The Ramsey Show - App - Our Favorite Calls of 2023 (Part 2)

Episode Date: May 29, 2023

While we're out for the holiday, we've compiled our favorite moments from the year so far into a special episode. We hope you enjoy it and we'll be back with a live show tomorrow. Let us know what you think in the comments. Support Our Sponsor: Neighborly Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Join a Personality-led FPU class. Click here! Enter The Ramsey Cash Giveaway for a chance at $3,000! https://bit.ly/TRSgvwy Shop our bestsellers during the $10 Sale! https://bit.ly/TRS10Sale Want a plan for your money? Find out where to start: https://bit.ly/3cEP4n6 Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6 Interested in advertising on The Ramsey Show? https://ter.li/s64ye3 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. George Campbell Ramsey Personality is my co-host today. Open phones at 888-825-5225. Annie in Spokane, Washington starts this hour. Hi, Annie. Welcome to The Ramsey Show.

Hi. Thank you so much for taking my call. Sure. What's up? Yeah, so my husband and I have a slight disagreement, and the question is should we pay our mortgage off and empty our savings account or keep a loan for about $150,000 and then do a few home improvements, and that would be a new foundation, windows, and HVAC system. Okay, so how much is in savings? Right now we have $608,000 in savings.

Okay, and the balance on your mortgage is what? $600,000. Okay, you said $608,000? Correct. It would leave us about a month and a half to two months worth of emergency fund if we pay off our mortgage. You have an emergency fund in addition to the $608,000? No.

The $8,000 is a month and a half. I got you. Okay. Correct. Yeah. And your household income is what? At $203,000, approximately about $203,000. And then also we do have, we're just signing a 10-year lease for some farm ground, and that will bring in $30,000 a year for 10 years. Okay, so you have a quarter million dollar income. And we do not tell people to pay off debt and leave less than three months of expenses okay so let's fast forward

from today a couple of months and now you've got six hundred and thirty thousand okay uh that day i would pay off my mortgage okay and then i'm going to use this fabulous income and the extra six thousand dollars a month to build up some little uh buckets of money to do these renovations that we want to do okay yep my husband uh he said that's what you'd say but well i'm fairly predictable i've said it over and over and over i say the same thing all the time so i mean you can yeah so here's the thing uh the other thing you can do it it'll help you with this annie to process it helps me when you actually put numbers to it and then you put uh how many months it's going to take me to do this so i'm going to go ahead and get like a bid on the heat and air i'm going to get a bid on the foundation i'm going to get a bid on what was the other thing windows windows okay yeah and then i'm going to say okay the first one of these we're going to do

is i'll make it up windows okay and the bid is thirty thousand dollars okay without a house payment and a quarter of a million dollar income then how quick do i have thirty thousand dollars in addition to my emergency fund oh just a couple months i mean got it yeah and then how quick do i have you know the i'll make it up twenty thousand dollars for the heat and air if that's the second one i don't care which one's first i'm making this up? But my point is prioritize and put actual dollars to it, and then back into how many months. And what you're going to discover is probably by this time next year, you've got a fully renovated paid-for house.

Yeah, perfect, yeah. So we're really not discussing, oh, we're never going to get around to this. No, lay it out. Game plan it. Develop a detailed strategy. And then that, if I'm in your shoes, discussing oh we're never going to get around to this no lay it out yeah game plan it develop a detailed strategy and then that if i'm in your shoes because you're the one not wanting to pay it off you're the one wanting to do the renovations first and that's okay but if i'm you then having that game plan going it's going to be here in a minute anyway i can deal with that yeah it helps

me to release it yeah yeah we're talking about a month or two before you guys have, you know, $625,000 in that account, and now we can clear that mortgage payment, which frees up the mortgage payment on top of still having an emergency fund there. So it's not enough time to even argue about. Yeah, you're going to be there. And, you know, I would. You guys make a lot of money, and I would do the renovations Assuming you're not overbuilding the neighborhood with all that, but I'm guessing that you're probably going to spend well less than a hundred thousand dollars on those three items. And it sounds like the house is probably north of a million in value. And so it's not a big deal and you make plenty of money to do all this. So really

good job. Very, very good job. These are the good things to argue about. These are good arguments. Okay? It's like, oh, we have $600,000 in savings. Do we pay off the house? What an argument most people would like to have. Listeners are shaking their fists right now going, really? This is what we're calling in about?

