The Ramsey Show - App - Should I Get a Second Job To Beef Up Retirement? (Hour 3)

Episode Date: December 29, 2021

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🎵 Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studios, 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 and host of the Dr. John Deloney Podcast and YouTube show is my co-host today.

Open phones at 888-825-5225. That's 888-825-5225. Haley is in Denver, our first call this hour. Hi, Haley, how are you? Doing good, thank you. Good. My husband and I are currently on baby step number two. Our annual income is about $115,000 per year, and we have about $75,000 left in debt to pay off. So I'm thinking that we can be completely debt free within the next 24 months amen um and my question is where do we prioritize family planning into the baby steps

if we're facing an untraditional path to start our family through surrogacy or adoption uh well there's not a baby in the baby steps um you have babies when you're ready to have babies uh but you throw a curve in there when you say there's a different kind of a cost here okay and so um you know i i think uh and i guess the other possible uh question that comes up that's similar you're not asking that question but the similar is an in vitro uh you know when do we do that and i'm you know i'm 36 and i i you know i don't want to wait two more years and that kind of stuff i get that question over the years a lot that's in the it's in the same bucket of questions um and so uh i i think if you're going to do surrogacy or adoption you would do the uh you would learn so much about these two

things that you would find that there's a vast spectrum that people pay for these things uh five thousand to a hundred thousand spectrum yeah we're seeing about 45 to 60,000 depending on which route we take and if it's in the United States or international. And my husband is 35, so age is something that we're definitely thinking about. Yeah. I think you've got more research to do. Okay. We've worked with many, many, many families that have done adoptions for half of your low number or less. And so I think you're getting the Bentley pitch rather than the Chevrolet pitch on the adoption process. So, no, it does not cost that much. And so I think you've got, you know, here's the thing. When I, the more information I gather and the more options I have,

the more power I have in making a decision. And I don't think you have enough options yet. As a matter of fact, I'm sure you don't because the prices you're quoting me are ridiculous. Well, that's mainly for our first choice, which would be surrogacy, so that we could have the biological child. The adoption would be secondary, which we know we can do cheaper. Okay. All right.

And, you know, obviously there's a lot of ways to compensate a surrogate, and a lot of price ranges on that as well. So it's such a personal thing and such an intimate thing that it's very hard for somebody on the radio like me to speak into it and and not sound callous or not sound like i don't care about it i do care about it it's just you have got you do not want to get into these situations and um and and look back later and and wow, that it's so emotional, it can cloud you from treating it like a business transaction as much as you should. I want it to be emotional.

I want it to be intimate. I want it to matter. But I also want you to use wisdom in the process. Does that make sense? Yeah. Yeah. So I'm not trying to be unfeeling in other words but uh but but so anyway uh i can tell you in our life me and my wife when we were walking down

some of these steps we put an end a line we wouldn't cross because we knew that once we our hearts got into this deal, and once there are people around you always saying, well, there's another option, there's another option, there's another option, that suddenly you wake up and you're so far of your head or you're so far underwater, it's just the whole thing, what was going to be this joyous, precious moment, gets really, really cloudy. What's the $75,000 in debt?

Oh, my cloudy. What's the $75,000 in debt? Oh my gosh, everything. We have... How much of it's cars? About $25,000, but last July it was $90,000. We sold, well, we've surrendered two vehicles and then we're paying off the deficits on it. But we have two cash cars now. Oh, okay. We have two beaters right now. So the $25,000 is the deficits. Correct, yes. And then the rest is some debts too.

I have a loan with my parents, and then credit cards, just furniture. How much do you owe your parents? About $20,000. You know, I might consider making that a pause point in the rest of the – clean up the rest of that snowball, because you do want the cash to be freed up to be able to do these other things. So I want you working your debt snowball, and I want you cash to be freed up to be able to do these other things so i want you working your debt snowball i want you pushing through the majority of it but that 20 i might ask for a moratorium on that until after the baby and say mom and dad i'm

not gonna pay anything on this because we're gonna get you a grandkid oh that's a good yeah blackmail and uh but yeah or i mean negotiate that with them. Talk to them about it. And so, you know, that's a different kind of debt that you could get, you know, no payments and no interest while you work through this other thing and then come back to it after baby and get it done. That would be fine. But the question is not really when to have babies. The question is where to stick a $60,000 or $40,000 or $25,000 expense in the middle of your debt snowball.

