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Девочка-пай Live from the headquarters of Ramsey Solutions,
it's The Ramsey Show, where we help people build wealth,
do work that they love, and create actual amazing relationships.
Dr. John Deloney, Ramsey personality, is my co-host today.
He's the number one best-selling author of the latest book, Building a Non-Anxious Life.
He's also the host of the Dr. John Deloney Show, which you ought to check out on the Ramsey Networks
because it's insanely popular.
All right, Scott's in Roanoke to start this hour.
Hey, Scott, how are you?
Great.
Thank you so much for taking my call.
Sure.
What's up?
Well, I have an 18-year-old son that's starting college in the fall.
He's actually transferring from a junior college to a four-year college.
And I got to looking into um housing for him and
i thought it might be a good idea good investment to instead of paying the rent that i'm going to
have to pay there it's at a it's in richmond virginia and so it's a kind of an urban campus
you know so it's an urban setting that it would be better for me to buy a
house and rent it out to three of his friends
can you think of a worse possible tenant than four college boys
um i thought about that you can't get the smell out.
You'll have to burn it down.
Oh, man.
You know, I looked at the exact same thing when our kids, I had three kids go through the University of Tennessee in Knoxville, which is about 200 miles from us.
And Richmond's, what, 100 miles from Roanoke, right?
150.
150, okay.
I mean, it's out there a ways, a couple-hour drive anyway.
Yeah.
And so that's what I thought. I looked at the exact same thing.
We were making a bunch of trips back and forth to Knoxville in those days
because we had, you know, we had a suite for the football tickets.
We had football ticket suite and we had,
and we're sort of down there every weekend for football.
And that was also to go see our kids and all that stuff.
And so what I ended up doing was I bought a condo for me
to stay in when I went on the weekends and I didn't let any of them live in it I paid rent
for them to rent a house because I didn't want to deal with all the headaches and the liability of
what a teen of what a college student could do to hurt themselves or someone else uh doing
ridiculous things that I just have memories of me in college and I didn't want to be renting
to that guy and so Scott I was a good kid and I did not make great choices yeah right yeah I know
all that to say I I considered what you're doing and I decided not to do it I decided I added in
all seriousness I didn't want that as a tenant because I didn't want the liability and also
didn't want the headache that it was going to be involved or trying to collect rent from these
people and um and then i got to clean up the house and rebuild it and put it back on the market after
it's all over and try to sell it and i just decided it really wasn't a good investment
because it brought to with it too much risk and too many headaches even though it pissed me off to pay rent because i had
three kids in college never at the same time so we were down there for like a decade plus right and
if i'd have you know i had the two girls in there first and then and they were there somewhat at the
same time and then daniel would have gone down last um and uh and i and i did have good kids
and i don't think they would have torn it up and your kid probably won't tear it up, but, uh, I would have a bit of it me, but,
um, or the people I ran around with for sure.
But the, uh, uh, I, I made the decision.
It wasn't worth the headache that the, the, the juice wasn't worth the squeeze.
So I'd amounted to for the risk and everything else, even though I wasn't looking at one
kid, I was looking at really a decade worth and i i would have made some money versus the rent but um but not much for the time
and the headspace and the resources it would have taken up to screw with it and i like i think
liability is an under um represented risk there a college student does one thing man and sues you
as a landlord and and the the
risk i mean there's a reason that that demographic is charged so outrageous fees for car insurance
they just don't make great choices all the time yeah and again it might not be you might have
three good young men living there and there might be somebody visiting you know that comes over one
night or somebody's got a girlfriend or something yeah yeah and they fall out of the window or something i mean i don't know it's weird stuff
happens and um uh we just had a story here in nashville of a college kid visiting from another
town that um you know uh you know lost his life he was downtown partying and um you know they
couldn't find the kid for a while and his
parents were looking for him everybody's panicked and he was from out of town and came to nashville
to party and did party and then um you know something bad happened and they found his body
later and i just that kind of stuff just scares the crap out of me right so i i don't think you
can have enough insurance for that so i i don't want to own that property that that kind of stuff
something like that weird no i wouldn't do it scott all that to say i don't want to own that property that that kind of stuff something like
that weird no i wouldn't do it scott all that to say i didn't do it i was faced with exactly the
same choice and a re and more reasons to do it than you did because i had a longer time horizon
10 years worth of this stuff not and three kids worth not just one but i did buy a condo and i
did sell the condo when we quit going down there when i gave up the football tickets and all that
and uh made some money on the condo so we quit going down there when I gave up the football tickets and all that and made some money on the condo.
