The Ramsey Show - App - My Stepson Keeps Asking Me for Money To Pay His Bills! (Hour 3)

Episode Date: April 3, 2023

Dave Ramsey & Ken Coleman answer your questions and discuss: Moving after having just started a new job,  "My stepson keeps asking me for money to pay his bills," "Should we use a cash balanced pension?" "Can I quit-claim deed my timeshare?" Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Want a plan for your money? Take our FREE 3 minute assessment: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Learn more about your ad choices. https://www.megaphone.fm/adchoices 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. The Work Ramsey personality, Ken Coleman, is with me today. He talks to you about getting work you love and doing jobs that matter, doing a career that matters, if you want to use that word. And, hey, we're here to talk to you about your life and your money.

It's a free call at 888-825-5225. Ken takes calls on the Ken Coleman Show every day. Broadcast as a podcast, 75 radio stations, and of course SiriusXM as well. And joins me a couple times a week here or there on this show.

So thanks for being here, boys and girls. We're glad you're here. 888-825-5225. Bert is in Wichita. Hey, Bert, how are you? I'm doing well, sir. How are you? Better than I deserve. What's up? Well, sir, I had a question for you guys. We adopted a little girl with special needs here over a year ago. And during that time, I was able to find a job that I'd been looking for and really, really wanted. And now we're six months into this new position, and this little girl we adopted needs a lot more medical attention. And my wife is talking about wanting to move to a larger city where we could get some better quality specialists in health care. And I just feel I'm struggling with it, trying to figure out, you know,

if this would be a smart move or not. And, you know, especially because of the job, I just started it, and it's something that I've really wanted for a long time. Yeah, that's pretty heavy. How far away is the city where the medical opportunities are better? Well, it would be, what she's currently talking about is about three and a half, four hour drive. And we go there for appointments, you know, right now, you know, on a weekly to two week basis. So, you know, it requires us to have some extra planning, take time off work, and for her job and mine, you know, depending on who goes with her.

And it's just, I see the logic in her idea of wanting to move. It just, I'm struggling with it because of the position I'm in. Yeah, because, so let's remove this unique challenge of your daughter's very important medical care. You're on the ladder that you want to be on. I'm guessing that you feel like this is going to take you somewhere where you want to go or you're actually there now. Is that the case?

I'm kind of there now. Yeah. What do you do? So I work in agriculture. I'm a district sales manager for a seed company right now. Yeah. And this is pretty high up the ladder for you or the top of the ladder where you want to be?

Well, it's maybe not the top, but it's a position that I've strived to get. And, you know, it took a long time to find it and get there. Right. So the first thing I would be doing if I'm in your shoes is I want to at least look at this city three and a half, four hours away. And I want to see in my industry, what kind of opportunities are there? Because you've got a very unique narrative to where you're not a flake if you were to leave this company six months in. So in the narrative from leaving them and what it looks like on your professional record or resume, plus joining another company, it's a really unique circumstance. So I want to at least see what my options are.

I want to totally exhaust that to see that. Now, if it doesn't feel right, I'm also sitting down with my wife in this situation going, okay, she needs this medical care. We need to find some other ways to where I'm not having to take a lot of time off and we're going to make some adjustments in our life so that I can stay put and keep growing professionally and take care of the responsibilities I've got to take care of. And so I'm going to find some other ways, some support systems to be able to make that drive and do that. But I'm not going to pull up roots unless I can replace my income and my professional opportunity. That would be my position. However, let me just say this. At the end of the day, you have to do what's best for your family, and if this is a season of life where maybe you have

to make some sacrifices, that may be the decision you've got to make too. I don't think this is clear cut. What is the nature of your daughter's disabilities? Well, so when we adopted her, we knew she had cerebral palsy and epilepsy. But when we got her back, we adopted her from Columbia. And we asked all the questions we possibly could, but they couldn't or didn't know or wouldn't fill us in on everything. So she's got a rare form of epilepsy, Lennox-Gastaut syndrome, and it's degenerative is what we found out. And she just needs a lot more, you know, almost 24-hour care

than what we can give her in the little small town that we're at right now. How old is she, hon? She just turned nine right now. And how long have you all had her? You said two years? Well, we've had her for about a year. It's taken almost two, two and a half years to get her. How old are you?

