The Ramsey Show - App - Pat Lencioni on the Six Types of Working Genius (Hour 1)

Episode Date: January 12, 2022

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Live from the headquarters of Ramsey Solutions, 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. This is a show where we talk about your work, we talk about your relationships, we talk about your money, and we talk about you right in front of you. It's a free call at 888-825-5225. Some say the advice is worth exactly what you pay for it.

888-825-5225. One of the things we do around Ramsey is a brand called Entree Leadership where we talk with small businesses and business leaders around the globe, but particularly in the United States, about how to run a business properly and how we've grown our business from a card table in my living room to a major national brand. How do we do this? What are the steps? What have we done?

How do we run a business? And in the process of doing that, one of my favorite leadership writers and speakers has become one of my best friends. He's just a great guy. Pat Lencioni is with has written many many many best-selling books and uh hanging out with us for a uh well all day just about we've had you on every show in here you're kind of popular when you come in the building it's a party it's a party baby pat speaks at uh entree leadership summit this coming may among many others jay leno will be there me and i'm trying to think of all the other people deloney of course will be speaking and coleman be speaking and i'll have

to think all the rest of them but it's going to be a lineup it'll be another party about 3 000 folks will be there and we are really really excited about that oh jaco's coming back this yeah yeah that'll be good and i found the list here uh will grito oh man will is incredible have you ever met will? I have not. Oh, you're going to love him. And Dr. Henry Cloud will be back. Our friend as well, Janie Kern Lima. And as I said, Jay Leno.

Jade Simmons. Jade is an excellent speaker. So you'll look forward to seeing her. It's a great lineup. The Entree Leadership Summit, Orlando, Florida in May. Make sure you make plans to attend. But Pat's hanging out with us today. Welcome back. It's great to be here. It's so much fun. We appreciate you. The book that we have

adopted around here, many of them, the five dysfunctions of a team is going around this place all the time. Apparently, there's a lot of dysfunction in here. We need to do it over and over again, but we do it all the time. We do conflict well. The advantage has gone around here, and certainly, Ideal Team Player has become the hand has gone around here and certainly ideal team player has become the handbook of our recruiting and our our deciding if we're going to keep people in hr and that kind of a thing the humble smart model is just lights out and the new stuff that you're working on is oh it's shall we say genius the working genius yeah it's really good i appreciate that it came about by accident.

I've never worked on anything that I've been more excited about than this. So the model is called the Six Types of Working Genius. And, David, I was here about a little over a year ago when we launched this. Almost a quarter of a million people have taken it. The stories we're getting. I was one of the first ones to take it. Yeah. You sent it to me and you went.

We tested you on it. Yeah. And you went, oh, it's accurate because there is no genius. I didn't break the model. I didn't break the model. It ferreted me out. Yeah. It's these things.

The book is out? No, the book is not out. There's a shortage of trees. Oh. Or a shortage of paper, I should say, not trees. So it's going to take longer to print this darn thing, if you believe that. So it's going to be out this late spring, early summer. And we started buying trees in August to put out a book yesterday.

So Everyday Millionaire, or Baby Step Millionaires came out yesterday. And, yeah, we were fighting tree shortage all the way back in the summer. Isn't that crazy? Getting ready for this. Yeah, it's paper costs, too, through the roof. Right. But, yeah. All that aside, Working Genius Book is underway, and the assessment is available today.

Let's talk about what this thing measures, these six types of working genius. So there are six activities, Dave, that are required in any kind of work. And the corresponding, there are six geniuses that people have, God-given talents that give them joy and energy. But we only have two of the six. So we need all six to whether we're running a radio show or running a company, planning a family vacation, running a home, a marriage, anything else. We need all six, but every individual just has two. And the two areas of genius are where you get joy and energy and you tend to do better, you're more successful, successful you make more money and you come home from work a lot happier it's like you're a natural you're a natural and god lets everybody be a

natural but if you don't know what you're a natural at and your job description is for your two weakest ones you're screwed there's a lot of people listening to this show dave that are miserable at work and it's because they don't realize that they're doing exactly what God didn't intend them to do. Intended for them to not do. Right. So this assessment that takes 10 minutes to complete, and you get the result. The stories we've gotten, Dave, a woman called us and said she was about to sell her business. She was in the staffing business.

