The Ramsey Show - App - No More Excuses...You HAVE To Do This! (Hour 2)

Episode Date: June 16, 2021

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Music Music Music Music Music Music Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, it's The Ramsey Show, where debt is dumb, cash is king, and the paid-off home mortgage has taken the place of the BMW

as the status symbol of choice. I'm Dave Ramsey, your host, flying solo today. Ramsey personalities are all out working. Not a bad thing. So here I am hanging out with you guys. Open phones at 888-825-5225. That's 888-825-5225. Anita is with us in Pensacola to start off this hour.

Hi, Anita. How are you? Hi. I'm fine. Thank you very much. Good. How can I help? Well, here's the little rundown on it.

My husband and I are 65, and we hope to retire in about five years. We're planning to work until 70 or if one of us should get disabled then we would retire then but we are out of debt we have our emergency fund 15 is going into retirement right now good uh we're at a point that we were thinking to go ahead and start paying off the house. Good. But here's the thing. Since we only have about five years to go, and I don't know. I haven't looked at the figures just in the last little while.

Last year when we met with the Smart B buster pro we had a little bit less than a hundred thousand i mean two hundred thousand in retirement but that was just as we were starting the fifteen percent so at this point we don't know we have a like i said we have a small mortgage and it's at 4.875 in other words four and seven eight um so we're trying to determine whether we should just start putting all that extra into retirement or paying off the house uh you should put 15 of your income away and everything else you can find in your budget you use to pay off your small mortgage what's your household income uh about 75 000 between the two of you right

and how much is the mortgage balance the mortgage balance is about $63,000 okay alright and so if we really lean on this mortgage because it's an emergency

because it kind of is, if you paid, you said $63,000, right? Right. You make $75,000. So $32,000 a year would pay it off in two years. $21,000 would pay it off in three years. Okay. one would pay it off in three years okay so sounds like two thousand dollars a month on the mortgage while you're putting at least 15 percent away now that puts you three years that puts you three

years later your house is paid off because here's the thing okay you need both going into retirement and let me walk you through why you need a paid for house and a nest egg because a paid for house is your your housing is your most expensive line item in your budget if you don't have a paid for house and a nest egg because a paid for house is your your housing is your most expensive line item in your budget if you don't have it paid for if it's if you're renting it goes up every year while you try to live from 70 to 90 over 20 years your rent's going to go through the roof so number one you own number two you get it paid off and then you've gotten rid of the biggest item on your budget your house payment okay okay so you've stabilized your golden years by getting the house paid off and then of course we need this

stuff like food and electricity and gas for the car and that means we need to have money coming in from retirement which is the nest egg side and so you know, but I think you're going to be fine. Here's, let's run some numbers. Let's say you did $21,000 a year or you did $2,000 a month. You can do that. You're just going to get on a tight budget and watch what you're doing because this is important. That sounds tough.

It's very tight. It's very tight. Tighter than you've ever lived on. I know that because you don't have any money much and you're 65. No. So it's time for you to tighten the screws up. Well, we pay the kids college. I know, but here we are today.

It's time for you. You've got to do this now. There can't be any more reasons. There can't be more reasons. You've got to do it. Okay. So $2,000 a month puts you out of debt in under three years, slightly under three years.

Okay? Okay. And now, the $200,000 you said was two years ago. Well, about a year and a half ago. Okay. If you didn't add anything to that, and you will be, that $200,000 will double about every seven years if your mutual funds are earning around 10% or more. And they should be. Okay?

So $200 is going to be $400 when you're 70. Okay. Because there's two years ago, seven years to 70, right? Right. So that's $400, plus you're going to be putting in another $1,000 a month, which is $12,000 a year, which is 15% of your income, into retirement. And you've already been doing that, so you've already got a little more. And you're going to be doing that for the entire five years.

Oh, wait, no. You're going to be doing that only for under three years. And then there's no house payments, so now you can go to $2,000 a month going into nest egg. Oh, okay. And $2,000 a month is $24,000 a year, plus $12,000 a year for three years. There's another $150,000 plus what it grows. Okay. So by 70, you should have $600,000, $700,000 in a paid-for house if you do exactly what I told you.

But if you go screwing around and keep messing with this and coming up with excuses, you're going to have a mess. So you need to act like your hair is on fire for the next three years. $2,000 a month plus $1,000 a month into retirement, that's $3,000 a month. By the way, $3,000 a month is $36,000 out of $75,000. That leaves you enough to live on. Okay. But you ain't living large. You're living small.