I am 42. Yeah, I think I'm 42. I forgot. This is all running together. I don't blame you. I don't blame you. So here's what I have learned by having Dr. John Deloney sitting next to me on this seat for a couple of years now. I'm going to channel my best Deloney for a second, okay?

He says that you had a picture of what this adoption was going to represent, that there were some challenges, but they were doable. That picture has been shattered. The challenges are greater than you thought, a lot greater than you thought. And so grieving that picture that you thought you had of adopting this sweet kid, giving her a cool start here, being able to take her out of the mess that she was in, and everything was going to be okay, and you were going to work through the challenges, then take the challenges and 2X them or 3X them, and now you've got a broken heart about the picture that you had.

That's what he would say. Does that sound right? Yes, sir. That sounds pretty close to exactly right. Yeah. And then that goes with, you know, and I just got this job. Yeah. Oh, man, I've been wanting this job.

And so now I'm grieving that, and yet you're the kind of guy I can tell by talking to you for just a few minutes, you're going to do what it takes to take care of this baby. You're really not arguing with your wife. It's just making you mad at life, you know? Yeah, yeah. You know, because you're a guy who's going to do what it takes to take care of his family so that's not in question now i think ken's right um what i would do is before

i just completely go this whole thing's blown up it's not gonna you know everything you might make six phone calls in the other city and land a very similar position. You don't know that yet. I don't know that yet because you hadn't tried yet. Right. So I don't know that your dream has to die where you are. It might go to the other place and flourish just as well, or something similar or that scratches the itch that this scratches, but a slightly different industry.

I don't know whether you're in agriculture in that area, you know, but you're within 30 minutes of the hospital instead of four and a half hours. You're a good man, Bert. Yeah. You're a good man. You're going to do what's right, and it's going to be okay. And in 10 years, you're going to look back, and whatever you do will have been the right thing because you're that guy.

This is The Ramsey Show. Hey, you guys, health insurance costs are only moving one way, and that way isn't down. And if higher costs aren't enough, the wait times to see your doctor are longer, and it's harder than ever to get anything approved through the bureaucracy. So if you feel like the system is working against you, try a biblically-based alternative to health insurance, Christian Healthcare Ministries. CHM is a health cost-sharing ministry that's helped hundreds of thousands of families like yours take care of over $11 billion in medical bills since 1981. And CHM has also helped them stay true to their values and avoid miles of red tape. And CHM support goes far beyond meeting financial needs. They'll also help meet spiritual needs. Members become part of a family who will pray with them

and for them when they experience a medical event. So listen, y'all, there's no better way to take care of health care costs. CHM programs start as low as $98 a month. So learn more today and join at chministries.org budget. That's chministries.org budget. Ken Coleman Ramsey personality is my co-host today thank you for joining us America and more and more of you are whether it's talk radio 680 talk radio stations were the second largest talk radio show in America and have been for many years thank you for that TBN now carrying the show many of you watching and joining us there for the very first time. Thank you for that. Of course, SiriusXM and every version of podcast out there,

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You guys have given us sellouts in every city. Thank you so much. In exactly three weeks, you can join me, George Camel, Rachel Cruz, and Jade Warshaw in Salt Lake City on April the 24th. And then our event in Anaheim, California, May the 2nd. Almost sold out. Don't want to wait much longer. Those tickets are almost gone, and that's going to include Ken Coleman to my right,

Dr. John Deloney, and Jade Orshaw as well. So you want to come ready to go. The venues are packed. Get there early. Get ready to change your life and get you a good seat. Everybody's feeling the effects of inflation, and we're going to walk you through building wealth in America today in 2023 in this current weird and wacky time that we live,

and it still does work every time. April 24th, Salt Lake City, Anaheim, May 2nd. Tickets are $49 each, and they're going really fast. Go to ramseysolutions.com slash events. All the VIP and Platinum have sold out months ago. But the general admissions are still available, and you get there early to get you a good seat. Elaine is with us in Tulsa, Oklahoma.