So that worked out.
But nobody ever lived there.
None of the students, no college students lived there.
No college students were harmed in the making of this film.
So there we go.
Larry is with us in Orlando.
Hi, Larry.
How are you?
Hi, Dave and John.
Thank you both for taking my call and for all the help you give other people on the phone call.
It's really great of both of you.
Thank you.
I have a question.
You're welcome.
I have a question.
My personal history, I've kind of worked smart, not hard.
I've worked hard, not smart.
And so I divide my personal life financially into two categories.
It's a historical term, B.C. before common sense and A.D. after Dave.
When I heard your show, the light bulb came on
and I started going as you term it,
Gazelle Intense.
I'm retired right now.
69.
I retired just over 67.
Up until about 9-4, I went into that Gazelle mode.
I was going crazy, saving up
and working extra shifts, picking up side gigs.
So you've got a huge net worth now.
Well, I don't really know if it is.
Well, how much?
What's your net worth?
Like, the money I'm holding in the CD is getting 5.6%,
$240,000, about $80,000 in my savings,
about $80,000 in pre-dave stocks.
Pre-dave stocks make a bunch.
They sounded cool.
And then in my retirement, it's like, wow, $1,150,000. pre-dave stocks. Pre-dave stocks, they sounded cool. And then in my
retirement, it's like, wow, $1,150,000.
Yeah, I thought so. So you got a million
and a half dollars or so, and you're
69 years old. Cool. What's your question?
I feel
now, it's like I've been running, it's like
you're running a sprint. You get to the finish line,
you cross it, and you stop, and it's like, well,
there's still energy left. I got more running to do.
I'm trying to be reinvesting that money i've got when it comes out of the cd
actually there's a holding pattern sure um you need to enjoy some of it too and you need to be
generous with some of it but yeah i'm not going to stop investing uh because i'm really a long
time ago i had enough for me i'm now investing for the next generation and the next generation after that.
A godly man leaves an inheritance to his children's children, Proverbs says. So yeah,
just keep building it up. It's fine. But you don't have to do it at breakneck speed. It's
just being intentional, not intense. There's a difference. And let old Larry off the hook.
You've caught up. You've done good. Old Larry's, he's gone. New Larry's, awesome.
Good stuff, Larry.
Well done.
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Dr. John Deloney, Ramsey Personality is my co-host well if you didn't know it's national financial
literacy month and we celebrate that big time here at ramsey solutions because ever since i
very first wrote a book called financial peace people have been picking it up and going why
don't they teach this stuff in the high schools why aren't we taught this stuff when we're kids
and that's a really good excellent comment and so we fixed that a few years ago and we put together a thing called the foundations in personal
finance by uh of course dave ramsey and ramsey solutions and it has now been taught in 48 of
the high schools in america and over six million kids have graduated from that class over the years
lots of great teachers teach this across amer. So we celebrate National Financial Literacy Month by doing just this. And you know
who makes that possible? Great teachers that choose to teach this curriculum. Great administrators
that choose to let their teachers teach this curriculum. And then your kid doesn't get out of high school and not understand basics about finance
and go make stupid mistakes like most people do, including me.
So there you go.
One of those great teachers is Travis.
Travis is from Aiken, South Carolina, and we wanted to jump on the phone with him.
Travis is one of these hero teachers.
Hey, Travis, how are you?