She took the assessment. That very day, she was like, oh, my gosh, I'm doing the wrong things as CEO. I need to do the things I'm best at things as CEO I need to do the things I'm best at reorganize my team to do the things I'm not best at she decided she was going to completely reorganize she's happier they're more successful than they've ever been

and she didn't sell it she did not sell it because it was just a matter of the wrong skill set we had another guy who was about to go to a performance review and he knew it wasn't going to be pretty because he and he did the assessment and he looked at the results. It takes 10 minutes. And he looked at the results and said, well, crap, I'm in the wrong job. He went to his managers and said, this says that this is what I'm good at. Is there any way I could use these things? They said, we have another job over here. That would be perfect. The guy got a raise because he actually

had vocabulary for saying, this is what I'm great at. And they said, we need that. Instead of getting smacked down. What are the six geniuses? The first one is the genius of wonder, which is the people that have their head in the clouds. They ask questions like, why is the world the way it is? Is there a better way to do this?

I wonder what our customers really think. They ponder things. It's at 50,000 feet. It's really important. But a lot of times people don't value that. I was working with a high-tech company who was behind the market in their products. They did the assessment. None of their executives had wonder. In fact, most of them had it as their lowest area, their frustration. And they said, this is why we're behind. Don't wonder you're

behind in the market. Yeah. And the CFO said said we better hire a wanderer or get more people in here to help us wonder the next one is invention this is something i like and that is these are people that love to they're just built to come up with new ideas they do it even when it's not called for and so they they like a clean slate they like doing things from scratch and they just love to invent the The next one is discernment. This is one of yours. This is your chief area. And that's why I watch you when you're taking calls. Discernment is when you can just get information

and you just parse it in a way that uses instinct and intuition and variable thinking to come up with ideas and solutions and you evaluate things very quickly. It's not magic. It's just the way God wired you. So discernment is really important. Once you discern an idea, then somebody has to galvanize it.

And that's the person who just loves to sell. They love to get up in front of people and say, let's go. Let's do this. This is going to be great. Lead the charge. Yep. And I can do that, but it's not one of my areas of genius. And when I have to do it too much, I get burned out.

Yeah. That's what brought this whole model about. I was burned out in my own company. And people said, what's going on with you? And I said, I don't know. And that's how we figured this out. So wonder, invention. Discernment.

Discernment. Galvanizing. The next one is called enablement. And it's enablement in a good way. These are the kind of people that you go to them. They're fabulous on a team. and you say, we need help. And they're like, got it. I know exactly what you need.

I'm going to make that happen. The last one is called tenacity, and that is people who just love to finish stuff. That's your other genius. They're like, no BS. Can we just push this across the finish line? Get it done. Get her done. Get her done.

Check it out. Working. Pat Lencioni with me this half hour. We're going to come back, take some calls for him. Workinggenius.com. If you want to take the assessment, enter the promo code Ramsey. You get 25% off. It's usually $25.

That'll make it $18.75. Oh, come on. You spent that just thinking about this. This is the Ramsey Show. For a lot of you, last year was another year of just trying to survive. But you don't have to live like that. You can have confidence in your money and your future. So if you're tired of being stressed out all the time, you can decide to make a change. You can follow a plan that works. For almost 30 years, Financial Peace University has helped millions of people take control of their money you'll learn our proven

plan to save money pay off debt build wealth and give generously watch fpu on demand or get plugged into a class for encouragement and support from other people you don't have to face another year of stress and worry you can have confidence in your money f FPU is only available with a Ramsey Plus membership. Start for free by visiting RamseySolutions.com slash FPU. That's RamseySolutions.com slash FPU. Welcome back to the Ramsey Show. Pat Lencioni, my guest this half hour, one of our favorite leadership speakers and teachers around the world. We've learned so much from him. He teaches at Entree Leadership Summit almost every year and will be this coming May as well.