Hi, Elaine. Hi. What's up? What I'm calling about is my stepson, whom I love as much as I do my own son. We've been very close, and he has come to me for some money, a large sum this time. And I just don't know if he's ever going to learn how to do his money. I don't know what to do. How old is he?

I want to help him. How old is he? 60, 62. I'm 83, almost 84. Wow. I know I'm old. No, no. You sound like you're 45 and and I'm when I had a stepson I didn't have 62 in

my head okay um so how much large sum is he asking for uh 69,000 for what well he he gave me a list of bills for mortgage payments on his house and 10 acres and mortgage payments on some land and credit cards and student loans and a truck. Okay, if he's 22, I kind of get it. I'm having trouble wrapping my head around how you're 62 and you still ask mommy for money i'm really struggling with that what's his problem does he not work much he works all the time and his wife works what do they do with all their money i that's one question i did not ask him um and i should have when we sat down to talk about this. You know what he's going to say? I don't know because he doesn't know.

He doesn't know. Probably, yeah. He has absolutely no plan because no one plans to make a mess like he has made. True. So how much money have, how long have you been giving him money? Oh, I've given him money ever since his dad died, but, you know, off on home, but it's been small amounts, you know, $12,000. How long? $25,000.

How long? About nine years. Yeah, okay. And how much money do you have, hon? Well, my husband, I loved him dearly. He left me a trust. Right now, and it is $335,797. I have Social Security.

Okay. All right. So out of the trust, I get monthly, I get $2,800 a month. So where are you going to get $69,000? Well, I'd have to take it out of this trust. Oh, you could take it out of the trust. Okay. All right.

So you're 82, and are you in ill health? Well, I'm 84, almost 84. You sound like you're in great health. Well, I've had a heart attack and a couple of life strokes, and I've been diagnosed with severe degenerative dysplasia. So what happens to this trust when you pass? He gets it. He gets it. He gets it. There's no other siblings?

Oh, because it was in his dad's name before. The other sibling is out. Okay, why? He filed a lawsuit on me. He filed a lawsuit on me to get the estate and my home. So the trust you're leaving to the stepson, you said you don't have a son. Well, we went through the courts,

and we bought his older brother out. But do you have any children? I have a daughter and a son. Why are they not getting part of the trust? Well, because it was made out to my husband's sons. Okay. All right, because it was his money. It was his money, and he wanted it left through to them after you passed.

I got you. Yes. Okay, and then one of them's out because he tried to mess it over. I got you. Okay. Wow. Okay, so here's what you can do. Um, I don't know if you will, because you're a very sweet lady and I don't know if you're too sweet or not. I want you to be so sweet that you love this 62 year old better than you have loved him

because by giving him money, you have not been loving him. Well, you've allowed him to continue to misbehave you gave a drunk a drink does that make sense and you know that that's why you called me that's why you call me because you know that oddly enough i'm his age and that's weird okay that's so weird but anyway yeah um the thing is, anytime you've got someone who's perpetually coming to you for money and you give them money and it doesn't help them, then you become, and nice people who does this, not mean people, you become what we call an enabler. You're giving a drunk a drink. And so you've enabled him, and he's gotten bolder and bolder and bolder as he's gone along. And so here's what you say. I talked to my financial counselor, because you did. I'm him. And he said, I don't have enough money to give you the $69,000, because you don't.

You don't have that much money. You need the money that you have for your life. Now, if there's money left over when you're gone, you can leave it to him. That's fine. But you don't have $69,000 to give him. Even if you did, it wouldn't be good for him. It's not proven to be good for him in the past.