Great, Dave. Thanks for having me. And I really want to thank you personally, too. You changed
my life and really my family's life. My wife and I have been married for 16 years, and we started
working the baby steps pretty early on in our marriage, and we've been debt-free for
three years. So obviously, I'm a big believer in the baby steps pretty early on in our marriage and we've been debt free for for three years so
obviously i'm a big believer in the curriculum well thank you well thanks for teaching the class
what school do you teach at i teach at aiken high okay at aiken high school in aiken south carolina
and how many students are in the whole school uh somewhere around 1100 okay and uh so you teach one class of this a year or what
so we teach uh another teacher along with me teaches this class and this year we teach about
150 students next year yeah next year it's going to be a requirement,
or I guess it's a requirement this year for graduation,
starting with incoming freshmen in South Carolina.
Yes, it is.
Which is amazing.
Yeah, that's great.
And, yeah, so we're going to be teaching a lot more starting next year.
I think there's almost 300 signed up for next year.
Very cool.
Yeah, we've got a ton of new schools coming on board with that new requirement in South Carolina.
They're coming on every day right now with us, and so we're really excited about that.
So how long have you been a teacher?
This is my 20th year.
And how long have you been doing the foundations and personal finance class?
We started teaching personal finance at Aiken High probably about five years ago.
I think I've been teaching it for four years.
But, you know, now that it's a requirement and been adopted by the state,
we actually had to go out and have it funded by a guy locally that's a financial advisor
that he funded the curriculum for everybody in our county,
which is awesome of him. But now that it's adopted by the state, you know, he doesn't have to do
that anymore. And it's going to be an option for everybody in South Carolina, which is amazing.
Yeah, that's very cool. Very cool. So you've been doing it four years. That means some of
the kids are out in the wild now. They've graduated. They're out being adults and stuff.
Any of them ever circle back and tell you a success story, what they learned and what happened?
Yes, sir. Well, one of the things I. She really took the, you know, the curriculum
talks about paying cash for college and how to do that, how to apply for scholarships and
really kind of make that like your part-time job. And this girl took it to heart and she started
applying for two or three a week and by the time she graduated she came to me and she told me she
had enough um that she was not going to have to borrow any money for for school which is amazing
so she got 50 or 100 000 dollars worth of scholarships i don't know how much she got
but she told me she had enough that she wouldn't be borrowing any money she's got enough scholarships
to cover cover everything.
That's very cool.
That's very cool.
I'll tag team with you on that, brother.
Well done.
Well done.
Good stuff.
Yeah, and Dr. John, Dr. John,
that's one of my favorite videos, too, in the curriculum
is when you explain how you made some of your choices going to college.
So that's certainly one of the fun parts
of the curriculum. Well, I appreciate that. Thanks, man. It's an honor to circle back and
be a part of this thing. And as a guy who worked at universities for 20 years, I saw students come
in and make some tragic financial decisions and just, and they didn't know. And moms and dads,
they didn't know. They didn't know there was another way to do this and so I appreciate you being a part of changing how the next generation
thinks about money. So when the kids come into class they're in a personal finance class they're
freshman sophomore junior in high school what's the most common question you get from them?
Well there's a part of the the curriculum that talks about you know paying cash for for a car
and there's an activity that we do that's in the curriculum that kind of takes you through the
steps of of buying that first car and and how to go about it and pay cash and and kind of build up
to a car that you want and the first part of the activity is, you know,
you're starting off buying kind of a clunker for $2,500.
And they always ask me, I think every class has asked me, like,
well, you say you've been through these steps.
Why do you drive a 14-year-old car?
So that's a question I get a lot.
But they really love the activity about
about the used car and i love they have lots of questions about that yeah car is a big deal when
you're 16 for sure represents freedom i love it that's right very cool travis thank you thank you
so much for teaching this class travis is a teacher in aiken south carolina at aiken high school and
one of the heroes out there that's teaching this foundations and personal finance class
and the other heroes, the local financial guy there that's been funding and sponsoring
the curriculum so everybody could go through.
And now, of course, as he said, South Carolina has adopted this and made it a requirement.
And so we're signing up schools in South Carolina or one of the approved options for
schools to meet this requirement. And we're signing up schools in South Carolina. We're one of the approved options for schools to meet this requirement,
and we're signing up schools left and right.
