The Ramsey Show - App - Quit Chasing Your Credit Score...It's Bogus! (Hour 1)

Episode Date: January 19, 2022

Debt, Home Buying, Saving, Retirement, Investing, Career, Education As heard on this episode: Sign Up for a FREE trial of Ramsey+ TODAY: https://bit.ly/3rZTUAx Tools to get you started:  Debt Calculator: https://bit.ly/2Q64HME Insurance Coverage Checkup: https://bit.ly/3sXwUn5 Complete Guide to Budgeting: https://bit.ly/3utmVXi Check out more Ramsey Network podcasts: https://bit.ly/3fHhbVE

Live 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, Dr. John Deloney. Ramsey Personality is my co-host today as we talk about your relationships, your money, your work, and your life. It is a free call at 888-825-5225. Some say the advice is worth exactly what you pay for it. 888-825-5225. Aaron is starting us off in Salt Lake City, Utah. Hi, Aaron. Welcome to the Ramsey Show. Hey, Dave and John. It's a pleasure to speak with you today. You too. What's up?

So my wife and I are getting really close to getting out of our student loan debt, and we're really looking forward to living the debt-free lifestyle. Cool. And we're just curious. We still have a couple credit cards open, and we just want to know how that works in closing those down and how long is the process it takes to basically get rid of your credit history and credit score. Well, your history will stay with you seven years from the date of last activity on each item,

ten years if the item was a Chapter 7 bankruptcy. So if you close that credit card account, that account will show up for seven years, but it'll get obviously progressively older. And when someone looked at your credit bureau report, they could tell, hey, they closed that credit card five years ago. And so it really doesn't start to count in any way for you, against you, or anything after a couple of years, but it still shows up. Now, that's the show-up part. If you shut down every single account, you have no outstanding credit account of any kind and they're all closed and zero balanced about six months later you will have no credit score might be nine months might be nine months

might be 12 but somewhere in that six to 12 months okay so in in when we're looking to move or eventually buy a home but those things won't show up in, say, a couple years, and we can do the whole underwriting process that you talk about. They will show up, but you won't have a credit score, and you would do a manual underwriting with a zero credit score, an undeterminable credit score. So, for instance, I filed Chapter 7 bankruptcy when I was 28 years old. I was 38 years old, and it was still on there. But it didn't count against me anymore because it was 10 years old at that point. And I wasn't borrowing money anyway, so it didn't matter. And it did not go towards creating a credit score.

There's no activity. So the first thing I did was make sure everything was shut down and closed and zeroed, and there was no continued activity. Because if you have an outstanding bad debt, that stays on there because they're going to keep adding activity to it where they're trying to collect what you owe. So bad debt being on there showing up on your credit bureau report as active they're all closed and they're all zero balanced then uh it doesn't take that long for your credit score to evaporate which is wonderful i've had some instances over the last few years

where just buying maybe buying insurance or buying a cell phone a lot of different companies are asking hey we want to run we just want you to know we're going to have to run a credit report on you and it's and i tell them i'm paying with cash the gab is just part of the thing and it seems like more and more that score they want to know who they're dealing with well they're trying to figure out if they can sell you something is part of what they're doing in some cases. Now, with insurance, insurance gets rated if you don't have a credit score. Okay. You're going to get a little more expensive rate.

Ah, okay. Because there's a bogus study that was done probably 25 years ago, the University of Texas with the University of Pennsylvania did it together, that showed that people with low credit scores had higher claims on their car insurance and their homeowner's insurance were more likely to have a higher claim on their – a claim at all and a higher claim. What they didn't – the reason I call it bogus is – which does make sense because these are broke people. But that's bad statistical fishing there. Well, the thing they left out, the reason I call it bogus is they left out the person with a zero credit score, which you would find someone like me almost never files a claim because I've got tons of money.