If you don't have your tickets yet, there's quite a lineup, probably one of the top leadership events of the year coming up in orlando in may i think maybe sold out i may need to quit pushing it but um find out before i run my mouth here but we were just talking about his new assessment it's not that new about a year old with a book coming out soon as we get some trees uh called the genius your working genius go to workinggenius.com enter the promo code code RAMSEY for 25% off the assessment, normally $25. It's $18.75. These segments go so fast with a discount.

If you put in the RAMSEY promo code, it knocks 25 off. Okay, so these segments go so fast. I want to make sure we emphasize the importance that this is not merely for work. It's not merely for someone squaring the middle of their career or merely for a corporate leader. It's for just about anybody that's getting close to wearing adult clothes. Yeah. You know, we had a pastor call us and say he felt terrible about being a pastor.

He thought maybe he shouldn't have been one because he wasn't good at sermons. And he didn't understand that, and he felt terribly guilty. He looked at it, and he said, oh my gosh, I don't have wonder or invention. That's where a lot of these sermons come from. But I have these other things. Oh, I don't have to feel bad about this anymore. I'm going to get people to help me with this. And he said 15 years he felt bad about maybe he shouldn't have been in that job. My favorite story is a guy who called and said, hey, Pat, I thought my wife didn't like me. And we laughed and he goes, I really thought that she was kind of down on me all the time because I'm an inventor. So he'd come home and he'd say, honey, I have a great idea for our family or whatever else. She was a discerner.

So she would say out of love, well, here's why that might not work. She's a dream killer. Right. And they literally took this on their anniversary, he said. And he said, suddenly she goes, I'm loving you when I do that. And he was like, oh my gosh, she's not against me. She's trying to help me. But I just think, I don't know how anybody, if you're a high school student or a college student, or if you're retiring, figure out what your geniuses are, because that's where you're going to get joy and energy. And you talk about financial peace. Having that peace of knowing you're doing what God intends you to do

is so powerful. Big deal. It's a big deal. Workinggenius.com. Go take the assessment. You'll be glad you did. We're kind of big on assessments around here. We've got a bunch of them floating around the building. We've done a few. We've recommended a bunch from other people as well. Our friend, Les Parrott, his SIMBUS assessment for people getting ready to get married is absolutely incredible. None of us that have assessments or create them or have these ideas around them believe that anything is absolute. But what it does is it gives you a tendency it gives you a lane to run in and you can swerve a little in that lane if you want to absolutely but but you just when you take one of these things and you have a little better

understanding of who you are then it it always leads you to more success yeah you know at the end of the day dave what this does this is all, too. It's very specific to work. So it's not just your personality that's like getting things done. But what happens in the workplace is that we do two things that we shouldn't do. We judge others unfairly, and we judge ourselves and feel guilty. And so sometimes you look at somebody and you say, gosh, she's lazy, or that guy's not very smart. And then you look at their working genius and go, oh, she has no tenacity. It's just that she, that's not laziness. She's got a work ethic, but she's not a finisher.

Or that guy's really bright when it comes to implementing, but he's not an inventor. And so when we judge other people and attribute it to their virtues or lack of virtue, that's a really bad thing. It's so much better to go, oh, that's just how God wired you. Now, that doesn't mean we still don't have to do things.

And you still have to judge the virtues. I mean, because you have to, but you've got to parse those out. Yeah, but if you have a job that is causing, that needs completion to be part of the job, like a project manager, you know, you need to drawstring this thing and get her done. And then you've got someone that can't seem to do that, and it's this stuff. Then they get accused of the saying around here will end up being, oh he can catch him but he can't clean them right you know that kind of stuff we need catchers and cleaners yeah exactly exactly carol is with us in alexandria louisiana carol your question for pat lincione yeah thank you both for having me on today uh pat just for that we are beginning to use working genius at

