The Ramsey Show - App - Providing A Happier Workplace for Your Employees (Hour 1)

Episode Date: June 28, 2018

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Live from the headquarters of Ramsey Solutions, it's the Dave 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 am Dave Ramsey, your host. This is Common Sense for your dollars and cents. Common Sense is so rare in America today that it's now like having a superpower. So we're glad you got some and you tuned in to us. Thanks for hanging out.

We'll add to your tools in your belt so that you can go have a better life living like no one else. So later you can live and give like no one else. Open phones at 888-825-5225. That's 888-825-5225 that's 888-825-5225 doug is with us to start this hour in chattanooga hi doug how are you doing well sir how about yourself i'm better than i deserve man how can i help excellent listen i was going back through recently my old FPU DVDs back when it was a 13-week series. And at the time, you were telling people to only buy fixed annuities, never buy variable. No, you got confused.

No, no, no, no, no. Stop, stop, stop. Whoa, whoa, whoa, whoa, stop. I have never, ever in the history of my freaking life told people to buy fixed annuities. You misread that. I must have misheard the DVD then, but it seemed like a couple of times you said that. No, absolutely not. No, never have I said buy a fixed annuity, ever.

Well, that clarifies that problem, then. Okay, good. Do you mind if I ask you one more question? None at all. This is about a 401K. I've heard you talk about a backdoor Roth where you put money into, not a 401K, sorry, an IRA, where you put money into an after-tax IRA and then roll it. Money put into an after-tax IRA, that money that you put in, you can take out tax-free,

but the growth is still taxed. Is that correct? The money that is in the after-tax IRA going in has already had taxes on it, and as it grows, it is not taxed until you take it out, and then it is taxed. Then why do you need to roll it to a Roth then if it's not taxed until you take it out? If it's not taxed until you take it out versus taxed at all. I got it. That's right.

Okay. That's all I needed to know. I guess I'm pretty brain dead today. No, it's okay. That's what we're here for, man. That's good questions. Good clarification. How old are you?

54. Cool. So you're really focusing in, getting real serious on your investing, right? I am trying to. Good. Have you got a copy of Chris Hogan's retire-inspired book? I do not. Let me give you a copy, brother, okay?

Excellent. Thank you. Yeah. Hold on. I'll have Kelly pick up, and we'll send you a copy. Good questions. All right. I have no idea what this name is, Kelly.

What is this guy's name? This person's name? Zubair. Zub name? Zubair. Zubair. Zubair. Okay. That is correct. Thank you.

I'm sorry. I just didn't want to destroy your name because I'm sure people mess you up all the time, and I didn't want to be that guy. Oh, no, I appreciate it. The correct is Zubair. That is correct. Perfect. How can I help, sir?

Well, thank you for taking my call. I have a question about a car lease. So I discovered you about six months ago on your podcast, and right before I did, I got a car lease. My total debt right now is $400,000. It's all student loan. I'm a physician. And the reason why I got the car was I was driving a lot from work. I got married last year, and my commute went from 5 miles to 70 miles, and I was spending a lot on gas.

So I was spending about $600 on gas, and now with this hybrid car that I got on the lease, I'm spending about $250 per month on gas. So I have 33 months left on the lease. My payout right now, if I wanted to purchase the car, is $27,000. If I wanted to pay for the lease in total, it's $13,000. So I'm not really sure what you would do in this situation, which is why I'm calling. Please tell me you have a huge income. I do. So I've been practicing for two years and our household income is about um

350 000 thank you jesus okay good wow because you got a mess on your hands so how fast do you plan to be debt free my calculations right now so um in the past year i've already paid off 100 000 we started at 500 and uh my payoff time is going to in years. Good for you. I like your plan. Okay, that's cool. And so in the future, when we're doing a calculation on a car, there's two things we want to keep in mind that are separate from your question. Okay? Number one is if you have a 70-mile commute,

whatever you are driving when you add up the miles you put on it in a year, you are destroying its value. That is true. And so what we want to do mathematically is we want to destroy the least amount of money. And that means that we would buy the least car that will get the job done. Now we've got to define what get the job done is. If I make $350,000 a year, get the job done means different than if i make 35 000 a year you want to ride in something decent okay you can afford to destroy a little more expensive vehicle is my point just because you're in it all day long and so i'm going to enjoy the

vehicle to a degree but probably wanted to destroy something that's not 50 grand instead let's destroy something that's 30 or less. Agreed? Agreed. Okay. And it's value. But I want it to be reliable. In your case, gas mileage is very important. Agreed on that.