So if you're in South Carolina, tell your school they should use ours.
Well, they should.
It's the best one, right?
So why would you use anything else except the Bentley?
Don't drive the $1,400 car.
Drive the Bentley.
I mean, school's paying for it, so get the best.
This is the good stuff. So cool. hundred dollar car drive the bentley and i mean school's paying for it so get the best this is
the good stuff so cool hey and by the way we're also celebrating by doing a big teacher giveaway
any teacher that's out there listening be sure and enter the ramsey teacher appreciation giveaway
sponsored by ramsey education one teacher is going to win a five thousand dollar vacation and two
more teachers will each win a $3,000 vacation.
Go to RamseySolutions.com slash teacher to enter.
There is no purchase necessary.
You don't have to be teaching personal finance to do this.
That's not the point.
We just want to honor teachers and teachers work their tail off.
And the ones that need a vacation, they need a vacation.
Yeah.
And Dave, while we were on that call call i thought of the irony of all of this
this is now a mandate going across the country where governments are mandating these kids need
to learn about money and i thought dave you should make a education product for congress
all of them looking at these kids being like y'all should learn how to spend and
save money be like yeah and so should you pot meet my friend kettle exactly
that would be fantastic
oh that is an irony it would not sell well though uh well, but people would buy it and donate it to the Congress.
I promise you.
If I just started getting up a little, what do they call it, GoFundMe?
An FPU Congress edition. A GoFundMe for just sending all of them Total Money Makeover books.
I would get so much money in in the first 20 minutes.
The video would be a five-minute video of just your face just shaking your head.
No. No. I said no just shaking your head. No.
I said no. No. Stop.
No. Just say no. No is a complete sentence.
No. Quit. Stop it.
These high school kids are off to a better start than some of our
leaders. Oh, definitely. Maybe they'll
be our leaders. Ah, there we go.
Yes. Yes. I can say
yes to that. This is The Ramsey Show.
Dr. John Deloney, Ramsey personality, is my co-host today.
Thank you for joining us, America.
Open phones at 888-825-5225.
Jeremy is with us in West Palm Beach, Florida.
Hi, Jeremy, how are you?
I'm very good, Mr. Ramsey, and thank you for taking my call.
Sure.
What's up?
So I told my best friend recently that I wouldn't be able to be his best man in his wedding because the wedding is in Brooklyn, New York, and it's not in my wife's and I's budget.
Okay.
Okay.
Why can't you get in the car and drive up there?
Well, I don't know.
We got Ramsey, or we have Ramsey, or I don't know.
But I trust them.
We're in baby step three right now.
And also, um, we have three children under the age of 10, uh, two, four and nine.
So leave your wife and the kids at home and go to the wedding.
Well, drive up there.
I know it doesn't cost anything.
Yeah, that's a far drive.
I'm a floor. I stay in my little area.
You know how you don't like to travel far for work?
I don't like to travel far from my home.
Okay.
But I don't know if I'm just looking up, like, finding excuses or, you know.
Yeah, it's not really your best friend.
Oh, well, I mean.
He's a friend, but he's not your best friend.
Because your best friend, you would already have driven up there
yeah you would do anything for your best friend right i know but like i said i mean you don't
have to spend ten thousand dollars to do this it's not an expensive thing you're not really
hardly spending any money to do it it's just inconvenience that you don't want when is this
wedding it's uh july the middle
july this year so why couldn't you take a couple of shifts or work or figure mow some lawns or do
something to get some gas money i guess i'm with dave i am doing that now okay i am working over
time but you know we're trying to you know pay fill up hey jeremy your wife doesn't like this guy oh she does he was our
best my best man but i mean in my wedding five years ago she doesn't like this guy
oh i don't i don't say that but okay so then what's really going on because you know this is
this is not a money issue.
It doesn't take any money to be in this wedding.
He didn't ask you to fly to Spain.
No, no, no.
But it's just out of my realm of just my little hometown, you know.
So I just don't really feel like leaving my kids.
Okay, say that.
That's it.
That's the truth.
That's the truth.