$600,000 in the bank? Amazing job. Truly first world problems. But, yeah. Yeah, I mean, but the point is you guys are neither one of you are really wrong it's just a matter of laying out a strategy to do this and george i did this many years ago we were uh just coming out of being broke we're starting to get a little money finally we're nearly to the point that annie is at this at this stage but we had a little bit of money coming in and sharon had this uh we had little kids and we had this god awful two-tone blue astro van do you remember those

yeah nasty looking little vehicle and it was nasty inside because it had three dogs and three kids in it and some things you talk about stuff i mean nuclear waste was in the floorboard so and this thing was bad and sharon's like gets this idea now we're starting to get a little margin she's like i need a suburban i need a new car and i'm like yeah well i mean you know santa claus needs reindeer too but we're you know we're not no it's not gonna happen yeah i'm work doing stuff down at the office. I got, I got an investment I need to make down here to get some more money coming in by doing this thing.

And, uh, you know, we got 20,000 bucks and we can either buy her a suburban or we can go use that 20,000 down here at the office and make some more money. And, um, you know, and we went at it as if, if the Suburban, I would never do the investment. Or if I did the investment, she would never get the Suburban. And what we learned was what we just taught Annie, which is, oh, shut up. Both are going to happen. Both are going to happen fairly quickly. Just decide which one's first.

Flip a coin. Being the wise husband that I am, she got the Suburban first. And then I did the investment second. But it really, I mean, we had a big old fight about it. Because it was all or nothing. And it's not all or nothing. Usually it's just, it's not no, it's not now. No is not really what we're saying.

We're saying not now. We're not really we're saying we're saying not now we're not really saying no we're not going to do the heat and air in the windows in the foundation it's not now that's the thing and uh it's kind of like how children are when they go well if it's not going to happen now i'm going to throw a giant fit because it's never going to happen yeah and that's not what it's just which one's first do we pay off the house or do we do the renovations? It's not an either or. We're going to do both. Let's just decide the order and which one makes the most sense mathematically and emotionally and relationally and all that, right? So there you go.

I tried to Google a photo, just this picture Dave and Sharon Ramsey driving around. No, that's not it. This two-tone. That's not, that's, that was nicer. We're getting closer. That one's nicer. There it is. That's, that's not it. It's two-tone. That's not. That's. Are we getting closer? That was nicer. We're getting closer. That one's nicer. There it is. That's.

That's. You still didn't get it. That's going to be a new segment. That's a full-size van there. But yeah. That's going to be your next car. That's closer, but it was a lot uglier than that. That one's a pretty good looking van.

Hey, drive like no one else. And later, you can drive anything you want. There you go, babe. Wow. There you go, babe. Wow. There you go. This is The Ramsey Show. Guys, if you're coming around Nashville, stop by Ramsey Solutions. We've got a wonderful visitor center, an area you can walk through, bookstore, free cookies.

Oh, they're good. And coffee. And you can walk through bookstore free cookies oh they're good and coffee and you can watch this show we do the show on the glass every day from one to four central time and we'd love to have you we always go out at the commercial breaks or some of the commercial breaks and sign books and have pictures with folks and there's generally 50 to a couple hundred people depending on the season hanging out with us out there. I talked to a guy named Jim out there a minute ago. $2.7 million net worth, all in a paid-for house and in his retirement mutual funds. Yep, and as I was getting my coffee, he said, and he's like, tell your dad I'm wearing a pair of 10-year-old blue jeans.

There you go. That's a classic millionaire right there. So good. James and Katie are in Ocean City, New Jersey. What's your guys net worth hey dave and rachel uh our net worth is uh 1 million 30 000 awesome you did it cool we did it love it how old are you guys i'm 46 and i'm 41 good you're young millionaires how much of the 1 million 30 000 was inherited uh zero zero okay cool and what has your been your range of income since you guys started working got married what best year household income worst year household income um so in 2008

um we made 30 000 and then in 2021, we made $548,000. There's that? What do you guys do for a living? We're in real estate. Okay. As brokers or investors? Brokers. Okay.

