The Ramsey Show - App - Should I Put Marriage on Hold to Help Out My Mom? (Hour 3)

Episode Date: September 18, 2020

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Live from the headquarters of Ramsey Solutions, broadcasting from the Dollar Car Rental Studio, this is the Dave Ramsey Show. It's where America is hanging out. To have a conversation about life and money and career and relationships, just hope. I'm Ken Coleman, Ramsey Personality, host of the Ken Coleman Show. Joined by my colleague, Ramsey Personality, Anthony O'Ne Coleman Show, joined by my colleague, Ramsey

Personality, Anthony O'Neill. And he's part of the Ramsey Network as well, and we are here together to team up to help you. Want to give you clarity, want to give you hope, 888-825-5225, 888-825-5225. Let's go to Jovana, who is out in Los Angeles, California. Jovanna, how can we help? Hi, thanks for taking my call. You bet. I was calling today because my boyfriend is planning to propose to me, and I should be debt-free by March. I know my boyfriend does have some debt, and I'm wondering, I want to purchase a home, and I'm wondering, should I put that on pause, getting married on pause,

and get a house or marry him even if he has some debt? Okay, so help me understand a little bit what you're asking because the screen is saying we're going to put marriage on hold to help with your mom. Are you saying should you put marriage on? Yeah, yeah, sorry. So, yeah, so I do want to hold to help with your mom. Are you saying should you put marriage on? Yeah, yeah, sorry. So, yeah, so I do want to purchase a home for my mom. So that's the reason why I'm wondering, since it's not like we would be buying a home together, it would, to purchase a home that your mom will live in that you and your husband will eventually be paying for on top of where you all live as well?

I just want to make sure I'm hearing this correctly. Yes, but the idea is that it would probably be an agreement with me and my mother, so it'll be my own side thing. So that's why I was wondering if I should do it before getting married so he's not involved in that process, if that makes sense. Talk to me about your mom. Yeah. Where is she? Why do you feel obligated to help your mom? Well, I know that she's been renting for a long time.

And so to me, I know that maybe purchasing a home is not in the decks for her. And so I want to make that happen for her. And so since I know I'm going to be debt free and I'm pretty good with saving, I want to do that for her. You know, and I'm going to bring Ken into this because he's a married man. But let me say this, Giovanna, first. I love your heart for your mother. I think America can sit here and say you love your mom.

And I love that because I love my parents as well. But let me tell you this much. And Ken, correct me if I'm wrong as a parent because I'm not a parent I would not want my daughter to sacrifice her life and her future marriage at my cost and any parent that does want that I question them and and their morals and and their character and so devina and here's the scary part you're saying should i do that now and force what i did onto my husband and that is a bad way of thinking so my suggestion to you is going to be no don't put your marriage off on hold and no no, do not purchase the house for your mom. Sit down and talk with your husband. You all come up with a game plan.

And even in that game plan, tell them like, hey, in the next few years, I would love to be able to cut my mom a check for five, 10 grand to help her out in certain areas. I don't have a problem with that. But what can we do together in our future? I think you're right, Javon. I don't think that's an issue that you want to buy the house. It's just how you're thinking about it. You've got your finances separate from your soon-to-be fiancé's finances. And what we believe is that those finances are going to come together, whether he's got debt or not. So I just want to i mean anthony's

already told you that's what i think but i'd like to walk you just very quickly through a thought process you need to number one find out how much your soon-to-be fiancee has in debt that that needs to be something that you know just so it's not shocking number Number two, you all need to sit down and talk and go, are we on the same page that our finances are going to truly be our finances? My bank account, your bank account goes into one bank account, and we're going to tackle your debt together. I've done it for me. I'm a great saver.

I'm with you. I'm going to help you pay this off. We're going to do this together. That conversation needs to be next. Then I want you to say to him, hey, and I assume you've told him you would like to buy a house for your mom? Mm-hmm. Okay. I know. But that becomes a we decision.