It's not my budget not not not budget it's say hey dude i don't i don't love you enough i don't want to
be a part of this enough to leave my town yeah that's the truth brooklyn scares the hell out of
me i'm staying in palm beach yeah i'm not going and maybe he's your best friend but you're not
like yeah i can't even wrap my head around that sentiment like if my buddy's called i'd walk off
air right now if i had to like that's just that's what you do but
that's not your relationship with this guy and that's okay and now if he was asking you to spend
10 grand and you're in the middle of getting out of debt and you we've had we've had that call
over the years you know my you know my wants me to be a bridesmaid and it's a twenty thousand
dollar thing with a ticket and we have to do the brides we have to go to three towns for different
bridesmaids things and then we're going to fly to Mexico and and I don't have and I don't have
the money to do all that and they're mad at me well that's tough I mean I agree don't do that
one okay but this is just getting a car and drive to Brooklyn man I mean it's not it's not like a
lot of money and it's it's a long drive and it's annoying and by the way when you have a good
friend there's a lot of times you end up helping out i don't want to help friends move but you do it i don't want
to help friends whatever but you do it i don't i'll hire a mover same you're not talking about
uh but i i mean and you can't use my pickup yeah
yeah you can't no one even asks dave no no that no good i'm glad don't ask but yeah i mean so i i you do
whatever you want to do dude but i i'm i think we did boil it down to this is not about a budget
you don't want to go it's about you don't want to go that's why that's why i was blaming your
wife because i thought you don't want to go but it is you after all i was wrong it's not your wife
it's you you you don't want to go and it's not that it's not your budget and it's not that you have to take
care of the kids these are that's all mythology you just don't want to go and you know that's
cool you can make that decision okay um and and you're fine i'm fine with that if you don't want
to go just tell them i don't want to go i don't i can't don't blame the budget don't blame ramsay
don't blame us for that oh god please don't blame ramsay don't blame us for that oh god please
don't blame ramsay we get blamed for everything else james is in augusta georgia hi james how are
you hey i uh i also am better than i deserve dave and i appreciate you uh taking the call for me
our pleasure how can we help sir well i'll boil it down dave um i'm a follower i'm at baby step
six but i got a couple of Baby Step 2
NICs I need to take care of. I have two mortgages. One is a rental and one is a primary. And I'd
like your advice on which of those to pay off first. If you'd like the numbers, I'd be glad
to give them to you. What is in Baby Step 2? No, that's Baby Step 2, right? Those are mortgages
or Baby Step 6? Right. Well well one is an optional um uh spending because
it's not my primary oh i got you but no rental property goes in six two so but you say you don't
really you don't have any consumer debt left right correct okay cool how much you own the rental
uh i own 96 i'm sorry 95 95 How much do you owe on your present residence?
My present residence is 196, so that's a 195 payoff.
You got any cash to throw at either one of these numbers?
I do.
I do.
I've probably got about, I want to say 30.
I maybe could even pump that to about 50.
And still have your emergency fund in place?
And still have my emergency fund, yeah.
And your household income is what?
We're tilting right at about $97,000, you know, pushing that to $100,000.
Boy, you've done a really good job, James.
Way to go.
Way to go, man.
Excellent.
Yeah, it's taken a while.
But I just don't like having that mortgage i'm i'm a
believer in what you do and what you recommend so i know one of those debts has got to go sooner
than later yeah my thought was one is a near goal and the others may be a far goal so what do you
think yeah i if they were close to equal i always pay off the house first my residence first and that's just risk management
meaning if everything goes sideways and i have to lose something that's not the one i want to lose
i want to lose the rental okay so i would always pay off my home first but this rental is a half
of less than half of your house and so and with throwing 50 at it you probably knock it out another
year and then that would leave a lot of cash freed up,
additional income freed up then to throw all of it at the mortgage and be done.
So it's okay to do it either way.
You're still going to end up, and it's going to take you exactly the same number of months to be debt-free regardless of which one you pay off.
No, it's not.
Pay off the rental first.
