The Ramsey Show - App - Never Fight About Money Again (Hour 3)

Episode Date: July 16, 2018

The show about you

Live from the headquarters of Ramsey Solutions, it's the Dave 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 am Dave Ramsey, your host. This is your show. Thank you for joining us. Open phones at 888-825-5225. That's 888-825-5225. I'll take your calls this first half hour of the show. In the second half hour of the show, we also

will take your calls, but Ramsey personality Ken Coleman of the Ken Coleman Show, one of America's most popular podcasts, and also a daily show on Sirius XM radio. And he talks all the time about your career, the income side of your equation. So if you have career type questions, this will be a good time for you to be thinking

about dialing in for the bottom of the hour, because that's when Ken Coleman will join us. Again, the phone number, 888-825-5225. Starting off this hour is Zeeshan in Houston. Hey, Zeeshan, how are you? I'm doing well, Dave. Thank you for taking my call. Sure.

What's up? So, I'm very fortunate to have parents who financed my college degree, so I don't have any student loan debt. Pretty much no debt whatsoever, except when I started to make good money, I started to spend good money as well. And I'm at a certain point in life where I feel like I can be doing more, you know, saving for my kids, saving for my family-wise. And I ended up buying a car that I really wanted, and I absolutely love it. But the more I look at the numbers, the more I think about, okay, what if I sell it and I downgrade how far ahead I will be? Or maybe I can just pay it off. I'm just at that situation, hoping to get your advice on it. So how much do you make?

What's your household income? From my day job, I'm right around 80, and I have a real estate business, so I do maybe about 20, 25. And you're married? Yes. Does your wife work outside the home? No. Okay, so you have $100,000 household income, and how many kids do you have? Two. And how much debt is on this car? $23,000. Okay. And what about the other debts that you have? I don't have any. Okay.

That's the only one that I have. What is this car worth? It's worth about $27,000 if I tell it myself. What's the other car worth? That's the only car. My wife, she just got her license. You just got her driver's license? Yeah, yeah.

She came over from my home country, and she just never came around to driving until the kids grew up enough to where they needed to be dropped off. Gotcha. Okay. And which country is that? Pakistan. Okay. Very cool.

All right. Well, the $23,000, the rule of thumb I use on cars or anything with wheels or motors is they go down in value. And since it's a big pile of stuff that goes down in value, cars and boats and lawnmowers and sea-dos and motorcycles and anything, all this stuff goes down in value, four-wheelers, right? And so you don't want to have more than half your annual income invested in things that go down in value. You don't. You're at a fourth right now, you know, $25,000 car out of $100,000 income. So you're not breaking the rule that way.

The second rule is can you be debt-free within two years, not counting your house? And the answer is yes, easily. You should be debt-free in one year, not counting your house. You should pay this car off in 12 months and get yourself on a written budget. And then the next time you get ready to buy something, whether you really want it or whatever it is, we pay cash for it if you can't pay cash for it you don't buy it and that puts you in a position to be in control then of your most powerful wealth building tool which is your income so i would keep the car since you told me you love it it's a car you

really really like and uh would i would you have bought it if you didn't own it and gone into debt? No, I would not tell you to do that. But you're there now, and you can pay it off inside of two years, really inside of one year. And it's a small percentage, small enough percentage of your overall income that you can afford to take the losses that you're going to take on that car. Now, when you get ready to buy her a car later on, don't spend more than about $25,000 on it and be sure you pay cash for it.

So it probably means you're buying her a $5,000 or a $10,000 car to get started in with cash as soon as you get this one paid off. That's what I would do. Hey, thank you for the call. Terry's with us in Claremont, new hampshire hi terry how are you i'm good dave how are you better than i deserve what's up uh i have a 10 year old daughter and she just recently got signed by a modeling agency and i want to know if it would be smart for me to do some kind of savings for her, like a Roth IRA.