I just pay cash and I just fix the car or whatever it is. So if they had done the study a little bit more thoroughly, someone like, but I pay a higher car insurance rate because I have a zero credit score. That's fascinating. And it's just because it's a bad, you know, the entire industry used it as an excuse to raise rates. So why would somebody in your net worth situation still carry car insurance well you carry liability because you have to yeah that's right legally well and it's inexpensive the liability portion is i actually carry full yeah coverage anyway because i drive expensive cars and it just i just you know and i've got what's called stated value we're not going to

negotiate about the value of the car if it's gone it's just gone and you just write me that check gotcha and that's a little more expensive too so it's a high but super high deductible carry a huge deductible but an expensive vehicle you know you're driving a hundred thousand dollar raptor yeah you know or eighty thousand nine thousand dollar raptor then that's you know in that situation you're probably going to make sense so i still do i still do carry those but there's it's a at that point it becomes a decision i'm going to make sense of it. I still do. I still do carry those. But at that point, it becomes a decision. I'm going to pay this money for the sole tax, right? Yep. Yep.

That's how we're thinking about it. It's just taken care of. I don't know what to think about it. I like that. And the deductible, the high deductible makes the price reasonable. Yep. So run the deductible way up. But anyway, but on the cell phone, that's completely bogus yeah they'll sell you

a cell phone with that oh absolutely yeah yeah and uh and what i do in those kinds of situations because my cell phones are through our company we've got a bazillion cell phones so it's a different it's a corporate contract but if i were walking in and some situation pops up like that with me today or with you today i just go uh not only do i have a zero credit score but my credit bureau report's frozen yeah and so you can't access it so good luck with that it's not it's not gonna work out my business right now i work out or do you want this money or not you know and they're like okay yeah we'll take your money that's right okay we'll figure it out yeah yeah and uh but there's very i mean i've not had any services of any kind that I've wanted denied in 20 years.

Yeah. Well, I've never had anything denied. In the first 10 years, I mean, when I started this stuff with no credit cards, I was walking around with no credit card. They didn't have debit cards. So you had to have cash cash cash. And I did run into places that I couldn't get in a hotel without a credit card. You know, I couldn't rent a car with the cash. And there was no debit card as a substitute that was just as good, you know.

So I didn't have that as an option. And, of course, in those days, online didn't exist. The Internet didn't exist in that decade. But that, you know, it was interesting. I went to speak one time on people getting out of debt and uh they had reserved the company i was speaking for had reserved me a rental car when i got off the airplane they wouldn't let me have it i had to call a cab wow that's taking your principles though man it's yeah it's not not having another credit card i'm done with them

forever that was 30-plus years ago. This is The Ramsey Show. With more frequency than you know, I get calls and emails from people dealing with the recent loss of a spouse or a parent. You can hear the struggle and the heartache that they've been experiencing. And at a time they should be grieving, what breaks my heart the most is the strain and tension that they're going through because of money, especially when it's a situation that could have been avoided. If you have a family, it is your responsibility to have term life insurance.

It's one of the things you do to say I love you. And yes, this is an ad for Zander Insurance. It's one of the things you do to say I love you. And yes, this is an ad for Zander Insurance. But since this is one of the most effective ways I have to get my point across, so be it. For over 20 years, I've been telling you about the importance of Term Life Insurance and protecting your family. Listen, you need to check out zander.com or call 800-356-4282. I can't say it enough. Protect your family. It's what you're supposed to do. Go to Zander.com or call 800-356-4282. Dr. John Deloney, Ramsey Personality, is my co-host today as we talk about your life and your money. Thank you for joining us, America. We're glad you're here.

Matthew's in Knoxville. Hey, Matthew, how are you? Hey, Dave. I'm doing well. How are you? Better than I deserve. What's up? So my question is, my wife and I, we've been married three years so far. We had a baby boy named Parker.

