The Ramsey Show - App - Our Favorite Calls of 2023 (Part 5)

Episode Date: July 3, 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 soon. Let us know what you think in the comments.   Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET Here's an EveryDollar deal just for our listeners: get a 14-day free trial PLUS $15 off your first year of premium. Click the link below and start budgeting today! www.everydollar.com/TRS 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 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 Camel, Ramsey personality, host of the George Camel YouTube channel and co-host of the Smart Money Happy Hour with Rachel Cruz is my co-host today. We're answering your questions about your life and your money, and we invite them right now.

The phone number is 888-825-5225. Tom's going to start off this hour in Atlanta, Georgia. Hey, Tom, welcome to the Ramsey Show. Hey, Dave, how are you? Better than I deserve, sir. What's up in your world? Well, I have a question for you, and I hope all's good in your world, but I recently sold a company and finally have enough money to pay off mortgages

if I wanted to, and I wanted to know should I do that or should I keep them financed. I have a home under construction. It's a construction loan at 3.5%, which is going to change if I close with them under a 15- or 30-year mortgage to approximately 5.5%. And I have the funds to pay it off, and I just needed to know, should I pay it off? So what is that pile of money that you got? It's a nice chunk of change, and to pay off the house,

I don't think it would affect my lifestyle. How much did you get, Tom? I'm not allowed to say those exact numbers why who who's who your mama told you you couldn't no no no i'm under a confidentiality agreement oh okay was it seven figures what are we talking here north of a million yes okay well hey the reason i was asking was congratulations well thank you that's incredible well done touchdown tom well done hey it was a touchdown very happy fun 20 years fun how old are you I was asking was congratulations. Well, thank you very much. That's incredible. Well done. Touchdown, Tom. Well done.

Hey, it was a touchdown. Very happy. Fun. 20 years. Fun. How old are you? 53. Good for you.

And how much is the mortgage balance going to be? It'll be in June with the house is finished, it'll be around a million, and the home will be worth about two million because i've already put in a chunk okay so the the chunk of change under confidentiality is well north of five million then it's a good number yeah okay all right so so you can pay this off and still have a big old pile of freaking money that's that's what i wanted to make sure before i move forward in this. So here's the thing. A good way sometimes for me, and I use it a lot personally, to decide if I want to keep something or if I want to invest in something is I reverse engineer it. Okay. Let's just pretend your pile of money was $5 million

and you had a million dollar mortgage. Okay. And so if you pay off the mortgage, you know, you've got a pile of $4 million and you have a paid for $2 million house, okay? Is that right? I got my numbers right, didn't I? Well, yeah. Assuming my assumption about the confidentiality, I was close, okay?

So anyway, that's our pretend scenario. And now if the house, let's reverse engineer it. Let's pretend that you had a $2 million paid for house and you had $4 million in investments. Would you go borrow a million on your paid-for house so that you had $5 million in investments? No. Same difference.

Fair enough. And that tells me what to say. See what I mean by reverse engineering it? So you can even do that with a boat that's sitting in the driveway. Okay, the boat's worth $10,000. If I sold the boat, I'd have $10,000. Let's pretend I got $10,000 piled in the middle of the table. Would I go buy a boat?

Yeah, I love boats. Okay, then don't sell your boat. But no, of course I wouldn't buy another boat. I hate the stupid boat. Well, then it's time to sell the boat. It's taking up space in the driveway. So you just reverse engineer it, and that's a sunk cost analysis. Yeah, this is a good situation to have, but a lot of people, Dave, what they see on paper is, well, Dave, if I invested that money,