I don't know if she's too young for that, but some kind of savings. We already have a 529 in place for her that we put money into every month, and I don't want to be dependent on her money because this is her money, and I want to make sure that she gets the full benefit of it. Okay. And what do you think she's going to be making if she has a really good year? The agency said roughly $30,000. Oh, my goodness.

How wonderful. Yes. I was very surprised. Okay. Well, if she's going to make that much, then I would use her money to fund the Roth IRA that she earns. Okay. And the rest of it you can bank. All she can do is $5,500 like anyone else can do.

There's not an age limit on Roth IRA. The only limit is once you're 50 years old, you can put $6,500, but that doesn't even come into play. The only limit is it has to be earned income, and, of course, she has to file a tax return. Right. Which making $30,000. Yeah, she's going a tax return, which making $30,000. Yeah, she's going to be doing that anyway at $30,000 for sure.

But you can do a Roth IRA up to $5,500, and you would invest the rest of it for her benefit in some good mutual funds. And what I would do is just tell you to sit down with one of our SmartVestor pros and get your hands around what to do, why to do it, when to do it, that kind of thing with some mutual funds on her behalf. And I would budget some of it for her to spend on her now. Not a lot, but she ought to enjoy some of it. And I would budget some.

Yeah, she has your savings piggy banks. Good. Then she knows to give, save, and spend, right? Yes, sir. We're always going to give some, save some, and spend some. In this case, it's such an extreme scenario for a 10-year-old to be making $30,000 that I would invest most of it. Okay. And I would have a little of it for play money, and I would encourage her to give some of it.

And just to teach her to grow those muscles. And this could turn into a lot of money if it's invested now and not touched for, you know, 10 or 15 or 20 years. That could turn into some serious money here. The Roth IRA money will turn into a bunch of money. Any of you parents that have kids that are making any kind of money, like, you know, $1,000, $2,000 and above, and you are able to put some money in their name, let them keep the money they earn,

open a Roth form, file a tax return, you can put up to their earned income a maximum of $5,500. So some years I put $1,500 or $1,700 in my kids' name when they were 8 or 9, and I filed a tax return for them to do that. It cost a little bit of tax money, a little bit of money out of my pocket, but boy, did it set them up well for the future.

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That's CollectionBully.com. In the lobby of Ramsey Solutions, Daniel and Vae are with us from Houston, Texas. Welcome, guys. How are you? Doing great. Thank you. Cool. And so you are all the way to Nashville to do your debt-free scream. Yes, sir.

I love it. Very good. How much have you paid off? $200,000. Very cool. And how long did this take? Roughly seven years. All right.

And your range of income during that time? Starting about 60 up to 130 last year. Okay, cool. Based on all those numbers, I'm going to guess you paid off your house. Yes, sir. All right. Yes, sir. I love it. I'm looking at weird people. Yes, sir. Based on all those numbers, I'm going to guess you paid off your house. Yes, sir. All right. Yes, sir. I love it.

I'm looking at weird people. Yes, sir. No debt at all. None. None at all. How old are you two? 31 and 34. And you have a paid-for house in Houston, Texas.

What's it worth? About $300. Woo-hoo-hoo-hoo! Love it. What do you guys do for a living? I'm a stay-at-home mom. Mm-hmm. And I'm in sales.

All right. What do you sell? Electrical supplies. Good. Very cool. What do you guys do for a living? I'm a stay-at-home mom. And I'm in sales. All right. What do you sell? Electrical supplies. Good. Very cool. Good for you. What kind of debt was the $200,000? Was that all the house?

At the very start of our marriage, we had a truck loan. We had some college to pay for. We cash flowed all of that. We had two babies that were about $35,000. We paid off our truck cash um cash flow our school cash flow so we added in the 200 it wasn't exactly debt debt but it was something that we oh that was included in the 200 the stuff you cash flow that you paid for the house was 165 okay and the 35 was other stuff that you just paid along the way. Yes, sir. Okay. Gotcha.