Do you have four-year degrees? I do. I have a four-year degree. In what? In biblical studies. yeah all right which always sets you up to be a real estate broker right okay exactly right uh-huh and you do not what was your gpa in uh in in college kate katie it was like 3.6 good Good. Okay. So break the million down for me. How is that invested? What's it in? So between our Roth and SEP is about 200K, cash, 325, our home, 425,

and then our vehicles, a little piece of land, and 529. Okay. coals a little piece of land and 529 okay so it sounds like listening to your what i'm seeing in the numbers of your story that basically you just earned a big pile of money paid everything off and piled up a big pile of cash yeah in uh june of 2022 we did our debt-free screen. So that 2021, 22 in real estate, you know, the numbers really jumped up and we had a couple of really strong years. That's so good. Was the debt-free screen the house and everything? Yes. So what would you say to someone that's like, they're on their journey, maybe they've paid off all their consumer debt they're working on the house how how much um like springboard is it for you guys of not having a house payment and obviously you're making great income but how much was paying off that house

that really opened up some cash flow that you felt yeah for sure i mean not having a mortgage changed everything um we listened to your podcast. It's just weird talking to you because I have like a side hustle business where I clean. And so I was scrubbing toilets, listening to the podcast, keeping my heart, my mind centered on why we were doing this and just working really hard to pay off debt and pay off our house. Yeah, not having that mortgage is huge. working really hard to pay off debt and pay off our house. It's amazing. Yeah, not having that mortgage is huge. Man. It's amazing, you guys.

I want to go on a soapbox rant right now. The millionaire toilet scrubber. Meanwhile, you have people sitting around in their mother's basement whining and saying that America is broken and they can't do anything. While Katie goes and makes them makes, you know, you guys bust your butts and clean, clean up literally and then clean up figuratively. That's just that's fabulous. I'm so proud of y'all. And now you don't do that anymore, right?

You hire other people to do it, right? I do. Yeah, I have a great. That's what I do. Yep. God told me I don't have to cut any grass anymore. I cut enough grass in the first 20 years of my life to have got, I got my whole quota in for my whole life.

It was great. Yeah. It's the same thing, right? So, oh my my gosh you guys are incredible i'm so proud of you okay i i know you guys are extra hustlers and i and in a good way hustle ground hustle and grind uh but talk to the people out there who think it can't be done anymore can it yeah absolutely um i i did not go to college I barely made it out of high school. But I did.

We took FPU. We led four FPUs. And I'm taking the financial coach master training right now. So there's definitely it can be done. I never really planned on it or thought we would hit that mark. I just started doing the numbers and said to Kateate like oh we were there yeah you guys drunk all the kool-aid man i mean thank you thank you i like it well and look at what it got you that's what's cool so hey very proud of you guys congratulations heroes you did it i love talking to somebody who cleaned enough toilets that they never have to clean another toilet yeah isn't that great well it's just the hard work and and the the idea of hey I'm gonna

go do a side hustle while we're doing real estate as well I mean all of it together was just phenomenal so well done guys Nathan in Norfield Minnesota what's your net worth hello Dave my net worth is 1.3 million cool how you? 44, and my wife is 43. Very good. Another young millionaire. How much of this did you inherit? I inherited $1,000 last year when my grandmother died. Well, that made a big difference.

Yep. Okay. Let me write down $1,000. All right. That's right. What has been your household income best year and worst year since you all began working and began life uh worst year was about 30 000 best year was 240 000 excellent excellent now give me a little breakdown on the 1.3 how's it broken up all right on the 1.3 our house is about 500. We own a commercial lot that we have not put a building on yet at about 100,000.

Retirement accounts, we have about 330,000. In business, we're in construction and landscaping, so we have quite a bit of trucks and equipment. We've got about 250,000 of paid-for equipment. And then we have 120,000 of 529 emergency fund personal vehicles that type of stuff way to go excellent excellent so you own a construction and landscape business yes yep i run the construction side my wife runs the landscape side yep got it awesome you got four-year degrees we do not uh we both went to the local technical school i went for a one-year program in meat

cutting and my wife went to the landscape program they had I went for a one-year program in meat cutting, and my wife went to the landscape program they had, and that was a two-year program at that time. In meat cutting? Yes, I know. It took a year? Were you going to be a butcher? What was the thing? Yes.