I can make more than the mortgage interest. Wouldn't that be the smart thing to do? And the interesting thing is, when we did that largest study of millionaires ever done in North America, 10,1677 of them the number of them that borrowed on their house to invest and as a result built wealth was precisely zero we couldn't find one not even one that said i became a millionaire because i maximized the leverage on my personal residence and put that money in mutual funds not one well the millionaire guy on on tiktok told me differently dave well that's because not all those people tell the truth well he had an online course that was going to show me how to do it i know for three thousand dollars oh that's how

he made his money not through leveraging debt that makes sense yeah he's yeah you know if i that's why we put stuff on tiktok i mean i was going to avoid tiktak it drives that whole thing brought me nuts and we just started flooding it with ramsey stuff to try to flush out some of the sewage yeah just flush out some of the sewage if you just take up the space with clean water the sewage has to go somewhere else you know it's just oh my gosh so we thought okay we can either ignore this sewage mess or we can just put a bunch of cleanliness in there and oh these people yeah i mean yeah you you watch some of these guys honestly most of you have good walking around sense if you'll take a second and just watch

the body language of a couple of these characters you can 100 see they're lying that their scenario is i have 25 million dollars in mortgages and he's got a baby on his hip oh you've seen that one yeah that one went viral that one's just so that guy's so lying it is not true you just watch it watch his watch his eyes watch his mouth i mean the guy is just you don't have to to be an FBI trained to figure out this guy is not telling the truth, okay? So it's just a straight-up lie. So honestly, people, the data that we did in this millionaire study is airtight. I mean, we used all of the research techniques. We used an outside research firm to make sure we weren't doing confirmation bias.

We weren't falling for some of the other research methodology problems you can get into because we actually know a little bit about research and statistics here at Ramsey. And so this data is so freaking solid that if you don't agree with the conclusions, you're what's known as wrong. So, I mean, you just got to keep that in mind. It's just straight up the truth now uh so you know the number of whole lot the number of millionaires that made became millionaires because they bought whole life life insurance precisely zero not one the number of them that leased their cars because this is what wealthy people do not now, some of them did lease their cars, but none of them told us that it was anything but a mistake. Okay, what was the dumbest thing you ever did with money?

They would say, I leased a car, bought a whole life policy. These are the things that kept me from building wealth. Well, it's so much simpler and more boring than you ever thought. It's just put money in your 401k mutual funds. Pay off your house house it's a problem with this stuff it's too boring dave it's just really we need a sexier approach make it real complicated do a lot of math on a board real quick i need a whiteboard and i need to be to dance around and i need to do a double backflip and get a family partnership double twist off the high

board and you have to come up with all this complicated crap because that's what wealthy people do no they don't they live on less than they make they invest and they pay off their house and if you want real money it's what they really do build and sell a company that's that's the american way that's pretty cool now that's where most of your billionaires come from uh now if you want to study the forbes 400 they're all today billionaires and that's a thousand million that's a different category that's not a one toaires, and that's a thousand million. That's a different category. That's not a one to five million dollar. That's a thousand million.

You're not going to get to billionaire with your 401k, boys and girls. Mathematically impossible. Okay? But you, you know, so there's some other tricks involved, some things involved, but none of them are the stupid stuff you read. But anyone can become a millionaire. It's so much simpler than you think. Listen, social media is where you're getting your financial information,

even though we're on there, I'll just tell you, it's a struggle. This is The Ramsey Show. Hey, you guys. Health insurance costs are only moving one way, and that way isn't down. And if higher costs aren't enough, the wait times to see your doctor are longer,

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CHM programs start as low as $98 a month. So learn more today and join at chministries.org slash budget. That's chministries.org slash budget. Dr. John Deloney, Ramsey personality, is my co-host today. Open phones at 888-825-5225. Ed is next in Tampa, Florida. Hey, Ed, welcome to the Ramsey Show. Hey, gentlemen, how are you? Better than we deserve. What's up?

So I got a real estate question. I am 26. My wife's 26. And we are about to purchase our first home. Awesome. We're about to purchase our first home, that is. And got pre-approved recently. And I'm struggling with understanding what to do here. So I was quoted for putting 20%

down on a home and 15% down on a home and on a 15-year fixed. And my rate for 20% down is higher than my rate if I put 15% down. That makes no sense. I agree. And that's what I'm trying to figure out why that would be and which direction I should go. You should talk to Churchill Mortgage and get a quote and then ask them if they give you the same thing that's uh why on the flip is this because I I know of no logical reason that should occur

as a matter of fact when you put 20 anointment are you dealing with an FHA loan or a conventional loan conventional okay with 20 percent down you will avoid PMI, private mortgage insurance, which will amount to about three-quarters of a point. I mean, it'll amount to a lot. Right. It's about $75 per 100,000 borrowed per month. Yep. And so not having that with 20% down is a substantial savings. I mean, it's like $200 a month if you're borrowing $300,000.