You made a good decision on that part of your thinking. That was very wise, looking at all of that. Your savings there is dramatic. And so gas mileage, reliability, and comfort, comfort creature comforts because you spend a lot of time in the car and by the way you make three and fifty thousand dollars so you can afford to have a decent vehicle but let's not drive a you know let's not drive 130 000 maserati and destroy it okay even though you could technically afford that car but let's not run that thing 70 miles a day each way that would be silly you follow me absolutely yeah and

hopefully the driving is short term because my wife is finishing her training in one year which is why we're stuck in the commute okay then that'll change your equation too okay so are you running your miles up way over on the lease or you're going to be like way over when you turn it in so the first year i'm going to be over but the it's $45,000 in total, and I don't plan on going over that over the course of three years. Okay. All right. But you're over schedule now. Correct.

Yeah. All right. It's probably going to work out, without me doing the math in detail, it's probably going to work out about a break even to drive it on out through the lease. Okay. Versus getting rid of it. Now, you're going to take a hit it's just a matter of how are you going to take the hit monthly between now and the balance of

the lease or are you going to take the hit when you sell it today and have to go buy something else that has good gas mileage and reliability so i probably would run it on out uh through the end of the lease in your case uh with the numbers you're giving me um because you know if we add up the total your 13,000 is remaining on the lease but we also look at how much upside down you are today already you're almost driving this car you're paying a little bit between now and the balance to drive it but you're but with the hit you would take versus 13,000 you might as well pay the 13,000000 is what I'm saying. Yeah. Is that logical to you?

Yeah, absolutely. So next time, though, the number one key that we find of people who are millionaires all the way up to decamillionaires is until they have a million-dollar net worth, they drive a used car. It can be slightly used. And they pay cash for their cars. That's what we find among people who build wealth. Now, a lot of doctors make a lot of money and don't have any money.

They're notoriously known for sucking at how they handle money. You're making some really good decisions, so I don't think you're on that path. But the adjustment I would make long-term is whatever you do in the future, you pay cash for it. You make enough money. Whatever you do in the future, you pay cash for it. You make enough money. Whatever you do in the future, you pay cash for it. And that is your shortest path to wealth. For years, I refused to endorse any company that claimed to get people out of timeshares. I told my listeners it's a horrible product and that, unfortunately, they didn't have a lot of options.

Then a few years ago, I sat down with Brandon Reed, the owner of Timeshare Exit Team. Brandon walked me through the timeshare industry, and I learned that you can't sell them, and you can't even give them away. And then we talked about Timeshare Exit Team's process. Every ownership situation is different, which is why they have more solutions than any

other company. And that's when they earned my respect. Don't call any of the imposters out there, and there's a lot. The only timeshare exit company I stand behind is Timeshare Exit Team. They have exited thousands from their timeshare burden this year alone. Yes, you will write them a check, but they stand behind their guarantee. They will get you out or they'll give you a full refund. Call 844-999-EXIT. Online at timeshareexitteam.com. James is with us in Chicago. Welcome to the Dave Ramsey Show.

James, how are you? I'm well, sir. Thank you for taking my call. Sure. What's up? I have a question about rolling over a 401k, or more specifically mutual funds. I had an old 401k that i'm looking to roll over and i met with a smart investor pro of yours and we you know sat through the interview or whatever

and they mentioned that they had 26 mutual funds in their company and then i've heard you mention that you pay your smart investor pro because there's hundreds of mutual funds to comb through. And I was just kind of wondering if, you know, the varying sizes of companies, does that change or is there something else I should be looking for? No, there are branded mutual funds. A SmartVestor Pro is someone that sells mutual funds. They can sell any one of about 8,000 mutual funds if they choose to, okay, unless their company keeps them from doing that. And I don't think they would be one of our SmartVestor pros.

