The Ramsey Show - App - Should I Buy an RV? (Hour 1)

Episode Date: September 16, 2022

Take our Audience Survey & Enter to Win a $500 Visa Gift Card: Click here to take the survey   Ken Coleman & Dr. John Delony discuss: Dealing with scammers, A travel nurse considering buying an RV, Unhealthy work environments, Quitting a job to start a business.   Want a plan for your money? Find out where to start: https://bit.ly/3nInETX Listen to all The Ramsey Network podcasts: https://bit.ly/3GxiXm6   Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Девочка-пай Live from the headquarters of Ramsey Solutions, broadcasting from the pods moving into storage studios, this is The Ramsey Show. It's where America hangs out to have a conversation about your life and your money and your mental and relational health and your work. I'm Ken Coleman. I'm joined by my colleague, Dr. John Deloney. The phone number to jump in today is 888-825-5225. That's 888-825-5225. It's a free call. And as always here on the Ramsey Show, we're going to talk about your money. But it's always fun when the good doctor and I can get together. We're coming off of two days, two nights rather, in Phoenix, Arizona, where John and I

spent 45 minutes each night with the audience at Building Wealth. And John, we were talking about anxiety and stress in two major areas of our lives, the two most important areas of our lives, relationships and work. And it was a lot of fun. And we didn't do much talking. We did a lot of listening and answering of questions as men and women stood up in the aisles and just asked question after question. And so today, I would just tell you while John and I are here, we love to combine and talk about specifically if in your work life things are really awful.

I can tell you, you're dragging that stuff home with you. You really are. And it is having a profound impact on your relationship. So John and I want to team up and talk about the relationships, the mental health, the anxiety side of things in your personal life and in your professional life. That's our particular areas of focus. And of course, we'll answer your money questions. So hey, it's a free phone call. So there you go. Jump in. Let's go to Catherine, who starts us off this hour in Spokane, Washington. Catherine, how can we help? Hello. I am very nervous. My question is actually about being sued by collections. And it's on behalf of my 76-year-old mom.

My 91-year-old father was a victim of a phone scam. They charged him $10,000 to, um, like a consolidate, um, his credit card debt. Um, but it was a scam company. Um, we found out about it right away, contacted his credit card to let them know it was a scam. Um, they didn't do anything about it. They left the charges on his credit card. Um, and it went to collections right after that. Um, I had their, they weren't ready to let go of their home phone. So it was forwarded to my cell phone so that he would not fall for any more scans. Um, I have not received any collection calls on their behalf, but now my mom is being sued by collections for $25,000. $15,000 of that was their debt. But $10,000 of that is this scam. So she's going to have to go to court. And I am

wondering, well, how I can help because I intended to try to settle with collections on their behalf. They did give us the power of attorney. My brother is there kind of helping them out. But what do you do when you are being sued and not all of the money is legitimate money that they spent. Did you guys ever file a dispute of charges, like a formal dispute? Yes, yes. And they just didn't respond to that?

They stood by that, oh, because my 91-year-old father, you know, gave these people his credit card information, then that was a legitimate spending of the money. Even though it was a scam company, they had no intention of ever helping him out of credit card debt. Okay. What kind of documentation do you have on the scam company that you can, can you prove to a lawyer, if you were standing in front of a judge or standing in front of John and I, could you prove that that was an actual scam company? They don't provide what they charged your grandfather for? It's my dad, but yeah.

I'm sorry, your dad. We got a letter from some like random firm in New York, some lawyer. It was just a front situation, but they never provided him any services, and they just fell off the face of the earth, did not reply to the credit card company's attempts to get the money back or anything like that. Do you have an attorney currently, you and your brother, on behalf of your parents? We do not. You get a really good one.

Yeah. I think this is going to be a pretty slam-dunk case, but I'm no lawyer. But if I were in your shoes, I would be fighting this. The credit card company, they're not playing ball. They're not playing nice, and they're not going to. And so you're going to have to prove this. You're being sued, so you might as well play ball and win. What do you have in cash or your parents have in cash that if you were going to settle this,

they could write a check for me and be done with it? So my brother is currently living with them helping them out i live across the country from them so there's limited things i can do i'm willing to be on the phone for them um but but i mean if you had if you called if the settlement came up he could do it do what he could i said if if um we could negotiate a settlement not including that ten thousand dollars um we could come up with the money including that $10,000. We could come up with the money. But what I'm asking is if you get an attorney that's going to reach out and first they're, they're writing you a, a suit letter, right?