And the interest rate should be exactly the same either way. But putting less down would normally cause you to have a higher interest rate because it is a higher risk for the mortgage company. That's what I would have thought yeah and they said that the the lender that that are so we're the new developed new community being developed so it's the preferred lender of the builder oh whoopee and so i prefer not to use this lender yeah so they're not the preferred lender of the buyer. Yeah, no kidding.

Yeah, I think, I don't know what they're doing. I honestly have no idea. Did they give you no logical explanation for the higher rate? Basically, what she said is that when someone puts 20% down and the bank is no longer charging them PMI, they still view that as a higher risk than if someone put 15% down and they do charge them PMI. Well, that's just not true. Okay. well, that's just not true. Okay?

Because the whole purpose of PMI, the reason PMI is there when you put less down is because it's higher risk. That's why they make you get it. Private mortgage insurance pays the bank if they lose money in the event they have to foreclose on you. It does not insure you in any way. It insures them against you getting foreclosed on and them losing money that's what PMI does there is no PMI at 20% down and the reason is industry standard is is they're

very unlikely to lose money so Ed I'm going to ask Dave a question is Dave is there a possibility that because I think there's a profit motive here's what it is right so is there a possibility that or actually a risk that when you're over 20 and you ask for your pmi by law they've got to take it off but then they no longer are insured against that loan they don't they do not have insurance without pmi on a conventional loan there's no insurance so it sounds like this mortgage company saying we don't want to do loans that aren't insured no that because they're selling the stinking loan it's a fannie mae loan it's it's all it's going to be bundled up anyway yeah they're going to be bundled up and sold on the secondary market so they're it's a that's weird man yeah it's a it's a conforming loan it conforms to a set of guidelines so that it can be bundled and sold

and so i i think it's a local uh mortgage company that thinks he's got a fish in a barrel because you're buying this on a new site and and they're the preferred lender okay i prefer not to get overcharged so i'm going to prefer to use somebody else check churchill and see if you can find out what's going on there may be something i don't know here but i don't think so i mean i've been doing real estate for 40 years so um this is weird it's very weird yeah and if you have the 20% down, I would put the 20% down rather than pay the extra $200 a month per $300,000 borrowed for PMI that gives you absolutely zero benefit. So that's why we suggest 20% down on a first time home buyer. We lighten up and go, oh, if you want to do five or 10 or 15, that's okay because it gets

you into the house. But the downside is you're going to be biting the bullet on that PMI. But I mean, that's a lot of money money so it makes no sense at all scott i mean you're you're i mean ed i'm sorry you're you're you're asking the right questions and uh the best way to to do to keep people honest is get another bid so go to churchill mortgage talk to them and um they can take care of you in tampa for sure they've been an advertiser with us for 30 years, and that team, Mike Hardwick and that team, do a great job. Hey, man, thank you for calling in. I wish it was easy, but it's good.

I wish I knew the answer. I don't, I don't, I don't. But I agree with you on the frustration. I think you're getting the runaround some way or another, but maybe there is something. I don't know. Keep pushing until you learn. Scott's with us in Milwaukee, Wisconsin. hey scott hey uh dave and john thank you thank you for taking my call sure how can we help so i'm on uh baby step baby step two uh i have 136 000 in student loans um and was wondering if using the equity I have in my house to, in about four or five

years down the road, either refinance or take out a HELOC to pay off that student loans when it becomes an option. Well, you didn't pay off the student loan. You just moved it onto your home. If you don't pay a student loan, they don't foreclose. If you don't pay a student loan, they don't foreclose on your house. If you don't pay a HELOC, they foreclose on your house. You just increased your risk substantially.

You just put your house on the line for your stupid student loan. No thank you. Sure. Even like refinancing to a 15-year. Again, you just put your house on the line for the student loan. You didn't pay it off, dude. You just moved it. You understand, right?

Yep. And paying it off means that you don't owe it anymore anywhere. You moved it with more risk. Yeah. Yeah. So what's your household income? About 100. Cool.