And we have done everything to a T for your standards. We got married. We paid off $40,000 in her school loan. We cash flowed her grad school. She's a nurse practitioner now. Graduated in May. We just now bought a house and paid down payments for it. Now we're just struggling to know

if we're saving enough money per month. Way to go, man. Congratulations. Do you have your emergency fund in Dunn? Three to six months? Yeah, we have a $10,000 emergency fund. What's your household income? So right now I went to part-time so I can stay home and babysit our little kid. So right now our household income is between $130,000 and $140,000

without my wife's bonus checks of $20,000 each year. Okay. And are you saving 15% of your household income into Baby Step 4 into retirement? Yes. So we put $1,000 every month into our Roth IRAs, and after that we're only saving around $1,500 after everything's paid for, which is unusual for us because we just now started our Roth. Before that, we were cash flowing school and saving up for a down payment.

So we got used to saving $3,000, $4,000 a month, and now we bought this house. We're investing more in our retirement. Are you familiar with our Baby Steps process? Yes. Okay. Baby Step 4 is saving 15%. You're out of debt, okay? So your other type of saving, and you have your emergency fund,

your other types of savings are done. We're working the baby steps here. So baby step four is 15% of your income going into retirement. And so that would be $22,000 or so, $20-something thousand dollars a year, okay, somewhere going into retirement. Does she have 401K available at her place? Yeah, I think we put in 5% to 10% here at the hospital. Okay.

Well, you need to add up your total income times 15% and make sure you're putting that amount away in total and no more into retirement no more than that everything above that would go to parker's college fund baby step five and baby step six above that we're going to start paying down the house quickly and so what you where you would have been throwing money additional monies into savings now you're putting a little of it into parker's get him a fund started and for college and then beyond that we're going to get this house knocked out okay that makes sense it is really hard for us because like i said we've been so disciplined

and saving like three four thousand months down to like 1500 a month after everything's paid for and through 1500 a month is not enough yeah right right so that that's that's the point and hey matthew let me give you one little piece of advice from this point forward never say you're babysitting your own kid it's called parenting okay so you're gonna you're gonna save yourself some heartache with your wife and other people just say say, hey, I'm going to stay at home, go part-time to parent my kids, not babysit them. Babysitters, a teenager that you hire off from an app or something, I don't know, off a local school or something. There you go. There's my two cents on that call, Dave. That works.

Kathleen's in Cincinnati. Hi, Kathleen. How are you? I'm doing great. I'm very blessed. Thank you so much. Good. How can we help?

Okay. Christmas coming home. We had doing great. I'm very blessed. Thank you so much. Good. How can we help? Okay. Christmas coming home, we had doing great. Then my husband decided to hit the pavement on the side of the highway. So now we have an issue where we have to retire. We're both 64. I don't have to retire to get he dead. I don't understand. Your husband hit the pavement.

What are you saying? Yes, his heart. Did he pass away? Yes, his heart. Did he pass away? No, no, no. He's still alive. It's just that he asked me to pull over. I pulled over.

He acted like he was going to get sick, and next thing I know, he's flat on the ground. And here we found out it was his heart. Oh, he had a heart attack. Well, they say it was AFib. So anyway, all I know is he's got a pacemaker now okay um we get home doctor says he has to retire we weren't planning on retiring um him retiring until he was 66 and two-thirds but he's going to have to do it this year so we have stop stop stop slow down Okay. But he's doing okay now? Yeah, for right now. Yes.

Well, what does he do for a living? He's an engineer. Okay. And that affects your heart? He is in a stressful situation. Oh, so the stress of the in the work of the work environment yes okay and the doc says that's contributing to his heart issues right i would recommend meeting with another doctor yeah not that that he may need to leave that job um but the idea that the solution to stress is to do nothing

well it's not actually for him to do nothing just to leave that company because he's okay being the engineer mentality he's not one to just sit at home right well leaving that company is different than just not working anymore yeah but he would like to have that choice, which I understand where he's coming from. Okay. The question I really have is we're totally out of debt except for the house. I owe 68,000 on the house. We have been pretty much living on half his paycheck. He brings home around 44,000 a month, and I take an extra two and put it on the house, along with the payment to pay that off.