Which is usually threat number one. It's just, they sold this debt to somebody that has a front and they're just trying to shake down your parents, right? Some of it they're shaking down for their, they want their money back and that's fair. And you've said that, right? The other is they just wrote off, they sold your bad debt without explaining it to the person they sold it to that this is no good, right? So I would come up with a number that you could give an attorney and say, we've got $7,500. We got $10,000 right now that we need this settled.

And we disputed this claim on this date. And you're going to, like Ken said, you'd be very specific. Here's when we called and made the complaint. Here's when we received the rejection. Here's the, I have all your ducks in a row. And I think we're at a point now where we're going to call an attorney that would help us um navigate this and hopefully you can have cash and say we're going to settle it for this we all want we want to walk away from all this and your granddad's 91 who I mean your dad's 91 who cares about his credit at this point we're going to settle this thing and be done with it yeah my um I guess then my follow-up question, because like I said, I haven't gotten any communication from them and I have their phone number, is that say my mom goes to court and they make a judgment against them.

At that point, we can't negotiate anymore correct and well if they make it if they make a judgment and then the judge says this is what the the the payment's going to be it will never get to court if you get a lawyer they will settle out it's never they're never going to go to trial okay uh the chances of that happening are so small if you did the judge has the ability to say this is what she actually owes here's's the gavel, right? But I wouldn't lose sleep over that yet. I would get an attorney that's going to walk alongside you through this process. Yeah.

Thank you for the call, Catherine. It's going to be okay. I'd get a Bulldog attorney, and I'd interview two or three. I'll go with the first one who seems the baddest, toughest. Make sure you feel good about it. Get a good idea of what you think the steps are. And then fight this thing. You've got the evidence. Thank you for the call. Don't move. More Ramsey Show right around the corner. welcome back america you are joining the conversation here on the ramsey show i'm ken coleman joined by dr john delaney we are ramsey personalities we are your co-hosts for this hour. It is a free phone call.

Jump in at 888-825-5225. That is 888-825-5225. Have you ever wanted to hear the most popular calls from The Ramsey Show? Or do you love a good Dave rant? If you want to listen to our take on current events, maybe you just want to watch some of the best debt-free screams that people love. We've got a new limited series titled The Best of the Ramsey Show, where you get all of those things I listed, plus more. We also hit the current real estate market, investing, and how to take control of your life and money in these wacky times. You can find these special episodes on

The Ramsey Show YouTube channel or on Spotify. Just search the best of the Ramsey Show. Check out the best of the Ramsey Show on YouTube or Spotify. All right, let's get back to the phones. Tina is next in Dallas, Texas. Tina, how can we help? Hi. Hi, Tina. I have a question for you.

All right. I'm kind of in a dilemma. I am a traveling nurse nurse and finding housing, especially when you have a dog is horrendous. So I'm considering getting an RV or a motor home, some of that sort. So I can just take it wherever I go, have my home with me. But my dilemma is I'm selling a house right now. I'm selling it for around 230,000. I figure if I get a motor home for 70,000 or less, I'd only have 140,000 left to put down on another home.

So that's kind of keeping me from doing it. And I think that's it. Okay, so let's, let's just back up here. I think that's a good chance. Yeah. Let's, let's go through these numbers. So you have currently listed your house. Yes. And you expect to get how much for it? About 230. Okay. And how much do you owe on it? Nothing. Oh, nothing. So you're going to come into cash. So $230,000 minus your realtor fees. No, $230,000 is actually after all the fees are taken out. Okay, $230,000 would be your net. Great.

How long do you plan to keep traveling as a traveling nurse? At least two years. Two years. And it's just you and the dog? Yes. What's the dog's name? I feel like we need to know the dog's name. Tuxedo.

Tuxedo. That's a great dog. Okay, so it's just you and Tuxedo. And he's a corridor. What's that? He's a corridor. Okay, fantastic. I literally have no idea what that means. Me either.

I just went with it. You're a better person than me. Yeah. How big of an RV, because I thought I heard you say something like a $70,000 RV. Did I hear you say that? Well, I was looking last night online, and I was looking at a Class C motorhome. And they go from... How big is a Class C?

I found some for $50,000 to $70,000 is kind of the range. How big is that? Around 30 feet. Yeah, I mean, I don't... Do you have a Class C license? No, you don't need a license for that. But you don't need a RV that big is my point. Here's why I'm going this route.