And it's an expense that is very intimate, very emotional, and worth every penny. Yeah, I would strongly recommend going to a counselor that you recommend or a pastor. This is one of those moments where your pictures and words get screwed up, right? We think in pictures, but we speak in words, and we're both saying baby, and we're both saying kid, and we're both saying pay off the debt. And that's when one of you has one picture and the other one's got another one. So just being able to have a third party to walk you through, make sure everybody's on the same page, where are we headed,

what do we want to do here, and what order do we want to do that? Man, you can't go wrong getting everybody on the same page yeah that that's important and um and i agree with what you said earlier too that you and sheila talked about is you do have to put a line on this uh because otherwise your emotions will plow past anything that's reasonable you'll look up maybe 150 yeah or something and i've seen people within vitro where they just break the bank. They just keep going back. And that was my wife's wisdom up front.

Let's draw a line here. Let's say this is as far as we're going to take this, and then we're going to work hard, but we're not going to cross this line. That ended up being extraordinary wisdom, as usually our wives progress. Yes, absolutely. It's just, it's one of those things that's very, it's impossible for people or yourself to tell yourself no on. And if you don't, you're going to get in trouble. Imagine a world where people never have to worry about money ever again. At Ramsey Solutions, our mission is to teach people how to get out of debt and build lasting wealth. And if that means we have to take on the toxic money culture that says you need debt to get ahead, then we're okay with that. We've seen millions of lives changed and we will

continue to create digital products and services to help people transform their lives. If you want to join me and over 1,000 other team members on this crusade, we're currently on the hunt for web developers, UX designers, and SEO and content marketing specialists. To find out about these positions and more here at Ramsey Solutions, visit ramsesolutions.com slash careers. That's ramsesolutions.com slash careers. Together, we will disrupt the toxic money culture in America and change lives. Visit RamseySolutions. my co-host today. Well, the housing market is hot.

That would be an understatement. Your house could be worth a lot more today than it was 20 minutes ago. That is not an understatement. That's the truth. Your old insurance policy might not give you enough coverage so if your house is worth fifty thousand dollars more than it was a year ago and your insurance policy has the old value stated on it that's all you will get if it burns hello you need to update your policy and guess what your insurance agent didn't call you either some policies automatically raise your coverage a little depending on home price but are depending on inflation rates but not enough to cover what's going on right now and

if your agent hasn't followed up and reset your policy you do not have adequate coverage. So we recommend endorsed local providers for car and homeowners insurance and you can get a much better deal, and you'll get an agent that stays on top of things. These are independent agencies, agents. They compare multiple policies to find the best possible coverage for your home and your budget. Text HOME to 33789 and talk to a trusted insurance pro about finding the right coverage for you, getting the proper amount at the best possible deal. Text HOME to 33789. Richard is with us in Atlanta.

Hi, Richard. Welcome to the Ramsey Show. Hey, guys. How are you guys doing today? Better than we deserve, sir. How can we help? Hi. So I'm in baby steps four and six. I make about

36,000 after tax a year. I had an idea of working the next year, getting a side job and living off the side job money. So working about 20 hours extra a week at a different job and pocketing my primary job's money, and I was thinking about saving it towards retirement. So I was just trying to get your opinion on it. I have six months saved up right now, so I was just trying to get you guys' opinion on it. You're single?

I am single. I have two roommates who pay my mortgage right now. Yep, that is my home. How old are you? 24. Yeah, I'm all in, man. Doesn't hurt anything. Is it necessary for you to have a good life?