Good for you. How old are you? 33 and. Cool. Good for you. How old are you? 33 and four kids. Good for you. Does she stay at home mom full-time or what? No, she works part-time. So what's your total household income? $100,000.

Oh, the $100,000 includes her. Okay. Yeah. How old are the kiddos? One, four, 11, and 12. What do you do for a living? Physical therapist. Good for you. You paid a lot for that.

If that's all you on PT, you got hammered. Okay. Most PTs I know are making more than $80,000 a year. Is it your market? What's the deal? It just started. Oh, it just started. Okay. I betTs I know are making more than $80,000 a year. Is it your market? What's the deal? It just started. Oh, it just started. Okay.

I bet, didn't you? Yeah, so base salary of about $70,000. When did you start? And I work weekends. When did you get out? When did you get your PT? 2018, so about three and a half years now. Okay.

Yeah, but john's right you're gonna you should see ten thousand dollar bumps along the way here pretty quick as you get some experience and you got the ability to add some hours except for the fact you got a bunch of littles at home but the uh yeah tear into this thing i want you to just get just roll up your sleeves and go bust your butt stay out of restaurants no vacations and get this thing knocked out and then when your house is paid off it's paid off you didn't have a big butt student loan over there hiding behind your mortgage acting like it didn't happen it's a form of financial denial uh so now i and i'm going to help you scott i've been right where you are and didn't know what

to do it's we've got the answer it's called financial peace university and if you'll hang on i'm going to pay for it for you and your wife and your four littles and i want you to go through this class it's nine lessons and we're going to jack you up jazz you up and teach you what to do and if you'll go do exactly what we teach you should have this paid off in about three Cheers. This is The Ramsey Show. Rachel Cruz, Ramsey personality, is my co-host today as we take your questions at 888-825-5225. Our question of the day is brought to you by Neighborly, your hub for home services. Don't wait until the AC or something else goes out. Neighborly helps you

find local providers like AirServe, Mr. Appliance, Dryer Vent Wizard, and Precision Door Service. Go to neighborly.com. Great company. They'll help you out. Yeah, so today's question comes from Jeremy in Pennsylvania. I am doing a will. I'm 55 years old and have a wife and two adult children. I'm split between leaving everything to my wife or going ahead and leaving things to my kids as well. There are certain things I want my kids to have, but I don't want my wife to think that I don't trust her to carry out my wishes if I proceed her. Is it weird not to leave everything to my wife? I mean, not necessarily. It is her money too, though. I mean, it's not just your money and

your stuff. It's you guys together. But I think if you were to say, hey, if I pass away, what does it look like for your life you know this is you talking to your wife of what do things look like for you what um what will you have will you be taking care of making sure she's your priority first because your adult children are second in that and then if everything is fine and good like I'm okay with you saying okay you know do we want to get leave them you know x amount and x amounts but all of that is communicated with her because this is her money too that's what i would say there's two things built into your question that are disturbing the way you state this is almost like there's a possibility this is your second wife and these

kids aren't hers oh and if that's the case then um you know then you've got to have this discussion and go i i'm going to leave you this amount to take care of you and this amount for them because i want to do that if that's the case if not the other thing that may be hidden in here is there's like some reason that you feel like she's not going to do this. She's been irresponsible or you all haven't been unified in your decision making on money. And so you have a reason to kind of worry that she's not going to follow through on your wishes. If that's the case, then that's another issue that's different than a will. That's a marriage issue, a trust issue that you've got to get into. Yeah, for sure.

Yeah. And so that's two possibilities i mean the third possibility is as simple as um these are her kids your kids and um you can do whatever you want to do with your money but it's also hers as rachel stated so we ought to talk about this and just figure it out together what's you know what is your motivation on that? And primary is that she's taken care of. If you don't leave her enough to have a wonderful life because you gave too much to your kids, your grown kids, I would not agree with that.

Your primary responsibility is to her. Okay, so I just thought of this question as we were talking this out. If you did have a second marriage and all grown kids or even teen i mean maybe even well i'd say grown kids he said what yeah what is the what is the responsibility if someone is bringing in money to a marriage and they are one now yeah but she has four adult kids, and he has two, and they're later in life. You know what I mean? Like, does he have responsibility to leave money to those four kids,

or it's going to be left to her? So she's probably going to, you know what I mean? It gets really complicated. Yeah. Because, you know, second marriage could be 25 years long. You know? It could be longer than the first. Yep.