It's just you and Tuxedo. I know, yeah. I get it. I get that you don't want to have to worry about taking care of him. And so I guess you'd leave him in the RV when you're working. Is that the idea? Or put a good little fenced yard and put him in. Yeah. Okay. So I just, normally we don't recommend that somebody buy an RV unless it comes down to the amount of cash that you have and you have no debt and it's a small portion of your income but in your case as a traveling nurse i get it i i just and you've got the cash i i just think that i'd be looking at a much smaller rv uh that's way less money it is where i'm headed do you have any

other debt no yeah we'll be debt free i i just think yeah, I mean, you're going to do this for two more years. This RV is going to continue to lose its value. So for a two-year short-term play, and it sounds like the way you presented on the phone call, it was really about tuxedo. We want to make sure that I'm not having to dog-sit him everywhere I go and find, I get that. So I would just do a much smaller much cheaper RV and now you've got a whole lot more money but $70,000 for you and tuxedo it just seems a little much or if you do the math on that it's 2,900 bucks a month in rent could you not find a place for cheaper than that wherever you go oh wow like 70 grand against 24 months yeah it's 29 it's almost three thousand dollars a month in rent what are you doing it's just too much for depreciating asset now you can

sell some of it when you got it when you sold it right but you're talking about oil changes and headaches and all the stuff right i there's something else at play here what is it do you have 230 000 bucks burn a hole in your pocket or you just tired you don't want to be there's something else at play here. What is it? Do you have $230,000 to burn a hole in your pocket, or are you just tired? You don't want to be an apartment dweller? What is it? No, it's just getting into people's homes and

living in their spare bedroom, and everybody wants to overcharge what their bedroom is actually worth. Right now, I'm in a very tiny little room for me in a tuxedo bedroom. And we got a little tiny private bath in these people's home. And the people are super nice. But I'm paying $900.

For how much? A week? A month? What are we talking about? A month. Yeah, but you're making really good money as a travel nurse. Yes, but people got to remember, I mean, I'm not in that position, but other people. I get it. Listen. They've got an apartment somewhere where they, you know. Sure. I like your idea.

Listen, I like your idea. John and I are challenging the cost. I would spend half of that. This is a two-year short-term play. But I just want to be honest with you. The tiny room and the tiny bathroom you have at other people's houses, there's going to be a tiny space in that truck. It's going to be a little RV. And your picture is coming straight off of HGTV,

where there's this picturesque background, and there's a motorhome parked there and a fenced-in yard. Have you ever been to a temporary RV park? I traveled once before and I had an RV at that time. Okay, how was it? I liked it.

Yeah. Well, then go for it. I say go for it. I'm just challenging the $70,000. Have you been there before? I don't think it's why. If you were my sister, my friend, you're my new friend, I would say $70,000. No, no, no, no, no.

Let's see if we can find a decent used RV in the $35,000 range or $30,000. I don't even know. I don't even know the prices of RVs these days, John. But I just think it's too much to go for $70,000. I think it's going to end up hurting you. Well, that was a high point. That was a high side. I know, which is why I'm saying, hey, slow your roll a little bit.

Okay, let me ask you this, Tina. You've done this before. You've lived this life. Why are you asking us? Because I'm scared to take that money from the house because someday I want to buy another house and I want to have that down payment. I love having a...

I just moved from another state or from another house into a house and I was able to pay cash for that house when I moved in. There you go. So here's the deal. You're very, very... That's what was great. You are very smart.

And you've got lived experience. Trust your body. And your body's telling you, this is a lot of money, especially for what our long-term goals are going to be. Trust yourself. You're smart. Yeah. All we did was confirm what John's saying.

Your body told you. Yeah, you don't need two knuckleheads on the radio to tell you that you're smart and that you're worth listening to. One and a half knuckles. One and a half. There you go. Come on, John. Is that fair?

You got this. Tina, just be smart. It's a two- knuckles. One and a half. There you go. Come on, John. Is that fair? You got this. Tina, just be smart. It's a two-year play. You're crushing it as a travel nurse. You know, John, these travel nurses are still at a premium, and she's making really, really good money. And this is a two-year play. Folks, anytime you're in a temporary play and you've got a chance to make really good

money, but you're going to be transit like this. Keep your expenses super, super low so that when you come out of this transient season, now you can really put down roots and she's going to have a lot of money. I wouldn't spend more than $30,000, $35,000. No, and always remember the situation you find yourself in that you're not happy. Don't overdo it to jet rocket,

jet rocket, jet rocket, propel yourself, if you will, out of that situation. Here's what I mean by that. She's paying $900 a month in a tiny situation. It's not great. It's not fitting her lifestyle.