our company but my question is in a just for that, we are beginning to use Working Genius at our company. So my question's in a little different direction today. We are loving Working Genius. We use a lot of your resources on engagement, team performance, advantage, all of that work. And we've also been looking at research from Marcus Buckingham on engagement and resiliency. So in that research, you know, he talks about it being the frequency of one-on-one meetings and check-ins, not necessarily the medium like person in person versus virtual or the depth of the content. I was looking at how that relates when we look at the

three factors of job misery, specifically irrelevance and anonymity. How are you seeing that in the work that you're doing in terms of that frequency versus the depth of the content? Dadgum, she knows your content better than you do. I know. People come up to me and go, I love that character in your book. And I'm like, yeah, tell me more about that character because I don't remember when I wrote that.

Well, Carol, first of all, Marcus Buckingham and Dave and I sat down at Entree Leadership last year and talked about this. That was a great meal. It was. And so I think what he talks about I think is really important. The frequency of communication is critical. And the medium is not as important. I mean, I've seen people build strong relationships over Zoom.

I prefer it to be in person. Don't get me wrong. It should be as when you can. And then there's people that work right next to each other and don't develop relationships and don't have good talks. So I would say they go very much together. And I think you hit the nail on the head. Anonymity, if you're not having regular communication with somebody, they're not going to feel known.

And irrelevance, if you're not spending time with them and talking about the work they're doing, then they're not going to feel like it matters. So I think you hit the nail on the head that that's where marcus's stuff and my stuff come together on um on the engagement and what she's talking about is a book dave that i wrote years ago called the three signs of a miserable job and i had to change the name because nobody could take it to work so it's now called the truth about employee engagement published a book here called quitter one time nobody could take that to work right so. So I love, Carol, that you made that connection because when it comes to employee engagement, what I say is if your manager knows you, if they remind you why your job matters

and you have a way to measure if you're doing a good job, you're going to love your work. And regular communication with your manager is critical to that. That sounds so obvious. It's just the tag teaming, the handoff of the baton with that regular frequency that that ensures that you're touching all three of those jobs job misery basis exactly if there's not regular communication you're not going to be able to do that you can't ensure that that's occurring if you meet once a year then you know for a review you're you're not getting you don't know if those three things are happening or not right and it doesn't it shouldn't every interaction shouldn't be formal. Like I'm sitting down with you. It's like you're talking in between things.

I have to put them on the calendar. My calendar's full. Yeah, you got it. So to do one-on-ones, I got to book them. For my immediate team, I'm around them a lot. But for other things, I do too. But you're busy. I've seen your calendar.

Well, every time I'm around somebody, usually work. Otherwise, it's on a project of some kind. We're working on something. We're doing an event tomorrow night. We're launching a book. We've got Pat Lencioni coming to town, whatever it is, you know. So I'm in a group setting,

and that's not conducive to one-on-ones usually. If you rely on it being just haphazard, it's not going to happen. I have to ding, ding, ding. I've got to ring the bell. It doesn't work. Brent is with us in Madison, Wisconsin. Brent, your question for Pat.

Good afternoon, guys. Thank you for taking my call. Huge fan of the work you both do. Thank you. My question today is really around the ideal team player. So a little background. My corner of the business is about 88 total employees, both direct and indirect reports. About 15 months ago, I led my direct report leadership team through learning

and implementing the ideal team player practices in our hiring process. After a 12-month hiring cycle, we're feeling great about the candidates that we've brought on as team members. With that, when a new hire starts, they're gifted that book as part of their welcome basket to get on board with the concepts. Our highly engaged team members. Boy, we're running out of time. Quick question. Sure. My question is, we've got folks on the highly engaged end that are on board with them and new hires and those that we're coaching, but I got to get the ones in the middle on board

and understanding the concepts. And within Working Geniuses, galvanizing is not our strength. Okay. Got it. Here's the thing. Sit down with those people in a room and just say, everybody, rank yourself first, second, or third on humble, hungry, and smart. Everybody's got an order.

You have to force rank them. Just do a little group teaching. Yeah, and work. And you don't have to be a good teacher or a galvanizer. Just put the concept out there. It'll germinate itself. And people will say, this is my third and let's all talk about that.