It'll probably get you out of debt faster because the rental income is freed up. Yes. Now, I do like that approach because it is a
moneymaker. And I will just let you know that I do have a second rental, and that is a fully paid
for 1031 exchange that I managed to do a couple of years ago. So I've got good passive income from both of them. I'm at about $3,500 a month.
And what I want to do is just rack and stack all that good passive income
onto that rental mortgage and blow that baby out of the water in less than two years.
Two years is my goal.
Yeah, I think you're probably going to throw $50 at it.
It's probably one year.
Right, but I've got to convince the wife of that.
Well, you've got an emergency fund beyond the $50, right? I do, yes, sir. So why do've got to convince the wife of that. Well, you've got an emergency fund
beyond the $50,000, right? I do, yes, sir. So why do we have to convince the wife? What's the wife's
problem with $50,000 in the bank or $50,000 extra? Well, we might want to not go down that rabbit
hole, David. I apologize. I'm trying to keep it short for you, but she just has a different,
she has kind of a different approach from a different portion of the of the world where she comes from and her priorities um are like east
and west if that makes sense to you sure sure yeah yeah now you explain why she's wrong okay
oh well whatever talk it talk it through and figure it out but i'm gonna throw 50 at the rental
and stack and pack on the rental
and then stack and pack on the house.
And you're probably going to be out of debt a slight bit faster going that direction
than the other direction.
But there's not a wrong answer because either way, in about five or six years,
you're going to be 100% debt-free with all three, all the two rentals in your home.
It's going to put you in a really sweet position.
Hey, thanks for the call.
Our scripture of the day, Philippians 2, 3 and 4.
Do nothing out of selfish ambition or vain conceit.
Rather, in humility, value others above yourselves,
not looking to your own interest, but each of you to the interests of others.
Thomas Sowell says, when you want to help people, you tell them the truth.
When you want to help yourself, you tell them what they want to hear.
Whoa.
Whoa.
Ouch.
That could happen around here.
We do love people, and yet sometimes we are a bit brutal in our truth-telling because we want to be real sure you hear it for your sake.
It doesn't change our lives.
It changes yours, and that's what we're here for.
All right, Dom is with us in Philadelphia.
Hi, Dom.
Welcome to The Ramsey Show.
Hello, Mr. Ramsey.
Thank you for taking the time to have me on.
Sure.
I'm three years unemployed.
I've been taking care of my mother.
There's about 400 grand left to pay on the mortgage for the house I lived in my whole life.
I made a promise to her that I would never put her in a nursing home.
And I've just been struggling to find the right care in home and just how to keep the house.
My question to you, Mr. Ramsey, is if you were in my position,
what's the first thing that you would do?
Wow.
So you're how old?
23.
You're 23.
And you've been taking care of your mom for three years since you were 20.
What's wrong with her?
She's got Parkinson's.
I'm sorry.
So it's progressing, I assume.
Yeah, it's gotten worse.
I mean, at the beginning, obviously, I've been through multiple companies,
multiple in-home health aides.
I was working out of high school, a little family shop for automotive,
and it was fine back then, but it was progressing,
and I saw that gradually she didn't really know what was going on.
So how's she doing right this second?
Well, now it's just me.
It's been me for a while, and if you want something done right,
do it yourself.
No, that's what I want to ask.
I said how is she doing?
What's her condition?
Yeah, she's good.
She's good right now.
No, no, she's not good.
Degrading.
Yeah.
I mean, what kind of condition is she in today?
She's at home.
She doesn't leave the house ever.
It's just me feeding her with her every day.
And, you know, it's hard to move her with her every day and and you know she
it's hard to move it's it's on and off the disease um yeah how um how are the bills being paid
so uh she was an anesthesiologist and um she has the she took a lump sum of the retirement money,
and that comes out of an IRA that she put it into,
and that's what's paying the mortgage and everything else.
And then there's Social Security that comes in every year,
I think to the tune of 20-something, 25.
Yeah.
So, Dom, you sound completely drained and exhausted.
Uh-huh.
Like you're on your last thread.
Like you're just down.
Your tank's empty is what it sounds like.
Am I wrong?
Yeah.