It's not fitting what she wants. Wonderful. $3,000 on the other side of that is a lot, right? Can we find $1,500? Can we find $2,000, right? Is there a middle ground there? And I'm the worst about, I don't like this little car, so I'm going to buy the biggest truck.

And then I end up doing something stupid on the other end of it. Find some compromise and listen to your body. It usually tells you the truth. By the way, Tuxedo doesn't care. Tuxedo could care less. He doesn't care. He just wants a rub on the head when she gets off her shift and he wants his little snack. He wants to run around and chase the ball.

He doesn't care where he sleeps. All right, folks, there you go. We're going to continue to take your calls. He is Dr. John Deloney. I'm Ken Coleman. This is The Ramsey Show is here for you. I'm Ken Coleman. Dr. John Deloney joins me in studio.

We're here for you this hour. Hey, we have our own shows on the Ramsey Network, and obviously we always enjoy co-hosting the Ramsey Show, whether it's with Dave Ramsey or with each other or other colleagues. And I just want to point out that today may be the day for some of you to get a little breakthrough. You're burned out right now. You're an absolute zombie.

John Deloney is here to talk about the mental and the emotional effects of that. I'm here to talk to you about what you can and can do in the office and what's the exit strategy to get out of that. So if you're feeling a ton of stress, you're bored out of your skull, you feel no meaning for your work, that's all real and it causes burnout. And John and I can tag team on that. So we're just letting you know, we're going to open up the lines for those calls as well. 888-825-5225, 888-825-5225. John, here's what I know. I could be absolutely my dream job. I mean, absolutely right square in the middle of it. And if my personal life is falling apart,

I'm not going to be a good worker that's exactly right and vice versa and then the flip side my marriage is just doing great and i feel like it's one of those rare weeks i feel like a great dad white yeah and work is tough and i'm getting overlooked it bleeds all over the house i'm dragging that home and i'm going to start ruining my marriage that's right so uh john and i love to do that in fact we were in phoenix uh the other night and we literally just did you said hey and I love to do that. In fact, we were in Phoenix the other night, and we literally just did – you said, hey, we're going to do the John Deloney show and the Ken Coleman show. Here we go.

It was pretty powerful. It was fun stuff. Let's get real. If you want to jump in on those type of calls, let's do it. But I want to get your take on something. This is kind of exciting, John. Okay. All right?

I covered this recently on the Ken Coleman show, and this is what's going on in corporate America. And it just happens, John, that this example comes from the largest company in the world. Or one of them. Okay, how about that? Awesome. Have you heard of the company called Amazon, John? Tell me about it.

Yeah, apparently they ship you anything you want. Is it a, it's a, I thought it was like a river cleanup company. No, no, no. They got all the products and all the stuff. Anyway, here's the deal. This is from Vox, recent article, john um amazon is facing a looming crisis they could run out of people to hire in their u.s warehouses by 2024 this is according to a leaked internal research project from amazon this is middle of last year The leaked findings also serve as a potential cautionary tale for other employers who are

trying to do the churn and burn, metrics, metrics, metrics. We don't care if you got to go potty. You got to stand there and get the package filled in three minutes or less. Amazon rules. A lot of companies are trying to emulate them because the stock price is obviously there. Well, the rest of the story is they're churning through people at an alarming rate. And the point is this internal study was to highlight, hey, we're burning through people so quickly, we're going to run out of that demographic that we need in the warehouse. So this is a real crisis.

Now, this is what I want you to comment on. Can we just, real quick before we get there. Yeah. Think of this sentence. It could run out of people to hire in its U.S. warehouses by 2024. My first initial thought is, well, if your place was worth working at, you wouldn't. Well, you're exactly right. That's my first. Oh, yeah.

What do you mean we're going to run out? You mean you're going to run out of people who are going to take your crap? That's exactly right. And live substandard and be treated terribly? Then that's like your wife's going to quit going out with you. Yeah. Right? It's not her issue.

Yeah. It's because I'm not worth going out with. Yeah. Jeez Louise. Yeah. So that's why this is a crisis. All right. Now, this is their response to this.