Yeah, I thought about doing that. I worked that industry for about a year, and then I decided I wanted to stick with construction. Yep. I bet you can field dress a deer. Oh, absolutely. Yep. I actually slaughtered my own beef about two bet you can field dress a deer. Oh, absolutely. Yep, I actually slaughtered my own beef about two weeks ago at my own property here, so yep.

I love it. What was your GPA or her GPA? Mine was 3.97, but again, it's me cutting. Me cutting almost a 4.0. And then my wife, I think it was like a 3.7, she said. All right, very good. Okay, cool. Congratulations, man. and then my wife i think like a 3.7 she said all right very good okay cool congratulations man when did you look up and realize gosh we're millionaires um so we did our we came to our

debt-free screen when you were at the old building that was in 2018 um so so it was two years ago like 2020 we became millionaires we're 42 and and 41, and it was just kind of a progression after paying. Let's be honest, after you pay your house off, it happens fast after that. Yeah, yeah, because you got cash flow. Yep, exactly. You know, we always say that your most powerful wealth-building tool is your income. Well, when you pay your freaking house off, you see that. Exactly.

Yeah, it's really legitimate. So you guys are kind of baby steps millionaires in a sense. You follow this stuff. Yes, very much so. Yeah, we took FPU originally in, I believe it was 2003, and then we taught FPU at our church from 2005 up until about 2020, just a couple of years ago. And we ran out of students, shall we say, at our church,

and we decided that was enough for a little while, at least let it recoup for a few years and see if we pick it up again thank you thanks for leading the class and hey man you're a hero congratulations way to go dad gum 44 year old millionaires i love this so good it's a baby steps millionaires theme hour we're talking to real millionaires mike rowe will love the meat cutter millionaire story. He will love it when I tell him that. This is the Ramsey Show. If you've got debt and now you've got inflation stealing more and more of your paycheck,

I know a lot of folks out there feel like you're drowning. You're scared. Understand, I've been there there it's no fun and you shouldn't have to live with that kind of stress if you want things to change though let me tell you who's going to change them you you've got to finally back up and say that's it i've had it when you've had your I've had it moment, the next thing you need to know is how do I fix this dadgum mess I made? Let me tell you what. I've got the solution. For 30 years, we've had 10 million people now go through Financial Peace University,

our nine-lesson course that'll teach you how to get out of debt, become wealthy, and outrageously generous. And it really does work. It is the largest course on how to handle money in America today. By far, nobody's even close. Check it out. If you want to know more about it, just go to RamseySolutions.com slash FPU. RamseySolutions.com slash FPU. And we can show you how to walk away from the fear is it going to be easy well crap no it's not going to be easy making the mess was easy getting out of it isn't going to be easy and it's going to take you about half as long to get out as it took you

to get in so if you've made a mess for four years count on about two years to get your butt out not two minutes we don't sell microwaves around here food isn't worth eating we sell crock pots no such thing ken i've been all over america i've never seen anybody put the phrase good microwave barbecue in one sentence that's exactly right there's no such thing nope no such thing you got to cook it until the dog next door is howling low and slow that's it man you just you got to the animals animals have to be stirred up from the smoke that's how it works and and life is that way the good stuff it's true you know it requires putting some calluses on your brain and on your hands it requires doing some things you've never done and being uncomfortable because comfortable is what got you into the dadgum mess that's the deal open phones at

888-825-5225 ken coleman ramsey personality is my co-host today alec is in atlanta hi alec how are you hey guys so much for taking my call. Sure. What's up? So I recently completed Baby Step 3, and within the next two to three years, I'm going to have to get a newer car. Good. And when the time comes, I just want to know, should I use my emergency fund to pay for this newer car, or should I start saving up money in a completely different savings account? We call it an emergency fund because you use it for emergencies. Buying a car that you plan to buy a year and a half from now is not an emergency. So you save up and pay for it.