But then a given brand, a given company might have branded funds within their company, and they probably do have 26. Who does he work for? What's the company name? The one that I did meet with, Thrivent? Yeah, Thrivent has their own brand of funds. Okay. And so they have Thrivent mutual funds, but they also sell American funds,

or they also sell whatever. I don't know. Name another brand. I mean, there's other brands of funds that they could sell into easily. If he's only going to direct you to his company funds, then I need to know who he is so I can fire him because I don't want him only doing that because Thrivent might have some good funds

and they might have some bad funds within a given, you know, they might have a good growth fund, but their aggressive growth might not be good, as an example. And that would be true of almost every fund company, okay? I mean,bell's makes a lot of different soup but but their vegetable soup might be better than their chicken noodle you know that kind of thing and so that's what you're looking at here so you're looking at the actual individual fund not that and if they're only selling that fund name then are their own

brands um then then we don't want them. So I'm going to put you on hold. Kelly's going to pick up, and we're going to verify with that SmartVestor Pro because we want to talk to them and make sure that they're properly taking care of you guys. And so hold on. I need that guy's name. I don't think he's doing anything wrong.

I think you just misunderstood, but I want to double-check with him and be sure. So, hey, thanks for the call, man. Open phones at 888-825-5225. Ryan is in Detroit, Michigan. Hey, Ryan, how are you? Doing well. How are you? Better than I deserve. What's up? Hey, so I have a question for you.

Me and my wife went through your program, and we paid off all of our debt, with the exception of our vehicles. So I was wondering if, given our situation now, if we should stop our contributions to our IRAs and focus solely on the cars, or if you think we should do both to keep paying down on the vehicle and keep the contributions coming in for retirement. You said you went through our program. You mean you went to Financial Peace University?

Yes, sir. How long ago? We did that back in 2013, 2014, I believe. Okay. So this is just your refresher to that course, okay? Because 100% of the time we tell folks until they get to baby step four to stop all investing, you should have already stopped the IRAs back in 2013. Yeah, so we didn't have – our situation kind of changed

because we had to move to Alaska for our jobs, so we had to get reliable vehicles. Yeah, smart in Alaska is smart in Minnesota is smart in Tennessee. Living in Alaska doesn't change what's smart. Okay, I see what you're saying. Yeah, we just needed reliable vehicles for the environment that we were in. Oh, so you went back into debt. So you got off the program and went into debt.

A little, yes. Yeah, okay. All right, so now if you want to get back on the program, here's what you would do. And then you need to decide how many times you're going to get on and off. Okay? Because you're going to do this. It's like somebody loses 30 pounds 14 times. Right.

Are you going to keep it off this time? Or are you going to keep just doing this cycle? That's the thing. So, because every time, because let me just tell you, there's always a freaking excuse to borrow money. There's always something that's glittery that I can turn a want into a need in my head. I am required. I am forced to buy something.

You can always do that in your head. And as long as you do that, you're going to stay in debt. And as long as you stay in debt, you're going to stay broke. So you got to decide that. That's a decision you're going to make. But let's start you fresh again. Here's what you do. Ready, set, go.

You stop all investing. And you're back in baby step two. And you attack these car debts with a vengeance. Or you sell the cars. Whatever you got to do. We're going to work on these car debts like you're not going out to eat. You're not going on vacation. You're on a budget, a written budget, every single month.

Every dollar has a name before the month begins. And you attack these car debts with a vengeance and you get them paid off if you cannot clear both these car debts within two years when you sit down and do your budget fresh again tonight with your spouse that means one of these cars is being sold you got too much car and um don't tell me you can't have a reliable car that without spending x number of dollars that's horse crap there's all kinds of reliable cars out there at all price ranges, everything down to nothing. And so, you know, you're just justifying and rationalizing buying a car, which I can do too because I like cars, but these days I can afford it.

So that's the difference. And that's the position you want to get yourself in. Drive like no one else so later you can drive like no one else. So the answer to your question is yes, stop investing, you're in baby step two, and attack your debts with a vengeance. Once you get through with that, finish up your emergency fund, baby step three at three to six months of expenses, and then baby steps four, five, and six are simultaneous,

and you restart your investing, 15% of your income going into retirement at baby Step 4, 5 is kids' college, and 6 is we pay off the house early. Hey, man, thanks for listening. I appreciate it. Open phones at 888-825-5225. Will is in Nashville. Hi, Will.

How are you? Hey, I'm good, Dave. How are you, sir? Better than I deserve. What's up? Good, man. I just got a quick question about my son. He goes to UTK, and he's not done very well with his grades, I guess, over the last three years.