So Amazon spokespeople said the company will count on natural attrition rates to solve their current overstaffing problem now i want to break that down because there's a lot of big words there attrition overstaffing so here's what that means folks listen to this amazon overhired during 2021 obviously people were spending money like crazy now we're starting to see consumer spending slow down a little bit. So they've got too many people. So instead of treating those folks with dignity and say, hey, we overstaffed, we're in a downturn, and you're part the point where they go, screw this. I can't do it anymore. I quit. That's how they're going to downsize their employee group. Or taking 800 of them and putting them in a room and saying, look, we particularly need help in Phoenix. And so we're offering this bonus to move people to Phoenix. We're offering this bonus to move people to fill in the blank here, right? But no, we're just going to turn the oxygen down and let those of you who pass out and don't make it.

That's exactly what they're doing. That's going to solve our problems. And this is on the heels of Bezos earlier this year. Jeff Bezos saying we want to be the number one company to work at in the world. And their internal memo is going, hey, hello. We're about to run out of people. We're going to screw ourselves by burning through people too quickly. And they look at their too quickly and they look

at their current thing and they go that's fine we'll just burn people out now this is the other thing john that that i want you to comment on so i want you to that that view of people i'm just curious your take coming from the world you come from uh when leaders view people as just this i don't even know if you can view people as assets and then uh they have more workplace injuries than any other company by miles they've led the country in injury incidents largely in warehouses the pressure on the warehouse worker from the time that john delaney orders something from your house in Fairview to the time it goes to whatever warehouse, how quickly it has to be filled, and they don't let people take breaks. I mean, it is

close to really unhealthy, unsafe conditions because they're burning through people. What's going on in a company like that? How do they look at people for real? Not what they tell us. Yeah. So I think first there's a disconnect between the lived lives of your employees and that spreadsheet that's telling you you're doing a good job. And that's always a recipe for short-term gain, long-term fall off a cliff. The more you focus on how happy am I right now, right now. I'm just going to keep eating Twinkies. I'm going to keep not exercising.

I'm going to watch another movie. I'm going to do this. You're going to feel good for a while. You are. And you're going to wake up and you're going to be way overweight. You're going to do this. That's going to, you're going to feel good for a while. You are, and you're going to wake up and you're going to be way overweight and you're going to feel awful and your friends will have left you and you're going to, you're going to wake up in ashes. And this tells me that this is a company that has gotten, like you said it best, really excited by the applause at the shareholder meeting.

And they have forgotten that there is a whole bunch of people responsible for that applause and at some point they cross paths right and i mean this is just a control burn that's that's that's leapt that's left the control burn area and it's heading off into to set the wilderness on fire here's the deal folks it's gonna be a mess yeah the reason we share this is is because you got amazon workers who'll put up with this for a while then they leave and you don't have to put up with this you don't have to put up with this stuff you know and when you're in an organization that uh will not value people they they value process over people i've got news for you they're not going to change they will just keep going and keep going until it's too late. And this, by the way, is how the mighty fall. And I'm in no way predicting Amazon's demise,

but I'm telling you, that's a four alarm warning right there coming from an internal memo. And the fact is they're treating people like absolute garbage. I reported yesterday on the Ken Colman show, there's a company that a $15 billion company that does food orders, and they've hired Amazon execs who've come in and changed it. And you ready for this? They got disciplined. One of the managers, warehouse managers got disciplined because the evening before, a package was not packed in three minutes because the employee went to the bathroom for a few minutes i read the email on the show the the the higher up comes in the next day and sends an email and says what are we going to do

about this how do we anticipate this gee i don't know how do we anticipate when one of our people has to go less water less water right how do we walk around going what'd you have for lunch today exactly did you oh you ate mexican was it a burrito are you feeling gassy that's right do you think you have to go poo-poo later today and when you go how long are you gonna go for there's just gonna be somebody knocking on the door on the outside yeah you're done you're done you're done come on richard i mean what are we doing here right but it is that type of monitoring in the name of efficiency right it's become nannyship john not leadership yeah nannyship, John. Not leadership. Nannyship.

We monitored our kids when they were little, right? When it was nap time. Oh, look at Ty. He's not going to sleep. But look at what's happened with the kids. It's helicopter parenting, except it's helicopter bossing. That's it. And look, we've destroyed a generation of human being by helicopter parenting.

It's the truth. And we're doing it to our workers. And that's the reason you saw this turnover. Get people to buy into your mission. Come on. And let them feel valued. Yes. Like they're contributing to the society at large. And then you'll have a hard time getting rid of them.