Yeah. After you have those other conversations. So, again, if you eventually want to bless your mom that way, great. But you bless your mom after you two come together truly in marriage and the bank account and the shared vision. So that is a down the road if your finances are in order and it's a part of because you're taking on that. You're not paying cash for that. Am I correct? No. Okay.

So that's debt you're taking on yeah which i would say that you're not going to take on debt to finance your mom's house no before you finance yours that's exactly right you got your own housing situation so uh anthony's right your heart is amazing uh you're a fantastic fantastic human being i love it but your your order's out of place yeah and mom's okay she's been renting i know you want to bless her make that a big dream anthony yeah i think that's a really worthwhile big dream if you guys kill it in five seven ten years from now maybe you can buy her a small house uh and you pay cash for it that's the blessing because then the asset is yours. Absolutely. And that's the thing, too, here with me, Ken, is I eventually want to pay off my parents' house. But I'm not going to pay their house off before I pay off mine.

It doesn't make sense. Now, the heart is there, and my parents know I love them. But I think sometimes parents could be a little bit like, hey, babe, go worry about your life. I'm going to be okay. Like, go work. You're about to, you're young. You can start off better than me. By the time you get to my age, you could be at a better place than where I am today.

Do not worry about me. Start off your marriage healthy, debt-free, solid future. You know, there's nothing wrong with helping your parents, but do not do it at the cost of potentially damaging your family. The only thing that really concerned me about what she said outside of the finances is if I do this now before I get married. Yeah, that's why I called her out. Whoa, whoa, whoa, whoa. Right. No, no, no.

She's forcing that onto her husband. Yeah, you don't just get to make that decision beforehand and go, oh, I made it before you technically could put a ring on it. So now we've got to deal with it. And I don't think she in any way was trying to be sly about that, but that is a mindset of, well, I'm independent now, even though we're planning on spending our life together. So I'm going to do this now, and then we have to deal with it. That causes potential massive relationship problems. Now, this may sound savage, but I'm going to say here under Dave Ramsey's show. Oh, I like this.

If a woman did that to me, Kelly, I am with her. I'm going to leave her. See, she's looking at me like, yep, that's good, Anthony. If she did that to me, I'm gone. He's out. What? He's out, folks. Got the wrong one, man.

All right. All right. All right. There it is. He laid it out there. I don't think there's any doubt on what your position is on that. Hey, he is Anthony O'Neill. I'm Ken Coleman.

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and we're taking you through this hour. 888-825-5225. Ramsey Solutions is such a great place to work, and we consistently win the best place to work in Nashville. I think we're like 6, 7, 8, 9, 10 years. Who knows, Anthony, how many years running we are the best place to work. But I got an announcement here. We are looking for more like-minded people who want to join this crusade to do work that matters. And some of the key roles we're looking for, attention folks, are experienced web designers,

UX product designers, and writers. So if you've been impacted by our mission and you want to spread our message and that is you, we want you to apply today. Find out about all the jobs. There are a lot of them available at DaveRamsey.com. That's DaveRamsey.com. When you get there, click on the Dave's Hiring tab on the right side of the homepage and apply away. Hint, hint. If you really want to get our HR department's attention,

and I'm not making this up, A.O., this is really true, you need to go to KenColeman.com and download the free resume guide, which has a template in it. And if you use the Ken Coleman Show resume template, it really gets their attention it. And if you use the Ken Coleman Show resume template, it really gets their attention. Just going to add that little nugget there, get you to the top of the pile. So there it is. Well done.

And it honestly has worked before. It has worked many times, yeah. Yeah, it's really fun. So that is an opportunity. But we do need some great talent. So if that's you or you know somebody that is like-minded, like us, and values, and has got that talent, would love to come to the Nashville area, my goodness, what a great place to be.

So go, go, go. DaveRamsey.com on the right side of the homepage. Click Dave's Hiring. Okay, the phone number is 888-825-5225. Let's go to Tampa, Florida. Excuse me, Dale is there. Dale, how can we help? Yeah, hey, guys.

Thanks for taking my call. Sure, what's up? I'm a lead driver for a logistics company. I like the company I work for. However, I feel like, you know, being a contract driver for another company, I'm doing the work of two different companies, my company and their company, and I just feel like I'm underpaid and underappreciated.