And it wouldn't be that unusual uh and so uh and you know the grown kids are all okay and he wants first to make sure his new wife is taken care of that wouldn't be bad yeah wouldn't be bad sure so you just got to think that through but there's no inherent entitlement that these grown kids are in tight adult children are entitled morally ethically spiritually none of that um and um it's it's not unusual in the in a situation with a step mom as an example uh for the adult kids to resent her getting anything and that's a sense of entitlement yeah that is wrong. That sense of entitlement is wrong. But so I've got a wealthy friend who's in his 70s, got remarried recently. And I don't know

what his estate plan is, but his kids are perfectly, his grown kids are perfectly functional. They don't need anything. So were I in in his situation i will make sure she's taken care of and i want to leave some to them yeah uh but uh and he's got the the you know the ability to do both in that case so but what's primary i i think your spouse is probably going to be primary even then yeah uh if you had to look at it do you think the stepkids are entitled to? Yeah. Not necessarily, no. Yeah. I mean, that's almost prenup stuff. Yeah.

Yeah. But it's the complications of yours, mine, and ours. Mm-hmm. And it requires even that much more constant communication and discussion about the estate plan. You know, so like your brother and your husband are in an estate planning meeting with me and your mom tomorrow, you know, and Winston, you know, is not in my bloodline, but he's married to you and handles a lot of our real estate.

And so, yeah, we're going to be there tomorrow talking through, you know, some changes, what we're doing, you know, what's that look like? Everybody's got to be in it. You know, everybody's got to know what's going on. Am I getting cut out of the wheel, Dave? No, you're getting cut out of the wheel. Really, you know, changes. It's so freaking complicated, we have to review it every so often.

Yeah, no, totally. Just to make sure we remember what we said we were doing. And I think that's another piece to this, too, that I think is important. Another element is as an adult child right as we all are but that's why doing this in your 20s your 30s your 40s is setting your own family up right regardless of where your parents depended upon your parents or any messiness that comes out of wills and all of this like that you are in a position that you're taking care of yourself yeah and that and any of that's just gravy. Yes.

Yes. Gravy on the biscuit. That's exactly right. And then the second thing that comes out or another point that comes out of this discussion is, A, you need a will. Yes. Everybody does. And 78% of Americans die without a will.

Stupid. It's just stupid. Get your will done. Go to Mama Bear Legal Forms dot com. Get your will done. The second thing is tell everybody what's going to happen like if you've got stepchildren we're talking about her kids and she did not bring wealth into the marriage or she did and they're going to get hers but they're not going to get yours tell them yep tell them so you know or or tell, I'm going to take, tell your kids, I'm going to take care of my new wife with this and whatever's left over, you're going to get.

And so they don't go, well, I'm going to go ahead and get all that out of the way. You know, let's just tell everybody where it is. Go ahead and have a reading of the will. And if somebody's going to be pissed off, let them do it while you're alive. Yep. You know, and another question we get all the time is how do i help my parents talk about this stuff how do i get my parents to do a will how do i start these kind of conversations because of importance so if that if you are in that situation that was in one of my fpu classes that i when i coordinated

it uh we're done now but one of the questions that came through a couple weeks ago yeah it was a lady that um she said that she was like i my husband's parents told him that he's gonna have to be the executor of everything but he didn't know what's in it and he didn't you know and so i'm like sitting down and saying hey we want we want this communicated really clearly so that your wishes are granted and your legacy how you want it is to be is to be on. So that's a reason to get it. I refuse to be the executor of something, and I don't know what it is. That's asinine. It's a secret, but we want you to be in charge of the secret.

No, not a chance. Not signing up for your toxic BS. No thank you. And that's exactly what was going on. So no, we're not doing that. We're going to sit down. Everybody's going to know. We're all going to talk about it, and then I can execute. I don't care if I get

any money. I'm not after the money. I just want to help you execute your wishes. That's what the executor does is execute your wishes. Execute your secrets and your toxic BS. Not a chance. Not doing that. There's a great line at the end of a Taylor Swift song, Antihero. What's the line?