Yeah. They'll stay forever. Yeah. To all the Amazon execs, why don't you try loving your people? Jesus. Why don't you just try loving them? Oh, Ken, you're so dumb. You don't know.

I know. Oh, you're a softie. Oh, my gosh. This gives me gas. You can't go to the bathroom. Oh, hey, you're so dumb. You don't know. I know. Oh, you're a softie. Oh, my gosh. This gives me gas. You can't go to the bathroom. Oh, hey, you only have two minutes. We'll be right back. This is The Ramsey Show continues.

I'm Ken Coleman. John Deloney joins me this hour. And we're here for you. 888-825-5225. 888-825-5225. 888-825-5225. Taking your money questions, taking your mental health and relationship questions, taking your work and burnout questions. We're here for you.

We want you to win in your life. Let's go to Silva in Houston, Texas. Silva, how can we help? Hey, guys. Thank you for the time. I have called a few times, how can we help? Hey, guys. Thank you for the time. I have called a few times, so it's a pleasure to do so again. Great.

How can we help today? Yes, sir. So the question is, I have a wonderful career. My wife does too. We both are completely debt-free, and we are wondering if it would be a bad idea to quit our jobs to pursue this

business idea that we have. Yeah, that's it. That's the question. Okay, so you guys have any debt? No, we don't. No debt. Okay. We have nothing, yeah.

What kind of emergency fund do you have? We have about, we have $20,000, which translates to about six months, and we have $30,000 outside of that that we currently have. We're invested in relatively safe investments. We're happy to be a successful banker for our work. Okay, great. And what's your joint income? Joint income before taxes is just under $110,000. Okay. What's the business? Yeah, you said you had an idea.

Yeah. Does it mean it hasn't launched? What is the idea? Well, maybe I misspoke, but it's not an idea. We actually already have it registered to the state of Texas, and it is to do DIY furniture. It's the foot furniture, pottery, paintings. Think of it like the new,

it's like a new home goods store. It's the brand that you rewind the brand, rewind the belt, and via that brand incorporate handmade items such as DIY furnitures, custom furniture, plates, pottery, paint, anything you would have used for decoration. Got it. And so what's your revenues right now and where and how are you selling those? And what I mean by that last question is, is it all online? Are you doing some pop-up shops in the area? How are you doing this now, and what's the revenue? Currently, we have nothing. We haven't started making any income right now.

We're still in the beginning stages of building the brand and creating the online presence getting in contact with local farmers markets and other avenues you can use here in person to eventually sell these things so we don't have anything okay i got good news and bad news okay the good news is is you got an idea um you guys have put a lot of effort into it sounds like you guys are in agreement as a couple. We want to do this. That's the great news. The bad news is, is you're not going to be able to quit your job anytime soon. And I'm just trying to be realistic. I'm not trying to be in any way a discouragement to you. I'm just, I'm telling you that my guess is a three to five year play. Because my advice is that we don't want to touch that emergency fund. So the emergency fund

is an emergency fund. Now the $30,000 cash that you have saved over and above the emergency fund, I like that and I'd like to add to that, but I'd want you two to start doing this. So let's just start making some chairs, rocking chairs or start whatever. And let's start selling it locally at farmer's markets or flea markets or antique places and get a booth and let's start selling it locally at farmer's markets or flea markets or antique places and get a booth, and let's just prove the actual product. I love that you're thinking about brand, but the reality is I think you've got the cart before the horse here. I want to prove that we can actually sell furniture and decor and things of that nature, and so let's say that we start out in our first month, we do it on the side, and you two two sit down and I'm making this up because this is the mental process I want you to

think through. So how many hours a week, you don't have to answer this, but how many hours a week can we, you and the wife, put towards this business? And let's just say it's 20 hours for sake of conversation. All right. So we're going to spend that 20 hours around just making and selling. And let's prove that. Let's say we make $2,000 the first month. Again, I'm making all this up. The $2,000 goes right into ABC bank account, whatever your brand name is, whatever your company is. And we're going to build up, build up, build up. And it may take you two years. Maybe you go nuts. Maybe in a year's time, you guys can put your $100,000 of joint income in the furniture decor

bank account. For anybody to leave a stable job and go full-time into a business, I want you to have at least six months of your income in the bank. And that would be the soonest that I would make the move to quit your jobs and go full-time into that business. Just trying to keep it simple. I'll stop there. I hit you with a lot. Does that make sense? Any questions about that? It does. It does make sense. You're just allowing me to prepare for the worst and take it with logic rather than with the green light. It makes sense. Yeah. And I would even say this. It's not that we're preparing for the worst. It's just we want to put ourselves in a...