I was just, you know, I was thinking about, you know, whether I should move on or stick it out and hopefully things will get better. Well, let's talk about the stick it out option. Have you spoken with, now are you a contractor to where you're working for? If I understood you right, you're a contractor for one company and then they are contracting you out to drive for another company. Did I understand that correctly? Correct. Okay. So essentially the person you talk to is who you contract with. So who's your superior, and have you talked with them about the fact that you would like to grow financially? I have.

And? And she really doesn't have no answer for me, you know, because it's just a – I've tried talking to her, and she has... The chain of command is just... I have no way to go. Okay. She's the only one I talk to about it. Okay, so she says, I've taken it up the ladder, and it's a no. They're just giving you a no, or they just give you a we don't know? No, it's just...

She didn't even give me an answer. Okay, so that's a really bad sign. The contract got renewed coming up. Okay, so what are you getting paid right now? Are you paid by the hour? Yes, I'm getting paid by the hour. What is your pay, if you don't mind me asking? It's $18.74.

Okay, $18.74 an hour. Have you done the research in your area to see how that pay stacks up for the work you're doing, the experience you have? Do you see basically what the market says you should be paid? Is that on par? Is it below? Or is it above average? From what I've looked up, it's below. Okay. It's's below. Okay. So my thinking is you stay put right now because that's your stability. It's your diving board, if it will, a platform for you to step from one thing to the next. So you get your attitude back to a place of, I'm not happy with

the way they're treating me. This is definitely not a place to grow that I talk about in the proximity principle. There's just no ladder for you here. So now we know that, but we're going to not get mad and get our feelings hurt. We're going to go, I need stability. And now I'm going to go out and look in the marketplace and I'm going to go get another job. I love my job driving. And so I'm going to go find another job driving a truck or some other type of driving where I'm getting paid a better

wage and above average or at least average okay wage where I see an opportunity for growth because they go they don't look at me as just a driver they look at me as an asset and they're going to eventually promote me and so you're looking for that and until you find that you get your attitude back to a place of well I'm I'm just here for the time being anthony i think that's his mindset right now and then he moves on as soon as he has another opportunity and dale and correct me if i'm wrong but just going off of some of the information i do remember reading in the past the average for your situation your career path is about 1200 to to two thousand dollars a week am correct? Right around that area? I'm not 100% sure. I think it's

in the vicinity from what I've read. Okay. All right. You know, because I've seen $1,500 and like, you know, it's $1,000. It's absolutely there. Yeah. So I agree with Ken. That's just ability.

Get your spirits up. You kill this job while you're also killing looking for something else. Yeah. Absolutely right. And Dale, listen, you'll get there. Florida, it's open back up. Delivery and logistics and driving, I think that's still a wonderful, wonderful place for you if you've got to do two jobs in the interim. You know, like that intern period, you know, between one stop, if you've got to do two driving jobs that still make you more money, you're going to feel so much

better about yourself. But yes, you called, said, should I leave? Yes, but you leave the right way. 888-825-5225. Anthony, let's now go out to Medford, Oregon, where Shawna joins us. Shawna, how can we help? Hi. So I have a quick question. We are currently, we have our house debt and our student loan debt. Our student loan debt is quite high. It's going to take us a while. So we paused and saved our three to six months because it'll take us years and we don't want to be that insecure how much student loans is it oh like 370 000 okay 370 all right yeah that's not my real question though so my real question is we had set a goal of 30 000 for three to six months which we hit then we even stocked it some more to $35,000.

Then COVID hit, which his income went down because his production went down. Anyway, we've continued to save, though. And we have, so our, like, our, anyway, our savings, our emergency savings is higher than we originally planned. And we have two events that have, that are coming up that I would like to use some of that emergency money, even though it may not be an emergency, and my husband doesn't want to. One is his 40th birthday that we've been planning for a year. And it's not that we have money saved.