He's still classified as a sophomore, and we had some money for him for school, and unfortunately, he's out of that money now, and I do not want to co-sign a loan for him. He makes me feel super guilty about it, and I just want to know what my other options are besides him not. Okay, let me get this straight. He's underperforming, but you're supposed to feel guilty. Well, yes. Well, that's a conversation that might go differently on my deck well i'd like to hear what you have to say yeah i mean i mean i'll listen to you all the time i

know what you're gonna say yeah i'm gonna i mean i love this kid and i'm gonna knock a knot on his head that's what i'm gonna do so um here's this here's the deal university of tennessee if you live in tennessee is not that expensive. Get a job. Get six of them. Walk dogs. Yeah. Babysit babies. Mow grass.

Deliver stuff with your little car. And work. Because what he's doing right now is drinking beer and not going to class. Because if you go to class, you can graduate. Right. I mean, if you've got a decent level of IQ, you go to class, you can graduate. Right. If you got decent level of IQ you go to class you can graduate.

Now you might not get a degree in chemistry I got a degree in finance but all I did was go to class and I graduated in four years and I worked 40 to 60 hours a week while I was in school. Did you work when you were in school Will? I did. Does Junior Birdman work?

Not really. No, Will? I did. Does Junior Birdman work? Not really. No, didn't think so. I don't look for a job. Yeah. So he's about to work. Summer's here. Ha! Summer's here.

I know. I'm going to let him feel guilty while he's working. Like 80 hours a week. Right. I mean, I just don't know what to do about his living quarters. It has to be paid for as well. When? Next fall, right?

Well, yeah. He's home for the summer, right? Well, no, he's living in an apartment because last year he decided he didn't want to live in one of the group apartments. Oh. And how's he going to pay for that? Well, he's been paying for it. We paid for it until the winter semester started. Well, I guess if he wants to stay in that apartment, he's going to have to get like seven jobs.

I know. That's what you would do. That's what I would do. I think he can do it. He's just got to decide that it's up to him instead of up to you. You're not a walking ATM. And he's not been performing in the classroom, which makes this doubly hard. So I will roll up our sleeves

at home with our budget, and I'll try to pitch in some cash out of our budget and help you get through this, son. But you're about to go to work, Bubba. That's how the conversation would sound on my deck. Folks, the real estate market is on fire all over the country. If you're looking to buy a home and you need a mortgage, don't sell yourself short by going and getting a typical pre-approval. That's a false sense of security, and it's just not good enough in today's fast-moving market.

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Call 888-LOAN-200 or visit churchillmortgage.com. This is a paid advertisement. NMLS ID 1591. Equal Housing Lender 761 Old Hickory Boulevard, Brentwood, Tennessee 37027. This is a paid advertisement. Our question of the day comes from Blinds.com. You can find out why for yourself that Blinds.com is the number one online retailer of custom window coverings. This is a cool story. So Jay starts this whole thing in his garage a few years ago it becomes a multi-million dollar business selling window blinds on the internet the guy is a world-class entrepreneur love this

company they take great care of you you can't beat their prices check them out blinds.com all kinds of deals there always hit the blinds.com slash ramsey or Ramsey promo code to get the deal, right? Yeah. Today's question is from Colin in Texas. I'm looking to open a checking and savings account with an online bank. I've been looking at Discover and American Express. I want to know what you thought of those banks. Or is there a different online bank you recommend? Thank you.

Well, I don't do business with anything that has American Express on the front of it because they once asked my wife why she would stay with a man that wouldn't pay his bills, and she called me crying and said she was thinking the same thing. So I'm done with them. That's what happens when a hillbilly gets mad. That was 37 years ago. I'm still pissed, okay? So I don't do any business with American Excess under any circumstances.

And I really don't like doing business with Visa, but I have a Visa debit card through my bank. Discover pretty much has one goal in life, and that's debt. So I'm not sure why I would use them as my bank. So overall, both of them sound like credit card companies to me, not banks. And my tendency would be to stay away from them for those reasons. Now, would I use an online bank exclusively? There's nothing wrong with that. If you check out their background and so forth, I am a little bit more old school, and I use what you would call a click and mortar bank, a bank that is a traditional bank but has tremendous online capabilities. And so I've got both.

However, I've not been inside of a bank in probably years because of two reasons. One is I don't have any need to go in. I'm spoiled rotten. I have an accounting team here that does all of two reasons. One is I don't have any need to go in. I'm spoiled rotten. I have an accounting team here that does all of my transactions. I don't go to banks. I don't need to. So I'm just spoiled. That's what that means.