There's no reason for you to assume a lot of risk with this business. There really isn't. I understand. Well, Silva, stay on the line here because I'm going to ask Ken a question on your behalf. Is that cool? Please, absolutely.

Ken, this sounds like somebody who is more interested in the idea of having a business than he is in the actual business itself here's what here's why i'm asking and you take these calls all the time on your show so i may be out to lunch here i've got friends who do their day job and then they go home and the moment they get home they play guitar or sand furniture down or scour craigslist they can't help but doing it and they look up and they have no friends because they play guitar all the time and now they're starting to get a couple of gigs the business takes care of itself this sounds like somebody who is very interested in the idea of brand building and

having a cool website but they've never even done the thing that they're about to jump off. Could be. Silva, he breaks up a good point. Are you or your wife into the decor and the handyman stuff of designing and then building furniture from scratch? Yes. As a matter of fact, we just recently got married in April, and we needed to furnish our new apartment home. And I would say maybe 80% of everything that's there was handcrafted by my wife or DIY by us. And we've been doing this. We get a lot of attraction from family and friends and all of us. I guess you could say feeling this idea,

and we thought, well, maybe we can monetize this. And because of my background in banking, I have the foresight to take care of the banking side of things, et cetera, et cetera. Yeah. So I think what John's hearing, and I think that was a good question because it's smart to go, okay, how much do you really care about this? But what I do hear, which I think you heard, is I think you're trying to do so much planning because you're a banker, you're a process numbers guy, and the plan will take care of itself. Just start making furniture and sell it.

Let's start making something and selling it to people. And then we go, oh, we sold seven of this chair, but we thought this chair was going to work. Nobody gives a crap about it. And so we go, oh, okay, no big deal. And then so we're just going to tiptoe into this thing, and then we're going to crawl a little bit, and then we'll walk, and then we'll run. And so I think it's back to that same plan, but you need to stop worrying about brand and all that stuff.

You need to start proving concepts. And let's get – Absolutely. This is going to turn off some of the listeners. That's fine. My son shot a deer last year. I just went and picked up the hide like they made a rug out of it.

Yeah. And I talked to the taxidermist today and he said, as deer season's starting, he said, it's about to get wild. And he said, dude, we could skip this deer season and we have a year's worth of work

already in the building right now. Wow. So I'd love to see Silva along those lines make a bunch of chairs and have people start putting deposits down on chairs and suddenly get a year or six months worth of work lined up. And then you can go, okay, now I've got cash in the bank. I've got these business going.

Now we're off to the races. Great, great point. John, for folks out there that are in Silva's situation, John made a great point. You want to get that six months of your salary tucked away in that side business before you even think about leaving the steady job however you make a very great point let's also have a pipeline yeah and you should if you've got if you're able to stack that much cash you should have a pipeline of business but you make a very good point so i just want to reiterate that because we get this question a lot on the show hey when do we know when to move from the steady day job to the side hustle full time? Well, first of all,

you have no personal debt. Okay, so you're walking the baby steps out so you're already through baby step 3A at least and then we've got money in the side hustle account at least six months worth.

That's the safe play. But to your point, a very nice pipeline of future business. Now, there's no risk here. You're off to the races, right? Yeah. And the risk is how well you manage that pipeline, right? That's different than finding stuff to eat. And by the way, friends and family will tell you they love something, but they're not going to part with their money for it, right? There's a total difference

in friends and family telling you they like something and the marketplace telling you they like something. Yeah, that's so true. Hey, Silva, thanks so much. Can't wait to hear back from you at some future point. Send us some pictures of those chairs. Hey, thanks to Dr. Hey, Silva, thanks so much. Can't wait to hear back from you at some future point. Send us some pictures of those chairs. Hey, thanks to Dr. John Deloney, James and the team in the booth, and you, America, this is The Ramsey Show. Dave here. We just launched a brand-new audience survey for The Ramsey Show,

and we'd love your feedback. You could be entered to win a $500 Visa gift card. No purchase necessary. Take the survey at RamseySolutions.com slash survey. Ramsey. Ramsey. Ramsey. Ramsey.