She says, I had a dream. Well, I don't know if you have time to quote the whole thing. But she, yes, she had a dream that her stepdaughter married for the money. Then found out she wasn't in the will. And they all said, she's looking up from hell smiling. I can't even. You can't finish it for laughing this is the ramsey show good our scripture of the day proverbs 425 let your eyes look directly forward and your gaze be straight before you stephen covey said most of us spend too much time on what is urgent and not enough time on what is important.

You know, Covey had in his book, Principal-Centered Leadership, it may have been in Seven Habits of Highly Effective People, too, the quadrant of time that you manage in four different quadrants, urgent and important. Phew. Urgent, important. Urgent, not urgent. Important, not important. Shoot. Urgent, important. Urgent, not urgent. Important, not important.

Yeah, and we spend too much time on things that are urgent but not important. It would be like answering your email or making sure you check your Twitter feed. The slave of the digital world. All right, Robert is in Atlanta. Hey hey robert welcome to the ramsey show thank you so much for taking my call sure how can we help so uh my wife and i have found ourselves in an unsafe house we believe and so we're uh we're thinking that we're gonna have to move um really asap what's wrong with the house? Well, so we didn't really do our research up front.

We had a baby that was due within a couple of weeks by the time we bought it. And so we brushed in the upsize and make room for the baby, but the location just kind of is more unsafe. We hear a lot of crime activity going on around us, you know, gunshots every now and then. So that's kind of the gist. What was the event that broke the camel's back? What was the latest thing that went, I got to get out of here? Yeah, well, I think within the first two weeks, you know, we had our cars broken into. I'm done.

I'd say I'm done. Sell it. Yeah, there you go. sell it get out get out of dodge this is you're living dodge city let's shoot up and down the street right right yeah right that's it get out of dodge no pun intended but yeah really do it yeah i mean and it doesn't matter how much we sell it for well i mean you don't have to panic uh i mean do you have any money it's important not urgent yeah do you have any money might be urgent i don't know yeah we we've got about thirty thousand dollars uh liquid what'd you pay for the house we paid 345 okay call a

ramsey call a ramsey trusted real estate endorsed local provider for real estate sit down with them and tell them that you want to sell the home in what is a reasonable period of time, a reasonable price for the house to sell in 60 to 120 days. Okay? And then decide, do I want to go ahead and move or can I make it that long? Okay. Understood. Can you make it that long? Okay, understood. Can you make it that long?

Do you feel safe enough to stay two or three more months, or do you need to go ahead and move now? Well, we've been there for six, so, you know, I think three more months probably could happen. Six months. Right. And two cars got broke into. Okay.

Right? Right. That's got broke into. Okay. Right? Right. That's right. Yeah. Okay. Y'all talk about it because, hey, listen, if they're shooting up and down the street and they're breaking into my cars and I got a new baby, I'm going to go rent an apartment and move and put it up for sale.

And when it sells, I'll talk about buying somewhere else. But right now, we may not even buy. Just go get your family safe, right? You've got to get out of the freaking war zone. Am I missing something? No, the other question was just, you know, is renting an option? You know, if we were to move, you know, renting is fine because we need to, you know, build up some capital for the next down payment

and we can take our time to be calculated with the next one, of course. Yeah. But, you know, is renting an option for the current one? Yeah. To start with, it's your only option right now if you move out this weekend because you don't feel safe. Okay. So you're going to be renting a while. And that's okay.

But if you say, we're going to rent for two years, build up cash, and slow down, slow our roll, and get a much more diligent, careful process when we buy next time. Sure. Yeah, I'm sorry. I may not have been clear. I guess the current house, given that the atmosphere is changing in that area, appreciation could be a thing in the next few years. And so if we could hold on to that.

No. Okay. No. If we have to move because our family is not safe, we're not counting on appreciation. Okay. You live in Dodge City. No. I mean, the cool people are living there, mean the cool people are living there but the cool people

are not scared of the bullets okay that's fine you got hipsters next to gangsters i got it okay but that that's one of these gentrification neighborhoods but this is okay you can do that but you told me with the start of the call you have a new baby and as a dad you don't feel safe so if you don't feel safe don't invest in the area okay 10-4 understood thank you so much get out of dodge man yeah it's that and also you know yeah if you guys don't feel safe of course then move like that like your peace of mind is is is very important in that way. But also, we have friends that live in a part of Nashville, though.

