recommended we take a financial peace university did you yep yes we sure did followed his recommendation that got the whole thing started yes it was a rough journey at first, but we stayed on track. I played off my student loans, and then we cash flowed the wedding. And then finally, we worked together once we got married to be able to start with our debt-free journey. Yeah. There's a house done and everything. Yeah.

We cash flowed three kids. You'll see them soon. The roof. We had a roof. We had air conditioning. We had air conditioning. We had another van. Just everything. Open heart surgery. I did.

Yes. You can throw that in there. No big deal, right? I've been very fortunate. The principles that you teach, it really taught us early on in our relationship of being able to work through some of those struggles that

we had going throughout our marriage here. So, yeah. Powerful. Very powerful. Way to go, you two. Thank you. How does it feel to not have a payment in the world? It's been great.

You know, we paid off the house at the beginning of March, and timing was good. You know, God is good. He knows when we're supposed to do this stuff because as soon as we paid that off, we started having things go broke, basically. You know, we had an issue with our van. That was a $1,400 bill. We had other issues in the house, and it just seemed things were piling on right there. And it was so nice not having that mortgage because we were able to use that money then to go towards that, which was really helpful for us. How old are you two?

I'm 35. 33. With a paid-for house. I'm seeing a trend here, Dave. I am too. These young people are getting a hold of this stuff going, we don't have to have a house payment until we retire. That's okay. Mortgage does not mean for my whole life I'm not doing this.

Yes, exactly. You guys are incredible. So over an eight-year journey, you had a lot of stuff going on. Yes. What kept you going that long? I have to say there was three people in my life. Our parents, definitely both sides. But one in particular, her name's Stacy.

She always told me it's a marathon. It's not a sprint. Keep going. You can't pay it off tomorrow. Just be patient. Last six to eight months was a really close friend of mine amanda she just paid her house off at the end fall last year so she just kept me going and said don't give up she had the right kind of people around yes an appliance technician um i know he was a day he's a a Dave Ramsey fan too. And he really pushed and coached me and stuff too.

So it was just people were coming and just helping us. So friends of the family and then, you know, just some that just so happened to come into our life, you know, an appliance repair guy just coming into the house and just conversation takes off, you know? Yes. So really neat. Yeah. And we have the fourth one coming so we're very blessed and stressed for free on that end so get free baby yes exactly here we go yeah yeah very very cool very cool what advice do you have to somebody who's just getting started

uh don't give up um you know keep on pushing through and that's coming from the free spirit of the relationship here you know uh chelsea i tell everybody we wouldn't be where we were if it wasn't for chelsea you know she was the nerd she's the she she loves dave uh you know and following what he teaches listening to the podcast um she tells me she'll be cleaning the house listening to the podcast and just breaking down crying because of the the debt-free scream story she's hearing uh you know so just keep on pushing because it's so worth it at the end, being able to have that relief of knowing you don't have to pay those monthly payments really any longer for a loan that you have.

You guys have completely changed your family tree. Has that settled in? Do you get that? It's so stinking rich. It's fun, and that's one reason why i wanted to because i knew i wanted a bigger family we wanted a bigger family and just having that was just nice and it's peace for me definitely staying at home i can have a little bit more comfort with him only one income so you two are heroes i'm so proud of you thank you very much very very very well done we got a copy of baby Steps Millionaires for you.

That's the next chapter in your story. And for sure, you're going to be one of those. And a copy of Total Money Makeover for you, too. And the Financial Peace University. You said you've been through that. Maybe you can give it away. You'll get one year subscription to that, and we'll get that activated for you. And you can either give it away or you can do it.

Let's get the kiddos in the shot the three that are the three that are here and we got one on the way yeah what are their names and ages so we have got harper over here she is five we've got millie right here she is three and then we have ruby she is one oh beautiful number four is due uh september 1st beautiful do we know what it is no we don't find out okay good that's fun we're weird We don't find out. Okay, good. That's fun. We're weird. We haven't found out gender on any of them.