I don't even go over there to deposit my own stuff. Other people do that, right? So that kind of thing. So I'm a little bit of a weirdo in that sense. So I don't need an actual physical location. Most of us do transactions now. Ninety-something percent of our transactions are online. So there's nothing wrong with an online bank.

I haven't chosen that route personally, so I don't have a recommendation for you. The other thing I look for in a bank is I actually want human beings around, even if it's online, that I can have somewhat of a connectivity to. That's why I don't recommend you do business with the super huge banks, the Wells Fargo's, the Bank of America's, where you're pretty much a number, and they couldn't give a rip less if you're there, especially unless you're borrowing money. And so I use community banks and credit unions. Those are the two things I endorse in a lot of communities around America.

When you turn on the Dave Ramsey Show, you'll hear my voice, which we don't put my voice on stuff I don't believe in and our team hasn't checked out in detail. And so a lot of community banks, a lot of credit unions have my voice on it. And a lot of those have very high-end online experiences. And so, again, you get a click and mortar. You get the benefit of a location where you can walk in and you know Sally or George the teller, and you get to know them over the years, like in the old days. If you're regularly making a physical deposit or withdrawal or something, you can do that.

You actually know the branch manager, like in the old days. And they actually, in the smaller banks, actually have more power. A Bank of America branch manager has less power than the teller in terms of waiving NSF fees or taking care of a problem or something, moving some money. They can't even approve a car loan i mean at the local level they're just all the decision making is decentralized and so in the old days a banker was a pillar in the community and they had a lot of power to make decisions now a banker is a joke in these large banks uh they they are they

truly they have nothing it's like an entry-level position. It's a horrible position, honestly. If you're a branch manager for Bank of America, I'm sorry for you. Really, it's pitiful. And so, of course, I obviously don't like Bank of America. I don't know why anybody does business there. Wells Fargo, they just make up accounts and put them on. I mean, well, they fired thousands and thousands of people for fraud you know so yeah just that's that's my thing so online banking's okay i don't personally

do it so i can't really tell you to go do it because i'm not hypocritical um i love the small the regional bank and credit union and that's where i would send you la Laurie is in Elkhart, Indiana. Hey, Laurie, how are you? I'm good. Thank you for taking my call today. Sure, what's up? I want to know if I should stop contributing to my 401K to put extra money towards my house payment. No. Okay.

How old are you? I am 38. Okay. How much do you owe on your home? $74,000. Cool. What much do you owe on your home? $74,000. Cool. What do you make of your household income? About $90,000.

Okay. And how much do you have saved in your retirement accounts now? Retirement accounts are close to $130,000. Good. Okay. So we're telling you to put 15% of your household income into retirement at baby step four. In your case, that's about $10,000 a year. Does that sound right? Yes.

Okay. And you wanted to put that $10,000 instead towards the house to pay it off faster. Right. Okay. And if we don't do that, how much extra are you going to be paying on the house um we're paying 209 dollars in interest each month on the house that one would ask i said how much extra are you paying on the house oh i'm sorry i do apologize um we we were doing a hundred extra up until about a year ago um we ran into some financial issues with our house we had

to waterproof it which cost us almost our whole emergency fund um have you got that rebuilt yes we have we've gotten it back up to about 13 000 okay here's what i would do all right the typical person working our system putting 15 of their income away for retirement, living on a written budget, addressing kids' college at whatever level you need to, if you need to, and maybe step five. Any other money we find, a bonus, an inheritance, a sale of an item, or money we squeeze out of the budget, we throw at the house. The typical person is paying off their home in about seven years doing that the numbers you're giving me are more like nine years if we take the ten thousand and throw it at the house it reduces the nine to five okay so the only thing we're having a discussion about is about four years

you're going to pay off your house short of 10 years if you do what i'm teaching you in your with the numbers you gave me okay and then the only question is are you going to pay it off in nine or in five by abandoning for five years your retirement savings at 38 years old which i would not do that's going to make you a lot of money and so i'm going to put i'm going to stick right with those baby steps exactly you're you're right in the case study range of the stuff we use to develop the baby steps you're sitting there the age group the income everything and um you're sitting right there and when you run these numbers out two or three different ways that's what you're going to find so i love that you want to get your house paid off and here here's my suspicion. Your income is going to go up during the next five years.