No. No. We never have lived large yeah so that you can have some golden years from 70 and on right okay yeah this is this is within your reach the math says you can do it now personal finance is 80 behavior it's only 20 head knowledge we just gave you the 20 head knowledge now you got to go do the behaviors which is by the way is the hard part i mean the math of becoming wealthy is not hard it's sixth grade math but nobody does it so hey good question thank you for joining us here's what's interesting if your mutual funds average 12 which the stock market has averaged a little over 11 and a half since it began so if your mutual funds average 12%, which the stock market has averaged a little over 11.5 since it began.

So if your mutual funds slightly outperformed the market and you made 12% and you put $100 a month away from age 25 to age 65. $100. Pizza breath. You spend that on pizza. $100 a month. Every month from age 25 to age 65 is $1,176,000. Everyone in America should retire a millionaire. If you grasp that knowledge.

Oh, wait. You have to do the behavior. Oh, there's the problem. The idiot in my mirror is a problem child. If I could get this guy to behave, he'd be skinny and rich. But he's got issues. The behavior, people. It's the behavior.

It's not the math. The math, people. It's the behavior. It's not the math. The math is not hard. We make enough money in this country to be wealthy. But it's controlling our little selves. Me too, baby. That's the problem. This is the Ramsey Show. You know, I heard a sad and touching story recently.

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use the promo code Ramsey when you go there you can save all kinds of money today's question my I've been endorsing this company a long time, and the reason is they're incredible. Use the promo code RAMSY when you go there. You can save all kinds of money. Today's question, my husband and I are 27 years and 28 years old. We each have our own small businesses, recently began our debt-free journey. We're in baby step two, getting out of debt and not investing. I'm wondering what is the benefit of investing into a retirement account that you can't touch until retirement age, as opposed to other mutual funds with similar growth that you can access more freely.

Taxes. Let me explain it to you. Let's say, you know, right before the break I said if you put $100 a month away from age 25 to age 65, you'd have $1,176,000. If you put two away, you'd have $2.2 million, $2.4 million. Okay? So $200, which for most of you, once you're out of debt and have your emergency fund, doesn't even equal as much as you should be, which is 15% of your income.

But let's just use $2 million. You get to retirement, Casey, and you have been taxed all these years on all of that money as it has grown. And so, in other words, for you to end up, when you would have ended up with $2.2 million for $200 a month in that example, you would have ended up with a million dollars. Okay? Let's say you put it into a roth ira now 200 a month is 2400 a year for 40 years is like 80 grand 100 grand okay but there's two million dollars in there you put in 100 grand the rest of the money from 100 up to 2.2 so 2.1 million dollars is growth on the account if it's in a roth there is zero taxes on the growth if it's in a traditional ira or in a mutual fund as you would know out retirement protection

a hundred percent of the growth is taxed when it comes out. If you pay taxes on $2.1 million, it's going to sound suspiciously like $500,000 or $600,000. So this word Roth in this one example where you're only saving $200 a month, which is not much, this word Roth is worth around $600,000. So this I want access to it because I might want to buy something costs you $600,000. Okay? So no, you do Roth IRAs first and foremost when you get to baby step four because the tax-free growth and the fact that the vast majority of what is in your account when you get to retirement is growth.

Only $100,000 out of the 2.2 in that example was principal. The rest of it was growth. And zero taxes on the growth is a $600,000 per $200,000 discussion, or per $2 million discussion. So it's a lot of freaking money in order to have access to it. Now, here's what's interesting, though, Casey. When you start saving 15% of your income and you have no debt and you start doing Baby Step 5 and putting your kid's college fund away

and Baby Step 6 to get your house paid off, oh, then we can start investing more, and some of that will be money that you have access to. I'm not 65. I just turned 60 this year, and I've never touched my retirement accounts, and I've done tons of other side investing because I've been out of debt for 30 freaking years. And you can invest a lot of money in addition to your retirement if you just saved a house payment. So that's what changes the entire equation right there.

So it's a big deal. It's a big, big deal. Antonio is with us in Charlotte, North Carolina. Hey, Antonio, what's up in your world? Hey, Dave, how are you? Can you hear me okay? Absolutely, sir. How can we help?