I've got one daughter that does that, and I've got the other one that won't tell you the name. We always have some kind of a surprise every time we get one. Way to go, you guys. Beautiful, beautiful, beautiful. Thank you. Well done. All right, Brent and Chelsea. Harper, Millie, and Ruby.

Jasper, Indiana, $125,000 paid off in eight years, making $110,000 to $83,000. She's home with the babies. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free! Yay! Yay!

Woo-hoo-hoo! Way to go, you guys. Way to go. I love it. I needed some good news today, Dave, after reading all those headlines. So this is the good news I needed. Yeah. Just in case you think the world's falling apart,

dial in and watch about six or eight debt-free screams in a row. You'll just be crying, and you'll know there's hope. You can still win, even in today's economy. You can win. You you can always win you can win in any economy because it's not up to them whether you win it's up to you whether you win you have to make the decision if i can control the guy in my mirror he can be skinny and rich but he's got issues he likes donuts i mean you just gotta it's a problem it's a problem we are in control of more of our life than anyone else is. The outside variables do not have as much control over you as your panic-ridden, adrenaline-fed brain from watching too much cable news has got you freaked out and you think that everything's going to cave in on you. It's not. It's not. It has as much power as you give it you are in control not a hundred percent but almost you're in control

you can move you can work in a different job you're in control you can sell the car. You cannot buy that car. You're in control. You are in control. You're not forced. This is a free country. You don't have to choose stupid. You can choose wisdom. It's an option.

And these people, like Brent and Chelsea, do it all the time. It's inspiring. And they mentioned, you've got to surround yourself with positivity. They were watching that free screams. They had people who told them they could do it all the time. It's inspiring. And they mentioned you got to surround yourself with positivity. They were watching that free screams. They had people who told them they could do it. And most of America is surrounded by negative headlines, negative people, tweets, TikToks. If all your friends have Eeyore as their spirit animal, oh, it's bad. It's always going to be bad. Little man can't get ahead.

You need new friends. Go find you a Tigger. Your't get ahead. You need new friends. Go find you a Tigger. Your friends are losers. You need new friends. Somebody has a smile. Somebody believes you can do it. Somebody tells you you got a shot. Somebody tells you go for it.

Write that song. Write that book. Paint that painting. Open that small business. Come on, guys. Throw your shoulders back. Act like you care. Act like you've got something.

Because you do. This is The Ramsey personality is my co-host today well one of our friends dropped by last time she was here she was uh promoting her latest book at the time and has a book coming out later in the fall but was in town offered to come by and say hello anytime we get that opportunity we take it ambassador or governor or just Nikkiki haley is with us uh she is uh famously the first minority female governor in america when she was governor of south carolina the first female first minority governor in south carolina and the u.s ambassador of the united nations as well uh it's been a wild uh journey and uh i love i hadn't seen this margaret thatcher

quote in forever and it's one of my faves if you want something said ask a man if you want something done ask a woman i mean right pull that up in front of your mouth there and that became the title of the new book if you want something done i love that there we go oh i mean it's true like come on nicky that's a little sexist it's really not it's it's really. Look, I'm a big fan of women, and I know that we tend to be perfectionists. We balance. We're good at what we do. And the truth is, you know, men are great when they want to do something. They jump.

They don't think about it. But women, when they do something, they have thought about it. They know exactly what they're doing and how they're going to do it, and they get it done. And, you know, I think Lady Thatcher had it right. She did. The women that enter the space of public service or politics and do it successfully are unusually confident and strong people in general, but women as well. Marsha Blackburn's a good friend of mine. Yes, she's great.

As an example, Lady Thatcher, you, others. I think of people like that. Condoleezza Rice. Yes, exactly. Brilliant and poised and really just, I mean, one of my friends, we were with Condi, and he said, I think her purse is smarter than me. He's probably right. Yeah, she is off the scale smart.

So that's going to be the launch. If you want something done, that's the title of the new book coming out in the fall. Yes, it is. So what are you working on right now? Because I know it's not book tour. You must be working on politics. You know, we're working on policy and politics. I mean, the politics is easy.