It makes a big difference. You can pull off their answers into a one-on-one if you need to, if you've got a problem. Absolutely. That's good stuff. Pat Lencioni, thanks for hanging out, brother. Great to see you, Dave. Good to see you, man. This is The Ramsey Show. We'll be right back. Wow, what a week we are having at Ramsey. It is launch week for the new book, Baby Steps Millionaires. It is selling at a blindingly wonderful rate.

Thank you, people. We are so thankful for all of you. You are amazing. I hesitate to say how many books we've sold. It's nice. It's wonderful. Thank you. Thank you.

Thank you. Thank you. George Campbell, Ramsey Personality, is my co-host today. And a little preview. Are we supposed to preview this? We could preview it. I'm fine with that. Into the future, a couple of hours, George will be doing with his wife his debt-free scream.

He's paid off his house i'm sure everyone listening did a woo too i'll be doing that too i'll be doing i can't wait it's a signature woo so there you go and speaking of signature woos on the stage right here in ramsey solutions on the debt-free stage brooks and page are going to kick off the debt-free thing welcome guys good to have you thanks good to be here good debt-free thing. Welcome, guys. Good to have you. Thanks. Good to be here.

Good to be here. How much have you guys paid off? $162,645. Way to go. And how long did this take? Two and a half years. Way to go. And your range of income during that time?

First year was about 55, and last year it went up to about 180. Whoa. Nice jump. Very cool. What do you all do for a living? I'm a registered 180. Wow, nice jump. Very cool. What do you all do for a living? I'm a registered nurse. Oh, there it is. I'm a TV photojournalist.

Okay. Well, neither one of you have had anything to do in the last two years. Definitely not. Very bored. Oh, my gosh. Wow, way to go. Where do you all live? Milwaukee, Wisconsin.

Okay, cool. Well, way to go, you guys. What kind of debt was this $163,000? Oh, Lord. A little bit of everything. We were certainly normal. We had credit cards, student loans, cars. You name it.

A little medical debt. Y'all were just like pitiful normal. Yeah. Yes. Yeah, disgustingly so. Wow. What was the big one here? Student loans. Altogether, our student loans topped in just over a hundred

thousand i think so most of it was that was that nursing school uh no i have a degree before nursing school so i was paying for the degree i didn't even use so oh there's that one okay very cool very cool so how long you guys been married uh three years in december okay so right after you come home from the honeymoon it sounds sounds like we went, made a list of the debts and had an oh my God moment or something. What happened? Tell me the story. So I saw a high school classmate post about some success of paying off debt using your

program. And leading up to the wedding, I was having a lot of unsettling feelings because I just felt like we were drowning in debt and we financed the entire wedding, $22,000 of that why not yeah yeah absolutely um then we got back and we were just it just felt like we were drowning and we needed to do something and um I mentioned something to her about is like hey I saw this high school classmate that posted this on Facebook and we checked it out um kind of watched a couple of videos wound up ordering your book uh read the book and then uh enrolled in an fpu class wow wow look at you that's awesome okay so i'm gonna guess and say uh brooks is the saver no no he's the spender

he's the one that was feeling the weight of this yeah he went all in it was all like oh i'm stressed out i'm freaked out i didn't think usually spenders are like whoa i'm in congress who cares yeah i'm much i'm the more emotional of us too so i think that maybe had something to do with it okay all right i was doing all the budgeting and i was scared but you know he was just the free spirit and i'm like yeah it'll be fine you know one day we'll make more money and it'll be fine and i think when when he approached me, it was like, okay, like we're on the same page. Like we know we can't sustain this and we need to do something about it. So it's game on. Game on.

You read the book and you went, okay, I'm going to turn this up a little hotter. We're going to go on through Financial Peace University. I mean, I think within six weeks of getting married, we were starting our first budget and paying off debt and enrolled in an FPU class. Wow. Yeah, we just took it right to the finish line. So you kind of had this guilt about all of your free spiritness. You were doing all the spending, and you felt the weight of this, and you're like, we've got to do something. We can't keep living like this.