Cool. Way to go. Good for you guys. So have you been married seven years? Married going on nine years. Okay. So what put you on this journey seven years ago? How'd this all start?

We got married in 09, the very end of 09. And our first year, year and some change, it was very difficult. We had a lot of money fights. It was very stressful. I'm a saver. He's a spender. They were offering Financial Peace University at the church that we attended. He suggested it, which was really weird. He got tired of the fight.

Yes. Oddly enough, we had a real struggle just trying to pay for financial peace. We had a hard time coming up with the $100 to pay for the tours. I was like, no, we're not going to spend any more. I don't know Dave Ramsey. It's the best $100 that you can spend. Absolutely. Definitely worth it.

Absolutely. Well, thank you. I'm glad it was a help to you. You guys are heroes. You took control, and now in your early 30s, you got a paid for $300,000 house. Yeah, that was a good return on investment. Absolutely. Absolutely, yes, sir.

Very good. But you did all the work, and it was all your money. All we did was show you how. Well, good for you guys. Very well done. How does it feel to have a payment in the world? Yes, amazing. Either one of your families live like that?

No. No. Everyone thinks families live like that? No. No. Everyone thinks we're weird. You are. And just, you know, abnormal people. You are. Because normal's broke. Yes, yes.

Yes, it is. And we actually went through Harvey, and we came really to thank you, because if we didn't have that money. And our emergency fund. Harvey hit on my birthday last year obviously and um we cash flowed everything out of pocket right off the bat to get our house back in order because of our emergency fund thank you wow we were able to start on the project right away what did it do to the house oh we got about half of it was gone we got 13 do to the house? Oh, we got... About half of it was gone. We got 13 inches in the house.

It was a one-story home, so we lost 95% of our goods. Oh, my gosh. It was just a mess. So the insurance picked up some of it. They did. We had to kind of haggle with them towards the end of last year and got that stored away. The deal there was they didn't want to cut a check to us directly. They wanted to cut a check to us.

To everyone that we used as far as every single... But you'd already paid all them. Exactly. And finding those guys was nearly impossible. So our only choice was just either you pay it off or you have to look for these guys, get their W-9s, everything

in detail. And we said we couldn't do it. We're just going to pay off the house. And, I mean, we lived like beyond broke people. People gave us $10, whatever it was, because it just wasn't in the budget. Our budget was $2,500 one month, and that's what we lived on. It didn't matter if we made $6,000. It didn't matter what we made. $8,000, whatever. It didn't matter if we made $6,000. It didn't matter what we made. $8,000, whatever.

It didn't matter. But finally, the insurance decided to cut us a check, and we had to come up with a difference. It was about $40,000. In the last eight months, we just scraped together every last penny, lived like broke people. And I had a bonus come to me at the start of this year. Once I got that, that was it. Finished it off. Went to the bank on March 2nd and got that money over.

So, you know, old Harvey turns into actually being a blessing when it's all said and done. Yes, sir. If it didn't rip your heart out in the process. But, yeah. Wow. Wow. Good for you guys. You persevered.

You fought through it together. You've got to be proud of yourselves. I'm proud of you. It's a guys. You persevered. You fought through it together. You've got to be proud of yourselves. I'm proud of you. It's a great story. Thank you. Do you have people cheering you on? No. Not as many.

More people telling you you're crazy, huh? Exactly. Exactly. Okay. Well, they've got to listen to that Toby Keith song now, How You Like Me Now. That's right. I love it. Well done, you guys.

Very, very well done. What do you tell people the secret to getting out of debt is? My biggest thing is to believe in yourself. I mean, it's all worth it. Our kids are worth it. We changed our family tree. Yes, you did. Yes, sir.

And what I say is it's still a 90s Lord and just do it. You know, everybody's sitting on the sidelines, just kind of not sure if they want to do it or not. Sometimes the hardest thing is getting started. I know so many people that are doing the Dave-ish plan. Yeah. Yep, not doing the real thing. And then either you do it all or just, you know, the budget is worth it.