So my question is, should I continue to do that? What is your nest egg? Because we have $24,000 in emergency fund, and we have about $375,000 in retirement. Okay. All right. All right. You are obviously the detail person, because the way you've discussed every bit of this, everything's absolute.

I'm sorry? That's okay. No, that's a good thing. It's just easy to communicate with you because I'm the same way. We call them nerds around here and we love nerds, by the way, because I'm that way. So, I think there's probably another play that's actually going to occur here.

OK, I think you're going to get a second opinion on your husband's ability to engage into work. $375,000 with a paid off house is OK to retire with. Not super great, though. It's better than nothing, but it's not it's not like it's automatic and you don't have to worry about life or anything like that so i would think that he's probably going to work a couple more years somewhere else in a less stressful environment that is approved by the medical professionals um and that income will go ahead and get your house paid off. Meanwhile, you need to keep putting money into the 401k and growing it. Yeah, we are doing that.

We have the full 15%. Yeah, if we can get another three to five years out of this, which is what your original plan was, your 375 is going to become 500 plus what you add to it, probably going to become 600 or 700. Now I'm feeling a lot more comfortable, and the house gets paid off. is going to become 500 plus what you add to it probably going to become six or 700 now i'm feeling a lot more comfortable and the house gets paid off uh obviously don't want to uh cause him to have a heart problem by me putting a lash on his back and saying he needs to keep working

but i think some kind of work at a maybe even the same pay at a different environment is probably going to be okay and i also want to again i know calling the show it's it's nervous when you when you when you get on the air and you've got these lists that you've you rattled off so i want to speak too much into your life here but the way you presented your husband's heart issue was a real inconvenience to this plan you have. And I'm telling you... Everything's going good until you hit the pavement. Until I hit the pavement and screwed up all my plans. And I would tell you,

that is a recipe for a stressful home environment as well. And so maybe consider looking at your husband as... And I know you do this, but as a close friend who suffered something hard and it's scary and let's sit in that for a minute. It scared her too. It scared her to death and then let's figure out what comes next. You may have to go to work. He may

have to work less. Whatever that looks like but you live in absolutes. Let's soften things up a little bit and just grieve. Get these edges rolled over a little. They screwed up this time, Dave. Oh, yeah. Dr. John Deloney Ramsey personality is my co-host today as we talk about your life and your money. It's a free call at 888-825-5225. Chris and Chloe are on the line in Jacksonville, Florida.

It says on my screen you guys are debt free. Way to go, guys. How much did you pay off? $47,090. Good job. And how long did this take? 21 months. Wow.

And your range of income during that time? $58,000 to $125,000. Well, there's a nice jump. What'd you guys do to double your income? So, uh, my wife, she graduated college, so she got a job. Um, and then on top of that, we did a whole bunch of door dashing Uber eats. I did, uh, some, uh, freelance software development on the side as well. Wonderful. So what do you guys do for a living? I'm a graphic designer. And I'm a software engineer. All right.

Very good. Good for you. What kind of debt was the $47,000? Oh, everything. Student loans, car loans. We had cell phones. Disney passes. Disney passes. Credit cards. Credit card, yeah. Everything. loans car loans we had uh cell phones uh disney passes credit card yeah everything wow a little bit of everything amazing okay so did you get out of school chloe 21 months ago then

yeah uh well no no no you started it before you got out of school that's what happened before i got out of school um and then we actually paid the last three semesters of my schooling in cash so how much uh how long have you guys been married um four and a half years okay so what happened 21 months ago that made you push start so actually we were uh sitting in church one day listening to a sermon on money, and we felt really convicted about not tithing. It was something that we had had some disagreements on, and we were both really scared about it because we had pretty much no money at the end of the month, to the point where we were actually putting rent on the credit card, just trying to make ends meet because of the hole that we dug. Ouch.