Yeah, and it's kind of – I've actually seen a few friends and tried to warn them about this. We were kind of the first of our friends to get married, and it felt like when we were engaged everyone was kind of gallivanting us around and like gloating with us and like we were going out and spending money putting it on credit cards going out to eat spending stuff we didn't need to be spending and then the reality set in after we got married that we can't live like this anymore yeah very cool i like that that's true i hadn't thought about that you have to go on the after-engagement tour. Yes. Yeah.

Parading you around, spending all of the money that you don't have. Pretty much, yeah. Look at this. Look at this. Look here. Look at this. Look at this. Look at this.

Yeah, it's everywhere. Yeah, that's great. I like that. That does happen. So what were some of those sacrifices that you guys made? I mean, you were crushing it. You were throwing $60,000, $70,000 a year at this. Man, you guys, you went nuts here.

We worked. I mean, the nature of our jobs. I mean, we worked nights, holidays, weekends. This was the first year we actually spent a holiday not at work. We were, I mean, the pandemic actually really helped us because there wasn't anything to do. So we went to work. I mean, we would have done it anyway, but it was nice knowing that, you know, we weren't missing anything. Didn't you miss some Netflix series?

I mean, there was a lot going on there. You we didn't catch tiger king but i think we're okay for it i think you're just fine i can do it i watched it you're just fine yeah yeah it was it was easy for her to pick up hours and stuff at the hospital yeah if you said if you said if they came in and said uh who wants to work extra you're like pick me pretty much yeah when i stopped um they were like why aren't you working so much anymore i'm like i don't have to you know and it was just they got used to seeing me there like 70 hours a week and they're like where are you and for me i wasn't uh i can't like pick up hours as much at the tv station so i wound up driving a forklift on the side oh wow yeah we piece jobs together i think 2020 we filed taxes on like eight or nine different w-2s we did everything you name it we yeah we made some pretty big sacrifices but

we wouldn't change it at all who are your biggest cheerleaders outside the two of you well these three people sitting right here um my parents are watching virtually and my dad couldn't be here today because had too much work to do. But yeah, our parents and our siblings and a couple of friends as well. Yeah, some co-workers, especially as we got close. We've inspired quite a few people to at least look at their finances,

which that's a start. That's what happened with you. Some guy posted his story and you went, I want that. Exactly. And so who are the three people with you? This is my mom uh my brother and my sister-in-law awesome very cool okay good gotta know who the posse is

all right good deal way to go you guys yeah how does it feel to be free it feels unbelievable yeah if we can so we just took um a big celebration trip to ireland and in december that's incredible we actually got quarantined at the end. We couldn't come home. I got COVID and we couldn't fly back home. And just knowing that we weren't even worried about money. We were like, this sucks. We had to stay an extra eight days

and had to use our emergency fund to pay for the extra days there. But it was okay because we had the money. Extended stay in Ireland. Worst things could happen. Yeah. I mean, we we were stuck in a room but we didn't have to they slide food under the door there's a part where you're sick yeah but yeah they literally slid food under the door yeah it was uh it was quite but you know it was the first vacation we'd taken and it was like we only have to worry about money. Like, this is not what we planned, but it's liberating. I am stuck in a room, but I'm not driving a forklift.

Exactly. Good, guys. Way to go. I'm so proud of y'all. Thank you. Well done. Okay, now you've been through the Financial Peace University class. Somebody's getting ready to start right now that's listening at this moment.