Every dollar, the $100 that you pay, the first month that we did it we saved like twenty five hundred dollars and it was crazy that we even considered not paying for the for every dollar every dollar and it was just amazing wow very good well i'm glad we were of service so you're holding the sign what's the sign say it says we are debt-free, $200,000 paid off, no mortgage, Bean family. I love it. So for your wall, huh? Yes, sir.

I love it. Very cool. Well, thanks for letting me sign that and letting me hear your story. I'm very proud of y'all. Thank you. Well done. Daniel and Vae from Houston, Texas. We have a copy of Chris Hogan's book, Retire Inspired, for you.

Of course, that's the number one bestseller in the next chapter in your story for sure. You're going to be millionaires and outrageously generous along the way yes sir and you are totally on track like they said you've changed your family tree very proud of you guys very very well done all right 200 000 paid off in seven years that's the house and everything, making $60,000 up to $130,000 in their early 30s, and they're completely 100% debt-free. They changed their family tree. Count it down. Let's hear a debt-free scream. Three, two, one.

We're debt-free! Love it. Well done. Great job, you guys. Great job. Man, oh, man, oh, man. That is fabulous. Well done, you two.

That's exactly how you do it, man. You just lean in, and whatever comes at you, you fight it off, and you scratch, and you claw, and you make a difference, and you determine you want to be weird. You don't want to be normal anymore. Coming up at the bottom of the hour, if you've got questions about your career, the Ken Coleman of The Ken Coleman Show is going to join us. He is the host of The Ken Coleman Show, Ramsey Personality on SiriusXM

and one of the more popular podcasts around, all talking about your career choices. And we'll take calls about anything, Ken and I will. We'll talk to you about whatever you want. But you got one of the house experts involved on that side of things. And we'll talk about life and careers as well as life and money right here. So jump in and join us. The phone number, 888-825-5225. And if you are looking for fun and practical ways to save money this summer,

check out The Rachel Cruz Show. It's a new video series from Ramsey Personality Rachel Cruz on YouTube. This week's episode is about connecting with your spouse about money. In this episode, you'll learn how one couple paid off $57,000 in less than two years. And listen to this, the six money conversations you need to have with your spouse new episodes air every two weeks on facebook and youtube and so if you miss one you can watch it on demand at rachelcruz.com you can register for rachel's youtube channel the rachel cruz youtube channel and get these youtube shows as they come off the line they're fully produced great shows and uh

well she's just downright funny. You don't want to miss one of them. So the Rachel Cruze Show just came out brand new this week at RachelCruze.com. Okay, I need you to listen to this. Because one normal routine that everyone does can cause total chaos in your life. I'm talking about the simple act of using Wi-Fi. When you're on Wi-Fi anywhere in public or at home, you're at risk of hackers easily seeing every site you visit and every search you're doing online. It doesn't matter if you're on your cell or your laptop. They can see you visiting websites, streaming or downloading,

uploading photos, files, and more. I'm not telling you this to scare you, but I want you to be aware and take action. You need to download an app called Hotspot Shield. Hotspot Shield helps keep your connection on your own Wi-Fi and any public Wi-Fi secure. 600 million people worldwide have downloaded Anchor Free's Hotspot Shield. Download it right now. Just search Hotspot Shield on iTunes or Google Play or go to HotspotShield.com. You can be secure in seconds.

Download Hotspot Shield by anchor free today. Joining me this half hour, Ramsey personality, Ken Coleman of The Ken Coleman Show on Sirius XM 132 on iTunes and Google Play as a podcast. One of America's most popular podcasts. You can follow Ken on social media at Ken Coleman Show. That's for Facebook and Instagram at Ken Coleman Show. That's for Facebook and Instagram, at Ken Coleman on Twitter. And if you want to learn about careers, there's two sides to this money equation. We talk a lot about the outgo side. The income side is part of the equation.