Aside from your emergency fund. Don't touch your emergency fund for something that's not an emergency. That make sense? Clear as mud. Okay. Well, don't use your emergency. Buying a car is not an emergency unless your car just disappeared last night and you had no insurance.

Sure. Now, that's an emergency. Okay. The car gets totaled and you had no insurance, right? That would be an emergency. But right now you're telling me I got 18 months to save up for a car. That's not an emergency. Buying tires, going on vacation, Christmas is not an emergency.

It's always in December. They don't move it. Follow the difference? An emergency is known as an unexpected event. You've clearly made this an expected event yeah so there you go that that hopefully that clears the mud up but yeah that's what we're going to do there save up and pay cash for it and by the way anything else you buy for the rest of your life you're going to save up and pay cash so you don't fall back into debt fall back most

people don't fall into that they strut oh yeah sometimes they jump into it they jump into it like a jumping into their death okay you know there's a hold on before you go there dave because this is interesting i'm just listening to that and hit the psychology going on and he's wrestling with that and i think there's some other people maybe new to the show that are kind of wrestling with that too well dave the car it's just not going to last much more than 18 months why can't i use the emergency fund? And I think it's the difference between the expected and the unexpected, and it gets back to this financial peace phrase we use all the time on this show.

Why are we so clear on that to say, hey, you know you need a car. Why is it a better financial decision to save up for that than it is to just go ahead and use that money that's already saved? Well, the same, because here's's let's just be real clear if you use your emergency fund you have to stop everything you're doing and replenish it because you're gonna otherwise you're going to attract an emergency right so um yeah it's not i used to work with a guy a thousand years ago he said people use their savings account as a put andand-take account. Put in, take it out. Put in, take it out. Put in, take it out.

And they never have any savings as a result. It's just a glorified checking account that lasts a little bit longer than two weeks, you know. That's good. So it's a put-and-take account. And if you use your savings that way, instead of using a named account, okay, this account has a name emergency fund we don't touch it except for emergencies this account is the car account and if i use that money to buy a couch no car right if it's the couch account and i use it to buy a car no couch so

you're by naming it you realize you're violating your former intention because you're being an impulsive little child. That's typically what happens with me anyway. That's right. It's not a bass boat account. I mean, really, seriously, those fish are not going to outrun you. It's okay. And so you can go with the old slow motor.

It'll work. It gets you there. They're still going to be in the lake. But, you know, we have to go 126 miles an hour apparently to catch a bass because they're really fast. So it creates a boundary, a real mental boundary developed over time of discipline to say we're not touching this. And then we begin to adjust to that. It is a boundary, and it's a muscle in the same sense.

You know, one of the things I did for years and years and years, I don't do it formally this way anymore. I've got a different process now that we have the Family Foundation, but I did giving that way. And it was an interesting thing once i moved money out of my checking account into the generosity account i didn't feel like i owned it anymore right it was gone i just hadn't placed it yet that's good you know what i mean and that wasn't sure but that was just a psychological thing that by renaming it, I had released the ownership of it already to generosity. And so it wasn't hard for me to give then when a need came up in front of us. It was just because it was already, in a sense, given. And now when we move it into the Ramsey Family Foundation, it's the same thing.

It's just a little bit more formal, a little bit more sophisticated with the niece running all of our giving and all that but the uh uh but but still i still think i mean if you just earmark it for something then you feel like you're violating something if you don't use it for that yeah i i feel the same thing happened to stacy and i when we first started the envelope system because then it was like i would second guess that's what you're supposed to do if i know but it's like you don't use your food money out of your food envelope put gas in the car right because you can't eat gas so it's not food so it's not an emergency you don't use the emergency fund it's not a yeah and we don't use your car fund for an emergency unless it's a huge emergency and you had to liquidate everything else but by then you what you're doing is you're realizing you're setting up boundaries, like you said, put in place to make yourself realizing you are changing plans.

Yes. And you have to say, I am changing plans. And really, if you're married, you're talking to your spouse about that and you're going, we are getting ready to use the car money to go to Europe. Are you getting that? Okay. Or we're going to use the Europe money to get a car, whatever it is, because we're changing the plan. And instead of just living with this waves of impulse coming over us.