People love to talk about the politics. But the truth is it's the policy we need to worry about. I mean, as I go across the country campaigning for other people, it's the issues that they care about. And you know more than anybody, what they're talking about is the fact that their wallets are empty. And you look at the fact that families are now having to spend $6,000 more a year than they did last year. And what I can tell you, Dave, you do God's work in the way that you talk to your audience. But if Michael and I had to spend $6,000 more a year when we were raising our kids,

do you know where we got that from? A credit card. I've heard the rumor. And that's what's happening all over America. And people are scared. And they look at the fact that they've only got on average $12,000 in savings. They're dipping into that.

You've got $30 trillion in debt. The amount of money each taxpayer owes is $242,000 if you look at a $30 trillion debt. That's not per household. That's per taxpayer. It is irresponsible and unconscionable that we're in this situation. But it happened from Republicans and Democrats, right? So you've got a $30 trillion in debt. And when all of this happens, the last spending bill, they passed 5,000 earmarks totaling $10 billion with a B. Republicans and

Democrats did that. These were things like $12 million for a baseball field in New York, $15 million to try and get the World Cup to New Jersey, $6.5 million for golf courses in Colorado. At a time where families are struggling, that's just immoral. And that's the part we have to wake America up on, which is when real families are struggling at the gas station, but they have to go to work and at the grocery store and they have to feed their families. We've got to get people in office that understands the value of a dollar. Governors can do that. And you were sat in the governor's seat in south carolina uh they can do that on a state level

uh maybe because there's um less of a machine maybe because there's less complexity uh but you had to have some insight from having sat in that seat on that this can be done or is it just too gum is the machine just too gummed up and we've just got to send almost all of them home and start again? Well, I think it's a couple of things. I mean, first of all, there shouldn't be anything gummed up or partisan about balancing a budget. You know, I mean, households do it. Small businesses do it. You never spend more than you have.

So government should do the same thing. Now, does South Carolina run a balanced budget? Yes. Tennessee does by constitution. No. you have to and you should and i think that being an executive um what i focused on and what every executive focuses on is you can't necessarily focus on partisanship you've got to lift up everybody and in order to lift up everybody you just have to do good common sense approaches so we looked at

our the people that were on welfare and we said, how do we lift them up? And so what we did was we went to our small businesses and said, look, if you will hire them for this many weeks, we will pay for them. And all we're asking for you to do is train them. Well, after that time was up, they would hire those people because they invested the time. And they thought they were in love with them. And we put thousands of people from welfare to work just by connecting the dots. That's what has to be done. That's the role government can do is to put people together so that people aren't on the government dole.

But, you know, you have to focus on that. Now, part of that is policy. We like to give the government and White House a hard time, but what are some practical policy decisions that Congress can make to help these American families who are struggling? Well, I think they need to balance the budget. I think they need to stop this wasteful spending. All the earmarks that they have started, they need to stop all of that. There's not one American that wants them to be doing that right now, and they've got to stop. And I think they've got to roll back these regulations that they're putting on businesses. You know, what I've always said is if you can give a person a job,

you take care of a family. Small businesses try and take care of a lot of families. The best thing government can do is get out of their way. When businesses have cash flow, they don't run out and go on vacation. They hire people. And we've got to make sure that they can take care of their people. We've got to make sure we get through this economy. And you do that by taking care of your small businesses. You do that by getting government out of the way. And you do that by lifting people up. And we have an opportunity to get through this nightmare. But we got to be smart about it. And throwing more money at it is not the answer. That's for sure. so you're going to run for president you know i don't have to make a decision until january i mean i have said i

have never lost a race i'm not going to start now if there's a place for me i'll put a thousand percent into it and i'll finish it if there's not a place for me i love this country and i'll fight for her until my last breath well i didn't expect you to announce it here but i just thought i'd ask that would have been awesome though although you know i'm such a fan of yours that would be kind of fun that would be that would probably not be your wisest political move i'm just saying but yeah that's fun well we appreciate that very very much thank you so much for coming by all right if. If you want something done, there's the new book coming out in the fall. So what's in the book? You know, you can preorder it today.