And sometimes I say things pretty simple and profound, just like you need to make more money. That comes up, doesn't it? It does, a lot. It's important stuff. Because work, as you say, is our greatest wealth-building tool, and it's also our best dream-building tool. Yeah, because you get to live out the dream, live in the dream without any sarcasm when you're saying it. Well, you're going to have thing is we don't talk about it enough, I think, because, you know, the debt-free screams that I've had today, every single one of them during the time, I'm looking down the list, every single one of them, all three of them today, had an increase in income during the time they were getting out of debt. Now, some of them pick up extra jobs.

Some of them just go, you know, I can make more money if I just went to this. That's right. Yeah. You kind of have that thing with go, you know, I can make more money if I just went to this. That's right. Yeah. You kind of have that thing with yourself, you know. And, you know, sometimes it is you're just working and you're focusing because you have a goal. But if you don't have a goal to get out of debt or to build some wealth or to give more or some kind of a goal, then there's no reason to focus on your career. And people kind of, they go to sleep at the wheel. There's no reason to focus on your career and people kind of they go to sleep at the wheel

there's no question about it what we see today what we just saw with that beautiful couple out there in the lobby was purpose realized they had a purpose to get debt free now there are reasons for getting debt free maybe similar to to the thousands upon thousands of other debt-free screamers but it was very specific to them it It was a specific purpose, and that's why you see increased income. It's because human beings, Dave, we're creatures of progress. And if we're not progressing, in some ways we're dying. I mean, it's just the nature of the human spirit, the way we were created. And so that purpose, whether it be with getting debt-free or on my show,

we talk about just what is your purpose to work? What do you want to spend your life doing? Why are you here? How are you going to use the talents you've been given by your creator to make a difference? That's purpose. And that's what drives people. You can do some amazing things when there's a clear purpose.

You know, Earl Nightingale said, by the way, if you want to talk to Ken, you can right now. And we'll talk about careers. The phone number is 888-825-5225. I won't go to the phones, but I just thought of this. Earl Nightingale, the great motivator, said in his original recording, it was one of the first million sellers ever in audio recordings of a speech given, a talk given, not music, said people spend more time picking out a suit of clothes than they do their career.

And then they had this thought going through their head, I'm dying here! Right? That's right. That's exactly right. You know, it's shocking and it's saddening at the same time, you know, this idea that we all long to do something that matters. I mean, if you go back to your childhood, and it's one of the most popular questions you get asked by adults, you know, hey, what do you want to be when you grow up, Sammy, or Junior, you know? And as a kid, you got a pretty quick answer, you know?

Oh, a policeman, an astronaut, whatever it is. But even kids think about that. And I'll tell you this, Dave. This is so rewarding. We actually got an email from a dad the other day on my show. And he said, I want to let you know my son Chance and I went on a day trip. And he said he fell asleep, or I thought he was asleep, early on in the drive. So I turned off the radio and turned on your podcast of your show, the Ken Coleman Show.

So we got to where we needed to go. We got back in the car. And when we got in, I turned on the radio, his favorite station. And we'd been driving for two minutes. He said, hey, Dad, turn that Ken Show back on. He said, what are you talking about? He said, you know that Ken Show that we were listening to on the way? He said, I want.

And the guy goes, oh, the Ken Coleman show. And he goes, yeah. And he said, little 11-year-old chant said, I want to learn more about how I can figure out what I want to do when I grow up. And, you know, that's rewarding, not because the kid wanted to listen to the show. It's rewarding because it shows us that at the tender age of 11, we're wondering, why am I here? What am I going to be when I grow up?

That's the kid version. The adult version is, what am I supposed to be doing with my life? What's my purpose? For real. Leslie's in Kansas City. Leslie, your question for Ken Coleman and me. It's an honor to speak to you both. Thanks for taking my call.