And you own it, so you can change it. I could take money back out of that generosity account and buy a car with it. I can do that. But it's a change of plan, and it would feel weird. It's kind of like, here's another one where that comes up. If you ever move money, if you ever put some money, even if it's birthday money or something, in a kid's savings account. Well, the kid doesn't own any money in America until they're 18.

You can't do contract law. So that account is not in the kid's name. It's in the parent's name. The kid's name of the parent is a custodian. You cannot do business until you're 18. And so technically, kids don't own money. Shocking. I know.

Technically, they don't. And so I could take that kid's money and buy a car with it. Because it's not really their money. Wouldn't that feel gross? Yes, absolutely. That would feel gross. That would feel like I had done something like a bad parent or something. Because you would be. This is

The Ramsey Show. Jade Warshaw, Ramsey Personality is my co-host today open phones at 888-825-5225 brandon's in louisville kentucky hey brandon what's up hey thanks for taking my call today sure how can we help so i have a question about what i should where i should be focusing my money so i went through majority of your steps. I am debt-free with everything besides my house. I did the 15% into my retirement to my 401k.

I have a relatively new son who's six months old, so I started the 529 and started investing in that. Very good. Thank you. My question is, so I bought a house a couple years ago, two, three years ago, bought it at a pretty good time. My mortgage that I have left on it is about $250,000. It's worth around $300,000 to $315,000. But I put about $50,000 in individual stocks, and then I have an additional $103,000 roughly and just savings on the side.

And my question is, should I be taking that money out of the individual stocks and trying to beat that mortgage down as much as possible? Or how should I be investing this money? What should I be focusing on a direction with this money? You seem like you're awfully familiar with what we do. Uh-huh. Until that last part. Relatively new to listening to you guys. It's probably been a few months that I've been listening to you guys. But you know the baby steps. But, yeah, like I said, I love the method you guys use.

You try to make it as simple as possible. But I feel like I'm at the point where, like, I'm still relatively young, but I'm like, I want to get ahead as fast as possible. You do. Look. I'm not going to stay in this home forever, but I'm probably going to move out of it in a couple of years. I'm like, does it make sense to keep down my mortgage? Here, let me help you.

Let me help you. What you've been doing, which is the baby steps, has been working for you. So let's keep on doing that. So the way we would teach it is you're already investing in the 529. That's great. You've got all this extra money, the 50K in single stocks, 103K. Is that above and beyond your three to six months, I'm assuming? Yeah, that is everything.

Yeah. The savings portion. So what we would do next is put, you know, we're paying off the mortgage. So you've got this extra money. If it were me, I would cash out the 50K in single stocks. There's going to be some tax implication there. So you've got to be prepared for that. But I would cash out the 50K in single stocks. There's going to be some tax implication there. So you've got to be prepared for that. But I would do that because you've got 250 left

on this mortgage. You could pay off 150 by the end of the month. What's your household income? So I make around $250,000. And you're how old? 26. Okay. Way to go. You're doing really good, Brandon. So good. Here's the thing. What we have discovered in studying millionaires, not someone's theory on Tic Tac, but real millionaires, okay, what we've discovered in studying 10,000 of them is the shortest distance between where you are and the first $1 to $5 million is two things. Loading your 401ks at 15% of your income going in like you're doing

and becoming 100% debt-free using what used to be payments then to build wealth with by steadily investing. The number of millionaires that we interviewed, and we interviewed 10,000 of them, that said, I ran up a bunch of profit in single stocks and used that to pay off my house, and that caused me to be rich, was almost nothing.

Almost none of them. There was a few, but there was, percentage-wise, it would have been well less than 5% of them. 95% of them followed the plan of not just our plan, but just the idea, the common sense idea of my most powerful wealth building tool is this wonderful income you have because you're obviously bright. You're 26 years old. You make $250,000. Dumb people don't do that. So we know you're bright.

Okay. And so that is your secret sauce not the stocks not leveraging your house you are the secret sauce in the equation so if i'm you uh i put 150 000 minus an emergency fund if you set aside 20 for your emergency fund so 130 000 on your 250 000,000 loan, and you have a $250,000 income with no other payments. I think I understood that. That's right.