No. If you start saving next year, I could take a year off and work my butt off. Doesn't hurt. I mean, you know, I want to work hard, make more money, and have more money. Should I do that? Well, the answer, unless you're, you know, giving up something major in your life by doing that, is yes. That's where money comes from. So, yeah, there's nothing wrong with that.

But I also don't want you to think that, you know, you're 24, you make $36,000 a year, you need to panic about retirement. You can start saving 15% of your income now and do that every year as you get raises, as your career grows, and you will be just fine. Would it make more sense to put that towards retirement and let it grow or put the $36,000 towards my mortgage? Well, we teach that you should be putting 15% of your income towards retirement and everything else towards your mortgage. So both? Both. So if you make $56,000 because of working extra, then 15% of $56,000 would go into retirement that year, and any other money you can scrape out of your budget that you want to do something important with

would go towards paying off your mortgage early. That's what we teach. Baby steps four, five, and six. We also teach, especially for 24-year-old go-getters, don't overcomplicate it. Don't try to outsmart the system. Just follow it. Yeah. And, you know, it does kind of feel like that you're trying to figure a waysmart the system. Just follow it. Yeah, and, you know, it does kind of feel like

that you're trying to figure a way to game the system here. And my point is you can relax a little. I think you're doing okay. And it's okay to work extra, make some extra money, and then just follow the process, and you're going to get there. You're going to get there just fine. But it's not like if you, you know, if I front load this thing, can I never work again?

It's like, yeah, probably. But that's not what I find as normative among baby step millionaires, everyday millionaires that I meet everywhere. Tracy's in Birmingham. Hi, Tracy. Welcome to the Ramsey Show. Hi. My question is, I am married to a self-made millionaire.

We've been married for three years together for a total of seven. I put my career on hold, and I kind of help him with everything, his businesses, multiple businesses. What do you do? Well, one job that I have that I actually get a paid salary from is I am a project slash office manager for an electrical contracting company. And we do jobs across the nation. So that is the one job that I do to actually get a salary for. But on top of that, I help him with everything, all of his other businesses that he has and all his personal things, like, you know, like a normal couple would.

But when we got married, I signed a prenup cause I know, you know, I understand that you, um, everything before me is yours and your success is yours. Um, but I'm starting to feel like we're never going to build together and I've put my career on hold and I'm helping out with him and his things. Tracy, what else is going on? There's actually a lot um i've been wanting to have kids and that's something that i feel like he's stringing me along with as well um and i feel like everything in our lives is his like

there's nothing that's ours like i don't feel like he values my opinion or me. You know why you feel this way? Because that's the truth. It's true. That's why you feel this way. Yeah. You're not crazy. Yeah.

Hey, Tracy. You know what? It's funny that you say that, John, because he has been saying that I need to go to a psychiatrist. Yes. Because there's no reason why I should be unhappy with my wife because he provides me with all these things that I don't ask for. Except for meaning. He tells you what you're going to like and what you're going to love and what you need,

and then he provides that without giving you any input on the things that you want and need, and you're living somebody else's life. It is. Correct. Just like we all got Biden. No, we didn't all. People got Biden checks. They didn't get value and purpose, right?

It's very similar. Right. You're not crazy. It's the gaslighter special. When you say, hey, I'm not doing okay, and they say, well, you should probably go see somebody. Right? Yeah.

Dave said it right on. You feel this way because it's true. Yeah, and I'm a very hard worker. I'm very frugal. You said you've been married three years. How old are you? I'm 35. How old is he?

He is 51. Yeah, he's acting like a daddy. Yep. It's not just the year differentiation you're acting like in a daughter slash employee he's a wee bit overbearing don't you think I feel like I'm more of an employee I wonder what would happen if you quit I have threatened that in the past

I'm saying what would happen I'll just do it. Don't threaten. I'm saying, what would happen? I think the dynamic would change. It changes for a moment, and then, you know, he says all the right things, and then... Now, hold on. What are you getting paid to be the project coordinator slash administrative assistant? What do you make a year? Approximately, like like $50,000. Okay.