What do you say the key is to getting out of debt? You were so successful. I think it's relentless determination um there's going to be times where you want to give up um it's it's having that gazelle intensity i mean like to the point where she and i both actually have tattoos of gazelles um that we got after uh we got debt free that's that's how much the gazelle intensity meant to us because that's that was the key there were so many times we wanted to give up. There were so many times being in our 20s and seeing our friends around us go out and do all this stuff and travel,

and we had to be so disciplined and intense about it, and it paid off. Was it worth it? Absolutely. 100%. Proud of you. Again, way to go. Well, we've got a copy of Baby Steps Millionaires. It's ironic that this is the week the book comes

out and it's the next chapter for your story that's where you're headed we'll also give you an extra copy a total money makeover for you to give away so you can disrupt somebody's life and you never know they might use it as a coaster but it might they might actually read it so sometimes that happens too so good stuff you guys we're very proud of you. Well done. Brooks and Page, Milwaukee, Wisconsin, $163,000 paid off in two and a half years, making $55,000 to $180,000. What's the secret? Intensity and a lot of hard work. Well done, guys. Count it down.

Let's hear a debt-free scream. Three, two, one. We're debt-free! Yeah! Woo! Woo! Wow! Never gets old. Woo-hoo!

There it is. Yeah! Game on. We'll be right back. Well, it's here. Tomorrow night, Thursday night, January the 13th, is the Building Wealth for 2022 event. Rachel Cruz, George Camel, my co-host today, and I will be talking to you about how to build wealth in this year, in this current environment. What's working, what's not, how, why, the proven plan, not this discussion of glitz and glitter and confetti cannons,

but what's real. How do you really build wealth? We're going to talk about it tomorrow night. We've got about 1,700, 1,800 people or whatever scheduled in the sold-out event in person. Sold out very, very quickly. And guess what? We've got a little over 100,000, approaching 130,000 people going to watch online, a live stream. And it's free to watch online if you want to watch on the live stream. 7 p.m. Central Time, Thursday night, January the 13th. How do you watch for free? You just go to RamseySolutions.com right now, slash wealth, RamseySolutions.com, slash wealth,

and you can register for free for the live stream. We'll send it to you. You'll be able to watch it. You're going to learn all about all the stuff that's happening out there. We got a logical, sound discussion about the whole process, and I'm looking forward to George and Rachel and I being able to talk to you guys for a couple hours tomorrow night. It's going to be a lot of fun, and it is timely. I've been doing interviews, George, all week for the book release,

and some of the things we're going to be talking about come up almost in every conversation. Very naturally. This is all the trending stuff. I get messages every single day and people are wondering what to do. They're worried. There's some FOMO. There's crypto over here. What about real estate? What do I invest in? What's an annuity? There's all these questions. And I love how simple you make it. And logic and common sense, it's wild how much it's countercultural these days. It's so rare it's having a superpower. But yeah, I was on Fox Business Monday morning. Yeah, it was a great thing.

And the first thing on there, they start talking about the dive. The crypto's taking a big dive. Yeah, it's crashing. It's been a bad week. And, you know, that's certainly not necessarily incumbent about what crypto's entire future is. But it's just they want to talk about it because, you know, whatever bleeds it leads, right? And so, you know, we get to have a crypto conversation

in the middle of the Baby Steps Millionaire book, but that's okay. That's part of it. It's okay because, hey, what works and what doesn't? The Baby Steps Millionaire book is about what is the fastest right way to build wealth. The fastest, shortest distance, right way to build wealth the fastest shortest distance right way by right way i mean has the highest probability of actually occurring and that's important yeah because i mean there's a lot of ways you could get rich but now 10 years later when when all the confetti has settled who really won where did it how did it really work out for you you know and guess

what there's some data on that yeah a lot and i've been listening to the audiobook of baby steps millionaires really enjoying that and you talk about there's there's a right way but there's also a lot of wrong ways that can distract you along this journey and so that's just as important avoiding those traps and focusing on what works deborah's in erie pennsylvania hi deborah welcome to the ramsey show hello hi how are you today better than i deserve what's up i was wondering if you could give me some ideas and how to interview for a financial advisor. I've had a couple of bad experiences, and I just don't know where to progress from here, if there's certain talk points that I should be looking for or asking about.

What was the bad experience? What happened? Well, I had a financial advisor where I had my 401 my roth 401 with and they've been they've been good for like 12 years well they just switched brokers like six months ago and since they switched brokers i'm losing like a thousand dollars a month so i need to move that somewhere because i no longer why were you losing a thousand dollars a month good question i called and left several messages they'll get back to me no phone call okay i think i found the problem okay yeah um problems not the problem's not them, it's you. It's me? How was that for a slap in the face?