And that means I'm going to knock off. You're going to be debt-free when you're 28, house and everything, and then you've got $250,000 freaking dollars to invest steadily. You're going to be a millionaire when you're 35 if you do what we tell you to do. Okay. What's this house worth? A side note, which is going to make you probably a little mad at me,

is I am paying PMI on my... I'm not mad at you. You're brilliant. You've done a great job. And it's going to be gone. All we're doing is fine-tuning your excellent plan. You pulled up here in an IndyCar. All we're doing is tuning it up. your excellent plan. You pulled up here in an IndyCar. All we're doing is tuning it up.

Okay. Well, you know how it is. You like to look at the bank. You like to see the savings. I'm really good about stockpiling money. Let me tell you what. Let me tell you. I don't know how it is.

What I know how it is is when you pay off your house and you walk through the backyard without any shoes on, the grass feels different. It probably does. It does. I promise you. So, so hey here's the thing if i'm wrong and two in a year and a half from now you're 100 debt free and you hate it you can go get you a mortgage that's a great way to look at it all right hey man pay off your house as fast as you possibly can that's your next step and and don't get too caught up in the stocks yeah i'll say that too yeah single stocks are pretty much a gamble pretty much a gamble i don't buy single stocks we

recommend if you're going to do single stocks just because you can't stand it for whatever reason not to have more than 10 of your net worth in single stocks i buy mutual funds that's all i do and and real estate that i pay cash yeah that's all I do I built a hundred percent of my wealth doing that that's all I've done very simple and you know he made a good point the thing you have to watch against and Brandon he didn't get there but he walked up on the edge of it I heard him he's not really there because he's very smart yeah he's obviously a smart young man okay when I was his age I would have been more than smart i would have been arrogant okay yes that would have been the category i would have been in

so here's what i find he said you guys what you teach is so simple and there's a lot of compliment in that but there was also a but i know better because i'm smarter than simple yeah you wanted there to be more smarter than simple if you get smarter than simple. Yeah. You wanted there to be more to it. Don't be smarter than simple. If you get smarter than simple, that's when you get your toe cut off in the lawnmower. Just don't get smarter than simple. It's a bad idea. Let me just tell you, some of the most profound life-changing things

you will learn in this life are very easy to understand and very hard to do. Let me give you one. Yes. Love your neighbor. Oh, but he's a jerk. Yeah. I know what to do, but doing it.

Oh, my gosh. Simple does not mean easy. You mean I got to love the guys on TikTok and Twitter? Oh, man. Oh, I know what to do. I just can't do it. It's simple is simple but not easy very simple some of the things that most profound things are simple but not easy britney's with us britney's in oklahoma city britney we're short on time go fast okay um i am currently doing the baby steps i started on

baby step one i saved a thousand dollars and then I end up using it. What? On what? On moving out of my apartment to another apartment. Why? My lease was up on my apartment. Did you go down and rent?

I did not. I can't help you if you keep doing this stuff. I know. The part of the place that I was living, I could not... It was like... Okay, Brittany. You got to quit moving the wrong direction, kid.

Yeah, we got to lower... We're trying to lower the expenses, raise the income. You got to get on those baby steps hurry up and get that thousand dollars re-saved and then you're going to start through going through your debt snowball and watch these moves don't be that was impulsive as crap and you know it that's why i'm picking at you because we love you and we don't want you to do that anymore don't be so dadgum impulsive now if you got a nasty butt thing and there's roaches running around you got to make a move that's one thing okay i get that but on the you know but you really need to just stop and slow down he who is impulsive exalts folly do not be impulsive i've been impulsive most of my life and every time i'm impulsive right after that i get broke that's true. Slow down. Slow down. Make slow, calm, wise decisions.

Be the tortoise, not the hare. Now work your baby steps again and start fresh. But if you undo them every time you get started, I can't help you. It's not going to help you. We don't have a baby step for those that start over all the time. No, it doesn't work that way. This is The Ramsey Show. Hey, what's up, guys? It's Jade.

If you love the show and want a deeper dive on your money journey, we have a weekly newsletter that gives you trending and helpful articles and tips on following the Ramsey way. Just go to ramseysolutions.com today to sign up for our newsletter. Again, that's ramseysolutions.com to sign up for our weekly newsletter.