And so we were sitting there, and we decided to trust God and we made our first tithe together and prayed, God, we're not asking for more money just to make this happen. And it's crazy because a couple of days later, literally after sitting there in church, my best friend had called me and we were talking and we got on the subject of how our old car was about to die. And I was like, there's no way that we can afford a car payment. Like, I don't know what to do. And she's like, stop, stop. Like, no, no car payment. Like, just listen, hear me out. Have you heard of Dave Ramsey? And I was like, no. And she's like, he's this really cool guy.

And please read Total Money Make makeover and it's just history from there oh wow yep that's exciting and he she your friend yells like dave does that's fantastic and so then who sat down with who and had this conversation so she actually talked to me about the book and then we would listen to the book on our way to uh disney with um like it was a nice long trip to like uh be able to listen to the your book and um then from there we kind of started working on it together how convicting of it what was it to drive to disney world on disney passes that you bought with a credit card listening to Total Money Makeover. Oh, yeah. It was

so bad. That has to be a painful drive. Yeah. It was. Oh, my gosh. That takes a little of the buzz. That's a buzzkill. For sure. Want to go to Space Mountain? Oh, whatever. Yeah, I don't know. Who cares now? Well, way to go,

guys. I'm so proud of y'all okay yeah this is amazing you're very very fun so uh what uh what do you tell people the key to getting out of debt is you did it i think for me the biggest thing is just the budget like it was it's amazing to me how freeing it was to be on a budget. Just like it really makes the whole thing work. And for me, I'd say my biggest motivator was my why. And my why was changing my family tree. So I grew up super poor and I didn't want to have our future children live up in an environment like that. I wanted to own a home and have, you know, financial peace, stability.

And I mean, these baby steps have allowed us to do that. We actually just completed baby step three. And two weeks ago, we moved into a brand new home, you know, less than a quarter of our take home pay. Way to go, guys. Yeah, I like it. Well done. Well played. Well played. Excellent. Excellent job, guys. Yeah, I like it. Well done. Well played. Well played.

Excellent. Excellent job, guys. This is so fun. Proud of you. Good, good work. Thank you. Very good work. Hey, we got a copy of the Baby Steps Millionaires brand new book, brand new bestseller, and How Ordinary People Built Extraordinary Wealth and How You Can Too. That's your next chapter in your story, going and be millionaires now that's pretty fun and of course then we're also going to give you

another copy of the total money makeover for you to give away to someone and uh cause a ruckus like your friend did with you you can yell stop it very cool chris and chloe jacksonville florida forty seven thousand dollars paid off in 21 months, making $58,000 to $125,000. Count it down. Let's hear a debt-free scream. Three, two, one. We're debt-free. Yeah.

That is fun. Yeah, every January we get hundreds of calls from people who are ready to start fresh like those guys. Ready to get control. And I'm, you know, trying to find a plan, trying to figure out what to do next. And the plan that has worked for millions and millions of people is called Financial Peace University. It's our class that has been taught for years and, of course, updated. We just updated some of the videos the other day. There will be brand new ones coming out and several of the lessons,

for those of you that are coordinators and leading people through, be looking for some new stuff on the way. And Dr. John Deloney did a new lesson for financial peace university that's absolutely amazing you can't wait for you to see they did that with george yeah it's good stuff and so um the whole step-by-step plan to get out of debt save money become outrageously generous and uh like that couple there they're just wanted they just want to figure out a way to tithe i want to figure out a way to make it work and still eat. And we can walk you through how to do that. RamseySolutions.com slash FPU.

You can have a free trial to Ramsey Plus. And Ramsey Plus will show you exactly what to do. And Financial Peace University is a part of that. You can get in the every dollar app premium version and get going. So that's RamseySolutions.com slash FPU slash Financial Peace University is a part of that. You can get in the every dollar app premium version and get going. So that's ramseysolutions.com slash FPU slash Financial Peace University. Be sure and check that out. Hey, that last call, the debt-free scream, I want to not blow by something. They went from a conversation with their friend about, hey, our car's dying,

and I don't know what we're going to do, to 21 months later, they paid off their debt, which is incredible, but they doubled their income through getting a new job and side hustles. And there's this moment of despair when so many people I talk to are collectively there right now, like, what do we do? And then it's, oh, we can do something.