It was a slap in the face. Now, I'm messing with you a little bit, but here's the thing I figured out. Most of the time when I interview people and I ask that question, it comes back to something like you said. And here's what I want you to shift what you want from a financial advisor. Not to dumb it down, but I want to change the responsibility. Okay? Number one, you should never invest in something you don't understand. So the next time that you lose $1,000 a month and I ask you why, you can tell me. Rather than my advisor didn't do his job.

No, that's your job. You need to understand what's going on with the investment. The advisor's job is to advise. Your job is to own the money. Does that make sense? Well, yes. I get reports, but it doesn't really list what I'm in. And you don't know what the flip's going on.

Group members. Yeah. You don't know what's going on. So your financial advisor is a failure and didn't need to be fired, but not because he lost $1,000 a month, but because he never bothered to let you know ongoing why your investments are doing what they're doing and what they are so you know and you can say, oh, I'm losing $1,000 a month and I really don't care because I think it's a temporary thing because I understand this.

Or I'm losing $1,000 a month because I'm in the wrong stupid stuff and I need to't care because I think it's a temporary thing because I understand this or I'm losing a thousand dollars a month because I'm in the wrong stupid stuff and I need to move it because I understand it so the second thing is after you say I'm never investing in anything again I don't understand and I don't keep up with the second thing is I never hire another financial advisor that has the heart of a salesman again you hire one that has the heart of a teacher because you don't need to be sold their services. You need to be sold, you need to be taught what's going on in your life. This is your freaking money. And here's the irony.

You probably have more money than he does. Could be. Yeah. And so you probably, you know, at the core, you probably actually might know as much as he knows on a lot of things except nuances. So I teach America how to handle their money, and I have a financial advisor. But I don't use them to manage my money. I use them to teach me what's going on, and then I make the decisions with them on how I'm going to manage my money. I never say my financial advisor manages my money.

I manage my money with their advice. If you see the difference, you feel the difference on your shoulders, I just put the weight on your shoulders. Well, right. It's having someone show me how to cite through all these codes and checks and balances. And don't put it into one of those codes. Don't put it into one of those codes unless you know what the flip it is. Right. Well, that was another thing.

The investor that I spoke to through my local bank where I have like half of my money at, I went to him and I said, hey hey i got this money i want to invest could you give me like maybe 10 mutual funds that have that that are paying over 10 a year and and and let me choose one what he has a long stand He said he gave me a list of other things that weren't even mutual funds. Yeah, because he works for a bank. You know, you don't go to the muffler shop for your transmission either. That's rule number three. Here's what I'm going to tell you.

That was the second one. Yeah, I want you to go to Ramsey Solutions dot com and click on Smart Vestor. That's a group of financial advisors that don't work for me, but that have agreed to do things the way I teach and mainly with the heart of a teacher. And and you got gravel in your voice. You got grit. I like you a lot. And I want you to use that and say, okay, this is my freaking money. You people are going to do what I say, and you're going to teach me about this,

or I'm not going to use you. I'm going to fire your butt, and that's how you need to treat this. Anytime you get anyone in the financial world who's telling you what to do instead of teaching you, run and fire them. Yeah. And you need to be interviewing them, asking questions like, how much access will I have to you? How much can I communicate with you? How often will you communicate back? What's your experience like? What clients do you work with? Ask good questions and the SmartVestor Pros will not steer you wrong. Yeah. And if you don't like one of them, don't use them. You know, if you don't like my advice, don't use it. But know what the flip you're doing.

And take your personal responsibility for the management of your money with other people helping you and teaching you. It's my responsibility to put together my estate plan. My estate planning attorney shows me some good ways to do it, and I decide. This is James Child, producer of The Ramsey Show. Did you know The Ramsey Show is one of the most popular podcasts in the world? Subscribe or follow today wherever you listen to podcasts. We'll see you next time.