You can go find another $50,000 job. Yeah, go find a different job. Go find a different job. Oh, yeah, absolutely. And the thing that he always says is that I am spoiled and entitled because he pays all the bills, which he has...

Hey, hold on, hold on. I don't care what he says anymore. All of a sudden, what he says doesn't matter. I've heard enough of it. Yeah, you don't work for him anymore. Now you all have a chance to work on your marriage. You need to go get a job somewhere else and get a marriage counselor. And if he won't go, go without him and let the marriage counselor navigate you through setting this guy up for one possible chance to win or two possible chances to win.

And then this isn't going to go well yeah it's already not going well i'm so sorry i'm heartbroken for you Dr. John Deloney, Ramsey Personality, is my co-host today. Kara is with us in Sacramento, California. Hi, Kara. How are you? Hi, Dave. Thank you for taking my call. Sure. What's up? I am just extremely overwhelmed, I guess, is the best way to see it. I'm a single mom.

I grew up also with a single mom and who struggled. I'm definitely not as bad off as I was growing up, but I'm still struggling. And I know you're going to say I have an income problem. I'm pretty sure. My friend just introduced me to you. So I've been like for the last few weeks listening to the podcast and, you know, like sometimes I'm like, for the last few weeks listening to the podcast. And, you know, like, sometimes I'm like, woo-hoo, I got the answer right. I knew what you were going to say, but I just can't handle my own mess for some reason. I just filed bankruptcy in 2019 because a creditor was going to take 25% of my wages.

And at one point, I had tried to put 10% in my my retirement and I didn't have enough for rent so I knew 25% was like a no-go so I did file bankruptcy I did open a couple credit cards after just to build my credit which now I know is a bad thing but I don't use them I put a small amount I pay it right off I was literally just trying to build my credit i don't want a fiasco um my rent is going up again in august um i just i don't know what to what to do i'm terrified how old is your babies um well they're actually pretty much grown my youngest or my oldest will be 24 in august and my oldest youngest will be 17 in August and you've raised them completely by yourself for the most part yeah um my youngest one her dad we he's basically raised both of them we started getting my oldest one was five months old so he's her dad the only dad she knows but um yeah he's been in the picture the last probably since she was nine and been like

continually in the picture so but you've been you've been an unmarried mother of children yes their whole life and i yeah yeah and stop a minute stop a minute stop a minute. Stop a minute. Okay. You're a freaking hero. Yeah. You're amazing. Thank you. And you're exhausted. I am exhausted. I mean, I'm fortunate that my job, I'm a surgical technologist, so I'm able to pick up extra shifts and call. And for many years, I worked six or seven days a week.

You've not known how to do anything for 20 years except put out fires yeah basically yeah and i've heard you twice it's tired i've heard you twice on this call try to try to minimize what you're doing yeah but i'm really lucky and yeah i know it could be worse and yeah i know you are doing hero work and and you've almost got it done. I mean, you're almost done. This is pretty amazing. Okay, so let's open the next chapter and make it awesome together, okay? Yes, I'm so proud of my girls.

Now, they are very financially conscious. I want you to be as proud of you as you are of your girls. And you're not proud of your girls. I'm proud of you. I'm proud of you as you are of your girls. And you're not proud of your girls. I'm proud of you. I'm proud of you. Yes. Thank you. All right.

So what do you make a year? My bring home is about 41. It varies because, and I just recently started taking up more shifts like a mad woman again. So what are you, 45? 44, yes. Pretty good guess. Almost like I've done this. Okay what are you, 45? 44, yes. Oh, pretty good guess. Almost like I've done this. Okay.

Yeah, a time or two. All right. So, okay, so you're a 45-year-old single lady whose kids are grown. Yeehaw. Okay. Now, so for the next 20 years of your life, 25 years of your life, you get to have what we call an encore, where you come out on the edge of the stage after the play's over

and you take a bow and then you go again. So now let's just start fresh. Let's pretend we're 18 or we're 45, and we've got a whiteboard. Where do you want to be? Who do you want to be? What do you want to be doing when you're 65? I want to not be afraid to retire. I'm talking about your career.