It's just because he's not making as much, he gets nervous. So we have been planning to go somewhere just the two of us we've got six kids and we haven't ever we're going to take a break for the first time in 16 years and i think it would be okay if we needed to use a little money to use it for that for what a? A birthday celebration? When you're $300,000 in debt? We're just going to visit some friends. And it would be gas money. But the thing is, we actually have the money for it. No, you don't have the money for it, Shauna.

I have like $2,000 set aside for it. Yeah, but you're $300,000 in debt. Okay. This is rice and beans territory. Your husband's right. He doesn't even want to go. You said it's just gas money. That's a lot of gas, by the way, $1,200 or whatever, $2,000.

So the point is that you're already kind of circumventing the baby steps by putting away an emergency fund. I applaud that. But you guys have made some tremendous, tremendous progress on saving. If you got serious about paying off that debt, and, I mean, you're not doing anything. I know you're tired. You've got six kids. I know you need a little vacation, but how about a staycation? Have somebody come pick up the six kids and you all have a big celebration in the house

with some styrofoam cups and plates and plastic forks. You've got to give everything you've got. Hang on the line. Kelly, let's get them into a subscription of Ramsey Plus, where you get the baby steps, you get the app, the budgeting

app, and the goal tracker. This is The Dave Ramsey Show. Hey guys, at the Dave Ramsey Show, we really value your input. It helps us to know what's important to you so we can deliver relevant content to help you crush your money goals. We just launched a brand new survey and we'd love your feedback. It only takes a few minutes, and you'll be entered to win a $100 Amazon gift card. No purchase necessary. Take the survey at DaveRamsey.com slash survey or text survey to 33789. This is the Dave Ramsey Show. I'm Ken Coleman, Ramsey Personality,

and I'm joined by my colleague, Ramsey Personality, Anthony O'Neill, as we take you through this hour of the Dave Ramsey Show, 888-825-5225. That's the number to jump in. We're talking about your life. 888-825-5225. Blinds.com's 100% satisfaction guarantee means even if you mismeasure or pick the wrong color, they'll remake your blinds for free.

You get free samples, free shipping, and with the new promos they run every month, you'll save even more. Use the promo code RAMSEY to get the best deal. That's RAMSEY. Rules and restrictions apply. Today's question comes from Rachel in Michigan. She visits DaveRamsey.com to ask, I just graduated in April with my BFA in graphic design. Unfortunately, I graduated with close to $60,000 in student loan debt. I'm finally heading back to work after having been laid off for a bit. They told me they wanted to see about making me full-time before the pandemic in March.

There's been no mention of it since. Is there a good way for me to bring this up? Yes, but very, very, very carefully. So you have been laid off with millions of other people because of the pandemic, and so now they're bringing you back, obviously in a part-time position. And so you want to get full-time. You understand that. They probably understand that and remember that.

However, they're just bringing you back. So I don't want you bringing this up right away. If you need full-time pay, I would be looking right now for a potential part-time job to make up the difference of what you need for full-time pay. But within a week or two, I would then say, after you get back in and you've got an incredible effort and they're seeing, wow, it's like Rachel owns this company. She's so valuable. Then you can sit down and say, hey, back before March, we talked about me eventually moving full time. I know everything has probably changed, but I would love to be full time here. I'm wondering what needs to be true for us to make that happen. If you don't know, totally cool. If you do know, I would love to get on the same page

because I need to be working full-time. The pandemic has hit me hard financially. They're going to understand that. And so the idea here is the way you handle that is with a lot of humility, but you are clear, but you're not demanding. You're not expecting. You are asking. And if you get good communication, that should make you feel good. If you get no communication to the point of they just keep kicking the can down the road, that's where my advice on finding another part-time job or another full-time job is the direction to go. But give them a chance, communicate well, and let's see what happens. 888-825-5225.