Sure. What's up? Well, I'm 17 years into my current pension plan that I'm in right now, and I've thought a lot about moving on. There are opportunities that I've chosen not to take because I really feel like to walk away at this point from this pension would be a mistake. You lose it if you walk away. Well, I can roll it, and I know you prefer that. When I've heard you talk about it before, this is a defined benefit plan. So if I stay in 11 years from now at age 57, I can fully retire from that plan

and start drawing about $60,000 a year. And how much can you take as a lump sum now? It would only be about $70,000 a year. And how much can you take as a lump sum now? It would only be about 70,000 lump sum now. Let's see. And you said 11 years, so it would double to 140 to 2. Yeah, it won't quite provide 60,000 a year if you take it. Okay. So you're not going to get a full benefit if you leave now.

I got that. And what do you make a year now? Exactly. What do you make a year now? What do you make a year now? I make about $80 a year right now. And what are your opportunities? I could probably go $100 or more. Okay.

All right. And so you're giving up. There are no bad options because I love my life. I love this job I'm in. I could happily stay there 11 years, and there may be opportunities there. but I also would like to grow and do the next level up job. So I'm just really struggling with how to think about this pension and how to weigh that factor in because we are planning to leave a legacy for our children. So this pension and our retirement planning was a good way to have diversification so that we can protect the nest egg we're going to leave behind.

Gotcha. Okay. Well, yet, Leslie, you called because you're not so sure that is the smart, even though it seems safe. You called today because you're wondering about this. And I'm just curious, of the past opportunities that you have passed up, and you mentioned one that would pay you $100,000 plus, maybe no lid there, do you regret that you've passed those up? That particular one, no, because there was a commute involved, and I'd like to get my soon-to-be senior in high school launched into college. So I'm okay with passing up on a commute, but there are other opportunities that are nearer to where we live that I know will be coming available in the future, and I'm just trying to really get my head around, would it be a financial mistake to make more money

but walk away from the benefits of this pension? The amount of money you're talking about mathematically, no, it would not be a mistake. Exactly. Okay, and here's why. The extra $20,000 to $30,000 to $40,000 a year you would make over the coming 11 years would amount to more than enough to offset what you would lose in the pension. If you just lived on 80 and invested that extra money,

you would have more than you would by staying and making 80 and putting money in the pension. If you invest $20,000 to $30,000 to $40,000 a year more in the coming 11 years than you are now, okay? You following me? You will have more than the difference in what you basically are going to get about $30,000 or $40,000 a year off of your rolled over pension. Okay, so you're only losing $20,000 a year going forward. And you will have made $20,000 a year at least for 11 years. So that's at least $220,000 plus all the value that that would have grown to. It's another half a million dollars.

So you're probably missing between a half a million and a million by staying. Okay. Something like that. If you want to do the actual calculation, you can sit down with one of the smart investor pros, and they can walk you through it. But don't stay for a pension. And I love that you said at least, because we know if she's challenged, she wants to challenge herself. You're probably going to make a lot more. A lot more.

Yeah, she's left more money on the table than she's thought about, probably. Those pensions sometimes are really good things. Sometimes they're just golden handcuffs. The safe decision is not always the smartest decision. Well, safety's, if you've got an extra million, you've got more safety. That's exactly right. So there you go. The safety depends on where your safety comes from.

That's true. That's right. The illusion of steady job. That's right. This is the Dave Ramsey Show. Can you believe this real estate market? Home shopping has become so competitive. There's a ton of new buyers in the market, and bidding wars are the new normal. Folks are under a lot of pressure to offer more money to get into that house. Don't do that. Get certified instead. The Churchill Mortgage Certified Home Buyer Program is a game changer. You can quickly position yourself as a more reliable buyer and you get an upper hand

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761 Old Hickory Boulevard, Brentwood, Tennessee 37027. Our scripture of the day, Matthew 633, but seek first the kingdom of God and his righteousness, and all these things will be added to you. Max Licato said, A man who wants to lead the orchestra must turn his back on the crowd. Joining me this half hour, answering your questions about career and income, Ken Coleman of The Ken Coleman Show. You can hear his show on SiriusXM 132, and a very, very popular show.