Oh, my career. I absolutely love my job. I love being a surgical tech. I would love for you to make twice as much money as you make. So what are we going to do? Me too. Nursing or PA has always been my goal. Oh, now we're talking.

All right. I like that one. That's a a good goal so what are we going to take what steps are we going to take to be a pa how are we going to do this um go back to school um and yeah go back to school and i i mean i don't feel like well the place you work for pay for it? They'll do tuition reimbursement. Yeah, that's kind of like paying for it, yeah. It's awesome. Yeah. I'm liking our plan already. Once you get to a certain point, you have to be able to support yourself and do it,

because you can't work full-time anymore at that. I know, but listen, you're already setting up roadblocks, and we're just going to pull them. We could do this for hours. We're going to keep pulling them out of the way. So let me tell you what successful people do. Okay. They look out there, and they say, this is where I want to be.

We've already identified that. Then we ask ourselves the question, what has to be true for that to occur that's not true today? Okay, and we've already established some a couple of those things one is you're going to go back to school two is somehow you're going to have to prepare a way to eat while you have to take a little bit of time off to finish that schooling and we're going to get there and oh by the way along the way we're going to get out of debt and along the way we're and oh oh man they're going to pay for it for you so this is getting even better because there's tuition reimbursement. I'm loving this all along.

As a matter of fact, you might find a program that would allow you to continue to work there and do your practicum there or whatever it is you're having to do. I don't know. I haven't finished yet. You just started. This is going to be awesome. Awesome. Hey, Kara.

Can I just talk to you every day to cheer me up? Hey, Kara, listen. I'm going to tell you this in 30 seconds. Okay. My mom didn't go to college. She came from an ecosystem that didn't support that. At 42,

she took her first community college class. And then she took another one the next year and another one the next year. This is my mom. I watched it happen. And then at 53,

she graduated. No, I'm sorry. At 57, she graduated with her PhD. At 63, she was ten No, I'm sorry. At 57, she graduated with her PhD. At 63, she was tenured. And at 70, she just stopped being the department chair at the university that she now works at. So here's what I want you to know. That's a map that Dave's just telling you.

Honey, you're just getting started. You have a whole. I think I have an age. Who cares? In my own head. It's in your own head because you're talking to a 60-year-old, and I'm pissed off now. And listen, Dave's old. Trust me.

He's old, but he's still going, right? You're dead, John. When we get off there, you're just dead. Kara, you got the back half to go. You've just played nine holes, and you got nine more to go. It's encore, baby. Take a bow. So I'm just feeling, like, exhausted. Hey, to go. You've just played nine holes, and you've got nine more to go. It's encore, baby. Take a bow. So I'm just feeling, like, exhausted.

Hey, you should. You just finished a freaking battle. An 18-year battle. A 20-year battle. And you got battle fatigue. Yeah, and I am proud of the fact that I don't like i'm not frivolous i mean i have my times where i spend here and there that i shouldn't if you haven't done some stupid stuff you wouldn't be human exactly yeah stop it i don't vacation things like that okay so here's what we're gonna

do here's what we're gonna do okay you need to go through financial peace university because you get this stupid credit card stuff and this bankruptcy stuff in your rearview mirror instead of out your windshield i'm tired of it being in your windshield it needs to be in the past yeah you put it back there we're gonna stop doing the stupid stuff that puts you there and that's the healing of your finances are going to put you on track to go be a pa you're gonna be a pa yes you are and you're gonna make more money from 55 to 70 than you did from 25 to 55. And it's going to be so fun. And you're going to throw your shoulders back and go, look at me. I did do this.

That's right. So you have taken care of everyone else, and now it's time to take care of you. You've been proud of everybody else, and now it's time to be proud of you. Ding, ding, girl. What a stud, man. You're amazing. Hold on. Kelly's going to pick up.