Go to NikkiHaley.com. But basically the book is, the publisher asked me if I would write this because there were books about many leaders, but there wasn't a book about female leaders. And so what we focused on is female leaders from all walks of life, all domestic and international, and it talks about their struggle, their story, and their courage. And, you know, I go and I also, with every profile, I talk about a story of mine that relates to that. And I think what I try and tell people, men and women, is we all have war stories. And war stories are those times where you were most uncomfortable, those times that

pushed you in a way that you didn't think you'd make it, and those times that you overcame. And what happens is you learn an amazing lesson when you do that. And so I always tell people, push through the fear, get those war stories. Because when you have war stories, that's when you're living life. If you don't have war stories, you never know what could have been. These women that are profiled in this book, they all had amazing war stories. They were normal people that became extraordinary leaders. So Maggie Thatcher's in there? She is absolutely in there prominently.

Michael Reagan's a good friend of mine, and he says that Ronald Reagan would not have been the Ronald Reagan that we know if Maggie hadn't been across the pond at the same time. And I don't know that she would have been the leader she was if Ronald Reagan hadn't been there. It's an amazing friendship. Some very interesting teamwork and friendship there. Absolutely. Nikki Haley, thank you for stopping by. We want to hear from you.

We want to know what your plans are, okay? It's always fun to be here. Thank you. Love it. We want to hear from you. We want to know what your plans are, okay? It's always fun to be here. Thank you. Love it. This is The Ramsey Show. Let's go. our scripture of the day proverbs 26 20 without wood a fire goes out and without gossip a quarrel dies down who knew proverbs got there first they knew about gossip uh norman vince appeal said nothing is more confusing than people who give good advice but set a bad example hypocrisy oh there's that that'll get you good stuff so uh kelly said at the break she said what if what if uh ambassador nicky haley had announced

her presidential race on the ramsey show we would have have all passed out. That's what we would have done. Under the table. Had absolutely no illusions that that was going to happen. The only thing that could make it better is if Dave announced he was running as a VP with her. No, she would have had to been my VP, George. Oh, okay. I believe that. We were talking in the break. Have you ever known me to have a boss?

That's true and that's why dave will not be part of the government anytime soon for about a thousand that's exactly right i'll guarantee you i don't need to pay cut she's so poised it's awesome just i mean we were talking about it she's just there's a different thing happening with people like that with condoleezza rice we're talking about her just the level of intellect. It's incredible. Yeah, and I don't know. These people that play on the national political stage at a big level, I mean, they have a charisma. I've never met President Bill Clinton, but everyone that I know that has ever met him says he's the most endearing in person. Everybody likes him, even his enemies i mean even people completely disagree with him politically or morally or whatever you hang out with the guy they just love him and i've heard that from lots and lots of people i mean i've

again i've never met him but i've heard that and i've heard the opposite about others but um yeah there's something about those folks it's a different it's a different thing so yeah we poke fun at them all the time and uh the politicians and the the presidents and all those kinds of things but they are some good apples out there too there's some there's some good ones in the bunch open phones at 888-825-5225 you jump in we'll talk about your life and your money george camel ramsey personality, is my co-host. Daniel is with us. Daniel is in San Antonio, Texas. Hey, Daniel, how are you? I'm doing good, sir. How about yourself?

Better than I deserve. How can I help? Yes, sir. Me and my wife are facing kind of a dilemma right now. So her father passed away at the beginning of the year due to a heart attack. Um, she's really, she's received a settlement. Um, and we just were having trouble trying to figure out how to deal with it. Um, we're facing scrutiny from her sister who believes she's entitled to it. Um, he had several life insurances. So each of the children got one and she just so happened to get the biggest uh portion and she was the only beneficiary on it so her dad had multiple life insurance policies and he wrote down the beneficiary on each one

and each kid got different amounts of insurance, but that was all his decision. Yes, sir. And your wife received how much? Roughly $500,000. And her sister received how much? One received, I believe, $100,000, and the other received about $16,000.