So what I would do is this. I would offer to help him as he goes through Financial Peace University, and I'm going to pay for it and give it to you for free. I'm going to put you on hold, and Austin's going to give it to you to give to him. If he goes to the class and documents to you that he pays off a bill, you will match him up to what he pays off. And so instead of $69,000, he's going to get $30,000 if he changes his habits and pays bills off. And if he goes through this class, if he doesn't do those things, he gets zero until you die. Ken Coleman, Ramsey Personality, number one bestselling author of the book Paycheck to Purpose, is my co-host today.

Open phones at 888-825-5225. In the lobby of Ramsey Solutions on the debt-free stage, Bill and Amy are with us. Hey, guys. How are you? Good. How are you? We're doing great. Thanks.

Honored to have you. Where do you live? Folsom, California. Okay.'re doing great, thanks. Honored to have you. Where do you live? Folsom, California. Okay, which is near? Sacramento. Sacramento, gotcha. Okay, welcome to Nashville. Thanks.

Thank you. Good to have you. And how much debt have you paid off? A little over $122,000. Good. How long did that take? 43 months. Good for you.

And your range of income during that time? Started at $130,000 and ended up at $170,000. Cool. What do you all do for a living? I work in health administration. And I work in the energy sector. Oh, very cool. Good to have you guys.

Thanks. All right. What kind of debt was the $122,000? Well, $80,000 was my student loan. And then we had a car loan and, of course, credit card debt. You were kind of normal very normal yes normal people yeah and then you figured out normal sucks i don't want to be normal anymore yes that's very true all right so tell us the story what happened got you on this ramsey stuff

uh well it happened back a while ago in 2006 my husband worked in the mortgage mortgage industry we had just bought our first home and he lost his job. Of course, everything, when the crash happened. So we tried to stay afloat as much as possible. We had our first son, Justin, and we realized that we just, we couldn't make ends meet. So we ended up filing bankruptcy, having to short sell our home. That was probably the most humiliating thing we've ever had to go through. We went through that. We moved to an apartment, had our other son and tried to rebuild our life, bought a beautiful home in Folsom and saw the same thing happening again. Uh-oh. And we're like, okay, this can't happen again.

I don't want to feel that. We can't disappoint our family and our kids. We need to figure out how to do this right. So I asked my brother for help. I said, hey, you know, he's always been really good with money. Do you want to sit with me? Can we figure out this budget thing? He's like, well, have you heard of Dave Ramsey and Financial Peace University?

And I'm like, no, I haven't. He's like, well, let's start. So we bought the DVD set. I brought home the workbooks, introduced you to my husband. And we literally went, I mean, zero to 60 in a matter of minutes. You were ready. Yeah. You were sick and tired of being sick and tired

exactly we now go to work for ourselves and not for capital one or whoever we owed so it feels amazing and so that was our huge turnaround for us and we will never go back again so bill she comes home with these dvds from her brother what did you say well at first when she told me about the uh dvds dvd set uh she was like, you've got to hear this guy, Dave Ramsey. And I was like, oh, God, here we go. It's another one of those messages. But once we started listening to the discs, it actually was common sense. And it's stuff that we grew up with going, hey, you know, I don't even know why we're not following these principles.

And it wasn't until then that we got together and we're looking at our budgets. And that was a surprising moment, too, because when we figured out how much we were in debt, really. I mean, because for us, we just wake up in the routine. We go to work. We come back. But after all that long work, you kind of feel like you need to reward yourself, right? So we went out there and without even thought, we're going out to dinners. We're just spending like crazy so now looking at our budget and our numbers it put it all in perspective for us we're like oh my god we're just we got to get and follow the baby steps

and um ever since then we've been rocking it i did second jobs uh second and third jobs yep and we pulled it through and it was you know work. But at the end of the day, this was our goal to be on this stage and to actually just let everybody know if we can do it, anybody can do it. You just got to put in that effort. The same period of time that goes by for everybody else where you're waking up in that routine and you just don't know how to get out. We did that little extra work, but at least now we have a purpose of why we're busting butt to go