We're going to put you in a Ramsey Plus membership for a year as our gift to you. Awesome. To put you on the way. And we want you to get in there and get into Financial Peace University. Get the EveryDollar app going and get your finances straightened out. Go to KenColeman.com. Start following the stuff Ken is doing on career. And you have 30 days to start taking solid steps on this journey. I don't want to talk to you again 60 days from now,

and you have done nothing except whine. You should be in school. You go get this done. Be in school. Get going now. This is The Ramsey Show. Thank you. Thank you. Our scripture of the day, Ecclesiastes 7.12. The protection of wisdom is like the protection of money, and the advantage of knowledge is that wisdom preserves the life of him who has it.

Albert Einstein says, We cannot solve our problems with the same thinking we used when we created them. Amen, amen, amen. Requires new thoughts. That's what we're here for. To make sure you have some new thoughts. Some of them are good. New actions.

Kevin is with us. Kevin is in Fort Walton Beach. Hi, Kevin. Welcome to the Ramsey Show. Hi, Dave. Hi, John. Thanks to the Ramsey Show. Hi, Dave. Hi, John. Thanks for taking my call. Sure.

What's up? So the question that I have is about life insurance. So we are debt-free except for a house we are currently renting. And the plan for the financial freedom is we should be, I guess, kind of at a financially free point in, I would guess, about five years. But my question is, so how much and for how long should we get life insurance assuming we're going to be able to self-insure in a fairly short time horizon? Okay. self-insure in a fairly short time horizon okay um self-insure means that five years from today you're going to have a paid for house your kids are grown and gone or you have so much money

that your kids are taken care of if you die anyway how old are you so we uh we are both my wife and I are 34. And you're renting? We are currently renting. You have children? We do have two children. Okay. And how much money do you have? Currently, we have around $500,000. Okay.

And what do you make a year? So we are, our income right now is about 140 we live on about a third of our income so we're able to put a lot of into investments and then my um so due to a uh job change probably within about a year, our income should be increasing substantially. Okay. Well, I mean, apparently you understand the – my definition of self-insured is there's enough money in investments that your family will have enough income coming off of those investments without touching the principal

to take care of them easily without your income being there. Your income is replaced by income off of the investments without having to touch the actual principal of the investments. If you're going to be there in five years, then, you know, you're there. Are you guys healthy? Yes. Okay. Because here's the thing.

I mean, a million dollars on a 34-year-old just doesn't cost the cost of a pizza. It's not much money. And so. And I do. Yeah. You're not. And I guess that's my question is, we do that because i know you kind of typically recommend the 10 to 12 yeah i'm just saying but i mean if you buy a million if you

buy a million and a half on you uh or whatever you know i mean it's just not much money we're not talking about some super expensive policy if you go to zanderinsurance.com and you quote out a million and a half two million whatever on whatever, on a 34-year-old. It's just not that much. It doesn't cost that much. So, you know, if you buy that for a 10-year or a 15-year, I'd probably just buy a 15-year. And then when you reach the point that you are self-insured by the definition I just gave you uh that your wife and children are you know they got a hundred thousand dollars a year to live on so you've got um you know a million

million and a half in investments that that they can draw off of uh once you reach that point you would just cancel the insurance if you want to um you may find other uses for it but um uh in terms of just padding things and that kind of stuff. But it's, yeah, the difference in a 10-year and a 15-year is not going to be substantial enough at 34 years old to screw with it. I wouldn't worry about it. Or even a five-year. I mean, it's just not going to blow you away that it's not triple. You know, it doesn't cost that much more.

And so I would probably just go ahead and get a 15 year 12 times your income and then if you reach self-insured before the 15 years is up cancel it and i i look at those decisions in my life dave on a on a seesaw and a of risk right and so what's 500 bucks or six or seven hundred dollars a year versus my family being taken care of if something happens. It just doesn't make any sense on the other side of it. Right. I have the advantage and the distinct disadvantage of having sat with 34-year-old widows.