And the podcast is going Zoom Zoom as well. Recent episodes on the podcast, How to Ask for Career Help Without Making It Weird, Climbing the Ladder of Success Without Regret, and the Three Benefits of Proximity. If your resume needs some work, a boring piece of paper will do you absolutely no good. But there are some things you can do to a resume that will actually help you land the interview, which is all they're good for. They're not good for anything else.

So go to KenColemanShow.com for the free PDF. KenColemanShow.com for the free PDF. And Ken, this PDF is more than like a one-pager. It's like 15 pages of notes on what to do exactly, right? Yes, you actually have to turn your mic on to be on the radio, Dave. I should know that. But this resource is going crazy because what we've done is we've taken this great source of angst with people submitting resumes, and we've showed them how to flip the resume.

So we not only show you how to do it, we tell you why. We walk you through the process. So when you look at this template, you go, okay, it makes total sense. And what we do is we're telling you to start with relationships. Lead with relationships. People that you know in that organization that you're trying to get a job with. Or somebody knows. That's right. You don't have to know them personally.

Your friend Ken knows them. That's right. Ken told me to get in touch with you. Could be an acquaintance. And do this. Whatever it is. But personalize each. Because just sending out these massive numbers of resumes is a complete freaking waste of time.

Yeah, it's ridiculous. And we also know that when you even get a resume through to somebody, that the average hiring manager is spending six to 60 seconds looking at that resume. Now, you just do that exercise at home. That's not a lot of time. So what are you going to do there? You've got to stand out. You've got to get their eyes to register something different, and it'll work. And so what we do is our resume leads with relationships. First, we've got big, bold headings.

Who I know is the first thing they're going to see. Then the next big heading is why I'm here and how I can add value as third. Those first three headings, they hit hiring managers in a different way. They've never seen a resume look like that. And it's a compelling way. And I liken our resume to a brochure, Dave. You know, you see a brochure. Brochures are designed, whatever they're marketing or selling, they're designed to elicit a phone call or a website visit.

And that's what we want our resume template to do. It's designed to get you a phone call so you can get in there for an interview. What you do from there, that's up to you. This resource is free as a PDF. You can download it going to KenColemanShow.com. Anthony is in Cincinnati. Hey, Anthony, your question for Ken and I. Good afternoon, gentlemen.

It's a pleasure to speak to you both. You too. I recently just got hooked up listening to you on XM, so at this point I'm glad I caught you at the right place at the right time. Perfect. How can we help? I've been in Cincinnati for two years. With it, I went into an industry.

I had no knowledge of it. It was an insurance industry. Lasted there about 18 months. With that, it's been pretty nauseating. And so with it, I'm trying to get out, and I really haven't looked for a job that I really appreciate, something that I can make a contribution to people, something that's rewarding, something that I feel good at the end of the night and willing to get up the next morning and tackle. So I really haven't accomplished that yet. How old are you?

I'm 63. Okay, cool. When was the last time you did a job like you're talking about uh last time i did a job like what that mattered and that you felt good at the end of the day and all that uh i have a teacher by education and an entrepreneur by heart i started a business and it's up north i've had it for 35 years. Right now it sits a little bit dormant. It's a power wash, mobile cleaning business. That has been something I've been thinking of bringing back down or bring down here and starting it up in Cincinnati, which seems to be a need. So you had a good time doing that?

I had an excellent time doing that. Yeah, I'm good at it. Again, I have communication skills, I have selling skills, I've been selling all my life. So that portion comes very easy to me. I enjoy the work. It's very gratifying. It's good if you have ADHD because every job is different. So that seems to be where I seem to be going. But the other part of me, the heart part, I took care of my folks. I was a caretaker for a few years. I like to be a mentor. I like to be going. But the other part of me, the heart part, I took care of my folks. I was a caretaker for a few years. I like to be a mentor. I like to be a counselor.