I'm happy I found you about a year and a half ago. I feel like I made a kind of terrible, terrible decision. I was down to my last two deaths on baby step two. I had a personal loan with about $5,300 left and a car loan that was about $5,300 left. My car was giving me a lot of issues. I had gotten a lot of work done to it. And so I decided to, a dealer gave me an offer more than the Blue Book value for it. So I kind of took that money and the money, they paid off the rest of the car. I took that money and paid off the personal loan. So now I'm, you know, I was left with, you know, the money I was left with instead of going out and buying a $4,000 or $5,000 car. I decided to go to the dealership and I bought a used 2014 Ford Escape with about 28,000 miles on it. I financed it, which was a terrible idea.

Um, and now I just feel it's the only debt that I have, um, now, but I just, I just feel terrible getting into a, uh, finance car for another five years.

Um, interest rate in about a $400 car payment, 6% interest rate in $400 car payment. So I just wanted to know your thoughts. If I should, I got it a week ago. Just wanted to know if, you know, if you think it's worth keeping, if it's being my only debt now and just paying off as fast as possible or try to sell it.

Sounds like you need to give up drinking. I'm kidding. But you woke up with a serious financial hangover didn't you yeah absolutely terrible decision yeah so you either go back out partying again tonight or you avoid the alcohol because you gave you a hangover translation you sell a stupid car dude yes sir i mean you knew that right i didn't have to tell you that you just want me to say it out loud for you i i i believe so i felt terrible about it ever since last i'm not going to shame you because i've done dumber stuff but the trick is here's the thing what i try to do when i do something stupid and man i have i have paid so much stupid tax in my life i have a phd in dumb man i have done so many stupid butt stuff

i've done stuff that makes you look like a genius okay and you're not okay but uh so i mean it's okay we've all been there there's a point now the question is this i always ask myself when i do something stupid and it leaves a mark like this where i like oh crap that was so dumb you know what i'm saying i try to like mark that down in my stupid book because i'm gonna do something else stupid i know i am but i just try not to do the same stupid thing again right and what you did here was you repeated a stupid thing because you got a car payment in the first place and you went and traded it for a different car payment that was bigger which is obviously perpendicular to your goal of being out of debt so the big lesson here is you looking in the mirror

and going i'm gonna get control of you that's the big thing you do what you want to do brother i'm not here to beat you up. I've done dumber, like I said. But if I woke up in your shoes, I'd sell that car this week. And then stay off the car lot. This is the Ramsey Solutions on the debt-free stage, Wayne and Sherry are with us.

Hey, guys, how are you? Hey, how are you? Very well. Welcome, welcome. Where do you guys live? We live in Kingsport, Tennessee. Oh, yeah, awesome. Welcome to Nashville.

And all the way over here to do a debt-free scream, how much did you pay off? We paid off $131,000, and it took us four years. Good for you. And your range of income during that time? $80,000 to $110,000. Okay, cool. What do you all do for a living? I work for Eastman Chemical.

And I just retired. Early retirement. I love it. Yes. Retired from what? What did you do? I had a small dog grooming business. Okay.

Because you don't look like a retiree to me. Really, not but i just done it anyway i like it very very good good for you what kind of debt was the 131 000 we had some a couple of vehicle payments a pull loan credit cards ah okay she kind of normal. How long have you guys been married? Almost 24 years. It'll be 24 years in September. Okay. What happened at the 20-year mark four years ago that made you decide, we're cleaning this up?

It hit me when I was 40. I didn't want to do it no more. Your 40-year-old birthday was a wake-up call. It was. It really was. That's cool. I wasn't getting any younger, and we had a lot of stuff, but we had no money. Mm-hmm.

And we was tired of living that way. Make plenty of money and don't have any. Mm-hmm. Exactly. It's like working for everybody else. It just hit us at the same time. We was just ready to do it and get it done. So what did you do?

How did you connect to us, and what's the story? We sat down and tried to do a budget on our own, and it wasn't working. Mm-hmm. And I was at my brother's house, and his wife, Linda, mentioned your name. Linda. Yeah. So we went, got home that night, got on YouTube, and seen some Dave Ramsey rants. And we were hooked.

So we signed up for Financial Peace University. Oh, wow. And our first budget, we was in the negative. I don't know how we made it. I would borrow from one credit card to make the payment on another credit card. Yeah, done that. And it was over, Dave. We just couldn't live like this anymore.

Enough. Enough. You really discussed it and said, game on. Discussed it, yes. Absolutely. And after we attacked a smallest debt, it was a QVC debit card. That was mine. That was hers.