Let's go to Boston, Massachusetts, where Frank joins us. Frank, how can we help? Mr. O'Neill, Mr. Coleman, thank you for taking my call. It's a blessing to be able to speak with both of you gentlemen. Thank you. What's up? Mr. Coleman, I believe my question is more geared towards you. No offense to Anthony. Hey, no, I'm taking it, brother. I am currently in an industry where, you know, I have all the abilities, I have the connections and the qualities even to do well in advance career-wise. But quite honestly, I despise the job. It's extremely time-consuming, stressful, and most importantly, it isn't my passion, which makes the difficult parts of the job even more difficult. On top of that, it is putting tremendous stress now on my new marriage

because of how unhappy I am with work. And I know what I would love to do, and that's being an airline pilot. I've been in love with aviation all my life, but I'm colorblind, and I'll never be able to be hired by a major or get into the Air Force. So my question is, what should I do and how do I discover another passion or another job where I can look forward to Monday mornings again? Yeah, wow. You know, my heart hurts for you because I know that you'd love to either fly for a major airline or the military, but while that has been a very clear dream before we totally abandon this frank

i'm just curious um what you really love is being up in an airplane in the clouds doesn't really matter who it's for am i right uh yeah absolutely so my question is could you fly privately could you fly uh no no i i i'm sorry i didn't mean to cut you off. No, please do. That's okay. I could, but I won't be able to fly into any major airport or be able to fly at night. The FAA would not allow for me to fly at night or into any major airport. So basically, yeah, it'd be really difficult to get any job that would be able to support a lifestyle. Okay, I got it. All right, so outside of being up in the clouds which i've got a thought on that in just a second to kind of fulfill that that

hobby level passion because i think it'll it'll help you but um what what do you love most about the idea of being a pilot outside of being up in the sky what do you love about the function of flying in a plane frank hello What do you love about the function of flying in a plane? Frank? Hello? All right. I think we lost Frank.

I'm not sure. He is totally gone, totally silent. Okay, so I've got to finish the thought, Anthony. So when something like that happens to somebody, where he's got a physical limitation, and he's not going to be able to make the kind of money he needs to make because he can't literally land at an airport yeah what i was getting at is what does he love about it and so he was going to say hopefully all right i love that i've got this pressure i'm operating all these machines i got people counting on me there's

a technical aspect to everybody's work. And then there's an emotional aspect. Does that make sense? Yes. And so it's the technical aspect of the job itself. And then there's the emotional connection to the result. And the idea for him and anybody that's gone through the situation is to identify the parallels. Yeah. And in another industry, he gets that same technical and emotional juice.

That's where we were trying to go, but unfortunately we lost him. I like that kid. But let's keep on going, 888-825-5225. Steve is up in Hobbs, New Mexico. Steve, how can we help? Hey, it's great to talk to you. So I'm just recently married, and my wife wants to go back to school. And I work in the oil field right now, and it's not doing so great.

But I kind of need to go get a different degree, so maybe I have something to fall back on. Well, I have a house that we're living in, which I own, still paying on it. But then I also have a rental house and i'm wondering do i sell that to finance the education part of that or do i just try to stick in there oh that's a great i like this i like the way you're thinking too let me ask you this question how much is how much do you own the house that you're renting and how much is it worth? I owe approximately 151 on that house and it's worth 225.

Okay. So we got about 75 K in equity after our real estate agents and fees. You'll probably see about maybe 45 of that. What's your yearly income right now? You know, I made around 130 last year, but I had a lot of overtime. This year, I might do 80 or 90. I just, it's kind of not really clear yet. Okay. So we got 80K.

Let's go with the low end. Okay. We have 80K. You got 45 K in equity, possibly on a rental home. I do like the fact of you selling your rental home, not just so you can go back to school, but so this way you can have that extra stuff over you. Just gone.

What other debt do you have right now, Steve? Just, just the two houses. And you know, my, my truck is paid for no credit cards no credit cards at all my uh my wife does owe a little bit of money on her her little car okay uh but that's it cool so here's the thing steve sell the rental house sell the rental house pay off your uh wife's

car go ahead and get three full months into your expenses for your savings account. Then I have no problem with you using that money to go back to school. Now, here's the thing, Ken. Before you go back to school, I want you to do the proper research that Ken teaches all of his people so you can identify that you're getting into your sweet spot, getting into your passion field so you don't have to do this again down the road. That's right. In fact, go to, Steve, go to KenColeman.com right now. It's a free resource.