And we can do a little bit more, and we can push a little bit harder, and let's go try this, and I'm going to do this, and I'm going to sleep tomorrow because I've got to get this done. And you look up, and they doubled their household income. And they bought a house. And they bought a home. Worried about how they're going to buy a car, and the net result is debt-free and buying a house. And thinking about it, we're going to buy a car and the net result is debt free and buying a house and i'm in in thinking about it we're gonna they took action

they took action and they took action six bucks at a time a door dash at a time not i gotta go make a hundred thousand dollars i gotta they did it door dash by door dash by door dash she got another job which is great but they nickel and dime the way they, not poke fun, but they baby steps their way to this thing. And we overthink getting out of despair. It's got to be this big rainbow. It doesn't. It's got to be one step and then another one and then another one. It's incredible.

There's, you know, you talk about this all the time, the physical changes, the physiological changes, and they don't happen with inaction. No. When you take action, even if you're unsure, even if you're just a little bit desperate, but you're at least impacting the situation instead of letting the situation impact you. There's something that starts to be released inside your body, inside your brain, inside your spirit, and you end up moving the money around.

And despair lifts with action. The cloud goes. Yeah. This is The Ramsey Show. Thank you. Thanks for joining us, America. It's a free call at 888-825-5225. Jordan's with us in Little Rock, Arkansas. Hi, Jordan. How are you?

Hi, Dave. I'm doing great. How are you? Better than I deserve. What's up? So I just went through your financial peace university and the legacy journey, and it was awesome. Great. And my question for you is kind of following in your footsteps.

How do you become a billionaire? A billionaire? Yes, sir. I heard you say that's one of your goals, and I know you said like mutual funds won't get you there, and it's kind of capped at like $5 million or something like that. No, it's not capped at that. But what I said was uh we've just done this

book baby steps millionaires and the difference in a million and a billion is a billion is a thousand million so you know you you can become a millionaire everybody can uh without a doubt using your 401k and funding it generously, like following the baby steps and then getting your house paid off. And that's the typical way people become millionaires. The first one to five million is what I was saying on that. It doesn't cap at that, but there's only so much, though, that you can put into a 401k. And so there's only so much you're going to have in a 401k. So you're not going to get to $100 million in your 401k. It's not mathematically possible.

And that would only be a tenth of a billion. So typically, now, I'm not an expert on billionaires. I am on millionaires. I have studied them, and I've looked at the numbers a lot. I'll tell you what I generally see. All the Forbes 400 is now billionaires. There's no one in the Forbes 400 that's not at least worth a billion, at least one billion. And Bezos is hundreds of billions.

I mean, it from nothing. And so they didn't inherit it. That's good news. So that means a lot of you got a shot at it. The billionaires that I have personally met, I've probably probably met now in person 25 or 30, and I've studied and read about a lot of the others. The vast majority of them made their money in a business. They created a thing.

They created a thing. Okay, so you look at Michael Dell. Okay, you look at Truett Cathy. Or Bill Gates. You look at Bill Gates. You look at Bill Gates. You look at Oprah Winfrey. These are business people that created a business that became very, very large. And so the vast majority of my wealth beyond the first 10 million net worth that I made

has been from the business Ramsey Solutions. Gotcha. So is that something where it's like you need to take a company public kind of thing could or don't have to uh chick-fil-a is not public ramsey solutions is not public uh hobby lobby is not public and david green would be on that list do you kind of still hold the same principles with like financing businesses like that i don't finance anything no we're starting something like there's no there's no there's no indication debt caused them to become a billionaire uh but what it was some kind of a they were adding value to the marketplace or adding value to the community and people paid them for it. So they, you know,