And I can remember one night she was doing the budget and woke me up and said, we are in the green. It was $7 to the green. But it was a great feeling. But we didn't owe more than we was making. And after that, we wore it out. Game on. Turned up the dog grooming, turned up the overtime, turned down the spending, and here we go.

Sold my purse collection. Oh! That was hard at the beginning, but it worked out perfectly. So how much did your purse collection sell for? About, it was under $3,000, but it was about maybe $2,500, $2,800. Girl, you had some purses. I had about 50. Well, you just needed your life back anyway.

Oh, man, that was my stuff. That was my stuff. Wow, good for you. That's fun. That's fun. So what do you tell people the key to getting out of debt is? Budgeting. Absolutely budgeting.

Use your envelope system. Stuff it full of cash, and when it's empty, it's empty. You don't go use your, well, of course you don't get your credit cards, but don't use your debit cards even. When your envelopes are empty, you're done. Go home. Mm-hmm. Go home.

We stopped worrying about everybody else too. What other people think. It's almost impossible to win financially when you worry about what other people think. It is. There's a lot of pressure there. That's interesting.

You guys had a complete redo here. This is very cool. When you're going through Financial Peace University, nine weeks, nine different classes, which one of those classes did you go, oh, I knew this, and now I'm going to go do it? Pretty much all of them. Yes. It was just like a wake-up call. We were like, what were we doing?

And then we would go to one of your classes and we're like ah yeah do that what about you wayne the the budgeting part was really that was the one okay yes sir all right yeah getting that stuff under control very good well done guys very well done so in 24 years of marriage you spent the last four years getting out of debt is this the only time you've been debt-free in 24 years of marriage, you spent the last four years getting out of debt. Is this the only time you've been debt-free in 24 years? Yes. Only time. Okay. Only time.

I'm proud of you. Thank you. Very proud of you. Will you ever go back? Absolutely not. Oh, no. No. Not living like that.

Never. Good answer. And I hope our kids follow in our footsteps now, not in the past, but now. Start right now. Yeah. We're going to start you on this tomorrow. Wow. Well, way to go, you guys. Who were your biggest cheerleaders outside the two of you? My mom right now. Yeah. We're going to start you on this tomorrow. Wow. Well, way to go, you guys.

Who were your biggest cheerleaders outside the two of you? My mom and dad. Yeah. They pushed us a lot. Okay. And our three girls. We have three daughters. And Linda.

Yes. And Linda. Linda's got to be cheering. Yes. She's kind of the starting point of this whole thing. She was. Yes, sir. Yeah.

That's neat. That's a neat testimony for her yeah yeah so well done you guys well done we've got a copy of the legacy journey for you uh that's the next stage in your uh walk here as you become wealthy because you are heading that way now no payments and now you have control and now you have conviction and now you've got common sense and man you're ready to go can i say one thing dave the only argument we have about money now is which savings account we want to put it in. Yeah, that's a pretty good argument. There's worse arguments to have, that's for sure.

That's great. Very good. All right. And we've also got a copy of the Total Money Makeover for you, so you can give it to someone, pay it forward, and maybe start their journey. Maybe you're somebody's Linda. And get things going.

Way to go, you two. Wayne and Sherry from Kingsport, $131,000 paid off in four years, making $80,000 to $110,000. Count it down. Let's hear a debt-free scream. Three, two, one. hear a debt-free scream. Three, two, one. We're debt-free! Yeah!

That is it, baby. That's it. Hey, if you guys want to plug into Financial Peace University like they did, you can do it. You don't have to live like you're living you can stop going in circles you can start making progress check out ramsey plus the membership will show you how to make the changes you need to get the results you want gives you complete access to financial peace university to every dollar premium teaches you how to do the envelopes like she's talking about i mean we're going to walk you we got community

there for you to plug in get support and encouragement accountability we got coaches you can plug into all of this is in ramsey plus and you can get a free trial for ramsey plus right now you i mean what's the downside of a free trial no downside you got to get in there and look at it and you know you can go in there and watch Financial Peace University. Start watching it tonight. It's that easy. So start making real progress, free trial. What you do is you text trial to 33789. Text trial to 33789. You know what's interesting in their case that applies to you?

Yeah, I'm talking to you. Nothing changed in their life. They just woke up and decided no more. There was no big job crisis. There was no big job crisis. There was no big medical crisis. There was no big, I turned 40, and I'm not living like this anymore.