It's called the Career Clarity Guide under the Resources tab. It's going to walk you through a three-part kind of self-discovery process that will allow you and your wife to figure out what is it you really want to do and do we need that degree. Call the Ken Coleman Show as well well we'll dive deeper on that great advice anthony hey they're gonna be debt free except their house that's a good place to be i'll tell you another good place to be is right here on the dave ramsey show don't move more coming right up Welcome back to The Dave Ramsey Show. I'm Ken Coleman. I'm joined by Anthony O'Neill.

We are taking your calls this hour, 888-825-5225. Our scripture of the day, Romans 12, 2, do not be conformed to this world, but be transformed by the renewal of your mind, that by testing you may discern what is the will of God, what is good and acceptable and perfect. Our quote from Winston Churchill, the price of greatness is responsibility. 888-825-5225, the number to jump in on the conversation.

We go to Provo, Utah. Dwayne is there. Dwayne, how can we help? Yeah, I am 401k poor. I'm 57 1 a half. I've got a couple million dollars in a 401k, and I broke other than that. Because of COVID, I had a job that was making a decent amount of money. I'm self-employed. My market was doing good. About a year ago, I decided to invest or start a new startup company, hired a few employees, and I'm spending $5,000 a month to support them. But instead of making $10,000 a month, now I'm making $3,000 a month.

So I am struggling to stay above water. But I do have this 401k that's waiting for me and going to be available in two years. What options do I have? When I don't want to lay off my employees, They need the money worse than I do right now. Are you paying yourself, Dwayne, out of the company? No. Okay, so you've already made that sacrifice. Yeah, it's not making any money yet.

We don't expect it to make money until probably another six months from now. Well, you told me there was $3,000 left over, if I understood you correctly. I'm sorry, I wasn't clear. I have two jobs. One was my old, I'm still self-employed, with another job that's making $3,000 a month now. Okay. And that's taking care of you? Yes. Well, I guess you could say it's taking care of me.

Barely. Barely. Barely. And I'm trying to cover also then $5,000 for my employees. Oh, so you personally are covering the $5,000 for the other businesses' employees. Yes. So really, I'm losing about $2,000 a month. I guess I can't call it losing. I'm investing $2,000 a month in money with money I don't have. Okay, so hold on, hold on, hold on, hold on. So where's that coming from? How are you doing that?

What do you mean? I know what you mean, but where's that money coming from if you don't have it? I had some money built up before I started. I thought everything, you know, if COVID hadn't happened, you know, I had $50,000 that I was using, and I've been using it and drawing it down over the last year. How much of that is left? Probably about $20,000. And that's your personal money?

I'm sorry, Dwayne, I've got to get this straight here. You've got two companies. Let's call it for the rest of this phone call company a and company b company a is the one where you're paying yourself about three grand a month and company b is where you've been investing some of that money uh the 50 000 into the employees on company b you got 20 000. Was that personal money? I know, it's confusing. Is that personal money or is that from one of the companies? I guess you could call it personal money.

Okay, so we got $20,000 left there. All right, so A.O., I mean, jump in here. But I got to tell you something, Dwayne. I love your heart. How many employees are you trying to keep afloat? Right now, there's about three. You're going to destroy yourself in the sense of, well, that's too strong. Because you do have, in three years, you're going to retire very comfortably.

So good on you. So you're set, and I appreciate what you're trying to do. But I do not think that this is honorable for you to just keep whittling down that money Good on you. Yes. So you're set, and I appreciate what you're trying to do, but I do not think that this is honorable for you to just keep whittling down that money because I think you're running out of money before the six-month forecast turnaround. Am I right? Yeah. Yes, I will. So I looked at it and saw the different options that I would have.

Which are? And you're going to hate every one of my words I use, but borrow money from a 401k. No, no, never. Never. It's not even an option. Okay. What's the next option? And that was the home equity.