out there and just kill it because at the end of the whole thing really now we're feeling the peace amy couldn't even sleep at night half the time worrying about the bills you know so now it's really nice to see her just relax and life is totally different so here's what i want people to hear they heard you both say you worked multiple jobs yeah so i want to know what you did because this is the kind of stuff that people need to hear because you just simply said we are going to work and i'm guessing you didn't have a problem sleeping when you're working all those extra jobs either right no not at all tired yeah yeah so what you both do give us those extra jobs yeah so i worked um at a restaurant um i worked a hostess job and um i did I actually got tips.

I made so much more money than he did in his realtor job. He was like, I should have done that. I ended up getting a promotion at the restaurant and a raise. I was like, this is not even my job. This is just so I can get extra money. But it ended up being a lot of fun. It was a lot of work. Worked every single day for 60 hours, 70 hours a week.

But it was totally worth it. What did you do, Bill? Yeah, I was working retail. And then also on the weekends when my friend needed some help, he owns his own electrical business. So he would call me, Bill, do you want to come out and work? And we would just go out and nail it. So every little bit of time. And the thing is that we supported each other.

So when she had to go to work, I would take care of the house, vice versa, doing the cooking, taking care of the kids, all of that. But at the end of the day, it was all worth it. And it's not forever. No. That's right. It was just until you get done. Yeah. And now you're free.

That's what I wanted to ask. How long before you feel the emotional momentum of working those crazy hours, you go, okay, but we're at least knocking out these debt snowballs one at a time i mean how long before you realize this is worth it the biggest hurdle was a student loan because it was so large um it was great doing the little ones were like oh my gosh we totally got this really got this in the last year it was like okay we just got to go full board and we just worked work work and every time i made that payment and saw it go down i'm like oh my gosh it's even lower than it was before and it was just it was that momentum of we're almost there it just seeing the little pieces fall apart and then get to the big one and then slowly chip away at it

that was very rewarding very rewarding how much of the 122 was the student loan 80 000 80 okay it started 50 but i've been paying on it for 20 years, and it grew to 80. That plan worked. Yeah, it did. Oh, my goodness. What do you tell people the key to getting out of debt is now that you've done it? You're never too old. We still feel like we're late in the game, but we have lots of time now to catch up.

If you don't start, you're never going to be in this place, and it's an amazing spot to be in. Very cool. Proud of y'all. Well done. Thank you. You're very neat people. A lot of fun watching you.

It's very, very good. I had the opportunity to start over in my 20s from a bankruptcy, as you may know, and it is no fun. It is absolutely no fun. And you guys guys did the same thing you had a little delay before you did it but we did the same exact thing we reached the point we said okay uh this plan is not working we need a new plan uh keep doing the same thing over and over again expect a different result that's the definition of insanity and we you came to the same conclusions that sharon and i did we got to change something. And don't really care what anybody thinks at that point.

We're not taking a poll. We don't care if you like our plan. We're going to do it. And you're willing to do anything. Even talk to your brother about it. I mean, oh, my gosh. So I'm sure he was cheering you on and happy for you. Yeah.

Yeah. Very good. Towards the end, we paid off everything in October. And that's when I think karma caught up. I don't know what caught up with us. But my sister ended up passing away unexpectedly. Oh, my goodness. And I got in a car accident with a hit and run, and his car died.

And, I mean, we had just started our emergency fund, so we're both looking at each other going, are you freaking out? He's like, no. I'm like, are you freaking out? I'm like, no. So it was just that piece where we're like, okay, we have money in the bank. We can help with my sister's celebration of life. We can cash flow two cars.

We would have never been able to do that. We would have been such a more horrible situation if we weren't. One more mess on top of the mess. It would have been, yeah. So it's really brought us a lot of peace. Way to go. Yeah. All right.