Most people do. Most people's income goes up over time. If you go five years and don't get any income raise at all, something's wrong. Right? I mean, most people at least get a cost of living bump. Right? So you should get some kind of increase in your income. And hopefully you're growing in your career, you're moving in your career,

or careers, and you're moving up that way. And so over that five years, we're not dealing with a straight-line income. We're dealing with an increased income. Don't increase your lifestyle as your income increases. Throw the difference at the house, and that's how I get to your seven or nine years on your house instead of five and i'm going to continue to invest in your 401ks this is the data that takes you to millionaire status those are the data points right there paying off the house and investing

steadily in the 401k this is the dave ramsey show Over the years, I've seen so many families suffer by not having life insurance. It's not that they didn't care. It's just that they didn't know. So they did nothing. That's a huge mistake. Listen, husbands and wives, moms and dads, think about it. If you died, how would your family pay the bills, the mortgage, the food? This is what life insurance is all about, and term life is the only way to go.

It's not expensive, and it's not complicated. Stop wasting money on cash value plans. You need 10 to 12 times your income in protection, and I recommend 15 or 20-year plans. I also only recommend Zander Insurance and have for almost 20 years. These are the people I use, and they only offer the plans I recommend. Call 800-356-1780 or visit zander.com and compare online. It's just the smarter, more affordable way to buy insurance. That's 800-356-1780 or zander.com.

A couple of important things going on around here. Number one, we're having a flash, summer flash sale. Right now, in the online store at DaveRamsey.com, you can save up to 72% on some special limited time deals. This means way deep cuts.com, you can save up to 72% on some special limited-time deals. This means way deep cuts. Yeah, hurry. These summer deals end on Saturday. We have seven summer deals on sale plus one bonus deal. Our number one best-selling bundle, the Starter Special, is on sale.

You've never seen it this cheap. 72% off. The Kids Adventure Pack, everything. Check it all out at deals right now. DaveRamsey.com or call 888-22-PEACE the second thing is our entree leadership summit our world-class best-in-class event for leadership for next year is shaping up to be absolutely incredible of, our team, Christy Wright, me, Chris Hogan will be speaking. Many other top-line speakers will be with us.

Of course, Pat Lencioni will be with us. Marcus Buckingham that wrote the book Strength Finders, absolutely incredible speaker, will be with us. Henry Cloud, Book Boundaries will be with us. Peyton Manning will be there to speak and teach on leadership as well. And he's got some good stuff to say about that. I've been on stage around him a couple times. Simon Sinek is going to be back with us.

The problem is it's in May of next year. It's April the 28th through May the 1st in San Diego. And it sold out today. They sent me an email a few minutes ago and it's already sold out uh the tickets that are not sold out are the platinum and preferred tickets uh the platinum you're backstage uh with a vip picture and a lunch with peyton and me and so on and uh so those are and you're of course sitting on the front row in this event with almost 3 000 people in it so it's uh the platinums are pretty incredible tickets the preferreds are, and you're, of course, sitting on the front row in this event with almost 3,000 people in it. So the Platinums are pretty incredible tickets.

The Preferreds are as well. They're in Preferred seating, and you get access to some other places, and there's some lounges. And these events are absolutely stellar. They're incredible. So if you want in on that, it's basically gone, but you can still get in Platinum or Preferred, those higher-end tickets. There's a couple of those left, not many of those, and they'll probably be gone within a week or so at the rate we're going. And then we're going to start taking waiting lists on the rest of it in case someone drops

out. So, again, the Entree Leadership Summit, San Diego. Now, the Smart Money events are on sale. They're selling very, very rapidly for the fall. Charlotte, North Carolina, Chris Hogan, Anthony O'Neill, September the 20th, San Francisco, Chris Hogan and me in October. Minneapolis, October 29th, Chris Hogan and me. That one is 93% sold already. If you're in Minneapolis and you want to come in october i would suggest you get your ticket hello okay san antonio texas november 15th uh chris hogan and i that one's 60 sold out

colorado springs chris hogan anthony o'neill tickets there anthony antonio san antonio that's january 17th january 22nd chris hogan and me in San Antonio. Those just went on sale, so there's tickets there. Kansas City Smart Conference in October is 74% sold. There's less than 1,000 tickets left for that already. So, again, these

things are lighting up, guys. So, just telling you, the marriage and money events are all 50% sold out for September, October, November, Orlando, Houston out for September, October, November. Orlando, Houston, Anaheim, Phoenix. That's Rachel Cruz and Les Parrott doing those, of course. Dallas, Texas just went on sale. Smart Conference in January.