No. Which is even worse. Yeah. What's the third one? I can't even wait for this one. Well, you know, I don't, maybe I don't really have a third one. Okay, great. Actually, you do.

Yeah. Let me ask you this question. What is the business? What is the business? So we are designing software application. Okay. So it's not ready yet. Now, I guess you want business b is designing software application cool great and then how much is it generating in income right now is it zero

okay yeah zero this is a perspective app right is that what i'm understanding you had this big idea you launched this company and you got these people that are working for you, and this thing has – it's not even ready for the market yet. Did I hear that right? Correct. Correct. Dwayne, listen. This is not fun, and I don't want to be glib about this. So hear me say this.

You've got to say to these folks – how many employees is it? Three? Three. You've got to say, hey, it's not ready. We've got to press pause on this. And I've been funding this personally. I'm going to help you find some work. Maybe you come up with an arrangement where you pay their next two weeks out of your own money

so you don't just rip the carpet out from underneath of them. Maybe you pay another month. But at some point, you've got to read the writing on the wall here and go, hey, we're going to furlough you. And when the economy gets better or I get to a better place of stability financially in my other company where we can invest some more dollars into this and get this thing ready, right now, you just got, it's a hard conversation. We got to tell these folks, look, I'm going to help you find something, but we can't keep doing this. I got to pause it or I got to shut it down altogether. Yeah, I agree. And then also, Duane, no, you're'm going to help you find something, but we can't keep doing this. I've got to pause it or I've got to shut it down altogether.

Yeah, I agree. And then also, Dwayne, no, you're not going to take anything out of your 401K. No, you're not going to touch your 401K today. No, you're not going to touch your 401K anytime soon. You're going to let it sit there until it is time to withdraw it out, and you're going to be fine. But right now you're going to make the hard decision, like Ken Coleman said, and just say, hey, we're not stopping. We're just pausing. Yeah, that's right.

Pauses are okay. I mean, I don't know how many millions of people have been furloughed in this time, and people have been laid off. It's tough. But we had to pause here on a lot of different things and a lot of different projects. They shut projects down for a while. We didn't get rid of them we just said hey we got we got to hit pause let's see what the storm is going to look like right and you do that so that you don't cause greater damage and here's the thing i understand anthony where his heart is absolutely this guy is a great human being absolutely we're talking unbelievable heart but if you're not careful

that longing to try to help other people you you hurt yourself and it's not your responsibility they willingly join the company they know what he's doing they know that he's been he's been personally funding this and he's putting himself in a situation where right now he's already hurting even though he's a millionaire yes in his 401k right now you hurt him he's barely paying the bills barely if he's even paying all of them so he's just gonna make the hard decision again and it sucks it's it really does but his heart reminds me of dave dave was like you know i don't want to let nobody go so we're going to pause some things yep so we can you know not do that but now, you don't have any income coming in.

So your pause is, hey, we're going to pause this project until COVID is over, until we can come back in here and we can at least generate a payroll at least. I put the energy back in the other company and build the revenue up there and then come back at this thing and go, okay, how much more capital investment would I need to create and save to pick back up on company B? So, Dwayne, thanks for the call. Thanks for who you are. But let me tell you this. While the team members may be upset and certainly hurt a little bit,

I think they're going to understand the situation. I'm assuming you've communicated clearly what's been going on. If you haven't, do it. It's never too late to communicate clearly. but you still have to do what's right. And what's right, as Anthony has said this entire hour, is you got to do what's right for you financially. You can't ruin it just because you feel bad about what you have to do. Hey, I want to thank Anthony O'Neill for hanging out. Always a pleasure, pal. I want to thank our producer, James Childs. I want to thank our associate producer, Kelly Daniel. And I want to thank our producer, James Child. I want to thank our associate producer,

Kelly Daniel. And I want to thank you, America. Thank you so much for joining us. Thank you for listening. This is The Dave Ramsey Show. Dave here. We just launched a brand new survey, and we'd love your feedback. You'll be entered to win a $100 Amazon gift card. No purchase necessary. Take the survey at DaveRamsey.com slash survey or text survey to 33789.