Like you said, I was a teacher way back in the farm world. So I'm in a dilemma at this point. I don't think you're in a dilemma. I think there's a tremendous amount of clarity you just shared with us. You just detailed out for Dave and I a business that you have really enjoyed and you're talented at it. So that's the talent equation. Am I good at it? You really enjoy it. That's the passion part of the equation. The work fulfills you. And this idea that you want to help people, we all want that. And so how can you help people in that power washing business if you

bring it to Cincinnati? And my thought was, if you have the heart of a teacher, which is what I think you've just said, and you enjoy mentoring, how about you grow that business and you find a couple of young fellows that you can teach and mentor in the power washing business and maybe take care of the next decade, 15, 20 years for you is helping them grow that business. And maybe you train them to run that business for you. But you mentor and teach and guide them on how to do it, not just the craft itself, but how to engage with customers and how to grow the business. I think that could be a very fulfilling opportunity for you.

But you've just got to find ways to do something that you enjoy with what you're good at, and you've outlined something that's very clear. Oh, it's very clear. Done it before, liked it, and got in the insurance business and got nauseated. Mike is in Kansas City. Hey, Mike, your question for Ken and me. Good afternoon, gentlemen. I'm 52.

I've had, for the last almost 25 years, a very successful career in the automotive parts and service business. We're debt-free, house is paid for, wife's got a great job, saving for retirement. So I have to admit, Dave, I constantly hear your voice, save for retirement, save for retirement, save for retirement. So as I'm thinking about this plan, it's kind of a little pressure for me. But I'm looking at changing careers, taking the summer off, doing some things. We both have worked 55, 60-hour weeks for 10 years now. So some stuff around the house to do, kind of get a plan in place,

which I think I have, to return to school. I'd like to change careers, get into the field of horticulture. Grew up farming, loved it, have been away from it. Why do you have to go to school to be a farmer? Well, not so much to be a farmer, but to get in the agricultural business. I've been a very good salesman, a very successful salesman for about 10 years now. And as I look at these different jobs and as I talk with people, they want you to have some type of education in the horticultural field, which I get that.

There's a lot of crop science and plant knowledge that you have to have to do that. I'm just nervous that at my age that I'm stopping everything to change careers like that. Obviously, in the automotive world, you can do that. Why? Okay, I'm a little short on time. Why do you have to do it so herky-jerky? Why can't you go to school at night? The classes aren't, it's one of those programs where the classes aren't in the majority of

the day. I'm going to challenge, Mike, I'm going to challenge you to look at moving eventually into a sales role in the horticultural farming industry. Learn more about the stuff that they tell you you need to go to school for and then work your relationships because you're a great salesperson, a very successful guy, you're debt-free, you know how to click off a goals list. Again, I don't think you need to go to school at all. I think you need to use your

experience and talent and get into the the industry you want to be in horticulture horticulture farming and sell something in that business and on the side he was saying to take the sales job that they wanted to know the plant science and all that that's possible it's possible but i'm not sure that's a uh a four-year degree that you have to take off and just shut down everything. I just don't think you have to do a four-year degree to get there. What I'm always looking for, Mike, is this. The boat's not close enough to the dock here. That's right.

You're making this leap towards the boat, and that's what's scaring you. It scares me a little bit, too. Because what if you get out there and you decide you don't like it? I mean, I would like for you to take some baby steps, no pun intended, towards your some smaller steps, incremental moves in the direction of your career. Whether it's take the night classes or start working in one of these positions weekend and evenings or something. Take a weekend job at whatever, selling. And back your hours down at your other place without completely abandoning it before you get going. Ten-second thought.

Yeah, I think he's already debt-free. Stock some more money away and then take that time that you can put into it because you've planned for that back-off in income. I'd just like to see a more gradual, incremental strategy. Challenge the process on school. Always. Always. That puts it. Thank you, Ken Coleman. Thank you for having me. The Ken Coleman Show on SiriusXM 132.

Be sure to join it. This is the Dave Ramsey Show. 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,

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