Yeah. Yeah. That had $2 million or had nothing. Correct. As if I, and it's devastating. Versus $500, you know, for the cost of policy or whatever it is, you know. two million dollars yeah or had nothing correct as if i and it's it's dead versus 500 bucks right you know uh for the cost of policy or whatever it is you know and it's um it's not just a game changer that's such an understatement right such an overused cliche to say that it's it's it's

oxygen yeah it's everything it's not that money replaces somebody or anything like that, but it's a way different conversation to be sitting in that living room with somebody and they're going, Dave, you know, and they're friends of ours, you know, and Dave, you know, we did this stuff you said to do in the class, man, and we got, you know, I got $2 million coming, and I'm scared I'm going to mess that up. That's a different thing than I'm scared, and then I'm scared i don't know how we're gonna eat next week i gotta go to work on monday yeah so it's just it's not that much money yeah carson is with us in st louis hey carson welcome to the ramsey show hi dade thanks for taking my call sure what's up um so my wife and i uh for the last year and a half, have been on baby steps four, five, and six.

The two years prior to that, we were on steps one, two, and three and paid off about $80,000 in debt. My question is, so we've got a little one-year-old boy and my wife. Well, we're both kind of contemplating together. She wants to quit her job and what does she make you know i'm what does she make she makes probably will be about 135 this year what do you make i make about 150 160 so what do you lose when she comes home and your income goes in half? Well, so the way that we've been living right now,

essentially we're living off of my income and saving everything from her. So you lose the savings. Well, a lot of it, yeah. I mean, you're saving $135,000 that you won't be saving anymore. Exactly, Yep. And that's okay. So you're not going to be quite as wealthy, but she's going to get to be there with her baby. Do it.

Okay. Well, and I'm all for that, too. But I also know what $135,000 and growing over the next five or ten years, if we put all of that into an investment account, you know, what that can grow up to, you know. What does she do for a living? She does digital advertising. Okay. I would tell her just for the fun of it, for the intellectual stimulation, to do some freelance. Absolutely.

Just to keep herself busy, because a one-year-old will drive you freaking bananas. And if she'll stay current in that world, she can step back in whenever she wants or whenever you all want. You have absolutely no financial need to do that, and I trade one-year-olds for money in about 30 seconds. Yep, yep, and i totally agree with you um it's more just is it is it uh you know what we could have in the future is it a wise decision i i you don't need it your side i think you don't need it okay yeah hey it's not a math problem carson you can be you can be multi-millionaires on 150 000 okay and by the way you're not gonna make 150 000 in the future because you're gonna be making more and she,000 in the future because you're going to be making more,

and she's also going to have some freelance income. And when the kids are 8 and 9 and 10 and she's sitting at home by herself while they're at elementary school, she's going to go back to work and do something because this woman likes what she does. She just likes one-year-olds better. Yeah, way more than I'm worried about your income. I'm worried about her identity. And so I'd recommend her getting some professional women,

some stay-at-home mom women in her circle. Yeah, and she's got a good support group, too. And so I think that makes me a lot more comfortable with this decision, just hearing you guys talk it out. So I really appreciate that. Thank you. I'm so proud of you guys. I'm proud that you got up to Baby Step 4 where you can do this, and it's a no-brainer.

Yeah, y'all worked hard to get to this exact moment. This is living like no one else so that later you can live and give like no one else. This is exactly what you're doing. Well done. Very proud of you. John, good show. Thanks, man. Good show, James and Kelly in the booth. I'm Dave Ramsey, your host. We'll be back with you before you know it. In the meantime, remember there's ultimately only one way to financial peace and that's to walk daily with the Prince of Peace, Christ Jesus. Have a friend or family member that needs a daily dose of Ramsey advice in their life? Let them know about the Ramsey Call of the Day podcast.

It's a quick hit of advice about life and money in under 10 minutes. Check out the Ramsey Call of the Day podcast wherever you listen to podcasts.