We've got a copy of, we've got the live and give bundle for you. The copy of the total money makeover book for you to give or enjoy. Baby steps millionaires book to give or enjoy. And of course, Financial Peace University, which you've been through. And you can give that to someone now and pay it forward. Let's bring the young guys up and tell us their names and ages. This is Justin. He's 14.

And I have Benjamin here at 11. All right. Very cool. All right. It's 14, and I have Benjamin here at 11. All right. Very cool. All right. It's Bill and Amy, Justin and Benjamin from the Sacramento area. $122,000 paid off in 43 months, making $130,000 to $170,000. Lots of extra jobs. Count it down.

Let's hear a debt-free scream. All right, everybody. In three, two, one. We're debt-free! We're debt-free scream. All right, everybody, in three, two, one. We're debt-free! Yeah! That's how we do it. Woo! I love it.

This is the Ramsey Show. Our scripture of the day, Romans 12.2, Don't copy the behavior and customs of this world, but let God transform you into a new person by changing the way you think. Then you will learn to know God's will for you, which is good and pleasing and perfect. The old version that I have memorized says, Be not conformed to this world, but be transformed by the renewing of your mind. General Patton said,

If everyone is thinking alike, then no one is thinking. Amen to that. Group thinking is not thinking. Ken Coleman, Ramsey Personality, is my co-host today. Michelle is in Hawaii, Maui to be precise. Hey, Michelle, how are you? Hi, Dave. Doing good.

Good. How can we help? So I have a question. Our CPA has suggested that we get a cash balance plan. I don't know what that is. If that's a good idea. I would like some help. Who has suggested this?

Our CPA. Your CPA, okay. Has suggested you get a cash balance for what? For, well, we've maxed out our 401ks for the year. We've contributed the most to our IRA. So that is just something she suggested we look into. Okay. Are you self-employed?

We are, yes. Okay. I think she's talking about setting up a defined benefit plan. How many team members do you have? How many employees do we have? Yes, yes. We have about eight. How long have they been there?

From one year to five years. And then my husband and myself that are on payroll. Yeah, okay. And so you have a 401K at the company? We do, yeah. And you've maxed that out, okay. So we've maxed that out. Okay.

I have chosen not to do what your CPA is suggesting. My 401K is maxed out, my Roths are maxed out, everything's maxed out, and I have not done any defined benefit plans or any other internal pension plans because of what it would open me up to in terms of the contributions I have to make to the team, number one, but then in addition to the match that I have in their Teams 401k. Number two, there's so many restrictions and so many regulations on when you can access that money and what you can do with that money that I didn't care for the lack of freedom, so I have avoided this. Okay.

And you can certainly do what you want to do. If you want to continue to investigate it, what I would do is start to talk to someone in the investment advice world. Click one of the SmartVestor pros at RamseySolutions.com, the people we recommend. I think they will tell you the same thing I did. Sometimes, too often, CPAs, people in that world, and I come from that world because i'm a math nerd

uh the financial world the uh cpa world sometimes we get all caught up in the the mathematical gymnastics and we enjoy finding products that will do these gymnastics. But then when we put those products out in the wild, in actual real life, they end up sucking pretty badly. The gymnastics of the math is kind of a brain tease, and it's kind of fun to think through. Ooh, that's an unusual way. Okay, we've maxed this out. Here's a new trick we can do. But usually when I get down in those things, you you can get stuck in them i mean you can get

stuck in a big hole there and uh i've done that a couple of times uh over the years in business with some legal advice that was that kind of like setting up structures for companies and that kind of stuff really made huge mistakes in that regard uh i've not made the mistake you're getting ready to make, though. That's a new one. I avoided it because I saw the same signs around it. And so at some point, you reach a point, I've maxed out the normal stuff, the easy to understand things, the simple things, and the rest of it, I'm just going to end up paying some taxes on. Oh, by the way, if you buy real estate and it goes up in value, you do not pay taxes on the increase in value until you sell it. So real estate grows