The one that got $15, 15 is the one that's pissed yes okay so why do you think her dad did that um we so we were in the military um for the last couple years of his life and he traveled everywhere around the world to see us we developed a great long distance relationship with him and as far as our personal achievements we we've been the first to get a house on our own do everything as far as um adult wise on our own so your your wife's sister feels like she's entitled to something that her dad did not want her to have yes sir why does she feel like she's entitled to something her dad didn not want her to have? Yes, sir. Why does she feel like she's entitled to something her dad didn't want her to have?

Because if he'd wanted her to have it, he would have put her name on the policy. And I've said that as well, sir. At the same time, we're not money motivated. That doesn't matter. Yes, sir. The money doesn't matter. The arrogance of your sister-in-law is appalling i mean if the old man wanted her to have the money he would put her name on the thing

yes sir so why does she think she's entitled what has she said what has she said um just constantly checking up to see if the money has been received um no no that wasn't what i asked i asked why she thinks you're supposed to give her money i have no clue sir she hasn't said you owe me this because no sir she just said you owe me this um not not those exact words but um as far as checking up see if we got the money yes um well that's none of her business plans for the money that's none of her business yes sir and if she didn't also well i mean she has she ever come out and said she wants it uh yes so the original plan was to split it amongst three, and that was discussed by them. Who?

The sisters, all three sisters. But that was prior to finding out the information that he had multiple life insurance. So he never told them the situation. He never laid it out and said hey there's different policies here's how much is in each that's part of this is it was a big surprise at the end uh yes sir he just always told them if in an instant okay at what point did your sister did your wife and her sisters get together and decide they're going to split this before he died or after he died after i'm so confused why they would do that but they

didn't know that there was multiple policies and the amounts at that point what was it they were agreeing to split then um from their understanding like i said there was only an understanding of one life insurance so they had planned to take their estate to the probate court, split their estate evenly. It doesn't go to probate court. Life insurance proceeds come straight to you. Unless the beneficiary is an estate, which would be the dumbest thing you could possibly do with a life insurance policy. No, sir, it wasn't. It wasn't my wife's name.

It does not go to probate court. It just goes to your wife. It's her money, period. I'm not sure. Do you have any indication that the old man intended for this money to be split? No, sir, none. Then why did the girls decide to split it because they thought that was the only thing that he had left as far as money was yeah but but then what if he didn't want him to split it yes sir um after the realization that he had multiple life

insurances um they they ceased uh their communication about the life insurance. Then it became a mystery. And me and my wife were trying to figure out what to do with it. I told her it was up to her, whatever she decided. Here's the thing. Here's the thing. You cannot give them money if the reason you're giving them money is because you think that saves the relationship. Because a relationship that is purchased is prostitution.

It's not relationship. I'm not going to keep that. Okay. And so if you're thinking, oh, the only way my sister's ever going to speak to me again is if I split money with her, then she ain't worth having. If the only reason she speaks to me is if i give her money i don't need her that's no longer that's no longer somebody you have to impress if the relationship's severed because of this it's not on your wife yeah it's not on you guys and you don't do it to save the relationship and you don't do it but to prove that you're not money motivated you would only way you would split all this up is if you felt like it was morally the right thing to do and you felt like the old

man meant to do that and he just never got around to doing the paperwork right and you wanted to honor his you wanted to honor his wishes but it sounds to me like his wishes have been verified they're called a beneficiary on a life insurance policy i uh sister-in-law can take it up with dad in the next life but this is not she doesn't need to be going after your wife for this sorry hunt him down in heaven get over it yeah no i wouldn't give her the money i wouldn't i i don't think there's any reason here for you to do that it has nothing to do with you being greedy because you're not that's not the point you people with you being greedy because you're not. That's not the point. You people, when you're doing your estate plans, tell all the people what's happening before you die.

Don't leave your kids in this situation. They won't be pissed at you. You need to do it while you're alive. Have some guts. That puts us out of the Ramsey Show and the books. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus.

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