I thought taking on all this stuff, the house and the paperwork and everything,
would be easier with the support of the other half of my family,
but they don't really want to get involved.
What's the other half of your family?
My dad's side, the grandparents.
Oh, and your dad's gone.
Yeah, I mean, they divorced.
Yeah, that's what I mean. Okay yeah so you're you're the only child i have a brother but he's in college and how much is in this ira that's uh
deteriorating along with this whole situation about 500 okay all right About 500. Okay. All right.
Dom, I think you made a promise as a 19-year-old
that you weren't wise enough to make at the time.
And just listening to you,
it sounds like you've exceeded your capacity to help.
And the most gracious, honorable thing you could do for your mom
is to get her into a place where they can take care of her.
Or hire someone.
I just know how it is in this place.
No, it's not.
They're not all hell.
Some of them do a great job.
Or just hire somebody to come in with her money and take care of her.
You go get a life.
I don't think you can keep going much longer i'm not talking to
a guy who has much left gas gas left in his tank yeah it's crazy because you know i i went over
most of the paperwork for some of these companies that came in for in-home health aids you know
these people that they hire to do this work get paid less than somebody flipping a burger at
mcdonald's So hire one directly.
Find somebody who's a nurse and hire them.
You have $500,000.
Right.
Okay. And can I ask you a difficult question?
Can I ask you something that's painful?
Yeah.
How much longer do you think she has i try and keep her spirits up you know that wasn't what i was talking negative
i don't know maybe this is not negative it's facts maybe five five years yeah yeah so you're gonna be 28 and it sounds like this i don't think so she's 74 i don't think so
i don't think that this mom wanted this for her son for when he's 28 years old to have done this
for eight years i think you use her money to hire someone to come into her house and take care of
her and you get back up on your feet and create a
little distance uh physically and emotionally from this situation so you'll have a much better head
to help her with her care than you do right now you are out of gas young man and you need some
help she's also in debt to the irs How much? $300,000. $300,000?
More like $250,000.
Well, they can't get
the IRA.
Yeah.
So just spend the money out of the IRA to take care of her.
What's the house worth?
So last time it was appraised,
it was around $750, around 750 which is like a year
and a half ago that's when they'll get their money is when that house sells until then they're not
getting anything i want to keep it though i i want to try and at least keep why i mean i've
lived here my whole life you don't need that house no no that house needs to go away bro you're trying to do so much
and it's noble but you got two guys who've i mean we're telling you can't lift the weight on the bar
and we're watching it crush you yeah we're your spotters man don't don't push again okay it's uh
you know we want you to win we want your mom to be taken care of. We don't hate
her. We're not angry with her or you, you're a noble, very cool, neat young man. That's trying
to do the best he can, but man, the number of sighs that have come out of your mouth,
the depth of the angst that is in your voice is amazing. You don't even hear it, but we get as
clear as a bell on this end. And, um, man And, man, I think the best gift you can give her is for you to get in a better place.
Absolutely.
I appreciate that.
Yeah.
You have got to go get a life.
It's time now.
And you don't have to abandon her to do that.
You can still make sure she's taken care of, whether that is in a facility or whether it's
you just go down to the hospital and say, hey, who's a nurse that works part-time that
wants some full-time work?
I'm going to hire one right now.
And you can hire them as cheap as you can pay a nursing home and bring them in and manage
that.
And then you step back, get you a job, get you some space emotionally, financially.
I've been unemployed for three years is how you led the call.
The lack of dignity in your voice when you said that,
even though you're doing something that's very noble and dignified.
So you really need to do this for you, and the healthier you are,
the stronger position you're going to be in to care for her
through these last stages of this disease. I'm so sorry you're facing this. So here's what we're
going to do. I'm going to put you on hold and Christian's going to pick up. We're going to set
you up with one of our financial coaches at our cost. We're going to pay for it to come alongside
you and walk with you because you're a by yourself doing this. There's no one speaking into your life and you need to get in a good church and have a good pastor with you.
You get some people around you that are encouraging you lift up your arms while you're tired like this, brother.
Don't stay on this track, man.
It's not a good track.
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. you