There is. There's a lot. I can count four or five areas on my hand right now. Yeah, and people live there, and they're expensive houses. You know what I'm saying? And some of them are nice houses. And it's the tolerance level of what feels right to you. So that's why I'm saying, Robert, I'm like. It is the difference in

a boomer and a millennial i think so for sure because no boomers no boomers are going to live next to gangsters and call it fun millennials think it's funny i don't understand i think it's these hipsters next to gangsters makes no sense to me it makes no sense but it's everywhere it's i mean i get it i see it happening and it's the regentrification neighborhoods is the nice way of saying it but um and you know and he's right if if it continues and enough people don't get killed in the process then if it continues i think then it will be a huge investment in nash Nashville in a suburb of, like it's a, we are. We're in a suburb.

We're in a bubble. But I just saying, we have friends that have moved here from Chicago, from other areas. And yeah, you hide your purse. Like, it's just like, there's a different safety measure of how they're used to living life than we are. So like, I'm saying your tolerance for all of that is very low, which is not wrong. No. But I'm also saying to Robert. I just don't want to live next to gangsters. It doesn't matter. Well, I don't know if that's what low which is not wrong no but i'm also saying to robert

next to gangsters it doesn't matter that's what his case is you keep saying that i don't know i don't know what it is i mean when they're shooting up and down the dadgum street and you call it fun i mean i don't get this not you not you but i'm just saying people some people have a higher tolerance for where they live and so but robert that's what i'm saying it's so individual and if robert and his wife aren't comfortable with bullets and car being broken into when they have a new baby that makes them normal yeah that makes them smart yeah i don't i mean i hear you but i'm also hey i broadening childhood friends of yours bought house door kicked in robbed the whole place in one of those neighborhoods right after you got married i remember the story okay won't name the name

we're on the radio but the uh yeah this stuff it's it's it boggles a boomer's mind i'll just tell you you i get it intellectually emotionally i don't understand why not go somewhere else i don't get it well it's like it's the company lives in some of these places, and there's great restaurants. Half the guys in the booth in there do. Probably. I don't know. But, yeah, it's crazy. And the fun one, have you seen the Nashville Judgmental Map?

Oh, gosh, don't. Stop. We're moving on. No, it's fabulous. No, we're moving on. I don't even know. I don't want to know. I'm nervous.

I'm starting to get nervous. It's making fun of us out here. It makes fun of every neighborhood. Okay. And so it's an equal opportunity offender. And it's great. It's like this one's gangs. This one's gangs that kill cats.

This one's hipster trust fund babies. Why? Why are we doing this? This one's boomers. This is boomers like Ramsey. You know, I mean, it's like it makes fun of everybody. It's hilarious. Oh, I think it's funny. I sent it to one of my buddies who bought a house in one of those neighborhoods yeah so you gotta have fun with this y'all gotta have fun with it i i truly

think that that is that is a difference generationally that i've seen that um that is way different because the the generations prior to mine and then mine were suburbanites and they came to the suburbs for a safe left yes yeah they took to it they either left the farm yes they left the farm or they left the inner city to come to a safe bubble and then the generations following are going back into those areas and re-gentrifying them and living in them. And that's what he's dealing with. That's what he's dealing with. So it's very interesting.

All right. That's a fun discussion. Rachel Cruz, always a joy. I'll be back tomorrow. The guys in the booth, always a joy. Get ready. Get ready. Y'all just get the hate mail lined up.

We're going to burn it for Kenlon. That puts us out of the Ramsey Show in the books. We'll be back with you before you know it. In the meantime, remember, there's ultimately only one way to financial peace, and that's to walk daily with the Prince of Peace, Christ Jesus. Hey, it's Rachel Cruz. If you like what you heard in this episode and want to know more about getting started on the Ramsey Baby Steps,

go to ramsesolutions.com and click the Get Started button. We'll help you figure out the best next step for you based on your specific situation. That's ramsaysolutions.com and click Get Started.