tax deferred. It's called a capital gain. Oh, by the way, so does a low turnover mutual fund. And it's real simple. Like I've got money in index funds because they're low turnover. I've got money in real estate and I don't pay any taxes on any of the increase in my net worth because I don't cash them out. I don't sell them. Now, if I sell one of those mutual funds or one of those pieces of real estate, I will pay taxes on the gain, but I can grow wealth without paying taxes and without getting caught in one of these products or processes that are, in my opinion, mathematical gymnastics. So I don't do them, Michelle. And you can learn about it further and decide if I'm crazy or if your CPA is just caught

up in that. I don't think your CPA is a bad person. I just know that type of person, those of us that love math, will do something just because it's fun with the math if we're not careful. And that will get you into a mess. Lalani is with us in Wyoming. Hi, Lalani. How are you? I'm great.

How are you? Better than I deserve. What's up? Well, I have a question about my timeshare. I've been trying to get rid of Can't Sell It. I had an exit team, but they failed to exit me. And so I'm wondering if I can just quit claim deed. Problem is you don't have a deed.

Is that different than a warranty deed? A quit claim deed is different than a warranty deed, but you don't have a deed to your timeshare. You just own a portion of one week or a week or a portion of a year or whatever. And, you know, timeshares are what those of us that hate them, we call them legalized fraud. It is the worst business on the planet. They screw more people than anybody else i'm so sorry i'm sorry the exit didn't work we've worked with companies trying to get people out they got in

trouble i mean it's a that industry is filthy it's a filthy horrible business and you should anybody time someone says timeshare run out of the room like your hair is on fire. Because it's getting ready to be. Somebody's getting ready to light your freaking hair on fire. Get out of there. So I truly do not know a good way to get out of a timeshare. But quit claim deeding. It won't work because you don't have a deed.

You have to have an ownership position. And with a timeshare, you don't technically have an ownership position. You have a contract, and that's different than an ownership position. An ownership position where you have a deed is recorded at a courthouse, and there is a deed on file with a register of deeds, which gives you the ownership position. Ken, this timeshare thing is just a debacle. There's powerful people that are protecting this scum, and that's what's really going on. It is a system product, and you're a victim. It's very lucrative.

It's very lucrative. It makes them billions and billions of dollars, and they keep screwing consumers hand over fist. And just stay away from anybody that says timeshare. Horrible product. Did I mention that it's horrible? Oh, yeah. Was I clear? I hope I was clear.

And if you sell timeshares, you are by definition scum. I hope I was not unclear. I think you got that one. Yeah, really. If your little boy sells timeshares, tell your little boy to get a good job and quit screwing people. Seriously. Oh, my God. Well, they're protected by legislatures

in state and in the federal government because of the money that they're donating even gotten some of the media on their side without they have dropped so much coin into attorney general's pockets that's right they've dropped so much coin into the media's pockets it's unbelievable yeah they are filth trash and nastiness i'm so I'm so sorry, Lilani. I don't know how to tell you to get out of it these days. There was a period of time that we were able to get a whole bunch of people out with the exit programs. The exit programs are falling apart. There's a few of them doing it still and doing it well. You might get a good attorney, sometimes a good attorney that will sue their butts off for the fraud that they conducted on you they'll

probably find a hole or two in the in the fraudulent sales presentation and sometimes a good attorney can get you exited you might try that but you're going to write some checks you're going to spend some money to get out of this mess i'm so sorry you can't even give them away no it's awful and i don't know who you'd give them to. Who would you give them to? Somebody you didn't like? I think so. My worst enemy. Here's my timeshares. That puts this hour of the Ramsey Show in 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. Hey, it's Ken. If you like what you heard in this episode and want to know more about getting started on the Ramsey baby steps, go to ramsesolutions.com and click on the Get Started button. We'll help you figure out the best next step for you

based on your specific situation. Again, that's ramsaysolutions.com and click get started.