Bill Gates, you know, most famous example comes up with a personal computer, right? Apple, you know, is not attributed to a singular person, but where you're adding value, a good or a service that you are bringing is extremely valuable. Elon Musk, you know know is um uh adding value uh with the tesla and spacex and so on and uh so these people and a lot of them are people you might not be household names like we're mentioning those are all multi-billionaires but the first one to 10 billion even uh an unusual number of them did it with a business. I don't have actual facts on it in terms of I can show you percentages or I've broken it down or I've done detailed research,

but that's just anecdotally looking at it and saying, okay, who's on that list? Where'd their money come from? And you just kind of do it that way, and it's kind of a common-s to the repeat to the first round of what could become detailed research but i doubt i'll do detailed research on a billionaire where did the narrative come that if you were wealthy it's because you did nothing and someone gave it to you because it the data in your book says that's false it's just simply inaccurate and then i had never even thought about the billionaires that i'm sure there's saudi princes and whatever and it but these folks like

man talk about right place right time the world shuts down and i got this little company called amazon that delivers stuff to your door yeah you know what i mean yeah like they created something of value yep and and that's where the money comes from you know it's the someone got helped someone got served someone got entertained yeah and that's where the money comes from but this narrative is that well the narrative is marxism i mean you cannot support communism as a as an economic methodology uh unless you first have to lay the groundwork and say uh that that all of the wealth the that the aristocracy that has the wealth are evil and so it must be taken away from them you have to vilify you gotta make somebody bad and the problem is is in america that the people that

they're vilifying are successful people and the problem is they're successful helping other people they're helping other people and so the narrative won't hold water in america because people are walking around going no i know that guy he's not i know that gal they're not i don't hate oprah you know i'm sorry you know you can't it's not it's not legal to hate oprah you know it's not i mean you can't you can't you know I mean, you can't go, okay, kill all the rich people, like the Russian Revolution, right, which was brought on by Marxism and brought on by communism. So whether it's that level of violence or not, you can't, in order to say that life is unfair and so we have to have anarchy we have to change the whole system

of economics to to one where everyone is equal right okay uh the only way that that works is you have to first vilify the ones that have the money those who are above the bell curve are evil that's how they got and you know if they if they were uh russian aristocrats in 1901, you could go back and probably prove that they were inbred evil and had no reason for having the money. The money was handed to them, and they provided no value to the community. So it was a lot easier to get mad at them, kill them all, and Karl Marx steps up, right? And so that's – but the problem – But love him or hate him jeff bezos drops boxes off at my house well he doesn't i know he has somebody do it for him but yeah but but i mean he provides

me with a service whether you like him or not you know a lot of people use what he has yeah and whether you like bill gates or not or whether you like you know uh the whole microsoft movement versus the apple movement or whatever, all that doesn't matter. It doesn't matter. Bottom line is, is the personal computer has changed the world. Right. You and I have things sitting on my desk here that filled a room just a generation ago, the brain power.

And those men, the Michael Dells and the women that are involved in these things in Silicon Valley, and they brought value. Now, are there robber barons out there? Yeah, of course. It hits it everywhere, though. But by and large, they're not the norm. Right. The norm.

And so you have to say you have to vilify success. And they're having trouble doing that in America because the data is against them. Yeah, the data is so clear. It's very clear. Yeah. And so you go go okay um you know how can you make it without some cheese's chicken i mean you got to have a chick-fil-a right so um

it's like i it's you you know if you don't have some ever so often you're just not okay so it's uh they serve a lot of people with the fastest service at a drive-thru anywhere right and high quality hot food. And they're kind. And wonderful teenagers working there that know manners and wear a belt. And it's pretty amazing. And, you know, so it's, you know, how are you going to vilify that? Right.

Well, you have to if you want to tear it down. Huh. First have to make it bad if you want to tear it down. And the problem is it's a lie. It's not true. It's not true. And so it won't hold water. It doesn't work here.

So you wealth inequality people, sorry, you're going to take your communism to a different continent. It's not going to work here. This is The Ramsey Show. If you would like to do your debt-free scream live on the show, make sure you visit theramseyshow.com and register. We would love for you to come to Nashville and tell Dave your story.