That's all it was. And sometimes you have to get disgusted with yourself to change something. You know what I mean? You got to get a little bit pissed off at yourself and go, self, you're stupid. Self, you have to stop this see i just did that because what i do when i get when i'm working like a maniac and i'm working a bazillion hours which is what i was doing during covid to try to keep this place open i was working 100 hours down here man and we were

i lived down here just about me and the leadership team were trying to keep these thousand people paid and keep the revenue turned and we're pivoting and unprecedented and all that BS that we all just went through in the last year. And what I did was I ate everything in sight. I mean, there wasn't a chocolate donut left within a 50-mile radius of me. I sucked them all down. I got so fat, it was disgusting. And I looked in the mirror and I went, you're disgusting. So since I got disgusted, I lost 37 pounds. See, you can just decide, okay?

You can just decide, look stupid, stop it. You can just decide that. That's what I did and it's what they did. And it's, you know, we all screw up. The question is, are you going to live like that? No! Stop it! This is The Ramsey Show. common sense for your dollars and cents it's the ramsey, proving that common sense is like having a superpower. Eric is with us. Eric is in San Antonio. Hey, Eric. What's up?

Hey, Dave. How you doing? First time caller here. Got a question for you about career. Okay. So, effectively, I'm in a role as a business analyst, and I'm kind of trying to exit this career field and become a financial advisor. I just find that that's what gives me the most joy. Dopamine changes in life is helping people with their finances.

That being said, my wife and I are still in baby step two. We're down from about $100,000 to $40,000 remaining. We've got a bit to go. We just recently had a baby. So our income has been cut just to my income at about 60,000. Well, that being said, I, um, I have a client who reached out to me with an opportunity. Uh, it's again, a business analyst role for about a hundred thousand. Um, I just wonder, you know, if I should take it, even though I'm trying to exit this I just wonder, you know, if I should take it, even though I'm trying to exit this arena,

you know, just to get that increase in pay, be debt-free in a year flat, and then move on with my career aspirations, or if I should not be pursuing something that is not in line with my long-term goals. Hmm. that is not in line with my long-term goals. So if you move to a financial advisor, what do you make? You know, I think it's largely determined by the commission that I would be able to earn. I think starting out from what I've seen,

it can range from $60,000 on up through, I mean, theoretically, sky's the limit. I mean, if you're just going to be a total superstar, I mean, you can earn quite a bit. So, you know, I think starting out, it may be comparable, though, to what I'm doing now. Okay. Comparable except that it has upside based on your performance. Correct. Yes, sir.

And it's doing what you love idea. Yes. Well, go do that. Right. So you would not take the... Go do that and make $100. $60 is your downside. If you go do that and you make $70 or $80 versus taking $100, and then you turn around and walk back out on those people who hired you a year later,

that's kind of what – no, I'm not going to tell you to do that. I should clarify, it's a contract. It was a one-year contract so it's like i i would kind of have the red carpet on the way out really you know because it's a one-year contract i i thought that would have been tacky too if i just quit yeah okay that's helpful that's helpful information that makes me more tempted to do it but i tell you what i would do i would sit down with the financial advising firm that you're talking about going with and say, okay, I got this carpet ride for a year for $100.

I got a brand-new baby. My wife's off. I can knock out my debt doing that. But if I can see my way to making $100 here, if you can show me what it takes to do that and I can believe I can do it, I'll probably just come do that. Okay. And if not, I'll probably see you do that okay and if not if not i'll probably see you in a year right right okay kind of use it as a leverage so if they say if they say

look the top uh the the top three percent of people hired into this role go you know they don't make 60 they make 100 the first year. Don't do it. Take the carpet ride. But if they say, you know, half our guys make 100 the first year, well, surely God, you can get in the top half. Yeah, I would hope so. You know, that's the way I'm looking at it. That's the way I would look at it if it was me doing it. I'd just go, you know, I think I can get in the top half. I don't know if I can get in the top 3%.