Business Boutique is 70% sold out with Christy Wright and the whole team there. That's going to be an incredible lineup this coming November. These are our live events i know it's summer but when i got that email this morning i went gosh we need to be really just telling you guys what's on we don't hype the tickets we just tell you they're there and we want you to come and we want to sell out but uh also don't want you to call me up in october so don't get your ticket if you're gonna to come, because they're going to be gone. And that's not hype.

It's just mathematical fact. Justin is in Asheville, North Carolina. Hi, Justin. How are you? I'm doing well, Dave. God bless you. Thank you for taking my call. Certainly, sir.

How can I help? to help. My mother turned 65 on August 2nd, and she will get her 200, access to her $200,000 in retirement. And she then broke her entire life. And she's had the most atrocious spending habits you could imagine. So her getting access to all this money scares the GBs out of me. I'm trying to get her to understand the importance of paying an expert for their advice, and she doesn't want to. She thinks that she can just listen to my brothers and my sister and her friends, and she can figure it out on her own, and I know that that's not the case. What can I do to get her to do the right thing with this last big financial mistake that she can make and turn it into a financial security and strength for her rather than a mistake?

It's really frustrating to watch people you love do stupid stuff. It really is. And because I love her so much, my income has gone up like twice what it normally is just in the last year because I changed careers. And I've been listening to you for years, and so I have a small head on my shoulders when it comes to finances. But I'm not going to have a part of that. When you talk to her about it, her response is what? I don't need anybody. She seems open-minded like she's listening to me but at

the same time i know that she's also listening to other people she has it in her mind that um she can just do what she wants she is she in your town no she is no she's not she's hundreds of miles away from me okay all right i am going to take time off work so i can get with her i'd like to get her with a smart vest or pro in her area yeah a company heard to her to her meetings yeah but i don't know who those are i haven't made any phone calls to them i need to get on the right track yeah just jump online at smart vest or at davramsey.com you can find out who to get in touch with there that would be smart i was going to say physically take her to financial peace university group you know take her to the lessons the nine different lessons pick her up every night but you can't do

that you're hundreds of miles away here's the problem okay you can't make adults not do stupid stuff stupid's not illegal right and you know it just you and it just you just can't make them and all you can do is persuade that's all you can do as far as whether you uh give someone uh a fee to help you do your investing or you give someone a fee to help you handle your money here's what's interesting she's going to take 200 000 and do diy do it yourself but this woman has never worked on her own car. Right. What's her car worth? Nothing, about maybe $1,000 a month. But she didn't even work on it.

Right. Okay. So she pays an expert to work on a $1,000 item, but won't pay an expert to work on a $200,000 item. Right. Does she pull her own teeth? Not quite. No? She goes to the dentist and the pays an expert to deal with her mouth right right you pay an expert you pay an expert to look at your

eyes if you need like i wear glasses i'm going to the optometrist next week to get my prescription looked at again i'm getting old you know i, you pay an expert that has been trained that knows what the flip they're doing. But money is so interesting, people think they need to DIY that. You pay an expert. You don't sell your own home. That's ludicrous. I can sell my house. Everybody's buying houses. Yeah, everybody's buying houses, but you're going to make a huge mistake. It's going to cost you thousands and thousands of dollars because you're trying to save two nickels in commission from somebody that actually knows what they're doing. Listen, I'm the money guy, and I have a SmartVestor Pro. I'm the money guy, and when I get ready to do estate planning, I don't do my own.

I'm the money guy. I don't do my own i'm the money guy i don't do my own taxes you know i hire an expert i don't want to do that crap also don't work on my own cars hello because you need to have a degree in computer science to work on a car now and so you have to reboot them i don't even know how to do that and you know it's a so that's what you got to talk to her about is just see if you can get her to grasp how important this is that she involve an expert it's two hundred thousand dollars god has entrusted her with is she going to be a good and faithful servant or is she going to continue her pattern throughout her life of misbehavior?

I don't know how blunt you can be with her and get away with it. What is persuasive to her? How are you going to get through? I don't know. But it's good that you love her enough to try. I'm going to give you a low probability, unless she accepts your advice,

that this story is going to turn out well. I'm afraid you're right. It's going to turn out poorly. This is the Dave Ramsey Show. Hey, it's Blake, Chief Production Officer for the show. And here's a little tip for 2018. Go download our revamped Dave Ramsey Show app from the App Store. We're always listening to your feedback and adding new features to make it even better.

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