I may not be that smart or may not work as hard or I may not have the golden half. I don't know if I can get in the top 3%. I may not be that smart or may not work as hard or I may not have the golden touch. I don't know, whatever. 3% would bother me. But if it's a 50% of the people that try this can do it and make 100 first year, then, dude, I'm doing what I love because you have a high probability doing what you love of earning more, right? So either way, 12 months from from now you're doing it right

right either that's that's my goal unless some unforeseen event comes in and i just fall in love all over again with business analysis which i just don't know yeah i don't think that's gonna happen um so what what runs through my head is if you call me up and said uh i make 60 and i got a part-time job offer for 40 uh or i can quit my job and go make 60 and not have the part-time job i i you know and i hate the part-time job i would tell you go do the part-time job and get out of debt for a year you got a baby clear your debt up and get yourself going right and in a sense that's kind of what we're doing we're taking a one-year part-time job that's 40 over what you're being paid on contract, and it's okay to be on contract because you're bailing anyway 12 months from now

to go into the advisor side of the world because that's what gives you the juice, right? Yeah. So it sounds like from what you're saying that there's, depending on the numbers and the circumstances, either of these decisions could work out being the wiser choice. There's not one that you can say. If you've got a reasonable probability that you think you can hit without being ego-based or weird, you know, of hitting it at an advisor,

go do it as an advisor. But if the probability is very small, like almost none of our guys make $100,000 the first year, go take the $100,000. Do it for a year. Clean it up. Do it for a year clean it up do it for your young family that's like working an extra job it's one year it's one year you can do anything for you and then you're done but yeah just talk talk it through with your the company

you're talking about going on with as with as an advisor i think they can give you real numbers and if they're just trying to blow smoke then you know you got to get somebody to really tell you what's really going on in that world i don't know is the answer from me i i don't know what you can do there or what their commission structure is or how they pay they may say no you're not allowed to do anything that increases your income you're locked at 60 for the first 12 oh well in that case i'm for sure taking this carpet ride. Ashley's with us in Las Vegas. Hi, Ashley. How are you? Hi. Thank you for having me.

I'm good. Good. How can I help? So we decided to sell our home because we're kind of in a pickle. The market's good for selling our home, but our question is kind of what do we do with the equity afterwards? My husband and I have split thoughts. What's the pickle? So I started doing real estate, and I dropped my job completely that I had. Well, I didn't really have a job since COVID.

I was in the serving industry. And then my husband has a job where he makes about $600 a week. And then our mortgage is over, I want to say it's $13 a month, which isn't a bad mortgage. But we kind of just can't keep up with all of our bills. We're about $40 in debt, um, 24 credit card, 24 cars and motorcycles. Um, and our best option really is to sell our home. I am getting another job right now to do on top of real estate. Um, but we're unable to kind of figure out anything, I guess would be almost like a quick fix kind of figure out anything, I guess, would be almost like a quick fix kind of deal. How much do you owe on your motorcycle?

Six grand. What do you owe on the cars? You said 20 total, right? Yeah, I want to say it was, it might be a little more than 20 for everything to go together. It might be about 18 or 17. On the car? Yes. A car?

Yes. Okay. You have a car you can't afford that you need to sell and a motorcycle you need to sell. Believe me, if I could get rid of those two things, that would have been my first choice. That is your first choice. Yeah. You can get rid of them. We have our home under contract.

Why are you calling me then? You're already doing what you're going to do. No, no. The question I have is, so we'll have equity afterwards. Yeah, sell the motorcycle and sell the car afterwards. Right. And use the equity to pay off all the other stuff and get yourself situated with an emergency fund and get your career straightened out. Because your problem has been an income problem. And you keep buying crap you can't afford right and so if you stop if you fix the income problem and get rid of the toys that you bought that you can't afford then you position yourself

to make some leaps forward but otherwise the home equity is going to go to pay for stupidity right so after everything's said and done, even after paying off our debts, we'll still be out about $120,000. That's how much we're taking. Oh, wow. That's wonderful. Yeah. We're going to have a pretty – that's after paying off my grandmother.

She loaned us 50 grand for the home loan originally. Yeah. So, yeah, clear up all debts then and get you a paid-for car and get your career going. Get settled into the career, rent something, park the money in a savings account, in a money market account for one year while you save up even more and you get your career stabilized before you repurchase. And you do all of that debt-free with an emergency fund in place and you'll have a good down payment. Yeah, that's what you're doing.

But you need to sell the car and the motorcycle. They're doing. But you need to sell the car and the motorcycle. They're ridiculous. Did you know you can listen to The Ramsey Show on your smart speaker? Just tell Alexa, Google Assistant, or Siri to play The Ramsey Show podcast. Check out all Ramsey Network shows on your smart speaker today.